Linwood Community Co-operative Limited,Ltd - AccountsChartiy- Accounts

LINWOOD COMMUNITY CO-OPERATIVE LTD - Company Information

2018-04-01 04989222 2019-03-31 04989222 2018-04-01 2019-03-31 04989222 uk-bus:Director1 2018-04-01 2019-03-31 04989222 uk-bus:Director1 2019-03-31 04989222 uk-bus:Director2 2018-04-01 2019-03-31 04989222 uk-bus:Director2 2019-03-31 04989222 uk-bus:Director3 2018-04-01 2019-03-31 04989222 uk-bus:Director3 2019-03-31 04989222 uk-bus:Director4 2018-04-01 2019-03-31 04989222 uk-bus:Director4 2019-03-31 04989222 uk-bus:Director5 2018-04-01 2019-03-31 04989222 uk-bus:Director5 2019-03-31 04989222 2018-03-31 04989222 2017-04-01 2018-03-31 04989222 uk-char:TotalRestrictedIncomeFunds 2018-04-01 2019-03-31 04989222 uk-char:TotalUnrestrictedFunds 2018-04-01 2019-03-31 04989222 uk-core:WithinOneYear 2019-03-31 04989222 uk-core:WithinOneYear 2018-03-31 04989222 uk-char:TotalRestrictedIncomeFunds 2019-03-31 04989222 uk-char:TotalRestrictedIncomeFunds 2018-03-31 04989222 uk-char:TotalUnrestrictedFunds 2019-03-31 04989222 uk-char:TotalUnrestrictedFunds 2018-03-31 04989222 uk-core:FurnitureFittings 2018-04-01 2019-03-31 04989222 uk-core:ComputerEquipment 2018-04-01 2019-03-31 04989222 uk-char:Activity1 2018-04-01 2019-03-31 04989222 uk-char:Activity1 2017-04-01 2018-03-31 04989222 uk-char:Activity2 2018-04-01 2019-03-31 04989222 uk-core:OfficeEquipment 2018-03-31 04989222 uk-core:ComputerEquipment 2018-03-31 04989222 uk-core:ComputerEquipment 2019-03-31 04989222 uk-core:OfficeEquipment 2019-03-31 04989222 uk-core:OfficeEquipment 2018-04-01 2019-03-31 04989222 uk-char:TotalUnrestrictedFunds uk-char:MaterialFund1 2018-04-01 2019-03-31 04989222 uk-char:TotalUnrestrictedFunds uk-char:MaterialFund1 2017-04-01 2018-03-31 04989222 uk-char:TotalUnrestrictedFunds 2017-04-01 2018-03-31 04989222 uk-char:MaterialFund1 2018-04-01 2019-03-31 iso4217:GBP xbrli:pure 04989222 uk-bus:AuditExemptWithAccountantsReport 2018-04-01 2019-03-31 04989222 uk-bus:FRS102 2018-04-01 2019-03-31 04989222 uk-bus:FullAccounts 2018-04-01 2019-03-31

(England and Wales)

Company number: 04989222

Charity number: 1102382

Linwood Community Co-operative Limited

For the year ended 31 March 2019

Trustees Report and Unaudited Financial Statements

For the year ended 31 March 2019

Linwood Community Co-operative Limited

Contents Page

1 to 3

Report of the Trustees

Independent Examiner's Report to the Trustees

Statement of Financial Activities

Statement of Financial Position

7 to 15

Notes to the Financial Statements

For the year ended 31 March 2019

Linwood Community Co-operative Limited

Report of the Trustees

The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial

statements for the charitable company for the year ended 31 March 2019. The Trustees have adopted the provisions the Statement of

Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial

statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with

the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended

Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and

Republic of Ireland published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 February 2016).

Chair's report

The charity has seen another successful year. An effective management team has provided drive and stability and has achieved its

objectives.

Through its success in running and developing the Kingswood Centre, the charity was asked to take over the management and

development of the Corby Old Village Community Centre. This has been a major project and this year has seen a significant increase in

the use of facilities in the local area.

The Kingswood Community Centre has continued to thrive. The management team has responded positively to community related

objectives, in particular: -

Ongoing support and co-operation for the Kingswood and Hazel Leys 'Big Lottery' project. The Centre has hosted and provided

subsidised support for many KHL events. The charity also has links with other organisations such as Made in Corby, Corby Community

Arts, and the Core in an arts project funded by the lottery Creative Civic Change.

Continued support to community groups involving all ages and sexes.

The cafe provides low cost meals and drinks to residents on the estate as well as the neighbourhood centre hirers. It is a place for

members of the public to meet and enjoy a warm welcoming environment. Not only is the 'Snack Shack' a place for social meet ups, it is a

place that provides a lifeline for disadvantaged persons and the homeless; they will be given a warm drink and food.

The Kingswood Centre is a community hub for all local residents which provides a focus for community activities such as Citizens

Advice Bureau, casual meeting-up of estate residents and for several groups with members that live in and around Corby.

The centre provides a development opportunity for volunteers and a training plan is being subsidised to enable formal qualifications to be

gained.

In conclusion, I am very proud of the achievements of the Co-operative and of its continued relevance to the life of estate residents.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's main objective is the provision of community facilities which operate from a local community centre. The trustees aim is to make the community centre sustainable and provide a warm and welcoming environment to the local community and to forge links with the local authorities and council.

The trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

Social investments

The charity enables local residents and organisations to come together and through the provision of facilities and support to local groups enable the community to grow together and bring positive changes to their lives and futures.

Volunteers

The charity is grateful for the support and effort of its volunteers who have given valuable time in managing the centre, organising activities , gardening and ensuring that the centre is a valuable community asset. All of our staff and volunteers hold food hygiene Level 2 qualifications providing excellent service to our users. We are always looking for volunteers to support our staff and training plans are subsidised to enable more formal qualifications to be gained.

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For the year ended 31 March 2019

Linwood Community Co-operative Limited

Report of the Trustees Continued

ACHIEVEMENTS AND PERFORMANCE

The trustees are pleased with the continued development of the community facilities. Drop in sessions are run with local Community Support Officers, neighbourhood wardens and local agencies working on the estate. The charity this year has been supported at events in Corby by the Department for Works and Pensions from their volunteer programme.

Significant activities

Efforts to promote the use of community facilities continue to show signs of success. Regular activities such as table tennis, badminton, karate, zumba, youth clubs and christian groups, dance classes, keep-fit, walkers groups and tenants and residents' association meetings are proving to be popular. The cafe and 'Snack Shack' are proving to be popular with the residents and user groups. A new training room has been set up for the use of small local businesses who have limited or no budget for training. We have held community events at Halloween, Christmas, Easter and a big clean up event for the Kingswood Estate. The events have been supported by the Department for Works and Pensions in Corby who have supplied easter eggs, selection boxes and toys through their volunteer programme. A member of staff also came to coach the kids cricket over a five week period. The development of Corby Old Village Community Centre is progressing well with a significant increase in the use of community facilities during the year.

Achievements against objectives

The trustees feel that charity has been extremely successful in carrying out its objectives in providing a wide range of community services and access to facilities to its beneficiaries when on a national scale this seems to be on a decline. The project also undertaken at Corby Old Village Community Centre is showing signs of success.

FINANCIAL REVIEW

The community centre has seen another year of steady development and the trustees are pleased with the improvement in facility use and hire and in particular the progress that the Corby Old Village Community Centre has made in its first full year under the charity's guidance. Core funding is received from Corby Borough Council and the contribution received in the current year amounted to £17,200 (2018: £17,200). Other grant funding has seen a decline from regular contributors, the amounts received in the current year amounts to £12,150 (2018: £18,277). The trustees have tried to widen its source of funders to avoid potential gaps in funding. The trustees are pleased to report an increase in the cafe sales and income from facility hire which amounted to £119,600 (2018: £89,712). The increase in this area of activity has helped replace the decline from regular contributors and helped the charity increase its reserves. Through careful control of costs the trustees are pleased to report a surplus for the year of £47,370 (2018: £39,512).

Significant events

Management of the Corby Old Village Community Centre was taken on during the year and there has been a steady increase in its usage. This year has seen a welcomed increase in facility usage and engagement with the local community. Revenue from facility hire has shown exceptional improvement which the trustees hope will continue. The charity will need to continue to financially support Corby Old Village Community centre in the short to medium term which will be funded from general reserves.

Reserves

The charity holds £183,266 unrestricted reserves at the year-end (2018: £135,896). It is the aim of the charity to hold reserves representing six months operating costs. At 31 March 2019 the trustees are pleased to report reserves held in excess of this amount. The charity also holds £20,000 in a restricted fund, this has been earmarked by the charity to help local groups to get established and become sustainable.

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For the year ended 31 March 2019

Linwood Community Co-operative Limited

Report of the Trustees Continued

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Linwood Community Co-operative Limited is a company limited by guarantee governed by its Memorandum and Articles of Association

dated 9 December 2003 (updated 3 August 2011). It is registered as a charity with the Charity Commission. Anyone over the age of 18

can become a member of the company; at the year-end there were five members.

The charity has five trustees, the majority of who are also directors. Collectively they form a management committee together with other

members; they will make the final decisions with regard to staffing, recruitment, policy making and finance. they meet on a monthly

basis.

Mrs Lynn Johnston trustee and director is responsible for the day to day management of the charity.

Recruitment and appointment of trustees

The current trustees and directors have been recruited from volunteers within the local community. recruitment is advertised internally for vacancies and approaches made to community user groups. All new trustees are given a copy of the memorandum and articles of association and instructed on the duties and responsibilities of a charity trustee. All the trustees are familiar with the work of the charity as they all are or have been members.

Pay policy for senior staff

The management committee are responsible for recruitment and setting pay policy. Pay and salaries are reviewed annually by the committee and are set with reference to government and local authority guidance as budgets permit.

REFERENCE AND ADMINISTRATIVE INFORMATION

Linwood Community Co-operative Limited

Name of Charity

Charity registration number

1102382

04989222

Company registration number

Kingswood Community Centre

Principal address

Alberta Close

Corby

Northamptonshire

NN18 9HU

Trustees

The trustees and officers serving during the year and since the year end were as follows:

B B Massie

L E Johnston

J Wood

S J Ford

J M Freeman

McIntyre & McIntyre

Independent examiners

6A Ryder Court

Saxon Way East

Corby

Northamptonshire

NN18 9NX

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For the year ended 31 March 2019

Linwood Community Co-operative Limited

Report of the Trustees Continued

Barclays Bank plc

Bankers

1 Queens Square

Corby

Northamptonshire

NN17 1PD

.............................................................................

Approved by the Board of Trustees and signed on its behalf by

03 October 2019

J Wood

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For the year ended 31 March 2019

Linwood Community Co-operative Limited

Independent Examiners Report to the Trustees

I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 March 2019.

Responsibilities and basis of report

As the charity Trustees, who are also directors for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiners statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me

cause to believe that in any material respect:

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the requirements of section 396 of the 2006 Act other than any requirement that the accounts give a

'true and fair view' which is not a matter considered as part of an independent examination; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for

accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard

applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this

report in order to enable a proper understanding of the accounts to be reached.

McIntyre & McIntyre

David McIntyre FMAAT

6A Ryder Court

Saxon Way East

Corby

Northamptonshire

NN18 9NX

03 October 2019

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For the year ended 31 March 2019

Linwood Community Co-operative Limited

Statement of Financial Activities (including Income and Expenditure Account)

Notes

2018

2019

Restricted

funds

Unrestricted

funds

Income and endowments from:

Donations and legacies

29,350

35,477

29,350

Charitable activities

119,600

89,712

119,600

Investments

Total

149,032

125,217

149,032

Expenditure on:

Charitable activities

(101,662)

(85,705)

5/6

Total

(101,662)

(85,705)

(101,662)

47,370

39,512

47,370

Net income/expenditure

Reconciliation of funds

Total funds brought forward

116,384

155,896

20,000

135,896

Total funds carried forward

183,266

20,000

203,266

155,896

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As at 31 March 2019

Linwood Community Co-operative Limited

Statement of Financial Position

Registered Number :

04989222

Notes

2019

2018

Fixed assets

Tangible assets

915

1,158

915

1,158

Current assets

11,398

5,444

Debtors

Cash at bank and in hand

194,612

155,180

206,010

160,624

Creditors: amounts falling due within one year

(3,659)

(5,886)

Net current assets

202,351

154,738

Total assets less current liabilities

203,266

155,896

Net assets

203,266

155,896

The funds of the charity

Restricted income funds

20,000

Unrestricted income funds

183,266

135,896

Total funds

203,266

155,896

For the year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statement were approved and authorised for issue by the Board and signed on its behalf by:

03 October 2019

J Wood

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For the year ended 31 March 2019

Linwood Community Co-operative Limited

Notes to the Financial Statements

1. Accounting Policies

Basis of accounting

Linwood Community Co-operative Limited is a company limited by guarantee, registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity's operations and principal activities are the support of local groups and organisations through the provision of community facilities which operate from local community centres. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016 and Update Bulletin 2 published on 5 October 2018), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Statement of cash flows

The Trustees have taken advantage of the exemption in SORP FRS 102 from including a cash flow statement in the financial

statements on the grounds that the charitable company is small.

Change in accounting policy

In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. The trustees believe that no adjustments are required.

Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general activities of the charity and which have not been designated for other purposes. Restricted funds are subject to restrictions on their expenditure imposed by the donors through the terms of the grant.

Incoming resources

All incoming resources are included in the statement of financial activities when the Charity is legally entitled to the income after any performance conditions have been met and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received from the provision of cafeteria facilities and hiring community facilities in order to raise funds and is recognised when entitlement has occurred. Income from local government grants and other grants, whether capital grants or revenue grants, are recognised when the charity has entitlement to the funds and any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably.

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For the year ended 31 March 2019

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

Donated services and facilities

The value of services provided by volunteers are not incorporated into these financial statements. Further details can be found in the Trustees' report.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Costs of generating funds

Expenditure is classified under the following activity headings:

Expenditure on charitable activities includes the costs of supplies to the cafeteria facilities, salaries and employer's costs of the

provision of community centre facilities and other governance costs.

Other expenditure represents those items not falling into any other heading.

Charitable activites

Expenditure on charitable activities includes the costs of supplies to the cafeteria facilities, salaries and employer's costs of the

provision of community centre facilities and other governance costs.

Allocation and appointment of costs

Support costs are those costs that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs; they are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings, they have been allocated to expenditure on charitable activities on a basis consistent with the use of the resources.

Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in paragraph 1 schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

20% Reducing balance

Fixtures and fittings

33% Reducing balance

Computer Equipment

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

Pensions

The charity operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the Statement of Financial Activities when due.

Operating leases

Costs of operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

Irrecoverable VAT

Irrecoverable VAT is included in the Statement of Financial Activities and is reported as part of the expenditure to which it relates.

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For the year ended 31 March 2019

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

2. Income from donations and legacies

2018

2019

Unrestricted funds

Grants received

35,477

29,350

35,477

29,350

Analysis of grants received

2019

2018

17,200

Corby Borough Council

10,000

NCF

12,150

8,277

Others

35,477

29,350

3. Income from charitable activities

2018

2019

Unrestricted funds

Kingswood Community Centre

38,983

35,229

Cafe sales

47,981

47,421

Income from facilities

86,964

82,650

Corby Old Village Community

Centre

32,636

7,062

Income from facilities

89,712

119,600

4. Investment income

2018

2019

Unrestricted funds

Bank interest receivable

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For the year ended 31 March 2019

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

5. Costs of charitable activities by fund type

2018

2019

Unrestricted funds

40,643

49,169

Kingswood Community Centre

1,170

Corby Old Village Community

Centre

43,892

52,493

Support costs

85,705

101,662

6. Costs of charitable activities by activity type

2018

2019

Support costs

Activities

undertaken

directly

Support costs

Kingswood Community Centre

94,100

44,931

49,169

82,408

Corby Old Village Community

Centre

7,562

3,297

49,169

52,493

101,662

85,705

7. Analysis of support costs

2018

2019

Kingswood Community Centre

Management

24,672

22,570

Governance costs

27,821

21,322

43,892

52,493

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For the year ended 31 March 2019

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

8. Net income/(expenditure) for the year

This is stated after charging/(crediting):

2019

2018

Depreciation of owned fixed assets

243

310

Auditor's fees

1,200

Trustees' remuneration

24,672

22,570

Staff pension contributions

389

9. Staff costs

Total staff costs for the year ended 31 March 2019 were:

2019

2018

Salaries and wages

48,759

44,870

Pension costs

389

49,148

44,870

2019

2018

Direct charitable work

Trustees

Staff costs include remuneration paid to Mrs L Johnston who is a director and trustee of the charity.

The remuneration was paid under the authority of the charity's Memorandum and Articles of Association to reflect the time and

commitment given.

No employee received remuneration of more than £60,000.

10. Trustee remuneration and related party transactions

Mrs L Johnston is related to the charity due to her position as a trustee and director of the company.

During the year Mrs L Johnston worked within the charity and received remuneration as follows: -

Salary as director and trustee £24,672 (2018: £22,570).

The trustees did not have any expenses reimbursed during the year.

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For the year ended 31 March 2019

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

11. Comparative for the Statement of Financial Activities

The comparative year values on the Statement of Financial Activites are for unrestricted funds.

12. Tangible fixed assets

Office

Equipment

Computer

Equipment

Total

Cost or valuation

5,918

1,120

4,798

At 01 April 2018

At 31 March 2019

4,798

1,120

5,918

Depreciation

4,760

1,035

3,725

At 01 April 2018

Charge for year

243

215

5,003

1,063

3,940

At 31 March 2019

Net book values

At 31 March 2019

At 31 March 2018

858

1,073

915

1,158

13. Debtors

2019

2018

Amounts due within one year:

Trade debtors

10,512

5,069

Prepayments and accrued income

389

375

Other debtors

497

11,398

5,444

14. Creditors: amounts falling due within one year

2019

2018

Trade creditors

2,258

Other creditors

2,459

2,428

Accruals and deferred income

1,200

3,659

5,886

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For the year ended 31 March 2019

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

15. Movement in funds

Unrestricted Funds

Balance at

01/04/2018

Incoming

resources

Outgoing

resources

Balance at

31/03/2019

General

135,896

149,032

(101,662)

183,266

General

135,896

149,032

(101,662)

183,266

Unrestricted Funds - Previous year

Balance at

01/04/2017

Incoming

resources

Outgoing

resources

Balance at

31/03/2018

General

96,384

125,217

(85,705)

135,896

General

96,384

125,217

(85,705)

135,896

Purpose of unrestricted Funds

General

This fund is maintained to provide community facilities. To support local groups to get established and become sustainable.

Purpose of restricted funds

Community Support Reserve

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For the year ended 31 March 2019

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

16. Analysis of net assets between funds

Tangible fixed

assets

Net current

assets /

(liabilities)

Net Assets

Unrestricted funds

General

915

182,351

183,266

General

Restricted funds

20,000

Community Support

Reserve

915

202,351

203,266

Previous year

Tangible fixed

assets

Net current

assets /

(liabilities)

Net Assets

Unrestricted funds

General

1,158

134,738

135,896

General

Restricted funds

20,000

Community Support

Reserve

1,158

154,738

155,896

17. Company limited by guarantee

Linwood Community Co-operative Limited is a company limited by guarantee and accordingly does not have a share capital.

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