Park Lane Centre - Charities report - 22.2
Park Lane Centre - Charities report - 22.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2022 |
| FOR |
| PARK LANE CENTRE |
| PARK LANE CENTRE |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31st March 2022 |
| Page |
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 14 |
| PARK LANE CENTRE (REGISTERED NUMBER: 04992631) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 31st March 2022 |
| The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2022. The trustees have adopted the provisions of 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) (effective 1 January 2019). |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| Staffing |
| At the start of this financial year several staff remained on partial furlough as services were restricted. This ended in September, however due to the restrictions on some aspects of the services provided, some staff hours had to be reduced for the staff numbers to remain viable whilst the business rebuilds. A staff member was TUPE'd due to the closure of the offsite second café which was then put out to tender by the landlord. |
| Leaseholders |
| The majority of our leaseholders have remained the same during this financial year, We lost one licence holder who had outgrown the space available, but towards the end of the year, we had 2 new licence holders in place. |
| Woody's Warren, Café and Playbarn and Brook Park Cafe |
| Both cafes continued to struggle to rebuild due to the ongoing restrictions and the uncertainty of the community. Woody's Warren continued to supply nursery meals and in October started to also supply meals to our Age UK group. |
| Opening hours in both cafés were reduced to the core busy periods to save on costs and other measures were also introduced to balance figures more effectively. |
| Woody's Warren was successful in starting to increase daily trade as well as offsetting costs with its other regular contracts. |
| Unfortunately, Brook Park café was closed in December due to significant continuing losses combined with the support being received to offset the costs finishing. |
| Events |
| Whilst socially distancing and other restrictions continued, we managed to run several events over the year by making them well spaced out and running them outside where possible |
| The events are shown below: |
| Holiday Eatwell Activities |
| Summer Event |
| Environmental Event |
| Christmas Event |
| Children's disco |
| Health and Safety |
| There was 1 reportable accident during this year. |
| We continued with our planned maintenance schedule and replaced flooring and lighting in areas of the building as needed. We also replaced a large number of pumps and a motor in the plant room. |
| PARK LANE CENTRE (REGISTERED NUMBER: 04992631) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 31st March 2022 |
| Environmental |
| The Centre has continued its commitment to make as little environmental impact as possible. Cardboard, paper, glass, plastic, cans, toner cartridges, batteries and light bulbs are collected for recycling. |
| Our Biomass Boiler and funded Solar Panelling installations will help make us more environmentally sustainable through carbon neutral provision, |
| We installed 2 double electric vehicle charge points in our car park. |
| Room Bookings |
| Room bookings began to increase from September with more group and courses returning and starting up. |
| The covid vaccination centre run by Woodside Pharmacy has continued vaccinations. |
| Funding |
| Park Lane Centre has worked to apply for funding to address the needs of our community during and after the pandemic. |
| We received grants to update our computers, support a new youth club, support hirers, swapping to LED lighting and install water collection devices, install electric vehicle charge points, run a Christmas event, create Christmas packs to support isolated people over Christmas, replace some tables and to provide holiday activities and breakfast packs for families in receipt of free school meals. |
| The Future |
| Park Lane Centre continues to face financial challenges during the year as the local budgets continue to reduce and the long-term impact of the global pandemic becomes apparent. We will seek to support our existing groups as well as attracting new customers to help us remain sustainable. |
| We will continue to seek funding for capital future projects. |
| Park Lane Centre will continue to promote itself and its services at every opportunity whilst seeking out other means of increasing income. |
| Budgets will be monitored to ensure that there is no wastage of resources and contracts with suppliers will be reviewed to ensure that best value is obtained in every case. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| PARK LANE CENTRE (REGISTERED NUMBER: 04992631) |
| REPORT OF THE TRUSTEES |
| for the Year Ended 31st March 2022 |
| Trustees |
| Company Secretary |
| Independent Examiner |
| D E Ball & Co Limited |
| Chartered Accountants |
| 15 Bridge Road |
| Wellington |
| Telford |
| Shropshire |
| TF1 1EB |
| This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| Approved by order of the board of trustees on |
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
| PARK LANE CENTRE |
| Independent examiner's report to the trustees of Park Lane Centre ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2022. |
| Responsibilities and basis of report |
| As the charity's trustees of the Company (and also its directors for the purposes of company law) you 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 as 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 examiner's statement |
| Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Chartered Accountant which is one of the listed bodies. |
| 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: |
| 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 accounting 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. |
| Russell Ball |
| Chartered Accountant |
| D E Ball & Co Limited |
| Chartered Accountants |
| 15 Bridge Road |
| Wellington |
| Telford |
| Shropshire |
| TF1 1EB |
| 2nd November 2022 |
| PARK LANE CENTRE |
| STATEMENT OF FINANCIAL ACTIVITIES |
| for the Year Ended 31st March 2022 |
| 31.3.22 | 31.3.21 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Charitable activities |
| Investment income | 2 |
| Other income |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME/(EXPENDITURE) | ( |
) |
| Transfers between funds | 10 | (9,774 | ) | 9,774 | - | - |
| Net movement in funds | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 165,003 |
| PARK LANE CENTRE (REGISTERED NUMBER: 04992631) |
| BALANCE SHEET |
| 31st March 2022 |
| 31.3.22 | 31.3.21 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 10 |
| Unrestricted funds: |
| General fund | 99,733 | 45,259 |
| Building Maintenance Life Cycle Reserve | 30,085 | 30,085 |
| 75,344 |
| Restricted funds: |
| Woody's Warren Playbarn | 45,366 | 52,528 |
| Gym Grant | 6,220 | 7,916 |
| Madeley Town Council | 4,293 | 6,439 |
| Miscellaneous grants | - | 825 |
| Holiday Activities and Eat Well Fund | 668 | 153 |
| BBC Children in Need | 8,995 | 8,995 |
| Woody's Warren Covid 19 Restart grant | - | 12,803 |
| Safer Stronger Communities | 2,909 | - |
| Well Being Cafe | 3,000 | - |
| 89,659 |
| TOTAL FUNDS | 165,003 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006. |
| PARK LANE CENTRE (REGISTERED NUMBER: 04992631) |
| BALANCE SHEET - continued |
| 31st March 2022 |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
| The financial statements were approved by the Board of Trustees and authorised for issue on |
| PARK LANE CENTRE |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31st March 2022 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| Financial reporting standard 102 - reduced disclosure exemptions |
| The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
| • | the requirements of Section 7 Statement of Cash Flows; |
| • | the requirement of paragraph 3.17(d); |
| • | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); |
| • | the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A; |
| • | the requirement of paragraph 33.7; |
| • | the requirement of paragraph 24(b) of IFRS 6. |
| Income |
| All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
| Expenditure |
| Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Woody's Warren playbarn | - |
| Computer equipment | - |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| PARK LANE CENTRE |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st March 2022 |
| 1. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
| 2. | INVESTMENT INCOME |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Deposit account interest |
| 3. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Depreciation - owned assets |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31st March 2022 nor for the year ended 31st March 2021. |
| Related party disclosures |
| RC Evans and K Middleton are Trustees of Park Lane Centre and Councillors for Telford & Wrekin Council. In the year ended 31 March 2022, RC Evans and K Middleton allocated £1,000 being part of their share of the Councillors' Pride Fund to Park Lane Centre with a requirement that it is used to reduce feelings of loneliness and improve mental well being through providing a meal along with well being activities for people in Woodside who are by themselves at Christmas. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31st March 2022 nor for the year ended 31st March 2021. |
| 5. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 31.3.22 | 31.3.21 |
| Administration | 2 | 2 |
| Charitable activities | 14 | 14 |
| PARK LANE CENTRE |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st March 2022 |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| funds | funds | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Charitable activities |
| Investment income |
| Other income |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 42,132 | 77,888 |
| TOTAL FUNDS CARRIED FORWARD | 75,344 | 89,659 | 165,003 |
| 7. | TANGIBLE FIXED ASSETS |
| Fixtures | Woody's |
| Plant and | and | Warren | Computer |
| machinery | fittings | playbarn | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1st April 2021 |
| Additions |
| At 31st March 2022 |
| DEPRECIATION |
| At 1st April 2021 |
| Charge for year |
| At 31st March 2022 |
| NET BOOK VALUE |
| At 31st March 2022 |
| At 31st March 2021 |
| PARK LANE CENTRE |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st March 2022 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| 10. | MOVEMENT IN FUNDS |
| Net | Transfers |
| movement | between | At |
| At 1.4.21 | in funds | funds | 31.3.22 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 45,259 | 64,248 | (9,774 | ) | 99,733 |
| Building Maintenance Life Cycle Reserve | 30,085 | - | - | 30,085 |
| 64,248 | ( |
) |
| Restricted funds |
| Woody's Warren Playbarn | 52,528 | (7,162 | ) | - | 45,366 |
| Gym Grant | 7,916 | (1,696 | ) | - | 6,220 |
| Madeley Town Council | 6,439 | (2,146 | ) | - | 4,293 |
| Miscellaneous grants | 825 | (916 | ) | 91 | - |
| Holiday Activities and Eat Well Fund | 153 | 515 | - | 668 |
| BBC Children in Need | 8,995 | - | - | 8,995 |
| Woody's Warren Covid 19 Restart grant | 12,803 | (12,803 | ) | - | - |
| Safer Stronger Communities | - | 2,909 | - | 2,909 |
| Councillors Pride Fund | - | (606 | ) | 606 | - |
| T&W Climate Change Fund | - | (625 | ) | 625 | - |
| Breakfast provision | - | (424 | ) | 424 | - |
| Brook Park Cafe | - | (8,028 | ) | 8,028 | - |
| Well Being Cafe | - | 3,000 | - | 3,000 |
| (27,982 | ) |
| TOTAL FUNDS | 36,266 | 201,269 |
| PARK LANE CENTRE |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st March 2022 |
| 10. | MOVEMENT IN FUNDS - continued |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 360,946 | (296,698 | ) | 64,248 |
| Restricted funds |
| Woody's Warren Playbarn | 28,163 | (35,325 | ) | (7,162 | ) |
| Gym Grant | - | (1,696 | ) | (1,696 | ) |
| Madeley Town Council | - | (2,146 | ) | (2,146 | ) |
| Miscellaneous grants | - | (916 | ) | (916 | ) |
| Holiday Activities and Eat Well Fund | 5,372 | (4,857 | ) | 515 |
| Woody's Warren Covid 19 Restart grant | - | (12,803 | ) | (12,803 | ) |
| Safer Stronger Communities | 3,000 | (91 | ) | 2,909 |
| Councillors Pride Fund | 2,086 | (2,692 | ) | (606 | ) |
| Twemlows Community funding | 3,228 | (3,228 | ) | - |
| T&W Climate Change Fund | 6,500 | (7,125 | ) | (625 | ) |
| Breakfast provision | 3,899 | (4,323 | ) | (424 | ) |
| Brook Park Cafe | 8,799 | (16,827 | ) | (8,028 | ) |
| Coronavirus Job Retention Scheme | 13,605 | (13,605 | ) | - |
| Well Being Cafe | 3,000 | - | 3,000 |
| ( |
) | (27,982 | ) |
| TOTAL FUNDS | ( |
) | 36,266 |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.4.20 | in funds | 31.3.21 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 12,047 | 33,212 | 45,259 |
| Building Maintenance Life Cycle Reserve | 30,085 | - | 30,085 |
| 42,132 | 33,212 | 75,344 |
| Restricted funds |
| Woody's Warren Playbarn | 59,690 | (7,162 | ) | 52,528 |
| Gym Grant | 9,612 | (1,696 | ) | 7,916 |
| Madeley Town Council | 8,586 | (2,147 | ) | 6,439 |
| Miscellaneous grants | - | 825 | 825 |
| Holiday Activities and Eat Well Fund | - | 153 | 153 |
| BBC Children in Need | - | 8,995 | 8,995 |
| Woody's Warren Covid 19 Restart grant | - | 12,803 | 12,803 |
| 77,888 | 11,771 | 89,659 |
| TOTAL FUNDS | 120,020 | 44,983 | 165,003 |
| PARK LANE CENTRE |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st March 2022 |
| 10. | MOVEMENT IN FUNDS - continued |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 271,205 | (237,993 | ) | 33,212 |
| Restricted funds |
| Woody's Warren Playbarn | 3,909 | (11,071 | ) | (7,162 | ) |
| Gym Grant | - | (1,696 | ) | (1,696 | ) |
| Madeley Town Council | - | (2,147 | ) | (2,147 | ) |
| Miscellaneous grants | 13,272 | (12,447 | ) | 825 |
| Holiday Activities and Eat Well Fund | 10,054 | (9,901 | ) | 153 |
| BBC Children in Need | 8,995 | - | 8,995 |
| Woody's Warren Covid 19 Restart grant | 12,803 | - | 12,803 |
| Breakfast provision | 25,336 | (25,336 | ) | - |
| Brook Park Cafe | 12,897 | (12,897 | ) | - |
| Coronavirus Job Retention Scheme | 49,001 | (49,001 | ) | - |
| Stay at Home grant | 13,110 | (13,110 | ) | - |
| 149,377 | (137,606 | ) | 11,771 |
| TOTAL FUNDS | 420,582 | (375,599 | ) | 44,983 |
| 11. | RELATED PARTY DISCLOSURES |
| 12. | DESIGNATED FUNDS |
| Building Maintenance Life Cycle Reserve |
| This reserve is maintained as a sinking fund to ensure adequate financial resources are available for large cyclical repair and maintenance projects that will be required to maintain the fabric of the building. |
| 13. | RESTRICTED FUNDS |
| Woody's Warren Playbarn |
| This represents a grant provided by Telford & Wrekin Council to assist the purchase of a bespoke soft play area within the Centre. The depreciation charge relating to this fixed asset is allocated against this restricted fund. |
| Gym |
| This year saw one of our longest leaseholders retiring and selling his business. After over 30 Years on the estate he wished to give something back to the community he has served. In this case he agreed to pay for Park Lane Centre to have an outdoor gym that would be accessible to members of the public 24/7. The depreciation charge relating to this fixed asset is allocated against this restricted fund. |
| Madeley Town Council |
| This funding was provided as pait of the Telford and Wrekin at 50 Fund. Park Lane Centre were provided this grant to purchase new booth seating for our cafe area ready for the new Woodside youth project. The depreciation charge relating to this fixed asset is allocated against this restricted fund. |
| BBC Children in Need |
| This funding is for groups of local young people to come together to create and carry out community projects locally using their priorities and experiences as the basis for each project. |
| PARK LANE CENTRE |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st March 2022 |
| 13. | RESTRICTED FUNDS - continued |
| Woody's Warren Covid 19 Restart |
| This funding is a grant from Telford & Wrekin Council to help the Centre to restart the on site cafe and play area following the Covid 19 restrictions. |