Parson House Outdoor Pursuits Centre - Charities report - 21.1
Parson House Outdoor Pursuits Centre - Charities report - 21.1
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 31 March 2021 |
| for |
| Parson House Outdoor Pursuits Centre |
| Parson House Outdoor Pursuits Centre |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2021 |
| Page |
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 13 |
| Parson House Outdoor Pursuits Centre (Registered number: 01928183) |
| Report of the Trustees |
| for the Year Ended 31 March 2021 |
| 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 31 March 2021. 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). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| To promote any charitable purpose for the benefit of young people including without limitation the establishment of a centre for young people for the purpose of helping and educating such persons through their leisure time activities so as to develop their physical, mental and spiritual capacities so that they may grow to full maturity as individuals and members of society and that their conditions of life may be improved. The strategies employed to achieve the charity's objectives are to offer a full range of outdoor activities for young people. |
| We confirm that as Charity Trustees we have given due consideration, as required by s.4 Charities Act 2006, to the Charity Commission's published guidance on the operation of Public Benefit requirement for charities. |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| The year started well, with bookings from groups and Prince's Trust, then the centre closed due to the global pandemic. |
| We had to purchase new buoyancy aids, ropes and caving suits, ready for the season, which never happened. |
| The centre received grants from the Lottery covid fund, Sheffield City Council and HMRC. |
| In July/August we opened with an influx of groups, only to be closed again in September. This closure remained in place until 17 May 2021. |
| In January 2021, we finally received the bounce back loan. We also finished paying for the blue minibus. |
| We purchased a pickup in February 2021 to assist with the winter months and smaller groups. |
| The committee found it difficult to meet, so Debbie updated them via emails and telephone calls. |
| FINANCIAL REVIEW |
| Reserves policy |
| Strategy is to continue with our plans to appeal to a wider market and to build reserves through operating surpluses. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The organisation is a charitable company limited by guarantee, incorporated on 3 July 1985, and registered as a charity on 25 June 1986. The company is governed by its Memorandum and Articles of Association dated 5 August 1983 and amended on 10 October 2005. In the event of the company being wound up members are required to contribute an amount not exceeding £1. |
| Recruitment and appointment of new trustees |
| As set out in the Articles of Association the number of trustees shall not be less than three nor more than seven and at every annual general meeting one-third of the directors retire by rotation, no person other than a director retiring by rotation shall be appointed or re-appointed a director unless he is recommended by the directors. |
| Induction and training of new trustees |
| We endeavour to recruit new trustees from the local area preferably with experience in working with or for charitable organisations. If we recruit any with little or no experience it is our policy for them to be paired with someone with experience for the first year or so. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Parson House Outdoor Pursuits Centre (Registered number: 01928183) |
| Report of the Trustees |
| for the Year Ended 31 March 2021 |
| Registered Charity number |
| Registered office |
| Trustees |
| Independent Examiner |
| T Barlow ATT FMAAT |
| The Tax Team Limited |
| Omega Court |
| 368 Cemetery Road |
| SHEFFIELD |
| S11 8FT |
| 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 |
| Parson House Outdoor Pursuits Centre |
| Independent examiner's report to the trustees of Parson House Outdoor Pursuits Centre ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021. |
| 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 |
| 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. |
| T Barlow ATT FMAAT |
| The Tax Team Limited |
| Omega Court |
| 368 Cemetery Road |
| SHEFFIELD |
| S11 8FT |
| 20 September 2021 |
| Parson House Outdoor Pursuits Centre |
| Statement of Financial Activities |
| (Incorporating an Income and Expenditure Account) |
| for the Year Ended 31 March 2021 |
| 2021 | 2020 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Other trading activities | 2 |
| Investment income | 3 |
| Other income | 4 |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| Governance costs | 39,750 | - | 39,750 | 62,200 |
| Other |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
| Transfers between funds | 14 | 1,581 | (1,581 | ) | - | - |
| Net movement in funds | ( |
) | ( |
) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 794,072 |
| Parson House Outdoor Pursuits Centre (Registered number: 01928183) |
| Balance Sheet |
| 31 March 2021 |
| 2021 | 2020 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 9 |
| CURRENT ASSETS |
| Debtors | 10 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 11 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 12 | ( |
) | ( |
) |
| NET ASSETS |
| FUNDS | 14 |
| Unrestricted funds | 785,498 | 786,165 |
| Restricted funds | 7,907 |
| TOTAL FUNDS | 794,072 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006. |
| 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. |
| Parson House Outdoor Pursuits Centre (Registered number: 01928183) |
| Balance Sheet - continued |
| 31 March 2021 |
| 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 |
| Parson House Outdoor Pursuits Centre |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2021 |
| 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, as modified by the revaluation of certain assets. |
| 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. |
| Freehold property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| It is the policy of the Trustees to maintain the building in such a condition that it's useful economic life is indeterminate. In the opinion of the Trustees this policy results in the residual value of the property (by reference to the revaluation) being not less than it's present carrying value in the accounts. Consequently no depreciation is charged on Land and buildings. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company subscribes to a defined contribution scheme for its permanent employee, the contributions to the scheme are charged in the statement of financial activities as they accrue. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term whichever is shorter. |
| The interest element of these obligations is charged to the statement of financial activity over the relevant period. The capital element of the future payments is treated as a liability. |
| Parson House Outdoor Pursuits Centre |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 1. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the statement of financial activity on a straight line basis over the period of the lease. |
| 2. | OTHER TRADING ACTIVITIES |
| 2021 | 2020 |
| £ | £ |
| Adult courses |
| Shop income |
| B&B and camping | 9,419 | 12,341 |
| Climbing wall and other income | 200 | 716 |
| 3. | INVESTMENT INCOME |
| 2021 | 2020 |
| £ | £ |
| Rents received |
| Loyalty interest received | 3 | 24 |
| 4. | OTHER INCOME |
| 2021 | 2020 |
| £ | £ |
| Government grants | 48,979 | - |
| Lottery covid grant | 5,000 | - |
| 53,979 | - |
| Government grants includes local council grants and HMRC Furlough. |
| 5. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 2021 | 2020 |
| £ | £ |
| Depreciation - owned assets |
| Parson House Outdoor Pursuits Centre |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 6. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. |
| 7. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 2021 | 2020 |
| Centre manager | 1 | 1 |
| Staff | 1 | 1 |
| 8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| fund | fund | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Other trading activities |
| Investment income |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| Governance costs | 62,200 | - | 62,200 |
| Other |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| Transfers between funds | 1,978 | (1,978 | ) | - |
| Net movement in funds | ( |
) | ( |
) | ( |
) |
| Parson House Outdoor Pursuits Centre |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
| Unrestricted | Restricted | Total |
| fund | fund | funds |
| £ | £ | £ |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 794,941 | 9,885 |
| TOTAL FUNDS CARRIED FORWARD | 786,165 | 7,907 | 794,072 |
| 9. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Motor |
| property | machinery | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2020 |
| Additions |
| At 31 March 2021 |
| DEPRECIATION |
| At 1 April 2020 |
| Charge for year |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| The freehold land and buildings of £795,000 are stated at valuation. |
| Parson House Outdoor Pursuit Centre was given a open market valuation of £795,000 in May 2019 by SC Fishwick, FNAEA, FICBA. (The previous open market valuation was £775,000 in July 2013) |
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Prepayments |
| Parson House Outdoor Pursuits Centre |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts (see note 13) |
| Payments on account |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| 12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans (see note 13) |
| 13. | LOANS |
| The Charity obtained a Bounce Back Loan of £35,000 during February 2021 repayable over a term of 6 years. During the first 12 months the UK Government will pay interest due under this Loan to the Bank. From 13 months after the date of first drawdown 60 monthly repayments of capital and interest will commence. |
| 14. | MOVEMENT IN FUNDS |
| Net | Transfers |
| movement | between | At |
| At 1.4.20 | in funds | funds | 31.3.21 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 786,165 | (2,248 | ) | 1,581 | 785,498 |
| Restricted funds |
| Sustainable development/equipment | 7,907 | - | (1,581 | ) | 6,326 |
| TOTAL FUNDS | (2,248 | ) | 791,824 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 80,631 | (82,879 | ) | (2,248 | ) |
| TOTAL FUNDS | ( |
) | (2,248 | ) |
| Parson House Outdoor Pursuits Centre |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 14. | MOVEMENT IN FUNDS - continued |
| Comparatives for movement in funds |
| Net | Transfers |
| movement | between | At |
| At 1.4.19 | in funds | funds | 31.3.20 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 794,941 | (10,754 | ) | 1,978 | 786,165 |
| Restricted funds |
| Sustainable development/equipment | 9,885 | - | (1,978 | ) | 7,907 |
| TOTAL FUNDS | 804,826 | (10,754 | ) | - | 794,072 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 127,111 | (137,865 | ) | (10,754 | ) |
| TOTAL FUNDS | 127,111 | (137,865 | ) | (10,754 | ) |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net | Transfers |
| movement | between | At |
| At 1.4.19 | in funds | funds | 31.3.21 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 794,941 | (13,002 | ) | 3,559 | 785,498 |
| Restricted funds |
| Sustainable development/equipment | 9,885 | - | (3,559 | ) | 6,326 |
| TOTAL FUNDS | 804,826 | (13,002 | ) | - | 791,824 |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 207,742 | (220,744 | ) | (13,002 | ) |
| TOTAL FUNDS | 207,742 | (220,744 | ) | (13,002 | ) |
| Parson House Outdoor Pursuits Centre |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 14. | MOVEMENT IN FUNDS - continued |
| Purposes of restricted funds |
| These are grants for sustainable development/equipment expenditure included in additions to tangible fixed assets. |
| Total unrestricted funds includes revaluation reserves of £668,707 (2020 £668,707) |
| 15. | RELATED PARTY DISCLOSURES |
| There were no related party transactions for the year ended 31 March 2021. |