NORWICH_OPEN_CHRISTMAS_LI - Accounts

The trustees present their report and financial statements for the year ended 31 March 2021.

The trustees who are also directors of the charity for the purpose 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 2015).

To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society. For the purpose of this clause socially excluded means being excluded from society, or in parts of society, as a result of one or more of the following factors: unemployment; financial hardship; youth or old age; ill health (physical/mental); substance abuse or dependency including alcohol or drugs; discrimination on the grounds of sex, race, disability, ethnic origin, religion, belief, creed, sexual orientation or gender reassignment; poor educational or skills attainment; relationship and family breakdown; poor housing (that is housing that does not meet basic habitable standards); crime (either as a victim or crime or as an offender rehabilitating into society).

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

An event to provide a traditional Christmas Lunch and Christmas tea plus an afternoon of varied entertainment. Whilst based on Christian concepts, it is open to all socially excluded people, especially those who are lonely or homeless, irrespective of religious belief. Guests are asked to choose donated clothing and take away non-perishable foodstuff. In addition then charity tries to ensure no one sleeps on the streets on Christmas night (unless it is their choice) by block booking (and paying for) a small number of hotel rooms in Norwich. To ensure that we are as inclusive as possible we provide free transport, including a disabled persons' vehicle to and from the venue.

Due to Covid restrictions the charity was unable to hold its usual event. In its place it provided an outside Festive Food Stall which welcomed over 40 people and made home deliveries of over 200 food parcels to those in need of support.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Charity needs to raise over £10,000 each year, in money and kind, to hold the event, The trustees believe that the number of guests will continue to rise each year as will the need to raise increased donations. Excess reserves are carried forward to ensure that future events are funded. The charity also ensures that sufficient reserves are kept to fund the hire of the venue in case future grant funding is unavailable.

The trustees has assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The Charity is controlled by its governing document, a deed of trust, and is constituted as a company, limited by guarantee, as defined by the Companies Act 2006.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

New Trustees are appointed by existing members of the Board. Future appointments are likely to be selected from the Charities existing pool of supporters and will be people closely associated with the Charity and supportive of its ethos and objectives.

Mr W M Ashton, a trustee of the charity, has been delegated with the day to day management of the company.

New Trustees will be inducted into the charity following their appointment by an existing member of the Board. If necessary training will be provided in order to ensure that they are able to fulfil their obligations as trustee.

The trustees' report was approved by the Board of Trustees.

It is your duty to ensure that Norwich Open Christmas Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Norwich Open Christmas Limited. You consider that Norwich Open Christmas Limited is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of Norwich Open Christmas Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2021.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Norwich Open Christmas Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 4b Church Street, Diss, Norfolk, IP22 4DD.

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled.

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Food

Hire of venue

Consumables

Equipment purchases

Cleaning

Protective clothing

Equipment hire

Storage

Insurance

Telephone

Postage and stationary

Sundries

Travel

Security

Licences

The average monthly number of employees (including trustees who are also directors for the purposes of the Companies Act 2006) during the year was:

There were no disclosable related party transactions during the year (2020 - none).