BANCROFT MEETING PLACE - Charities report - 18.1

REGISTERED COMPANY NUMBER: 02166849 (England and Wales)

REGISTERED CHARITY NUMBER: 297842

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2018

for

BANCROFT MEETING PLACE

(A Company Limited by Guarantee)

BANCROFT MEETING PLACE

Contents of the Financial Statements

for the Year Ended 31 March 2018

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 10

BANCROFT MEETING PLACE

Report of the Trustees

for the Year Ended 31 March 2018

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 2018. 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The company's principal activities during the year was that of promoting the benefits of the inhabitants of Bancroft and to

maintain and manage a meeting place establishment.

The company is limited by guarantee, to the extent of £1 each for current member and any other person who may have been

a member within the last year.

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

02166849 (England and Wales)

Registered Charity number

297842

Registered office

29 Hadrians Drive

Bancroft

Milton Keynes

Buckinghamshire

MK13 0QB

Trustees

MR I FRANKLIN

Chairman

MR S B BARNES

Director

MR M SNELL

Director

DR V SNELL

Director

MRS J M BARNES

Director

MRS I ENTWISTLE

Director

Company Secretary

MRS J HALSEY

Independent examiner

Mr N M PATEL

The Advance Partnership Limited

Accountants and Tax Consultants

1st Floor, 89 High Street

Newport Pagnell

Buckinghamshire

MK16 8AB

Approved by order of the board of trustees on 2 August 2018 and signed on its behalf by:

MR I FRANKLIN - Trustee

Independent Examiner's Report to the Trustees of

BANCROFT MEETING PLACE

Independent examiner's report to the trustees of BANCROFT MEETING PLACE ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2018.

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

Mr N M PATEL

The Advance Partnership Limited

Accountants and Tax Consultants

1st Floor, 89 High Street

Newport Pagnell

Buckinghamshire

MK16 8AB

2 August 2018

BANCROFT MEETING PLACE

Statement of Financial Activities

for the Year Ended 31 March 2018

31.3.18

31.3.17

Unrestricted fund

Total funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

20,665

21,328

Investment income

2

195

4

Total

20,860

21,332

EXPENDITURE ON

Raising funds

3

16,339

13,688

Other

4,674

3,616

Total

21,013

17,304

NET INCOME/(EXPENDITURE)

(153

)

4,028

RECONCILIATION OF FUNDS

Total funds brought forward

33,322

29,294

TOTAL FUNDS CARRIED FORWARD

33,169

33,322

BANCROFT MEETING PLACE

Balance Sheet

At 31 March 2018

31.3.18

31.3.17

Unrestricted fund

Total funds

Notes

£

£

FIXED ASSETS

Tangible assets

8

638

850

CURRENT ASSETS

Debtors

9

170

162

Cash at bank

34,506

35,095

34,676

35,257

CREDITORS

Amounts falling due within one year

10

(2,145

)

(2,785

)

NET CURRENT ASSETS

32,531

32,472

TOTAL ASSETS LESS CURRENT LIABILITIES

33,169

33,322

NET ASSETS

33,169

33,322

FUNDS

11

Unrestricted funds

33,169

33,322

TOTAL FUNDS

33,169

33,322

The charitable company is entitled to exemption from audit under

Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018

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.

These financial statements have been prepared in accordance with the

special provisions of Part 15 of the Companies Act 2006 relating to

charitable small companies.

The financial statements were approved by the Board of Trustees on 2 August 2018 and were signed on its behalf by:

MR I FRANKLIN -Trustee

BANCROFT MEETING PLACE

Notes to the Financial Statements

for the Year Ended 31 March 2018

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 2015)', 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.

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

- not provided

Fixtures and fittings

- 25% on reducing balance

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.

2.	INVESTMENT INCOME

31.3.18

31.3.17

£

£

Deposit account interest

195

4

3.	RAISING FUNDS

Other trading activities

31.3.18

31.3.17

£

£

Support costs

16,304

13,688

Investment management costs

31.3.18

31.3.17

£

£

Support costs

35

-

Aggregate amounts

16,339

13,688

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.18

31.3.17

£

£

Depreciation - owned assets

212

283

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2018 nor for the year ended

31 March 2017.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2018 nor for the year ended 31 March 2017.

6.	STAFF COSTS

The average monthly number of employees during the year was as follows:

31.3.18

31.3.17

Admin and support

3

3

No employees received emoluments in excess of £60,000.

7.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

21,328

Investment income

4

Total

21,332

EXPENDITURE ON

Raising funds

13,688

Other

3,616

Total

17,304

NET INCOME/(EXPENDITURE)

4,028

RECONCILIATION OF FUNDS

Total funds brought forward

29,294

TOTAL FUNDS CARRIED FORWARD

33,322

8.	TANGIBLE FIXED ASSETS

Freehold property

Fixtures and fittings

Totals

£

£

£

COST

At 1 April 2017 and 31 March 2018

1

17,548

17,549

DEPRECIATION

At 1 April 2017

-

16,699

16,699

Charge for year

-

212

212

At 31 March 2018

-

16,911

16,911

NET BOOK VALUE

At 31 March 2018

1

637

638

At 31 March 2017

1

849

850

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Prepayments and accrued income

170

162

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Accruals and deferred income

2,145

2,785

11.	MOVEMENT IN FUNDS

At 1.4.17

Net movement in funds

At 31.3.18

£

£

£

Unrestricted funds

General fund

33,322

(153

)

33,169

TOTAL FUNDS

33,322

(153

)

33,169

Net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

20,860

(21,013

)

(153

)

TOTAL FUNDS

20,860

(21,013

)

(153

)

Comparatives for movement in funds

At 1.4.16

Net movement in funds

At 31.3.17

£

£

£

Unrestricted Funds

General fund

29,294

4,028

33,322

TOTAL FUNDS

29,294

4,028

33,322

Comparative net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

21,332

(17,304

)

4,028

TOTAL FUNDS

21,332

(17,304

)

4,028

12.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2018.