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

LINWOOD COMMUNITY CO-OPERATIVE LTD - Company Information

2017-04-01 04989222 2018-03-31 04989222 2017-04-01 2018-03-31 04989222 uk-bus:Director1 2017-04-01 2018-03-31 04989222 uk-bus:Director1 2018-03-31 04989222 uk-bus:Director2 2017-04-01 2018-03-31 04989222 uk-bus:Director2 2018-03-31 04989222 uk-bus:Director3 2017-04-01 2018-03-31 04989222 uk-bus:Director3 2018-03-31 04989222 uk-bus:Director4 2017-04-01 2018-03-31 04989222 uk-bus:Director4 2018-03-31 04989222 uk-bus:Director5 2017-04-01 2018-03-31 04989222 uk-bus:Director5 2018-03-31 04989222 uk-bus:Director6 2017-04-01 2018-03-31 04989222 uk-bus:Director6 2018-03-31 04989222 uk-bus:Director7 2017-04-01 2018-03-31 04989222 uk-bus:Director7 2018-03-31 04989222 uk-bus:Director8 2017-04-01 2018-03-31 04989222 uk-bus:Director8 2018-03-31 04989222 uk-bus:Director9 2017-04-01 2018-03-31 04989222 uk-bus:Director9 2018-03-31 04989222 2017-03-31 04989222 2016-04-01 2017-03-31 04989222 uk-char:TotalRestrictedIncomeFunds 2017-04-01 2018-03-31 04989222 uk-char:TotalUnrestrictedFunds 2017-04-01 2018-03-31 04989222 uk-core:WithinOneYear 2018-03-31 04989222 uk-core:WithinOneYear 2017-03-31 04989222 uk-char:TotalRestrictedIncomeFunds 2018-03-31 04989222 uk-char:TotalRestrictedIncomeFunds 2017-03-31 04989222 uk-char:TotalUnrestrictedFunds 2018-03-31 04989222 uk-char:TotalUnrestrictedFunds 2017-03-31 04989222 uk-core:FurnitureFittings 2017-04-01 2018-03-31 04989222 uk-core:ComputerEquipment 2017-04-01 2018-03-31 04989222 uk-char:Activity1 2017-04-01 2018-03-31 04989222 uk-char:Activity1 2016-04-01 2017-03-31 04989222 uk-char:Activity2 2017-04-01 2018-03-31 04989222 uk-core:MotorVehicles 2017-03-31 04989222 uk-core:ComputerEquipment 2017-03-31 04989222 uk-core:ComputerEquipment 2018-03-31 04989222 uk-core:MotorVehicles 2018-03-31 04989222 uk-core:MotorVehicles 2017-04-01 2018-03-31 04989222 uk-char:TotalUnrestrictedFunds uk-char:MaterialFund1 2017-04-01 2018-03-31 04989222 uk-char:TotalUnrestrictedFunds uk-char:MaterialFund1 2016-04-01 2017-03-31 04989222 uk-char:TotalUnrestrictedFunds 2016-04-01 2017-03-31 04989222 uk-char:MaterialFund1 2017-04-01 2018-03-31 04989222 uk-char:MaterialFund2 2017-04-01 2018-03-31 iso4217:GBP xbrli:pure 04989222 uk-bus:AuditExemptWithAccountantsReport 2017-04-01 2018-03-31 04989222 uk-bus:FRS102 2017-04-01 2018-03-31 04989222 uk-bus:FullAccounts 2017-04-01 2018-03-31

(England and Wales)

Company number: 04989222

Charity number: 1102382

Linwood Community Co-operative Limited

For the year ended 31 March 2018

Trustees Report and Unadudited Financial Statements

For the year ended 31 March 2018

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 2018

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 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 the Republic of Ireland (FRS 102) (effective 1 January 2015).

Chair's report

This has been a 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 was a major project during the year and the team's efforts have produced

a steady increase in usage and the Centre is moving towards financial stability.

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.

Ongoing 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 severl 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 estae 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 Commision'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.

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.

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For the year ended 31 March 2018

Linwood Community Co-operative Limited

Report of the Trustees Continued

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. The charity has during the year taken over the running of Corby Old Village Community Centre. There has already been a steady increase in usage and is moving towards financial stability.

Achievements against objectives

The trustees feel that charity has been extermely 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. Core funding is received from Corby Borough Council and the contribution received in the current year amounted to £17,200 (2017: £20,050).. Other grant funding has seen a decline from regular contributors, the amounts received in the current year amounts to £18,277 (2017: £28,602). The trustess 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 £89,712 (2017: £78,761). Through careful control of costs the trustees are pleased to report a surplus for the year of £39,266 (2017: £42,558).

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 is being further developed to engage with the local community and it is hoped to see continued improvement in the coming year The charity will need 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 £135,650 unrestricted reserves at the year end (2017: £96,383). It is the aim of the charity to hold reserves representing six months operating costs. At 31 March 2018 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 earmaked by the charity to help local groups to get established and become sustainable.

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 memeber of the company; at the year end there were 8 members.

The charity has eight trustees, the majority of whom 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.

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For the year ended 31 March 2018

Linwood Community Co-operative Limited

Report of the Trustees Continued

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

C Welsh

G K Hill

L E Johnston

J Wood

K Carratt (Resigned on 01/12/2017)

(Resigned: 01 December 2017)

S J Ford

T O'Neill

J M Freeman

McIntyre & McIntyre

Independent examiners

6A Ryder Court

Saxon Way East

Corby

Northamptonshire

NN18 9NX

Barclays Bank plc

Bankers

1 Queens Square

Corby

Northamptonshire

NN17 1PD

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

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

15 October 2018

J Wood

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For the year ended 31 March 2018

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 2018.

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

15 October 2018

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For the year ended 31 March 2018

Linwood Community Co-operative Limited

Statement of Financial Activities (including Income and Expenditure Account)

Notes

2017

2018

Restricted

funds

Unrestricted

funds

Income and endowments from:

Donations and legacies

35,477

68,152

35,477

Charitable activities

89,712

78,761

89,712

Investments

Total

125,217

146,925

125,217

Expenditure on:

Charitable activities

(85,703)

(104,367)

5/6

Total

(85,703)

(104,367)

(85,703)

39,514

42,558

39,514

Net income/expenditure

Reconciliation of funds

Total funds brought forward

73,825

116,384

20,000

96,384

Total funds carried forward

135,898

20,000

155,898

116,383

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As at 31 March 2018

Linwood Community Co-operative Limited

Statement of Financial Position

Registered Number :

04989222

Notes

2018

2017

Fixed assets

Tangible assets

1,158

1,468

1,158

1,468

Current assets

5,444

6,258

Debtors

Cash at bank and in hand

155,180

112,713

160,624

118,971

Creditors: amounts falling due within one year

(5,888)

(4,054)

Net current assets

154,736

114,917

Total assets less current liabilities

155,894

116,385

Net assets

155,894

116,385

The funds of the charity

Restricted income funds

20,000

Unrestricted income funds

135,898

96,383

Total funds

155,898

116,383

For the year ended 31 March 2018 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:

15 October 2018

J Wood

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For the year ended 31 March 2018

Linwood Community Co-operative Limited

Notes to the Financial Statements

1. Accounting Policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 (FRS 102), and the Companies Act 2006. Linwood Community Co-operative Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

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 prepairing 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. 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 entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Income from local government and other grants, whether capital grants or revenue grants, is recognised when the charity has entitlement to the funds, 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.

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

Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure:

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.

Taxation

As a charity, Linwood Community Co-operative Limited, is exempt from tax on income and gains falling within section 478 of the Corporation Taxes Act 2010 or section 256 of Taxation of Chargeable Gains Act 1992. No charges have arisen.

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

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For the year ended 31 March 2018

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

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.

2. Income from donations and legacies

2017

2018

Unrestricted funds

Grants received

68,152

35,477

68,152

35,477

Analysis of grants received

2018

2017

17,200

20,050

Corby Borough Council

10,000

NCF

8,277

28,102

Others

48,152

35,477

8 of 15

For the year ended 31 March 2018

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

3. Income from charitable activities

2017

2018

Unrestricted funds

Kingswood Community Centre

35,229

31,470

Cafe sales

47,421

45,781

Income from facilities

1,510

Management fee

82,650

78,761

Corby Old Village Community

Centre

7,062

Income from facilities

78,761

89,712

4. Investment income

2017

2018

Unrestricted funds

Bank interest receivable

5. Costs of charitable activities by fund type

2017

2018

Unrestricted funds

71,709

40,641

Kingswood Community Centre

1,170

Corby Old Village Community

Centre

32,658

43,892

Support costs

104,367

85,703

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For the year ended 31 March 2018

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

6. Costs of charitable activities by activity type

2017

2018

Support costs

Activities

undertaken

directly

Support costs

Kingswood Community Centre

82,406

41,765

40,641

104,367

Corby Old Village Community

Centre

3,297

2,127

1,170

41,811

43,892

85,703

104,367

7. Analysis of support costs

2017

2018

Kingswood Community Centre

Management

22,570

20,405

Governance costs

21,322

12,253

32,658

43,892

8. Net income/(expenditure) for the year

This is stated after charging/(crediting):

2018

2017

Depreciation of owned fixed assets

310

398

Auditor's fees

1,200

Trustees' remuneration

22,570

20,405

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For the year ended 31 March 2018

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

9. Staff costs

Total staff costs for the year ended 31 March 2018 were:

2018

2017

Salaries and wages

44,870

40,903

44,870

40,903

2018

2017

Direct charitable work

Trustees

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

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.

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

Mrs L Johnston Trustee and director Salary £22,570 (2017: £20,405)

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For the year ended 31 March 2018

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

11. Comparative for the Statement of Financial Activities

2017

Restricted

funds

Unrestricted

funds

Income and endowments from:

Donations and legacies

68,152

20,000

48,152

Charitable activities

78,761

Investments

Total

146,925

20,000

126,925

Expenditure on:

Charitable activities

(104,367)

Total

(104,367)

42,558

20,000

22,558

Net income

Reconciliation of funds

Total funds brought forward

73,825

Total funds carried forward

96,383

20,000

116,383

12. Tangible fixed assets

Motor vehicles

Computer

equipment

Total

Cost or valuation

5,918

1,120

4,798

At 01 April 2017

At 31 March 2018

4,798

1,120

5,918

Depreciation

4,450

993

3,457

At 01 April 2017

Charge for year

310

268

4,760

1,035

3,725

At 31 March 2018

Net book values

At 31 March 2018

At 31 March 2017

1,073

1,341

127

1,158

1,468

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For the year ended 31 March 2018

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

13. Debtors

2018

2017

Amounts due within one year:

Trade debtors

5,069

5,916

Prepayments and accrued income

375

342

5,444

6,258

14. Creditors: amounts falling due within one year

2018

2017

Trade creditors

2,258

237

Other creditors

2,430

1,153

Accruals and deferred income

1,200

2,664

5,888

4,054

15. Movement in funds

Unrestricted Funds

Balance at

01/04/2017

Incoming

resources

Outgoing

resources

Balance at

31/03/2018

General

96,384

125,217

(85,703)

135,898

General

96,384

125,217

(85,703)

135,898

Unrestricted Funds - Previous year

Balance at

01/04/2016

Incoming

resources

Outgoing

resources

Balance at

31/03/2017

General

73,825

126,925

(104,367)

96,383

General

73,825

126,925

(104,367)

96,383

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For the year ended 31 March 2018

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

Purpose of unrestricted Funds

General

This fund is maintained to provide community facilities.

Purpose of restricted funds

Community Support Reserve

To support local groups to get established and become sustainable.

16. Analysis of net assets between funds

Tangible fixed

assets

Net current

assets /

(liabilities)

Net Assets

Unrestricted funds

General

1,158

134,736

135,894

General

Restricted funds

20,000

Community Support

Reserve

1,158

154,736

155,894

Previous year

Tangible fixed

assets

Net current

assets /

(liabilities)

Net Assets

Unrestricted funds

General

1,468

94,917

96,385

General

Restricted funds

20,000

Community Support

Reserve

1,468

114,917

116,385

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For the year ended 31 March 2018

Linwood Community Co-operative Limited

Notes to the Financial Statements Continued

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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