Charity registratlon number 1003108
Company registration number 02588109 (England and Wales)
STOCKFIELD COMMUNITY ASSOCIATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

STOCKFIELD COMMUNITY ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs A J Millward
MrA W Baker
Ms V Dautovic
Mrs R L Fulwell
Mrs J Harris-Thomson
Mrs E A Leach
Mr M J Russell
Mr D G Stokes
Mrs PA Wagg
Charity number
1003108
Company number
02588109
Registered office
New Media House
Davidson Road
Lichfield
WS14 9DZ
Auditor
Haslehursts Limited
88 Hill Village Road
Sutton Coldfield
West Midlands
England
B75 5BE

STOCKFIELD COMMUNITY ASSOCIATION
CONTENTS
Page
Trustees, report
Independent auditor's report
ststement of financial activities
Statement ol financial position
Statement of cash Ilows
10
Notes lo the financial statements

STOCKFIELD COMMUNITY ASSOCIATION
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2023
The truslees present their annual report and financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note I to the
financial statements and comply with the charily's governing document, Ihe Companies Acl 2006 and "Accounting
and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their aGcounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102)" (effective 1 January 2019).
Objectives and activities
The company is limited by guarantee and is registered as a charity (Registered No 1003108).
The company's main aims and principal activities for Ihe year under review was that of providing social housing for
rent in the Stockfield area of Birmingham and pursuing the possible development of Communiiy facilities.
The Charity has the following objectives-.
To promole the benefit of the inhabitants of the area of Stockfield and its neighbourhood in the City of
Birmingham without distinction of sex, race or of political, religious or other opinions, by associating
together representatives of the said inhabitants and vanous other persons in a common effort to provide
facilities in the interest of social welfare for recreation and leisure-time occupation with the object of
improving the conditions of lrfe for Ihe said inhabitants.
To carry on for the benefit of the community in the City of Birmingham the business of providing social
housing and any associated amenities for the persons in necessitous circumstances upon tenns
appropriate to their means.
To promote any charitable purpose for the benefft of the inhabitants of the area of benefit and in particular
the advancement of education and relief of poverty.
Strategies for aGhieving aims and objectives
Keep under review SeNice Level Agreements with various providers.
Maintain contacts with various seryice providers to ensure local government services are up to standard.
Woth with various organisations to bring about improvements to, or the establishment of, Community
facilities.
Continue to invite attendance at Board and other meetings key personnel from Birmingham City Counul,
Bromford Housing Group and others.
Promote as widely as possible the work of the Association.
Public benefit
The trustees have paid due regard lo guidance issued by the Charily Commission in deciding what activities the
harity should undertake.
Achlevements and perfomiance
Significant activities and achievements against objectives
Establishmenl of the first Community Association of ils type in the UK.
In partnership with Birmingham City Council, Bromford Housing and local residents bringing about the
physical regeneration of the Stockfield Estate.
Provision of 121 social houses for rent.
Provision of the Stockfield Community Resour￿ Centre.
The Association continued to provide well managed and maintained affordable Social Housing for rent. There have
been no long temi voids and 990/0 of all emergency repairs, 98D/o of urgent repairs and 930A of routine repairs were
carried out within the response targets sel.

STOCKFIELD COMMUNITY ASSOCIATION
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Financial review
The charity's principal funding source was rent receivable, during the year the charity received rents of £622,789
(2022 - £597,051).
A summary of thè Charity's finances is get out in the attached financial statements for the year ended 31 DeGember
2023.
ReseNes policy
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 eqL5ivalent to between three and six month's expenditure. The trustees consider 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.
Plans for future periods
The trustees review the aims, objectives and activities each year. The review looks at the success of each key
activity and the benefits they have brought to the groups of people of whom it was intended. The Trustees have
referred to the guidance contsined in the Charity Commission's general guidance on public benefit when reviewing
aims and objectives. The Association aims to..
Continue to provide well managed and mainlained affordable Social Housing for renl and to invesl in
additional dwellings when funding allows.
Implement a central heating upgrade programme to improve efficiency and reduce running costs of heating
tenant's homes.
Continue to provide a targeted Money Advice Service for its tenants, in conjunction with its Managing
Agent, aimed at reducing long term and new arrears and help individuals maximise their income potential.
Work with Birmingham City Council, Bromford Housing Group, Laker Building Solutions and other providers
to ensure the Stockfield Estate 15 well maintained.
Develop and improve the Asso(#ation's Web Site.
Community Safety: to continue to build further good relations with the Police.
Develop and improve relationships with Birmingham City Council lo work logether to improve local se￿I￿S
for the benefit of local residents.
To organise community events, including the Summer Fun Day, Gardening Competition, Christmas Cracker
and a Christmas Event for over 55s. Work will continue to provide a programme of events to utilise grant
funding achieved since 2019.
Publish Stockfield newsletters quarterly to provide news and information communicating good news about
the neighbourhood and encouraging resident participation.
Continue to work with FITCAP and local schools to carry out valuable work with the young people of
Stockfield, build links with the rest of Ihe community and help raise the aspirations of the young people.
Maintain and improve the involvement in local affairs of local residents and partner organisations serving
stockfield.
Investigate strategies for the provision of community facilities for the benefit of Stockfield residents.
Seek grant funding to enable innovative projects to be undertaken for the benefit of the community.
The Association wishes to thank all those individuals, Community Groups, local schools and Churches and Public
and Private sector undertakings which have assisted the endeavours of Ihe Charity during this and previous years.
Structure, govemance and management
The organisation is a charitable company limited by guarantee, incorporated 19 February 1991 as amended by
special re501utions dated 1 July 1994, 16 October 1998, 19 March 1999, 18 June 2001. 27 July 2001, 24 March
2006 and 26 April 2013. The company was established under a Memorandum and Articles of Association, which
imposes restrictions on the scope of the Charity's operations. The activities of the Charity are limited to those
related to the regeneration of its area of benefit and the promotion of the benefit of the inhabitants of ils area of
benefit. The Memorandum of Association provides that the Charity has the power lo invesl money not inmediately
required for the Charity's objects in such investments, securities or property as may be thoughl fit by the company.
The Gompany is govemed under its Articles ofAssociation. In the event of the company being wound up, members
are required lo contribute an amount not exceeding £1.00.

STOCKFIELD COMMUNITY ASSOCIATION
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees, who are also the directors for the purpose of company law, and who served during Ihe year and up lo
the date of signature of the financial statements were..
MrsA J Millward
MrA W Baker
Ms V Dautovic
Mrs R L Fulwell
Mrs J Harris-Thomson
Mrs E A Leach
Mr M J Russell
Mr D G Stokes
Mrs P A Wagg
ReGruitment and appointment of trustees
The Board of Directors of the Charity consists of 2 Directors nominated by Bromford Housing Group, 2 Independent
Directors, 2 nominees of Bimiingham City Council, and 6 locally elected resident Directors.
The Directors of the company are also charity Trustees for the purpose of charity law and under the company's
Articles of Association the Local members of the Board are elected by ballot of the Residents of the benefit area to
serve foi a period of 3 years, after which they must be re-eleded al the next eleclion. Elections are nomially held
every three years. When vacancies arise for Local tnembers, residents of the benefit area can be co-opted to the
Board until the next election takes place. Nominated Directors are appointed and removed by the relevant
organisations. The Board appoints the independent Directors by invitation.
Organisational stnjcture
The Board of Trustees meet at least 10 times per annum. The general control and management of the
administration of the Charity is undertaken by the Board of Trustees. The Board is significantly comprised of
democratically elected Ico-opted representatives of the local community, and are half of the Board members.
Further Trustees are nominated by Birmingham City Council 12) Bromford Housing Group (2) and there are bNO
independent Trustees. Within those twelve Trustees are the Chair and the Secretary.
The Charity received Housing Management Services from Bromford Housing Group and Repairs and Ground
Maintenance Semces from Citizen HaL¢sing Group Limited, pursuant to contractual arrangements. Laker Building
Solutions were appointed to replace Citizen Housing Group with effecl from 1 July 2023.
Leon Stephens of Brookes Stephens Chartered ArKountants is the Independent Accountant to the Charity. Legal
Services are provided by Anthony Collins Solicitors.
Induction and training of tnistees
Tnjstees are given a full induction to the organisalion by Anthony Collins Solicitors, other Directors and the
¢ompany'5 advisers. They are made aware of the Mission and Vision Statemenls and Ihe current Business Plan of
the organisation and their expected role and responsibilities in relation lo thi5 and to the requirements of the Charity
Commission. Local residents may attend Board Meetings on an observer basis prior to offering themselves for
election.
Relationship M-th related parties
The Charity has a subsidiary company, Stockfield Community Association (Subsidiary) Limited which 15 a non-
charitable company limited by guarantee not having a share capital, whose business is mainly to procure the
building of houses which are sold by their developers for profit. To date the SLSbsidiary has restrided its activities to..
Buying redevelopment land from Birmingham City Council;
Allowing developers, under DevelopmentAgreements to build houses on land.,
Disposing of such houses to owner-occupiers.
Colleding Ground Rents from under leasehold owner occupiers.
The Subsidiary is a wholly owned subsidiary ofthe Charity.

STOCKFIELD COMMUNITY ASSOCIATION
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Statement of trustees. responsibilities
The trustees, who are also the directors of Slockfield Community Association for the purpose of company law, are
responsible for preparing the Trustees, Report and the financial statements in acKordance with applicable Saw and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Ac¢ounling Praclice).
Company Law requires the trustees to preparè financial statements for each financial year which give a true and fair
view of the stste of affairs of the charity and of the incoming resources and application of resources, including the
income and expenditure, of the charitable company for that year.
In preparing these financial statemenls, the trustees are required lo:
select suitable accounling policies and then apply them Consistently.,
observe the methods and principles in the Charilies SORP.,
make judgements and estimates that are reasonable and prudent.. and
prepare the finanaal statements on the going concern basis unless il is inappropriate to presume that the charity
will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and enable them lo ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charily and hence for laking
reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Haslehursts Limited were appointed as auditor to the company and a resolution proposing that Ihey be re-appointed
will be put at a General Meeting.
The trustees, report was approved by Ihe Board of Trustees.
Mrs A J Millward
Trustee
Date..

STOCKFIELD COMMUNITY ASSOCIATION
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF STOCKFIELD COMMUNITY ASSOCIATION
Opinion
We have audited the financial statements of Stockfield Community Association {the 'charity') for the year ended 31
December 2023 which comprise the statement of financial activities, the statement of financial position, the
statement of cash flows and notes lo the financial statements, including significant accounting pOI￿leS. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and
Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial slatements..
give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its
incoming resources and application of resources, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally AC￿pted Accounting Practi￿.,
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit ol
the financial statements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of Ihe financial slatemenls in the UK, including the FRC'S Elhical
standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded thal the tTU51ees' use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have nol identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability to conlinue a5 a going
oncern for a period of at least bNelve nionths from when the financial statements are aulhorised for issue.
Our responsibililies and the responsibilities of the trustees with respecl to going concern are described in the
relevant sections of this report.
Other infomiation
The other information comprises the informalion included in the annual report olher than the finar￿181 statements
and our auditols report thereon. The trustees are responsible for the olher informalion Gontained within the annual
report. Our opinion on the financial statements does not cover the other information and we do not express any form
of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider
whether the other information is malerially inconsistenl with the financial statements or our knowledge obtained in
the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies
or apparent material misstatements, we are required lo determine whelher this gives rise to a material misstatement
in the financial slatements themselves. If. based on the work we have performed, we conclude that Ihere is a
material misstatement of this other infomation, we are required to report Ihat facl.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and
Report5) Regulations 2008 require us to report to you if, in our opinion..
the information given in the financial slatements is inconsistent in any material respect with the Irustees,
report., or
sufficient accounting record5 have not been kept,. or
the financial statements are not in agreement wilh Ihe accounting records., or
we have not received all the infomiation and explanalions we require for our audit.

STOCKFIELD COMMUNITY ASSOCIATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF STOCKFIELD COMMUNITY ASSOCIATION
Responsibilities of trustees
As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the direclors of the
charity for the purpose of company law, are responsible for the preparation of the financial statements and for being
satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to
enable the preparation of financial statÉments that are free from materi21 misstatement, whether due to fraud or
Èrror. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to
continue as a going concern, disclosing, as applicable, malters related to going concern and using the going
concern basis of accounting unless the trustees either intend to liquidale the charitable company or lo cease
operations, or have no realistic alternative but to do so.
Auditorfs responsibilities for the audit of the financial ststements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the
Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error. and to issue an auditovs report that indudes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
The exlenl to which our procedures are Gapable of detecting irregularities, including fraud, is detailed below.
We obtained an understanding of the company's legal and regulatory framework and the industry in which it
operates. We considered Ihe risk of acts by the company that might have contravened applicable laws and
regulations, including fraud. Our audit procedures were designed to respond to the risk, recognising that the risk of
not detecling a material misstatement due lo fraud is higher than the risk of not detecting one reS￿tIng from error,
as fraud may involve deliberate concealment by way of forgery, intentional representations or through collusion.
We focussed on laws and regulations which could give rise lo a material misstatement in the finanaal 5talements,
including, but not limiled to Ihe Companies Act 2006 and UK tax legislation. Our tests included agreeing the
financial statement disclosures to underlying supporting doc'Jmentation, enquiries with management and third party
company representatives. There are inherent limitations in the audit procedures described above and, the fijrther
removed non-compliance with laws and regulations is from the events and transactions reflected in the financial
statements, the less likely we would become aware of it. We did not identify any key audit matters relaling to
irregularities. including fraud. As in all our audÈts, we also addressed the risk of management override of internal
controls, including testing journals and evaluating whether there was evidence of bias by the direclors that
represented a risk of material misstatement due to fraud.
A further description of our responsibilities is available on the Financial Reporting Council's website at- https'.11
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditols report.
Use of our report
This report is made solely to the charity's trustees, a5 a body, in accordanoe with part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees
those matters we are required to state to them in an audilorfs report and for no other purpose. To the fullesl exient
permitted by law. we do not accept or assume responsibility to anyone other than the charity and the charity's
trustees as a body, for our audil work, for this report, or for the opinions we have formed.

STOCKFIELD COMMUNITY ASSOCIATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF STOCKFIELD COMMUNITY ASSOCIATION
Stuart Penfold (Senior Statutory Auditor)
for and on behalf of Haslehursts Limited
2E.Ic.ZJL
Chartered Accountants
Statutory Auditor
88 Hill Willage Road
Sutton Coldfield
West Midlands
England
B75 5BE

STOCKFIELD COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted Unrestricted
funds
funds
2023
Restricted
funds
2022
Totsl
2022
2022
Notes
Income from:
Donations and legacies
Charilable activilies
Investments
14,387
692,659
138,201
30,717
655,832
112,587
30,717
655,832
112,587
Total income
845,247
799,136
799,136
Expenditure on:
Charitable activities
607,040
728,851
728,851
Total expenditure
607,040
728,851
728,851
Nel gainsl(losses) on investments
12
180,378
{533,395)
1533.395)
Net incomel{expenditure}
418,585
(463,110)
{463.110}
Transfers be￿een funds
13,039
(13,039)
Net movement in funds
418,585
(450,071)
{13,039)
{463,110)
Reconciliation of funds:
Fund balances at 1 January 2023
4,698,574
5,148,645
13,039
5,161,684
Fund balances at 31 December 2023
5,117,159
4,698.574
4,698,574
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from conlinuing activities.

STOCKFIELD COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023
2023
2022
Notss
Fixed assets
Tangible assets
14
59,555
Current assets
Deblors
Investments
Cash at bank and in hand
16
17
244,785
4,777,579
316,946
235,149
4,414,975
157,608
5,339,310
4,807,732
Creditors: amounts falling due within
one year
18
(222,1511
(168,713)
Net current assets
5,117,159
4,639,019
Total assets less current liabilities
5,117,159
4,698,574
The funds of the charity
Unrestricted funds
19
5,117,159
4,698,574
5,117,159
4,698,574
The company is entitled to the exemption from the audit requirement contsined in section 477 of the Companies Act
2006, for the year ended 31 December 2023, although an audit has been caThied out under section 144 of the
Charities Act 2011.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
wilh 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 under the requirements
ofthe Companies Acl 2006, for the year in question in accordance with section 476.
These financial stalements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
The financSal stalements were approved by ihe tru51ees on .
MrsAJ Millward
Trustee
Company registration number 02588109 (England and Wales)

STOCKFIELD COMMUNITY ASSOCIATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Notes
Cash flows from operating activities
Cash generated from operations
21
203,363
179,597
Investing activities
Purchase of investments
Investment income received
{182,226)
138,201
{313,273)
112,587
Net cash used in investing activities
(44,025)
(200,686)
Net cash used in financing activities
Net increasel{de¢rease) in cash and cash
equivalents
159,338
(21.089)
Cash and cash equivalents at beginning of year
157,608
178,697
Cash and cash equivalents at end of year
316.946
157,608
10

STOCKFIELD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policles
Charity information
stockfield Community Association is a private company limited by guarantee incorporated in England and
Wales. The registered office is New Media House, Davidson Road, Lichfield, WS14 9D2.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, Ihe
Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" I'FRS 102.) and the Charities SORP "Accounting and Reporting by Charities- Ststement 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)" (effeclive 1 January 2019). The
charily is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of Ihe chaiity. Monetsry
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost oonvenlion. The principal accounling
policies adopted are set out below.
1.2 Going concern
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 truslees
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds represent funds which are expendable at the discretion of the Trustees in the furtherance
ol the objectives of the charFty. Such funds may be held in order to finance both working and capital
investment.
Designated funds are charitable donations with the stipulation that they be used for a specific purpose.
Restricted funds represenl grants, donalions and legacies received which are allocated by the donor for
specific purposes.
1.4 Income
Income is recognised when the charity is legally entitled to it atter any performance condilions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in
relation to donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation.
Legacies are re¢ognised on receipt or othe￿iSe if the chariiy has been notified of an impending distribution,
the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as
contingent asset.
11

STOCKFIELD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
(Continued)
1.5 Expenditure
Expendilure is recognised once there is a legal or conslructive obligation to transfer economic benefit to a
third party, it is probable that a transfer of economic benefits will be required in settlement. and the 2mount of
the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are madè up of the total of dIr￿t costs and
shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single
actimty are allocated directty to that activity. Shared costs which conlribute to more than one activily and
support costs which are not attributable to a single activity are apportioned belmeen those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
deprecialion charges are allocated on the portion of the asset's use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any irnpairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Leasehold land and buildings
4Dk straighl line on cost
The gain or loss arising on the disposal of an asset is determined as the difference be￿een the sale proceeds
and the carying value of the asset, and is recognised in Ihe statement of financial activities.
1.7 Impaim)ent of fixed assets
At each reporting end date, the charity reviews the carrying amounts of ils tangible assels to determine
whether there is any indication that those assets ha'ie suffered an impaimienl loss. If any such indication
exists, Ihe recoverable amount of the asset is estimated in order to detemiine the extent of the impairment
loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalenls 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 liabililies.
1.9 Financial instruments
The charity has elected to apply the provisions of Seclion 11 'Basic Financial Instruments, and Section 12
'other Financial Instruments Issues, of FRS 102 to all of its financial instrument5.
Financial instruments are recognised in the ¢haritls balance sheet when the charily becomes party to the
contraclual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statement5, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
Baslc financial assets
Basic financial assets, which indude debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequenlly carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing Iransa¢tion, where the transaclion is
measured at Ihe present value of Ihe future receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
12-

STOCKFIELD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policles
Icontinued)
Basic financlal liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debl instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilrties 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 Se￿iceS that have been acquired in Ihe 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 al amortised cost using the effective inlerest melhod.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligalions expire or are discharged or
cancelled.
Critical accounting estimates and judgements
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 Dn historical experience and other factors that
are considered to be relevant. Actual results rnay differ from Ihese estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the eslimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affecls both currenl and future
periods.
Depreciation and residual value5
The Trustees have reviewed the asset lives and associated residual values of all fixed asset calculations and
has concluded that assel lives and residual values are appropriate.
Income from donations and legacies
Unrestrlcted
funds
2023
Unrestricted
funds
2022
Donations and gifts
14,387
30,717
13-

STOCKFIELD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from charitable activities
Unrestrlcted
funds
2023
Unrestricted
funds
2022
Social Housing Rents
Social housing rents receivable
Performance related grants
other income
622,789
69,141
729
597,051
58,781
692,659
655,832
Income from investments
Unrestricted Unrestricted
funds
funds
2023
2022
Interest and dividends receivable
138,201
112,587
14-

STOCKFIELD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Expenditu￿ on charitsble activities
Provision of Provision of
services
services
2023
2022
Direct costs
Depreciation and impairment
Management and maintenance
Major repairs
Disability adaptalions
Insuran
Ground rent
Donations
Investment fvnd fees
Support to youth adivilies
Resource centre
Events
Granl expenditure
Consultancy services
Downsizing incentive
59,555
158,790
97,319
239,124
182,947
67,556
9.602
13.724
300
1,440
34,943
14,423
18,464
300
1,050
34,348
31,135
il
12,430
26,261
69,141
32,744
8,029
19,378
58,341
21,720
1,500
541,537
673,027
Share of support and governance costs (see note 8)
Govemance
65,503
55,824
607,040
728,851
Analysis by fund
Unrestricted funds
607,040
728,851
Support costs allocated to activities
2023
2022
Governance costs
65.503
55,824
Analysed beiween:
Provision of services
65,503
55,824
15-

STOCKFIELD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Support costs allocated to activities
(Continued)
2023
2022
Governance costs comprise:
Audit fees
Legal and professional
Insuiance
Bank charges
Administration services
Financial seNices
16,064
4,764
3,101
654
120
27,646
19,539
120
28.362
20,957
65,503
55,824
Net movement in funds
2023
2022
The net movement in funds is stated after chargingl(crediting)'.
Fees payable for the audit of the Charity's financial slatements
Depreciation of owned langible fixed assets
16,064
59,555
4,764
239,124
10 Trustees
None of the Irustees (or any persons connected with them) received any remuneration or benefits from the
charity during the year.
11 Employees
The average monthly number of employees during Ihe year was=
2023
Number
2022
Number
Total
There were no employees whose annual remuneration was more than £60,000.
12 Galns and losses on Investments
Unrestricted Unrestrictsd
funds
funds
2023
2022
Gainsl(losses) arising on=
Revaluation of investments
180,378
{533,395)
13 Taxatlon
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
16-

STOCKFIELD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
14 Tangible fixed assets
Leas&hold
land and
buildings
Cost
At 1 January 2023
5,986,492
At 31 December 2023
5,986,492
Depreciation and impairment
At 1 January 2023
Depreciation tharged in the year
5,926,937
59,555
At 31 December 2023
5,986,492
Carrying amount
At 31 December 2022
59,555
The leasehold properties have an insured value of £18,879,000.
15 Financial instruments
2023
2022
Carrying amount of financial assets
Inslruments measured at fair value Ihrough profit or loss
4,777,579
4,414,975
16 Debtors
2023
2022
Amounts falling due within one year:
Trade debtors
Amounts owed by fellow group undertakings
Prepayments and aG¢rued income
197,143
12,624
35,018
170,583
29,737
34,829
244,785
235,149
17 Current asset investments
2023
2022
Unlisted investments
4,777,579
4,414,975
17-

STOCKFIELD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
18 Creditors: amounts falling due within one year
2023
2022
Accruals and deferred income
222,151
168.713
19 Unrestricted funds
The unrestricted funds of the chariiy comprise the unexpended balances of donations and granls which are
not subject to specific conditions by donors and granlors as to how they may be used. These include
designated funds which have been set aside out of unreslricted funds by the Irustees for specific purposes.
At 1 January
2023
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At31
December
2023
General
reserves
Major repairs
sinking fund
Unrealised
gains
Cyclical
maintenance
Disability
adaptations
Community
facility
1,083.960
845,247
(607,0401
(238,207)
1,083,960
3,066,975
208,207
3,275,182
255,350
180,378
435,728
227.289
30.000
257,289
15,000
15,000
50,000
50,000
4,698,574
845,247
(607,040)
180,378
5,117,159
Previous year:
At 1 January
2022
Incoming Resources
resources
expended
Transfers
Gains and
losses
At31
December
2022
General funds
5,148,645
799,136
(728,851 }
13,039
(533.395)
4.698,574
20 Related party transactions
Transactions with related parties
During the year the charity entered into the following transactions with related parties..
During the year the company received donations of £14,387 {2022 - £30,717) from its subsidiary undertaking,
Stockfield Communily Association {Subsidiary) Limited. At the year end, the charity was owed £12,624 (2022 -
£29,737) from its subsidiary undertaking.
18

STOCKFIELD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
20 Relatsd party transactions
Icontinued)
Birmingham City Council has the right to appoint 2 Directors and has provided norFrepayable grants of
£3,584,774. Bromford Housing Group also has the right to appoint 2 Directors.
During the year, Bromford Housing Group, acting as agents, paid rents to the company amounting to
£622,789 (2022 £597,051) and received management charges of £56,304 (2022 - £55,881) from the
company. At 31 December 2023, £166,162 12022 - £155,325) was due lo the company from Bromford
Housing Group.
21 Cash generated from operations
2023
2022
Surplusl{deficÈt) for the year
418,585
(463,110)
Adjuslmenls for..
Investmenl income recognised in statement of financial activities
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
(138,201)
{180,378)
59,555
(112,587)
533,395
239,124
Movements in working capital=
(Increase) in debtors
Increase in credilors
(9,636)
53,438
(82,3931
65.168
Cash generated from operations
203,363
179,597
22 Analysis of changes in net funds
The charily had no material debt during the year.
19-