Charity resistrdtion nurnber.. 1012242 Colne Valley Youth and Community Association Annual Report and Financial Statements for the Year Ended 31 March 2022 Colne Valley Youth and Community Asso¢i8tioD Contents {eontfftnued) Reference and Administrdtive Detsi15 Tn￿te¢s. Report 2co5 Statement of Tn￿Ttes, Responsibilities Independent Auditors, Report 71010 Staiem¢nt of Financial Activities Balance Sheet 12 Not¢s to th¢ Financial Statements 131023 Colne Valley Youth and Community Association Reference and Administraifive Detalls Trusiees Bernie Banks EaDJonn Doherty Neil CrO￿er Karen S￿￿8g&S8a1e Jenny VickeTS Hel￿ HiggiLs David Gilbert Ch8rlty Reglstr*tlott Number 1012242 Prlnclpal Offite Dews Lane HarefL¢ld Middl¢s¢x UB9 6JN Audltor SieTlin8 Grove Accountants Limi*d Chartered Cenified Accountants and Register￿ Auditor8 Fawley House 2 Re8atts Pla¢¢ Marlow Road Bourn¢ Ind Buckinghamthire SL8 STD BAnkers CAF Bank Limited 25 Kin85 Hill Avenue Kings Hill Wesl Mallin8 Kent ME194JQ Page I Colne Valley Youth and Community Association Trustees, Report The tnjsttts p￿sent the annual report together with thc fu￿nCl31 statements and audiio]¥' re￿>rt of the charity for the year ended 31 March 2022. The flnaneial sthtements have been prepared in accordance with the accountsng policies set ollt in notes to the accounrs and comply with ihe charity's governing do¢ument. the Charities Act 701 l and Ac¢ounting and Reporting by ChaTili¢s.'S¢atement of Recommend¢d Pn¢ti¢e applicable to chariiies preparing their accounts in a¢coTdance with the Financial Rew)rting Stsndard applicabl¢ in Ihe UK artd Republic of Ireland published on 16 July 2014. Trustees and offl¢ers The Iruslees Jnd officers sming during the year and SifKe the yeaT end were as follows.. TruS￿¢S.. Bernie Banks Eamonn Doherty Neil Crowther Ka￿￿ Smasgasgalc J¢nny Vickers Ilcnry Hi88ins David GIl￿rt ObJrctlves and Ietlvltl Objecls ondt¥im$ Colonc Valley Youth & Community AS￿lation. knowryj as Hlllingdon Outdwr Activilic5 Ceiitrc I'HOAC'I is registered Youth Educational Chjriry providing ouidoor and enyironmcntal ¢ducation for the whole community bul wilh priority given io young people and those are disadvaniaged or disabled. Outdoor cducation in¢ludes a wide vathge of water and land aciiviiies. I￿luded are sailing. canoeing. windsurfing, rafting. dragon boaiing. bell boalin8. Towing. team building and leadership challenges. archery, Caving. climbing. high and low rope5. Objecilves. slrAltgies and4cliviii¢s The site is currcntly closed due to the HS2 railwdy activitits and we are at preseni awaitillg reloca(ion. FIOAC doe5 not make grants. HOAC does not hayc investments. blthollgh inierem is earned on bank accounts, which is used to betlcr the ¢harity's aims. Public bertefii From October 2020 the site was closed thi¢ to HS2 railw¥y activity and we arc at prcs¢nt awaiting relocation to a new. 51te. The tru5t¢es confinn thai they have complied with the requirements of section 17 of the Chariiies Act 2011 to have duc rcgard io the public benefil guidance published by the Chariiy Commission for England and Wales. Use of woltshiéers Not applicable at pre5ellt due to site closure. Page 2 Colne Valley Youth and Communlty Assoclation Trustees, Report (¢ontinued) Flnancial review Overall incom¢ for 2021-2022 was £145,841 reduced frorn 202￿2021 which wJ$ £436,548. Toial expendifure for ?O?1-2022 was £258.18? reduced from ?O?O-?O?I which was £509.045. Capital expenditure for 2021-202? was £6.246 . li had previously been decided by the trustees that there would b¢ no r¢ncwal of unnecessary irnmoveable capitkl abS¢ts until after the move ts) the Trew sil¢. Polity reserves Substantial Cash reserves have been buili up over the last fcw years and are being held to allow for investmcnt in Ihc new Slie lexaci locaLiOn and extent to be deterniined) and ro cover any shortfall of operational income ac this new siie for Ihe first two or three y¢ars. HS2 oow has full gov¢rnm¢n¢ opproval resuliing in HOAC being unable io remAin at it5 PTeseni location. The site has now been closed. Plans for future p¢rlods Alms 4ndkty obJecliv¢sforf¥tMreperfods The High Speed Rail proje¢i HS2 is due through the middle of HOAC'S builditi8s with a viaduct over the lak¢. Th¢ old sile is now closed aDd we are awailing rel0￿110￿ Structure. governlttct #tsd m8n*gern¢Dt Recruiimen¢ andippointhieni oftru51ee5 In the firsi insianie, the need for a new Trustee i$ id¢niifi¢d by the Curreni Trusiees in consultation with the Prinripul. This 15 nornjally in response lo som¢on¢ wishin¥ to resi8n. mvin8 oul of the area etc. Sometimes it may be that som¢one with paNi¢ul#r qtsalitics thal are identified ￿ needed will be acliv¢ly reiruiied ab long a$ Ihe numlxr of Trnsiees stay5 Wlthin the proscribed limit. Nonnally at this stage ihere are onc or D¥0 wple who have expressed Énterest in b¢ing Trustees and their suiiabili¢y is discusscd aThd a candidate a8re¢d. The Chair of Trustees will then approach the candidaie, and if they are agreeable. thetr narn¢ 15 givcn to the TnLSt¢e solicitor for a Deed of variation to be rniscd. ChLYks ar¢ then mode on their background (bankruptcy. criminal ¢onviction5 etc.) IndMc¢ion and trAiTring oftrustees Th¢ Principal intr(xlue¢s the new Tn￿1¢¢ lo th¢ Centre. tis struciure and the way it is rnanag￿. The Chair of Trusiees ensure5 that ihc Thcw Trusttt h&$ rel¢vani documents dethiling HOAC management proccdures. The new TnLStee is intr￿1￿(¢d at the next suitsble Tn￿ltt meeting but d0¢5 not b¢wme a TTusiee Linlil the r¢sult5 Of the che¢ks are in and ihc lesal processes hav¢ been ¢ompl¢ied. Induciiort take5 the fornj of a meeting with the treasurer and chaitman who txplain TC5pon5ibilitie5 and how HOAC worL%. A Staff Resou￿¢ Manual conthinKng Hulth & Safety and all other relevani polici¢$ is provid¢d. Orgqnisationalstructsre The Charity's organi5ational structure is laid out in the Trust Deed and the annual report. There are seven tntstees. In addition, five General Committee membeTS are elecied at an AGM from fricnds of HOAC. Thcr¢ are 6 full.iime members of staff along with a number of seasonal and part-iime stsff employed during the season. The Trustees and Principal meel regularly to make f￿￿￿tial and 5trate8ic ￿lIcY dceisions. The General Committee meet to discuss mainly matters &sso¢iated with mettthet5 a￿j usCt& The Principal makes all operational de¢isions based on the agreed strategie5. Page 3 Colne Valley Youth and Community Assoeiation Tru51ee5' Report (continued) Major risks ofthose n$ks Fiiianciol I￿S01￿e￿¢V Poli¢i¢s and strategies to retain agreed strat¢gi¢ reserves. regular meetings to review finan¢esl balances. T￿nthlY inLotne and expenditure figures provided to the TTUStces. appointment of a Tnjsiee treasuter aud Principal who monitor Centre perforniance, expeDdiiure and trends. audiied accounts. Bi￿l￿esS Failure.. possible caus¢s'. closure due to fool and mouth dise&s¢l blue green algae. very serious accideni. Manag¢meni'. mainiaining sutTJcienl fLnanci41 reserve$ io carry the Centre over: noi nmning overdraft5 or debt8, suiiable safe operatin8 PnKethues, qualified thff. Suitable itwrance cover. HOAC is li¢¢nsedlinspecied by the AALA. RYA knd Briiish Rowin8. All activitie5 ar¢ risk assessed attordin¥ to national criieria where appropriate (RYAIAALAI. The risks llre managed aLcoriJin¥ to laid down crileria from Naiional governing or as accreditcd by HOAC. Appropriatcly qualified $￿tT art uscd for all actLViti¢s. HOAC has public liability and third party insurance cover for 10 million pourhd5. Objeclive5 andpolicies The charity's ?¢tiviti¢s expose li io a number of flnancial risks I￿l￿dIng credit risk, cash flow risk and liquidity risk. C&ThJlow risk Interest bearin8 assets and liabilities are held ai fixed raie to etL%ure eertainty of ¢&sh flows. Credii rfsk The charity's principal fjnancial assets 8Te bank bal8nccs and wh, trade and other receivables, 2nd ini'cstmcnts. The ¢harity'¥ credit risk is primarily attributable to 115 trddc rc¢civabl¢s. Th¢ 8mc>unt$ piescnicd in the balancc sbeei are net of allowances for doubifial T￿¢IN'ab]eS. An allowance for irnpairmenl is made where there is an identified Ios5 event Whic￿ based on pr¢vi¢)us experience, is evidence olrd reduction in the r￿0Verabl11ty of the cash flows. The ¢redit risk on liquid ￿ndS ar￿ derivative financial instwments is limi￿d be￿￿se the COunte￿artI¢5 ar¢ banks with high credii-ratings atsigned by inl¢rnatioAal crtdit-rdiing agen¢ies. The ¢haTity has no si8nifIcant concentration of eredit risk, with exp)sure $prcad over a large number of coullterpanie8 and ¢US￿meT$. Li¥iiidity risA D¢tails regarding liquidity risk be found in the Statement of a¢¢ouDting policies in the financial statements. Disclosure of Inftsrm4tlon to *uditor Each irusiee has taken steps thai they ought to haye tsken as a mLStee io order io make themselvc$ awarc of any relevant audit inforn)alion and to establish thai the Chari￿s auditor is aware of that infornuiion. The trustees confinn that there is no relevani infomiation thai they know of and of which they know the auditor is unaware. The annual report was approved by the trllsiees of the Clwiry on 10 NovetDber 2022 and stgn¢41 on its ￿half by.. Pa8e 4 Colne Valley Youth and Community Assoeiation Trnstee$' Report (continued) Karen Trust¢¢ ma8gasgal¢ Page 5 Colne Valley Youth and Community Association Statement of Trustees, Responsibilities The trust¢es are responsible for preparin8 the tntstees, report and financial siaiements rn accordance with the United Kingdorn A¢¢ouThting Stsndards (Unii¢d Kingdom Genernlly A¢r¢pied Accouniing PrdCti¢el and applicable law and re8u14tLOnS. The12w applicabl¢ to chanties requires the trustees to Ptepare financial statements for each finan¢ial year which 8ive a tnle and fair Vi￿. of the stale of affairs ofthe charity and of th¢ incoming resourees and application or resourtC5 of the chariiy for that p¢riod. In pieparin¥ these financial stsiements. the tntstees are required io.. select $uitabl¢ accountin8 policies and then apply them Consisiently: observe ihe mclhods ond prtncipl¢s in the Chariiies SORP- make judgements and esiimaies that are Teasonable and prudeni. state whether applieoble accounttng Sthndards have been followed. subj¢ci to any material departures di$¢losed and expluined in thc financial sthtements: at prepAre the financial ststements on the goin8 ¢oncern basis vnl¢ss it 1$ inappropriale to pr¢sume th8t the charity will conlinuc in business. The trusi¢es are resw)n.sible for keeping proper accowiiin8 rffords thai disclose with rejsonable accuracy ai any lime th¢ financial Position of the charity and enable them io cnsurc that the financial 5ratemenis comply with ihe Charitte5 Act 2011. the Choriiies IA¢counis and Reports) Regulations 21)08. ajkl the provisions of ihe consiitulion. The Irusiees are also Tesponsible for safeguarding the assets of the ¢harity and hence for laking reo50nabl¢ s¢ep5 for the preveniion ar￿ detection of fraud and oth¢r irre¥ulariiies. Thc tN5te¢s arc resEK)nsiblc for ihc maintenance and Èni¢8nty of the corpraie and fll)an¢ial infomiation includcd on th¢ charitable Company's WLb$iie. L¢gi51ation goN'¢rning the preparation and di5scminalion of rinanlial 5taiemenis may ditycr from legislalioD in other jurisdiciion& Approva by the trustees of the ehariiy on 10 November 2022 and si8n¢d on its behthlf by.. Karen Trustee maggasgale Page 6 Colne Valley Youth and Community Assoclallon Independent Auditor's Report to the Members of Colne Valley Youth and Community Asso¢i4tion Opinion We have audited the fth2n¢ial S￿*Ments of Colne Valley Youth and COMM￿]ry A$sociaiioTk (Ihe'charity,) for thc year ended 31 March 2022. which comprise the Sthiement ()f Financial Activities. Balance Sheet. and Notes to the F'inancial StOtem¢nts, iniludjng a suynJnary of Slgnificani accounting rM)licies. The financial reporting fram¢work that has been Applied in their preparation is Uni*d Kingdom Accounting Standards. ¢omprising Chariiies SORP- FRS 10? Thc Financial Rewkrting Standard applicable in th¢ UK and Republic of Ireland, and applicabl¢ law (Uniied Kingdom Generally Acc¢pt¢d Accounting Pr￿littl. In our opinion the finaneial ststemenis- give a true and fair vi¢w of the state of the ¢I￿lty,5 affJirs as at 31 Mar¢h 2022 and of its incoming resources and 8pplicaiion of resources. incl￿j1￿g lis income and expendiDJre. for the year Ihen ¢nd¢d- have been properly prepared in accordattce with United Kingdom Generally Accepted Ac¢ouniing Practice; have bcen prepared in ateordance with the Twuirements of the Charilies Acl 2011. B#$ls for oplnlon We conducied our audit in accordance with Inlenwlional Sthndards on Auditing (UK) {ISA5 IUKII and appliLable law. Our r¢sw)nsibiliii¢$ under ih05e sthndards are further d¢sCri￿.d in ih¢ audiior responsibilities for the audit of Ihe financial siatements section of our report. We are ind¢pendent of the clwity irt accordanc¢ with the cthical requirements Ihal are relevani io our audii of the financial slalernents in the UK. including th¢ FRC'S Ethical Standard, and we have fiiifilled our other ethical r¢sponsibiliiies in o¢¢ordan¢e with these requirements. We bclievc that th¢ audit CVId￿¢¢ w¢ have ob¢ain¢d is sufficient and appropria￿ to pro&id¢ a basis lor our opinion. Contlusions relAting to Eolng co•¢tr In auditing the financial slaiements, we have concluded thai ihe trusttts Use of the 8oin8 concern basis of ac¢ounting in the preparation of the flnancial statcrnents is appTr)priate. Based on the work we have perfornirf we knve Aol identifjed any material uncertainties relaiing to evenrs or onditlons that. individually or collectively, may e&si $ignifi¢¥n¢ doubt oll the charity's ability to continue a5 a going concern for a p¢iiod of at leas¢ ￿¢1¥¢ n￿)llths from when the 0ri8inal financial stsiements were authorised for issue. Our r¢sponsibiliiies and the responsibilities of the trustees with re5pwI lo gotng ¢oncem aTe described in ihe relevatlt sections of thi8 report. Other lttfortnatlon Thc tnLStees are responsible for the other infomution. Th¢ other iTbfotThalion COTnpriscs the inforniaiion included in thc annual rcport, other than th¢ financial stsiements and our auditor's report thereon. Our opinion on the financial statemetjts does TJOI cover the other infortnation and. except to th¢ extent othcNise explicitly statcd iii our report, we do TK)t ¢xpress any forn) of assurance conclusion thereon. In corujection with our audit of the fiDan¢ial ststements, our responsibility is to rtad the other inf¢)rnuiion an¢L in doing so, Consider whether th¢ other Infor￿allon is materially incorsistenl with the financial statements or our knowledge obtained in ihc audit or otherwise ap￿arS to be maierially mi55takd. If we identify 5ueh marerial incon5isieneies or appar¢nt maieTio1 miss¢a¢ctncnl4 we are required to deterniine whether there is a material mis$tat¢m¢nt in the flnancial statements or a malcrial misstaiemcni of the other Inftsrniation. If, based on the work we have performcd. we c¢)nclude that ther¢ is a mat¢tial misstatemeut of this other Infom￿tio[L we are required lo repon ihai faci. W¢ have nothing tts reFKJrt in thi5 re8ard. Page 7 Colne Valley Youth and Community Assotigtion Independent Auditor's Report to the Members of Colne V911ey Youth and Community Association (continued) Motlers on w'hlch we 8re reqllired to report by exctpdon In thc ligh¢ of our knowledgc and undcrsthnding orth¢ charity and its environment obthin¢d in the cou￿¢ of the audit, we have not identified materiol missthiements in the Trullees, Report. W¢ hav¢ nothin8 lo repon ill respect of the following D]atters where the Chariiies (Accounts and Report) Rcgulation5 2008 requires us io report to you il. in our optnion.. adequate accounting re¢ords have not been kepQ or rciurns adequate for our audit have not been rcceived frotn branches noi visiied by us- or the financial stat¢ments ar¢ not in 48rcement with the ac¢owiiing records and returns: or certain dI￿10sUreS of trwiees remuneraiion specified by law not made: or we havc noi re¢eivcd all the inforn)alion and exp]anations w¢ requiTe for our audit. Responslbllldes of trnst¢e$ As e.xplained more fully ITr the Sialement of Tntstres. Resixjnsibilities (set oui on page 61. Ihe trustee% #re responsiblc for the preparation of ihe financial stsiements and for being saiisfied that ihey givc a irue and fair view. and for such inicrnal control as the In￿teeS drf¢rn)it)e is necessary to enable the pr¢paraiion of financial siatemcnts ihal Are frce from maieri41 missrgi¢ment, whether duc to fraud or error. In preparing ihc financial stal¢rn¢nts. the tTUSlttS are rcsp)ftsible for &ssessin8 th¢ charity's ability to continue as a going con¢¢rn. dis¢losing. as applicable. mattcr5 rclated to going concern and using the goin8 concern basis of a¥couniin¥ unless Ihe ttUStees ¢ith¢r intend io liquidaie ihc Charily or lo ¢e4w op¢ralions, or have nts rc)listic alternative but to do so. Audl¢or Responslbllltles for the sudtt orth¢ Iln2n¢l•l stitements Our objeciitreb are 10 obtain reawnablc assuran¢¢ aboui wh¢iher the financi￿ Stsicments ￿ a whole are free frotn material rnissiatemeni. whether diie io fra1￿ or error. and io issue an 8udiior's reEx)rt thai includes our opinion. Reasonable assurance 15 a high level of &8surance. bui is noi a guardnltt Ihat an audii conducrd in accordance with ISA$ IUKI will always ddeci a matsrial mi5Statemeni wh¢Th it exists. Mikstht¢ments can arise from fraud or error and are considered malerial if. individually or in the aggrcgate. they could reasonably bc expcrtcd to influence the economic decisions of users taken on the basts of these flnancial staiemenrs. The exient to which our prnccdurcs are capabl¢ of dctccting irYegulariiie4 in¢ludÈn8 frdud is dctailcd below.. Page 8 Colne Valley Youth and Community Association Independent Auditor's Report to the ￿￿eMberS of Colne Valley Youth 2nd Community Associalion (continued) Our approa¢h to identifying and assessing the risks of Ma￿rial misststement in respect of irregularities, includittg fraud and non-compliaD¢¢ with jaws and regulations. was as follows.. the cn8agcm¢nt panner enswed that the cn8a8ement team coll¢¢iively had the appropriate competence, capabilities and skills to identify or recognisc non4ompliance with applicable laws and r¢gulations,' we identified the laws and regulaiions applicable its the company through discussions ￿'1th director5 and otber management, and from our commercial knowledge and expenence of the enwronmental waste se¢tor' we focused on specific laws a[￿ regulaiions which we considered may have a direci maierial effect on the rLnatLcial slalernents or the operations of ihe cofflpaDy. iDcluding the Compani&s Act 2(M)6, tsxation legisla¢ion and data pro¢e¢tion, anii-bnbery. employment. envirnnmen￿I and health a￿1 saf¢ry legislation: - we a8se55ed the extent of eompliance with the and regulauons ideniified above through rnaking enquiries of rnanagemeni and inspeciing legal correspondencc: and ideniifi¢d laws and rcgulaiions werc communicaied within the audit regularly and the team rernained lert its irkstances of non-compliance throughtrjt the audi¢. We assessed the sus¢¢ptibiliry of the company's financial sthtrments io mhterial miss￿lemenL including obtainingv an underslandin8 of how fraud might by.. making enqiliries of manag¢meni as io wher¢ they considered there was suseeptibility to fraud, their knowled8¢ ofaciual, susperlcd and allc8ed fraud: and considcring the int¢rnal controls in place io mitL8alc risks of fraud and non-compliance with laws and r¢gulation8. To addTCSS rhe risk of fraud ihrough mana8emcnr bias and OV¢TTide of controls. we.. . perfomied analytxcal procedures to identify any unusual or tsnexpected relationship$- tested journal entries io ideniify unusual irat)sa¢iiotss.' a$s¢bsed wheiheT judgements and assumpiions ma(k in ddern)ining the aecountin8 estirnates 5¢t out in the accountin8 policies were indicative of potential bias: and investi8at¢d the rationale behind significant or unusual traAv¢lions. In rcsponse to th¢ risk of irrcgulariii¢$ and non&compliance with laws and regulations. we desi8ned procedures which included, but were not lirnitcd to.. - agreeing finan¢ial SL2t¢m¢ni disclosures to underlyitig SUP￿]ng documentation; reading Ihe minuies ofmLxlin¥s of those charJ4ed with governance: - cnquiring of managemenl as to a¢iual and pts*ntial litigation a[￿ clains: and - rcviewing Co￿t$pondence with HMRC, relevattt rc8ulators and the companys 1¢8al advisots. There are inherent limitations in our audit procedures described at*)ve. The more removed that laws and regulation5 are from (￿anCial transactions, th¢ less likely it is that we would bccorne awdre of nonurnL F.nd BIiLkin8hamshire SL8 STD Date.. Page 10 Colne Valley Youth and Community Association Statement of Finane121 Acllvities for the Year Ended 31 Mareh 2022 Total 2022 Unrestricted Restrlcted Note Income and EThdowmetsts fTOIII- Donation5 and lega¢i¢s Chariiable ociivilies Investment incorne 41.402 102.462 1,977 41,402 102.462 1.977 Total in¢omc 145.841 145,841 EXpe￿dIturt on: Charilable aciiviiies 1258.182) 258.1821 Toial expenditure 1258.182) {258.182 Net movement irt flln (112.341} (112,3411 ReconcllS*tlon offundy Total funds broughi fotward 895.587 240 895.827 Total funds Carried for¥wd 19 783.246 240 783,486 Total 2021 Unre$trltted Rtstrleted Note Income #lld Endowmetsts from: Donaiions and legacies Charitable activities Investment income Othcr income 212.571 196.374 24.410 236.981 196.374 2.072 2.072 Total incom¢ 412.138 24.410 436.548 Expenditure on". Charit&ble actlviiies 509,0451 509.045 Total expenditure 509.04S) 509.0451 Net (eXpendin￿e}I1ncorne Gross iransfers between funds {96,9071 24.170 24.410 124,1701 172.4971 Net movemcnt in fun (72.737) 240 {72,4971 RecoD¢iiiatlon of funds Total funds brought forwdrd Total funds carried fonvard 968,324 968.324 19 89.S.587 240 895,827 All of the clwity's activities deriye fro￿ Continuing operations during th¢ above two financial year The notes on pages 13 to 23 forni an integrdl part of financial s¢xtcments. Page 11 Colne Valley Youth and Community Association (Registration number: 1012242) Balance Sheet as at 31 Mgrch 2022 2022 21121 liote Flxed #s$et5 Tangible assets 86,277 119,081 Current 9ssets Stocks Debtors Cash at bank and in haTMI 14 15 16 35 8,153 713.51? 67,906 735,161 7)1.665 803.102 CTedlton: Amounts f*lllng due wlthln one year Net currtrtt a55et5 17 124,4561 126,3561 697,209 776,746 r4¢t assets 783.486 895.R27 Funds of the charlty: Resirlcted income ResifiLL¢d funds. 240 240 Unre8trleted ineome funds Unrestricted fvn(L% 783.246 895,587 Total fund$ 19 783.486 895.8?7 The financi81 5tat¢menis on pages 11 10 23 wer¢ ¥pproved by the tsystees. and authorised for issue on 10 NovLmb¢r 2022 and 5Lgned on their b¢half by: Karen Smag8asgale Trustee The notes on pa8tt 13 to 23 fom) an illte8ral part of these rtnancial ststements. Page 12 Coln¢ Valley Youth and Community Asso¢iatlon Note$ to the Flnancial Statements for the Year Ended 31 March 2022 l Accounting policits Stxtement of compliance The fjnallcial statements have been prepared in accordance with Accounting and Reporting by Chariti¢s-. Siatemenl of Re¢ommended Practice applicable io Chariiies preparing iheir accounts in accordance wilh the Finan¢ial Reptsrtin8 Siandard applicabl¢ in the UK and Republic of Ireland IFRS 102) (effective l J&nu8ry 20151- (Charities SORP IFRS 10211. the Financial Reporting Sthndaid applicable in the UK and Republic of Ireland {FRS 102} and the Chariiies Act ?01 l. The accounts IfinancÈal sthtemeni$l have becn prepared to give a 'true arml fair. view alld have depaned from the Charities (A¢¢ounis and ReN)rtsl Regulations 2008 only io the extenl requir¢d 10 provide a 'iTUC arbd fair view.. This departure has involv¢d following Accounting and R￿orning by Chariiies Preparing iheir a¢¢ounts in aLLordance with the Financial Reporting Standard applicable ith the UK Republic of Ireland IFRS 102) issii¢d on 16 July 2014 rather than th¢ A¢coun¢in8 and Rewrting by Chariii¢s-. Sthtement of Recommend¢d PrACtice effe¢tiv¢ from l April 21J05 which has si￿¢ been withthawn B4$1$ of prtpirltlon Colne Valley Yotsth and Community Association meets Ihe deflnition of • publi¢ benefil entity under FRS 102. The #ccounts (financial sthiemenisl have been prepared under the historical ¢os¢ convention with items r¢¢ognised ai cosi or tr￿sactiOn valu¢ un1¢5$ otheNis¢ sraioj irt the relevant notels) to ih¢s¢ ac¢ouni$. Golng coneern The iruslees consider that there are no material urK¢rtainlies aboui the ¢hartiy's abilily to continue &8 a going con¢em. In¢ome #nd endowtnents Voluntary income including donations, gifts, legacies and grants that providc cor¢ funding or ar¢ of a general nature is r¢¢ognised when the chwity has rntitlcment to the in¢om< li is probable that thc incotnc will bc re¢eived and the amount can be mvdswed with sufficieni reliability. Grants re¢eiv4ble Grnnts are recognised when the charity an enlitlemen¢ to the funds and any conditions linkcd to the grdnts have been met. Where p¢rforn]an¢e condiiions are attached to the grdnl and are yet lo be met, th¢ income is recognised as a liabiliiy and included on the balance sheet &8 deferred income to be released. Deferr*dincome Dcferred income represents amounts re￿IVed for ￿lUte periots and is rele&4ed to inc¢)rning r¢50uwes in ihe Period for whi¢h, li has been received. Investment iftcome Interest is recognis¢d on an a¢¢n￿lS basis and included ID the peri￿ in which it relaies to. Page 13 Colne Valley Yomtb and Community Association ,Yotes to the Fin4nclal Statements for the Year Ended 31 March 2022 (continued) Expenditure All expenditur¢ is recognised once there 15 a legal or COnStsUCiive obligation to that expendittwe. it is probable settlement is required and the amouni ¢an be measured reliably. All ¢osts are allocated to the applicable expenditure hcadin¥ that aggregaie similar costs lo that ¢aiegory. Where costs cannot be direcil) attTibuted particular headin￿ they havc bccn allocat¢d on o basis consisteni with the ￿$¢ of r¢50urces. wilh centfdl std ¢osis alloLai¢d on the b&sis of time spcni. and depreciation ¢haiges allocaicd on the portion of the a5sel's use. Other support ¢osts ore allocaied based on the sprud of sthff eosts. Charil&ble 4eiivides Charitabl¢ expenditure cornpri5es ihose costs incurred by th¢ Chanry in ihe delivery of its activiries and services for its beneficiaries. It in¢lud¢s boih costs thai can be allocaicd directly to such aciiviiics and those costs of an indirect natur¢ necessary io support th¢m. Governan¢e costs Tlic.%c ineliide ihc costs Iitlributhble lo the charity's compliance with ¢onsiilutional and stalulory requirements. including Audit. strntegic mhnagemeni and truskes meetings and reimbursed cxpenscs. Government ttnd loeal authorlty GtsvcTnment grants are rLYognis¢d based Oll the aecrual model and are measured at the fair value of th¢ asset received or rc¢¢ivable. Granis are classified as relating ¢ithcr io revenue or to assets. Granr5 rclaling to revenue ar¢ recognised in incom¢ over the period in which the related costs are r¢co8nis¢d. Grants relaling to assets are recogni5ed over th¢ expected use￿] life of the akset. Wh¢r¢ pan of a grant relating ￿ an assel is deferred, il is recognis¢d as deferred income. Taxation The charity is considered ¢0 pass Ihc tL￿ts sct out in Paragraph I Schcdule 6 of ihe Fin&n¢e A¢t 2010 and th¢Tefor¢ it meeis Ihc definilion of a charitsble company for UK eorporJtion tax PUTF¥)ses. Accordingly, tlic cliaiily 15 Potentially cxempt from thxaiion in rc5pecl of incom¢ or ¢apitsl gains reccivcd within categories covered by Chapier 3 Part I l of the Corpordtion Tax Aci 2010 or Scclion 256 01 t]iL Taxdiion of Chargeable CNoin$ Acl 1992. 10 Ihc extcnl that such in¢ome or 84ins are applicd exclusively io ¢hari¢able PUTPOSCS. Tanglble fixed #syets Individual fixed as5els c05tin8 £250.00 or n￿re are inilially rwOrd￿ at cosi less any sub5¢qucnt accumulated depreciation and sub$equ¢nt ac¢umulaied impaimient Iosscs. Depreclatlon And amortisatio Depreciaiion is provided on tangible fixed assets so as to Mrite off the c05t or valuation, less any estimated residual value. over their expected useful econornic life as follo￿.$= Asset clajs Diii8hies Canou, Engines, OffLCe equipment Windsurfers. Private ProtectiL)n Equipment Other craft Ponti)ons & slipways Depreeiafion method And rate 6 yea[5 Stiaighi line basis 4 years straighL line basi$ 3 ycars strnight line basis Up 10 7 years straight line basis 15 yeats Straight line b&sis Page 14 Colne Valley Youth and Community Association Notes to the Financial Statements for the Year Ended 31 Mydreh 2022 {eontiDued) Land-based equiprnent & Kartin8 Up to 8 years strai8bt line b&si$ Leasehold improv¢m¢nt$, Climbing wall and caving system & Other Up to S years siraighi line W¢bsiie 2 years $trdight line basis Depreciation of non-move2bl¢ ¢apital i*ms have been writteD to a net value of zero by the end of March 2019. Stotk Thi5 L5 for th¢ goods for the vending m&chines hcld at th¢ year end. li is valued at the lower of cost and nef realis8ble value. Tr*de debt•rs Trade debtors are amounts due from cusiomets for merchandise sold or services perfomied in the ordinary course of bwiness. Trade debtors 4L¥¢ Tecognised inilially it the trwjsaclion pric¢. They are $ubsequently measured al amortised co$1 using lh¢ effective interest rneth￿. I¢ss Provision for impairrnent. A provision for rh¢ impairmeni of is estsblished wh¢n ih¢re is objeciive evidence that the charity will noi be able to collec( all amounts due aLLording lo the original tertn5 of the r¢ceivables. Cash And eash equlvilents Cash and cash cquivalcnts comprise cash on hand 8nd call deposils, #nd other short-term hi8hly liquid irtVC5tments that ar¢ readily convcfliblc to a amounl of cash and are subJ¢ct lo an insignifi¢anl risk of ¢hong¢ in v8lue. Tr4de eredltors Trade ¢redLitsrs are obli8ation5 lo pay for So¢￿3 or services tha¢ bave been acquired in the ordinary course of business frorn 5upplier5. Accounts payable are ¢lwified as current liabilities if ihe Charity does not hav¢ 8n Ilnconditional right, at the end of the reportin8 periimj. to defer seiilement of ihe creditor for 01 least Iwelve month5 after ihe reportins date. If ihere is an uncondiLLOt)al right to defei Settlement for at least twelve month5 after the reportin8 dat¢. they are Presenied as nonthcutrent liabilitiu. Trade creditors are re¢ognised initially ai the transathion priee. Fund structure Unresthct¢d incoinc fun&s are general ￿ndS thal are available for use at the trustett discreiion in furtheran¢e of the objectives of th¢ charity. Resthcted income funds are those donaied for use in a particular are4 OT for $pecifi¢ purposes, the use of which j5 restricted io thal area or purpose. Pensions and other ptsst retirernent obligations The chaTily 0￿rat¢S a defined contribution pension scheme which is a pension under which a fixed contributions are paid into a pension f￿￿. Contributiolls to def]ned contribution plans aTe r¢cognis¢d in the SOFA when they art due. Page IS Colne Valley Youth and Communlty Association Notes to the Flnanelal Statements for the Year Ended 31 .Mareh 2022 {eontinued) 2 Income from donations aod legaci Unrestricted funds Gen¢r#l TotAI 2022 Total 2021 Granis, including capiial grants; Local boTOU8h gratbts Gov¢mrnent grarhts Othcr gr￿1$ 54.5(K) 158.071 24,410 41,402 41.402 41.402 41.402 236.981 3 Income from eharl¢able x¢tlYltles UDr¢strftted futsd5 Gener41 Tot81 21112 TtsiAI 2021 Membershtp Day ni¢mber5 & hiring Courses & training Holiday Group aetLVity Other 17,763 10,660 76,813 30.914 44.093 102,462 102,462 102,462 102.462 196.374 Unr¢$triet¢d fund$ General Total fundi Oiher 102.462 102,462 Total for 2022 102.462 102.462 Total for 2021 196,374 196,374 4 Investtll¢nt llltotne UDre5trieted funds General Trjtil 2022 Total 2021 Intciest receivable and similar in¢orne' Interest receivable on bank dcTX>Sit$ 1.977 1.977 Page 16 Colne Valley Youth anql Community Association Notes to the Financial Statemenls for the Year Ended 31 March 2022 (continued) 5 Other iDcDrne Total 2022 Tot81 2021 Equipment sales Vending machine income 1,960 112 2.072 Page 17 Colne Valley Youth and Community Assoeiation Notes to the Financial Statements for the Year Ended 31 March 2022 (eontluued) 6 Expenditure charitabl¢ *ctiiities Unreslri¢ted fund5 General Total 2022 Total 2021 Note Establishment costs Repairs and main*nan¢e OfficL exp¢ns¢s Printing, p)stage stationary Subscription and donaiions Equipm¢nt hire Sundry and other cosis Advertising and other pronTh)tions Vendin8 ¢osI$ D¢prcciaiion. amortisalion and other similar costs Staff LUSIS Governance costs 4.789 ,938 14.033 1.459 1.494 1.()05 4.533 4.789 1.938 14.033 1,459 1.494 1,605 4.553 10.372 9,700 13.875 942 4.547 2,461 1.683 866 2.136 39,230 180.834 8.247 39,230 180.834 8,247 55.639 397.153 9,671 ?58.182 2511.182 509,045 7 An#lyJis ofgoverDanc¢ attd 511PPOrt CgSt5 GoverttAnce costs Unrestrlcted funds eral T•tal fund5 Audit fees Audii of the flnancial sthiements Othrr governance costs TotAI for 2022 8,078 169 8.078 169 8.247 8,247 Total for 2112] 9.671 9.671 Page 18 Colne Valley Youth and Community Association Notes to the Financial Statements for the Year Ended 31 March 2022 (continued) 8 Net in¢omiNgloutgoing reS0￿ree Net outgoing resources for the year include= 21122 2021 Audit fees Deprecialion of fixed ￿ets 8.078 39.230 6,420 55.639 9 Tru$ttt$ remuntrarfon eipenvs No Iru5tee5. nor any persons cotmected with them. h8v¢ received any remuneration frorn the chariry during the year. All tnJste¢s receive complimentary rn¢mbership of the Ccntre from the charity during the year. All tnjstees received eomplimenlary membership of the Centre durin8 the year. 10 Staff e051s The a8sregat¢ payroll c051s were as followa.. 2022 2027 Staff eosts during th¢ y¢8r were: W4LbTes and salaries SoLial security cos¢S Pension costs 156,433 359.102 29.093 7.290 180.834 397.153 The monthly avera8e number of p¢rsons (including senior maM8cmcrtt tcaml employed by the charity during the year .' 21122 2021 No Charitable actLVLties- Full titne Employee5 Charitable aclivLties- Part lime Employees Chariiable activitics- Volunteers 21 34 6 {2021- 10) of th¢ above employees panicipakd in the Ikfin¢d Contribution P¢nsion Schemes. Contributions to the employ¢¢ F¢nsion schemes for the year totalled £7233 {2021- £8,958}. No employe¢ r¢¢eiv¢d emoluTn¢nts of more than £60.(M)O durÉn8 the year Pa8e 19 Colne Valley Youth and com￿u￿1ty Association Notes to the Finanelal Stxtements for the Year Ended 31 March 2022 {¢ontinued) l Auditors remun¢r9tiott 2022 2021 Audtt of the financial $th￿ments 8.078 6,420 12 T#xAtion The charity is a re8l$tered charity and is ihereforc exempt from ￿xatiOn. 13 T4llglble flx¢d Ass¢¢$ Furttlture and equlpnwnt TotAI Cost At l April 2021 Addiiions 1,549,133 6.426 .549.133 6.426 At 31 March 2022 1.555.559 1.555.559 Depreciation Al l April ?O?I Charge for the year 1,430.052 39.230 1.430.052 39.230 At 31 March 20?2 1.469,282 1,469.282 Net book wlllue At 31 March 2022 86.277 86,277 At 31 March 2021 119.Q81 119,081 14 Stoek 2022 2021 Stocks 35 IS Debtors 2022 2021 Prepayments Other debtor5 6,992 1.161 23.489 44.417 8,153 67.906 Page 20 Colne Valley Youth and Community Association Notes to the Flnaneial Statements for the Year Ended 31 March 2022 (continued) 16 Cash #nd cash equivalen¢$ 2022 2021 Cash at bat Shon-iem deposi 13,471 700,041 26.466 708.695 713.512 735,161 17 Creditors.. amounts f4Ulng due wlthitt OD¢ year 2022 2021 Other iaxalion and social security her ¢rediiors ALLruals Deferred income 4.611 777 11.227 7.841 4,162 774 13.579 7.841 24.456 26,356 2021 Deferr¢d incom¢ ￿ l April 2021 Resourccs d¢f¢￿ed in the pertod Amounts released from previous peri(Mls Deferred in¢ome at year end 29,288 7.841 29 2881 7,841 18 PeniloD *nd Oiher schemes Defined eontrlbutlon penslon sehert Th¢ charity operates a dtfm¢d contribution pension s¢hem¢. The per￿10n ￿st char8¢ for the year represents contributions payabl¢ by the eharity 10 the s¢beme and amounted tt) £7,290 (2021- £8,958). Page21 Colnt Valley Youth and Community Association Iyotes to the Financial Statements for the Yegr Ended 31 March 2022 (cont5nued) 19 Fund5 Balance at I April 2021 lu¢omlllg Te50urcts Resources expended B•lanee •t 31 March 2022 Unrestrleted funds Gen¢rol 895.587 145,841 (258,1821 783.246 R¢5tri¢ted funds 240 240 Total funds 895,827 145.841 {258,1821 783,486 Bg1gD¢¢ Ilt 31 March 2021 Balgnce at I Aprll 2020 IDtoiiiiiiz reJour¢es Resourt tApended Tr*nsf¢rs Unres¢rlcted funds General 968.324 412.138 {509.0451 24.170 895.587 Rtstrlcttd furtds 24.410 {24,170) 240 Total funds 968.324 436.548 {509,0451 895,827 Th¢ spe¢ifiL purposes for whach the fur¥b are io be applied thre #s follows.. R YA Discover Sailin8 Grdnl- This Is resiricied for disabled satlin& when HOAC shui RYA SAid thcy could keep the money for when they reopen. This furtds ¢ontinue to be held. 20 ADaly$l8 ofnet funds At l Aprll 2021 Flninclng cash At 31 M#rch flo￿.5 2022 Cash at bank and in hand 735.161 21.649 713,512 Net debt 735.161 ¢lt l Aprll 21121 (21.649} Fln*Dcing cash 713,512 At 31 M&rch 2021 Cash at bank and in hatKI 859.785 {124.6241 735.161 Net debt 859,785 124,624 735.161 21 Related party trart$#¢tion5 Thete wcre no related patly IT4n5ar¢ion5 ir] th¢ year. Page 22 Colne Valley Youth and Community Assoeiatlon Notes to the Financial Statements for the Year Ended 31 Mgrrh 2022 (continued) 22 Analysis of net gssets between funds Unrestrifted Gentral 2021 Total fund$ 2021 Rutrlcted Tan8ible fixed &ssets Current assets Current liabilities 86.277 721,425 1?4.4561 86,277 721,665 124.4561 240 Toial net assets 783.246 240 783.486 Unre$lrlcted General 2020 Tot&l funds 2020 Restritted Tangible fixed ￿Se￿ Current assets Current liabiliiies 19.081 802.862 126.3561 119.081 803.102 26.356 240 Toial atsets 895.587 240 895,827 Page 23