REGISTERED CHARITY NUMBER: 1014710
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FOR
OVER COMMUNITY ASSOCIATION
Thompson Taraz Rand Audit and Assurance Limited
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA
OVER COMMUNITY ASSOCIATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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Report of the Trustees |
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to |
3 |
Independent Examiner's Report |
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4 |
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Statement of Financial Activities |
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5 |
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Balance Sheet |
6 |
to |
7 |
Notes to the Financial Statements |
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to |
12 |
Detailed Statement of Financial Activities |
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13 |
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OVER COMMUNITY ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31March2024.Thetrustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUK andRepublicof Ireland(FRS 102)
(effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
TheobjectivesofOverCommunityAssociation(OCA)istopromotethesocialwelfareof,andimprovetheconditionsfor, the
inhabitantsofOverandneighbouringvillages.InordertofurtherthisobjectivetheAssociationhasconstructedasports and
recreational centre.
The Association'saims are to promoteand providecultural,recreational,social and sportingservices and activitiesto the residents of
Overandtheneighbouringvillages.Thisisachievedbyprovidingalllocalclubsandassociationswiththeuseofvariousfacilities at
The Community Centre.
Themainobjectivesfortheyearended31March2024werebroadlyinlinewithpreviousyears.Thatistoensurethatthe licensed
arm,OverCommunityEnterprisesLimited,generatessufficientincomeandhenceprofittoensureOCAcanpromoteitsaimsat a
subsidisedcosttothevillagers.Whileatthesametimeensuringthatsufficientfundsareretainedandusedfortheupkeep and
maintenance of the premises and its assets.
Public benefit
ThetrusteesconfirmthattheyhavereferredtotheguidancecontainedintheCharityCommission'sgeneralguidanceon public
benefit when reviewing the Associations aims and objectives and in planning future activities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Over CommunityAssociationhas againbeen able to offer free events and free room hire to localcharitablegroupsto the village
thisfinancialyearnowtheglobalpandemicisover.OverCommunityAssociationhascontinuedtosecureseveralgrants and
donationsthisyearthathasenabledmaintenanceworkonthebuildingandupkeeptobeperformed.TheOver Community
Association has supported the Centre Manager in the planning, review and oversight of this financial year.
FINANCIAL REVIEW
Financial position
Thebuildinghasbeenoperatingforovertwentyyearsnowandcontinuestobewellusedwithover40individualusergroups. The
subsidiarycompany,,OverCommunityEnterprisesLimited(OCE),setuptorunthebuilding,recordednetlossof£501forthe year
ended 31st March 2023 (2023 £180).
ManyusergroupscontinuetousetheCentre.Conferencetradehasreturnedwithmanycouncilsandgroupsreturningtouse the
Centre for offsite seminar and training. General business has also returned.
Reserves policy
TheTrusteesarecontinuingtoreviewOCA'sneedsforreservesinlinewiththeguidanceissuedbytheCharityCommission. They
recognisethatprovisionmustbe madefortheplannedreplacementof theall-weathersurfaceandothermajorassetsarekeptin a
good state of repair.
TheDesignatedFixedAssetFundwassetupbyatransferfromGeneralreserves.Thisfundrepresentsthenetbookvalueof assets
purchased from specific grants and donations where the restriction on the donation ceases once the money is spent.
The majorrisksto whichOCA is exposedhave been identifiedby the Trusteesandcontinueto be reviewed.Systemshave been, and
continue to be, established to manage those risks.
Page 1
OVER COMMUNITY ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
FUTURE PLANS
The Trusteescontinueto planfor the Centre'sfuture,by reviewingand planningrefurbishmentand replacementof core partsof the
buildinginfrastructureto ensure its longevity.Furthermore,close alignmentand partnershipwith the Centre Manageris maintained
tocarefullyplanforfutureyearstoensurethestabilityoftheCentreanditsoperations,toensureprofitabilityfromOCELtd and
future success.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a constitution and is an unincorporated charity.
Recruitment and appointment of new trustees
TrusteesaregovernedbytheconstitutionwhichrequiresallTrusteestoliveinthevillageofOver.Duetothisrequirement the
recruiting of new Trustees can be a challenging task.
The board of Trustees shall consist of:
- One representative appointed by Over Parish Council.
Village residentswho would like to become Over CommunityAssociationTrustees are invited to put their names forwardfor election,
or re-election at the AGM. Appointees are nominated by two members and elected by a simple majority at the AGM.
From time to time residentswith certainskills,normallyprofessionalones, are invitedto eitherstandfor electionor are co-opted on
as a Trustee. Training is delivered internally as deemed necessary.
Organisational structure
The day to day management is delegated to the Executive Committee who make the necessary day to day decisions.
The Centre Manageris employedto recruitthe staff she needs to generatethe income, throughlicensedactivities,that is required so
that OCA can continue to carry out its aims.
Decision making
The Trustees determine the general policy of the Association.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1014710
Principal address
Over Community Centre
The Doles
Over
Cambridge
Cambridgeshire
CB24 5NW
Page 2
OVER COMMUNITY ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Trustees
R A Bevington
D Carman
T T Sutton
P J Sibthorpe
G D Fenn
U Robertson
S Robinson
Independent Examiner
Andrew Rand
Thompson Taraz Rand Audit and Assurance Limited
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA
Approved by order of the board of trustees on 26 November 2024 and signed on its behalf by:
G D Fenn - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OVER COMMUNITY ASSOCIATION
Independent examiner's report to the trustees of Over Community Association
IreporttothecharitytrusteesonmyexaminationoftheaccountsofOverCommunityAssociation(theTrust)fortheyear ended
31 March 2024.
Responsibilities and basis of report
As thecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewiththerequirements of
the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandincarryingout my
examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completedmy examination.I confirmthat no materialmatters have come to my attentionin connectionwith the examination
giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
I haveno concernsandhavecome acrossno othermattersin connectionwiththe examinationto whichattentionshouldbe drawn
in this report in order to enable a proper understanding of the accounts to be reached.
Andrew Rand
Thompson Taraz Rand Audit and Assurance Limited
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA
26 November 2024
Page 4
OVER COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
Restricted
funds
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
45,237
2,000
Charitable activities
4
Charitable activity
6,000
-
Investment income
3
291
-
Total
51,528
2,000
EXPENDITURE ON
Charitable activities
Charitable activity
29,132
2,000
NET INCOME
22,396
-
Transfers between funds
12
(26,108)
26,108
Net movement in funds
(3,712)
26,108
RECONCILIATION OF FUNDS
Total funds brought forward
224,964
469,874
TOTAL FUNDS CARRIED FORWARD
221,252
495,982 |
2024
Total
funds
£
47,237
6,000
291
53,528
31,132
22,396
-
22,396
694,838
717,234 |
2023
Total
funds
£
94,397
6,000
44 |
|
|
100,441 |
|
|
34,026 |
|
|
66,415
- |
|
|
66,415
628,423 |
|
|
694,838 |
The notes form part of these financial statements
Page 5
OVER COMMUNITY ASSOCIATION
BALANCE SHEET 31 MARCH 2024
Notes
FIXED ASSETS
Tangible assets
7
Investments
8
CURRENT ASSETS
Debtors
9
Investments
10
Cash at bank
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS |
Unrestricted
funds
£
23,707
12,002
35,709
72,334
-
118,309
190,643
(5,100)
185,543
221,252
221,252 |
Restricted
funds
£
495,982
-
495,982
-
-
-
-
-
-
495,982
495,982 |
2024
Total
funds
£
519,689
12,002
531,691
72,334
-
118,309
190,643
(5,100)
185,543
717,234
717,234 |
2023
Total
funds
£
453,885
12,002
465,887
71,681
42,443
140,323
254,447
(25,496)
228,951
694,838
694,838 |
|
|
|
|
|
The notes form part of these financial statements
continued...
Page 6
OVER COMMUNITY ASSOCIATION
BALANCE SHEET - continued 31 MARCH 2024
Unrestricted
Restricted
funds
funds
Notes
£
£
FUNDS
12
Unrestricted funds:
General fund - assets (excluding bank)
General fund - bank (after contingency reserve)
Designated fund - bank (contingency reserve)
Restricted funds:
Property fund
AV equipment fund
New build pavilion fund
Jubilee celebration fund
TOTAL FUNDS |
2024
Total
funds
£
191,252
-
30,000
221,252
495,982
-
-
-
495,982
717,234 |
2023
Total
funds
£
147,041
47,923
30,000 |
|
|
224,964 |
|
|
418,332
1,253
50,000
289 |
|
|
469,874 |
|
|
|
|
|
694,838 |
The financialstatementswere approvedby the Board of Trustees and authorisedfor issue on 26 November2024 and were signed on
its behalf by:
G D Fenn - Trustee
The notes form part of these financial statements
Page 7
OVER COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenpreparedin accordance
with the CharitiesSORP (FRS 102) 'Accountingand Reportingby Charities:Statementof RecommendedPracticeapplicable to
charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUK andRepublic of
Ireland(FRS102)(effective1 January2019)',FinancialReportingStandard102'TheFinancialReportingStandard applicable
intheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshavebeenpreparedunder the
historicalcostconvention,withtheexceptionofinvestmentswhichareincludedatmarketvalue,asmodifiedby the
revaluation of certain assets.
Going concern
Therearenomaterialuncertaintiesaboutthecharity'sabilitytocontinue,onconsiderationofthecharity'sposition during
the year and post year-end.
Income
Allincomeis recognisedintheStatementof FinancialActivitiesoncethecharityhasentitlementto thefunds,it is probable
that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedas expenditureas soonas thereis a legalorconstructiveobligationcommittingthecharityto that
expenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamountof the
obligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassified under
headingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticular headings
they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asst over its estimated useful life.
Long Leasehold - 2% on cost
Improvements to property - varying rates
Fixtures and fittings - varying rates
Office equipment - 10% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfunds can only be used for particularrestrictedpurposeswithinthe objectsof the charity.Restrictionsarise when
specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 8
OVER COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
2. DONATIONS AND LEGACIES
DONATIONS AND LEGACIES |
|
|
|
2024 |
2023 |
|
£ |
£ |
Donations |
37,266 |
49,397 |
Grants |
9,971 |
45,000 |
|
47,237 |
94,397 |
INVESTMENT INCOME |
|
|
|
2024 |
2023 |
|
£ |
£ |
Deposit account interest |
291 |
44 |
INCOME FROM CHARITABLE ACTIVITIES |
|
|
|
2024 |
2023 |
|
Charitable |
Total |
|
activity |
activities |
|
£ |
£ |
Licence fees |
6,000 |
6,000 |
3. INVESTMENT INCOME
4. INCOME FROM CHARITABLE ACTIVITIES
5. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2024norfortheyear ended
31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
41,597
52,800
Charitable activities
Charitable activity
6,000
-
Investment income
44
-
Total
47,641
52,800 |
Total
funds
£
94,397
6,000
44 |
|
100,441 |
EXPENDITURE ON
continued...
Page 9
OVER COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
6.COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Charitable activities
Charitable activity
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
7.
TANGIBLE FIXED ASSETS
COST
At 1 April 2023
Additions
At 31 March 2024
DEPRECIATION
At 1 April 2023
Charge for year
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023 |
Improvements
Long
to
leasehold
property
£
£
800,942
188,758
-
77,650
800,942
266,408
382,776
162,690
16,019
4,306
398,795
166,996
402,147
99,412
418,166
26,068 |
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
13,365
20,661
34,026
34,276
32,139
66,415
190,688
437,735
628,423
224,964
469,874
694,838
Fixtures
and
Office
fittings
equipment
Totals
£
£
£
196,886
37,698
1,224,284
7,060
6,476
91,186
203,946
44,174
1,315,470
194,557
30,376
770,399
2,347
2,710
25,382
196,904
33,086
795,781
7,042
11,088
519,689
2,329
7,322
453,885 |
Total
funds
£
34,026 |
|
|
|
66,415
628,423 |
|
|
|
694,838 |
The land on which the buildings stand has been leased for a term of 99 years, commencing 18 August 1997 at a nominal rent.
The fixed assets are all used for charitable purposes.
continued...
Page 10
OVER COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
8. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
|
|
Shares in |
|
group |
|
undertakings |
|
£ |
COST LESS IMPAIRMENT |
|
At 1 April 2023 and 31 March 2024 |
12,002 |
NET BOOK VALUE |
|
At 31 March 2024 |
12,002 |
At 31 March 2023 |
12,002 |
There were no investment assets outside of the UK.
The investments represent the whole of the issued share capital of Over Community Enterprises Limited.
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Amounts owed by company under
the control of trustees
VAT
Prepayments
CURRENT ASSET INVESTMENTS
Assets under construction |
2024
£
71,021
863
450
72,334
2024
£
- |
2023
£
63,168
8,063
450 |
|
|
71,681 |
|
|
2023
£
42,443 |
10. CURRENT ASSET INVESTMENTS
continued...
Page 11
OVER COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Trade creditors
Other creditors |
2024
£
3,600
1,500
5,100 |
2023
£
22,496
3,000 |
|
|
25,496 |
12. MOVEMENT IN FUNDS
Unrestricted funds
All designated funds were set up by transfers from unrestricted income funds by Trustees.
The contingencyreservewas set up to reflectthe factOCA needsreservesto coverthe futureexpectedexpendituresuch as
the eventual refurbishment of the Centre itself. This represents £30,000 of the £118,309 cash at bank at 31 March 2024..
Remainingcashatbankof£88,309representsavailableliquidresourcesat31March2024tomeetthedaytoday future
requirementsoftheAssociation,includinganysupportgiventoitssubsidiaryundertakingOverCommunity Enterprises
Limited.
Restricted funds
The propertyfund representsthe income received in the form of grantsand donationswhich has been appliedto the cost of
constructionof the CommunityCentre and Conservatoryand the purchaseof CCTV equipment.Depreciationon these assets
is charged to the fund each year.
The AV equipmentfundrepresentstheincomereceivedintheformof grantsforthepurchaseaudioandvisual equipment.
Depreciation on these assets is charged to the fund each year.
13. RELATED PARTY DISCLOSURES
DuringtheyeartheCharityreceived£6,000(2023-£6,000)oflicencefeesfromOverCommunityEnterprisesLimited, its
100%subsidiaryundertaking.Thecharityalsoreceiveddonationsof£35,780(2023:£40,874)fromOver Community
Enterprises Limited.
At the year end there was a balance of £71,021 (2023 - £63,168) due from this company.
Page 12
OVER COMMUNITY ASSOCIATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Investment income
Deposit account interest
Charitable activities
Licence fees
Total incoming resources
EXPENDITURE
Charitable activities
Rent
Insurance
Village event costs
Sundry expenses
Marketing
Depreciation of tangible fixed assets
Donations
Support costs
Information technology
Repairs and renewals
Subscriptions
Governance costs
Independent examination fees
Total resources expended
Net income |
2024
£
37,266
9,971
47,237
291
6,000
53,528
-
249
2,049
205
-
25,382
-
27,885
1,551
196
1,747
1,500
31,132
22,396 |
2023
£
49,397
45,000 |
|
|
94,397
44
6,000 |
|
|
100,441
10
249
4,782
66
366
23,816
700 |
|
|
29,989
2,513
24 |
|
|
2,537
1,500 |
|
|
34,026 |
|
|
66,415 |
This page does not form part of the statutory financial statements
Page 13