REGISTERED COVIPANY NUMBER: 2919896 (En&land and Wales) REGISTERED CHARITY IIUMBER: 1037403 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 FOR THORLF.Y COMMUNITY CE]YTRE LIMITED Cook and Partners Limited Chartered Accountants 32 Rye Street Bishop's Stortford Hertfordshirc CM23 2HG
THORLEY COMMUNITY CENTRE LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Aetivitie5 Balance Sheet Notes to the Financial Statements 6 to 10 Delailed Statement of Financial Activitie5
THORLEY COMIIWNITY CENTRE LJMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 3 1st August 2024. The trustee5 have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireliind (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIFS Objectives and aims The princtpal activity of the COTnpany is the provision and maintenance of a coinmunily centre for the use ot the inhabitants of the arcas dround Thorley Park in Bishop's Stortford, Hertfordshire.Thc Director Trustees encourage use of the cenlre for activities for young people and the elderly. Signlficant activities The Centre is now al the age where rouline, but rnore major maintenance may be expected, but we have been fortunate that nothing major has been required. ACHIEVEMELYT AND PERFORMANCE Charitable activities The puryose of the trust remains the provision and mainlenance of the community centre. The majoi'ity of uses duTTng the day have remained rnore or less as they were for last yeaT, i.e. for young people, including Mother and Toddler class, Yoga and Pilates or for older people, such as Yoga and U3A fitness classes. In the evening5, the activities are more biased towards adults and include Dance and Keep Fit classes as well as Physio Pilates, Bounce and Karate. The weekend uses remain the same too, particularly in the mornings, include Bounce, Karate classes and the Dance School. Saturday evenings and Sunday afternoons are still generally reserved for casual bookings by local people wishing to organise children's parties, quiz nights and infornlal meetings. Periodically the centre is used as the lo¢al Polling Station. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its goven)ing document, a deed of trnst, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Recruitment and appointment Of new trustees The 'frustees have generally been invited to become trustees because of the skills thej. have to offer. Persons interested are elected at the Annual General Mceling. The Trustees have sought to involve users as trustecs, but despite regular requests, no one froin thc prLsenl users currently wishes to becotne a Trustee. Press Releasc.8 seeking people to become Trustees hdV¢ be¢n issued. The Trustees are seeking to establish a successful plan to encourage new I'rustees and ensure continuation of management if any of the cuen1 Trustees no longer wish to continue. Organisational structure Board Meetings are held at appropriate times throughout the ycar to set policy and Tnake appropriate decisions on financial Inatters. Day to day decisions as to the hiring of the hall, cleaning, rrlaintenance, repairs etc are deleaated to the Centre Manager, Mr J Bailey, who also acts as Treasurer. Induction and training of new tru,¥tee5 As a small charity, with little turnover in trustees, there is no fomial induction procedure. Thc Chair: Michael Talbot, who was a Trustee of a major national chartty, induct5 trustees on an infomal basis, and provide5 copies of appropriate Charity Commission guidelines to role5, duties and responsibilities of trustees to new trustees. REFERENCE AIND ADMIIYISTRA TIVE DETAILS Registered Company number 2919896 (England and Wales) Registered Charlty number 1037403 Page I
THORLFY COMMUNITY CENTRE LIMITED REPORT OF THF TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024 Registered office 6 Market Square Bishops Stortford Hertfordshire CM23 3UZ Trustees M Talbot Director Trustee N Barrett Director Trustee C Hill Director (deceased 13.6.24) Company Sccrctary M Talbot Independent Examiner Cook & Partners Limited Cook and Partners Limited Chartered Accountants 32 Rye Street Bishop's Stortford Hertfordshire CM23 2HG Bankers National Westminster 7 North Street Bishops Stortford Hertfordshire CM23 2LD Solicitors Nockolds Solicitors Limited 6 Market Square, Bishop's Stortford, Herts, CM23 31JZ Approved by order of the board of trustees oQltanuary 2025 and signed on its behalf by: M Talbot - Trustee Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THORLEY COMMUNITY CENTRE LIMITED Independent examiner'5 report to the trustees ofThorley Community Centre Limited ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 st August 2024. Responsibilities and basls of report As the charity's trustees of the Company {and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (Ihe 2006 ACÉ,). Having satisfied myself that the accounts of the Company are not required to be audiled under Part 16 of the 2006 Act and are elioible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 201 l Act,). In catrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 201 l Act. Independent examiner's statement I have completed my examination. I confwm that no matters have come to my attention in connection with the examination givlng Ine cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act. or the accounts do not accord with those records; or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination- or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Repot1ing Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention sliould be drawn in this report in order to enable a proper understanding of the accounts to be reached. Cook & Partners Limited Cook and Partners Limited Chartered A¢countants 32 Rye Street Bishop's Stortford Hertfordshire CM23 2HG 8th January 2025 Page 3
THORLEY COMMUNITY CENTRE LIMITED STA TEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted tund Notes INCOME AND ENDOWMENTS FROM Other trading activities Investment income 42,145 1,563 42,145 1,563 42,288 1,121 Total 43,708 43,708 43,409 EXPENDITURE ON Raising funds 41,344 5,725 47,069 40,679 NET INCOMEI(EXPENDITURE) 2,364 (5,725) (3,361) 2,730 RECONCILIATION OF FUNDS Total funds brought forward 152,448 213,177 365,625 362,895 TOTAL FUNDS CARRIED FORWARD 154,812 207,452 362,264 365,625 The notes fonn part of these financial statements Page 4
THORLEY COMMUNITY CENTRE LIMITED BALANCE SHEET 31SI" AUGUST 2024 2024 Total funds 2023 Total funds UnrebtriLted fund Restricted fund Notes FIXED ASSETS TangTible assets 207,452 207,452 213,177 CURRENT ASSETS Debtors Cash at bank 4,710 152,226 4,710 152,226 2,729 150,799 156,936 156,936 153,528 CREDITORS Ainounts falling due within one year (2,124) (2,124) (I,080) NET CURRENT ASSETS 154,812 154,812 152,448 TOTAL ASSETS LESS CURRENT LIABILITIES 154,812 207,452 362,264 365,625 NET ASSETS 154,812 207,452 362,264 365,625 FUNDS Unrestricted fimds Restricted funds 10 154,812 207,452 152,448 213,177 TOTAL FUNDS 362,264 365,625 The charitable company 15 entitled to exemption from audit under Section 477 of the C()rnpanies Act 2006 for the year ended 3 1st August 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 3 1st August 2024 in accordance with Section 476 of ihe Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 3 87 of the Companies Act 2006 and preparing fmancial statements which give a true and fair view of the state of affairs of the charitable company as the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 rclaling to findncial statements, so far as applicable to the charitable company. (b) These financial statcmcnts havL been prepared in accordance with the provisions applicable to charitable companies subjcct lo thL 51nall Lump¢inie5 regiTMe. The financial statements were appi'oved by the Board of Trustees and authorised for issuc o signed on its behalf by: January 2025 and were M Talbot - Trustee The notes form part of these financial statements Page 5
THORLEY COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 ACCOUNTING POLICIES Basis of preparing the financial statement5 The financial 8idtLments of the charitable company, which is a public benefit entity undLr FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing thLif 4L¢cuunt5 in accordance with the FinanLi<il KeportiT)g Standard applicable in the UK and RepubliL of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Comp¢inies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recogni5ed in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation comTnitting the charity to that expenditure, it is probable tliat a transfer of economic benefits will be required in settleinent and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets DcprcLl4Ltiun is provided at the following annual rates in order to write off each asset over its estimated useful life. Short leasehold Fixtures and tittings in accordance with the property 25 /0 on cosl Taxation Th¢ charity is ¥xcmpt froTn corporation tax on its charitable activities. Fund accounting Unrestricted fulld5 can be used in accordance with the charitable objectives at the discretion of the trustees. Reslricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. OTHER TRADING ACTIVITIES 2024 2023 Regular Bookings Occasional Bookings 37,707 4,438 38,683 3,605 42,145 42,288 Page 6 continued...
THORLEY COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2024 INVESTMENT INCOME 2024 2023 Deposit account interest 1,563 121 NET INCOME/(EXPENDITURE) Net incomel(expenditure) is stated after ¢harging/{crediting): 2024 2023 Depreciation - owned assets 5,725 5,725 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 3 1st August 2024 nor for the year ended 3 1st August 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31st August 2024 nor for the year ended 31 st August 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Other trading activities Investment income 42.288 1,121 42,288 1,121 Totsl 43,409 43,409 EXPENDITURE ON Raising fvnds 34,954 5,725 40,679 NET INCOME/(EXPENDITURE) 8,455 (5,725) 2,730 RECONCILIATION OF FUNDS Total funds brought forward 143,993 218,902 362,895 TOTAL FUNDS CARRIED FORWARD 152,448 213,177 365,625 Page 7 continued...
THORLEY COMMUNITY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued 'oR'rHE YEAR ENDED 31ST AUGUST 2024 TANGIBLE FIXED ASSETS Fixtures and fittings Short leasehold Totals COST At 1st September 2023 and 3 1st August 2024 343,474 5,403 348,877 DEPRECIA TION At I st Sepiember 2023 Charge for year 130,297 5,725 5.403 135,700 5,725 At 3 1st August 2024 136,022 5,403 141,425 INET BOOK VALUE At 3 1st August 2024 207,452 207,452 At 3 1st August 2023 213,177 213,177 DEBTORS: AMOUIYTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors 4,710 2,729 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trad¢ ¢r¢ditors Accrued expenses 1,044 1,080 1,080 2,124 1,080 io. MOVEMENT IN FUNDS Net movement in funds At 31.8.24 At 1.9.23 Unrestricted funds General fund 152,448 2,364 154,812 Restricted funds New CommLll)ity Centre BuTlding Fund 213.177 (5,725) 207,452 TOTAL FUNDS 365,625 (3,361) 362,264 Page 8 continued...
THORLEY COMMUNrrY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST AUGUST 2024 io. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are a5 follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fLd 43,708 (41,344) 2,364 Restricted funds New Community Centre Building Fund (5,725) (5,725) TOTAL FUNDS 43,708 (47,069) (3,361) Comparatives for movement in funds Net movernent in funds At 31.8.23 At 1.9.22 Unrestricted funds General fund 143,993 8,455 152,448 Restri¢t¢d funds New Community Centre Building Fund 218,902 (5,725) 213,177 TOTAL FUNDS 362,895 2,730 365,625 Comparattve net moveinent in funds, included in the above are as follows.. Incoming resources Resources cxpellded Moveinent in funds Unrestricted funds General fund 43,409 (34,954) 8,455 Restricted funds New Community Centre Building Fund (5,725) (5.725) TOTAL FUNDS 43,409 (40,679) 2,730 Page 9 continued.
THORLEY COMMUNITY CENTRF. LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued OR THE YEAR ENDED 31ST AUGUST 2024 io. MOVE.VJENT IN FUNDS - continued A Current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 1.9.22 31.8.24 Un restricted funds General fund 143,993 10,819 154,812 Restricted funds New Cominunity Centre Building Fund 218,902 (11,450) 207,452 TOTAL FUNDS 362,895 (631) 362,264 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unre5tricled funds General nd 87,117 (76,298) 10,819 Restricted funds New Community Centre Building Fund (11.450) (11,450) TOTAL FUNDS 87,117 (87,748) (631) RFLATF,I) PARTY DISCLOSURES There were no related party transactions for the year ended 31 st Augusi 2024. Page 10
THORLEY COMMUNITY CENTRE LIMITED DETAILED ST A TEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR Ef4DED 31ST AUGUST 2024 2024 2023 INCOME AND ENDOWMENTS Other trading activities Regular Bookings Occasional Bookings 37,707 4,438 38,683 3,605 42,145 42,288 Investment income Deposit account interest 1,563 1,121 Total incoming resources 43,708 43,409 EXPENDITURE Other trading activities Wages Water Rates Insuraiice Light and Heal Alarm System Telephone Licences Administration Expenses Repairs and Maintenance Cleaning Sundry Expenses Auditors, Reinuneration Equipment Secuirty Short leasehold 9,700 694 1,226 3,975 217 1,227 505 332 1,443 20,535 (306) 1,080 134 582 5,725 9,700 869 1.208 4,096 1,098 872 1,162 937 13,360 237 1,415 5,725 47,069 40,679 Total resources expended 47,069 40,679 Net (expenditure)/income (3,361) 2,730 Thi5 page does not forni part of the statutory financial statements Page 11