The Regal Community Association
Charity No. 1041414
Accounts
For the Year Ended
31 December 2023
The Regal Community Association Cover
Trustees
Mr. Ali Akkas (Chairman)
Mr. Viju Jayadevan (Vice chair)
Bankers
Lloyds TSB PLC Department 23-12
Ariel House
2138 Coventry Road
Sheldon
Birmingham
Independent Examiner
Oxon Accountancy
28 The Quadrant
The Science Park
Abingdon
OX14 3YS
Page 1
The Regal Community Association Contents
| Pages | ||
|---|---|---|
| Statement of Trustees' Responsibilities | 4 | |
| Independent Examiners | 5 | |
| Trustees' Certificate | 5 | |
| Receipts and Payments Account | 6 | |
| Detailed Receipts and Payments Account | 7 | |
| Notes to the Accounts | 8 | |
| Balance Sheet | 9 |
Page 2
The Regal Community Association Statement of Trustees Responsibilities
Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its financial activities for that period. In preparing those financial statements the Trustees are required to:
-
(a) Select suitable accounting policies and then apply them consistently;
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(b) Make judgements and estimates that are responsible and prudent;
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(c) State whether applicable accounting standards and statements of recommended practice have been followed, subject to departures disclosed and explained in the financial statements;
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(d) Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy, at any time, the financial position of the charity and to enable them to ensure that the financial statements comply with the relevant law. They are also responsible for the safeguarding of assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
The Regal Community Association Independent Examiners Report
Independent Examiner's Report to the trustee of The Regal Community Association
I report to the charity trustee on my examination of the financial statements of The Regal Community Association for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity's trustee (and also a director for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in accordance with section 386 of the 2006 Act ; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Oxon Accountancy 28 The Quadrant The Science Park Abingdon
OX14 3YS 31 December 2023
Trustees' Certificate
We confirm that the accounts set out on pages 1 to 7 provide a true and fair record of the financial affairs of The Regal Community Association for the year ended 31st December 2022.
Trustee
Trustee
Page 4
The Regal Community Association Receipts and Payments Account
for the year ended 31 December 2023
| Income Gross income for the year Property Administration Financial Total expenditure for the year Net expenditure for the year |
2023 £ 32,601 32,601 17,427 19,128 1,400 37,955 (5,354) |
2022 £ 24,396 |
|---|---|---|
| 24,396 | ||
| 16,012 10,366 700 |
||
| 27,078 | ||
| (2,682) |
Page 5
The Regal Community Association Statement of Financial Activities for the year ended 31 December 2023
| Notes Income: Hall Hire VAT Reclaim Telephone Grants Interest Total Property Costs Rates Light heat & Gas Repairs & Renewals Caretaker Insurance Administration Costs Telephone Printing and Stationery Equipment Cleaners Wages Cleaning Materials Financial Costs Accountancy Total Net expenditure Reconciliation of funds: Total funds brought forward Total funds carried forward |
2023 £ 32,601 - - - - |
2022 £ 24,396 - - - - |
|---|---|---|
| 32,601 1,684 11,218 1,645 4,260 1,430 848 - 9,053 4,468 1,949 1,400 |
24,396 203 8,220 1,094 3,804 2,691 757 49 4,364 3,920 1,276 700 |
|
| 37,955 | 27,078 | |
| (5,354) 120,974 |
(2,682) 123,656 |
|
| 115,620 | 120,974 |
Page 6
The Regal Community Association Notes to the Accounts
for the year ended 31 December 2023
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with applicable accounting standards and the statement of recommended practice "Accounting by Charities".
Accounting Convention
The financial statements have been prepared under the historical cost convention on an income and expenditure basis.
Assets
The amount shown in the balance sheet represents the cost of the assets after depreciation.
Taxation
The trust is exempt from taxations charitable institution under section 505 of the income and Corporation Taxes act 1988.
Tangible fixed assets
| Cost or revaluation At 1 January 2023 At 31 December 2023 Depreciation and impairment At 1 January 2023 Depreciation charge for the year At 31 December 2023 Net book values At 31 December 2023 At 31 December 2022 |
Fixtures & Fittings £ - - - - - - - |
Total £ - |
|---|---|---|
| - | ||
| - - |
||
| - | ||
| - | ||
| - |
Movement in funds
| Movement in funds | |||||
|---|---|---|---|---|---|
| At 1 January 2023 110,974 10,000 120,974 |
Incoming resources (including other gains/losses) £ 32,601 - 32,601 |
Resources expended £ (37,955) - (37,955) |
Gross transfers £ - - - |
At 31 December 2023 £ 105,620 10,000 |
|
| General funds Building Reserve Total funds |
|||||
| 115,620 |
Page 7
The Regal Community Association Balance Sheet
at 31 December 2023
| at 31 December 2023 | |
|---|---|
| Company No. Notes 2023 £ Fixed assets Tangible assets - Current assets Debtors & Prepayments - Cash at bank and in hand 115,620 115,620 Creditors:Amount falling due within one year - Net current assets 115,620 Total net assets 115,620 The funds of the charity Unrestricted funds General funds 105,620 Designated funds 10,000 115,620 Total funds 115,620 |
2022 £ - - 120,974 |
| 120,974 - |
|
| 120,974 | |
| 120,974 | |
| 110,974 10,000 |
|
| 120,974 | |
| 120,974 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 31 December 2023
And signed on its behalf by:
Trustee
31 December 2023
Page 8