RE615fERED COMPAf4Y NUMBER: 02919781 (England and Wales) REGISTERED CHARITY NUMBER: 1042233 REPORT OFTHE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 20Z4 FOR ROYDS COMMUNITY ASSOCIATION R.'yds A PLACE FOR EVERYONE Thornas Coombs Llmlted Statutory Auditor Chartered Accountants 3365 The Pentagon Century Way Thorpe Park West Yorkshire LS15 8Z8
ROYDS COMMUNITY ASSOCIATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Page Reference and Administrative Details Report of the Trustees Report of the Independent Auditors 9 to 12 Statement of Financlal Activlties Balance sheet 14 Cash Flow statement 15 Notes to the Cash Flow Statement 16 Notes to the Financlal Statements 17 to 28 Dqtailed Statement of Financial ACtiveS
ROYDS COMMUNITY ASSOCIATION REFERENCE AND ADMINISTRATIVE DEfAILS FOR THE YEAR ENDED 31ST MARCH 2024 TRusfEES A N Curtis C J Dinsdale J L Marriott NSNurden N I Shaper (resigned 11111241 LJWebb COMPANY SECRETARY C Vamev KEY MANAGEMENT PERSONNEL C Varney ICEOI A Briggs (Finance Managerl REGISTERED OFFICE Royds Enterprise Park Future Fields Buttershaw Bradford B063EW REGISTEREO COMPANY NUMBER 02919781 (England and Walesl REGISTERED CHARifi NUMBER 1042233 AUDITORS Thomas Coombs Limited Statutory Auditor Chartered Accountants 3365 The Pentagon Century Way Thorpe Park Leeds West Yorkshire L515 8ZB BANKERS National Westminster Bank PLC l Market St Bradford BDI IEG Page I
ROYDS COMMUNITY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED SI MARCH 2024 The trustees who are also directors of the charity for the purposes Df the Companies Act 2006, present their report wSth the financial statements of the charity forthe yezrended 31st March 2024. The trustees have adopted the provlsions ofAccounting and Reporting by Charities= Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Finantlal Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffecttve l January 20191. OBJECTIVES AND ACTIVITIES Policiu and objecttves The objethves of the charity are laid down in the Memorandum and Articles of Associatr'on: To promote the benefit of the Inhabitants of the benefit area without dlsttnttion of sex. race or of political, rellglous or other opinions by assocSadng together representatives of the sald inhabitants and various Other persons a common èffort to provide facllltles in the interest of social welfare for recreation and leisure time octupation wlth the object of improving the conditions of Ilfe for the said inhabStants. To fdrry on for the beneNt of the community in the benefit area of the business of providlng and improving housing aid any associated amenities for persons in necessitous circumstances upon temis approprlate to their mean5. To promote any charitable purpose for the benefit of the inhabitsnts of the benefit area and in parkncular the advancement of education and the relief of poverty. To promote lor the benefit of the public, urban or rural regeneratSon in areas of social and economic deprivation by the rellef of financial hardship, by the rellef of unemployment, by the advancement of education, training or retrninln& particularly arnong unemployed people and providing unemployed people with work experience. Aims of the Charity To be a locally and nationally respected organisadon which supports communities and individuals to improve their quality of life. It alms to bulld confidence and skills In others to enable them to tske control of their social, environmental and economic circumstances. We have complied wi+h the duty in section 4 of the Charities Act 2011 to have due regard to public benefft guidance published by the Charity Commission. All our charitable activities are undertaken to further our charitable purposes for the public benefit. The need for Royds Our main area of community focus is the Royds ward. Royd5 ward is one of six wards in the Bradford South area. It contains the communities of Buttershaw and Woodside and also includes parts of Wlbsey, Low Moor and Horton Bank Top Our area is affected by multiple indicators of deprivation, the ward being ranked Ilth in the District for the Index of Multiple Deprivation where l is the most deprlved and 30 is the least deprived. Royds continues wtth above distrirt average levels for employment depriv?tion and educaOn, skills and training deprivation. - Safer neighbourhoods are sought due to high levels of crime from Anti-social Behaviour IASBI, Violence agalnst people to vehicle securityi driving and illegal parking. Life expectancyof the Ward is lowerthan the national average with high rates for respiratory disease, some cancers and depression. Hospital admissions are hlgher than most other wards, parlicularly In relation t¢) Cancer, trauma, and is relattvely high in relation to stroke, diabetes and hypertension. Residents have not engaged well with health services and do not have the same aspiration5 for better health as other area5. Child Heath and Education for the ward remains a challenge across obesity, school attendance and rates. The percentage of 16117 year olds not in education is the highest in the district. Oble¢tives for the Year Our objectives for the year were as follows.. To continue to offer grass roots, high quallty Services that help community member5 make positive changes for themselves and their community. -To bring communitres and service providersto8ether through a range of seasonal and specilic events held at ourcommunity centres assets. To develop and deliver quality programmes within the sector that focus on community enablement. Focussing on health and employability. -To develop and deliver Partnership-wide inidatlves across a nètwork of setvices providers and communities, enabling broaderaccess to service5 across communities. To develop key relationships and partnerships within the sertor to influence and inform policy, enhance programmes of delivery that enable to the w,.-der network of communfty providers. To be a financially viable and sustalnable organi5ation by increasing eamed intome and ensuring full c05t recovery In all funding agreements. To be a local, respected organisation with high quallty standards, people and social values. Page 2
ROYDS COMMUNITY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 OBJEcmiES AND ACTIVITIES Strategie5 for achlevln8 oblecdves The Board of Trustees, CEO and the management +eom have worked together during the year to develop a 3-year strategy for Royds. The strategy focus areas are: o Create an environment of community enablement. o Provide a range of services and capabilities in the community. o Develop strategically aligned partnerships for Royds Community Association, Area and Oistrict. o Maintsln, develop, repurpose phIcal assets and underpin with a Green Plan. o Develop long-terrn financing strategy which enables stability to operations. - Ourstratebryforachieving our aims and objectives involves review of exlsfjng prograrnmes based on regular monltoring, and scrutiny of new programme proposa15 lo ensure they are in line wSth our overall objettlves and financial controls. The resilience of Royd5 Enterprlse Park, and the tenants. alon8 Wlth lOng-te planning withln the Community Strategy, allowing future forgrowth, enrichment and enablernent in the community. - To achieve the aims and objectives of the charity, programmes may be run as collaborattons, contracted or commissioned activity, 8rant funded activity, or as a result of earned income from our unrestricted income sources such as building5 and assets. Communty services such as community centres, advice and community development are subsldlsed from unrestrirted profitable income. and this ensures the charity can continue to meet local need. Page 3
ROYDS COMMUNifi ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 315T MARCH 2024 ACHIEVEMENT AND PERFORMANCE Charitable artlvities The charity continues to provide Services to its beneficiaries and strives to improve on the current offer and to create new services based on demand or need. Our main are35 of worklactivity are.. Landlord Setvices to Royds Enterprise Park, Healthy Living Centre & Woodside Village Centre. Cofflmunity Centres at Woodside and Delph Hill - Consorknum and Gateway Programmès Landlord Servlces Royds Enterprise Park The Enterprise Park is the major source of unrestricted income for the charltywhich is generated from rental income. room hSre and Service charges. The Park ha5 perforrned well throughout the year and are pleased to have maintained hSgh levels of occupancy during the year across the Industrial Units and maintained a healthy wawhng list for our units. Within the Head Office location we also secure resource from tenanted Offices and Meeting Rooms. The year has seen a flattening in the take of up meetin8 room space thls period but we have developed strong relaifonships with our customer5 who continue to come back again and again to use our services. Lookin8 ahead, Royds hope to build t)n our relationship5 to turn the current level positton to an upturn during the next year. The Enterprise Park continues to 8enerate real jobs via its business tenants and the majority of these are taken by local residents. Royds Healthy Uvlnl Centre Royds continues to provide valuable primary Ca health services to local residents, particularly in the Buttershaw aa, through the ownership of the Royd5 Healthy Living Centre which Is tenanted by the Ridge Medical Practice. Woodslde Takeaway & Shops Landlord provisrons are offered within Woodside estate. alongside our Community Centre, offering a suite of community assets. It is important to Royds to ensure that the assets continue to offer a benefit to the Cornmunity of Wood5ide 3nd are therefore managed well. To ensu community commitment is retained within our physical assets. we have been working with current and *uturetenants on the future of these properties. Comrnunit Centres Woodside Village Centre & Delph Hill Community Centre Royds continues to provide suppart to the local cornmunity of Woodside & Delph Hill through the ownership of the respective community centres. Within the centres we offer a wide range of services directly, through 3rd parties and for the general public. During the year we have been proud to continue to offer, Well Being Cafes, on-site public cafe5, Bradford Youth Services, Service drop-ins, craft groups. private partre5, seasonal events and much rnore. The centre5 have benefited from eouncil-led funding in the offerin8 of Warm/Welcoming Spaces. The scope to continue with the gr85s roo.s communlty Services is great and whilst funding remalns an underlylng challenge in the area we continue to look for innovative fundin& partnerships, volunteers and wider programmes to continue to offer services that the communit(es need and deserve and to make those much needed services sustainable. Page 4
ROYDS COMMUNITY ASSOCIATION REPORT OF ThE TRUSTEES FOR THE YEAR ENDED 31sr MARCH 2024 ACHIEVEMENT AND PERFORMANCE Partnershlp Programme5 & Network5 Royds works in partnershlp wlth many different organisations including, VCS Alllance and the NHS primary and secondary care services. We also work within the ward and acr05S Other programmes are In development including the Locality Plan5 With Bradford Council and subsequent Leadership Programmes atross the region. Wow Partnership In Bradford, Aldare and Craven, the nadonal model of Community Partnerships wa5 3dopted to drlve forward local declsion rnaking and partnership worklng, focu5sed Dn populations of between 30,(M)O and 60,000 these are called Community Partnerships. The dlstrlet has 10 Community Partnershlps In Bradford and 3 In AWC centred around small groups of GP Practices. Within these Communities, a range of different agencles work together In partnership to deliver Health and Care service to their local population. Eath area is coordinated by a Communlty Partnership leadership team comprlsing of different agencSes. Each of these leadership teams require VCSE representation, known as the VCS Anchor. Royds has continued to operate as the Lead Anchor role within the Wow Partnership, with Scholernoor Beacon offering deputy support. The role is key In working alongside other health care providers across the partnership area which includes Royds, Wibsey, Great Horton and parts of Little Horton and Queen5bury Wards. Royds Is proud to dellver the role which provlde5 a voice to the VCS organlsatior.s within the partnership area as well an opportunlty for those organisations to beneflt from support in health-ba5ed offerings within thelr communities. Royd$ 5ntends to build on this partnership worklng to enable other community organisations to be heard. Under the Partnershlp, Royds have continued to develop their input to the Core 20 plus 5 Reducing Inequalities programme. The Health Checks programme ha5 continued for a further year acr055 the communlty centres and events within the area. The programme is fully supported by the Primary Care Network IPCNI and it is often referred for best practr'ce principles. Over one thousand pattents have been seen throughout the programme and counting. We have also delivered the Befrlending and Volunteer Service which also falls into the Core 20 plus 5 Reducing Inequalities programme. Already confirmed to run for a second year, the programme has signed up twenty-seven volunteer5 to date and supported eighty-live Service users. Soclal Prescrlblng Llnk Workers Royds continue to manage the Social Prescribing Link Team on behalf of the PCN. Ori8inating withln a priority project of the Wow Partnership, the team Is now 5UStainable In Its own right and contr.nues to go from strength to strength across tommunlty services, GP practices and most importantly the community themselves in the partnership area. Receivlng over seventy referrals per month, malnly via GPS, the team of seven Social Prescribers work wlth patients to undèrstand their non-medical concerns and nehvork thèm into the available seThices within thelr community. Knitknng tQ8ether the patient need with the service provision. bul,'dinB the community engagement. Arise Yorkshlre Ltd Royds is one of four equal partner5 Wlth tr40 nominated directors of the Arise Yorkshire Ltd re8eneration company. The programme of selling properties when available has cOnnUed throughout the year resulting at a slightly Slower pace due to the availability of property and the market dynamlcs. We have also taken the step to contart tenants about possible purchase. The programme will continue throughout the nèxt period. Royds Communlty A550clatlon Isubsldiaryl Ltd Royds wholly owned trading subsldiary for carrying out non-charitable athvltles. However, as the charity has not needed a separate vehicle to condurt any of its activities, Royds Subsidlary Continues to be a dormant company. There 15 no activlty agalnst which to report for the year. Page 5
ROYDS COMMUNITY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH Z024 FINANCIAL REVIEW Finandal posltlon The charity's total incL)me for the financial year 2023124 year was £704.969 12023 £682,935), total expendlture, including depreciation, was £790,92912023- £695,1661 re5ultlng in a deficit for the year of £85.96012023 ylelded a small deficit of £12,231). Depreciation of E139.954 is included in the above figures. The charlty receives restricted funds either through contracting arrangements or In the form of grants from orBanisadons, and generates unrestricted funijs through rental income and provision of 5ervtces in Its building5, as well 85 through the provision of consultancy 5UPPOrt to thlrd party Organisaon$. The major funder5 durlng the year were Bradford Metropolitan District Council and Bradford VCS Alllance. Reserves pollcy The Board of Royds Communlty As50ciatton aims to develop a prudent level of reserves equivalent to three rnonths normal trading costs. Based on budgeted costs for the year ended 315L March 2025 this is a figure of £167,349 lapproxlmately £167.0001. We believe that thi5 is approprlate for the follow5ng reasons: - Covering any unforeseen emèrgency or other unexpected need for funds. -Absorbing any short term 5et-back5 or unexpected day-to-day operational costs. Ability to Invest in staff or costs to enable u5 to deliver new servlce5. Planned commitments that cannot be met by future income alone. Free reserves as at 31st March 2024 were £69,758 12023: £155.7401. The ¢haritsble companvs intention is to 8enerète annual surpluses in the medlum term to reach the targeted reseNe5 level. Plans are In place during the first quarter of 24125 to bring the reserves back In line through asset consolldation. Golng Concern The accounts have been prepared on a golng concern bas15 on the assumption that the charity is able to carry on operating as a going concern in the foreseeable future, which the trustee5 consider appropriate having regard to the following.. The major source of unrestricted income comes from rents and service char8es at the Enterprise Park. The park has continued to perform well and occupancy remains above 95% across the estate. The trustees see no reason for the success of the Its landlord assets to dlminish in the foreseeable future. Glven the uncertainty surrounding the public sector reduction in funding, the trustees remaln confident with a vlew to mitigating any potential loss in Income. The trustees are confident at this stage that the rental income can be retained or replaced with little effect on the budget. If funding for the project5 IS cut, then the service provision will reduce accordingly and corresponding expenditure wlll be reduced. The exiting of the West Y0rh1re Pension Fund during the year ended 31st March 2021 has resulted in the Charity having net liabillties of £1,158,671 lif fixed assets of £3,403,872 a excludedl at 3151 March 2024. The trustees are confident that they have finance options available to them should they be required. PLANS FOR THE FUTURE The charity has had over a decade of financially successful years (after depreciationl and wlll cont'nue to build on this posltive succe55 In 2024/25 in the key areas of health, the economy and community enablement. The dellvery model for the charlty is underpinned by the generation of surpluses from unrestricted income prlmarily Royds Enterprise Park - to subsldise areas of work whlch are unable to generate income such as community or youth support, and this continues to allow the charity to deliver against its charitable objectives within a stable financial model. We will continue to work with partners to address local issues and needs and continue to develop collaborative arran8ement5 to attract funds and contracts. Royds community building5 continue to be at the heart of OLFr charitable delivery. providin8 econom1¢ and employment beneflts at Royds Enterprise Park and our local shops, health benefits at the Royds Healthy Living Centre, community benefits at Woodside Village Centre and Oelph Hlll Centre. Our key collaborative model Is Arise Yorkshire Ltd, a company limited by guarantee. formed by Royds and three partners of similar size and make up. which atts as a bidding vehicle for larger, district wide programmes and contracts. Par.Trnershlp with other organisations rernains a key part of our delivery strategy. Royds are cOnnUInE to perform well under the Cost of Living challenges and are weil placed and exclted to move into 2024125 and deliver some re211y great progrzmmes In the community. Page 6
ROYDS COMMUNITY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 STRUCTURE, GOVERNANCE ANO MANAGEMENT Goveming document The charity is controlled by its governing document, a deed of tDJst, and constitutes a limlted company, limited by guarantee, as defined by the Companies Act 2006. Charlty con5tltution Royd5 Community Association 15 a Re8lStered Charity and a company limited by guarantee. It 15 governed by its Memorandum and Arkncles of Association. The charity has one trading subsidiary, which wa5 dormant in thi5 year. The charity is governed by a b03rd of up to 10 trustees who are responsible for implementing the policies of the organisation. Trustees are on the board for an unlimited period. All of the trustees are a150 members of the Charitable Company. Organisational rtrutture and decision making The board meet5 bi-monthly and conducts its busrness against presented reports and trustee discussion. All decisions are minLrted and action lists are compiled following meetings. The board meet annually to review it5 governance. delivery and future plans. The charity operates a series of comm."ttees which report to the full board. - The Finance Committee meets monthly to consider rnanagement accounts, cash tlow and day-to-day linancial control. - The Community Committee meets quarterly to consider the running of our community centres, our health, adult care and welfare programmes, and the developrnent of the Charitv social aims. The A55et Committee meets monthly to Consider the management of the charlty's buildings, maintenance and development. and new capital programmes. The committees re¢elve some delegated decision-making powers from the board trom time to time. The Chief Executive Officer has delegated responslbility for day-to-day-decision making and for limited spending, both against poll¢es agreed prevlously by the board. Staffing structure The day-to-day management of Royd5 is led by the organisation CEO. The CEO works closely with the Board to set and oversee the delivery of our business strategy. We employ a finance manager to oversee the core business. Our community projects are delivered by suitably trained and experienced project staff. Royds Intends to increase its facilities team with the appointment of a Facilities Manager early in the next period. The oversight of the community and facllldes area of work remains with the CEO. Rlsk management The charity continually reviews the rna0r rlsks to which thè charwty is exposed. Where appropriate, the systems and procedures have been established to rnanage the risks that the charity face5. The CEO reports to all board meetings of the risk established as part of the annual business planning process. The charity has policie5 and governance structure5 for finance, health and safety. recruitment and selection, use of volunteers. equality of opportunity, quality management and risk assessment. TRUSTEES, RESPONSIBILITY STATEMENT The trustees Iwho are a150 the directors of Royd5 Community Association for the purposes of company Izwl are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepte(i Accounting Practice). Company law require5 the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affair5 of the charitable company and of the incoming resources and application of resources. including the income and expenditure, of the charitable company for that period. In preparing those financial statements. the trustees are required to select 5Ultable accounting policies and then appty them consistently- observe the methods and principles in the Charity SORP,. rnake judgements and e5timate5 that are reasonable and prudenr prepare the financial 5tatement5 on the goin8 concern basis unless it is inappropriate to presume that the charltable company will continue In buslness. Thè trustees are responsible for keeping proper accounting record5 which disclose with reasonable accuracy at any time the financial positio,1 of the chzritable company and to enable them to ensure that the finzncial statements comply with the Companie5 Art 2006. They are also responsible for safeguarding the a55et5 of the charltable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitre5. Page 7
ROYDS COMfvIUNifi ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 TRUSTEES, RESPONSIBILITY STATEMENT- ¢ontlnued In so far as the trustees are aware.. there is no relevant audit informatton of which the charitable company's auditors are unaware,. and the trustees have taken all step5 that they ought to have taken to make themselve5 aware of any relevant audit informatton and to establish that the auditors are aware of that information. TheTrustees (who are also direttors of Royd5 Community A550ciation forthe purposes of company lawl are responsible for preparirjg the Tru5tees' Report and the financial 5tHtements in accordance with applitable law and United Kingdom Accounting Standards (United Kingdom GÈnerally Accepted Accounting Practice). Cornpany law requires the Trustees to prepare financial statements for each financial year. Under Company law the Trustees must not approve the financial 5tatement5 unless they are satisfied that theygive a true and fairview of the state of affairs of the charitable company and of the incomlng resources and application of resources, includlng the income and expenditure. of the charitable company for that period. In preparing these financial ststements, the Trustees are qUIred to.. select Suitable accountin8 policies and then apply them consistently; observe the methods and principles in the Charities SORP; - makeludgments and accounting esrimates that are reasonable and prudent,. prepare the frnancial statements on the Boing concern ba515 unless it is inappropriate to presume that the charltable company will contsnue in operafjon. The Trustees are responsible for keeping adequate accounting record5 that are sufficient to show and explain the charitable Company's transaciions and disclose with reasonable accuracy at anytime the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are a150 responsible for safeguarding the a55et5 of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. AUDITORS The audltors. Thomas Coombs Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the board of trusteès on 17th July 2024 and signed on Its behalf by.. A N Curb5- Trust Page 8
REPORT OFTHE INDEPENDENT AUDITORSTO THE MEMBERS OF ROYDS COMMUNITY ASSOCIATION Opinion We have audlted the financial statements of Royd5 Community Association Ithe 'charitable company'l for the year ended 31st March 2024 which cornprise the Statement of Financial Activlttes, the Balance Sheet, the Cash Flow Statement and notes to the linancial statements, including a summèry of significant accountin8 policies. The financial reporknng framework that has been applled In their preparation is appllcable law and United Kingdom Accounting Standards Iunlted Klngdom Generally Accepted Atcounting Pr8¢ticel. In our opinion the financial 5taternent5'. give a true and falr vlew Of the state of the charltable Company's affairs as at 31st March 2024 and of its incoming resources and applicatton of resource5, including its income and expenditure. for the year then ended,. have been properly prepared in accordance wlth United Kingdom Generally A¢¢epted Accounting Praclice,. and have been prepared in accordance vllth the requirements of the Companies Act 2006, Basls for opinion We conducted our audlt In accordance with International Standards on Auditing IUKI IISAS IUKII and appllcable law. Our responsibilities under those standards are further described In the Auditors, responslblllies for the audit of the financlal 5tstements Section of our report. We are independent of the charitable tompany in accordance with the ethical requirements that are relevant o our audit of the financlal staternents in the UK, Sn¢luding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities In accordance with these requirements. We believe that the audlt evidence we have obtained is sufficient and approprizte to provide a basls for our opinion. Concluslons lating to goin8 concern In auditing the flnancial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financlal statements is approprlate. Based on the work we have performed, we have not Identified any material uncertaintie5 relating to events or conditions that, individually or collecfjvely, may cast significant doubt on the charitable companvs ability to continue as a golng concern for a period of at least trNelve month5 frorn when the financial statements are authorised for Issue. Our responsibilities and the responsibilities ot thÈ trustees with respect to going concern are described in ihe relevant sections of thls report. Emphaslsofmatter We draw attentlon to note 2 to the flnancial Statements which explain the directors assessment of uncertalntles arising in connection with the charity's former membership of the West Yorkshire Pension Fund. Other Inf0MtIOn The trustees are responsible for the other information. The other information comprlses the information included In the Annual Report. other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial Statements doe5 not covef the other information and. except to the extent otherwlse explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the linancial 5tztements, our sponsibl11fy is to read the other InrMatiOn and. in doing so, tonsider whether the other information is materially inconsistent wlth the finantial statements or our knowledge obtained in the audit or otherwise appears to be materlally m15Stated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether thi5 gives rise to a material misstatement in the financial statements themselves. If. based on the work we hzve performed, we conclude that there Is a materlal misstatement of this other information, we are required to report that fact. We hève nothing to report in thi5 regard. Oplnlons on other matters prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of the Trustees for the financial year for which the flnanclal statement5 are prepared is consistent with the financi315tatements,' and the Report of the Trustees h35 been prepared in accordance with appli(zble legal requirement5. Page 9
REPORT OFTHE INDEPENDENT AUDITORS TOTHE MEMBERS OF ROYDS COMMUNITY ASSOCIATION Matters on whlch we are required to report by exceptlon In the light of the knowledge 2nd understanding of the charitable company and its environment obtalned In the course of the audit. we have not Identified material misstatements in the Report of thè Trustees. We have nothing to report in respect of the following matters where the Companies Art 2006 requires us to report to you if, in our opinion: adeqdate accounknn8 records have not been kept or returns adequate for our audit have not been received from branches not visited by us,. or the financlal statements are not in agreement with the accounting record5 and returns; or certain di5dosure5 of trustees, remuneration specified by law are not made.. or we have not received all the InfOrMaOn and explanations we require for our audit,. or the trustees were not entitled to take advantage otthe small companies exemptton from the requirement to Prepa a Strategic Report or in preparing the Report Of the TrLLStees. Responsibilities of trustee5 As explained more fully in theTrustees' Responsibilie$ Statement. thètrustees Iwho are also rhe direttors of the charitable companv for the purposes of company lawl are responsible for the preparation of the financial statement5 and for being satisfied that they give a tme and fair view, and for such internal control as the trustees determine is necessary tD enable the preparation of financial Statements that are free from material mi55tatement. whether due to fraud or error. In preparing the financial statements, the trustees are re5PDnsible for assessing the charitable company's abillty to continue a5 going concern, dSsc105ing, a5 applicable, matters related to going concern and uslng the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operation5. or have no realistic alternative but to do so. Page 10
REPORT OF THE INDEPENDENT AUDITORS TOTHE MEMBERS OF ROYDS COMMUNITY ASSOCIATION Our responslblllties for the audit of the financial staternents Our oblethves 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 a Report of the Independent Auditor5 that Includes ouropSnlon. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will alway5 detect a material mi55tatement when It exlsts. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to Snltuence the e¢onomlc declslons of users taken on the basis of these financlal statements. Irregularffjes, Includ1ng fraud, are Instances of non-compliante with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material mi5Statements in respert of irregularities, including fraud. The extent to whith our procedures are capable of detecting irregularities, including fraud is detailed below.. Based on our understsnding of the entity and industries in which it operates, we Identified the prlncipal risks of non-compliance wlth laws and regulations rÈlated to charltable trusts, the appllcatfon of charltable funds and data protectlon. We also consldered those laws and regulations that have a dSre¢t Impact on the preparation of the financial statement5 such as the Charities Act zoii. We assessed the suscepdblllty of the company's tlnanclal statements to material misststement and how fraud might occur, including through discussions with the direttor5, discus5ion5 Wlthin our audit team planning meeting, updating our record of internal control5, and ensuring these controls operated a5 intended. We deterrnirsed the principal risks were related to posting journal entries to manipulate proflts, and management blas In accoundng esdmates, especially acuued and deferred income. To address the risk of fraud through management bias and override of controls. we.. Performed analytical procedures to identify any unusual or unexpected relationshlps. Identilied and tested journal entries and identified any significant transactions that were unusual or outside the normal course of business. Investlgated the ratlonale behlnd significant or unusual tiansactions. Challenged assumptions and jud8ements made by management in determining significant accounting estimate5, in particular in relation to accrued and deferred Income. In response to the risk of irregularities and non-cornpliance with laws and regulations, we designed audit procedure5 which included, but were not limited to.. -Agreeing financial statements dlsclosures to underlylng supportlng documentation. - Discussion5 Wlth management of known or suspected instances of non-compliance with laws and regulations. - Reading the minute5 of meetings of those charged with govemance. Reviewing correspondence with HMRC and relevant regulators. At the completion 5ta8e of the audit, the engagement partner's review included ensuring that the tearn had approached their work with appropriate professlonal scepttc15m and thus the capacity to identify non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures described above and the further removed non-compliBnce of laws and re8ulations Is from the event5 and transactions reflected in the financial ststements, the le55 likely we would become aware of it. Also, the risk of not detecttng a materlal mlsstaiement reladng to fraud is higher than the risk of not detecting one resulting from error. as fraud may involve deliberate Concealment. A further descriptlon of our responsiblllfjes for the audlt of the flnan¢Sal statements Is located on the Flnanclal Reportlng Council's website at www.frc.org.uVauditorsresponslbilÉknes. Thls description form5 part of our Report of the Independent Auditor5. Page 11
REPORT OFTHE INDEPENDENT AUDITORS TO THE MEMBERS OF ROYDS COMMUNITY ASSOCIATION Use of our report This report is made solely to the charitable company'5 members. as a body, in actordance with Chapter 3 of Part 16 of the Companies Art 2006. Our audit work ha5 been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the chaiitable company and the charitable company's members as a body, for our audit worl for this repo¢ or forthe opinions we have formed. C. Christopher Darwln FC4 Isenior Statutory Auditorl lor and on behalf of Thomas Coombs Limited Statutory Auditor Chartered Accountant5 3365 The Pentagon Century Way Thorpe Park Leeds West Yorkshire LS15 8ZB 17th July 2024 Page 12
ROYDS COMMUNITY ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 2024 Total fund5 2023 Totsl funds Unrestricted funds RÈstricted funds Notes INCOME AND ENDOWME5 FROM Donadons and legacies 24,642 20.950 45,592 65,423 Charitable activitles Landlord Communitycentre Partnership 524,852 66,405 9.372 524.852 74.350 60.175 549,748 48.889 18.875 7,945 50,803 Total 625,271 79,698 704,969 682,935 EXPENDITURE ON Charitable activities Landlord Community Centre Partnership 593,941 IZ3.073 157 593.941 i43.4 53.794 567,684 122,024 5,458 20,121 53.637 Totsl 717.171 73,758 790,929 695,166 NET INCOMEIIEXPENDfwRE) Transfers between funds {91,9001 9,576 5.940 (9.5761 185,9601 112,2311 20 Net movement In funds 182.324) 13,636} (85,960} 112,2311 RECONCILIATION OF FUNDS Total funds brought forward 2,302,954 Z8,Z07 2,331,161 2,343,392 TOTAL FUNDS CARRIED FORWARD 2,220,630 24,571 2,Z45,201 2,331,161 The notes tomi part of these financial statements Page 13
ROYDS COMMUNITY ASSOCIATION BALANCE SHEET 315T MARCH 2024 2024 Totsl fund5 2023 Totsl funds Unregiricted ftsnds Restricted funds Notes FIXED ASSETS Tangible assets Inv•stments Investments Social investments 12 155,732 155.732 105.767 13 14 3248.159 a.248,139 3,294.446 3,403m2 3,403.872 3.400.214 CURRENT ASSETS Debtors Cash at bank and in hand 15 138,942 156031 138.942 181A02 67,180 296,418 24.571 295,773 24,571 320.344 363.598 CREDITORS Amounts falling due within one year 16 (211.210) 1211.210) 1155,5441 CURREf+lT ASSErs 84,563 24,571 109,134 208,054 TOTAL ASSEfs LESS CURRENT LIABILITIES 3,488,435 24.571 3,sia,006 3,608.268 CREDITORS Amount5 falling due after more than one year 17 {14,8051 114,8051 124,1071 PROVISIONS FOR LIABILITIES 19 {1.253.0001 11,253,000) 11,253,0001 NET ASSETS 2,220,630 24,571 2,245,201 2,331,161 FUNDS Free reserve5 lexcludlng pension reseNel Fixed asset reserve Pension reseNe Restricted funds 20 69,758 3,403,872 11,253,000) 24,571 155,740 3,400,214 11,253,000) 28,207 TOTAL FUNDS 2.245,201 2.331.161 These financial statements have been prepared in accordance with the provisions appllcable to charitable companie5 subject to the small companies regime. The linanciBI statements were approved by the Board of Trustees and authorised for issue on 17th July 2024 and were Signed on its behalf by.. A N Curtis- Trustee The notes form part of these financial statemep.ts P3ge 14
ROYDS COMMUNITY ASSOCIATION CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2024 2024 2023 Note5 Cash flows from operating artivitie5 Cash generated from operatfons 39.054 129.798 Net cash provided by operating activities 39,054 129.798 Cash flows from investing zctivitie5 Purchase of tangible lixed a55ets Purchase of social investments Sale of tangible fixed assets 181,5891 162.5821 559 130,1481 173.3941 Net cash used in investing activikne5 1143,612) 1103,5421 Cash flows from Ilnan¢lng a¢ti¥ltie5 Loan repayments in year {10,458) 117,9401 Net cash used in financing arttvltles IION581 117,9401 Change in cash and cash equivalents in the reporting period Cash and lash equivalents at the beglnnlng of the reporting period {115.016) 8,316 Z96.418 288,102 Cash and ¢a$h equlvalents at the end of the repofdng perlod 181,402 296,418 The notes form part of these financial statements Page IS
ROYDS COMMUNITY ASSOCIATION NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2024 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM QPERATING AcrivmES 2024 2023 Net expenditure for the reportlng perlod las per the Statement of Ananclal Activities) Adjustmerrts for: Depreciation charges Loan interest Ilntrea5el/decrease in debtors Increaselldecreasel in credTtors 185.9601 112,2311 139.954 136.229 1,809 6.846 12,8551 171,762) 56,134 Net Cash provided by operations 39,054 129,798 ANALYSIS OF CHANGES IN NET FUNDS At 114123 Cash flow At 3113124 Net osh Cash at bank and in hand 296.418 115,0161 18IA02 296.418 {115.0161 18L402 Debt Debts falling due wlthin l year Debts falling due after l year 110,6081 124.1071 468 9.301 {10,140) 114.8051 134,7151 9.770 24,9451 Total 261,703 {105,246) 156,457 The notes form part of these financial statements Page 16
ROYDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH Z024 GENERAL INFORMATION Royds Communtty Association Is a charitsble company lirnited by guarantee, incorporated in England and Wales. The registered office is Royds Enterprlse Park, Future Fields, Buttershaw, West Yorkshire. BD6 3EW. The members of the charStable company are the Trustees named on page l. In the event of the charitsble tompa4y being wound up. the liability in respect of the guarantee is limited to £1 per member of the charitsble company. ACCOUNTING POLICIES Basi5 of preparlng the financial statrments The financial statements of the charitable company, which is a publrc benefit entity under FR5 102, have been prepared in accordance with the Charities SORP IFRS 1021'Atcounting and Reporhng by Charrknes= Statement of Recommended Pracknce applicable to chaiiknes prepaiing their account5 in 3ccordancewith the Financial Reporhng Standard applicable in the UK and Repijblic of Ireland IFRS 1021 (effective l January 20191., Financial Reporknng Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investment5 which are included at market value. Golng concern The accounts have been prepared on a going concern basis on the assumphon that the Charity is able to carry on Dperatfng a5 a going concern in the foreseeable future. which the trustee5 consider appropriate having regards to the following- The Majorsour of unrestricted income comes from rentS3nd service char8e5 at the Enterprise Park. The park has contlnued to perform well throughout the pandemlc and occupancy remains above 95%. The trustees See no ason for the success of the Park to diminSsh In the foreseeable future. The organisation a150 has long term tenants in the Healthy Living Centre and the shop5 at Woodside. The exiting of the West Yorkshire Pension Fund during the year ended 31st March 2021 has resulted in the charity having a provislon for a future liabllity of £1,253,000 in the financial statements. The Charity 15 in regular dialogue with the West Yorkshire Pension Fund and Bradford Metropolltan Distrirt Council to discuss this issue and 15 confident that there will be no short-term request from the West Yorkshire Penslon Fund to recover the liability. A number of options to ameliorate the liability are belng discussed which, bytheir nature will tske a reasonable amount of time to flnalise. The trustees are confident that they will be able to finance vthatever the final agreed position is. Critical accountln8 ludgements and key sources of estlmètion uncertalnty In the application of the charitres accounting policies. the trustees are required to make judgements, estimatos and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sour¢e5. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The esLimates and underlying assumptions are reviewed on an ongoirkg basis. Revisions to accounting estimates are re£ogni5ed in the period in which the estimate is revised. if the revision afferts anly that period, or in the period of the revision and future periods if the revision affects both current and future periods. Incorne All irhcome is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, rt is probable that the income will be received and the amount can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specifi purposes but not expended duringthe period is shown in the relevant funds on the 8alance Sheet. Where income is received in advance of entitlement of receip¢ Its recognition is deferred and included in creditor5 as deferred income. Where entitlement occurs before Sntome is received. the income 15 accrued. Income tax recoverable in relation to donattons received under Glft Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recogni5ed at the time the investment Income is receivablè. Page 17 continued...
ROYDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMEKfs - continued FOR THE YEAR ENDED 3mARcH 2024 ACCOUNTING POLICIES- nnUed Expendlture Expenditure Is recognlsed once there is a legal or constructive obligation to transfer economic benefit to a third party, it Is probable that a transfer of economic benetits will be requlred in settlement and the amount of the obilgatton can be measured reliabty. Expenaiiure is dassined DV acrivity. The costs of each activity are made up ot the total oi direct eosts and shared costs, includin8 5UPPOrt costs involved in underraklng each activity. Direct costs attributable to a single activityare allocated direttly to that attivity. Shared costs whlch contribute to more than one activity and support costs which are not attributable to single activity are apportioned between those activities on a basis conslstent wlth the use of resources. Central stsff costs are allocated on the basis of tlme spent, and depreciation charges allocated on the porknon of the asset's Use. Expenditure on charitable actr"vities is incurred on directly undertaklng the activitie5 which further the company's tsbjects"ves, as well as any assoelated support costs. All expenditure is inclusive of irrecoverable VAT. Tangible fixed assets Tangible fixed assets are stated at cost lor deemed costl or valuation less accumulated depreciation and accumulated Impalrment losses. Costs includes costs directly attributable to making the asset capable of oper3tin8 as intended. Depreciation is provided to write off the cost less the estimated residual of tangible ftxed assets by equal instalments over thelr estlmated useful etonomic lives as follows.. Fixtures and fittings plant and machinery Motor vehicles Freehold property - 25% on a reducing balano basls - 25% on a reducing balance bas15 - 25% on cost - 2% on tost Social investments Social investments relare tt) property held to further the objectives of the Charity. Social investment in property are stated at cost lor deemed costl or valuation less accumulated depreciation and accumulated impairment losses. Costs include5 costs directly attributable to making the amet capable of operating as intended. Depreciation is provlded to wrSte off the cost le5$ the estimated residual of the assets by equal instalments over their estimated useful economlc lfves a5 follow5- Social investments in property 2% on ccst Taxation The charity is exempt from corporatfon tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion ol the trustees. Restricted funds can only be used for particular restricted purposes within the object5 of the charity. Restrictions arise when specified by the donor or when furhd5 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. Financial instrument5 The charity has financi31 assets and financial liabilitie5 of a kind that qualify as basic and complex financial instruments. Ba51C finantial instruments are measured at their settlement value in the case of current assets and liabilities and at discounted settlement value in the case of creditor5 fallin8 due after more than one year. Page 18 continued..-
ROYDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEfvIENTS- contlnued FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNTING POLICIES- continued Financlal Instruments Deb+.ors and creditors with no stated interest rate and receivable or payable wlthln one year are recorded at transaction price. Any losses arising from impairment are recDgnised in profft or loss. Liabilities and PTovisions Liabilities are recognised when there i5 an obligation at the balance sheet date as a result of 3 past event. it is probable that transfer of economic benefit will be required in settlement and the amount of the settlement can be estimated reliably. Liabllittes are cOgnised at the amountthat the Charity anticipates itwlll payto settle the debt orthe amount it has recelved as advanced payments for the goods or servlce5 It must provide. Provisions are measured at the best estimate of the amount5 required to settle the obllgatton, Where the effect of the ttme value of money is materlal, the provlslon Is based on the present value of those amounts. discounted atthe pre-tax discount ratethat reflects the risks specific to the liability- The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost. DONATIONS AND LEGACIES 2024 2023 Donations Grants 12,887 32,705 59.256 6,167 45,592 65,423 Donation Income includes a corporate gift aid donatlon of £12,88712023 - £59.2561 from the joint ventL're in which thè charity participates, Arise Yorkshire Limited. Grants received included in the above are as follows.. 2024 2023 Kickstart scheme Climate Communlty West Yorkshire Energy Bradford Council Funding 6,167 18,800 5.000 8,905 32,705 6,167 Page 19 continued..
ROYOS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2024 INCOME FROM CHARITABLE AcfiviTIES 2024 Total activitie5 2023 Total activities Community Centre Landlord Partnership Rents ReceNed Cafe Income Othèr Income 424,462 71.492 28A98 38053 2356 12.441 463315 94y8 101514 512,905 67,455 37,152 60,175 524,852 74.350 60.175 659.377 617.512 2023 549,748 48,889 18,875 617.512 CHARITABLE ACTIVITIES cosrs Direct Costs (see note 61 Support costs (see note 71 Totals Landlord Community Centre Partnership 587246 143,194 53,794 6,695 593.941 143.194 53,794 784,234 6,695 790,929 2023 688,666 6,500 695,166 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Depreclation Consultant Rate5 and utilities Insurance Repalrs and maintenance Printin& postage & stationery IT, telephone & internet Legal and professional fees Subscriptions Bank interest & charges Sundries Cafp c05t5 Bad debt5 Management charge Funding expense5 Room hire cost 324.161 139.954 22.347 78.935 26.849 77.491 4.787 13,850 3.152 1,586 1,228 16.197 54.154 1,184 271.255 136,229 7.620 54.895 32.040 87.299 5.172 9.168 10.164 1.803 5.471 11.871 45.653 5,367 11,626 2,733 4,659 784,234 688,666 SUPPORT COSTS Support ¢05ts all relate to 8overnan¢e being auditors remuneration. Page 20 continued...
ROYDS COMMUNrrY ASSOCIATION NOTES TO THE FINANaAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST MARCH 2024 NET INCOMEIIEXPENDITURE) Net incomellexpenditurel is stated after chargingllcrediting}'. 2024 2023 Audltors, remuneratlon Depreciation- owned assets Depreciation of soclal Investments 65 31065 108889 6,500 29,573 106,656 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023. Trustees, donat5ons There were no trustees, donation5 recei¥ed forthe year ended 31st March 2024 northe year ended 31st March 2023. Tru5tee5' expenses There were no trustees, expenses paid for the year ended 31st March 2024 nor for the year ended 315t March 2023. io. STAFF COSTS 2024 2023 Wage5 and salaries Social security costs Contrlbutlon to deflned contribution pension scheme 293.970 24,101 6,090 245.754 20,628 4,873 324.161 271.255 The average monthly number of employees durlng the year was as follow5.. 2024 2023 Management Admlnlstrattve and support io Iz li The number of employees whose employee benefits (excluding employer pension costs) exceeded £60.0(XJ was.. 2024 2023 £60,001- £70,000 The average full time equivalent of employees durlng the year wa5 12.3512023: 9.241. Remuneratlon and benefits reIVed by key management personnel The key management personnel of the charity include the Chlef Executive Officer and Finance Manager. The total employment costs to the Charity of the key management personnel durlng the year was £109,76212023- £101,870). Page 21 continued...
ROYDS COMMUNITY ASSOCIAnoN NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31ST MARCH 2024 ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AalVrnE5 Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 65,423 65.423 Charltable artlvltles Landlord Community Centre Partnership 54Y,748 41,396 13,851 549,748 48,889 18,875 7.493 5,024 Total 670,418 12,517 682,935 EXPENDITURE ON Charitable a¢tivities Landlord Community Centre Partnership 567,684 95.887 75 567,684 122,024 5.458 26,137 5,383 Total 663,646 31,520 695,166 NET INCOMEI{EXPENDITURE) Transfers between funds 6,772 9,444 119.(K)31 19,4441 112.2311 Net movement in funds 16,216 128,4471 112,2311 RECONCILIATION OF FUNDS Total fvnds brought fOard 2,286.738 S6,654 2,343,392 TOTAL FUND5 CARRIED FORWARD 2,302,954 28,207 2,331,161 12. TANGIBLE FIXED ASSETS Fixture5 and flthngs Plant and machinery Motor vehitles Totals C05T At 1st April 2023 Additions Disposals 323.808 1,920 349,720 79,669 15591 13,000 686.528 81.589 {SS91 At 31st March 2024 325.728 428,830 ,000 767,558 DEPREcoN At 1st April 2023 Charge for year 312,391 2,854 262,926 25.611 5,444 1600 580.761 31,065 At 31st Marth 2024 315.245 288,537 8.044 611M26 NET BOOKVALUE At 31st March 2024 10,483 140.293 4,956 155,732 At 315t March 2023 11.417 86,794 7,556 105,767 Page 22 Continued..
ROYDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 13. FIXED ASSET INVESTMENT5 Unlisted Investments MARKET VALUE At 1st April 2023 and 31st March 2024 NETBOOK VALUE At 31st March 2024 At 31st March 2023 There were no investment 85sets outside the UK. The Investment represents 100% of the share capital of a dormant company, Royds Community Association Isubsidiaryl Umited. Royds Community AssocSatfon Isubsidiaryl Limlted- Net assets at 31st March 2024.. £112023.. £11. In addition, the Charity is one of four members of Arlse Yorkshire Limited. Reflecting the "company limited by guarantee" status of Arise Yorkshire Llmited, no historic cost value is attributed to the interest held by the Charity- The net assets of Arise Yorkshire Llmited at 31st March 2024 were £852,70212023: £903,980). soaAL INVESfMENrs 14. Social investments property MARKETVALUE At 1st April 2023 Additions 5,351,156 62.582 At 31st March 2024 5A13,738 PROVISIONS At 1st April 2023 Provision for year 2,056,710 103.889 At 31st March 2024 2,165.599 NET BOOK VALUE At 31st March 2024 3,248,139 At 31st March 2023 3,294,446 Page 23 continued...
ROYDS COMMUNrrY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 15, DEBTORS.. Amoubifs FALLING DUE WITHIN ONE YEAR 2024 2023 Amounts reteivable in the ordinary course of business Prepayrnents and accrued income 45,452 93,490 45,816 21,364 138,942 67,180 16. CREDITORS: AMoUTrs FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and over(Irafts (see note 181 Creditors in the ordlnary course of business VAT Other Creditors Accruals and deferred income 10,140 65,921 1,384 37,619 96,146 10.608 62,052 13,978 30,726 38,180 211.210 155,544 17. CREDITORS: AMOUTrtrs FALLING DUE AFTER MORETHAN ONE YEAR 2024 2023 Bank loan5 (see note 181 14.805 24,107 18. IOANS An analysls of the maturity of loans Is given below.. 2024 2023 Amount5 falling due wlthin one year on demand.. Bank loans 10,140 10,608 Amounts falling between one and two year5: Bank loans- 1-2 years 10.397 10,162 Amounts falling due between two and five year5: Bank loans- 2-5 years 4,408 13,945 19. PROVISIONS FOR LIABILITIES 2024 2023 Pension provision 1.253,000 1.253,000 The exiting of the West Yorkshire Pen5i0n Fund during the year ended 31st March 2021 triggered a final Scheme valuation.. thls showed a deficit giving rise to a charge on the charity which is shown as a liability provision In the accounts. The Charity is in regular dialogue with the West YorkshSre PensSon Fund and Bradford Metropolitan Distrlct Council to discu55 ultimate settlement and is confident that there will be no short-term request from the West Yorkshire Pension Fund to recover the liability. A number of Options to ameliorate the liability are being discussed which, by their nature. will tske a reasonable amount of time to finalise. The trustees are confident that they wlll be able to finance whatever the final agreed position is. Page 24 continued...
ROYDS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST MARCH 2024 20. MOVEMENTIN FUNDS Net movement in funds At 3113124 At 114/23 Unrestrictad lunds Free reserves (excludin8 pension reserve) Fixed asset reserve Pension reserve 155,740 3,400,214 11,253,000) 185,982 3.658 69.758 3,403,872 11,253,OCIOI Re5trirted fund5 Royds Befrlending Service Well Belng Cafe Woodslde Communlty Garden Core20+5 Health Check Corè20+5 Befriending & Volunteer Project Food Delivery and Wellbeing Check Pilot Warm Spaces WY Mayor5 Climate Communlty 9.995 14,512 1,451 2,249 19,9951 114,5121 1,451 8,291 5,187 573 167 8,902 6,042 5,187 573 167 8,902 TOTAL FUNDS 2,331,161 185,9601 2,245,201 Net movement in funds, included in the above are as follows.. Income received Resources expended Transfers Movement in funds Unrestrlrted funds Free reserves lexcluding pension reserve) Fixed asset reserve Pension reserve 625,271 1576,6581 1140,5131 1134,5951 144,171 185,9821 3.658 Restrirted funds Royds Befriending Service Well Being Cafe Care Homes Community Links Combined Funds Cost of LIVÈ Support Core20+5 Health Check Core2045 Befriendin8 & Volunteer Project Food Delivery and Wellbeing Check Pilot Jer Lane Kings Coronation Wam Spaces Welcome Spaces WY Mayors Climate Communitv Youth and Communlty Chest Woodside 19,9951 115,7021 17,0001 12,8801 12,0581 129,3671 15771 12681 14521 14,048 11,2611 9,99SI 114.5121 1,190 7,000 2,880 8,l¢XI 34,554 I,0 6,042 5,187 573 268 398 4,215 1,261 18,800 150 167 19,8981 8.902 11501 TOTAL FUNDS 704 29 Page 25 continued...
ROYDS COMMUNITY ASSOCIATION OTES TO THE FINANCIAL STATEMENTS - contlnued FOR ThE YEAR ENDED 31ST MARCH 2024 20. MOVEMEKf IN FUNDS- contlnued Comparatives for movement in funds Net movement in fundg At 3113/23 At 114122 Unrestrlcted fund5 Free reserves lexcluding pension reseNel Fixed asset reserve Pension reserve 106,837 3.432,901 11.253,0001 48,903 132,6871 155.740 3.400,214 11,253,000) Re5trirted funds New Horlzons Royds Befriending Service Well Belng Cafe Jer Lane Lock Down Local Arts, Craft5, Trips Woodside CommunityG3rden Social Prescribers Lung Cancer Core20+5 Health Check 41,571 141,5711 9,995 14,512 18201 12901 14701 16,8621 15,1901 2,249 9,995 14,512 820 290 1,921 6,862 5,190 1,451 2,249 TOTAL FUNDS 2,343,392 112,2311 2,331,161 Comparative net movement in funds. included in the above are as follows: Income received Resources expended Transfers Movement In funds Unrestricted funds Free resefyes (excluding pension reserve) Fixed asset reserve Pension reserve 670,418 1527.4171 1136.2291 194,0981 103.542 48.903 132,6871 Restrirted fund5 New Horizons Royds Befriending Service Well Bein8 Cafe Jer Lane Lotk Down Local Arts, Crafts, Trips Woodside Community Garden Social PreKribers Lung Cancer Core20+5 Health Check Covid Support Cost of Living Crisis Sports Youth and Community Centre Warm Spaces DH Wami Spaces Woodside Youth and Community Chest DH Youth and Communlty Chest Woodside 141.5711 14.428 27,143 141,5711 9,995 14,512 18201 12901 4701 16.8621 15,1901 2.249 52 2.766 14,4851 115,3971 18201 12901 14701 12,6081 14,2S41 15,1901 5.024 1.500 675 1,000 12,7751 11,5001 16751 11,(MJoi 11,0001 12501 12501 250 250 TOTAL FUNDS Page 26 cor)tinued...
ROYDS COMMUNITh ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST MARCH 2024 MOVEMENT IN FUPJDS- con15nued Restricted funds Royds Befriending Jervl-e - the provision of a face to face and telephone befriending services across the Royds area. The setvice was provided underthe New Horizons umbrella funded underthe Day Opportunitiesgrant with 8radford Councll and now is a stsndalone seNice under the same funding structure which is assessed annually. During 2023 this service was closed and any seNi¢e users transferred to the WOW Partnershlp BefrlendlnE Project. Well Being Cafe - the provision of monthly healthy eating lunch service for SS+ age group. The ser¥ice was provided under the New Horizons umbrella funded under the Day Opportunities grant with Bradford Council. This is now a standalone service operated through a service user small fee and ad hoc top up funding either from locally sourced grants or community fund raising events. Woodside Cornmunity Garden- A kick5tart projettto redevelop the gardens at Wood5ide to create a fruit and flower garden forthe lotal communityto enjoy atfacevalue. enhance the well being cafe service duringthe summer months and to educate on the simplicity of growing fruit and flowers to improve general well being. The activity was funded through the Climate Action Fund. Bradford South. Core 20+5 Health Check (formerly Diabetes Health Checkl Confirmed as a priority project in 2023/24 the original Health checks project has secured funding for a further two years within the WOW Partnership. The Community Health Checks provide base core Ihecks including, height, weigh( hearL cholesterol and other simple blood tests in conjunction with The Five Parks PCN across events throughout the Partnership area includln& Royds, Great Horton. Wibsey and parts of Queensbury and Little Horton. Core 20+5 Befriending &Volunteer Project- Oneof the prlority projects of the WOW Partnership.Two yearsfunding secured to deliver a befrienains and volunteer service across the partnership area of Royd5, Great Horton, Wibsey, Queensbury and little Horton. The Services Provides face to face, telephone and buddy service primarily, but not limited to, 55+ service users. Food Delivery & Wellbeing Check Pilot ABCD Grant funding to operate a pilot stheme for local residents to request wellbeing check which includes the optton of securing a food parcel for an agreed period of time. The pilot was formed from recognising that people were unable to physically get to locations to collect food but also to enable an understanding of need, reducing dependency. allowing specific inclusion items and a general wellbeing chetk fur the individual to allow signposting to other services. Warm Spaces Woodside- Warm Spaces are a Grant Fund offered by Bradford Metropolitan District Council a5 a result of the tost of living crisis. The grants were award to organlsatlons support of allowing community assets to be used to en3ble residents to benefir from a warm space with access to hot drinks, snack5 and Wifi for internet access. Royds secured the funding to enable regular times throughoLrt the week for these facilities to be avallable at both its Wood5ide and Delph Hill Centres from Decembei through to March 2023. It is intended to confjnue offering similar services at both centres throughout the forth-cOln8 year in line with funding opportunities to do $0. WY Mayors Climate Community - As part of our Green strategy, a funding application made to tackle the efficiency of our communwty centres at Wood5ide and Delph Hill. The main project covers the upgrading of all internal and external I ghting to LED which as well as climate benefits also helps reduce the costs of operations at the centres. A small amount of the grant also allow5 Lhe instsllation of bike rack5 to encourage travel ta the centres by bike. The project continues into the 24125 financial year. Gèneral funds Fixed asset reser¥e- this represents the net book value of soci31 investment properry which is held to enable third pathes to undertake activitie5 that contribtste tu the charitable objecrives of Royds Community Association. Accordingly the trustees Collsider it appropriate to separate it from general free reserves. Pension reserve as discussions concerning the charge for exiting the West Yorkshire Pension Fund continue. the trustees consider It appropriate to separate thls from General fund free re5erve5. Transfers between funds The transfer between the WY Mayors Climate Community and general fund represents the fulfilrnent of the restriction through the purchase of iangible fixed assets, costs whlch were not expensed to the SOFA. Page 27
ROYDS COMMUNrrY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnved FOR THE YEAR ENDED 31ST MARCH 2024 21. CAPITAL COMMITMENTS The Charity was contracted to capital expendlture of £55.388 at the balance sheet date. These amounts have been provlded for In the financial statements. RELATED PARTY DISCLOSURES Trustees are required to declare all relevant interests with which they are connected and in accordarKe with the Charity's licy withdraw from dècisions where a conflirt of interest arises. Some Trustees use their expertise in areas affecting Royd5 Community A55ociation. but no Trustee had any significarrt personal financial Interest in contrart5 With the Charity during the year. The following related party transactions have occurred durlng the year: Arise York5hlre LlmltÈd Arise Yorkshire Limlted Is a joint venture company in which Royds Community Association 1$ a partner. Recharges of accountancy and administrative services totslled £10.20912023- £13,021). Gift aid donations recelved were £12,88712023- £59,2561- MEMBERS. LIABILITY Each member of the charltable company undertakes to contribute to the assets of the company in the event of It being wound up whlle he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required. not exceeding £1 for the debts and liablllties contracted before he/she cea5e5 to be a member. Page 28
ROYDS COMMUNITY ASSOCIATION DETAILED STATEMENT OF FINANCIAL AcnviTIES FOR THE YEAR ENDED 31ST MARCH 2024 2024 2023 INCOME AND ENOOWMENTS Donatlons and lega¢les Donations Grants 12,887 32,705 59,256 6.167 45.592 65,423 Charltable artl¥ilies Rents Received Cafe Income Other Income 463,315 94.548 101,514 512,905 67,455 37,152 659,377 617,512 ToLIl incoming resources 704.969 682,935 EXPENDITURE Charitable acllvltSes Staff costs Depreciation Consultant Rates and utilities Inwrance Repair5 and maintenance Prlnting, postage & stadonery IT, telephone & Internet Legal and professional fees Subscriptr'ons Bank interest & charges Sundrie5 Cafe costs Bad debts Management charge Funding expenses Room hire cost 324.161 139.954 22,347 73,935 26,849 77A91 4,787 13,850 3,152 1.$86 1228 16.197 54,154 1.184 4.OLh) 11.626 2.733 271,255 136,229 7.620 54.895 32,040 87.299 5.172 9,168 10,164 1,803 5,471 11,871 45,653 5,367 4.659 784.234 688,666 Support costs Governance costs Auditors, rernuneration 6.695 6,500 Total resources expended 790,929 695,166 Net expenditure 185.960) 112.2311 This page does not form part of the statutory financial statement5 Page 29