## **GROVE PARK COMMUNITY GROUP** # **ANNUAL REPORT WITH FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** **CHARITY REGISTERED NUMBER 1046082** ## **LONDON ACCOUNTANCY PRACTICE SOJOURNER TRUTH CENTRE 161 SUMNER ROAD** **LONDON SE15 6JL** ## **GROVE PARK COMMUNITY GROUP** ## **FINANCIAL STATEMENTS** |**FINANCIAL STATEMENTS**|| |---|---| |**FOR THE YEAR ENDED 31 MARCH 2024**|| |**CONTENTS**|**Page**| |Contents
|2| |Administrative Information|3| |Report of the Trustees|4-6| |Independent Examiner’s Report|7| |Statement of Financial Activities|8| |Balance Sheet|9| |Notes to the Accounts
|10-12| |Detailed Income & Expenditure
|13| 2 |**GROVE PARK COMMUNITY GROUP**|**GROVE PARK COMMUNITY GROUP**| |---|---| |**ADMINISTRATIVE INFORMATION**|| ||**AS AT 31 MARCH 2024**| |**Trustees**|| |John King……………………………………………………. Chair|| |Barry O`Donovan ……………………………………………Vice Chair|| |Betty Croft ....................................................................... Secretary|| |Sonja Aldengard …………………………………………… Treasurer|| |**Charity Number**................................................................1046082|| |**FORMAL ADDRESS**|Grove Park Community Group| ||The Ringway Centre| ||268 Baring Road| ||Grove Park| ||LONDON| ||**SE12 0DS**| |**BANKERS**|**HSBC UK**| |**INDEPENDENT EXAMINER**|London Accountancy Practice| ||Sojourner Truth Centre| ||161 Sumner Road| ||London SE15 6JL| 3 ## **GROVE PARK COMMUNITY GROUP Report of the Trustees For The Year Ended 31st March 2024** The Trustees have pleasure in presenting their report together with the accounts for the year. ## **Legal Status** The Charity is governed by its Constitution, Amended version 4A, Combined 2008, which forms the rules and regulations of the Charity. ## **Method of Recruitment of Trustees** Officers are elected either at the Annual General Meeting or the first meeting of the General Committee. The Trustees are appointed by recommendation of the existing Trustees. ## **Charitable Activities and Objectives** The charity (registered no. 1046082) was established to advance the education of and provide facilities for recreation and leisure time activities in order to improve the conditions of life of the residents of Grove Park. ## **Organisation and Decision Making** The Trustees regularly meet to review these activities and make decisions as to the strategic direction the Charity should take, and communicate this to those responsible for delivery. ## **Trustees’ Report of the year 2023/2024** This report covers the Group’s activities from April 2023 to March 2024. Officers elected at the AGM on 27 February 2023 did not gain access to the Ringway Centre office and GPCG finances until 19 April, more than seven weeks after taking over responsibility for both. It took another month before a new bank mandate was in place enabling payment of salaries and bills. Having access to records meant that the treasurer was able to look into the 2021-2022 accounts circulated at the 2023 AGM without there being anyone present who could answer questions about them. Some discrepancies were discovered but, as the accounts had already been signed off, the accountant who had examined them was reluctant to get involved. Various attempts at making sense of the accounts delayed 4 submission to the Charity Commission, and a last minute technical hitch in accessing the platform caused further delay. The accounts were finally submitted early December. In May 2023 the newly elected GPCG officers received a letter from a firm of solicitors in Ipswich purportedly acting for ‘the current officers of Grove Park Community Group’ and naming GPCG’s former chair and vice-chair, questioning the validity of the AGM held in February. A reply was sent setting out the facts and reasons that had led committee members to take the matter of holding an AGM into their own hands. A second letter arrived in August which, after due consideration, it was decided to ignore. Under the new management the community group has become a more transparent and welcoming organisation, reflected in how the community centre is run. GPCG is beginning to look outwards again by forging stronger links with other voluntary groups in Grove Park, some of which hold meetings and events at the centre. GPCG’s main source of income is from lettings, and it is fortunate that the community centre continues to attract a wide range of regular activities. Some groups have been with us for many years, such as the Lacemakers, Lewisham Philatelic Society and U3A, and during the past year Sidcup Lapidary & Mineral Society has become established at the Ringway. There are after school tutorials during term time and a play scheme during holidays. Ceramics classes for both adult and after school remain over-subscribed, and the Grove Park Bike Hub has become a service much used by the community. The Ringway Art Group (RAG) is attracting a growing number of participants, and stages regular art exhibitions at the centre. The Grove Park & Beyond walking group continues to meet every Wednesday, and the centre hosts both Pilates and dance classes. The Events Committee run by volunteers have organised a range of events throughout the year, including Easter Egg Hunt, Summer Fair, Tea Dance, Freaky Thursday Fright Night (Halloween), Christmas Lunch and Cockney Night. Many regular activities are run by GPCG volunteers, first and foremost the Ringway Community Café on Fridays, and also Busy Bees Stay & Play and Woodwork sessions twice a week as well as music evenings twice a month. A number of faith groups meet at the Ringway Centre and, of course, our big halls are regularly being hired for birthday parties and other family celebrations. Regarding the premises, GPCG have carried out a complete rewire of all the electrics. This included new energy efficient heaters, LED lighting, electric fire alarms and smoke detectors. There are also plans to improve disabled access to all areas of the site. 5 ## **PARK COMMUNITY GROUP** ## **MANAGEMENT COMMITTEE REPORT** ## **FOR THE YEAR ENDED 31 MARCH 2024** ## **FINANCIAL REVIEW** The results of the year’s operation are set out in the attached financial statements. The net movement in funds for the year amounted to deficit (£35,209) and deficit of (£1519) in 2023 respectively. The retained reserves at 31st March 2024 amounted to £57,376 and £92,585 in 2023 respectively. ## **RESERVE POLICY** The Charity Commission requires charities to determine and explain their policy for free reserves. The trustees have reviewed the organisation’s free reserves policy and have turned its entire unrestricted fund into an emergency reserve to enable GROVE PARK COMMUNITY GROUP to meet its obligations in the event of a shortfall in income or sudden upturn in expenditure or the dissolution of the charity. ## **RISK MANAGEMENT** The trustees have examined the major risks which GROVE PARK COMMUNITY GROUP faces and believe that maintaining their free reserves at a reasonable level, combined with their annual review of the controls over key financial systems will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks. ## **TANGIBLE FIXED ASSETS** The organisation has no fixed assets ## **FUNDS AVAILABLE** The present level of funding is adequate to support the continuation of the charity operations for the medium term, and the trustees consider the financial position of the charity to be satisfactory. ## **VOLUNTEERS** GROVE PARK COMMUNITY GROUP recognises the significant contributions made by the volunteers. 6 ## **PARK COMMUNITY GROUP** ## **STATEMENT OF TRUSTEES RESPONSIBILITIES** ## **FOR THE YEAR ENDED 31 MARCH 2024** The Trustees are required to prepare financial statements which give a true and fair view of the state of affairs of the project and of the income and expenditure of the project for that period. In preparing these financial statements, the management committee are required to: - select suitable accounting policies and apply them consistently; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is - inappropriate to presume that the project will continue in operation. The Trustees are responsible for keeping proper records which disclose at any time the financial position of the project. They are also responsible for safeguarding the assets of the organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 7 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GROVE PARK COMMUNITY GROUP ON THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144{2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the 2011 Act; to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act., and to state whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examiner's report In connection with my examinalion, no matter has come to my attention: which gives me reasonable cause to believe that in any material respect: The accounting records were not kept in accordance with the section 130 of the Charities Act., or The accounts did not accord with the accounting records; or The accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the account give a 'true and falr, which is not a matter considered as part of the independent examination. I have no concerns and have come across no other matter in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of this account to be reached. Signed.. A Adebambo, CPFA, MBA, CGMA, ACMA, ACG, London Accountancy Practice. Sojourner Truth Community Centre 161 Sumner Road London SE15 6JL Date . |**GROVE PARK COMMUNITY GROUP**||||| |---|---|---|---|---| |**STATEMENT OF FINANCIAL ACTIVITIES**||||| |**FOR THE YEAR ENDED31ST MARCH 2024**||||| ||||**2024**|**2023**| ||**Unrestricted**|**Restricted**|**Total **|**Total **| |**INCOMING RESOURCES**|**Fund**|**Fund**|**Fund**|**Fund**| ||**£**|**£**|**£**|**£**| |||||| |Incomefrom Activities|86,233|1,000|87,233|89,583| |||||| ||**86,233**|**1,000**|**87,233**|**89,583**| |||||| |**RESOURCES EXPENDED**||||| |||||| |Direct Costs|105,620|16,822|122,442|91,103| |||||| ||**105,620**|**16,822**|**122,442**|**91,103**| |||||| |NetIncomingResources|-19,387|-15,822|-35,209|1,519
-| |||||| |Balance Brought Forward|73,645|18,940|92,585|94,104| |||||| |**Balance Carried Forward**|**54,258**|**3,118**|**57,376**|**92,585**| |||||| 9 GROVE PARK COMMUNITY GROUP BALANCE SHEET AS AT 31 ST MARCH 2024 2024 2023 CURRENT ASSET Sundry Deblors Cash In Bank Cash 5264 $3.219 93 68,576 6,034 87,351 93,385 CURRENT LIA81UIIES Creditors arKI Accfuals 67,376 92,686 FUNDS OF THE CHARITY Unrestncted FuTrJs Restnded FwAts 54,258 3.118 67,376 73,645 18,940 I rw4y4e y Board ol kn a￿j sI9￿d on its behalf ppr by JOQ, k,. Trusteè Tnjslee 10 ## **GROVE PARK COMMUNITY GROUP** ## **NOTES TO THE ACCOUNTS** ## **1. ACCOUNTING POLICIES** ## **1.1 Basis of Preparation of Financial Statements** The financial statements are prepared under the historic cost convention and include the results of the charity’s operations which are described in the Management Committee’s Report and all of which are continuing. The accounts have been prepared in accordance with the Statements of Recommended Practice for charity accounts. The charity has taken advantage of the exemption of Financial Reporting Standard No 1 from the requirements to produce a cash flow statement on the grounds that it qualifies as a small charity ## 1.2 **Incoming Resources** - 1.2.1 Revenue grants are credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable, unless they relate to a specific future period, in which case they are included on the Balance Sheet as deferred income to be recognised in the future accounting period. - 1.2.2 Grants received for specific purposes are accounted for as restricted funds in the Statement of Financial Activities. ## 1.3 **Restricted Funds** Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with a fair allocation of management and support costs. ## 1.4 **Unrestricted Funds** Unrestricted funds are donations and other incomes received or generated for the objects of the organisation without further specified purpose and are available for general funds. ## 1.5 **Designated Funds** Designated funds are unrestricted funds earmarked by the Management Committee for particular purposes. ## **1.6 Tangible Fixed Assets** All expenditure that related to equipment has been charged to the Statement of Financial Activities in the year of acquisition. A register of assets is maintained. 11 2. CREDtroRS AND ACCRUALS 2024 2023 Accountancy fees Other. DepO￿ts 200 1200 8(X) GROVE PARK COMMUNITY GROUP Unr••lrkt•d R••trl¢t•d Totsl General Charitable GIMr¥J Sooal FarrThs Goun(frNoTk L(MMJon LoTrJon & Quadrart Watm welc(￿ 408 1588 408 1588 40 1445 1007 40 1445 1,007 4976 lOVEl￿NT IN FUNDS 202>2024 8•lanc• Incomlng R••ourc•• C•rrl•d R••ourc•• Exp•nd•d Forw•rd Gro￿ Park Ass Lorthn MaraltK¥n Lo￿n & Quadrant-E%pFts SKial FanT6 LorKJon Watm Wetorre Grart 2,433 14.015 1,007 40 1.445 2433 172 13,843 1.007 40 1,445 487 513 3118 12 ## **3.** |**3.**||||| |---|---|---|---|---| |**GROVE PARKCOMMUNITYGROUP**||||| |**DETAILED INCOME AND EXPENDITURE**||||| |**FOR THE YEAR ENDED 31ST MARCH 2024**||||| |||||| ||||**2024**|**2023**| ||**Unrestricted**|**Restricted**|**Total**|**Total**| ||**Fund**|**Fund**|**Fund**|**Fund**| |**INCOMING RESOURCES**|**£**|**£**|**£**|**£**| |||||| |Ringway Community Café|2,353||2,353|1,879| |Inpost|1,200||1,200|1,200| |Donations|45||45|530| |Letting Fees|58,457||58,457|63,464| |Community Events Projects|2,248||2,248|| |Clay at the Ringway Project|16,278||16,278|18,173| |Warm Welcome Grant||1,000|1,000|-| |GPCG Volunteer Led Projects|2,220||2,220|1670| |Charitable Giving|2,208||2,208|1628| |Community Toilet|150||150|300| |Bank Interest|1,074||1,074|281| |Fundraising||||459| |**Total Incoming Resources**|**86,233**|**1,000**|**87,233**|**89,583**| |||||| ||||**2024**|**2023**| ||**Unrestricted**|**Restricted**|**Total**|**Total**| ||**Fund**|**Fund**|**Fund**|**Fund**| |**RESOURCES EXPENDED**||||| ||**£**|**£**|**£**|**£**| |Clay at the Ringway Project|12,771||12,771|12,480| |Staff Costs|45,578||45,578|42,548| |Printing , Postage & Stationery|321||321|785| |Water rates, Heat,Light, Telephone & Insurance|31,534||31,534|17,914| |Repairs & Maintenance|4,386|13,843|18,229|4,290| |Repairs & Renewals Office equipment|688||688|998| |CCTV/Alarm|1,954||1,954|| |Community Events & Projects|2,169|2,979|5,148|3,349| |Licenses & Subscriptions|629||629|828| |Bank Charges|164||164|167| |Cleaning Materials Ringway site|1,448||1,448|1432| |Trade Refuse Ringway site|1,212||1,212|1146| |Publicity & Advertising|115||115|342| |Accountancy, Payro;; and Bookkeeping fees|2,054||2,054|4503| |Bad debt written off|284||284|| |Sundry|313||313|322| |||||| |**Total Resources Expended**|**105,620**|**16,822**|**122,442**|**91,103**| 13