FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/03/2021
MARCHWOOD COMMUNITY ASSOCIATION
REGISTERED CHARITY NUMBER 1049276
PREPARED BY:
Lynda McIntyre FICB, PM Dip
LJM Bookkeeping Services
88 Woodley Lane
Romsey
Hampshire SO51 7HX
LIST OF CONTENTS
-
3 Trustee’s Report
-
4 Independent Examiners Report
-
5 Balance Sheet
-
6 Profit and Loss (Income and Expenditure)
7-8 Notes to the Financial Statements for the
year ended 31 March 2021.
9 Statement of Financial Activities
2
Trustees Annual Report 2020 - 2021
This year has been extremely challenging as we have experienced a Worldwide pandemic. Coronavirus impacted our ability to run massively as it did with all business’s. We were forced to close for much of the year and had to implement many new procedures and risk assessments to keep everyone safe when we were able to re-open.
The periods of being able to open were short and it was very limiting what groups we could allow. Our manager continued to work and was able to apply for grants when they were made available, managed furloughed staf and keep groups and the building safe and maintained.
The building has sufered with the prolonged periods of closure. We have dealt with squirrel damage to the roof and electrical cables, and an invasion of other pests. All of which has been quite costly. It has also meant that we were unable to commit to spending our reserves on re-decoration of the Maple Hall, as we had hoped. It was quickly realised that the impact of the Pandemic would be far reaching as far as growing the business was concerned.
When we have been able to open many groups felt it was unsafe to return and some groups have even finished.
We look forward to the next financial year with hope and the desire to at least get back to where we were. The Government grants and furlough scheme have been invaluable and without them we would have been forced to potentially look at possible redundancies. We were fortunate that we have been able to ensure that our staf have continued to be paid with 100% of their wages.
3
MARCHWOOD COMMUNITY ASSOCIATION
INDEPENDENT EXAMINERS REPORT OF THE FINANCIAL STATEMENTS.
Report to the Trustees of Marchwood Community Association
(Marchwood) Village Hall)
I report on the accounts of the Trust for the year ended 31[st] March 2021, which are set out within the attached sheets.
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 procedures laid down in the general direction 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.
Independent Examiners Report
My examination has been carried out in accordance with the general directions given by the Charity Commission. As the 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 key personnel concerning any matters which may have arisen. The procedures undertaken do not provide 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.
This gives me reasonable cause to believe that in any material respect that the requirements to maintain accounting records in accordance with section 130 of the 2011 act, and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have now been met.
L J McIntyre - FICB, PM Dip
LJM Bookkeeping Services
4
MARCHWOOD COMMUNITY ASSOCIATION
Balance Sheet
| Balance | Sheet | Sheet | Sheet | ||||
|---|---|---|---|---|---|---|---|
| As at 31 | March | 2021 | 2021 | 2020 | |||
| £ | £ | ||||||
| Fixed Asset | Computer Equipment Cost | 1,858 | |||||
| 1,858 | |||||||
| Computer Equipment Depreciation | -1,858 | ||||||
| -1,858 | |||||||
| Fittings and Equipment |
30,313 | 29,853 | |||||
| Fittings and Equipment Depreciation | -29,392 | -28,932 | |||||
| Land and Buildings |
625,329 |
625,329 | |||||
| Land and Buildings Depreciation | -458,588 | ||||||
| -433,574 | |||||||
| 167,662 | 192,676 | ||||||
| Current Asset | Current Account | 2,608 | |||||
| 5,677 | |||||||
| Debtors Ledger | 83 | ||||||
| 1,868 | |||||||
| Petty Cash |
67 | ||||||
| 47 | |||||||
| Prepayments |
529 | ||||||
| 944 | |||||||
| Short Term Deposit Account |
53838 | ||||||
| 39,279 | |||||||
| 57,124 | |||||||
| 47,816 | |||||||
| Current Liabilities Accruals |
-2,172 | ||||||
| -1,364 | |||||||
| -2,172 | |||||||
| -1,364 | |||||||
| Debtors | Prepayments | 456 | |||||
| 0 | |||||||
| 456 | 0 | ||||||
| Net assets | 223,069 | ||||||
| 239,128 | |||||||
| £ | £ |
5
Owners Equity General Fund 282,306
282,631
Net loss -16,921 -24,343 Previous Year Profit -42,640 -18,835 239,128 223,069 Total funds 223,069 239,128
Approved by the Board of Trustees and signed on their behalf by……………………………………..
MARCHWOOD COMMUNITY ASSOCIATION
Profit And Loss Account For the year ended 31 March 2021
| 2021 | 2020 |
||
|---|---|---|---|
| £ | £ | ||
| Income | Afliation Fees | 140 | |
| 210 | Deposit Account Interest | 58 | |
| 128 | |||
| Fern Room | 42 | 402 | |
| Grants Received |
20,637 | 11,477 | |
| Maple Room - Room Hire | 3,149 | 23,763 | |
| MCA Fundraising |
0 | ||
| 1,202 | |||
| Oak Room - Room Hire |
12,385 | ||
| 10,075 | |||
| Other Income |
110 | ||
| 0 | |||
| Pine Room - Room Hire | 2,631 | ||
| 12,962 | |||
| 39,152 | |||
| 60,218 | |||
| Expenses | Advertising | -82 | -122 |
| Alarm System |
-367 | ||
| -128 | |||
| Audit and Accountancy | -976 | ||
| -1,195 | |||
| CCTV | 0 | -41 | |
| Cleaning and Consumables | -463 | ||
| -736 | |||
| Computer Costs | -120 | ||
| -65 |
6
| Donations and Subscriptions | 240 | ||||
|---|---|---|---|---|---|
| -10 | |||||
| Equipment Repairs and Renewals | -893 | ||||
| -4,341 | |||||
| Fire Equipment Service | -2,368 | ||||
| -594 | |||||
| Gas & Electricity |
-3,595 | ||||
| -6,934 | |||||
| Inland Revenue - Tax and NI | -391 | ||||
| -613 | |||||
| Insurance |
-2,098 | ||||
| -2,088 | |||||
| Internet | -346 | -391 | |||
| Legal fees | -370 | -740 | |||
| Licences | -524 | -449 | |||
| Lift | -254 | -917 | |||
| Pensions | -654 | -681 | |||
| Photocopier | -257 | -297 | |||
| Postage | -65 | ||||
| -65 | |||||
| Property Repairs |
-2,215 | ||||
| -15,191 | |||||
| Rubbish Collection | -283 | -707 | |||
| Salaries/Wages Net |
-13,458 | ||||
| -21,192 | |||||
| Stationery | -25 | -32 | |||
| Sundry | 77 | ||||
| 0 | |||||
| Telephone | -564 | -555 | |||
| Water | -551 | -1,001 | |||
| -30,599 | |||||
| -59,087 | |||||
| Disallowable Expenses | |||||
| 8,553 | |||||
| 1,131 | |||||
| Fixtures and Fittings Depreciation | -460 | ||||
| 460 | |||||
| Property Depreciation |
-25,014 | ||||
| -25,014 | |||||
| -25474 |
|||||
| -25474 | |||||
| Net Loss | -16921 | ||||
| -24343 |
7
MARCHWOOD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021.
The Financial Statements have been prepared in accordance with the requirements of the Statement of Recommended Practice for Charities, applicable accounting standards and the Charities Act 2011.
1. Accounting Convention
The Financial Statements have been prepared under the historical cost convention.
2. Accounting Basis
The charities income and expenditure is included on the accruals basis, i.e. in the period in which income is receivable with reasonable certainty or a liability is incurred. Expenditure includes irrecoverable VAT
3. Fixed Assets
All saleable assets costing more than £150 are capitalised. Tangible moveable property purchased by the Trust is included in the Balance Sheet at cost less depreciation. The trust has an inalienable right over the Village Hall but not the land on which it stands. These assets have been capitalised in accordance with FRS15 together with the fixture and fittings provided with the building, and the professional fees paid by the Association in connection with the construction.
4. Depreciation
Depreciation is provided at the annual rate calculated to write of the assets over their estimated useful life:
Fixtures, Fittings and Equipment 20%
Computer Equipment 33%
Leasehold Building – over the residue term of the lease.
5. Netting Off
As far as practically possible all fund raising income and expenditure is shown gross.
6. Designated Fund
The Trustees have designated the net book value of the Building and other Fixed Assets as a separate fund set aside for retention by the Charity in order to fulfil the Charities objects.
8
MARCHWOOD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
7. Pension Costs
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
8. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
9. Pension Contributions
| 9. Pension Contri | butions | 2021 | 2020 | |
|---|---|---|---|---|
| Pension Contributions | £654 | £681 | ||
| 10. Tangible Fixed Assets |
||||
| Long Leasehold | Fixtures | **Equipment ** | Total | |
| Cost | Properties | & Fittings | ||
| £ | £ | |||
| £ £ | ||||
| AT 31.03.2019 | 625329 |
30313 | 1858 | |
| 657500 | ||||
| Depreciation As 31.3.19 | 408560 | 28472 | 1858 | |
| 438890 | ||||
| Depreciation to 31.3.20 | 25014 | 460 | - | |
| 25474 | ||||
| Depreciation to 31.3.21 | 25014 | 460 | - | |
| 25474 | ||||
| NETT BOOK AMOUNTS | ||||
| AS AT 31.03.2020 | 166741 | 921 |
- | |
| 167662 |
9
11. Debtors and Prepayments
2021 2020 £ £
| Debtors and Prepayments | 612 | 2812 | ||
|---|---|---|---|---|
| Falling due within one year | ||||
| 12. Creditors and Accruals |
||||
| Creditors and Accruals | (2172) | (1364) | ||
| Falling due within one year | ||||
| STATEMENT OF FINANCIAL ACTIVITIES | ||||
| FOR THE YEAR ENDED 31.03.2021 | ||||
| 2021 | 2020 | |||
| Unrestricted | **Restricted ** | Total | Total | |
| Funds Funds | ||||
| £ | £ | £ | ||
| £ | ||||
| Incoming Resources | ||||
| Incoming resources generated from | ||||
| Funds and Charitable Activities | 39152 | 60218 | ||
| Outgoing Resources | ||||
| Outgoing resources from Funds and | ||||
| Charitable Activities | (56073) | |||
| (84561) |
10
Nett incoming for the year (16921) (24343)
Total Funds Brought Forward 282306
Funds Brought Forward (18835)
282631
(42641)
Total Funds to be Carried Forward 223069 239128
11