PILANDS WOOD COMMUNITY ASSOCIATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 REGISTERED CHARITY NUMBER: 1049953 PILANDS WOOD COMMUNITY ASSOCIATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 CnNTENrs Page Report of the Management Conmiittee Independent Examinerfs Report Statement of Financial Activities Balance Shext Nvt¢s ty the Ftnancial Statements 10-16 THE FOLLOWING PAGES ARE FOR MANAGEMENT PURPOSES ONLY: Detailed tncomc azld Expenditure Account 17 Page I PILANDS WOOD COMMUNrrY ASSOCIATION REPORT OF THE MAIYAGEMENf COMMITTEE FOR THF. YEAR F.NDED 31 MARCH 2021 The Management Commillee is pleased to pre8¢nt its annual Report and Financial Statements of thc harity for the year ended 31 March 2021. The Financial Ststcm￿tS havc b¢cn prep￿ed in accordance with the accounting policies out in note I to the Financial Statements and Comply with the ¢lwity's trust deed the Charities Act 2011 d AFGountsng and Rcportsng by Clwritjcs.. Staicmcnt of Rccommcnded Practice applicable to charities prepaTing their Financial Statement in accordance with the Financial Reportitt8 Standard appliiabl¢ in the UK and RLpublic of Ireland (PRS 102). REFERENCE AND ADMINISTK4TIVE INFORMATION PRINCIPAL OFFICE: Piljnds Wood CommuDity Associarion Pilands Wood Centre Chamberlayne Road Bursledon Hampshire 5019 9RH TRUSTEES: Th¢ Management Commit*e is a combination of officers elected from its members; a r¢prcsentative from each Pilands Wood Community A880cialion Section 8nd a rcprescntative of affiliated user group.8, as w¢ll gs representatives of local authoriti¢s and othcr community bodics. such as the local church, council officers and elected councillors from ihc ar¢u. The tsustees who scrved during the year are.. H Millar Jackie Bennett Marlis Wyatt Belinda Murray Chair Vice Chalr Secretary INDEPFNDF,NT EXAMINERS: Abraham & Dobell 230 Shirley Road Southampton S015 3HR Page 2 PILAKDS WOOD COMMUNITY ASSOCIATION REPORT OF THE MAIYAGEMENT COMMITTEE (CONTINUED) FOR THE YEAR EIWED 31 MARCH 2021 OBJF.CTTVKS AND ACTIVITIES FOR THE PUBLIC BENEFIT The association's objects and principal ￿tIvitIeS are.. To encourage those living in the area of benefit to use the centre as a st¢p up to learning skills. a springboard to employment, to develop social and interactivc skills and pursue hobbfies and interests. To obtain sufficient funds from lettings to meet the financial rcquirements to keep the building in good r¥p￿lI• pay staff to th¢ ¢¢ntr¢ and assist in tho fi￿d￿g of proj¢Gts. The main Areas of charitable a¢tivity ar¢: L¢tting of thc centr¢ to a day ccntre. groups and clubs. C¢ntre Aqslsted fundin8 of 8 play group. Lommunity Shop. Publlc ljeneflt Statement Our main activitics and who w¢ ty tt) help arc described abuvc. All of a¥tivities are undertaken to further our charitable PUTPO.ses for the public benefit. In shaping our objectives and planning our aciivitics, the Management Committee has considered the Charity Comtnission's guidance on public benefit inLluding the guidance 'Public Benefii: Running a Charity (PB2)'. ACHIEVEMENTS AND PERFORMANCES The impact of the COVID epidemic has adversely affected the charity's ability to provide the services within its aims and objc¢tiv¢s. For a significant amount of the period thc centre was closed in ornpliancc with gvv¢rnm¢nt l¢giblation. While it wab open the centre hostcd a community shop and regular hire8 including sports. day ¢cntrc and cornmunity groups. FINANCIAL REVIE The financial climate continiies to be challenging. especially with the uncertainty surrounding COVID-19. The association is. however. aware of the need to promote the centre lo the cornmunity and commercial users. Incom¢ frovn Icttings and other activities d¢crcas¢d thts year to £14.031, compared with £20,293 in 2020. Ov¢rdll illcome also decreased to £39.697, Gompar¢d to £51.228 in 2020. Expenditure in the year Lu 31 MarLh 2021 reduced ￿ £34,528 from £53,084 in the previous year. P&ge 3 PILAM)S WOOD cOM￿TuNITy ASSOCIATION REPORT OF THE MANAGEMENT COMMrrrEE (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 FINANCIAL REVIEW (COIYTINUED) The association ackllcved a surplus for the year cndcd 31 Mar¢h 2021 of £5,169 wmpared to a deficit of £(1.856) in the previous year. which was & signtfic8nt improvement. We continue to be gratefijl for those who supp)rt the centre at this time by way of grants and realise the importanee of their contribution to the centre. Prlnclple Fundlng Sources Th¢ fUnd￿S bvurL¢s for th¢ ¢lwAty are currently by way of ryt fimdinB and 400/0 Icttin8 income. As a rosult of incrcasing constraints on th¢ ¢Apcnditur¢ of lo¢al authoriti¢s, th¢ charity has to seek funding from a much broader group of ￿¥￿CleS and increase letting income. Investment Policy Asid¢ from retaining a prudenl amount in rcservcs cach yur. most of the charity's funds are to bc spcnt in the short-t¢rm 50 ther¢ ar¢ fcw funds for long-tern) investment. A review of investment policies is planned early in the new financial year. Reserves Pollcy and Golng Concern The Management Committee has examined the Charitys requirements for reserves in light of the main ri8k8 lo the organisation. It has esthblisbed a policy whereby the unrestricted funds not committed or inv¢st¢d in tangibl¢ fix¢d as5cts held by th¢ charity should be six months of th¢ ¢xp¢nditur¢. The Managemcnt Commitie¢ is of a view thal PiiaDd3 Wood Community Asso¢iation is a going Luncern. PLANS FOR Tr'UTURE PERJODS During the corning ye8r our aims are.. To recruit Trustces. To look at new ways of our income. To continu¢ to r¢cruit and train more volunteet3. To liaise with local training facilitators to access relevant committee and volunteer training. To involvc the Community m all aspects of the rLmlling of the Community Centre. To gain fimding. STRUC'fURE, GOVERNANCE AND MANAGEMENT Governing Document The observe the methods and principles in th¢ CJwiti¢8 SORP. make judgemenL8 and estimates that are reasonable and pr[￿ent. stal¢ wh¢thcr appliGabl¢ a¢countmg standard?? have been followed, 8ubj¢ct to any departures dis'Lloyod alld expluined in the FInunci￿ Statements. and Prepare the financial statements on a 20ing concern basis unless it iq inappmpriate to presume that the eh8Tity will continue in business. Page 6 PILANDS WOOD COM￿[uNITy ASSOCIATION REPORT OF THE MANAGEMENf COMMITTEE (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Thc tru8t¢es are responsible for maintaining proper accounting records which disclose. with reasonabl¢ aGcurdCy at any time, the financial p061tion of the charity and to enable them to ensuTC that the Financial Ststements comply with thc Charities Act 2011, the Charity (Accounts and Reports) Rebwlations 2008 and the provisions of th¢ trusi deed. They att also r¢5ponsiblc for saf¢gU￿d1ng thc assels of the ehanty and. hence, for taking re￿onable steps for the prevention and detection of fraud and other irregulariti¢8. Th¢ tru8t¢e8 arc re8pon8ibl¢ for thc maintcnan¢¢ and intsgrity of thc charity and financial iuforniation included on the charity's website in accordance with legiqlAtion in the United Kingdom governing th¢ pr¢paration and di&s¢Mi￿tion of Finan¢ial Ststmcnts. INDEPENDENT EK4MINERS We re-appointed Abraham & Dobell as the charity's indq)cndent examiners durtng the year and they have expressed thcir willingness to conlinuc in that capacity. Approved by the try$tees on 18 Aprll 2023 and slgned OD their behalf by= B MURRAY Page 7 INDFPENDENf EXAMINER'S REPORT TO THE TRUSTEES OF FOR THE YEAR ENDED 31 MARCH 2021 I report to th¢ truslccs on my ¢xamin*ion of lh¢ a¥Gounts of Pilan(Ls Wood Community A&sociatioT] for the year ended 31 Mar¢h 2021. RESPONSIBILITIES AND BASIS OF REPORT As the tsiistees of the charity you are r&y)nsible for the preparation of the accounts in accordance with the requir¢m¢nts of the Charities Act 2011 ('th¢ Act,). I rcport in r¢sp¢ct of my ¢xamination of the charity's accounts carried out under section 145 of the 2011 Act and in carying out my examination I have followed 211 the applicable Directions given by thc Charity Commi$sion under seLtion 145(SXb) vf thc Ac¢. IIYDEPENDENT EXAMINER'S STATEMENT T have completed my examination. I confirni thai no material rnatters have come to my attention in connectioll with the exatninalion giving m¢ cause to believe that in any material respect: accounting records w¢r¢ not kept in resp¢d of the chaTity as r¢quir¢d by section 130 of the Act. or the ￿Ount8 do not accord with tho8¢ ye￿rdS. or the accounts do not comply with the appli¢abl¢ requirements Concerning th¢ form and content of a¢Gounts sct out in the Charit1¢5 (AGrounts and Rqyort5) R¢gulation5 2008 oth¢r than any requirement that the accounts give a 'tNc and fair view, which is not a matter considered &$ part of an independent cxaminatio T have no concerns Rnd have com¢ across no other mattus in ¢onnection with the examination to which attention should be drawn in this report in order to enable a proper understandiog of the accounts to be reached. DAVtD J MANT FCA tNSTITUTE OF CHARTERED ACCOUNTANTS IN ENGLAND & WALES 210 Shtrlty Rogd south3￿Pton SOIS 3HR 18 Aprll 2023 PILANDS WOOD COMMUNITY ASSOCIATION Page 8 STATEMENT OF FINANCIAL AcfIviTIES FOR THE YEAR ENDED 31 ￿L￿RCH 2021 2021 Unrestricted Total Funds Funds 2020 Totgl Fund8 Notes INCOMF. Donations and legacies Chariiable gcrivineg 25,666 14,031 25,666 14.031 30,935 20.293 TOTAL INCOME 39.697 39.697 51,228 EXPEIYDITURE Charitable activittes 34,528 34,528 53,084 'I'OTAL EXPLDIDITURE 34,528 34,528 53.084 NET EXPEND1TURE￿ET MOVEMENT IN FUNDS FOR THE YEAR 5,169 5,169 (1.856) RECONCILIATION OF FUNDS Total funds brou8ht lonvard 4,351 4,351 6207 Total fimds caTTi￿ forward £9,520 £9,520 £4,351 The Statcmcnt of Finanilal Artivities includ¢s all gain8 and lo&w in the year. All income and expendillro derives froth continuin8 activitics. The notes on pages 10 to 16 fonn psrt ofihese Flnaneial Ststsments. Page 9 PtLAIYDS WOOD CoM￿lUN1Ty ASSOCIATIO BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 FIXED ASSETS Tansible fixed assets 213 602 TOTAL FIXED ASSETS 213 602 CURRENT ASSETS Debtors Cash at bank and in hand 12.5(K) 7,840 388 13,516 'I'o'rAL C'URRF.NT A&SFTS 20.340 13.904 LIABII,ITIES Creditors: Amounts falling due withi'n onc ycar 11,033 10.155 NET CURRENT ASSETS 9,307 3,749 NET ASSETS io £9.520 £4,351 THE FUNDS OF THE CHAIUTY Unrestricted income funds 9,520 4,351 TOTAL CIIARITY FUNDS £9,520 £4,351 Approved by the éruJlee¥ on 18 Aprll 2023 Ydud 518Ded on Ihetr beh￿rby. The noteg on PAge$ 10 to 16 forni part of thtse Winaneial Statement#. Page 10 PILAIYDS WOOD COmMUm￿ ￿oCIATION OTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES The principal accounting ptslicies are summarised below. The accounting policies have been applied consistently throughout the year and m the precedmg year. (&) BAsi8 of Preparation The Financial Statemenfs have b¢¢n prepared und¢r the historical cost convention. The Finxllcigl Staiemenlg have been prepared in accordance with Accounting and Repo￿"n8 by Clwities.. Stat¢m¢nt of R¢¢omm¢nded PrnGlirc applicablc to charili¢s pr¢paring th¢ir Financial Statements in 8¢cord8nce with the Financial Rcports"ng Stsndard applicable in the UK and R¢public of Ireland ffRS 102) - (Charitics SORP (FRS 102)). thc Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) and the Cbarlties Act 2011. The chanty ¢onstitut¢s a public b¢n¢fit ￿lIty &$ d¢fineAI by F'KS 102. I'he truste¢s Gonsider that th¢rc no mat¢n'al Un￿rtaIntieS about the charity's ability to colltinue as a 8oin8 con¢¢ryL The Financial Statements are prepared in Sterling? which is th¢ fim¢tional currency of the charity. Monetary amounts are rounded to the nearest £. Ib) Funds Stru¢tur¢ Unrcstrictcd fLmds are available for usc at th¢ discretii)n of the trustees in fitherance of the general objectives of the clwi'ty. Restricted fimds are subjcctcd to rt8trictions on thcir cxpenditure impoged by thc donor. (c) Ineome All inr0rn¢ 16 in¢lud¢d in th¢ Slat￿n¢￿t of Trinanrial AGtiviti¢5 wh¢n th¢ Fharily 15 Fntitl¢d to the income and the amount can be quantified with r¢&sonabl¢ accuracy. The following sp￿lfi¢ polices are applied to particular cat¢goriw of income: Donationb and l¢gaci¢s tsr¢ r¢rKiv¢d by way of grants and donativns and &r¢ included in in the Statement of Financial ActivitiC5 when rcceivablc. Grants, where entitlement is not cnnditional on the delivery of a gpecific pcrfonnance by the charity, are recognised when the charity becornes unconditionally entitled to the Donated services and faciliii&q are iDcluded at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in thes¢ Fir￿1ClaI Sta*m¢nts. tnvestment income is included when receivable. Page 11 PILANDS WOOD COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATE￿NTs (coiYrINUED) FOR THE YEAR ENDED 31 ￿l￿RcH 2021 ACCOUNTING POLICIES (CONTINUED) (d) Expendllure ExpenditUTe is recogmsed on an acenwl basis 88 a liability is incurred. Expenditure includes any VAT which ¢Bonot be recov¢r¢d and i¥ worted a8 part of th¢ ¢xpcndiiu to wlu'ch it relates.. Charitable expcnditurc compriscs thos¢ ¢03ts incurrcd by thc charity in the delivery of its aetivities and services for its bcneficiari¢s. It includcs both costs thill can b¢ allocated dircctly lo such activities and those costs. of an indireL't naiure necessary lo supw)rt them. Gov¢rnance ¢osts includ¢ th05c costs aS￿lat￿ with mKlin8 the ¢vnsti¢utsonal and statutory r¢quiremenLs of thc charity and include the Independent Examinels fees and costs linked to th¢ strategic nwM8¢menl of the chHrity. All costs arc allocated between the expendinwe Categories of the Statement of Financial Activitics on a basis (ksigned to refl￿t the use of the resource. C08ts rclatsng to a particular activity are allocated dir￿llY. others gre spportioned on qn appropriate basis. (e) Tangible Flxed Assets gnd Depreelatlon Fixed assets are stated at cosl less accumulatcd depreciation. The costs of minor addittons are not capitalised. Deprxiation is provided at rates calculated to write-off the cost of each asset over its expected useful life as follows: Fixtures & Fittin88 Offi¢c Equipm¢nt 25010 of Net Book Value 25 /0 of N¢t Book Value (fj Debtors Any amounts owing to the charity at 31 March in tespect of income 8r¢ shown as debtors, if and when they arisc. (g) Creditors Lreditors are rccognised where the charity has a present obligation Ksulting from a past event that will probably ￿￿ul1 in the transfer of funds to a third pgty and the amount due to settle the obligation CaD be mwured or estimated reliably. Ih) Financial Instrnments The charity only has financial assets and fin2nci21 liabilities of a kind that qualify as basie financial instnun¢nts. B￿1¢ financial iT￿tt￿nG￿ts are initially rccogmsed at tra￿saCtion value and subsequently me&sured at their settlement value. Page 12 PILANDS WOOD COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 DONATIONS AND LECACIES The following general grants were received for the centre acttvities during the year: 2021 Unre5trl¢led Total Funds 'vnds 2020 Totul Funds Hampshire County Council Eastleigh Borough Council HCC - Community h]vestment Fund 9,000 16,666 9,000 16,666 9,435 12,500 9,000 £25,666 £25.666 £30.935 In 2020 the donations and Icgaci¢s r¢c¢iv¢d of £30.935 wcr¢ unrcstricted. There wer¢ no donat¢d 8erYic¢s and f￿111t1¢S r¢c¢ivablc wlu'ch could bc quanlificd in the year (2020 - £nil). INCOME FROM CHARITABLE ACTIVITIES Thc following incomc w&8 generated during the year.. 2021 Unrestrl¢tod Tothl Funds Funds 2020 Tot41 Funds Lettings and other projects 14,031 14,031 20,293 £14.031 £14,031 £20.293 In 2020 the income from Charitable activitiC5 of £20,293 was WLr¢siri¢t¢d. Page 13 PILANDS WOOD COMMUNrrY ASSOCIATION IYOTES TO THE FINANCIAL STATEMEfqTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTNITIES 2021 Projects Tot*1 2020 Total Centre Staff cv¥ts Prcmiqcs and ccntre Events and othcr activities Support cos¢s Governancc costs 16.697 12,189 16,697 12,189 750 3.459 1.433 29.203 16,175 635 3.994 3,077 750 3.459 1.433 £33.778 £750 £34.528 £53,084 In 2020 the expenditure on clwitable activits'es of £53.084 was unrestricted. ANALYSIS OF SUPPORT AND GOVERNAI¥4CE COSTS The chariry identificq the costs of its support function by way of #pportionment. it then identifies th04e costs which rclatc to the govcrnancc function. The support costs and govcrnance costs are analysed as follow8: Cjeneral Total Basls of Support Gov¢rnaDce Funds Apportionment Depreciation Examiner's costs Gcnernl office costs 389 389 1,092 3,411 Usage Governance Usage 1,092 341 3,070 £3.459 £1,433 £4,892 Page 14 PILANDS WOOD COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENrs (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 STAFF COSTS AND NUMBERS 2021 2020 Salaries And Social Security costs £16.697 £29.203 The average weekly number of employees during the year was: No one earned more than £60.OCKI per year. TAIYGIBLE FIXED ASSETS Flitures & Offlce Pittings EquipmLknl Total As at l April 2020 Disposal% 435 31.099 31.534 (435) (30,720) (31,155) As at 31 March 2021 379 379 Depreelatlon Ag At l Apnl 2020 Charge for the y¢8r Eliminaied on disposal 410 30.522 30.932 25 364 389 (435) (30.720) (31.155) As at31 Ma￿h2o21 166 166 Net Book Values Aq at 31 March 2021 £213 £213 As at 31 March 2020 £25 £577 £602 PILANDS WOOD COMMUNrrY ASSOCIATION Page 15 NOTES TO THE FINANCIAL STATEMENTS (Co￿NUED) FOR THE YEAR EIWDED 31 MARCH 2021 DEBTORS 2021 2020 Other d¢bioTS Grants receivable 388 12,500 £12,5iJO £388 CREDITORS: Amounts f81]Ing due wlthln one year 2021 2020 AccDJals and other creditors £11.033 £10,155 10. ANALYSIS OF IYET ASSETS BETWEEN FUNDS Fund balances arc represcntcd by: 2021 Unrestrieted TotAI Fund8 Funds 2V20 Total Funds Tangibl¢ fixeAI asscts CurT¢nt assets Current liabilities 213 213 602 20,340 20.340 13,904 (11.033) (11.033} (10.155) Net ￿$￿ts at 31 March 2021 £9.520 £9.520 £4.351 P2g¢ 16 PILknYDS WOOD COMMUNITY ASSOCIATTON NOTES TO THE FINANCIAL STATEMENrs (coiYriiYuED) FOR THE YEAR EIWED 31 MARCH 2021 I I. ANALYSIS OF MOVEMENTS IN FUNDS AND FUND DETAILS At At 01.04.20 locome Expendlture 31.03.21 Unre8trl¢ted Funds General funds 4,351 39.697 34,528 9,520 Total Unrestrlcted Fundsrrotal Fund$ £4,351 £39,697 £34.528 £9.520 Unrestricted Funds compris¢ those funds which truste￿ ar¢ fr¢c to USC ID accordance with the charitable objects. Restricted Funds are fiJnd8 whith have been 8iveD for particular pury)oses and PTQj¢Cts. 12. TRUSTEES, REMU.YERATION Tn￿teeS r¢c¢iv¢d no rcmunerntioD in thc year (2020 - £nil). 13. RELATED PARTIES There were no related party transactio￿ (2020 - £nil). 14. TAXATION As a cbarity, Pil2n(ts Wood Community Agsociation is exempt from tsx on incom¢ and gains to the extent that th¢se are applA¢d to its charitabl¢ objccts. No ￿ rkwrgcs have ariscn in the charity.