Charity registration number 1055640 Company registration number 03160299 (EnglarEd and Wales) TP RILEY COMMUNITY ASSOCIATION LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
TP RILEY COMMUNITY ASSOCIATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ndrs L Emery Mrs B A Mulqueen M S Taylor r I S Yardley Secretary Mr& E C Boycott Charity number 1055640 Company number 03160299 Registered office Slan Ball Centre Abbotts Street Bloxwich Walsall Wesl Midlands WS3 3NI Auditor BK Plus Audit Limited Azzurri House Walsall Road Aldridge Walsall England WS9 ORB
TP RILEY COMMUNITY ASSOCIATION LIMITED CONTENTS Page Trustees, report Slalement of trustees, responsibilities Independent auditor's report Statemenl of financial activities 10 B31ance sheet 11 Statement of cash flows 12 Notes to the financial statements 13-23
TP RILEY COMMUNITY ASSOCIATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for Ihe year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charily's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Sialement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102) (effective 1 January 20191" Objectives and activities Blo>wich Community Partnership IBCP) is based in Bloxwich in the north of Walsall Metropolitan Borough being a Charitable Comp2ny Limited by Guarantee delivering from two centres in the local area. The charity works with the whole community-, all ages, abilities and needs. offering social activities, care, support, recreation81 ar)d learning opportunities. The charity was established to promote the benefit of the inhabitants of Bloxwich and ils neighbourhood wilhoul discrimination of sex, race, political or religious opinion, by working together with local statutory and voluntary organisations in a common effort to advance education and provide facilities in the interesls of Social welfare for recreation and leisure time, with the object of improving the conditions of life of the said inhabitants. The charity has been sewing the communities of Bloxwich and Blakenall for over 45 ye3rs. Our success is due to continually diversifying and developing our activities and services to meet the changing needs of the local community. The year 2023124 was the first full year post Covid, where services were able lo operate without reslrictions. Our Vision, Mission and Values continue to be the focus of our work and the needs of the community at the forefront of our work. Our Vision -'Bloxwich Community Partnership- Our Charity foryour Community, Our Mission To bring local people together, to support people of all ages to engage in learning, leisure and SOC131 activity and to encourage healthy lifesiyles and well being,. Our Values Our values are Ihe guiding principles for how we deliver our services to local people.. Pride in our ¢harily Pride in our community Pride in our users Pride in our staff Pride in our services BCP is govemed by a Board of Tru5teeslDirectors who are appointed annually at the Annual General Meeting held in the Autumn. Nominations to the board are limited lo residents or professionals of the are8 of benefit andl or users of the charity's facilities. The charity currently has a board of four members following the resignation of one long service Trustee during the year. Trusteesldirectors are encouraged to work actively for the benefit of the charity, bringing their own skills and experience in support of our vision, mission and values. The Chief Executive works alongside the Finance Director to manage and drive the business forward. The charity also employs administrative, supervisory and project staff lo maintain the smooth running of ils projects and Centres. The Partnership administr8tive base is at The St8n Ball Cenlre, Abbotts Street, Bloxwich. In addition to the charily's administralion, the Stan Ball Centre offers a range of social, learning and support opportunities for adults and provides high quality day care for adults with learning disabilities and older people with social care needs, including dementia. Blakenall Centre focuses our work with children and families and has two distinct areas - the Electric Palace, our centre for young people delivering alternative educalion, youth projects and youth club. The main part of the building houses Palace Play Shop Eat, our charity shop, tea rooms and inflatable play.
TP RILEY COMMUNITY ASSOCIATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and perforrnance The Charily's performance 15 summarised below= This year was another year of significant growth with income increasing by around 23°/o on the previous year. This is due lo an increase in the level of existing services and the development af new work. stan Ball This year has been a year of grobbih for the centre. Activities have grown and the centre is a busy vibrant place to be on a daily basis. Numbers on daycare have been stable throughout the year with new referrals being received weekly. The programme is continuing to operate at around 250 visits per week, up 25 10 on 2021122 figures and 400/0 higher than pre Covid levels. The day consists of 3 range of activities including arts and crafts, physical activity including dance, quizze5 and gami es, use of the outdoor space, gardening, cooking and general life ski115. Hol food and refreshments are avai18ble Ihroughoul the day with transport being available as part of the care package. Transport is provided by Walsall Community Transport. Daily coffee momings provide a ¢afe warm space for people lo meet in a social setting. Coffee momings take place every moming with around 20 people attending each day. Real friendships have been developed and the sessions have helped peoples confidence grow. Alongside this telephone befriending is cor)linuing for those people who are still reluctant lo come into centre or have heallh or mobility issues ihal prevent them from participating. Afternoon aGtivity sessions have been introduced this year enabling Sike minded people to come together around a theme or activity. Sessions include a WelSbeing Group. Book Club, Dementia Café, Bereavement Café, Craft, Quiz and Bingo sessions. 'Take a Chance Let's Dance, sessions have continued for our Adults with learning disabilities. This group have worked hard to learn a new skill and have achieved recognition for their work by achieving a number of fomial dance exams in tronl of an independent dance examiner. Dance and physical activity also form part of the Wellbeing Group with a focus on increasing activity levels and improving mobility. Individuals in our community can be supported by our Making Connections Walsall programme. The worker provides one to one practical support and advice that includes access to food banks, community activilies, crisis support funding and befriending. This work also sits alongside our Walsall Connected offer to the community helping the community lo access online council services. Palace Pla Sho Eat Palace Play Shop Eat is an important community resource and we are seeing more people coming into the cenlre who need help and support around cosl of living and food poverty. The Board have a clear strategic vision for the future of the centre, improving the community space, shop and play creating a modern hub within the community. During the year Play and Shop have reduced its opening hours. The play equipment is corning toward5 the end of its usable life and several repairs have been made during the year to keep the equipment safe and in operation. A lot of work behind the scenes has been going on to secure the long term future of Play with 8 vision lo improve the facilities In the next 12 months. We have a simi18r vision for the Shop and hope to improve ihe facilities and introduce general communily space to enable the centre to increase ils offer around community support, Walsall Connected services and access to cost of living support and Foodbank Vouchers.
TP RILEY COMMUNITY ASSOCIATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Electric Palace- Workin With Youn Working with young people has alway5 been important to the charity. Our Allemative Education provision continues to offer a nurtLJring environment, which builds lasting relationships with these hard to reach young people. The 2022-2023 cohort all left with Level 2 IGCSE grade 4 equivalents) in Personal Social Development. those who had been with us during Year 10 and Year 11 left us with bNo GCSE grade 4 equivalents, as well as Level 2 Food Hygiene for catering and a growth in confidence and an ability to take responsibility for their 2clions. This cohort of learners have had successful progression routes. one completing an Electrician apprenticeship, another completing beauty at Wolverhampton College and one of our male students is studying Childcare at Walsall College. Our current Year 11 cohort will all have a Level 2 IGCSE 41 qua5ification in Personal Social Effectiveness and all have post 16 progression idess or plans in place, with one being successful in her application to the Army, two have Walsall College places and another has secured employment. This year we have worked alongside New Leaf to trial hosting online English and Maths sessions. this is managed and contracted by New Leaf and staff ensure thal the young people have a space to log on access to a laptop, this approach has been praised and iecognised as an excellent example of joint up working for the success of the young people. All have signed up lo our POP wellbeing programme for further support from staff to bridge the gap between leaving in July and moving on in September. Our contract is secured until 2029, with an improved method of charging which ensures 8 higher income for the Charity. During the year we have been able Io grow the POP (Positive Outcomes Project) brand with the addition of general youth activities, youth clubs and oulreach work being added to the existing wellbeing project. The youth bus continues lo be Ljsed as a mobile outreach provision enabling staff to engage with young people in parks, green spaces and within the wider Community. In Ihe community youth antisocial behaviour and poor OLJlcomes for young people has been highlighted in the local and national press with the community unfairly labelled the worst eslale in Britain. As a result significant funding has been secured from Walsall Council and New Horizons Community Enterprise lo reinstate a youth team operating from the centre and lo reopen youth clubs. In January two fulltime workers joined the le8m and working with the existing team under the management of the Youth Manager. POP Youth vdas created in January and quickly became well established within the community. Engagement is high and attendance figure are growing. POP Wellbeing continues to deliver wellbeing support to young people aged 15-25 years through a network of youth hubs across the Borough with a fourth Hub opening in the next financial year. The Holiday Activities Fun IHAFI is a govemment scheme to deliver activities for children on free school meals during specific school holidays. We have been successful in securing the full allocation of sessions during Easter, Summer & Christmas. We filled our 20 spaces wilhin 1 week of. being able to book. It has enabled the youth team to purchase new equipment Ihat can be used for future projects and existing young people as well as giving children the opportunity lo experience activities they would not have the chance to. For example, a theatre trip, rock climbing, caving and archery. Workin In The Communit This year has seen the charity continue ils work across the Borough within the wider community. Walsall Connected is a co-produced project between ourselves and Walsall Council. The programme provides community access lo onliné council services at community cenlres and libraries across the Borough. As the lead voluntary sector provider we support partners lo have the skills and understanding to deliver the seriice within their community. This approach broadens the reach of services ensuring each community has an offer suitable lo meet their needs. 'Let's Chat, is a three way partnership between ourselves, Manor Farm Community Association and Walsall Community Transport. This Public Heallh funded project known officially as Thrive lakes a mobile unil into the heart of the community to provide wellbeing information and support across the Borough. This year the centre has become the Resilient Communities Lead for the North of Walsall, appointing a part time officer to lead this work. This project is around supporting and helping to develop smaller 'grassroots' voluntary sector groups and organisations within the North of Walsall (similar leads are funded to work on the South, East and Wesl of Walsall). This work enables us to share our learning on project delivery, bid writing and funding, organisation81 and financial management. By doing this we are helping lo build a more resilient voluntary sector creating belter outcomes for our communities.
TP RILEY COMMUNITY ASSOCIATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review The charity has operated successfully during the year in the furtherance of its principal activities and a summary of those activities is set out in the Statement of Financial Activities on page 4. There was a net increase in funds of £172,607 {2023 - £129,501) 11 is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees Considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout Ihe year. The trustees has assessed the major risks lo which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to Ihe Major risks. Risk Management The charity is conscious of the need for risk management and the need lo plan strategically for the Son9 term. The future of the charity depends on our ability to continue to atlract funds by providing a successful quality sepiice on behalf of our community. The organisation continues to diversify its activities by providing a range of services to users funded from a range of different sources. In addition, we are raising an income through directly delivered seNices and charitable giving. This income will be used when appropriate to help maintain services and improve facilities within our centres when funding is not available. The'charily also recognises the importance of ils staff, trustees and volunteers in the daily operation and management of ils work. Future Plans DurTng the year we have been working hard to secure funds to refurbish the Blakenall Centre. As we end the year we can confirn a funding package of £1,340,512 has been secured from a number of funders including Bloxwich Towns Fund Community Capital Programme, New Horizons Community Enterprise and Walsall Council with the Charity also investing £150,000 to the project. The project will see the sile Completely refurbished and redesigned during 2025 10 include a new youth base, charity shop with new community space and new children's soft play. This is an exciting opportunity for the charity and the local community. Structurej governance and management The charity is a company limited by guarantee and gained charitable status on 1 June 1996. The company's governing documents are the Memorandum and Articles of Association. The trustees, who are also the directors for the purpose of company law, and who serded during the year and up to the date of signature of the financial statements were". Mrs L Emery Mrs B A Mulqueen Miss R Mulqueen M S Taylor Mr I S Yardley {Resigned 26 September 20231 None of the trustees has any beneficial irllerest in the company. All of the trustees are members of the company and guarantee lo conlribute £1 in the evenl of a winding up. Auditor In accordance with the company's articles, a resolution proposing that BK Plus Audit Limited be reappointed as auditor of the company will be put at a General Meeting.
TP RILEY COMMUNITY ASSOCIATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees. report was Approved by the Board of Trustees. Mrs E C Boycott Secretary
TP RILEY COMMUNITY ASSOCIATION LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also the directors of TP Ri18y Community Association Limited for the purpose of company law, are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incorning resources and application of resources, induding the income and expendiiure, of the charitable company for Ihat year. In preparing these financial statements, the Irustees are required to= select suitable accounting policies and then apply them consistently., obseNe the methods and principles in the Charities SORP-, make judgements and estimates that are reasonable and prudent., slate whether applicable UK Accounting Slandards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume Ihat the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy al any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
TP RILEY COMMUNITY ASSOCIATION LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TP RILEY COMMUNITY ASSOCIATION LIMITED Opinion We have audited the financial statements of TP Riley Community Association Limited Ilhe 'charity'l for the year ended 31 March 2024 which compNse the slatement of financial activities. the ba12nce sheet, the slatemenl of cash flows and notes to the financial slatpments, including significant accounting policies. The financial repotting framework that has becn applied in their preparation is applicable law and United Kingdom Accounting Siand2rds, including Financial Reporting Standard 102 The Financffal Reporting Standard appliGable In the UK and Republic of Irelond (United Kingdom Generally Accepted Accounling PrJctice)- In our opinion. the financial slalernenls". give a true and fair view of the stale of the charitable CornpanY' affairs as at 31 March 2024 and of its incoming rp.sources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemalional Standards on Auditing {UKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs SpOnsIbl]it1es for Ihe audit of Ihe financi81 statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevanl lo our audit of the financial slalements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relaling to events or conditions that, individually or collectively. may cast significant doubt on the charity's ability to continue as a going concern for a period of al least tre1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibililies of Ihe Iruslees with respect to going concern are described in the relevant sections of this report. Other information The other informalioq comprises the information included in the annual report other than the financial slalemenls and our auditor's report thereon, The tru51ees are responsible for the other information contained within the dnnual report. Our opinion on the financial slalemenls does not cover the other information and we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the. financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated_ If we ioenlify such maierial inconsistencies or apparent fflalerial mi.£stalements, we are required lo determino whether this gives rise to a material misslalemenl in the financial stalemeils themselves. If, based on the work we hdve performed, we conclude that there is a material misslalement of this other information. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing lo report in respect of the following mallers in relation lo which the Charities (Accounts and Reports) Regulations 2008 require us to report lo you if, in our opinion-. the inforniation given in the financial statements is inconsistent in any material respect with the trustees, report., or sufficient accounting records h2ve not been kept. or the fin8ncial statements are not in agreemenl with the accounting records., or we have not received all the information and explanations we require for our audit.
TP RILEY COMMUNITY ASSOCIATION LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF TP RILEY COMMUNITY ASSOCIATION LIMITED Responsibilities of trustees As explained more fully in- the statement of trustees, responsibilities, the trustees, who are also the diredors of the charity for the purpose of company12w, are responsible for the preparation of the financial statements 2nd for being satlsfied that they give a true and fair view, and for such intemal control as the trustees delermine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial stalemenls, the tThstees are responsible for assessing the chanty's ability to continue as a going concern, disclosing, as applicablc, matters related lo going concern and using the going concern basis of accounting unless the trustees eilher intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial stalements as a whole are free from materi81 misstatement, whether due to fraud or error, and lo issue an audilols report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an auoit conoucted in accordance with ISAS (UK) will alw8ys delect a materi81 misstatement when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could re8sonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, 8re instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detect material misslatemenls in respect of irregularities, including fraud. The extent to which our procedures are capable of delecting irregularities, includlng fraud, is detailed below. From the preliminary stage of the audit, we ensure our understanding of the entity is up lo dale. This includes, bul is not limited to, current knowledge of their activities, the business and control environments, and their compliance with the applicable legal and regulatory frameworks. This information supports our risk identrficalion and the subsequent design of audit procedures lo mitigate those risks- ensuring that the audit evidence obtained is suffici&nt and appropriate to support our opinion. In response to the risks identified, specific to this entity, we designed procedures which included, but were not limited lo-. Enquiry of management and those charged with governance around actual and potential liligalion and claims- Reviewing minutes of meetings of those charged with governance, if available., Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable saws and regulations., Auditing the risk of manaoemenl override of controls, including through testing journal entries and other adjustments for 3pproprialeness, and evaluating the business rationale for significant transaclions outside the normal caurse or business. A further description of our responsibililies is available on the Financial Reporting Council's website at-. https'.11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.
TP RILEY COMMUNITY ASSOCIATION LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF TP RILEY COMMUNITY ASSOCIATION LIMITED Use of our report This report is rnade solely to the company's members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company's members those matters we afe 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 company and the company's members as a body, for our audit work, for this report, or for the opinions we have fomied. Chrlstopher Hesslon C.A. Senlor Statutory Auditor BK PlusAudlt Llmlted 1610% IL0& statutory Auditor l¥zzurri House Walsall Road Adridge Walsall England WS9 ORB
TP RILEY COMMUNITY ASSOCIATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Charitable activities Investments 1,526,616 11,245 160,416 1,687,032 11,245 1,138,727 1,256 234,081 1,372,808 1,256 Total income 1,537.861 160,416 1,698,277 1,139,983 234,081 1,374,064 Expenditure on- Raising funds Charitable activities 4,914 1.411,087 4,914 109,669 1,520,756 7,579 1,016,803 7,579 1,261,984 245,181 Total expenditure 1,416,001 109,669 1,525,670 1,024,382 245,181 1,269,563 Net income 121,860 50,747 172,607 115.601 {11.100) 104,501 Transfers beeen funds (11,100) 11,1QO Other recognised gains and losses- Revaluation of tangible fixed assets 25,000 25,000 Net movement in funds 121,860 50,747 172,607 104,501 25,000 129,501 Reconciliation of *unds: Fund balances at 1 April 2023 766,630 600,000 1,366.630 662,129 575,000 1,237,129 Fund balances at 31 March 2024 888,490 650,747 1,539,237 766,630 600,000 1,366,630 The statemenl of financial activities includes all gains and losses recognised in the year, All income and expenditure derive from continuing activities. 10
TP RILEY COMMUNITY ASSOCIATION LIMITED BALANCE SHEET ASAT31 MARCH2024 2024 2023 Notes Fixed assets Tangible assets 11 633,777 632,030 Current assets stocks Debtors Cash at bank and in hand 12 13 1,700 195,710 1,211,367 1.700 122,835 777.536 1,408.777 902,071 Creditor5: amounts falling due within one year 14 {503,317) {167,471) Net current assets 905,460 734,600 Total assets less current liabilities 1,539,237 1,366,630 Net assets excluding pension liability 1,539,237 1,366,630 The funds of the charity Restricted income funds Unrestricted funds 16 650,747 888.490 800,000 766.630 1.539.237 1,366,630 The company is entitled to the exemption from the audit requirernent contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024, although an audit has been carried out under section 144 of the Charities Act2011. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of ils financial slatements under the requirements of the Companies Act 2006. for the year in question in accordance with section 476. These financial statements have been prepared in accorddnce with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 16109 Izoi4 Trustee Company registration number 03160299 (England and Wales) 11
TP RILEY COMMUNITY ASSOCIATION LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 21 433,987 48,780 Investing activities Purchase of tangible fixed assets Investment income received {11,401) 11,245 (4,159) 1,256 Net cash used in investing activities 11561 (2,903) Net cash used in financing activities Net increase in cash and cash equivalents 433,831 45,877 Cash and cash equivalents at beginning of year 777.536 731,659 Cash and cash equivalents at end of year 1,211,367 777,536 12-
TP RILEY COMMUNITY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information TP Riley Cornmunity Association Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Stan Ball Centre Abbotts Street, Bloxwich, Walsall, Wesl Midlands, WS3 3AZ. 1.1 Accounting convention The financial staternents have been prepared in accordance with the charity's governing document, the Companies ALt 2006 and "Accounting and Reporting by Charities= Slatemenl of Recommended PraLtice applicable to charities preparinq their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {eifeclive 1 January 2019) The charity is a Public Benefit Entity as defined by FRS 102. The financial statement% are prepared in sterling, which is the functional currency of the charily. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Iruslees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Iruslees continue lo adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds 8re available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are sel out in the notes to the financial statements_ Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charily. 1.4 Income Income is recognised when the charity is leg211y entitled to it after any performance conditions have been mel, the amounts can be measured reliably, and it is probable Ihat income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the arnount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 13
TP RILEY COMMUNITY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third party, il is prob3ble that a transfer of economic bcnefils will be required in settlewienl, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support Costs involved in undertaking each activity. Direct costs attribulable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity dnd support costs which are not attribulabl2 to a single activily are apportioned bohveen those 8ctivilies on a basis consistent with the use of resources_ Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities, Where costs cannot be directly attributed lo particular activities they have been allocated on a basis consislent with the use of resources. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at headquarters. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost, nel of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost of assets less their residual values Dver their useful lives on the following bases., Freehold land and buildings Fixtures and fittings Computers Motor vehicles Not depreciated 200/0 reducing balance 20°/o Straight line 25.10 reducing balance The gain or loss arising Dn the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the a8et, and is recogniored in the statement of financial activities. 1.7 Impairment of fixed assets At each reporting end date, the charity reviews Ihe carryqng arnounts of ils tangible assets to determine whether there is any Indication that those assets have suffered an impairmeiyt loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the exlenl of the impairmenl oss {if any). 1.8 Stocks Stocks are slated al the lower of cost and eslimated selling price less costs to complete and sell_ Cost comprises direct materials and, where applicable. direct labour costs and those ovorhoads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and CDSts to be incurred in marketing, selling and distribution. 1.9 Cash and ¢a5h Èquivalents Cash and cash equivalent5 include cash in hand, deposits held al call with banks, other short-term liquid investments with original maturities of three months or less, and bank ovérdrafls. 14-
TP RILEY COMMUNITY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounting policies (Continued) 1.10 Financial instruments The chaiity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instrurnents Issues, of FRS 10210 all of its financial instruments. Financial instruments are recognised in the charity's ba12nce sheet when the charity becomes party lo the contractual pravisions of the instrument. Financial assets and liabilities are offset, with Ihe net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on a nel basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted al a market ralè of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at trar)saction price unless the arrangernenl conslitules a financing Iransaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequenlly carried at amortised cosl, using the effective interest r2te method. Trad8 creditors are obligations to pay for goods or sepiices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if paymenl is due within one year or less. If not, they are presented as non-current li8bililies. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the etteclive interest method. DereGognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's SeiceS are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of 2n employee or lo provide termination benefits. Change in accounting policy Presentation of Charitable Expenditure From 1 April 2023, we have revised the presentation of charitable expendiiure lo include support and governance costs within charitable activities, in line with updated Charities SOFiP requirements. This change improves transparency by allocating support and govemance costs across relevar,t aclivilies. -15-
TP RILEY COMMUNITY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critical accounting estimates and judgements In thé application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. 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 estimates and u'nderlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revisic)n affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Charitable activities 2024 2023 Government and public bodies Activities for generating funds Other charit8ble activities 857,315 34,003 795,714 686,462 49,951 636,395 1,687,032 1,372,808 Analysis by fund Unrestricted funds Restricted funds 1,526,616 1,138,727 160,416 234,081 1.687,032 1,372,808 Investments 2024 2023 Interest receivable 11.245 1,256 16
TP RILEY COMMUNITY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on raising funds Unrestricted Unrestricted funds funds 2024 2023 Fundraising and publicity Advertising Other fundraising costs 20 4.894 46g 7,110 4,914 7,579 17-
TP RILEY COMMUNITY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Mana9p.mÉnt and administrative expenses Salary custs Depreciation Premises costs Youth expenses Catering and refreshmenls Day care transport costs Day care - other costs Community event costs Big Lottery Awards for All 819 Latlery Friends for All SERCO expenditure Making Connections Public Health - Thrive Bus Youth Bus expenditure Co-op Dance Group Funding expenditure Palace Play Heritage Spark Project Qartnership Youth Project expenditure NHCE Funding expenditure Local Council - Holiday Activities Fund Local Council- Winter Support Fund Local Council- Resilient Communities Local Council- Wals811 Connected Local Council- Community Development Local Council - We Are Walsall Local Council - Walsall Connected IHUBI Local Council - POP Project 100,504 845,786 8,766 39,013 972 32,928 136,213 572 2,321 1,543 3,929 8,227 -106 90,030 8,589 114,178 247 40,193 156,831 1,893 4,967 9,340 184 116,106 567 681 479 51,936 1,042 11,826 21,325 1,387 2.969 125 406 437 16,755 34,201 6,771 570 1,289 267 14,005 385 18,885 1,511,491 407.698 Support and governance costs Managernent and administration expenses 9.265 535,426 318,860 1,520,756 1,261,984 Analysis by fund Unrestricted funds Restricted funds 1,411,087 1,016,803 109,669 245,181 1,520,756 1,261,984 Trustees None of the trustees (or 2ny persons connected with them) received any remuneration or benefits frorn the charity during the year. 18-
TP RILEY COMMUNITY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees The average monthly number of employees during the yearwas.. 2024 Number 2023 Nurnber Directors Salaried employees 36 33 Total 41 39 Employment costs 2024 2023 Wages and salaries 845,786 There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel There w&re no directors or trustees who received any remuneration or benefits from the charity throughout the period. 10 Taxation The charity is exempt from taxation on its activities becaLJse all its income is applieo for charitable purposes. 11 Tangible fixed assets Freehold land Fixtiires and and buildings fittings Computers Motor vehicles Total Cost or valuation At 1 April 2023 Additions 600,000 131,595 9,361 110,157 2,040 10,000 851,752 11,401 Al 31 March 2024 600,000 140,956 112,197 10,000 863,153 Depreciation and impairment At 1 April 2023 Depreciation charged in the year 108,515 6,487 104,039 2,460 7,167 708 219,721 9,655 At 31 March 2024 115,002 106,499 7,875 229,376 Carrying amount At 31 March 2024 600,000 25,954 5,698 2,125 633,777 Al 31 March 2023 600,000 23,079 6,118 2,833 632,030 19
TP RILEY COMMUNITY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Tangible fixed assots {Continued) Freehold property with a carrying amount of £600,000 was revalued in July 2023 by Fraser Wood (Midlands) Limited, independent valuers not connected with the charity. on the basis of market valLJe as at 31 March 2023. The valuation was based on recent market transactions on arm's length terms tor similar properties. This valuation is considered to be still relevant as at 31 March 2024. 12 Stocks 2024 2023 Raw materials and consumables 1,700 1,700 13 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 166,494 7,891 21,325 52,717 5.400 64,718 195,710 122,835 14 Creditors.. arnounts falling due within one year 2024 2023 Notes Deferred income Trade creditors other Greditors Accruals and deferred income 15 68,526 85,530 287,614 101,647 62,939 40,043 318 64.171 503,317 167,471 15 Deferred income 2024 2023 Arising from funding receivea in advance 68,526 62,939 Deferred income is included in the financial statements as follows.. -20-
TP RILEY COMMUNITY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Deferred income (Continued) 2024 2023 Deferred income is included within.. Current liabilities 68,526 62.939 Movements in the year.. Deferred income at 1 April 2023 Resources deferred in the year 62,939 5,587 72,852 19,913) Deferred income at 31 March 2024 68.526 62,939 16 Restricted funds The restricted funds of the charity comprise the unexpendp.d balances of donations and grants held on Irust subject to specific conditions by donors as to how they rnay be used. At 1 April 2023 Incoming resources Resources expended Transfers Gains and At 31 March losses 2024 600,000 160,416 1109,669) 650.747 Previous year: At 1 April 2022 Incoming resources Resources expended Transfers Gains and At 31 March losses 2023 575,000 234,081 1245,181) 11,100 25,000 600,000 17 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balanS of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 General funds 766,630 1,537,861 (1,416,001) 888,490 Previous year.. At 1 April 2022 Incoming resources Resources expended Transfers At 31 March 2023 General funds 662,129 1,139,983 {1,024,3821 111,100) 766,630 21
TP RILEY COMMUNITY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsl{liabilities) 33.777 854,713 600,000 50,747 633,777 905,460 888,490 650,747 1,539,237 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Tangible assets Current assetsl{liabililiosl 32,030 734.600 600,000 632,030 734,600 766,630 600,000 1,366.630 19 Operating lease commitments Lessee At the reporting end date the charity had outstanding commitments for future minimum lease payments under nOn-¢anlIable operating leases, which fall due as follows". 2024 2023 Within one year Between two and five years 2,048 2,048 5,121 4,609 7,169 20 Related party transactions There were no disclosable related party transactions durino the year (2023 - none). -22-
TP RILEY COMMUNITY ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Cash generated from operations 2024 2023 Surplus for the year 172,607 104,501 Adjustments for.. Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets {11,2451 9,655 11,256) 8,766 Movements in working capital: Ilncreasel in debtors Increaselldecreasel in creditors Increaselldecrease) in deferred income {72,8761 330,259 5.587 (34,2311 (19,0871 (9,9131 Cash generated from operations 433,987 48,780 22 Analysis of changes in net funds The charity had no material debt during the year. -23-