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2021-03-31-accounts

WEST BILLERICAY COMMUNITY ASSOCIATION LTD

Charity No. 1055830

Company No. 03039228

Trustees' Report and Unaudited Accounts

31 March 2021

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Contents

Pages
Trustees' Annual Report 1
Independent Examiner's Report 2
Statement of Financial Activities 3
Summary Income and Expenditure Account 4
Balance Sheet 5
Statement of Cash flows 6
Notes to the Accounts 7
Detailed Statement of Financial Activities 8

Page 1

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Trustees Annual Report

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 03039228

Charity No. 1055830

Principal Office

Address Line 5

Registered Office

Rosebay Avenue Queens Park Billericay Essex CM12 0SY

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

D. Haigh D.L. Morgan M. Nye C.K.S. Webb

Key Management Personnel

KMP Name 1 KMP 2 KMP Name 2 KMP 3 KMP Name 3 KMP 4 KMP Name 4 KMP 5 KMP Name 5

Accountants

Douglas Charlton Accountants 127 Stock Road

Billericay Essex CM12 0RP

Bankers

Address Line 5

Page 2

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Trustees Annual Report

Solicitors

Address Line 5

Investment Advisors

Address Line 5

OBJECTIVES AND ACTIVITIES

The Company is a charity and exists to advance the education, and to provide facilities for, social, recreational and leisure time activities as defined in the Memorandum and Articles.

Sports include football (senior and junior), cricket, netball, badminton, table tennis and short mat bowls, The 3G STP (astroturf) is used extensively for football training and matches. An active dance school is based at the premises.

The various halls and rooms are hired out for events and parties on a regular basis.

ACHIEVEMENTS AND PERFORMANCE

A large charity must review its charitable activities undertaken, explaining performance achieved against objectives set ...

A large charity must include an explanation when material fundraising activities are undertaken, details of the performance achieved against fundraising objectives set ...

A large charity must provide an explanation when material investments are held, details of investment performance achieved against objectives set ...

A large charity must provide an explanation of any material expenditure occurred to raise income in the future...

A large charity must provide commentary on those significant positive and negative factors within and outside the charity's control which are relevant to the achievement of its objectives ...

FINANCIAL REVIEW

The activity for the year showed a surplus of £ 2,602. A provision of £ 82,206 has been carried forward in the balance sheet to meet anticipated expenditure.

PLANS FOR FUTURE PERIODS

WBCA has a programme of improvement projects which are carried out as funds become available through yearly surpluses if achieved.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Trustees constantly review any risks to the Community Centre at their monthly meetings. Specific areas include:

To maintain a conservative expenditure policy that holds sufficient cover to meet reasonable emergency requirements.

To have mechanical and electrical contracts in place to ensure proper maintenance of plant, equipment and allied fittings.

To ensure that we have proper insurance in place including Public and Employer's Liability To ensure that the terms and conditions of the lease with Basildon Borough Council are complied with. To give sufficient training to all staff to enable them to carry out their duties in a polite and efficient manner.

Page 3

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Trustees Annual Report

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

That the trustees are responsible for the maintenance and integrity of information included on the company's website .

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

M. Nye Trustee

30 November 2021

Page 4

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Independent Examiners Report

Independent Examiner's Report to the trustees of WEST BILLERICAY COMMUNITY ASSOCIATION LTD

I report to the charity trustees on my examination of the accounts of WEST BILLERICAY COMMUNITY ASSOCIATION LTD for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

M Douglas AFA Douglas Charlton Accountants 127 Stock Road Billericay Essex

CM12 0RP 30 November 2021

Page 5

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Statement of Financial Activities

for the year ended 31 March 2021

Notes
Income and endowments
from:
Charitable activities
4
Investments
5
Other
6
Total
Expenditure on:
Charitable activities
7
Other
8
Total
Net gains on investments
Net income/(expenditure)
9
Transfers between funds
Net income/(expenditure)
before other gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Unrestricted
funds
2021
£
60,788
350
71,388
Total funds
2021
£
60,788
350
71,388
Total funds
2020
£
210,285
459
4,875
132,526
122,522
1,888
132,526
122,522
1,888
215,619
213,744
2,456
124,410
-
124,410
-
216,200
-
8,116
-
8,116
-
(581)
-
8,116 8,116 (581)
8,116
116,435
8,116
116,435
(581)
117,016
124,551 124,551 116,435

Page 6

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Summary Income and Expenditure Account

for the year ended 31 March 2021

Income
Interest and investment income
Gross income for the year
Expenditure
Depreciation and charges for
impairment of fixed assets
Total expenditure for the year
Net income/(expenditure) before tax
for the year
Net income /(expenditure )for the year
2021
£
132,176
350
132,526
122,522
1,888
124,410
8,116
8,116
2020
£
215,160
459
215,619
213,744
2,456
216,200
(581)
(581)

Page 7

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Balance Sheet

at 31 March 2021

Company No.
03039228
Notes
2021
£
Fixed assets
Tangible assets
11
5,482
Investments
12
2
5,484
Current assets
Debtors
13
63,229
Cash at bank and in hand
135,405
198,634
Creditors:Amount falling due within one year
14
2,639
Net current assets
201,273
Total assets less current liabilities
206,757
Provisions for liabilities
15
(82,206)
Net assets excluding pension asset or liability
124,551
Total net assets
124,551
The funds of the charity
Restricted funds
16
Unrestricted funds
16
General funds
124,551
124,551
Reserves
16
Total funds
124,551
2020
£
7,370
2
7,372
59,949
139,293
199,242
(7,973)
191,269
198,641
(82,206)
116,435
116,435
116,435
116,435
116,435

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 30 November 2021

And signed on its behalf by:

M. Nye Trustee

30 November 2021

Page 8

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Statement of Cash flows

for the year ended 31 March 2021

Cash flows from operating activities
Net income/(expenditure) per Statement of Financial Activities
Adjustments for:
Depreciation of property, plant and equipment
Dividends, interest and rents from investments
(Increase)/Decrease in trade and other receivables
(Decrease)/Increase in trade and other payables
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Dividends, interest and rents from investments
Net cash from investing activities
Net cash from financing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Components of cash and cash equivalents
Cash and bank balances
2021
£
8,116
1,888
(71,738)
(3,280)
(10,612)
(75,626)
71,738
71,738
-
(3,888)
139,293
135,405
135,405
135,405
2020
£
(581)
2,456
(5,334)
9,983
3,077
9,601
5,334
5,334
-
14,935
124,358
139,293
139,293
139,293

Page 9

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Notes to the Accounts

for the year ended 31 March 2021

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 10

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Notes to the Accounts

Expenditure

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

useful life:
Plant and machinery 25% reducing balance
Fixtures, fittings and
equipment
25% reducing balance

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 11

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 12

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Notes to the Accounts

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Statement of Financial Activities - prior year

3
Statement of Financial Activities - prior year
Income and endowments from:
Charitable activities
Investments
Other
Total
Expenditure on:
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4
Income from charitable activities
Membership subscriptions
Indoor facilities
Outdoor facilities
5
Income from investments
Bank interest received
Unrestricted
£
117
13,419
47,252
60,788
Unrestricted
£
350
350
Unrestricted
funds
2020
£
210,285
459
4,875
215,619
213,744
2,456
216,200
(581)
(581)
(581)
117,016
116,435
Total
2021
£
117
13,419
47,252
60,788
Total
2021
£
350
350
Total funds
2020
£
210,285
459
4,875
215,619
213,744
2,456
216,200
(581)
(581)
(581)
117,016
116,435
Total
2020
£
1,695
84,283
124,307
210,285
Total
2020
£
459
459

Page 13

WEST BILLERICAY COMMUNITY ASSOCIATION LTD

Notes to the Accounts

6 Other income

Rental income
Grant income (COVID 19)
Other grant income
7
Expenditure on charitable activities
Expenditure on charitable
activities
Membership subscriptions
Indoor facilities
Governance costs
Accountancy and legal &
professional
8
Other expenditure
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
9
Net income/(expenditure) before transfers
This is stated after charging:
Depreciation of owned fixed assets
10 Staff costs
No employee received emoluments in excess of £60,000.
Unrestricted
£
-
68,245
3,143
71,388
Total
2021
£
-
68,245
3,143
71,388
Total
2020
£
4,875
-
-
4,875
Unrestricted
£
122,125
(1,454)
1,851
122,522
Unrestricted
£
1,888
1,888
2021
£
1,888
Total
2021
£
122,125
(1,454)
1,851
122,522
Total
2021
£
1,888
1,888
Total
2020
£
211,567
-
2,177
213,744
Total
2020
£
2,456
2,456
2020
£
2,456

Page 14

WEST BILLERICAY COMMUNITY ASSOCIATION LTD

Notes to the Accounts

11 Tangible fixed assets

Plant and
machinery
£
Cost or revaluation
At 1 April 2020
25,680
At 31 March 2021
25,680
Depreciation and
impairment
At 1 April 2020
19,586
Depreciation charge for the
year
1,569
At 31 March 2021
21,155
Net book values
At 31 March 2021
4,525
At 31 March 2020
6,094
12 Investments
Cost or revaluation
At 1 April 2020
At 31 March 2021
Net book values
At 31 March 2021
At 31 March 2020
Investment in Subsidiaries
The company has the following subsidiary undertakings:
Name of company
Country of
incorporation
(if not UK)
Class of
shares held
West Billericay Community
Services Limited
Ordinary
13 Debtors
Trade debtors
Other debtors
Prepayments and accrued income
Fixtures,
fittings and
equipment
£
-
-
-
-
-
-
-
% age of
shares held
%
100
2021
£
4,691
54,612
3,926
63,229
£
59,402
59,402
58,126
319
58,445
957
1,276
Investment
in
Subsidiaries
£
2
2
2
2
Capital and
reserves at
end of the
relevant
year
£
(38,929)
Total
£
85,082
85,082
77,712
1,888
79,600
5,482
7,370
Total
£
2
2
2
2
Profit/(loss
) for the
relevant
year
£
(1,530)
2020
£
8,733
46,998
4,218
59,949

Page 15

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Notes to the Accounts

14 Creditors:

14 Creditors:
amounts falling due within one year
Trade creditors
Other taxes and social security
Other creditors
Accruals and deferred income
2021
£
859
353
3,405
(7,256)
(2,639)
2020
£
7,696
(1,367)
2,489
(845)
7,973
15 Provisions
At 1 April 2020
At 31 March 2021
16 Movement in funds
Restricted funds:
Unrestricted funds:
General funds
Revaluation Reserves:
Total funds
17 Analysis of net assets between funds
Fixed assets
Investments
Net current assets
Creditors due in more than one year and
provisions
At 1 April
2020
116,435
116,435
Incoming
resources
(including
other
gains/losses
)
£
132,526
132,526
Other
provisions
£
82,206
82,206
Resources
expended
£
(124,410)
(124,410)
Unrestricted
funds
£
5,482
2
201,273
(82,206)
124,551
Total
£
82,206
82,206
At 31
March
2021
£
124,551
124,551
Total
£
5,482
2
201,273
(82,206)
124,551

Page 16

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Notes to the Accounts

18 Reconciliation of net debt

18 Reconciliation of net debt
Cash and cash equivalents
Net debt
At 1 April
2020
£
Cash flows
£
At 31
March
2021
£
139,293 (3,888) 135,405
139,293
139,293
(3,888)
(3,888)
135,405
135,405
19 Related party disclosures
Transactions with related parties
Name of related party
West Billericay Community Services Ltd
Description of relationship
between the parties
The company is a subsidiary
Amount due from/(to) the related party
Controlling party
2021
£
-
2020
£
46,998

Page 17

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Detailed Statement of Financial Activities

for the year ended 31 March 2021

Income and endowments from:
Charitable activities
Membership subscriptions
Indoor facilities
Outdoor facilities
Investments
Bank interest received
Other
Rental income
Grant income (COVID 19)
Other grant income
Total income and endowments
Expenditure on:
Charitable activities
Membership subscriptions
Indoor facilities
Governance costs
Accountancy and legal &
professional
Total of expenditure on charitable
activities
General administrative costs,
including depreciation and
amortisation
Depreciation of Plant and
machinery
Depreciation of Fixtures, fittings
and equipment
Depreciation of
Total of expenditure of other costs
Total expenditure
Net gains on investments
Unrestricted
funds
2021
£
117
13,419
47,252
60,788
350
350
-
68,245
3,143
71,388
132,526
122,125
(1,454)
120,671
1,851
1,851
122,522
1,569
-
319
1,888
1,888
124,410
-
Total funds
2021
£
117
13,419
47,252
60,788
350
350
-
68,245
3,143
71,388
132,526
122,125
(1,454)
120,671
1,851
1,851
122,522
1,569
-
319
1,888
1,888
124,410
-
Total funds
2020
£
1,695
84,283
124,307
210,285
459
459
4,875
-
-
4,875
215,619
211,567
-
211,567
2,177
2,177
213,744
2,031
-
425
2,456
2,456
216,200
-

Page 18

WEST BILLERICAY COMMUNITY ASSOCIATION LTD Detailed Statement of Financial Activities

Net income/(expenditure)
Net income/(expenditure) before
other gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
8,116
8,116
-
8,116
116,435
124,551
8,116
8,116
-
8,116
116,435
124,551
(581)
(581)
-
(581)
117,016
116,435

Page 19