WEST BILLERICAY COMMUNITY ASSOCIATION LTD
Charity No. 1055830
Company No. 03039228
Trustees' Report and Unaudited Accounts
31 March 2022
WEST BILLERICAY COMMUNITY ASSOCIATION LTD Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 3 | |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Summary Income and Expenditure Account | 6 | |
| Balance Sheet | 7 | |
| Notes to the Accounts | 8 to | 15 |
| Detailed Statement of Financial Activities | 16 to | 17 |
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 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 03039228
Charity No. 1055830
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
Accountants
Douglas Charlton Accountants 127 Stock Road Billericay Essex CM12 0RP
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.
Social activities include Yoga, Pilates,, Mother & baby fitness, Activitots, Over 50's exercise, Kung Fu, Dodgeball, Kazen Kai Karate, Slimming Club and Men's' exercise classes.
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.
FINANCIAL REVIEW
The activity for the year showed a deficit of £13,790 . A provision of £ 82,206 has been carried forward in the balance sheet to meet anticipated expenditure.
Page 2
WEST BILLERICAY COMMUNITY ASSOCIATION LTD
Trustees Annual Report
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.
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
16 December 2022
Page 3
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 financial statements of WEST BILLERICAY COMMUNITY ASSOCIATION LTD for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet 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 financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements 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 financial statements 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
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA.
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:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the Charities SORP (FRS 102).
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 financial statements to be reached.
A. McCappin FCCA ACCA Douglas Charlton Accountants 127 Stock Road Billericay Essex
CM12 0RP 16 December 2022
Page 4
WEST BILLERICAY COMMUNITY ASSOCIATION LTD Statement of Financial Activities
for the year ended 31 March 2022
| Notes Income and endowments from: Donations and legacies 4 Charitable activities 5 Investments 6 Other 7 Total Expenditure on: Charitable activities 8 Other 9 Total Net gains on investments Net (expenditure)/income 10 Transfers between funds Net (expenditure)/income 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 2022 £ 88,600 195,292 11 34,926 |
Total funds 2022 £ 88,600 195,292 11 34,926 |
Total funds 2021 £ - 60,788 350 71,388 |
|---|---|---|---|
| 318,829 330,016 2,603 |
318,829 330,016 2,603 |
132,526 122,522 1,888 |
|
| 332,619 - |
332,619 - |
124,410 - |
|
| (13,790) - |
(13,790) - |
8,116 - |
|
| (13,790) | (13,790) | 8,116 | |
| (13,790) 124,551 |
(13,790) 124,551 |
8,116 116,435 |
|
| 110,761 | 110,761 | 124,551 |
Page 5
WEST BILLERICAY COMMUNITY ASSOCIATION LTD Summary Income and Expenditure Account
for the year ended 31 March 2022
| 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 (expenditure)/income before tax for the year Net (expenditure )/income for the year |
2022 £ 318,818 11 318,829 331,249 1,370 332,619 (13,790) (13,790) |
2021 £ 132,176 350 |
|---|---|---|
| 132,526 | ||
| 122,522 1,888 |
||
| 124,410 | ||
| 8,116 | ||
| 8,116 |
Page 6
WEST BILLERICAY COMMUNITY ASSOCIATION LTD Balance Sheet
at 31 March 2022
| Company No. 03039228 Notes 2022 £ Fixed assets Tangible assets 12 4,112 Investments 13 2 4,114 Current assets Debtors 14 74,448 Cash at bank and in hand 154,836 229,284 Creditors:Amount falling due within one year 15 (40,431) Net current assets 188,853 Total assets less current liabilities 192,967 Provisions for liabilities 16 (82,206) Net assets excluding pension asset or liability 110,761 Total net assets 110,761 The funds of the charity Restricted funds 17 Unrestricted funds 17 General funds 110,761 110,761 Reserves 17 Total funds 110,761 |
2021 £ 5,482 2 |
|---|---|
| 5,484 63,229 135,405 |
|
| 198,634 2,639 |
|
| 201,273 206,757 (82,206) |
|
| 124,551 | |
| 124,551 | |
| 124,551 | |
| 124,551 | |
| 124,551 |
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 2022 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 16 December 2022
And signed on its behalf by:
M. Nye Trustee
16 December 2022
Page 7
WEST BILLERICAY COMMUNITY ASSOCIATION LTD Notes to the Accounts
for the year ended 31 March 2022
- 1 Accounting policies
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
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
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 8
WEST BILLERICAY COMMUNITY ASSOCIATION LTD Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
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 9
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 10
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 donations and legacies Donations 5 Income from charitable activities Membership subscriptions Indoor facilities Outdoor facilities |
Unrestricted £ 88,600 88,600 Unrestricted £ 2,155 57,680 135,457 195,292 |
Unrestricted funds 2021 £ 60,788 350 71,388 132,526 122,522 1,888 124,410 8,116 8,116 8,116 116,435 124,551 Total 2022 £ 88,600 88,600 Total 2022 £ 2,155 57,680 135,457 195,292 |
Total funds 2021 £ 60,788 350 71,388 |
| 132,526 122,522 1,888 |
|||
| 124,410 | |||
| 8,116 | |||
| 8,116 | |||
| 8,116 116,435 |
|||
| 124,551 | |||
| Total 2021 £ - |
|||
| - | |||
| Total 2021 £ 117 13,419 47,252 |
|||
| 60,788 |
Page 11
WEST BILLERICAY COMMUNITY ASSOCIATION LTD Notes to the Accounts
6 Income from investments
| Bank interest received 7 Other income Grant income (COVID 19) Other grant income 8 Expenditure on charitable activities Expenditure on charitable activities Provision of facilities costs Indoor facilities Governance costs Accountancy and legal & professional 9 Other expenditure Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets 10 Net (expenditure)/income before transfers This is stated after charging: Depreciation of owned fixed assets 11 Staff costs No employee received emoluments in excess of £60,000. |
Unrestricted £ 11 11 Unrestricted £ 34,926 - 34,926 |
Total 2022 £ 11 11 Total 2022 £ 34,926 - 34,926 |
Total 2021 £ 350 |
|---|---|---|---|
| 350 | |||
| Total 2021 £ 68,245 3,143 |
|||
| 71,388 | |||
| Unrestricted £ 328,329 - 1,687 330,016 Unrestricted £ 1,233 1,370 2,603 2022 £ 1,370 |
Total 2022 £ 328,329 - 1,687 330,016 Total 2022 £ 1,233 1,370 2,603 |
Total 2021 £ 122,125 (1,454) 1,851 |
|
| 122,522 | |||
| Total 2021 £ - 1,888 |
|||
| 1,888 | |||
| 2021 £ 1,888 |
Page 12
WEST BILLERICAY COMMUNITY ASSOCIATION LTD Notes to the Accounts
12 Tangible fixed assets
| Plant and machinery £ Cost or revaluation At 1 April 2021 25,680 At 31 March 2022 25,680 Depreciation and impairment At 1 April 2021 21,155 Depreciation charge for the year 1,131 At 31 March 2022 22,286 Net book values At 31 March 2022 3,394 At 31 March 2021 4,525 13 Investments Cost or revaluation At 1 April 2021 At 31 March 2022 Net book values At 31 March 2022 At 31 March 2021 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 14 Debtors Trade debtors Other debtors Prepayments and accrued income |
Fixtures, fittings and equipment £ - - - - - - - % age of shares held % 100 2022 £ 12,672 58,506 3,270 74,448 |
£ 59,402 59,402 58,445 239 58,684 718 957 Investment in Subsidiaries £ 2 2 2 2 Capital and reserves at end of the relevant year £ - |
Total £ 85,082 |
|---|---|---|---|
| 85,082 | |||
| 79,600 1,370 |
|||
| 80,970 | |||
| 4,112 | |||
| 5,482 | |||
| Total £ 2 |
|||
| 2 | |||
| 2 | |||
| 2 | |||
| Profit/(loss ) for the relevant year £ - 2021 £ 4,691 54,612 3,926 |
|||
| 63,229 |
Page 13
WEST BILLERICAY COMMUNITY ASSOCIATION LTD Notes to the Accounts
15 Creditors:
amounts falling due within one year
| Trade creditors Other taxes and social security Other creditors Accruals 16 Provisions At 1 April 2021 At 31 March 2022 17 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 18 Analysis of net assets between funds Fixed assets Investments Net current assets Creditors due in more than one year and provisions |
At 1 April 2021 124,551 124,551 |
2022 £ 33,798 (83) 6,717 (1) 40,431 Incoming resources (including other gains/losses ) £ 318,829 318,829 |
Other provisions £ 82,206 82,206 Resources expended £ (332,619) (332,619) Unrestricted funds £ 4,112 2 188,853 (82,206) 110,761 |
2021 £ 859 353 3,405 (7,256) |
|---|---|---|---|---|
| (2,639) | ||||
| Total £ 82,206 |
||||
| 82,206 | ||||
| At 31 March 2022 £ 110,761 |
||||
| 110,761 | ||||
| Total £ 4,112 2 188,853 (82,206) |
||||
| 110,761 |
Page 14
WEST BILLERICAY COMMUNITY ASSOCIATION LTD Notes to the Accounts
19 Reconciliation of net debt
| 19 Reconciliation of net debt | |||
|---|---|---|---|
| Cash and cash equivalents Net debt |
At 1 April 2021 £ |
Cash flows £ |
At 31 March 2022 £ |
| 135,405 | 19,431 | 154,836 | |
| 135,405 135,405 |
19,431 19,431 |
154,836 | |
| 154,836 | |||
| 20 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 |
2022 £ 58,506 |
2021 £ |
|
| 54,611 | |||
Page 15
WEST BILLERICAY COMMUNITY ASSOCIATION LTD Detailed Statement of Financial Activities
for the year ended 31 March 2022
| Income and endowments from: Donations and legacies Donations Charitable activities Membership subscriptions Indoor facilities Outdoor facilities Investments Bank interest received Other Grant income (COVID 19) Other grant income Total income and endowments Expenditure on: Charitable activities Provision of facilities costs Indoor facilities Governance costs Accountancy and legal & professional Total of expenditure on charitable activities Other expenditure General administrative costs, including depreciation and amortisation Depreciation of Plant and machinery Depreciation of Fixtures, fittings and equipment Depreciation of |
Unrestricted funds 2022 £ 88,600 88,600 2,155 57,680 135,457 195,292 11 11 34,926 - 34,926 318,829 328,329 - 328,329 1,687 1,687 330,016 1,233 1,233 1,131 - 239 |
Total funds 2022 £ 88,600 88,600 2,155 57,680 135,457 195,292 11 11 34,926 - 34,926 318,829 328,329 - 328,329 1,687 1,687 330,016 1,233 1,233 1,131 - 239 |
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 |
Page 16
WEST BILLERICAY COMMUNITY ASSOCIATION LTD Detailed Statement of Financial Activities
| WEST BILLERICAY COMMUNITY ASSOCIATION LTD Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
1,370 2,603 332,619 - (13,790) (13,790) - (13,790) 124,551 110,761 |
1,370 2,603 332,619 - (13,790) (13,790) - (13,790) 124,551 110,761 |
1,888 |
| 1,888 | |||
| 124,410 - |
|||
| 8,116 | |||
| 8,116 - |
|||
| 8,116 | |||
| 116,435 | |||
| 124,551 |
Page 17