REGISTERED CHARITY NUMBER: 1059566
Report of the Trustees and
Financial Statements for the Year Ended 31 March 2023
for
Priory Community Association
Lewis Smith & Co. Chartered Certified Accountants The Old Doctor's House 74 Grange Road Dudley West Midlands DY1 2AW
Priory Community Association
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 7 |
| Detailed Statement of Financial Activities | 8 | to | 9 |
Priory Community Association
Report of the Trustees
for the Year Ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The purpose of the charity is to provide play-schemes, outings, Christmas/Halloween parties, training, youth projects, a pensioners club and community consultation.
The charity provides education/training, the prevention or relief of poverty, amateur sport, economic/community development/employment.
The charity helps children/young people, elderly/old people, people with disabilities, people of all ethnic backgrounds, the general public.
The charity delivers the above by providing buildings facilities, open spaces and acting as an umbrella and resource body.
Significant activities during the year
Community fun days Walking groups HAF provision Coffee mornings Educational support and mentoring Mental health workshops and training Christmas family activities Holiday clubs for local children
Public benefit
For the public benefit we provide facilities and resources for all of the local community, be they young or old people, people with disabilities and irrespective of their ethnic background.
FINANCIAL REVIEW
Financial position
During the year the charity had a net deficit of £4,300 (2022 - £1,345). This gave a carried forward surplus of £10,795 (2022 - £15,095). All of the funds held by the charity are classed as unrestricted funds.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1059566
Principal address
39 Gervase Drive Dudley West Midlands DY1 4AU
Page 1
Priory Community Association
Report of the Trustees
for the Year Ended 31 March 2023
Trustees
Mr R Bennett Mr S Stevens Mr M Stevens Mrs C Shakespeare Mrs J Stevens Mrs L Shakespeare Mr M Guy Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... Mrs J Stevens - Trustee
Page 2
Priory Community Association
Statement of Financial Activities for the Year Ended 31 March 2023
| 31.3.23 | 31.3.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 1,300 | 1 | |
| Charitable activities | |||
| Grant income | 22,000 | 5,045 | |
| Raising funds | 9,339 | 13,157 | |
| Other trading activities | 2 | 3,844 | - |
| Other income | - | 3,112 | |
| Total | 36,483 | 21,315 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Expenditure | 40,783 | 22,660 | |
| NET INCOME/(EXPENDITURE) | (4,300) | (1,345) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 15,095 | 16,440 | |
| TOTAL FUNDS CARRIED FORWARD | 10,795 | 15,095 |
The notes form part of these financial statements
Page 3
Priory Community Association
Balance Sheet
31 March 2023
| 31.3.23 | 31.3.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank and in hand | 10,795 | 15,095 | |
| NET CURRENT ASSETS | 10,795 | 15,095 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 10,795 | 15,095 | |
| NET ASSETS | 10,795 | 15,095 | |
| FUNDS | 5 | ||
| Unrestricted funds | 10,795 | 15,095 | |
| TOTAL FUNDS | 10,795 | 15,095 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr S Stevens - Trustee
............................................. Mr M Stevens - Trustee
............................................. Mrs J Stevens - Trustee
The notes form part of these financial statements
Page 4
Priory Community Association
Notes to the Financial Statements for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | |||
|---|---|---|---|
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Cafe and bar takings | 3,844 | - |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Page 5
continued...
Priory Community Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | ||
|---|---|---|---|---|
| Unrestricted | ||||
| fund | ||||
| £ | ||||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 1 | |||
| Charitable activities | ||||
| Grant income | 5,045 | |||
| Raising funds | 13,157 | |||
| Other income | 3,112 | |||
| Total | 21,315 | |||
| EXPENDITURE ON | ||||
| Charitable activities | ||||
| Expenditure | 22,660 | |||
| NET INCOME/(EXPENDITURE) | (1,345) | |||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 16,440 | |||
| TOTAL FUNDS CARRIED FORWARD | 15,095 | |||
| 5. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.4.22 | in funds | 31.3.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 15,095 | (4,300) | 10,795 | |
| TOTAL FUNDS | 15,095 | (4,300) | 10,795 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 36,483 | (40,783) | (4,300) | |
| TOTAL FUNDS | 36,483 | (40,783) | (4,300) |
Page 6
continued...
Priory Community Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
5. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.21 | in funds | 31.3.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 16,440 | (1,345) | 15,095 |
| TOTAL FUNDS | 16,440 | (1,345) | 15,095 |
| Comparative net movement in funds, included | in the above are as follows: | ||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 21,315 | (22,660) | (1,345) |
| TOTAL FUNDS | 21,315 | (22,660) | (1,345) |
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 7
Priory Community Association
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 March 2023 | ||
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 1,300 | 1 |
| Other trading activities | ||
| Cafe and bar takings | 3,844 | - |
| Charitable activities | ||
| Centre hire | 7,385 | 13,157 |
| Trip | 1,295 | - |
| Fundraising events | 659 | - |
| Grants | 22,000 | 5,045 |
| 31,339 | 18,202 | |
| Other income | ||
| Insurance receipts | - | 3,112 |
| Total incoming resources | 36,483 | 21,315 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 7,632 | - |
| Rates and water | 2,795 | 1,864 |
| Insurance | 515 | 2,364 |
| Light and heat | 3,270 | 3,413 |
| Telephone | 852 | 605 |
| Arts and craft stationery | 170 | 1,187 |
| Repairs and maintenance | 12,127 | 4,414 |
| Daytrips and activities | 1,530 | 2,680 |
| Licences | - | 314 |
| Transport and travel | - | 37 |
| Computer expenses | 80 | - |
| Volunteer expenses | - | 1,049 |
| Centre monitoring | 1,130 | 2,200 |
| Cleaning | 711 | 547 |
| Accountancy | 876 | - |
| Prizes | 25 | 11 |
| Bar, food & catering suppliers | 4,791 | 990 |
| Room hire and event costs | 553 | 985 |
| HAF expenses | 3,620 | - |
| Sundry expenses | 106 | - |
| 40,783 | 22,660 |
This page does not form part of the statutory financial statements
Page 8
Priory Community Association
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| Detailed Statement of Financial Activities for the Year Ended 31 March 2023 |
||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Total resources expended | 40,783 | 22,660 |
| Net expenditure | (4,300) | (1,345) |
This page does not form part of the statutory financial statements
Page 9