Company registration number: 3271251 Charity registration number: 1060435
Eldene (Swindon) Community Association Ltd
(A company limited by share capital)
Annual Report and Financial Statements
for the Year Ended 31 March 2021
Eldene (Swindon) Community Association Ltd
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustee's Report | 2 |
| Statement of Trustee's Responsibilities | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 16 |
Eldene (Swindon) Community Association Ltd
Reference and Administrative Details
Trustee James Martin Bennett Registered Office Eldene Community Centre Eldene Swindon Wiltshire SN3 3RZ Company Registration Number 3271251 Charity Registration Number 1060435
Page 1
Eldene (Swindon) Community Association Ltd
Trustee's Report
The trustee, who is also a director for the purposes of company law, presents the annual report together with the financial statements of the charitable company for the year ended 31 March 2021.
Objectives and activities
Objectives, strategies and activities
The principal activity of the company is the operation of the Eldene Community Centre, Swindon.
The Association's objectives are to provide a centre for the local inhabitants of Eldene and the neighbourhood without distinction of sex, sexual orientation or race, and a political, religious or the opinions, by association together the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interest of the social welfare for the recreation and leisuretime with the object of improving the conditions of life the said inhabitant.
The charity is largely financially dependent on Eldene (Swindon) CA Trading Limited with £7560 of the income for the year being receivable from this entity. Eldene (Swindon) CA Trading Limited is related by common control.
There have been significant changes to the operations of the company during the year due to Covid- 19 outbrake but it is considered that the company will continue to fulfil it's obligations in relation to the community.
Public benefit
The trustee confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Structure, governance and management
Organisational structure
The charity is run by a committee, comprising the trustees and company secretary. The trustees include a chairperson and treasurer.
The trustees are appointed by votes or by Ordinary Resolution at Annual General Meetings.
Major risks and management of those risks
Reserves and risk assessment
The committee are responsible for reviewing the financial requirements of the charity. The charity has retained reserves which would cover overheads for approximately twelve months if income was to cease.
The committee has assessed the risks affecting the charity. Systems are in place to mitigate those risks.
The annual report was approved by the member of the charity on 29 October 2021 and signed on its behalf by:
......................................... James Martin Bennett Trustee
Page 2
Eldene (Swindon) Community Association Ltd
Statement of Trustee's Responsibilities
The trustee (who is also the director of Eldene (Swindon) Community Association Ltd for the purposes of company law) is responsible for preparing the trustee's report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the member to prepare financial statements for each financial year. Under company law the member must not approve the financial statements unless satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the member is required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The member is responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the member of the charity on 29 October 2021 and signed on its behalf by:
......................................... James Martin Bennett Trustee
Page 3
Eldene (Swindon) Community Association Ltd
Independent Examiner's Report to the trustee of Eldene (Swindon) Community Association Ltd
I report to the charity trustee on my examination of the accounts of the charity for the year ended 31 March 2021 which are set out on pages 5 to 16.
Respective responsibilities of trustee and examiner
As the charity’s trustee of Eldene (Swindon) Community Association Ltd (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 Eldene (Swindon) Community Association Ltd 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of Eldene (Swindon) Community Association Ltd as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (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 accounts to be reached.
Chris Pittock- Senior Partner
...................................... Hinton Abbott Accountants
21 October 2021
Page 4
Eldene (Swindon) Community Association Ltd
Statement of Financial Activities for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Interest Income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 15 Note Income and Endowments from: Charitable activities 4 Interest Income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 15 |
Unrestricted £ 27,319 19,991 1 47,311 (26,418) (26,418) 20,893 20,893 29,261 50,154 Unrestricted £ 29,635 3 29,638 (27,778) (27,778) 1,860 1,860 27,401 29,261 |
Total 2021 £ 27,319 19,991 1 |
|---|---|---|
| 47,311 | ||
| (26,418) | ||
| (26,418) | ||
| 20,893 | ||
| 20,893 29,261 |
||
| 50,154 | ||
| Total 2020 £ 29,635 3 |
||
| 29,638 | ||
| (27,778) | ||
| (27,778) | ||
| 1,860 | ||
| 1,860 27,401 |
||
| 29,261 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 15.
The notes on pages 7 to 16 form an integral part of these financial statements. Page 5
Eldene (Swindon) Community Association Ltd
(Registration number: 3271251) Balance Sheet as at 31 March 2021
| Note Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand 13 Creditors: Amounts falling due within one year 14 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 15 |
2021 £ 638 40,719 13,143 53,862 (4,346) 49,516 50,154 50,154 50,154 |
2020 £ 1,778 29,083 7,384 |
|---|---|---|
| 36,467 (8,984) |
||
| 27,483 | ||
| 29,261 | ||
| 29,261 | ||
| 29,261 |
For the financial year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 5 to 16 were approved, and authorised for issue on 29 October 2021 and signed by:
.........................................
James Martin Bennett Trustee
The notes on pages 7 to 16 form an integral part of these financial statements. Page 6
Eldene (Swindon) Community Association Ltd
Notes to the Financial Statements for the Year Ended 31 March 2021
1 Charity status
The charity is limited by share capital, incorporated in .
The address of its registered office is: Eldene Community Centre Eldene Swindon Wiltshire SN3 3RZ
These financial statements were authorised for issue by the trustee on 29 October 2021.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Eldene (Swindon) Community Association Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustee consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
Incoming resources are reported gross and are recognised when receivable.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Page 7
Eldene (Swindon) Community Association Ltd
Notes to the Financial Statements for the Year Ended 31 March 2021
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustee’s meetings and reimbursed expenses.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Plant and Machinery 25% Straight Line Basis Office Equipment 20% Straight Line Basis
Page 8
Eldene (Swindon) Community Association Ltd
Notes to the Financial Statements for the Year Ended 31 March 2021
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity.
3 Income from donations and legacies
| Grants, including capital grants; Government grants Grants from local authorities Other income from donations and legacies Total for 2021 |
Unrestricted funds General £ 2,878 23,099 1,342 27,319 |
Total funds £ 2,878 23,099 1,342 |
|---|---|---|
| 27,319 |
Page 9
Eldene (Swindon) Community Association Ltd
Notes to the Financial Statements for the Year Ended 31 March 2021
4 Income from charitable activities
| Provision of facilities Total for 2021 Total for 2020 5 Investment income Interest receivable on bank deposits Total for 2021 Total for 2020 6 Expenditure on charitable activities Note Provision of facilities Governance costs 7 Total for 2021 Total for 2020 |
Unrestricted funds General £ 19,991 19,991 29,635 Unrestricted funds General £ 1 1 3 Unrestricted funds General £ 12,373 14,045 26,418 27,778 |
Total funds £ 19,991 |
|---|---|---|
| 19,991 | ||
| 29,635 | ||
| Total funds £ 1 |
||
| 1 | ||
| 3 | ||
| Total funds £ 12,373 14,045 |
||
| 26,418 | ||
| 27,778 |
In addition to the expenditure analysed above, there are also governance costs of £14,045 (2020 - £13,048) which relate directly to charitable activities. See note 7 for further details.
Page 10
Eldene (Swindon) Community Association Ltd
Notes to the Financial Statements for the Year Ended 31 March 2021
7 Analysis of governance and support costs
Governance costs
| Staff costs Wages and salaries Fees paid to independent examiner Legal fees Depreciation, amortisation and other similar costs Other governance costs Total for 2021 Total for 2020 8 Net incoming/outgoing resources Net incoming resources for the year include: Depreciation of fixed assets 9 Staff costs The aggregate payroll costs were as follows: Staff costs during the year were: Wages and salaries |
Unrestricted funds General £ 9,481 912 347 1,141 2,164 14,045 13,047 2021 £ 1,141 2021 £ 9,481 |
Total funds £ 9,481 912 347 1,141 2,164 |
|---|---|---|
| 14,045 | ||
| 13,047 | ||
| 2020 £ 1,445 |
||
| 2020 £ 8,495 |
The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:
| Administration and support | 2021 No 2 |
2020 No 2 |
|---|---|---|
No employee received emoluments of more than £60,000 during the year.
Page 11
Eldene (Swindon) Community Association Ltd
Notes to the Financial Statements for the Year Ended 31 March 2021
10 Taxation
The charity is a registered charity and is therefore exempt from taxation.
11 Tangible fixed assets
| Cost At 1 April 2020 At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 12 Debtors Trade debtors Prepayments Other debtors 13 Cash and cash equivalents Cash on hand Cash at bank |
Furniture and equipment £ 44,644 44,644 42,866 1,140 44,006 638 1,778 2021 £ 7,560 419 32,740 40,719 2021 £ 158 12,985 13,143 |
Furniture and equipment £ 44,644 44,644 42,866 1,140 44,006 638 1,778 2021 £ 7,560 419 32,740 40,719 2021 £ 158 12,985 13,143 |
Total £ 44,644 44,644 42,866 1,140 44,006 638 1,778 2020 £ - 2,550 26,533 |
|
|---|---|---|---|---|
| 44,644 | ||||
| 42,866 1,140 |
||||
| 44,006 | ||||
| 638 | ||||
| 1,778 | ||||
| 2021 £ 7,560 419 32,740 40,719 2021 £ 158 12,985 13,143 |
||||
| 29,083 | ||||
| 2020 £ 941 6,443 |
||||
| 7,384 |
Page 12
Eldene (Swindon) Community Association Ltd
Notes to the Financial Statements for the Year Ended 31 March 2021
14 Creditors: amounts falling due within one year
| 14 Creditors: amounts falling due within one year | ||
|---|---|---|
| Trade creditors Other taxation and social security Other creditors Accruals |
2021 £ 986 196 (1) 3,165 4,346 |
2020 £ 4,805 560 748 2,871 |
| 8,984 |
Page 13
Eldene (Swindon) Community Association Ltd
Notes to the Financial Statements for the Year Ended 31 March 2021
15 Funds
| 15 Funds | |||
|---|---|---|---|
| Balance at 1 April 2020 £ Unrestricted funds General 29,261 Balance at 1 April 2019 £ Unrestricted funds General 27,401 16 Analysis of net assets between funds Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets 17 Analysis of net funds Cash at bank and in hand Net debt |
Incoming resources £ 47,311 Incoming resources £ 29,638 At 1 April 2020 £ 7,384 7,384 |
Resources expended £ (26,418) Resources expended £ (27,778) Unrestricted funds General £ 638 53,862 (4,346) 50,154 Unrestricted funds General £ 1,778 36,467 (8,984) 29,261 Financing cash flows £ 5,759 5,759 |
Balance at 31 March 2021 £ 50,154 |
| Balance at 31 March 2020 £ 29,261 |
|||
| Total funds at 31 March 2021 £ 638 53,862 (4,346) |
|||
| 50,154 | |||
| Total funds at 31 March 2020 £ 1,778 36,467 (8,984) |
|||
| 29,261 | |||
| At 31 March 2021 £ 13,143 13,143 |
Page 14
Eldene (Swindon) Community Association Ltd
Notes to the Financial Statements for the Year Ended 31 March 2021
| Cash at bank and in hand Net debt |
At 1 April 2019 £ 6,670 6,670 |
Financing cash flows £ 714 714 |
At 31 March 2020 £ 7,384 |
|---|---|---|---|
| 7,384 |
Page 15
Eldene (Swindon) Community Association Ltd
Notes to the Financial Statements for the Year Ended 31 March 2021
18 Related party transactions
During the year the charity made the following related party transactions:
Eldene (Swindon) CA Trading Limited
(During the year the company charged rent of £7560 to Eldene (Swindon) CA Trading Limited (2020: 7,560).
An amount of £32,529 ( 2020: £26,325) owed to the company by Eldene (Swindon) CA Trading Limited is included in other debtors.
Eldene ( Swindon) CA Trading Limited's principal activity is the operation of the bar and function trading activities of the Eldene Community Centre, Swindon. It's turnover for the year ended 31st March 2021 totaled £49,681 ( 2020: £184,559), and it's net loss before tax for the year was £9,705 ( 2020: £7,227 profit).) At the balance sheet date the amount due from Eldene (Swindon) CA Trading Limited was £32,529 (2020 - £26,325).
Page 16
Eldene (Swindon) Community Association Ltd
Detailed Statement of Financial Activities for the Year Ended 31 March 2021
| Income and Endowments from: Donations and legacies (analysed below) Charitable activities (analysed below) Investment income (analysed below) Total income Expenditure on: Charitable activities (analysed below) Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2021 £ 27,319 19,991 1 47,311 (26,418) (26,418) 20,893 20,893 29,261 50,154 |
Total 2020 £ - 29,635 3 |
|---|---|---|
| 29,638 | ||
| (27,778) | ||
| (27,778) | ||
| 1,860 | ||
| 1,860 27,401 |
||
| 29,261 |
This page does not form part of the statutory financial statements. Page 17
Eldene (Swindon) Community Association Ltd
Detailed Statement of Financial Activities for the Year Ended 31 March 2021
| Donations and legacies UK Government grants Other income Grants receivable Charitable activities Rent receivable from associated company User Group Income Membership contributions received Deffered membership from previous year Investment income Interest on cash deposits Charitable activities Direct costs Water rates Light, heat and power Insurance Repairs and maintenance Wages and salaries Office expenses Printing, postage and stationery Accountancy fees Legal and professional fees Depreciation of plant and machinery Depreciation of office equipment |
Total 2021 £ 2,878 1,342 23,099 27,319 7,560 12,431 - - 19,991 1 1 1,936 1,553 6,967 1,606 311 9,481 2,155 9 912 347 211 930 26,418 |
Total 2020 £ - - - |
|---|---|---|
| - | ||
| 7,560 20,431 1,040 604 |
||
| 29,635 | ||
| 3 | ||
| 3 | ||
| 2,350 1,347 9,453 1,377 204 8,495 1,886 5 900 316 211 1,234 |
||
| 27,778 |
This page does not form part of the statutory financial statements. Page 18