BELURE: Registered charity number: 1066693 The Wick Community Association Annual Report and Accounts 31 March 2025 Collins and Co 28/30 The Broadway Wickford Essex SS11 7AA The Wick Community Association Contents for the year ended 31 March 2025 Information Report of the General Committee Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts Page 3 4 - 5 6 7 8 9-10 The Wick Community Association Information for the year ended 31 March 2025 General Committee: Miss L Brooker (Secretary) Mr P Campbell (Treasurer from 18/10/24) Mrs C Dowers resigned 18/10/24 Mr i Dowers (Treasurer) rosigned 18/10/24 Mr L Halls Mr R Rudd Ms B Shaw Ms J Simpkins Mr I Brosnan 18/10/24 Registered Number: 1066693 Registered Address: Wick Community Centre Silva Island Way Wickford Essex SS12 9NR Independent Examiner: Collins and Co 28/30 The Broadway Wickford Essex SS 11 7AA Bankers: Barclays Bank Plc Leicester LE87 2BB 3 The Wick Community Association Report of the General Committee for the year ended 31 March 2025 The General Committee have pleasure in submitting their Annual Report along with the accounts of The Wick Community Association ("the Association") for the year ended 31 March 2025. Status 1997. The Association is a registered charity, with its constitution having been adopted on 14 April Objectives of The Association The objectives of the Association as set out in its constitution are to promote the benefit of the inhabitants of The Wick area and to establish, maintain and manage a community centre. Financial Review of the Year The deficit for the year was £7,651 (2024: surplus of $3.777). The deficit for this year was due to planned building works taken from reserves as an authorised overspend Reserves Policy In view of the fixed nature of the expenditure of the charity, the aim of the General Committee over the medium term is to be able to retain reserves at a level in the region of six months total expenditure. Investment Policy All funds retained in excess of immediate requirements are retained on deposit. The aim is to achieve the optimum return on an instant access account. Risk Management The General Committee are aware of the major risk to which the charity is exposed, namely being unable to secure income to cover the expenditure of the charity, which is primarily of a fixed nature. In this respect, a number of regular users of the premises have been secured, and the continuation of these licence agreements is continually reviewed to ensure optimum use of the charity's premises Independent Examiners Collins and Co Accountants are willing and stand for re-election as Independent Examiners to the charity. 4 The Wick Community Association Report of the General Committee. for the year ended 31 March 2025 Statement of General Committee Responsibilities Law applicable to charities in England and Wales requires the General Committee to prepare accounts for each financial year which give a true and fair view of the state of the charity's financial activities during the year and of its financial position at the end of the year. In preparing accounts giving a true and fair view, the General Committee should follow best practice and:- -select suitable accounting policies and then apply them consistently; -make judgements and estimates that are reasonable and prudent; -prepare the accounts on the going concern basis unless it is unlikely that the charity will continue in operation. The General Committee are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the accounts comply with applicable law and the trust deed. They are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the General Committee 205 Miss L Brooker (Secretary) 2/5/25 Date The Wick Community Association Independent Examiner's Report to The General Committee for the year ended 31 March 2025 We report on the accounts of The Wick Community Association for the year ended 31 March 2025, set out on pages 7 to 10. Basis of Independent Examiner's Report Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as a General Committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts. Respective responsibilities of General Committee and Examiner The charity's General Committee are responsible for the preparation of the accounts, and they consider that an audit under section 43(2) of the Charities Act 2021 is not required this year, and that an independent examination is needed. It is our responsibility to examine the accounts, to follow the procedures laid down in the General Directions given by the Charity Commissioners under section 43(7) (b) of the Charities Act 2021 and to state whether particular matters have come to our attention. Independent Examiner's Statement In connection with our examination, no matter has come to our attention: (1) Which gives us reasonable cause to believe that in any material respect to the requirements - to keep accounting records in accordance with section 41 of the Charities Act 2021: and - to prepare accounts which accord with the accounting records and comply with the requirements of the Charities Act 2021 have not been met. (2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. wuliley Collins and Co 28/30 The Broadway Wickford Essex SSI1 7AA Date: 6 The Wick Community Association Statement of Financial Activities ("SOFA") for the year ended 31 March 2025 Incoming Resources Charitable Activities Governance Costs Net Movement in Funds for the Year Extraordinary Expenses Total Movement in Funds for the Year 2025 € 97309 (91216) 6093 (6564) (471) (7180) (7651) 2024 95752 (90905) (3777) There are no recognised gains and losses other than those passing through the statement of fimancial activities. 7 The Wick Community Association Balance Sheet as at 31 March 2025 Notes 2025 2024 Fixed Assets Tangible Assets Investments 3 10222 T0223 12779 1 12780 Current Assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year Net Current Assets Total assets less current liabilities Accumulated Funds (Unrestricted) At 1" April 2024 Deficit/Surplus for the year 5 1331 51651 32982 (9272) 73710 33933 ===- 61584 (7651) 33933 1260 58904 60164 (11360) 48804 61584 65361 (3777) 61584 These financial statements have been reviewed by the committee and are agreed as being in accordance with the source documents. Signed on behalf of the General Committee Mr. P Campbell Plantell (Treasurer) The Wick Community Association Notes to the Accounts for the year ended 31 March 2025 1. Accounting policies Accounting convention The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), and in accordance with the Statement of Recommended Practice: "Accounting and Reporting by Charities" (SORP 2005), issued in March 2005, revised July 2008. Incoming resources Incoming resources in respect of the provision of goods or services (for example hall hire or function receipts) are accounted for on a receivable basis. Tangible fixed assets and depreciation Items purchased costing less than £100 are not capitalised, but are treated as an expense in the period in which the item was acquired. Depreciation is provided at rates calculated to write off the cost or valuation of an asset over the useful economic life of the asset, as Fixtures, fittings & equipment - 25% reducing balance Leases and hire purchases Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term. Investments Fixed asset investments are stated at cost less provision for diminution in value. Resources expended Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered. Where a service provider has granted a reduction at source in the cost of their services to the Association, the net amount payable has been recognised as an expense. In respect of the lease relating to the Association's premises, the amount payable reprosents 10% of the rent stated in the lease. Taxation The Association is exempt from Corporation Tax by virtue of it being a Registered Charity in England and Wales. 9 The Wick Community Association Notes to the Accounts (continued) for the year ended 31 March 2025 2. Tangible fixed assets Cost or valuation At 1 April 2024 Additions At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 Fixtures, fittings & Equipment € 63098 .851 63949 S0319 3408 53727 10222 15779 3. Fixed asset investments Cost or valuation At 1 April 2024 & at 31 March 2025 4. Debtors 2025 2024 Other debtors and prepayments 5. Creditors: amounts falling due within one year 1331 2025 -1260 2024 Other creditors 9272 11360 6. Related party transactions During the year The Association did not receive gift aid donations from Wick Community Centre Services Limited due to a new system being introduced whereby the WCSSL covers functions for the centre and allows the centre to recain funds from hiring of the bar lounge The nature of the Association is such that the members of the General Committee are also members of the Association. There are no preferential terms available to the members of the General Committee for their memberships. In addition, it is possible for any member to use and hire the facilities available, and members of the General Committee do so on the same terms available to other members except for one free hall hire per year. In view of the arms length" nature of such transactions, no additional disclosure is required in these accounts. 10 The Wick Community Association Hostes Accounts for the Year Ended 31 March 2025*% Five Year Summary + Balance Sheet: 51402072 Fixed Assets Cost Depreciation 2025 63950 (53728) 10222 1 10223 2024 63098 (50319) 12779 -12780 4103E475 2023 2022 2021 61340 (46061) 15279 52072 (40967) 11105 51642 (37266) 14376 Investments Total Fixed Assets Net Current Assets Current Assets Expenses Prepaid Other Debtors Cash at Bank and in Hand 13280 11106 14372 Less: Current Liabilities Hall Deposits Repayable Social Security & other taxes Accruals Net Current Assets Net Funds 803 528 51651 52982 2253 374 6645 9272 43710 53933 732 528 58204 60164 549 528 -25388 56463 638 528 21259 -22425 454 328 41753 42735 1948 341 907.2 11360 48804 61584 867 485 5032 6384 50081 65361 1317 6194 -75L 44914 36020 690 118 4457 5265 37470 51847 so sadle rital 11