REGISTEREO COMPANY NUMBER: 02910659 (England and Wales) REGISTERED CHARITY NUMBER: 1069483 R•port of th• Tru•tee8 and Unaudlted Flnan¢lal Statoments for th• Y•r End•d 31 March 2024 for DOUGLAS VALLEY COMMUNITY LIMITED IA COMPANY LIMITED BY GUARANTEEI ADIFUJWI• 2111212024 COMPANIES HOUSE A29
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NRB 1st Floor Waterside House Waterside Drive Wigan Lancashire WN3 5AZ
DOUGLAS VALLEY COMMUNITY LIMITED Contentj of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2024 Pago Relernnc• and Admlnlstratlve Detslls Report of the Trustée6 Independent Examlnetrs Report Statement of Financial Actlvftleg Balan¢e Sheet Not•$ to the Flnanelal St•t•mènts 7 to 11 D•t•il•d Stat•mont of Flnan¢lal Aellvltle8 12
DOUGLAS VALLEY COMMUNITY LIMITED Reference and Administrative Details FOR THE YEAR ENDEO 31 MARCH 2024 Trugt•es Mr M P Honor Mr J Moodie Mr D Rainford Mr C Ready Mr F B Walker Ms J Sharratt Mr L Hunt lappointad 10.1.24) R•gl•ter•d offic• Wigan Investment Contre Waterside Drive Wigan Lancashir8 WN3 5BA Registered company numb•r 02910659 (England and Wales) Ro918tor•d charlty numb•r 1069483 Ind•p•ndont ex•mln•r NRB 1st Floor Waterside House Waterside Drive.......-_. .. Wigan Lancashire WN3 5A2 Page 1
DOUGLAS VALLEY COMMUNITY UMITED Report of the Tru#tees FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are also d1ctOrS of Ihe charity for the purposes of the Companies Act 2006. present their report wth the finanaal statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Ststement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effeclive 1 January 20191. Objectlves and aetlvltles ObJ•ctlves and alm¥ The Twslees are delighted to report Douglas Valley Communrty remains in a sound financial position and continues to provide safe and affordable community space for local people across the Borough of Wigan and Lelgh. Douglas Valley Community currenlly has a portfolio of 8 Community Centres recruiti'ng local voluntary community groups lo ftjn these wherever possible, others are njn under direct DVC management. Douglas Valley Communty providgs SUPPOrt for community groups which use these venues to ensure their success and sustainability. Douglas Valley Communty offers support. expertise and advice to other assets acros$ the borough which have been transferred lo communty groups through Wgan Council's Community Asset Transfer Programm8. Such assets indude mmunity centr8s, chapels, b0ing greens. allotments and playing fields. Our Prlorllle* 2023124 . Ongoing direct managément of 3 community ¢entres. Ongoing Capital Funding Programmè investing in community a$$èts. Update Capacty Building & Training Programme to support communty organisations in running and managing their community buildings su¢ce$sfiJlly. Continue to promote competitive room hire costs to ensure groups have access to affordable space to dellv8r communty activities. Ongoing worf( alongside partners to generate extemal income for eommunity cantres to encourago ffinonckgl independence and $ustainabilty. - Continue to prowde business planning expertise for Community Asset Transfer. - Contsnue lo carry out Social Impa¢t Reviews each year to ensura community bulldings are well used and meetlng the needs of the community. Contsnue to carry out Annual Building Diagnostics lo ensure community buildings remain Compliant and fit for purpose. - Continue to promote environmental awareness and improvements, Douglas Valloy Trustees beli8ve ComrnunSty centres play a hugely important part In local comrnuni1185. offering spaco and hosting a vast range of seNice8, public events and activities all contributing to community life. Communlty A•••t Tran•l•r DVC continu& to woth in partnership with wan Counul to Pfo¥id8 independent advice and expertise on the transfers and with groups onc4 asset is handed over to ensuffj a smooth transition. In addition. DVC carry out Annual Organisats'on DiagnostiG review5 to ensure new asset transfers are m6eling their business plan outcomes and to identify ere they may need suppo Our Wld•r Work Douglas Valley Community continue lo work wth a wde range of local partners and stakeholders from the public, private and voluntary $8ctors. ThroL¢gh thi$ partnership work. we provide a broad spgdrum of support seNices far community organisations to help them more effecflvely govem and manage their own Community buildings. The Tru$lees welcomed the addibon of Cllr Lawrence Hunt to the DVC Board in January. The Chair and Truslees of Oouglas Valley Community see a continuing and expanding role for the organisation, and would like to thank the $laff and volunteer9 for Iheir hard work ensuring tho great suc¢es$ achievecl over the past 12 months. The Chair and Trustees also thank partners Wigan Council and Wigan Metropolitan Development Company for their ongoing support of the Charity. Page 2
DOUGiA5 VALLEY GOMMUNrrY UMITED R¢port ol th• Tru$ts•s FOR THE YEAR ENDED 31 MARCH 2024 stvuclurn, govemancè and manamAt Governlng docufflenl The thatity Is a (mpany limlled by guarnnlg¢. Th• Memordndurn and Al•$ of A51?110n ar8 therafare its govemlng docurnenL 11 Inuyporaled In March 1994. the Memufandum ond Arlldes tftder8 amended In Marth 199B and February 2007. are 8o¥en seNlng Tntstee& Th8 Charfty is activety looklng to appoint nvov tr189$. New Irustees fecelve a general Irbduclion In tho orfyns. rol8 and stnJclures of tho charfty. as well a5 thelf ffjle and fespon5foiliiies under tharity law and regulBlions. an(1 undef company law. Trainlng for individuals or groups ol InleeS is gi¥en, as fequired. on rnore •Jelailed such as the slfuclyre and Intelation ol the accounls and other 18thnl¢al issue& The boarf ol Iruste8s has elecied a Chair. VlrChr and Trna5urer. Th• 808rd 9merdlty mMIs Ilmes P•f year wilh an elecled oifKers meeting In tho lernate monlhs. Appnwad by Qrder of Ihe board of Insl••s on..... i.I,Iz l.zp.24...,.. and slgngdon b•hall by. PAr F 8 Walker.. Tiilee P483
Independent Examinefs Report to the Trustses of Douglas Valley Communlty Limlted Independent examlnerfs report to the tru$tee$ of Doltglas Valley Community Limited {'the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. R8spon$ibilitie8 and basi$ of report As the charitys trustees of the Company (and also its diredors for the purpose$ of ¢ompany18w) you are responsible for the preparation of the accounts in accordancè the requIrnents of the Companies Act 2006 ('the 2006 ACYI. Having satisfied myself that the a¢counts of the Company 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 charitys accounts as carried out under Section 145 of the Charities Act 2011 1.the 2011 Act,). In ¢arryin9 Out my examination I have followed the Directions givgn by the Chanty Commission under Section 145151 (bl of the 2011 A. Indepèndont •xamln•rfs stst•m•nt I have completed my examination. I confimi that no matters hava come to my attention in conn8th.on vth the examination giving me cause to believe.. accounting rècords wére not kept in respect of the Company as required by Section 386 of the 2006 Act.. or the accounts do not accord wlth those records.. or the accounts do not comply wth the accounting requirements of Section 396 of the 2006 Act other than any quirement that the accounts give a true and lair view which is not a matter considered as part of an Independent examination.. or the accounts have not been prepared in accordance with thé mèthods and principles of the Slatement of Recommended Practic* for accounting and reporting by charitse$ {applicable to charitses preparing their occounts in acrdanC with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)1. I havè no concerns and havé come across no olher matters in connection with the examination to thich attention should be dravm in this report in order to enable a proper understanding of the accounts to be reached. erini Colherine Rogers 8Sc FCA NR8 191 Floor Waterside House Waterside Drive Wgan Lancashire N3 5AZ Date.. Page 4
DOUGLAS VALLEY COMMUNITY LIMITED Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2024 31.3.24 Total fvnds 31.3.23 Total funds Unrestrtcted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 40,475 40.475 30,000 Chafltable aclivities General and Management 65,306 65.306 70,416 Investment income Other Income 3,377 9.274 3.377 9.274 1.160 11.359 Total 118,432 118,432 112,935 EXPENDITURE ON Charitable activities General and Management 82.041 45.417 127,458 78,520 Other 44,183 44.183 46.852 Total 126,224 45,417 171.641 125.372 Not gains on Investrnenl8 135,000 135,000 NET INCOMEI(EXPENDITURE) 127.208 {45,417) 81,791 112,4371 RECONCILIATION OF FUNDS Tolal lunds brought forward 494,341 73,398 567,739 580.176 TOTAL FUNDS CARRIED FORWARD 621,549 27.981 649,530 567,739 The notes fom part of these financial statements Page 5
OOUGLAS VALLeY COMMUNITY UMITED Bal•K• Sh•et 31 MARCH 2024 31.324 Tol41 31.3.23 Total thjnds Unrnslrlcted fundi Reglricted funds FIXED ASSETS Tang1 assets 349.354 372,334 260.852 CURRENT ASSETS 6.771 271.232 6.771 276233 5.191 304.423 Cash at bank and In hand S.)1 278.IJ03 S,(n1 283.004 309,614 CREDITORS Arnwnts llry thm th ong year (5,808) (5.808) (2.727) NEf CURfteNf A8seTS 272.195 5.001 277.196 306.887 TOTAL A8SeT8 LE83 CURREiif LIABILrnES 41.$49 27.981 649.530 S67,7J9 NET ASSErs 621Y9 27,981 649,530 567,739 FUNDS Unrn5trfcted knds 621.549 27.981 494.341 73.398 TOTAL FUND8 649.030 867,739 Th• thaiil•bl• ¢>Jmpany l• th¥U•d lo •xwnpiknn lrnm •uthi undw S•cUon 4T1 ol lh• Carnp•nl••' Aol 2006 for th• y••r ended 31 Math 2024. The membws hA¥• nol rnwlred the Mpo to ab121Th an audtt of its fin sLth•rils'for the yaar ed 31 IA4rth 2024 In •gxlonc4vAlh Seclkn 476 01 the Companlos A¢1 2¢JJ6. Tha INstees •d(rth¥lodgo Ihelr rnsponsthllSties for la) $urtn9 that tho cofflpany kow acthunllng Ihal a>mply S•dbon• 386 and 387 01 lh• Comwl85 Act 2006 and pr•p•rtng flMncbAI sl•lafflffil• • tyu• and lalr th of lh• it•ts <1 aff•h of th• ch•riiabl• (thxpany 81 Ihe end ol eath flnd81 and of Its sulUS Of defidt for eath ffinan yew In acc4rilanco wllh tho r•qulrwnBnts ol S¢cllons 394 and 395 •nd Tthlch olherwlse compty the raqulr•ments ol tho Compenle5 At# 2006 relabffj ts finanrw 8tatamwts, so lar a& aPpC•ble lo Ihe charfjlabiè compwy. (b) Thu• Iln•ncW Bl4t•ffl¢nts hm b••n prwfed In acc•rd•nco wlh lh• prn¥tslon• wlicablo lo charftJbl• c¥)mp•rf subjeci lo Ihe companl•s rnglm•. "al slatwn•nts opprov•l ty lh• ¢1 TNsle•s aulhormd lor Issue on Ind ¥&non N8 b•hall by: Mr F B iilalitef - Trtea Tha noies form part ol thesa firnlI slateff*nlg Page 6
DOUGLAS VALLEY COMMUNITY LIMITED Noles to the Financial Ststements FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basls ol preparing the financial ststements The financial slalements of the charitable company. which Is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounling and Repothng by Chanttes: Ststement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffects've 1 January 20191,. Financial Report¢ng Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial statements have been prepared under the histori1 cost convention, as modified by th8 revaluation of certain assets. Income All income is recognised in the Statement ol Financial Acttvities once the charity has entillement to the funds, it is probable that the income will be received an(i the amount can be measured reliably. Expendlturo Liabilities are recognised as expenditure as soon as there is a legal or constructs've obligation committing the charity to that éxpendilur8. it is probable that a transfer of economic benefits will be required in settlement and the amount of Ihe obligalion can be measured reliably. Expenditure is accounted lor on an accruals basi5 and has been classified under headings Ihal aggregate all cost related to the category. 10th8r& costs cannot be directly attributed to particular headings they have beèn allocated to activitses on a basis consistent with the use of resources. Tanglbl• fixod a•••ts Depreciation ig provided at tho following annual ratos in order to write off 08ch asset ovef Its estimated u$eful Freehold propety Long leasehold Plant and machinery Fixturès and fittings Computer equipment not provided 4% on cost 10% on cost 10% on cost 33.3% on cost Properties (induding Impr0M•t8 to propety) 8r8 included at valuation. All remaining asset$ are included at cost. FreehoKI property has not been depreciated on the basis that the depreciatson charge would ba Immaterial to the financial statements and the freehold propety is r8valwJ on a regular basis. T•xatlon Tho charity15 exempt from corporatlon tax on Its charitable acllvlties. Fund a¢countlng Unrestn'cted funds can be used in accordonce with tho charitable objectives at the discretion ol the trustees. Restricted funds can only be used for paCular r88tricted purposes within the objects of the charity. Restrlctlons arise when specified by the donor or when funds are raised for parb"Gular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial stalements. INVESTMENT INCOME 31.3.24 31.3.23 Deposit account interest 3,377 1,160 Page 7 contsnued...
DOUGLAS VALLEY COMMUNITY LIMITED Notes lo tho Flnanclal Statements - continu•d FOR THE YEAR ENDED 31 MARCH 2024 NET INCOMEI{EXPENDITURE) Net incomel(expenditural is stated after chargingl{uedib'ng)'. 31.3.24 31.3.23 Depre¢iation - owned a$sgts 23.518 21,933 TRUSTEES, REMUNERATION AND BENEFITS There V4Ere no trustees, remuneratlon or other benefits lor the year ended 31 March 2024 nor for the year ended 31 March 2023. Tru8teM' •xpen••• Thar8 were no Iruslee8' expenses paid for th6 yèar onded 31 March 2024 nor for the year ended 31 March 2023. STAFF COSTS The average monthly numbw of employees during the year was as follows.. 31.3.24 31.3.23 Managed contres Management No employees received emoluments in excess ol £80,000. TANGIBLE FIXED ASSETS Improvements to property Freehold propety Long leasehold COST OR VALUATION Al 1 April 2023 Revaluatlons 85.000 135,000 90.00) 174.097 Al 31 March 2024 220.000 90.000 174.097 DEPRECIATION At 1 April 2023 Charge for year 50.400 3,600 54,273 17,408 At 31 March 2024 54,000 71.681 NET BOOK VALUE Al 31 March 2024 220,CIJO 36,OCM) 102.416 At 31 Mar¢h 2023 85,QOO 39,600 119,824 Page 8 conbnued...
DOUGLAS VALLEY COMMUNITY LIMITED Nots• to the Flnanclal Statement8 - Contlnued FOR THE YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASSETS - contlnu•d FixtLtres and fittings Planl and ma'chinery Computer equipment Totals COST OR VALUATION At 1 April 2023 Revaluations 27.934 65,191 4.253 446,475 135,000 At 31 March 2024 27,934 65,191 4,253 581,475 DEPRECIATION At 1 April 2023 Charge for year 27,934 48,763 2,510 4.253 18S,623 23,518 At 31 March 2024 27,934 51,273 4,253 209.141 NET BOOK VALUE At 31 March 2024 13,918 372,334 At 31 March 2023 16,428 260,852 Cost or valuation at 31 March 2024 is represented by.. Improvements to property Freehold property Long leasehold Valuatson in 2024 Cost 135,000 85,000 90,000 174,097 220,000 90,000 174,097 Fixtures and fittings Plant and maGhin&ry Computer equipment Totals Valuation in 2024 Cost 135,000 448,475 27,934 65.191 4,253 27.934 65,191 4,253 581,475 Durin9 the year ended 31 March 2024 the freehold and leasehold properties We revalued. The valuatson of the assets was carried out in April 2023 by Wigan Borough Council at rnaet value. DEBTORS: AMOUNTS FALLING DUÉ WITHIN ONE YEAR 31.3.24 31.3.23 Trade debtors 8.771 5,191 Page 9 conlinued...
DOUGLAS VALLEY COMMUNITY LIMITED Notes to the Finan¢lal Statements - contlnued FOR THE YEAR ENDED 31 MARCH 2024 CREDITORS: AMOUNTS FALLING.DUE WITHIN ONE YEAR 31.3.24 31.3.23 ruals and deferred income . 5.808 2,727 MOVEMENT IN FUNDS Net movement in funds At 31.3.24 Al 1.4.23 Unrestricted funds Core actiwltes 494,341 127,208 621,549 Rostrlct•d fund• Increased funding for the centres 73,398 {45.417) 27,981 TOTAL FUNDS 567,739 81,791 649.530 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in fvnds Unre$trlcted funds Cora activities 118.432 {126,2241 135,000 127,208 Restrlctsd lund8 Increased funding for the centres (45,417) (45,417) TOTAL FUNDS 118,432 1171,641) 135.000 81,791 Comp•ratlves for movemont In funds Net movement in funds At 31.3.23 At 1.4.22 Unrostrlcted fund• Core activitses 499,110 (4,7691 494,341 R•8trlcted funds Increased funding for the Centres 81,066 {7.e68) 73,398 TOTAL FUNDS 580.176 (12,4371 567,739 Comparative net movement in funds. included in the above are as follows.. Incoming resourLWS Resources expended Movement In funds Unre9trf¢ted funds Core activities 112,935 {117,7041 14.789) Restrictsd funds Incxeased fiJnding for thé centres {7.668) 17,668> TOTAL FUNDS 112,935 (125,372) (12,437) Page 10 continued...
DOUGLAS VALLEY COMMUNITY LIMITED Notes lo tho Flnanclal Stataments - ¢ontlnu¢d FOR THE YEAR ENDED 31 MARCH 2024 10. RELATED PARTY DISCLOSURES Theré no related party Iransactions for the year ended 31 March 2024. Pago 11
DOUGLAS VALLEY COMMUNITY LIMITED Detailed Statement of Flnanclal Actlvltles FOR THE YEAR ENDED 31 MARCH 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donallon$ and legacies Grants 40,475 30,000 Invesiment Incomo Deposit account interest 3.377 1.160 Charltable a¢tiviti•8 Room hire 85,306 70,416 other Incomè Misc. income {including café) 9.274 11,359 Totsl Incomlng r•sourc•a 118.432 112.935 EXPENDITURE Ch•rltabl• a¢tlvltl•• Wages Rates and water Repairs and maintenance Light and heat Telephone Other building costs Sundries 9.011 10.852 16,600 9,070 3.039 1,450 1,425 9,208 3,263 16,435 9,005 2,424 1,991 3,115 51,447 45,441 Oth•r Wages Travelling Camputer costs 41.242 152 2.789 41.580 199 5,093 44,183 46,852 Support ¢o•ts Management Telephon8 Postage and statr'onery Sundries Bad debts Oepreciabon of tanglble and heritage assets 502 399 1,599 3,360 23,518 503 834 3,360 21,933 29,378 27,596 Govomance costs Accountancy fees Subscripb'ons & donations 1.713 44.920 1,808 3.675 46.633 5.483 Tolal resources expended 171.641 125,372 Net •xp•ndltur• 153,2091 112,437) This page does not fom part ol the statutory financial statements Page 12