Charity registration number. 1070269 Sunningmead Community Association Annual Report and Financial Statements for the Year Ended 31 May 2024 WESTCOTTS CHARTEAÈD ACCOVNTANTS & BU$INESS ADVISERS
Sunningmead Communlty Association Contents {continued) Reference and Administrative Details Trustees, Report 2to5 Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9t016
Sunningmead Community Association Raference and Administrative Details Chaimian M Rattenberry Trustees L Astbury T Bridger M Bumell H Burton S Bush DH J HOWE J Lejeune K Lejeune Z Sliwka K Southgate M Rattenberry Charity Reglstration Number 1070269 Prlnclpal Office Sunningmead Communty Centre Lazenby Road Wincombe Tiverton EX16 4AL Westcotts (SW) LLP Timberfy South Street Axminst Devon EX13 SAD Westcotts Timberfy South Street Axminster Devc EX13 SAD Independent Examlner Accountants Page 1
Sunningmead Community Association Trustees, Report The trustees present the annual report together Vth the financial statements of the charity for the year ended 31 May 2024. Objectives and actlvities Public benefft The trustees confirm that they have complied viith 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 Recruitmenl Induction and training, Risk management Organisational structure. Related parties Structure Sunningmead Community Association is an unincorporated charity (Charity no.. 1070269) formed as an Ass¢xiation and governed by its constitution adopted on 17th June 1998. Trustees The Charity is managed by the Trustees who m&t regularly to ensure the Charity continues to meet its charitable aims. New Trustees are appointed by existing Trustees. The Trustees re1ve no remuneration for their role as Trustees. The trustees have had regard to the Charity Commission's guidance on public benefit. Rlsk Management The Trustees have considered the major strategic, business and operational risks which the charity faces and confim that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. Objectives and activities The objectives of the Charity are to promote the benefit of the inhabitants of Wilcombe and Tidcombe and the neighbourhood together defined by Cranmore ward, Tiverton wthout distinction of sex, sexual orientation, race or of political, religious or other opinions, by associating together the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilitie5 in the interests of social welfare for recreation and leisure time occupation with the object of improving the conditions of lrfe for the said inhabitants. Page 2
Sunningmead Community Association Trustees, Raport (continued) Achievements and performance It has been another very busy year again for the Centre. Although, the second half of our year has been a fight against a downturn in business. This was due to the "cost of living crisis" made worse by other fa¢tors going on in the world. An increase in halllroom hire charges and cutting costs has started to tum Ihis situation around. Also, one of our cleaners had to take a reduction in hours. Our Administrator lefl at the end of April, so the pro$$ to replace her has started. Doing without this position. until filled, is also saving us money as the National Minimum Wage had risen again. Birthday paty bookings have improved and been steady, along with an uptum in enquiries about room and hall availability. We have also had new hirers in ROC College, Prospero Teaching, Navigate, XYLA Health and a Hula Hoop group. We received a £500 donation from Wednesday evening Bingo at Heathcoat Hall, which funded buying a Beer Cooler, plus a SCA banner. We also were called upon by Mid Devon District Council, to use our premises as a Polling Station for the Police and Crime Commissioners Election. We started looking for funding towards our "Roof Appeal" which is going to be a long process, due to the supremely steep cost to have new roofing work carried out. Our oveNiew of things going foNard is a much more positive with our General Account in a healthier place, which has filled us with a high level of optimism. With or without funding, we can use our own funds, with care, to get a few of the repair jobs completed. Financlal review During the period the Charity received income of £66,802 (2023: £49,740). Of this income £59.302 (2023: £49,740) was unrestricted and £7,500 (2023: £-) was restricted. The Charity incurred expendsture of £55,239 (2023.. £61,604) during the year, of which £2,428 (2023: £3,942) related to unrestricted direct charitable activities and £52,811 (2023: £52,972) related to unrestricted support costs; all of the expenditure was unrestricted. At 31st May 2024 the Charity had net assets of £299,628 (2023.. £288,065) of which £291,828 (2023.. £287,765) was unrestricted and £7,800 (2023.. £300) was restricted. The Trustees faced a difficult financial situation in the first half of the year, with a 'perfect stom, of shrinking income on all fronts alongside dramatic increases in costs and a slew of one of expenses. particularly repairs to our failing Roof. The current felt flat roof is now 15 years old, and so is at end of lrfe. The Trustees therefore agreed to launch a Sunningmead 'Raise the Roof Campaign to raise funds to replace the flat roof an estimated cost of £60-80,000. So far the Campaign has raised pledges and grants of £17,500 towards the replacement, so there is still a way to go before we meet that goal. We will be focusing on further Grant applications in the coming year. Faced with the ongoing financial pressures, the Trustees took the decision to increase rents to our longer term Tenants in order to bolster our Income. This has helped to tum the situation around in the second half of the year, with the Bank Accounts looking far healthier by the years end. Page 3
Sunningmead Community Association Trustees. Report (continued) Paty Bookings have continued to provide a steady stream of Income for the Centre, and Trustees have resisted any further rise in our Hire prices for this important Community resource. Bookings have remained lower than in previous years due to the ongoing pressures on household incomes. We have gained some new regular Hirers and Tenants, which has helped to boost our Income as well, and obviously the Bingo continues to be a consistent source of revenue for which the Trustees are grateful. The Trustees continue to be committed to keeping the Centre open for the Community and open to the Community as much as is possible. We continue to offer the centre as a 'warm space. any time we a open, we continue to host free food and social events during the week, and will continue to look at any way we can expand this offering working with community partners to open the Centre up as much as possible to the local Community free of charge. We once again look fOard to the new Committees ideas to continue this. Overall, we feel the Centre is again in a stsble and sound financial situation and we will continue to build on that stability. Reserves Policy The Trustees agree to try and retain a balance in the Current Account of more than £5000, as a Reserve. This amount estimated to be the amount required to cover salaries and costs for one Month. This amount to be reviewed at future AGM'S as required Page 4
Sunnlngmead Community Association Trustees. Report (continued) Trustees. responslblllties statement The trustees are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Untted Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the charty trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charty for that period. In preparing these financial statements, the trustees are required to: • select suitable accounting policies and then apply them consistently; observe the methods and principles in the applicable Charities SORP-, make judgements and accounting estimates that are reasonable and prudent. stste whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees, annual report was approved on . trustees by. ZS_I r)_ L+. and signed on behalf of the board of M.A. I M Rattenberry Chairman and Trustee Page 5
Sunningmead Community Association Independent Examiner's Report to the trustees of Sunningmead Community Association I report to the trustees on my examinalion of the accounts of Sunningmead Community Association for the year ended 31 May 2024. Responslbilitles and basls of report As the charity trustees of Sunningmead Community Association you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act.). I report in respect of my examination of the Sunningmead Community Association's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5)(b) of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. 1. accounting records were not kept in respect of Sunningmead Community Association as required by section 130 of the Act,. or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (AOuntS and Reports) Regulations 2008 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. 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. Mr Stuart J Carrington FCA For and on behalf of Westcotts (SW) LLP Timberly South Street Axminster Devon EX13 SAD Date: Page 6
Sunnlngmead Community Assoclation Statement of Flnancial Activities for the Year Ended 31 May 2024 Unrestricted funds Restricted funds Total 2024 Total 2023 Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities Total income 720 362 58,220 7,500 8,220 362 58,220 1,321 15 48,404 59,302 7,500 66,802 49,740 Expenditure on: Charitable actsvities (55,239) {55,239) (61,604) 61,604 Total expenditure Net income/(expenditure) Net movement in funds 55,239) 55,239 4,063 7,500 11,563 (11,864) 4,063 7,500 11,563 (11,864) Reconciliation of funds Total funds brought forward Total funds Carried forward 14 287,765 300 288,065 299,628 299,929 291,828 7,800 288,065 All of the charity's activities derive from continuing operations during the above periods. The funds breakdown for 2023 is shown in note 14. nte The notes on pages 9 to 16 fomi ??[ part of these financial statements. ag
Sunningmead Community Association (Registratlon number: 1070269) Balance Sheet as at 31 May 2024 2024 2023 Note Flxed assets Tangible assets Current assets Debtors Cash at bank and in hand 278,532 279,809 5,517 18,590 24,107 75 10,679 10,754 Credltors: Amounts falllng due wlthln one year Net current assets 12 3,011) (2,498 21,096 8.256 Net assets 299,628 288,065 Funds of the charity: Restricted income funds Restricted funds 7,800 300 Unrestrlcted Income funds Unrestricted funds 291,828 287,765 Totsl funds 14 299,628 288.065 The financial ststements on pages 7 to 16 were approved by the trustees. and authorised for issue on L*-.. and signed on their behalf by: M.¢k. I M Rattenberry Chairman and trustee nte The notes on pages 9 to 16 form ay è91 part of these financial statements. ag
Sunningmead Communlty Association Notes to the Financial Statements for the Year Ended 31 May 2024 l Accounting pollcles General Infomatlon The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. the address of the principal office is Sunningmead Community Centre. Lazenby Road, Wilcombe, Tiverton, EX16 4AL. Statement of compliance The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reportin9 Standard applicable in the United Kingdom and Republic of Iland (FRS 102) and the Charities Act 2011. Basis of preparation Sunningmead Community Association meets the definition of a public benefit entty under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention wilh items recognised at C05t or transaction value unless otheplvise stated in the relevant note{s) to these accounts. Going concern The trustees consider that there 8re no material uncertainties about the charitys ability to continue as a going concem. Judgements The preparation of the financial statements requires management to make judgements that affect the amounts reported. There were however no significant judgements to disclose during the year. Income and endowments Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has enlitlement to the income. it is probable that the income will be received and the amount can be measured with sufficient reliability. Donations and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. 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 perfoan conditions are attached to the grant and are yet to be met, the income is recognised as a liabilty and included on the balan sheet as deferred income to be released. 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 reSoUrs, 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. Page 9
Sunningmead Community Association Notes to the Financial Statements for the Year Ended 31 May 2024 (continued) Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for it5 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 charitls compliance with constitutional and statutory requirements, including audit, strategic management and trustee5 meetings and reimbursed expenses. 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 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 Fixtures & fingS Depreciatlon method and rate 10 /0 reducing balance Since the Freehold property value is believed to exceed cost, rt is not considered necessary to depreciate Freehold property Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tem highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. Restricted income funds are those donated for use in a particular area or for specific purposes. the use ofwhich is restricted to that area or purpose. Page 10
Sunningmead Community Association Notes to the Financlal Statements for the Year Ended 31 May 2024 (continued) Pensions and other post retlrement obligations The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charty has no legal or constructive oblatIon to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service. the excess is recognised as a prepayment. Financial instruments Classification Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equty instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Recognition and measurement All financial assets and liabilities are initially measured at transaction price (including transaction costs). except for those financial assets classified as at fair value through profrt or loss. which are initially measured at fair value (which is nomally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or fin8ncial liabiliiy is measured at the present value of the future payments discounted at a market rate of interest for a simil8r debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends erther to settle on a net basis, or to realise the asset and settle the liabilty simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, Canlled or expires. Page11
Sunningmead Community Association Notes to the Financial Statements for the Year Ended 31 May 2024 (continued) 2 Income from donations and legacies Unrestrlcted funds General Restrlcted funds Total 2024 Total 2023 Donations and legacies; Donations Grants, including capital grants- Action for Children 720 7,500 8,220 821 500 720 7,500 8,220 1,321 3 Income from charitable activities Unrestrlcted funds General Total 2024 Total 2023 Fundraising activities 362 362 15 4 Income from other trading activities Unrestricted funds General Total 2024 Total 2023 Trading income" Room hire Equipment hire Bingo Bar income Membership subscriptions (Xher income 46,071 1,510 5.352 4,739 521 27 46,071 1,510 5,352 4,739 521 27 37.728 2,026 6,506 1,438 679 27 58,220 58,220 48,404 5 Expenditure on charitable actlvltles Unrestricted funds General Total 2024 Total 2023 Support costs Activities undertaken directly 52,811 2,428 55,239 52,811 2,428 55,239 52,972 8,632 61,604 Page 12
Sunningmead Community Association Notes to the Financial Statemants for the Year Ended 31 May 2024 (continued) 6 Analysis of governance and support costs Support costs Unrestricted funds General Total 2024 Total 2023 Staff costs Governance costs Communications and IT Premises General office 20,281 2,327 1,841 25,031 3,331 20,281 2,327 1,841 25,031 3,331 17.909 2,203 1,033 27,163 4,864 52,811 52,811 52,972 7 Net incomingloutgolng resources Net incomingl(outgoing) resources for the year include- 2024 2023 Depreciation of fixed assets 1,437 1,579 8 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year (2023: Nil). 9 Stsff costs The aggregate payroll costs were as follows: 2024 2023 Staff costs during the year were: Wages and salaries Social security costs Pension costs 19,602 494 185 17,909 20,281 17,909 The monthly average number of persons (including senior management I leadership team) employed by the charity during the year was as follows.. 2024 2023 No Monthly averaged number of employees No employee received emoluments of more than £60,000 during the year (2023: Nil). Page 13
Sunningmead Community Association Notes to the Financial Statements for the Year Ended 31 May 2024 {continued) 10 Independent examlner's remuneration 2024 2023 Fees payable to the independent examiner for. Independent examination of the financial statements 1,398 1,300 11 Tangible fixed assets Furniture and equipment Land and buildings Total Cost At 1 June 2023 Additions 265,602 29,596 160 295,198 160 At 31 May 2024 265,602 29,756 295,358 Depreclatlon At 1 June 2023 Charge for the year 15,389 1,437 15,389 1,437 At 31 Msy 2024 16,826 16,826 Net book value At 31 May 2024 At 31 May 2023 265,602 12,930 278,532 265,602 14,207 279,809 12 Credltors: amounts falling due within one year 2024 2023 Trade creditors Other creditors Accruals 704 565 1,742 950 1,548 2,498 3,011 13 Pension and other schemes Defined contribution pension scheme The charity operates a defined contribution pension scheme. The pension Cost charge for the year represents contributions payable by the charity to the scheme and amounted to £185 (2023- £Nil)- Page 14
Sunningmead Communlty Association Notes to the Financial Statements for tha Year Ended 31 May 2024 (continued) 14 Funds Balance at 1 June 2023 Incomlng resources Resources Balance at expended 31 May 2024 Unrestricted funds General Funds Building Reserve Totsl unrestrlcted funds 40,145 247,620 59,302 (55,239) 44,208 247,620 287,765 59,302 (55.239 291,828 Restricted funds Queens Jubilee Roof Fund 300 300 7,500 7,800 7,500 7,500 300 Total funds 288,065 66.802 (55,239 299,628 Balance at 1 June 2022 Incomlng resources Resources Balance at expended 31 May 2023 Unrestricted funds General Funds Building Reserve Total unrestricted funds 47,319 247,620 49,740 {56,914) 40,145 247,620 294,939 49,740 (56,914) 287,765 Restricted fund8 Queens Jubilee 4,990 4,690) 300 Total funds 299,929 49,740 {61,604) 288,065 The specific purposes for which the funds are to be applied are as follows.. The Queen's Jubilee fund was for a grant that was received in order to host a series of events in the run up to the Platinum Jubilee including a Funday for the Community. The monies received for the Roof Fund are to be spent on roof repairs at the Sunningmead Community Association. Page 15
Sunningmead Community Association Notes to the Financial Ststements for the Year Ended 31 May 20241continued) 15 Analysls of net assets between funds Unrestrictsd funds General Total funds at 31 May 2024 Restricted funds Tangible fixed assets Current Sssets Current liabilities 278,532 16,307 3,011 278,532 24,107 3,011) 299,628 7,800 Totsl net assets 291,828 7,800 Unrestricted funds General Total funds at 31 May 2023 Restrlcted funds Tangible fixed assets Current assets Current liabilities 279,809 10,454 {2,498 287,765 279.809 10.754 2,498) 288.065 300 Total net assets 300 16 Related party transactions There vrfere no related party transactions in the year (2023.. Nil). Page 16