The Fielden Centre Association
(A company limited by guarantee)
Annual Report
&
Financial Statements
For the year ended 31[st] October 2024
Company number 3652969
Charity number 1073420
Index
| Company Informaton | 1 |
|---|---|
| Directors Report |
2 |
| Finances |
3 |
| Income and expenditure account | 4 |
| Balance Sheet |
5 |
| Notes on fnancial statements |
6 |
The Fielden Centre Association Company Information For the year ending 31[st] October 2024
Directors
William Griffiths Susan Thornton Gail Allaby Keith Coates JennY Coleman Jane Liddell Margaret Whiteley Leye Oladapo Jane Williams
Company Officers
Chair Jenny Coleman Vice Chair William Griffiths Company Secretary &Treasurer Keith Coates
Registered Office & Principle place of Business
The Fielden Centre, Ewood Lane, Todmorden, West Yorkshire, OL14 7DD
Bankers
TSB plc Virgin
1
The Fielden Centre Association Directors Report For the year ending 31[st] October 2024
The directors, who are trustees of the charity, present their annual report and financial statements for the year ending 31[st] October 2024.
Status and Administration
The company is a registered charity and a company limited by guarantee and governed by its Memorandum and Articles of Association.
Charitable Objectives and Principal Activities
Objectives
1. To promote the benefit of the inhabitants of Todmorden and the neighbourhood thereof without distinction of sex, sexual orientation, race or of political or religious or other opinions, by associating together with 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 social welfare for recreation and other leisure time occupation with the object of improving the conditions of life of the said inhabitants.
2. To secure the establishment of a community centre (hereinafter called The Fielden Centre) and manage the same, whether alone or in co-operation with any Local Authority or other person or body in the furtherance of these objects.
Activities
The Association provides an affordable venue for a variety of cultural, educational and training, heritage, environmental, social and community, and charitable events. The centre is used by a wide range of local and community groups including a play group , various University of Third Age groups , meditation group ,choral singers and many others.
Directors (Trustees) Appointment and Retirement
The Directors (Trustees) are appointed by members at the Annual General Meeting. One third of the Trustees (those who have served longest) retire annually. They may be re-elected.
Officers are appointed by the Trustees. There are currently three positions: Chairman; Company Secretary; Treasurer.
Overview of the Year
At the end of the previous year it was possible to report that recovery from Covid was virtually complete and it was anticipated that income would continue to increase steadily. Unfortunately that has not been the case. Following the landlord`s decision to undertake a major improvement to the energy efficiency of the building there has been a long period of uncertainty about when the Centre would have to close. As a result it has not been possible to take bookings for most of the year or for the early months of the following year. There has ,therefore, been a significant loss of income and some deposits have had to be refunded.
The outcome is that at the end of the year the finances were in a precarious position. That is masked by the receipt of a £20000 grant for works linked to the major project.
Hopefully the finances will recover with the reopening of the Centre in the early months of 2025.In the longer term the improvement works will have a significant benefit in reducing energy costs
2
Finances
Directors Responsibilities
Company Law requires all directors to prepare financial statements for each financial year which give a true and fair view of state of the company and the surplus and deficit of the company for that period. In preparing those statements the directors have:-
-selected suitable accounting policies and applied them consistently.
-made judgements and estimates that are reasonable and prudent.
-stated whether accounting standards are followed, subject to any material departures disclosed and explained in the financial statements.
-prepared financial statements on an ongoing basis
Funds
Funds held by the company are detailed in the notes to the accounts.
Small Company Provisions
This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.
Signed on Behalf of the Board
Jennie Coleman
Trustee and Chair
Date
3
Statement of Financial Activities (including income and expenditure accounts) for the year ending October 31st 2024
Income 2024 2023 £ £ Donations/subscriptions 135 Hire Fees 23571 29860 Grants 20700 Interest 15 Refund-EON _______ Total Income 44271 30110 Expenditure Rent 2400 2400 Building Insurance 730 Insurance 256 273 Heating/Lighting 4051 2644 Water Rates 634 967 Management/Caretaking 15535 14237 Cleaning 2997 2681 Building Repairs/maintenance 1228 2728 Gardening 495 821 Telephone/IT 247 520 Web site 1600 150[th] Year Celebrations Furniture/Equipment 600 1762 Fire Protection 429 Sundries 416 340 Refunds 455 129 __________ Total Expenditure 29314 32234 Balance 14957 (-2124) Reconciliation of Funds Funds brought forward 7453 9577 Funds carried forward 22410 7453
All activities relate to ongoing activities There are no gains or losses other than those shown above The notes on pages 5 and 6 form part of these financial statements
4
Balance Sheet at 31 October 2024 2024 2023 £ £ Tangible Fixed Assets Leasehold Land &Buildings 42039 48044 Fixtures and fitt ngs 600 Current Assets Cash at bank/in hand 22410 7453 Current Liabilities Other Creditors - - 650 Net Current Liabilities Net Current Assets 65049 55497 Funds 22410 7453 Unrestricted Funds 2410 7453 Restricted Funds 20000
The directors are satisfied that the company is entitled to exemption from the provisions of the Companies
Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of Section 477, and
that no member or members have requested an audit pursuant to section 476 of the Act.
The directors acknowledge their responsibility for:
i)ensuring that the company keeps proper accounting records which comply with section 338 of the Act,
and
ii) preparing financial statements which give a true and fair view of the state of affairs of the company as atthe end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.
5
The Fielden Centre Association
Notes forming part of the financial statements for the year ended 31 October 2020 1 Accounting policies
Basis of accounting
There has been no change to the accounting policies since last year. The financial statements have been prepared using the historical cost basis of accounting and on the accruals basis and in accordance with applicable United Kingdom Accounting Standards, the Statement of Recommended Practice “Accounting and Reporting by Charities “issued in March 2005 (SORP 2005) and the Companies Act 2006.
Hire Fees
Hire fees income is included in incoming resources on an accruals basis.
Grants Receivable
These are credited to the income and expenditure account on an accrual basis.
When donors specify that grants are for particular purposes, this income is included in incoming resources of restricted funds when receivable.
Resources Expended Leasehold land and buildings Leasehold land and buildings are recorded at cost. Amortisation
The leasehold land and buildings are amortised over the unexpired period of the lease. The rate is 4% straight line. 2 Long leasehold land and Buildings
Cost and net book value at October 31 2023 £48044 Amortisation for the year £6005 Cost and net book value at October 31 2024 £42039
3. Trustees Remuneration
Trustees are not remunerated and no expenses were paid.
6
EXAMINER`S REPORT
AGE CONCERN TODMORDEN
Independent examiner`s report to the trustees of The Fielden Centre Ass the accounts for the year ended 31 October 2024
I am satisfied that the charity is not subject to an audit under company law and independent examination I have examined the accounts in accordance section 2011 Act following procedures set out in the General Directions given by the C Commission under section 145(5)(b) of the2011 Act.
I have reviewed the accounting records and compared the accounts presented records. This does not cover all the evidence required in an audit and, therefor is given as to whether the accounts present “ a true and fair view” and the rep the matters set out below.
As a result of the examination no matter has come to my attention which:
1.gives reasonable cause to believe that in any material respect the requireme accounting records in accordance with section 386 of the Companies Act 2006 prepare accounts which accord with the accounting records and comply with SORP (FRS102) have not been met
or
- to which attention should be drawn in order to enable a proper understandin accounts to be reached.
A d J R b t