NEWTON FARM COMMUNITY ASSOCIATION
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] MARCH 2023
REGISTERED CHARITY NUMBER 1078013
NEWON FARM COMMUNITY ASSOCIATION
TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31[ST] MARCH 2023
| CONTENTS: Trustee’s Information Trustee’s Annual Report Independent Examiners Report Statement of Financial Activities (Incorporating the Income and Expenditure Account) Balance Sheet Notes to the Financial Statements |
PAGE 1 2 3 4 5 6 - 7 |
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NEWTON FARM COMMUNITY ASSOCIATION
TRUSTEES’ INFORMATION
FOR THE YEAR TO 31[ST] MARCH 2023
| Trustees | |
|---|---|
| Rebecca James | Chair |
| Joanne Fields | |
| Esther Griffiths | |
| Registered Office | 23 The Oval |
| Hereford | |
| HR2 7HG | |
| Bankers | Lloyds Bank |
| 8 High Town | |
| Hereford | |
| HR1 2AE | |
| Charity Number | 1078013 |
(1)
NEWTON FARM COMMUNITY ASSOCIATION
TRUSTEES’ ANNUAL REPORT
The trustees present their report and the financial statements of the charity for the year ended 31[st] March 2023.
AIMS AND CHARITABLE PURPOSES
To supply support and activities for the local community in Newton Farm, Hereford.
ACTIVITIES AND DEVELOPMENTS
A grant was received from lottery funding to support 3 members of staff for 3 years. The charity also provides a citizen advice drop in centre.
RESERVES POLICY
A sum is held in the Nat West account for contingencies. The charity does not currently have a formal reserves policy but will look to put a formal policy in place during the current year.
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then 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,
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees 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 ensure that the financial statements comply with the charity SORP. The trustees 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.
Signed
Rebecca James
25[th] January 2024
(2)
NEWTON FARM COMMUNITY ASSOCIATION
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF NEWTON FARM COMMUNITY ASSOCIATION
I report on the accounts of the Trust for the year ended 31[st] March 2023 which are set out on pages 5 to 9.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met;
or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
MR A A Houston On behalf of RJ Francis & Co Limited Marshall Business Centre Faraday Road Hereford HR4 9NS
25[th] January 2024
(3)
NEWTON FARM COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING THE INCOME & EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31[ST] MARCH 2023
| Restricted Unrestricted Total Funds Total Funds Funds Funds 2023 2022 Note £ £ £ £ INCOME AND ENDOWMENTS FROM: Donations and Legacies 2 - 25,297 25,297 22,794 Bank interest received - 38 381 Grants - - - 1,820 Other - - - 3,638 __ _ _ _ - 25,335 25,335 28,253 _ _ _ _ RESOURCES EXPENDED: Costs of charitable activities 3 - 27,512 27,512 27,939 _ _ _ TOTAL RESOURCES EXPENDED - 27,512 27,512 27,939 _ _ _ NET (OUTGOING)/INCOMING RESOURCES - (2,177) (2,177) 314 _ _ _ RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD - 33,885 33,885 33,571 _ _ _ TOTAL FUNDS CARRIED FORWARD11 - 31,708 31,708 33,885 _ _ ____ |
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The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
(4)
NEWTON FARM COMMUNITY ASSOCIATION
BALANCE SHEET
| Note FIXED ASSETS Tangible Assets 4 CURRENT ASSETS Debtors 5 Cash at Bank and in hand CREDITORS:Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS:Amounts falling due after more than one year NET ASSETS FUNDS Unrestricted Income Funds Restricted Income Funds TOTAL FUNDS |
31STMARCH 2023 2023 £ £ £ 3,804 3,857 - 24,767 33,834 _ _ 28,624 33,834 _ _ 720 634 _ _ 27,904 _ 31,708 - _ £31,708 _ 31,708 - _ 31,708 _ |
2022 £ 685 33,200 _ 33,885 - _ £33,885 _ 33,885 - _ £33,885 __ |
|
|---|---|---|---|
| £ 3,857 24,767 _ 28,624 _ 720 _ |
The financial statements were approved and signed on behalf of the board on 25[th] January 2024.
........................................................ Trustee
Treasurer
(5)
NEWTON FARM COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] MARCH 2023
1. ACCOUNTING POLICIES
a) Basis of preparing the financial statements
The financial statements have been prepared in accordance with the charities SORP (FRS 102) ‘Accounting and Reporting by charities applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
b) Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
c) Depreciation Policy
Depreciation is provided at rates calculated to write off the cost, less residual value, of each asset over its expected useful life, as follows:
Fixtures & Fittings - 25% reducing balance method Computer Equipment - 25% reducing balance method
d) Resources expended
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. The charity is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT and is reported as part of the expenditure to which it relates.
e) Taxation
The charity is exempt from tax on its charitable activities
g) Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
There were no restricted funds for this year or the previous year.
| 2. 3. |
DONATIONS AND LEGACIES Restricted Unrestricted Total Funds Total Funds Funds Funds 2022 2021 £ £ £ £ Donations - 25,297 £25,297 £22,794 __ _ COST OF CHARITABLE ACTIVITIES 2023 2022 £ £ Rent & Rates - 6,200 Honorarium 16,253 9,053 Electricity and water rates 155 1,080 Insurance 590 579 Repairs and maintenance 5,203 2,113 Administration 3,990 5,985 Hire of equipment - 873 Telephone and internet 234 587 Legal and professional 1,087 1,469 _ _ £27,512 £27,939 _ ____ |
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(6)
NEWTON FARM COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] MARCH 2023
4. TANGIBLE FIXED ASSETS
| 4. | TANGIBLE FIXED ASSETS | TANGIBLE FIXED ASSETS |
|---|---|---|
| 5. 6. |
Fixtures & Motor Fittings Vehicle Total £ £ £ Cost At 1stApril 2022 4,105 4,715 8,820 Additions 1,608 2,244 3,852 Disposals - - - _ __ __ 5,713 6,959 12,672 _ __ _ Depreciation At 1stApril 2022 3,813 4,322 8,135 Charge for the Year 73 660 733 On disposals - - - _ _ _ 3,886 4,982 8,868 _ _ _ Net Book Value At 31stMarch 2023 1,827 1,977 £3,804 _ _ _ At 31stMarch 2022 292 393 £685 _ _ _ DEBTORS 2023 2022 £ £ Related Party Balance £3,857 £Nil -Wye’s Buys CIC CREDITORS:Amounts falling due within one year Accruals £720 £Nil ___ |
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| £ £Nil _ £Nil _ |
(7)