## NEWTON FARM COMMUNITY ASSOCIATION ## FINANCIAL STATEMENTS ## FOR THE YEAR ENDED 31[ST] MARCH 2024 ## REGISTERED CHARITY NUMBER 1078013 R J FRANCIS AND CO. Chartered Accountants & Registered Auditors Marshall Business Centre Faraday Road Hereford HR4 9NS NEWTON FARM COMMUNITY ASSOCIATION TRUSTEES’ ANNUAL REPORT ## FOR THE YEAR ENDED 31[ST] MARCH 2024 |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| |---|---| NEWTON FARM COMMUNITY ASSOCIATION TRUSTEES’ INFORMATION ## FOR THE YEAR TO 31[ST] MARCH 2024 **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 **Accountants** R J Francis & Co Chartered Accountants & Registered Auditors Marshall Business Centre Faraday Road HR4 9NS (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 2024. ## **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. On 31[st] March 2024 the charity’s related company, Wye’s Buys Community Interest Company, ceased trading separate to the charity and was incorporated within the charity. The assets of the company were transferred to the charity, as the Asset Locked Body specified in the company’s Articles of Association. ## **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: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the charities SORP; - make judgements and estimates that are reasonable and prudent; - state 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 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. Approved by the trustees on 2[nd] September 2024 and signed on their behalf by: - Rebecca James Chair (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 2024 which are set out on pages 4 to 7. ## _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: - examine the accounts under section 145 of the 2011 Act; - 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 - 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: - to keep accounting records in accordance with section 130 of the 2011 Act; and - 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 2[nd] September 2024 On behalf of RJ Francis & Co Limited Marshall Business Centre Faraday Road Hereford HR4 9NS (3) NEWTON FARM COMMUNITY ASSOCIATION ## STATEMENT OF FINANCIAL ACTIVITIES ## (INCORPORATING THE INCOME & EXPENDITURE ACCOUNT) ## FOR THE YEAR ENDED 31[ST] MARCH 2024 |










|**Restricted**
**Unrestricted**
**Total Funds**
**Total Funds**
**Funds**
**Funds**
**2024**
**2023**
**Note**
**£**
**£**
**£**
**£**
INCOME AND ENDOWMENTS FROM:
Donations and Legacies 2 - 43,751 43,751 25,297
Bank interest received - 119 119**1**
Grants - 19,808 19,808 -
Other - 2,829 2,829 -
______
_______
_______
_______
-
66,507
66,507
25,335
______
_______
_______
_______
RESOURCES EXPENDED:
Costs of charitable activities
3
-
35,516
35,516
27,512
______
_______
_______
_______
TOTAL RESOURCES EXPENDED
-
35,516
35,516
27,512
______
_______
_______
_______
NET (OUTGOING)/INCOMING RESOURCES
-
30,991 30,991 (2,177)
______
_______
_______
_______
RECONCILIATION OF FUNDS
TOTAL FUNDS BROUGHT FORWARD
-
31,708
31,708
33,885
______
_______
_______
_______
TOTAL FUNDS CARRIED FORWARD11
-
62,699
62,699
31,708
______
_______
_______
_______| |---|---| 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 ## 31[ST] MARCH 2024 |









|Note
£
FIXED ASSETS
Tangible Assets
4
CURRENT ASSETS
Debtors
5
4,054
Cash at Bank and in hand
54,051
_______
58,105
_______
CREDITORS:Amounts falling due
within one year
6
1,081
_______
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|2024
**£**
£
5,675
3,857
24,767
_______
28,624
_______
720
_______
57,024
_______
62,699
-
_______
£62,699
_______
62,699
_______
£62,699
_______|2023
£
3,804
27,904
________
31,708
-
________
£31,708
________
31,708
-
________
£31,708
________| |---|---|---|---| The financial statements were approved and signed on behalf of the board on 2[nd] September 2024. Rebecca James Chair (5) NEWTON FARM COMMUNITY ASSOCIATION ## NOTES TO THE FINANCIAL STATEMENTS ## FOR THE YEAR ENDED 31[ST] MARCH 2024 ## 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.DONATIONS AND LEGACIES|**Restricted**|**Unrestricted**|**Total Funds**|**Total Funds**| |---|---|---|---|---| ||**Funds**|**Funds**|**2024**|**2023**| ||**£**|**£**|**£**|**£**| |Donations|-|43,751|£43,751|£25,297| |Grants Received|-|19,808|£19,808|-| |Other Income|-|2,948|£2,948|-| ||______|______|______|______| ||-|66,507|£66,507|£25,297| ||______|______|______|______| |3.COST OF CHARITABLE ACTIVITIES|||2024|2023| ||||£|£| |Rent & Rates|||167|-| |Honorarium|||18,759|16,253| |Electricity and water rates|||1,474|155| |Insurance|||645|590| |Repairs and maintenance|||4,760|5,203| |Administration|||7,965|3,990| |Telephone and internet|||318|234| |Legal and professional|||1,428|1,087| ||||_______|_______| ||||£35,516|£27,512| ||||_______|_______| (6) NEWTON FARM COMMUNITY ASSOCIATION ## NOTES TO THE FINANCIAL STATEMENTS ## FOR THE YEAR ENDED 31[ST] MARCH 2024 |4.
5.
6.|TANGIBLE FIXED ASSETS
**Fixtures &**
**Motor**
**Computer**
**Fittings**
**Vehicles**
**Equipment**
**Total**
**£**
**£**
**£**
**£**
Cost
At 1stApril 2023
5,713
-
6,959
12,672
Additions
369
2,455
-
2,824
Disposals
-
-
-
-
_______
________
________
______
6,082
2,455
6,959
15,496
_______ ________ ________
______
Depreciation
At 1stApril 2023
3,886
-
4,982
8,868
Charge for the Year
55
- 898 953
On disposals
-
-
-
-
_______
________
________
______
3,941
-
5,880
9,821
_______
________
________
______
Net Book Value
At 31stMarch 2024
2,141
2,455
1,079
£5,675
_______
_______
________
______
At 31stMarch 2023
1,827
-
1,977
£3,804
_______
_______
________
______
DEBTORS
2024
2023
£
£
Related Party Balance
£4,054
£3,857
-Wye’s Buys CIC
______
______
CREDITORS:Amounts falling due within one year
Accruals
£1,081
£720
______
______| |---|---| (7)