## **REPORT OF THE DIRECTORS AND** ## **FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2021** ## **FOR** **WALTON COMMUNITY ASSOCIATION (STONE) LIMITED CHARITY NUMBER 1079053** **WALTON COMMUNITY ASSOCIATION (STONE) LIMITED CHARITY NUMBER 1079053** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ||**Page**| |---|---| |**Company Information**|1| |**Report of the Directors**|2| |**Income Statement**|3| |**Balance Sheet**|4| |**Notes to the Financial Statements**|6| |**Report of the Accountants**|8| |**Detailed Income and Expenditure Account**|9| **WALTON COMMUNITY ASSOCIATION (STONE) LIMITED CHARITY NUMBER 1079053** **COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2021** **DIRECTORS:** Miss A E Walker Mr G Canning Mrs J Wood Mr S Cashmore Mr M Williamson **SECRETARY: REGISTERED OFFICE:** Whitemill Lane Walton Stone Staffordshire ST15 0EQ **REGISTERED NUMBER:** 03638526 (England and Wales) **ACCOUNTANTS:** Wynniatt-Husey Ltd Chartered Accountants The Old Coach House Horsefair Rugeley Staffordshire WS15 2EL Page 1 ## **WALTON COMMUNITY ASSOCIATION (STONE) LIMITED CHARITY NUMBER 1079053** ## **REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 DECEMBER 2021** The directors present their report with the financial statements of the company for the year ended 31 December 2021. ## **DIRECTORS** The directors shown below have held office during the whole of the period from 1 January 2021 to the date of this report. Miss A E Walker Mr G Canning Mrs J Wood Mr S Cashmore Mr M Williamson Other changes in directors holding office are as follows: Miss P A Hill - resigned 31 August 2021 This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. ## **ON BEHALF OF THE BOARD:** Miss A E Walker - Director 21 January 2022 Page 2 ## **WALTON COMMUNITY ASSOCIATION (STONE) LIMITED CHARITY NUMBER 1079053** ## **INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021** |31/12/20||31/12/21| |---|---|---| |£||£| |33,299|**INCOMING RESOURCES**|34,491| |(110)|Direct Costs|-| |33,189|**GROSS SURPLUS**|34,491| |(61,403)|Resources Expended|(62,363)| |(28,214)||(27,872)| |38,270|Other operating income|24,500| ||**OPERATING (DEFICIT)/SURPLUS and**|| |10,056|**(DEFICIT)/SURPLUS BEFORE**|| ||**TAXATION**|(3,372)| |-|Tax on (deficit)/surplus|-| |10,056|**(DEFICIT)/SURPLUS FOR THE**|| ||**FINANCIAL YEAR**|(3,372)| The notes form part of these financial statements Page 3 ## **WALTON COMMUNITY ASSOCIATION (STONE) LIMITED (REGISTERED NUMBER: 03638526) CHARITY NUMBER 1079053** ## **BALANCE SHEET 31 DECEMBER 2021** |31/12/20
£
Notes
**FIXED ASSETS**
54,633
Tangible assets
4
**CURRENT ASSETS**
120
Stocks
65
Debtors
5
86,467
Cash at bank and in hand
86,652
**CREDITORS**
(16,239)
Amounts falling due within one year
6
70,413
**NET CURRENT ASSETS**
125,046
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**RESERVES**
125,046
Income and expenditure account
125,046|31/12/21
£
54,633
120
1,672
79,198
80,990
(13,949)
67,041
121,674
121,674
121,674| |---|---| The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for: - (a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The notes form part of these financial statements continued... Page 4 ## **WALTON COMMUNITY ASSOCIATION (STONE) LIMITED (REGISTERED NUMBER: 03638526) CHARITY NUMBER 1079053** ## **BALANCE SHEET - continued 31 DECEMBER 2021** The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Board of Directors and authorised for issue on 21 January 2022 and were signed on its behalf by: Miss A E Walker - Director Mr M Williamson - Director Mrs J Wood - Director Mr G Canning - Director Mr S Cashmore - Director The notes form part of these financial statements Page 5 ## **WALTON COMMUNITY ASSOCIATION (STONE) LIMITED CHARITY NUMBER 1079053** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## 1. **STATUTORY INFORMATION** Walton Community Association (Stone) Limited is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. ## 2. **ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Incoming resources** Income is included in full in the Detailed Income and Expenditure Account when receivable. The value of services provided by volunteers has not been included. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery etc - 25% on cost ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **Pension costs and other post-retirement benefits** The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. ## **Grants** Grants, including grants for the purchase of fixed assets, are recognised in full in the Detailed Income and Expenditure Account in the year in which they are receivable. ## **Resources expended** Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered. ## 3. **EMPLOYEES AND DIRECTORS** The average number of employees during the year was 1 (2020 - 1). Page 6 continued... ## **WALTON COMMUNITY ASSOCIATION (STONE) LIMITED CHARITY NUMBER 1079053** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** ## 4. **TANGIBLE FIXED ASSETS** |**COST**
At 1 January 2021
and 31 December 2021
**DEPRECIATION**
At 1 January 2021
and 31 December 2021
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020|Totals
£
100,284
45,651
54,633
54,633|Land and
buildings
£
54,633
-
54,633
54,633|Plant and
machinery
etc
£
45,651
45,651
-
-| |---|---|---|---| The freehold property in fact belongs to Stafford Borough Council and not the company, its value was removed from the balance sheet in the financial statements for the year ended 31st December 2013. However the company does own the playing fields adjacent to the freehold property. These playing fields are subject to a covenant restricting their use to "recreational purposes only". The area of these fields is 4.5 acres or 1.8211 hectares. The valuation has been estimated by the directors at £30,000 per hectare so making a total valuation of £54,633. The covenant also stipulates that, in the event of the company wishing to sell these fields, they must first be offered to Fields in Trust (formerly the National Playing Fields Association). As the company has no intention of selling the fields, the directors felt it to be an unnecessary expense to engage the services of a professional valuer. ## 5. **DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** ## 6. |**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |---|---|---| ||31/12/21|31/12/20| ||£|£| |Trade debtors|1,672|65| |**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| ||31/12/21|31/12/20| ||£|£| |Trade creditors|1,206|3,240| |Taxation and social security|293|499| |Other creditors|12,450|12,500| ||13,949|16,239| Page 7 ## **WALTON COMMUNITY ASSOCIATION (STONE) LIMITED CHARITY NUMBER 1079053** ## **REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF WALTON COMMUNITY ASSOCIATION** ## **(STONE) LIMITED** As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2021 set out on pages three to seven and you consider that the company is exempt from an audit. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. Wynniatt-Husey Ltd Chartered Accountants The Old Coach House Horsefair Rugeley Staffordshire WS15 2EL 21 January 2022 This page does not form part of the statutory financial statements Page 8 ## **WALTON COMMUNITY ASSOCIATION (STONE) LIMITED CHARITY NUMBER 1079053** ## **DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021** |31/12/20
£
32,389
310
496
104
38
72
9,620
-
28,650
20,209
-
899
74
100
2,761
1,120
506
16,918
-
3,325
55
1,285
7,331
1,412
3,993
582
833|£
**Incoming Resources**
Rents received
Car boot income
Membership fees
Fund raising
33,299
**Direct Costs**
Fund raising expenses
Advertising of car boot sale
110
33,189
**GROSS SURPLUS**
**Other income**
Furlough payments received
Co-Op Community Fund Grant
Government grants
38,270
71,459
**Expenditure**
Centre manager's salary
Pensions
Telephone
Post and stationery
Cleaner
Cleaning materials and
window cleaning
PRS, TV and other licences
Bottled water
Repairs and renewals
Donations made
Insurance
Sundry expenses
Gardening
Gas and electric
Water
Secretarial and bookkeeping
Accountancy
Lease of equipment
61,403
10,056
**NET (DEFICIT)/SURPLUS**|31/12/21
£
34,491
-
-
-
-
-
-
12,000
12,500
11,537
34
410
182
-
3,069
1,121
540
29,943
100
3,382
95
2,064
5,569
1,272
1,792
420
833|£
34,491
-
34,491
24,500
58,991
62,363
(3,372)| |---|---|---|---| This page does not form part of the statutory financial statements Page 9