REPORT OF THE DIRECTORS AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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 2022
| 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 2022
| DIRECTORS: | Miss A E Walker |
|---|---|
| Mr G Canning | |
| Mrs J Wood | |
| Mr M Williamson | |
| Mr S Walley | |
| Mr A Bennett | |
| 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 2022
The directors present their report with the financial statements of the company for the year ended 31 December 2022.
DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report.
Miss A E Walker Mr G Canning Mrs J Wood Mr M Williamson
Other changes in directors holding office are as follows:
Mr S Walley - appointed 21 October 2022 Mr A Bennett - appointed 24 January 2022
Mr S Cashmore ceased to be a director after 31 December 2022 but prior to the date of this report.
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
17 February 2023
Page 2
WALTON COMMUNITY ASSOCIATION (STONE) LIMITED CHARITY NUMBER 1079053
INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022
| 31/12/21 | 31/12/22 | |
|---|---|---|
| £ | £ | |
| 34,491 | INCOMING RESOURCES | 57,862 |
| - | Direct Costs | (995) |
| 34,491 | GROSS SURPLUS | 56,867 |
| (62,363) | Resources Expended | (58,897) |
| (27,872) | (2,030) | |
| 24,500 | Other operating income | 6,240 |
| OPERATING SURPLUS/(DEFICIT) and | ||
| (3,372) | SURPLUS/(DEFICIT) BEFORE | |
| TAXATION | 4,210 | |
| - | Tax on surplus/(deficit) | - |
| (3,372) | SURPLUS/(DEFICIT) FOR THE | |
| FINANCIAL YEAR | 4,210 |
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 2022
| 31/12/21 £ Notes FIXED ASSETS 54,633 Tangible assets 4 CURRENT ASSETS 120 Stocks 5 1,672 Debtors 6 79,198 Cash at bank and in hand 80,990 CREDITORS (13,949) Amounts falling due within one year 7 67,041 NET CURRENT ASSETS 121,674 TOTAL ASSETS LESS CURRENT LIABILITIES RESERVES 121,674 Income and expenditure account 121,674 |
31/12/22 £ 54,633 120 3,270 81,215 84,605 (13,354) 71,251 125,884 125,884 125,884 |
|---|---|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 2022
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 17 February 2023 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 A Bennett - Director
Mr M Williamson - Director
Mr S Walley - 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 2022
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. Fixtures and fittings - 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 (2021 - 1).
Page 6
continued...
WALTON COMMUNITY ASSOCIATION (STONE) LIMITED CHARITY NUMBER 1079053
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
4. TANGIBLE FIXED ASSETS
| COST At 1 January 2022 and 31 December 2022 DEPRECIATION At 1 January 2022 and 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 |
Totals £ 100,284 45,651 54,633 54,633 |
Freehold property £ 54,633 - 54,633 54,633 |
Fixtures and fittings £ 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. STOCKS
6.
7.
| STOCKS | ||
|---|---|---|
| 31/12/22 | 31/12/21 | |
| £ | £ | |
| Stocks | 120 | 120 |
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31/12/22 | 31/12/21 | |
| £ | £ | |
| Trade debtors | 3,270 | 1,672 |
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31/12/22 | 31/12/21 | |
| £ | £ | |
| Trade creditors | 1,188 | 1,206 |
| Social security and other taxes | 651 | 293 |
| Key deposits | 515 | 500 |
| Co-op Community Fund | 11,000 | 11,950 |
| 13,354 | 13,949 |
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 2022 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
17 February 2023
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 2022
| 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 |
£ Incoming Resources Rents received Donations and grants Fund raising 34,491 Direct Costs Fund raising expenses Advertising of car boot sale - 34,491 GROSS SURPLUS Other income Co-Op Community Fund Grant Government grants 24,500 58,991 Expenditure Centre manager's salary Pensions Telephone Post and stationery Advertising 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 Valuation fees Lease of equipment 62,363 (3,372) NET SURPLUS/(DEFICIT) |
31/12/22 £ 52,489 3,720 1,653 546 449 - 6,240 19,750 - 868 370 318 1,138 4,006 980 - 14,324 536 3,527 107 1,384 7,476 1,060 1,464 456 300 833 |
£ 57,862 995 |
|---|---|---|---|
| 56,867 6,240 |
|||
| 63,107 58,897 |
|||
| 4,210 |
This page does not form part of the statutory financial statements
Page 9