Chaity registration wmber. 1079744 Hadley Wood Association (A company limited by guarantee) the Year En(kd 30 Sept&nber 2020 Sanjiv Sheth ACA Chartered Accountart AIMS Accouniants for SinesS 65 Fi12]'oM Avenue Bamet Hertrordslmre EN5 2HN
cOnts Trustees, Rewi Ind8peTrJent Examinerfs rq Statement of Firk3ncia Acti%ryties Bal*e Sheet 9-14
Chairnian Mr Rot£rt Grwi Wlson Trustees Mr Robert Graham Wilson Mr Rufrt Mxkay Mfs Elizabeth Srwe Principal oifice HWA Centre 1.7 Cres(*nt East Hertfor(tshire EN4 OEL Company registration number ctrwity is it¥x)rrK)rated in EThJlaTrJ) 1079744 Indepdtt Examiner Sanjiv st ACA 65 Frtzioth Avenue Bamet Hertfcydshire EN5 2HN
Ha(ley Wood Associalion Objectives, strategies and activilies The income assets of the ct are soldy the wony)b'cm of ts 0"@cts as set t in Artid8s of ASslati(l. In SUmmy. these are. . To athrce education arKI FThide faciliti8s for rewtion aThJ leisure. . To weswve, protect and imwwe feS of historic fx putAic interesL For everyone in 2020 the restricti(Y caused by the Covid19 paThJemic have been significant, and the AS$(latI( is no th"fferwi eyw511vJ a sharp frdll in inG(xne thill continue well into 2021. At end of main uws ffenrlls. PrtrSth)d. DarKe and Bridge) suspendwj activtties. All private bcK)kings were cancelled aNI have t t restd. We were pleased when both Tennis have been able to restarL We sucsfUllY applied ts COVKI ffi SLVFK¥t arxl have received £10.000 we treat as £5,orJ) in each of 2019r20 aid 2021y21) h&$ wtialy clfset the loss of inccme. On a positive note the membwsFdp conts"rKwJ to grtr, vAth over 1CKI members in the year and over 600 in total. This or¥JoirKJ suppcll is both e1c0 e$tial to the viability of the Asscxiats"on. Upgr Irks. but even V•ith Covid ovrfl def of £3,[ is still reported. Unforbjnaiely the dIsnyti the to Covid19 is orMJoir¥J. a1 ts populw anrxHI firkS wt November 2020 has been caKelled. As 11 as a greai jaI gathering. this is an imwrtant fijndraiser for the Associa So prqecti"rvJ fcTh¥d to 202(f21, the Trustees are bgetir¥j for a more signtficant loss of betknEen £10.(XX) aid £15.(KX). wilh a [eaSlIe minimum of upgrade We continued to cwnpaign and lobby c1 behalf of the commmity. Y)rking vath partner organisations indudirvJ the Halley WOCKI Neighfxx¥h[ PlaMiThJ Fonun, The NeigftxyJrtKxyJ Watch, Hadley Wooj seIty, the Chwth and SyrHgogue. ar#1 our local CoKlI0r5 arKJ pole. We liaised V•ith trEse avj other C(XTrmty groy to efU[e that vulnerable residents received support duriFYJ ts rst restriGkns of the Covid19 crisis. aid we made SU that Ihe Open Space around the Centre ¥vas always open pjblic enjoyment and exercise. The Trusteés continue to monitor the cWes to CovÉd19 guidan xl the Association is ready to reSpd to any new chaileryes. The Association led the COMMlty respcA)sé to the prcposal to biald a 50 bedro(xn tye home on Crescent East alongside overl(x%kirg the Conservalion Area There vfas overthtdmvig cOn that the scale of the devdwent TrKdS (Xrt of character the quid village of Hadley Wood, aThJ that trte loss of mature trees and garden land vras vwy detrimental to b.]diVersIty and climate change. ArKJ the ASsCKian continues to chartsJes to plning law pol.tcy trkit could negatively impact the area.
Hadley Wood Association Trustees. Report (continued) The Hadley Wood is r lo¢al magazine. <kstributed free of thrlXrt Ihe Socal area roughly six times a yw. tr#s year we have IShed a¢kJrti iSSU8s in resp(xw to the challerKJes of Covi(¥19. Statement of Public Berfrt The trustees confirm th they have cornplRd with the wrements of section 17 of the Charities Act 2011 to have due regard to the efft guidance wblished by the Chanty Commission for ErYJlarKI Wales. Objectives and policies The dritS l¥ll1e& expose it to a number of risks Indj11vj uedit risk, cash I risk arKI liquith'ty risk The trustees tove asses1 the major risks to lch the orwisation is exposed. in particular. those thich may affect their (wations and fin, and axe satisfi1 that there are sufficient systems in place to miw exposure to My4 risks. Cash flow risk Interest bearing assets liabilities we hdd at fad rate lo ensure of cash flo+A. Credlt risk The chantys wIr1P finar181 assets we bk bnc8s cash. trade ar other receab, and investments. Thè chartys cradit risk is primarily attrilxrtable to its mambars, subscriptson d$. athrfertisars, events Spr50r$ and Ihe vithilty of usw grolp lic5. Tho amwnts eSen in the balance sheet we net of doubthil receiv8bles. An alkrwarKe for Impalrnnt is made Ythere there is an identified loss event lCh. based on previous eyw1. is evidence of a redtion in the recovwthlty of the txkfllyws. subscfibw base, alvertisers arxl th8 user gr(p lic8n. Liquldlty rfsk In order to mainLin liquithty to ensure that SuirKa are availate ft)r woiNJ operakns and future devdopments, the charity hold a sufficient mixiurg cash balw in irtstant access and call deposit aCcOts ith reputable UK finanoal instittrti¢)ns. Further detsils regardIr liquithty risk be fow¥J in ts Slaknn¥l d acc(yJrfing policios in the financial statemenL The annud rewl was 0Ved by the trustees cl the ctrHrity on 27 Novwnbw 2020 and sign8d on its half by: MrR Graham lSOn ChaimiaN arKJ Trustee
StatThnt of Trustees. Responsibilities The trustees (WI5 are also the OreLkns of Hadley Wood Assouth fty fv wry>oses of c(xnwy law) are responsible for preparing the trustees, report aThJ the financial statements in a(£ordance with the United lfjngdom ACCting stand (Urthd GwHaly Accepted Ac£(Kmting Practice) and applicable law and regulalions. Company law requires the trustees to prepare finaKaa stat] for e&h financia year. Under company law the trustees must not approve the financial stateMts lesS they are satisfied that they gi a true and fw"r %ryew of the state of affars of Ihe (aritable company and of its incoming resources and ¥plIcats. of reSr. irKludirKJ ts and expenthth. for that period. Sn prewirKJ these financaal statts. the tntstees are required to: • ObSee ts methods and prirKiples in Ihe Chiti8s SORP * make JLVJgeThts aNI eslimates that are re&sonable K1 PNdeEt . state wfiettw appltcable UK AccolIng Staidards have bw folkyhEd, subject to any maierial dep¥tures disclosed and explained in financAal statements: and ' prepare the financia statents the going coKem basis unless it is irwpropriate to time the finaTrial tmjsitirm of the charitatAe ¢(xnpany enable them to that the finanrial statements crKnply with the Companies Act 2[. Tttey are also responsible for safeguarding the assets of the ¢tltable company arKI hence for taking reasonable steps for the prevention and Approved by the trusts of Ihe chity on 27 NOV 2020 and signed C its behaf by: Mr Rcthrt Graham Wilson C1Jaim arKI TNstee
Hadley Wood Association
Independent Exanunerfs report to the Trustees
I rep(Kt to the chlty Irustees on my &Y2minaiion cé the acc4wnts of the chwity for the ye¥
ended XS September 2020 set out on pwjes 6 to 14.
As the charity's trustees of Hadley W
Ha(ley Wood Association Statement of Financlal Athitses for the Year Ended 30 September 2020 (Including Income and Expenthre Account and Statement of Total Recogntsed Gains and Losses) Total fun(ts 2020 Total 2019 Income and End¢ya7ments from: Donations and gffs Charitable &tiviti"es Investrnent irKome 210 75.255 210 75.255 63 420 83,501 114 Total income 75,528 75.528 Expenditurn on: 76,380 1.712 1.712 78.092 Total expenditure 78,092 Net movwnent in funds (2.585) (2, Racompilation rf funds Total funds brought forward Release of restricted funts 130.322 130.322 130.317 Total funds carried forward 127.757 127,757 130,322 All of the charitvs activitie5 derive from (xffllirvJirKJ owaiKmS durHvJ above i) perirmts. The ndS breakd(w is sPKhvn in rttxe 11
(RestratIon number. 03904084) Balance Sheet as at 30 September 2020 Total 2019 funds 2020 Fixed Assets Tangible assets 57,193 57.193 67,279 Stocks Debtors Cash at bank and in hand 547 5.6 82.521 547 5.69) 82,521 5.525 71.741 10 88.758 88.758 T/.974 Creditors Amounts fallirvJ dLE within one year 11 (18.194) (18,194) (14.931) 70,584 63,043 Total asset le currffit - liabllltles 127,757 127.757 130.322 Net Asset 127.757 127.757 130,322 Funds Unrestricted funds Designated fuThJs Restricted fijnds 126.630 1.128 121,321 9,(K)1 Total funds 12 127.757 130.322
Ha(ley Wood Association (Reglslrati(m nunrt>er. 03904084) Balance Sheet as at 30 September 2020 (continued) For the finanfaal year ending 30 Seoefflb 2020 chanty vrds Illed to exemptm from alIt urKler sattion 477 of Companies Act 2(th relating to smal comwies. Directors, resprmsikn"lities: . TrE members have not required the charity to otrtain an a111 of its accowts for the year in question in accudm 4%ith section 476" *KI . The directors acknthyledge their responsibilities for ¢iPlYi the requirements of These aCCnts have been Fyepared in >[d vfith the provisions 4)plthble to companies su4ect to the small c¢xnpar#es regime. The financial statwnents on pages 6 to 14 wefe aFprod by Ihe trustees. aThJ aulhorised for issue on 27 November 2020 signed on their by. Mr Rotwt Graham Wilson Chaim)an ar¥J Trustee
Hadley wor Association Notes to the Financial statem for the year ended 30 September 2020 1. Charfty status The charity is limited by guarantee, irwrated in Engknj, and consequenty does not have share caprtal. Each of the trustees is iith to ccxtbute an amount not exceeding £1 the assets of the d)arty in event of liquidats"on. The address of its registwed ¢)ffic . HWA Centre 1-7 Crescent East Barnet Hertft)ndshire EN4 OEL These fintial Statemlts we arfhNised for issue by Ihe trustees on 27 Nolember 2020. 2 Accounting policies Summary of significant accounting policies and key accounting estimates The prirKipal accounting policies applied in tre yeptiOn of these fin1 statements are set ¢xrt bekw. These tfjve been applied to all the years pres&tted, unless ottlse stated. The finanoal statements have been prepared in e0rdce lti ACcntIng RetKYting by Ch9rities". Slatement of Recommended Praclice appkable to charities preparirvJ Iheir aUnts in aCdar ith the Finaraal ReFthrKJ s&lard appIlble in the UK and Republic of Ireland (FRS 102) (eff&Xive 1 January 2015) - (Chantses SORP {FRS 102)), Financial Repts'n9 Standard ryplit2ble in the UK arKJ Rewblic of IrdaThl (FRS 102). They also comrAy wilh the C(xnparxes Act arnl Chatiljes Act 2011. Basis of preparation Hadley WorJ AssocAatN)n meets th8 definition of a 11¢ benefit tity KIer FRS 102. Assets arm4 liabifities ¥e inthafy reCOgned at historical cost traCl10n value unless Going concern The Charity has retxxied a deftit for d to the loss of income arisng ftrn Covid19. However, through twJhter c&sh Malw utilisiThJ swplus res and the ability to cal on support frrxn the subsr¥iber base, ts trustees c(xNdor thai there are no material uncertainb.es atout CharrtS abilty to continue as a g(Mng concwn n( any slgrufnt areas of uncertatnty Ihat affect the carying Val of assets fEld by the Chanty. The chanty opted to earty adcpt lletn 1 pthlished on 2 Febru 2016 arKI have thtrefore not Ind a cash11(w4 statement in Ihese fin¥Kial statements.
Hadley WLXXI Association Not•s to the Financial statem for the year ended 30 September 2020 Income and endowm All income is recognised orKe tt charity has tinent to the incc¥ne, it is probable that the inctme will be reiVed arKI ts arnnt of the income receivabl8 can be measured reliably. Donations and legacies Donations are recognised the cBrity has been nolified in ltirKj of both the amount and settlement date. In the event that a d(atitin is sutr¥"ect to conthtions that r&]uire a level of perf(Ymarte by ts dArity before ts charity is enliued to the fts. the irthme is deferred and not recognised until either those conditsons are fulty me( or the fulfilment of those condttions is %tdly %%ithin the c(xrtrol of the chty ar it is wowe that th8Se conditions will be ffilled in ts re[ing PWK)d. Expenditure All eXpd[lure is recconised once there is a legal or CSITU1 (Jligation to that expenditwe. it is probable settlaneni is required arml the amtsjnt can be measured relh3bly. All costs are all¢xated to1he aFWKable exP£tsJre heaJir¥J that aggregate similar costs to that cegory. Where costs 12MOt be d• attributed to parti[ar headiros they have allocated on basis of time spen( and deprecialion charges alkxated on the of the assefs use. Otsr suppcrt costs are allocated based on the spreal of staff costs. Raising fvnds Charitable activities CharitatrAe expendrture comprises tFM)se Ccjsts irthrred by Ihe chanty in Ihe d1v of its activities and SerViS for its beneficiaries. It Iles both costs that can te allocated directy to such aclivities and those costs of an in(&rect naiure necessary to support tr£m. Support costs Support c¢)sts irKe centra fctIS bn allLrated to actTriity cost categories on a basis (x)nsistent the use of res0w, f(Y examF4e, allocatirvJ propty costs by fi¢ areas. p8r caiita. staff cosis by the time spwit aTrJ other costs by their usage. GovemanGe costs These include the costs attr)utsble to the ch1$ 0)mpli with constitutional and statutw requirements, Inc1ing i[¥JeF¥t exninatJn, strategic management and Tangible fixed assets Individual ftxwj assets costing £1.(KKI or mc*e are irmljally r)rded at less any subsequent lmulated depreciati(m arxj sthequent lMulated impaiment losses. 10
Hadley Wood Association Notes to the Financial Statefflts for the year ended 30 septeMr 2020 Taon The chaiity is considered to pass the tests set (xjt in Paragratth 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a tharitable company for UK c(xporation tax purposes. Accordingly. the tharity is POtlatY exempt fft)m taxab.on in respect of income or capital gans received Titr¥n cewies covered by Chapter 3 Part 11 of the C(Yporation Tax Act 2010 or SectM)n 2 of Taxati of Charge Gains Act 1992, to the ext&rt that such irorne gains are applRd ex(knivdy to che4itth p Depreciation and amortisation Depreaab'on is provided on tangible fixed assets so as to ¥t8 off th8 Cost or valuation. less any estimated residual vaue. over their expe(led use1 economic Itfe as foll(Y4VS.' Asset ¢lass Plant & machiwy Fixtures, fith'ry & equipmar Over f(r years Ow years Stock St(k is valued at the lOT of cost eslimaled selling prre less costs to complete and sell, after due regard for >s(ete skw moving Stocks. Cost is determ1 using the first-in, first-out (FIFO). Trade debtors Trade debtS are recognised inibaty at the traaLkn price. They are subsewenty measured at amortised cost usir¥J effe(XFve inlerest method, less tovision for impaimw A provisv)n impamient of traje debt(Ys is estished thwe is objective evidence that the charity wiu ncrt be th to collect all d xcordiro to the cryinal tenns of the receivables. Cash and cash equlvalents Cash and cash equival&ts corn15e cash at brt cm h¥#J arxj call depo&ts. Trade creditors Trade creditors are obligati(S lo pay for Servi that fAve been wu11] in the ordinary course of business from suppliers. AcAxwts payable are dassified as Current liabilities rf the charity does not have an urtorx11ki(al ngh( at Ihe end of the reprffting period, to defer $etUeMtt of the fry at least telve rrK)nihs aftw the repIrj date. If there is an unccndrtional rKJht to defer settlrfnent least m<xth after the rewting date. they are rKesented as notFcurrert liabilities. Trade creditors are recognised initially at subw4uerty measured Fund structure Unrestricted inu)me thnds we gewdl funts tfgt available fty use at the trustees, 11
Notes to the Flnanclal Stst¢m¢nts for the year ended 30 September 2020
Income from charitable activbtses
2019
Membersf#p subsuip
User groups
Fireworks and s
5a. Building repair5 and maintenance 2019 121 Fire safety mantenants afvJ certificatic Intruder akqrm MaIntenCe ar¥J ceTtsfKat 1,165 2.742 1,807 3,911 10.684 Equipment Mis¢ellarBws vffjrks 11,555 15,059 Net incomingloutgoing rosourees 20X) 2019 Net resree$ a stated aftw dwgwuI(ufknj): Depreciation 10.085 570 7,9CM) 570 7. Staff costs The average numbw anrAoyee t*wiThJ ts year vras 0.5 {2019: 0.5) No trustees received remunerati1 reimbwwJ )en thring the Y {2019: £nil) TANGIBLE FIXED ASSETS fittings Totsls COST At 1 Ociober 2019 A(klilior 111.995 28,734 186.264 At 30 Setthiber 2020 111.995 28.T34 25, 166,264 DEPRECIATION At 10(knber 2019 Charge for y 2S,140 3.5 24.763 5.719 10,085 54.8)1 28,734 109.071 NEf BOOK VALUE At 30 September 2020 57.193 57,193 At 30 Septernb 2019 62,912 3.594 772 67.279 13
Notes to the Financld Statements for the year ended 30 September 2020 Debtor5: Amounts falling due within one year 2020 2019 1.8 Prepaymwts 5,69) 5,525 10. Banking In 2020 assoc4ation's primwy bk acc4yJnt vras from Natwest to Unity 11. Creditors: Amounts falling due within one year 2020 2019 Trade crethtors 6.420 Accruals aThJ ¢ferred irKome 10,6d6 1.128 3.890 9,(X)1 18.194 14,931 Othw creditors indudes Ihe balance of a grant received from Grwndwotk UK which is being held on behalf of the Hajley Woc<J NaghtxxyfrcI Plarning Forum. TIE balar as at the yeard £1.128 (201. £9.1). 12. Movement in funds Balance at Incoming irtgOIng Balance at 0111(Y2019 resources TOrCeS Trnnsfer5 30A2020 General fund Deswjnated fut¥J 121.321 75.528 (70.220) 873 78.092 126,630 1,128 127.757 130,322 75,528 Restricted fun¢ts 14