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 cOn￿ts Trustees, Rewi Ind8peTrJent Examinerfs rq Statement of Firk3ncia Acti%ryties Bal*￿e Sheet 9-14 Chairnian Mr Rot£rt Gr*wi Wlson Trustees Mr Robert Graham Wilson Mr Ruf*rt 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 Indep￿d￿tt 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 ASs￿lati(￿l. In SUmm￿y. these are. . To athr￿ce education arKI FThide faciliti8s for rewtion aThJ leisure. . To weswve, protect and imwwe f￿￿eS of historic fx putAic interesL For everyone in 2020 the restricti(Y￿ caused by the Covid19 paThJemic have been significant, and the AS$(￿latI(￿ is no th"fferwi eyw5￿11vJ a sharp frdll in inG(xne thill continue well into 2021. At end of main uws ffenrlls. PrtrSth)d. DarKe and Bridge) suspendwj activtties. All private bcK)kings were cancelled aNI have ￿t ￿t rest*d. We were pleased when both Tennis have been able to restarL We suc￿sfUllY applied ts COVKI ffi SLVFK¥t arxl have received £10.000 we treat as £5,orJ) in each of 2019r20 aid 2021y21) h&$ 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* I￿rks. but even V•ith Covid ovrf*l def￿ of £3,[￿ is still reported. Unforbjnaiely the dIsnyti￿ the to Covid19 is orMJoir¥J. a￿1 ts populw anrxHI fir￿￿￿kS 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 b￿getir¥j for a more signtficant loss of betknEen £10.(XX) aid £15.(KX). wilh a [eaS￿lIe minimum of upgrade We continued to cwnpaign and lobby c￿1 behalf of the commmity. *Y)rking vath partner organisations indudirvJ the Halley WOCKI Neighfxx¥h[￿ PlaMiThJ Fonun, The NeigftxyJrtKxyJ Watch, Hadley Wooj se￿Ity, the Chwth and SyrHgogue. ar#1 our local Co￿K￿lI0r5 arKJ pol￿e. We liaised V•ith trEse avj other C(XTrm￿￿ty groy to ef￿U[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 reSp￿d to any new chaileryes. The Association led the COMM￿lty 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 cO￿n 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 ASsCKia￿n continues to chartsJes to pl￿ning law pol.tcy trkit could negatively impact the area. Hadley Wood Association Trustees. Report (continued) The Hadley Wood is ￿r lo¢al magazine. oses of c(xnwy law) are responsible for preparing the trustees, report aThJ the financial statements in a(£ordance with the United lfjngdom ACC￿￿ting 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 stateM￿ts ￿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 reS￿r￿. irKludirKJ ts and expenthth. for that period. Sn prewirKJ these financaal stat￿￿ts. the tntstees are required to: • ObSe￿e ts methods and prirKiples in Ihe Ch*iti8s SORP * make JLVJg￿￿eThts aNI eslimates that are re&sonable ￿K1 PNdeEt . state wfiettw appltcable UK Acco￿lIng Staidards have bw folkyhEd, subject to any maierial dep¥tures disclosed and explained in financAal statements: and ' prepare the financia stat￿ents 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 ¢t￿ltable company arKI hence for taking reasonable steps for the prevention and Approved by the trust*s of Ihe ch*ity 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 ch￿lty 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 matters have c(xne to my att￿tion in 1. accounting ret kept in respe(* of Ha(ley W￿d AS$￿￿all(￿ as required by secti(m 386 of th8 21Th Ac¢ L 20[￿ Act othw than a)y requirement that the acujwtts give a and far view which 4. the accounts have rnt b*n prepared in ￿0rdar￿ with the mettv)ds arKI rxinciples of the Statement of Rec¢ynmerKled Practice for acc￿nIEn9 reporb'rvJ by charities (applicable to dlarities prewirvJ their xcowlts in acc(*dance ¥￿th the Financial Rewrt"ng Standard applicable in the UK ar¥J Re[￿11¢ ￿ I￿land (FRS 102)]. I have no corttms and have come &ross no other matters in conneclion vath the examirthion to vthich attention slmxthl be in this rw in ￿der to enable a prop understanding of the accounts to be reacheer. 03904084) Balance Sheet as at 30 September 2020 (continued) For the finanfaal year ending 30 Seoefflb￿ 2020 chanty vrds ￿￿Illed to exemptm from a￿lIt 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 a￿111 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 aCC￿nts 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 aFpro￿d 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 ccx*tbute 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 fin￿tial Statem￿lts 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 yep￿tiOn of these fin￿1￿ statements are set ¢xrt bekw. These tfjve been applied to all the years pres&tted, unless ott￿￿lse stated. The finanoal statements have been prepared in ￿e0rd￿ce ￿lti ACc￿ntIng RetKYting by Ch9rities". Slatement of Recommended Praclice appkable to charities preparirvJ Iheir a￿Unts in aC￿dar￿ *ith the Finar*aal ReFthrKJ s&￿lard appIl￿ble in the UK and Republic of Ireland (FRS 102) (eff&Xive 1 January 2015) - (Chantses SORP {FRS 102)), Financial Rep￿ts'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 Wor*J AssocAatN)n meets th8 definition of a ￿￿11¢ benefit ￿tity ￿KIer FRS 102. Assets arm4 liabifities ¥e inthafy reCOgn￿ed at historical cost ￿ tra￿Cl10n value unless Going concern The Charity has retxxied a deftit for d￿ to the loss of income arisng ftr*n 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 Charrt￿S abilty to continue as a g(Mng concwn n(￿ any slgruf￿nt areas of uncertatnty Ihat affect the carying Val￿ of assets fEld by the Chanty. The chanty opted to earty adcpt ￿llet￿n 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 ￿ti￿￿nent to the incc¥ne, it is probable that the inctme will be re￿iVed arKI ts arn￿nt of the income receivabl8 can be measured reliably. Donations and legacies Donations are recognised the c*Brity 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 f￿￿ts. 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 eXp￿d[lure is recconised once there is a legal or C￿SITU￿1￿ (*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 c*egory. 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 d￿1v￿ of its activities and SerVi￿S for its beneficiaries. It I￿￿￿les 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 ir￿K*e centra f￿ctI￿S b￿n 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 ch￿1￿$ 0)mpli￿ with constitutional and statutw requirements, Inc1￿ing i[¥JeF￿¥￿t ex￿ninat￿Jn, 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 Stateffl￿ts for the year ended 30 septeM￿r 2020 Ta￿on 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 POt￿latY exempt fft)m taxab.on in respect of income or capital gans received T**itr¥n c*ewies 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 ir￿orne ￿ 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 use￿1 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 lO￿T 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 debt￿S are recognised inibaty at the tra￿aLkn price. They are subsewenty measured at amortised cost usir¥J effe(XFve inlerest method, less t*ovision for impaimw A provisv)n impamient of traje debt(Ys is est*ished 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 corn￿15e 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 $etUeM￿tt of the fry at least t*elve rrK)nihs aftw the rep￿Ir￿j date. If there is an unccndrtional rKJht to defer settlrfnent least mte 5a) 9.696 10,684 8.947 15.059 6.673 4,911 9.760 3.432 1,203 Rates and Utiliti85 c￿aniNj Insurance offi￿ expense Telephone and broad 4.525 7.303 935 1.637 59.488 Legal and wofessional fees 13 1.140 13 1,140 Trustee & m￿berShIp A(knin Bank Cl￿rgeS 559 509 1,712 3.462 84.030 12 5a. Building repair5 and maintenance 2019 121 Fire safety mantenants afvJ certificatic Intruder akqrm MaInten￿Ce ar¥J ceTtsfKat 1,165 2.742 1,807 3,911 10.684 Equipment Mis¢ellarBws vffjrks 11,555 15,059 Net incomingloutgoing rosourees 20X) 2019 Net res￿ree$ a￿ stated aftw dwgwuI(u￿fknj): 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 b￿k 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