Conyany rwstration number: 03904084 Charity registration numbeT.' 1079744 Hadley Wood Association (A ￿rnPany limited by gLiarantee) Annual Report and FinancFal &atements for the Year Ended 30 September 2022 Sanjiv Shelh ACA Chartered Accountsnt AIMS Accountants for Business 65 Fitzjohn Avenue Barnet Hertfordshire ENS 2HN 1111 111111 *A14P6440* 3110512023 COMPANIES MOUSE A10 *35 Hadley V4ood Asso¢iatlon Contents Reference and Administrab¥e Detsils TnTrsteÈs' Rewl Statement of Tnjstees. Resp￿￿})1￿1eS Independent Examw)erfs report Statement of Financial Aclivrfies Balance Sheet Notes lo Ihe Financial Smements 9-15 HWA Green Bett Fund Incom¢ and Expenthiure Account 16 Hadley W¢)od Associatio Reference and Administrative Detalls ChaimwTr tr Robert Graham Wilson Trust*e5 Mr Robert Graham Witson Mr Rupert Mackay Mrs Elizabeth Snape Prineipal Office HWA Centre 1-7 Crescent East Barnet HertfoTdshire EN4 OEL ompany registralion number 03904084 (The Chaiity is incwiated in En4and) Charity registration number 1079744 Charity website http'.l/Www.hath￿v00d.rryu*1 Indèpèndent Examiner Saniiv Sheth ACA Chartered Accountant MS A¢¢ountants for PAtsiness 65 Ftyhn Avenue Barnet Hertfordshire EN5 2HN Hadley Wood Association (Charity number. 1079744) Trustees. Report The tnjstees, who are directors for the purposes of company law. present the annual report together Ihe financial statements ofthe charttable company the year ended 30 September 2022, in complian¢e wrth $414C ofthe Cornpanie5 2CIQ6. Objedives. stralegi¢s and aclivities The income and assets ol Chaiity are apphed solely towards the promotion of its objects as set out in the Arb'des of Associalion. In summary. these are", • To promote Ihe benefit and irryrove the condNÈons of lrft of the inhabitants of Hadley Wotyj. . To ar keeping adequate acctyjnb.ng records that are 5uffic4entlo show ?nd explain the charitable companys transactions and disdose reasonable accuracy at any lirne the financial position of Ihe charitable compaTry and enable them to ensure Ihat the financ?al staternent5 comply with the Companies Ad 2006. They are also responsible loi safeguarding the assets ol the charbtable company and hence for taking reasonable step5 fw the we¥ention and d*te¢bon of traud and olher irregularities. Approved by Ihe trustees of the Charity on 2$ and signed on rts behaw by.. MrRo ert Graham Chairman an Hadley Wood Association Independent Examinerfs report to the Trustees for the Yur Ended 30 Septembftr 2022 I report to the Charity tnJstee5 on my examinab.on ol the a¢crA￿ts oflhe Charity lor the year ended 30 September 2022 Nyhith are set out M pages 6 10 15. Respective ￿spOnSibl11t•￿s of tswsle•s and examin As the Charity's trustee5 of Hadley Vvood Associaltgn (and also its diredoT5 for the puiposes of company lawl you are re5pon8ible for the preparalion ofthe acrA)unts in accordance wth the requirements ol the Companie5 Act 2006 (Yhe 2006 Act"). Having sal'sfied mysell th•t the accoutts of Hadley Wood Association are not required to be audited und•r Part 16 01 Ihe 2006 Aet and are ell￿ble for independent examination, I report in iespect of my examinakn.on ofyour Chafrty's accounts as carried out under section 145 01 th¢ Charities Act 20111'lhe 2011 Act.). In ￿TryIng Out my examinabon I have followed the Direcb"ons given by the Charity Commission under SeUii)n 145ISXbl of the 2011 Act. Ind¢p¢ndent exominÈr's slaterD*nt I have rompleted my examination. I confirm thal no matters have come to rny attention in ¢onneclion with the examination ￿'Ving me rAuse to believe.. l. accounts.ng records were not kept in respect of H8dey Wood K450ciath"on as required by section 386 01 the 2006 Act", or 2. the accounts do not accord with those records. or 3. the a¢¢ounts do not comply ¥Alh Ihe accounting rtrquiremenls of secbon 396 01 the 2006 Act other than any requirementthat the accounts ￿ve a Irue and fair.view vA)i¢h is not a malter considered as part of an independent examination,. or 4. Ihe accounls have not been prepared in accordance with the method5 and principles of the Statement ol Recommended Practice foi accounting and feporbng by ch8rrties lapplicable lo charllies preparing their a¢￿unts in accordance wilh Ihe Firbantial Reportin9 Standard 8ppii¢ablÈ in the UK and RepulJh"c ol Ireland IFRS 10211- I have no concerns and have COMÈ a¢ros$ no other matter5 in connection ￿th the examination to whieh aneAts"on Should be drawn in Ihis report in order to enable a prtsper underslanding of the accounts to be feached. Sanjiv Sheth ACA Chartered Accountsnt AIMS Accountants for ￿sInesS 65 Fitsy)hn Avenue Bamet Hertfordshire ENS 2HN Hadley Wood Association Statement of Financial Activrties for the Year Ended 30 September 2022 Ilncluding Incgrne and Expenditure A¢count and Statement of Total Recognised Galns and Losses} Unrestricted Desigt)ated funds lunds Total 2022 Total 2021 In¢ome and Endowments fnmn: Donations and 9ifts Charitable •c*"vib"es Investment in￿rne 381 98,492 381 100235 114 1.180 129.076 1,743 Total in¢om• 98.988 1.743 100,730 130,312 Expendtture on.. Charitable acts'v￿es G￿ernance 81.935 2.027 222 82.157 2,027 94.951 1,321 Total expenditure 83.962 84.184 96.271 Funds transferred Net movement in fvnds 15.026 1.521 16.547 34.041 R￿0￿cl11a￿0n of lund5 Total fvnds bmught forward Release of restricted funds 133,388 28.410 161.798 127.7S7 Total funds carried for4vard 148,414 29.931 178,345 161.798 All ofihe Charity$ 8th"vilies derive from contin￿ng operalions thjring Ihe above periods. The fvnds brèakdown for the Year Ended 30 September 2022 15 Sho￿ in note 12. The notes on pages 9 ￿ 14 krfm an inte9ral part ofthe5e financial statements Hadley Wood Association {Registration number. 039040841 Balan¢e Sheet as at 30 September 2022 Unrestricted Designated funds funds Totsl 2022 Total 2021 Fixed Assets Tangible assets 51,347 51.347 55,985 Current Assets stocks Debtors Cash at bank and in hand 395 19,677 119,905 13,160 104.958 13,255 134,794 10 29,836 118.983 29.931 148,914 139.977 Creditors Amounts falh'ng the wlhin one year 71 121,916) {21,916) 134.1641 Net Current ass•t 97.C67 29,931 126,998 105,813 Total asset ￿$5 t￿[￿nI liabilhies 148.414 29.931 178,345 161.798 Net Asset 148.414 29.931 178,345 161.798 Funds Unrestrtcted funds Designated funds Restricted ftJnd5 148,414 29.931 133,388 28,410 13 Total frthds 12 178,345 161,798 The notes on pages 9 to 14 an iritegral part ofthese ffinanual statements Hadley Wood Asso¢iaiion IRegiStration number: 03904084) Balance Sheet as at 30 September 2022 Icontinuedl For the financial year ending 30 September 2022 the Charity was entiued to exernption from audit under section 477 ofthe Companies Act 20C6 relating to small companTres. Directors, respon&bi#ties'. The members have not iequired Ihe Charity lo obtain an audil of its accounts for Ihe year in question in accordance with seth.on 476- and The thrector5 ackn￿￿edge Iheir responsibilities for complying wrfh the requirements of the Act respect to accounling records and the prepaTalion of accounts. These a¢couniS have been prepared in a¢cordance vthh the provisions applicable to companies subject to the small ctsmpanies re9ime. The financial statements on pages 6 to 15 were approved by the trustees. and athoiTrsed for issue on and signed on Iheir behalf by". Mr oberi Graham chairman a ustse on Hadley Wood Association Notes to the Financial Statements for the year ended 30 Septèmbèr 2022 1. Charity status The Charity is limited by guarantee. Inc￿)0rated in England, and Consewentty Iloes not have share caprtal. Each ol the truslees is liable to contribute an amount not exceeding £1 towards the assets ofthe Chatity in Ihe event ol knrymdats'on. The addres$ ofits reg•ster&d office IS.. HWA Cenlre 1-7 Crèscent East Bamet Hertford5hire EN4 OEL These finano81 sialements wefe auttw￿d for issue by the trustees on 2. Ac¢¢unting policie5 Summary of sTrgnificant ¥¢ouniing polici?5 and Itey¥eounting estimate5 The princtpal accountsng policies applied in the prepara￿"on ol these financial statements are set out below. These policies have been eonsistenlly applied tts all the years presented. unles$ otherwise staled. Stat•MÈnt of Gomplianee The finaneial stètements have been prepared in accordance Mlh AccfJJnting and Reporting by Charibes.. Statement ol Recommended Piaetice applicable to charities preparing their accounts in accordance Trmih Ihe FinancTral Reporling Standard applicabl* in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2015)- (Char￿eS SORP {FRS 10211. Iht Finan¢Tr81 Reporbng Standaid appliCa￿e in the UK and Repubhc of IreLind (FRS 102). They also comply wilh the Companies A¢t 2006 and Charitses Act 2011. Basis of P￿Paration Hadley Wood Assoaab"on meets the definilion of a public beneft enb.ty under FRS IQ2. Assets and liabilities are initially recognised at hi$tor¢cal cost or transath'on value unless olherwise stated in the ielevant accounts.ng poli￿ notes. Going coneèm The Charity has reported 8 SUTplvs lor the year after iec2Trpt ol certain one off amounts vthhout which 8 small defitit on unrestricted ijnds would have been incu￿ed. Monie5 received in respe¢t of the Green Belt Fund campaign are ring fenced for use for that campaign only. It is probable that a deficit could incur in 202212023. However. the Trustee5 consider thal. as there are sufficient reserve5 brought fotward. there are no material uncertainties about the Charity's ability to continue 8s a going c4)ncem r¢or any Si￿lficant areas of unwlainty that affect Ihe ca￿ing value of assets held by the Chaiity. Exemption from preparing a cash flow statement The Charty opted to early adopl Bullets"n I published on 2 February 2016 and have therefore not inclLsded a ¢ash fflowstatement in these finan¢ial statements. Raising funds These are costs incurred in attra¢b"ng voluntary income. the mana9ement ol investments and those incurred in trading activilies that rav6e fvnts. Hadley Wood Association Notes to the Financial Staiemenls for the year ended 30 September 2022 Income and endawm•nts l income is recogniseil once Ihe Charity has enD"Uement to the in¢ome. il is probable that Ihe income will be reoived and the amount of the in¢ome receivable be measured rella￿y. Donations and Itga¢iès Donalions are iecognisèd when the Chanty has been notified in writing ol both the amount and seluement date. In the e¥ènt that a donatitsn i8 subject to condth"on$ Ihat require a level Df performance by the ChaTrty before the Charity is enlitted lo the lund5. the income is deler¥ed and not rewgnised until eilher those conO"b"ons are fjjlly rrtet, 01 the ffijlfilment of Ihose conditions is wholly Y￿1ft the control of thè Cha¥kty and it is probable thai these eondib.ons will be lulfiled in Ihe reporhng period. Expenditure l expenditure is recognised once there is a legal OT con¥trucli¥e obligation to that expenditure, it is probable setttement Is requKed and the amount can be measured reliab l costs are alSo¢ated lo the applicable expenditure heath'ng that aggregate simjlar costs to Ihat category. Where costs cannot be threcuy altribuled to Pa￿cUlar heading5 they have been allocated on a basi5 c<>nsistenl4hyth Ihe use of resoufces, central ststf costs allocated on the basis of time spent, and depreciation ¢h8rge$ allocated on the portion of the asseys use. Olher supportcosts are allocated based on the splead ofslaff costs. Charitable ¥tivities Charrtable è%pen¢th"ture ¢ompri5es those costs inuJThed by the Charty in the delivery of its activÈU'es and services for its beneficiaries. It indudes bolh costs Ihat ￿1) be allocated th'reedy to suth aCtiV￿eS and those costs of an inthrect nalure necessary to support them. Support costs Support costs indude central hjnctions and have been all¢)cated to acth'vty cc6t categories on a basis consistent with the use of resources, for example. allocab.ng propety costs by lltsor aieas, or per captts. stsff costs by the time spent and other costs by Ihew usage. Governance costs These inchjde the costs altributable to the Charit¢s compliance with consb"tuts'onal and statutory requirements. including independent examination. Strateg￿ management and trustees, meeting5 and reimbursed expenses. Tangib￿ fixed assèts Individual fixed assets cosbng £1.000 or more are iniD"ally recorded al cost. less any $ubserwent ¥¢uJmulated depreuatson and subsequent actumulated impairment losses. Taxatit)n The Charity cgnsidered to P8SS the tests set OLrt in Paragraph 1 SL*edule 6 ofthe Finan Act 2010 and therefore it meets Ihe defiFbib"on ol a charitable ¢onyany lor UK lax purposes. Aeeordin9ly, the Challty is potents.ally exeryl from taxation in resped of income or capital gains received wthin categories ¢oveied by Chapler 3 Part 11 01 the corporats.on Tax Aet 201 O or Seeb'on 256 of the Taxkn"on of Chargeable Gains Aei 1992, to the extent that SLIth income or gaFns are applied exdu*vety io tharitable pu￿0$*5. 10 Hadley Wood Ass￿latiOn Notes to the Financial Statements for the year ended 30 September 2022 Depreciation and aMorti￿tion Depreciath"on is provided on tangible fixed assets so as to write ofi the c05t or valuation. less any estimated residual value. over their expected usefijl economic lile as followB'. Asset class Deptsclati<￿ mEthLxl and rate Short leas¢hold er unexpbred lease term Plant & machinery er four years Fixbjres, fittings & equipment er four year3 Stock Stock is valued at bhe lower of cost and eslirnaled selling price less costs lo comFlete and sell, after due Tegard for obsolete and ￿0W moving stocks. Cost is determined using the fir5t-in, first-out IFIFOI. Trade debtots and reeèlvables These are amounts due from user group5, Gift-AJ"d and customers purchasing advertising space in Ihe HWA new51etters in the ordinary course olChaTrty's business. Trade debtors and receivable are recognistd at Ihe transaction These are subsequently ieviewed periodically for bad debt. NOn-￿Ile¢￿￿e or doubtfLbl debts are impaired al the rate at which it is likely to become bad debt. Trade creditors and payables Trade tteditOf$ are obligations to pay for goods or services that have been acquired in the ordinary course of Charitys business from Suppliers. A¢cwnts payable are dassiffied as current liabilitie5 rflhe Charity does not have an Uncondth.¢￿al right. atthe end of the reporhng period, tg deler selllement ol the creditor for at least Iwelve rrtonths after the reporting date. 11 there is an unconditsonal right to defer seluement for at leastts¥elve month5 after the reporbng date. Ihey are presented as non-current 11t￿"11beS. Cash and cash equivalents Cash and ¢ash equivaSents compTise ¢8sh at bank. m hand and call deptisits. Fund structure Unrestiicted income funds are general lund5 th81 are available lor use at the trustèes. discretion in fur1heraneè of the objectives ofthe Charty. Designated fvjnds are those unrestriGtsd fvnds which have been set aside by trustees for an essential spend or campaign purpose. These lunds are then'ring-lenced. and no longer form part of unrestn'cted general fvnds. The Charity operates Iwo designaled frJnds= 11 Neighbourhood Flanning Forum for the Improvement and proteclion of Iht ltseal environment. 21 The Save the Hadley Wood Green Belt CampawJn I"Green Belt Fundl established in the yèar ended 30 September 2021 to St￿ development in the green belt area surrounding Hadley Wood. Al funds donated lo Ihi5 campaign are held in a sepa¥ate bank account labelled "HWA Green Belt.. AJI expenditure from Ihts account is approved by Trustees under guidance by the Hanntng Subcomrnittee. The income and expenth"ttJre trom this lund ts included under Designated Finds in the SOFA and a lull income and expenditure accout7t for thi5 Fund is Includ￿ in Note 13 on page 15. There 15 a provisron for funds io be released and available to HWA in stated areumstanees. Ha(Iley Wood Association Notes to the Flnanclal Statemenis for the year ended 30 September 2022 Inc<>nw from tharitablt aetivitles 2022 2021 Membership subscriptions NewBletler adverfbsing User groups HWA Centre Hire and Cai park Fireworks and sooal events Covid19 Fireworks Appeal Green 8ert Campaign (note 14) Neighbourhood Planning Forum HWA 8ar sales. Covid19 Grant 20,265 6.315 31.973 18,226 5,67S 25,248 4,280 22,505 673 1.743 4,045 64.395 2,128 79 5,000 2,940 "2,667 100235 129.076 'HVVA Bar sales reported a wofit af£l.122 {2W21.' £627 loss) Inve5trrtent income Al of the Charivs investsnent income arise from money hekl in interestbearing bank accounts. ExpendI￿re oth charitable a¢ti¥itiès 2022 2021 DIr￿t costs Membership expense Newsletter printrng and distribtsl HWA Bar costs and Tennis Chjb profil share Fireworks Grèen Belt Campaign (note 14) Local ¢ampaigns 402 7,411 706 9,392 1.818 7.575 40.613 504 4.408 23.414 49,635 Support cosls GroLrnd maintenanee ilth.ng ¥epairs and maintenance (note 58) Stsff Costs Rates and Utih"be5 Cleaning In8UTance Office expense Telephor7e and broadband Oeprecialio 13232 5,780 9,018 6.383 9.442 3.875 2.118 2.148 6.747 58,743 13.393 2.82S 7,334 4.771 4.812 3.838 797 1,326 45.315 Govtrnanee Legal and professional fees Accountanw 5ervi¢es 8ank charges 613 1.140 274 1.140 168 2,027 1.321 84.184 96.271 12 Hadley Wood Association Noles to the Financial Statements for the ended 30 September 2022 5a. Buikling repairs and maintènance 2022 2021 Fire safety maintenance and certifiGabon Intruder alarm rnaintenance and cerbfication Electrical maintenance and ¢erb"fi¢ation Boiler servi¢e Equipment Miscellaneous works 981 109 134 1.333 578 123 3,223 5,780 2,825 6. Net in¢omngloutyoing ￿$ourceS 2022 2021 Net resoui¢es are stated aftef Char9n￿1￿edIting)= Depreciation Independent examiner's fee 6.747 570 6.220 570 7. Staff costs The average numbef of employee during the year was 0.512W21.. 0.5) No trustees received ￿MUneratioN reirnbufSed exp￿$8$ during the year12021.. £nill 8. TANG18LE FIXED ASSETS Short Lea5eho*J Plant and Fixtures and machinery fittings T¢tsls COST At 1 October 2021 117.01 28.734 25,536 171,276 Additions 2.110 2,110 173.386 At 30 September 2022 117,OC 28.734 27.645 DEPRECIATION At 1 Octobe¥ 2021 Charge for year 61,021 6,220 28,734 25,536 527 115.291 6,747 At 30 September 2022 67,241 28,734 26,063 122,038 NET 800K VALUE At 30 September 2022 49,765 1.582 51,347 At 30 September 2021 55.985 55,985 Fixed Assets additions indude replacement hall chaws£991. and new Dell PC for the genefal rnanager £1,118. Hadley.Wood Assoclation Notes to the Flnancial Statsments for the year ended 30 September 2022 Debtors: Amounts falling due wkhin one year 2022 2021 T¥ad¢ Debtor5 Prepayments Accrued Income Green Belt Gift Aid (Oesignated Fw¢dl 7.200 3,555 2.405 9S 2.965 662 5,050 11.000 13.255 19,677 10. Cash 8t bank and in hand 2022 2021 Genefal Fund esignated Fund 104.958 29.836 82,977 36,928 134,794 119,905 11. Creditors". Amounts fallin9 due within one yèar 2022 2021 Trade credrtoys Ta¥ab"on and social se¢urity Ac￿Ual5 arbd deferred income Green 8eir Fund IDesi9nated fvndl Ground UK Ioesignaled F￿d) 5.680 41 16.196 1.s19 13.128 19.518 21.916 34,164 12. Movem•nt in futtds Balance at 0111012021 Incoming Outgoing eS￿l¢e5 ￿$1)u￿e$ Balance at 3010912022 Transfers UTrrèstricted fvnds General hJnd Designated tsnd 133,388 28.410 161798 98.988 183.9621 222 148,414 29,931 178 Re5trth funds 14 Hadley Wood Associ•tion Notes to Ihe Financial Statements for the ytsr ended 30 September 2022 13. Analysis of De5iynaled Ftsnds Ntighbourtwd Save the Had*y Planning Fowm Wood Grnen Belt Total 2022 Total 2021 Balanee 8￿wd 2,128 26.282 28.410 1,128 Incoming ie50urces 1.743 1.743 65,395 Charitable aelivibes (222} 12221 140,6131 Transfer of fimd5 2,500 Balance CIFwd 2.128 27.803 29,931 28,410 15 Note 14 Hadley Wood Assoc6ation HWA Green Beft Fund Income and Expendlture A¢¢ount for the Year Ended 30 September 2022 Totsl 2022 Totsi 2021 2022 Incm: Chafltable 8cti¥its"es-. Donations recekved 53.395 Gift Aid receNable 11.000 64,395 1.743 Exiwdityre. Professional Seryices Plannin9 $ervices Consultsnts fees Leaflets Banners Posters Bank ¢h8rge 19247 15,000 4,440 717 210 18 40.613 Jrplus CIFwd Transfer from HWA Cuffenl account 1.521 23.782 2,500 EAJrplus BIFwd 26,282 Surplus CIFwd Notes: (al Gift M"d receivable is estimated on the amount ceclaimabie in re5pectof signed d&m forms ieceived from donors. Gift￿"￿ receivable VAI only be commttted to the Fund's njnning costs when it Is TecÈi¥ed by Ihe ChaTity. Ibl NJI donab"orh5 are received for-Sav¢ the Hadey Wood Green Belt c8Thyaign and all expenditure have been approved by TNstees under guidance by the Planning Sub-comrnrtite. The Income and Expend[￿re Accounts of Green Bett CaMPah￿ is approved by the trustees of the Charity on Ll and signed on its behalf by". Mr Robert Graham Wilso Chatman and T 16