GREENSTEAD COMMUNITY ASSOCIATION
Charity number 1082081
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2021
GREENSTEAD COMMUNITY ASSOCIATION
CONTENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |
|---|---|
| Independent Examiners Report | 1 |
| Statement of Financial Activities | 2 |
| Balance Sheet | 3 |
| Notes to the financial statements | 4 - 7 |
GREENSTEAD COMMUNITY ASSOCIATION
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021
I report on the accounts of Greenstead community Association for the year ended 31 March 2021 which are set out on pages 2 to 7.
Respective responsibilities of trustees and examiner
The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011 (The Act) but that an independent examination is needed.
It is my responsibility to:
-
Examine the accounts under section 145 of the Charities Act,
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To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act, and
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To state whether particular matters have come to my attention.
Basis of independent examiner’s Statement
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes considerations of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair' view which is not a matter considered as part of an independent examination.
I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Shelley-Marie Rudling FMAAT AATQB for and on behalf of: Community360
Winsley’s House, High Street, Colchester, Essex Date 31/01/2022
1
GREENSTEAD COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Note | Unrestricted | Designated | Restricted | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Total | Total | Total | Total | Total | ||
| £ | £ | £ | £ | £ | ||
| Incoming resources | ||||||
| Income from investments | 2 | 6 | - | - | 6 | 71 |
| Income from charitable activities | ||||||
| Grants received | 3 | 58,331 | - | 4,107 | 62,438 | 12,806 |
| Income generated | 3 | 42,920 | - | - | 42,920 | 93,843 |
| Other income | 1,919 | - | - | 1,919 | - | |
| Total income | 103,176 | - | 4,107 | 107,283 | 106,720 | |
| Expenditure | ||||||
| Charitable activities | 4 | 64,227 | 9,587 | 6,863 | 80,677 | 118,471 |
| Total resources expended | 64,227 | 9,587 | 6,863 | 80,677 | 118,471 | |
| Net income/(expenditure) | 38,950 | (9,587) | (2,756) | 26,607 | (11,751) | |
| Transfer between funds | 409 | - | (409) | - | - | |
| Net income for the period | 39,359 | (9,587) | (3,165) | 26,607 | (11,751) | |
| Funds at 1 April 2020 | 8 | 35,061 | 843,986 | 3,964 | 883,011 | 894,762 |
| Funds at 31 March 2021 | 8 | 74,420 | 834,399 | 799 | 909,618 | 883,011 |
Notes on pages 4 to 7 form part of these financial statements
2
GREENSTEAD COMMUNITY ASSOCIATION
BALANCE SHEET AS AT 31 MARCH 2021
| Note | 2021 | 2020 | |
|---|---|---|---|
| Total | Total | ||
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 5 | 845,401 | 854,988 |
| Current assets | |||
| Debtors | 6 | 2,173 | 2,258 |
| Cash at bank and in hand | 69,872 | 29,355 | |
| 72,045 | 31,613 | ||
| Current liabilities | |||
| Creditors, amounts falling due within one year | 7 | 7,828 | 3,589 |
| Net current assets | 64,217 | 28,024 | |
| Totals assets less current liabilities | 909,618 | 883,011 | |
| Funds | |||
| Unrestricted funds | 8 | 74,420 | 35,061 |
| Designated funds | 8 | 834,399 | 843,986 |
| Restricted funds | 8 | 799 | 3,964 |
| 909,618 | 883,011 |
These accounts were approved by the Trustees and signed on their behalf by :
Signed Date 31/01/2022 Tim Young
3
GREENSTEAD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. Accounting Policies
Basis of the preparation of the accounts
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement on Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Rebulic of Ireland (FRS 102) and the Companies Act 2006.
Cash flow statement
The directors have taken advantage of the exemption in Financial Reporting Standard 1 (revised) from including a cash flow statement in the financial statements on the grounds that the company is small.
Incoming resources
All material incoming resources have been included on a receivable basis
They are included if the date receivable falls within the period covered by these accounts.
Resources expended
These have been analysed using a natural classification.
Depreciation
It is an accounting standard and legal requirement under the Companies Act to depreciate fixed assets over their useful liives. For plant and machinery or office equipment, this depreciation is based on an estimate of that useful life. However, where there is a definitive legal definition of useful/usable life, then this must be used as the basis of depreciation. For leases, this will be the period of the lease, whether it be plant, machinery, leasehold building or land. The amount of depreciation will be based on the cost less the residual value. It could be based on a higher value if it is an asset that appreciates in value.
With Greenstead Community Association, the cost/value at which the leasehold property and land was transferred from Colchester Borough Council, is the amount to be depreciated , over the period of the lease of 99 years.
| 2. **3. ** |
Income from Investments Bank interest receivable Income from Charitable activities Grants receivable General grants Income generated Café income Donations Activities Leased hire Rent Room hire Total |
Unrestricted £ 6 |
Designated £ - |
Restricted £ - |
2021 2020 £ £ 6 71 2021 2020 £ £ 62,438 12,806 62,438 12,806 - 1,434 409 2,000 - 1,527 5,625 8,918 28,040 26,148 8,847 53,817 42,920 93,843 105,358 106,649 |
|---|---|---|---|---|---|
| Unrestricted £ 58,331 |
Designated £ - |
Restricted £ 4,107 |
|||
| 58,331 - 409 - 5,625 28,040 8,847 |
- - - - - - - |
4,107 - - - - - - |
|||
| 42,920 | - | - | |||
| 101,257 | - | 4,107 |
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GREENSTEAD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| 4. Costs of charitable activities Salaries Activities Youth Club Cafe Purchases Health & safety Heat and light Insurance Premises costs and cleaning Rates Repairs and maintenance Security costs Venue hire Washroom Licences Office equipment maintenance Office Costs Postage and stationery Telephone Sales promotion Training Travel Professional Fees Consultancy Fees Miscellaenous expenses Depreciation 5. Tangible fixed assets Property building £ Cost As at 1 April 2020 1,035,399 Additions - As at 31 March 2021 1,035,399 Depreciation As at 1 April 2020 180,411 Charge for the year 9,587 As at 31 March 2021 189,998 Net Book Value As at 31 March 2021 845,401 As at 31 March 2020 854,988 |
4. Costs of charitable activities Salaries Activities Youth Club Cafe Purchases Health & safety Heat and light Insurance Premises costs and cleaning Rates Repairs and maintenance Security costs Venue hire Washroom Licences Office equipment maintenance Office Costs Postage and stationery Telephone Sales promotion Training Travel Professional Fees Consultancy Fees Miscellaenous expenses Depreciation 5. Tangible fixed assets Property building £ Cost As at 1 April 2020 1,035,399 Additions - As at 31 March 2021 1,035,399 Depreciation As at 1 April 2020 180,411 Charge for the year 9,587 As at 31 March 2021 189,998 Net Book Value As at 31 March 2021 845,401 As at 31 March 2020 854,988 |
Unrestricted £ 22,073 1,548 - - |
Designated £ - - - - |
Restricted £ - - - - |
2021 2020 £ £ 22,073 29,777 1,548 3,016 - 2,460 - - 23,621 35,253 440 2,466 6,072 11,134 2,773 2,528 10,305 5,505 963 2,161 12,869 24,677 980 1,161 - - 1,288 1,685 35,692 51,317 - 89 7,390 11,032 228 - 89 515 1,302 1,894 32 9 - 361 - 39 1,252 2,255 674 6,003 811 117 11,777 22,314 9,587 9,587 80,677 118,471 Fixtures & Total fittings £ £ 27,582 1,108,815 - - 27,582 1,108,815 27,582 213,504 - 9,587 27,582 223,091 - 845,401 - 854,988 |
|---|---|---|---|---|---|
| 23,621 440 6,072 2,773 7,199 963 9,112 980 - 1,288 |
- - - - - - - - - - |
- - - - 3,106 - 3,757 - - - |
|||
| 28,829 - 7,390 228 89 1,302 32 - - 1,252 674 811 |
- - - - - - - - - - |
6,863 - - - - - - - - - - |
|||
| 11,777 - |
- 9,587 |
- - |
|||
| 64,227 | 9,587 | 6,863 | |||
| Community centre imp'ments £ 35,373 - |
Plant & machinery £ 2,791 - |
Office equipment £ 7,670 - |
|||
| 1,035,399 180,411 9,587 |
35,373 35,373 - |
2,791 2,791 - |
7,670 7,670 - |
||
| 189,998 845,401 |
35,373 - |
2,791 - |
7,670 - |
||
| 854,988 | - | - | - |
5
GREENSTEAD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| **6. ** | Debtors | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Debtors | 2,173 | 2,258 | |
| 2,173 | 2,258 | ||
| **7. ** | Creditors; amounts falling due within one year | 2021 | 2020 |
| £ | £ | ||
| Creditors and accruals | 7,828 | 3,589 | |
| 7,828 | 3,589 |
| **8. ** | Funds | 01/04/20 | Income | Expenses | Transfers | 31/03/21 |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| General fund | 35,061 | 103,176 | (64,227) | 409 | 74,420 | |
| Designated funds | ||||||
| Building plus prior year adjustment | 843,986 | - | (9,587) | - | 834,399 | |
| Restricted funds | ||||||
| Evergreens | 308 | 2,130 | (2,130) | (308) | - | |
| Knitters | 101 | - | - | (101) | - | |
| Colchester Catalyst | 66 | - | - | 66 | ||
| Essex Community Foundation | 160 | - | - | - | 160 | |
| Fowler Smith & Jones | 373 | - | - | - | 373 | |
| Beyond The Box | 1,674 | - | (1,674) | - | - | |
| Older Generation | 200 | - | - | - | 200 | |
| King Cole Kittens | 451 | - | (451) | - | - | |
| Colchester Borough Council | 631 | 1,977 | (2,608) | - | - | |
| Total restricted funds | 3,964 | 4,107 | (6,863) | (409) | 799 | |
| Total funds | 883,011 | 107,283 | (80,677) | - | 909,618 |
9. Going concern
The charity is operating on a going concern basis
10. Key staff
Key management personnel were paid a total of £7,388 during the financial year (2020 £6,442).
Management was outsourced to consultants in the year with a total cost of £674 (2020:£6,002.50).
11. Related parties
There were no related party transactions in this financial year.
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GREENSTEAD COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| 12.Comparative Statement of Financial Activity Note Incoming resources Income from Investments 2 Income from Charitable activities Grants received 3 Income generated 3 Total income and endowments Expenditure on Charitable activities Charitable activities 4 Total resources expended Net income/(expenditure) Funds at 1 April 2019 8 Funds at 31 March 2020 8 |
Unrestricted Total £ 71 840 93,843 94,754 99,169 99,169 (4,415) 39,476 35,061 |
Designated Total £ - - - - 9,587 9,587 (9,587) 853,573 843,986 |
Restricted Total £ - 11,966 - 11,966 9,715 9,715 2,251 1,713 3,964 |
2020 Total £ 71 12,806 93,843 |
|---|---|---|---|---|
| 106,720 118,471 |
||||
| 118,471 | ||||
| (11,751) 894,762 |
||||
| 883,011 |
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