# **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, - 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 - 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 - the accounts did not accord with the accounting records; or - 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**|| **4** ## **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. **6** **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**| **7**