GREENSTEAD COMMUNITY ASSOCIATION
Charity number 1082081
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2022
GREENSTEAD COMMUNITY ASSOCIATION
CONTENTS FOR THE YEAR ENDED 31 MARCH 2022
| Page | |
|---|---|
| Trustee Annual Report | 1 - 2 |
| Independent Examiners Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the financial statements | 6 - 9 |
GREENSTEAD COMMUNITY ASSOCIATION
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022
The trustees are pleased to present their report together with the accounts of the charity for the year ended 31st March 2022.
Our purpose and activities
The objects of the Association are to:
-
Promote the benefit of the residents of Greenstead by working with local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for the recreation and leisure-time occupation with the object of improving the conditions of life for the said residents.
-
Establish, or secure the establishment of a community Centre and to maintain and manage the same.
3 Work with the local authority or other person or body in furtherance of these objectives
- Promote such charitable purposes as may from time to time be determined.
The work of the association is to manage the community centre and offer low cost venue hire to groups providing activities that improve the lives of local people.
The association also rents space to a children’s centre and a pre-school so young children and their parents can access activities and support. There is also rented space by a community cafe at the front of the building.
Local residents can also hire space at a reduced cost and children’s parties are popular with several being held throughout the year.
The strategy of the organisation is to become financially self- sustaining so it can invest in and provide community development activities for local residents.
Chairs Report
Chair of trustees, Cllr Tim Young, gives an overview of the Association’s activities during the financial year, 2021/22.
The Association and The Community Centre survived the pandemic thanks to the commitment of the staff and the dedication of the Trustees. We had support from the furlough scheme and other Governments grants and we were also grateful for the support and advice received from Colchester Borough (now City) Council, Colchester Borough Homes and Community360.
We recruited some new Trustees and their input has been valuable and we arranged a training session to look at Trustee responsibilities and the possibility of becoming a Charitable Incorporated Organisation.
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GREENSTEAD COMMUNITY ASSOCIATION
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022
We are indebted to our Centre Manager, Nicola Davey, who went above and beyond the call of duty to ensure that the fabric of the Centre was maintained during periods of closure and communicated with the other staff members regularly to keep them apprised of developments. We held meetings with representatives of the NHS to enable their Vaccination Bus to pork up adjacent to the Community Centre to increase the rates in Greenstead which had been very low in terms of Covid-19. These sessions proved very popular and we allowed use of the Community Centre to assist the provision.
One of the success stories during the year has been the opening of Kelly’s Kafe, our community cafe, which is run by a local residents and provides good quality, low cost, meals, snacks and drinks to the local community. It proved very popular and was often full at particular times. The Centre followed all the Covid restrictions in terms of distancing and ventilation again thanks to the watchful management of Nicola Davey.
The Centre has become the hub of the community and as we emerged from the pandemic Nicola and her team made strenuous efforts to welcome hirers back to the Centre with incentive schemes and re introductory offers. This has proved very successful.
During this year it became apparent that there may be significant Government funding coming to Greenstead through the Town Deal fund and Estate Regeneration Scheme. Nicola and the Trustees were kept informed of how this was developing as it would, in all likelihood, have a significant impact of the future of The Centre.
The Centre was hired to many Community Groups, Charities, Private hirers, statutory bodies and the future is a positive one.
We have invested in the building and look forward to further progress being made and maintained.
I would like to reiterate my thanks to Nicola, the staff and my fellow trustees for their help, advice and support through challenging times.
Cllr Tim Young Chair of Trustees, Greenstead Community Association
27 January 2023.
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GREENSTEAD COMMUNITY ASSOCIATION
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022
I report on the accounts of Greenstead community Association for the year ended 31 March 2022 which are set out on pages 4 to 9.
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:
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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
-
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 31/01/2023
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GREENSTEAD COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Note | Unrestricted | Designated | Restricted | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Total | Total | Total | Total | Total | ||
| £ | £ | £ | £ | £ | ||
| Incoming resources | ||||||
| Income from investments | 2 | 2 | - | - | 2 | 6 |
| Income from charitable activities | ||||||
| Grants received | 3 | 13,518 | - | 3,172 | 16,690 | 62,438 |
| Income generated | 3 | 88,460 | - | - | 88,460 | 42,920 |
| Other income | 2,847 | - | - | 2,847 | 1,919 | |
| Total income | 104,826 | - | 3,172 | 107,998 | 107,283 | |
| Expenditure | ||||||
| Charitable activities | 4 | 109,869 | 9,587 | 1,800 | 121,256 | 80,677 |
| Total resources expended | 109,869 | 9,587 | 1,800 | 121,256 | 80,677 | |
| Net income/(expenditure) | (5,042) | (9,587) | 1,372 | (13,257) | 26,606 | |
| Transfer between funds | 639 | - | (639) | - | - | |
| Net income for the period | (4,403) | (9,587) | 733 | (13,257) | 26,606 | |
| Funds at 1 April 2021 | 8 | 74,420 | 834,399 | 799 | 909,618 | 883,011 |
| Funds at 31 March 2022 | 8 | 70,017 | 824,812 | 1,532 | 896,361 | 909,618 |
Notes on pages 6 to 9 form part of these financial statements
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GREENSTEAD COMMUNITY ASSOCIATION
BALANCE SHEET AS AT 31 MARCH 2022
| Note | 2022 | 2021 | |
|---|---|---|---|
| Total | Total | ||
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 5 | 837,134 | 845,401 |
| Current assets | |||
| Debtors | 6 | 15,101 | 2,173 |
| Cash at bank and in hand | 49,802 | 69,872 | |
| 64,903 | 72,045 | ||
| Current liabilities | |||
| Creditors, amounts falling due within one year | 7 | 5,676 | 7,828 |
| Net current assets | 59,227 | 64,217 | |
| Totals assets less current liabilities | 896,361 | 909,618 | |
| Funds | |||
| Unrestricted funds | 8 | 70,017 | 74,420 |
| Designated funds | 8 | 824,812 | 834,399 |
| Restricted funds | 8 | 1,532 | 799 |
| 896,361 | 909,618 |
These accounts were approved by the Trustees and signed on their behalf by :
Signed Tim Young
31 January 2023 Date
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GREENSTEAD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
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. ** | Income from Investments | **Unrestricted ** | Designated | Restricted | 2022 | 2021 |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||
| Bank interest receivable | 2 | - | - | 2 | 6 | |
| **3. ** | Income from Charitable activities | **Unrestricted ** | Designated | Restricted | 2022 | 2021 |
| £ | £ | £ | £ | £ | ||
| Grants receivable | ||||||
| General grants | 12,000 | - | 3,172 | 15,172 | 62,438 | |
| CJRS | 1,518 | - | - | 1,518 | - | |
| 13,518 | - | 3,172 | 16,690 | 62,438 | ||
| Income generated | ||||||
| Café income | 723 | - | - | 723 | - | |
| Donations | 697 | - | - | 697 | 409 | |
| Activities | 784 | - | - | 784 | - | |
| Leased hire | 9,000 | - | - | 9,000 | 5,625 | |
| Rent | 28,070 | - | - | 28,070 | 28,040 | |
| Room hire | 49,186 | - | - | 49,186 | 8,847 | |
| 88,460 | - | - | 88,460 | 42,920 | ||
| Total | 101,979 | - | 3,172 | 105,149 | 105,358 |
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GREENSTEAD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| 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 Bank charges Office equipment maintenance Office Costs Postage and stationery Telephone Sales promotion Professional Fees Consultancy Fees Volunteeer expenses Miscellaenous expenses Depreciation 5. Tangible fixed assets Property building £ Cost As at 1 April 2021 1,035,399 Additions - As at 31 March 2022 1,035,399 Depreciation As at 1 April 2021 189,998 Charge for the year 9,587 As at 31 March 2022 199,585 Net Book Value As at 31 March 2022 835,814 As at 31 March 2021 845,401 |
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 Bank charges Office equipment maintenance Office Costs Postage and stationery Telephone Sales promotion Professional Fees Consultancy Fees Volunteeer expenses Miscellaenous expenses Depreciation 5. Tangible fixed assets Property building £ Cost As at 1 April 2021 1,035,399 Additions - As at 31 March 2022 1,035,399 Depreciation As at 1 April 2021 189,998 Charge for the year 9,587 As at 31 March 2022 199,585 Net Book Value As at 31 March 2022 835,814 As at 31 March 2021 845,401 |
Unrestricted £ 33,154 734 - 48 |
Designated £ - - - - |
Restricted £ - - - - |
2022 £ 33,154 734 - 48 |
2021 £ 22,073 1,548 - - |
|---|---|---|---|---|---|---|
| 33,936 1,702 9,006 1,577 17,316 541 27,071 2,275 - 635 |
- - - - - - - - - - |
- - - - - - 1,800 - - - |
33,936 1,702 9,006 1,577 17,316 541 28,871 2,275 - 635 |
23,621 440 6,072 2,773 10,305 963 12,869 980 - 1,288 |
||
| 60,123 45 32 10,245 848 171 1,353 84 2,078 - 23 931 |
- - - - - - - - - |
1,800 - - - - - - - - |
61,923 45 32 10,245 848 171 1,353 84 2,078 - 931 |
35,692 - - 7,390 228 89 1,302 32 1,252 674 811 |
||
| 15,810 - |
- 9,587 |
- - |
15,787 9,587 |
11,778 9,587 |
||
| 109,869 | 9,587 | 1,800 | 121,232 | 80,678 | ||
| Community centre imp'ments £ 35,373 - |
Plant & machinery £ 2,791 - |
Office equipment £ 7,670 1,320 |
Fixtures & fittings £ 27,582 - |
Total £ 1,108,815 - |
||
| 1,035,399 189,998 9,587 |
35,373 35,373 - |
2,791 2,791 - |
8,990 7,670 - |
27,582 27,582 - |
1,108,815 213,504 9,587 |
|
| 199,585 | 35,373 | 2,791 | 7,670 | 27,582 | 223,091 | |
| 835,814 | - | - | 1,320 | - | 837,134 | |
| 845,401 | - | - | - | - | 845,401 |
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GREENSTEAD COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| **6. ** | Debtors | 2022 | 2021 | |||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Debtors | 8,091 | 2,173 | ||||
| Accrued income | 7,010 | - | ||||
| 15,101 | 2,173 | |||||
| **7. ** | Creditors; amounts falling due within one year | 2022 | 2021 | |||
| £ | £ | |||||
| Creditors and accruals | 5,676 | 7,828 | ||||
| 5,676 | 7,828 | |||||
| **8. ** | Funds | 01/04/21 | Income | Expenses | Transfers | 31/03/22 |
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| General fund | 74,420 | 104,826 | (109,869) | 639 | 70,017 | |
| Designated funds | ||||||
| Building | 834,399 | - | (9,587) | - | 824,812 | |
| Restricted funds | ||||||
| Colchester Catalyst | 66 | - | - | (66) | - | |
| Essex Community Foundation | 160 | - | - | - | 160 | |
| Colchester Borough Homes | - | 200 | - | - | 200 | |
| Fowler Smith & Jones | 373 | - | - | (373) | - | |
| Older Generation | 200 | - | - | (200) | - | |
| Colchester Borough Council | - | 2,972 | (1,800) | - | 1,172 | |
| Total restricted funds | 799 | 3,172 | (1,800) | (639) | 1,532 | |
| Total funds | 909,618 | 107,998 | (121,256) | - | 896,361 |
9. Going concern
The charity is operating on a going concern basis
10. Key staff
Key management personnel were paid a total of £19,001 during the financial year (2021 £7,388).
Management was outsourced to consultants in the year with a total cost of £0 (2021:£674).
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 2022
| 12.Comparative Statement of Financial Activity Note Incoming resources Income from Investments 2 Income from Charitable activities Grants received 3 Income generated 3 Other income Total income and endowments Expenditure on Charitable activities Charitable activities 4 Total resources expended Net income/(expenditure) Transfer between funds Net income for the period Funds at 1 April 2020 8 Funds at 31 March 2021 8 |
Unrestricted Total £ 6 58,331 42,920 1,919 103,176 64,227 64,227 38,950 409 39,359 35,061 74,420 |
Designated Total £ - - - - - 9,587 9,587 (9,587) (9,587) 843,986 834,399 |
Restricted Total £ - 4,107 - - 4,107 6,863 6,863 (2,756) (409) (3,165) 3,964 799 |
2021 Total £ 6 62,438 42,920 1,919 |
|---|---|---|---|---|
| 105,364 80,677 |
||||
| 80,677 | ||||
| 26,607 - |
||||
| 26,607 883,011 |
||||
| 909,618 |
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