REGISTERED COMPANY NUMBER: 04149483 (England and Wales)
REGISTERED CHARITY NUMBER: 1085503
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31st March 2022
for
VANBRUGH COMMUNITY ASSOCIATION
MastersFuller
Chartered Certified Accountants
38 Salisbury Road
Worthing
West Sussex
BN11 1RD
VANBRUGH COMMUNITY ASSOCIATION
Contents of the Financial Statements for the Year Ended 31st March 2022
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Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Cash Flow Statement 9
Notes to the Cash Flow Statement 10
Notes to the Financial Statements 11 to 16
Detailed Statement of Financial Activities 17 to 18
DRAFT
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VANBRUGH COMMUNITY ASSOCIATION
Report of the Trustees
for the Year Ended 31st March 2022
TheVCAtrustees,whoarethedirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31stMarch2022.Thetrustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102.
OBJECTIVES AND ACTIVITIES
Objectives and aims
TheobjectivesofVanbrughCommunityAssociationare:topromotethebenefitoftheinhabitantsof the
LondonBoroughofGreenwichandespeciallytheBlackheath,Westcombeandadjoiningwardsby furthering
theireducation,socialwelfareandleisureopportunitiesasameansofimprovingtheirqualityoflife, and
specificallybymanagingacommunityvenuetoprovideabaseforactivitieswhichwillhelpachieve those
objectives.
Main activities for public benefit
Therearecurrently125groupswhouseMycenaeHouseonaregularbasis,ofwhich32areAffiliatedto the
VCA and31arePrivateMembergroups.Theactivitiesofthegroupsfitlargelywithinthecategoriesof Healthy
&Wellbeing,ArtsandCultureandChildrenandEducation.Therangeofactivitiesprovidedincludes physical
exercise,mentalhealth,visualarts,music,singing,natureandconservation,dance,seniorcitizen activities,
localhistory,scienceappreciation,judo,martialarts,weightcontrol,actingandtheatreskills,languages, and
healing.Thehousealsoprovidesfacilitiesforachildren'spre-schoolnurseryandcreativeeducation, hosts
meetings,trainingsessionsandconferencesforprofessionalorganisations,providesclassroomfacilities for
internationalschoolsandspacefortheRBG&NHSSocialServicesfamilycontactsessions,counselling, and
mental health support services, as well as being a Polling Station in National and Local Elections.
Therearetwocommunityorganisationswhichhaveofficesinthehouseandtherearetwoartistsin residence.
Inaddition,theVCAorganisesitsownprogrammeofculturaleventswhichincludelivemusic,theatre and
visual arts, fairs, and talks.
Ourwell-establishedReachOutProjectworkstotackleandreducesocialisolation,inequality,and supports
diversity in our local community through offering social activities, support sessions and access to services.
TheVCA isalsoapartnerintheFriendsofMycenaeGardens,TheEyesEUInteregproject,theannual Parksfest
eventinMycenaeGardensandtheWestcombeSociety'svariousfundraisingevents,includingthe MacMillan
Coffee Morning.
useMycenaeHouseonaregularbasis,of
groups.Theactivitiesofthegroupsfitlargelywithinthe
ChildrenandEducation.Therangeofactivities
arts,music,singing,natureandconservation,dance,
judo,martialarts,weightcontrol,actingandtheatre
facilitiesforachildren'spre-schoolnurseryand
conferencesforprofessionalorganisations,provides
fortheRBG&NHSSocialServicesfamilycontact
whichhaveofficesinthehouseandthereare
itsownprogrammeofculturaleventswhichinclude
Projectworkstotackleandreducesocialisolation,
FriendsofMycenaeGardens,TheEyesEUInteregproject,
theWestcombeSociety'svariousfundraisingevents,
planningactivitiesattheCentre,westrivetocomplywith
requirementsinaccordancetheServiceLevel
4 oftheCharitiesAct 2016andtheguidanceissuedby the
otherregularhirersmustprovideaclearpublicbenefit
mustalsocreateapublicbenefitandmakeapositive
Mycenae House has a licensed café bar for the use of user groups and visitors, with free Wi-Fi.
How our activities deliver Social value
WhenacceptingbookingsandplanningactivitiesattheCentre,westrivetocomplywiththeVCA's mission, it's
socialvaluecommitmentsandrequirementsinaccordancetheServiceLevelAgreementwiththe Royal
BoroughofGreenwich,Section4 oftheCharitiesAct 2016andtheguidanceissuedby theCharity Commission
on Social Value.
The general principles that we adhere to are:
-Affiliatedgroupactivitiesandotherregularhirersmustprovideaclearpublicbenefitwhichgivesa social,
educational, health and/or wellbeing benefit to participating residents of the Ward and the Borough.
-PrivateMembershireactivitiesmustalsocreateapublicbenefitandmakeapositivecontributionto the
finances of the Centre.
-Providelowcost,suitableandaccessiblespacesandresourcesforcommunitydevelopmentand social
needs.
-Aimtodevelopaccessiblepopulareventsandsocialopportunitiesforthebenefitofresidentsofthe Ward
and the Borough, particularly the socially excluded and vulnerable communities.
-TheVCA/MycenaeHousearesignatoriesofandcommittedtotheprinciplesoftheRoyalBorough of
Greenwich's Equality and Equity Charter.
Page 1
VANBRUGH COMMUNITY ASSOCIATION
Report of the Trustees
for the Year Ended 31st March 2022
ACHIEVEMENT AND PERFORMANCE
Achievement & performance
Thebusinessyear2021/2022canbecharacterisedintotwodistincthalves.ApriltoAugustandSeptember to
March.ThefirsthalfwasdominatedbypreparingfortheendofCovidlockdownrestrictionsandthe second
half of fully reopening and running a full programme, post lockdown restrictions. (September - March)
AprilthroughtoAugustwascharacterisedbytheCovidlockdownperiodandthephasingoutof national
restrictions.Thismeantslowlyreadjustingourworkingpracticesandexpandingourprogrammewhen possible.
Thiscompromisedourabilitytomakeanythinglikenormalfinancialturnover,howeverwecontinuedto benefit
fromgovernmentsupportincludingFurloughpayments.Despitetheserestrictionswewereabletopresent a
buoyant programme and income, delivered by a willing and able core team of staff.
FromSeptemberallgovernmentrestrictionswerelifted,financialsupportended,andallstaffreturned from
Furlough.Thisleftustoreturntofendingforourselves.Theprogrammebegantoreturnbutveryslowly with
manyusergroupsreluctanttorisktheirparticipantsandmembers.Wealsowitnessednumbersofvisitors and
attenders returning slowly. Thankfully by the end of the financial year numbers attending were healthy.
servestheisolated,vulnerable,anddisadvantaged
busythroughoutthistimebothbyprovidingflexible
incomingbacktothehouse.OurDrop-InWellbeing
andattractedmanynewpartnershipswithexisting
andpopularfacilitytohelppeoplereengagewiththe
peoplejustsocialisingandmeetingfriends.We
ofprideandreassuranceisthecommitmentofallour
wetriedtomaintainourusualfunctionsincluding
channelsandwealsoproducedourusualbrochure
atthecentrethroughoutandwassupportedbythe
andmanagementfunctionsremainedoperational.
functionedasrequired.InSeptemberwewereable
tostaffneedsinreturningtoworkinapublicsetting
infrastructureandfabricofthecentreas required,we were
café,replacethechillerdisplayunitinthecaféand
OurReachOutproject,whichservestheisolated,vulnerable,anddisadvantagedcommunitymembersof the
areawasactiveandextremelybusythroughoutthistimebothbyprovidingflexibleinterventionsto help
peopleintheirhomesandslowlyincomingbacktothehouse.OurDrop-InWellbeingCaféhas,asa result,
gonefromstrengthtostrengthandattractedmanynewpartnershipswithexistingorganisationsworkingin the
same fields.
TheCaféBarhasprovedavitalandpopularfacilitytohelppeoplereengagewiththecommunityand has
seenanincreaseinfootfallfrompeoplejustsocialisingandmeetingfriends.Wehavealsoseena larger
number of people who are working remotely use the facilities to work with laptops in the café.
What remainsa constantsourceofprideandreassuranceisthecommitmentofallourstaffwhichdoesnot go
unnoticed by the community or the board.
Administrativelyandstrategically,wetriedtomaintainourusualfunctionsincludingcommunications through
digitalandsocialmediamarketingchannelsandwealsoproducedourusualbrochuredistributedto 8,000
local houses in September.
Management and administration
Thecoreteamcontinuedtoworkatthecentrethroughoutandwassupportedbythechairandtreasurer with
weeklymeetings.Alladministrativeandmanagementfunctionsremainedoperational.Boardmeetings were
heldasplannedbutonlineandfunctionedasrequired.InSeptemberwewereabletobringallstaffout of
furloughandstrivedtobesensitivetostaffneedsinreturningtoworkinapublicsettingbyoffering staggered
work patterns and refresher training as required.
Maintenance, repairs and improvements
We continuedto maintaintheinfrastructureandfabricofthecentreas required,we werealsoableto change
theback-of-counterset-upinthecafé,replacethechillerdisplayunitinthecaféandmakeimprovement to
the storage facilities in the house.
PeterDixoncontinuedtoprovidesupportforalltheplumbing,drainageandpipeworkforthecentre as
required. We are indebted to him for his skill, commitment, and proactive nature in maintaining the building.
FINANCIAL REVIEW
Reserves policy
ThepolicyoftheVCA istoholdfinancialreservesthat,atminimum,areequivalenttothetotaloperating costs
ofMycenaeHouseforaperiodofsixmonths.FortheyeartoMarch2022theTrusteesconsideredthat the
appropriate level for the reserve was £150,000; this figure is reviewed on an annual basis.
The risks covered by the reserve have been identified as:
Inaddition,wecontinuetoholdaCapitalWorksReserveFundtocovertheanticipatedcostoffuture major
improvementswewillseektoundertaketoMycenaeHouseoncewehavebeengrantedalongleaseby the
RoyalBoroughofGreenwich.Themaincomponentofthisprogrammewillbetheinstallationofa passenger lift
to provide easy access to all floors of the building for all our users, visitors and staff.
Page 2
VANBRUGH COMMUNITY ASSOCIATION
Report of the Trustees
for the Year Ended 31st March 2022
FINANCIAL REVIEW
Investment policy and objectives
TheTrusteescontinueto taketheviewthatbankdeposits,savingsbondsandbuildingsocietysavings accounts
bestmeettheneedforsecuringsomereturnonourfinancialreservesforaminimumofrisk.Inthese uncertain
timestheincomefrominvestmentsandinteresthasreducedtobeinglargelynegligibleandthisstrategy is
under review.
Overall position
TheVCA/MycenaeHouseexperiencedanon-typicalfinancialyearbetween2021-22,giventhe Covid19
Pandemic,resultantlossofincomeandthentheslowreturntoakindofnormality.Onewaytodescribe our
yearisthatwehavelargelybeenplanningforanddeliveringafullreopeningwhilstsimultaneously minimising
risk and costs to help safeguard our medium to long-term recovery and sustainability of the organisation.
Ourincomefromroomhirewassignificantlyhigherthanthepreviousyearat£180,262butgrantsand income
fromgovernmentandlocalauthoritywaslowerat£114,061duetohalfyearfurloughpayments. Trading
income from the Café Bar was healthy at £84,004. Total turnover was £388,054.
waslowerat£114,061duetohalfyear
oftheorganisation,fora verydifficultandseverely
allthingsareconsidered,wefeelthisisa
largelyunaffectedat£276,285(nominallyincreased
fromtheRoyalBoroughofGreenwichand
roomrentaltousergroups,commercialhirersandfrom
Incomeisalsoproducedfromsalesinthecafébar
fundingfromvarioussourcesonaproject-by-project
year,benefittedconsiderablyfromtheFurloughJob
andSustainabilityinthisnewenvironmentwhichislikely
anambitious,fullblownbusinessplancoveringthe2023
ourworkintheareasofSocialIsolationforVulnerable
Theoverallfinancialperformanceoftheorganisation,fora verydifficultandseverelycompromisedyearwas a
modestdeficitof£5,131.Whenallthingsareconsidered,wefeelthisisamanageablepositionand a
remarkable and positive outcome, one which could have been much more painful.
Ourunrestrictedreservesstayedlargelyunaffectedat£276,285(nominallyincreaseddueto investment
interest)
Principal sources of income
TheVCAreceivescorefundingfromtheRoyalBoroughofGreenwichandoccupiesMycenae House
Community Centre, rent free under a Tenancy at Will lease from them.
Furtherincomeisproducedfromroomrentaltousergroups,commercialhirersandfromprivatefunctions such
asweddingsandbirthdayparties.Incomeisalsoproducedfromsalesinthecafébarfacilities.In-kind funding
is welcomed and is received from various sources.
Theorganisationappliesforprojectfundingfromvarioussourcesonaproject-by-projectbasisfrom Trusts,
Foundations, Government sources and through general fundraising.
Wehave,inthefirsthalfofthisyear,benefittedconsiderablyfromtheFurloughJobRetentionScheme and
other government support funds.
FUTURE PLANS
For the future our plans include: -
-PlanforRecovery,ResilienceandSustainabilityinthisnewenvironmentwhichislikelytoprevailfor several
years yet.
- We aimto beableto drawupanambitious,fullblownbusinessplancoveringthe2023- 2026period.Until the
board are confident to do so we will generate plans on a year-by-year basis.
-WewilldevelopandstrengthenourworkintheareasofSocialIsolationforVulnerableand Disadvantaged
community members through the Reach Out Project model.
- We will continue to develop strong and supportive partnerships with other organisations to deliver our work.
-Undertakingmoredirectfundraising,particularlywithtrustsandfoundations,tosupportourprogramme and
our building development objectives.
- We aim to better support our staff through training and role development.
-Weaimtodelivertheinstallationofthelong-neededliftwithinthenextyeargiventhegenerous financial
support from the Greenwich Neighbourhood Growth Fund (GNGF).
-WewillcontinueournegotiationswithRoyalBoroughofGreenwichforalongleasefortheMycenae House
building which will give us security, allowing us to fulfil the need for a lift to all floors.
-We willconsolidatethegreatworkandsupportthetrusteeshaveprovidedthestaffandorganisation through
difficult times.
Page 3
VANBRUGH COMMUNITY ASSOCIATION
Report of the Trustees
for the Year Ended 31st March 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
VanbrughCommunityAssociation(VCA)isacharitablecompanylimitedbyguaranteewhich was
incorporatedon29thJanuary2001.VCA was originallyregisteredas a charityon29thNovember1994and was
re-registered,afteritsincorporation,on12thMarch2001.TheincorporatedVCAwasestablishedunder a
MemorandumandArticlesofAssociationwhichsetitsobjectsandpowersandisgovernedunderitsArticles of
Association.IntheeventofVCAbeingwoundupmembersarerequiredtocontributeanamount not
exceeding £1.
Recruitment and appointment of Management Committee
OurBoardofTrusteesconsistsofnotmorethan12memberswhoareelectedattheAnnualGeneral Meeting
fromnominationssubmittedbytheMembersoftheVCA.IftherearevacanciesontheBoard,members can
beco-optedatanytimeduringtheyearbutmustretireatthenextAnnualGeneralMeeting.In accordance
withtherequirementsoftheMemorandumandArticlesofAssociation,one-thirdoftheelectedmembers of
theBoardretireateveryAnnualGeneralMeeting.Thememberswhoretirearethosewhohavebeen longest
inofficesincetheirlastelection.Inaddition,ateveryAnnualGeneralMeeting,allco-optedmembersof the
Board must retire. All Committee members who retire are eligible (subject to nomination) to re-election.
All members of the Board give their time voluntarily and receive no benefits.
-
In addition, at every Annual General Meeting, all on the third Tuesday of the month and is
-
the VCA. The HR and Finance Sub-Committees meet on case of the Finance Sub-Committee. The Executive
-
after having had an interview and informal meeting before being co-opted and/or formally voted on to
Governance and management
TheBoardmeetseverytwomonthsonthethirdTuesdayofthemonthandisresponsiblefordeciding the
strategicdirectionandpolicyoftheVCA. TheHRandFinanceSub-Committeesmeetonanas-needed basis.
Thisisusuallyeverymonth,inthecaseoftheFinanceSub-Committee.TheExecutiveDirectorisresponsible for
the day to day running of Mycenae House and the implementation of Board decisions.
Trustee induction and training
AllnewTrusteesareintroducedafterhavinghadaninterviewandinformalmeetingwiththeChair.They are
invitedtoobserveatrusteemeetingbeforebeingco-optedand/orformallyvotedontothecommittee. They
are then given an induction pack of information containing key policies, advice and roles and responsibilities.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04149483 (England and Wales)
Registered Charity number
1085503
Registered office
Mycenae House
90 Mycenae Road
Blackheath
London
SE3 7SE
Trustees
J Stephenson - Chair
S Whyatt - Treasurer
S Peck
P Dixon
R Allen
H Sanghara
R Patenall
J Thomas
L Durrant (appointed 16.11.21)
M Spence (appointed 16.11.21)
Page 4
VANBRUGH COMMUNITY ASSOCIATION
Report of the Trustees for the Year Ended 31st March 2022
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
MastersFuller
Chartered Certified Accountants
38 Salisbury Road
Worthing
West Sussex
BN11 1RD
Bankers
Barclays Bank plc.
43A Vanbrugh Park
Blackheath
London
SE3 7AB
-
recognise the importance and brilliance of the work commitment, hard work, flexibility, and diligence
-
the Royal Borough of Greenwich for their support and
-
to place on record his thanks to the Chair, the Treasurer
Executive Director
Mark Johnson-Brown
Website
www.mycenaehouse.co.uk
TheTrusteesandExecutiveDirectorrecognisetheimportanceandbrillianceoftheworkofthestaffto make
MycenaeHousethrive.Theirexceptionalcommitment,hardwork,flexibility,anddiligencethroughoutthe year
to support and help Mycenae House to survive the significant challenges thrown at it.
ThetrusteeswouldalsoliketothanktheRoyalBoroughofGreenwichfortheirsupportandtootherpartners for
their extraordinary support during this time.
TheExecutiveDirectorwouldliketo placeonrecordhisthanksto theChair,theTreasurerandothertrustees for
the unwavering support shown to him and the team during the last year.
Approved by order of the Board of Trustees on ............................................. and signed on its behalf by:
...........................................................................
S Whyatt - Trustee
Page 5
Independent Examiner's Report to the Trustees of
Vanbrugh Community Association
Independent examiner's report to the trustees of Vanbrugh Community Association ('the Company')
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31st March 2022.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act
2006 ('the 2006 Act').
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16of the
2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyour charity's
accountsascarriedoutundersection145oftheCharitiesAct2011('the2011Act').Incarryingout my
examinationIhavefollowedtheDirectionsgivenbytheCharityCommissionundersection145(5)(b)of the
2011 Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody.I can
confirmthatIam qualifiedto undertaketheexaminationbecauseIam a registeredmemberofACCA which is
one of the listed bodies.
-
the because I am a registered
-
I confirm that no matters have come to my attention
-
not kept in respect of the Company as required by with the accounting requirements of section 396
-
the accounts give a true and fair view which is not a
-
been prepared in accordance with the methods Practice for accounting and reporting by
-
accounts in accordance with the Financial Reporting come across no other matters in connection with the report in order to enable a proper understanding of
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnection with
the examination giving me cause to believe:
1.accountingrecordswerenotkeptinrespectoftheCompanyasrequiredbysection386ofthe 2006
Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
I M Walker FCCA
ACCA
MastersFuller
38 Salisbury Road
Worthing
West Sussex
BN11 1RD
Date: .............................................
Page 6
VANBRUGH COMMUNITY ASSOCIATION
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) for the Year Ended 31st March 2022
DRAF
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
4,424
Charitable activities
5
Hall & room rental
180,262
Grants
112,561
Other trading activities
3
84,004
Investment income
4
114
Total
381,365
EXPENDITURE ON
Raising funds
6
62,165
Charitable activities
7
Centre running expenses
322,995
Total
385,160
NET INCOME/(EXPENDITURE)
(3,795)
Transfers between funds
16
22,820
Net movement in funds
19,025
RECONCILIATION OF FUNDS
Total funds brought forward
330,643
TOTAL FUNDS CARRIED FORWARD
349,668 |
T
Restricted
funds
£
58
-
1,500
-
-
1,558
-
2,894
2,894
(1,336)
(22,820)
(24,156)
234,086
209,930 |
2022
Total
funds
£
4,482
180,262
114,061
84,004
114
382,923
62,165
325,889
388,054
(5,131)
-
(5,131)
564,729
559,598 |
2021
Total
funds
£
5,088
59,703
435,218
13,345
993 |
|
|
|
514,347
47,427
290,242 |
|
|
|
337,669 |
|
|
|
176,678
- |
|
|
|
176,678
388,051 |
|
|
|
564,729 |
|
|
|
|
The notes form part of these financial statements
Page 7
VANBRUGH COMMUNITY ASSOCIATION
Balance Sheet
31st March 2022
2022 |
2021 |
Unrestricted
Restricted
Total |
Total |
funds
funds
funds |
funds |
Notes
£
£
£ |
£ |
FIXED ASSETS |
|
Tangible assets
11
44,138
-
44,138 |
22,763 |
CURRENT ASSETS |
|
Stocks
12
3,908
-
3,908 |
2,182 |
Debtors
13
20,772
-
20,772 |
9,093 |
Investments
14
276,285
-
276,285 |
276,191 |
Cash at bank and in hand
35,397
209,930
245,327 |
263,667 |
336,362
209,930
546,292 |
551,133 |
DRAFT
CREDITORS
Amounts falling due within one year
15
(30,832)
-
(30,832)
(9,167)
NET CURRENT ASSETS
305,530
209,930
515,460
541,966
TOTAL ASSETS LESS CURRENT LIABILITIES
349,668
209,930
559,598
564,729
NET ASSETS
349,668
209,930
559,598
564,729
FUNDS
16
Unrestricted funds
349,668
330,643
Restricted funds
209,930
234,086
TOTAL FUNDS
559,598
564,729
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for
the year ended 31st March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended
31st March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)
ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387
of the Companies Act 2006 and
(b)
preparingfinancialstatementswhichgiveatrueandfairviewofthestateofaffairsofthe charitable |
|
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:
.............................................
S Whyatt - Trustee
The notes form part of these financial statements
Page 8
VANBRUGH COMMUNITY ASSOCIATION
Cash Flow Statement
for the Year Ended 31st March 2022
DRA
Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Interest received on bonds
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period |
FT
2022
2021
£
£
12,263
186,176
12,263
186,176
(30,623)
(23,561)
114
993
(94)
(972)
(30,603)
(23,540)
(18,340)
162,636
263,667
101,031
245,327
263,667 |
|
|
The notes form part of these financial statements
Page 9
VANBRUGH COMMUNITY ASSOCIATION
Notes to the Cash Flow Statement
for the Year Ended 31st March 2022
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
20222021
££
Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities) (5,131)176,678
Adjustments for:
Depreciation charges9,2488,355
Interest received(114)(993)
(Increase)/decrease in stocks(1,726)1,324
(Increase)/decrease in debtors(11,679)11,855
Increase/(decrease) in creditors21,665(11,043)
Net cash provided by operations 12,263186,176
2.ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.21Cash flowAt 31.3.22
£££
Net cash
Cash at bank and in hand263,667(18,340)245,327
263,667(18,340)245,327
Liquid resources
Deposits included in cash---
Current asset investments276,19194276,285
276,19194276,285
Total539,858(18,246)521,612
The notes form part of these financial statements
Page 10
VANBRUGH COMMUNITY ASSOCIATION
Notes to the Financial Statements
for the Year Ended 31st March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS
102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements
have been prepared under the historical cost convention.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementto the
funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
-
as expenditure as soon as there is a legal or
-
that expenditure, it is probable that a transfer of the amount of the obligation can be measured basis and has been classified under headings
-
Where costs cannot be directly attributed to particular
-
at cost less accumulated depreciation. The costs of at the following annual rates in order to write off each lower of cost and net realisable value, after making used in accordance with the charitable objectives at
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Fixedassetsarestatedatcostlessaccumulateddepreciation.Thecostsofminoradditions below
£1,000 are not capitalised and are included in the SOFA.
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoverits estimated
useful life.
Fixtures, fitting & equipment - 20% on cost
Stocks
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowance for
obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayable to
thecharitablecompany'spensionschemearechargedtotheStatementofFinancialActivitiesin the
period to which they relate.
Contributionspayable to
2. DONATIONS AND LEGACIES
DONATIONS AND LEGACIES |
|
|
|
2022 |
2021 |
|
£ |
£ |
Membership subscriptions |
88 |
989 |
Fundraising & donations |
4,394 |
4,099 |
|
4,482 |
5,088 |
continued...
Page 11
VANBRUGH COMMUNITY ASSOCIATION
Notes to the Financial Statements - continued
for the Year Ended 31st March 2022
3. OTHER TRADING ACTIVITIES
DRAFT
Bar
Events
Advertising
4.
INVESTMENT INCOME
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Hall & room hire
Hall & room rental
Royal Borough of
Greenwich
Grants
EYES grant
Grants
Reach Out grant
Grants
NGF Digital grant
Grants
CJRS
Grants
Grants received, included in the above, are as follows:
Service level agreement
GNGF Development grant
Covid
6.
RAISING FUNDS
Other trading activities
Purchases
Staff costs |
2022
£
78,455
2,029
3,520
84,004
2022
£
114
2022
£
180,262
23,250
24,598
4,756
1,500
59,957
294,323
2022
£
11,250
-
12,000
23,250
2022
£
31,799
30,366
62,165 |
2021
£
13,332
13
-
13,345
2021
£
993
2021
£
59,703
288,322
4,523
-
-
142,373 |
2021
£
13,332
13
- |
|
|
|
13,345 |
|
|
494,921 |
|
|
|
2021
£
15,000
232,750
40,572 |
|
|
|
288,322 |
|
|
|
2021
£
7,748
39,679
47,427 |
|
continued...
Page 12
VANBRUGH COMMUNITY ASSOCIATION
Notes to the Financial Statements - continued for the Year Ended 31st March 2022
7. CHARITABLE ACTIVITIES COSTS
----- Start of picture text -----
Direct
Costs
£
Centre running expenses 325,889
8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2022 2021
£ £
Depreciation - owned assets 9,248 8,355
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2022 nor for the
year ended 31st March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2022 nor for the year ended
31st March 2021.
10. STAFF COSTS
2022 2021
£ £
Wages and salaries 244,433 255,548
Social security costs 7,975 16,771
Other pension costs 3,909 3,866
256,317 276,185
The average monthly number of employees during the year was as follows:
2022 2021
Bar staff 5 5
House supervisors 5 5
Administration 4 4
Project manager 1 1
15 15
No employees received emoluments in excess of £60,000.
DRAFT
----- End of picture text -----
continued...
Page 13
VANBRUGH COMMUNITY ASSOCIATION
Notes to the Financial Statements - continued
for the Year Ended 31st March 2022
11. TANGIBLE FIXED ASSETS
DRA
COST
At 1st April 2021
Additions
At 31st March 2022
DEPRECIATION
At 1st April 2021
Charge for year
At 31st March 2022
NET BOOK VALUE
At 31st March 2022
At 31st March 2021
12.
STOCKS
Stocks
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
VAT
14.
CURRENT ASSET INVESTMENTS
Fixed term bonds |
FT
Long
leasehold
£
-
22,820
22,820
-
1,141
1,141
21,679
- |
& |
Fixtures,
fittings
equipment
£
131,039
7,803
138,842
108,276
8,107
116,383
22,459
22,763
2022
£
3,908
2022
£
19,574
50
1,148
20,772
2022
£
276,285 |
Totals
£
131,039
30,623 |
Totals
£
131,039
30,623 |
|
|
|
|
161,662 |
|
|
|
|
|
108,276
9,248 |
|
|
|
|
|
117,524 |
|
|
|
|
|
|
44,138 |
|
|
|
|
|
22,763 |
|
|
|
|
2021
£
2,182
2021
£
7,939
-
1,154
9,093
2021
£
276,191 |
2021
£
2,182
2021
£
7,939
-
1,154 |
|
|
|
|
|
9,093 |
continued...
Page 14
VANBRUGH COMMUNITY ASSOCIATION
Notes to the Financial Statements - continued
for the Year Ended 31st March 2022
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accrued expenses |
2022
2021
£
£
17,841
4,937
12,991
4,230
30,832
9,167 |
|
|
16. MOVEMENT IN FUNDS
DR
Unrestricted funds
General fund
Capital Works Reserve fund
Restricted funds
Digital Grant
GNGF Development fund
TOTAL FUNDS
Net movement in funds, included in the above a
Unrestricted funds
General fund
Restricted funds
Digital Grant
TOTAL FUNDS |
AFT
Net
Transfers
movement
between
At
At 1.4.21
in funds
funds
31.3.22
£
£
£
£
171,907
(3,795)
22,820
190,932
158,736
-
-
158,736
330,643
(3,795)
22,820
349,668
1,336
(1,336)
-
-
232,750
-
(22,820)
209,930
234,086
(1,336)
(22,820)
209,930
564,729
(5,131)
-
559,598
re as follows:
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
381,365
(385,160)
(3,795)
1,558
(2,894)
(1,336)
382,923
(388,054)
(5,131) |
|
|
continued...
Page 15
VANBRUGH COMMUNITY ASSOCIATION
Notes to the Financial Statements - continued
for the Year Ended 31st March 2022
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Net |
|
movement |
At |
At 1.4.20
in funds |
31.3.21 |
£
£ |
£ |
Unrestricted funds |
|
General fund
226,003
(54,096) |
171,907 |
Capital Works Reserve fund
158,736
- |
158,736 |
384,739
(54,096) |
330,643 |
Restricted funds |
|
Digital Grant
3,312
(1,976) |
1,336 |
DRAFT
GNGF Development fund
-
232,750
232,750
3,312
230,774
234,086
TOTAL FUNDS
388,051
176,678
564,729
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
Unrestricted funds
General fund
281,597
(335,693)
(54,096)
Restricted funds
Digital Grant
-
(1,976)
(1,976)
GNGF Development fund
232,750
-
232,750
232,750
(1,976)
230,774
TOTAL FUNDS
514,347
(337,669)
176,678
The Capital Works Reserve fund is a designated fund and has been set aside for the installation of
passenger lift and the refurbishment of the bars and kitchen, subject to obtaining security of tenure
Mycenae House.
The GNGF (Greenwich Neighbourhood Growth Fund) Development fund is a restricted fund. The gra
from RBG is allocated to expenditure to make Mycenae House fully accessible and as user friendly as |
|
TheCapitalWorksReservefundisadesignatedfundandhasbeensetasidefortheinstallationof a
passengerliftandtherefurbishmentofthebarsandkitchen,subjecttoobtainingsecurityoftenure of
Mycenae House.
TheGNGF(GreenwichNeighbourhoodGrowthFund)Developmentfundisarestrictedfund.The grant
fromRBGisallocatedtoexpendituretomakeMycenaeHousefullyaccessibleandasuserfriendlyas is
viably possible.
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2022.
Page 16
VANBRUGH COMMUNITY ASSOCIATION
Detailed Statement of Financial Activities
for the Year Ended 31st March 2022
DRAFT
INCOME AND ENDOWMENTS
Donations and legacies
Membership subscriptions
Fundraising & donations
Other trading activities
Bar
Events
Advertising
Investment income
Deposit account interest
Charitable activities
Hall & room hire
Royal Borough of Greenwich
EYES grant
Reach Out grant
NGF Digital grant
CJRS
Total incoming resources
EXPENDITURE
Other trading activities
Purchases
Wages
Charitable activities
Wages
Social security
Pensions
Rates & water
Insurance
Light & heat
Telephone
Postage & stationery
Advertising
Sundries
Cleaning
Repairs & maintenance
Training
Carried forward |
2022
£
88
4,394
4,482
78,455
2,029
3,520
84,004
114
180,262
23,250
24,598
4,756
1,500
59,957
294,323
382,923
31,799
30,366
62,165
214,067
7,975
3,909
3,483
1,830
13,782
2,564
5,597
6,731
4,763
10,089
25,086
157
300,033 |
2021
£
989
4,099 |
|
|
5,088
13,332
13
- |
|
|
13,345
993
59,703
288,322
4,523
-
-
142,373 |
|
|
494,921 |
|
|
514,347
7,748
39,679 |
|
|
47,427
215,869
16,771
3,866
385
1,500
10,201
2,160
2,048
3,070
830
7,913
10,865
-
275,478 |
This page does not form part of the statutory financial statements
Page 17
VANBRUGH COMMUNITY ASSOCIATION
Detailed Statement of Financial Activities
for the Year Ended 31st March 2022
Detailed Statement of Financial Activities
for the Year Ended 31st March 2022 |
|
|
Charitable activities
Brought forward
Events
Bank charges
Legal & professional fees
Accountancy
Project costs
Long leasehold
Depreciation
Total resources expended
Net (expenditure)/income |
2022
£
300,033
2,429
2,988
3,118
1,080
6,993
1,141
8,107
325,889
388,054
(5,131) |
2021
£
275,478
30
1,356
903
1,056
3,064
-
8,355 |
|
|
290,242 |
|
|
337,669 |
|
|
176,678 |
Net (expenditure)/income (5,131)
This page does not form part of the statutory financial statements
Page 18