**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 2023**
## **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 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|5|
|**Independent Examiner's Report**||6||
|**Statement of Financial Activities**||7||
|**Balance Sheet**|8|to|9|
|**Cash Flow Statement**||10||
|**Notes to the Cash Flow Statement**||11||
|**Notes to the Financial Statements**|12|to|17|
|**Detailed Statement of Financial Activities**|18|to|19|
**VANBRUGH COMMUNITY ASSOCIATION**
## **Report of the Trustees for the Year Ended 31st March 2023**
The VCA trustees, who are the directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objectives of Vanbrugh Community Association are: to promote the benefit of the inhabitants of the London Borough of Greenwich and especially the Blackheath, Westcombe and adjoining wards by furthering their education, social welfare and leisure opportunities as a means of improving their quality of life, and specifically by managing a community venue to provide a base for activities which will help achieve those objectives.
## **Main activities for public benefit**
There are currently 125 groups who use Mycenae House on a regular basis, of which 32 are Affiliated to the VCA and 31 are Private Member groups. The activities of the groups fit largely within the categories of Healthy & Wellbeing, Arts and Culture and Children and Education. The range of activities provided includes physical exercise, mental health, visual arts, music, singing, nature and conservation, dance, senior citizen activities, local history, science appreciation, judo, martial arts, weight control, acting and theatre skills, languages, and healing. The house also provides facilities for a children's pre-school nursery and creative education, hosts meetings, training sessions and conferences for professional organisations, provides classroom facilities for international schools and space for the RBG & NHS Social Services family contact sessions, counselling, and mental health support services, as well as being a Polling Station in National and Local Elections.
There are two community organisations which have offices in the house and there are two artists in residence. In addition, the VCA organises its own programme of cultural events which include live music, theatre and visual arts, fairs, and talks.
Our well-established Reach Out Project works to tackle and reduce social isolation, inequality, and supports diversity in our local community through offering social activities, support sessions and access to services.
The VCA is also a partner in the Friends of Mycenae Gardens, The Eyes EU Intereg project, the annual Parksfest event in Mycenae Gardens and the Westcombe Society's various fundraising events, including the MacMillan Coffee Morning. 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**
When accepting bookings and planning activities at the Centre, we strive to comply with the VCA's mission, it's social value commitments and requirements in accordance the Service Level Agreement with the Royal Borough of Greenwich, Section 4 of the Charities Act 2016 and the guidance issued by the Charity Commission on Social Value. The general principles that we adhere to are:
- Affiliated group activities and other regular hirers must provide a clear public benefit which gives a social, educational, health and/or wellbeing benefit to participating residents of the Ward and the Borough.
- Private Members hire activities must also create a public benefit and make a positive contribution to the finances of the Centre.
- Provide low cost, suitable and accessible spaces and resources for community development and social needs.
- Aim to develop accessible popular events and social opportunities for the benefit of residents of the Ward and the Borough, particularly the socially excluded and vulnerable communities.
- The VCA/Mycenae House are signatories of and committed to the principles of the Royal Borough of Greenwich's Equality and Equity Charter.
Page 1
**VANBRUGH COMMUNITY ASSOCIATION**
## **Report of the Trustees for the Year Ended 31st March 2023**
## **ACHIEVEMENT AND PERFORMANCE**
## **Achievement & performance**
The operational and financial year of 2022-2023 can be characterised largely as twitchy and unpredictable but with an underlying self-confidence in a stable base and an ability to bounce back.
The key factors affecting the year can be distilled down to: -
1. Recovering from the effects of the Covid lockdown
2. Rebuilding the customer base and community confidence
3. Dealing with a smaller customer and income base
4. Dealing with the effects of the Cost-of-Living crisis including the cost of utilities and increase in the cost of goods.
5. We still have a viable business with strong demand from the community/public.
In October we re-applied for the four-year funding contract/grant from the Royal Borough of Greenwich. Our application was initially turned down but was agreed on appeal. A presentation was made to the Overview and Scrutiny Committee. Our four-year grant is fixed at £10,000 per year, a reduction from £15,000 per annum.
Our Reach Out Project is a targeted programme to tackle social isolation and the vulnerable and disadvantaged amongst our community. The demand for these services has grown dramatically since the Covid lockdown. Our programme relies on partnership working with external specialists which present a challenge as many partners are reducing their activity. We are actively seeking more financial support to meet the demand.
The Café bar has remained the most resilient part of the business, with income remaining strong despite major increases in costs from suppliers. We Increased our prices by as much as to 10% during this time.
Our own and partnership-based arts and cultural programme has continued at a reasonable level but with slightly smaller audiences over the last 3 year. We have operated with with an acute lower risk-taking approach. The number of partners has got smaller but over the last few months there is a trend for audiences returning to events in larger numbers.
The staff team have remained largely positive and committed during this time despite the many challenges. It is a source of pride that collectively we provide a very warm, welcoming, and supporting environment to all. The staff numbers have remained consistent ans we are pleased not to have had to make any staff redundant.
Operationally, administratively, and promotionally we have maintained to present a 'service as usual' atmosphere which has been warmly welcomed by others. All marketing and promotional activity has carried on as normal.
## **Management and administration**
We have maintained an effective operation with regular board meetings, quorate with the help of Zoom online services to help everyone attend. The support for staff and organisation by the board has been very welcome. The administrative and financial operations have remained fully functional with close attention being paid by staff to the future bookings, cashflow and financial management. It has to be said however that it is difficult to plan with any confidence for long term operations, due to external circumstances.
## **Maintenance, repairs and improvements**
We continued to maintain the infrastructure and fabric of the inside of the centre as required by our Tenancy at Will contract with RBG. The outside of the building is the responsibility of RBG who have very limited resources to maintain it. We from time to time to undertake maintenance on the outside of the building, for example repair to sash windows and external fire escape which present major health and safety threats to users and visitors.
## **FINANCIAL REVIEW**
## **Reserves policy**
The policy of the VCA is to hold financial reserves that, at minimum, are equivalent to the total operating costs of Mycenae House for a period of six months. For the year to March 2022 the Trustees considered that 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:
- the loss/reduction of core funding from the Royal Borough of Greenwich and
- a reduction in Centre usage resulting in loss of income.
In addition, we continue to hold a Capital Works Reserve Fund to cover the anticipated cost of future major improvements we will seek to undertake to Mycenae House once we have been granted a long lease by the Royal Borough of Greenwich. The main component of this programme will be the installation of a 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 2023**
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
The Trustees continue to take the view that bank deposits, savings bonds and building society savings accounts best meet the need for securing some return on our financial reserves for a minimum of risk. In these uncertain times the income from investments and interest has reduced to being largely negligible and this strategy is under review.
## **Overall position**
The organisation experienced a further non-typical year which was affected by the major challenges of Covid, the cost of living crisis and associated financial effects. However, the turnover increased from £325.889 in 2021/22 to £379.037 in 2022/23. The costs of delivering services increased from £388.054 in the previous financial year to £465.702. This resulted in bottom line losses increasing from -£5131 to -£26,665.
Whilst this is a disappointing outcome for any normal year's operation, we feel it is a result of extraordinary external circumstances which could have been much worse.
Room and Hall hire increased from £180,262 to £269,681 The income from Café/Bar sales increased from £78,455 to £124,136
Our reserves remained largely constant sitting at £382,923.
## **Principal sources of income**
The VCA receives core funding from the Royal Borough of Greenwich and occupies Mycenae House Community Centre, rent free under a Tenancy at Will lease from them.
Further income is produced from room rental to user groups, commercial hirers and from private functions such as weddings and birthday parties. Income is also produced from sales in the café bar facilities. In-kind funding is welcomed and is received from various sources.
The organisation applies for project funding from various sources on a project-by-project basis from Trusts, Foundations, Government sources and through general fundraising.
We have, in the first half of this year, benefitted considerably from the Furlough Job Retention Scheme and other government support funds.
## **FUTURE PLANS**
For the future our plans include: -
- Plan for Recovery, Resilience and Sustainability in this new environment which is likely to prevail for several years yet.
- We aim to be able to draw up an ambitious, full blown business plan covering the 2023 - 2026 period. Until the board are confident to do so we will generate plans on a year-by-year basis.
- We will develop and strengthen our work in the areas of Social Isolation for Vulnerable and 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.
- Undertaking more direct fundraising, particularly with trusts and foundations, to support our programme and our building development objectives.
- We aim to better support our staff through training and role development.
- We aim to deliver the installation of the long-needed lift within the next year given the generous financial support from the Greenwich Neighbourhood Growth Fund (GNGF).
- We will continue our negotiations with Royal Borough of Greenwich for a long lease for the Mycenae House building which will give us security, allowing us to fulfil the need for a lift to all floors.
- We will consolidate the great work and support the trustees have provided the staff and organisation through difficult times.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
Vanbrugh Community Association (VCA) is a charitable company limited by guarantee which was incorporated on 29th January 2001. VCA was originally registered as a charity on 29th November 1994 and was re-registered, after its incorporation, on 12th March 2001. The incorporated VCA was established under a Memorandum and Articles of Association which set its objects and powers and is governed under its Articles of Association. In the event of VCA being wound up members are required to contribute an amount not exceeding £1.
Page 3
**VANBRUGH COMMUNITY ASSOCIATION**
## **Report of the Trustees**
## **for the Year Ended 31st March 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of Management Committee**
Our Board of Trustees consists of not more than 12 members who are elected at the Annual General Meeting from nominations submitted by the Members of the VCA. If there are vacancies on the Board, members can be co-opted at any time during the year but must retire at the next Annual General Meeting. In accordance with the requirements of the Memorandum and Articles of Association, one-third of the elected members of the Board retire at every Annual General Meeting. The members who retire are those who have been longest in office since their last election. In addition, at every Annual General Meeting, all co-opted members of 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.
## **Governance and management**
The Board meets every two months on the third Tuesday of the month and is responsible for deciding the strategic direction and policy of the VCA. The HR and Finance Sub-Committees meet on an as-needed basis. This is usually every month, in the case of the Finance Sub-Committee. The Executive Director is responsible for the day to day running of Mycenae House and the implementation of Board decisions.
## **Trustee induction and training**
All new Trustees are introduced after having had an interview and informal meeting with the Chair. They are invited to observe a trustee meeting before being co-opted and/or formally voted on to the committee. 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 P Dixon R Allen H Sanghara R Patenall J Thomas L Durrant M Spence
## **Independent Examiner**
MastersFuller Chartered Certified Accountants 38 Salisbury Road Worthing West Sussex BN11 1RD
Page 4
**VANBRUGH COMMUNITY ASSOCIATION**
## **Report of the Trustees for the Year Ended 31st March 2023**
## **REFERENCE AND ADMINISTRATIVE DETAILS Bankers**
Barclays Bank plc. 43A Vanbrugh Park Blackheath London SE3 7AB
## **Executive Director**
Mark Johnson-Brown
## **Website**
www.mycenaehouse.co.uk
The Trustees and Executive Director recognise the importance and brilliance of the work of the staff to make Mycenae House thrive. Their exceptional commitment, hard work, flexibility, and diligence throughout the year to support and help Mycenae House to survive the significant challenges thrown at it.
The trustees would also like to thank the Royal Borough of Greenwich for their support and to other partners for their extraordinary support during this time.
The Executive Director would like to place on record his thanks to the Chair, the Treasurer and other trustees for the unwavering support shown to him and the team during the last year.
Approved by order of the Board of Trustees on 25th September 2023 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')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2023.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the **ERROR - relevant professional body must be completed**, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 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)).
I have no concerns and 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.
I M Walker FCCA
MastersFuller 38 Salisbury Road Worthing West Sussex BN11 1RD
25th September 2023
Page 6
## **VANBRUGH COMMUNITY ASSOCIATION**
## **Statement of Financial Activities**
## **(Incorporating an Income and Expenditure Account) for the Year Ended 31st March 2023**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**7,090**
**Charitable activities**
5
Hall & room rental
**269,681**
Grants
**31,984**
Other trading activities
3
**128,666**
Investment income
4
**1,616**
**Total**
**439,037**
**EXPENDITURE ON**
Raising funds
6
**86,665**
**Charitable activities**
7
Centre running expenses
**379,037**
**Total**
**465,702**
**NET INCOME/(EXPENDITURE)**
**(26,665)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**349,668**
**TOTAL FUNDS CARRIED FORWARD**
**323,003**|Restricted
funds
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**209,930**
**209,930**|**2023**
**Total**
**funds**
**£**
**7,090**
**269,681**
**31,984**
**128,666**
**1,616**
**439,037**
**86,665**
**379,037**
**465,702**
**(26,665)**
**559,598**
**532,933**|2022
Total
funds
£
4,482
180,262
114,061
84,004
114
382,923
62,165
325,889
388,054
(5,131)
564,729
559,598|
|---|---|---|---|
The notes form part of these financial statements
Page 7
**VANBRUGH COMMUNITY ASSOCIATION**
## **Balance Sheet**
## **31st March 2023**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
11
**47,023**
**CURRENT ASSETS**
Stocks
12
**4,788**
Debtors
13
**29,913**
Investments
14
**67,394**
Cash at bank and in hand
**198,070**
**300,165**
**CREDITORS**
Amounts falling due within one year
15
**(24,185)**
**NET CURRENT ASSETS**
**275,980**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**323,003**
**NET ASSETS**
**323,003**
**FUNDS**
16
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
**-**
**-**
**-**
**209,930**
**-**
**209,930**
**-**
**209,930**
**209,930**
**209,930**|**2023**
**Total**
**funds**
**£**
**47,023**
**4,788**
**29,913**
**277,324**
**198,070**
**510,095**
**(24,185)**
**485,910**
**532,933**
**532,933**
**323,003**
**209,930**
**532,933**|2022
Total
funds
£
44,138
3,908
20,772
276,285
245,327
546,292
(30,832)
515,460
559,598
559,598
349,668
209,930
559,598|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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) 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.
The notes form part of these financial statements
continued...
Page 8
**VANBRUGH COMMUNITY ASSOCIATION**
## **Balance Sheet - continued**
## **31st March 2023**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 25th September 2023 and were signed on its behalf by:
S Whyatt - Trustee
The notes form part of these financial statements
Page 9
## **VANBRUGH COMMUNITY ASSOCIATION**
## **Cash Flow Statement**
## **for the Year Ended 31st March 2023**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash (used in)/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**|**2023**
**£**
**(32,661)**
**(32,661)**
**(15,173)**
**1,616**
**(1,039)**
**(14,596)**
**(47,257)**
**245,327**
**198,070**|2022
£
12,263
12,263
(30,623)
114
(94)
(30,603)
(18,340)
263,667
245,327|
|---|---|---|
The notes form part of these financial statements
Page 10
**VANBRUGH COMMUNITY ASSOCIATION**
## **Notes to the Cash Flow Statement**
## **for the Year Ended 31st March 2023**
## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**
## **2.**
|**ACTIVITIES**||||
|---|---|---|---|
|||**2023**|2022|
|||**£**|£|
|**Net expenditure for the reporting period (as per the Statement of**||||
|**Financial Activities)**||**(26,665)**|(5,131)|
|**Adjustments for:**||||
|Depreciation charges||**12,288**|9,248|
|Interest received||**(1,616)**|(114)|
|Increase in stocks||**(880)**|(1,726)|
|Increase in debtors||**(9,141)**|(11,679)|
|(Decrease)/increase in creditors||**(6,647)**|21,665|
|**Net cash (used in)/provided by operations**||**(32,661)**|12,263|
|**ANALYSIS OF CHANGES IN NET FUNDS**||||
||At 1.4.22|Cash flow|**At 31.3.23**|
||£|£|**£**|
|**Net cash**||||
|Cash at bank and in hand|**245,327**|**(47,257)**|**198,070**|
||**245,327**|**(47,257)**|**198,070**|
|**Liquid resources**||||
|Deposits included in cash|**-**|**-**|**-**|
|Current asset investments|**276,285**|**1,039**|**277,324**|
||**276,285**|**1,039**|**277,324**|
|**Total**|**521,612**|**(46,218)**|**475,394**|
The notes form part of these financial statements
Page 11
**VANBRUGH COMMUNITY ASSOCIATION**
## **Notes to the Financial Statements**
## **for the Year Ended 31st March 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Fixed assets are stated at cost less accumulated depreciation. The costs of minor additions below £1,000 are not capitalised and are included in the SOFA.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fitting & equipment - 20% on cost
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 12
## **VANBRUGH COMMUNITY ASSOCIATION**
|**Notes to the Financial Statements- continued**
**for the Year Ended 31st March 2023**
**2.**
**DONATIONS AND LEGACIES**
Membership subscriptions
Fundraising & donations
**3.**
**OTHER TRADING ACTIVITIES**
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
Covid|**2023**
**£**
**3,272**
**3,818**
**7,090**
**2023**
**£**
**124,136**
**1,340**
**3,190**
**128,666**
**2023**
**£**
**1,616**
**2023**
**£**
**269,681**
**15,000**
**5,100**
**11,884**
**-**
**-**
**301,665**
**2023**
**£**
**15,000**
**-**
**15,000**|2022
£
88
4,394
4,482
2022
£
78,455
2,029
3,520|2022
£
88
4,394
4,482
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|
continued...
Page 13
**VANBRUGH COMMUNITY ASSOCIATION**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31st March 2023**
## **6. RAISING FUNDS**
## **Other trading activities**
|Purchases
Staff costs
**7.**
**CHARITABLE ACTIVITIES COSTS**
Centre running expenses
**8.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|**2023**
**£**
**54,486**
**32,179**
**86,665**
**2023**
**£**
**12,288**|2022
£
31,799
30,366
62,165
Direct
Costs
£
**379,037**|2022
£
31,799
30,366|
|---|---|---|---|
||||62,165|
|||2022
£
9,248||
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022.
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Bar staff
House supervisors
Administration
Project manager||**2023**
**£**
**243,635**
**16,594**
**4,445**
**264,674**
**2023**
**4**
**4**
**4**
**1**
**13**||2022
£
244,433
7,975
3,909|
|---|---|---|---|---|
|||||256,317|
|||||2022
5
5
4
1
15|
continued...
Page 14
**VANBRUGH COMMUNITY ASSOCIATION**
## **Notes to the Financial Statements - continued for the Year Ended 31st March 2023**
## **10. STAFF COSTS - continued**
No employees received emoluments in excess of £60,000.
## **11. TANGIBLE FIXED ASSETS**
|**COST**
At 1st April 2022
Additions
At 31st March 2023
**DEPRECIATION**
At 1st April 2022
Charge for year
At 31st March 2023
**NET BOOK VALUE**
At 31st March 2023
At 31st March 2022
**12.**
**STOCKS**
Stocks
**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
VAT
Prepayments|Fixtures,
Long
fittings
leasehold
& equipment
£
£
**22,820**
**138,842**
**-**
**15,173**
**22,820**
**154,015**
**1,141**
**116,383**
**1,141**
**11,147**
**2,282**
**127,530**
**20,538**
**26,485**
21,679
22,459
**2023**
**£**
**4,788**
**2023**
**£**
**28,769**
**-**
**504**
**640**
**29,913**|Totals
£
**161,662**
**15,173**|Totals
£
**161,662**
**15,173**|Totals
£
**161,662**
**15,173**|
|---|---|---|---|---|
|||**176,835**|||
|||**117,524**
**12,288**|||
|||**129,812**|||
||||**47,023**||
||||44,138||
||||2022
£
3,908
2022
£
19,574
50
1,148
-|2022
£
3,908|
||||20,772||
Page 15
continued...
**VANBRUGH COMMUNITY ASSOCIATION**
## **Notes to the Financial Statements - continued for the Year Ended 31st March 2023**
## **14. CURRENT ASSET INVESTMENTS**
|Fixed term bonds
**15.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Accrued expenses
**16.**
**MOVEMENT IN FUNDS**
At 1.4.22
£
**Unrestricted funds**
General fund
**190,932**
Capital Works Reserve fund
**158,736**
**349,668**
**Restricted funds**
GNGF Development fund
**209,930**
**TOTAL FUNDS**
**559,598**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
**439,037**
**TOTAL FUNDS**
**439,037**||**2023**
**£**
**277,324**
**2023**
**£**
**10,161**
**14,024**
**24,185**
Net
movement
in funds
£
**(26,665)**
**-**
**(26,665)**
**-**
**(26,665)**
Resources
expended
£
**(465,702)**
**(465,702)**||
|---|---|---|---|
|||||
Page 16
continued...
**VANBRUGH COMMUNITY ASSOCIATION**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31st March 2023**
## **16. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Capital Works Reserve fund
**Restricted funds**
Digital Grant
GNGF Development fund
**TOTAL FUNDS**|At 1.4.21
£
171,907
158,736
330,643
1,336
232,750
234,086
564,729|Net
movement
in funds
£
(3,795)
-
(3,795)
(1,336)
-
(1,336)
(5,131)|Transfers
between
funds
£
22,820
-
22,820
-
(22,820)
(22,820)
-|At
31.3.22
£
190,932
158,736|
|---|---|---|---|---|
|||||349,668
-
209,930|
|||||209,930|
|||||559,598|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Digital Grant
**TOTAL FUNDS**|Incoming
resources
£
381,365
1,558
382,923|Resources
Movement
expended
in funds
£
£
(385,160)
(3,795)
(2,894)
(1,336)
(388,054)
(5,131)|Resources
Movement
expended
in funds
£
£
(385,160)
(3,795)
(2,894)
(1,336)
(388,054)
(5,131)|
|---|---|---|---|
||||(5,131)|
The Capital Works Reserve fund is a designated fund and has been set aside for the installation of a passenger lift and the refurbishment of the bars and kitchen, subject to obtaining security of tenure of Mycenae House. The GNGF (Greenwich Neighbourhood Growth Fund) Development fund is a restricted fund. The grant from RBG is allocated to expenditure to make Mycenae House fully accessible and as user friendly as is viably possible.
## **17. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31st March 2023.
Page 17
**VANBRUGH COMMUNITY ASSOCIATION**
## **Detailed Statement of Financial Activities for the Year Ended 31st March 2023**
|**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
Carried forward|2023
£
**3,272**
**3,818**
**7,090**
**124,136**
**1,340**
**3,190**
**128,666**
**1,616**
**269,681**
**15,000**
**5,100**
**11,884**
**-**
**-**
**301,665**
**439,037**
**54,486**
**32,179**
**86,665**
**211,456**
**16,594**
**4,445**
**3,108**
**1,826**
**31,016**
**2,676**
**4,441**
**7,773**
**283,335**|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
259,938|
This page does not form part of the statutory financial statements
Page 18
## **VANBRUGH COMMUNITY ASSOCIATION**
|**Charitable activities**
Brought forward
Sundries
Cleaning
Repairs & maintenance
Training
Events
Bank charges
Legal & professional fees
Accountancy
Project costs
Long leasehold
Depreciation
Total resources expended
**Net expenditure**|**Detailed Statement of Financial Activities**
**for the Year Ended 31st March 2023**|2023
£
**283,335**
**3,962**
**19,188**
**39,375**
**634**
**1,614**
**3,176**
**1,907**
**1,140**
**12,418**
**1,141**
**11,147**
**379,037**
**465,702**
**(26,665)**|2022
£
259,938
4,763
10,089
25,086
157
2,429
2,988
3,118
1,080
6,993
1,141
8,107
325,889
388,054
(5,131)|
|---|---|---|---|
|||||
This page does not form part of the statutory financial statements
Page 19