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2024-03-31-accounts

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 2024

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 2024

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

VANBRUGH COMMUNITY ASSOCIATION

Report of the Trustees for the Year Ended 31st March 2024

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 2024. 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

Affiliated to the VCA are 31 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 now well-established and impactful Reach Out Project works to tackle and reduce social isolation, inequality, and supports diversity in our local community through offering wellbeing, social activities, support and access to services.

The VCA is also a partner in the Friends of Mycenae Gardens and their annual Parksfest event 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:

Page 1

VANBRUGH COMMUNITY ASSOCIATION

Report of the Trustees for the Year Ended 31st March 2024

ACHIEVEMENT AND PERFORMANCE

Achievement & performance

The operational and financial year of 2023/24 has been a story of slow build and continued recovery. Its has also we one of resetting the strategic aims and the ambitions of the organisation to reflect the new post Covid and Cost of Living challenges.

.

The key factors affecting the year are: -

  1. Continued recovering from the effects of the Covid and Cost of Living Crises

  2. Rebuilding the customer base and community confidence

  3. Reacting to and rebuilding a smaller customer and income base

  4. Adapting to the massive cost of Utilities (Gas Electric. & Water) and increase in the cost of goods.

  5. We still have a viable business with strong demand from the community/public.

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 a vibrant and resilient part of the organisation, with income remaining strong despite major increases in costs from suppliers. We Increased our prices by as much as to 5% 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 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 positive and committed during this time and faced head on 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, and we are pleased not to have had to make any staff redundant.

Operationally, administratively, and promotionally we have maintained a 'service as usual' atmosphere which has been warmly welcomed by others. All marketing and promotional activities have continued as normal.

Management and administration

We have maintained an effective operation with regular board meetings, made quorate with the help of Zoom's 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 remains difficult to plan with any confidence for longer term operations, due to fluctuating and twitchy 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 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:

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. 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 2024

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 constant review.

Overall position

The organisation experienced another non-typical financial year, largely as a result of the continued challenges of post Covid, the Cost of Living Crisis and associated financial effects. However, the business turnover increased from £439,037 in 2022/23 to £459,736 in 2023/24.

The costs of delivering services increased from £465,702 in the previous fiscal year to £467,785.

The balance of our income and expenditure was £(26,665) in 2023, down to £(8,049) in 2024.

Whilst this is a disappointing outcome for any normal yearly operation, we feel it is a result of continued external circumstances and which are modest under the circumstances.

Room and Hall hire increased from £269,681 to £277,211.

The income from Café/Bar sales increased from £124,136 to £142,136.

Our General reserve stands at a total of £322,724.

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.

FUTURE PLANS

For the future our plans include: - - To plan for Recovery, Resilience and Sustainability in a new environment which we believe will prevail for several years yet.

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 2024

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 Executive Director is responsible for the day to day running of Mycenae House and the implementation of Board decisions. Each month the treasurer and executive director meet to discuss the financial results and any other finance related issues.

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 R Whitehouse - Treasurer (appointed 16.1.24) P Dixon R Allen H Sanghara R Patenall J Thomas L Durrant M Spence S Whyatt - Treasurer (resigned 21.11.23)

Independent Examiner

MastersFuller Chartered Certified Accountants 38 Salisbury Road Worthing West Sussex BN11 1RD

Bankers

Barclays Bank plc. The physical branch service which previously provided at Westcombe Park, is now closed. Business Banking is available online at www.barclays.co.uk and via telephone banking.

Page 4

VANBRUGH COMMUNITY ASSOCIATION

Report of the Trustees for the Year Ended 31st March 2024

REFERENCE AND ADMINISTRATIVE DETAILS 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. Also a huge thanks to the communities of the area who's support and belief in our work provides daily inspiration to the team. 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 particular thanks to Sara Whyatt who has resigned from the board this year after providing sterling support over the last 7 years, to the Chair and all other trustees for their unwavering support shown to him and the team during the last year.

Approved by order of the Board of Trustees on 25th September 2024 and signed on its behalf by:

J Stephenson - 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 2024.

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 Association of Chartered Certified Accountants, 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 2024

Page 6

VANBRUGH COMMUNITY ASSOCIATION

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31st March 2024

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
10,622
Charitable activities
5
Hall & room rental
277,211
Grants
14,627
Other trading activities
3
149,354
Investment income
4
7,922
Total
459,736
EXPENDITURE ON
Raising funds
6
100,777
Charitable activities
Centre running expenses
367,008
Total
467,785
NET INCOME/(EXPENDITURE)
(8,049)
Transfers between funds
15
7,770
Net movement in funds
(279)
RECONCILIATION OF FUNDS
Total funds brought forward
323,003
TOTAL FUNDS CARRIED FORWARD
322,724		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
(7,770)
(7,770)
209,930
202,160		 2024
Total
funds
£
10,622
277,211
14,627
149,354
7,922
459,736
100,777
367,008
467,785
(8,049)
-
(8,049)
532,933
524,884		 2023
Total
funds
£
7,090
269,681
31,984
128,666
1,616
439,037
86,665
379,037
465,702
(26,665)
-
(26,665)
559,598
532,933

The notes form part of these financial statements

Page 7

VANBRUGH COMMUNITY ASSOCIATION

Balance Sheet

31st March 2024

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
10
55,342
CURRENT ASSETS
Stocks
11
3,788
Debtors
12
27,102
Investments
13
53,134
Cash at bank and in hand
204,162
288,186
CREDITORS
Amounts falling due within one year
14
(20,804)
NET CURRENT ASSETS
267,382
TOTAL ASSETS LESS CURRENT LIABILITIES
322,724
NET ASSETS
322,724
FUNDS
15
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
202,160
202,160
-
202,160
202,160
202,160		 2024
Total
funds
£
55,342
3,788
27,102
53,134
406,322
490,346
(20,804)
469,542
524,884
524,884
322,724
202,160
524,884		 2023
Total
funds
£
47,023
4,788
29,913
53,134
422,261
510,096
(24,186)
485,910
532,933
532,933
323,003
209,930
532,933

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

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 2024 and were signed on its behalf by:

R Whitehouse - Trustee

The notes form part of these financial statements

Page 8

VANBRUGH COMMUNITY ASSOCIATION

Cash Flow Statement
for the Year Ended 31st March 2024
2024
Notes
£
Cash flows from operating activities
Cash generated from operations
1
(2,161)
Net cash used in operating activities
(2,161)
Cash flows from investing activities
Purchase of tangible fixed assets
(21,700)
Interest received
7,922
Net cash used in investing activities
(13,778)
Change in cash and cash equivalents in
the reporting period
(15,939)
Cash and cash equivalents at the
beginning of the reporting period
422,261
Cash and cash equivalents at the end of
the reporting period
406,322		 2023
£
(32,661)
(32,661)
(15,173)
1,616
(13,557)
(46,218)
468,479
422,261

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 2024

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Decrease in creditors
Net cash used in operations		 2024
2023
£
£
(8,049)
(26,665)
13,381
12,288
(7,922)
(1,616)
1,000
(880)
2,811
(9,141)
(3,382)
(6,647)
(2,161)
(32,661)

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash At 1.4.23
Cash flow
At 31.3.24
£
£
£
Cash at bank and in hand 422,261
(15,939)
406,322
Less: Deposits treated as
liquid resources (83,147)
(2,313)
(85,460)
339,114
(18,252)
320,862
Liquid resources
Deposits included in cash 83,147
2,313
85,460
Current asset investments 53,134
-
53,134
136,281
2,313
138,594
Total 475,395
(15,939)
459,456

The notes form part of these financial statements

Page 10

VANBRUGH COMMUNITY ASSOCIATION

Notes to the Financial Statements

for the Year Ended 31st March 2024

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 Long leasehold - 5% 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 11

VANBRUGH COMMUNITY ASSOCIATION

Notes to the Financial Statements - continued

for the Year Ended 31st March 2024

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
Grants received, included in the above, are as follows:
Service level agreement
6.
RAISING FUNDS
Other trading activities
Purchases
Staff costs		 2024
£
3,797
6,825
10,622
2024
£
142,136
3,093
4,125
149,354
2024
£
7,922
2024
£
277,211
10,482
-
4,145
291,838
2024
£
10,482
2024
£
65,608
35,169
100,777		 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
2023
£
54,486
32,179
86,665

continued...

Page 12

VANBRUGH COMMUNITY ASSOCIATION

Notes to the Financial Statements - continued for the Year Ended 31st March 2024

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£ £
Depreciation - owned assets 13,381 12,288

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023.

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2024
£
250,320
15,480
4,634
270,434		 2023
£
243,635
16,594
4,445
264,674

The average monthly number of employees during the year was as follows:

Bar staff
House supervisors
Administration
Project manager		 2024
3
4
4
1
12		 2023
4
4
4
1
13

No employees received emoluments in excess of £60,000.

continued...

Page 13

VANBRUGH COMMUNITY ASSOCIATION

Notes to the Financial Statements - continued

for the Year Ended 31st March 2024

10. TANGIBLE FIXED ASSETS

COST
At 1st April 2023
Additions
At 31st March 2024
DEPRECIATION
At 1st April 2023
Charge for year
At 31st March 2024
NET BOOK VALUE
At 31st March 2024
At 31st March 2023
11.
STOCKS
Stocks
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
VAT
Prepayments
13.
CURRENT ASSET INVESTMENTS
Fixed term bonds		 Long
leasehold
£
22,820
7,770
30,590
2,282
1,141
3,423
27,167
20,538		 Fixtures,
fittings
& equipment
£
154,015
13,930
167,945
127,530
12,240
139,770
28,175
26,485
2024
£
3,788
2024
£
27,057
-
45
27,102
2024
£
53,134		 Totals
£
176,835
21,700
198,535
129,812
13,381
143,193
55,342
47,023
2023
£
4,788
2023
£
28,769
504
640
29,913
2023
£
53,134

continued...

Page 14

VANBRUGH COMMUNITY ASSOCIATION

Notes to the Financial Statements - continued for the Year Ended 31st March 2024

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
VAT
Accrued expenses
15.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Capital Works Reserve fund
Restricted funds
GNGF Development fund
TOTAL FUNDS
Net movement in funds, included in the above
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Capital Works Reserve fund
Restricted funds
GNGF Development fund
TOTAL FUNDS		 2024
2023
£
£
5,664
10,162
1,989
-
13,151
14,024
20,804
24,186
Net
Transfers
movement
between
At
At 1.4.23
in funds
funds
31.3.24
£
£
£
£
164,267
(8,049)
7,770
163,988
158,736
-
-
158,736
323,003
(8,049)
7,770
322,724
209,930
-
(7,770)
202,160
532,933
(8,049)
-
524,884
are as follows:
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
459,736
(467,785)
(8,049)
459,736
(467,785)
(8,049)
Net
movement
At
At 1.4.22
in funds
31.3.23
£
£
£
190,932
(26,665)
164,267
158,736
-
158,736
349,668
(26,665)
323,003
209,930
-
209,930
559,598
(26,665)
532,933

continued...

Page 15

VANBRUGH COMMUNITY ASSOCIATION

Notes to the Financial Statements - continued for the Year Ended 31st March 2024

15. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
439,037
(465,702)
(26,665)
439,037
(465,702)
(26,665)

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.

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st March 2024.

Page 16

VANBRUGH COMMUNITY ASSOCIATION

Detailed Statement of Financial Activities for the Year Ended 31st March 2024

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
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
Events
Bank charges
Carried forward		 2024
£
3,797
6,825
10,622
142,136
3,093
4,125
149,354
7,922
277,211
10,482
-
4,145
291,838
459,736
65,608
35,169
100,777
215,151
15,480
4,634
2,799
1,751
23,426
2,871
6,621
7,565
4,289
19,988
32,717
-
5,622
3,502
346,416		 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
3,962
19,188
39,375
634
1,614
3,176
351,284

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 2024

Charitable activities
Brought forward
Legal & professional fees
Accountancy
Project costs
Long leasehold
Depreciation
Total resources expended
Net expenditure		 2024
£
346,416
205
1,220
5,786
1,141
12,240
367,008
467,785
(8,049)		 2023
£
351,284
1,907
1,140
12,418
1,141
11,147
379,037
465,702
(26,665)

This page does not form part of the statutory financial statements

Page 18