``` 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 2025 ``` ``` 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 2025`** |||**`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 2025`** ``` TheVCAtrustees,whoarethedirectorsofthecharityforthepurposesoftheCompaniesAct2006, present theirreportwiththefinancialstatementsofthecharityfortheyearended31stMarch2025.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`** ``` Thereare59groupswhoareaffiliatedtoorarePrivateMembersoftheVCATheactivitiesofthegroups fit largelywithinthecategoriesofHealth& Wellbeing,Arts and Cultureand Childrenand Education.Therange of activitiesprovidedincludesphysicalexercise,mentalhealth,visualarts,music,singing,nature and conservation,dance,seniorcitizenactivities,localhistory,scienceappreciation,judo,martialarts, weight control,actingandtheatreskills,languages,andhealing.Thehousealsoprovidesfacilitiesfora children's pre-schoolnurseryandcreativeeducation,hostsmeetings,trainingsessionsandconferencesfor professional organisations,providesclassroomfacilitiesforinternationalschoolsandspacefortheRBG&NHS Social Servicesfamilycontactsessions,counselling,andmentalhealthsupportservices,aswellasbeinga Polling StationinNationalandLocalElections.Therearetwocommunityorganisationswhichhaveofficesin the houseandtherearetwoartistsinresidence.Inaddition,theVCAorganisesitsownprogrammeof cultural events which include live music, theatre and visual arts, fairs, and talks. ``` ``` Ournowwell-establishedandimpactfulReachOutProjectworkstotackleandreducesocial isolation, inequality,andsupportsdiversityinourlocalcommunitythroughofferingwellbeing,socialactivities, support and access to services. ``` ``` TheVCAisalsoapartnerintheFriendsofMycenaeGardensandtheirannualParksfesteventand 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 acceptingbookingsandplanningactivitiesat theCentre,westrivetocomplywiththeVCA's mission, it's socialvaluecommitmentsandrequirementsinaccordancetheServiceLevelAgreementwiththe Royal BoroughofGreenwich,Section4oftheCharitiesAct2016andtheguidanceissuedbythe Charity 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 2025`** ## **`ACHIEVEMENT AND PERFORMANCE`** ## **`Achievement & performance`** ``` Theoperationalandfinancialyearof2024/25hascentredaroundaconsolidationandre-adjustmentto new social,economicandpoliticallandscapeandinthepostCovidworld..Itshasalsoweoneofresetting the strategicaimsandtheambitionsoftheorganisationtoreflectthenewpostCovidandCostof 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.` ``` OurReachOutProjectisatargetedprogrammetotacklesocialisolationandthevulnerable and disadvantagedamongstourcommunity.Thedemandfortheseserviceshasgrowndramaticallysince the Covidlockdown.Ourprogrammereliesonpartnershipworkingwithexternalspecialistswhichpresent a challenge as many partners are reducing their activity. ``` ``` We are actively seeking more financial support to meet the demand. ``` ``` TheCafébarhasremainedavibrantandresilientpartoftheorganisation,withincomeremaining strong despite major increases in costs from suppliers. We Increased our prices by as much as to 5% during this time. Ourownandpartnership-basedartsandculturalprogrammehascontinuedatareasonablelevelbut with slightlysmalleraudiencesoverthelast3year.Wehaveoperatedwithanacutelowerrisk-taking approach. Thenumberofpartnershasgotsmallerbutoverthelastfewmonthsthereisatrendforaudiencesreturning to events in larger numbers. ``` ``` Thestaffteamhaveremainedpositiveandcommittedduringthistimeandfacedheadonthe many challenges.Itisasourceofpridethatcollectivelyweprovideaverywarm,welcoming,and supporting environmentto all.Thestaffnumbershaveremainedconsistent,and wearepleasednotto havehad to make any staff redundant. ``` ``` Operationally,administratively,andpromotionallywehavemaintaineda'serviceasusual'atmosphere which has been warmly welcomed by others. All marketing and promotional activities have continued as normal. ``` ## **`Management and administration`** ``` Wehavemaintainedaneffectiveoperationwithregularboardmeetings,madequoratewiththehelp of Zoom'sonlineservicestohelpeveryoneattend.Thesupportforstaffandorganisationbytheboardhas been verywelcome.Theadministrativeandfinancialoperationshaveremainedfullyfunctionalwithclose attention beingpaidbystafftothefuturebookings,cashflowandfinancialmanagement.Ithasremainsdifficultto plan with any confidence for longer term operations, due to fluctuating and twitchy external circumstances. ``` ## **`Maintenance, repairs and improvements`** ``` Wecontinuedtomaintaintheinfrastructureandfabricoftheinsideofthecentreasrequiredbyour Tenancy atWillcontractwithRBG.TheoutsideofthebuildingistheresponsibilityofRBGwhohavelimitedresources to maintainit.We fromtimetotimetoundertakemaintenanceontheoutsideofthebuilding,forexample repair to sash windows and external fire escape which present major health and safety threats to users and visitors. ``` ## **`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: ``` ``` - the loss/reduction of core funding from the Royal Borough of Greenwich and ``` ``` - a reduction in Centre usage resulting in loss of income. ``` ``` -theSantanderaccountiscurrentlylockedduetothedepositmandatebeinginoperableafterall original signators being ill or deceased. Currently the manager is actively working with Santander to resolve the issue. Inaddition,wecontinuetoholdaCapitalWorksReserveFundtocovertheanticipatedcostoffuture major improvements,wewillseektoundertaketoMycenae.Themaincomponentofthisprogrammewillbe the installationofapassengerlifttoprovideeasyaccesstoallfloorsofthebuildingforallourusers,visitors, and staff. ``` ``` Page 2 ``` ``` VANBRUGH COMMUNITY ASSOCIATION ``` ## **`Report of the Trustees`** ## **`for the Year Ended 31st March 2025`** ## **`FINANCIAL REVIEW`** ## **`Investment policy and objectives`** ``` TheTrusteescontinuetotaketheviewthatbankdeposits,savingsbondsandbuildingsociety savings accountsbestmeettheneedforsecuringsomereturnonourfinancialreservesforaminimumofrisk.In these uncertaintimestheincomefrominvestmentsandinteresthasreducedtobeinglargelynegligibleand this strategy is under constant review. ``` ## **`Overall position`** ``` Theorganisationexperiencedanothernon-typicalfinancialyear,largelybecauseofthe continued challengesofcurrentsocial,politicalandfinancialenvironmentpostCovid,thecostoflivingcrisisand their associated financial effects. ``` ``` The business turnover increased from £459,736 in 2023/24 to £489,790 in 2024/25. ``` ``` The costs of delivering services increased from £467,785 in the previous fiscal year to £496,126 in 2024/25. Room and Hall hire increased from £277,211 to £297,525. ``` ``` The income from Café/Bar sales increased from £142,136 to £148,696. ``` ``` Thebalancebetweenourincomeandexpenditurefor2024/25wasadeficitof£7,423.Thissadlyincludes a £4,706 write off for a bad debt from a user group which no longer uses our facilities. ``` ``` This represents a loss, but an improvement from 2023/24 which was a deficit of £8,049. ``` ``` Our General reserve stands at a total of £157,053. ``` ``` Whilstthisisadisappointingoutcomeforanynormalyearlyoperation,wefeelitisaresultof continued externalcircumstances,andwhicharemodestunderthecircumstances.Ouraimistoreturnthe organisation back to full viability by next year and we feel this is achievable. ``` ## **`Principal sources of income`** ``` TheVCAreceivescorefundingfromtheRoyalBoroughofGreenwichandoccupiesMycenae House Community Centre, rent free under a Tenancy at Will lease from them. ``` ``` Furtherincomeisproducedfromroomrentaltousergroups,commercialhirersandfromprivate functions suchasweddingsandbirthdayparties.Incomeisalsoproducedfromsalesinthecafébarfacilities. In-kind funding is welcomed and is received from various sources. ``` ``` Theorganisationappliesforprojectfundingfromvarioussourcesonaproject-by-projectbasisfrom Trusts, Foundations, Government sources and through general fundraising. ``` ## **`FUTURE PLANS`** ``` For the future our plans include: - ``` ``` -ToplanforRecovery,ResilienceandSustainabilityinanewenvironmentwhichwebelievewillprevail for several years yet. ``` ``` -Weaimtobeabletodrawupanambitious,fullblownbusinessplanscoveringthe2025-2028period. Until the board are confident to do so we will generate plans on a year-by-year basis. ``` ``` -WewilldevelopandstrengthenourworkintheareasofSocialIsolation&EqualityforVulnerable 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. ``` ``` -Undertakingmoredirectfundraising,particularlywithtrustsandfoundations,tosupportourprogramme and our building development objectives. ``` ``` - We aim to better support our staff through training and role development. ``` ``` -Weaimtodelivertheinstallationofthelong-neededliftgiventhegenerousfinancialsupportfrom the Greenwich Neighbourhood Growth Fund (GNGF). ``` ``` -WewillcontinueournegotiationswithRoyalBoroughofGreenwichforalongleasefortheMycenae House building which will give us security. ``` ``` -We willconsolidatethegreatworkandsupportofthetrusteestheyhaveprovidedthestaffand organisation through difficult times. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` VanbrughCommunityAssociation(VCA)isacharitablecompanylimitedbyguaranteewhich was incorporatedon29thJanuary2001.VCAwasoriginallyregisteredasacharityon29thNovember1994 and wasre-registered,afteritsincorporation,on12thMarch2001.TheincorporatedVCA wasestablishedunder a MemorandumandArticlesofAssociationwhichsetitsobjectsandpowersandisgovernedunderitsArticles of Association.IntheeventofVCAbeingwoundupmembersarerequiredtocontributeanamount not exceeding £1. ``` ``` Page 3 ``` ``` VANBRUGH COMMUNITY ASSOCIATION ``` ## **`Report of the Trustees`** ## **`for the Year Ended 31st March 2025`** ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Recruitment and appointment of Management Committee`** ``` OurBoardofTrusteesconsistsofnotmorethan12memberswhoareelectedattheAnnualGeneral Meeting fromnominationssubmittedbytheMembersoftheVCA. IftherearevacanciesontheBoard,members can beco-optedatanytimeduringtheyearbutmustretireatthenextAnnualGeneralMeeting.In accordance with the requirements of the ``` ``` MemorandumandArticlesofAssociation,one-thirdoftheelectedmembersoftheBoardretireat every AnnualGeneralMeeting.Thememberswhoretirearethosewhohavebeenlongestinofficesincetheir last election.Inaddition,ateveryAnnualGeneralMeeting,allco-optedmembersoftheBoardmustretire. 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`** ``` TheBoardmeetseverytwomonthsonthethirdTuesdayofthemonthandisresponsiblefordeciding the strategicdirectionandpolicyoftheVCA.TheExecutiveDirectorisresponsibleforthedaytodayrunning of MycenaeHouseandtheimplementationofBoarddecisions.Eachmonththetreasurerandexecutive director meet to discuss the financial results and any other finance related issues. ``` ## **`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 R Whitehouse - Treasurer P Dixon R Allen H Sanghara R Patenall J Thomas L Durrant M Spence M Willtshire (appointed 12.11.24) M Aldridge (appointed 12.11.24) M Brown (co-opted) ``` ## **`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 2025`** ## **`REFERENCE AND ADMINISTRATIVE DETAILS 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. ``` ## **`Executive Director`** ``` Mark Johnson-Brown ``` ## **`Website`** ``` www.mycenaehouse.co.uk ``` ``` TheTrusteesandExecutiveDirectorrecognisetheimportanceandbrillianceoftheworkofthestaffto make MycenaeHousethrive.Theirexceptionalcommitment,hardwork,flexibility,and diligencethroughoutthe year tosupportandhelpMycenaeHousetosurvivethesignificantchallengesthrownatit.Alsoahugethanks to the communities of the area who's support and belief in our work provides daily inspiration to the team. ThetrusteeswouldalsoliketothanktheRoyalBoroughofGreenwichfortheirsupportandtootherpartners for their extraordinary support during this time. ``` ``` Approved by order of the Board of Trustees on 11th September 2025 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')`** ``` IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended 31st March 2025. ``` ## **`Responsibilities and basis of report`** ``` Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act 2006 ('the 2006 Act'). ``` ``` HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16of the 2006Act andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyour charity's accountsascarriedoutunderSection145oftheCharitiesAct2011('the2011Act').Incarryingout my examinationIhavefollowedtheDirectionsgivenbytheCharityCommissionunderSection145(5)(b)of the 2011 Act. ``` ## **`Independent examiner's statement`** ``` Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbea memberofa listedbody.I can confirmthatIamqualifiedtoundertaketheexaminationbecauseIamamemberoftheAssociation of Chartered Certified Accountants, which is one of the listed bodies. ``` ``` Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnection 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)).` ``` Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be reached. ``` ``` I M Walker FCCA ``` ``` MastersFuller 38 Salisbury Road Worthing West Sussex BN11 1RD ``` ``` 11th September 2025 ``` ``` Page 6 ``` ``` VANBRUGH COMMUNITY ASSOCIATION ``` ## **`Statement of Financial Activities`** ## **`(Incorporating an Income and Expenditure Account) for the Year Ended 31st March 2025`** |`Unrestricted`
`funds`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
**`8,552`**
**`Charitable activities`**
`5`
`Hall & room rental`
**`297,525`**
`Grants`
**`18,257`**
`Other trading activities`
`3`
**`160,457`**
`Investment income`
`4`
**`8,618`**
**`Total`**
**`493,409`**
**`EXPENDITURE ON`**
`Raising funds`
`6`
**`149,069`**
**`Charitable activities`**
`Licenced bar`
**`-`**
`Centre running expenses`
**`351,763`**
**`Total`**
**`500,832`**
**`NET INCOME/(EXPENDITURE)`**
**`(7,423)`**
**`Transfers between funds`**
`15`
**`488`**
**`Net movement in funds`**
**`(6,935)`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`322,724`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`315,789`**|`Restricted`
`funds`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`(488)`**
**`(488)`**
**`202,160`**
**`201,672`**|**`2025`**
**`Total`**
**`funds`**
**`£`**
**`8,552`**
**`297,525`**
**`18,257`**
**`160,457`**
**`8,618`**
**`493,409`**
**`149,069`**
**`-`**
**`351,763`**
**`500,832`**
**`(7,423)`**
**`-`**
**`(7,423)`**
**`524,884`**
**`517,461`**|`2024`
`Total`
`funds`
`£`
`10,622`
`277,211`
`14,627`
`149,354`
`7,922`
`459,736`
`129,354`
`(28,577)`
`367,008`
`467,785`
`(8,049)`
`-`
`(8,049)`
`532,933`
`524,884`| |---|---|---|---| ``` The notes form part of these financial statements ``` ``` Page 7 ``` ``` VANBRUGH COMMUNITY ASSOCIATION ``` ## **`Balance Sheet`** ## **`31st March 2025`** |`Unrestricted`
`funds`
`Notes`
`£`
**`FIXED ASSETS`**
`Tangible assets`
`10`
**`51,732`**
**`CURRENT ASSETS`**
`Stocks`
`11`
**`5,317`**
`Debtors`
`12`
**`18,950`**
`Investments`
`13`
**`53,134`**
`Cash at bank and in hand`
**`206,567`**
**`283,968`**
**`CREDITORS`**
`Amounts falling due within one year`
`14`
**`(19,911)`**
**`NET CURRENT ASSETS`**
**`264,057`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`315,789`**
**`NET ASSETS`**
**`315,789`**
**`FUNDS`**
`15`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`Restricted`
`funds`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`201,672`**
**`201,672`**
**`-`**
**`201,672`**
**`201,672`**
**`201,672`**|**`2025`**
**`Total`**
**`funds`**
**`£`**
**`51,732`**
**`5,317`**
**`18,950`**
**`53,134`**
**`408,239`**
**`485,640`**
**`(19,911)`**
**`465,729`**
**`517,461`**
**`517,461`**
**`315,789`**
**`201,672`**
**`517,461`**|`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`| |---|---|---|---| ``` ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006 for the year ended 31st March 2025. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended 31st March 2025 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.` ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable companies subject to the small companies regime. ``` ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on 11th September 2025 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 2025`** |`Notes`
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`Net cash provided by/(used in) operating activities`
**`Cash flows from investing activities`**
`Purchase of tangible fixed assets`
`Interest received`
`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`**|**`2025`**
**`£`**
**`5,207`**
**`5,207`**
**`(11,908)`**
**`8,618`**
**`(3,290)`**
**`1,917`**
**`406,322`**
**`408,239`**|`2024`
`£`
`(2,161)`
`(2,161)`
`(21,700)`
`7,922`
`(13,778)`
`(15,939)`
`422,261`
`406,322`| |---|---|---| ``` 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 2025`** ## **`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`
`(Increase)/decrease in stocks`
`Decrease in debtors`
`Decrease in creditors`
**`Net cash provided by/(used in) operations`**|**`2025`**
`2024`
**`£`**
`£`
**`(7,423)`**
`(8,049)`
**`15,518`**
`13,381`
**`(8,618)`**
`(7,922)`
**`(1,529)`**
`1,000`
**`8,152`**
`2,811`
**`(893)`**
`(3,382)`
**`5,207`**
`(2,161)`| |---|---| ## **`2.`** ## **`ANALYSIS OF CHANGES IN NET FUNDS`** ||`At 1.4.24`|`Cash flow`|**`At 31.3.25`**| |---|---|---|---| ||`£`|`£`|**`£`**| |**`Net cash`**|||| |`Cash at bank and in hand`|**`406,322`**|**`1,917`**|**`408,239`**| |`Less: Deposits treated as`|||| |`liquid resources`|**`(85,460)`**|**`-`**|**`(85,460)`**| ||**`320,862`**|**`1,917`**|**`322,779`**| |**`Liquid resources`**|||| |`Deposits included in cash`|**`85,460`**|**`-`**|**`85,460`**| |`Current asset investments`|**`53,134`**|**`-`**|**`53,134`**| ||**`138,594`**|**`-`**|**`138,594`**| |**`Total`**|**`459,456`**|**`1,917`**|**`461,373`**| ``` The notes form part of these financial statements ``` ``` Page 10 ``` ``` VANBRUGH COMMUNITY ASSOCIATION ``` ## **`Notes to the Financial Statements`** ## **`for the Year Ended 31st March 2025`** ## **`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`** ``` All incomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementto the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` 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 Long leasehold - 5% 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. ``` ``` continued... ``` ``` Page 11 ``` ``` VANBRUGH COMMUNITY ASSOCIATION ``` |**`Notes to the Financial Statements- continued`**
**`for the Year Ended 31st March 2025`**
**`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`
`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`|**`2025`**
**`£`**
**`3,797`**
**`4,755`**
**`8,552`**
**`2025`**
**`£`**
**`148,696`**
**`7,406`**
**`4,355`**
**`160,457`**
**`2025`**
**`£`**
**`8,618`**
**`2025`**
**`£`**
**`297,525`**
**`11,650`**
**`6,607`**
**`315,782`**
**`2025`**
**`£`**
**`11,650`**
**`2025`**
**`£`**
**`69,744`**
**`79,325`**
**`149,069`**|`2024`
`£`
`3,797`
`6,825`
`10,622`
`2024`
`£`
`142,136`
`3,093`
`4,125`|`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`
`63,746`| |||`129,354`|| ``` continued... ``` ``` Page 12 ``` ``` VANBRUGH COMMUNITY ASSOCIATION ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31st March 2025`** ## **`7. NET INCOME/(EXPENDITURE)`** ``` Net income/(expenditure) is stated after charging/(crediting): ``` ||**`2025`**|`2024`| |---|---|---| ||**`£`**|`£`| |`Depreciation - owned assets`|**`15,518`**|`13,381`| ## **`8. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31stMarch2025norfor the year ended 31st March 2024. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31stMarch2025norfortheyear ended 31st March 2024. ``` ## **`9. STAFF COSTS`** |`Wages and salaries`
`Social security costs`
`Other pension costs`|**`2025`**
`2024`
**`£`**
`£`
**`293,875`**
`250,320`
**`17,178`**
`15,480`
**`5,336`**
`4,634`
**`316,389`**
`270,434`| |---|---| ``` The average monthly number of employees during the year was as follows: ``` |`Bar staff`
`House supervisors`
`Administration`
`Project manager`|**`2025`**
`2024`
**`5`**
`3`
**`5`**
`4`
**`4`**
`4`
**`1`**
`1`
**`15`**
`12`| |---|---| ``` 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 2025`** ## **`10. TANGIBLE FIXED ASSETS`** |**`COST`**
`At 1st April 2024`
`Additions`
`At 31st March 2025`
**`DEPRECIATION`**
`At 1st April 2024`
`Charge for year`
`At 31st March 2025`
**`NET BOOK VALUE`**
`At 31st March 2025`
`At 31st March 2024`
**`11.`**
**`STOCKS`**
`Stocks`
**`12.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade debtors`
`Prepayments`
**`13.`**
**`CURRENT ASSET INVESTMENTS`**
`Fixed term bonds`|`Long`
`leasehold`
`&`
`£`
**`30,590`**
**`488`**
**`31,078`**
**`3,423`**
**`-`**
**`3,423`**
**`27,655`**
`27,167`|`Fixtures,`
`fittings`
`equipment`
`£`
**`167,945`**
**`11,420`**
**`179,365`**
**`139,770`**
**`15,518`**
**`155,288`**
**`24,077`**
`28,175`
**`2025`**
**`£`**
**`5,317`**
**`2025`**
**`£`**
**`18,844`**
**`106`**
**`18,950`**
**`2025`**
**`£`**
**`53,134`**|`Totals`
`£`
**`198,535`**
**`11,908`**|`Totals`
`£`
**`198,535`**
**`11,908`**|`Totals`
`£`
**`198,535`**
**`11,908`**| |---|---|---|---|---|---| ||||**`210,443`**||| ||||**`143,193`**
**`15,518`**||| ||||**`158,711`**||| |||||**`51,732`**|| |||||`55,342`|| |||||`2024`
`£`
`3,788`
`2024`
`£`
`27,057`
`45`|`2024`
`£`
`3,788`| |||||`27,102`|| |||||`2024`
`£`
`53,134`|| ``` continued... ``` ``` Page 14 ``` ``` VANBRUGH COMMUNITY ASSOCIATION ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31st March 2025`** ## **`14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |`Trade creditors`
`VAT`
`Accrued expenses`
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
`Capital Works Reserve fund`
**`Restricted funds`**
`GNGF Development fund`
**`TOTAL FUNDS`**|`Net`
`movement`
`At 1.4.24`
`in funds`
`£`
`£`
**`163,988`**
**`(7,423)`**
**`158,736`**
**`-`**
**`322,724`**
**`(7,423)`**
**`202,160`**
**`-`**
**`524,884`**
**`(7,423)`**|**`2025`**
**`£`**
**`6,105`**
**`2,444`**
**`11,362`**
**`19,911`**
`Transfers`
`between`
`funds`
`£`
**`488`**
**`-`**
**`488`**
**`(488)`**
**`-`**|`2024`
`£`
`5,664`
`1,989`
`13,151`
`20,804`
`At`
`31.3.25`
`£`
**`157,053`**
**`158,736`**|`2024`
`£`
`5,664`
`1,989`
`13,151`| |---|---|---|---|---| |||||`20,804`| ||||**`315,789`**
**`201,672`**|| ||||**`517,461`**|| ## **`15. MOVEMENT IN FUNDS`** ``` Net movement in funds, included in the above are as follows: ``` |**`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`**|`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
**`493,409`**
**`(500,832)`**
**`(7,423)`**
**`493,409`**
**`(500,832)`**
**`(7,423)`**
`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`| |---|---| ``` continued... ``` ``` Page 15 ``` ``` VANBRUGH COMMUNITY ASSOCIATION ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31st March 2025`** ## **`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`
`£`
`£`
`£`
`459,736`
`(467,785)`
`(8,049)`
`459,736`
`(467,785)`
`(8,049)`| |---|---| ``` TheCapitalWorksReservefundisadesignatedfundandhasbeensetasidefortheinstallationof a passengerliftandtherefurbishmentofthebarsandkitchen,subjecttoobtainingsecurityoftenure of Mycenae House. ``` ``` TheGNGF(GreenwichNeighbourhoodGrowthFund)Developmentfundisarestrictedfund.The grant fromRBGisallocatedtoexpendituretomakeMycenaeHousefullyaccessibleandasuserfriendlyas is viably possible. ``` ## **`16. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the year ended 31st March 2025. ``` ``` Page 16 ``` ``` VANBRUGH COMMUNITY ASSOCIATION ``` ## **`Detailed Statement of Financial Activities`** ## **`for the Year Ended 31st March 2025`** |**`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`
`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`
`Legal & professional fees`
`Carried forward`|`2025`
`£`
**`3,797`**
**`4,755`**
**`8,552`**
**`148,696`**
**`7,406`**
**`4,355`**
**`160,457`**
**`8,618`**
**`297,525`**
**`11,650`**
**`6,607`**
**`315,782`**
**`493,409`**
**`69,744`**
**`79,325`**
**`149,069`**
**`214,550`**
**`17,178`**
**`5,336`**
**`4,087`**
**`1,758`**
**`19,598`**
**`3,073`**
**`5,546`**
**`8,924`**
**`6,692`**
**`9,627`**
**`15,501`**
**`1,113`**
**`8,602`**
**`3,553`**
**`214`**
**`325,352`**|`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`
`63,746`| |||`129,354`
`186,574`
`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`
`205`
`318,044`| ``` This page does not form part of the statutory financial statements ``` ``` Page 17 ``` ``` VANBRUGH COMMUNITY ASSOCIATION ``` |**`Charitable activities`**
`Brought forward`
`Accountancy`
`Bad debts written off`
`Project costs`
`Long leasehold`
`Depreciation`
`Total resources expended`
**`Net expenditure`**|**`Detailed Statement of Financial Activities`**
**`for the Year Ended 31st March 2025`**|`2025`
`£`
**`325,352`**
**`1,270`**
**`4,706`**
**`4,917`**
**`1,141`**
**`14,377`**
**`351,763`**
**`500,832`**
**`(7,423)`**|`2024`
`£`
`318,044`
`1,220`
`-`
`5,786`
`1,141`
`12,240`
`338,431`
`467,785`
`(8,049)`| |---|---|---|---| ||||| ``` This page does not form part of the statutory financial statements ``` ``` Page 18 ```