The Streetly Association Limited by Guarantee
Annual report and financial statements for the year ended 30th September 2020
Contents
Page 2 Report of the directors 4 Report of the accountants 5 Profit and loss account 6 Balance sheet 7 Notes forming part of the financial statements 10 Accounting statement
For the directors only
| 11 | Income and expenditure account | Income and expenditure account | |
|---|---|---|---|
| 12 | Administrative | expenses | |
| Directors | S L Beesley | V Patel | |
| C Boswell | J M Rose | ||
| J E Gray | B E Sandbrook (Vice Chairman) | ||
| D J Hampton (Chairman) | S Turner | ||
| R H Hughes | I R Willis | ||
| M C Mason | |||
| Registered | office | Foley Road East | |
| Streetly | |||
| Sutton Coldfield | |||
| B74 3HR | |||
| Registered | number | 4241941 | |
| Accountants | Paul Anthony Wilcox Accountants | Limited | |
| Chartered Certified Accountant | |||
| The Barn Common Farm | |||
| Luton Road | |||
| Chalton | |||
| LU4 9UH |
Page 1
The Streetly Association Limited by Guarantee
Report of the directors
The directors present their report and the financial statements for the year ended 30th September 2020.
Principal activity
The company's principal activity is to promote the benefit of the inhabitants of Walsall Metropolitan Borough and, in particular Streetly, in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants.
To establish or secure the establishment of a Centre and to maintain and manage or to co-operate with any statutory authority in the maintenance and management of such a Centre for activities promoted in the furtherance of the above objectives.
Shares
The company is limited by guarantee of its members and does not have a share capital.
Accountants
The accountants, Paul Anthony Wilcox, will be proposed for reappointment in accordance with the Companies Act 2006.
Small company rules
These financial statements have been prepared in accordance with the special provisions of the Companies Act 2006 relating to small companies and in accordance with the Financial
Page 2
The Streetly Association Limited by Guarantee
Report of the directors (continued)
Statement of directors' responsibilities
Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing those financial statements, the directors are required to :
select suitable accounting policies and then apply them consistently ; make judgements and estimates that are reasonable and prudent ; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the board on 16th November 2020 and signed by order of the board.
..................................
B E Sandbrook Director
Page 3
The Streetly Association Limited by Guarantee
Report of the accountants to the members of The Streetly Association
Registered Charity Number : 1089675
We have prepared the financial statements on pages 5 to 10 which have been prepared in accordance with the Financial Reporting Standard for Smaller Entities, under the historical cost convention and the accounting policies set out on page 7.
Respective responsibilities of trustees and accountants
As the charity's trustees you are responsible for the preparation of the financial statements; you consider that the audit requirement of S43(2) of the Charities Act 1993 does not apply. It is my responsibilty to state, on the basis of procedures specified in the general directions given by the Charity Commissioners under S43(7)b of the Act, whether particular matters have come to my attention.
Basis of report
My examination was carried out in accordance with the general directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required by an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiners statement
In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect the requirements:
1) to keep accounting records in accordance with S41 of the Act: and
2) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act; have not been met.
Paul Anthony Wilcox Accountants Limited Chartered Certified Accountants The Barn Common Farm Luton Road Chalton LU4 9UH
16th November 2020
Page 4
The Streetly Association Limited by Guarantee
Income and expenditure account for the year ended 30th September 2020
| Note Turnover 1,2 Cost of sales Gross surplus Administrative expenses Operating defecit 3 Other income Surplus on ordinary activities before taxation Taxation 4 Surplus on ordinary activities after taxation 9 |
2020 2019 £ £ 127,894 243,991 - - 127,894 243,991 171,284 246,228 43,390 - 2,237 - 53,196 17,130 9,806 14,893 - - 9,806 14,893 |
|---|---|
The notes on pages 7 to 9 form part of these financial statements.
Page 5
The Streetly Association Limited by Guarantee
Balance sheet as at 30th September 2020
| Notes Fixed assets Tangible assets (restricted fund) 5 Current assets Debtors 6 Stock Cash at bank and in hand (main account) Cash at bank and in hand (D of E) Cash at bank and in hand (lunch club) Creditors :amounts falling due within one year 7 Net current assets Total assets less current liabilities Capital and reserves Revenue account 9 Shareholders' funds |
2020 2019 £ £ £ £ 111,315 113,645 9,229 12,705 2,629 1,824 139,351 161,487 - 1,701 4,101 2,917 155,310 180,634 20,999 58,459 134,311 122,175 245,626 235,820 245,626 235,820 245,626 235,820 |
|---|---|
| 155,310 | |
| 20,999 | |
For the year ending 30th September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Director's responsibilities;
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and were approved by the board on16th November 2020 and signed on its behalf.
..............................
The notes on page 7 to 9 form part of these financial statements.
D J Hampton Director
Page 6
The Streetly Association Limited by Guarantee
Notes to the financial statements for the year ended 30th September 2020
1. Accounting policies
Limited by Guarantee
The company is limited by guarantee of its members and does not have a share capital.
Basis of preparation of financial statements
The financial statements are prepared under the historical cost convention.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible assets and depreciation
Tangible assets are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| General and office equipment | 25% reducing balance basis |
|---|---|
| Minibus | 25% reducing balance basis |
| Sports hall | 2% reducing balance basis |
| Youth club | 2% reducing balance basis |
| Squash courts and offices | 2% reducing balance basis |
Taxation
The provision for corporation tax is calculated on the basis that the charity is not liable to tax.
2. Turnover
In the year to 30th September 2020 all of the company's turnover was to markets within the United Kingdom .
Page 7
The Streetly Association Limited by Guarantee
Notes to the financial statements for the year ended 30th September 2020
| 3. Operating surplus | ||
|---|---|---|
| The operating surplus is stated after charging : | ||
| 2020 | 2019 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 2,330 | 2,397 |
| Reporting accountants remuneration | 2,400 | 2,400 |
| Rent | - | - |
| 4. Taxation | ||
| UK corporation tax at 0% | - | - |
| - | - | |
| 5. Tangible fixed assets |
| 3. Operating surplus The operating surplus is stated after charging : Depreciation of tangible fixed assets Reporting accountants remuneration Rent 4. Taxation UK corporation tax at 0% 5. Tangible fixed assets |
3. Operating surplus The operating surplus is stated after charging : Depreciation of tangible fixed assets Reporting accountants remuneration Rent 4. Taxation UK corporation tax at 0% 5. Tangible fixed assets |
2020 2019 £ £ 2,330 2,397 2,400 2,400 - - - - - - |
|---|---|---|
| Cost Brought forward Additions Carried forward Depreciation Brought forward Charge for the year Carried forward Net book value At 30th September 2020 At 30th September 2019 6. Debtors Other |
General and office Sports equipment Minibus Hall £ £ £ 64,072 24,696 73,903 - - - |
Squash Youth courts and club offices Total £ £ £ 74,643 105,951 343,265 - - - |
| 64,072 24,696 73,903 |
74,643 105,951 343,265 |
|
| 63,868 24,652 36,976 51 11 739 |
43,118 61,006 229,620 630 899 2,330 |
|
| 63,919 24,663 37,715 |
43,748 61,905 231,950 |
|
| 153 33 36,188 |
30,895 44,046 111,315 |
|
| 204 44 36,927 |
31,525 44,945 113,645 |
|
| 2020 2019 £ £ 9,229 12,705 9,229 12,705 |
Page 8
The Streetly Association Limited by Guarantee
Notes to the financial statements for the year ended 30th September 2020
| 2020 | 2019 | |||
|---|---|---|---|---|
| 7. Creditors : amounts falling due within one year | £ | £ | ||
| Other creditors | 20,999 | 58,459 | ||
| 20,999 | 58,459 | |||
| 8. Capital commitments | ||||
| Amounts committed by the board of directors as at 30th | September 2019 | |||
| Building refurbishments | 50,000 | 50,000 | ||
| 50,000 | 50,000 | |||
| 9. Revenue account | ||||
| Brought forward | 235,820 | 220,927 | ||
| Surplus for the year | 9,806 | 14,893 | ||
| Closing balance | 245,626 | 235,820 | ||
| The reserves are made up as follows: | ||||
| Restricted funds: | ||||
| Capital commitments (note 8) | 50,000 | 50,000 | ||
| Building fund (note 5) | 111,315 | 113,645 | ||
| 161,315 | 163,645 | |||
| Unrestricted funds | 84,311 | 72,175 | ||
| 245,626 | 235,820 |
Page 9
The Streetly Association Limited by Guarantee
Accounting statement for the year ended 30th September 2020
| INCOMING RESOURCES Income from donors Investment income Charitable trading income Other income TOTAL INCOME EXPENDITURE Direct expenditure Fund raising and publicity Management and administration Repairs and maintenance TOTAL EXPENDITURE TRANSFER BETWEEN FUNDS NET INCOMING RESOURCES REALISED GAINS ON INVESTMENT ASSETS UNREALISED GAINS ON INVESTMENT ASSETS UNREALISED GAINS ON TANGIBLE ASSETS NET MOVEMENT IN FUNDS FUNDS BALANCE: BROUGHT FORWARD CARRIED FORWARD |
Restricted Unrestricted income Endowment Last funds funds funds year £ £ £ £ 274 - - 935 320 - - 285 127,300 - - 242,771 78,616 - - 56,205 |
|---|---|
| 206,510 - - 300,196 25,420 - - 39,075 985 - - 3,615 135,442 - - 191,685 34,857 - - 50,928 |
|
| 196,704 - - 285,303 2,330 2,330 - - - |
|
| 12,136 2,330 - - 14,893 - - - - - - - - - - - - |
|
| 12,136 2,330 - - 14,893 72,175 163,645 - 220,927 |
|
| 84,311 161,315 - 235,820 |
Page 10
The Streetly Association Limited by Guarantee
Income and expenditure account for the year ended 30th September 2020
| £ Income: Community hall Community centre Adult education Sports hall income Nursery rental Private studio rental Memberships Donations Interest received Cost of sales Gross surplus Administrative expenses (see page 12) Defecit from operations Playing fields Income Expenditure Other Income Building Maintenance Grant 10,000 Expenditure 10,000 - Comm Hall Redecorating Grant - Expenditure - Community development fund 11,000 Expenditure - Small grants 3,000 Expenditure 3,000 - Lunch club 2,138 Expenditure 2,138 - Christmas/Easter/Summer Evs. 7,253 Expenditure 2,915 - Family zone 1,046 Expenditure 1,647 - WMBC Covid Grants Net Surplus for the year |
£ Income: Community hall Community centre Adult education Sports hall income Nursery rental Private studio rental Memberships Donations Interest received Cost of sales Gross surplus Administrative expenses (see page 12) Defecit from operations Playing fields Income Expenditure Other Income Building Maintenance Grant 10,000 Expenditure 10,000 - Comm Hall Redecorating Grant - Expenditure - Community development fund 11,000 Expenditure - Small grants 3,000 Expenditure 3,000 - Lunch club 2,138 Expenditure 2,138 - Christmas/Easter/Summer Evs. 7,253 Expenditure 2,915 - Family zone 1,046 Expenditure 1,647 - WMBC Covid Grants Net Surplus for the year |
2020 £ 15,110 23,268 2,380 53,077 20,553 5,300 7,612 274 320 |
2019 £ £ £ £ 35,384 41,160 5,350 116,723 31,915 - 12,239 935 285 127,894 243,991 - - 127,894 243,991 171,284 246,228 43,390 - 2,237 - 8,927 3,459 6,216 - 2,711 10,000 10,000 - - 10,000 10,000 - - 14,000 - 14,000 1,000 748 - 252 4,996 4,996 - - 7,282 7,115 - 167 - - - - 49,737 14,419 9,806 14,893 |
|---|---|---|---|
| 9,179 5,720 - |
|||
| - - 11,000 - - 4,338 601 - 35,000 |
|||
| - - |
|||
| 11,000 - |
|||
| 3,000 3,000 - |
|||
| 2,138 2,138 - |
|||
| 7,253 2,915 - |
|||
| 1,046 1,647 - |
|||
Page 11
The Streetly Association Limited by Guarantee
Administrative expenses for the year ended 30th September 2020
| Wages national insurance and pensions Job retention scheme grants Minibus and travel Printing postage stationery and software Advertising Telephone and alarm Heat and light Water Insurance Repairs and renewals Refreshments :expenditure :machine rentals :income Sports equipment :expenditure :income Tea dance :expenditure :income Disabled entrance :expenditure :wmbc Car park refurbishmen :expenditure grant Cleaners wages and cleaning materials Covid PPE costs Sundries Accountancy Professional fees Bank charges Depreciation |
£ 1,192 2,511 2,970 - |
2020 2019 £ £ £ 120,028 115,319 63,457 - - 1,708 2,489 7,037 7,093 985 3,615 3,341 2,833 17,081 17,345 1,594 1,750 5,608 5,270 34,857 50,928 2,553 2,382 733 5,472 - 537 - 159 181 97 - 62 108 1,188 - 3,772 - 3,664 - 10,050 - 10,050 - - - - - 34,083 33,426 2,449 - 998 399 2,400 2,400 - 4,710 516 393 2,330 2,397 171,284 246,228 |
|---|---|---|
| 219 38 - |
||
| 34 1,222 - |
||
| - - |
||
| 12,974 12,974 - |
||
Page 12