## **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