COMPANY REGISTRATION NUMBER 04335420
GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
UNAUDITED FINANCIAL STATEMENTS
31 MARCH 2021
Charity Number 1091119
Company Number 04335420
t C accounts : tax - legal « financial planning 3 Acorn Business Centre Northarbour Road Cosham Portsmouth PO6 3TH
GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
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|---|---|---|---|---|---|---|---|
|TRUSTEES|ANNUAL|REPORT|
|YEAR|ENDED 31 MARCH|2021|
|CONTENTS|PAGE|
|Trustees|annual|report|1to4|
|Independent examination|report to the members|5|
|Consolidated|statement|of financial|activities|
|(incorporating the|income|and|expenditure|account)|6|
|Consolidated|balance sheet|7to8|
|Charity balance sheet|9|
|Notes to the|financial statements|10 to19|
|The following|pages do not form part of the financial statements|
|Detailed|non-consolidated|statement|of financial|activities|of the|charity|21 to 22|
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GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
TRUSTEES ANNUAL REPORT
YEAR ENDED 31 MARCH 2021
The trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements of the charity for the year ended 32 March 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name Gosport Community Association Charity registration number 1091119 Company registration number 04335420 Registered office Bury House Bury Road Gosport Hampshire PO12 3PX
THE TRUSTEES
The trustees who served the charity during the period were as follows:
Chairperson Mrs S Desbois Treasurer MrR F Skiller (Resigned 2 November 2020) Mrs D Sherwin Mrs K Skiller MrR Young
Managerial staff
Centre Administrator Mrs S Bennett
Accountants TC Group 3 Acorn Business Centre Northarbour Road Cosham Portsmouth PO6 3TH Bankers Barclays 43/44 High Street Gosport Hampshire PO12 1DN
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GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
TRUSTEES ANNUAL REPORT
YEAR ENDED 31 MARCH 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Gosport Community Association (GCA) is a company incorporated in England, limited by guarantee and is registered under the Charities Act. The GCA is governed by the memorandum and articles of Association.
The memorandum and articles of Association require that the GCA be managed by a Board of Trustees (the committee), the members of which are directors and managing trustees.
Committee members are appointed or reappointed each year at the annual general meeting by ballot of GCA’s Patrons. Patrons are individuals over 18 years of age who have paid the appropriate GCA subscription.
Trustees are appointed on the basis of their knowledge of the educational and socio-economic needs of the inhabitants of the area of benefit and receive appropriate initial induction and training.
The board meets not less than eight times per year and regularly reviews the major strategic, business and operational risks that the charity faces. The trustees have identified that the main risk facing the charity is operating risk in terms of the condition of the building. Systems and procedures are in place to manage these risks and appropriate actions are taken to reduce these risks to an appropriate level. Major operating decisions are made by a simple majority of the quorum board. Fundamental operating and constitutional matters are decided by a simple majority of a quorum general meeting.
GCA has a wholly owned trading subsidiary ‘GCA Social Club Limited’ which operates the Patrons’ and function bars on the Company premises.
PURPOSES AND AIMS
Our charity’s purpose, as set out in the objects contained in the company’s memorandum of association, is to:
- To promote the benefit of the inhabitants of Gosport and district without distinction of sex, sexual orientation, age, disability, nationality, race or of political, religious or other opinions by associating together the said inhabitants and the statutory authorities, voluntary and other organisations, 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.
The aim of our charity is to establish, or to secure the establishment, of a Community Centre and to maintain and manage the same (whether alone or in co-operation with any statutory authority or other person or body in furtherance of the objects). To promote such other charitable purposes as may from time to time be determined.
ENSURING OUR WORK DELIVERS OUR AIMS
We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous twelve months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help.
The review also helps us ensure our aims, objectives and activities remain focused on our stated purposes.
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities.
oy E
GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
TRUSTEES ANNUAL REPORT
YEAR ENDED 312 MARCH 2021
THE FOCUS OF OUR WORK
Despite having to close for our usual range of hiring of venues and events, due to the pandemic, we have continued to support Alverstoke Pre-School, Alcoholics Anonymous and the National Blood Transfusion Service, as prescribed by Government rulings. .
FINANCIAL REVIEW
The centre was closed mid-March 2020 due to Covid-19 which resulted in the cessation of all trading activities. To minimise the impact of lost income all staff were placed on furlough, and claims made through the Coronavirus Job Retention Scheme (CJRS) and also a successful claim was made for the Retail, Hospitality and Leisure Grant Fund. All Covid-1g9 support grant income that the company was entitled to at the year-end has been recognised in these accounts.
PLANS FOR FUTURE PERIODS
The Trustees acknowledge and recognise the impact of the Covid-1g pandemic on future operations of the charity, the centre remained closed from mid-March to August 2020, and the centre has had to close again due the second national lockdown at the start of November 2020. This has resulted in a significant loss of forecasted income and in order to mitigate this loss of income staff have continued to be furloughed and regular CJRS claims made. The Coronavirus Business Interruption Loan Scheme was also used to obtain a loan through GCA Social Club Limited to help with cash flow.
The charity will look to re-open the centre when safe to do so and resume its activities in order to continue to support the Gosport Community. Once we do reopen for functions and events, we envisage a surge of bookings, particularly for those whose weddings were postponed last year. Going forward, we are optimistic of the future of the Association.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The organisation is a charitable company limited by guarantee. The company was established with objects and articles and is governed under its Articles of Association.
RECRUITMENT AND APPOINTMENT OF MANAGEMENT COMMITTEE
The directors of the company are also charity trustees for the purposes of charity law. All members give their time voluntarily and receive no benefits from the charity.
RISK MANAGEMENT
Following all Government Guidelines, we have a strict policy on wearing face coverings within the building and have one-way systems in place, plus regular cleaning and placement of sanitizing posts throughout the premises.
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GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
TRUSTEES ANNUAL REPORT
YEAR ENDED 31 MARCH 2021
RESPONSIBILITIES OF THE TRUSTEES
The trustees (who are also the directors of Gosport Community Association for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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¢ select suitable accounting policies and then apply them consistently;
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e observe the methods and principles in the Charities SORP;
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¢ make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose, with reasonable accuracy at any time, the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
INDEPENDENT EXAMINATION
The Trustees have resolved to have an independent examination of the accounts for the year ended 31 March 2021 as opposed to an audit as they consider the financial savings in the best interest of the charity.
SMALL COMPANY EXEMPTION
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
This report was approved by the Board of Trustees on sf2/ 2024 SignedSe re?? Susan Desbois, Desbois, Chairto the Board
re?? Susan Desbois, Desbois, Chairto the Board of Trustees
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF GOSPORT COMMUNITY ASSOCIATION LIMITED
| report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31st March 2021 which are set out on pages 6 to 19.
Responsibilities and basis of report
As the charity trustees of the charitable 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 charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charitable company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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e the accounts do not accord with those records; or
'
- e the accounts do not comply with the accounting requirements of section 386 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
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:
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¢ 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).
| 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.
Signed: a | !
James 3 ———————
Blake FCA Dated: (¢ ae 2021
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for and on behalf of TC Group
3 Acorn Business Centre, Northarbour Road, Cosham, Portsmouth PO6 3TH
<5.
Nee
GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 312 MARCH 2021
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|---|---|---|---|---|---|---|
|Restricted|
|Funds|Unrestricted|TotalFunds|Total|Funds|
|2021|Funds 2021|2021|2020|
|Note|£|£|£|£|
|INCOME AND ENDOWMENTS|FROM:|
|Donations and legacies|2|151,789|151,789|36,308|
|Trading and fundraising|activities|3|-|42,280|42,280|278,169|
|Investment income|4|-|439|439|438|
|Charitable activities|5|-|46,512|46,512|142,074|
|TOTAL|
|-|241,020|241,020|456,989|
|EXPENDITURE ON:|
|Trading and fundraising|activities|6|ws|60,708|60,708|181,391|
|Charitable activities|7|-|181,938|181,938|276,022|
|TOTAL|
|“|242,646|242,646|457,413|
|NET INCOME / (EXPENDITURE)|s|(1,626)|(2,626)|(424)|
|OTHER|RECOGNISED|GAINS|/ (LOSSES)|
|Unrealised gains/(losses) on revaluation of investment assets|e|2,576|2,576|405|
|NET MOVEMENT IN FUNDS|‘|950|950|(829)|
|TRANSFERS|
|a|e|a|c|
|RECONCILIATION|OF FUNDS|
|Total funds brought forward|:|469,107|469,107|469,936|
|TOTAL FUNDS CARRIED FORWARD|a|470,057|470,057|469,107|
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The Statement of Financial Activities includes all gains and losses recognised during the year. All of the above amounts relate to continuing activities.
The notes on pages 10 to 19 form part of[these][financial][statements.]
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GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
CONSOLIDATED BALANCE SHEET
31 MARCH 2021
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|---|---|---|---|---|---|---|
|2021|2020|
|Note|£|£|£|
|FIXED|ASSETS|
|Tangible|assets|10|626,721|634,746|
|626,721|634,746|
|CURRENT ASSETS|
|Stocks|4,411|11,310|
|Debtors|13|36,651|34,853|
|Investments|14|15,018|12,442|
|Cash|at bank|32,804|7,896|
|88,884|66,501|
|CREDITORS:|Amounts falling due within|one|year|15|(23,412)|(44,156)|
|NET CURRENT ASSETS|65,472|22,345|
|TOTAL ASSETS|LESS CURRENT|LIABILITIES|692,193|657,091|
|CREDITORS: Amounts falling|due|after more than|
|one year|16|(222,136)|(187,984)|
|PROVISIONS|FOR|LIABILITIES|.|.|
|NET ASSETS|470,057|469,107|
|FUNDS|
|Restricted|income|funds|-|-|
|Unrestricted|income funds|470,057|469,107|
|TOTAL FUNDS|470,057|469,107|
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The notes on pages 10 to 19 form part of these financial statements.
Js
GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
CONSOLIDATED BALANCE SHEET
31 MARCH 2021
For the year ending 31st March 2021 the charitable company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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Trustees’ responsibilities: ¢ — inTheaccordance members havewith section not required476; the companyto obtain an audit of its accounts forthe year in question
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° The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The trustees have prepared group accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. These financial statements were approved by the trustees on the isI2hor., and are signed on their behalf by:
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Sl—,
Mrs S Desbois
Trustee
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Company Registration Number 04335420
The notes on pages 10 to 19 form part of these financial statements.
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GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
CHARITY BALANCE SHEET
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|---|---|---|---|---|
|32 MARCH|2021|
|2021|2020|
|Note|£|£|£|
|FIXED|ASSETS|
|Tangible|assets|11|623,458|630,396|
|Investments|2|2|1|
|623,459|630,397|
|CURRENT ASSETS|
|Debtors|14|43,316|69,920|
|Investments|15|15,017|12,442|
|Cash at bank|14,193|1,776|
|72,526|84,138|
|CREDITORS:|Amounts falling due within one year|16|18,809|28,156|
|NET CURRENT ASSETS|53,717|55,982|
|TOTAL ASSETS LESS CURRENT LIABILITIES|677,176|686,379|
|CREDITORS:|Amounts|falling due|after more than one|
|year|17|(175,469)|(187,984)|
|PROVISIONS|FOR|LIABILITIES|18|
|.|.|
|NET ASSETS|501,707|498,395|
|FUNDS|
|Restricted|income funds|.|-|
|Unrestricted|income funds|501,707|498,395|
|TOTAL FUNDS|501,707|498,395|
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The trustees have prepared group accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. These financial statements were approved by the trustees on the s/i2/202.1. , and are signed on their behalf by: S Mrs S Desbois Trustee
Company Registration Number 04335420
The notes on pages 10 to 19 form part of these financial statements.
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GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
32 MARCH 2021
4. ACCOUNTING POLICIES
General information and basis of preparation
Gosport Community Association is a company limited by guarantee registered in England and Wales, the amount guaranteed is £11. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity's operations and principal activities are set out in the Trustees report on pages 1to 4.
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Consolidation
The financial statements consolidate the results of the charity and its wholly owned subsidiary GCA Social Club Ltd ona line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the Trust has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.
Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Endowment funds represent those assets which must be held permanently by the charity, principally insert detail, income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.
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GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
32 MARCH 2021
2. ACCOUNTING POLICIES (continued)
Income recognition
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised, the charity will have been notified of the amounts and the settlement date in writing, if there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees' Annual Report.
Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Income from trading activities includes income earned from fundraising events and trading activities undertaken through GCA Social Club Limited to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
The charity receives government grants in respect of redevelopment works. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity's right to receive payment is established.
Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount ofthe obligation can be measured reliably.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
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GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
31 MARCH 2021
1. |ACCOUNTING POLICIES (continued)
Support costs allocation
andSupport costs are those that assist the work ofthe charity but do not directly represent charitable activities include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Fixed assets
The land and buildings and fixtures and fittings were professionally valued in December 1998 and the valuation was adopted from this date. Since the valuation date, purchased additions and improvements to tangible fixed assets have been capitalised at cost. Donated furniture and equipment have been capitalised at the higher of the value in use to Gosport Community Association and the net realisable value.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation of the asset over their expected useful economic lives as follows: Freehold land - Not depreciated Freehold buildings - 1% Straight line Furniture, fixtures and equipment - 15-40% Reducing balance Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments' in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year. Investments in subsidiaries / joint ventures / associates are measured at cost less impairment.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the SOFA over the period ofthe lease.
Pension costs
The charity operates a defined contribution scheme for the benefit of certain em ployees. The costs of the contributions are expensed to the SOFA in the year they are payable.
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pe
GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
32 MARCH 2021
a ACCOUNTING POLICIES (continued)
Going concern
Due to the Covid-19 (Coronavirus) pandemic and the consequent lockdown restrictions, the centre has unfortunately been closed for the large periods of the last year ended 32% March 2021 which has had a significant effect on the group profits. This financial impact is being managed by the trustees by successfully applying for government grants and also a business interruption loan to help negate the effects of the centre closure.
The trustees have prepared cash flow forecasts which show that the charity should have sufficient funds to meets its obligations as they fall due, therefore the trustees expect the charity to be able to continue to Operate for the foreseeable future and continue to adopt the going concern basis of accounting in preparing the financial statements.
2. INCOME FROM DONATIONS AND LEGACIES
| Restricted funds | Unrestricted | ||
|---|---|---|---|
| 2021 | ~=funds 2021 | 2020 | |
| £ | £ | £ | |
| Donations | |||
| Donations - Miscellaneous | - | 922 | 6,243 |
| Grants receivable | |||
| Hampshire CC | - | - | |
| CoronavirusJob Retention Scheme Grant | * | 95,952 | 3,363 |
| Local Restrictions Grant | 15,356 | - | |
| Retail Hospitalityand Leisure Grant | - | 25,000 | |
| GCA Social Club Limited —grants (see note 12) | 39,560 | 1,702 | |
| - | 151,789 | 36,308 |
- INCOME FROM TRADING AND FUNDRAISING ACTIVITIES
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Fundraising events Subscriptions |
3,319 | 6,087 |
| Carpark receiptsand permits | 20,127 | 33,452 |
| Dinnerand dances | - | 851 |
| Raffles | - | - |
| Otherevents | 50 | 1,847 |
| 23,496 | 42,237 | |
| Fundraisingtrading | ||
| GCA Social Club Limitedturnover(see note 12) | 18,784 | 235,932 |
| 42,280 | 278,169 |
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GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
31 MARCH 2021
4. INVESTMENT INCOME
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Incomefrom UK listed investments | 439 | 438 | ||||
| Bank interest receivable | - | - | ||||
| 439 | 438 | |||||
| 5. | INCOMING RESOURCESFROM CHARITABLE ACTIVITIES | |||||
| 2021 | 2020 | |||||
| £ | £ | |||||
| Room hire and catering | 46,512 | 138,250 | ||||
| Furthereducation fees | - | 3,824 | ||||
| 46,512 | 142,074 | |||||
| 6. | COSTS OFTRADING AND FUNDRAISING | ACTIVITIES | ||||
| 2021 | 2020 | |||||
| £ | £ | |||||
| Fundraising events | ||||||
| Eventand dance costs | “,.¢ | - | 2,077 | |||
| Fundraisingtrading | : | ; | ||||
| GCA Social Club Limited trading costs (see | note 12) | 60,708 | 179,314 | |||
| . | ||||||
| 60,708 | 181,391 | |||||
| 7. | COSTS OFCHARITABLE ACTIVITIES BYACTIVITYTYPE | |||||
| Provision of facilities for | Direct | Occupancy and | Management and | Total Funds | ||
| promoting | expenditure | support | admin | |||
| social welfare | ||||||
| 2021 | £ | £ | £ | £ | ||
| Restricted | - | . | - | - | ||
| Unrestricted | 8,320 | 102,786 | 70,832 | 181,938 | ||
| 2020 | ||||||
| Restricted | - | - | - | - | ||
| Unrestricted | 16,596 | 160,647 | 98,779 | 276,022 | ||
| 16,596 | 160,647 | 98,779 | 276,022 |
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GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
32 MARCH 2021
8. NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR
This is stated after charging:
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Accountancyfees(non-audit Depreciation |
services) | 13,235 8,025 |
20,043 8,968 |
9. STAFF COSTS AND EMOLUMENTS
Total staff costs were as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wagesand salaries Employer's National Insurance cost Employerpension cost |
150,949 1,224 1,575 |
191,605 5,413 1,814 |
| 153,748 | 198,832 |
No trustees received any remuneration or reimbursement of expenses from the company during the current or previous year.
Particulars of employees:
The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows (No employee received emoluments >£60,000):
| 2021 | 2020 | |||
|---|---|---|---|---|
| No | No | |||
| Numberofadministrative staff | 3 | 3 | ||
| Numberofbarstaff | 7 | 7. | ||
| Numberofotherstaff | 5 | 5 | ||
| 15 | 15 |
No employee received emoluments of more than £60,000 during the year (2020-Nil).
-15-
GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
32 MARCH 2021
10. TANGIBLE FIXED ASSETS
| Furniture, | |||
|---|---|---|---|
| Landand | fixtures and | ||
| Group | buildings | equipment | Total |
| £ | £ | £ | |
| COSTOR VALUATION | |||
| At 1April 2020 Additions |
656,835 - |
201,441 - |
858,276 - |
| Disposals | - | - | - |
| At31March 2021 | 656,835 | 201,441 | 858,276 |
| DEPRECIATION | |||
| At1 April 2020 | 52,585 | 170,945 | 223,530 |
| Charge in year Disposals |
2,935 | 5,090 s |
8,025 . |
| At32March 2021 | 55,520 | 176,035 | 231,555 |
| NETBOOKVALUE | |||
| At31March 2021 | 601,315 | 25,406 | 626,721 |
| At31March2020 | 604,250 | 30,496 | 634,746 |
Included within Land and buildings is £375,115 relating to land which is not depreciated.
| Furniture, | |||
|---|---|---|---|
| Landand | fixturesand | ||
| Charity | buildings | equipment | Total |
| £ | £ | £ | |
| COSTORVALUATION | |||
| At 1April 2020 Additions |
656,835 - |
172,484 - |
829,319 - |
| Disposals | - | - | - |
| At31March2022 | 656,835 | 172,484 | 829,319 |
| DEPRECIATION | |||
| At 1April 2020 | 52,585 | 146,338 | 198,923 |
| Charge in year | 2,935 | 4,003 | 6,938 |
| Disposals | - | - | - |
| At31March 2021 | 55,520 | 150,341 | 205,861 |
| NETBOOK VALUE | |||
| At31March 2021 | 601,315 | 22,143 | 623,458 |
| At31March2020 | 604,250 | 26,146 | 630,396 |
Included within Land and buildings is £375,125 relating to land which is not depreciated.
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GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
31 MARCH 2021
11. FIXED ASSET INVESTMENTS
2021 2020 £ £ Investment in GCA Social Club Limited (see note 12) 1 1
12. TRADING AND FUNDRAISING ACTIVITIES - GCA SOCIAL CLUB LIMITED
The charity owns the whole of the issued ordinary share capital of GCA Social Club Limited, a company registered in England. The subsidiary is used for non-primary purpose trading activities. All activities have been consolidated on a line by line basis in the SOFA. The total net profit is gifted to the charity. A summaryofthe results of the subsidiary is shown below:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Turnover | 18,784 | 235,932 |
| Costofsales | (57,385) | (166,758) |
| Gross profit | (38,601) | 69,174 |
| OtherIncome | 39,560 | 1,702 |
| Administrativeexpenses | 3,323 | 12,556 |
| Rentpaidto charity | 72,000 | |
| Netincomeforyear | (2,364) | (13,680) |
| Gift Aid donation | - | - |
| Retainedincome | (2,364) | (13,680) |
The aggregate of the assets, liabilities and funds was:
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Tangible fixed assets | 3,263 | 4,350 | |||
| Currentassets | 26,398 | 19,133 | |||
| Current liabilities | (5,365) | (18,392) | |||
| Amountsowedfrom / (to)the charity | (9,281) | (34,379) | |||
| Non-current liabilities | (46,667) | - | |||
| Funds (representing one ordinaryshareof£1 | £1each) | (31,652) | (29,288) | ||
| DEBTORS | |||||
| Group | Charity | ||||
| 2021 | 2020 | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Trade debtors | 19,345 | 2,466 | 19,345 | 2,466 | |
| VAT | 110 | - | 869 | 2,273 | |
| Amountsowed bygroup undertakings | - | - | 9,281 | 34,379 | |
| Prepayments and accrued income | 17,196 | 32,255 | 13,821 | 30,553 | |
| PAYE and social security | - | 132 | - | 249 | |
| 36,654 | 34,853 | 43,316 | 69,920 |
13. DEBTORS
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GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
MANAGEMENT INFORMATION
YEAR ENDED 31 MARCH 2021
14. CURRENTASSET INVESTMENTS
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Otherinvestments | 15,018 | 12,442 | |||||
| Thecompany's holdingof839.35 | 839.35income | unitsintheCharities Official InvestmentFund hasamarketvalue | |||||
| at31March 2021of£15,018 representing an increase in valueof£2,576over the previous | year. | ||||||
| CREDITORS:Amountsfalling duewithin oneyear | year | ||||||
| Group | Charity | ||||||
| 2021 | 2020 | 2021 | 2020 | ||||
| £ | £ | £ | £ | ||||
| Bank loansand overdrafts | 11,401 | 8,235 | 8,068 | 8,235 | |||
| Tradecreditors | 5,026 | 18,890 | 4,826 | 12,201 | |||
| Othercreditors | 3,151 | 10,426 | 2,176 | 3,399 | |||
| PAYE and social security | 1,115 | - | 1,019 | - | |||
| Accrualsand deferred income | 2,719 | 4,546 | 2,719 | 4,321 | |||
| VAT | - | 2,059 | - | - | |||
| 23,412 | 44,156 | 18,808 | 28,156 | ||||
| CREDITORS: Amountsfalling due aftermorethan | thanoneyear | ||||||
| Group | Charity | ||||||
| 2021 | 2020 | 2021 | 2020 | ||||
| £ | £ | £ | £ | ||||
| Bank loans repayable in | the second | to fifth | 70,861 | 30,861 | 30,862 | 30,861 | |
| yearinclusive | |||||||
| Bank loans repayable | after more | than 5 | 133,275 | 137,803 | 126,608 | 137,803 | |
| years | |||||||
| Pension commitments |
payable | in | the | 5,760 | 5,760 | 5,760 | 5,760 |
| second to fifth year inclusive | |||||||
| Pension commitments payable after than 5years |
more | 12,240 | 13,560 | 12,240 | 13,560 | ||
| 222,136 | 187,984 | 175,469 | 187,984 |
The company's holding of 839.35 income units in the Charities Official Investment Fund has a market value at 31 March 2021 of £15,018 representing an increase in value of £2,576 over the previous year.
-
CREDITORS: Amounts falling due within one year
-
CREDITORS: Amounts falling due after more than one year
The bank loan is secured on the Charity’s freehold land and buildings.
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a
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GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
MANAGEMENT INFORMATION
YEAR ENDED 31 MARCH 2021
17. OPERATING LEASE COMMITMENTS
At 31st March 2021 the group had aggregate annual commitments under non-cancellable operating leases as set out below.
| as set out below. | |||||
|---|---|---|---|---|---|
| Group | Charity | ||||
| 2021 | 2020 | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Operating leaseswhich expire: | |||||
| Within 2to 5years | 360 | 360 | 360 | 360 | |
| Within 2 year | - | - | - | - | |
| 360 | 360 | 360 | 360 |
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GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
MANAGEMENT INFORMATION
YEAR ENDED 31 MARCH 2021
The following pages do not form part of the statutory financial statements which are the subject of the independent examination report on page 5.
GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
DETAILED NON-CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES OF THE CHARITY
YEAR ENDED 31 MARCH 2021
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| INCOMEAND ENDOWMENTS FROM: | |||
| DONATIONSAND LEGACIES | |||
| Donations—Miscellaneous | 922 | 6,243 | |
| Hampshire CC —Othergrant | - | - | |
| 922 | 6,243 | ||
| FUNDRAISING ACTIVITIES | |||
| Carpark receipts and permits | 20,127 | 33,452 | |
| Dinnerand dances | - | 851 | |
| Otherevents | 50 | 1,847 | |
| Subscriptions | 3,319 | 78,087 | |
| 23,496 | 114,237 | ||
| INVESTMENT INCOME | |||
| Incomefrom UK listed investments | 439 | 438 | |
| Bank interest receivable | - | Z | |
| 439 | 438 | ||
| CHARITABLE ACTIVITIES | |||
| Room hireand catering | 46,512 | 138,250 | |
| Furthereducation fees | - | 3,824 | |
| 46,512 | 142,074 | ||
| OTHER INCOME | |||
| CJRS grant | 95,951 | 3,363 | |
| Retail Hospitalityand Leisure Grant | 15,356 | 25,000 | |
| 111,307 | 28,363 | ||
| TOTAL INCOME | 182,676 | 291,355 | |
| EXPENDITURE ON: | |||
| RAISING FUNDS | |||
| Eventand dance costs | - | 2,077 | |
| - | 2,077 | ||
| CHARITABLE ACTIVITIES | |||
| Directexpenditure | |||
| Equipment repairs | 1,067 | 875 | |
| Other professional fees | - | - | |
| Catering supplies and equipment | 2,457 | 3,093 | |
| Hire ofequipment | - | 2,055 | |
| Licences and subscriptions | 3,775 | 4,530 | |
| Other direct expenses | 1,011 | 6,043 | |
| Furthereducation tutorfees& expenses | : | - | |
| 8,320 | 16,596 | ||
| -21- |
GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE
DETAILED NON-CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES OF THE CHARITY
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|YEAR ENDED|31 MARCH 2021|
|2021|2020|
|£|£|
|Occupancy and support|
|Wages and|salaries|67,835|83,967|
|Light and|heat|6,263|24,410|
|Cleaning|-|3,652|
|Rates,|water and|refuse|removal|6,797|12,333|
|Insurance|12,206|12,999|
|Property repairs|2,747|15,768|
|Depreciation of buildings and|contents|6,938|7,518|
|102,786|160,647|
|Administration|
|Wages and|salaries|43,765|54,172|
|Accountancy|13,235|16,623|
|Audit fees|-|3,420|
|Telephone and|postage|3,710|4,158|
|Other office expenses|-|644|
|Software,|stationary and|photocopying|4,135|6,242|
|Security expenses|-|2,635|
|Bank charges and bank|loan|interest|5,987|10,357|
|Advertising|:|-|
|Travel|528|
|70,832|98,779|
|181,938|276,023|
|TOTAL EXPENDITURE|‘|181,938|278,100|
|NET INCOME|/ (EXPENDITURE)|738|13,255|
----- End of picture text -----
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