COMPANY REGISTRATION NUMBER 04335420 GOSPORTCOMMUNITY A550CIATION COMPANY LIMITED BY GUARANTEE UNAUDITED FINANCIAL STATEMENTS 31 MARCH 2024 Charity Number 1091119 Cornpany Number 04335420 jo•wI BUSINESS Ix J ADVISORS 3 Acorn Business Centre Northarbour Road Cosham Portsmouth P06 3TH GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2024 CONTEwrs PAGE Trustees annual report It04 Independent examination report to the members Congolidatad statement of financial activitles Ilncorporatlng the Income and expenthture accovnt) Consolldated balance sheet 7t08 Charlty balance sheet Notss tothe financial statements iotOl9. The followlng pages do not fonm part of tho financlal rtatsments Det3lled non-¢on5011dated 5taternent of flnancial activitles of the charlty 2Xt022 GOSPORT COMMUNITY ASSOCIATION COPIJPANY LIMITED BY GU,ARAbifEE TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 1024 The trustees, who are also directors forthe purposes of company law, hI￿re pleasure In p￿sentIng thelr report andthetlnanclal statements of the charityforthe yearended 31 March 2024. REFERENCE AND ADMINISTRATIVE DETAILS Rag15tered charfty Trame G05POrt Communlty Associatlon Charity regSstration nvmbor 1091119 Company registration number Q4335420 Reghtéred offire Bury House Bury Road Gosport Hampshlre P012 3PX THE TRUSTEES The trustees who seNed the charlty durlng the perlod were a5 follows: Ch6irperson Treasurer MrR Young Mr P Croucher Mr l M*hews MrT Poore Mrs 5 Goodmart MKR Fredrfck Mr5 D Lennon Mrm Goodman MrD Dick Mr R Toseland Mr D Beard Managerlal staff Centre AdminIstrat￿r Mrs S Bennett Accountants TC Group J Acorn Buslness Centre Northarbour Road Coshtm Portsmouth P06 3TH Bankqrs Barclays 43144 Hlgh Street G¢J5POrt Hampshire P012 IDN GOSPORT COMMiJNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE TRUSTEES ANNUAL REPORT YEAR ENDED 3& MARCH STRUCTURE GOVERNANCEAND MANAGEMEMr The Gosport Communlty Assoclatlon Is a company incorporated in EnyanEI Ilmited by guar&ntee and Is reglstered under the Charitles Act. The ChBrlty1s governèd by the memorandurn and articles of the As50cl&tlon, whlch requlre thatthe Gosport Community A55oriatlon bo managed by a board of trvstees (the Commlttee), the members of which are dlrertors and managlng trustees. Committee members are appDlnted or reappolnted each year at the annual general meEtlng by ballot of the Gosport Community knociation patron5. Patrons are indlvidua15 over IB years of age who havtt pald the appropriate subscrfptlon fee. Trustees are appDinted based on th21r knowledge of the educational and 50cIo- economlc needs Df the Inhabltants of the area of benéfit and recelve approprlate Initial induction and training. All members glve thelr tlrne voluntarlly and recelve no beneflts from tho Charlty. The board meet5 no le5S than eight time5 a year and regularly reviews the rnajorstrateglc, buslness lind operatlonal r19ks that the Charityface5. The tKUStees have Identlfied that the maln rfsk facing the CharFty is the condltlon of tho buildlng. Sy5t¢m5 Jnd proodvres are In place to mana9e these rlsks and appropriato actions are tsken to reduce these to an apprLipriate level. Major operatlng declsions are made by a slmple majorlty of the quorum board, Fundamentsl operating and constitutlonal matters are decldEd by a simple majorlty of a quorum general meetlng. G05PCIrt Communlty Asso¢lation has wholly owned tradlng subsldl8ry'GCA Soclal Club", which operates the P?tron5 and functlons bars onthe Company prem15es.The operation ofthe bars Is keyfor members of the Gosport Community AssocSatlon and meets the pojlcy of providing Inexpenslve yoclal and leigure facllltles for the Inhablt'ants of Gosport. OBJEcnvES AND ACTIVITIES To promote the benefit (If the Inhabitants of Go5POrt and dlstrlctwlth the dlstlncdon of se4 sexual orientatlon, agei disabllltyf nailonallty, race or of polltical, rellgious or f)theroplnions by a550clatlng ￿th the local authoritles, voluntary and other organisdtions In a common effortto advance educatkon and to provide faiilltles In the interests of soclal welfare for reC￿atIon and leisure tlme activFties wlth the object of improvlng the condStions of the sald Inhabltants. The aim of our Charity is to establlsh orsecure the estaNlshment ol a Community Centre to malnt4in and manage, Or to cooperate with any statutory avthorlty in the maintenance and management of such a Centre forthe furtherance of the above objectlve5. To promote such other charitable purposes as fnay from time to tlme be determlned, ACHIEVEMENTS AND PERFORMANCE The Centre has continuedto be thè hub D* local group gathering& We continue to h05tthe Natlonal Blood Tran5fiislon Service, Parually Slghted Club, Alcoho14c Anonymous, Level Up- a Charity that focuses on the mentsl health Issues of yovng people, Smoklng Ces5atlDn-sUPPOrted by thÈ NHS, along with Young at Heart Unlty Club forthe over 50's. We have welcomed Dentaid, whu are a mobile unit who vlslt the Centre twlce nionthly to offer those in the community who have trouble accesslng dental treatment. As well a5 these we have clubs and groups that brin9 people tugether and offer a range of Interests for all ages. We have Introduced a Communlty Clnema In our Theatfft, once a month, with the help of local volunteers and Level Up, which hos proved SLFccessFvl and regular monthly mvslc event$, which a￿ also becomlng very popular. The Gosport Communty Gallery had its Inaugural exhlbition shDwcasing local artist5, work and we lookforward to contlnLJlng to promote and encouragè Art forthe resldents of Gosport and suffound]n9 arp.a. GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED B Y GUARANTEE TRUSTEES ANNUAL REPORT YEARENDED 31 MARCH 2D24 Fundralslng has contlnved throughout the year to furtherthe bvildlng fund, niany events have been successful and there have been donatlons from events arranged by Trusteos and community members. It should be noted thatwe have a small contlngency of heEpÈrs who off¢rthelr regular 5VPPOrt and glve freely of thelr time and energyi from helping to run events and bOD￿n9 entertainment. The board of Trustees are extremÈly grateful foralltheydo and knowthat malntslnlng theCeDtre would be made more dlfflcultwlthoutsuch help. Incomefrom the GCA Sod31 Club ha5 contlnyed to Incre.aseand we. continveto control oveispendlng and payroll CDsts accompanled wlth dose Ilalson wlth the Bar Manager and stock taker. Entertalnment has been expanded to Include a varlety of dIfffe￿nt acts and actlvltles to try and attract new member5 wlth dlfferent taste5, thi5 hBs 50 far proved to be successful and hopefully wlll continue to grow. The Income from leasln9 car park spaces tothe NHS ¢ontlnues to help wlth the flnancing of long overdve and essential maintenance repalrs amongst other costs. The Trustees also plan to reintroduce User nieetlng5 for clublgroups and regular users to asses5 current need5 and standards wlthln the Centre. ENSURING OUR WORK DELIVERS OUR OBJECTIVES We revlew our almi objectlves and attivities each year, we look at what we have achieved and the outcomes of our work In the prevlous twèlve months. Tlie revlew looks atthe success of each ath'vlty and the benefits they have brought tts those groups of people we have set oirt to help. Thls hÈlps us ensure our objectlves remaln focused on ourstated purposes. FINANCIAL REVIEW AND PLANS FOR THE FUTURE We are eontidentthatwe are regalnlng ourplace In the are3 &s a popularand affordable venve forlocal and farnlly events. Thetrustees are mlndful of the changlng flnandal cllmate wlth uricÈYtslnty over utllfty prices, inflatlon and interest rates and are addressing these elements on an ongolng basi5. Ajthovghwe have had a retum of regular clubs and groups andfunction hire ha5 increased, we are actlveEy pur5ulng new revenue streams and looklng at events that will enhance the Centre becoming the local resldent's flrst cho5ce when deciding to hire a venue. The Community Clnema wlll be expandingto attra¢ta wlderaudlence and age groups, andwe contlnueto promote our Centre as a live music venue for entertainment and Arts. The Dentald moblle has extended into 2025 to contlnue helplng the residents of Gosport. The Trustees contlnue to work towards e5tHbli5hing the wayforward forthe G05portCommunlty Assodation, continued monitoring of staffinglbulldings and the trdding subsidlary Isongoing to ensurethatseNlces and facllitie5 meetthe thanging needs Of the communlty. RISK MANAGEMENT The Guidellnesfor Health and Safety and for Risk A5se5sment are at the forefront of every event and fijnction that Is undertaken in the Centre. Whether it Is an in.house event, or one being organized by another bodyi plansi layout and attendance capautie5 are scrutinlzed by our Management Team. GOING CONCF.RN The trustees have prepared cash flow forecasts whlch show that the charity should have sufficient funds to meets Its obligations as theyfall due, theraforethe trustees expectthe charltyto be able to continueto operate fortheforeseeablefuture and contlnue to adoptthe golhg concern basls of accountlng in preparlng thefinancial statements. The Trustees are attively pursulng new revenue stream5 and looking at value-added events that wlll enhants the centre becoming the local pÈople5' first cholce when wanting to hire a venue for an event or cdebratlon. GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 21Tr24 RESPONSIBIUTIES OFTHE TRUSTEES The trustees (whD are. also the dlréctors of Gosport Community A5sodatltsn for the purpose5 of company law) are re$ponslble fDr preparlng the Trvsteès knnuel Report and the tlnanclal statements In accordance wlth appllcable law and United Kingdom Accovntlng Standards (United Klngdom Gftneralty Accepted Accountlng Prattlce). Company law reguires the trustees to prepare ftnancialstatements for Èach finandal yeBrwhich give a true and fair view of the state of 8ffalr5 of the chbrttable compary and of the incomlng resources and appllcatfon of resources, Includlng the Income and expendlture, of the charitable company forthat perfod, In preparing these flnanclal statements thetrust£es are required to: select Suitable accounting policles and then applythem conslstentlyj observe t17e methods and prlnclples In the charl￿e$ SORP. make judgements and estin￿te5 that are reasonable and prudEnk" state whether appllcable UK ACCoun￿ng StarKlards have been follt)wed, Subject to any matenal departures dlsc105ed and &xplalned in the financlal stat2ments' prepare the ftnanclal statements on the golng concern ba515 unless It Is Inapproprlate to presume that the charltable company wlll contlnue in operatlon. The Trustees are re5pon51bke for keeping proper accountlng records that dlsclose, wlth reasonable accuracy at any time, thp. finandal position of the charitsble company and enablo them to on5ure that the finantial statementg comply with the Companies Att 2006. The trustees are also responslble forsafeguardlng thè &ssets of the charltsble company and hence for taking rtasonable steps forthe preventlon and detectlon ot fraud and ather IrregularftEes. INDEPENDENT EXAMINATtON The Trustees have ￿olVed to have an Independent e*aminatlon of the accounts for the year ended p March 2024 as oppDSEdtO an au&it as they conslder the flnancial savlngs In the best Interest of thè charlty. SMALL COMPANY EXEMPTION This report has been prepared in accordènce with the special pmvision5 for small companies vnder Part 15 of the Companies Act 2006. This report was approved by the Board of Trustee5 on ..17Jizl+., Signed . . Robln Youngj Chalrto the Board of Trustees INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF 60SPORT COMMUNITY ASSOCIATION LIMITED I report to the charlty trustees on my examination of the accounts of the tharitable Company for the year ended 31st March 2024 which are set out oli pages 6 to 19. Responsibilltl¢s and ba$15 of report As the chority tru5te@s of the charttable company land also Its dlrectots for the purposes of company lawl you are iesponslble for the PTeparatlon of the accounts In accordan￿ wlth the requlrements of the Companies Act 20061'the 2006 ACVI. Hovlng satlsflèd myself that the atcounts of the charltable company are not requlred to be audlted under Part 16 of the 2006 Act and are ellglble for Independent examlnatlon, I report In respect of my examlnation of your charltsble wmpany's accounts as carrled out under sertlon 145 of the Charltles Act 20111'the 2011 A￿1. In ¢arrylng out my examlnatlon I have followed the Directlons ulvèn by the Chgrlty Commlsslon under soct7on 14515l¢bl of the 2011 Act. Independ8nt ayamlner's stHtement I have completed my examlnatlon. I comftrm that no matters have come to my attentlon In ccnnecdon wlth the examination glvlng me cause to belleve that In any material respèct: accountlng record5were not keptin respett of the company a5 required by settion 386 ofthe 1006 Act. or the accourit5 do not accord wlth those record5," or the accounts do not comply wlth the accounting requiremerrts of sectton 386 of the 2006 Act other than any requirementthat the accounts glve a ￿rue and fair view, which 15 not a matter considered as partof an independent examination. or the accounts have not been prepared In accordancewlththe methods and prlnclple5 ofthe Statement of Recommended Practlce for accountlng and reportlng by charltles appllcable to charltles preparing thelr accounts In accordance with the Financial Reportlng Standard appllcable In the UK and Republic of Irelfind (FRS 102). I have no concerns and have come acruss no other matters in connectlon wlth the examinatlon to whlch attention Should be drdwn in this report In order to enable a proper understanding of the accounts to be reached. Swed,. James Blake FCA Dated: 11 for and on behalf of TC Group 3 Acorn Business Centre, Northarbour Road, Cosham, Portsmouth P06 3TH GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE CONSOLIDATED sfATEMENT OF FINANCIAL AcfiviTIES (INCORPORATINGTHE INCOME AND EXPENDMIRÈ ACCOUPIT) YEAR ENDED 31 MARCH 204 Restrlcted Funds 2024 Unrestrktsd Totsl Fu.nds Total Fund5 Fund& 2024 2a24 2023 INCOMEAND ENDOWMEIUS FROM: Donofjonsand legacles Tradlng ¥Thdfvndr81$lng èctlthlt)5 Invostm*fit Income CharitableathttSÈs 287 289•639 324 xxo,627 ts,2 289,639 124 120,627 699 2351850 345 124344 TOTAL 4114777 4Ali777 3631138 EXP5NDFYURE ON: Trading fvndr4151hg act[￿tieS ChÈrltableactfvMes 1641884 263*614 1641884 26&6x4 133,002 2401719 TOTAL 42￿498 4281498 3731721 NFf INCOMEJEXPENDITUREI 1161721) {144&31 OTFER RECQGNISEDGAINSI{LOSSESI Unroa115edgalAsll1055e¥ OD 0vo￿atrO￿of Inv&stment4S5tts 11442 11442 16121 NET MOVEMMIN FUNDS 51279) (15x279) (14ts95) RECONaLIATION OFFUNDS TotslfundSbrovghtfo￿ard 489•770 489,770 SOD,865 TiyfAL FIMDS CARRIEO FORWARD 4741491 4.74491 489,770 The Statementof Flnanclal Activltles inclvdes all gains and k¢sses recognlsed durfng the year. All ofthe above amounts relateto contirjuing actlvltle& The notas on pages itsto 19 form part of these flnancl81 statements. GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE CONSOLIDATED BALANCE SHEET YI MARCH 2024 1024 2023 Note FIXED ASSETS Tanylblè assets io 614169 64J921 6¥192 6141169 CURRENfASSETS Stocks Debtor5 Invesbnents Cash at bank 91786 71617 17A50 541994 81341 15ft707 731738 91547 1091462 CREDITORS.. Amouhtsfalllng due wlthin one yaar (611143) 149J391} NET CURRENT ASSETS 281404 6o*Q71 TOTAL ASSETS LESS CURREKf LIABILITIES 6421573 6741992 CREDITORS: Amounts falling due aftor morftthan one year (168,081) (17512221 PROVISIONS FOR LIABILITIE5 NET ASSETS 4741￿￿ 4891770 FUNIIS Restricted income fvnds Unrestricted Income fund5 474491 489*T/O TOTAL FUNDS 4741491 489.710 Thè notss on pages so t¢1 X9 form part of these flnanclal statements. G05PORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE CONSOUDATED BALANCE SHEET 31 MARCH 104 Fr)r the year ending 31st March 2024the Charltable company was entltl£d to exemptlon fmm audFt under Section 477 of the Companles Act 2006 relatlngto small companies. Trustees, respanslbifrtle* Themembers have not requlredthe companytoobtain an audltof Its accountsforthe year in que5tlon In accordance with 5ectlon 476. The trustee5 acknr)wledge thelr responsibllities for complylng wlth the requlrernents of the Act with respect to accountlng records and the preparatSon of accounts. The trusteÈg hwe prepared group accounts In atcordance with section 398 of the CcmpanSes Act 2006 and sertion 138 of the Charltles Att 2￿1. These accounts are prepared in accordance with the special provision5 Df Part 15 of the Companle5Act relatlngto Small companies and constitutethe annual accounts requlred bythe CompanlÈs Act 2006 and 4refor clrculatlon to members of the CDmpany. These flnanclHI statements weR approved by thetrustees on the....Trl!tl.4.............,. thelr behalf by. and are signed on Mr R Young Tru.4tee Company Reglstratlon Number o4J35420 The notss on pages￿ to 19 form part of those financlal statsments. GOSPORTCOMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE CHARITY BALANCE SHEET 31 MARCH 204 2024 2023 Note XED ASSETS Tanglble assets Investments io 6tsJ4> 612,6t)4 6121432 612,605 CURRENT ASSETS Debtors Investments Cash at bank 17iXS0 34*655 151707 351986 64943 721055 CREDITORS: Amountsfalliny dve within one year (47.436> (291511) NÉTCURRENT ASSETS Akn5Q7 4%1544 TOTAL AssEfs LÉSS CURRENT LIABILITIES 6261939 655,149 CREDITORS: Amounts falllng due after morè than one y&ar 4x5) (158,555) PROVISIONS FOR LIABILITIES NET ASSErs 1fr75i54 FUNDS Restritted Incomefunds Unrestricted Income funds 475.P4 496,594 495t594 TOTAL FUNDS 4751524 The trustees have prepared group accounts in accordance wlth section 398 of the Con)panles Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the speclal provi51ons of Partl5of the Companies Act relatingto Small companie5 and constitutethe annual acccunts requlred bythe Companies Act 2006 and are for circulation to members of the company. These financlal ststements were approved bythetnjstees on the ..rTr.h.z/.*.*.. . ..... behalf by: , and are signed on thelr Mr R Young Trustee Company Reglstration Number 04335420 The notes on pages 10 to 19fomi part of these financial statemehts. GOSPORT COMMUNITf ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2024 ACCOUNTING POLICIES General infom)4tion and basls of proparatlon Gosport Communlty Association is a company limited by guarantee reg15tered In England and Wales, the amount guaranteed1s.aL The address of the re9iS.tered office is given In the charity Information on p4ge i of tlie5e flnanclal statements. The nature of the charlty's operations and Pilnclpal att5vlties are set aut In the Trustee5 report on page5 1 to ¥ The flnanclal ststement5 havo beeFt prepared In accordance wlth Accountlng and Reportlng by Charltle5: Statement of Recommended Practice applicableto charltles preparlng thelr accounts In accordance wlth the Flnanctal ReportSng Standard applicable In the UK and Republi¢ of Ireland {FRS 102J- (Charlties SORP (FR5 ￿3}), the Flnandal Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102) and the CompanlesAct20o6. The chadtyhas applled Update BLJllelln i as publlshed on ? February 2w6 and doe5 not includ&a cashtlow steen deslgnated for other purp05e5, Deslgnated fund5 comprlse vnre5tr1cted funds that have been set aside b¥ the trustees for particular purposes. The alm and use of each designated fund Is set out in the note5 to the flnanclal statements. Restrlcted funds are fundswhlth are tt>be used In accordancewith speoflc restrlctions imp05ed by donors or whith have been ralsed by the charityforparticular purpos@s.The costof raisiny and odmlni5terlng such fvnds are charged against the speciftc fund. The airn and use of each rÈstrScted fund Is set out in the notes to the financlal statements. Endowment funds represent those assets whlch must be held permanently by the charlty, prfnclpally insert detail, income arlsing on the endowment fvnds can be used In accordance with the objects of the charlty and is inclvded as unrestrlcted Income. Any capital gains or1055e5 arising on the Investments form part of the fund. Investment management charges and legal advice rolating to the fund are charged agalnst the fund. -io- GOSPORT COMMUNITY ASSOCIATION COWIPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS MARCH 2024 ACCOUNTING POLICIES (¢ontinu¢d) Income recognitlon All Incomiryg resovrces are Included in the Staternent of Financlal Actlvltles (SOFA) when the charity is legally enutled to the lrtcome after any parformBnce condltlons have been mel the amount ean be rnea5vred rellably and it is probablethatthe Income wlll be recelved. For donations to be recognlsR4 the charlty wlll have been notlfled of the amounts and the settlement date In writlhgi If there are CDndFtlons attac.hed to the don&tlon and this requires a level of performance before entltlefflent can be obtoined then Incorne is deferred until those conditlons are fully met or the fulfllment of thDse conditfons Is wlthln the cantrol of the charity and It Is probablethBttheywlll be fulfilled. Donated fbgcllitle5 and donated professional servlces are recognlsed In lftcoyne at thelr falr value when thelr eeohQmi¢ benefit15 probable, it can be measured reli4blyand the chartty has c¢)ntrol overthe Item. Falrvaluo 15 determined on the basls of the value of the glvt to the charlty. For example the amount the charity would be willlng to poy In the open market for such facilltie5 and servlces. A corro$pondlng amount 1$ rècognlsed In expendlture, No amount15 Included In the flnancial statoments forvolunteertlme In Ilne wlth the SORP (FRS 102). Further detall15 gSven In the Tru5tees' Annu41 Report. Fixed asset glfts In kli)d are recognised when receivable and are included at fair value. They are not deferred ovBrthe life of the asset For legaLie5, ¢ntitlement 15 the earlier of thé charfty belng notlfied of an Impendln9 dlstributl¢n orthe legacy being recttlved. Atthis polnt Income is recogn15ed. On occaslon legacies wlll bE notifled td theLhority however tL15 not P055ible to mR8sure the amount expèctèd to be dlstrlbuted. On these occasions, the legacyls treated s a corTtingent a5S*t and disdosed. Income from trading activities incIL￿e5 incpme earned froFn fundralsing events and tradlng acilvltles undertaken through GCA Soc181 Club Llmited to ratse funds forthe chartty. Income is recotved In exchanga for supplying goods and soNices In orderto ratsethnds and Is rètognlsed when entitiebTrent has occurred. The charlty rec8lvos government grants In respect of rpd¢velopmont works. Income from govemment and other yrants are recognlsed at falr valije when the charlty has entftiement after any performan¢e condition5 have been me( It15 probable that the Income will be received anil the amount can be measured rellably. If entitlement Is not metthen the* amwnts are deferred, lrniestment Income15 eamed through holdlng assets for Investment purposes such as shares and property. It includes divldènds, Interest and rent. Where it is not practicable to identlfy investment rnanagement costs incurred withln a schemÈ with reè50nable accuracy the Investmtnt income 1$ reported net of these costs. It15 included whenthe amountcan be measured rell8bly. Interest Income is recogn15ed using the effectlve Interest methodand dlvldend and rent Income Is recognised asthe rharity's rlghtto receivepaymert is ertablished. Expenditure Mco9nltion All expendlture is accounted for on an accruals ba515 and has been dassified under headings that aggregate all costs related to the category, Expenditure 15 recogni5ed where there is a leg81 or constnjctive obllgatlon to make payments to thlrd parties, it is probable that the settlement will be required and the amount of tho obligation can be measured reliably. Irrecoverable VAT Is charged as an expense agalnstthe actlvlty forwhich expendlture arose. -li- GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTES TOTHE FINANCIAL STATEMENTS 31 MARCH 1024 ACCOUNTING POLICIES (¢ohtlnued) Support costs allocation Supportcosts are those thata5slsLthe work of tht charlty but do notdlrectly represent £haritsble actlvlties And Includ.e offl¢e_cost5, g¢vernan¢ocostStr and adminlstrative payroll costs. ThRy ar¢ incuried dSrectly in support of expefidltvre on the object5 of the charlty and Include project nlèriagernent carrlEd out at Headquarters, Where support costs cannot be dlrectly attrlbuted to Particular headings they have been allotatsd to C05t ralslhg funds and expendlture on cllarVcablÈ actlvlues on a ba$ls conslstent wtth use of the resourc Fvnd-rèlslng costs are those Incurred In seeklng voluntsry contrlbtJtlon5 and do not Include the costs of dlsgemlnatlng information in support of the charitable actlvltle5. Flxed assats The land and bulldln9s and fixtsire5 and fittings were profe551onally valued In December 1998 and the vahjatlon was adopted from thls date. Since the valuation datert purchased addltlons and, Improvements to tanglble f]xed assets have been capltallsed at C05t. Donated furniture and equlpment have been capltaltsed at the hlgher of the value in use to Gosport Community Association 6nd the net realisable value. Depredatlon Is pro￿￿Éd on all tanglble fixed 455ets at ratss calculatedto wrfte off the cost or valuation of the asset overthelrexpected useful economlc Ilves as follows: Freohold land FreRhold bulldings Furntture, fixtvrog and equipment Notdeprethted 1% Stt71ght Ilne 15-4oV0 Reducing balance Investments vestmeftts are recognised Inlttally at fair value whith Is normally the transaction prtce excluding transaction costs. Subsequentty, they hre measured at fair value wlth changes recognised in 'net gains I IIOs5es) on Investments, Ih the SOFA if the shares are publicty traded or thelrfalr value can otherwlse be measured rellably. Current asset Investhients are shorttenm highly tiquid Investments and are hèld at falr value. ThesE Includ@ cagh on deposlt and cash equlvalÉrlts with 8 maturity of lessthan oneyear. Investments In subsidiariesljoint ventures l associate5 are measured at C05t less impairment. Flnanclal Instrvment5 The tharlty only has flnancial assets and financlal IlabilÉties of a klnd that quallfy ag baslc financial Instruments. Baslc fin•n¢lal Instruments are Initially ￿tOgnISed at transactlon valve and subsequently meas(tred at their settlemei)t value with the exception of bank loans whlch are subsequently measured èt amortlsed cost uslng the effective interest method. Operatlng leage agreements Rentals applicable to operating lease5 where5ubstantially all of'thebenefrt5 and rigks of ownershlp remain with the lessorare chbrgedto the SOFA overthe period of the leasE. Pension £C￿ts The charfty operates a detlned contrtbutlon schemeforthe benefftof certrdln employees. The costs of the contrfibutionsore expensedto the SOFAln the yearthey are payable. -12- G05PORT COMMiINIIY ASS.OCIATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2024 ACCOUNTING POUCIES Icontlnued) Going concem The financlal resvlts ofthe tharlty have remained stsble follo￿ng a perfod of hlgh Inflatlon and contlnued recovery p05t-pandemic The trustees are aware of the continued impact of r151ng inflatlon as well as the incomlng changesto minimum wage annourtced In the October 204 budget. The trustees are confidentthatthe chgrlty should have sufflclent fvttd5to meets it5 obllgatlons as theyfall due. therefore the twstees expectthe charity to be able to conttnue to operate forthe foreseeabSe future 4nd contlnue to adopt the going Concern bas19 of accountlng in prepariny the financlal 5totements. INCOME FROM DONATIONS AND LEGACIES R8strfctsdfvnds Unrestricted 2024 fvnd$ 2024 2023 Donatlons Donatlons- Mlscellaneous Grantsr•celvable GCA Social Club Limlted-grants &287 2,699 s.z07 2,699 INCOME FROM TRADING AND FUNDRAISING AcfiviTIES 2023 Fundraisihg events Subscriptlons 51345 31633 Car park recelpts and pemiits Dlnner and dances Other events 42*0 431764 io 1,654 21484 1tr91967 49,061 Fundraisingtradlny GCA Soclal Clvb Llrnlted turnover (see note 12) 2391672 186,789 2351850 GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTES TOTHE FINANCIAL ￿ATEmENTs > MARCH 2024 INVESTMENT INCOME 2024 2023 Income fr614 Restritted Unrestrlcted 91025 1431518 88.iy6 2401719 -14- GOSPORT COMMUNITY ASSOCIATION COIAPANY LIMrfED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS 31 MARCH ao NFf INCOMINGI(OUTGOING>RESOURCES FOR THEYEAR Th1$15 stated after charglng: 2024 2023 Accuuntancy fees Inon-audlt services) Depreciatlon 1>970 6,817 131676 61713 STAFF COSTS AND EMOLUMENTS Total staff costs were as follows: X024 2023 Wage4 and531arfes Employer's Nat1onal Insurance cost Employer penslon cost 1861370 3,783 4125 1691228 31651 1,630 1911378 174,509 No trustees recelved ony remuneration or reimbursement of expen5e5 from the company durlng the curreDt or prevlovs year, Partl¢ulars of employees: The average number of employees during the year, Cdlcvlated on the basis of fvll-tlme equivalents, was asfollows (Na employee received emoluments >£60,0001- 2024 2023 No Number OF admlnlstrative staff Numberof barstaff Numberof other 5tfiff No employee recelved emoluments of more than £60000 during theyear(2023- 0). -15- GOSPORT COMMUNITY ASSOCIATION COMPANY UMITED BY GUARANTEE NOTES TD THE FINANCIAL STATEMENTS 31 MARCH 2024 TANG13LE RXED ASSETS FurDlture* Land and fixturRs and buildings equipment Group Total COST OR VALUATION AtIAprll 2023 Addltions Disposals At31 Marth 204 7031867 6,06.¥ 8601702 6,065 2094932 8661767 DEPRECIATION At i Aprll 2023 Cha¥ge in year D15posals At 31 MaKh 2024 61,388 21934 1841393 >883 245*781 6,817 6kn322 x88.276 35lt.598 NET BOOKVALUE At 3& March 3024 At y March 2Q23 5921513 64169 59&448 191474 61&922 Included wlthln Land and bulldingsls £3751115 relatlng to land whlch b not depreclated. Furnlbjro, Land and fiJrture$ and building5 equipment Total COSTOR VALUATION At i Aprll 1023 Addltions Di5P05015 At31 March 2024 1741176 6,065 831,011 6,065 1801241 8371076 DEPRECIATION AtIApril 2023 Charge In year Disposals Aty March 2024 611388 21934 1571019 31304 u81407 6,238 641322 1601323 NET BOOK VALUE At3x March 2424 At31 March 2023 5921513 191918 6121431 2,604 595,448 17,5 Included within Land and bulldlngs is £3751115 relating to land whlch Is not depreciated. -16- GOSPORT COMMUNITY ASSOCIATION COMPANY UMITED BY GUARATrlfEÉ NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 FIXED AssFf INVESTMENTS 2014 2023 Investment in GCA Soc¥al aub Llniited (see note 12) . TRADING AND FUNDRAISING ACTIVITIES- GCA SQCIAL CLUB LIMITED The thèrity owns the whole of the issued ordlnary share capltal of GCA Soriafciub Llmlted, a company registered In England. The subsldlary is Used for non-primary purpose tradlng activltles. All activlties have been con5011dated un a Ilne by Ilne basls In the SOFK The total net profit Is glfted tothe charlty. A Summary of the results of the subsidlary is ghown below: 204 2023 Tumover C05t of sales 391672 (159.46) 1861790 (126,905) 591885 Gros5 profit 801526 Other In£ome Admlnistratlve expenses Rent pald to charlty Interest rjn loan 41934 6ooop 804 41527 60,000 1,045 Netlncome foryear 1&78a {5,687) GIftAlddonation (9,000) 5t788 Retalned Income {5,687} The aggregatp ofthe a￿5, Ilablllties and fundswas: a024 2023 Tangible fixed assets Cvrrent a55et5 Current Ilabilities Amounts owed from I (to) the charlty m0n.cur￿nt liabllities 11739 30FI72 ts51544) 19iz66 (16,867) 46,137 12019691 (71641) {16,6671 Funds (representing one ordinary share of ll ear.h (11034) 16,8221 -17- GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL sfATEMENTS YEAR ENOED31 MARtH2024 13. DEBTORS Group ?024 Charlty 2023 2024 2ts23 Trade debturs VAT Amounts owed by group undertakings Prepayments and accrved Incorne 41502 8,795 4¥S02 568 8,795 1,088 7,641 2,831 3•115 3*068 Ik675 20A61 14, CURRENT ASSET INVESTMENT5 2a23 Other Investment5 171150 1517CJ7 The company's holdlng of £839.35 Income units in the Charlties Qfficial Investment Fund ha5 a market value at 31 March 2024 of ll1￿50 ￿preSentIng an Increase In value of £11443 over the prevlou5 year. Is. CREDIT(IRS: AmountsfallSng due wlthin one yelr Group 2024 Charity 2024 2013 2023 Bank loans and overdraft5 Trade creditor5 Other credltor5 Amounts owedtD yroup undertaklngs PAYE and social seujrlty Accruals and deferred tncome VAT 171261 251301 4057 16,-198 151739 5925 71262 6,798 619 4835 11440 194166 Ji735 91473 4234 911*73 41￿6 2R79 2,284 676 374 611143 491391 471436 29,511 I& CREDITORS: Amountsfalliny due after more than oné ￿)r Group Charity 2024 2024 2023 2023 Bank103ns repayable in the second tr> flfth year incluslve Bank loan5 repayable after more than 5 108,808 years Penslon comfftitments payable in the second to fifth year Inclu51ve Pen51on ¢ommltment5 payable after more than 5years 451714 43,860 291047 271193 1th,242 108.808 760 51760 51760 51760 71800 9.360 71800 9136 168,082 175,222 154415 1581555 The bank loan15 secvred on the Charity'sfreehuld land and buildlngs. -18- GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE NOTESTOThE NNANCIAL STATEMENTS YEAR ENDED 31 MARCH 3024 OPERATING LEASE COMMITMENT5 At3JSt March 2024thegrovp hèd aggregate annual cornmitments undernon-cancellableoperating leases as Set out below. Group Charlty 2024 2024 2023 2023 Opernting leases whlch explre: Wlthin i to 5 yedrs Withini year 360 360 360 360 360 360 360 360 -19- GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITEI) BY GUARANTEE NOTE5 TO THE FINANCIAL STATEMENTS YEAR ENDEL>31 MARCH 2024 The following pag¢5 do not form part of the ststutory financlal statsments which are the svbj•ct of the independent examlnatlon rept)rt on page 5. GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE DEfAILED NON.CONSOLIDATED sfATEMENf OF FINANCIAL ACTIv￿lEs OF THE CHARTrY YEAR ENDED J&MARCH2024 2024 2023 INCOME AND ENDOWMENTS FROM: DONATIONS AND LEGACIES Donations- GCA Soclal Club Limited Donations- MIS￿lIaneOuS 9,000 287 10,287 FUNDRAISING ACTIVITIES Car park r2celpts and permtts Dlnner and dances Otherevents Subscrlption5 lincludlng rent from GCASCI 42,018 120 431764 io 654 63,633 6&34S 091967 1091061 INVESTMENT INCOME Income from UK115ted irniestments Bank Interest receivable 345 345 CHARITABLE ACTIVITIES RDOM hlre and caterlng Further éducatlon fees 1201469 158 12ty627 1241190 1241344 TOTAL INCOME 241,i05 2361449 EXPENDITURE ON: RAISING FUNDS Event and danco costs 525 525 CHARITABLE ACTivrriES rertexpendlture Equlpment repalrs Other professlonal fee5 Caterfng supplles and equipment HI￿ of equipment Llcences and subscrlptions Otherdlrect expenses Further educatlon tutor fees & expenses 345 200 240 51539 21901 290 44729 9102S -21- GOSPORT COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE DETAILED NON4ONSOLIDATED sfATEMENT OF FINANCIAL AcrivmES OF THE CHARITY YEAR ENDED 31 MARCH 2024 2023 Occup4ncyandsupport Wages and salarles Llght and heat aeanlng Rate5, water and refuse removal Insurance Propérty repairs Depreclatlon of bvlldings and content5 811709 261962 1.553 241471 2,717 10,526 lQia92 101993 51941 131367 231.330 1621942 I431￿8 Administration Wages and 5alarles AccountsTICy Atjdltfees TÈlepht)ne and postage Other office expehses Software, ststlonary and photacopylng Security expenses Bankthar9esand bankloan interest Advert151ng Travel 52.7lS 31970 50,825 131420 5J753 21962 5,516 211 5rt378 151034 43 121131 534 951943 881176 2401719 TOTALEXPENDITURE z631 241,21+4 NET INCOME I (EXPENDITURE> (2?￿09) 141795) -22-