Company gIstratIOn number: 01710313 Charty registration number: 1093601 Doddington & Rollo Community Association (A company limited by guarantee) Annual Report and Flnancial Statements for the Year Ended 31 March 2024 Innovi Advisors Ltd Chartered Certified Accountants & Statutory Auditor 163 Herne Hill London SE24 9LR
Doddington & Rollo Communlty Assoclation Contents Report of the Trustees 1 to5 Independent Examinevs Report Statement of Financlal A[vItieS 7t08 Statement of Financial Position Notes to the Financial Statements 10t015 Detailed Statement of Flnanclal Activities 16to17
Doddington & Rollo Community Association Report of the Trustees The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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) (effective 1 January 2019). Objectives and actlvltles Objects and alms The Community Association is established to promote, in north Battersea in general, and the Doddington and Rollo Estates (hereafter referred to as DRCA) in particular, opportunities for employment and job creation to encourage education and training and to provide in those areas. facilities for recreation and community activities. The Community Association supports local community groups by offering subsidised spacè for meetings and activitl8s, and continues to fulfil its charitsble aims and objectives by providing subsidies to the charltable, voluntary, community and faith based organlsations that have premises at DRCA. DRCA also fundraises in order to provide activities and events for local children and famllles. The trustees confirm that they have referred to the guidance contained In the Charity Commission's general guidance on public benefit when reviewing the charlty's aims and objectives and in planning future activities. Flnancial Review Principal funding source8 The Community Association obtains its Income malnly from sub-lettlng managed workspace and storage units to members of the community. Resorvos pollcy The everyday running costs of the charity are funded by Income received frorn the rental of the business units. One off major expenditure will be budgeted for, and only undertaken when funds are available. The trustees have maintained the same level of reserves as in the previous year to cover any unexpected expenses. Page 1
Doddlngton & Rollo Community Assoclatlon R8POrt of the Trustees Reference and Administrative Details Charity Registration Number: 1093601 Company Registration Number: 01710313 Registered Office.. 33 DRCA Office Charlotte Despard Avenue Battersea London SW115JE Independent Examlner: Innovi Advisors Ltd Chartered Certified Accountants & Statutory Audltor 163 Herne Hlll London SE24 9LR Pdge 2
Doddington & Rollo Community Association Report of the Trustees Trusteos and officers The trustees and officers serving during the year and since the year end were as follows: Trustees: J C Connell JPCSpink A Balzama S Kapundu D J Mcewan J Saddler A Mumunie A Salmon E Oddono S Slmsek A Hall C Cralg JFLee H Hagos Chairman: J C Connell Page 3
Doddington & Rollo Community Association Report of the Trustees Structure. governance and managemant Nature of governing document The charitable company is constituted as a company limlted by guarantee, and is therefore governed by its Memorandum and Articles of Association. It registered as a Gharity on 30th August 2002. registration no. 1093601. Rocrultment and appolntment of trustees Membership is restricted to people who live or work on the Doddington and Rollo Estates and trustees are elected by the members at each Annual General Meeting to serve until the next Annual General Meeting. Beleen Annual Gen8ral Meetings, the management committee has power to appoint further members to fill casual vacancies that arise. They can also co-opt up to four further members at any time, subject to approval of the next General Meeting following their appointment. The Tnembership of the Management Committee shall not be less than five nor more than thirty three. Elections to the Management Committee shall be conducted according to the principles set out In article 54. The Management Committee shall appoint from within themselves, the officers of the Community Association, to include a chairperson. vice-chairperson, honorary secretary, honorary treasurer and mlnute secretary, Page 4
Doddington & Rollo Community Association Report of the Trustees Revlew of Business The financial year brought significant challenges, including serious issues with a senior staff member that had a substantial impact on the organisation. In response, the trustees hava worked diligently to enhance governance, strengthen financial oversight, and improve operational efficiency, ensuring the charity's long-term sustainability. A key focus during this period has been reducing arrears among business unit leaseholders and implementing 2 standardised approach to debt management. A new debt repayment policy has been introduced and successfully enforced. improving financial stability. Additionally, we have formalised the hiring policies for our facilities and equipment, ensuring transparency and fairness for all user groups. While further work remains, these measures have contributed to a more stable and resilient organisation. We contlnue to support a diverse range of creatlve mlcro-businesses and trades through our affordable licensing model, which provides significant relief frorn the high rental costs prevalent in London. Our business units support small enterprises in industries such as music production, curtain-making, upholstery, hairdressing, organic beauty care, instrument-making, carpentry, and catering. In alignment with our charitable objectives, the DRCA provides substantial subsidies to charitable and voluntary sector organisations, community groups, and faith-based initiatives. The estimated direct subsidy for this financial year is £66,680. reflecting the significantly reduced licence fees offered to charities operating from our premises and the discounted rates provided for community groups and faith organisations using our halls and community spaces. Our facilities host a wide range of activities. including yoga, exercise classes, therapy sessions, mental health and physical health initiatives, and community engagement programmes. The Trustees remain committed to ensurlng the DRCA'S continued growth and Impact In the community, strengthening financial sustainability while maintaining our mission to support local businesses and community groups. The annual report was approved by the trustees of the charity on behalf by: 28 and signed on Its C Connell hairman an ustee Page 5
Doddington & Rollo Community Association Independent Examiner's Report to the trustees of Doddington & Rollo Community Association ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibllltle8 and basls of report As the charity's trustees of the 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 Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 {'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5}(b) of the 2011 Act. Independent examiner'8 Statement Since the Company's gross income exceeded £250,000 your examiner must be a member of a body lisled in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examlnation because l am a member of ACCA, whlch Is one of the listed bodies. I have completed my examlnation. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of Doddington & Rollo Cornmunity Association as required by section 386 of the 2006 Act., or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the accounting requlrements of section 396 of the 2006 Act other than any requirement that Ihe accounts give a 'true and fair view, which is not a matter considered as part of an independent examination,. or 4. the aOUnts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accountlng 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)]. I 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. Sheetal Shah FCCA Charlered Certified Accountants & Statutory Auditor ALLA 163 Heme Hill London SE24 9LR Date.. 28 March 2025 Page 6
Doddlngton & Rollo Communlty Association Statement of Flnancial Activities for the Year Ended 31 March 2024 (Includlng Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2024 Note Income and Endowrnents from: Donations and legacies Other trading activities Investment income 24,568 24.568 231,479 115 231,479 115 Total income 231,594 24,568 256.162 Expondlture on: Raising funds Charitable activities Other expenditure (234,020) (234,020} (17,868) g,816 (17,868) 8,700 3,116 Totsl expenditu 237136 24,568 261.704 Net expendlture 5,542 5,542 Net movement In funds (5,542) {5,542) Reconclllation of fund8 Total funds brought fomard 75,537 75.537 Total funds carried forward 69,995 69.995 The notes on pages 10 to 15 form an integral part of these financial statements. Page 7
Doddlngton & Rollo Community Associatlon Statement of Flnancial Actlvities for the Year Ended 31 March 2024 (Including Income and Expendlture Account and Statement of Total Recognised Gains and Losses) Unrestricted fund8 Rostri¢ted funds Total 2023 Nota Income and Endowments from: Donations and legacies Other trading activities Investment income 20,695 20,695 283.054 152 283,054 152 Total Income 283,206 20,695 Expendlture on: Raising funds Charitable activltles Other expenditure (285,197) (285,197) (20,695) (20,695) Total expenditure 287,885 20,695 308,580 Net expenditure Net movement in funds (4,679) (4.679) R•conclllation of funds Total funds brought forward Total funds carried forward 11 75,537 75,537 The notes on pages 10 to 15 form an integral part of these financial statements. Page 8
Doddington & Rollo Community Association (Registration number: 01710313) Statement of Financial Position as at 31 March 2024 2024 2023 Note Fixed asset8 Tangible assets 971 1.726 Curront assets Debtors Cash at bank and in hand 126,204 33,570 159,774 171,307 63,444 234,751 Credltors: Amounts falllng dua wlthin one year Net current assets 10 90,750 160.940 6g,024 73,811 Net assets 69,g95 75,537 Funds of the charity: Unrestricted Income funds Unrestricted funds 69,995 75.537 Total funds 11 69,995 75.537 For the financial year ending 31 March 2024 the charity was entitled to ex&mption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 accordance with Section 476 of the Companies Act 2006. Trustees, responsibilities.. ensuring that the charltable company keeps accounting records that comply wlth Sectlons 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitsble company. These financial stat8ments have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements on pages 7 to 15 were approved by the trustees, and authorised for issue on 2&1D5114 and signed on their half by: Chairman an trustee The notes on p es 10 to 15 form an integral part of these financial statements. Page 9
Doddlngton & Rollo Community Association Notes to the Financial Statements for the Year Ended 31 March 2024 l Accounting policies Statement of compliance The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have bean prepared under the historical cost convention. Basls of preparatlon Doddington & Rollo Communlty Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounling policy notes. Income All income is recognised onc6 the charlty has entitlement to the income, it Is probable that the income will be received and the amount of the income receivable can be measured reliably. Expenditure Li8bilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlernent and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Charitable actlvltles Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Tangibl• flxed assets Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation and amortlsatlon Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates Asset class Improvements to property Plant and machinery Depreclatlon method and rate Over length of lease 20 % on cost Page 10
Doddington & Rollo Community Associatlon Notes to tha Financial Statements for the Year Ended 31 March 2024 Computer equipment Fixtures & fittings 200/0 on cost 200/0 on cost Assets held under finance leases are depreciated in the same way as owned assets. At each statement of financial position date, the company reviews Ihe carrying amount of its tangible fixed assets to determine whelher there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is eslimated in order to determine the extent of the impairment loss. if any. Where it is not possible to estimate the coverable amount of the asset. the company estlmates the recoverable amount of the cash-generating unit to which the asset belongs. Taxatlon The charity is exempt from corporatlon tax on its charitable actlvltles, Fund accountlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restrlcted purposes within the objects of the Charlty. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Restricted income funds are those donated for use In a particular area or for speclfic purposes, the use of which is restricted to that area or purpose. P•n81ons and othèr post retlroment obllgations The charitable company operates a defined contribution penslon scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activitles in the period to which they relate. The charitable company operates a defined contrlbution pension scheme. Contributions are payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate, Currency The financial statements are prepared in sterling which is also the functional currency of the company and rounded to the nearest pound. Pagc11
Doddington & Rollo Community Associatlon Notes to the Financial Statements for the Year Ended 31 March 2024 2 Other trading activitles Unrestrlctod funds General Total fund8 Total 2023 Trading income. Rents received in furtherance of charitable activities Events income,. Other events income Administration charges 155,587 155,587 218,792 74,261 1.631 231,479 74,261 63,763 499 283,054 231.479 3 Investmont Income Unr•strlcted funds General Total 2024 Total 2023 Deposit account interest 115 115 152 4 Net incomlngloutgoing resources Net outgoing resources for the year include.. 2024 2023 Depreciation of fixed assets 755 754 5 Trustees r6mun•ratlon and axpensos There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. Page 12
Doddlngton & Rollo Community Association Notes to the Financial Statements for the Year Ended 31 March 2024 6 SubsIdis Rent Contribution As part of our charitable mission, we provide rental space to community groups and registered charities at below-market rates. This subsidy supports organisations that align with our objectives of community development and social impact. For the financial year ended 31 March 2024, we received a total of £155,587 in rental income. Based on markel rental rates, Ihe estimated full market value of these units is £222,267, resulting in a total subsidy contribution of £66,680. This represents a 300/0 discount provided to our tenants. This subsidy reflects our commitment to enabling community-focused initiatives. ensuring that vrtal social, educational, and charltable services remain a¢SsIble and sustainable within our local area. 7 Staff costs The average monthly number of employees during the year was as follows.. 2024 No 2023 No Adminlstrative Support No employee received emoluments of more than £60,000 during the year. 8 Tangible flxed assets Improvements Flxtur•s and to property fittings Computor equipment Plant and machinary Total Cost At 1 Aprll 2023 59,639 5.355 198,817 270,642 At 31 March 2024 59,639 6,831 5,355 198,817 270,642 Depreclatlon At 1 April 2023 Charge for the year 59,639 6,372 4,088 198,817 268,916 224 531 755 t 31 Maroli ?O?d (5,syu 198.817 209.8T I Net book valuo At 31 March 2024 235 736 971 At 31 March 2023 459 1,267 1.726 Pago13
Doddington & Rollo Community Association Notes to the Financial Statements for the Year Ended 31 March 2024 9 Debtors 2024 2023 Trade debtors Prepayments 124,195 2,009 126,204 169,432 1.875 171,307 10 Creditors: amounts falllng due wlthin one year 2024 2023 Trade creditors Other taxation and social security Other creditors Accruals 50,116 9,419 29,055 2,160 90,750 131,587 1,533 25,990 1,830 160,940 11 Movement in funds Balanco at I Aprll 2023 Incomlng resources Resources expended Balance at 31 March 2024 Unrestrlctod fund8 General 75,537 231,594 (237,136) 69,995 R•8trlctod fund8 24,568 24,568 Total funds 75,537 Balance at 1 Aprll 2022 256,162 Incoming resources 261,704 Rosources oxponded 69,995 Balance at 31 March 2023 Unrostri¢ted funds General 80,216 283,206 (287,885) 75,537 Restrlcted funds 20,695 Total funds 80,216 303,901 308,580 75,537 12 Relatad party transactlons There were no related party transactions for the year ended 31 March 2024. Page 14
Doddington & Rollo Community Associatlon Notes to the Financial Statements for the Year Ended 31 March 2024 13 Operatlng lease commitmont8 Total fvture minimum lease payments under non-cancellable operating leases are as follows.. 2024 2023 Within one year 14 Exceptional Items 88,614 88,614 Nature of Exceptional Items.. During the financial year ended 31 March 2024, the charity made a net exceptional income amounting to £26,005. These items are detailed below: 1 } Fraud and theft: The charity became a victim of major fraud event committed by a past employee during the financial year, resulting in costs of £55,847. 2) Trade payables wrltten off.. Due to a substantlal wrlting off of the payable amount of certain liabllitles, the company recognized an income of totalling £81,852. During the examlnation these were found to be the duplicate bills recorded In the past year(s}. Impact on Financlal Statements.. These exceptional items have been separ8tely disclosed in the detailed statement of the financial activities to provide clarity and transparency regarding their impact on the charity's financial performance. The total exceptional items amount to £26,005, which has significantly affected the financial activitl8S. Post Balance Sheet Evont - Flnanclal Irregularlty Following the year-end, the charity identlfied a case of teaming and lading involvlng the mlsallocation of incoming payments. Immediate action was taken to investigate and address the issue, The Trustees have since strengthened internal financial controls, enhanced oversight procedures, and improved staff training. The impact on the year-end financial statements has been identified and adjusted for in these accounts. and the risk of recurrence has been significantly reduced. Page 15
Doddington & Rollo Community Associatlon Detailed Statement of Financial Activlties for tha Yaar Ended 31 March 2024 Total 2024 Total 2023 Donations and legacles Grants 24,568 24,568 20,695 20.695 Other tradlng actlvlties License fees Hall hire Storage fees Electricity recharge Heating recharge Administration charges 155,587 24,710 29,863 13.981 5,707 1,631 231,479 218,792 16,120 27,291 12,815 7,737 499 283,054 Investment Income Bank interest received 115 115 152 152 Ralslng funds Staff NIC (Employers) Staff pensions Trade subscriptions Equipment hire Sundry expenses Cleaning Accountancy fees Consultancy fees Legal and professlonal fees Bad debts written off Bank charges Depreciation of fixtures and fittings Depreciation of office equipment Wages and salaries Rent and rates Light, heat and power Insurance Repairs and maintenance General expenses Telephone and fax Computer sthare and maintenance costs Printing, postage and stationery (2,903) (1.849) (229) (3,108) (139) (20,570) (2,160) (2,770) (758) (13,534) {585) (224) (531) (75,963) {75,256) (29,828) (4,771) (10,933) (1.221) (1.357) (380) {10.956) (12,870) (1,865) (156) (16,678) (1,830) (105) (9,681) (546) (223) {531) (73,900) (77,745) (52,932) (4.917) (24,087) (2,047) (114) {4.970) This page does not form part of the statutory financial statements. Page 16
Doddington & Rollo Community Association Detailed Statement of Financial Activltles for the Year Ended 31 March 2024 Total 2024 Total 2023 Other exceptlonal items 26,005 234.020 285,197 Charftable actlvltles Rent and rates 17,868) 17,868 20.695) 20.695 Other expondlture Other sundry expenses Systems maintenance (6,700) 3,116 9,816 2.688 2,688 This page does not fortn part of the statutory financial statements. Page 17