**Charity Registration No. 1097305**
**Company Registration No. 03825493 (England and Wales)**
## **WIMBLEDON COMMUNITY ASSOCIATION**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
## **WIMBLEDON COMMUNITY ASSOCIATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mr D Hall Ms J M Burrett Mrs J Chapman (Appointed 26 November 2020) **Secretary** Mrs J Chapman **Charity number** 1097305 **Company number** 03825493 **Principal address** c/o 66 Kings Road Wimbledon London SW19 8QW **Registered office** St Christopher House Tabor Grove Wimbledon London SW19 4EX **Independent examiner** Frances Wilde FCCA DChA Warner Wilde Chartered Certified Accountants 4 Marigold Drive Bisley Surrey GU24 9SF **Bankers** NatWest PLC - Wimbledon 16 Wimbledon Hill Road Wimbledon London SW19 7NN Santander - Bootle Bootle Merseyside L30 4GB
**Solicitors** Gregsons Solicitors St Christopher House Tabor Grove Wimbledon London SW19 4EX
## **WIMBLEDON COMMUNITY ASSOCIATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6 - 7|
|Notes to the financial statements|8 - 14|
## **WIMBLEDON COMMUNITY ASSOCIATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
The trustees present their report and financial statements for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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 activities**
Following the closure of the St Georges Road community centre in 2012 and subsequent transfer of its interest in the site in June 2013 the WCA has been unable to directly provide physical community facilities. Following a wide ranging consultation, the trustees launched a new website, Wimblecomm, in September 2016 to support the provision of community space and promote community activities. This was refocussed towards supporting the organisations and providing helpful information and positive stories as a consequence of the Covid 19 lockdown in March 2020. We have extended membership to a new category of community groups in 2021.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the WCA should undertake.
The trustees are mindful of keeping the mix heavily in favour of public benefit and are focussed on supporting the provision of new facilities to meet those aims. Among the objectives of community users are health, education, sporting, arts, social and self-help.
## **Achievements and performance**
The impact of Covid 19 and lockdown had an impact on our charity in 2020/21 as it did on so many organisations. Inevitably there was a significant reduction in on line enquiries through our site during lockdown but we used the time to keep the staff fully occupied running virtual webinars and Connect meetings via Zoom, advertising other online events and posting articles with inspiring stories about how people and organisations were dealing with this very difficult period. We also started posting videos on site via YouTube and this has been extended into our programme for the 75th Anniversary. Our online social media presence (particularly Twitter and Instagram) also continues to expand.
We are pleased to report that the number of enquiries for community space has increased since things have opened up in recent months. It is now higher than the pre lockdown period and leapt significantly in September 2021. The new community group category introduced earlier in 2021 has attracted a number of new members and continues to develop.
The trustees believe that this is a constructive way with which to promote community facilities in the area and
maintain its previous legacy.
The WCA was previously able to facilitate major work with a number of groups before the closure of the old centre. Groups which it has previously supported include the following: adults with learning difficulties; homeopathic clinics; martial arts; drama; music appreciation, current affairs and art for older people; WAAFA; Scottish dance; alcoholics anonymous; drink awareness courses; cultural groups; athletics, football and Korfball clubs; flower club; women's groups; choir practice; English language courses for overseas students; blood donor sessions; local electoral services; fetes; residents associations; Urdu language and poetry; wedding and other receptions; first aid courses; animal welfare; ramblers; Bridge; Pythagoreans; flag days; and Zumba exercise gatherings. The WCA is seeking to ensure that it continues to support the provision of facilities for as many of these groups as possible via Wimblecomm.
- 1 -
## **WIMBLEDON COMMUNITY ASSOCIATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **Financial review**
Since the closure of the St Georges Road centre in 2012 and the disposal of its interest to Merton Council in 2013, the WCA has supported itself through an investment of a large proportion of its funds (£600,000) in the CCLA. The fund value increased from £708,000 in March 2020 to £854,000 in March 2021 and was valued at £917,000 in June 2021.
The fund also generated a dividend of around £24,900 in 2020/21. Total costs in 2020/21 were around £44,500 but there was an overall surplus due to the significant increase in our capital funds.
Our business plan model assumes that we will be able to continue supporting the extra costs from our cash reserves and capital growth over the next 4 years. Since last year we have started to explore ways in which we can increase our cash reserves to avoid drawing on our capital funds and have introduced various targets in 2021/22 and beyond, for paid adverts, membership fees and events income.
## **Plans for the future**
With Wimblecomm having now been in operation for more than five years, the WCA will look to further develop its on-line presence via Wimblecomm extending our membership (particularly now to community groups) and promoting and writing about events and activities taking place across our communities in Merton. We continue to explore various options including working more closely with Merton Council as well as other ways of monetising our service.
During 2021/22, the WCA is celebrating its 75 th anniversary. We launched our 75 stories initiative telling stories about how the charity has brought people together over the last 75 years since its inception in 1946. We will go into more detail about that in next year’s report.
Bill Lake stood down in November 2020 and was replaced by the WCA Secretary, Jackie Chapman. Our thanks to Bill for his significant input over the last seven years. The trustees are keen to add to their number and are actively looking for new trustees to ensure a succession policy is in place for the future.
As part of our future plans, we will also be looking to update our constitution as necessary.
## **Structure, governance and management**
The Wimbledon Community Association (WCA) is a company limited by guarantee.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr D Hall Mr W Lake (Resigned 26 November 2020) Ms S Sostero (Resigned 21 April 2020) Ms J M Burrett Mrs J Chapman (Appointed 26 November 2020)
Trustees are appointed by the existing trustees.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £25 in the event of a winding up.
- 2 -
WIMBLEDON COMMUNITY ASSOCIATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AIARCH 2021
TnMt••
WIMBLEDON COMMUNITY ASSOCIATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF mBLEDoN COMMUNITY ASSOCIATION
I rew)rt to the tru8tee8 on my &xomlnallon of thè 1kn8rthi slataments of Wimbledon commtyA5xsolloTh
(the chadtyl fly th6 year erKled 31 March 2021.
R•sponslbllltle8 and ba•18 of r•port
As the trustees of the charlty land also its direL*ors for th& wrposes of company lawl you ar8 responsible
for the preparation of tho financ4818tstements In oc<¢rdanc• thg rtyulr9mts of the Companies Act
2006 {tho 2006 Act).
Havlng Sallsfied myseff that the finandal 8tat8ments of tha dHrity ar8 rw4u1A to be audited urHl8r Part
16 of tha 2006 Act and are ellglblè for independent exarninatlon. I report In respect of my amInatIOn of the
charfty's fin8n¢lal statements ¢2rritd out ur¥J¥r sedlon 145 of tho chatieS Ad 2011 (tho 2011 Act). In
carying out my examlnation I have folbowed all tho applicab Directions givan by th8 Charity CommS$$lon
und8r Sodon 14515Xbl ofth• 2011 Act
An examlnatlon Indudes a reeW of tho accounting records kept by charity arHI a rxjmparlson of th8
accounts presontgd ¥th those records. It al80 IrUdaS conshder8tk of any unu8ual ttams or dl8closur¢$ In
tha accounts, and Seoklng gxplanatSons from th8 trustees c£Cem1j any such mattors. The PTocedur88
undertakan do not provNJe all the ovujgnce that woukj be requir•J in an audit. and conseqwntty no opinlon
Is glven a8 to vthother the amiunts PronI a Inje and lalr. voew and the r8POrt Is limlt8d to th060 m8ttor8
$81 out In the 8tatem?nt
Ind•p•nd•nt •x•mln•rf• •t•t•ffl•nt
I haw complelod my 0xann8tt. l confinn that no mattorn have (x)ma to my dttenllon In c>)nngdon w6th
the oxamlnotion gfjng me Cau80 to lIva that In any materlal re8cL
8¢counling rocc*d$ V+WO not kept In re¥& of the c*arlty a8 wulrwj by sectbon 386 of the 2006 Ad;
or
th8 flnandal 8tat6mènts do nol acroryl vAth th08e [dI. or
the finanrA818tatom•nls do not compty with the alxwnting roqulrem8nt8 of 8ection 396 of th8 2006 Act
Othgr than any requlremenl that tho 8xounts give a truo and falr vlow whlch Is not a matter ¢onsld•red
88 part of an Indop8ndent examinatth.. or
tho ffnancial slatements have rKJl begn prepared in aco)rdBnr* wlth the methods and prfn¢lples of th
Slatsmant of Rocommended Practke for ac¢ounlng and rewting by charfJ•$ appllcoble lo Cha1188
prapartng Ihelr acc¥)unts thè Flnandal Rgwurvj SlaTrJaTd applkatk In tho UK and
Rgpubllc of keland {FRS 1021.
I have no CXJncem8 and havg come rOSS other matters In neon wAth the examlnatlon to vthlch
attantknn should be drawn In this report In OOr to enable a prow underslandlng of the financkql stslem8nt8
lo bo rea¢h8d.
Franca6 Wllde FCCA DChA
Wamer Wilde
Chartered Certified Ac£¢untsnts
4 Marigc4d Drive
Bisley
Surr8y
GU24 9SF
- lozl
## **WIMBLEDON COMMUNITY ASSOCIATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2021**_
|||**Unrestricted**|Unrestricted|
|---|---|---|---|
|||**funds**|funds|
|||**2021**|2020|
||**Notes**|
**£**|**£**|
|**Income from:**||||
|Investments|**3**|25,007|24,655|
|**Expenditure on:**||||
|Raising funds|**4**|1,684|940|
|Charitable activities|**5**|42,805|47,385|
|**Total resources expended**||44,489|48,325|
|Net gains/(losses) on investments|**9**|146,209|(23,136)|
|**Net movement in funds**||126,727|(46,806)|
|Fund balances at 1 April 2020||811,946|858,752|
|**Fund balances at 31 March 2021**||938,673|811,946|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 5 -
## **WIMBLEDON COMMUNITY ASSOCIATION**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2021**_
|**Notes**
**Fixed assets**
Tangible assets
**10**
Investments
**11**
**Current assets**
Debtors
**12**
Investments
**13**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**14**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds
General unrestricted funds
Revaluation reserve|**2021**
**£**
382
58,675
27,753
86,810
(1,883)
684,927
253,746|**£**
-
853,746
853,746
84,927
938,673
938,673
938,673|**2020**
**£**
202
58,675
46,252
105,129
(926)
704,409
107,537|**£**
206
707,537
707,743
104,203
811,946
811,946
811,946|
|---|---|---|---|---|
- 6 -
WIMBLEDON COMMUNITY ASSOCIATION
BALANCE SHEET (CONTINUED)
AS Af Ji IAARCH 2021
20Z1
202•
kl 2fiX, y•w 31 Ilwth 2021.
•t•l• of ol th• oynpwty M •1 th• of tr* tr••1 yw of •tsO •Fs*thn ol
**WIMBLEDON COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
## **Charity information**
Wimbledon Community Association is a private company limited by guarantee incorporated in England and Wales. The registered office is St Christopher House, Tabor Grove, Wimbledon, London, SW19 4EX.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 8 -
## **WIMBLEDON COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.
## **1.8 Impairment of fixed assets**
- At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.10 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at the cash or other consideration expected to be received and not discounted. Financial assets classified as receivable within one year are not amortised.
- 9 -
**WIMBLEDON COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities a re initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amorti sed. They are subsequently carried at the cash or other consideration expected to be paid and not discounted.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at at the cash or other consideration expected to be paid and not discounted .
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.11 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.12 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Investments**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Income from listed investments|24,937|24,446|
|Interest receivable|70|209|
||25,007|24,655|
- 10 -
## **WIMBLEDON COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **4 Raising funds**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Fundraising and publicity|||
|Other fundraising costs|1,684|940|
||1,684|940|
|**Charitable activities**|||
||**2021**|**2020**|
||**£**|**£**|
|Share of support costs (see note 6)|41,853|46,551|
|Share of governance costs (see note 6)|952|834|
||42,805|47,385|
## **5 Charitable activities**
- 11 -
## **WIMBLEDON COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **6 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Staff costs
17,726
-
Depreciation
206
-
Storage costs
2,674
-
Bank charges
90
-
Website and internet
costs
4,065
-
S undry office and other
costs
860
-
Insurance
405
-
Su bcontract staff
15,827
-
Independent Examiner's
fees
-
735
Other g overnance costs
-
217
41,853
952
Analysed between
Charitable activities
41,853
952|**2021**
Support
costs
Governance
costs
**£**
£
£
17,726
17,032
-
206
207
-
2,674
2,549
-
90
90
-
4,065
6,314
-
860
723
-
405
402
-
15,827
19,234
-
735
-
720
217
-
114
42,805
46,551
834
42,805
46,551
834|2020
£
17,032
207
2,549
90
6,314
723
402
19,234
720
114
47,385
47,385|
|---|---|---|
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration during the year, none of them were reimbursed expenses.
## **8 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
||**2021**|**2020**|
|---|---|---|
||**Number**|**Number**|
||1|1|
|**Employment costs**|**2021**|**2020**|
||**£**|**£**|
|Wages and salaries|17,392|16,720|
|Other pension costs|334|312|
||17,726|17,032|
The Charity employs one part time member of staff equivalent to 0.6 of a full time employee.
- 12 -
## **WIMBLEDON COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
## **9 Net gains/(losses) on investments**
|||**Unrestricted**|Unrestricted|
|---|---|---|---|
|||**funds**|funds|
|||**2021**|2020|
|||**£**|£|
||Revaluation of investments|146,209|(23,136)|
|**10**|**Tangible fixed assets**|||
||||**Computers**|
||||**£**|
||**Cost**|||
||At 1 April 2020||1,032|
||At 31 March 2021||1,032|
||**Depreciation and impairment**|||
||At 1 April 2020||826|
||Depreciation charged in the year||206|
||At 31 March 2021||1,032|
||**Carrying amount**|||
||At 31 March 2020||206|
WCA was entitled to 1/3 of the proceeds on disposal of the community centre building situated at 28 St George Road, Wimbledon. Negotiations with the London Borough of Merton were concluded in June 2013 following an independent valuation, and a payment of £816,667 less cost deductions was paid to WCA for its interest in the property.
## **11 Fixed asset investments**
||**L isted**|
|---|---|
||**investments**|
||**£**|
|**Cost or valuation**||
|At 1 April 2020|707,537|
|Valuation changes|146,209|
|At 31 March 2021|853,746|
|**Carrying amount**||
|At 31 March 2021|853,746|
|At 31 March 2020|707,537|
- 13 -
## **WIMBLEDON COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_
|**11**
**Fixed asset investments**
**12**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income
**13**
**Current asset investments**
Unlisted investments
**14**
**Creditors: amounts falling due within one year**
Other taxation and social security
Accruals and deferred income|**(Continued)**
**2021**
**2020**
**£**
**£**
382
202
**2021**
**2020**
**£**
**£**
58,675
58,675
**2021**
**2020**
**£**
**£**
160
147
1,723
779
1,883
926|
|---|---|
## **15 Related party transactions**
There were no disclosable related party transactions during the year (2020 - none).
- 14 -