Company Registration Number: 04243893 Charity Registration Number: 1098284 Worthing Community Prtnershrp Compny Limited by Cuarantee Unsudited Financial St2teweDts 30 JuDe 2024 4AE2114E9T 0710512025 CCWAPANIES HOUSE
Worthing Community Partnership Company Limil¢d by Guwrnnlee Flrtaty¢il Statements Year Ended 30 June 21n4 Pages T[eeS Annual ReFrf)rt{lncorplTh8 the Dir¢¢tor'$ Rep)rt) 3to6 IndepeIent Examin¢r'5 Report to the Truee5 Stht¢ment of Financial Aciivities ([luding Income and Expenditure Account) S¢Jt¢ment of Financial Posilion 91010 Notcs to the Financial Stsitments 11 to 18
Worthing Communlty P8rtMtnbip Company Lirni¢¢d by Garantee Flnancial St*¢em¢nts Year Ended 30 June 2024 The truste¢4 who are also the directors for the purposes of company law. present iheir rep)rt and ihe unaudiied financial siatements of ih¢ chority for the year ended 30 June 2024 Referentt and Admini5trntive Details R¢glstered charity Worthing Community Pamership a Worthing Comrnuniry Chesl Charity reglstr8tion number 1098284 Comp8ny registration number 04243893 Principal orrice and registered offlce Town H1 Chapel Road W¢)rthing Wey Sus5¢X BNII IHA United King Th¢ Trustees M Brett M Ansell SJ Robinson-viney R Fokou N Atkins RENowak H Thorpe Rachel Elizabeih Hulrn¢ (Appoinied 15 NovembEr 2023) IDd¢p¢ndent Examiner Oliver Tatsayemeli FCCA Belver Atcouniing & B1fte$S Services (BABS) Lt 4 Preston Road Brighton Sussex BN14QF
Worthing Community Part#ersltip Compamy Llmited by GuarTrtee Trllstee$' All1 Report {In¢orporating ihe Dirtttor's Report) Year Ended 30 JuThe 2024 SIr¢ture, Gov¢rnan¢e Man#gement The charity is ¢onstiluted Ls a company limid by guardntee and is th¢refore governed by a memorandum and articl¢s of associalion dated 29 Jun¢ 21. The mtstees are appointed ai th¢ Annual G¢nernl Meeting and one third reiires in rotstion and can be re-appointed. The trustees may fiher appoint try51ees to fill vacanci¢5 arising betwe¢n Annual Generdl Meeiing$. The trustees ar¢ r¢¢ruiled dependent on skills required and contribuie at Board meetings artd at least one other ¢omrnitt¢e or role within the organisation. Tnhste¢5 are given an induction by ihe Chair. Treasurer and other mJstee5 and receive on-going forn1 and infornial training at board meeting& away day5 and through links with oiher local agencies. Worthing Comrnunity Partnership is a small organisaiion and as such. M1¢¢5 and all volunieers within the organisation, are more a¢tive than would usually be required of a gowernance role wiihin a larger organi5ation lh has a &ter number of paid sthff. Public Benefit The mjsiees have referred to the Charity Commissions guidance on public benefit when reviewing the company's aims and objeciiwes and in planning fvture aclivities. As a grant making charity. Worthing Community Chest exists to make partnerships and offer fiTWKial grants to enable loul group4 projetts and events for the public benefit. Object(Yes and Activities The Worthing Community PatThership is known locally ihe Worthing Community Chesi and is an independent organisation enabling and supporting local communiry r¢gen¢rntion, projects and even15. We OP¢rydte as far a5 possible by building p4rtn¢T5hip5 whth local voluntary organisaiions and club& businesses, staturory bodses and individuals. Our Purpose To tackle social isolatiott and economic deprivation by= l) Bringing people and organisaiions together to find solutions io address local issues and opporninitie 2) Acting as a conduit for funding to enable DJnDing of programrn¢s and specifi¢ ¢vents and projects. 3) Working tQ8eiher wilh organisaiions atsisi and lead in ihe delivery of proje¢ts and initiative5. 4) Supponing small local groups wilh financial assistance through Worthing Community Che51 an1 AchIeMentS and Future Plths The main in¢ome for the Charity is derived from ihe coniinuingwcupan¢y of the freehold pro. RenaLS5ance House in Rowlands Road, WorthiTr& Thi5 enables the Organisaiion io cary oui lis Charlble fijnciions. TexEile recycling income received via Worthing Borough Council 15 festricttd to awarding Worthing Community Chest small gtants. We ceived £434.60 unrestricted funds from lollery donaiion4 the Textile recyclirtg ffceiyed via Worthing Borough Countil income is incremenrally diminishing by the year. The chartty will continue co pmmote recycling locally to help to mee( coiincil r¢cy¢ling tar8e4 reduce landfill was* and raise fund5 for diswibution lo local groups and events in Worthing. A lisi of organisaiions thai have benefitted from grants awarded in the year is inclthded in note 8 to the fhnancial statements. The charity awarded grants. grass roots funding and seed fvnding to help organisations cope with the difficult times of approximately £15,987. during the year. helping ro enable a wide range of events io rake place in Worthin& Mor¢ detsiled achievemenrs and activities of the ¢harity are detailed in the Charity's Annual Report ovailable from the iown hall and UFX)n reqtsest.
Worthing CommuAity Partnership Company LiThited by Guarantee Tru5tees' Report (ltteorporating the Dirertor's Report) (continued) Year Ended JO June 2024 Finneial Revlew The results for the year are set out in th¢ ststemenl of financial activities on Page 8. There was a total net surplus for the yw of £225 (2023: £7,030 Shortfall). The shortfall generated on the unrestricied general nd was £6,319 (2023.. £6,364 surplus).-The increase in support costs of £1.634 compared to the previous year is mainly due to introduction of Ageni rnaintenance cost in 2024- £27.066 (2023.. 25.432). This surplus and net assets enabled th¢ trustees to alliate an addirional £6.543 of unrestricted funds to resrricted income to award £10.927 in community Che grydnts, Grw rOS and Seed fvnding of £5,575 and £15.426 shortfall covered by the designated Renaissance Hol Repair fund%1¢4ving £1 5,65 l surplus in the year to be added to unrestrict, undesignated funds as at 30 June 2024. RerVeS lrt ihe context of these financial ststemeni& Te5erves are the fvnd5 available to the charity ihar can be made available io spend for any or all of lis purposes. once it has mei its cornmitments and covered its planned expenditure. These ¢ompri5e restrieted reserves io be speni solely on Community Chesr Grants and unrestricied funds that may be designated by the tyustees for specific purposes io enable ihe work of the chariry io continue and grow and me¢T ils aniicipated requirements. The level of resuv¢5 is mon110r and reviewed on a bmonthlY basis. The directors consider it prudent that unrestricied reserves should cover 3 months njnntng (S for the charity and rnajor repaits at Renaissance House. UDrestri¢t¢d funds Comprise £311.379 repteseniing the book value of Renaissance House. £7,299 representing three month%. running costs and credit balance of £88"expecred from E51are Ageni. leaving iotal undesignated funds of £62.685 30 Jun¢ 2024. Thi5 meets ihe trugees, dttired level of reser¥es. It is expecied that the unrestricted T¢s¢rv¢$ will be used io award funher grants irt the coming yeaTS as the recycling income redtsces. Restriettd Community Ch1 Grants Fund Funds received from Worthing Borough Council from textile recycling are held for the sole purwse of awarding communiiy chest small grant$ io fund local projects and even. Recycling income of £10.927 was received in the year and granis of £15.987were awarded. During Ihe year some previously awarded bui paid awards of £11,604 wos written off &5 the iwo year period given for th¢ grants to be rwu¢M¢d h&4 passed. Dl#nated Major Repairs Fund Funds received from tenanis in excess of serviee charge retharged costs are held for the sole purpose of major repaits and propeny works rechargeable io ienants under the ierms of their l¢Jses. The purp05e of ihis fund is io reduce fluctuations in annual ser¥ice charge co$ thai would be caused by recharging all major works on Renaissance House in the period they are incurred and io ensur¢ fijnds ar¢ available for planned major works such &$ lift repairs and external prorty r¢d¢coralion. The Major Repairs Fund is now held by ihe letting agent rnanaging Renals5ce House on behalf of the Chariry. Risk A55¢55ment The direciors review financial and other ri5k5 when appropriate and have e5tsblished procedures io ensure thai tran5a¢lions and projects are properly authorised. On-going rpancY of Renaissance House is necessary ftir ihe on- going sustsinability of the charitsble company in lis CU)Tent forni. Tn1¢¢5 are looking fon¥ard io maintsin the lease wilh our Current ienants Wesiern Sussex Health Twst they were awarded the continuin8 contract to offtr th¢ sexual health seThictt from our propety and will cortiinue in tenancy for ihe next three io five years.
Worthing Community Parttb]p Company Limited by Guargntst Tr4st¢es' A1 Report (Imeorptsrntlng the Director's Rert). j¢ontiD¥wJ) Yer Ended 3fl Jllne 21n4 Ststement olTrustees' Rupon$ibilities The tN5tees (who are also direciors of Worthing CommuTtity P8rther5hip for the purp05¢5 of company law) are re5pon5ible for preparingihe Diredoys. and Trusie¢s' Tep)rt and flnancial staternents in acwrdan¢¢ with applicabl¢ law and the ch11e$ SORP IFRS 102). Company law requires the trus1tt5 to prepare financial sMements for each financial year which 8Lve a true and fair view of the state of affairs of th¢ charitable Company and of the incoming resources and application of resou4 including the income and expenditure of the charitable compthy for the year. In preparing these financial StsteM¢Th the trustees are wuired to: s¢lect 5Uitable accounting policies and then apply ihem ¢onsirtty' obseThe the meihods and prinGipl¢s in"4¢ Chariiies SORP. make judg¢ments and arcounting esiimates thar are reasortknle and pyudeni" sthte wheiher aFvlithle UK AOUnt148 Sthndards have been followrf subjeci to any rrtaterial departures disclosed and explained in the financra, st8ments' Prepare the financial staternents on the concern basis ynless it is inappropriat¢ to presyrne that the charity will Contin in operation. The trusiees are reS[Ible for ke¢ping adequate accouniing records are sthtT¢cieni io show and explain ihe charitsble company's Irdns4dions and disclose WTih reasonablL accuracy * any lime the financial SItion of ihe charitsble wmpany and enable them io ensure that the financial swements comply with the Companies Act 2006. They ar¢ also responsibl¢ for Safeguarding the assets of the charitsbie company and he for tsking reasonable sieps for the pr¢veniion and det¢10 of fraud and other irregularities. Sm811 Company Provi$ioDS This report has been prepared in accoTdance with the provisions 8pplicable to eompanies entitled to the sm#ll ¢ompanies' exemption. The charity is not 5ubjed to audit under company law and is eligible under chariry commission requirements ftsr independent ¢xamtn&tion. lTrdepeDdent Examiner Oliver Tatsayerneli of BelveT Accounting 8nd Business Services (BABS) Ltd will be proposed to the AGM to be reiained &$ ihe independ1 ex4min¢r. Signed on behalf of the truees Richard Nowak 29104125 29104125 Rigob¢l Fokou TnTre Chair
Worthing Cothmutsity P•rtnenhip Comp•ny Limited by GuarTrtet Independent Examintr's Reptsrt to the Trusthes ofworthingcommunity P8rtner5hip Ye8r Ended 30 June 21124 I report to the trusiees on my ¢xaminaiion of the Jecounts of the Worthing Community Parthership for the y¢ar ¢nd¢d 30th June 2024. Respofj$ibiliti¢J b•sis of report As the trustees of the charity (8nd also its direaoTh fw the of Company Law). you are resKM)nsible for the preparation of ¢h¢ fmawial stat¢m¢nts in ¥xordanc¢ with the requirements of the Companies Act 2006 (the 2(KJ6 Acr) Having wisfied myseifih the fancial swements of ihe charity are noi required to be audited under pans 16 of the 2006 Acr and are eligible independent exam1thi0n, I report in respeci of my examination of the ¢harity's financial ststements Carried our under Sefflion 145 of the Charities A¢t 2011 (the 2011 Aci). In carrying oui My exarnination. J followed all the applicable Direciiong given by the f.harity Commission under Section 145 (5Xb) of the 2011 Aci Independent examiner's ststemeot I have compleied my examination. I confirn? that no material mattets hawecome io my attentron conneetion with the examinaiion giving rne se to believe that in any m31erbal Tr-:.PC¢L . accowiiing records wert not kept in accordance with sertion 386 of the Companies Act" (r 2. the accounts do not accord wilh those lerds. or 3. th¢ a¢counts do not wmpty with rel¢vant accounting re(?uirements uThler 110 396 of the Cornp&nies Act 2006 other than any Tequirement that the accounts give A'tr and fair. view which noi a matter considered as part of an independent examinatiorj. or 4. the accounts have noi been prepared in a¢d•t with the Charities SORP (FRS102). sied. Oliver Tatsayemeli FCCA B¢lv¢r Accountin8 and Business Services (BABS) LTD. 4 PrE510n Road. Bright0 East Sussex BNI 4QF 29104125
Worthing Community Parther5bip Cornpny Limited by Garantet SthtemeTh¢ of Financial Aclivitiu (in¢ludiEg infxffje d expenditure aceount) Y¢4r Ended 30 Jun¢ 2024 2023 Totsl fvnds Tot1 ruthd5 JTMts Ineome and endowmeNts from Donations and legacies Chgriiable activities Income from investm¢nlS 10.927 14,516 29,778 282 21J72 74) 21 J72 743 Tot81 Incothe ethdowments 927 76 Exptnditur¢ OD Charitable activiiies GTa5s Roots Funding less prior year un¢laimed Total Expendilurt &ii 29.179 10,412 5.575 -11,604 39.591 S575 -11.604 33.562. 49.026 2.580 51.606 Net incomtl1¢xndl¢llre) 225 -7,030 Net rnoyernent in funds 225 -7,030 ReroTreili&tioth of funds Totsl funds broughi forward Transfer ynrestricied to cover r¢stricied funds shortfall Totsl ndS Carri forwtrd 381.051 381,051 388,081 17 381 The statement of financial,aciiviiies includes ali and losses ilxognised in ihe yea All incom¢ and expendiiiire derive frow. continuinu acii'<pl.= epi ihose itemised in not¢ 5 The not-ts on p*. , . .1! 18 fomi part of these financial sktements
Worthing Community Partnership Company Limlted by Guaranlee Stst¢ment of FiDan¢ial Position Yvar Ended 311 June 2024 2023 Fixed Assets Tangible fixed assets 13 311 J79 313.379 Current Assets Debtors C&5h at bank and in haThJ 14 19015 55,907 82J90 12,693 93.655 25.983 Credirots.. amounts falling due within one yegr 15 Net Current Assets Totsl Assets less Curr¢ot Liabilities 67,672 381.051 381,276 Crediiors.. amounts falling du¢ #fter rnore than on¢ y¢ar Ntt Assets 16 381276 381.051 Funds of ¢h¢ Charity Restricted funds UnrfStri¢t¢d fi]nds 381,276 381.051 Totsl Charity funds 17 381276 381.051 For ihe year ending 30 June 2023 the charity *?-. entltled io exemption from audit under section 477 of the Companies 2006 relating to small companies Tnle¢s, responsibilities.. The members have not required ihe Charity to obmin an audii of its financial sthtements for the year in question in ac¢ordpnc¢ with seciion 476. The trustees acknowledge their resp)i]sibilities for complying wirh ihe requirements of the Act with respect to actourtling records and the prepalOn of financial 5tsternenis These financial stsiements hav¢ been prepared in accordance with the provisions applicable to companies subjeci ¢0 the small Companies regime. The notes on pages b I ro 18 fomi part of these financial statements
Worthlng Community Part•¢Tsbip Company Umited by Gurantre Statement of FinaTrcil Posilion (¢ontiDu¢d) Year End¢d 30 Jynt 21)24 Th¢se finanei81 ststernents are io be appro*Kd by the board of truMee5 and authori5ed for issue and will be Sid o behalf ofthe board by. 29104125 R Fokou Trustee The nrfe5 on pws I I to 18 fonn part of these financial tstements 10
WorthiDg Community P•rtnersthip Comp¥ny Limited by Gu#rnntee Note5 to the finncial Stst¢mertts Year EBded 30 Jun¢ 2024 I. G¢Deral Inforrnt The charity is a privale CoMpY limii¢d by guarantee, regisiered in England and Wales and a regisiered charity in England and Wales. The address of the registered office is Town Hall. Chapel Road. Worthin& West Sussex. BNI I IHA, United Kingdom. 2. Ststement of Compli8nee These financial statements have been prepared in aOrdanCe wilh the Charities SOIiP: Ststemeni of Recommended Praciic¢.' Ac¢ouniing and Reporting by Charities preparing iheir accounts in accordance with ihe Financial Reporting Stsndard applicable in the UK #nd the Republic of Ireland (FRS102) 3. Aeeountin£ Policies Basis of Preparation The finan¢ial 4atements have been prepared. on the historical c05t basi& as modifKd by the revaluaiion of certain finary¢ial a5s¢ts and liabiliti¢5 and investment properties measLred ar fair fdlue through income or expenditur¢. The financial statements are prepared in st¢rlin& which hs the funciional currency of the ¢ntity- Colng Concern There are no material wKenainli¢s al)oul rharity's ability to coniinue. Diselosthre Exempti04s The entity satisfie5 the criteria of being a qualified entity 18 defined in FRS102. As such. advantage has b¢¢n of the following disc105ure exempiions awaiiable under paragrdph 1.12 of FRS 102.. a) No cashflow statement has been presented for th¢ company Judgernents 8nd Key Sources of EstirnalioD Untertaioty The preparation of the finan¢ial statem¢nts T*quires managemellt to make judgemenrs, estimates and assumptions that affett the amounts reported. These esrimates and judgemeii ts are continually reviewed and are based on experience and other factors. including expe¢ratioDs of furure •vents that are believed to b¢ reasonable under the circumstsnces. FNd Accounting Unrestrid¢d funds are available for use at tke ditretion of the trUCeS to further any of the charity's piiryjoses. Designat¢d funds are UnFestyicted fvnds earnwked by the trustees for a particular future projett or commitm¢nL Restricted funds are subjected to f¢Stri¢tions on tiieir expeFMlittrt declared by the donor or through the terms of an appeal and fall into one of two sub¢lasses". restritted income fvndy or endowment funds
Worthing commDity Partnersbip Company Llmlted by Guaraptee Notes to the Finaeial StaterneThts (tontinued) Year EDded 30 June 2024 3 Aeeounting Policies ItoTht5outd) Incoming R¢soyrces All incoming resources are included in the SeMent of financial xiivities when the entitlemeni has passed io ihe ¢harity- it Is probabl¢ that the ¢conomic benefits a$50ciated with the trdnsattitsn will flow to the charity and the amount can be reliably mea5UTed. The following specific policies are applied io particular categories of inwme: Incotne from donations or n(S is recognised when there is evidence ofentitlement to th¢ gitL receipt is obable and its amount can be measured reliably L¢gacy income is rKognised wh¢n re¢eipt t$ probable and entitlernent is ¢5tablished Incom¢ from donated 8cK)d$ is measu"r&. the frdir value of the 8(d$ unle55 this is impractical io measure reliably, in whi¢h case the value is (kp.ved from the cost to the donor or the estimated r¢sal¢ value. Donated faciliiies and services are recognised in the accounts when TebVed if ihe value can be reliably measured. No amounts are included for the contribution of general volunieer5. In¢ome from contracts for the supply of services is recognised with the deliv¢ry of the ¢ontraeted Service. This isclassified uw¢stricted fvnds Unl ther¢ 15 a c¢1&Id1 requirern¢nt for it to be spent on a particular purpose and reDJmed if unspent in whieh e&%e ir may be regarded a5 restricted. Resour¢es Expended Exp¢nditur¢ is recognised on an accruals basis a5 a liability in incurred. Expenditure includes any VAT which cannot be ffijlly recovered and is ¢lassifi¢d under h¢adings in the ststem¢nt of flnanrial aClivitle5 to which it relas. EXpeTrJitU on rnb5ing fund5 in¢ludes the cow of all fundraising activities. eveni4 non4haritsble trading activiti¢5 and the sale of donated gwwjs. Expenditure on charithble activities include5 all co5 ITTed by a charity in undertaking aciiviiies ihat fijrther its charitable aims for the benefit of is beneficiaries. including those supw)rt costs and costs Telaiing io ihe gov¢rnance of the charity appcrtioned:o tharitsbk ivi¢i¢& (kner expendiNre includes all exwlditure thar is neither reled to raising funds for the charity Mr part of its expendiiure on charittble artiviti¢s. All co$ are alloCad to eXnditre categories reflecting the use of the re50urce. Direct Costs aitributable lo a single activity ar¢ allocated directly io I1 al¥lty. Shartd rosts are apportioned between the activities ihey contribuie to on a reasonable. ju5tifi¥bl¢ and ¢onsist¢nt basis. Tangible Assets Tangible assets are initially recorded ai c05t. and subsequently stated at cost less any accumulated depr¢eE&tiort and Lrnpaimieni Ios5¢s. Any tangible &ssds carTied ai revalued amounts are recorded at lh¢ fair value at the date of revaluion less any subsequent a¢uled deprE¢iation aAd impairnient losses. Art increase in the caSIng amount of an &ssei as a resuli of a revaluation is rQgniSed in other r¢¢ogni5ed gains and105s¢4 unless li reverses a charge for impainnent that ha5 previously been recognised as expenditure within th¢ staiement of fIntial activiries. A decrease in the carying amount of an asset as a result of revaluaiion is re¢ognised in other recogni5¢d gains and losses. excep( io which bi offsers any previous revaluaiion gain. in which case th¢ Ioss is within other rewgnised gain5 and losses on ihe ststemeni of financial xiiviiies. 12
Worthlng CoThmwnity Prtnership Compny Limit¢d by Cuarantee Notes to the Financial Ststements {eDntinued} Year Ended 30 June 2024 3 Aceounting Policies Iumbdoyed Depr¢ci4tiOD Th¢ charity does not depreciate freehold propeTty a5 it is exted io retain its value over the period of own¢Tship. Depreciation is calculaied so as io lte off the wst or valuation of art asset. less its residual value. ov¢r the useful ¢conomi¢ lift of that assei as follows.- Equipment Improvements to wo - 50% Strdight line - 20Y• 5trai3ht line Impairm¢Trt of fixed As5eis A review ftir indicators of impairntent j5 cArri¢d out at each rel18 date. with rhe recoverable amount being esiimaied where such indicators exist. Where the carying value exceeds the recoverable amount. Ihe &%set is impaired accordingly. Prior itnpairmeftts are also reviewed for tM)ssible reversal each reportiftg dat¢. For the purposes ofimpaimient te5tin& when it is not possrble to euimare rhe recoverable amount of aft individual assei. an estimate is made of the recoverJble amount of ihe cash-generdting unit to which the a%%et belongs. Th¢ cash-8enerin8 unit is the smallest identifiable group of &t$ that includes ihe assei and generates c&%h inflows that largely independeni of the cash inflows from other &%sets or gn)ups of assets. Fin8nel81 Instrnments A financial asset or a financial liability is recognised only when the clwtty becomes a party to the contraciuAI provisions of the instrument. B1¢ finaD¢ial instrumenis are iniiially recognised at the amouni receivable or payable In¢llg any related tran5a£iion costs. Current ass¢t5 aDd curreni liabilities are subsequently measured ai th¢ cash or otherconsiderJtion ¢xpec(¢d to be paid or received ar noi diseounted. Debt instrum¢nts are 5ubsequerttly measured * amortised com. (hher financial insmiments, including derivative4 are initially recognised at fair Val unless payment for an assel is deferred beyond normal business terms or firwn¢ed at a rdte of in*rest that is noi markec rate. irt which cas¢ the a5S¢t 15 m¢Lsur¢d at the present value of Ihe fuwre payThenr5 dionIed at a market rdte of inierest for a sirnilar debt instrumeni. her financial instruments are 5ub5¢quently measured ai fair value. with any changes recognised in the staiement of financial activilies, with the exception of hedging insmiThei'.ts in a designated hedging relationship. Financial a55eL% that ar¢ mUred at cost or amonised c05t are revieweil for objective evidence of itnpairment at the end of each reporting dat¢. If ther¢ is objeciive evidence of impaim)eni. an impalmTri 105s is recognised under the apprOprie heading tn th¢ statement of financial activities in which the initial gairts was reCOls¢d. 13
Worthing C0mnitY Partnership Company Limbted by Gu¥rnDtee Note$ to the fi£121 Ststements (continued) Year Ended 30 June 2024 3 Ac¢ountiD8 Polities ItDDtiNutd) For all ¢quity instrum¢nLS regardless of significance and other financial assets thai are individually significanL these are assessed individually for impairmeni. Other fuwicial &ets are either assessed individually or grouped on lh¢ ' basis of similarcredi¢ risk charncierislics. Any reversals of impaim)ent are recogni5ed immediately. lo th¢ extent ihai the rev¢rsal does not re5uli in a carying amount of the financial a55et that ¢x¢¢eds whai ihe canying amuni would have been had th¢ impaimeni not preyiously been recognised. 4. Llmited by GuarnDtee The company is limited by guaranttt and every member of the company uThJenak¢5 to contribut¢ an amount of £10 to the company's assets if it should be wound up while they are a member or wiihin one year after they cease to be a member. for the payment of the company's d¢bt5 and liabilities contracted before they Ce to be a member and of the charges and expenses of winding up and for the adJtMent of the rights and contributories among thems¢lves. If the company 15 wound up. after all its del and liabililres have been sarisfjed there r¢rnains any property, it shall not be paid io or distribuied arnongst the membets of the company bul it shall be given or transferred to some other charity or associaiion having objects sirnilar io ihe object5 0!the charitabk cornpany. DonJlioD$ 8Dd iwcies Restrictrd Funds Totsl Funds 2024 Funds Donation$ unrestricted Other income UreStriCted Design8ted kg•¢y Dontiotts and Sponsorship restricted Community Chesi R¢¢y¢lin8 Vla Worthing Borough Council Pop-up r¢cycling income 545 743 545 743 10.927 10.Y27 88 Unre5triCt¢ Ful5 Restri¢ted Funds Total Funds 2023 Dothations unrestri¢led 1.736 1,736 Other infome uDrestrieted tksigna¢td legaey Donations and Sponsorship restrieted Community Chest Recycling via Wvrthing Borough COU1) Popup recycling income 12,780 12,780 780 14
Worthing Comrnunity PartDership Company Limited by G¥8rantee Nol¢s to tbe FinaDcial Stsiements (tmtitsued) Year Ended 30 June 2024 Charltsble Activities Tothl funds 2024 Total funds 2023 Unrestricted Unrestricted fijnds Rent Service Charge 36.999 36,999 36,999 36,999 Service charge rargj -15.139 to cover service charge rharged costs Shortfall transfrrred io major repairs designed funds 7.025 -14 Seryic¢ ¢harg¢ in¢orne is a recharge of service charge costs incuried on behalf of ihe ienani and reimbursed from the service charge. Tbe surplus transferyed to th¢ major repair tiuhd is shown as revenue and shortfall as ¢05t. 7. Jmvesiment Income Tota] funds 2023 UrLf¢5tricted Totsl fuDd52024 Unr¢stric¢ed fund5 Bank interest receivable 743 743 282 8. Expenditu on Ch•ritble Aetlvilies by Activity Type Activities underraken dirtctly Supp Totsl fuftds Totsl filn 2023 Charity $UPPOrt costs Community Chesr Grdnts Partnership fvnding ix55 prior year unclaimed gnts Governance Costs 15,775 1&775 1$987 17.727 26.174 15.987 15.987 27.066 43,O$J The organisarions that ttfitted from Commw¢iry Chest Grants aDii Partnershrp awards during the year were.. 31.606 We are Pollinaior Pioneers CIC Tarring Priory Bowls Club "S¢rvice by Emergency Rider Volunteers (SERV)" Highdowrt Tower Garden and Pleasur¢ Ground Tn CYCALL Inclusive Cycling Maybridge K¢ysione Club Worthing Heritsge Allianc¢ Worthing Short Mat Bowls Club Between rhe Blue and Green CIC Worthing Film Club Fenfold Short-mat Bowls Club Picnic in the Park @ TaTring Ges it To8etheT WORTHING CLIMATE ACTION NETWORKIGREEN TIDES Broadwater Community Choir 15
Worthing CoThmunlty Prtnershlp Cornpjny Limited by Guarantee Notes to the FinaThcil Stsiements (continued) Y¢4r Ended 30 Jun¢ 2024 9. Analysis •f Support Costs Unrewicted furhts Total 2024 Total 2023 Stsff costs {Ne 10) Printing, postsg¢, mi5c¢llaneous office supplies. SWi(x Advenisin& marketing and promotÈons A¢couniin& insurance. legal compliar Trainin& travel and meeiing costs IT and subscriptions Prop¢rty Managemeni fee Telewmmunication D¢preciation 10.960 10.960 14251 389 10.902 1.4(X) 1.415 2.041 IOJ02 1,400 1.415 1041 7.615 872 604 2,OIHI 29.179 2.0(K) 25.432 29.179 JO. IDdependtrtt examination Fees 2024 223 Fee Payabl¢ 10 the Ind¢pendent Examiner for. Ind¢pendent Examhnation of ihe SthtemeD15 (A)0 Their stsndard charge of £600 is io be mad¢ forthe y¢¥r ended Jun¢ 2024. 11. Staff Costs The total staff costs and employee er11$ th¢ rep)rting period are artalysed ls follows: 2024 2023 Wages and salaries Pert%ions Total Sraff Costs 10,750 210 10960 13.755 491 14,251 The average head count of employees during Llje year was one. The ayetage number of full-time equivalent employees was half for 2024 and half for 2023. A Workplace Pension Scheme. with minimum legal requirement of 80/• Since April 2019 of which the employer is only oblig¢d io pay 30h i5 in place. 2024 2023 Number of stsff 12. Trust¢¢ Rtmuneration and Expense5 The chariiable company relies upon and greatly appreciates ihe goodwill, lime and expertise offered by all volunte¢rs. No rernuneration or other bene *its from employmE•i with the chariry or a related eniity were r¢ceived by trustees or other volunt¢ers.
Worthing Commwnity hrtThership Company Llmited by Gralet Note$ to the Financial Stst¢rnets (coatinu¢d) Year End¢d 30 Junt 2024 13. T#Thgibk Flxed Assets lrnprovements to Proputy buildings Equipment At l Jul 2023 Additions in year 30 Jun 2024 311J79 3.047 61,154 375.580 375 Depreciation At l Jul 2023 Charge for the yesr At 30 June 2024 3,047 59,154 62.201 2.OC(I 2,(K)O 61 154 07 Carying Amount At 30 June 2024 311J79 311J79 311,379 AI 30 J[e 2023 313,379 Depreciaiion w&* tharged at 20% in the F-. on improvements WO was completed in June 2019 14. Dtbtors 2024 2W23 RKycling income debtt Other Debtors Other property dthors and prepayments Totsl Debtors 4259 15,556 4,0(K) 55.907 59.907 15. Creditors: amounts fAlling du¢ within one yegr 21n4 223 Community Chest grants awarded noi yd paMI Other creditors and xcn4ls Total CrediloT5 12JJ93 25,383 12,693 25.983 l& Credltors: amounts falling dut within 21n4 2023 17
Worthing Community Partnership comnY Limited by Guar4nt¢e Notes to the fiTrameial S¢•¢¢tneThts (continued) Yer Ekded 30 June 2024 17. Analysis of Chrit*ble Futsds Unrestricted fiuHts Ai l July 2023 AI 30 June 2024 Income Expenditure Transfers Getml funds Designated repairs DesigNed 3 rnonth fiuKI Transfer to cover restricted shorrfall 4-'.222 38287 15.337 -15.427 -29.179 440,330 -90 7299 6263 381,276 -72.807 381.05: 6.544 6.544.. -29.179 Restricted funds At l July 223 ' Income Expenditttre Transfers At 30 June 2ff24 Community Chest Grnnt fiu¥J Trdnsfer io cover r¢5tricted 4KYtfall - 72.81 10.927 4.384 6263 66263 -6,543 -6.543 10.927 4384 Recycling incorne fvnds the Community Chest Restricted fund from which ihe charithble company makes awards of small grants up ro £1.5. Grw Toots tsrdnts of yp to £750 and Seed grants of up to £250 10 help local community groiips, prOjts and loul evtrlty.. w. list of the organi5alions benefitting from award5 in the past year is in note 8 to these financial stsiements. FL"yier details are available on request. 18