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← South Mitcham Community Association

2024-03-31-accounts

SOUTH MITCHAM COMMUNITY ASSOCIATION Charity no. 1101681

SOUTH MITCHAM COMMUNITY ASSOCIATION

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024

SOUTH MITCHAM COMMUNITY ASSOCIATION

TRUSTEES’ REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

LEGAL AND ADMINISTRATIVE INFORMATION ................................................................... 1 REPORT OF THE TRUSTEES ............................................................................................. 2 INDEPENDENT EXAMINERS REPORT .................................................................................. 7 STATEMENT OF FINANCIAL ACTIVITIES ............................................................................. 8 BALANCE SHEET ................................................................................................................. 10 NOTES TO THE FINANCIAL STATEMENTS ........................................................................ 11

SOUTH MITCHAM COMMUNITY ASSOCIATION YEAR ENDED 31 MARCH 2024

LEGAL AND ADMINISTRATIVE INFORMATION

Charity Number: 1101681

Registered Office: Community Centre Cobham Court Haslemere Avenue Mitcham Surrey CR4 3PR

Board Trustees who served during the year:

Trustee & Acting Chair: Patricia M. Harrison, Trustee & Treasurer: Richard Dean (Appointed September 2023, Resigned June 2024) Trustee: Barbara E. Holgate (Resigned as Treasurer September 2023) Trustee: Stephanie Phillips Trustee: Qasim Chishti Trustee: Marc Clifford Trustee: Kemi Oyebode (Appointed September 2023) Trustee: Kelly Walker (Appointed September 2024) Trustee: Alan Thennakoon (Appointed September 2024 Resigned October 2024)

Independent Examiner: Darren Harding ACA, FCCA, DChA Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT

Bankers: Lloyds Bank St George’s Road Wimbledon London SW19 4DR

1

SOUTH MITCHAM COMMUNITY ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their report and the financial statements for the year ended 31 March 2024. 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 constitution, the Charities Act 2011 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 objects for which the Charity is formed are:

To promote for the benefits of the inhabitants of South Mitcham and the local area within the London Borough of Merton without distinction of sex, sexual orientation, disability, race or of political, religious or other opinions by associating with the local authority, voluntary Organisations and inhabitants in a common effort to advance education and provide facilities in the interests of social welfare for recreation and leisure time occupation with the object of improving the conditions of life of such inhabitants; and

to manage premises at Cobham Court for activities promoted by the Charity and its constituent bodies.

Development, Activities and Achievements this Year

On 15 November 2023 we converted from being a Company Limited by Guarantee to a Charitable Incorporated Organisation (CIO) with a new constitution based on the Charity Commission’s model. The CIO is a legal form for a charity created in response to requests from charities for a practical and effective incorporated vehicle which provides some of the benefits of being a company but without some of the burdens. It provides registered charities with a more attractive legal framework that is regulated purely by the Charity Commission. As such it is much more suited to SMCA’s needs as a small charity with limited resources.

Our Springboard Project reflects our ambition to deliver priorities for the local community. Features of this work include upgrading our facilities, diversifying our activities, and reaching more members of the community so we can make a real and lasting difference to people’s lives.

Cost of living pressures continued to have an impact on our running costs making this another very challenging year. Nevertheless, we have made good progress against our strategic objectives for the year including steps to make us a fitter, more focused and responsive organisation. As a result of our strategic investment in SMCA’s infrastructure and the financial challenges faced this year, we have made greater calls on our reserves than in previous years. Use of our reserves was consistent with the purpose for which they are held. We have worked hard to access new income streams and to generate income to defray continued outgoings and to support our activity programme. This has been achieved through lettings and successful bids for dedicated funds.

Careful monitoring, coupled with the hard work of our staff has ensured that we continued to deliver a varied and welcome programme of activities for community centre users throughout the year. We have made progress in rebalancing our offer so that more activities are now provided by SMCA directly, supported by dedicated funding. This allows us to respond more flexibly to the priorities and expectations of our core funders.

Monitoring data from the last quarter of the year indicates that footfall has been building after the pandemic with around 1500 centre-users each month during that period. Over the year we have served about 14,440 community centre users. Data shows that we are reaching out to, and attracting, centre-users from across our diverse community. Feedback from our centre-users has been very positive: they appreciate the new developments at the centre and welcome the wide and growing range of activities and events.

2

SOUTH MITCHAM COMMUNITY ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 (continued)

We have continued dealing with on-going maintenance issues and a programme of improvements to allow us to use our space more flexibly. As tenants of London Borough of Merton, we worked with them to secure repairs and improvements to the community centre as borough priorities and budgets allowed. Our successful bid for funds from LBM’s Civic Pride Funds – Investing in Neighbourhoods enabled us to carry out the much-needed refurbishment of our toilet facilities. The work completed in March 2024 involved an extensive refurbishment including an improved layout and greater accessibility making the toilet facilities more suitable for all community centre users’ needs.

The Trustees consider that the performance of the Charity this year has been satisfactory in challenging circumstances.

Future Developments

In the first 3 years of our 5-year strategy for sustainability we have made good progress, despite the pressures associated with the Covid pandemic, rocketing energy costs and the cost-of-living crisis. During 2023/24 we have faced changes and challenges but by being clear about our goals and with the determined efforts of all the SMCA team we have diversified our offering, delivered for our local community and put in place the building blocks for growth.

Many charities report a significant increase in need for their services combined with rising delivery costs. SMCA is no exception and it has been another very challenging year. We anticipate that 2024-25 will be no less challenging and we will have much to do serving people across the borough who are faced with prioritising and stretching their budgets to meet increases in their cost of living. The financial support from LBM provides a welcome degree of continuity but against a background of reduced local authority and statutory funding we must be realistic about the financial climate and the challenges we will continue to face.

We will be reviewing our strategy in 2024/25 to ensure that it remains up to date and supports our continued development. We will continue:

We will continue to develop and expand our diverse programme of activities. Using a creative and inclusive approach we will position SMCA as a community hub and a key agent for promoting community cohesion and providing something for everyone in the local community to enjoy.

Transactions and Financial Position

The Statement of Financial Activities shows a net deficit for the year of £82,146 and reserves stand at £39,917 in total.

The trustees negotiated a lease for 28 years via Merton Federation of Community Associations with the London Borough of Merton in 2012.

3

SOUTH MITCHAM COMMUNITY ASSOCIATION

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2024 (continued)

Reserves Policy

SMCA requires a level of free reserves to safeguard the Charity, protect options for future development and to achieve the following.

Tangible Fixed Assets for Use by the Charity

Details of movements are set out in the financial statements.

The trustees have considered the most appropriate policy for investing funds and have found that COIF meets their requirements and consider the interest earned over the year to be in line with expectations given the economic climate. The trustees have also invested £10,000 with Lloyds TSB in a Fixed Term Account which brings the benefit of zero bank charges.

Reserves

In 2023/24 we have also absorbed significant costs relating to our restructure and lost income. SMCA’s 5-year strategic plan recognised that the charity’s business model was not sustainable in the long term and that SMCA needed to invest to grow. In September 2022 we appointed a Grants and Operations Manager (now Strategy and Operations Manager) which was a new post. A restructuring exercise was completed in 2023 which incurred one-off costs relating to redundancy and recruitment. Recruitment costs were higher than expected owing to high agency fees for both temporary and permanent appointments.

Delays, outside our control, to the planned refurbishment of the toilet suites meant that the community centre had to close for several weeks longer than expected. This resulted in a significant loss of income and the cancellation of regular bookings. In recognition of the inconvenience caused to community centre users as a result of the refurbishment delays and our recruitment difficulties, we deferred our rent review to mitigate against the real possibility of users ‘voting with their feet’. Income was also lost or not received in the financial year reported on as a result of delayed or non-payment of rent and some debts having to be written off.

4

SOUTH MITCHAM COMMUNITY ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 (continued)

We have taken action to rebuild our unrestricted reserves. As a small charity, the operating conditions for SMCA are always challenging but we continue to look for ways of improving our operational performance, delivering on our objectives and meeting the high standards our users expect and deserve.

Risk Management is a standing agenda item at board meetings. Using a traffic light system, over the past 12 months we have monitored our risks in relation to the law, operational matters, finance, and governance, taking action to reduce and manage risk where we could.

Our reserves policy is being reviewed to ensure that it reflects our future operational needs and will help us to respond to changing circumstances.

Lettings have returned to pre-Covid levels and we are reviewing hire fees with new fees expected to be applied from April 2025.

We are actively pursuing opportunities to make savings and efficiencies. We have:

As a result of the Grants and Operations Manager appointment, total funds secured from bids from September 2022 to May 2024 were £263,523 and further funding of £53,476 has recently been secured with more bids pending. Funds supporting capital expenditure are being used to improve our facilities and our flexibility to offer a more diverse range of activities, attracting new community centre users and new income. We continue to look for new funding opportunities to support our activities aimed at achieving a better balance between activities and services provided directly by SMCA and to reduce our reliance on income from room hire. Other positive indicators of future performance include:

Despite the challenges we have faced we have proved resilient, upgrading our facilities, diversifying our activities, building alliances and reaching more members of the community so we can make a real and lasting difference to people’s lives.

5

SOUTH MITCHAM COMMUNITY ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 (continued)

In light of the above, the board is satisfied that the necessary steps are being taken to build SMCA’s finances for the year 2024/25 and that we remain a going concern able to continue to operate for the next 12 months and beyond.

Risk

The trustees actively review the major risks that the charity faces on a regular basis. We have made good progress in reducing our risk levels but the current economic climate requires continued vigilance. The board is particularly alert to risks associated with succession planning; and with securing funds in a competitive environment to support activities aligned to local and borough priorities. Sound budgetary control, including identifying savings is a priority.

Trustees’ Responsibilities in Relation to the Financial Statements

The trustees are required under the Charities Act 2011 to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis). In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the appropriate law. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiners

The Board appointed Richard Place Dobson Services Limited 1-7 Station Road, Crawley, West Sussex, RH10 1HT as Independent Examiners.

The Trustees’ report was approved by the board of Trustees.

Acting Chair — Patricia Harrison

Date: 16 September 2024

6

SOUTH MITCHAM COMMUNITY ASSOCIATION

Independent Examiners Report FOR THE YEAR ENDED 31 MARCH 2024

I report to the Trustees on my examination of the financial statements of South Mitcham Community Association (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

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 financial statements to be reached.

Darren Harding ACA FCCA DChA

Richard Place Dobson Services Limited

1-7 Station Road Crawley West Sussex RH10 1HT Dated: ......................... 30 October 2024

7

SOUTH MITCHAM COMMUNITY ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Notes
Income from
Charitable Activities
2
Investment
Total
Expenditure on
Charitable Activities
3
Total
Net Income/(Expenditure)
Transfers between funds
Net movement in Funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
Total
Funds
2024
Total
Funds
2023
£
£
£
£
117,151
41,592
158,743
152,836
2,533
-
2,533
1,349
119,684
41,592
161,276
154,185
173,608
69,814
243,422
193,188
173,608
69,814
243,422
193,188
(53,924)
(28,222)
(82,146)
(39,002)
(3,123)
3,123
-
-
(57,047)
(25,099)
(82,146)
(39,002)
73,233
48,830
122,063
161,065
16,186
23,731
39,917
122,063

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

8

SOUTH MITCHAM COMMUNITY ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES (cont’d) FOR THE YEAR ENDED 31 MARCH 2024

Prior Year
Notes
Income from
Charitable Activities
2
Investment
Total
Expenditure on
Charitable Activities
3
Total
Net Income/(Expenditure)
Transfers between funds
Net movement in Funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
Total
Funds
2023
£
£
£
77,070
75,766
152,836
1,350
-
1,350
78,420
75,766
154,186
166,252
26,936
193,188
166,252
26,936
193,188
(87,832)
48,830
(39,002)
-
-
-
(87,832)
48,830
(39,002)
161,065
-
161,065
73,233
48,830
122,063

9

SOUTH MITCHAM COMMUNITY ASSOCIATION

BALANCE SHEET AT 31 MARCH 2024

Note 2024 2023
£ £
Fixed Assets
Tangible Fixed Assets 8 17,900 20,000
17,900 20,000
Current Assets
Debtors 9 2,360 7,733
Cash at Bank and in Hand 101,209 96,691
103,569 104,424
Creditors: amounts falling
due within one year 10 (81,552) (2,361)
Net Current Assets 22,017 102,063
Total Assets less Current Liabilities 39,917 122,063
Funds
Unrestricted 16,186 73,233
Restricted 23,731 48,830
11 39,917 122,063

16 September 2024 Approved by the Board of Trustees on ……………………………………………….and signed on its behalf by:

……………………………………………. Acting Chair: Patricia Harrison

10

SOUTH MITCHAM COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

a) Accounting Conventions

The Financial Statements have been prepared in accordance with applicable accounting standards under the historical cost convention and in accordance with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with 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 financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cashflows.

The financial statements are prepared in sterling, which is the functional currency of the charity.

b) Fund Accounting

Restricted Funds are those received which have been earmarked for a special purpose by the donor.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity.

c) Incoming Resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.

Voluntary income is received by way of grants and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the Charity, are recognised when the Charity becomes unconditionally entitled to the grant.

Activities for generating funds consist of room hire and are accounted for on a receivable basis. Surplus funds are invested in a bank deposit account to earn interest. Interest received is included when receivable. Interest is credited to the unrestricted fund to offset overheads. resources from the charitable activities consists of grants, which are related to performance and are accounted for as the Charity earns the right to consideration by its performance. Other sources of Incoming resources from the charitable activities consist of fees and Cafe takings accounted for on a receivable basis.

d) Resources Expended

Expenditure is recognised on an accrual basis as a liability is incurred. Cost of generating funds comprises the costs associated with attracting future Income.

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.

11

SOUTH MITCHAM COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024 (cont’d)

1. ACCOUNTING POLICIES (continued)

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the Independent Examination fees and costs linked to the strategic management of the Charity.

e) Investment income

Investment income is included in the statement of financial activities on an accrual basis.

f) Accounting basis

The accounts have been prepared on an accrual basis.

g) Going Concern

The trustees consider the Charity to be a going concern due to the reasons listed on pages 2 to 6, thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

h) Tangible fixed assets

The Charity is developing its Fixed Asset Policy. For these accounts depreciation is provided on all fixed assets and are depreciated over their economic life on a straight-line basis.

Works to Building 10% Fixtures & Fittings 20%

i) Cash and Cash Equivalent

Cash at bank and in-hand is held to meet short-term cash commitments as they fall due. The Charity holds no cash equivalents in the form of short-term highly liquid assets.

j) Financial Instruments

The Charity’s only financial instruments are cash, accounts receivable and accounts payable. The Charity has no loans or overdraft and holds no investments in shares, bonds or similar financial instruments.

k) Taxation

SMCA is a registered charity which is exempt from taxation on income arising from and expended on its charitable activities.

l) Retirement Benefits

The Charity operates a contributory scheme. Contributions payable by the Charity are charged to the Statement of Financial Activities in the period in which they relate.

m) Critical Accounting Estimates and Judgements

In the application of the charity’s accounting policies, the trustees 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.

12

SOUTH MITCHAM COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (cont’d)

2 Income from charitable activities

Donations
Grants- LBM
Grants- Others
Lettings
Activities and Events		 Unrestricted
Funds
Restricted
Funds
Total Funds
2024
Total Funds
2023
£
£
£
£
-
- - 927
44,228
- 44,228 42,880
-
41,592 41,592 37,365
68,586
-
68,586 64,487
4,337
- 4,337 7,177
117,151
41,592 158,743152,836
3
Expenditure on Charitable Activities
Direct costs
(Note 4)
Support
Costs (Notes
5 & 6)
£
£
Charitable Activities
145,425
97,997
4
Direct Costs
Staff Costs
Charitable Activities and Events
5
Support Costs
Professional Fees
Legal Fees
Accounting Costs
Office Expenses
Depreciation
General Expenses		 3
Expenditure on Charitable Activities
Direct costs
(Note 4)
Support
Costs (Notes
5 & 6)
£
£
Charitable Activities
145,425
97,997
4
Direct Costs
Staff Costs
Charitable Activities and Events
5
Support Costs
Professional Fees
Legal Fees
Accounting Costs
Office Expenses
Depreciation
General Expenses		 Total 2024
Total 2023
£
£
243,422 193,188
2024
2023
£
£
129,147 82,010
16,278 14,204
145,425 96,214
2024
2023
£
£
3,562 2,784
13 1,488
3,026 1,365
56,275 50,524
2,100
-
31,521 39,613
96,49795,774

6 Governance costs

Independent Examiner fees 2024
2023
£
£
1,500
1,200

13

SOUTH MITCHAM COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (cont’d)

7 Staff Costs:

Wages & Salaries
Employer's NI Costs
Employer's Pension Costs
No employee earned £60,000 per annum or more.
The total number of employees were:		 Total 2024
Total 2023
£
£
121,618 77,786
3,410 1,504
4,119 2,721
129,147 82,011
2024
2023
No.
No.
3
4

The remuneration of key management personnel during the year was £nil (2023: £nil)

8 Tangible Fixed Assets

Cost
At 1 April 2023
Additions
Disposal
As at 31 March 2024
Depreciation
At 1 April 2023
Charge for year
Eliminated on Disposal
As at 31 March 2024
Net book value
As at 31 March 2024
As at 31 March 2023		 Works to
Building
Fixtures &
Fittings
Total
£
£
£
19,000
1,000
20,000
-
-
-
-
-
-
19,000
1,000
20,000
-
-
-
1,900
200
2,100
-
-
-
1,900
200
2,100
17,100
800
17,900
19,000
1,000
20,000

14

SOUTH MITCHAM COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (Cont’d)

9 Debtors

Trade Debtors
Other Debtors
Prepayments		 2024
2023
£
£
1,718
6,836
-
300
642
597
2,360
7,733

10 Creditors - Amounts falling due within one year

2024 2023
£ £
Creditors 4,754 3,024
Accruals 3,700 1,200
Deferred Income (Note below) 73,098 (1,863)
TOTAL 81,552 2,361
Deferred Income:
LB Merton 73,098 -
Horizons - (357)
St Marks - (500)
Funds Accounts:
Wimbledon Guild - (581)
Warm & Well - (406)
Garden - (19)
73,098 (1,863)

15

SOUTH MITCHAM COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (Cont’d)

11 Movement of Funds

Restricted Funds:
Awards for All
Clarion
Clarion Futures 2023
Clarion Youth
Everyone Health
Home from Home
LBM
MVSC Community
Champions
WDNMBS
Capital Works
Children and young peoples
Seedlings
Womens project
Young at Heart
Unrestricted Funds:
SMCA		 Funds
B/F
31/3/2023
Receipts
Payments
Transfer
Funds
C/F
31/3/2024
£
£
£
£
£
5,045
-
-
-
5,045
2,000
14,878
(14,000)
-
2,878
2,500
-
-
-
2,500
1,201
-
-
-
1,201
578
-
-
-
578
10,045
-
(8,141)
-
1,904
24,806
-
(20,000)
-
4,806
2,500
-
-
-
2,500
155
-
-
-
155
-
12,832
(12,832)
-
-
-
-
(833)
833
-
-
2,383
(2,975)
592
-
-
11,499
(9,335)
-
2,164
-
-
(1,698)
1,698
-
48,830
41,592
(69,814)
3,123
23,731
73,233
119,684
(173,608)
(3,123)
16,186
122,063
161,276
(243,422)
-
39,917

12 Movement of Funds


Movement of Funds

Restricted Funds:
Awards for All
Clarion
Clarion Futures 2023
Clarion Youth
Everyone Health
Home from Home
LBM
MVSC Community Champions
WDNMBS
Unrestricted Funds:
SMCA		 Funds B/F
31/3/2022
Receipts
Payments
Transfer
Funds
C/F
31/3/2023
£
£
£
£
£
-
9,193
(4,148)
-
5,045
-
2,000
-
-
2,000
-
2,500
-
-
2,500
-
1,400
(199)
-
1,201
-
3,436
(2,858)
-
578
-
10,045
-
-
10,045
-
42,880
(18,074)
-
24,806
-
2,500
-
-
2,500
-
1,812
(1,657)
-
155
-
75,766
(26,936)
-
48,830
161,065
78,419
(166,252)
-
73,233
161,065
154,185
(193,188)
-
122,063

16

SOUTH MITCHAM COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (Cont’d)

13. Commitments under operating leases

At 31st March 2024, the Charity had annual commitments under non-cancellable operating leases as set out below:

leases as set out below:
Mobile Phone
Photocopier		 Due within
Due
between
Due over
Total
1 Yr
2 - 5 Yrs
5 Yrs
Due
425
708
-
1,133
1,080
1,620
-
2,700
1,505
2,328
-
3,833

14.

Analysis of net assets between funds

At 31 March 2024:
Tangible assets
Currents assets/(liabilities)
At 31 March 2023:
Tangible assets
Currents assets/(liabilities)		 Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
17,900
-
17,900
(1,714)
23,731
22,017
16,186
23,731
39,917
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
20,000
-
20,000
53,233
48,830
102,063
73,233
48,830
122,063

15. Related party transactions

No trustees or persons connected with them received any emoluments in their role as Trustees (2023 - nil).

17