**Charity registration number 1102382**
**Company registration number 04989222 (England and Wales)**
**LINWOOD COMMUNITY CO-OPERATIVE LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
S J Ford J M Freeman L E Johnston B B Massie J Wood S E Johnston
**Charity number** 1102382 **Company number** 04989222 **Registered office** Kingswood Community Centre Alberta Close Corby Northamptonshire NN18 9HU
## **Independent examiner**
Moore Oakley House Headway Business Park 3 Saxon Way West Corby Northamptonshire NN18 9EZ
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Chair's report|1|
|Trustees' report|2 - 4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8 - 16|
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **CHAIR'S REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
It has been another busy year for Linwood Community Cooperative, operating both Kingswood Neighbourhood Centre and Corby Old Village Community Centre.
Both Kingswood and Old Village continue to offer halls and meeting rooms for hire for groups.
Kingswood Neighbourhood Centre offers a wider community offer to support the local community, the community café is open 5 days a week.
The national lottery funded project that Linwood CC is leading, The Kingswood Urban Development Project (KUD) completed the capital part of the project with the brand new skatepark that was codesigned by the community.
Linwood hosted a KUD Celebration event inviting the community and external partners to the official opening of the Kingswood Urban Development Project.
A Youth Sport Coordinator has been employed and is working specifically on the Kingswood estate based at Kingswood Neighbourhood Centre, the purpose of the role is to provide a young people sports offer engaging the young people to codesign their own activities through a youth steering group.
Sport activities kicked off the KUD Project with Winter and summer football camps, Halloween craft group, DJ workshops, Calisthenic School event working with Kingswood Primary School and Northamptonshire Sport, multi sport sessions, Northampton Town Premier Kicks Programme, archery taster sessions and an All About Youth Event inviting local young people to come and speak to services available to them.
Kingswood Neighbourhood Centre held our annual events including Easter party event where 320 easter eggs were handed out, Halloween party where 250 people attended and Christmas event to come and meet santa and reindeer over 250 people attended. Several inflatable days were put on throughout the year attracting over 194 people each time.
Through the Youth offer Linwood identified the need for activities for children with Special Educational needs and disabilities, Linwood hosted its first SEND Inflatable session with reduced numbers, with 42 people attending.
Linwood received funding to take Kingswood and Hazel Leys families on a trip to Blackpool, 53 people attended went to see the Christmas light switch on and spend the day in Blackpool.
Kingswood Neighbourhood Centre has continued to upgrade the facility by securing funding to upgrade the main hall entrance doors and the foyer carpet entrance area.
Linwood Community Cooperative won the North Northants Active Community awards 2023 for the Community Organisation / Group of the year for the KUD project
Kingswood Neighbourhood Centre is still running the Food bank and is open 3 times per week, it had seen a large increase in service users and has distributed 1671 food parcels and 1451 toiletry parcels, delivered 120 food parcels locally on Kingswood and given out 800 fresh and frozen parcels.
Linwood received Household Support Fund3 for the distribution of brand new white good items, we gave out 18 washing machines, 11 fridge freezers, 9 cookers and 10 small electrical items
Linwood also supported the cost of living by helping people with Gas and Electric Support, 84 people benefitted from this support.
J Wood **Chairman**
Date: 20 December 2024
- 1 -
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
The trustees present their annual report and 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 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**
The charity's main objective is the provision of community facilities which operate from a local community centre.
The trustees aim is to make the community centre sustainable and provide a warm and welcoming environment for the local community and to forge links with the local authorities and council.
The trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
## **Social investments**
The charity enables local residents and organisations to come together and through the provision of facilities and support to local groups enable the community to grow together and bring positive changes to their lives and futures.
## **Volunteers**
The charity is grateful for the support and effort of its volunteers who have given valuable time in managing the centre, organising activities, gardening and ensuring that the centre is a valuable community asset. Their hard work alongside prudent management has helped to mitigate any financial burden and has enabled the community centre to thrive.
All of our staff and volunteers hold food hygiene Level 2 qualifications providing excellent service to our users. We are always looking for volunteers to support our staff and training plans are subsidised to enable more formal qualifications to be gained.
## **Achievements and performance**
The food bank, which was created during the pandemic has seen increased funding from various sources, whilst also seeing an increased audience as inflation has significantly impacted the community.
The success of the foodbank has enabled the cooperative to branch out, with the added ability to provide 'brand new white goods' in addition to offering supplementary support for gas and electricity payments.
The trustees' believe the surface is only just being scratched with regards to the support required and expect to see an further increase to numbers for 2024/25.
## **Significant activities**
One of our main activities this year has been the continuation of the food bank and donations of food parcels to our local community. This service continues to grow with demand only expected to keep increasing in to the new financial year.
The youth club opened in April 2021 continued to go from strength to strength with the introduction of the new Youth Sport Coordinator. This combined with the added ability to offer extended activities provided by external delivery partners have ensured the local children are still provided with a safe,happy and friendly environment to engage in.
## **Achievements against objectives**
We have linked with several organisations and partners to access and apply for funding from Reaching Communities for £300k. This funding has been used to update the local play area to provide a free outdoor space for the community and financed the employment of a full time Youth Sport Coordinator on a three year contract.
- 2 -
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **Financial review**
Core funding is received from North Northamptonshire Council and the contribution received in the current year amounted to £78,200 (2023: £47,900). Other grant funding has seen a increase from regular contributors also, the amounts received in the current year amounted to £59,546 (2023: £41,784).
Income from cafe sales and facility hire amounted to £94,602 (2023: £95.970).
Through careful control of costs the trustees are pleased to report a surplus for the year of £120,790 (2023: £80,788).
The charity holds £369,299 unrestricted reserves at the year-end (2023: £327,658).
It is the aim of the charity to hold reserves representing six months operating costs. At 31 March 2024 the trustees are pleased to report reserves held in excess of this amount.
The charity also holds £127,596 (2023: £48,447) in a restricted fund, this has been earmarked by the charity to help local groups to get established and become sustainable.
## **Going concern**
Despite healthy cash reserves, there is a concern about the future of the community centre as the potential loss of Local Authority funding becomes a possibility. This funding has been instrumental in keeping the centre; clean, heated and maintained and without it this site would likely now be derelict
## **Structure, governance and management**
Linwood Community Co-operative Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 9 December 2003 (updated 3 August 2011). It is registered as a charity with the Charity Commission. Anyone over the age of 18 can become a member of the company; at the year-end there were five members.
The charity has six trustees, the majority of who are also directors. Collectively they form a management committee together with other members; they will make the final decisions with regard to staffing, recruitment, policy making and finance. they meet on a monthly basis.
Mrs Lynn Johnston trustee and director is responsible for the day to day management of the charity.
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:
S J Ford
J M Freeman
L E Johnston B B Massie J Wood S E Johnston
The current trustees and directors have been recruited from volunteers within the local community. recruitment is advertised internally for vacancies and approaches made to community user groups.
All new trustees are given a copy of the memorandum and articles of association and instructed on the duties and responsibilities of a charity trustee. All the trustees are familiar with the work of the charity as they all are or have been members.
## **Pay policy for senior staff**
The management committee are responsible for recruitment and setting pay policy. Pay and salaries are reviewed annually by the committee and are set with reference to government and local authority guidance as budgets permit.
- 3 -
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
The trustees' report was approved by the Board of Trustees.
J Wood **Trustee**
20 December 2024
- 4 -
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
We report to the trustees on our examination of the financial statements of Linwood Community Co-operative Limited (the charity) for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied ourselves that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, we report in respect of our examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. We confirm that we are qualified to undertake the examination because we are a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
We have completed our examination. We confirm that no matters have come to our 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 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting 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).
We 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.
Oakley House Headway Business Park 3 Saxon Way West Corby Northamptonshire NN18 9EZ
Dated: 20 December 2024
- 5 -
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
138,746
142,208
Charitable activities
**3**
97,692
-
Investments
**4**
845
-
**Total income**
237,283
142,208
**Expenditure on:**
Charitable activities
**5**
195,641
63,059
**Total expenditure**
195,641
63,059
**Net income and movement in**
**funds**
41,642
79,149
**Reconciliation of funds:**
Fund balances at 1 April 2023
327,658
48,447
**Fund balances at 31 March**
**2024**
369,300
127,596|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
280,954
91,990
45,089
97,692
95,970
-
845
153
-
379,491
188,113
45,089
258,700
121,357
31,057
258,700
121,357
31,057
120,791
66,756
14,032
376,105
260,902
34,415
496,896
327,658
48,447|**Total**
**2023**
**£**
137,079
95,970
153|
|---|---|---|
|||233,202
152,414|
|||152,414|
|||80,788
295,317|
|||376,105|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 6 -
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2024**_
|**Notes**
**Fixed assets**
Tangible assets
**9**
**Current assets**
Debtors
**10**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**11**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Restricted income funds
**12**
Unrestricted funds
**13**|**2024**
**£**
5,413
499,628
505,041
(9,828)|**£**
1,683
495,213
496,896
127,596
369,302
496,896|**2023**
**£**
7,305
369,770
377,075
(3,385)|**£**
2,415
373,690|
|---|---|---|---|---|
|||||376,105|
|||||48,447
327,658|
|||||376,105|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 20 December 2024
J Wood
## **Trustee**
Company registration number 04989222 (England and Wales)
- 7 -
**LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **Charity information**
Linwood Community Co-operative Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Kingswood Community Centre, Alberta Close, Corby, Northamptonshire, NN18 9HU.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets. 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 or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
All incoming resources are included in the statement of financial activities when the Charity is legally entitled to the income after any performance conditions have been met and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received from the provision of cafeteria facilities and hiring community facilities in order to raise funds and is recognised when entitlement has occurred.
Income from local government grants and other grants, whether capital grants or revenue grants, are recognised when the charity has entitlement to the funds and any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably.
- 8 -
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
## **Cost of generating funds**
Expenditure is classified under the following activity headings:
Expenditure on charitable activities includes the costs of supplies to the cafeteria facilities, salaries and employer's costs of the provision of community centre facilities and other governance costs.
Other expenditure represents those items not falling into any other heading.
## **Charitable activities**
Expenditure on charitable activities includes the costs of supplies to the cafeteria facilities, salaries and employer's costs of the provision of community centre facilities and other governance costs.
## **Allocation and appointment of costs**
Support costs are those costs that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs; they are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings, they have been allocated to expenditure on charitable activities on a basis consistent with the use of the resources.
## **Donated services and facilities**
The value of services provided by volunteers are not incorporated into these financial statements. Further details can be found in the Trustees' report.
## **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:
Fixtures and fittings 20% reducing balance Computers 33% reducing balance
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 the statement of financial activities.
## **1.7 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).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
- 9 -
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **(Continued)**
## **1.9 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 amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities are 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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 amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.10 Taxation**
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in paragraph 1 schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
## **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.
- 10 -
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **2 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Donations and gifts
1,000
-
Grants received
137,746
142,208
138,746
142,208
**Grants receivable for**
**core activities**
North Northants
Council
78,200
-
Defra and NCF
-
-
KUD Project
-
120,112
Others
59,546
22,096
137,746
142,208|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
1,000
2,306
-
279,954
89,684
45,089
280,954
91,990
45,089
78,200
47,900
-
-
7,000
-
120,112
-
45,239
81,642
34,784
(150)
279,954
89,684
45,089|**Total**
**2023**
**£**
2,306
134,773|
|---|---|---|
|||137,079|
|||47,900
7,000
45,239
34,634|
|||134,773|
## **3 Income from charitable activities**
|**Kingswood**
**Community**
**Centre**
**Corby Old**
**Village**
**Community**
**Centre**
**2024**
**2024**
**£**
**£**
Cafe sales
21,498
-
Income from facilities
47,120
29,074
68,618
29,074|**Total**
**Kingswood**
**Community**
**Centre**
**Corby Old**
**Village**
**Community**
**Centre**
**2024**
**2023**
**2023**
**£**
**£**
**£**
21,498
18,313
-
76,194
42,424
35,233
97,692
60,737
35,233|**Total**
**2023**
**£**
18,313
77,657|
|---|---|---|
|||95,970|
## **4 Income from investments**
Interest receivable
|**Unrestricted**|**Unrestricted**|
|---|---|
|**funds**|**funds**|
|**2024**|**2023**|
|**£**|**£**|
|845|153|
- 11 -
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **5 Expenditure on charitable activities**
|**Kingswood**
**Community**
**Centre**
**Corby Old**
**Village**
**Community**
**Centre**
**2024**
**2024**
**£**
**£**
**Direct costs**
Activities undertaken
directly
187,126
-
**Share of support and governance costs (see note 6)**
Support
28,378
-
Governance
25,153
18,043
240,657
18,043
**Analysis by fund**
Unrestricted funds
177,598
18,043
Restricted funds
63,059
-
240,657
18,043|**Total**
**Kingswood**
**Community**
**Centre**
**Corby Old**
**Village**
**Community**
**Centre**
**2024**
**2023**
**2023**
**£**
**£**
**£**
187,126
81,966
-
28,378
27,733
-
43,196
30,999
11,716
258,700
140,698
11,716
195,641
109,641
11,716
63,059
31,057
-
258,700
140,698
11,716|**Total**
**2023**
**£**
81,966
27,733
42,715|
|---|---|---|
|||152,414|
|||121,357
31,057|
|||152,414|
- 12 -
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**6**
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Trustee salaries
(Kingswood Community
Centre)
28,378
-
Depreciation
-
732
Rates (Kingswood
Community Centre)
-
3,503
Light and heat
(Kingswood Community
Centre)
-
10,491
Insurance (Kingswood
Community Centre)
-
1,224
Repairs and
maintenance (Kingswood
Community Centre)
-
5,126
Cleaning costs
(Kingswood Community
Centre)
-
580
Telephone (Kingswood
Community Centre)
-
313
Printing, postage and
stationery (Kingswood
Community Centre)
-
54
Sundry expenses
(Kingswood Community
Centre)
-
435
Bank charges
(Kingswood Community
Centre)
-
64
Accountancy (Kingswood
Community Centre)
-
2,271
Bookkeeping and payroll
(Kingswood Community
Centre)
-
360
Software and licences
(Kingswood Community
Centre)
-
-
Bad debts written off
(Kingswood Community
Centre)
-
-
Rates, light and heat,
and insurance (Corby
Old Village Community
Centre)
-
14,311
Repairs and
maintenance (Corby Old
Village Community
Centre)
-
2,980
Cleaning costs (Corby
Old Village Community
Centre)
-
366
28,378
43,196|**2024**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
**£**
28,378
27,733
-
732
-
940
3,503
-
3,286
10,491
-
10,341
1,224
-
970
5,126
-
11,103
580
-
672
313
-
283
54
-
95
435
-
13
64
-
64
2,271
-
2,253
360
-
669
-
-
178
-
-
132
14,311
-
9,886
2,980
-
912
366
-
627
71,574
27,733
42,715|**2023**
**£**
27,733
940
3,286
10,341
970
11,103
672
283
95
13
64
2,253
669
178
132
9,886
912
627|
|---|---|---|
|||70,448|
- 13 -
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**6**
**Support costs**
Analysed between
Charitable activities|28,378|43,196|71,574|27,733|**(Continued)**
42,715
70,448|**(Continued)**
42,715
70,448|
|---|---|---|---|---|---|---|
|||||||70,448|
## **7 Employees**
The average monthly number of employees during the year was:
||**2024**|**2023**|
|---|---|---|
||**Number**|**Number**|
||4|3|
|**Employment costs**|**2024**|**2023**|
||**£**|**£**|
|Wages and salaries|28,378|27,733|
There were no employees whose annual remuneration was more than £60,000.
## **8 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **9 Tangible fixed assets**
|**Fixtures and**
**fittings**
**Computers**
**£**
**£**
**Cost**
At 1 April 2023
2,061
9,385
At 31 March 2024
2,061
9,385
**Depreciation and impairment**
At 1 April 2023
1,313
7,718
Depreciation charged in the year
166
566
At 31 March 2024
1,479
8,284
**Carrying amount**
At 31 March 2024
582
1,101
At 31 March 2023
748
1,667|**Total**
**£**
11,446|
|---|---|
||11,446|
||9,031
732|
||9,763|
||1,683|
||2,415|
- 14 -
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **10 Debtors**
|**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income|**2024**
**£**
4,814
599
5,413|**2023**
**£**
6,640
665|
|---|---|---|
|||7,305|
## **11 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
|Other taxation and social security
Other creditors
Accruals and deferred income|**2024**
**£**
3,641
4,171
2,016
9,828|**2023**
**£**
-
1,432
1,953|
|||3,385|
## **12 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At**|**1 April**|**Incoming**|**Resources**|**At 31 March**|
|---|---|---|---|---|---|
|||**2023**|**resources**|**expended**|**2024**|
|||**£**|**£**|**£**|**£**|
|||48,447|142,208|(63,059)|127,596|
|**Previous year:**|**At**|**1 April**|**Incoming**|**Resources**|**At 31 March**|
|||**2022**|**resources**|**expended**|**2023**|
|||**£**|**£**|**£**|**£**|
|||34,415|45,089|(31,057)|48,447|
## **13 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 April**|**Incoming**|**Resources**|**At 31 March**|
|---|---|---|---|---|
||**2023**|**resources**|**expended**|**2024**|
||**£**|**£**|**£**|**£**|
|General funds|327,658|237,283|(195,640)|369,301|
- 15 -
## **LINWOOD COMMUNITY CO-OPERATIVE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**13**|**Unrestricted funds**||||||**(Continued)**|
|---|---|---|---|---|---|---|---|
||**Previous year:**|**At 1 April**||
**Incoming**||**Resources**|**At 31 March**|
||||**2022**|**resources**||**expended**|**2023**|
||||**£**||**£**|**£**|**£**|
||General funds|260,902|||188,113|(121,357)|327,658|
|**14**|**Analysis of net assets between funds**|||||||
|||**Unrestricted**|**Material**||**Restricted **|**Endowment**|**Total**|
|||**funds**|**funds**||**funds**|**funds**||
|||**2024**||**2024**|**2024**|**2024**|**2024**|
|||**£**||**£**|**£**|**£**|**£**|
||**At 31 March 2024:**|||||||
||Tangible assets|1,683||-|-|-|1,683|
||Current assets/(liabilities)|367,619||-|127,594|-|495,213|
|||369,302||-|127,594|-|496,896|
|||**Unrestricted**|**Material**||**Restricted **|**Endowment**|**Total**|
|||**funds**|**funds**||**funds**|**funds**||
|||**2023**||**2023**|**2023**|**2023**|**2023**|
|||**£**||**£**|**£**|**£**|**£**|
||**At 31 March 2023:**|||||||
||Tangible assets|2,415||-|-|-|2,415|
||Current assets/(liabilities)|325,243||-|48,447|-|373,690|
|||327,658||-|48,447|-|376,105|
- 16 -