Deepcut Village Association
Trustees’ Annual Report and Financial Statements
Year to 31 March 2022
Charity No. 1104727
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Deepcut Village Association
Trustees’ Annual Report and Financial Statements For Year Ending 31st March 2022
Contents
| Contents | |
|---|---|
| Page | |
| Trustees’ report | 3 - 7 |
| Independent Examiners report | 8 |
| Income and Expenditure Statement | 9 |
| Balance Sheet | 10 |
| Notes to Financial Statements | 11 - 13 |
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Deepcut Village Association Trustees’ Annual Report For Year Ending 31st March 2022
Reference and administrative details
Charity number 1104727 Registered office and operational address 89 Swordsman Road, Deepcut, Surrey, GU16 6BW Trustees who served during the year and up to the date Trustees of this report were as follows: James C Mitchell Angela J H Mitchell David Rushmer Howard J Hyde Dennis Obongonyinge Jamie Morgan
Bankers
Independent Examiner
Lloyds Bank plc 18 Prince of Wales Walk, Camberley, Surrey, GU15 3SJ J Kothari LLB Hons, FCCA
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Deepcut Village Association
Trustees’ Annual Report For Year Ending 31st March 2022
Report of the Trustees
The Trustees present their report and the independently examined financial statements for the year ended 31 March 2022.
Reference and administrative information set out on page 3 forms part of this report. The financial statements comply with the Statement of Recommended Practice - Accounting and Reporting by Charities (Charities SORP FRS 102).
Structure, governance & management
The organisation is a charity, registered on 02 July 2004 by constitution adopted on 19 January 2004.
All Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 1 to the accounts.
The Trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work for the 12 months in the year ending 31 March 2022. The Trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the Trustees ensure the charity's aims, objectives and activities remain focused on its stated purposes.
Objectives and activities
Deepcut Village Association exists to:
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To promote the benefit of the inhabitants of Deepcut (hereinafter called "the area of benefit") without distinction of sex, sexual orientation, race or of political, religious or other opinions, by associating together the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants;
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Establish, or secure the establishment of, a community centre (hereinafter called "the centre") and to maintain and manage the same (whether alone or in co-
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Deepcut Village Association
Trustees’ Annual Report For Year Ending 31st March 2022
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operation with any local authority or other person or body) in furtherance of these objects.
Promote such other charitable purposes as may from time to time be determined.
Activities in the past year
Although we had delivered financial stability in the preceding year, largely through a combination of manpower rationalisation and securing Grants, that period had seen little by way of a return to normality. The current year has seen a significant move towards normality, particularly during the second half. New hirers were secured and non-grant revenues moved up from around 25% to nearly 50% of pre-Covid levels, a trend that has continued beyond year-end.
As cost control has been a necessity we choose to reflect the much lower utilization of our facilities by reducing our expenditure on Repairs and Maintenance. However this has not jeopardized the high standard of both décor and furniture/equipment that has been core to our on-going success. This reduction, in conjunction with lower Utility Bills, contributed significantly to our overall costs falling by £6,844. Despite Grants falling by £15,141 Y-O-Y, our total Income only fell by £1,182 meaning that we moved from a loss of ££4,888 to a small profit of £775 and our reserves increased accordingly to £12,422 meaning we remain financially robust.
Future plans
Two main drivers will dominate. Firstly, the need to secure further increases in space utilization through securing new regular Users. In this regard we will endeavour to increase awareness within our community which is growing as a result of a major housing development project on the former Army Camp Site.
Secondly, to continue to maintain control over our cost structure. This will be delivered through sustaining new, more flexible, manning practices whilst also making long-term focussed investments as needed. In this latter category we will re-visit the possibility of installing Solar Panels to reduce our electricity costs. We will also pursue Grants to help this possible project.
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Deepcut Village Association
Trustees’ Annual Report For Year Ending 31st March 2022
Reserves policy
The Trustees have examined the charity’s requirements for reserves in light of the main risks to the organisation. Trustees are committed to generating enough reserves to support current organisational activities to meet the following requirements:
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Safeguarding the charity’s financial obligations in the event in the event of delays in customer payments
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Providing a financial cushion against risk and future uncertainties.
To this end, the Trustees have established a reserves policy that is reviewed annually to ensure that the appropriate levels of reserves are maintained and it is able to continue to fund its activities without unnecessary disruption as a result of peaks and troughs in income.
Total unrestricted funds at the year-end were £12,422 (£11,647 31 March 2021). These are represented entirely by net current assets. At 31 March 2022 we had approximately three months’ costs in reserves.
Statement of Responsibility of the Trustees
Our Trustees are responsible for preparing the report of the Trustees’ and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Trustees are aware:
- There is no relevant information of which the charity’s independent examiner is unaware; and
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Deepcut Village Association
Trustees’ Annual Report For Year Ending 31st March 2022
- The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information.
The Trustees are members of the charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity.
Dennis Obongonyinge ACMA CGMA Trustee (Treasurere)
20[th ] March 2023
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Deepcut Village Association Independent Examiners Report For Year Ending to 31st March 2022
Independent Examiner's Report to the trustees of Deepcut Village Association.
I report on the accounts for the year ended 31st March 2022 which are set out in the “The Trustees Annual Report” for year ended 31[st] March 2022.
This report is made solely to the trustees as a body, in accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the trustees as a body, for my examination, for this report, or for the opinions I have formed.
Respective responsibilities of the Trustees and Independent Examiner
The trustees are responsible for the preparation of the accounts. They consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the accounts of the charity are not required to be audited and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Basis of Independent Examiner's Statement
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:
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to keep accounting records in accordance with s.130 of the 2011 Act; or
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to prepare accounts which accord with these accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
J Kothari LLB Hons, FCCA 20[th] March 2023
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Deepcut Village Association Statement of Financial Activities For Year Ending to 31st March 2022
| Income from: Village Centre hire 1b Total Income Expenditure on: Charitable activities 1c Total expenditure Net income / (Expenditure) Balances brought forward as at 1 April 2020 Balances carried forward at 31 March 2021 |
2022 Unrestricted funds £ 38,307 |
2022 Total funds £ 38,307 38,307 37,532 37,532 775 11,647 12,422 |
2021 Total funds £ 39,489 |
|
|---|---|---|---|---|
| 38,307 | 39,489 | |||
| 37,532 | 44,376 | |||
| 37,532 | 44,376 | |||
| 775 11,647 |
(4,888) 16,535 |
|||
| 12,422 | 16,535 |
There were no recognised gains and losses for the year other than those included in the Statement of Financial Activities. All activities of the charity were derived from continuing activities.
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Deepcut Village Association
Balance Sheet
As at 31st March 2022
| Current Assets Debtors2 Cash at bank and in hand Total Current Assets CREDITORS: amounts falling due within one year Net Current Assets Net Funds Funds General Fund Funds carried forward |
2022 £ 5,415 11,308 16,723 (4,301) 12,422 12,422 12,422 12,422 |
2021 £ 3,653 12,700 |
|---|---|---|
| 16,353 (4,706) |
||
| 11,647 | ||
| 11,647 | ||
| 11,647 | ||
| 11,647 |
Approved by the Trustees on 20[th] March 2023 and signed on their behalf by:
Dennis Obongonyinge ACMA CGMA Trustee (Treasurer)
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Deepcut Village Association Notes to the Financial Statements
For Year Ending to 31st March 2022
1. ACCOUNTING POLICIES
The principal accounting policies adopted by the Trustees in the preparation of the financial statements are set out below. The accounting policies have been applied consistently throughout the year and in the preceding year.
a) Basis of Accounting
The financial statements are prepared in accordance with 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 I02), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS I02) and the Charities Act 201l. They are drawn up on the historical accounting basis. The charity meets the definition of a public benefit entity under FRS I02.
The financial statements have been prepared on a going concern basis.
b) Income
All income is recognised in the Statement of Financial Activities when the conditions for receipt have been met and there is reasonable assurance of receipt and the amount can be quantified with reasonable accuracy.
2022 2021 Total Total £ £ Village centre hire 38,307 39,489
c) Expenditure
Expenditure is recognised on an accrual basis when a liability is incurred. Expenditure include any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Expenditure on charitable activities comprise 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.
All costs are allocated between expenditure categories of the Statement of Financial Activities on a basis consistent with the use of resources. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
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Deepcut Village Association Notes to the Financial Statements For Year Ending to 31st March 2022
2022 2021 Total Total £ £ Charitable activities 37,532 44,376
d) Fund accounting
Unrestricted fund
This represents unrestricted income which is expendable at the discretion of the Trustees in furtherance of the objectives of the charity. Such funds may be held to finance both working capital and capital investment. The charity at present has no restricted or designated funds.
e) Tangible Fixed Assets
The charity acquired no large assets during the year. Any assets that cost less than £1,000 are written off in the year in the statement of financial activities.
f) VAT
The charity is exempt from VAT under HMRC registration threshold.
g) Charitable commitments
Charitable commitments which are legally binding on the Trustees are accounted for as expenditure in the Statement of financial Activities. Where the promise of financial support is not binding on the Trustees, such intentions are accounted for by a transfer to a designated reserve. Activities that are to be wholly financed from future income do not form part of such designation and are disclosed in a note to the accounts.
h) Employee
The charity had no employees throughout the year.
i) Payments to trustees
No Trustee or person related to or connected by business to them has received any remuneration from the charity during the year for carrying out their duties as Trustees.
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Deepcut Village Association Notes to the Financial Statements For Year Ending to 31st March 2022
2. DEBTORS
2022 2021 Total Total £ £ Debtors 5,415 53,653
3. CREDITORS: amounts falling due within one year
2022 2021 Total Total £ £ Creditors 4,301 4,706
4. TAXATION
The charity's activities are exempt from taxation under Section 505 of the Income and Corporation Taxes Act 1998.
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