REGISTERED COMPANY NUMBER: 04328889 (England and Wales) REGISTERED cHAlU NUMBER: 1105027 REPORT OF THE TRUSTEES AND UNAUDrrED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR SOUTHWATER AREA COMMUNITY CENTrE Ashdown Hurffy Charted Accountsnt & Buslness Advlser5 20 Havelock Road Hastings East Sussex TN34 IBP
soirrHWATER AREA COMMUNITY CENTRE CONTENTS OF THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Independent Examiner's Report statement of Flnanclal Artivities Balance Sheet Notes to the Financial Statements 6 to 11
soimiwATER AREA COMMUNITY CENTRE (REGIsfERED NUMBER: 04328889) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are al directors of the charty for the purposes of the Companies Act 2006, present their report with the flnancial statements of the charity for the year ended 31 March 2024. The tru5tee5 have adopted the provlslons of Accountlng and Reportlng by Charities: Statement of Recommended prattl applicable to charitles preparing thelr accounts In accordantr wlth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJEcfIvES AND AcfIvITIES Objectives and Alms The primary objettlve Is to establish the ccmmunty nt to promote the benefft of the inhabltants of the southwater renewal area and surroundlng area and the neIghbourho wlthout distinction of sex, sexual orlentatlon, ra or of polhtlcal, religions or other opinions, by assoclating together the said habltants and the local authorltles vduntary and other organlsatlons in a common effort to advance educatlon and to provlde facllities in the Interest of sodal welfare for recreatlon and other le15ure time wcupation with the object of Impn)vlng the condluons of Ilfe of the said Inhabitsnts. Grantmaking The charlty objectives are such that dlrert grants are not made as the chartty alms to provlde a servlce to the communty. ACHIEVEMENT AND PERFORMANCE Charitsble Actlvities The company has achleved its maln oblectlve In contlnuing to run the communlty centre. The ablllty to Increase the scope of Its attivities will depend upon the avallabllty of fundlng In future years. FINANCIAL REeW Reserve$ Pollcy The reserves policy polty 15 to ensure that the twstees have a reserve of £30,000 to be carried in a deslgnated fund, to ensure that the ntre has sufflclent serveS in Pla to cover any potentlal downturn in its Income stream and to cover any ongolng Ilabllltles that arlse from such an event for at least elghteen mnths. Any surplus over the £30,000 is to be held in the general UnstrICted fijnd. sTrucfuRE, GOVERNANCE AND MANAGEMENT Govemlng document The charity Is controlled by its governlng dccument, a d&d of trust, and constitutes a Ilmlted companyi limited by guarantee, as defined by the Companles Art 2006. Recruitment and Appointment of New Trustees Any new appointments are at the recommendation of the board and may be any person who is wllllng to work for the charity's objectfves and whom the members of the board feel will be able to perform both their legal and professional respon%bilitles under charity and company law. Induction and Tralning of New Trustees In the vlew of the board all the tru5tecs underand the nature of the charity and fully comply with the charlty's current views of its progresslon. They are aware of both their legal and professlonal respon5ibllltles under the charlty and company law. The psent board would look to make this knowledge available to any prospective new board member to enable them to dlscharge thelr responslbllltle5 fully. Related Partie$ There were related paty transactions durlng the year. REFERENCE AND ADMINisfRATIVE DEfAILS Re9iStered Company number 04328889 (England and Wales) Reglstered Charlty number 1105027 Reglstered office 20 Havelock Road Hastings East Sussex TN34 IBP Page I
SOUTHWATER AREA COMMUNrrY CENTRE (REGIERE0 NUMBER: 04328889) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 Trustees P W Pragnell N C Sinden N P Terdre E Farkas K J Towner (resigned 6.6.23) Independent Examiner S Rosling FCC4 Ashdown Hurrey Chartered Accountsnt & Bu51ne55 Advlsers 20 Havelock Road Hastings East sussex TN34 IBP Approved by ord r of the board of trust&s on .... and signed on its behalf by,. P W Pragnel - Trustee Page 2
INDEPENDEKf EXAMINER'S REPORT TO THE TRUSTEES OF SOUTHWATER AREA COMMUNITY CENTRE Independent examiner's report to the trustees of Southwater Area Communlty Centre ('the Company,) I report to the charty trustees on my examination of the accounts of the Cclnpany for the year ended 31 March 2024. Responslb511ties and basis of report As the charity's trusiees of the Company (and also Its direttcKs for the purpose5 of (CpanY law) you are reswnsible for the preparatlon of the acmunts in accordan with the requlrements of the Companles Act 2006 (Ihe 2006 Act,). Having satlsfied myself that the accounts of the Company are not requlred to be audited under Part 16 of the 2006 Att and are eligible for independent examination, I report in resFett of my examirkltion of your charity's accounts as carried out under Sectlon 145 of the Charltles Act 2011 ('the 2011 Att,). In carryin9 Out my examlnauon I have followed the Directlons given by the Charlty Commission under Settion 145(5) (b) of the 2011 Att, IrKlependent examlnerfs statsment I have completed my examlnation. I conflm that no matters have come to my attentlon In connectlon wlth the examlnation givlng me cause to belleve: accounting record5 were not kept in respett of the Company as required by Sectlon 386 of the 2006 Act. or the accounts do not accord wlth those records,. or the accounts do not ccmpty wlth the accountlng requirements of Section 396 of the 2006 Att other than any requlrement that the accounts glve a true and falr vlew which is not a matter consldered as part of an Independent examlnatlon,. or the accounts have not been prepared In ac£ordance wlth the meth&Js and prlnclples of the Ststement of Recommended PrartI for accountlng and pOrtIng by dBrltles (applicable to charltles preparing thelr accounts In accordance wlth the Financlal Repcrting Stsndard applicable In the UK and Republlc of Ireland (FRS 102)). I have no COnrnS and have ccffie across no other matters In connectlon with the examination to whlch attenon should be drawn in thls report in order to enable a proper understanding of the accounts to be reached. S Rosllng FCCA hshdown Hurrey Chartered Accountant & Business Advlsers 20 Havelock Road HastSngs East Su55ex TN34 IBP Date: ...,........ Page 3
SOUTHWATER AREA COMMUNITY CENTRE srATEMENT OF FINANCIAL Aa]VITIES FOR THE YEAR ENDED 31 MARCH 2024 31.3.24 Totsl funds 31.3.23 Totsl funds Unrestritted funds Restrltted funds Notes INCOME AND ENDOWMENTS FROM Erjnatlons and legacies 660 10,355 11,015 8,914 Other tradlng activities Investment income 39,756 505 39,756 505 31,993 146 Totsl 40,921 10,355 51,276 41,053 EXPENDITURE ON Raising funds 19 30 49 82 Charitable artlvlties Charitable Activitie5 43,114 6,753 49,867 46,605 Total 43,133 6,783 49,916 46,687 NET INCOMEI(EXPENDrruRE) Transfers between funds (2,212) (4,983 } 3,572 4,983 1,360 {5,634) 13 Net movement In funds (7,195) 8,555 1,360 (5,634) RECONCILIATION OF FUNDS Totsl funds brought forward 36,526 3,599 40,125 45,759 TOTAL FUNDS CARRIED FORWARD 29,331 12,154 41,485 40,125 The notes fom part of these flnanaal statement5 Page 4
SOUTHWATER AREA COMMUNITY CENTRE {REGIsfERED NUMBER: 04328889) BALANCE SHEET 31 MARCH 2024 31.3.24 Total funds 31.3,23 Totsl funds Unrestrirted funds Restricted funds Notes FIXED ASSETS Tangible assets io 1,793 1,793 2,031 CURRENT ASSETS Debtors Cash at bank li 3,478 28,998 8,955 3,199 12,433 32,197 3,553 38,095 32,476 12,154 44,630 41,648 CREDITORS Amounts falllrvJ due wSthln one year 12 (4,938) {4,938) (3,554) NET CURRENT ASSETS 27,538 12,154 39,692 38,094 TOTAL ASSETS LESS CURRENT LIABILMES 29,331 12,154 41,485 40,125 NET ASSErs 29,331 12,154 41,485 40,125 FUNDS Unrestricted funds Restrlcted funds 13 29,331 12,154 36,526 3,599 TOTAL FUNDS 41,485 40,125 The charltsble cc¥npany Is entitled to exemption from audlt under Sectlon 477 of the Companles Att 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audlt of Its flnanclal statements for the year ended 31 March 2024 In accordants with Sectlon 476 of the Companles Act 2006. The trustees acthowledge thelr responslbllities for (a) ensurlng that the charltable company keeps accountlng rettjrds that comply with Settions 386 and 387 of the Companles Act 2006 and preparlng financlal statements whlch 9lve a true and fair view of the state of affalrs of the chafftabie company as at the end of each flnanclal year and of its surplus or defiot for each financlal year In accordantr with the requlrements of Sections 394 and 395 and whlch otherwlse comply wlth the requirements of the Companles Act 2006 relating to financial ststements, so far as applicable to the charitable company. These financlal statements have been prepared in accordan wlth the provisions applicable to charltable companles subject to the small c¢mpanles regime. (b) The flnanclal statements were approved by the Board of Trustees and authorised for 155ue . and were signed on its behalf by: on pwp Trustee The notes form part of these finanoal ststements Page 5
SOUTHWATER AREA COMMUNITY CENTRE NOTES TO THE FINANCtAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 srATUTORY INFORMATION The Southwater Area Communlty Centre Is a private companyi limited by guarantee, registered in England & Wales, The company's registered number and registered Offi address can be found In the Report of the Trustees. ACCOUNTING POLICIES Basis of preparing the financial statements The financial ststements of the charitable company, whlch is a public benefit entity under FRS 102, have been prepared In accordance with the Charltles SORP (FRS 1021 'Accounting and Repong by Charities.. Ststement of Reccmmended Prattice applicable to charitle5 prepariThJ their accounts in accordan wlth the Flnancial Reportlng Stsndard applicable In the UK and Republic of Ireland {FRS 102) (effectlve l January 2015),, Finandal Reporting Standard 102 The Flnanclal Reporting Standard applicable in the UK and Rep¢Jblic of Ireland, and the Companles Act 2006. The financlal statements have been prepared under the historical cost onventlon. Income All income Is recognised in the Statement of Flnanclal Activities once the charity has entltlement to the funds, It Is probable that the income wlll be reIVed and the arnount rAn be measured rellably. Expenditure LiabilitlC5 are rec¢)Jnised as expenditure as soon as there Is a legal or construttlve obllgatlon committing the charity to that expenditure, it is probable that a transfer of economic benefits will bc roqulred In settlement and the amount of the obllgatlon can be measured reliably, Expenditure Is accounted for on an accrua15 basis and has been classlfled under headings that aggregate all c05t related to the category. Where costs cannot be dlrectly attributed to partlcular headlngs they have been allocated to actlvltles on a basis consistent with the use of resources. Tanglble flxed assets Short Leasehold Premlses Equlpment and Fumiture Straight Llne over perloj of lease 25Q/o on Reduclng Balance Taxatlon The charity is exempt from corporatlon tax on Its charitsble attlvltles. Fund accounting Unrestricted funds can be used in accordance wlth the charitable objectlves at the dlscretlon of the trustees. Restricted funds can only be used for partlcular restricted purpose5 Within the objects of the charity, Restrictlons arlse when specified by the donor or when funds are ralsed for partlcular restritted purposes. Further explanation of the nature and purpose of each fund 15 included In the notes to the financial Statements. Hire purchase and leasing commitments Rentals paid under operaung leases are charged to the Statement of Flnanclal ActlvitSes on a straight Ilne basls over the period of the lease. Penslon costs and other post-retlrement benefits The charitable company operates a defined contributlon penslon scheme. Contributions p3yable to the charitable company's pension scheme are charged to the Ststement of Financial Activltle5 In the perlcd to whlch they late, Grants In accordance with $24 of FRS 102 these are treated using the accruals model and so are rec(KJnised in income on a systematic basis over the periods in which the chanty recognlses the related c<)sts for which the grants are intended to compensate. Page 6 continued,.,
SOUTHWATER AREA COMMUNITY CENTRE NOTES TO THE FINANCIAL sfATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 OTHER TRADING ACTivrrIES 31,3.24 31.3.23 Hire of premlses Rent of office Tariff Income (EDF) 20,770 17,289 1,697 17,531 13,403 1,059 39,756 31,993 INVESTMENf INCOME 31.3.24 31.3.23 Deposlt account intsrest 505 146 NET INCOMEI{EXPENDrruRE) Net incomel(expenditure) Is stated after charglngl(credltlng): 31.3.24 31.3.23 Oepredatlon - owned assets Other operatlng leases 238 535 285 935 TRUSTEES, REMUNERATION AND BENEFITS There were no twstees, remuneratlon or other beneflts for the year ended 31 March 2024 nor for the year ended 31 March 2023. Tru8teeg' expense& There were no trustees, expenses pald for the year ended 31 March 2024 nor for the year ended 31 March 2023. srAFF cosrs 31.3.24 31.3.23 Wages and salaries Other penslon costs 18,034 273 14,608 177 18,307 14,785 The average monthty number of employees durlng the year was as follows: 31.3.24 31.3.23 Average monthly number of employees No employees reIVed emoluments in exce55 of £60,¢JOO. Page 7 continued...
SOUTHWATER AREA COMMUNITY CENfRE NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcrivrrIES UnStritted funds Restritt funds Totsl funds INCOME AND ENDOWMENTS FROM C*Jnatlons and legacies 5,315 3,599 8,914 Other trading actSvltles Investment income 31,993 146 31,993 146 Total 37,454 3,599 41,053 EXPENDITURE ON Raising funds 82 82 Charitable activities Charltable Attivities 46,605 46,605 Total 46,687 46,687 NET INCOMEI(EXPENDITURE) (9,233) 3,599 (5,634) RECONCILIATION OF FUNDS Total funds brought f¢Jrward 45,759 45,759 TOTAL FUNDS CARRIED FORWARD 36,526 3,599 40,125 INDEPENDENT EXAMINERS, REMUNERATION 31.3,24 31.3.23 Fees payable to the charlty's independent examlners for the Independent examination of the charity's flnancial statements Fees payable to the charlty's Independent examiners for the Independent examSnation of the charity's flnanclal ststements - Prior year Fees payable to the charity's Independent examiners for other seNlces 2,700 1,680 300 1,064 1162) 917 4,064 3,934 10. TANGIBLE FtXED ASSETS Short leasehold Equlpment & Furnlture Totals COST At l April 2023 and 31 March 2024 2,535 27,549 30,084 DEPRECIATION At l April 2023 Charge for year 1,053 ioi 27,000 137 28,053 238 At 31 March 2024 1,154 27,137 28,291 NET BOOK VALUE At 31 March 2024 1,381 412 1.793 At 31 March 2023 1,482 549 2,031 Page 8 contlnued...
SOUTHWATER AREA COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ii. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade debtors Other debtors Prepayments and accrued income 713 166 11,554 1,808 172 1,5n 12,433 3,553 12. CREDITORS: AMOUNTS FALLING DUE THIN ONE YEAR 31,3.24 31.3.23 Trade creditors Soclal security and other taxes other credltors Accrued expenses 470 161 1,607 2,700 14 1,676 1,680 4,938 3,554 13. MOVEMENT IN FUNDS Net movement In funds Transfers been funds At 31.3.24 At 1.4.23 Unregtrlcted funds General fund Ceslgnated funds 6,526 30,000 (2,212) (4,983) {669) 30,000 36,526 (2,212) (4,983) 29,331 Restrlrted fundg Crowdfunder Hastings Round Table Blffa Chalk Cllff Trust 3,599 (900) 500 8,955 (4,983) 500 8,955 4,983 3,599 3,572 4,983 12,154 TOTAL FUNDS 40,125 1,360 41,485 Net movement in funds, Induded In the above are as follows., Incomlng sour5 Resour$ expended Movement in funds Unrestrlcted funds General fund 40,921 (43,133) {2,212) Restrirted funds Crowdfunder The PCC For Sussex Ha5tings Round Table Blffa Chalk aiff Trust (900) (500) {9CM)) 500 500 8,955 500 8,955 14,983) (4,983) (400) 10,355 (6,783) 3,572 TOTAL FUNDS 51,276 (49,916) 1,360 Page 9 contlnued...
SOUTHWATER AREA COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 13. MOVEMENT IN FUNDS - Cfjntinued Comparatives for movement in funds Net movement In funds At 31.3.23 At 1.4.22 Unrestricted funds General fund Designated funds 15,759 30,000 19,233) 6,526 30,000 45,759 (9,233) 36,526 RestriLtsd funds Crowdfunder 3,599 3,599 TOTAL FUNDS 45,759 (5,634) 40,125 Comparatlve net movement In funds, Included In the above are as follows.. Incoming resources Resources expended Movement In funds Unrestricted fund8 General fund 37,454 146,687) (9,233) Restrlcted funds Crowdfunder 3,599 3,599 TOTAL FUNDS 41,053 (46,687) 15,634) A current year 12 months and prior year 12 months combined posStlon is as follows,, Net movement In funds Transfers between fund5 At 31.3.24 At 1.4.22 Unrestrlcted funds General fund Designated funds 15,759 30,000 (11,445) (4,983) (669) 30,000 45,759 (11,445) (4,983) 29,331 Restrlcted funds Crowdfunder Hastlngs Round Table Blffa Chalk Cliff Trust 2,699 500 8,955 (4,983) 2,699 500 8,955 4,983 7,171 4,983 12,154 TOTAL FUNDS 45,759 (4,2741 41,485 Page 10 continued...
SOUTHWATER AREA COMMUNrrY CEMfRE NOTES TO THE FINANCIAL sfATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 13. MOVEMENT IN FUNDS - contlnued A current year 12 months and prior year 12 months comblned net movement in funds, included in the above are as follows.. Incomlng resourtrs Resources expended Movement in fvnd5 Unrestricted funds General fund 78,375 (89,820) (11,445) Restrlcted funds Crowdfunder The PCC For Sussex Hastings Round Table Biffa Chalk Cliff Trust 3,599 500 500 8,955 (900) (500) 2,699 500 8,955 (4,983) (4,9831 (400) 400 13,954 (6,783) 7,171 TOTAL FUNDS 92,329 {96,603) (4,274) Dexrlption of Restricted Funds Crowdfunder - A fund ralslng campalgn for "Improving A$$ for Everyone at The Clifton Centre" 14. RELATED PARTY DISCLOSURES During the year the charity received inccffle from Edit Farkas, a Trustee, for use of the charlty's faalitie5. The totsl amount recLsJnlsed In the year was £2,750 (2023: £2,375). Page 11