REGIsfERED COMPANY NUMBER: 04328889 (England and Wales) REGisfERED CHARrrY NUMBER: 1105027 REPORT OF THE TRUSTEES AND UNAUDrrED FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 MARCH 2025 FOR SOUTMWATER AREA COMMUNrrY CENTRE Ashdown Hurrey Chartered Accountsnt & Business AdV￿er5 20 Havelock Road Hastlng5 East Sussex TN34 IBP soiirHWATER AREA COMMUNTfY CENTRE CONTENTS OF THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Report of the Trustees I to 2 Independemt Examiner's Report Statement of Flnancial Activities Balance Sheot Notes to the Hnanclal Statements 6 to 12 SOiTfHWATER AREA COMMUNrrY CENTRE (REGISfERED NUMBER: 04328889) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees who a￿ also dI￿rS of the tharity for the purposes of the CDmpanSes Act 2006, p￿sent their wlth the financlal statements of the chaiity for the year ended 31 Marth 2025. The tnjstees have adopted the p￿ViSIOnS of Accounting and Reportlng by Charities: Ststement of Recommended pract1￿ appllcable to chariti& preparing their accounts In accordance with the ￿nanCIal Reporting Standard appllcaLle in the UK and Republlc of Ireland (FFiS 102) (effective l January 2019). OBJEcfivES AND ACTIvrrIES Objectlves and Aims The p￿Mary obiettlve is to establish the communty trntre to promote the benefit of the inhabltsnts of the southwater renewal area and surroundlng area and the nelghljouthood wlthout d15tlnctlon of sex, sexual orientstion, ra￿ or of Iltlcal, relIg￿nS or other opinlons, by assoclatbng ￿Jether the sald habitants and the local authorltles, voluntary and other organisatk)ns in a mmrnon efforf( to advan￿ educatlon and to provlde faclllttes In the interest of soclal welfare for r￿reatIon and other leLsure time occupation wlth the object of improvlng the cortdltkin5 of Ilfe of the said Inhabitsnts. Grnntmaklng The charlty obJectlves are such that dI￿rt grants are not made as the tharlty aims to provlde a servi￿ to the commun5ty. ACHIEVEMENTS AND PERFORMANCE Charltsble Activltles The company has achleved its main objettlve in continulng to run the communty ￿ntre. The ability to increase the scope of its attlvities wlll depend upon the availablllty of funding In future year& FINANCIAL REVIEW ReseNes Policy The reseryes policy wllcy is to ensure that the trustees have a resm of £30,000 to k carrled in a deslgnated fund, to sure that the ￿ntre has suffldent reseNes Sn piatr to cover any potential downturn in Its Income stwm and to cover any ongoing Ilabllldes that arl* from such an event for at least eighteen manths. Any surplus over the £30,000 Is to be held in the general unrestrlcted fijnd. srRucfuRI GOVERNANCE AND MANAGEMENT Governlng document The charlty is controlled by Its govemlng documen¢ a deed of trust, and constitutes a Ilmlted companyi Ilmlted by guarantee, as defined by the Companles Art 2006. Rrfrultment and Appointment of New Trustee$ Any new appointments are at the recommendation of the board and may be any p•50n who Is willlng to work for the charfty's objecdves and whom the members of the board feel wlll te able to perform both thelr legal and professlonal responslbllities under charity and company law. Induction and Tralning of New Trustees In the vlew of the board all the trustees undertand the na￿re of the charfty and fully comply with the charftys current views of its progression. They are aware of ￿th their legal and professional responsibilltles under the charty and company law. The present tK￿rd would l¢)ok to make th15 knowledge available to any prospertive new board member to enable them to dlscharge thelr responsibllltles fulty. Relatsd Parties There were related paty transactions during the year. REFERENCE AND ADMINIsfRATIVE DEfAILS Registered Company number 04328889 (England and Wale5) Reglstered Chartty number 1105027 Registered offi 20 Havelock Road HastSngs East Sus TN34 IBP Page I SOUTHWATER AREA COMMUNrrY CEiwfRE (REGISTERED NUMBER: 04328889) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2025 P W Pragnell (de￿Sed 1.9.25) N C Slnden N P Terdre E Farkas Independent Examlner S Rosllng FCCA Ashdown Hurrey artered Accountant & Busine55 Advlsers 20 Havelock Road Hastings East Sussex TN34 IBP Approved by order of the board of trustees on . and slgned on Its behalf by: N C Sinden - Trustee Page 2 INDEPENDENf EXAMINER'S REPORT TO THE TRusfEES OF SOUTHWATER AREA COMMUNTfY CENTRE Independent examinerfs report to the trustees of Southwater Area Community Centre (Ihe Company.) I report to the charlty tnjstees on my examination of the accounts of the Q)mpany for the year ended 31 March 2025. Responsibilitleg and basls of repart the charity's bwstees of the Company (and a19) its dirtors for the purposes of company law) you a￿ resrK)nsible for the preparatjon of the accounts In accordan￿ with the ￿uIreMents of the Companles Act 2006 ('the 2006 Att,). Haviro sausfled myself that the accounts of the Company are not requlred to be audited under Part 16 of the 2006 Act and are ellgible for Independent examlnation, I reFQrt In respect of my examlnation of your tharlvs accounts as carried out under SeCtIc￿ 145 of the a)arltles Act 2011 (the 2011 ACV). In carrying out my examination I have followed the Dlrections glven by the Charity Commisslon under Settlon 145(5) (b) of the 2011 Act. lftdependent examiner's Jtatsment I have completed my examinatlon. I conflm that no matters have come to my attentlon in connection wlth the examinatlon giving me cause to believe: accountlng records were not kept in respett of the Company a5 requlred by Sedon 386 of the 2006 Act; or the accounts do not accord wlth those records, or the accounts do not comply with the accountlng requlrements of Settlon 396 of the 2006 Art other than any requlrement that the accounts give a true and falr vlew which Is not a matter conshjered as part of an Independent examinatlon; or the accounts have not b￿n prepa￿1 In accordan￿ with the methods and prfnciples of the Ststement of Recommended Prac￿0 for accountlng and reporting by charitles (applicable to charltle5 p￿parIng thelr accounts in accordan￿ wlth the Flnancial Reporting Standard appllcable In the UK and Republlc of Ireland (FRS 102)). I have no concerns and have come a(ross no other matters in connertlon wlth the examinatlon to which attentlon should be drawn in thls report In order to enable a proper understsndlng of the accounts to be reached. S Rosllno FCC4 Ashdown Hurrey Chartered Accountsnt & Buslness Advlsers 20 HaVe1￿k Road Hastlngs East Sussex TN34 IBP Date: ...... Page 3 SOUTHWATER AREA COMMUNrrY CENTRE STATEMENT OF FINANCIAL AcrivrrIES FOR THE YEAR ENDED 31 MARCH 2025 31.3.25 Total funds 31.3.24 Totsl funds Unrestricted Restrfcied funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 200 70,864 71,064 11,015 Other tradlng actwities Investsnent Income 34,425 34,425 39,756 505 Total 35,109 70,864 105,973 51,276 EXPENDtfuRE ON Ralslng funds Charltable attiviti Chariiable Actlvltles 39,253 6,080 45,333 49,867 Total 39,253 6,080 45,333 49,916 NEf INCOMEI(EXPENDITURE) Tran$f•rB between fund• (4,144) 54,998 64,784 (54,998) 60,640 1,360 13 Net movement In furbdl 50,854 9,786 60,640 1,360 RECONCIUATION OF FUNDS Totsl funds brought forward 29,331 12,154 41,485 40,125 TOTAL FUNDS CARRIED FORWARD 80,185 21,940 102,125 41,485 The notes form part of these financial 5tstements Page 4 SOUTHWATER AREA COMMUNITY CENTRE {REGisfERED NUMBER: 04328889) BALANCE SHEEr 31 MAR(112025 31.3.25 Total funds 31.3.24 Total funds Unresirlcted funds Restrlcted funds FIXED ASSErs Tangible assets io 54,115 54,115 1,793 CURRENf A55Ers Debtots Cash at bank li 3,327 27,867 3,327 49,807 12,433 32,197 21,940 31,194 21,940 53,134 CREDrroRS Amounts falling due wlthln one year 12 (5,124) (5,124) (4,938) NET CURRENT ASSErs 26,070 21,940 48,010 39,692 TOTAL ASSEfs LESS CURRENT LIABILITIES 80,185 21,940 102,125 41,485 NEf ASSETS 80,185 21,940 102,125 41,485 FUNDS Un￿StrIcted fund5 Restrlcted funds 13 80,185 21,940 29,331 12,154 TOTAL FUNDS 102,125 41,485 The charitable company Is entitl&J to exemption from audit under Section 477 {* the Companies l£t 2006 for the year ended 31 Mard) 2025. The members have not requlred the company to obtaln an audlt of its flnanclal statements for the year ended 31 March 2025 In acrordance wlth Sertion 476 of the Companies Att 2006. The trustees acknowledge thelr ￿sponsIbIl5t1es for (a) ensurlng that the charitable company keeps accountlng records that comply with Sectlons 386 and 387 of the Companies Act 2006 and preparlng flnancial statements whld) glve a true and falr vlew of the state of affalrs of the charitable company as at the end of each finandal year and of Its surplus or defidt for each flnanclal year In accordance wlth the requlremeDts of Sectlons 394 and 395 and which othe￿Ise comply wSth the requlrements of the Companle5 Att 2006 relating to finandal statements, so far as appllcable to the tharitsble company. These finandal ststements have been prepared In accordance with the p￿￿$10￿5 appllcable to charltsble companies subjett to the small CDmpanies reglme. anclal statements were approved by the Board of Trustees and authorised for Issue and were s19r￿d on Its behalf by.. (b) on N C Slnden - Trustee N P Terdre - Trustee The notes fom part of these financial statsmwts Page 5 SOUTHWATER AREA COMMUNifY CEpifRE NOTES TO THE FINANCIAL sfATEMEI4TS FOR THE YEAR ENDED 31 MARCH 2025 srATUTORY INFORMATION The Southwater Aw Community Centre is a private companyi litnited by guarantee, reglstered In England & Wales. The companV5 reglstered numter and registered offKe address can be found In the Report of the Trustee5, ACCOUNTING POLICIES Bagls of preparing th¢ financlal statements The financial Statements of the charitable company, whlch Is a publlc benefit enbty under FRS 102, have been prepared in accordan￿ wlth the Charities SORP {FRS 102) 'Accountlng and Reportlng by Charities.. Ststement of Recommended Pract1￿ appllcable to chafftles preparing their accounts In accordan￿ wlth the Flnanclal Reporting Standard appllcabie in the UK and Republlc of Ireland (FRS 102) (effecbve l January 2015),, Ffnanclal Reportlng Standard 102 The Financial Reportlng Standard applicable in the UK and Republlc of I￿nd. and the Companles Att 2006. The financlal statements have been prePa￿d under the hlstorlcal cost convention. Income All income Is rectynlsed In the Ststement of Flnanclal Actlvltles once the charlty has entitlement to the funds, It Is probable that the Income wlll be re￿IVed and the amount can be measured rellably. Expendlture Liabilities are recognlsed as expendlture as soon as there Is a legal or constructive obllgatlon commlttlng the chaffty to that expendlli1￿, It Is probable that a transfer of economlc benefits wlll be requlred in settlement and the amount of the obligatlon can be measur&J rellably. Expenditure Is accounted for on an accruals basis and has been classlfled under headlngs that aggregate all cost related to the category. Where costs cannot be dlrett attributed to partlcular headings they have been allocated to actlvltles on a basi5 con515tent wlth the use of resources. Tjnglble flxed assets Short Leasehold Premlses Equipment and Furnlture Improvements to Property - Straight Llne over perfod of lease - 25% on Reduclng Balan -stralght Line over period of lease Taxation The charlty Is exempt from corp)ratlon tax on ts charftable actlvltles. Fund accountlng Unrestrlcted funds can be US￿ In ac£ordano with the charStable objectlves at the discretion of the tru5tee5. Restrlcted funds can only be used for partlcular restritted purposes wfchln the objects of the charity. ReStrict￿)nS ari* when specified by the donor or when funds are raised for particular restrlcted pur￿Ses. Further explanation of the nature and purpose of each fund15 Included In the notes to the financial statements. Hire purchase and lea$ing commltments Rentsls pald under operating lease5 are charged to the Statement of Flnandal Actlvltles on a stralght Ilne basis over the period of the lease. Penslon Costs and other post-retlrement benerts The charltsble company operates a defined contrfbution Fension Scheme. Contrlbutlon5 payable to the charitsble company's penslon xheme are charged to the Statement of Financial ArtIvI￿e5 In the perfod to which they rdate, Grants In accordance wlth s24 of FRS 102 the* are treated uslng the accrnals model and so are recognlsed In Income on a systematic basis over the perfods In whkh the charity recognlses the related costs for which the grants a intended to compensote. Page 6 contlnued... SOUTHWATER AREA COMMUNrrY ￿NTRE NOTES TO THE FINANCtAL sfATEMErirs- continued FOR THE YEAR ENDED 31 MARCH 2025 OTHER TRADING ACTIvrrIES 31.3.25 31.3.24 HI￿ of premlses R￿t of offlce Tariff income (EDF) 21,019 11,954 1,452 20,770 17,289 1,697 34,425 39,756 INVESTMENT INCOME 31.3.25 31.3.24 DetTht ac￿Unt Interest 505 NEf INCOMEI{EXPENDifuRE) Net incomel(expenditure) Is stated after chargingl(credltlng): 31.3.25 31,3.24 Depredatlon - owned assets Other operatlng lease5 4,603 861 238 535 TRusfEES' REMUNERATION AND BENEFfTS There were no trustee5' remunerauon or other beneffts for the year ended 31 Marth 2025 nor for the year ended 31 March 2024. Tru•teu' oxpgnses Ihere were no trustees, expenses paKI for the year ended 31 March 2025 nor for the year erKled 31 March 2024. srAFF cosrs 31.3,25 31.3.24 Wages and salarles Other penston costs 19,614 312 18,034 273 19,926 18,307 The average rnOnth￿ number of emph)yees during the year was as follows: 31.3.25 31.3.24 Average monthly number of employees No empwes recelved emoluments in excess of £60,000, Page 7 continued... SOUTHWATER AREA COMMUNrrY CENTRE NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2025 COMPARATIVES FOR THE sfATEMENf OF FINANCIAL ACTivmES Unrestricted funds Restricted funds Totsl funds INCOME AND ENDOWMENTS FROM Donalons and legacies 660 10,355 11,015 Other tradlng actlvltles Investment Income 39,756 505 39,756 505 Totsl 40,921 10,355 51,276 EXPENDTTURE ON Ralslng fur￿$ 19 30 49 Chèritable actlvltles Charltable Activilies 43,114 6,753 49,867 Total 43,133 6,783 49,916 NEf INCOMEI(EXPENDrruRE) Tran$fers between funds (2,212) (4,983) 3,572 4,983 1,360 Net movement In funds (7,195) 8,555 1,360 RECONCIUATION OF FUNDS Total funds brought fotward 36,526 3,599 40,125 TOTAL FUNDS CARRIED FORWARD 29,331 12,154 41,485 INDEPENDENT EXAMINERS, REMUNERATION 31.3.24 31.3.23 Fees payable to the charty's Indep￿dent examlners for the Independent examination of the charfV5 flnandal stBtements Fees payable to the charws Independent examlners for the Independent eyzmlnalon of the charltntlnued Comparntlve net movement in funds, I[￿l￿ded In the above a￿ as follows: Incnmlng resouros ources expended Movement in funds Unrestrkted funds General fund 40,921 (43,133) {2,212) Réttrfcted fundg Crowdfunder The PCC For Sussex Hastlngs Round Table BlfPd Chalk aiff Trust (900) (500) (900) 500 500 8,955 500 8,955 (4,983) (4,983) (400) 400 10,355 {6,783) 3,572 TOTAL FUNDS 51,276 (49,916) 1,360 A current year 12 months and prfor year 12 months comblned position Is as follows: Net movement In funds Transfers be￿en fvnds At 31.3.25 At 1.4.23 Unr•stricted funds General fund Deslgnatsd funds 6,526 30,000 (6,356) 50,015 50,185 30,000 36,526 (6,356) 50,015 80,185 Restritted fund• (Jowdfunder Blffa Chalk aiff Trust Sussex Community Foundation 3,599 {3,599) 54,998 (2,869) 19,826 (54,998) 4,983 2,114 19,826 3,599 68,356 (50,015) 21,940 TOTAL FUNDS 40,125 62,oIXI 102,125 Page 11 continued... SOUTHWATER AREA COMMUNrrY CENTRE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 13. MOVEME1￿ IN FUNDS - continued A cUr￿t year 12 months and prfor year 12 months combined net movement In funds, Indud&J in the alN)ve are as follows: ]ncomlng resources Resources expended Movement In funds Unrestrl(ted funds neral fund 76,030 (82,386) (6,356) Re5tr1cted funds Crowdfunder The PCC For Sussex Hastlngs Round Table B5ffa Chalk aiff Trust (3,599) (500) (500) (2) (7,862) (400) (3,599) 500 500 55,000 4,993 400 19,826 54,998 (2,869) Sussex Communlty Foundallon 19,826 81,219 (12,863) 68,356 TOTAL FUNDS 157,249 (95,249) 62,000 Description of Rebtrlcted Funds CJowdfunder- A fund raising campalgn for'Improving A¢￿$ for Everyone at The affton Centre.. 14. RELATED PARTY DISCLOSURES During the year the charSty re￿IVed Income from Edit Farkas, a Trustee, for use of the charltvs facilities. The total amount recognlsed In the year was £825 (2024: £2,750). Page 12