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2022-10-31-accounts

Deal and Walmer Community Association The Landmark Centre, 129 High Street, Deal, Kent, CT14 6BB

Registered Number: 05170251

Date: ………………….

McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL

Dear Sirs

The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your report on the Charitable Company’s financial statements for the year ended 31 October 2022. These enquiries have included inspection of supporting documentation where appropriate. All representations are made to the best of our knowledge and belief.

GENERAL

  1. We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with International Standards on Auditing (UK) and that you do not express an audit opinion.

  2. We confirm that the Charitable Company qualifies as small in accordance with the conditions set out in chapter 1 of part 15 of the Companies Act 2006.

  3. We confirm that the Charitable Company was entitled to exemption under section 477 of the Companies Act 2006 from the requirement to have its financial statements for the financial year ended 31 October 2022 audited. We also confirm that the members have not required the Charitable Company to obtain an audit of its financial statements for the financial year in accordance with section 476 of the Companies Act 2006.

  4. We have fulfilled our responsibilities as trustees, as set out in the terms of your engagement letter dated 7 August 2017 under the Companies Act 2006, for preparing financial statements (which you have prepared on our behalf) in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice), and for being satisfied that they give a true and fair view.

  5. All the transactions undertaken by the Charitable Company have been properly reflected and recorded in the accounting records.

  6. All the accounting records and related financial information, including minutes of all management and shareholders’ meetings have been made available to you for the purpose of your work.

ASSETS AND LIABILITIES

  1. The Charitable Company has satisfactory title to all assets and there are no liens or encumbrances on the Charitable Company’s assets, except for those that are disclosed as applicable in the notes to the financial statements.

  2. The net book amounts at which fixed assets are stated in the Balance Sheet were arrived at after providing for depreciation on a scale sufficient to cover obsolescence as well as wear and tear and thus to reduce the net book amounts of the assets to their residual value by the time they become no longer economically useful to the Charitable Company.

  3. At the balance sheet date there were no material commitments under contracts placed for capital expenditure.

  4. In arriving at the amount at which stock and work in progress is stated in the Balance Sheet:

  5. (a) Account has been taken of the whole of the raw materials, stores, work in progress and finished products in the Charitable Company's ownership at the Balance Sheet date, wherever located;

  6. (b) Adequate allowance has been made for all prospective losses on realisation of these and other stocks, including those expected because stocks are redundant, obsolete, excessive or defective.

  7. The other current assets shown in the Balance Sheet are all expected to produce on realisation in the ordinary course of business at least the amounts at which they are stated.

  8. In particular, we believe that the amount of £36,258 due from Spires Hospitality (Deal) Ltd is fully recoverable. Indeed, we confirm our financial support of that company for the foreseeable future.

  9. All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as applicable. The amounts treated in the Balance Sheet as provisions for liabilities, losses and diminution in value of assets are not greater than the sums reasonably required for those purposes.

  10. All income which arose up to the date of the Balance Sheet has been brought into account.

  11. The Balance Sheet includes all cash and bank accounts and all other assets of the Charitable Company required to be included therein.

  12. We have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements.

  13. There are no restricted or designated funds other than those disclosed in the financial statements.

LOANS AND ARRANGEMENTS

  1. The Charitable Company has not granted any advances or credits to, or made guarantees on behalf of, trustees other than those disclosed in the financial statements.

LEGAL CLAIMS

  1. We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed as applicable in the financial statements.

LAWS AND REGULATIONS

  1. We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements.

RELATED PARTIES

  1. Related party relationships and transactions have been appropriately accounted for and disclosed as applicable in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with the requirements of company law or accounting standards. In particular, those related party transactions that are not disclosed are all transacted in accordance with “normal market conditions”.

SUBSEQUENT EVENTS

  1. All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed as applicable.

INTERNAL CONTROL AND FRAUD

  1. We acknowledge our responsibility for the design, implementation and maintenance of internal control systems to prevent and detect fraud and error. We have disclosed to you the results of our risk assessment that the financial statements may be misstated as a result of fraud.

  2. We have disclosed to you all instances of known or suspected fraud affecting the entity involving management, employees who have a significant role in internal control or others that could have a material effect on the financial statements.

  3. We have also disclosed to you all information in relation to allegations of fraud or suspected fraud affecting the entity’s financial statements communicated by current or former employees, analysts, regulators or others.

GOING CONCERN

  1. We believe that the Charitable Company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the Charitable Company's needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the Charitable Company's ability to continue as a going concern need to be made in the financial statements.

Yours faithfully

Signed on behalf of the board of trustees by

........................................................................ S Williams, Trustee

REGISTERED COMPANY NUMBER: 05170251 (England and Wales) REGISTERED CHARITY NUMBER: 1105711

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

DEAL AND WALMER COMMUNITY ASSOCIATION

DEAL AND WALMER COMMUNITY ASSOCIATION

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 17
Detailed Statement of Financial Activities 18 to 19

DEAL AND WALMER COMMUNITY ASSOCIATION

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 OCTOBER 2022

TRUSTEES Dr S B Williams R Brown (resigned 24.9.22) M V Carnall (appointed 1.5.22) M E Gregory (resigned 2.4.22) COMPANY SECRETARY Dr S B Williams REGISTERED OFFICE The Landmark Centre 129 High Street DEAL Kent CT14 6BB REGISTERED COMPANY 05170251 (England and Wales) NUMBER REGISTERED CHARITY 1105711 NUMBER INDEPENDENT EXAMINER McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL

Page 1

DEAL AND WALMER COMMUNITY ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2022. The trustees have adopted the provisions of 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

Objectives and aims

To promote the benefit of the inhabitants of Deal and Walmer in the County of Kent and the neighbourhood without distinction of sex or political, religious or other opinions by associations and inhabitants 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 objective of improving the conditions of life for said inhabitants.

To establish or to secure the establishment of a community centre and to maintain and manage or to co-operate with any local statutory authority in the maintenance and management of such a centre for activities promoted by the charitable company.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During this year our community centre has begun the challenging task of rebuilding momentum following the closures of 2020 and 2021. Financial support provided during the pandemic was withdrawn sooner than the public were ready to re-engage in the community-based social activities that were the norm pre-Covid. Eating out, exercise classes, hobby activities, children's dance and drama - these all were approached very cautiously, with limited numbers and limited expenditure. This affected not only the charity's income, but also the income of our regular hirers who use the Landmark Centre as the location for their community provision.

Our café was particularly impacted. Discounted 'home-cooked' food had been a way of serving the local community and the provision had been used regularly by a number from the retired community around Deal and Walmer, those who live alone and those who have special needs as well as visitors. We are a primary provider for breakfast and brunch for the Deal market, so Saturday is particularly busy. But the café has remained under-utilised at most other times. The exception has been meals served to our High St garden, which is very popular in good weather.

Our primary direct income stream as a charity has been our halls for hire. Prior to the pandemic they were well-used by children's dance and drama groups and adults health and well-being groups, bringing people together for shared experiences in areas such as physiotherapy, tai chi, yoga, postural stability and small groups supporting emotional health. We also welcomed choirs, music groups, photography, wine-tasting, a community church, family history, etc. Our facilities were well-used by local civic groups.

During this year we have found some of our groups had moved their provision to online and no longer needed our facilities. Others indicated they were ready to return but had a number of cancellations during the year due to illness. Some of our hirers were struggling financially with the relaunch of their own groups - we are owed significant sums from these early post-pandemic hires, but many have made a commitment to pay their old invoices as soon as finance allows.

For similar reasons we found that the occasional hire of our halls for family and community social events hardly recommenced at all during the year. Throughout the years this has been a service to the local community that the charity has been very pleased to provide and it has helped keep finances stable. For both those reasons its loss has been significantly felt.

The charity's trading subsidiary, Spires Hospitality (Deal) Ltd has continued to operate the Landmark Bar with good support from the local community. This continues to be the most active area of the Landmark Centre with a vibrant community spirit and a very positive reputation in the town. The bar has live music events throughout the weekend which continue to raise the profile of the community centre as a venue, as well as generating increased turnover. The upstairs 'lounge' bar was refurbished by volunteers to provide additional space for pool, darts and general socialising.

Page 2

DEAL AND WALMER COMMUNITY ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022

FINANCIAL REVIEW

Review of the year

This has been a difficult year financially with the combined pressure of the loss of the assisted pandemic finance, extra expense in utilities, food, drink, staffing, etc., as well as areas of reduced income. In recognition of the significantly higher turnover in the bar during the previous year, directors decided to reduce the monthly subsidy offered and charge a more commercially realistic rent. However subsequent to this decision costs of supplies to the bar significantly increased and this has led the bar to be unable to break-even during this financial year. Work is ongoing to adjust prices in line with increasing costs to ensure profitability for the bar, so that it can achieve its aim to raise money for the Centre.

Operating costs for the Landmark Centre increased significantly during the year, especially the area of utilities. When the building is well-occupied there can be several simultaneous hall or room hires in addition to activities in the café and bar and these combine to off-set operational costs. However occupancy has not reached those levels during the year. We were fortunate to be able to host a national bank (after its local premises closed) in one of the rooms that is typically used less, which has provided a welcome boost to income.

We are carrying significant debt in the charity and Spires Hospitality (Deal) Ltd. We owe creditors and we are owed money by some of our hirers. There is also money owed to previous and current trustees and directors. So a careful financial strategy including donations and grants will be needed to bring the charity back to the financial stability it had reached just before the pandemic.

We are hugely grateful for the contribution of volunteers and the support of local suppliers with discounted prices. In particular the new local Rotary Club did an amazing job providing much-needed redecoration to two of our halls and supporting with a variety of other tasks as well. Local people involved in construction have provided a variety of types of support with aspects of the property in need of urgent maintenance, often without charge. This is a tangible significant benefit to the community centre.

Investment policy and objectives

Under the memorandum and articles of association, the charitable company has the power to invest in any way the trustees wish.

The trustees, having regard to the liquidity requirements of operating the centre, and maintaining restricted funds separately, have whenever possible, operated a policy of keeping available funds in an interest bearing deposit account and seek to achieve the highest rate of deposit interest available commensurate with availability and convenience of management.

Reserves policy

The trustees have forecast the level of free reserves (that is those funds not tied up in fixed assets and designated and restricted funds) the charitable company will require to sustain its operations on a day to day basis. This would also meet unexpected repair costs to the building. The trustees estimate that £10,000 of free reserves will be required. It is the charitable company's aim that after a period of consolidation, there will be an opportunity to create these reserves.

Total reserves at 31 October 2022 were £289,948 (2021: £307,331) of which £389,258 (2021: £396,068) were permanent endowment funds, £181 (2021: £2,681) restricted funds and general reserves were £99,491 (2021: 91,418) in deficit. Free reserves were in deficit by £99,501 (2021: £91,428).

FUTURE PLANS

Hall hire has continued to grow in the new financial year, most noticeably with a significant number of evening family social activities. The bar has also continued with a very strong turnover. The national bank renewed its contract for a second year and we have a diverse range of new regular and occasional hirers. We anticipate that the momentum will continue to build and our various pre-existing and new hall hirers are giving confidence that the Landmark Centre will re-establish its contribution and reputation as a community resource in the centre of the High Street.

The existing team of directors for the charity have begun actively seeking additional volunteers to support the running of the Centre. Several local people answered this call and began meeting regularly to consider areas of development for the Centre. These folk have brought a new range of energy and expertise, whilst having to juggle their contribution with other personal and professional commitments. They are very much appreciated. We expect this team to continue to grow and become involved in actively contributing.

Page 3

DEAL AND WALMER COMMUNITY ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022

One of the priority areas to be addressed is a new membership structure - previous membership lapsed during the pandemic. A new membership list will be opened leading to an AGM and the election of trustees to take the Landmark Centre forward into the next phase of its development.

Our volunteers are also bringing welcome connections with other local charities. Our connection with the Pirates (Rotary Club) continues and we have been pleased to be the inaugural site of the Deal Repair Shop, financed partly through a grant from Deal Town Council.

The charity continues to benefit from extensive volunteer support including its directors and the teams that support the maintenance of the building and its numerous activities. The hard work of the staff, volunteers and all the contribution from the local community are once again bringing about a new lease of life for the Centre.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charitable company is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

In the event of winding up, the liability of each member of the charitable company is limited to £10.

Recruitment and appointment of new trustees

As set out in the articles of association a trustee must be a natural person aged 18 or older, and a member of the charitable company.

All members are circulated with invitations to nominate trustees prior to the annual general meeting advising them of retiring trustees and requesting nominations for the annual general meeting. When considering co-opting trustees, the board has regard to the requirement for any specialist skills needed.

Organisational structure

The board of trustees, which must not be less than 3 members, administers the charitable company. The board now meets as regularly as needed and not less than once per quarter. They are supported by volunteers who cover membership, finance, liaison with clients, property maintenance, etc. To facilitate effective operations, volunteers can be given specific delegated authority, within terms of delegation approved by the trustees, for operational matters including finance and employment.

Induction and training of new trustees

New trustees undergo a briefing on their legal obligations under charity and company law, the content of the memorandum and articles of association, the committee and decision making processes, the business plan and recent financial performances of the charitable company.

Risk management

The Trustees have assessed the major risks to which the charitable company is exposed, in particular those related to the operations and finances of the charitable company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Dr S B Williams - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DEAL AND WALMER COMMUNITY ASSOCIATION

Independent examiner's report to the trustees of Deal and Walmer Community Association ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2022.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act 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.

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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 accounts 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)).

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.

Ian Pascall FCA

McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL

Date: .............................................

Page 5

DEAL AND WALMER COMMUNITY ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022

Unrestricted
fund
Notes
£
INCOME AND
ENDOWMENTS FROM
Donations and legacies
3
7,183
Charitable activities
6
The Landmark Centre
103,861
Other trading activities
4
62,867
Investment income
5
3
Total
173,914
EXPENDITURE ON
Raising funds
80,634
Charitable activities
The Landmark Centre
97,350
Other
4,003
Total
181,987
NET
INCOME/(EXPENDITURE)
(8,073)
RECONCILIATION OF
FUNDS
Total funds brought forward
(91,418)
TOTAL FUNDS CARRIED
FORWARD
(99,491)		 Restricted
Endowment
funds
fund
£
£
-
-
-
-
-
-
-
-
-
-
-
-
2,500
6,810
-
-
2,500
6,810
(2,500)
(6,810)
2,681
396,068
181
389,258		 2022
Total
funds
£
7,183
103,861
62,867
3
173,914
80,634
106,660
4,003
191,297
(17,383)
307,331
289,948		 2021
Total
funds
£
87,823
32,005
30,309
-
150,137
59,943
74,598
3,285
137,826
12,311
295,020
307,331

The notes form part of these financial statements

Page 6

DEAL AND WALMER COMMUNITY ASSOCIATION

BALANCE SHEET 31 OCTOBER 2022

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
12
-
Investments
13
10
10
CURRENT ASSETS
Stocks
14
350
Debtors
15
79,565
Cash at bank and in hand
3,292
83,207
CREDITORS
Amounts falling due within one
year
16
(122,822)
NET CURRENT
ASSETS/(LIABILITIES)
(39,615)
TOTAL ASSETS LESS
CURRENT LIABILITIES
(39,605)
CREDITORS
Amounts falling due after more
than one year
17
(59,886)
NET ASSETS
(99,491)
FUNDS
19
Unrestricted funds
Restricted funds
Endowment funds
TOTAL FUNDS		 Restricted
Endowment
funds
fund
£
£
-
389,258
-
-
-
389,258
-
-
-
-
181
-
181
-
-
-
181
-
181
389,258
-
-
181
389,258		 2022
Total
funds
£
389,258
10
389,268
350
79,565
3,473
83,388
(122,822)
(39,434)
349,834
(59,886)
289,948
(99,491)
181
389,258
289,948		 2021
Total
funds
£
396,068
10
396,078
528
62,227
10,997
73,752
(96,312)
(22,560)
373,518
(66,187)
307,331
(91,418)
2,681
396,068
307,331

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 7

DEAL AND WALMER COMMUNITY ASSOCIATION

BALANCE SHEET - continued 31 OCTOBER 2022

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. S B Williams - Trustee

The notes form part of these financial statements

Page 8

DEAL AND WALMER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

1. STATUTORY INFORMATION

Deal and Walmer Community Association is a charitable company, limited by guarantee, registered in England and Wales. The charitable company's registered number and registered office address can be found on the Reference and Administrative Details page.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Preparation of consolidated financial statements

The financial statements contain information about Deal and Walmer Community Association as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

No amounts are included in the financial statements for the services donated by volunteers.

Charitable trading activities:

Rental income from the use of the Community Centre is included within incoming resources in the period in which the room is hired.

Donations, legacies and similar incoming resources:

Donations, legacies and similar incoming resources are included in the period in which they are receivable, which is when the charitable company becomes entitled to the resources.

Government grants:

Revenue based grants are recognised as income over the periods in which the related expenditure is incurred. Grants for the purpose of giving immediate financial support with no related future costs are recognised as income when receivable.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

continued...

Page 9

DEAL AND WALMER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022

2. ACCOUNTING POLICIES - continued

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - Straight line over 15 years (heating improvements) and Straight line over 100 years (the property) Fixtures, fittings and - Straight line over 4 years equipment

Individual fixed assets costing £500 or more are capitalised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charitable company. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Endowment funds are related to assets which are core to the function of the charitable company. Although there is no general restriction on these funds, by their nature, they are not available for use by the trustees.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged on a straight line basis over the period of the lease.

3. DONATIONS AND LEGACIES

Donations and grants
Government grants		 2022
£
516
6,667
7,183		 2021
£
2,591
85,232
87,823

continued...

Page 10

DEAL AND WALMER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022

4.
OTHER TRADING ACTIVITIES
Café sales
5.
INVESTMENT INCOME
Deposit account interest
6.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Hire of halls
The Landmark Centre
Rent from bar
The Landmark Centre
7.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Independent Examiner - examination fee
8.
TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2022 nor for the year ended 31 October 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2022 nor for the year ended 31 October 2021.

9. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Cafe
Facilities		 2022
£
83,754
1,724
85,478
2022
9
2
11		 2021
£
72,037
868
72,905
2021
6
2
8

continued...

Page 11

DEAL AND WALMER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022

9. STAFF COSTS - continued

No employees received emoluments in excess of £60,000.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
47,713
Charitable activities
The Landmark Centre
32,005
Other trading activities
30,309
Total
110,027
EXPENDITURE ON
Raising funds
22,333
Charitable activities
The Landmark Centre
65,773
Other
3,285
Total
91,391
NET INCOME/(EXPENDITURE)
18,636
RECONCILIATION OF FUNDS
Total funds brought forward
(110,054)
TOTAL FUNDS CARRIED FORWARD
(91,418)		 Restricted
Endowment
funds
fund
£
£
40,110
-
-
-
-
-
40,110
-
37,610
-
2,015
6,810
-
-
39,625
6,810
485
(6,810)
2,196
402,878
2,681
396,068		 Total
funds
£
87,823
32,005
30,309
150,137
59,943
74,598
3,285
137,826
12,311
295,020
307,331

11. GOVERNMENT GRANTS

During the year the charitable company has received government grants due to the COVID-19 pandemic. The charitable company received the Coronavirus Job Retention Scheme grant, a revenue based grant, which has been credited to the profit and loss account to match the related employment costs. The sum of £NIL (2021 - £37,610) was receivable in the year. The charitable company also received the sum of £6,667 (2021 - £47,622) through other government grants due to nationally and locally imposed lockdowns, being compensatory grants to give immediate financial support to the charitable company.

continued...

Page 12

DEAL AND WALMER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022

12. TANGIBLE FIXED ASSETS

COST
At 1 November 2021 and 31 October 2022
DEPRECIATION
At 1 November 2021
Charge for year
At 31 October 2022
NET BOOK VALUE
At 31 October 2022
At 31 October 2021
13.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 November 2021 and 31 October 2022
NET BOOK VALUE
At 31 October 2022
At 31 October 2021		 Freehold
property
£
436,928
40,860
6,810
47,670
389,258
396,068		 Fixtures,
fittings
and
equipment
Totals
£
£
34,817
471,745
34,817
75,677
-
6,810
34,817
82,487
-
389,258
-
396,068
Shares in
group
undertakings
£
10
10
10

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

Spires Hospitality (Deal) Ltd

Registered office: Landmark Centre, 129 High Street, Deal, England, CT14 6BB Nature of business: Hospitality services

Nature of business: Hospitality services
%
Class of share: holding
Ordinary 100
31.10.22 31.10.21
£ £
Aggregate capital and reserves (90,402) (46,437)
(Loss)/profit for the year (43,965) 19,935

continued...

Page 13

DEAL AND WALMER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022

14.
STOCKS
2022
£
Stocks
350
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
£
Amounts owed by group undertakings
36,258
Sundry debtors
43,307
79,565
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
£
Loans (see note 18)
82,086
Social security and other taxes
3,999
Other creditors and accruals
36,737
122,822
17.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022
£
Mortgage - 2-5 years
25,200
Mortgage - over 5 years
34,686
59,886
The mortgage is secured on the freehold property.
18.
LOANS
An analysis of the maturity of loans is given below:
2022
£
Amounts falling due within one year on demand:
Mortgage
6,300
Other loans
75,786
82,086		 2021
£
528
2021
£
46,201
16,026		 2021
£
528
62,227
2021
£
82,737
911
12,664
96,312
2021
£
25,200
40,987
66,187
2021
£
6,300
76,437
82,737

continued...

Page 14

DEAL AND WALMER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022

19. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
General repairs
Endowment funds
Endowment
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
General repairs
Endowment funds
Endowment
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
General repairs
Spires Maintenance Fund
Endowment funds
Endowment
TOTAL FUNDS		 At
1.11.21
£
(91,418)
2,681
396,068
307,331
Incoming
resources
£
173,914
-
-
173,914
At
1.11.20
£
(110,054)
1,186
1,010
2,196
402,878
295,020		 Net
movement
At
in funds
31.10.22
£
£
(8,073)
(99,491)
(2,500)
181
(6,810)
389,258
(17,383)
289,948
Resources
Movement
expended
in funds
£
£
(181,987)
(8,073)
(2,500)
(2,500)
(6,810)
(6,810)
(191,297)
(17,383)
Net
movement
At
in funds
31.10.21
£
£
18,636
(91,418)
1,495
2,681
(1,010)
-
485
2,681
(6,810)
396,068
12,311
307,331

Page 15

continued...

DEAL AND WALMER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022

19. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
General repairs
Spires Maintenance Fund
Covid
Endowment funds
Endowment
TOTAL FUNDS		 Incoming
resources
£
110,027
2,500
-
37,610
40,110
-
150,137		 Resources
Movement
expended
in funds
£
£
(91,391)
18,636
(1,005)
1,495
(1,010)
(1,010)
(37,610)
-
(39,625)
485
(6,810)
(6,810)
(137,826)
12,311

Endowment fund

This fund relates to the Landmark Centre building which is core to the function of the charitable company.

Restricted funds

The General repairs fund contains £181 in respect of a memorial plaque that is to be made. £2,500 received in the prior year from The Cleary Foundation for repair works to the Cleary Room has been spent during the year.

The Spires Maintenance fund contained £1,010 for protecting the Spires from pigeons and this was spent during the prior year.

The Covid fund represented grants received under the Coronavirus Job Retention Scheme to fund wage payments.

20. RELATED PARTY DISCLOSURES

During the year £48,000 (2021 - £12,000) was charged to Spires Hospitality (Deal) Ltd, a subsidiary company, in respect of rent. At the year end £36,258 (2021 - £46,201) was owed to the charitable company by Spires Hospitality (Deal) Ltd.

At the year end the charitable company owed the Life Giving Trust, of which Dr S B Williams is a trustee, amounts totalling £52,850 (2021 - £52,850). The loan is interest free.

At the year end the charitable company owed £8,592 (2021 - £4,063) to the directors. The loans are interest free.

Page 16

continued...

DEAL AND WALMER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022

21. GOING CONCERN

The trustees have concluded that a material uncertainty exists that casts significant doubt upon the charitable company's ability to continue as a going concern and that, therefore, the charitable company may be unable to realise its assets and discharge its liabilities in the normal course of operating. However, given the continuing efforts to increase incoming resource , as detailed in the report of the trustees, the trustees continue to adopt the going concern basis of accounting.

Page 17

DEAL AND WALMER COMMUNITY ASSOCIATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations and grants
Government grants
Other trading activities
Café sales
Investment income
Deposit account interest
Charitable activities
Hire of halls
Rent from bar
Total incoming resources
EXPENDITURE
Other trading activities
Opening stock
Café costs
Café wages
Pensions
Closing stock
Charitable activities
Wages
Insurance
Light, heat, rates and water
Telephone
Sundries
Cleaning
Repairs and renewals
Depreciation of tangible fixed assets
Loan interest
Other
Bank interest
Mortgage interest		 2022
£
516
6,667
7,183
62,867
3
55,861
48,000
103,861
173,914
528
29,515
49,217
1,724
(350)
80,634
34,537
5,324
39,809
469
1,247
5,371
7,044
6,810
577
101,188
607
3,396
4,003		 2021
£
2,591
85,232
87,823
30,309
-
20,005
12,000
32,005
150,137
550
12,003
47,050
868
(528)
59,943
24,987
5,268
13,163
154
1,009
1,987
18,479
6,810
521
72,378
173
3,112
3,285

This page does not form part of the statutory financial statements

Page 18

DEAL AND WALMER COMMUNITY ASSOCIATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 OCTOBER 2022
Support costs
Governance costs
Independent examination fees
Fines and penalties
Total resources expended
Net (expenditure)/income		 2022
£
2,472
3,000
5,472
191,297
(17,383)		 2021
£
2,220
-
2,220
137,826
12,311

This page does not form part of the statutory financial statements

Page 19