## **WATLING COMMUNITY ASSOCIATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Note**
**INCOME AND ENDOWMENTS**
**Hire of halls**
(Weekend hire)
(Member Revenue)
(Interest Received from Saving Accounts)
**Insurance claims received**
(Nonmember Revenue)
(One Of User)
**Sundry income**
(Deposit Return)
**TOTAL**
**EXPENDITURE ON CHARITABLE ACTIVITIES**
Saving Account Bank Charges
Water rates
Light and heat
Telephone
Insurance
Security
Repairs and maintenance
Major repairs and renovations
Cleaning
Garden maintenance
Printing, postage, stationery and advertising
Salaries
**Membership**
**Interest receivable**
**Furlough grants received**|**2023**
**Unrestricted**
**Funds**
**£**
71,030.03
71,503.66
5,106.16
53,932.87
919.50
25,929.16
176,563.06
96
15,004
2,971
11,599
4,623
64,680|**2022**
**Unrestricted**
**Funds**
**£**
172,635.00
114.00
729.00
0.00
0.00
280.00|
|---|---|---|
|||173,758.00
0
2,734
1,162
492
2,055
505
8,633
13,342
4,983
18
806
55,491|
|Travelling expenses
Accountancy (pension)
Legal & professional fees
Jubilee expenses (genral expenses)
Amortisation
Depreciation
Sundry expenses
**TOTAL**
**NET INCOME (EXPENDITURE) - UNRESTRICTED**
8
**Total funds brought forward - Unrestricted**
8
**Total funds carried forward - Unrestricted**
6|785
6,781
6,103
11,048
42
123,732
52,831
680,378
733,209|823
960
(144)
4,620
11,048
55
1,578|
|---|---|---|
|||109,161
64,597
615,781
680,378|
## **WATLING COMMUNITY ASSOCIATION (limited by guarantee)**
## **BALANCE SHEET AS AT 31 DECEMBER 2023**
## **FIXED ASSETS**
Tangible assets **CURRENT ASSETS** Debtors and prepayments Cash and bank balances
|**Note**
5
6|**2,023**
**£**
139,758
981
592,965
593,946|**2022**
**£**
**£**
109,060
750
573,874
574,624|
|---|---|---|
## **CURRENT LIABILITIES**
|Creditors
7
**NET CURRENT ASSETS**
**NET ASSETS**
**REPRESENTED BY**
Unrestricted Funds
**TOTAL FUNDS**
8|495
593,451
733,210
733,210
733,209|3,306
571,318
680,378
680,378
680,378|3,306
571,318
680,378
680,378
680,378|
|---|---|---|---|
|||||
||||680,378|
||||680,378|
||||680,378|
The company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 31 December 2022
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the directors on 28 January 2023 and were signed on its behalf by:
Harry Gilling Director
## **WATLING COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
1 **ACCOUNTING POLICIES**
1.1
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS102, have been prepare accordance with the charities SORP (FRS102) '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 (FRS102) (effective 1 January 2016), Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic Ireland and the Charities Act 2011. The financial statements have been prepared under the historical cos convention with the exception of investments which are included at market value. The base currency is st
1.2
## **Incoming resources**
All incoming resources are included in the SOFA when the charity is legally entitled to the income and th amount can be quantified with reasonable accuracy. All donations are recognised on the date they becom receivable.
- 1.3
## **Resources expended**
All expenditure is accounted for on an accruals basis and has been classified under appropriate headings. Grants are charged to the Statement of financial activities when a constructive obligation exists. Irrecove VAT is charged as a cost to the Statement of financial activity.
## **Fund accounting**
Unrestricted funds comprise accumulated surplus and deficits on general funds that are available for use
1.4
the discretion of the trustees in the furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the te of an appeal.
## 1.5
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each assets over its estimated useful life:
Leasehold premises
Equipment, furniture, fixtures and fittings
Evenly over the lease term 25% on reducing balance
## 1.6
## **Taxation**
The charitable company is exempt from corporation tax on its charitable activities.
2
## **LEGAL STATUS OF THE CHARITY**
The Charity is a company limited by guarantee and has no share capital. The liability of each member in event of winding up is limited to £1.
3 **INTEREST RECEIVABLE**
Interest on cash balances
**----- Start of picture text -----**
2,023 2,022
£ £
5,106 729
**----- End of picture text -----**
**2,023 2,022 £ £**
4 **RESOURCES EXPENDED**
|Included within administrative expenses are:
Depreciation of tangible fixed assets
Wages and salaries
Social security costs
The trustees have not received any remuneration for their services.
No employee received emoluments of more than £60,000.
The average number of employees during the year was 6.
5
**TANGIBLE FIXED ASSETS**
**Cost:**
At 01.01.2023
Additions
At 31.12.2023
**Depreciation:**
At 01.01.2023
Charge for year
At 31.12.2023
**Net book Value:**
At 31.12.2023|42
62,049
0|42
62,049
0|11,103
55,491
0|
|---|---|---|---|
||**Leasehold**
**Premises**
**£**
309,067
0||**E F F & F**
**£**
44,330
26,812|
|||309,067|71,142|
|||215,150
11,048
226,198|44,163
42
44,205|
|||82,869|26,937|
||At 31.12.2023|||93,917|167|
|---|---|---|---|---|---|
|||||**2023**|**2022**|
|||||**£**|**£**|
|6|**DEBTORS**|||||
||Other debtors and prepayments|||981|750|
|7|**CREDITORS: AMOUNTS FALLING DUE WITHIN**||**ONE YEAR**|||
||Other creditors and accruals|||495|3,306|
|8|**ANALYSIS OF RESERVES**|||||
|||9||**Incoming**|**Outgoing**|
||||**At 01.01**
|**Resources**|**Resources**|
||||**£**|**£**|**£**|
||Unrestricted funds|**2022**|615,781|173,758|109,161|
|||**2023**|680,378|176,563|123,732|
## **WATLING COMMUNITY ASSOCIATION**
## **INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF WATLING COMMUNITY ASSOCIATION**
I report on the accounts for the year ended 31 December 2022 as set out on pages 1 to 9.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also directors of the company for the purpose of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011and that an independent examination is needed.
Having been satisfied that the charity is not subject to audit under company law and is eligible for independent examination it is my responsibility to:
- examine the accounts under section 145 of the Charities Act;
* to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5) of the Charities Act; and * to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiners' statement**
In connection with my examination, no matter has come to my attention which gives me cause to believe that in, any material respect:
- accounting records were not kept in accordance with s386 of the Companies Act 2006; or
- the accounts do not accord with such records; or
- the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair' view is not a matter considered as part of an independent examination; or
- the accounts have not been prepared in accordance with the Charities SORP (FRS 102).
I have come across no matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
ARIA ACCOUNTANTS LTD
130 Manor Way Ruislip HA4 8HR
T. 02084277114
M. 07886009817
E.info@ariaaccountants.co.uk
www.ariaaccountants.co.uk
Date: 19 January 2024
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||**Website**
**£**
14,976
14,976|**Total**
**£**
368,373
41,788|
|---|---|---|
||29,952|410,161|
||0
0
0|259,313
11,090
270,403|
||29,952|139,758|
14,976
109,060
At 31.12
680,378
733,209