REGISTERED COMPANY NUMBER: 05015149 (England and Wales) REGISTERED CHARITY NUMBER: 1108051
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
FOR
BUNGAY COMMUNITY CENTRE
van Dijk Accountants 11 Trinity Street Bungay Suffolk NR35 1EH
BUNGAY COMMUNITY CENTRE
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 28 February 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 to 6 |
| Notes to the Financial Statements | 7 to 12 |
| Detailed Statement of Financial Activities | 13 |
BUNGAY COMMUNITY CENTRE
REPORT OF THE TRUSTEES
for the Year Ended 28 February 2023
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 28 February 2023. 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 of the charity
To promote the benefit of the inhabitants of Bungay and the neighbourhood 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.
Main activities undertaken for the public benefit
We continue to be mainly a space for people to hire to put on their own events, whether it is classes or social occasions such as children's parties. We have 27 regular groups, including most of those listed in last year's report. We have gained a few more regular users including a String orchestra which uses the hall for rehearsals, a Scottish dancing group and a sewing group.
We have installed gates to make the patio area more private for users and now employ a regular gardener, who has improved the gardens considerably. The legacy received last year, which has since been increased means we have been able to instal a further hearing loop, a top of the range noise management system and we are working towards the installation of air conditioning in order to obtain an alcohol licence. This will enable us to stage our own profit making functions to assist with maintenance and staffing costs and to encourage residents who do not attend any of the classes which take place currently.
ACHIEVEMENT AND PERFORMANCE
Achievements of the charity during the year
We were blessed last summer with a legacy which has enabled us to spend money on the building to improve what we have to offer. We have a new Trustee, who has taken over management of our bookings and we now subscribe to Hall master , an electronic booking platform which has made the room booking process easier for all. We again had a plant stall at the Street Fair to raise a few hundred pounds.
FINANCIAL REVIEW
Reserves policy
It is the trustees policy to maintain reserves at a level it considers necessary to meet cash flow requirements.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity 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.
Recruitment and appointment of new trustees
New trustees are recruited and appointed by existing trustees.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05015149 (England and Wales)
Registered Charity number
1108051
Page 1
BUNGAY COMMUNITY CENTRE
REPORT OF THE TRUSTEES
for the Year Ended 28 February 2023
Registered office
11 Trinity Street Bungay Suffolk NR35 1EH
Trustees
Mrs R L Botham Mrs J Cloke M Evans Mrs S M Knights Mrs B Herring S Honeywood (resigned 24.4.23) S G Went (resigned 1.11.22) Ms J L Groom Mrs S Taylor P Dunning (appointed 4.5.22) A Adams (appointed 19.4.22)
Company Secretary
M Evans
Independent Examiner
van Dijk Accountants 11 Trinity Street Bungay Suffolk NR35 1EH
Approved by order of the board of trustees on 21 June 2023 and signed on its behalf by:
M Evans - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BUNGAY COMMUNITY CENTRE
Independent examiner's report to the trustees of Bungay Community Centre ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2023.
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:
-
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
-
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
-
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.
J van Dijk FMAAT van Dijk Accountants 11 Trinity Street Bungay Suffolk NR35 1EH
21 June 2023
Page 3
BUNGAY COMMUNITY CENTRE
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 28 February 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 103,764 Other trading activities 2 26,641 Other income - Total 130,405 EXPENDITURE ON Raising funds 42,042 NET INCOME 88,363 RECONCILIATION OF FUNDS Total funds brought forward 859,535 TOTAL FUNDS CARRIED FORWARD 947,898 |
Restricted fund £ - - - - - - 2,582 2,582 |
28.2.23 Total funds £ 103,764 26,641 - 130,405 42,042 88,363 862,117 950,480 |
28.2.22 Total funds £ 84,093 18,308 353,748 456,149 37,153 418,996 443,121 862,117 |
|---|---|---|---|
The notes form part of these financial statements
Page 4
BUNGAY COMMUNITY CENTRE
STATEMENT OF FINANCIAL POSITION
28 February 2023
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Stocks 7 Debtors 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 10 NET ASSETS FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 860,771 150 16,163 71,533 87,846 (719) 87,127 947,898 - 947,898 |
Restricted fund £ - - - 2,582 2,582 - 2,582 2,582 - 2,582 |
28.2.23 Total funds £ 860,771 150 16,163 74,115 90,428 (719) 89,709 950,480 - 950,480 947,898 2,582 950,480 |
28.2.22 Total funds £ 871,312 150 2,826 43,847 46,823 (27,051) 19,772 891,084 (28,967) 862,117 859,535 2,582 862,117 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit 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 financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 5
BUNGAY COMMUNITY CENTRE
STATEMENT OF FINANCIAL POSITION - continued
28 February 2023
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 21 June 2023 and were signed on its behalf by:
M Evans - Trustee
The notes form part of these financial statements
Page 6
BUNGAY COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023
1. 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. The financial statements have been prepared under the historical cost convention.
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.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Building - in accordance with the property Equipment and fittings - 25% on reducing balance
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 charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 7
BUNGAY COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 28 February 2023
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 28.2.23 | 28.2.22 | |
| £ | £ | |
| Hirings | 26,641 | 17,299 |
| Fundraising | - | 1,009 |
| 26,641 | 18,308 | |
| NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Hire of plant and machinery Surplus on disposal of fixed assets |
28.2.23 £ 19,302 350 - |
28.2.22 £ 16,196 86 (353,748) |
3. NET INCOME/(EXPENDITURE)
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2023 nor for the year ended 28 February 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2023 nor for the year ended 28 February 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 84,093 Other trading activities 18,308 Other income 353,748 Total 456,149 EXPENDITURE ON Raising funds 37,153 NET INCOME 418,996 RECONCILIATION OF FUNDS Total funds brought forward 440,539 TOTAL FUNDS CARRIED FORWARD 859,535 |
Restricted fund £ - - - - - - 2,582 2,582 |
Total funds £ 84,093 18,308 353,748 456,149 37,153 418,996 443,121 862,117 |
|---|---|---|
continued...
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BUNGAY COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 28 February 2023
6. TANGIBLE FIXED ASSETS
| COST At 1 March 2022 Additions At 28 February 2023 DEPRECIATION At 1 March 2022 Charge for year At 28 February 2023 NET BOOK VALUE At 28 February 2023 At 28 February 2022 7. STOCKS Stocks 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments |
Equipment and Building fittings £ £ 877,837 18,987 3,970 4,791 881,807 23,778 14,588 10,924 17,288 2,014 31,876 12,938 849,931 10,840 863,249 8,063 28.2.23 £ 150 28.2.23 £ 2,563 - 13,600 16,163 |
Totals £ 896,824 8,761 905,585 25,512 19,302 44,814 860,771 871,312 28.2.22 £ 150 28.2.22 £ 2,216 610 - 2,826 |
|---|---|---|
continued...
Page 9
BUNGAY COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other loans (see note 11) Trade creditors Other creditors Accrued expenses 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Other loans (see note 11) 11. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans Amounts falling between one and two years: Other loans - 1-2 years Amounts falling due between two and five years: Other loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Other loans more 5yrs instal 12. MOVEMENT IN FUNDS At 1.3.22 £ Unrestricted funds General fund 859,535 Restricted funds Youth club 2,582 TOTAL FUNDS 862,117 |
28.2.23 £ - - - 719 719 28.2.23 £ - 28.2.23 £ - - - - Net movement in funds £ 88,363 - 88,363 |
28.2.22 £ 4,667 664 21,000 720 27,051 28.2.22 £ 28,967 28.2.22 £ 4,667 9,333 14,000 5,634 At 28.2.23 £ 947,898 2,582 950,480 |
|---|---|---|
continued...
Page 10
BUNGAY COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 28 February 2023
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 130,405 TOTAL FUNDS 130,405 Comparatives for movement in funds At 1.3.21 £ Unrestricted funds General fund 440,539 Restricted funds Youth club 2,582 TOTAL FUNDS 443,121 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 456,149 TOTAL FUNDS 456,149 |
Resources Movement expended in funds £ £ (42,042) 88,363 (42,042) 88,363 Net movement At in funds 28.2.22 £ £ 418,996 859,535 - 2,582 418,996 862,117 Resources Movement expended in funds £ £ (37,153) 418,996 (37,153) 418,996 |
|---|---|
continued...
Page 11
BUNGAY COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 28 February 2023
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Youth club TOTAL FUNDS |
At 1.3.21 £ 440,539 2,582 443,121 |
Net movement in funds £ 507,359 - 507,359 |
At 28.2.23 £ 947,898 2,582 950,480 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 586,554 586,554 |
Resources Movement expended in funds £ £ (79,195) 507,359 (79,195) 507,359 |
|---|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2023.
Page 12
BUNGAY COMMUNITY CENTRE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 28 February 2023
| 28.2.23 | 28.2.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations and gift aid | 100,499 | 6,935 |
| Grants | 3,265 | 77,158 |
| Other trading activities | 103,764 | 84,093 |
| Hirings | 26,641 | 17,299 |
| Fundraising | - | 1,009 |
| Other income | 26,641 | 18,308 |
| Gain on sale of tangible fixed assets | - | 353,748 |
| Total incoming resources | 130,405 | 456,149 |
| EXPENDITURE | ||
| Other trading activities | ||
| Opening stock | 150 | 150 |
| Closing stock | (150) | (150) |
| Support costs | - | - |
| Management | ||
| Hire of plant and machinery | 350 | 86 |
| Rates and water | 153 | 514 |
| Insurance | 2,273 | 2,208 |
| Light and heat | 3,674 | 3,164 |
| Premises maintenance | 1,747 | 6,615 |
| Postage and stationery | 551 | 401 |
| Caretaking | 1,280 | 4,000 |
| Sundries | 14 | 784 |
| Repairs and renewals | 1,091 | 1,498 |
| Waste and cleaning | 4,331 | 557 |
| Subscriptions and licences | 756 | 410 |
| Accountancy | 720 | 720 |
| Professional fees | 5,800 | - |
| Depreciation of tangible and heritage assets | 19,302 | 16,196 |
| 42,042 | 37,153 | |
| Total resources expended | 42,042 | 37,153 |
| Net income | 88,363 | 418,996 |
This page does not form part of the statutory financial statements
Page 13