REGISTERED COMPANY NUMBER: 05015149 (England and Wales) REGISTERED CHARITY NUMBER: 1108051
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
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 29 February 2024
| 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 29 February 2024
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 29 February 2024. 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
The granting of our alcohol licence late last year has increased the numbers of people hiring the Centre for their parties. We have nearly 40 regular hirers now including another sewing group and a music group for people with long term incurable conditions. Our gardener has also become our caretaker and is much appreciated by our clients. We are working with an Architect and the adjacent GP Surgery to reinstate the path in the Lime avenue, with a spur to the Centre creating easier access for those with limited mobility. Planning for a Family Fun Day later in the year, providing free entertainment for local families, is in its very early stages.
ACHIEVEMENT AND PERFORMANCE
Achievements of the charity during the year
The bequest we received last financial year has enabled us to install air conditioning thus complying with the requirements of East Suffolk Council's Environmental Health team, and in December we were granted a full alcohol licence. We have continued to raise a few hundred pounds by having a plant stall at the Garden market. A different contractor has been engaged to cut the outer grass and the playpark from spring, they have also trimmed the epicormic growth from the Lime trees.
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 29 February 2024
Registered office
11 Trinity Street Bungay Suffolk NR35 1EH
Trustees
Mrs R L Botham Mrs J Cloke M Evans Mrs S M Knights (resigned 2.10.23) Mrs B Herring S Honeywood (resigned 24.4.23) Ms J L Groom (resigned 10.5.23) Mrs S Taylor (resigned 31.10.23) P Dunning A Adams Mrs J Green (appointed 15.1.24) J Walker (appointed 15.1.24)
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 9 July 2024 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 29 February 2024.
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
-
the accounts do not accord with those records; or
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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
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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
van Dijk Accountants 11 Trinity Street Bungay Suffolk NR35 1EH
9 July 2024
Page 3
BUNGAY COMMUNITY CENTRE
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 29 February 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 38,600 Other trading activities 2 32,435 Total 71,035 EXPENDITURE ON Raising funds 61,286 NET INCOME 9,749 RECONCILIATION OF FUNDS Total funds brought forward 947,898 TOTAL FUNDS CARRIED FORWARD 957,647 |
Restricted fund £ - - - - - 2,582 2,582 |
29.2.24 Total funds £ 38,600 32,435 71,035 61,286 9,749 950,480 960,229 |
28.2.23 Total funds £ 103,764 26,641 130,405 42,042 88,363 862,117 950,480 |
|---|---|---|---|
The notes form part of these financial statements
Page 4
BUNGAY COMMUNITY CENTRE
STATEMENT OF FINANCIAL POSITION
29 February 2024
| 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 NET ASSETS FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 888,434 289 3,413 66,922 70,624 (1,411) 69,213 957,647 957,647 |
Restricted fund £ - - - 2,582 2,582 - 2,582 2,582 2,582 |
29.2.24 Total funds £ 888,434 289 3,413 69,504 73,206 (1,411) 71,795 960,229 960,229 957,647 2,582 960,229 |
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 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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
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(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
29 February 2024
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 9 July 2024 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 29 February 2024
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 29 February 2024
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 29.2.24 | 28.2.23 | |
| £ | £ | |
| Hirings | 32,435 | 26,641 |
| NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Hire of plant and machinery |
29.2.24 £ 26,198 259 |
28.2.23 £ 19,302 350 |
3. NET INCOME/(EXPENDITURE)
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 29 February 2024 nor for the year ended 28 February 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 29 February 2024 nor for the year ended 28 February 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 103,764 Other trading activities 26,641 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 |
Total funds £ 103,764 26,641 130,405 42,042 88,363 862,117 950,480 |
|---|---|---|
continued...
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BUNGAY COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 29 February 2024
6. TANGIBLE FIXED ASSETS
| COST At 1 March 2023 Additions At 29 February 2024 DEPRECIATION At 1 March 2023 Charge for year At 29 February 2024 NET BOOK VALUE At 29 February 2024 At 28 February 2023 7. STOCKS Stocks 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments |
Equipment and Building fittings £ £ 881,807 23,778 3,321 50,540 885,128 74,318 31,876 12,938 17,037 9,161 48,913 22,099 836,215 52,219 849,931 10,840 29.2.24 £ 289 29.2.24 £ 3,413 - 3,413 |
Totals £ 905,585 53,861 959,446 44,814 26,198 71,012 888,434 860,771 28.2.23 £ 150 28.2.23 £ 2,563 13,600 16,163 |
|---|---|---|
continued...
Page 9
BUNGAY COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 29 February 2024
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Accrued expenses 10. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Youth club TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Youth club TOTAL FUNDS |
At 1.3.23 £ 947,898 2,582 950,480 Incoming resources £ 71,035 71,035 At 1.3.22 £ 859,535 2,582 862,117 |
29.2.24 28.2.23 £ £ 691 - 720 719 1,411 719 Net movement At in funds 29.2.24 £ £ 9,749 957,647 - 2,582 9,749 960,229 Resources Movement expended in funds £ £ (61,286) 9,749 (61,286) 9,749 Net movement At in funds 28.2.23 £ £ 88,363 947,898 - 2,582 88,363 950,480 |
|---|---|---|
continued...
Page 10
BUNGAY COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 29 February 2024
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 130,405 130,405 |
Resources Movement expended in funds £ £ (42,042) 88,363 (42,042) 88,363 |
|---|---|---|
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 1.3.22 £ 859,535 2,582 862,117 |
Net movement in funds £ 98,112 - 98,112 |
At 29.2.24 £ 957,647 2,582 960,229 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 201,440 (103,328) |
98,112 |
| TOTAL FUNDS | 201,440 (103,328) |
98,112 |
continued...
Page 11
BUNGAY COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 29 February 2024
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 29 February 2024.
Page 12
BUNGAY COMMUNITY CENTRE
| INCOME AND ENDOWMENTS Donations and legacies Donations and gift aid Grants Other trading activities Hirings Total incoming resources EXPENDITURE Other trading activities Opening stock Bad debts Closing stock Support costs Management Hire of plant and machinery Rates and water Insurance Light and heat Premises maintenance Postage and stationery Caretaking Sundries Repairs and renewals Waste and cleaning Subscriptions and licences Accountancy Professional fees Freehold property Equipment and fittings Total resources expended Net income |
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 29 February 2024 29.2.24 28.2.23 £ £ 38,600 100,499 - 3,265 38,600 103,764 32,435 26,641 71,035 130,405 150 150 24 - (289) (150) (115) - 259 350 111 153 1,681 2,273 6,540 3,674 215 1,747 569 551 7,579 1,280 1,449 14 7,176 1,091 4,956 4,331 658 756 720 720 3,290 5,800 17,037 17,288 9,161 2,014 61,401 42,042 61,286 42,042 9,749 88,363 |
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This page does not form part of the statutory financial statements
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