**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:
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.
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
- (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...
Page 8
**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|
|---|---|
|||
This page does not form part of the statutory financial statements
Page 13