REGISTERED COMPANY NUMBER: 05375065 (England and Wales) REGISTERED CHARITY NUMBER: 1108796
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2020
for Ross-on-Wye & District Community Association
Thorne & Co. Accountants 1 St Mary's Street Ross-on-Wye Herefordshire HR9 5HT
Ross-on-Wye & District Community Association
Contents of the Financial Statements for the Year Ended 31 December 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 12 |
Ross-on-Wye & District Community Association
Report of the Trustees
for the Year Ended 31 December 2020
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 December 2020. 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
The company is a registered charity and the principal objects of the company are to maintain a Community Centre to promote the benefit of the inhabitants of Ross-on-Wye and the neighbourhood together defined by the postal code HR9 area.
FINANCIAL REVIEW
Investment policy and objectives
Under the memorandum and articles of association, the charity has the power to make any investment which the Council of Management see fit.
Reserves policy - Unrestricted funds
During the current year the Association had an excess of expenditure over income of £255. At the end of the year the net current reserves were £85,035.
The trustees have given serious consideration to the problems regarding future maintenance and refurbishment of the Larruperz building which is leased to them by the Ross Town Council under a 99 year lease dated 23 December 1987 and which is a full repairing lease. The Ross Town Council, as owners of the freehold of the property, pay the building's insurance premium.
In view of the constantly rising building repair costs, the trustees of the company consider that it is essential that a fund is built up, and held if possible, to be used for future major repairs, refurbishments and renovations to the building and its ancillary grounds. The trustees aim is to build sufficient reserves in the unrestricted funds to have available funds of £100,000 to cover potential property repairs.
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.
Organisational structure
The Council of Management administers the charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05375065 (England and Wales)
Registered Charity number
1108796
Registered office
The Larruperz Centre Grammar School Close Ross-on-Wye Herefordshire HR9 7QD
Page 1
Ross-on-Wye & District Community Association
Report of the Trustees
for the Year Ended 31 December 2020
Trustees
C Boughen J E Hewson S A Kirby B J Marshall J P Pearce A P Soble C S Bennet D Lister K Fowler
Independent Examiner
Thorne & Co. Accountants 1 St Mary's Street Ross-on-Wye Herefordshire HR9 5HT
Approved by order of the board of trustees on 22 July 2021 and signed on its behalf by:
J E Hewson - Trustee
Page 2
Independent Examiner's Report to the Trustees of Ross-on-Wye & District Community Association
Independent examiner's report to the trustees of Ross-on-Wye & District Community Association ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
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
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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
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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.
Edward Richards Thorne & Co. Accountants 1 St Mary's Street Ross-on-Wye Herefordshire HR9 5HT
22 July 2021
Page 3
Ross-on-Wye & District Community Association
Statement of Financial Activities for the Year Ended 31 December 2020
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 73,468 Other trading activities 2 65,867 Investment income 3 1,604 Total 140,939 EXPENDITURE ON Raising funds 2,509 Charitable activities Support costs 138,685 Total 141,194 NET INCOME/(EXPENDITURE) (255) RECONCILIATION OF FUNDS Total funds brought forward 216,381 TOTAL FUNDS CARRIED FORWARD 216,126 |
Restricted funds £ - - - - - 40 40 (40) 80 40 |
31.12.20 Total funds £ 73,468 65,867 1,604 140,939 2,509 138,725 141,234 (295) 216,461 216,166 |
31.12.19 Total funds £ 46,638 148,700 2,981 |
|---|---|---|---|
| 198,319 10,113 154,275 |
|||
| 164,388 | |||
| 33,931 182,530 |
|||
| 216,461 |
The notes form part of these financial statements
Page 4
Ross-on-Wye & District Community Association
Balance Sheet
31 December 2020
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 131,091 CURRENT ASSETS Debtors 8 13,225 Investments 9 17,567 Cash at bank 62,148 92,940 CREDITORS Amounts falling due within one year 10 (7,905) NET CURRENT ASSETS 85,035 TOTAL ASSETS LESS CURRENT LIABILITIES 216,126 NET ASSETS 216,126 FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 40 - - - - - - 40 40 |
31.12.20 Total funds £ 131,131 13,225 17,567 62,148 92,940 (7,905) 85,035 216,166 216,166 216,126 40 216,166 |
31.12.19 Total funds £ 143,963 10,460 16,001 61,246 87,707 (15,209) 72,498 216,461 216,461 216,381 80 216,461 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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
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Ross-on-Wye & District Community Association
Balance Sheet - continued
31 December 2020
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 22 July 2021 and were signed on its behalf by:
B J Marshall - Trustee
J E Hewson - Trustee
The notes form part of these financial statements
Page 6
Ross-on-Wye & District Community Association
Notes to the Financial Statements for the Year Ended 31 December 2020
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.
Long leasehold - 10% on cost Fixtures and fittings - 10% on cost
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.
Investments
Investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.
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Ross-on-Wye & District Community Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
2. OTHER TRADING ACTIVITIES
| Fundraising events Lettings Catering Membership subscriptions Sections Mast site rental LPG site rental Solar income 3. INVESTMENT INCOME Deposit account interest Gain/(losses) on investment assets 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
31.12.20 £ 162 41,907 6,304 1,515 1,350 12,921 494 1,214 65,867 31.12.20 £ 38 1,566 1,604 31.12.20 £ 22,665 |
31.12.19 £ 2,820 93,194 31,298 1,353 5,030 12,645 999 1,361 |
|---|---|---|
| 148,700 | ||
| 31.12.19 £ 134 2,847 2,981 31.12.19 £ 22,503 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.12.20 | 31.12.19 | |
|---|---|---|
| Management | 2 | 2 |
| Administration | 5 | 5 |
| 7 | 7 |
No employees received emoluments in excess of £60,000.
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Ross-on-Wye & District Community Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
7. TANGIBLE FIXED ASSETS
| Long leasehold £ COST At 1 January 2020 144,644 Additions - At 31 December 2020 144,644 DEPRECIATION At 1 January 2020 38,741 Charge for year 14,372 At 31 December 2020 53,113 NET BOOK VALUE At 31 December 2020 91,531 At 31 December 2019 105,903 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments and accrued income 9. CURRENT ASSET INVESTMENTS Listed investments 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Accruals and deferred income |
Fixtures and fittings £ 137,052 9,833 146,885 98,992 8,293 107,285 39,600 38,060 31.12.20 £ 13,225 - 13,225 31.12.20 £ 17,567 31.12.20 £ 5,181 1,324 1,400 7,905 |
Totals £ 281,696 9,833 |
Totals £ 281,696 9,833 |
||
|---|---|---|---|---|---|
| 291,529 | |||||
| 137,733 22,665 |
|||||
| 160,398 | |||||
| 131,131 | |||||
| 143,963 | |||||
| 31.12.19 £ 7,950 2,510 10,460 31.12.19 £ 16,001 |
|||||
| 31.12.19 £ 11,868 1,699 1,642 15,209 |
|||||
| 15,209 |
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Ross-on-Wye & District Community Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
11. MOVEMENT IN FUNDS
| At 1.1.20 £ Unrestricted funds General fund 216,381 Restricted funds Fixed assets 80 TOTAL FUNDS 216,461 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 140,939 Restricted funds Fixed assets - TOTAL FUNDS 140,939 Comparatives for movement in funds Net movement At 1.1.19 in funds £ £ Unrestricted funds General fund 182,410 (11,007) Restricted funds Fixed assets 120 (40) Lottery Fund - 10,000 Leaders Trust - 34,978 120 44,938 TOTAL FUNDS 182,530 33,931 |
Net movement At in funds 31.12.20 £ £ (255) 216,126 (40) 40 (295) 216,166 Resources Movement expended in funds £ £ (141,194) (255) (40) (40) (141,234) (295) Transfers between At funds 31.12.19 £ £ 44,978 216,381 - 80 (10,000) - (34,978) - (44,978) 80 - 216,461 |
|---|---|
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Ross-on-Wye & District Community Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 153,341 | (164,348) | (11,007) | |
| Restricted funds | ||||
| Fixed assets | - | (40) | (40) | |
| Lottery Fund | 10,000 | - | 10,000 | |
| Leaders Trust | 34,978 | - | 34,978 | |
| 44,978 | (40) | 44,938 | ||
| TOTAL FUNDS | 198,319 | (164,388) | 33,931 | |
| A current year 12 months and prior year 12 months combined position is | as follows: | |||
| Net | Transfers | |||
| movement | between | At | ||
| At 1.1.19 | in funds | funds | 31.12.20 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 182,410 | (11,262) | 44,978 | 216,126 |
| Restricted funds | ||||
| Fixed assets | 120 | (80) | - | 40 |
| Lottery Fund | - | 10,000 | (10,000) | - |
| Leaders Trust | - | 34,978 | (34,978) | - |
| 120 | 44,898 | (44,978) | 40 | |
| TOTAL FUNDS | 182,530 | 33,636 | - | 216,166 |
| A current year 12 months and prior year 12 months combined net movement in funds, | included in t | |||
| above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 294,280 | (305,542) | (11,262) | |
| Restricted funds | ||||
| Fixed assets | - | (80) | (80) | |
| Lottery Fund | 10,000 | - | 10,000 | |
| Leaders Trust | 34,978 | - | 34,978 | |
| 44,978 | (80) | 44,898 | ||
| TOTAL FUNDS | 339,258 | (305,622) | 33,636 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
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Ross-on-Wye & District Community Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
13. LIMITED BY GUARANTEE
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
Page 12