THE KEMPSTON COMMUNITY ASSOCIATION LIMITED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30'" JUNE 2024 CHARITY REGISTRATION NUMBER: 1109049 COMPANY NUMBER; 05396860
THE KEMPSTON COMMUNITY ASSOCIATION LIMITED
CONTENTS
Page
Charity Information
Trustees’ Report
1 2
Statement of Trustees’ Responsibilities
4
Independent Examiner's Report
5
Statement of Financial Activities 6 Balance Sheet 7
Notes to the Financial Statements
8
THE KEMPSTON COMMUNITY ASSOCIATION LIMITED
CHARITY INFORMATION FOR THE YEAR ENDED 30TH JUNE 2024
| CharityNumber : | 1109049 | |
|---|---|---|
| Trustees: | J Manners C J Atkinson |
|
| D J Longman | ||
| A Martin | ||
| P S Bayley (appointed on 06 November2023) | ||
| LG Stewart (appointed on06 November 2023) | ||
| ° | D Burns (appointed on06 November2023) | |
| G Dear(appointed on 06 November2023) | ||
| Secretary: | J Manners | |
| Registered Number: | 05396860 (England&Wales) | |
| Registered Office: | First Floor,Woburn Court 2 Railton Road, Woburn Road Industrial Estate |
|
| Kempston | ||
| Bedford MK42 7PN |
||
| Bankers: | Barclays Bank 111 High Street |
|
| Bedford MK40 1YN |
||
| Independent Examiner: | A Di LorenzoFCA | |
| HW Bedford Limited | ||
| 2 Railton Road, Woburn Road Industrial Estate | ||
| Kempston | ||
| Bedford MK427PN |
1
THE KEMPSTON COMMUNITY ASSOCIATION LIMITED
TRUSTEES’ REPORT FOR THE YEAR ENDED 30TH JUNE 2024
The trustees present their report and the financial statements of the charitable company for the year ended 30" June 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities (FRS102)" for preparing the annual report and financial statements.
Objectives and activities for the public benefit: The objects of the charitable company are:
a) To promote for the benefit of the inhabitants of the beneficial area (the urban district of Kempston) without distinction of sex or political, religious or other opinions by associating with the local authorities, voluntary organisations and inhabitants 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.
b) To secure the establishment of a Community Centre and to maintain and manage such a Centre for activities promoted by the Association and its constituent bodies in furtherance of the above objectives. Legal framework ce The charitable company is limited by guarantee, with liability limited to £10 per member. The charity is governed by its memorandum and articles of association. Review of operations The trustees are satisfied with the results for the year, reporting a deficit on unrestricted funds of £1,673 (2023: Deficit £11,278). . .
No local authority grants were awarded by Bedford Borough Council in the financial year (2023: ENil).
Financial Highlights | a a The results for the year are shown in the statement of financial activities on page 6. These results are considered satisfactory by the trustees. TrusteesThe trustees (who are.also directors of The Kempston Community Association Limited for the purpose of company law) during the period under review were as follows: , J Manners C J Atkinson D J-Longman . . A Martin P S Bayley L G Stewart D Burns G Dear
No trustees received any remuneration for their services during the period.
2
THE KEMPSTON COMMUNITY ASSOCIATION LIMITED
TRUSTEES’ REPORT
FOR THE YEAR ENDED 30TH JUNE 2024
Trustee appointment and induction
Members of the general public or representatives of local authority bodies can be appointed as trustees. Potential new trustees are proposed at the Annual General Meeting and subject to a majority consent.
The charity is fortunate to have a number of trustees who have been with the association for a long period, who are able to pass on their knowledge and experience of the organisation. Any new trustees are also made aware of their legal obligations under charity and company law, the content of the memorandum and articles and the committee's decision making process.
Organisational structure
The trustees hold regular meetings and decisions are made upon majority consent. The day to day operations are carried out by the centre manager, company secretary and their team.
Governance The Kempston Community Association Limited are working towards compliance with “Good Governance — a Code for the Voluntary and Community Sector’, published in June 2005.
Reserves Policy
itis the Charity’s aim to hold a minimum of six month's overhead costs in unrestricted reserves at all times to ensure the charity has sufficient reserves to further its charitable objectives. At the year-end unrestricted reserves amounted to £81,770 (2023: £88,553).
Risks The trustees believe that the charity is not exposed to any material risks. The trustees are satisfied that the appropriate level of insurance cover is in place should anything happen to damage their main asset.
Grant making policy
The charity has no set policy in relation to making grant payments.
Investment policy The investment policy is to only hold tow risk investments, to safeguard the charity's funds. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
On behalf of the trustees
A Martin - Trustee
Date: NVQ 2
3
THE KEMPSTON COMMUNITY ASSOCIATION LIMITED
STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 30TH JUNE 2024
Company law, and other laws applicable to charities in England and Wales require the trustees (who are also directors of The Kempston Community Association Limited for the purpose of company law) to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity's financial activities during the period and of its financial position at the end of that period.
In preparing those financial statements, the Trustees are required to follow best practice and:
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— select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonabie accuracy at any time the-financial position of the charity, to enable them to ascertain the financial position of the charity and which enables them to ensure that the financial statements comply with the Companies Act 2006 and the CharitiesAct 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
|
On behaif of the Trustees .
ae
A Martin - Trustee
Date. W.2.1.22.24....
4
THE KEMPSTON COMMUNITY ASSOCIATION LIMITED
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Independent Examiner's Report to the Trustees on the
Unaudited Accounts of The Kempston Community Association Limited
For the year ended 30th June 2024
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| report on the accounts of the charitable company for the period ended 30" June 2024, which are set out on pages 6 to 12.
Responsibilities and basis of report As described on page 4 the trustees, (who are also the directors of The Kempston Community Association Limited for the purpose of company law), are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. | am qualified to undertake the examination being a qualified member of the Institute of Chartered Accountants (England & Wales). Having satisfied myself that the Charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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e examine the accounts under section 145 of the 2011 Act; e to follow procedures laid down in the general Directions given by the Charity Commissioners
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e to state whether particular matters have come to my attention and under section 145(5)(b) of the 2011 Act; and
independent examiner's statement | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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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 .
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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 Ul
oe beC in this report in order to enable a proper understanding of the accounts to be reached. A Di Lorenzo FCA / HW Bedford Ltd First Floor, Woburn Court 2 Railton Road Woburn Road Industrial Estate Kempston Bedford MK42 7PN . Date: Ma fas: .
5
THE KEMPSTON COMMUNITY ASSOCIATION LIMITED
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||||||||
|---|---|---|---|---|---|---|
|STATEMENT OF|FINANCIAL ACTIVITIES|
|(INCLUDING|INCOME AND EXPENDITURE ACCOUNT)|
|FOR THE YEAR ENDED|30TH JUNE|2024|
|Restricted|Unrestricted|Total Funds|Total Funds|
|2024|2024|2024|2023|
|Income and endowments from:|£|£|£|£|
|Generated funds|
|Donations|and Legacies|
|Grants & Donations (note 4)|-|8,460|8,460|3,727|
|income|from|charitable|activities|&|fund|raising|
|Fund|raising|proceeds|-|41,819|11,819|4,016|
|income|from|other trading|activities|
|Bar takings|-|21,972|21,972|28,979|
|Hall|lettings|-|80,049|80,049|76,556|
|Total|-|122,300|122,300|113,278|
|Expenditure|on:|
|Raising funds|
|Charitable &|trading activities|
|Purchases|(adjusted|for stack)|-|10,432|10,432|11,798|
|Wages &|salaries|-|53,804|53,804|51,186|
|Repairs & renewals|-|14,733|14,733|5,024|
|Laundry,|cleaning & refuse|-|5,864|5,864|4,800|
|Light &|heat|-|14,056|14,056|19,641|
|Insurances|-|7,809|7,809|7,121|
|Rates|-|2,601|-|2,691|2,014|
|Licences|-|999|999|617|
|Telephone|-|1,009|1,009|882|
|Postage,|stationery & advertising|-|983|983|17|
|Sundry expenses|-|17|17|315|
|Depreciation|325|3,656|3,981|1,794|
|Other costs|
|Bank charges and terminal fees|-|307|307|1,111|
|Wages & salaries|-|4,652|4,652|15,903|
|Professional fees|-|826|826|818|
|Accountancy & independent examination|-|1,900|41,900|1,900|
|325|123,648|123,973|124,941|
|Net income for the year|(325)|(1,348)|(1,673)|(11,663)|
|Transfer between|funds|:|:|:|:|
|Net Movement in funds|(325)|(1,348)|(1,673)|(11,663)|
|Reconciliation|of funds|
|Funds brought forward|218,867|88,553|307,420|319,083|
|Movement|in funds for the year|(325)|(1,348)|(1,673)|(11,663)|
|Funds as at|30 June 2024|218,542|87,205|305,747|307,420|
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The statement of financial activities includes all gains and losses in the period.
None of the charitable company’s activities were acquired or discontinued during 2023 or 2024.
6
THE KEMPSTON COMMUNITY ASSOCIATION LIMITED
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|---|---|---|---|---|
|BALANCE|SHEET|
|AS AT|30'" JUNE|2024|
|Notes|2024|2023|
|£|£|
|Fixed Assets|6|253,547|227,703|
|Current Assets|
|Stock|2,419|3,581|
|Debtors & prepayments|7|7,183|655|
|Bank & cash|in|hand|§5,629|85,637|
|65,231|89,873|
|Creditors:|Amounts|falling|
|Due within one year.|8|13,031|10,156|
|Net current assets|§2,200|79,717|
|Total|assets|less|current|
|liabilities|305,747|307,420|
|income funds|
|Charity funds|9|87,205|88,553|
|Restricted|funds|10|218,542|218,867|
|Tota! funds|305,747|307,420|
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Ihe charitable company is entitied to exemption trom audit under Section 477 ot the Companies Act 2006 and the Charities Act 2011 for the year ended 30" June 2024.
The members have not required the charitable company to obtain an audit of its financial statements for the period ended 30" June 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
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° ensuring that the company keeps accounting records which comply with section 386;.and e preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the period and of its profit or loss for the financial period in accordance with the requirements of section 394 & 395 and which otherwise comply with the requirements of this
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_ Act relating to accounts, so far as applicable to this 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 trustees on - 12- 2h. and were signed by:
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A Martin - Trustee °
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7
THE KEMPSTON COMMUNITY ASSOCIATION LIMITED
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2024
1 Accounting policies
Basis of accounting These accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland", the Charity SORP (FRS 102) and the Companies Act 2006.
Advantage has been taken of the provisions of Section 1A of FRS 102 to exempt the charity from preparing a cash flow statement.
Advantage has also been taken of Paragraph 4 (1) on Schedule 1 of the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008 allowing the format of the financial statements to be adapted to reflect the special nature of the charity's operations.
Incoming resources Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it, or when the donor has specified that the income is to be expended in a future period.
The income from trading charitable activities derived from the provision of services are included in the period in which the supply takes place, after the deduction of discounts and value added tax.
Grants received from government and other agencies are included as income from activities in furtherance of the Charity’s objectives where they amount to a contract for services, but as donations where monies are given with greater freedom of use. Any amounts received for specific purposes are accounted for as restricted funds.
Resources expended Resources expended are included in the statement of financial activities on an accruals basis, exclusive of reclaimable value added tax. Expenditure directly attributable to specific activities are included within those cost categories. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity, including accountancy fees, administrative salaries and costs linked to the strategic management of the charity. ) Funds accounting . os The funds held by the charity are a) Unrestricted general funds — these are funds, which can be used in accordance with the charitable objects at the discretion of the trustees. b) Restricted funds — these are funds, which can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funding is raised for a particular purpose. | Tangible fixed assets Capitalisation policy is to capitalise only assets of more than £250 in value, assets below these values are treated as revenue expenditure. Depreciation of fixed assets is calculated to write off their cost or valuation less any residual value over their estimated useful lines as follows: _ Property Improvements 10% straight line Fixtures & Fittings 15% reducing balance Freehold property is carried at historic cost and is not depreciated. . .
THE KEMPSTON COMMUNITY ASSOCIATION LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH JUNE 2024 :
1 Accounting policies continued
Hire purchase and leasing commitments Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the period of the lease.
Stocks
Stocks are valued at the lower of cost and estimated selling costs less costs to sell, after making due allowance for obsolete and slow moving items.
2 Operating profit
| 2 Operating profit |
|||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Operating profit is stated aftercharging: Depreciation—owned assets Accountancyfees - preparation ofstatutoryaccounts Accountancyfees -Independentexamination |
3,981 1,000 900 |
1,794 4,000 900 |
|
| . | |||
| 3 Staff costs |
2024 £ |
2023 £ |
|
| Wagesand salaries | 58,456 | 67,089 | |
| §8,456 | 67,089 | ||
| Theaverage numberoffulltimeemployees analysed byfunction was: | 2024 | . | 2022 |
| Charitableactivities 1 Administration 1 ee |
1 1 a |
No employee received emoluments of more than £60,000.
No remuneration or benefits in kind were paid to any trustee during the period.
4 Grants & donations
| 4 | Grants&donations | ||||
|---|---|---|---|---|---|
| 4 | Grants & donations | Restricted | Unrestricted | Restricted | Unrestricted |
| 2024 £ |
2024 £ |
2023 £ |
2023 £ |
||
| Friends Othersmallamounts |
- - - |
8,305 155 8,460 |
- - : |
3,335 392 3,727 |
a]
THE KEMPSTON COMMUNITY ASSOCIATION LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH JUNE 2024
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|---|---|---|---|---|---|---|---|
|§|Expenditure|Basis|Other|
|of|Trading|charitable|Total|
|allocation|activities|activities|Governance|2023|
|£|£|£|£|
|Costs|directly|attributable|to|activities|
|Cost of goods|sold|direct|10,432|-|-|10,432|
|Staff costs|direct|36,016|17,788|-|53,804|
|Premises|costs|% income|5,449|24,881|-|30,330|
|Repairs & renewals|% income|2,647|12,086|-|14,733|
|Licences|direct|999|-|-|999|
|Accountancy|-|-|1,900|1,900|
|Support|costs|allocated|to|activities|
|Staff costs|role|-|-|4,652|4,652|
|Professional|fees|managemet|:|-|826|826|
|Depreciation|usage|3,981|-|-|3,981|
|Admin & communication|usage|-|2,009|-|2,009|
|§9,524|56,764|7,378|123,666|
|6|Tangible fixed assets|.|Freehold|Property|Fixtures|
|property|improv'ts|& fittings|Total|
|£|£|£|£|
|Cost|;|
|At 1* July 2023|7|- 216,698|144,084|.|§2,197|412,979|
|Additions|-|22,340|7,485|29,825|
|Disposals|.|we|.|-|-|-|-|
|At 30" June 2024|ee216,698|166,424|§9,682|442,804|
|Depreciation|
|At|ist July 2023|-|144,084|41,192|185,276|
|Charge for the year|-|2,234|1,747|3,981|
|Elimination|on|disposal|:|-|-|-|
|At 30th June 2024|_ee146,31842,939|189,257|
|Net book amount|a|
|At 30th June 2024|216,698|20,106|16,743|253,547|
|At 30th June 2023|ee216,698|-|11,005|227,703|
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The property included above was valued at £655,000 by Messrs Black Horse Surveying Services in January 1999.
10
THE KEMPSTON COMMUNITY ASSOCIATION LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH JUNE 2024
7 Debtors
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|---|---|---|---|---|---|
|Debtors|2024|2023|
|£|£|
|Debtors|2,132|655|
|Value added|tax|5,051|-|
|7,183|655|
|8|
|)|
|2024|2023|
|Creditors|
|£|£|
|Trade|creditors|1,784|3,296|
|Deposits held|7,820|900|
|Vaiue added tax|,|oo|-|1,048|
|Social|security & other taxes|373|1,811|
|Accrued expenses|1,900|3,101|
|-|°|Other creditors|-|314|-|
|Net wages|840|-|
|13,031|10,156|
|9|Income Fund|2024|2023|
|£|£|
|At 1* July 2023|88,553|99,832|
|Net Movement|in Funds for the Year|(1,348)|(11,279)|
|87,205|88,553|
|Transfer|between|reserves|-|-|
|At 30" June 2024|87,205|88,553|
|10|
|Restricted Funds|2024|2023|
|£|£|
|At|1st July 2023|218,867|219,251|
|Net Movement|in Funds for the Year|(325)|(384)|
|218,542|218,867|
|Transfer between|reserves|-|-|
|At 30th June 2024|218,542|218,867|
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11
THE KEMPSTON COMMUNITY ASSOCIATION LIMITED
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2024
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|---|---|---|---|---|---|
|11|Analysis|of Net Assets|Between|Funds|
|Unrestricted|Restricted|Total|Total|
|funds|funds|2024|2023|
|£|£|£|£|
|Fixed assets|35,005|218,542|253,547|227,703|
|Current assets|65,231|-|65,231|89,873|
|Current|liabilities|(13,031)|-|(13,031)|(10,156)|
|oe|
|At 30" June 2024|87,205|218,542|305,747|307,420|
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12 Related Party Transactions
There were no transactions with related parties to disclose in the period.
12