COMPANY NUMBER.. 05099915 CLLAIUTY NUMBER,. I1140.?1 WHITTtNGTON PARK COMMUNITY ASSOCIATION (COMPANY LTMITED BY GUARANTEE WITHOUT SHAR8 C.4PlTAL) REPORT AND FtNANCTAL STATEMENTS FOR THE YEAKENDED 31 MARCH 2024
WH1INGToN PARK COMMUNITY ASSOCIATION INDEX TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page No. Chair's Report 2 - 7 Trustees, Annual Report (including Directors. Report) Independent Examiner's Report Statement of Financial Activities (including tncome and Expcnditure Account) io Balance Sheet Statement of C&8h Flows 12 - 20 Notes to the Financial Statements
wH1[NGToN PAR COMMUNITY ASSOCIATION CHAIR'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 This financial year marked the first full operational yeai. for WPCA following the refurbishment of our halls. The Board's priTnary strategy W&S to generate additional reveTJue by increasing hall hire income. This was achieved through tsvo main approaches- adjusting hourly rates to Teflect the iit]proved value of the renovated halls and extending the availability of hireable hours. To support this strategy, the WPCA expanded its team to enhance operatiollal efficiency and broaden its outreach. New hires included: An office rnanaggr to str¥amlin¢ opcratioDS and ensutc CopItanCe across tbe building and serYiLes. Marketino support to promote the venue. A service liaiiyon tv bUPPOrt thc Over-55b program and Youth Club. While these additions increased our costs. they proved critical to tbe success of OUT strategy. Thc ncw team effectively managed the increased operational workload due to higher footfall while ColltnUting to steady growtb in hall hire income. Despite significant progress. 2023 also broUt challenges. The closure of our Community Nursery was particularly difficulL Declining birth rates in LoDdon. mirrored aeross the borough's nurseries and primary schools. rendcrcd our intak¢ of new cbildrell unsustsinable. We ensured that all children were placed locally, and that staff Teceived appropriate 5UPPOrt during the Closure pro¢¢s$. Additionally, Ann Mason, our Centre Manager for over 12 years, retired this year. Her departure. coupled with the resignation of Alex, our Over-55s coordinalor, placed extrR demands on our small tearn. Nonetheles& the WPCA successfully expanded hall hire and other serYAces during this transitional period. At the end of the financial year, we welcomed Jo Co2[1 &8 our neiv Centre Manoger. Jo has already had a positive impacL bringing fresh energy and proactive leadership to the WPCA. Lokillg Èihedd, we &re optirnistic about th¢ opportunities to expand our services foT the community. including reopening the fe in early 2025 and launching Phase 2 of our building's expansion. Courtney Shapiro (Chair)
WHITTtNGTON PARK COMMUNITY ASSL)CIA'I'IUN TRUSTEES. ATrtNUAL REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trnstees present their annual report and financial ststements of the chariry for the year ended 31 March 2024. The trust¢es have adopted the proviSiOTJS of the Siaiement of RecoTnmended Practice (SORP) "Accounting and Reporting by Charities" {FRS 102) in preparing the <innual report and financial statements of the charity. The fllwJLial statemetlts have been prepared in accordance with the accounting policies set out in notes to the accounts aThd comply with the Mernorandutn and Articles of Association. the Charities Act 201 I, the Companies Act 2006 and Accoullting and Reporting by Charities.. Statement of Recommcnded PractiLe applicable to charities preparing their accounts ITh accordance with the FinanLial Reporting Starndd applicable in the UK and RepubliL of Ireland published in Octobcr 2019. Objeclives andActivitie Summary ol'the objec13 Ol'the charity sel oul iii its governing documenl (as amended) To PTomot¢ the Whittington Park Community Association and its seTViC¢5 for the beneflt of the people in the local area and as50¢iat¢d projects in the community. This is %lthot distinction of 5¢K, ag¢, religion, sexual orientstion, race, or of political, religious or other opinions. In planning our activities for the year we kept in mind the Charity Commission'5 guidance on public benefit at our stee meettng5. Sufflmary ofthe main acliviti(as in relation lo the objects The Whittington Park Community Association (WPCA) is a itgistered charity and company Limited by Guarantee. It operdtes a large complex ot buildings based in the Whittington ParK Junction Ward, in Islington as a community hub. Our beneficiaries range from babies to the elderly. Our Early Years Hub houses our nursery for 24 year olds, a Childminders Drop-in and Stay and Play for under 5s. Thursday night Youth Club Social club for 55 plus witli outreach 4H garden 10 volunteers support OUT social club activities and regular telephone contact, meals on bikes, 4H garde website and fundraising. Activities to delii)erpublic benejtf WPCA is a multi-use community centre located on the edge of Whittington Park. Our mission is to providc a welcoming and well-run centre toi. everyone, particularly individuals in need and groups in1s1ington to sustain and develop a vibrant community. Wc have rcccntly complcted phase l of a major renovation projcct and Tcopened 3 new spaccs foT community use along with income generation to support our services. What we do As part of this mission, we aim to reduce health inequalities by providing activities where income is not a barrier. Through hosting classes, events and group5 and PTovidiiig services for vulnerable group5- economically disadvantage4J faJnili¢$ through our community nursery. older, i501at¢d people through our Social Club for 55+ and Men's Social Club. Thurthy r]ight Youth Club for 13-19 year olds, we aim to provide early intervention and a well-Tound¢d, pla¢e-based offering to local people.
WHITTINGTON PARK COMMUNITY ASSOCIATION TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS. REPORT) (Continued) FOR THE YEAR ENDED 31 MARCH ?024 We ruT] a Tange of activities for 55 plus including a walk-in lunch club plus a delivery seTNrice 3 days a week. A range of activities to support mental, physical and emotiollal ivell-being and a place to meet new people and seek advice and signposting to support when required. We a communiry nursery preduminantly for economically disadvantaged families and 2 drop in stay and play services. one for childminders and one for parents and car. We also run a weekty youth club for 13- to 19-year-olds. With our new sports hall and upper halls open. wr are explffting ho. to n]aximise the usc of our rcfijrbishcd building spaces to benefit the community and llLaxirni5e ullrestiictLd inco6 to support existing services Under the following themes: Melltsl Health and Well-Being. PhysiGal Health/Well-being. and Upskilliug. Achievements gnd Performance Pivgrani Higliliglits Eiirl Ycdits IIub Operating 50 weeks a year on Wednesdays and Thiirsdays, the Early Years Hub continue5 to be a cherished spaLL' foT childre[4 parents, Larers, and Lhildn)inders. Its large outdooi. play area remains a central attraLtion. This year, ill partnership witb BL'ight Star¢ plaDt¢d a wild hedgerow border and held sumrn¢r droTrin sessioDs. A key highlight was the creation of a mural on Ibe builditig's exterior, designed by local artist Hells Gibson. This collab017tive project, involving children and comrrtunAty groups, celebraies the area's natLU71 habitat. Co[]]nic Nur5Ci Regrettably, our Con]munity Nursery c105ed at the end of 2023 due to external challenges, including fi]ndiug change8 and oversupply of nursery places in Islington. The nursery's tight busin¢ss tnodel, dependent on full &ttendan¢e, becatne unsustainable as rumiing costs exceeded government flding rates. This closure is no reflection on the quality of care provided, which was Consistently rated "very good,, nor oil ihe dedication of our outstanding nursery team. Youth Club The Youth Club has thTived in our newly r¢fuTbished halls. One standout initiative this year was the production of a short film in collaboration with a profcssional scriptwriter. director. and production team. The tilm premiered at tbc CTuuch End Arts Centre, with tbc young stars proudly in attendance. Progra such as the cooking club reill popular. offering young people opportwiities lo build confidence and foster friendships in a sate and supportive eTFvironrnenL Over-5Ss Pro arn Running on Tuesdays, Wednesdays. and ThuTsdays. thc Over-55s program provides a hot two-eouTse lunch both onsile and via bike delivery. The range of onsite activities has expanded to include liiie dynciDg. an enlarg¢d poety club with 29 men]b¢. art classes, and gentle exer¢i$e sessions. Members also enjoyed cultural outings to the British Museum &nd Kew Gardens. alongsido el¢brations such as Valentine's Day, Black History Month, and the annual Christmas paty
WHITTINGTON PARK COMMUNITY ASSOCIA"I'IQ)N TRUSTEES, ANNUAL REPORT (INCLUDING DIIiECTORS' REPORT) (Continued) FOR THE YEAR ENDED 31 MARCH 2024 Team and L adershi This year arked significant transitions within our team. A[ Mason, our long-5erving Ccntre Manager, retired after over 12 years of exceptional leadership. Ann spearhE4ded nuTnerous developrnents, including the creation of new services, ovcrseetng our building refurbisbment. and guiding the WPCA througb the challengcs of the Covid pandemic. The Board extends heartfelt thanks to Ann for her dedication and wishes her a fulfilling relirernent. We also bid farewell to Alex. our Over-55s coordinator, Ivhose efforts greatly enriched the program. Special thath go lo our core team-Jo, Marun, Gary, Yirgelem, and Sophi¢-for their bard work and comllLitment during this lime of ¢hange. Additional support from freelance bookkeeper Jane and marketing advisor Isabelle has becn invaluable in optimizing our hall bire strategy. The Board is optimistic about the year ahead and looks forward to continued growth under Jo's leadership. Financial Revlew FolloThing the refurbishment of the Hocking Halls we are now sceing a steady income from the hall hire. However. thc charity has made a deficit for the year in unrestricted funds of£68,184, which includes a transfer of £5,51 O of unrestricted fund5 to the building fund to support the refurbishment of the Hocking Halls (see note 17 and 17.1). Total income for the year ha5 dccTcased by 18 /0 and total expcnditllrc has decreased by 21 D/0, At the year end the lotal unrcstricted free resers'es ivas £74,264 (2023 £142,448) of which £18,968 (2023 £24,478) bas been designated to continue woik on the ha115 IrthrbislLm¢llt. The total restricted fund at the year-elld Th'as £25,819 (2023 - £22,789). Reserves Polic). The trustees have a policy to relain an unrestricled balance equivalent to three months unrestricted expendIre. At 31 March 24, general ndS were £55,296 (2023 - £117,970) which is nearly four months of unrestricted expendIre. incipal Funding Sourccj The charity's PTin¢ipal sowces of fLmd5 (including fundraising), ranked by contributiott, are.. Grants from Islington Council Hall hire and rental Service fres Plansfor Fulure Perio Our plans are under continual Lhange and revision as we adapt services in line with Current restrictions.
WHITTINGTON PARK COMMUNITY ASSOCIATION TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS. REPORT) (Continued) FOR THE YEAR ENDED 31 MARCH 2024 Structure, Governance andmanagement Governing DoLument The charity is constituted as a Company LimiLed by Guarantee incorporated Oll 13 April 2004 under the name of Whittington Park Comtnunity Associaiion. li was registered as a CllY ivith tbe Chariry Commission on 4 May 2006. In the event of the COLnpany being wound up. all niembers present and 12 months past arc required to contrlbute an amount not exceeding £1. Recn4ithieiit andAppoinlnienl of Trustees Tntee selectTOll is by election. All new tnteeS ar¢ illduct¢d to the board, each trusteeship caffies a detailed job description and training is on offer. Charities Oisaniiational Strncture A Voluntary Management Committee, who is the board of Iruslees of the charity, rnanages the Charity. Hoiiorary officers and represeiitatives of 11 members are elected annually at the AGM, while representatives of the various pmjects are elected by the 8ervice users and appointed at the AGM. The management Lommittee meets monthly to set policies and agree the organisations strategic direction. Ovcrall rcsponsibility for the day-to-day rnnning of the centre, staff and volunteers is devolved to the CEO. Divisioiial Co-ordinators are Tesponsiblc for thc manage]nent of individual Projects and assist in the line management of divisional staff in thciT tcain. Remuiieration o/"Kev Managemeni Personnel The Trustees set pay and reinuJ]eration of key inanageinellt personnel on all annual basis. which are based on salary pay scale nornis in Londoll. sJp.slel and Procedupe,f lo Jvanage Ri.fk Th¢ board of ttustees receives a quarterly financlal reporL a monthly CEO report and an annual risk register higbligbting potential risk factors and recommendations to minimise adverse effect. The Wider N*lwoi'k with which Èhe Charity Works The assoLiation is working in partnership with the IoLal authoiity, voluntary and other Org¢15ationS to provide facilities of social ivelfare, recreation, educatloll, and health improvement. The organisation's aim is to increase social inclusion and play a part in improving the wellbeing of the centre's users and che community.
WHIThINGTON PARX CONLMUNITY ASSOCIATION TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS. REPORT) (Continued) FOR TEtE YEAR ENDED 31 MARCH 2024 Reference andAdmlAistrative Details Charity, registration iiuniber.. 1114033 Con¥)dny registratioii ntsntber,. 05099915 Register aiidpriiieipal office.. Yerbury Road London N194RS Direc¢(prs and Trwtee.s The Board of ffiLStee5 COT15titutes diTecloTS of the covnpany for the Purpose of Lompany law and tru5tces for the purpose of charity law. The trustees serving during the year and Since the yeaT-end were as follows.. C Shapiro J Purcell J Uden (resigned 26 March 2024) J Burgess G Modood A Ruddock J Solanki G Chapma ConiponJT secretary,: E Case Cliie]'execuÈive o]licer.' A Mason (resigned 30 June 2024) J Corrall (appointed l July ?024) Independent ayamincr.. Barcant Beardon Limlted Chartered Accouiit8ntS 8 Blackstock Mv$ Islington London N4 2BT anker.f.' HSBC 3 12 Seven Sisters Road Finsbury Park London N4 2AW CAF Bat Kings Hill West Malling Kent ME19 4TA Triodos BaLk DeaDery Road Bristol BSI SAS
WHIrfINGTON PARJ( COMMUNITY ASSOCIATION TRUSTEES, ANNUAL BEPORT (INCLUDING DIRECTORS, REPORT) (Continued) FOR THE YEAR ENDED 31 MARCH 2024 SiaÉeménl of ihe Trustees, Responsibilities The trustees (who are also directOT8 of Whittington Park Community Association for the purposes of company law) are responsible for prepaTing thc Trnstecs, MUal Report and fanCIal statements in accordance with applicable law and United Kingdom Accounting StandaTds (Ullitcd Kingdom Generally Accepted Accounting Practice). Company law i'equires the trnstees to prcpaTC financial statements for each fjnancial year. Under company law thc irustees must not ap.0ve the financial statcmcnts unlc&s they are salisfied ibal thcy give 2 truc and fair view of thc statc OF affairs of ihc charitable company and of the incorning Icsourccs 2nd application of rcsourccs, including ihe incomc and cxpcnd1rc. of thc charitablc company for ihe that pcriod. In prcparing thcse financial slatcmcnts, thc trustec& arc reqiiired to= Select suitable acoouiitiiig polici¢s and then apply them consistently- Observe the methods aiid principle8 in the ChaTitics SORP 2019 (FRS 102)- Make judgemenls and estimates that are asonab]C and pnllknt. stste whether applicable UK Accounting StandaTd5 have been follow¢d, subjectto any material d¢parturesdisclosed and explain¢d in the financial stateinents. and Prepare th¢ financial statements on the going concern basis unless it is inappropriate to PT¢sum¢ that the charitable ompany will Continue in business. The tTUStees are responsible for keeping adequate aLcounting records that disclose with reasollable acc'uracy at any time the financial position of the charitsble company and to enabl¢ them to ensure that the financial statements uomply ivith the Companies Act 2006. Th¢y are also responsible tor safe.arding the assets of the charitable Lompany and hence for taking reasonable steps foi. th¢ prevention and detebtion of fraud and other IrreglariticS This report bas been prepared in aGcoTdance ivith the special provisions relating to small compaiiies within Part 15 ot the Companies Act 2006. On behalf of the board. Courtney ShapAI'O (Chair) Director and Trustee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WHIThINGTON PABX COMMUNITY ASSOCIATION L report to the charity tSteeS my examination of the accounts of tbe company for the year ended 31 March 2024, which are set out on pages 9 to 20. RespO11b11{tses and basis of report As the charity trustees of the company (and also ils directors for the purposes of company law) you are responsible for the preparation of the aceounL8 in accordance with the requirements of the Companies Act 2006 ('Ihe 2006 Act"). Having satisfied myself that the accounts of the company are nut required to be lldited under Part 16 of the 2006 Act and are eligible for independent examination, I rq)ort in respcci of my examination ofyou company's accounts as carried out under section 145 of the Charities Act 201 i ('the 2011 Acl"). In canying my examination I have followed the Directions given by the Charity Commission vnder section 145(5)(b) of the 2011 Act. IndependeKr Miner'S statement Since the company's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 201 l Act. l Confirm that T am qualified to undertake Ihe examination because l am a rnembeT of The Institute of CbarteTed Accountants in England and Wales, which is one of the listed bodies. I hake completed tny examination. I confirtn that no matter bas come to my attention in Connection with the examination giving me cause to believe that in any rnaterial respect- accounting records wer6 not kept in Tespect of the company as required by section 386 of the 2006 Act" or the accounts do not acGord with those records- or the aLCOUDts do llot iomply with the aLLOUnting requir¢m¢nts of section 396 of the 2006 ALt other than any requirement that the aLcounts give a'true and fairTriew' M'hich is not a matter considered as part of an in(iependent ¢xamination; or the accounts have not been prepared in accordance with the methods and principles of the State¢t of Reconun¢llded Practice for accounting and Teporting by charities applicable to charities Preparing their accounts in accordance with the Financia] Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I hav¢ no ¢on¢erns and have come across no other matters in connection with the examination to which atfrntion should be drawn in this re.port in orde.[ to e.nFble. a prope.r iinder.qtanding nf the Ae.coiints tn he reached, SI Shu Fen Chung FCCA ACA BARCANT BEARIJON LifwllTED Chartered ALLountsnts 8 BlaLkstoLk Mews Islington London N4 2BT
WHITTINGTON PARK COMMUNITY ASSOCIATION STATEMENf OF FINANCIAL ACTIVITIES (INCLUDING tNCOME AND EXPENDITURE ACCOUNT) FOR YEAR ENDED 31 MARCH 2024 Notes Reslricted Unrestricted Funds Funds Total Funds 2024 Tot81 Funds 2023 Jn¢onie and epidowmentsfroni.. Donations and legacies Cbaritsble activities Other trading activitieb Tnvestments 257,248 67.847 6,102 61,301 33,993 4,301 ?63.350 129,148 33,993 4,301 384,915 138,2?7 3.025 999 Total incorne and endowments 325.095 105,697 430.792 527.166 E.rpendilure on." ChaTitsbl¢ artiYiti¢s 327.575 168.371 495,946 626,605 Total expenditure 327,575 168,371 495,946 6?6,605 Net incomel(expenditure) for the. year (2,480) (62.674) (65,154) (99,439) Transfers between ndS 17 5,510 (5.510) Net incopne/(expendithre) and nef movemenl zrt ft4nd.¥ for iheyear 3,030 (68,184) (65,154) (99.439) Total tiinds brouJ)t tOrW 17 22,789 142.448 165,237 264.676 Total fund5 ¢ani¢d forward 17 25,819 74.264 100,083 165,237 The. 8tHtv.mp.nt Df finane.IRI ac.tiiiit.ie.s ini..Iiide.8 811 gains Ins4es rer.ogni,sed diiring the year. All income and expenditure derive from continuing activities.
WHITTtNGTON PARK COMMUNITY ASSOCIATION BALANCE SHEET AS AT 31 MARCH 2024 Notes 2024 2023 Fired uysets Tangible fed assets 14 2,340 Cui'rent assÉts DebrS Cash at bank and in hand 15 24,055 277.757 8,876 218,954 301,812 227.830 Creditors." amounts falling due witbin one year 16 (204.069) (62.594) Nel ciirrenl assets 97,743 165,236 Net assets 100.083 165.237 Funds Restricted funds unrestrict funds Designated funds G¢n¢ral fimds 17 25,819 22.789 17 17 18,968 55,296 24,478 117,970 Total tunds 100,083 165237 For th¢ year ended 31 March 2024 th¢ Company was entitled to exemption from audit undeT section 477 of the Companies Act 2006 relating lo small companies. Directors. responsibiliti¢5- The Luetnb¢rs haNe not required the company to obtsin an audit of its fmancial statements for the year in question in accordance with section 476; The directors acknowledge their responsibilities for complying with the requirements of the Act with respect io accollnting records and the preparation of financial statements. These financial statements are prepared in accordance with the special provisions of Parl 15 of the ConApanies Act. relating to snull companies. Signed on beh f tli¢ board ttts Jeelendr¢i Solanki (Treasurer) DiTector and Trustee !K.fyL.coW..?aoy- The notes on pages 12 - 20 fonn part of these fmancial sthtements. Company Registration No. 05099915 10
WHITTINGTON PARK COMMUNITY ASSOCIATION STATEMENT OF CASH FLOWS AS AT 31 MARCH ?024 Notes 2024 2023 Cashflowfrom operating activities Net Cash provAded by operating activities 19.0 57,620 {64,811) C(Lfhflowfrom investing octiviti Tnterest income Purchase of tangible fixed assets 4,301 (3,118) 99() 1.183 999 Net increase in casli and cash equivalenls in the)ear 58,803 (63,812) CILih and cash equivdlenls at the begiiining oftheyear 218,954 282,766 Ch and Lash equ£valenls at ihL• ofth¥year 277,757 218,954 Analysif oscA and cash equivaleiits Cash in bank and in hand 277.757 218,954 Cash and Lash equlvalenls al Ihe end of theyear 19.1 277,757 218,954
WHITTfNGTON PARK COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1.0 Accounling Policies The principal accounting policies adopted, judgements and key sources of estin]ation uncertainty in the preparation of the ftnancial staternents are as follows: l. l General irtformalion and b1 ofpreparaÉiun Whitlinglon Park CommuNity Association is a company limited by guaratllee and has no shate ¢apAtal. In the event of the chlty being wound up. the liability iti respect of the guarantee is limited to £1 per member of the charity. The registered office is Yerbury Road, London Nl 9 4RS. The charity constitutes a public benefit entity as defiiied by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended PrdCti¢¢ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102}. the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Pra¢ti¢e. The financial statements aTe prepared on a going concern basis under the historic cost conN'ention. The finan¢ial slatemettts are prepared in sterling, whi¢h is the fullction471 curr¢n¢y of the coinpany. Monetary amouiits in these finan¢ial statetnents are rounded to the nearest £. 1.2 Fund accounting Unrestricted funds are available for use at the discTetion ot the trustees in filrtherance of the general objectives of the charity and which have not been designated for other PUTposes. Unrestricted funds are donations and other income recfflved or generated for the objects of the charity without further specified purpose and are available as general fvnds. Designated funds are unrestricted funds earmarked by the trustees for p&rti¢ular purposes. Restricted fimds fiwds which are to be used in accordance with specific reslrictions imposed by donors or wlii¥li liave beei) I'aised by die chlty for particular purposes. 1.3 Income reeogrtition AII incoming resour¢es are included in th¢ St8tem¢nt of Financial A¥ivities (SOFA) when the charity is legally entitled to tbe income after any perfonn8nLe conditions have been met, the amount can be measured reliably and Lt is probable that the income wryll be recttive(L For donations to be recognised the charity will baiTe been notified of the amoun and the settlement date fjn wilting. If there 1c conditions attached to the donation and this iequires a level of performdnce before entitlement an be obtained thell income is deferred until those conditions are fully met oi" the lfilMent of those conditions is within the control of the charity and it is probable that they will be lfilled. No amount is included in the financial statements for volunteer lime in line with SORP (FRS 102). Further detail is given in the Trustees. Annual Repon. lllcome from trading activities includes income earned from tradAng activities to raise fllnds for the charity. Income is receii'ed in exchange for supplying goods and services in ord¢r to raise fid$ and is recognised when entitlement has occurred. 12
WHITTINGTON PARK COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 Income from goverllmeut and other grants are recognised at fair value when the chariry hag entiilement after any perfomanec conditlolls have been met. it IS Probable that the income will be re¢eived and the amount c) be measured reliably. If entitlement is not met then these amounts are deferred. Interest income is recogni5ed when receivable and the amount can be measured reliably by the charity" this is normally upon notification of the interest paid or payable by the Bank. 1.4 E.rpeiidilui e i'ecogiiilioii All cxpcnditurc is acLounted for on an accTuals bdsib and has been classified under hcadings that aggrcgatc all costs rclatcd to tbc catcgory. ExpcnditUTC is rccoglliscd whcrc thcre is a legal or Constructivc obligation to makc payments to third parties. it is probable thai the selllement will be requiTed and the amount of ihe obligation can be measured reliably. It is categorised under the following headings.. Costs of raising ndS comprise the cosis incurred on activities that raise thnds. Expenditure on charitable activities comprises those costs incurred by thc charity in the deliYeTy of its activities and services. It in¢ludes both costs that can be allocated directly to such activities and those costs of an indircct nature necessary to support thetn. Other expenditui'e represcnts those items not falling into any other heading. Irrecoverable VAT 15 charged as all expellse against the activity t.or w&ich expenditure arose. J.5 Support cosls allocalion Support costs are those functions that asbist the work of the charity but do not directly represent charitable ctivities and include pi'emi5¢s overheads, office. fin4Lnce and govern<ince costs. They are iiicucd directly in support of expenditure on the objcbts ot the chartty. Where support costs callnot be directly attrtbuted to particular headings they have been allocated to cost of raising funds and expendinire on ctLaTitable activilies on & basis consistent with use of th¢ resource5. 1.6 OperatingLeases Rentals payable under operating leases are charged to the Statement of Financial Activities on a straight lin¢ basis ovcr thc pcriod of thc Ic&sC. 1. 7 TaiigEblefLred a.Y.iet. Tangible fLxed assets ale capitalised at cost atLd depreciated over their esti[nad useful economic life. as follows.. Fixtw"cs, fittitLgs & equipment- straight line ovci 4 yeats l.N Dehior,f Trade and other debtors arc rccognised at the settlement amount. PrepayrnctLts are valued at the amoullt prepaid. 1.9 Ci-edilors andpioiiisions Creditors and provisiolls are recognised where the cbaTity bas a picscllt obligation resulting from a past event that will pi-obably result ill the transfer of funds to a third party and Ibe amount due to settle the obligalion can be measured or estimated reliably. CreditOTS and provisions are nornially recognised at theiT settlement amount. 13
WHITTtNGTON PARK CONIMUNITY ASSOCIATION NOTES TO THE FANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 l. IQ PrOv10S ProvisAons are recognised when the charity has an obligation at the balance sheet date as a result of a past even( it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estIMad. 1.11 Pensions The cojnpany operates a defmed contribution scheme for the benefit of its employees. Contributions payable are Charged in the Statement of Financial Activities iti the year they are payable. 1.12 Einployee benefits The cost of any unused holiday enliljement is recognised in the year in which the employee's services are received. 2.0 Crfll¢alA¢counting Estimates and Jmdgements In the application of the charity's ftccounting poli¢ies, the tn]stees are required to make judgements, estimates and assumptions about the carying aTnount of assets and liabilities that are not readily apparent from other sources. The estimates and associated a5SUIllPtions are based on historical experience and other factors that are considered to be relevant. ALtual results may differ trom these estimates. The estimates alld underlying assumptions are itviewed on an ongoing basis. R¢visions to accounting estimates arc rccoglliscd in thr period in which the cstillhatc is rcvised ivhere the i'evision affccts only that period. or in thc pcriod of the revision and futUTe periods ivhcrc thv revision affects both currEnl and future periods. 3.0 Imconiefrom Donation,$ and Legacles 2024 2023 6.840 256,510 5.477 379,438 Grants 263,350 384,915 3. 1 Incotne from donation and legleS was £263,350 (2023 - £384,915) of M,hich £257,248 L2023 - £371,850) was attributable to restricted funds and £6,102 {2023 - £13,065) was attributable to unresLricted fvnds. 14
WHITTfNGTON PARK COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 4.0 Incomefrom Charitable Aclivitie.F 2024 2023 Income from hall hire (sessional) Income from rental Income from fees Perfomhance related grants 13,760 39,996 7,545 67,847 39,996 5,689 92,542 129,148 138,227 IDCOtne from charitable tIvItieS was £129.148 (9023 _ £138.227) of which £67,847 (2023 - £92.542) was attributable to restricted funds and £61.301 (2023 - £45.685} was attributable to unrestricted funds. 5.0 liicomefrom Other Trading AcÉiviftes Unrestricted Unrestricted fuvjds fuiids 2024 20?3 Income from hall hii'e (non-sessional) 33,993 3,025 6.0 Incomefrom Investments Unrestricted Unrestricted nds funds 2024 2023 Bank interest (UK) 999 7.0 Analysis ofExpenditMre on Charilablf Activities Cbaritable Aaivities 2024 ActiN'ities undertokon dire£tly Support Governance C06ts Totsl Corntnunity Centre 298,273 192,873 4,800 495,946 7.1 Charitable Activities 2023 Activities utidertsken direcdy Support costs Governance costs Totsl Community Celltre 487,26.3 134,?42 5,100 616,605 7.2 Of th¢ £495,946 expenditUTe in 2024 (2023 - £626.605), £327,575 (20?3 _ £573,635) was attributable to restricted funds and £168.371 (2023 - £52,970) was attributable to unrestricted nds. 15
WHirrJNGTON PARX CONIMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 8.0 Analysis ofsupport and GovErnance Costs Support costs Goi'emance costs Total 2024 Total 2023 Staff costs Premises Office running Bookkeeping Legal attd professional Communications Infomiation Technology Finance Depreciation Accountancy 102,642 54.044 2,216 8,676 14,702 5,472 4,104 238 779 102.642 54,044 56,151 46,757 948 7.420 15.564 2.999 4.151 252 8,676 14,702 5,472 4.104 238 779 4.800 4.800 5.100 192.873 4.800 197.673 139,342 9.0 Net Ineome/(ExpendiKure)for ihe Year 2024 2023 This is sraled after charging.. Independent examiner's fev Dcpreciation 4.800 779 5,100 10.0 Trustees Remiineratiox ond Expenses Tbe ttustees ivere not paid ally remuneration or received any otller benefits during the year (2023- £nil). Two trustees (2023- none) received Teinibursement of expenses totalling £430 (2023 - £nil) during the year. No trustee or other person related to the charity had any personal interest in Any ¢ontract or ITansaction entered into by the cknaritable ¢ompany during tbe year (2023 - nil). Il.0 An51S of staff eosts 2024 2023 Wages and salaries Social security costs Defmed Lonts-ibution perLSioll costs 207,739 8,743 4,964 157.995 5,974 4,459 221.446 10.317 168,4?8 6,814 Agency and freelance 51aff 231.763 175,242 11.1 No employee received remuneration of more than £60,000 (2023- none). Jl. ? During the year th¢ compally paid £10.317 (2023 - £6.814) to independent third p.11¢5 for the provision of staff. 11.3 The total amount of employee benefits received by key management persoJ]nel is £91,921 (2023 - £88,360). The company considers its key management personnel cornprise its Chief executive officer and SerAior olcerS. 16
WH1INGToN PARX COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 12.0 Stafflvuinbers The average monthly head count was 14 staff (2023: 12 stsfD and the average monthly number of full-time equivalent employees (including casual and part titne staff) during the year was as follows: 2024 Number 2023 Number alief executive officer Senior officers Adtninistration staff Cleaning and n]aintenanee staff Service delivery stafT Icoordinator5. play workers, nursery Tjurse. catering staff, elc.) 13.0 Taxutinn Whittington Park Community Association is considered to pass the tests set out in Paragraph I, Schedule 6 of ih¢ Finance Act 201 Q and theTefore it meets the definition of a ¢haritable cotnpany for UK COTPOTation tax pury)oses. Accordingly, the charity is potentidlly exempt from taxation in respect of inLome or capital gains received within categories covered by Chapter 3, Part I l of the Corporation Tax Act 201 O or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extertt that suGh incomc orgaiiis are applied exclu&+ively to charitable purposes. 14.0 Tangible Fiyed Assets Fixtures, fittings & eguipiiient Cost At l April 2023 Additions during the year Disposals 22,391 3.118 At 31 March 2024 25,509 Depreciation At l April 2023 DepreLi8tion charge for the year 22,390 779 At 31 March 2024 23,169 Net Book Value At 31 March 2024 At l April 202.1 17
WHITTINGTON PARK COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2024 15.0 Debtors 2024 2023 Trade debtors Grants receivables and accrned income Prepayments Other debtors 469 925 5,305 1,845 801 2,652 242 24,055 8,876 16.0 Creditors.. Ainomnts Falling Due Within One Year 2024 2023 Creditors Taxation and social security Other creditors, Accruals 2,958 1,636 190,608 8,867 5,273 2,)2 46,305 9,014 204,069 62,594 16.1 Included in other cirditors is a pension liability of £1,450 (2023 - £823). J7.0 Analysis of Charitable Funds Unrestri¢led Funds - thirrent Yeor Balance l Apr 2023 Incoming Resou¢$ Outgoing Resources Transfer5 Balance 31 Mar 2024 General funds Designated ndS Halls rerbIShrnellt 117,970 105,697 (168,371) 55,296 24,478 (5,510) 18,968 142,448 105,697 (168.371) (5,510) 74,264 Unrestricted Funds- Previoiis Year Balance l Apr 2022 Incoming Resources Outgoing Resources TTan5fers Balance 31 Mar 2023 General funds Designated funds Halls refurbishment 108.166 62,774 (52.970) 117,970 50.000 (25,522) 24,478 158,166 62,774 (52,970) (25,522) 142,448 Name ofUnlrIL.Èedf1l11d Desc"ription, Fldltlre andpuryoses of Éliefynd General fijnds Designated funds The'free reserves" after allowing for any designated nds. Halls refurbisl]ment- towards the reftubisl)ment costs of tbe two halls. 18
WHirriNGTON PARK COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMEwfs (Continued) FOR THE YEAR ENDED 31 MARCH 2024 17.1 RL'stricte.d Furtdf- CuiTertt Year Balance I Apr 2023 Incoming Resources Outgoing Resources Transfers Balance 31 Mar ?024 London Borough of Islington Building Fund Octopus Cornrnunity Network Thc Nlltional Lottcry Comrnunity fund 19.256 l67.640 150.738 6,717 (164,610) (156,248) {6,717) 22,286 5.510 3,533 3,533 325,095 (327.575) 5,510 Resfricted Fvndts'_ Previou& Year Balance l Apr 2022 Incoming Resources Outgoing Resources TransfeT5 Balance 31 Mai 2023 London Borough of Islington Building Fund Octopus Comrnuniry Network The Natiollal Lottery Community Fund Sport Islington 23.155 79,822 190.920 252,350 18.622 (194.819) (357.694) {18,622) 19,256 25,522 3,533 3.533 2.500 (2,500) 106,510 464.392 (573,6351 25,522 22.789 Name ofrestricted fund Des¢riplion, Nalure andpurpobeb of ilie fund London Borough of Isliiigton Towards the following: Strategic Neighbourhood Partners Grants Programme. Chilthninder Group and geiieric Stay and play J lunch club, Youth Cliib, Nursery provision for over 2 years old and otber projects Fundraising for the building improvement5 renovations were undertaken durin the fillaucial year and Phas¢ One was completed by the beginning of 2024 with the buildin(rs offJ¢ially opened in April 2024 Octopus Community Network Tov4'ards the Stay Well, Livc Well project The National Lollery Community Fund To enhance off-site services for over 55 plus nol able io come to the Centre due Covid restrictions and to provide training to volunteers and Nursery slaff For provision of exercise classes for over 55.5 Building Fund Sport IslingloD 17.2 Th¥ n¢t transfer ot £5,510 (2023 - £25.522) from designated flUS to th¢ rLstriLtcd fijnds, Building Fund, represents additional fundin£ towards thc projecl as was the purpose of the designatcd fund. 19
WHITTINGTON PARX COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR TFtE YEAR ENDED 31 MARCH 2024 18.0 Analysis oflVetAssets Betweeii Funds- Current Year Restricted Fulld UDxestricled Fund Total Tangfible fixed assets Cagli at bank and in hand Other net current asseisl(liabilities) 1,035 2,340 277,757 (180,014) 277,757 (204,798) 24,784 25,819 74,264 100.083 Analysvs of Net As$Éts Between hinds- ProloNs Year Reslricted Fund Unrestricted Fund Total Tangible fixed assets Cash at bank and in hand Other net Current as8et&l(liabilities) 218,954 (76.507) 218,954 (53,718) 22,789 22.789 142,448 165.237 19.0 RÉLonulMtion ofNet InLome to Jvet Cash Flvw Frum Operalixg AL'ljiiities 2G24 2023 Net income for the year Adjustments for: Interest iDcome Depreciation charge (Increase)Idecrease in debtors Incrcasel(d¢cr¢as¢l in rr¢ditor (65,154) (99,439) (4,301) 779 (15,179) 141,475 (999) 3,363 32,264 57,620 (64,811) 19.1 Analysis of Change5 in Net Debt At l April 2023 Casb-floivs At 31 MarLh 2024 Cash at bat)k and in hand 218,954 f8,803 277,757 20.0 Related Party Transactions Aside from trustee rernuneration and expenses disclosed in note 10, there are no related party traDsactions during the year (202.3 - none). 20