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← Avon Business & Leisure CIO

2024-12-31-accounts

Avon Business & Leisure CIO

Registered Charity Number 1114478

Financial Statements

For the Year Ended 31[st] December 2024

Avon Business & Leisure CIO

Index to the financial statements

Page
Charity Information 1
Report of the Trustees 2
Independent Examiners Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 - 12
Income and Expenditure Account
-
Community Centre		 Appendix 1

Avon Business & Leisure CIO

For the year ended 31[st] December 2024

Charity Information

Address Avon Road Cannock Staffordshire WS11 1LH Charity Number 1114478 Reporting Accountant Bradley Accountancy Practice Ltd 84-90 Market Street Hednesford Staffordshire WS12 1AG

Page 1

Avon Business & Leisure CIO

For the year ended 31[st] December 2024

REPORT OF THE TRUSTEES

The Financial Statements have been prepared for a 12 month period. Comparative figures for 2023 are stated for a 12 month period.

The trustees present their report along with the financial statements of the charity for the year ended 31[st] December 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 8 and comply with the charity’s constitution and applicable law.

OBJECTIVES AND ACTIVITIES:

Constitution and Objects

The organisation is a charity, incorporated on 23[rd] February 2006 as a Company limited by guarantee, and converted to a CIO in 2019. The objects and powers of the charity are laid down in the CIO Constitution adopted 26[th] May 2019.

The objects of the charity are:

Main Activities

The main functions of Avon Business & Leisure CIO are:

The management of the fully accessible Avon Business & Leisure CIO buildings and the provision of affordable accommodation for groups and individuals.

ACHIEVEMENT AND PERFORMANCE:

It has been a difficult year, fulfilling last years decision to replace all of the emergency lighting, together with having to deal with the impact of rising costs and the increase in living wage. There have been improvements to the building to increase safety, such as, fire protection upgrades to doors and ‘fire stopping’ rooms, together with improvements to the CCTV system to ensure the safety of all who use the facilities.

The Trustees are optimistic that the use of the facilities will continue to grown.

The Trustees would like to acknowledge and express gratitude to all staff, volunteers, committee members and all involved with the Charity for their support throughout the year.

FINANCIAL REVIEW:

The total net outgoing of Restricted income was £ 0, and total net loss of Unrestricted income was (£ 7,679). The Charity had £ 118,103 in unrestricted bank funds, and £ 0 on a short-term investment in unrestricted funds.

The Charity received no grant income during the accounting period. The income of the charity continues to be derived from the letting of the property

Page 2

Avon Business & Leisure CIO

For the year ended 31[st] December 2024

Report of the trustees (Continued)

Policy for determining level of reserves

The trustees goal is to retain unrestricted funds sufficient to cover 6 months running costs of the service to enable continuation of activities should the income cease and to provide for potential redundancy costs.

Level of Reserves

The charity has £ 84,152 in unrestricted and undesignated reserves at the period end. The goal would require these reserves to be £ 53,000 including redundancy costs.

Policy for investment of funds

The trustees place funds not immediately required into a high interest deposit account to achieve added income.

During the year the charity invested £ 20,000, this was withdrawn prior to the accounting year end.

STRUCTURE, GOVERNANCE AND MANAGEMENT:

The Charity is governed by a Trust Deed held by Staffordshire County Council.

The Charity is constituted as a CIO, whose constitution was adopted on 29[th] July 2019.

The Charity Trustees manage the affairs of the CIO.

The procedure for appointment and removal of Trustees is contained in the Charity CIO Constitution dated 16[th] May 2019.

Risk Management

The trustees have examined the major strategic business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

Staff and volunteers are provided with appropriate induction and training. Internal risks are minimised by the implementation of policies and procedures, which are reviewed regularly to make sure they meet the needs of the charity.

The Charity is GDPR compliant to current legislation.

In addition, the Charity has achieved a Five Star Environmental Award.

Health and Safety procedures are in compliance with current health and safety legislation and with the Regulatory Reform (Fire Safety) Order 2005 and risk assessments are carried out. Risks regarding funding are covered within the strategic plan.

The Charity continues to operate within current Covid 19 recommendations and best practice.

ADMINISTRATIVE DETAILS:

The Charity Avon Business and Leisure CIO is located on Avon Road, Cannock, Staffordshire.

Trustees in office at the Balance Sheet date are as follows:

Page 3

Avon Business & Leisure CIO

For the year ended 31[st] December 2024

Report of the trustees (Continued)

Trustees Mr L A Castellina - Chairperson
Mr David Corns - Vice Chairperson
Mrs A I Castellina
Mr G Williams - Company Secretary
Mr C Phillips
Mr D Pavier
Co-opted Trustees Mrs P Corn
Mrs B Denton
Mr D Meeks
Mr D Willetts
Mr C Brown

Statement

This report has been presented to the Trustees and agreed in general meeting by:

Signed:

Name: Mr L Castellina Trustee Date:

Page 4

Avon Business & Leisure CIO

For the year ended 31[st] December 2024

Independent Examiner’s Report to the Trustees of Avon Business and Leisure CIO

We report to the trustees on our examination of the accounts of the above charity for the year ended 31[st] December 2024.

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

We report in respect of our examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out our examination, we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination, which gives us cause to believe that in, any material respect:

We 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.

Signed:

Mr P Bradley Bradley Accountancy Practice Ltd 84-90A Market Street Hednesford Staffordshire WS12 1AG

Date:

Page 5

Avon Business & Leisure CIO

For the year ended 31[st] December 2024

Note
Ref.
STATEMENT OF FINANCIAL ACTIVITIES:
INCOMING RESOURCES
Grant Income
2
Investment Income
3
Trading Activities
4
RESOURCES EXPENDED
Direct Charitable Expenditure
5
Management and Administration of the Charity
6
Net Incoming Outgoing Resourses
Fund Balance b/f from 31/12/23
Fund Balances c/f to 01/01/25		 Unrestricted
Restricted
Total
31/12/2024
0
0
0
3,147
0
3,147
69,483
0
69,483
72,630
0
72,630
35,759
1,548
37,307
43,002
43,002
78,761
1,548
80,309
( 6,131)
( 1,548)
( 7,679)
134,853
18,307
145,025
128,722
16,759
137,346		 Total
31/12/2023
0
2,435
66,561
68,996
37,597
39,534
77,131
( 8,135)
153,160
145,025

Page 6

Avon Business & Leisure CIO

As at 31[st ] December 2024

BALANCE SHEET:

FIXED ASSETS
7
CURRENT ASSETS:
Short-term Deposit
8
Stock
9
Debtors
10
Cash in Bank and in hand
11
CURRENT LIABILITIES:
Amounts falling due within one year
12
NET CURRENT ASSETS:
TOTAL ASSETS:
FUNDS:
Restricted Income Funds:
13
Unrestricted Income Funds:
14
General Fund
Designated Funds - Fixed Assets		 £
£
19,056
0
0
3,087
118,103
121,190
2,900
118,290
137,346
18,307
84,152
34,887
119,039
137,346
Period Ending 31/12/24		 £
20,000
0
7,185
103,615
130,800
2,700
91,831
34,887
Year Ending		 £
16,925
31/12/23
128,100
145,025
18,307
126,718
145,025

Approved by the Management Committee on and signed on its behalf by:

Signed: Signed:
Name: Mr L Castellina Mr D Corns
Trustee Trustee
Date: Date:

The notes on pages 8 - 12 form part of the financial statements.

Page 7

Avon Business & Leisure CIO

For the year ended 31[st] December 2024

1. Accounting Policies Basis of Accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with:

The Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16[th] July 2014, and with, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and with, the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

Income:

Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the resource. It is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

c. Grants and Donations: Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).

The value of any voluntary help received is not included in the accounts but is acknowledged in the trustees’ annual report.

Income from interest generated from money held on deposit, is recorded in the accounts upon receipt.

Insurance claims are offset against their relevant expense headings as permitted by the FRS 102 SORP or FRS 102.

Detailed information regarding income is provided in the Notes to the Accounts 2, 3 and 4.

Expenditure and Liabilities:

a. Liability Recognition:

Liabilities are recognised where it is more likely than not that there is a legal or constrictive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Page 8

Avon Business & Leisure CIO

For the year ended 31[st] December 2024

The charity accounts for basic financial instruments on initial recognition as per paragraphs 10.7 FRS 102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS 102 SORP.

Detailed information regarding expenditure is provided in the Notes to the Accounts 5 and 6.

Asset:

Details of both tangible fixed assets and debtors are given in Note to the Accounts 7 and 10.

2. Grant Income

3.
Investment Income
Grant Income
CCDC - Covid Grant
JRS Grant
Investment Income
Bank Interest
Investment Income:
Short-term deposit		 Unrestricted
Restricted
Total
2024
0
0
0
0
0
0
0
0
0
Unrestricted
Restricted
Total
2024
1,388
1,388
1,759
1,759
3,147
0
3,147		 Total
2023
0
0
0
Total
2023
916
1,519
2,435

3. Investment Income

Page 9

Avon Business & Leisure CIO

For the year ended 31[st] December 2024

4. Trading Activities

Unrestricted Restricted Total Total
Trading Activities 2024 2023
Room Hirings 63,435 63,435 61,161
Own Classes Income 1,090 1,090 1,626
Rent Received from Bar 0 0 0
Sundry Income 4,957 4,957 3,774
Dog Agility Income 0 0 0
69,483 0 69,483 66,561
5.
Direct Charitable Expenditure
Direct Charitable Expenditure
Own Classes Expenses 546 546 861
Establishment Costs 31,992 31,992 33,045
Bad Debt 0 0 0
Depreciation 3,221 1,548 4,769 3,691
Bar Expenses 0 0 0
35,759 1,548 37,307 37,597
6.
Management & Administration of the Charity
Management and Administration of the Charity
Salaries and NIC 38,495 38,495 36,359
Accountancy Fees 2,850 2,850 2,600
Legal and Professional Fees 1,050 1,050 30
Office Costs 351 351 215
Other Expenses 256 256 330
43,002 0 43,002 39,534

5. Direct Charitable Expenditure

6. Management & Administration of the Charity

7. Tangible Fixed Assets Equipment, Fixtures and Fittings

Tangible Fixed Assets:
Cost at 31/12/23
Additions
Cost at 31/12/24
Depreciation at 31/12/23
Charge for the Year
Depreciation at 31/12/24
Net Book Value at 31/12/24		 Leasehold Costs
Equipment
Total
30,965
211,502
242,467
6,900
6,900
30,965
218,402
249,367
16,255
209,287
225,542
1,548
3,221
4,769
17,803
212,508
230,311
13,162
5,894
19,056

Page 10

Avon Business & Leisure CIO

For the year ended 31st December 2024

8. Investment

9.
Stock
10.
Debtors
11.
Cash In Hand and at Bank
12.
Liabilities: Amounts falling due within one year
Investment
Short term Investment - loan
Stock
Bar
Debtors
Trade Debtors
Prepayments
Cash In Hand
Virgin Bank Plc
Current Account
High Interest Account
Short -term Deposit
Cash In Hand
Liabilities: Amounts falling due within one year
Accruals
Tax & social security
Loan		 31/12/24
0
0
3,087
0
3,087
1,441
116,364
0
298
118,103
2,900
0
0
2,900		 31/12/23
20,000
0
4,687
2,498
7,185
1,345
101,968
7
295
103,615
2,700
0
0
2,700

13. Restricted Funds

Restricted Funds Analysis:
Staffordshire Foundation
Awards4All
Advice Centre		 Balance
Movement
Movement
Balance
31/12/23
Incoming
Outgoing
31/12/24
11,822
0
0
11,822
1,840
0
0
1,840
4,645
0
0
4,645
18,307
0
0
18,307

Page 11

Avon Business & Leisure CIO

For the year ended 31[st ] December 2024

14. Analysis of Net Assets between Funds

Analysis of Net Assets between Funds:
Restricted Funds:
Unrestricted Funds:
Designated
General Purpose		 Fixed Assets
Net Current
Net Assets
Assets
18,307
18,307
0
18,307
18,307
34,887
34,887
84,152
84,152
119,039
18,307
137,346

15. Fees for Examination of Accounts:

Independent Examination Fees:

Fees for the independent examination of the accounts 2,900

16. Paid Employees and Related Party Transactions:

Paid Employees:
Average number of employees during the period 5
Total staff costs - salaries and wages 38,495
2 Trustees were paid for duties as employees during the year 12,312
All employees were involved in charitable activites.

17. Capital commitments:

Capital Commitments:

There were no capital commitments unprovided for at the year end ( 2023 Nil).

Page 12

Avon Business & Leisure CIO

For the year ended 31stDecember 2024
Appendix 1
RESTRICTED FUNDS
Awards4All:
Grant
Expenses Paid
Staffs CC:
Grant
Expenses Paid
Advice Centre:
Income
Expenses Paid
Depreciation - Restricted Funds
Net Income - Restricted
UNRESTRICTED FUNDS
Room Hiring
Rent received from Bar
Sundry Income
Government Grants
Bank and Investment Income
Own Classes:
Banbinos Partent & Toddler Group
Dog Agility Income
Own Classes Expenses paid
Net Income - Unrestricted
TOTAL NET INCOME
LESS EXPENSES:
Wages and National Insurance
Rates & Water
Use of Home as Office
Heating & Lighting
Telephone
Insurance
Repairs & Renewals
Printing Postage Stationery & Advertising
Cleaning
Performing Rights & Licences
Bad Debt
Accountancy Charges
Legal & Professional Charges
Sundry Trade Expenses
Depreciation
EXCESS INCOME OVER EXPENDITURE		 £
£
£
£
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
( 1,548)
( 1,548)
(1,548)
(1,548)
63,435
61,161
0
0
4,957
3,774
0
0
3,147
2,435
1,090
1,626
0
0
1,090
1,626
(546)
(861)
544
765
72,084
68,135
70,536
66,587
38,495
36,359
3,396
3,897
0
0
11,555
11,631
922
884
2,515
2,435
9,304
10,298
351
215
1,564
1,668
381
544
0
0
2,850
2,600
1,050
30
2,610
2,018
3,221
2,143
78,215
74,722
( 7,679)
( 8,135)
31st December 2024
31st December 2023