## **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:**
- a. Promote the benefits of the inhabitants of Cannock and the neighbourhood without distinction of sex or political, religious or other opinions by association with local authorities, voluntary organisations and inhabitants in a common effort to advance education and to provide facilities in the interest of social welfare for recreation and leisure time occupations with the object of improving the conditions of life for the said inhabitants; and
- b. Use the premises and to maintain and manage or co-operate with any local statutory authority in the maintenance and management of the premises for activities promoted by the Association and its constituent bodies in furtherance of the above objects.
## **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:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of
- accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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:**
- a. Recognition of 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.
- b. Offsetting:
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).
- d. Volunteer help:
The value of any voluntary help received is not included in the accounts but is acknowledged in the trustees’ annual report.
- e. Income from Interest:
Income from interest generated from money held on deposit, is recorded in the accounts upon receipt.
- f. Settlement of Insurance claims:
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**
- b. Provisions for liabilities:
- A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
- c. Basic financial instruments:
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:**
- a. Tangible fixed assets for use by the charity are capitalised if they can be used for more than one year, and cost at least £ 500.
- b. Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
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**|
|---|---|
|||