Docusign Envelope ID.. 345C64674F6s44￿BC2&9Ac3EEA83S77 Company No.. 05676887 Charlty No: 1115084 THE GREGSON COMMUNITY ASSOCIATION LTD {A COMPANY LIMITED BY GUARANTEE) UNAUDITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 *A01827S8* 1811212024 COMPANIES HOUSE A35 #142 Oocuslgn Envelow10.' 345C84674F654494-BC2>9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD CONTENTS Pages Reference and administrative information Report of the Truslees Independent ex8mlnerfs report to the Trustees Slal8ment of financlal acllvities 10 Balance sheet 11-12 Notes lo the financlal slalemenls 13-26 l)ocu$ign Envelope ID.. 345C64674F654494-BC25-9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD REFERENCE AND ADMINISTRATIVE INFORMATION (Registered Company Number: 05676887 (En9land and Walesll ' {Registered Charlty Number.. 1115084) TrusteeslDirectors Emma Rucaslle Katherine Bevington Matthew Deighton Helen Jackson - Treasurer Jamie Murphy Anya Nanning Ramamurthy Claire Duff Ml¢hael Sumslon - Chalr Ka18 Aspinwall Emma Bainbridge Heike Hor5burgh Laurence Kaye Lewls Parklnson William Pye Jeremy Reay (r8signed 0910712023) lappoinled 3111212023) lappoinled 3111212023) (appointed 3111212023) (resigned 3111212023) (resigned 0910712023) (resigned 0910712023) (resigned 0910712023) Secrelary Emma Rucaslle Ms. K M 8evinglon {appoinled 0910712023) {resigned 0910712023) Regisl8red Office The Gregson Community As80cialion Limited 33 - 35 Moorgal8 Lancaster Lancashlre LA1 3PY Independ8nl Examiner Jack Steer ACA MHA 14 Mannin Way Lancaster Business Park Lancaster LA1 3SW Page 1 Docuslgn Envelope ID.. 345C64674F654494-BC2>9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their report and the financial statements of the Trust for the year ended 31 March 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reportlng by Charilies" (FRS 1021 in preparing the annual report and financial slalemenls of lh8 Trust. The financial slalements have been prepared in accordance with the accounting policies sel out in the notes lo the accounts and comply wilh the Trust's governing document, the Charities Act 2011 and Accounting and Reporting by Charities.. Slalemenl of Recommended Praclice applicable to charities preparing their accounts in accordance with Ihe Financial Reporting Standard for Smaller Enlilies applicable in the UK and Republic of Ireland published in October 2019. Introduction The Gregson Communlly Assoclallon (GCA) has been a remarkably successful grassroots arts and communlly organisalion for nearly forty years. Born out of cornmunily need and 8ndeavour. It has helped and Insplred many thousands of people over those years. The GCA was formed in 1983, Our charity operates wllh the followlng objectiV8'. "To promote and encourage discussion and participation in arts and community events, issues, aclivilies. arKI groups in order lo improve the quality of life for the whole community. To excite, engage, slimulale and fulfil. The Gr8gson CommunSty and Arts Centre (owned by the ¢h8rlly) ran successfully lor many decades wlth management companies runnin9 Ihe operatlons. In 2020 the Covid pandemlc preclpilaled the Insolvèncy of the then management company. At risk of closure. the GCA made the bold declsion lo'bring back, the Gregson into ils own hands snd rn8nag8 ils affairs dlreclly. This forms Ihe backdrop lo our activity. progress and success in 2023-24. Structure Governance and Managemont Governing Document Having adopted the Charily Code of Governance for smaller charllles Sn 2021-22. th15 year we bullt on our good progress in supporting thè application of the Code of Governance. Thls Included: Agreeing a maximum number of Iwelve trustees al any one liffle and r8cruiling dlv8rs8 new Iruslees followlng an open, public recruitment process. Supported by external advisor Alan Chapman, conducting a comprehensive review of policies and procedures, ensuring the charity is legally compliant and following besl practice in all areas of our WOTk, including essential work on Heallh and Safely, Safeguarding and ReseNes policies. Carrylng Out an away day. allowing Irustees and the CEO lo explore longer-term stralegic priorities for the harily. Adopllng a new slrat8glc plan 2024-27, Informed by a comprehenslv8 organlsallonal rlsk reglster. Developing a 'portfolio' approach for trusle8s, allowing trustees lo have a greal8r understanding of. and influence over, Ihe areas of HR, Safeguarding. Fundraising. Reserves and our Sub-Groups. In 2022-23 we became aware that Ihe success of the café bar was raislng issues In relation lo the GCA'S trading activity, with trading income significantly exceeding the 250/0 ceiling recommended by Ihe Charity Commission. In response, the charity formed a working group to look inlo this issue and look legal and financial advice. This year we completed the process of registering a wholly owned trading subsidiary, Gregson Trading Ltd. which became aclSve on 181 April 2024. All profits g8nerated by Ihe Iradlng company wlll be r8-Invesled back Into the charlly. Page 2 Oocusign Envelope10.. 345C64674F654494-BC25-gAC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2024 Objectlves and Activltles for Publlc Benefit In 2023-24 the growth of Ihe charity's oulput W8s rapld and insplrlng. The bulldlng was once agaln at tha centre of community life and was busier than ever. By the end of the year, we were hom8 to over 50 creative and community groups. Throughout the year we hosted many one-off events and ran an innovative creative community health programme. We worked hard to ensure our Community was in the driving seal of what happened at the centre and worked Ilrelessly lo welcome more peopl8 into the building. Publlc Beneflt The GCA continued lo contribute lo public benefit in carrying out its aclivilies, in order lo achieve ils charitable oblecllves. through., Running the Gregson Community & Arts Centre - the Indices of Deprivation score shows the centre is in Ihe 100/0 most deprlved areas nationally. The runnlrbg of the centre and ensuring11 remained a vital hub for our community was the core aclivlly of the charity. . Supporting three sub-groups ofour charilywho work lo make community life belter. The Friends of Miss Whalley's Field. maintain the 'Gregson's Garden,, a once disused sile which has been transformed into a wonderful urban green space. The Gregson Festival Group deliver community events and Highfield Recreation Ground provides sports facililles and an essenll81 outdoor community space. Misslon, Aims and Values Mlsslon, Aims and Values This year we reviewed our ambitions, adopting the following Vlsion, Mission and Aims.. Vlslon for 2027 Transform hlsloric bulldlng and spaces Into Insplrational contemporary ptaces Ihal enable our communlly to Ihrive Mlsslon: For people to be In the drlvlng seal of Ihelr community events and cultural experiences Alms: Secure the Gregson Community & Arts Centre for the next generation - ensuring il is a contemporary and ploneering building Addr8ss the climatè emergency, through creative and community activity and through Ihe choices wa make when refurbishing our historic building 8ecom8 financially robust so our communlly can remain in the drlving seat of our charlty Empower our community lo try out and suslain ideas Be a saf8 space for all in Lancaster that pursues diverslly, equity and inclusivlly in everylhing we do Values: We are friendly and make everyone feel welcome and supported We challenge oppression and preludice, and promote diverslly We are creative and find new ways of maklng voluntary and community action effecllve We are dynamic and work ￿th purpose lo get things done and to achieve lasting impact We are community focused and locally re18vant We are environmentally consclous Wa are Inclusive and accessible We support local emerging artistic talent and Ihe development of the Lancaster regions creative ecology Page 3 Do¢u$lgn Envelope10: 345C64674F6W94-BC25-9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD REPORT OF THE TRUSTEES (contlnuad) FOR THE YEAR ENDED 31 MARCH 2024 Achievement and performancé Respcndlng to our Communlty We continued lo play a range of roles.. venue, partner, facilitator. supporter, connector. and inspirer, supporting communities to achieve their ambitions. Maximising community use ofour three hireable spaces - the Hall. the Olive 8ar and the Cinema- was Core to our purpose. This helped peopl8 to fulfll their creative and personal polentlal and at th8 same time made a major contribution lo our running cosls. The more our spaces are used, the more we deliver our core purpose and also become financially stronger. Now over 50 community groups, charities and CIC'S call the Gregson home and use the cenlre as Ihelr base. Increased use by hirers generate¢J an Increase in annual income from £54,949 to £82,616. Supportlng local artlsls and creative organisatlons r8maln8d a prlorlly. Thls y8ar 28 new groups slart8d wSlh us on our Creative Support Programmè, providing a space to try out new ideas with the support of the Gregson team, including help with promotion and discounted room hire, This provided focussed help for creatives to make new ideas happ6n by minimising théir fin8ncial risks. Arts, Health, and Wellbeing: Targeted comrnunity and arts programming Our team also developed projects led by the GCA, often in collaboralion with other organisatlons. Highllghls for the year indude., Intergenerat8 working with young people lo create a light inslallatlon as Ihelr conlribullon lo the Light Up Lancaster festival. This prolect focused on Ihe cllmale emergency and young peoplé's vlews on the development of the Gregson Centre Continued lo host the Brealh of Fresh Air choir (singing for lung health) in partnership with Lancaster District CVS and Queen Square Medlcal Practice Belng a host venue for the Bay Heallh Fesllv81, welcomlng 250 people inlo the building Being a key venue for the Lancasler Music Festival Becoming a recognised ¢8ntre for LGBTQ+ and Queer communities, including hosting meetings and events wSlh (amongst others) Queer 8y Gum, Queer 8ools and Lancasler Unlversily Dr8g and Cabaret Socielles Allracling over 40 sludenl soclelles lo slgn up lo our sludenl deal and making use of our spaces. Highlights includ8 hosting performances from the Thèatr8 Soclely and 8 wond8rful 'Takeover' of the whole buildlng by th8 Art Society, the centre Increaslngly bacomlng a space for our local community and sludants in our cily lo mix and mingle Building on the success of the Crealive Support Programme, Ihls year we launched a pilot pioje¢l callèd the Creative Heallh Support Programme (with funding from the Championing Creative Community Health Fund adminlslered by LDCVS). This en8bled 8 healthlwellbelng facllllalofs lo rLJn new activities in our space and is the subjecl of a sludy by Dr Rachael Easlham, a health researcher at Lancasler University. This work also informed the development of a longer-temi Arts, Health and Wellbeing slrdlegy over the ¢ourse of the year A very successful Young Promoter Pragramme supported by the Banks Lyon Memorlal Trust 8nd delivered in partnership with More Music, supportlng an early career would-be young music promoter and bringing young bands and audlen¢es into the ￿ntre Running the ' Belng W811, evenl In p8rtnershlp wlth H8alih Research 81 Lanc8sler Unlv8rslty. Thls day-long evenl èxplored creallve and non-clinical approaches lo community health and Ihe role places like the Gregson can play in Ihis Inllialives such as Glve and Take Days {supported by fundlng from Pots ol Possibility) lo promote a circular economy with our ¢ommunily Promoting the Gregson as a Warm Hub, wlth door-to-door leaflet drops targeled in statistically more deprived parts of our community. We offered free hot drinks and a warm space for anyone Ihat needed il anyllme over winter and were able to host Green Rose CIC lo deliver 4 fr88 energy saving workshops for the community Page 4 Docuslgn Envelope 10.. 345C64674F654494-8C25-9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2024 Achlevement and performanc8 (continued) Arts, Health, and Wellbelng: Targeted community and arts programrnlng Icontlnued) We ran a number of projects celebrating the 40th anniversary of the charity, culminating in a wonderful open day {which in Itself attracted many new visitors) welcoming people who have contributed so muGh over the years. Our local MP Cal Smith marked the anniversary by presenting the Board with an Early Day Molion that was passed in the Houses of Parliament lo acknowledge the work that has happened al Ihe Gregson over the last four decades. Volunteerlng Volunt&ers w8r6 integral lo Ihe Gregson's success this year. They helped support the cosl-èffeclive running of the centre and also, irnport8nlly, benefllled as Communlly members Ih8mselve5, acc8ssing rewarding exp8rl8nces and opportunities. We successfully strove lo make the relatlonship between organisation and volunteers balanced and mutually beneficial. Havlng previously allracted a £10,000 grant from the Nallonal Lollery Community Fund lor a part-llme, temporary Volunteer Co-ordinator, this year we built this role into the 'core' staff team, allo￿ng us lo further develop our work with volunteers. As a result, we allracled an increased number and diver51ty of volunteers during the year.. of the 100+ volunt88is al March 2024, 37 had been recruited during the finan¢ial year. In 2023-24 our volunteers had a malor Impact across Ihe organisallon, In a ranga ofway8'. We recruited to some specific roles where we needed particular skills, including for ex8mple Minute Secrelarles, a 'Web Wrangler, (doing brilliant work helping lo keep our website up lo dale), a Soclal Media volun18er, a gr8phic design volunteer and a Governance Adviser Several new volunteers recrulled during Ihe period went on lo propose new groups and activities, in affect developing our programme and creating their own volunteer role. for example Craft and Cha and the Charily aulz Givlng enormou8 capacity lo the Gregson, both wilh regular roles (In the Yarden, our Exhlbltions Asslslanl, Bar Volunteers, Admin roles, our handyman, elc) and also with on6 off 8venls RunnSng 5 Do Up days Ipsinling the building. clearinglorganising), 3 Give & Take Days, and numerous gigs and events supported by volunl8ers on the door. Café Bar The Gregson Is home lo L8nc8s1er's only community run ¢afé.11 Is al Ihe he8rt ofthe Gregson for many people and is crlllcal lo delivering 8galnsl our ambition to be wami, welcoming, and incluslve. a meeting point of people, ages, ideas and cultures. 11 also plays an Important Income generation role. The bar and café functioned in three keys ways.. as a great place lo socialise as an introduclionlgateway lo the range of community activities which happen at the Gregson as '8dded value, for p8rticipanls - a place to SOCi81ise before and after taking part, During the year we were successful in ensuring prices were kept compelilivel8ffordable. In only the Ihird fsnancial year in which the bar has been open since COVID-enforced closure, takings rose from £227.637 in 2022-23 to £333,027 in 2023-24. The cafe bar also became home lo many community groups and cultural events. This year we welcomed a wide range of new and contlnulng activities including Lancaster Zine Library,. Mindful Sewing,. Family Quiz,. Board Games Club; Knllling & Crochet Nlght: Felllng Classes,. varlous regular muslc sessions. Page 5 Docusign Envelope ID". 345C64674F654494-8C25-9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDEO 31 MARCH 2024 HR The GCA is commilled lo becoming an excellent and effecllve employer for both paid staff and volunteers. Building on the progress of th8 previous year, in 2023-24 we were able lo deliver against this commitment in a range of ways, including.. appointing a new trustee wilh significant professional HR expertise and experience, who has since become Ihe board HR Portfolio-holder reviewing and updating key ernploymenl policies and procedur8S formlng a Remunerallon and 88nefits Commilte8 to establish prlnciples and procedure5 for considering staff wages and 18rms and conditions The core staff team dld not change In the year. The charlty continued lo employ a FT CEO, FT Bar Manager. Community Marketing Offlcer (0.6 FTEI, Volunteer Coordinator (0.3 FTE}, and Finan¢e Administrator (0.6 FTE) as W811 as a numbar of part time staff in our caf& bar and as cleanérs. Our Members Growing the number of Mèmbers Is crlll¢al in order lo incréase interest and communlly involvement, helping lo pul our communlly al the heart of our Ihlnklno. Membership income also offers unrestricted Ilnancial support for the charily. For many years the cost of membership had been £151£10 unwaged. This year we changed this. making membership fr88 and al the same tim8 encouraging those who wished and were ab18 to become financial Supporters of the charlly. Thls change was well recelved and. encouragingly, resulted in an incr6ase in members from 133 10 292 wilhln the year and a doubllng of subscrlpiions In¢om8, from £1,675 to £3,495. Flnanclal revlew This has been 8nolher year of rapid growth for the charity as planned following Ihe change in our business model and the ch8rily taking over the direct running of the Gregson Community and Arts Cenlre. The impact of our inveslmenls are evident in this year's turnover of £498,047, increasing from £340,446 in 2022.2023. We remained focused on developlng suslalnable income streams for the charity from earned income to ensure the long term susl8inabilily of the organisalion. Income from the Cafe Bar rosè from £227,637 in 2022-202310 £333,027. Room Hlre Income also Increased from £53,949 In 2022-2023 10 £82,616. Thls year we faced challenges as the custodians of a large Victorian building and operating within 8 COSt"of livlng crlsls. Illustralively our eleclricily bills were eight times higher than originally anticipated. The centre itself also creaked under Ihe slr8Sn of Incre8sed use and needed ongolng repalrs. We have our generous communlty lo thank as they helped us ralse over £20,000 in donalions this year, responding to the call for support lo help wilh Ihese ongolng costs. The successful fundraising campaign saw the community run fundraising gigs. Quizzes, Dance-a- thons, communlty meals, donate Items lo our ch8ri1y auction and morel Grants received enabled us lo mainlaln and expand the creative cullural and community activity lisled above. During anolh8r year of growih foT the charity, the Board effeclively managed financial risk. Financial managemenl has and will r8maln a prlorily for th8 8oard who wlll conllnue lo examlne Man8gemenl Accounts at Board meellngs every slx weeks. We ended the year generating a surplus of £21,990 {2023'. £11,674) with free unreslricled resetV68 in surplus of £30,59212023.' deficit of £7,325). Free reserves are unreslrlcled resernes less Ilxed assets. The free reseNes can be adjusted for long lerm creditors of £27,96912023'. £37,984) resulting in adjusted free unrestricted resetves of £58,561 {2023.' £30,659). The board commilled lo adopting a new reserves policy early in 2024-25. Page 6 t)ocusign Envelope ID.. 345C64674F654494.8C25-9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2024 Flnancial review {contlnued) Followlng m8mbers' approval at last yearfs AGM, the Board laid the groundwork to form a wholly owned trading subsidiary of Ihe GCA- Gregson Trading Limited. This company will become active on 1st April 2024 and operate the cafelbar trading activities and. al some future date, potentially other trading activities in line with our overall ethos. All profits will be donated back lo the GCA. Gregson Trading Limited will significantly impact the 2024-2025 annual aGcounls as only Cafe Bar surplus. rather than lolal income and expenditure, will be reported on withln the GCA'S accounts. The Bulldlng The growth in Ihe number and range of people using the centre this year, combined with becoming increasingly sècure financially. was very encouraging. We were also able lo carry out a number of (largely) cosmetic improvernenls to the building. However, we bec8me Increasingly concerned wlth the underlying condition and stale ol the building itself. also the negative envlronmental impact of oper81ing a poorly ventilatéd and insulated building. Whilst we were not able lo make major improvernents within the year, we were able lo prioritise this in our strategic planning. We have laken the decision lo place facilities improvements as one of our three key priorilies 2024-27. Feedback and Llstenlng lo our Communlty We priorilised Ilstening lo our community In a wlde range of ways wlth tru51ees receiving reports on feedback as a standing agenda Ilme 81 board meelings. Th15 year we also updated our Compllmenls and Complaints PolScy. Informally, we Èncouraged s18ff members and volunteers lo seek every opportunlty lo 181k and listen lo our community, and then be ¢onfidenl to pass on Ideaslfeedback lo managers and Iruslees. We received oveNh&lmSngly poslllve feedback Ihls year. Whilst Ihls Is subjective and Indlvidual, wè include here some represenlalive feedback: I wanled lo say how supported Ihe Gregson makes me feel.. Nothing is too much trouble, and ¢hey give Ihéir time fr8ely. You ar8 doing such a grealjob of making ihe Gregsan com8 81iv8 ¢gg8in, wllh new growth, and building on the exisllng slrong fOundat￿nS. A Irue Gommunily run centre. Best venue and hub in Lancasler- always feel welcom8 and alweys something different on lo gèt involved with Il's been wond8rful Io sè8 the reinv8nlbn of The Gregson Cantre & fabulous 10 $8e il remaln as a vibrant community asset. Page 7 tlocusign Enve￿)￿10.. 345C64674F654494-BC25.9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD REPORT OF THE TRUSTEES (Gontlnuedj FOR THE YEAR ENDED 31 MARCH 2024 Trustees. Responslbllitl¢s The Truste8s (who are also directors of The Gregson Community Association Limited for tha purposes of company law) are responsible for preparing the Trustees, Annual Report (including the Slrategic Report) and the financial st8temenls in accordance wlth applicable law and Uniled Kingdom Accounting standards {Uniled Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial slalémenls for each financial year, which glve a truè and fair vi6w of the slate of affairs of the charitable company and of the incoming resources and appllcation of resources, incfudlng the Income and expendSlure, of the charllable company for th81 period. In preparlng thesé financial slatemenls, the Trustees are Igquired lo- select sultable accounting policies and then apply Ihem conslstenlly. observe the methods and principles In the Charilies SORP 2019 {FRS 102). make ludgemenls and estimates that are reasonable and prudent. stale whether applicable UK Accounting Slandards have been followed, sublecl to any material departures disclosed and explained in Ihe financial stalemenls. prepare the financial slalements on the going concern basls unless il is Inappropriate lo presume thal the Tr(rst wlll contlnue In operallon. The Trustees are responsible lor keeping adequat8 accounllng records that disclose wlth reasonable accuracy at any Ilme the financial position of Ihe Trust and enable them lo ensure that the financlal slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonabl8 sleps for thè prevention and detecllon of fraud and other Irrègularlliès. By order f the Trustees M Sumsion Chalrperson Dale.. Ig. 12. 7oL4 Page 8 Oocuslgn Envelopo ID.. 345C64674F654494-BC2&9AC3EEA83S77 THE GREGSON COMMUNITY ASSOCIATION LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GREGSON COMMUNITY ASSOCIATION LIMITED I report lo the Trust Trustees on my examination of the accounts ofthe company for the year ended 31 March 2024 which are sel out on pages 10 to 26. Responsibilitles and basls of report As the chariiy Trustees of the company (and also ils diraclors for Ihe purposes of company law) you are responslble for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of Ihe company are not required lo be audited under Part 16 of the 2006 Act and are eliglble for independent examination, I report in respe¢l of my examinallon of your company's accounts as carri8d out under section 145 of the Charities Act 2011 I'lhe 2011 Acl'l. In carrying out my examination I have followed Ihe Directions given by the Charity Commission under section 145{51(b) of the 2011 Act. Independent examlnerfs statement Since the company's gross income exceeded £250,000 your examiner must be a member ofa body lisled In section 145 of the 2011 Acl. I confirm that l am qualified lo undertake the examination because l am a member of the Association of Chartered Certified Ac¢ountants, whlch is one of the listed bodies. I have compiet8d my examSnallon. I confirm thai no mallers have come lo my atlentlon In conne¢llon wllh the 8xamln81ion glving me cause lo believe th81 in any malerial respecl.. ac¢ounling records were not kept In respect of the ￿MpanY as required by seclion 386 of the 2006 Act: ot 2. the accounts do not accord with those records.. or 3. the accounts do not comply with the accounting requlremenls of section 396 01 the 2006 Act other Ihan any requirement that the accounts give a 'lrue and fair view. which is not a matter consldered as part of an independent examination: or 4. the accounts have nol been prepared In accordance with the methods and prlnclples ol the Slalement of Recommend8d Pracllce for accounting and reporting by charilles appllcable lo charlll8s preparlng Ihelr accounts In accordance wilh the Financial Reporting Standard applicable In the UK and Republ1¢ of Ireland (FRS 102). I have no concerns and have come across no other matters in connecllon with the examination lo which altentlon should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. J gtL£Y Jack Steor ACA MHA 14 Mannln Way Lancaster Business Park Lancasler LA13SW Date: December 16, 2024 Page g OocuswJn Envelope ID.. 345C64674F654494-BC25-9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD STATEMENT OF FINANCIAL ACTIVITIES (inGludlng InGome and Expendllure Account) FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restricted Total Total funds funds fund$ 2024 funds 2023 Incorne and endowments from., Donations, grants and legaci6S Charitable Actlmtes Hlghfield Recreation Projecl Room Hire Subscriptions Other tradlng 8CtIMtles In*stm6nts 32,468 40,916 73,384 53,984 1,335 82,616 3,495 337,211 1,335 82,616 3,495 337,211 1,091 54,949 1,675 228,640 107 Tota I 457,131 40,916 498.047 340.446 Expendlture on: Ralsing fijnds Charitable acliiitles 67,379 18,264 85,643 61,157 DimGt projecl costs Hlghfield Recreation Project Premises costs 1,105 3,308 6,347 348 696 26,295 27,400 3,308 8,947 348 696 15,140 5.670 32,625 211 149 2,600 Other Total 426,835 47,159 473,994 325,741 Net surplus or (deficit) before transfèrs 30,296 {6,243) 24,053 14,705 Transfer between funds 16,17 1,048 {1,048} Net mov8ment In funds before tax 31,344 17,291) 24,053 14,705 Tax payable (2,063) {2,063) (3,031) Nèt movement In funds 29,281 (7,291) 21,990 11.674 Reconclllatlon of funds.. Tolal funds brought fopward 378,503 28.094 406,597 394,923 Total funds carried forward 16.17 407.784 20.803 428.587 406.597 Page 10 Oocuslgn Envelow ID.. 345C64674F8544WBC25.9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Flxed Assets Intangible Assets Tangible assets 24,375 336.173 31,275 337,909 10 360,548 369,184 Current assets Stocks Debtors Cash at bank and in hand 9,212 27,432 93.937 10,924 12,443 82,764 11 130,581 106,131 Creditors: amounts falling due within one year 12 {34,573 {30,734) Net current a8sels Tota l Assets Less Current Llablllties 456,556 444,581 Creditors: amtJJnts falling due 0￿r one year 13 {27,9691 (37,984) Net assets 428.587 406,597 Funds: Unrestricted funds Designated ￿ndS Reslrlcted fvjnds 17 17 16 59,586 348.198 20,803 361,859 16,644 28,094 Total funds 428,587 406,597 The statemenl of financial activities also complies wSth the requiremenls for an income and expenditure account under the Companies Act 2006. The statement of financial activllies includes all racognlsed gains and10$s8s In the year. All of th8 above amounts relate lo continuing activities. The notes on pages 13 10 26 form part of these financial statements. Page 11 00cus￿￿ Envelope ID.. 345C64674F854494-8C25-gAC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD BALANCE SHEET (confinu8d) AS AT 31 MARCH 2024 For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relaling lo small comp8ni8S. Directors, responsibilities.. Thè members havg not requlred the company lo obtaln an audit of Ils accounts for the year In quesllon In accordance wilh section 476. The directors a¢knowledge (heir responsibilities for complying with Ihe requirements of the Acl with respecl lo ac¢ounling records and the preparation of accounts. These accounts have been prepared in accordance with the special provisions for small companies under Part 15 of th6 Companies Act 2006. Th8se accounts were approved by the dlrectors and authorlsèd lor Issue on behalf by.. Fand are signed on thelr M Sumsion ChaSrperson H Jackson Treasurer Company Regislratlon Number: 05676887 The notes on pages 13 10 26 form part of Ihese financial statements. Page 12 Oocusign Envelope10: 345C64674F654494-ac25-9AC3EEA83S77 THE GREGSON COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. Accountlng Pollcles The Gregson Community Association Llmllad is a company limited by guarantee In England and Wales. Basis of preparation The charity conslilutes a publlc benefit enlily as defined by FRS 102. The financial statements have b8en prepared in accordance with Accounling and Reporting by Charilies-. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 Issued in October 2019, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practl¢e as it applies from 1 January 2015. The Gregson Community Association Limited meets the deflnltion of a public benefit enlily under FRS 102. Assets and liabllities are initially recognised al hlsloTical cost or transaction value unl8ss olh6rwise slated in the r818V8nt 8ccounling policy note(s). The finan¢lal ststemenls are prepared in sterling. whlch is the functional currency of Ihe company. Monetary 8maunts in these fin8nci81 s181ements are rounded lo the nearest £. Income All incoming resources are included in the Slalemenl of Financial Activities (SOFA) when the charily is legally enlilled lo the income after any perfomian¢e condlllons have been m81. the amount can be measured reliably. and it is probable that the Income wlll be recelved, For donatlons lo be recognlsed the charity will have been notifi8d of th8 amounts and the settlement date in writlng. If there are conditions allached lo the donation and this requires a level of performance before enlillernenl can be obtained, then Income is deferred until those condS1ions are fully mel or the fulfilmenl of Ihose condllions is within the control of the charity, and It is probable that they will be fulfilled, Donated facilities and donalad professional services are recognised in income al their fair value when their economic benefit is probable, it can be measured reliably, and the charlly has control over the item. Falr valuè Is determined on the basis of the value of the gift lo the charlly. For example, the amount the charily would b8 willing lo pay in the open market for such facililles and SaNlces. A correspondlng amount Is recognised in expenditure. No amount Is included in the financial statements for volunteer Ilme in Ilne with the SORP IFRS 1021. Income from trading activities in¢ludes income earned from fundraislng events and Irading activities lo raise lunds for th8 charity, Income is received in exchange for supplying good3 and servic8s in order lo raise funds and is recognised when enlltlement has occurred. Interest on funds held on deposlt is induded when receivable and the amount can b8 measured reliably by Ihe charity., this is normally upon nolificalion of interest paid or payable by the Bank. Income from room hire is generated from Ihe hlre of the bullding's three available rooms al fixed rales. The rates are set slightly below the commercial value of the room lo allow the charity lo provide the spaces lo the communlly in linè wilh ils oblèclives. Going concern The Trustees have a reasonable expectation that the charity has adequate resources lo continue in operational exi51encè for a period of al least 12 months from the dale the accounts are approved. Thus. the Trustees continu6 lo adopt thé going concern basis of accounting in preparing the flnanci81 statements. Page 13 Docusign Envelope10.' 34SC64674F654494-8C2>9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. Ac¢ountlng Pollcles (contlnued) Fund accounting Unrestricled funds are funds which are available for use at the discretion of the Truslees In furtherance of the general objectives of the charity. Reslricted funds are funds which are lo be used in accordance wlth speclflc reslrlclions imposed by donors or which have been ralsed by the charity for particular purposes. Any overspends are mel by unreslricleij funds. Expendlturè All expenditure is accounted for on an accruals basls and has been classified under headings that aggregate all costs ralated lo the category. Expenditure is recognis8d where there Ss a legal or ¢onstrucliv8 obligalion lo make payments to third parties,11 Is probable Ihal the s8111gm8nl wlll be requlr8d, and the amount of the obligatlon can be measured reliably. Tangible Flxed Assets and Deprociatlon Tangible fixed assets are staled at cost less depreciation. Depreclalion is provided al rates calculated to write off the cost less esllmaled residual value of each ass81 over Ils expected useful Ilfe as follows.. Freehold Property Machlnery and Equlpmenl 20/0 straight line - residual value now reached. 25¥01330A reducing balance. Amortlsatlon AmortSsalion is calculated so as to wrlte off thè cost of the asset. less ils esllmate r8sldu81 valué, ovar thè uséful economic life ol that 8ssel' as follows.. Goodwill Website costs 10 years straight Ilne 5 years stralghl line stock Stock of m8leri8ls Is valued al the lower of cost and net reallsable value. after maklng due allowance for obsolele and slow-moving items. Debtors and accrued Income Oeblors are recognisÈd al the selllemènl amount dua after8ny trade discounts allowed. Prepayments are valued 8t the amount prepaid after taking account of any trade discounls due. Cash at bank and In hand Cast at bank and in hand includes cash and short term hlghly liquld investments wlth 8 short m81urily of three rnonths or less from the dale of acquisition or openin9 of the deposit or simllar account. Creditors and provlslons Creditors and provlsions are recognised where the charlly has a present obligallon resulting from 8 past event that will probably result in the Iransler of funds lo a third party and the amount due to sellle the obligation can be measured or ostirnaled rellably. Creditors and provislons are normally recognised at Ihelr seltlemenl amount after allowing for any trade discounts due. Pènslons The ¢harilable company operales a defined contrfbulion pension scheme, and the pension charge represents the amount payable by the charity in respeGI of Ihe year. The assets ofihe scheme are held separate from those of Ihe charitable company in indep8ndenlly administered funds. Government grant5 Government grants are recognised al the lair value of the assel received or receivable when ther81s reasonable assurance that the grant conditions will be met. and the grants wlll bè received. Page 14 Oocusign Envelope10.. 345C64674F654494-8C25-gAC3EÉA83577 THE GREGSON COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS {contlnued) FOR THE YEAR ENDED 31 MARCH 2024 Judgements and key sources of estimation uncertainty In the application of the Charity's accounting policies, the trustees are required lo make judgements, eslimales and assumptions about the carrying amounts of assets and liabilit16s Ihat are not readily apparent from other sources. The eslimales and associaled assumptions are based on historical experience and other faclors that are considered lo be relevant. Actu81 results may differ from ihese eslimales, The estimates and underlying assumptions ar8 reviewed on an ongoing basis. Revisions lo accounting estimates are recognlsed in the period in which the 05limale Is revised wherè the revislon affecls only that perlod, or In the period of the revlslon and future perlods where the revislon aff8cts both current and future periods. Key assumptions, Judgements and estlmates In the oplnlon of the Trustees, there hav8 been no slgnificant judgements made in the process of applylng the above accounting policies. There have been no key assumptions concerning fulure and other key sources of 8sllmalion uncertainly at the reporting dale that have a slgnilicant risk of causing a malerial adjustment to the carrying amounts of assets and li8bilili8S WithSn Ihe nexl financial year. 2. Nel Incomel expendlture 2024 2023 IDefi¢llll Surplus Is slated after charglng.. Depreciation Good￿11 8moritlsatlon Independent examination fees 1,736 6,900 4,068 2.405 6.9¢)0 3.424 3. Income from donationsj grants and legacles Tota I 2024 Total 2023 Grants Donations 43,358 30,026 47.854 6.130 73,384 53,984 Income from donations, grants and legacies was £73,384 (2023.. £53,984) of which £40,91612023.' £47,854) was attributable lo restricted and £32,468 (2023.. £6,130) was attributable lo unreslricled funds. Page 15 Oocusrgn Envelope ID.. 345C64674F654494-BC25-9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS (conlinued) FOR THE YEAR ENDED 31 MARCH 2024 4. Incom8 from charltable actlvltles Total 2024 Tolal 2023 Hlghfield Recreation Projecl Subscriptions Room Hire 1,335 3,495 82,616 1,091 1,675 54,949 Income from charitable income was £87,446 {2023'. £57,715) of whlch £nll12023'. '£nil) was allribulable lo reslricled and £87,446 {2023'. £57,715) was allributable lo unrestricl8d funds. S. Othor tradlng actlvltles 2024 2023 Bar income Artislic DeKelopmenl Income Other income 333,027 4.010 174 227,637 1.003 337.211 228.640 Income from other IradSng acllvities was £337,211 (2023.. £228,640) of whlch 811 Sncome was atlrlbutable lo unrestrlcled funds in Ihe current and Prior year. 6. Investmenl income Totsl 2024 Total 2023 Bank Interest reCeI￿bIe 107 Page 16 Do¢)Jsign Envelope ID.. 345C64674F654494_BC25-9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS (conllnuedl FOR THE YEAR ENDED 31 MARCH 2024 7. Total expendlture staff Costs (note 8) Support costs Total 2024 Current year Costs of ralsing fiJnds Expenditure of charitable act1￿lIeS 77.690 137.708 7,953 250,643 85,643 388,351 215,398 258,596 473.994 Staff costs (note 8> Support costs Total 2023 Prior year Costs of raising fijnds Expendllure of charitable aCti￿lIeS 47,721 79.408 13,436 185,178 61.157 264,584 127,127 198.614 325,741 Support costs are msde up as follows 2024 2023 Olrecl prolecl co818 Fundraising costs Bar expenses Fre8lancer5 Premises Costs Telephone and intemel Prinllng, postage and Stationery Sundries Software licenses Bank charges Bank Interest Accountancy & Go*mance Oepreclailon Amortlsation 21,993 7,953 153,383 17,092 6.943 102.263 12.610 32,625 1,467 918 6.862 643 1.024 3.237 3,62S 2,405 6,900 39,097 1,425 931 13,702 727 1,282 5,178 4,291 1,736 6,900 258,596 198,614 Of the £473,994 expenditure in 2024 {2023'. £325,741), £426,835 was charged to unreslricled funds {2023.' £298,371) and £47,159 to restricted funds (2023.. £27.370). Wllhin the total expenditure are governance costs of £4,291 (2023.. £3,625) which are included wllhln unrestricted expenses. Page 17 Docusign Envek)pe ID.. 345C64674F654494-8C25-9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS {contlnued) FOR THE YEAR ENOED 31 MARCH 2024 8. Wages and salaries 2024 2023 Employee cosls during the year Wages and salaries Social securfty costs Pension costs 202,334 7.606 5,458 121,863 2,982 2,282 215,398 127.127 The a￿rage numbér of employees during the year was as follows: 12 No employees re¢elved total employee benefits of more than £60,000. 9. Intangible assets Goodwlll Wabsltè Total Cost Al l April 2023 AddS1ions At 31 Mar¢h 2024 63,000 3,000 66,000 Amortlsatlon Al 1 Aprtl 2023 Charge for th8 year At 31 March 2024 34.125 6,3CK) 40,425 600 34,725 6,900 41,625 1.200 Not book value Al 31 March 2024 Al 31 March 2023 28,875 2.400 31,275 Page 18 Docusign Envelope ID.. 345C64674F654494-BC2&9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS (conlinuedl FOR THE YEAR ENDED 31 MARCH 2024 10. Tangible fixed assets Freehold Fixtures and Property Equlpment Total Cost At 1 April 2023 Additions Disposals Al 31 March 2024 402.133 56,884 459,017 402,133 459 017 Depre¢iation Al 1 April 2023 Charge for the year Disposals Al 31 March 2024 70,819 50,489 1,736 121,108 1,736 70,619 52,225 122.844 Net book valu8 At 31 March 2024 331 514 336 173 Al 31 March 2023 331,514 6,395 337 909 11. Debtors 2024 2023 Trade debtors Prepaymenls Accrued Income VAT 13,658 11,154 2,620 4,601 2.567 2.620 2.655 27,432 12.443 Accrued income the current and prior year r8lates Io gift ald nol yet received. Page 19 Docusign Etwelope ID.. 345C64674F654494-8C25-9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDEO 31 MARCH 2024 12. Credltors: amounts falling due wlthln one year 2024 2023 Bank loans and 0￿rdraft (see note 14) Trade creditors Taxation and social security Accruals Other Credltors 7,640 188 16,047 9,787 911 8,840 12,161 5,498 4,235 34,573 30,734 13. Creditors: amounts falling due over one year 2024 2023 Bank loans (see note 14) 27,969 37,984 The loan is secured by leg81 mortgage charge on 33 and 35 Moorgate, Lancaster. 14. Loans An analysls of Ihe malurily of loan$ Is given below.. 2024 2023 Amoun15 falllng due vllhin one year on demand.. Bank loans Amounts falllng belween one and Iwo years: Bank loans - 1 - 2 years Amounts falling between Iwo and years: Bank loans - 2 - 5 years 20,329 'Page 20 Doojsign Envelope 10.. 345C64674F6544W8C2>9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 15. Operating lease commltments Al the reporting end dale Ihe company had oulslanding commitments for future minimum leas8 payments under non-cancellabl6 operating leases as follows.. 2024 2023 Within one year Between Iwo and years 1,151 400 16. Restrlcted Funds Movement In r•8ourc•• e•lan Balance 1 Aprll 2023 Incomlnq Outgolng Tr•nsfèr• 31 MJreh 2024 8a￿¢9 Lyon M•m￿la1 Tnjsl Walnèy Extension Communily Fund LancBsler Communlly Dlslricl Volunlary SeThlce (Communlty Health Championsl Populallon H•allh In￿Stment FundlNHS Lanc8shlre and South Curnbrfa Inlegraled Care Boafd N*lon81 Loltery Community Fund Windows Furtd Weddlng Llcenso Fund Lancast8r Communily Olstrict Voluntary SeN¢e (Cthamplonlng Cra811￿ Communlly H•althl Lancaslgr Cily Councll . NalghboUrtKJod Communlty Prol•cl Fund Closlno Loops Pots ol Posslblllty Places kjr Peopl? Lancastèr Community Fund Lancasler Community Districi Voluntary S8Th4ce INam8k8rs) Lanc85ter lllttgr8ll¢￿ F￿nd 4494-BC2&9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS {continu8d) FOR THE YEAR ENDED 31 MARCH 2024 19. Capltal commitments There were no capital commitments at 31 March 2024 or 31 March 2023. 20. Contingent liabilities There were no contingent liabilities al 31 March 2024 or 31 March 2023 oth8r than a general obllgalion lo repay grants where the agreed seNices are nol ultimately provided. 21. Taxatlon As a charity, The Grégson Community Association Limited is exempt from lax on income and gains falling wllhin sections 472-474 01 the Corporation Tax Acl 2010, section 478-489 of the Corporation Tax Act 2010, or s256 of the Taxation of Chargeable Gains Act 1992 to the extent Ihal Ihese are applied lo its charitable objects, 22. Analys16 of Net Assets Betwean Funds Flxed assets Nel assets 2024 Current year std Designated General fijnds st 331,554 28,994 16,644 30,592 20,803 348,198 59,586 20,803 Total funds 360, 548 68,039 428,587 Fixed assels Net assets Prfor ye8r 2023 Unrestri Oeslgnaled General funds 16,644 <7,325) 28,094 16,644 361,859 28,094 369,184 Total funds 369.184 37,413 406,597 23. Related Partles There were no related party tr8nsactions in the current or previous year. In the year no expenses were reimbursed lo the Trustees (2023 - £Nil). Page 25 Doc¢Jslgn Envelope ID.. 345C64674F654494.BC2&9AC3EEA83577 THE GREGSON COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS (Gontinu+9d) FOR THE YEAR ENDED 31 MARCH 2024 24. Control No slnglé individual has had conlrol of the company in th8 currenl or prèvious year. 25. Company limitad by guarantee Every member guarantees. in the event of the charitable company being wound up whlie he, she or il remains a rnember or wllhln 12 months of he. she or il ceasing lo be a member, lo contribute £1 towards the cost of dlssolulion and the Ilabililies incurred by the charitable company while the contributor was a m6mber. Page 26