ARENA COMMUNITY Charity No. 1115569 Company No. 05116407 Trustees, Report and Unaudited Accounts 31 Mar¢h 2024
ARENA COMMUNITY Contents Pages 2to5 Trustees, Annual Report Independent Examiner's Report ststement of Financial Activities Summary Income and Expenditure Account Balance Sheet 9tolO Statement of Cash flows li Notes to the Accounts Detailed Statement of Financlal Activitles 12to20 21to23 Page I
ARENA COMMUNITY Trustees Annual Report The trustees, who are also directors of the Charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity forthe year ended 31 March 2024. REFERENCE AND ADMINisfRATIVE DEfAILS Company No. 05116407 Charlty No. 1115569 Principal Offlce l Rutland Street Ilkeston Derbyshire DE7 8DG Registered Office Arena Church Ilkeston Rutland Street DE7 8DG Directors and Trustees The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: A. Butcher LJ, HARRISON P.N. PYE A. SIMPSON R.W. TYE (Resigned 24 April 2024) Company Secretary H.M. Turner A¢UntantS AHBS Limited Naylor House Mundy Street ILKESTON Derbyshire DE7 8DH Bankers Natwest PIC 42 Bath Street Ilkeston Derbyshire Page 2
ARENACOMMUNITY Trustee5 Annual Report DE7 8HF So15¢itors Mr Ben Bourne Ellis Fermor & Negus 2 Devonshire Avenue Beeston Nottingham NG9 IBS OBJECTIVES AND AcfiviTIES To develop the capacity and skills of the members of the socially and economically disadvantaged communities around where they operate in Derbyshire and Nottinghamshire, in Such a way that they are better able to identify, and meet, their needs and to participate more fully In society. The purpose statement- to restore broken lives because everybody is somebody at Arena. The four focus areas:_ To feed and provide resource for the disadvantaged, To provide quality housin8, To train, educate and rehabilitate, To make the community liveable again. ACHIEVEMENTS AND PERFORMANCE We continue to see the world change at pace on a global level. This inevitably flows down to impact local communities and this would certainly be our story. The changes in our nation- economically, environmentally and socially all impact people and charitie5 like ours. This past year has been a necessary and intentional year of consolidation and streamlining. Our goal to help and serve our community continues to be our driver particularly as we engage with people and families who face severe pressure and hardship. This hardship then impact5 them in many other areas which includes housin& well being, family life and physical health. So it's been important as a charity to cut costs where p055ible, streamline operationally so that we fulfill the true vision to practically serve people. The limited Staff team has been once again incredible in helping us serve IQOO'S of people this year, Our volunteer team continues to grow and be strengthened and they show us how important they are if we are to funrtion effectively. The management and trustee team5 work with passion and diligence to create the necessary financial and operational strurture5 to effectively function as a modern charity. A5 a charity we look forward and we do so with optimism. Whilst the world continues with a myriad of challenges, we as a charity are now even better positioned to face the nextfew year5 with a strong team, robust systems, a greater clarity and a confidence as we march forward with our Mission is'to prartically love and serve our world". Page 3
ARENA COMMLINrrY Trustees Annual Report CHRISTMAS There were many needs as always and we continue to serve our community with hampers, selection boxes to local schools, toys to children in rbeed and practice ways of help where possible. We ran kids activities durlng holiday times and Easter eggs were also given away to schools in the area. FOODBANK/FOODCLUB It has been another busy year with Communlty Outreach in Ilkeston. Food Bank and Food Club continues to serve many on a weekly basis who are in need. We have good connections with local organi5ations such as Social Services, Homestart and the local schools. Our Care of a Coffee numbers increased at our Community work in Mansfield. The Food Club also continues to grow and we have new members who are added on a weekly basis. SUPPORTED LIVING ACCOMMODATION Our support team consists of both paid staff and also a small volunteer team. The team ensures all tenants, needs are met, offering them support in any area needed and assisting them to progress and achieve their individual aims and ambitions. We also aim to offer sufficient help to those needing support in overcoming addiction. In addition we encourage them as they develop skills needed to get back into employment and establish themselves in their own home. RETAIL OPERATION Our two shops continue to operate and provide second hand clothing, furniture and some accessories at affordable prices for our community. The team of staff continues to work hard at both shops to maximise sales to produce a profit. FUNDING A team working togetherto apply for funding for various areas within Arena Community grew in this year. FINANCIAL REVIEW The attached financlal statements show the current state of the finances. The company had net incoming resources during the year of £466,8541£315,954 at 31 March 2023). It is the policy of the trustees to build up and maintain unrestricted reserves of £10,000. The Board of Trustees consider the current state of the company's finances to be sound. The aim is to have 2-3 months running costs avallable and the team are worklng towards putting firmer budgets in place, identify any areas where we can increase income realistlcally and also restrict non-essential spendlng in order that this'pot" can be built up. The company's revenue general fund balance is a balance of (£103,677}1{£74,8041 at 31 March 2023>. The reserves policy has not been met during the financial year, but we are taking steps to address this. PLANS FOR FUTURE PERIODS Page 4
ARENACOMMUNITY Trustees Annual Report To continue to focus on increasing sales at both shops to ensure profitability and ongoing viability of the shops. To considerthe possibility of accommodation at the Leeming Street Building which could increase our work with providing supported living accommodation. Funding- to increase the team members and thus increase applications for funding and assist wlth the community running cost5. To increase our Community influence at all Campuses. STRucfuRE. GOVERNANCE AND MANAGEMENT The organisation is a charitable company limited by guarantee, not having a share capital and having obtained exemption under Section 60 of the Companies Act 2Q06 to dispense with the word limited as part of the company name. The company was incorporated on 29 April 2004 and registered a5 a charity on 25 Julv 2006. The company was established under a Memorandum of Association, which established the objectives and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound Upi members are required to contribute an amount not exedIng £1. The directors of the company are also charity trustees for the purpose of Charity Law and underthe company's Articles are known as members of the management committee. Under the requirements of the Memorandum and Articles of Association, the members of the management committee are elected to serve for a period of three years, after which they must be re-elected at the next Annual General Meeting. Arena Community has a board of five trustees. They meet on a regular basis to review current issues and at these meetings decisions concerning the running of the charity are made. A full record of all meetings is kept. The Memorandum of Articles sets out the remuneratlon of trustees. The Trustees are responslble for keeping proper accounting records that disclose with reasonable accuracy at any time the financial positlon of the charity and to enable them to ensure that the financlal ststements comply with the Companies Act 2006. The Trustees are also responslble for safeguarding the a55ets of the charity and hence taking reasonable steps forthe prevention and detection of fraud and other irregularitie5. The trustees have examined the major strategic, business and operational risks which the charity fa5 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. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as Set out in Part 15 of the Companies Art 2006 and in accordance with the Charities SORP IFRS 1021. Signed on behalf of the board A. SIMPSON Trustee 12 December 2024 Page 5
ARENACOMMUNITY Independent Examlners Report Independent Examiner's Report to the trustees of ARENA COMMUNITY I report to the charity trustees on my examination of the financlal statements of ARENA COMMUNITY for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the company {and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act. Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 {*he 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515) (bl of the 2011 Att. Independent examlner's ststement As the charity's 8ross income exceeded £250,000 your examlner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examinatlon because l am a member of CPAA, which is one of the listed bodies. I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in accordance with section 386 of the 2006 Act , or the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair, view which is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the Methods and principles of the ststement of Recommended Prartice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Stand3rd applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come acr055 no other matters in connertion with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. S.Robinson FCPA CPAA AHBS Limited Naylor House Mundy Street ILKESTON Derbyshire DE7 8DH 12 December 2024 Page 6
ARENACOMMUNITY Statement of Financlal Activities for the year ended 31 March 2024 Unrestricted funds 2024 Restricted funds Total fund5 Total funds 2024 2024 2023 Notes Income and endawments from: Donations and legacies Charitable activities Other 176,037 233,807 57,009 176,037 233,807 57,009 40,029 231.559 44.366 Total 466,853 466,853 315,954 Expenditure on: Charitable activities Other 17,638 486,450 475 18,113 486,450 9,563 361,285 Total 504,088 475 504,563 370,848 Net gains on investments Net expendlture Transfers between fund5 Net expendlture before other gains/{losses) (37,2351 8,362 (4751 (8,3621 137,7101 154,894) (28,873} (8,837) {37,7101 154,894) Other galns and losses Net movement in funds 128,873) 18,8371 {37.710} (54,8941 Reconciliation of funds: Total funds brought forward 147,643) 11,772 135,871) 19,023 Total funds carried forward 176,516) 2,935 173,581) 135,871 Page 7
ARENA COMMUNITY Summary Income and Expenditure Account for the year ended 31 March 2024 2024 2023 Income 466,853 315,954 Gross income for the year 466,853 315,954 Expenditure 456,144 335.176 Interest payable 11,675 9,199 Depreciation and charges for impairment of fixed assets 36,744 26,473 Total expenditure for the year Net expenditure before tax for the year 504,563 370,848 137,710) {54,894} Net expenditure for the year 137,710) {54,894) Page 8
ARENA COMMUNITY Balance Sheet at 31 Marth 2024 05116407 Company No. Notes 2024 2023 Flxed assets Tangible assets Investments 11 12 262,552 295,S39 262,552 295,539 Current assets Debtors Cash at bank and in hand 13 27,400 3,422 30,822 {30,3471 475 109,240 10,677 119,917 {27,5091 92,408 387,947 1423,818) (35,8711 Creditors: Amount falling due wlthin one year Net current assets 14 Total assets less current liabllltles Creditors: Amount5 falling due after more than one year Net Ilabilities excluding penslon asset or Ilability Total net Ilabilities 263,027 (336,6081 {73,5811 (73,5811 15 {35,8711 The funds of the charity Restricted funds Restricted income funds 16 2,935 2,935 11,772 11,772 Unrestrfcted funds General funds Designated funds 16 1103,6771 27,161 {74,804) 27,161 (76,5161 {47,6431 Reserves 16 Totsl funds {73,5811 {35,8711 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Att 2006 relating to small companies. Forthe year ended 31 March 2024 the company was entitled to exemption under section 477 of the Companies Art 2006 relating to 5rn?11 companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Art 2006. The dirertors acknowledge their re5pon5ibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved bythe board on 12 December 2024 And signed on its behalf by: A. SIMPSON Trustee 12 December 2024 Page 9
ARENA COMMUNITY Statement of Cash flow5 for the year ended 31 March 2024 2024 2023 Cash Ilows from operating artivities Net expenditure per Statement of Flnancial Activltles (37,710} {54,894) Adjustments for: Depreciation of property, plant and equlpment Dividends, interest and rents from investments Decrease/(Increase) in trade and other receivables Decrease in trade and other payables 36,744 {57.0091 81,840 {82,9071 26,473 144,366) {8,587) {3.817) Net cash used in operating artlvities {59,0421 185,191) Cash flows from investing artivltles Payments for property, plant and equipment Dividends, interest and rents from investments 13,7571 57,009 44,366 Net cash from investing activitles 53,252 44,366 Cash flows from financing acthilties Repayment of borrowings 12,157) 12,881) Net cash (used in}/from flnancing activities 12,157) 13,119 Net decrease in cash and cash equivalents 17,947) (27,706) Cash and cash equivalents at the beglnning of the year 10,291 38,642 Cash and cash equivalents at the end of the year 2,344 10,936 Components of cash and cash equivalents Cash and bank balances Bank overdrafts 3,422 11,078) 10,677 (386) 2,344 10,291 Page 10
ARENACOMMUNITY Notes to the Accounts for the year ended 31 March 2024 l Atcounting pollcles Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland l FRS 1021 (effective I January 20151 (Charities SORP IFRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. Change in basis of accounting or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting} since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted funds These are available for use at the discretion of the trustee5 In furtherance of the general objects of the charity. These are unrestricted fund5 earmarked by the trustees for particular purposes. These are unrestrlcted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrictions Imposed by the donor orthrough term5 of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Financial Attivities ISOFAI when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the Income and related expenditure is expenditure reported gross in the SOFA. Donations and legacie5 Voluntary income received by way of grant5, donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Incame from tax reclaims is included in the SOFA at the same time as the donations and gifts gift/donation to which it relate5. Donated services These ale only included in income (with an equivalent amount in expenditure) and facilitie5 where the benefitto the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This 15 included in the accounts when receivable. Gains/llossesl on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/{lossesl on investment assets This includes any gain or loss on the sale of investments. Page 11
ARENA COMMUNITY Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes anyVAT whlch cannot be fully recovered, and is reported as part of the expenditure to whlch it relates. Expenditure on These comprise the costs associated with attratting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprlse the costs incurred by the Charity in the delivery of Its attlvities and charltable activities services In the furtherance of its objects, Including the making of grants and governance costs. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meetlng the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strateglc management of the Charlty, together with a share of other administration costs. These are support costs not allocated to a partlcular activlty. Grants payable Governance costs Other expenditure Taxation The charity is exempt from corporation tax on its charitable activities. Tangible fixed assets and depreclatlon Depreciation 15 provided at the following annual rates in order to write off each asset over its estimated useful life: Plant and Office Equipment 20%% reducing balance Fixtures and Fittings 20%% reducing balance Motor Vehicle 25%% of cost No depreciation is charged on land and buildings as the residual value is believed to be higher than historical cost. Freehold Investment property Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All galns or losses are taken to the Statement of Flnancial Activities as they arise. Stock5 Stock is included at the lower of cost or net realisable value. Donated item5 of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtor5 Trade and other debtors are recognised at the Settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of anytrade discounts due. Page 12
ARENACOMMUNITY Notes to the Accounts Cash and cash equlvalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdraft5. In the statement of financial position, bank overdrafts are shown within borrowing5 or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other credltors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Research and development Expenditure on research and development is written off in the year in which it 15 incurred. Foreign currencles Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing atthe end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded atthe rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net in¢ome/expenditure. Leased assets Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownershlp of an asset, the lease is treated as a finance lease. Leases whlch do not transfer substantially all the risks and rewards of ownershlp to charlty are classified as operating leases. Assets held under flnance leases are initially recognised as assets of the charity at their fair value at the Inception of the lease or, if lower, at the present value of the rninlmum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a flnance lease obllgatlon. Lease payrrents are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Flnance expenses are recognised immediately, unless they are dlrectly attributable to qualifying assets, in wh5ch case they are capitallsed in accordance with the charlty's policy on borrowing costs. Assets held under finance leases are depreciated In the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. Pension costs The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations, The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered fund5. Page 13
ARENA COMMUNITY Notes to the Arxounts Recelpt of donated goods, facilltles and servlces All donated good5, facilitie5 and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. 2 Company status The company is a private company lirnited by guarantee and consequently doe5 not have share capital. 3 Statement of Flnanclal Actlvltles - prior year Unrestricted funds Restrlcted *unds Total funds 2023 2023 2023 Income and endowments from: Donations and legacies Charitable activities Other 30,229 231,559 44,366 9,800 40,029 231,559 44,366 Total 306,154 9,800 315,954 Expendlture on: Charitable activities 365,183 5,665 370,848 Total 365,183 5,665 370,848 Net income (59,0291 4,135 154,8941 Net income before other gains/(losses) Other gains and losses.. Net movement in funds {59,0291 4,135 154,894) {59,0291 4.135 {54,894) Reconclllatlon of funds: Total funds brought forward Total funds carrled forward 11,386 7,637 19,023 (47,6431 11,772 (35,871) Page 14
ARENA COMMUNITY Notes to the Accounts 4 Income from donatlons and le8acie5 Unrestrlrted Total Total 2024 2023 Gift5 from Arena Church Donations & General Gifts 1000 Club 144,881 28,451 2,705 176,037 144,881 28,451 2,705 176,037 9,428 28,006 2,595 40,029 Donated goods. facilities and servlces received Total 2024 Total 2023 Gifts from Arena Church Donations & General Gifts 1000 Club 7,902 28,006 2,595 38,503 28,451 2,705 31,156 5 Income from charltable actlvlties Unrestrlcted Total Total 2024 2023 Community Projects Housing Benefit Grants 107,334 126,473 107,334 126,473 122,907 100,652 8,000 231,559 233,807 233,807 6 Other income Unrestrlrted Total Total 2024 2023 Other income 57,009 57,009 57,009 57,009 44,366 44,366 7 Expenditure on charitable activities Unrestrlcted Restricted Total Total 2024 2023 Expenditure on choritoble activities Community Projects Governance costs 17,638 475 18,113 9,563 17,638 475 18,113 9,563 Page 15
ARENACOMMUNITY Note5 to the Accounts 8 Other expendlture Unrestricted Total Total 2024 2023 Bank loan and overdraft interest payable 11,675 11,675 9,199 Employee costs Motor and travel costs 131,924 4,557 155,588 131,924 4,557 155,588 132,860 4,494 124,215 Premises costs Amortisation, depreciation, Srnpairment, profivloss on disposal of fixed assets General administrative costs Legal and professional costs 36,744 36,744 26,473 108,001 37,961 486,450 108,001 37.961 486,450 26,364 37,680 361,285 9 Net expendlture before transfers 2024 2023 This 15 stated after charging: Depreciation of owned fixed a55ets 10 Staff costs 36,744 26,473 2024 2023 Salaries and wages Penslon costs 130,574 1,350 131,924 131,725 1,135 132,860 No employee received emoluments in excess of £60,000. 11 Tangible fixed assets Land and bulldlngs Plant and Office Equlpment Fixtures and Fittings Motor Vehicle Total Cost or valUation At l April 2023 Additions At 31 March 2024 Depreciation and Impairment At l Aprll 2023 Depreciation charge for the year At 31 March 2024 487,765 624 13,803 2,786 16,589 8,750 10,923 347 11,270 521.241 3,757 524,998 488.389 8,750 197.302 11,047 8,750 8,603 225,702 32,304 3,120 1,320 36,744 229.606 14,167 8,750 9,923 262,446 Net book values At 31 March 2024 At 31 March 2023 258,783 290,463 2,422 2,756 1,347 2,320 262,552 295,539 Page 16
ARENACOMMUNITY Notes to the Accounts 12 Investments Investment In Subsidiarles The company has the followin8 subsidiary undertakings: Capital and reseNes at Profit/(loss end of the ) for the relevant relevant Country of incorporation Class of (If not UK) shares held %a8eof shares held Name of company year year The Projert Ilkeston Limited England 13 Debtors Ordinary loo 183,8061 116,696) 2024 2023 Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 2,041 1,139 83,806 260 25,359 27,400 24,035 109,240 14 Credltors: amounts falling due within one year 2024 2023 Bank loans and overdrafts Trade creditors Other taxes and social security Accruals 1,078 19,388 458 386 17,898 1198) 9,423 27,509 9,423 30,347 The bank hold5 a flxed and floating charge over the property at Leeming Street, Mansfield dated 16 April 2013. 15 Creditors: amounts falling due after more than one year 2024 2023 Bank loans and overdraft5 Amounts owed to group undertakings 181,969 154,639 336,608 184,126 239,692 423,818 Liabilities repayable in more than five years afterthe balance sheet date Amount repayable by instalments 177,777 177,777 The bank holds a fixed and floating charge over the property at LeeminE Street, Mansfield dated 16 April 2013. Page 17
ARENA COMMUNITY Notes to the Aceounts 16 Movement in fvnds Incomlng resources Resources expended Gross transfers At31 March 2024 {includln8 At l Aprll other 2023 gainsllosses) Restricted funds: Restricted Income funds: Mansfield Food Club Feeding Britain Mansfield Housing Need5 Care 4 Coffee Flourish I,ooi 3,275 1,000 355 (4751 {526} (3,2751 (1,000) {355) 2,935 3,206 2,935 (3,206) Total 11,772 (475) {8,362) 2,935 Unrestrlcted funds: General funds 174,804) 466,853 (504,0881 8,362 (103,677) Deslgnated funds: Woolworths 27,161 27,161 rotal 27,161 27,161 Total funds 135,871) 466,853 (504,5631 173,581) Purposes and restrictions in relation to the funds: Restricted fund5: Mansfield Food Club Feeding Britain Mansfield Housing Needs Care 4 Coffee Help the needs of the community Regular funding for the provision of the Mansfield Food Club Supporting people in need in the Mansfield area Serving the needs of over 100 people each week who are lonely, homeless and vulnerable in Mansfield Cultivation of the community garden overseen by Wash Arts. Flourish Designated funds: Woolworths The asset ha5 been capitalised to be written off over 10 years 17 Analysls of net assets between funds Unrestricted funds Restricted funds Total Fixed assets Net current assets Creditors due in more than one year and provisions 262,552 {2,947) 262,552 475 3,422 (336,608) 1336,608) 177,0031 3,422 (73,581) Page 18
ARENACOMMUNITY Notes to the Accounts 18 Reconciliatlon of net debt At31 March 2024 At l April 2023 Cash flows Cash and cash equivalents 10,677 10,677 (7,2551 (7,2551 3,422 3,422 Bank loans (184,1261 (184.1261 2.157 2.157 1181,969) 1181,969) Net debt (173,4491 15,0981 1178,547) 19 Commitments Operatinq lease commitments Annual commitments under non-cancellable operating leases are as follows: 2024 2024 2023 Land and buildings 2023 Land and bulldings Other Other Operating leases with expiry date: Pension Commitments 2024 2023 The pension cost charge to the company amounted to: 1,350 1.135 Page 19
ARENACOMMUNITY Notes to the A¢¢ountS 20 Related party disclosures 2024 2023 Tnynsartions with related partles Name off related porty Arena Church Amount duefrom/(toJ the related party 1154,639) 1239,692) Name olrelt7ted porty Description of relationship between the parties Amount duefrom/(toJ the relL7ted party The Project Ilkeston Limited Ordinary Shareholder (38,5331 83,806 Name of related party Description of relotionship between the porties Description of tronsGction and generol omounts involved Amount duefrom/(to) the relatedporty Grace {GB) Ltd- Kristian Thorpe minister & trustee consultancy & expenses 14.174) Name of related party Description of relationship between the porties Description of tronsoction and general amount5 involved Amount duefrom/(to) the related party Controlling party Turner Consultants Ltd - Julie Turner person of significant control consultancy services (12,891) The company 15 limited by guarantee and ha5 no share capital; thus no single party controls the company. Page 20
ARENACOMMUNITY Detailed Statement of Flnancial Artivities for the year ended 31 March 2024 Unrestrlcte d funds 2024 Restrlrted funds 2024 Total funds Total funds 2024 2023 Income and endowments from: Donations and legacie5 Glfts from Arena Church Donations & General Gifts IOOO Club 144,881 28.451 2,705 176.037 144,881 28,451 2,705 176,037 9,428 28,006 2,595 40,029 Charitable activitles Communlty Projects Housing Benefit Grants 107,334 126.473 107,334 126,473 122,907 100,652 233.807 233,807 231,559 Other other Income 57,009 57,(M)9 57,009 57,009 44,366 44,366 Total Income and endowments 466,853 466,853 315,954 Expenditure on: Charitable activities Community Projects 17,638 17,638 475 475 18,113 18,113 9,563 9,563 Total of expenditure on charitable activities 17,638 475 18,113 9,563 other expenditure Bank loan and overdraft interest payable 11,675 11,675 9,199 11.675 11,675 9,199 Employee costs Salarieslwages Pension costs 130,574 1,350 131,924 130,574 1,350 131,924 131,725 1,135 132,860 Motor and travel costs Vehicles- General costs Vehicles - Fuel Vehicles - Insurance and licence5 Vehicles- Repalrs and maintenance Travel and subslstence 135 1,621 1,161 1,621 1,161 1,310 1,796 1,123 1,123 65 652 652 1,188 4,494 4,557 4,557 Premises costs Rent 60,330 60,330 63,105 Page 21
ARENACOMMUNITY Detailed Statement of Financial Activitles Rates Light, heat and power Premises cleaning Premises repairs and maintenance Other premises costs 12,136 40,551 3,744 12.136 40,551 3,744 13,361 27,279 3,954 34.469 34,469 12,881 4,358 155,588 4,358 155,588 3,635 124,215 General administrative costs, including depreciation and amortisation Depreciation of land and buildings Depreciation of Plant and Office Equipment Depreciation of Fixtures and Fittings Depreciation of Motor Vehicle Bad debts Bank charges General insurances Information and publication5 Postage and couriers Software, IT support and related costs 32,304 32.304 25,241 1,722 1.722 652 2.718 83,619 1,376 16,358 90 30 2,718 83,619 1,376 16,358 90 30 1,591 17,355 439 12 22 Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband 297 297 807 2,006 2,454 1,678 52,837 2,244 2.281 1,706 144,745 2,244 2,281 1,706 144,745 Legal and professional cost5 Auditllndependent examination fees Accountancy and bookkeeping Consultancy fees Other legal and professional costs 1,200 1,200 1,416 5,352 31,014 5,352 31,014 3,306 30,094 395 395 2,864 37,961 37,961 37,680 Total of expenditure of other costs Total expenditure Net gains on investments 486,450 486,450 361,285 504,088 475 504,563 370,848 Net expenditure Transfers between funds 137,235) 14751 137,7101 154,8941 8,362 18,3621 Net expenditure before other 8alns/(losses) 128.8731 (8,837) {37,710) (54,894 Page 22
ARENA COMMUNITY Detalled Statement of Flnancial Actlvlties Other Gain5 Net movement in funds {28,8731 (8,837) {37,7101 (54,894) Reconclllatlon of funds: Total funds brought forward {47,6431 11,772 (35.8711 19.023 Total funds carried tOard 176,5161 2,935 {73,581} {35,871) Pa8e 23