Registered number: 05971309 Charity number: 1117362
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION (A Company Limited by Guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charitable Company, its Trustees and | 1 |
| Advisers | |
| Trustees' Report | 2 - 7 |
| Independent Examiner's Report | 8 - 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Notes to the Financial Statements | 12 - 20 |
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 28 FEBRUARY 2025
| Trustees | L. Brockhurst, Chair |
|---|---|
| A. Brockhurst | |
| E. Doughty | |
| S. Robinson | |
| D. Warboys | |
| H. Collins | |
| Company registered number 05971309 Charity registered number 1117362 Registered office Great Ashby Community Centre Whitehorse Lane Great Ashby Stevenage Herts SG1 6NH Independent examiners Wilder Coe Ltd Chartered Accountants & Statutory Auditors 143-149 Fenchurch Street London EC3M 6BL Bankers CAF Bank 25 Kings Hill Avenue West Malling Kent ME19 4TA |
Page 1
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025
The Trustees present their annual report together with the financial statements of the Great Ashby Community Centre Management Association ('GACCMA') for the year 1 March 2024 to 28 February 2025. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charitable Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
The Board of Trustees are satisfied with the performance of the charitable Company during the year and the position at 28th February 2025 and consider that the charity is in a strong position to continue its activities during the company year, and that the charitable Company's assets are adequate to fulfil its obligations.
Structure, governance and management
a. Constitution
Great Ashby Community Centre Management Association is registered as a charitable Company limited by guarantee and was set up by a Memorandum and Articles of Association on 18 October 2006. The Company was awarded charitable status in December 2006. On 1st May 2007, we officially became lease holders, taking over responsibility from NHDC and began full operation.
The company's registered company number is 05971309, and it is also registered with the Charity Commission, charitable number 1117362.
b. Appointment of Directors
The charitable Company being limited by guarantee, there are no directors' interests in share capital.
Directors are appointed at the AGM; each year one-third of the directors must retire. The directors to retire are those that have been in office the longest. A retiring director shall be eligible for re-election. Any person may be co-opted to fill a casual vacancy or to add to the number of directors and shall retain office until the next Annual General Meeting, when they shall be eligible for re-election.
All of the directors of the charitable Company are also trustees of the charity, and their responsibilities include all of the responsibilities of directors under the Companies Act and of trustees under the Charities Act.
The Directors of the charitable Company have no interest in any contract with the charitable Company nor do they receive any remuneration for their service or personal expenses.
c. Organisational structure and decision making
The Trustees who served during the year were as follows:
-
L. Brockhurst (Chair)
-
A. Brockhurst
-
E. Doughty
-
S. Robinson
-
D. Warboys
-
J. Szulikowski (resigned 1 January 2025)
-
H. Collins (appointed 11 June 2025)
Page 2
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
Objectives and activities
a. Policies and objectives
The principal objectives of the charitable Company as set out in the governing document are:
-
To benefit the inhabitants of Great Ashby by providing multi-purpose facilities for recreational and leisure activities;
-
To engage with the local authorities, voluntary organisations and other bodies and organisations through the Community Centre for the benefit and further enhancement of the local community; and
-
To promote the welfare and interests of the Great Ashby community through the Centre and its communication channels.
The Trustees confirm that they have, in the administration of the charity, paid due regard to the public benefit guidance published by the Charity Commission under section 4 of the Charities Act 2011.
b. Summary of the main activities and performance of the charity in relation to its objectives
The Great Ashby Community Centre continues to be a successful and well sought after facility in the Stevenage area. Its revenue contributes to the overall running costs of the Centre. Although run as a not-for-profit organisation, we have to generate enough income to ensure sustainability of the Community Centre. We do have to pursue additional funds for specific needs as they arise and/or determine.
i. Fund Raising
It is still part of our current business plan to hold fundraising events that not only add value to community life but could also contribute to the running costs of the Community Centre. During the year, we held three community Book Swaps; free events where members of the Great Ashby community and further afield donate and collect books. We were able to raise funds through sales of refreshments and charged local bakers to hold a stall at each event.
ii. Communication
Online - The centre has a dedicated website which provides information on the centre to the community, including details of the facilities available and the clubs and classes that take place at the centre as well as information about our Book Swaps. The Community Centre has an active Facebook page.
iii. Facilities
The Centre continues to be an extremely popular choice for regular hirers and one off occasions.
A wide range of groups and activities use the centre on a regular basis including; A preschool (9 sessions per week), children's educational classes, children's music and dance classes, Girl Guiding (Brownies and Guides), a slimming club, a choir, the Women's Institute, a dog obedience class, Great Ashby Community Council, Great Ashby Community Church and sports and exercise classes and clubs.
c. Summary of main activities of the charity in relation to maintenance and improvement of its facilities
The main building is now over 20 years old (built in 2001, opened in 2003) and still in good repair. The extension built in 2012 (Hall 2, Chaplaincy, toilets and storage room) are also in good repair. We endeavour to keep the centre well maintained and managed.
Page 3
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
Objectives and activities (continued)
i. Maintenance
During the year we changed our cleaning company from The Good Cleaning Company to Alliance. The management committee works closely with the contractor to monitor performance and holds regular review meetings.
GACCMA keep the garden borders around the front of the building and the side and back gardens, which are covered in artificial grass, tidy during their periodic Trustee Days.
We periodically utilise the services of the Government Community Payback scheme to help maintain the centre including outside tasks such as painting railings and cutting back shrubs in the gardens. The individuals are fully supervised and risk assessments are carried out prior to work being completed. The work is carried out during the school holidays.
During the Summer 2024 holidays, Hall 2 and adjacent foyer, corridor and toilets were redecorated.
We continue to work closely with North Herts Council to resolve matters impacting the boiler and hot water systems. We document issues and include these in our monthly meeting minutes to demonstrate full transparency. Under the lease agreement they are responsible for maintaining them.
ii. Repairs and Alterations
Routine minor maintenance was carried out as needed.
With the main kitchen showing signs of wear and tear, we replaced the main kitchen. We included elements to the make the kitchen usable by wheelchair users, including a rise-and-fall sink unit and side opening oven. Installation took place in August 2024.
iii. Future plans to improve facilities
A full review of maintenance priorities and financial planning was completed in January 2025. From this the Trustees have agreed maintenance priorities for 2025 and 2026.
Having experienced issues with hirers not closing the external doors to Hall 3 properly, and therefore leaving the building unsecured, we decided that the best solution was to change them to fire doors. These were installed in March 2025.
A result of these new fire doors was that hirers were no longer able to open the doors for ventilation to this southfacing room on a warm day. We decided to have air conditioning installed for the comfort of our hirers prior to the hall being decorated. The air conditioning was installed in June 2025.
Hall 3 and the main entrance and foyer were due for painting in 2025 to maintain the requirement in our lease agreement with North Herts Council to redecorate at least every four years. This work, along with new flooring to both areas, was completed during August 2025.
The male and female toilets in the older part of the building are now over 20 years old. As well as showing definite signs of wear and tear, limescale is now starting to cause issues with some of the toilets’ functions. We are investigating the costs of replacing the toilets and hand wash basins in both areas. With a cost expected to be in the region of £50,000, we hope to be able to do this work in 2026.
d. Other activities - membership
GACCMA are members of North Herts Centre for Voluntary Service.
Page 4
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
Financial review
a. Reserves policy
We recognise that reserves must be kept at a reasonable level in relation to the overall turnover of the organisation.
Costs of an ongoing nature for the 12 months from 1st March 2025 are:
Pay Costs £22,000 Utilities - Gas, Water, Electric £11,900 Refuse £2,000 Cleaning £11,600 Insurance & Security £2,600 Communications £1,250 Permits and Licences £900 Bank, Accounting £1,700 Maintenance £8,200 £62,150 Total Reserve (6 Months) £31,075 Minimum total required for 3 months £15,538
Notes to Reserve Policy:
i) Based on 50% of expenses recorded in GACCMA profit and loss for the year 2024-25. ii) Due to the age of the building, maintenance costs have been increased.
iii) The analysis is based on the assumption that any legal costs incurred in the closure of the Centre would be met directly by North Hertfordshire District Council.
b. Risk policy
Both the Risk Register and the Business Continuity Plan for the Community Centre's operation in the event of an emergency remained current but are due for review.
c. Investment powers
The Board has power to invest funds not immediately required for operational purposes in such concerns, securities or properties as it thinks fit, subject to any restrictions within the Memorandum and Articles of Association.
At 28th February 2025 there are no funds invested in securities or properties.
d. Going concern
After making appropriate enquiries, the Directors have a reasonable expectation that the charitable Company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Page 5
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
e. Transactions and financial position
The financial statements are set out later in this document. As stated in the introduction to this report, the trustees consider the financial performance by the charity during the year to have been satisfactory.
The Statement of Financial Activities shows a net movement in reserves for the year of £3,024 ( 2024: £(8) ).
The total reserves at the year-end stand at £65,122 ( 2024: £62, 098) of which £2,650 ( 2024: £2,650 ) was restricted. £31,075 of this excess is our 6 months reserves. The remaining balance is planned to be spent in the coming 12 months mostly on maintenance. The most significant work up coming is the replacement of flooring in the main foyer and Hall 3.
The majority of the expenditure is spent on management and administration.
There have been no additions to fixed assets in the year to 28 February 2025.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the charitable Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable Company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 6
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
Statement of Trustees’ responsibilities (CONTINUED)
Conclusion
The Trustees and Directors are pleased to report another successful year and continued financial strength with a positive outlook for 2025/26.
The Community Centre continues to be heavily used for a wide range of children's and young people's activities and has seen increasing demand by a broader range of age groups. Sport, health, fitness clubs and classes continue to provide a strong range of activities to the community. There continues to be steady demand for our ad hoc events, such as private family parties.
The Bunnies Pre-school, who hire the centre five mornings and four afternoons per week, are our biggest hirers as a percentage and provide us with consistent income.
We continue to receive support from North Herts District Council to support ongoing maintenance, which is very much appreciated.
Looking ahead, GACCMA intends on continuing the refurbishment of the centre as it reaches its 20 year anniversary since opening, as well as run events to generate income and offer opportunities for the community to meet and socialise.
Approved by order of the members of the board of Trustees on AN 2025. anna and signed on their behalf by:
00Bock MWS... L. Brockhurst ~~
(Chair of Trustees)
Page 7
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025
Independent Examiner's Report to the Trustees of Great Ashby Community Centre Management Association ('the charitable Company')
I report to the charity Trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of the charitable Company for the year ended 28 February 2025 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed
Responsibilities and Basis of Report
As the Trustees of the charitable Company (and its directors for the purposes of company law) you are responsible 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 the charitable Company 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 the charitable Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charitable Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I 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.
Page 8
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
This report is made solely to the charitable Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charitable Company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable Company and the charitable Company's Trustees as a body, for my work or for this report.
Signed: ............................................... Dated: ........................
Chris Gent BA FCA
Wilder Coe Limited Chartered Accountants 1st Floor Sackville House 143-149 Fenchurch Street London EC3M 6BL
Page 9
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 28 FEBRUARY 2025
| Note Income from: Voluntary income 3 Charitable activities 4 Other fundraising activities 5 Investments 6 Total income Expenditure on: Charitable activities 7 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ - 78,211 364 762 79,337 76,313 76,313 3,024 59,448 3,024 62,472 |
Restricted funds 2025 £ 10,020 - - - 10,020 10,020 10,020 - 2,650 - 2,650 |
Total funds 2025 £ 10,020 78,211 364 762 89,357 86,333 86,333 3,024 62,098 3,024 65,122 |
Total funds 2024 £ - 77,424 467 556 78,447 78,455 78,455 (8) 62,106 (8) 62,098 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 12 to 20 form part of these financial statements.
Page 10
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION (A Company Limited by Guarantee) REGISTERED NUMBER: 05971309
BALANCE SHEET AS AT 28 FEBRUARY 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 11 | 837 | 1,675 | ||
| Current assets | |||||
| Debtors | 12 | 9,562 | 7,886 | ||
| Cash at bank and in hand | 71,409 | 73,995 | |||
| 80,971 | 81,881 | ||||
| Creditors: amounts falling due within one | |||||
| year | 13 | (16,686) | (21,458) | ||
| Net current assets | 64,285 | 60,423 | |||
| Total net assets | 65,122 | 62,098 | |||
| Charity funds | |||||
| Restricted funds | 2,650 | 2,650 | |||
| Unrestricted funds | 62,472 | 59,448 | |||
| Totalfunds | 65,122 | 62,098 |
The charitable Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on AZ[LNi 2028...7 and signed on their behalf by:
af) 2 on . L. Brockhurst (Chair of Trustees)
The notes on pages 12 to 20 form part of these financial statements.
Page 11
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
1. General information
Great Ashby Community Centre Management Association (company number: 05971309), having its registered office and trading address at Great Ashby Community Centre, Whitehorse Lane, Great Ashby, Stevenage, Herts, SG1 6NH, is a private charitable company limited by guarantee, incorporated in England and Wales.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The charitable Company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The charitable Company's functional and presentational currency is Pound Sterling (GBP).
Great Ashby Community Centre Management Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Company status
The charitable Company is a company limited by guarantee. The members of the company are the Directors named on page 1. In the event of the charitable Company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable Company.
2.3 Going concern
At the time of approving the accounts, the trustees have reasonable expectation that the charitable Company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
2.4 Income
All income is recognised once the charitable Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income from charitable activities comprises income relating to hall hire. This income is accounted for in the period in which it is receivable being when the hire takes place and deferred as necessary.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Investment income is included in the accounts when it is receivable.
Page 12
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
2. Accounting policies (continued)
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central costs are allocated on the basis of time spent.
Expenditure on raising funds includes all expenditure incurred by the charitable Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and noncharitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.6 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charitable Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
2.7 Taxation
The charitable Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charitable Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2.8 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Fixtures and fittings - 25%
Page 13
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
2. Accounting policies (continued)
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charitable Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.12 Financial instruments
The charitable Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.13 Pensions
The charitable Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charitable Company to the fund in respect of the year.
Page 14
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
3. Voluntary income
| Restricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2025 | 2025 | 2024 | ||
| £ | £ | £ | ||
| Grants | 10,020 | 10,020 | - |
4. Income from charitable activities
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2025 | 2025 | 2024 | |
| £ | £ | £ | |
| Hall hire | 78,211 | 78,211 | 77,424 |
5. Income from other trading activities Income from fundraising events
| Fundraising events 6. Investment income Bank interest receivable |
Unrestricted funds 2025 £ 364 Unrestricted funds 2025 £ 762 |
Total funds 2025 £ 364 Total funds 2025 £ 762 |
Total funds 2024 £ 467 |
|---|---|---|---|
| Total funds 2024 £ 556 |
Page 15
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
7. Expenditure on charitable activities
| Staff costs Total staff costs (see note 9) Premises costs Insurance Light and heat Cleaning General maintenance Security Trade refuse General support costs Postage, printing and stationery Subscriptions Equipment expenses Bank charges Sundry expenses Depreciation of assets Accountancy Entertainment Governance costs Independent examiners fees |
Unrestricted funds 2025 £ 20,271 1,761 13,824 10,061 22,809 841 1,400 50,696 247 1,206 628 60 695 838 630 100 4,404 942 76,313 |
Restricted funds 2025 £ - - - - 10,020 - - 10,020 - - - - - - - - - - 10,020 |
Total funds 2025 £ 20,271 1,761 13,824 10,061 32,829 841 1,400 60,716 247 1,206 628 60 695 838 630 100 4,404 942 86,333 |
Total funds 2024 £ 19,523 1,726 12,561 21,955 14,101 1,034 1,404 |
|---|---|---|---|---|
| 52,781 186 882 1,389 60 1,296 838 600 - |
||||
| 5,251 900 |
||||
| 78,455 |
Page 16
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
8. Independent examiner's remuneration
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Fees payable to the charitable Company's independent examiner for the | ||
| independent examination of the charitable Company's annual accounts | 942 | 900 |
| Fees payable to the charitable Company's independent examiner in respect | ||
| of: | ||
| All other services not included above | 630 | 600 |
9. Staff costs
| Wages and salaries Contribution to defined contribution pension schemes The average number of persons employed by the charitable Company during Engaged in charitable activities |
2025 2024 £ £ 18,899 18,213 1,372 1,310 20,271 19,523 the year was as follows: 2025 2024 No. No. 1 1 |
2024 £ 18,213 1,310 |
|---|---|---|
| 19,523 |
No employee received remuneration amounting to more than £60,000 in either year.
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £Nil) .
During the year ended 28 February 2025, expenses totalling £582 were reimbursed or paid directly to 3 Trustees (2024 - £ 295). These expenses were reimbursing costs incurred by trustees on behalf of the charity on equipment.
Page 17
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
| 11. Tangible fixed assets Cost or valuation At 1 March 2024 and 28 February 2025 Depreciation At 1 March 2024 Charge for the year At 28 February 2025 Net book value At 28 February 2025 At 29 February 2024 12. Debtors Due within one year Trade debtors Prepayments and accrued income 13. Creditors: Amounts falling due within one year Trade creditors Other creditors Accruals and deferred income |
2025 £ 9,562 - 9,562 2025 £ 2,847 8,955 4,884 16,686 |
Fixtures and fittings £ 43,884 42,209 838 43,047 837 1,675 2024 £ 7,786 100 7,886 2024 £ 10,655 3,992 6,811 21,458 |
|---|---|---|
Page 18
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
14. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 March 2024 £ 59,448 2,650 62,098 |
Income £ 79,337 10,020 89,357 |
Expenditure £ Balance at 28 February 2025 £ (76,313) 62,472 (10,020) 2,650 (86,333) 65,122 |
|---|---|---|---|
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total Analysis of net assets between funds - prior year Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2025 £ 837 78,321 (16,686) 62,472 Unrestricted funds 29 February 2024 £ 1,675 79,231 (21,458) 59,448 |
Restricted funds 2025 £ - 2,650 - 2,650 Restricted funds 29 February 2024 £ - 2,650 - 2,650 |
Total funds 2025 £ 837 80,971 (16,686) 65,122 Total funds 29 February 2024 £ 1,675 81,881 (21,458) 62,098 |
|---|---|---|---|
Page 19
GREAT ASHBY COMMUNITY CENTRE MANAGEMENT ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
16. Pension commitments
The charitable Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable Company in an independently administered fund. The pension cost charge represents contributions payable by the charitable Company to the fund and amounted to £1,372 ( 2024: £1,3 10). There were no amounts payable to the fund at the Balance Sheet date.
Page 20