31 Mweh2022 Waterloo Community Association Contents 3-9 Truslees, Annual Rewt 10 Indep￿￿lent Examinerfs Report 11 Statement of Financial Adivitie8 12 Balance Sheet 1&23 Notes to the Finanaal Staletr*nts page 2 Waterloo Community Association Trustees, Annual Report For the year ended 31 March 2022 The trustees. who are also Diredors for the purposes of the CompaniesAc( present their annual report and fmancial statements of the charity for the year ended 31 March 2022. The financial statements have been Fwared in accordan￿ with the acc￿m￿ng poliues set out in note 1 to the accounts and comply with the ch￿l￿S goveming d0￿men[ the ChariliesAd 2011 and Ac(xJunting and Reporting ty Charilies: Statement of Re(x)mmerKled Practice applicable to charities preparirKJ their accounts in a(urdanGe with the Financial RepoTting Standard 102 applicable in the UK and Republic of Ireland. The accx)unts have departed from the Charilles (Acc¢wnts and ReFM)rts) Regulations 2008 only to the eXte￿t required to wovide a true and fair view. This depathre has involved following the Ststement of Recommended Pra￿1<￿ for tharities applying FRS102 ralher Ihan the version of the Stalement of Recommended Pra{Xi￿ which is referred to in the Regulati(Th txrt Yknich has since been wilhd￿. Objectives and Activities The obiert8 of the (tharity are.. 1) womote the benefft of the inhabilants of the wea of benefit withoul distindion of sex, sexual orientation. nationaty. age. disabilty. race ￿ of w11li￿. religious or other opinions by associating together the said inhabttants and the ststutory authorities, voluntary and other organisalions in a common tort to advanc£ education and to Provide faylilies in the interests of social welfare for recreati￿ and leisure time o(¥>Jpation *ith the object of inyoving the (Xy￿1￿ of life for the said inhabi￿t8. 2) estsblish. or to secure the estsblishment of a Communty Centre and to maintan and manage the same ak)ne or in co4)peratton wilh stattrtory aulhoTity or other person or in ftlllierance 3) Fyomote other charilabje purposes as may from to twne be delemiined. In relallon to these objecas we have opernted a community centre wilh a wide rdnge of activities which we linked to the wellbeing of local residents inGl&NJing a ￿&1Y community kitchen and cycle dub. In setting our objectives and planning our adivities the twstees have given careful consideration to the Ch*ity Commission's guidanR on public benefiL Waterloo Community Association Trustees. Annual Report For the year ended 31 March 2022 Achievements and Perforniance Helen Caln, our Centre Manager. relired during the year arHI will be sorely missed, we want to place on re￿rd our thanks to her for her commitmenL Luckily. our 8ulldlng Manager, Mike Caln, has stepped knto the role so there is som8 cthinuty. As we started the financial year * were conllnulThJ to deal vath the fallout and consequences of the Coronavirus (Covid19) pandemic. During the year some of our regular groups were Still not meeling Unfortunately the Communty Kitchen has ￿ to te4)pffj we are still seeing Covid affect the lives of our community and many people are Still takirvJ thdr tune to resume their previous activibes indudiThJ some of our volunteers. As Trustees we are etemally grateful to the volunteers who have supported the arKI cyde dub continu8 to opw*. Th• Bulldlng We had hoped to restart our developmentwork, hower, thls has not been possible due to capaclty of TnBte8s and we are seeking ways to pnJgre85 ltrus, mean%thile continue to maintain and cherl8h the fabrlc of the building to ensure it is open for all the Ccthm￿ity in Waterfoo and the sum)unding area. As rnentioned prevlousty we have not been able to conlinue vrith (wr popular Communty Kil(*en for the moment and do r￿t yet have a reslart d* for reopering. H￿￿ever. some of our other artivitse8 suth as the Tour de Fri￿￿8 Cyding Club, confinue to operate and are very popular. Tr group started to meet in butths ralher than the whde group during the paNJemic and these small bubbles have COn￿nUed th the whole dub meetin9 at regular intervals. The group is as for the social side a8 the physical rides that m￿nbern enjoy this dub. This regular contad has been ￿la1 as some members of the group live alone and had no conlact with 0th8r8 apart from online meelirwJs cyde rides when they restarted albeit in smaller wps. We continue to offer hlre of the bulldlThJ to local groups and the communty, enabling a range of activities to take place In the area which h* our cunmurity lead fulfilllng Ilves, Waterloo Community Association Trustees. Annual Report For the year ended 31 March 2022 Financial Review The operat￿￿ de￿at the genera fund dumg the year was £{11.260) (2021: Sur￿ls of £22,090). As at 31 Marth 2022 totsl furKls of £158,497 were hdd, of £142.130 wwe in urKestricaed funds and ¢>)sts aThl also furlough Sth￿ne has alky￿1 us lo provmle fi￿Xa1 support to our slaff. The twstees have desI￿ated ￿rtain funds to assist in the financial management of the charilable Jmpany. In oth to assist Ihe trustees to ithtify the free cash reseTve5 a desigxted Fixed Assd fund 8h(xrfd hold the value of tangible fixed assets as at each year*nd. We have a policy for IK)kliFVJ reserves or￿e we have reathed a sd limiL Ths has not yet been r￿ched wj we will con11r￿ lo M￿lIor this FX)IiGy. The reseNe poliLy is to enswe that should there be unforeseen event or ifwe are to look to undertske mw works we have the resources to do so. At th poirt in twne ￿ IHve SUffi(x￿ f￿d8 to vJver our liabililie& Plans for Future Periods r plans for futtxe periods have been affethd by the <*rfnued impa& of Covid19 alth(￿￿ the Tru8tees have bewn to review Ihe fiThling I￿KIScaPe to begwb again a programme of fvrKlraisirvJ to impm the buil¢Ang in line with the prgect which Ihe Tntstees completed with the Heritage Lottery. Tr Tntstees focus is filmly on ts buikliTKJ refwbishmert as well as vllxking vitth all our partners to enswe that Ihey enjoy using the Cekn and Ihat ￿ as an organisalion are ab￿ to reS￿r￿ to local need, partiGulady aB the long term impacl of the pandemic is not ￿ filly Underst￿ bui it is dear that therE are em011(￿￿, scmyal and mental health needs we will need to re￿t to a5 an uganisatTh for ow communty. Th•nks Although previ(xtsty referenced we would like to re(xKd our thanks to the staff Mike and Helen Cain for their iThxedible SW)[￿ ￿)TkIng above Iw(#id Ihe (al of (W. Sefton CowKil for its ongoirwJ support arKI the wider (x)mmurMty fw continuing to bvork with us, we value their trust and look foThvaTd to page 5 Waterloo Community Association Trustees. Annual Report For the year ended 31 March 2022 Reference and administrative details 11187rAs page 6 Waterloo Community Association Trustees. Annual Report For the year ended 31 March 2022 Structure, Governance and Management Goveming Do(￿￿￿t Watetkn CommuntyAssocithn is a company limited by guarwttee govemed by its ￿￿0[alK1ufft a￿j ArtKaes of Associabon dated 291h 20￿. It is registered with the Charity Commission. Anyone over the age of 18 can bec￿ne a member of the Company and there are (x¥r￿￿lY 7 members (7 in 2021}. each ofvknom to (¥)nlTibute £10 in the event ofthe charitywnthThJ ￿. Apwinlmert (* trustees As set out in theArticles of Association the trustees are elected by members of the (*arftable cx)mpany attenthThJ theAnnual General kleeting. Th8 longest servio one IIMrd of trustees retires eath year and Is Tntstee irKluclion and tralning New tNstees undergo an orientalion day to brief them on: their legal Ob￿g￿n$ urKler clwity and (x)mp￿Y law, the Ctwity commissK)n guidan￿ on pJbliG beneft ￿￿1 infomi them of the contwrt of the MemoraMI￿n arKI Arlides of A8soclalion, the commiiiee and dedslorHnakiNJ wocesses. the business I re(￿rt ffftancial ofthe chaiity. Duriry the indudion process they meet key employees aTMJ otherlTUStees. TnBtees are encowaged to attend apFwriate extemal tsning events The board of vthith cai should have a minimum of 3 and T¥)t more than 12 members. adminbsters the (*o1ity. The board rwjmialty meet meets 4warlerfylm￿. A Cfmef Execxrtive is winted by the trustees to manage the day to day (wations of Ihe charity. To faolitate effedive oF￿all￿S the None of our Iwstees receive remun￿ati¢￿ ￿ ¢ts benefft from their ￿ with the (*wlty. Any ￿)nneCtIOn bet￿n a trustee or senior manager of the Cha￿ and any client (x swlier is th8dosed to the fijll tx)ard oftrt￿ in the same way as any other cortsthl relalionship with a related party. In the ￿rent year page 7 Waterloo Community Association Trustees. Annual Report For the year ended 31 March 2022 TrE tr￿teeS have a rlsk markigmert *alegywhid) com[￿￿5. ' an annual review of the principal risks aThl unc*nties that the charity fa￿. ' eslablishment of policies. SySt￿n9 WKI wocedwes to miw those risks identified in the arwHMI review; and . Ihe implementation of procedures designed to minimise or manage ary potential impact on Ihe chwity sIM)uld those risks materialise. Thls th has identified that financial sustsinabilty Is the major firwKial rlsk for both the charity aThJ ils sthidiary. A key element In the management of financial risk is a regular review of available liquid thr to setue debts as they fall due, regular liaison wllh the bank and adive management of trade debtors and editors balances to ensure sufficient vthiTrJ (xpiial by Ihe thaTity. Attention has also been focused on rK)n-financ4al risks arislNJ from fire, health and safety of clients, food hyg￿￿. These risks are managed by ensuring acue¢*lth is up to date. having robust policies and pr￿ed￿88 in place, arKI regular awareness tralning for *aff working in these operational areas. Waterloo Community Association Trustees. Annual Report For the year ended 31 March 2022 Trustees. Responsibilities The ttustees, who are dso the dire1￿rS of W*rloo C(￿MU1￿tyASS0llation for the purpose of o)mpary v. are responsible for preparing the lrnstees, report and Ihe financial statements in acconlance with applicable law and United lfjngdom Acco￿1￿￿ Standwts (United Kingdom Genera1tyA￿Pted Aux)yn1ing Practic*}. Company law requires the charitg trustees to try)are financial sLqtements for each financial year give a true and fair view of the state of affaF of Ihe i*witable company and of the incoming resol and application or r&wurces. induding the in(xxne arwj expenditure, of the d)aritable ￿MpanY for that y￿. in preparing the finanaal slatemerts. the 1Th￿te85 are r4uired to: 1) 8elect suitable acc(yJntsng polldes and then apply them consistenuy.. 2) obseNe ts methots and prinCI￿t5 on the Cknb8s SORP; 3) make judgements and estimates that are reasonable wuden( 4) state whether applicable UK acwunling standards have been folltrwed, subiert to any material departures disclosed and explained in the financial slatemwts; 5) prepare the financial statements ori the goiThJ ¢xncem basis U￿eSS It is inappropriate lo presume that the d*rity (%￿li0nue in busine8S. The tru*es re8pontAble for k88ping proper aLxountitvJ records that dlsdose ￿ reasor ac(wacy al any time Ihe finandal FM)Sitioh of the charity and to enable them to ensure that the fmarKxal statements comply with the Comapnies Act 2(M)6. They are also responsible for the safeguarding the assets ofthe thaTity and for taking reason*e steps for the prevention and delection of fraud or other irwulanties. The trustees are responsible for the mairrtenance and integrfty of the corporate and financial information induded on the chariiable cOmpan￿S website. Legislalion in the United lfjngdom goveming the prep￿ation and disseminalion of financial statements may differ from legislation in otherjuristhdi)ns. This rep(xt was approved by the bowd of Inth5 on 7th December 2022 and signed on their behalf. Paulette Lappln Company Selxetary P&rfcla CovAey Chair of Tn page 9 Independent Examinerfs Report To the trustees of Waterloo Communlty Association For the year ended 31 March 2022 I report to Ihe trustees on my examlnation of Ihe xLx)(mts of Waterkxj CommunityAssociatK)n for the year ended 31 March 2022. Responslblltles and basis of report As the tharity tru3t88s of Walerfoo CommunItyAssoc4ati(￿ (and a180 its directors for the purposes of mpany law) you are responsible for the prepar*on of the acu)unts in a￿dance with the tEqurfflnents of the CompaniesAd 2006 (Ihe 2{￿A¢r). Having satisfied myself that the accounts of Waknlth) Communlty Association are not required to be audited undeT Part 16 of the 2006Act arKI e*e eligbl8 far independent examlnation, I report in respect of my examinats'on of your chaiitys awounts as carried out under saction 145 of the Charities Act 2011 Cthe 2011 Arf). In carrylng oul my examinalion I have folkyKd the dredlons given by the Charity Commission under sedion 145(5} {b) of the 2011 A< I have rjxnpleted my examination. I confirni that no matters have (x)me lo my attention In conr*ction examlnation giving me cau88 to believe: (1) accounting records were not kept in respect of Waith Community Aspjociation as requlred by sedicm 386 (rfthe 201X Act; or (3) the accounts do not comply with th8 aCanywa8 erlitted to exemptiw urKler sectlon 477 of the compw￿$Ad 2(X16 relating to small companies. DirectOTS' respon&bilitie&" 1) The members have not required the ¢)ynpany to obtain an audit for its a¢xx)unts for the year in queslion in ac(x)rdance wth seclion 476. *• 2) The directors ackno￿8 their resp￿sibIlItieS for com￿￿Trg with Ihe rewlrements of the Act with These a￿nts have prepared and delivered in aCCor￿ce the provisions appthcable to companies sulyect to the snall companies, regime. Paulette L4)pin, Tntstee 1649• The notes on pag8s 13 to 23 fomi part of these fina￿la1 statemerts page 12 Waterloo Community Association Notes to the Accounts For the year ended 31 March 2022 A(YouDting Policies la Basis of preparalion The financial statements have been prepared in acc¢Wdan￿ with Accounting arKI Reporting by Charities: statement of Re￿IMmerKIed Pradice applicable to chaiilies preparing their accounts in a¢cordanGe Mlh the Financial Rep(Kling Standard applicable in the UK arKJ Republic of I￿land (FRS 102) (effe(*ive 1 Janaury 2015) - (Charities SORP (FRS 102)), and the c￿panIesAd 2LK)6 and the UK Ger*rally Accepted Accounting Practic£ as it applies from 1 knuary 2015. Wat￿100 Communty Asso(xabon meets the definilion of a pthlic benefft entity under FRS 102. Assets and liabilities are initially recognised at historical cost ortransadi(m value unless otherwise stated in the relevant accountiru policy note. The functional CU￿ used by ￿00 Ccffjm￿ltyA3Sryjafr0n is the £ Sterling. 1b. preparati￿ of the accounts on a goff￿ concem basis The result for the spar does not raise any signifi(xnl concerns of the charitable companvs abilty to continue as a going concem. Free r&8erve& after deduding f￿1 assets. inmsed by £7.071 to £11,085. 10 Inc(xne Income is recognised when the chaiity has entitlement lo the f￿￿*8. any pthTmance conditions attached to the item(s) of income have been rt it is wobable Ilnt the income will be reL%ived arKI the amourt (xn be measured reliably. Income from govemmenl and other grants, %thether'capital' grants or 'revenue' grants, is recognised Mthen the charity th entiknent to the fund5, any [Erf￿an￿ condition5 attathed to the item(s) of In￿Me have been nieL it is probable that the income will be received and the amount can be m&2sured reliably and is not deferred. Interest on funds held on deposit is induded when receivable and the amount can be measured reliably by the tharily, this is nomialty upon notifi(xtion of Ihe interest paid or payable by the bank. page13 Waterloo Community Association Notes to the Accounts (cont.) For the year ended 31 March 2022 AryollDting Polieies (eonL) 1d. Expenthiure Exp8ndiknre is Teo)gnised once there is a legal or o)nslruGtive obligation to make a payment to a third party, it is probable that settlement will be ryi￿d and the amount of the obligation can be M￿sUred reliably. Expendiiure Ss dassffled under the followirwj &tsvity heading8: Irre(xwerable VAT is tharged as a ujst agalr*t the activity for whith the expernliture was incurred. le. FwKls Accwnling AM income and expendiknre together wilh gain5 and kEess are allocated to a speafic C*￿rI1￿ fund. Unrestiided funds are available to sp￿￿1 on acllvifjes that fvrthr any of the purpose8 of the tharity. Restri￿ funds are donations which Ihe th)nor has spe(xfied ￿e to be used soley for parlicular ￿eaS of the Charilvs work or for specific projects being undetlaken by Ihe chaiity. Furlher details of restri(aed together wilh their purposes are set cmjt kn 13. Page 14 Waterloo Community Association Notes to the Accounts (cont.) For the year ended 31 March 2022 Acco￿11ng Policie8 (eonL) 1f. Tangible fixed asBets and deprecialion Tangible assets are stated at (Tht1&88 a¢￿￿Ulated deFKeciation and accumulated impaimient losses. cost irKludes the original purchase price. costs threcty a￿lbutab1e to bringing ts asset into tts w0￿1ng cx)ndilion for its InterKled use, dismanding and restoration costs and bommlng costs (xpitali8ed. Land and bulldings Include freehold office8 and communlty centre8. Land and buiklings are stated at Gosl less accumulated depredatlon and accumul*d Impalrment10&8es. Depreciatlon Is syovided at the foll¢Mlng amud rates in order to wrlte each agset off over its anticxpated Useful economic life. A full yeaV8 depreciation charge is charged In the year of acqu18ition and no (kprec4ation is charged in the year of disposal. Freehold land Freehokl t￿ildIng$ No depre(xalion is (*arged stsght line basis over 50 years Subsequent costs are induded in the assets carryiThJ amount or recognised as a separate asset, as approprlate, only vthen It Is probable that eccffiomlc ￿efft$ assoct* wlth the Item will flow to the charitable company and the cost can be rneaswed relieknty. Repairs, maintenance and minor inspedion o)* are exp￿ed as inGurred. Tangible as8ets are dereognised on di8￿9a1 or when no firture e(x)nomic benefits are exp8d8d. On ¢thsposal, the difference betwnee the net disposal woceeds and the caffying amount is recogTxwI in the statement of Financial Activities. lg. Debtors Trade and other debtors are re(x)gnised at the selttement amount due after any trade rfiscount offered. Prwments are valued at the amount prepad net of trade discounts due. 1h. Cash at bank and in h8nd Cash at bank and cash in hand includes cash a)d slNxt term highly liquid invesknents with a 8hc¥t maturity of Ihree months or less from the of aC￿ls1110n or openirvJ of the deposit or swnilar aXo￿L page 15 Waterloo Community Association Notss to the Accounts (cont.) For the year ended 31 March 2022 CharitsbleAdivRty Ineome 21Y22 2021 Room hire 12,644 12,644 3.994 Undertaken Direc 2022 2021 Communty Centre 25,336 41. 148 25,336 41. 148 Stsff C(K4ts 2021 VKège8 and Salaries 17.458 21.651 17,458 21,651 The trustees received ry) remuneraticffi during the year (2021: £nil). The trustees did not T￿1ve ffj expen8e8 duri￿ the ￿ar (2021: £nil). page 17 Waterloo Community Association Notes to the Accounts (cont.) For the year ended 31 March 2022 Key Management Personnel The truslees conslder that the key management perSor¥￿1 comprise the truste8s ￿ the Serior Management Team as folk>ws.'. Trustees Chair of trustees Paul Cummins WinifTed Hogg Paulette Lappin Margaret Kerbey nne Lee Elly Smith Reslgned 191h June 2022 Senior Management Team Certre Manager. Mike Cain 2022 2021 Total Remuneration 17.458 14,820 Net Ill￿e for the year Net income is stated after charging: 2022 2021 Depre(xati( page 18 Waterloo Community Association Notes to the Accounts (cont.) For the year ended 31 March 2022 111 C28h at bank and in Iwid 2022 2021 Cash & bank Cash in hand 11.767 214 21.781 11,981 21.781 IL Credltors: AmopJDts falling due Ivithin one year 2021 Trade credftors A￿ual$ and defwred incune 404 225 2,893 629 2,893 page 20 Waterloo Community Association Notes to the Accounts (cont.) For the year ended 31 March 2022 4.OJ4 35.1415 130073) ij.OP6 (Z8OP) 13V J45.014 35.J45 OJ73) 149.280 (25 J30 181Kl Tr) ) 135.41KI 149286 i&1 Q5J3 141130 page 21 Waterloo Community Association Notes to the Accounts (cont.) For the year ended 31 March 2022 J.404 5W5 Jl.855 4.500 (w)0) (4.500) SM6C. Udlllle3 J.892 1.892 J7.8J IJ¢J 9211 (4.5CKI) (J.4X)) 7￿> 8Uk 5,855 3.151 9211 (low) 5.107 page 22 Waterfoo Community Association Notes to the Accounts (cont.) For the year ended 31 March 2022 In order to comply with Flnanclal Reporting starK￿ 102 ￿1¢h requres (x)mparntive itrformation to be slateM￿ of Financial Activilies for the ended 31 March 2021. Total FurKIs FWKI FurKI 31,151 17.819 48.970 Total income 35,145 17,819 Expendliure on Charitable adivitles 30,873 10,500 30.873 30.873 10,500 30.873 Net income 14,772 7.319 22.091 Olher Recognised gains: 14772 7.319 22,091 page 23