REGISTERED COMPANY NUMBER: 06354930 (England and Wales) REGISTERED CHARITY NUMBER: 1122405 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR ST ALBANS COMMUNITY ASSOCIATION J W Hinks LLP Chartered Accountants and Statutory Auditors 19 Highfield Road Edgbaston Blrmin8ham West Midlands B15 38H
sr ALBANS COMMUNITY ASSOCIATION CONTENTS OF THE FINANCIAL sfATEMEPffS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees I to 11 Report of the Independent Audltors 12 to 14 Statement of Flnanclal Artlvltles 15 Balance Sheet 16 to 17 Ca$h Flow Statement 18 Notes to the Cash Flow Statement 19 Notes to the Flnanclal Statements 20 to 46
ST ALBANS COMMUNITY ASSOCIATION IREGisfERED NUMBER: 06354930) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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 1021 (effective l January 2019}. OBJECnVES AND AcllviTIES Objectives and aims ...rp_oses and aims St Albans Community Associations objectives and principal activities are to Improve the conditions of life for the residents of the St Paul's Ward and the surrounding areas of Sandwell through the provision of services to meet local need and to make available facilities for groups and local people. St Albans Community Association's vision can be summarlsed as follows. To work for a community in whlch all are valued and respected. To work for a community in which every resident has access to the informatlon, support and quality seNlces they need. To work for a communlty In which everyone, irrespective of their history, culture, race, gender or disability. can feel 3 sense of belonging. St Albans Community Associatlon's mlsslon Is to be an a55et to the local community by providing access to inclusive and supportive service5 which enable residents to thrive and achieve their potential. our work delivers our aims Ensurinu.--..-.. We review our airns, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us to ensure that our aim, objectives and activities remained focused on our stated purposes. We have referred to the guldance contalned In the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. The focus ofour work The Association continue5 to provide various activities to benefit a wlde range of age groups. At present, the Assoclation provides a pre-school provision, a day opportunities service, an outmeal servlce, an advlce and support service. community support, carers support, an older people support service and opportunities for volunteers. In addition to the various services provided by the Association, the A550ciation a150 hires rooms to various communitylvoluntary groups from the local area. Their activities include art5 and crafts. paintin8 and many other activities which 5UIt a wide range of people and a8e groups. Furthermore, the Association also supports several autonomous groups by providin8 not only rooms but also support, advi and guidance on funding. Grantmakin8 The A550ciation reviews various organisations and individuals who support and deliver the A550ciation's objects. Potential recipients of grants paid by the Association are reviewed by the A550ciation on a case by case ba51S depending upon the available resource5 of the A550ciation. Page I
ST ALBANS COMMUNITY ASSOCIATION {REGISTERED NUMBER: 06354930) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT Achlevement and performance Charltable artlvltles How our actlvities deliver public benefit_ In setting our objective5 and planning our activitie5 the trustees have given careful consideration to the Charity Commission's general guidance on public benefit. including the guidance on public benefit and fee charging. Our main activities and who we try to help are described below. All of our charitable activities focus on our ability to improve the conditions of life for the residents of the St Paul's Ward and the surroundin8 areas of Sandwell through the use of the facilities available to the Association. Throughout this year St Albans has remained steadfast in its commitment to improving service5 and delivering a holistic approach to all of our work and partnerships. We take pride in our continual dedication, compassion and commitment which are the driving forces behind all of our endeavours. Our services have made a difference and have become a beacon of hope and support for our community. reinforcing our shared mission and value5. This impact on our community is a source of prlde and connection for all of us. o Extenslon to Association premlse5 This year, St Alban5 ha5 achieved remarkable success In ralsln8 funds for our planned reconfiguration, renovation and new bulld. The building work5, which began in September 2023, are aimed to extend, reconflgure and enhance our existing structure. Our dedicated project team, with their unwavering commitment and meticulous plannin& ensured minimal disruption, keeping the project on track and, most importantly, within budget. Their exceptional work. coupled with the overwhelming 5UPPOrt from our 5takeholder5, led to a fundraising triumph that exceeded our expectations, enabling us to make significant improvements and future-proof the building beyond our initial vision. o Junipers IPre-Schooll It has been a challenging year In pre-school, not wlth the usual recruitment difflcultle5 but with the continuing growth of children with additional needs. We have been working tirelessly to address these challenges and in February 2024 we were privileged to be able to recruit a Family Worker, with funding from Communities in Sync Wider Determinants of Health programme, to enable us to holistlcally support parents who need a5SlStance, advice and guidance with not only problems with parenting but also with external factors such as the cost of Ilvln& poor housln8 and general poverty. Our Ofsted inspection in May 2023 was good. Although we wanted an outstanding assessment from Ofsted we will take the recommendations made by Ofsted on board and will work to implement their recommendations at our next inspection which is scheduled in 2026. o Elderberries (Day Care/Lunch Clubl The Elderberries Club has been and remains a lifeline to our clients and carers, providing much-needed respite for both parties. Our Manager, Claire, our newly recruited Activities Co-ordinator, Natalie, and our exceptional team of staff are the heart and soul of the Ilderberrles Club. They provlde a day fllled wlth love, support and care, along wlth a dellclous meal and entertainment. Their dedication and hard work are always reflected in the positive feedback we receive and the smiling faces of our clients and their carers. We are truly grateful for their contributions and the difference they make in the lives ofour community members. With the achievement of obtaining Approved Provider Status Wlth the Local Authority, we See this servlce going from strength to strength. Pa8e 2
ST ALBANS COMMUNtrY ASSOCIATION (REGISTERED NUMBER: 06354930) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 o Outmeals We continue to deliver outmeals to those clients who cannot cater for themselves. Our service is to provide a freshly prepared meal each day and a pair of eyes and ears to ensure that people are living as best they can. o Welfare Rights This service, funded by The Henry Smith Charity, has continued to be busy, especially as we seem to be still experiencing increasing costs. Our adviser continues to be in great demand. o Digicomm In partnership with Sandwell Community Information and Participation Service5 {SCIPSI and funded by the National Lottery Community Fund, this project has continued to grow in the last few years and this year we have widened our reach with the Know Your Neighbour project. This ran alongside our usual digltal activities and was aimed at supporting those living in tower blocks to access digital devices and to help people with connectivity issues. Thanks to donations from Sandwell Council as part of their Digital Strategy we received Chromebooks and dongles which we could give out to those groups to allow them access. WÈ recruited and trained local digital champions so that the legacy of support could continue post the project end date. This was very successful and led to one group startin8 a digital café in their area for people to drop in and receive support. We have also continued to deliver 1-2-1 sessions for older people as well as local 8roup sessions In libraries and extra care facilities to enable people to become more di8ltally active, learn to book appolntments online, order shopping and facetime friends and famlly. o Volunteer Programme Funded by the UK Government in partnership wlth Communltles In Sync, Kuuma Centre and Age UK, this project was aimed at supportin8 people into volunteering roles in order to gain skills and to help people into employment where suitable. In the 8 months the project was live we supported 113 people to access a role to help them gain qualification5 or employment. These roles were both within and outside of our organisation. o Communlty Offer Funded by Sandwell Metropolitan Borough Councll and In partnership with The Dorothy Parkes Centre, St Albans provides a wide range of support to residents living in Smethwick. The Community Navigators work with residents who are generally at a very low point in their lives and, in some cases, In desperate need of immediate support. o Dementia Support Servlce The Sandwell Community Dementia Support Service is funded by Sandwell Metropolitan Borough Council with the lead or8ani5ation being Murray Hall Community Trust along with other partners from WBACRC, A8e UK, A8ewell, BUDS, Alzheimer's Society and Dementia Pathfinder5. The programme provides support for those living with or caring for someone with memory loss andlor a diagnosis of dementia. The programme is in great demand and provides a wide range of support to people in various situations. Our Advisor is patient and her support is personalised. A5 dementia is progressive she is also very practical. Page 3
ST ALBANS COMMUNITI ASSOCIATION (REGISTERED NUMBER: 06354930) REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT Finandal revlew Flnancial positlon The Statement of Financial Activities for the year ended 31 March 2024 shows incoming resources of £1,697,599 12023- £1,188,391) and re50urce5 expended of £936,156 12023: £811,948), generating a surplus of income over expenditure totalling £761,44312023: £376.4431. As a result, the Association's net asset5 have increased from £1,493,565 as at 31 March 2023 to £2.255.LK)8 as at 31 March 2024. For the year ended 31 March 2024 the trustees note that the surplus of £761,443 includes grant income totallin8 £385,0(K) due from the Bernard Sunley Foundation, the Eve50n Charitable Trust, the Garfield Weston Foundation, the Heart of England Community Foundation, the Rowlands Trust and the Wolfson Foundation which have been obtained to help finance the A550ciation's reconfiguration, renovation and extension to the Association's premises. These monie5 have been recognised within total grants receivable totalling £1,222,02712022', £802,294) as disclosed In note 6 to the financial 5taternents for the year ended 31 March 2024. This is in addition to an Inltlal £300,000 In grant income which was recognised by the Association durlng the year ended 31 March 2023 a5 due from the Department for Levelling Up, Housing & Communities, Community Ownershlp Fund to help finance the Association's reconfiguration, renovation and extension to the Associatlon's premlses. The reserve5 are primarily to cover the development and future operational expenses of St Albans Communlty Association. Prlnclpal fundlng sources st Albans Community Association is reliant upon the income derived from grants it receives from organisations such as Sandwell Metropolitan Borough Counci1 and other grant making organisations as well as income derived from room hire and caterin8 and other sources of income. Page 4
ST ALBANS COMMUNITY ASSOCIATION (REGISTERED NUMBER: 06354930) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT Flnanclal revlew Reserves policy St Albans Community Association recogni5es the Importan of having reserves. These funds are freely available to Spend on any of the Association's purposes and hence exclude restricted fund5. They will be used to mitigate significant falls in income or to take advantage of new opportunities. The Association faces a number of risks that may result in the need to use the Association's reserves. Some of these include the followin8. A reduttion in funding from external funding providers. Unexpected refurbishment costs in relation to the Association's premises. External factors impacting the Association such as Natlonal Llvlng Wage increases or increasing utility bills. Reserves are represented by the fund balances as disclosed In the balance sheet on page 16 of the financial statements, The balance sheet shows unrestricted reserves (reserves that do not carry any restrictions on how they can be used) of £1,092,152 as at 31 March 2024 {2023: £891,860). In assessing our level of free reserve5 a5 at 31 March 2024 we also exclude fixed assets totallin8 £209,850 12023: £129,014) and deslgnated fund balances totalling £386,743 12023.. £479,035). This leaves free reserves totalling £495,559 as at 31 March 202412023: free reserves totalling £376,103). The trustees have revlewed the reserves of the Association. It 15 the policy of the Association to maintain unrestricted funds, which are the free reserves of the Association, at a level sufficient to ensure the continued operation of the Association's activities. The trustees acknowledge the Association's free reseryes position as at 31 March 2024 and as at 31 March 2023 have been affected by significant desi8nated fund balances beln8 carrled forward as at 31 March 2024 and at 31 March 2023. The level of reseNes will be monitored and reviewed by the trustees annuallv. Page 5
ST ALBANS COMMUNITY ASSOCIATION (REGISTERED NUMBER: 06354930) REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT Prlnclpal risks and uncertaintie5 The Board of Trustees has responsibility for ensuring that there are effective risk management and systems of internal control in place to manage the charity's major risks and to support the achievement of our strategic objectlve5. The principal risks to the charity and how these are managed are set out below. Risk- financial performance and sustainabilit Risk concerning financial performance and 5UStainability includes any sl8nificant reduction in fundraising due to economic conditions. This risks undermining our ability to meet the needs of our users and to meet our strate8lC alms. Risk concerning financial performance and sustainability is managed by the holding of reserves and a regular revlew of charity reserves. Senior management and the Board of Trustees also regularly review and scrutinise the charity's short and medium-term financial posltion. Risk- safe eo Rlsk concernin8 the safeguarding of vulnerable and young people includes negligence in relation to safeguarding policies or when practlce results in or contributes to serious harm or injury to a young person or vulnerable adult and damages the Association's reputatlon. Risk concerning the safe8uardin8 of vulnerable and young people Is managed by safeguardln8 training for all employees worklng dlrectly wlth vulnerable and young people. Risk- inform tio se Risk concerning information security includes serious data protection or security failure which may result in legal and contractual issues, reputational damage and potential fines and loss of income. Risk concerning information securlty Is managed by having a structure in place for information monitorlng and compliance and by the routine te5tinE of IT systems to Identify any security weaknesses. Page 6
ST ALBANS COMMUNITY ASSOCIATION (REGISTERED NUMBER.. 06354930) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT Future plans During the coming year the Association intends to continue to meet its aims and objectives providing a wide range of services to benefit local people and to alleviate poverty. In general our plan5 for the year ended 31 March 2025 include the following. Business lan In the latter part of 2024 the Board will commence work on the business plan for the period covering the years 2026 to 2029. enabling them to focus on future plan5. This year's plarbs will revolve around maximisin8 income from our new room5, developing our Graze system and strengthening our financial systems and processes. This year,we will introduce a booking system for all visitors, the ability to record invaluable volunteer hours and a booking and management system for 8roups. We will evaluate local services and Current demands to asrtain where the gaps ar as this will influence our plans and commitment to the local area. We envisage that much of our work will revolve around the cost of living. Our focus will also be on completin8 the bulldlng works, including additional works such as new ccrv and a door entry System, to maximlse the securlty of our staff, volunteers, and clients. We will concentrate on marketing our facllltles for hlre and promote our ability to provide caterin8 services. Pre-school The preschool outdoor play area will also require some investment and the staff will be involved in deciding its design and resources. Health_and_safet¥porta! This year we will utilise a new online health and safety portal. This new system will assist the Association In ensurlng we are constantly working safely, providin8 confidence to protect our staff, users, volunteers and visitors., bv following the essential HSE rules and keeping our premlses rlsk-free. With advice on hand, with this system we are reassured that we will adhere to all regulations and provide a safe, clean, well-run faclllty to complement our excellent services. An upgrade to our current human resource system this year, our all-singing and dancin8 HR management system wlll help our fantastic administration team manage our HR processes and staff in one place. The system 15 excellent for managing annual leave. absence, shifts and rotas, and training support. The paperless system has unlimited document 5tora8e, supporting our aspiration to become a paperles5 charity. PartnershiLs We will continue our work with SCIPS and develop our partnership working on the digital agenda and how we can support local people to be digitally mobile. Over the next 1 - 2 years we will be researching and piloting support where we could collectively deliver to support families living through the continual rise in the cost of living and how, digitally, we can help people source better prices on electricity, gas, household items, etc. We will continue our work with Murray Hall Community Trust with the Sandwell Community Dementia Service and partner with four other organisations on the Community Offer. The tender for the Community Offer will launch in May and the successful organisation will be informed around August. We remain members of Communities in Sync from which we have sucssfUllY reiVed monies for the volunteer project. Thi5 has enabled us to actively recruit, train and 5UPPOrt new volunteers and a family worker who can dedicate time to our families Page 7
5r ALBANS COMMUNITY ASSOCIATION (REGISTERED NUMBER: 06354930) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 srRucfuRE. GOVERNANCE AND MANAGEMENT Governlng document St Albans Community Association is a company limited by guarantee (registered number 063549301 which was Incorporated on 29 August 2007 and achieved charitable status on 22 January 20)8 Iregi5tered number 11224051. The A550Clation was established under a Memorandum of A550ciation which established the objects and powers of the Association and is governed under its Articles of Association. In the event of the Association being wound up members are required to contribute an amount not exceeding £1. Recrultment and appolntment of new trustees As set out in the Association'5 Articles of Association new trustees are appointed by the Board of Trustees after applying to the Association in the form required by the trustees and aftor boin8 approved by the Board of Trustees. All trustees give their tirne voluntarily and receive no benefits from the Association. Any expenses reclaimed from the Association are set out in the note5 to the financial statements. Organisatlonal strurture St Albans Community Association 15 organised so that its management commlttee of trustees meet regularly to manage its affairs and formulate pollcy. A scheme of delegatlon is in place and day to day responslblllty for the provislon of the Association's services rests with the CEO. The CEO Is re5ponslble for ensuring that the Association delivers the 5ervlces specified and that key performance indicators are met. The CEO also has responsibility for the day to day operational management of the A550ciation, individual supervision of the staff team and ensurin8 that the team continue to develop their skills and working practice5 in line with good practice. Indurtlon and tralnln8 of new trustees New trustees undergo an orientation day to brlef them on legal obligatlons under charity law, the content of the Association's Memorandum and Articles of Association, the committee and decision-maklng processes and the recent financial performance of the Association, Durlng the Inductlon day they meet key employees and other trustees. Trustees are encouraged to attend appropriate external tralnln8 events where these will facilitate the understanding of their role. Key management remuneratlon In the trustees, opinion, the key management personnel of the Association responsible for the direction, control, running and operation of the Association on a day to day basis consists of the Board of Trustees and the CEO. Ke management ersonnel - trustees All trustees give of their time freely and no trustee received remuneration durin8 the year. Details of trustees, expenses and related party transactions are disclosed in notes 12 and 24 to the financial statements. KeLmana emenl ersonnel - CEO The pay of the Association's senior staff Is reviewed annually and norm311y increased based upon the position of the Association's finances and the cost of living in general. In view of the nature of the Association, the trustees benchmark pay leve15 in other similar organisations of a similar size. Page 8
5r ALBANS COMMUNITY ASSOCIATION {REG15fERED NUMBER: 063549301 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Rlsk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The A550ciation has a risk re8lSter that is viewed on a regular basis. Fundralslng The Association's fundraising during the year ended 31 March 2024 was undertaken by staff and volunteers and not by any professional fundraisers or commercial companies. Only a Small proportion of our income comes from voluntary donations from our supporters. However, through the fundraising efforts of our staff and supporters, we are 8enerating financial re50urce5 to enable u5 to provide our services. Our Board of Trustees is deeply committed to building relationships and trust with our 5UPPOrters and is committed to the strengthening of oversight and assurance concerning our fundraising programmes and in ensuring compliance and best practi in these areas. We contlnue to be committed to addressin8 any expresslon of dlssatisfaction on the part of our supporters and to examining ways to improve the levels of our seNice to them. REFERENCE AND ADMINISThATIVE DETAILS Reg15tered Company number 06354930 (England and Wales) Reglstered Charity number 1122405 Registered offlce StAlbans Communlty Centre St Albans Road Smethwick West Midlands B67 7NL Trustees R Bruce G Darby (resigned 28.3.241 R D Darlin8ton R Evetts M D Hawkes S Penn G Sohal A M Docker (appointed 26.7.231 Chlef Executlve Officer T M Flannagan Senlor statutory audftor Peter Smith ACA Company Secretary T M Flannagan Page 9
ST ALBANS COMMUNITY ASSOCIATION IREGisfERED NUMBER: 06354930) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Audltors J W Hinks LLP Chartered Accountants and Statutory Auditors 19 Highfield Road Edgb3Ston Birmingham West Midlands B15 3BH Sollcltors Silks 8arclays Bank Chambers Blrmin8ham Street Oldbury West Midlands B69 4EZ Bankers Co-operative Bank l Balloon Street Manchester M60 4EP Leek Unlted Building Societv 50 St Edward Street Leek Staffordshire ST13 5DL Santander Bank 2 Triton Square Regent's Place London NWI 3AN Charity Bank Fosse House 182 High Street Tonbridge Kent TN9 IBE United Trust Bank Limited l Ropemaker Street London EC2 9AW FUNDS HELD AS CUSTODIAN FOR OTHERS andwell Dementia Action Allianc The Sandwell Dementia Action Alliance is made up of organlsatlons that operate across the borough of Sandwell and are working towards creatlng dementla frlendly communities to improve the lives fo people Ilving wlth dementla and their carers. Durin8 the year ended 31 March 2022 St Albans Community Association received £5,000 from the Sandwell Dementla Action Alliance to be held by the Association on behalf of the Sandwell Dementla Action Alliance. During the year ended 31 March 2024 a total of £nil has been expended by Sandwell Dementia Action Alliance from this suKn of money, leaving an unexpended balance totalling £5.000 whicki ha5 been included by the Associatiori Wlthin other creditors falling due within one year as at 31 March 2024 {2023- £5,CK)01. STATEMENTOF TRUSTEES, RESPONSIBILITIES The trustees (who are a150 the director5 Of St Albans Community Association for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial statement5 in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" Page 10
ST ALBANS COMMUNITY ASSOCIATION (REGISTERED NUMBER: 06354930) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STATEMENTOFTRUSTEES, RESPONSIBILITIES- contlnued Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial Statements, the trustees are required to select suitable accounting policie5 and then apply them consistently; observe the methods and principles in the Charity SORP; makejudgements and estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in busines5. The trustees are responsible for keepin8 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the asset5 of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In $0 far as the trustees are aware.. there Is no relevant audit information of which the charitable company's auditors are unaware; and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establlsh that the auditors are aware of that information. AUDITORS The auditors. J W Hinks LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. This report ha5 been prepared in accordan with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Report of the trustees, incorporatin8 a strategic report, approved by order of the board of trustees, as the company directors, on 13 June 2024 and slgned on the board's behalf bv: R Evetts- Trustee Page 11
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF srALBANS COMMUNITY ASSOCIATION Opinion We have audited the financial statements of St Albans Community Association (the 'charitable company'l for the year ended 31 March 2024 which comprise the Statement of Financial Activitie5, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountin8 Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial statements.. give a true and fair view of the state of the charitable company'5 affairs as at 31 March 2024 and of its incoming resources 3nd application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reportin8 Standard applicable in the UK and Republic of Ireland,, and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described In the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audlt of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilitie5 in accordance with these requirements. We believe that the audit evidence we have obtalned is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accountin8 in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertaintie5 relating to events or conditions that, individually or collectively, may cast Slgnificant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilitie5 and the responsibilities of the trustees wlth respect to golng concern are described in the relevant sections of thls report. Other Informatlon The trustee5 are re5ponslble for the other information, The other information comprises the informatlon Included In the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of a55urance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially rnisstated. If we identify such material iiiconsistencies 01- apparent Inatei'ial niisstatement5. we are required to deterimine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this re8ard. Oplnlons on other matters prescribed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees for the financial year for which the financial statements are prepared 15 consistent with the financial statements,. and the Report of the Trustees ha5 been prepared in accordance with applicable legal requirements. Page 12
REPORT OFTHE INDEPENDENT AUDITORSTO THE MEMBERS OF ST ALBANS COMMUNITY ASSOCIATION Matters on which we are requlred to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to vou if, in our opinion: adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to take advantage of the small companies exemptlon from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Responslbllltles of trustees As explained more fully in the Statement of Trustees, Responslbllltles, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determlne Is necessary to enable the preparation of financial statements that are free from materlal mlsstatement, whether due to fraud or error. In preparlng the flnancial statements, the trustees are responsible for assessin8 the charitable company's ablllty to continue a5 3 going concern. disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do 50. Our respon51bilftles for the audlt of the financial statements Our objectives are to obtain reason3ble assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a hi8h level of assurance, but 15 not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the a88regate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detectin8 irre8ularities, Including fraud is detailed below: Enquiring with management and others to gain an understanding of the organisation itself includin8 operatlons, flnanclal reporting and known fraud or error. Evaluating and understandlng the internal control system. Performing analytical procedures as expected or unexpected variances in account balances or classes of transactions appear. Testing documentation supportin8 account balances or classes of transactions. Confirming accounts receivable and other accounts with a third party. A further description of our respon5ibilitie5 for the audit of the financial statements is located on the Financial Reporting Council'5 website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Page 13
REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF ST ALBANS COMMUNITY ASSOCIATION Use of our report This report is made solely to the charitable company's members, as a body, In accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company'5 members as a body, for our audit work, for this report, or for the opinions we have formed. Peter Smith ACA (Senior Statutory Auditor) for and on behalf of J W Hinks LLP Chartered Accountants and Statutory Auditors 19 Highfield Road Edgba5ton Birmingham West Midlands 815 38H 13 June 2024 Page 14
5T ALBANS COMMUNrrY ASSOCIATION STATEMENT OF FINANCIAL AcfiviTIE5 {INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Note5 INCOME AND ENDOWMENfs FROM Donations and le8acies 5,342 1,311 6,653 4,288 Charltable artlvltle5 Grants receivable 433,710 789,142 1,222,852 802,294 Other trading activities Investment income Other income 414,106 10.138 4350 414,106 10,138 43,850 376,097 5,712 Total 907.146 790A53 1,697,599 1,188,391 EXPENDrruRE ON Charltable actlvltles Charltable actlvlties Support costs 555,098 151,766 194,049 35,243 749,147 187,009 612,617 199,331 Total 706,864 229,292 936,156 811,948 NET INCOME Transfers between funds 200,282 io 561,161 iio) 761A43 376,443 22 Net movement In funds 200,292 561,151 761,443 376,443 RECONCIUATION OF FUNDS Total funds brought forward 891,860 601,705 1,493,565 1,117,122 TOTAL FUNDS CARRIED FORWARD 1,092,152 1,162,856 2,255.008 1,493,565 The notes form part of these financial statements Page 15
ST ALBANS COMMUNITY ASSOCIATION {REGisfERED NUMBER: 063549301 BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Note5 FIXED ASSErs Tan8ible assets 16 209.850 899.409 1.109,259 415,019 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 17 18 755 79,030 866.216 755 464,030 827.077 1,970 402,169 756,420 385,000 (39.1391 946,001 345.861 1,291.862 1,160,559 CREDITORS Amounts falling due within one year 19 (53,505) (82,4131 1135,918) 182,0131 NEf CURRENT ASSETS 892,496 263,448 1,155.944 1.078,546 TOTAL ASSEfs LESS CURRENT LIABILITIES 1,102,346 1,162,857 2,265,203 1,493,565 CREDITORS Amounts falling due after more than one year 20 110,195) (10.195) NET ASSETS 1,092,151 1,162,857 2,255,008 1,493,565 FUNDS Unrestricted fund5'. General fund Designated - Capital Reserve fund Designated Property Maintenance fund Designated Redundancy fund Designated - Roof Replacement fund Designated - 8uildin8 Extension fund Desi8nated - Buildln8 Refurbishment fund Desi8nated - Minibus fund 22 635,408 30,000 30,000 41,743 60,000 220.000 35,000 40.000 505,117 30,0 30,000 41,743 60,000 Iso,000 35,000 40,0 1,09Z,151 891,860 Restricted funds 1,162,857 601,705 TOTAL FUNDS 2.255.008 1,493,565 The notes form part of these financial Statements Page 16 continued,.
ST ALBANS COMMUNITY ASSOCIATION (REGISTERED NUMBER: 063S49301 BALANCE SHEEf- continued 31 MARCH 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for i55ue on 13 June 2024 and were signed on its behalf bv: rustee The notes form part of these financial 5tatement5 Page 17
ST ALBANS COMMUNITY ASSOCIATION CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 791,810 114,199 Nct ca.h providcd by opcrating activitic 791,810 114.199 Cash flow5 from investlng artlvltle5 Purchase of tangible fixed assets Sale of tangible fixed assets Interest received 1744,3321 {68,2461 4,000 5,712 10.138 Net cash used in investing activities {734,1941 158,5341 Cash flows from flnanclng actlvltles New loans in year Loan repayments in year 14,226 11,1851 Net cash provided by financing activities 13,041 Chan8e In cash and cash equlvalents In the reportlng perlod Cash and cash equivalents at the beglnnlng of the reportlng perlod 70,657 55,665 756,420 700,755 Cash and cash equlvalents at the end of the reportln8 perlod 827,077 756,420 The note5 form part of these financial 5tatementS Page 18
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 1024 RECONCILIATION OF NET INCOME TO NEfcASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the reporting perlod (as per the Statement of Financial Activities) Adjustments for: Depreciation char8e5 Profit on disposal of fixed a55ets Interest received Decreasellincreasel in stocks Increase in debtors Increase in creditors 761.443 376,443 50,092 48,559 11,7561 15,712) 143S) 1359,6801 56.780 (10,1381 1,215 161,861) 51.059 Net cash provided by operatlons 791.810 114,199 ANALYSIS OF CHANGE5 IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank and in hand 756,420 70,657 827,077 756.420 70.657 8Z7,077 Debt Finance leases (13.0411 {13,041) 113,041) (13.041) Total 756,420 57,616 814,036 The notes form part of these financial statements Page 19
ST ALBAN5 COMMUNITY ASSOCIATION NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES GENERAL INFORMATION AND BASIS OF PREPARING ThE FINANCIAL STATEMENTS General Informatlon St Albans Community Association is a charity incorporated in England and Wales. The address of the Association's registered office is St Albans Community Centre, St Albans Road, Smethwick, West Midlands. B67 7NL. Accountlng conventlon The financial statements of the Association, which is a public benefit entity under FRS 102, have been prepared In accordance with the Charities SORP IFRS 102) "Accounting and Reporting by Charities.. Statement of Recommended Practlce applicable to charities preparin8 thelr accounts in accordance with the Financial Reportin8 Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 leltective l January 20151" Financial Reportin8 Standard 102 "The Financial Reporting Standard applicable in the UK and Republi of Ireland" the Companies Act 2006 and the Charities Act 2011. The financial statements have been prepared using the historic c05t convention and are presented In sterlln8 which is the functional currency of the Association, rounded to the nearest £1. The slgnificant accounting policies applied in the preparation of these financial 5tatement5 are set out below. These policies have been con515tently applied to all years presented unless otherwise stated, COMPANY STATUS The Association is a company limited by Uarantee. The members of the A550ciation are the trustee5 named nn the r.nmpany infnrmatinn pAgp.. In thp. p.vp.nt af thp. Association bp.ing wound up the liability in respect of the guarantee is limited to £1 per member of the Association. GOING CONCERN The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorisin8 these financlal statements. The expected level of Income and expenditure Is sufflclent wlth the level of reserves for the Association to be able to continue as a 80ing concern. INCOME All income is recognised in the Statement of Flnanclal Actlvltles once the Assoclation has entitlement to the funds, It Is probable that the income will be received and the amount can be measured reliablv. For donatlons to be reco8nised the Association will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and thi5 requires a level of performance before entitlement can be obtained then incorne 15 deferred until those conditions are fully met or the fulfilment of th05e conditions is within the control of the Association and it is probable that they will be fulfilled. Fur IggdLlgS, viILill¥iii¥iiL is IIIV edl livi uf ilie Associalioi? beiiig iiotified of ali IiiipeiidiiiE distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the Association. However, it Is not always possible to measure the amount expected to be distributed. On these occasions the le8acy is treated as a contingent asset and disclosed. Income from tradng activities includes income earned from fundraising events and tradin8 activities to raise fund5 for the Association. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Page 20 continued.
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- continued INCOME The Association receives local authority grants and grants from other third parties in respect of its activities. Income from local authority grants and grants from other third parties is recognised at fair value when the Assotiation has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Investment income is earned through holding assets such as cash on deposit. It includes Interest receivable. Interest income is recognised using the effective interest rate method and is recognised as the Association's rl8ht to receive payment Is establlshed. EAPENDITURE All expenditure Is accounted for on an accruals basis and has been classifSed under headings that aggregate all costs related to the category. Expenditure is recognised where there is a le8al or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obli8ation can be measured reliably. It is categorised under the following headings. Costs of raising funds. Expenditure on charitable activities. Other expenditure representin8 those items not falling into the above categories. Support costs are those that assist with the work of the Association but do not directly represent charitable activitie5 and include office costs, governance costs and other administrative costs. Grants payable to third parties are within the A550ciation's charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant a5 this gives rise to a reasonable expectation that the recipient will recelve the 8rant. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the A5SOCiation. ALLOCATION AND APPORTIONMENT OF COSTS All costs are allocated between the expenditure categories of the Statement of Financlal Activities on the basls designed to reflect the use of the resource. Costs relating to a particular activity are allocated directlyi Others are apportloned on an approprlate basls e.g. floor areas, per capita or estlmated usage. TANGIBLE FIXED ASSETS Depreciatlon is provided at rates calculated to wrlte off the cost of each asset over Its expected useful Ilfe as follows. Land Freehold property Freehold property improvements Lift and soft play area Furniture, fixtures and fittings Motor vehicles Not depreciated 1% straight line basis IO% straight line basis IO% straight line basis IOYO Straight line basis 25Yo Straight line basis The gain or lo55 arising on the disposal of an asset is determined as the difference between the sale proceed5 and the carrying value of the asset and is recognised in net incomellexpenditurel for the year. Page 21 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- continued STOCKS Stock5 are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving item5. TAXATION The Association is exempt from corporation tax on its charitable activities. CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash In hand and deposits held at call wlth banks. Bank overdrafts are shown within borrowin8s in current liabilities. HIRE PURCHASE AND FINANCE LEASE COMMrrMENTS Assets acquired under hire purchase contract5 and finance leases are capitalised as tangible fixed assets. Assets acqulred by flnance lease are depreclated over the shorter of the lease term and thelr useful Ilves. Assets acquired by hire purchase are depreciated over their useful lives. Obligatlons under such agreements are Included In creditors net of the flnance charge allocated to future periods. OPERATING LEASES Rentals payable under operatlng lea5e5 are charged to the Statement of Flnanclal Activitle5 a5 incurred over the term of the lease. FUND ACCOUNTING Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the Association. Restrictions arise when specif1ed by the donor or when funds are raised for particular restricted purposes. Further explanatlon of the nature and purpose of each fund is included in the notes to the financial statements. PENSION COSTS AND OTHER POST-REfiREMENT 8ENEFrrs Contributions to the personal penslon schemes of certaln employees are char8ed to the Statement of Financlal Activities in the period in which they relate. The assets of these personal pension 5cheme5 are held separatelv from th05e of the charitable company in independently administered funds. EMPLOYEE BENEFITS When employee5 have rendered service to the Association, short-term employee benefits to which the employees are entitled are reco8nised at the undiscounted amount expected to be paid in exchange for that 5erviie. The c05t of any unused hcliday entitlement is recognised in the period in which the employee's services are reived. Termination benefits are reco8nised immediately as an expense when the Association is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Page 22 continued...
5T ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- contlnued FINANCIAL INSTRUMENTS The Association has elected to apply the provi51on5 of Section 11 'Ba5ic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial Statements. Financial instruments are recognised in the Association's balance sheet when the Association become5 party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statement5, when there 15 a legally enforceable right to set off the recognised amounts and there is an intention to Settle on a net basis or to realise the asset and settle the liability 5irnultaneous1y. Baslc Ilnanclal assets Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortlsed cost using the effective interest method unless the arrangement constitutes a financing transaction where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Other flnanclal assets Other financial assets are Initlally measured at falr value which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are reco8nised In the income and expenditure account, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost le55 impairment. Trade debtors, loan5 and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables Loan5 and receivables are measured at amortised cost using the effective interest method les5 any impairment. Interest is reco8nised by applyln8 the effective Interest rate, except for short-term receivables when the reco8nition of Interest would be immaterial. The effective interest method is a method of calculatlng the amortised cost of a debt instrument and of allocatin8 the Interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial reco8nition. Impalrment of flnanclal assets Financial assets, other than those held at fair value through income and expenditure, are assessed for indicator5 Of impairment at each reportin8 end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment 1055 15 the differen between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income and expenditure account. If there is a decrease in the impairment loss arising from an event occurrin8 after the impairment was recogni5ed. the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been reco8nised. The impairment reversal 15 recognised in the income and expenditure account. Page 23 continued...
ST ALBANS COMMUNI ASSOCIATION NOTES TO THE FINANCIAL 5TATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- contlnued FINANCIAL INSTRUMENTS Derecognltlon of flnanclal a55etS Financial a55ets are derecogni5ed only when the contractual rights to the cash flows from the asset expire or are settled, or when the A550ciation transfers the financial asset and substantially all of the risks and rewards of ownership to another entity, or if some significant risks and reward5 of ownership are retained but control of the a55et has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Classlflcatlon of flnancial liabllltles Financial liabilitie5 and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidence5 a residual interest in the assets of the Association after deducting all of its liabilities. Basic financlal Ilabllltles Basic financial liabilities, includln8 trade and other payables and bank loans, are initially recognised at transaction price unle55 the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortlsed cost uslng the effectlve Interest rate method. Trade payables are obli8ations to pay for goods and services that have been acquired in the ordinary course of business from supplier5. Accounts payable are classified as current liabilities if payment Is due within one year or less. If not, they are presented as non-current liabilities. Trade payable5 are recogni5ed initially at transaction price and 5ub5equently measured at amortised cost using the effective interest rate method. Other flnanclal liabilitles Oerivative5, including interest rate swaps and forward forelgn exchange contracts, are not basic financial Instrument5. Derivatives are initially retognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Chan8es in the fair value of derivatives are recognised in the income and expenditure account In finance costs or flnance Income as approprlate unless hed8e accountlng Is applled and the hed8e is a cash flow hedge. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement5 entered into. Derecognltlon of financlal Ilabllltles Financial liabilities are derecogni5ed when the Association's contractual obligations expire or are discharged or cancelled. Page 24 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL sfATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 CRICAL AccouiwfiNG JUDGEMENfs AND KEY SOURCES OF E5fiMATION UNCERTAINTY In the application of the Association's accounting policie5, the tru5tee5 are required to make judgements, estimates and assumptions about the carrying amount of asset5 and liabilities that are not readily apparent from other other sources. The estimate5 and underlying assumptions are reviewed on an ongoing ba515. Revision5 to accountin8 estimates are reco8nised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods. DONATION5 AND LEGACIES 2024 2023 Donations 6,653 4,288 OTHER TRADING AcfiviTIES 2024 2023 Room hire charges Catering Pre-school fees Minibus income Care income Other income 33,431 89,235 63.759 29,834 141,402 56A45 51,669 111,546 41.395 23,238 93,718 54,531 414.106 376,097 INVESTMENT INCOME 2024 2023 Bank interest received 10,138 5,712 Page 25 continued..
sr ALBANS COMMUNITY ASSOCIATION NOTES TO ThE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE ACTlVtfiES 2024 Grants reiVable 2023 Total adlvities Grants 1,222,852 80Z,294 Grants received, included in the above, are as follows. Unrestrlcted funds Restrlcted funds 2024 2023 Asda Foundation- Queen's Platinum Jubilee Celebration fund 1,120 Bernard Sunley Foundation - Building Extension fund 60,OC 60,000 Communities in Sync- Sandwell UKSPF Project fund 33,461 33N61 Department for Levelling Up, Housin8 & Communities: Community Ownership Fund- Building Extension fund 300,000 Eve50n Charitable Trust- Strate8y fund 5,O¢J) Eveson Charitable Trust- Minibu5 Salary fund 5,072 5,072 15,216 Eveson Charitable Trust - Building Extension fund 150,C(IO 1S0,IJJO Garfield Weston Foundation - Building Extension fund 15,000 Is.000 Harborne Parish Lands Charity- Minibus Salary fund 845 9,299 Harborne Parish Lands Charity- Activities Co-ordinator fund 2,951 2,951 Heart of England Community Foundation- Utilities fund 1,000 I,(M)O 5,000 Balance carried forward 268,329 268,329 335,635 Pa8e 26 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE AcfiviTIES- contlnued Unrestricted funds Restricted funds 2024 2023 Balance brought forward 268,329 268,329 335,635 Heart of England Community Foundation Building Extension fund loo,000 100.000 Henry Smith Charity- Improvin8 Lives fund 33,900 33,91)0 16,750 Natlonal Lottery Community Fund Minibus Salary fund 4,167 4.167 5,833 National Lottery Community Fund- Cost of Living fund 48,750 48,750 National Lottery Community Fund- Building Extension fund 189,493 189,493 Power to Change- Powering Up fund 8,OC Power to Change- Resilient Communities fund 10,000 Sandwell Communlty Hubs- Volunteer Co-ordlnator fund 28,825 28.825 Sandwell Communlty Information and Participation Service ISCIPSI: Reachln8 Communlties Digicomm Project- General fund 45,315 45315 49,192 Sandwell Community Information and Participation Service ISCIPSI: Broadband and Wi-fi Infrastructure fund 2,646 Balance carried forward 45,315 673,464 718,879 428,056 Page 27 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE AcrivrriES- continued Unrestrlrted funds Restrlcted funds 2024 2023 Balance brought forward 45,315 673,464 718,879 428,056 Sandwell Community Information and Participation Service ISCIPSI: Know Your Neighbourhood fund 22,000 22,000 Sandwell Community Information and Participation Service ISCIPSI Welcomin8 Spaces fund 1,250 1,250 Sandwell Metropolitan Borough Councll: Management and administration General fund 100,025 100,025 100,025 Sandwell Metropolitan Borou8h Council.. Community Offer- General fund 130,667 130,667 140,000 Sandwell Metropolitan Borou8h Councll: Nursery- General fund 155,696 155,696 108,113 Sandwell Metropolitan Borough Council: Hurst Road Community Centre 24,800 Sandwell Metropolitan Borough Council: Di8i-Able Projact fund 4,628 4,628 social Investment Fund - Reach fund 2,800 2,800 The Rowlands Trust- Building Extension fund 25,000 25J)00 The Woltson Foundation- Building Extension fund 60,000 60.000 Balance carried forward 431,703 789,142 1,220,845 800,994 Page 28 continued...
5r ALBANS COMMUNITY ASSOCIATION NOTES TO TrIE FINANCIAL 5TATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE ACTIVITIES- continued Unrestrlcted funds Restrlcted funds 2024 2023 Balante brought forward 431,703 789,142 1,220,845 800,994 Other sundry grants less £I.CKIO in value 2,Crf)7 2,(107 1,3C 433.710 789,142 1.222,852 802,294 OTHER INCOME 2024 2023 Exceptlonal Items 43,850 Exce ional items Durln8 the year ended 31 March 2023 a minibus owned by the Association was Stolen and the Association commenced negotiations with its insurer with regard to an insurance settlement claim concernlng the theft of this vehicle. During the year ended 31 March 2024 the Association received a total of £43,850 from its insurer In settlement concernin8 the theft of this vehicle. CHARITABLE AcfiviTIES COSTS Oirect Costs Isee note 91 Support costslsee note 101 Totals Charitable actlvltles Support costs 749,147 749.147 I87,9 187,009 749.147 187.009 936.156 Page 29 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 DIREcf COSTS OF CHARITABLE AcrivrriES 2024 2023 Stsff costs Minibus expenses Volunteers and staff expenses Toys and equipment Catering expenses Project delivery costs 644,487 22,093 4.416 536 27,401 50,214 516,647 18,296 4,155 2,818 24,590 46,111 749,147 612.617 io. SUPPORT COSTS Governance costs Mana8ement Flnance Other Totals Support costs 119,694 iio 55,139 12,066 187,009 Support costs are those costs that have been Incurred by the charity In order to further the continued development of the charity's charitable activities. Support costs, included in the above. are as follow5: 2024 Support costs 2023 Total activities Rent, rate5 and insurance Maintenance costs Light and heat Telephone Postage and statlonery Staff training expenses Depreciation of tangible and heritage assets IProfitl/loss on sale of tanglble fixed asset5 Bank charge5 Other operating leasés Legal and professional Sundries Wages Social security Pensions Auditor5, remuneratlDn 10,551 38,175 13.598 3,789 1,008 2.483 50,090 12.732 46,574 13.193 1,560 1,199 7.630 48,559 11,756) 56 3,709 28,180 26389 5.137 614 299 5,Z56 iio 3.709 26.367 25,063 5.398 619 349 5,700 187,009 199,331 Page 30 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL sfATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ii. NEf INCOME/(EXPENDITURE) Net income/lexpenditurel is Stated after chargingJlcreditin8): 2024 2023 Auditors, remuneration Depreciation - owned assets Depreciation - assets on hire purchase contract5 and finan leases Other operating leases Surplus on disposal of fixed assets 5,700 49.618 474 3,709 5,256 48,559 3,709 11,7561 12. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. TRUSTEES, EXPENSES During the year ended 31 March 2024 trustees, expenses totalllng £nll 12023., £nll} were paid by the Associatlon. 13. srAFF COSTS 2024 2023 Wage5 and salaries Social security costs Other pension costs 600,976 37,236 12,641 485,493 28,146 9,058 650,853 522,697 The avera8e monthly number of employees during the year was as follows: 2024 2023 Management and administrative staff Support staff 27 23 32 28 No individual employee received emoluments in eXS of £60,(X)O during the year ended 31 March 2024 nor during the year ended 31 March 2023. Page31 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donation5 and legacies 4,288 4,288 Charltable actlvlties Grants receivable 423,430 378,864 802,294 Other tradin8 actlvltles Investment income 376,097 5,712 376,097 5.712 Total 809,527 378,864 1,188.391 EXPENDrruRE ON Charltable artlvltle$ Charitable activitie5 Support costs 564,399 160,641 48,218 38,690 612,617 199,331 Total 725,040 86,908 811,948 NET INCOME 84,487 291,956 376,443 RECONCILIATION OF FUNDS Total funds brought forward 807,373 309,749 1,117,122 TOTAL FUND5 CARRIED FORWARD 891,860 601,705 1,493,565 15. PENSION COMMITMENTS The Association contributes to the individual penslon plans of certaln employees. The assets of these schemes are held separately from those of the Association in independently administered fund5. The total contributlons for the year amounted to £12,641 {2023', £9.0581 and outstanding contributions as at 31 March 2024 amounted to £2,39112023'. £1,208). Page 32 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 16. TANGIBLE FIXED ASSETS Freehold property improvements Lift and soft play area Freehold property cosr At l April 2023 Additions 249,2SO 225.860 658.137 52.599 At 31 March 2024 249,250 883.997 52.599 DEPRECIATION At l April 2023 Char8e for year 2.493 831 149.077 17,729 52,592 At 31 March 2024 3,324 166.806 52,592 NEf BOOK VALUE At 31 March 2024 245,926 717,191 ' At 31 March 2023 246,757 76,783 Furniture, fixtures and fittin85 Motor vehicle5 Totals COST At l April 2023 Additions 251,533 9.850 95,295 76,345 874.537 744,332 At 31 March 2024 261,383 171,640 1,618.869 DEPRECIATION At l April 2023 Char8e for year 202.981 7,709 52,375 23A23 459.S18 50,092 At 31 March 2024 210.690 76,198 509,610 NEf BOOK VALUE At 31 March 2024 50,693 95.442 1.109.259 At 31 March 2023 48,552 42,920 415,019 Freehold property Freehold land Included in freehold property at cost a5 at 31 March 2024 is freehold land of £81,66712023: £81,667) which is not depreciated. Page 33 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 16. TANGIBLE FIXED ASSEfs- contlnued Freehold property Improvements Asset under construction During the year ended 31 March 2024 the Association commenced work on the construction of an extension to it5 freehold property. As at 31 March 2024 the extension to the Association's freehold property continued to be an asset under construction. Consequently, no depreciation has been recognised by the Association in respect of the construction of this extension to its freehold property during the year ended 31 March 2024. The extenslon to the Assoclatlon's freehold property is planned to be completed and made avallable for use during the latter half of the year ended 31 March 2025 at which point the A550ciation will start to recognlse depreclatlon on this extension to its freehold property. Flxed assets held under flnance lease$ The net book value of tangible fixed assets includes £ 13,75212023 NIL) In respect of assets held under hire purchase contract5. 17. STOCKS 2024 2023 Stocks 755 1,970 18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors Prepayments and accrued income 437,845 26,185 372,218 29,951 464,030 402,169 Page 34 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Finance leases (see note 21) Trade creditors Social security and other taxes Other creditors Accruals and deferred income 246 21,148 10.846 13,411 8,716 7,128 52,758 92,616 135,918 82,013 Other credftors Funds held as custodlan for other - Sandwell Dementia Action Alliance The Sandwell Dementia Action Alliance is made up of organi5ations that operate across the borough of Sandwell and are workln8 towards creating dementla friendly communities to improve the lives fo people livin8 Wlth dementla and thelr carers. Durlng the year ended 31 March 2022 St Albans Communlty Assoclatlon recelved £5,000 from the Sandwell Dementia Action Alliance to be held by the Association on behalf of the Sandwell Dementia Action Alliance. During the year ended 31 March 2024 a total of £nil12023: £nill has been expended by Sandwell Dementia Action AllIan from this sum of money, leaving an unexpended balance totalling £5,000 which ha5 been included by the Association within other creditors falling due within one year as at 31 March 2024 12023: £5,0001). Accruals and deferred Income eferred income Included within accruals and deferred Income falling due within one year as at 31 March 2024 is grant income received in advance by the Association totallin8 £9,99412023: £45,963). CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Flnance leases (see note 211 10,195 21. LEASING AGREEMEMrs Minimum lease payments under finance leases fall due as follows: Flnance leases 2024 2023 Net obli8ations repayable: Within one year Between one and five years 2,846 10.195 13WI Page 35 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 22. MOVEMENT IN FUNDS Net movement in funds Transfer5 between funds At 31.3.24 At 1.4.23 Unrestrlcted funds General fund Designated - Capital Reserve fund Designated - Property Maintenance fund Designated- Redundancy fund Desi8nated- Roof Replacement fund DesiRnated - BuildinR Extension fund Desl8nated - Bulldin8 Refurbishment fund Deslgnated Mlnlbus fund 505,117 30,000 30.000 41,743 60,000 150,000 35.0(WJ 40,0 200,281 169.990} 635.408 30,000 30,000 41.743 60,000 220.000 35,000 40,000 70,000 891,860 200,281 io 1,092,151 Restrlrted funds Buy the Buildlng fund All About Food fund Capital Grant Programme for 2 Year Olds fund Minibus fund All Together fund Older People Day Trlps fund Building Extension fund Powerin8 Up fund Resilient Cornmunities fund Welcoming Spaces fund 246,757 (831) 245,926 iio) 20,700 14.277 4.261 2,500 300,000 3,ZOO 10,000 15,4001 (13.2921 16081 15,300 985 3.653 2,500 899,493 599,493 (3,200) {io,000) (5,000) {5,000) 601,705 561,162 iio) 1.162,857 TOTAL FUND5 1.493,565 761,443 2,255,008 Page 36 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 22. MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows- Incoming resources Resources expended Movement in funds Unrestrlrted funds General fund 907,146 I70665) 200,281 Restrlcted funds Buy the Buildln8 fund Volunteer Co-ordinator fund Capltal Grant Pro8ramme for 2 Year Olds fund Minlbus fund All Together fund Building Extension fund Minibus Salary fund Utilities fund Improving Lives fund Powering Up fund Resilient Communities fund Di8i-Able Project fund Social Investment Business - Reach fund Sandwell UKSPF Project fund Cost of Living fund Activlty Co-ordionator fund Know Your Nei8hbourhood fund Welcomin8 Spaces fund 1831) 2825 (2825) (5.400) 114,603) 1608) (5,400) (13,292) (6081 599,493 1,311 599,493 10,084 1,000 33,900 (10,084) 11,0001 (33.9001 13,2001 (10,0001 (4,6281 (200) 133,461) {48,750) (2,951) (22,000) 16,250) (3,200) (10,000) 4,628 2.800 33,461 48,750 2,951 22.000 1,250 (5,0001 790.453 1229.2911 561,162 TOTAL FUNDS 1,697,599 1936,156) 761.443 Page 37 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 22. MOVEMENT IN FUNDS- continued Comparatives for movement In funds Net movement in funds Transfers between funds At 31.3.23 At 1.4.22 Unrestrlcted funds General fund De518nated - Capital Reserve fund Designated- Property Maintenance fund Designated- Redundancy fund Designated - Roof Replacement fund Designated - Building Extension fund Designated Building Refurblshment fund Designated Mlnlbus fund 328,338 So,03 30,CK)O 34.035 1S0,(K)O 30,000 70,000 115,000 84,487 92,292 120,0001 505,117 30.000 30,0(K) 41,743 60,(K)O 150,(100 35,000 40,000 7,708 190,0001 120,000 135,0001 175,0001 807,373 84,487 891,860 Restrl¢ted funds Buy the Bullding fund All About Food fund Capital Grant Programme for 2 Year Olds fund Minibu5 fund All Together fund Older People Day Trips fund Building Extension fund Powerin8 Up fund Resilient Communlties fund 247,588 139 18311 11291 246,757 io 26,100 28,553 4,869 2,500 15,4001 114,2761 16081 20.700 14,277 4,261 2,SChJ 300,000 3,200 iO,OCM) 300,000 3,200 ID,000 309,749 291,956 601,705 TOTAL FUNDS 1,117,122 376,443 1,493,565 Page 38 continued.
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 22. MOVEMEMf IN FUNDS- contlnued Comparatlve net movement in funds. included in the above are a5 follows: Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 809,527 1725,040) 84,487 Restrlrted fvnds Buy the Building fund All About Food fund Capital Grant Programme for 2 Year Olds fund Minibus fund AII Together fund Queen's Platinum Jubilee Celebratlon fund Buildin8 Extension fund Minlbus Salary fund Strate8y fund Utilltles fund Improvin8 Lives fund Powering Up fund Resilient Communities fund Broadband and Wi-fi Infrastructure fund {8311 {1291 {8311 (1291 {5,4001 114,2761 16081 11,1201 {5,4001 114,2761 16081 1.120 300.000 30,348 5,000 5,000 16,750 8,000 10,000 2,646 300,OCK) 130,3481 15,0001 15,0001 {16,750) 14,800) 3,2¢y) 10,000 12,6461 378,864 186,9081 291,956 TOTAL FUNDS 1,188,391 1811,9481 376,443 Page 39 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 22. MOVEMENT IN FUNDS- contlnued A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds Transfers between funds At 31.3.24 At 1.4.22 Unrestricted funds General fund Designated - Capital Reserve fund Designated- Property Maintenance fund Desi8nated- Redundancy fund Designated- Roof Replacement fund Designated - Buildin8 Extension fund Desi8nated - Building Refurbishment fund Desi8nated - Minibus fund 328.338 50.000 30,000 34,035 150.000 30,0(M) 70,000 115,000 284,768 22,302 120,0001 635,408 30,000 30,000 41,743 6.0,000 220,000 35,(M)O 40,000 7,708 190,0001 190,000 135,0001 175,000} 807,373 284,768 io 1,092,151 Restrlcted funds Buy the Bulldlng fund All About Food fund Capital Grant Programme for 2 Year Olds fund Minibus fund All Together fund Older People Day Trips fund Building Extension fund Welcoming Spaces fund 247,588 139 11,6621 {1291 245,926 iioi 26,100 28,553 4,869 2,500 110,8001 127,5681 11,2161 15.300 985 3,653 2,5(Xl 899,493 15,000) 899,493 {5,0001 309,749 853,118 iioi 1,162,857 TOTAL FUN05 1,117,122 1,137.886 2,255,008 Page 40 continued...
ST ALBANS COMMUNITY A550CIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 22. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 1,716,673 11,431,905) 284,768 Restrfcted funds Buy the Buildin8 fund All About Food fund Volunteer Co-ordinator fund Capital Grant Programme for 2 Year Olds fund Minibus fund All Together fund Queen's Platinum Jubilee Celebration fund Building Extension fund Minibus Salary fund Strate8y fund utilities fund Improving Lives fund Powerln8 Up fund Resilient Communitie5 fund Broadband and Wi-fi Infrastructure fund Digi-Able Project fund Social Investment Busine55- Reach fund Sandwell UKSPF Project fund Cost of Living fund Activlty Co-ordionator fund Know Your Neighbourhood fund Welcoming Spaces fund {1,6621 11291 128,8251 (1,6621 11291 28,825 110,8CQI {28,8791 11,2161 11,120) {10,8¢)01 127,5681 11,2161 1,311 1,120 899,493 40,432 5,(M)O 6,000 50,650 8,000 10,000 2,646 4,628 2,800 33,461 48,750 2,951 22.000 1,250 899,493 140,4321 . {5,0001 {6,0001 150.6501 18,LK)01 iio,0001 12,6461 14,628) I2,8Cl 133,4611 148,7501 {2,9511 122,IXJOI 16,2501 15,0001 1,169,317 1316,1991 853,118 TOTAL FUNDS 2,885,990 11,748,104) 1,137,886 Purpose of Unrestrlcted Funds General fund This fund represents the free funds of the charity that are not designated for particular purposes. Purpose of Deslgnated Funds Capital Reserve fund This fund represents an amount set aside as a contingency to cover the costs of any largelunexpected capital expenditure Pro erty Maintenance fund This fund represent an amount set aside as a contingency to cover the costs of any major repairs or improvements required at the Association's premises. Page 41 ontinued..
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 22. MOVEMENT IN FUNDS- contlnued Redundan fund This designated fund represents the approximate costs of redundancy if the Association, for whatever reason, is unable to continue operatin8. Roof re lacement fun This fund represents an amount set aside to cover the potenti31 c05ts of replacing the roof of the Association's premises. Buildin Extension fund This fund represents an amount set aside as a contrlbution towards the planned extenslon of the Association's premises In order to enhance the Association's service provislon. Buildln - Re_furb_ishment fund Thi5 fund represents an amount set aside to upgrade and update capital items at the Assoclatlon's premlses such as computer5. desks, telephone5 and photocopiers which are planned to be located in rooms in the Association'5 planned buildlng extenslon. Minibu5 fun This fund represents an amount Set aslde a5 to cover the cost of any potentlal purchase of minibuses which the Association might undertake. Purpose of Restrlrted Funds Bu the Buildin fund runding obt8lned by the Association to enable the A550ciation to e5tabli5h a fund to buy the A550ciation's premise5. All About Food fund Funding received by the Assoclation from the 818 Lottery Fund's Awards for All programme to enable the Association to upgrade kitchen equipment. This fund was fully expended as at 31 March 2024. Ca ital Grant Pro ramme for 2 Years Olds fund Funding obtained by the Association to enable the Assoclatlon to refurblsh and improve the As50Ciation's pre-school setting to enable it to expand its provision for 2 year old children. Minibus fund Funding obtaingd by the Assoclatlon to enable the Association to purchase a minibus, All To ether fund Funding obtained by the Association to enable the Association to purch35e easy chairs for day care clients and to help finance training for staff who are 5UPPQrting people living with dementia. Ol_der People Da Funding obtained by the Association to enable the A55ociation to provide day trip5 for older people. Queen's Platinum Jubilee Celebratlon fund Fundin8 obtained by the Association to enable the A550ciation to host an event in June 2022 to celebrate the Queen's Platinum Jubilee. This fund was fully expended as at 31 March 2023. Page 42 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENT5- contlnued FOR THE YEAR ENDED 31 MARCH 2024 22. MOVEMENT IN FUNDS- contlnued BulldinLExtension fund Funding obtained by the Assoclatlon to enable the A55ociation to fund the reconfiguration. renovation and extension of the Association's premises. Minibus Sala fun Funding obtained by the Association to help fund the salary of a minibus driver employed by the Association. This fund wa5 fully expended as at 31 March 2024. tratefUnd Funding obtalned by the Association to help finance a review of the Association's fundralsin8 Strate8y. This fund was fully expended as at 31 March 2023. Utilities fund Fundin8 obtained by the Assoclatlon to help flnance the Association's lightin8 aDd heatin8 expenses. Thls fund was fully expended as at 31 March 2024. Fundin8 obtained by the Association to help fund the salary of an advice worker employed by the Assoclatlon. Funding obtained by the A550ciation to help finance the development of the Association's database software. This fund was fully expended as at 31 March 2024. Resilient Communities fund Fundin8 obtalned by the Assoclatlon to help finance energy efficiency improvements at the Assoclatlon's premlses. This fund was fully expended as at 31 March 2024. Broadband and Wi-fi Infrastructure fund Fundin8 obtained by the Association to help finance the improvement of the provision of broadband and wi-fi Servi5 at the Association'5 premises. This fund was fully expended as at 31 March 2023. Volunteer Co-ordinator fund Funding obtained by the Asso¢iation to provide a volunteer programme which offers opportunities for local people with a view to improving skills and confidence, increase employment opportunities and also encourage people to contribute to their local community. This fund wa5 fully expended as at 31 March 2024. i-Able Pro'ect fund Funding obtained by the Association to help residents in Sandwell gain experience with online services. This fund was fully expended as at 31 March 2024. Page 43 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 22. MOVEMENT IN FUN05- continued Sandwell UKSPF Pro ect A New Start fund Funding obtained by the Association to hep enable soclally isolated residents in Sandwell by providing volunteer opportunities. Cost of LivinLfund Funding obtained by the Association to help tontinue and also expand the Association's current level of services to help meet increasing levels of demand. This fund was fully expended as at 31 March 2024. Fundin8 obtained by the Association to establlsh the post of an actlvltles co-ordlnator. rNei fun Funding obtained by the As50clation to establish the post of a volunteer co-ordinator in order to expand the Di8i-Comm programme into new communlty and residentlal settings. Thi5 fund was fully expended as at 31 March 2024. Funding obtained by the Asscciation to enable residents in Sandwell to engage with the Internet In order to enRaRe with local services and the wider community including family and friends. TRANSFERS BETWEEN FUNDS Transfers between funds as at 31 March 2024 represent movements between the Association's General fund and the Association's designated funds and movements between the A550Clation'5 General fund and certain individual restricted funds. CAPITAL COMMITMENT5 2024 2023 Contracted but not provlded for In the financlal statements 70,365 24. RELATED PARTY DISCLOSURES Care Compllance Consultancy Llmlted R D Darlin8ton, a trustee of the Association, also serves as a director of Care Compliance Consultancy Limited, a company registered in En8land and Wales (company number 073472071. Durin8 the year ended 31 Mai'ch 2024 St Albans Community Association purGha5ed goods and services totalling Enil12023'. £10,200) from Care Compliance Consultancy Limited. As at 31 March 2024 St Albans Community Association owed £nil12023: £nill to Care Compliance Consultancy limited. The Dorothy Parke5 Centre R Bruce, a trustee of the A550Ci3tion, also Serves as a member of senior management at The Dorothy Parkes Centre, a charity incorporated in England and Wales Icompany number 04088772, charity number 10931891. Page 44 continued...
ST ALBANS COMMUNITY A550CIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 24. RELATED PARTY DISCLOSURES- continued During the year ended 31 March 2024 St Albans Community Assotiation purchased services totalling £49,903 {2023: £44,751) from The Dorothy Parkes Centre. As at 31 March 2024 St Albans Community Association owed £12,134 12023: £259) to The Dorothy Parkes Centre. Sandwell Communlty Hubs R Brute. 3 trustee of the Association, and T Flannagan, the Association's chief executive officer, also serve as trustees of Sandwell Community Hubs, a charitable incorporated organisation registered in England and Wales (charity number 11695271. During the year ended 31 March 2024 the Association provided services totalling £nil12023: £nlll to Sandwell Communlty Hubs. As at 31 March 2024 Sandwell Communlty Hubs owed £nll12023.' £nill to St Albans Community Association. aseofs During the year ended 31 March 2024 the Association purchased services totallin8 £nil {2023: £4,633) from Sandwell Community Hubs. As at 31 March 2024 St Albans Community Association owed £nil12023'. £nill to Sandwell Community Hubs. Fundin£ receivLd f During the year ended 31 March 2024 the Association received grant income totalling £28,OJO12023'. £nlll from Sandwell Community Hubs which has been allocated to the Association's Volunteer Co-ordinator restricted fund. Sandwell Communlty Informatlon and Partlclpatlon Serv1 {5CIPSI A M Docker, who was appointed a trustee of the Association on 23 July 2023, also serves as a trustee of Sandwell Community and Information and Participation Servite ISCIPSI, a charity incorporated in En8land and Wales {company number 03071683, charity number 10977021. Fundln received from SCIPS Durin8 the period 23 July 2023 to 31 March 2024 the Association received the followlng 8rant Income from scips. lal Dlgicomm Project Ibl Know Your Nei8hbourhood restricted fund Icl Welcoming Spaces restricted fund 31,200 15,147 1,250 47,597 Page 45 continued...
ST ALBANS COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL 5TATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 OPERATING LEASE COMMITMENTS At 31 March 2024 the Association had outstanding commitments for future mlnimum lease payments under nOn-nlIable operating leases which fall due as follows. 2024 2023 Within one year Between two and five year5 In more than five years 3,709 3,709 618 3.709 4,327 ULTIMATE CONTROLLING PARTY The charlty Is controlled by the trustees as Ilsted in the Report of the Trustees, Pa8e 46