Company registration number: 06862795
Sydenham Community Association Company limited by guarantee
Unaudited financial statements
31 March 2024
Sydenham Community Association Company limited by guarantee
Contents
| Page | |
|---|---|
| Directors and other information | 1 |
| Directors report | 2 |
| Accountants report | 3 |
| Statement of comprehensive income | 4 |
| Statement of financial position | 5 - 6 |
| Statement of changes in equity | 7 |
| Notes to the financial statements | 8 - 10 |
Sydenham Community Association Company limited by guarantee
Directors and other information
| Directors | Mr Michael Cresswell |
|---|---|
| Mr Graham Granter | |
| Mr David Peter Loverridge | |
| Mrs Christina Martin | |
| Mr Peter Martin | |
| Mr James Munn | |
| Mr Timothy Payton | |
| Mrs Ann Trunks | |
| Company number | 06862795 |
| Registered office | Sydenham Community Centre |
| Parkway | |
| Bridgwater | |
| Somerset | |
| TA6 4QZ | |
| Accountants | Michael J Dodden & Co. |
| 34 North Street | |
| Bridgwater | |
| Somerset | |
| TA6 3YD |
Sydenham Community Association Company limited by guarantee
Directors report Year ended 31 March 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2024.
Directors
The directors who served the company during the year were as follows:
Mr Michael Cresswell Mr Graham Granter Mr David Peter Loverridge Mrs Christina Martin Mr Peter Martin Mr James Munn Mr Timothy Payton Mrs Ann Trunks
The company is a non-profit making orgasnisation established to deal withe the commom costs of maintenance and general running expenses of Sydenham Community Centre, Parkway, Bridgwater, Somerset.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 27 June 2024 and signed on behalf of the board by:
Mrs Christina Martin Director
Sydenham Community Association Company limited by guarantee
Report to the board of directors on the preparation of the unaudited statutory financial statements of Sydenham Community Association Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sydenham Community Association for the year ended 31 March 2024 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Sydenham Community Association, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Sydenham Community Association and state those matters that we have agreed to state to the board of directors of Sydenham Community Association as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sydenham Community Association and its board of directors as a body for our work or for this report.
It is your duty to ensure that Sydenham Community Association has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sydenham Community Association. You consider that Sydenham Community Association is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Sydenham Community Association. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Michael J Dodden & Co. Chartered Accountants
34 North Street Bridgwater Somerset TA6 3YD
Sydenham Community Association Company limited by guarantee
Statement of comprehensive income Year ended 31 March 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | ||
| Turnover | 5 | 58,203 | 58,466 | |
| Cost of sales | - | - | ||
| Administrative expenses | ) (69,631 |
(62,438 | ) | |
| Operating loss | ) (11,428 |
(3,972 | ) | |
| Loss before taxation | ) (11,428 |
(3,972 | ) | |
| Tax on loss | - | - | ||
| Loss for the financial year and total | ||||
| comprehensive income | ) (11,428 |
(3,972 | ) |
All the activities of the company are from continuing operations.
The notes on pages 8 to 10 form part of these financial statements.
Sydenham Community Association Company limited by guarantee
Statement of financial position 31 March 2024
| Note Current assets Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets Total assets less current liabilities Net assets Capital and reserves Sinking Fund Profit and loss account Members funds |
2024 £ 86,773 86,773 ) (2,250 |
£ 84,523 84,523 84,523 10,000 74,523 84,523 |
2023 £ 97,846 97,846 ) (1,895 |
£ 95,951 |
|---|---|---|---|---|
| 95,951 | ||||
| 95,951 | ||||
| 10,000 85,951 |
||||
| 95,951 |
The notes on pages 8 to 10 form part of these financial statements.
Sydenham Community Association Company limited by guarantee
Statement of financial position (continued) 31 March 2024
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 27 June 2024, and are signed on behalf of the board by:
Mrs Christina Martin
Director
Company registration number: 06862795
The notes on pages 8 to 10 form part of these financial statements.
Sydenham Community Association Company limited by guarantee
Statement of changes in equity Year ended 31 March 2024
| At 1 April 2022 Loss for the year Total comprehensive income for the year At 31 March 2023 and 1 April 2023 Loss for the year Total comprehensive income for the year At 31 March 2024 |
Sinking Fund Profit and loss account £ £ 10,000 89,923 ) (3,972 - ) (3,972 10,000 85,951 ) (11,428 - ) (11,428 10,000 74,523 |
Total £ 99,923 ) (3,972 ) (3,972 95,951 ) (11,428 ) (11,428 84,523 |
|---|---|---|
Sydenham Community Association Company limited by guarantee
Notes to the financial statements Year ended 31 March 2024
1. General information
The company is a private company limited by guarantee, registered in United Kingdom. The address of the registered office is Sydenham Community Association, Sydenham Community Centre, Parkway, Bridgwater, Somerset, TA6 4QZ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Sydenham Community Association Company limited by guarantee
Notes to the financial statements (continued) Year ended 31 March 2024
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The company is limited by guarntee.
Sydenham Community Association Company limited by guarantee
Notes to the financial statements (continued) Year ended 31 March 2024
5. Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
Turnover represents income generated in respect of the clubs normal activities
6. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2).
7. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Other creditors | 2,250 | 1,895 |
Sydenham Community Association Company limited by guarantee
The following pages do not form part of the statutory accounts.
Sydenham Community Association Company limited by guarantee
Detailed income statement Year ended 31 March 2024
| Turnover Rent of Bar Hire of Hall Clubs and Activities Bingo Gaming Machines Membership Donations Grants Bank Interest Gross profit Gross profit percentage Overheads Administrative expenses Operating loss Operating loss percentage Loss before taxation |
2024 £ 10,200 10,588 5,192 - 7,645 3,019 1,339 20,000 220 58,203 58,203 % 100.0 69,631 69,631 ) (11,428 % 19.6 ) (11,428 |
2023 £ 10,400 11,428 5,220 1,155 7,145 3,056 - 20,000 62 58,466 58,466 % 100.0 62,438 62,438 ) (3,972 % 6.8 ) (3,972 |
|---|---|---|
Sydenham Community Association Company limited by guarantee
Detailed income statement (continued) Year ended 31 March 2024
| Overheads Administrative expenses Wages Rent and Water Insurance Light and heat Cleaning and Laundry Repairs and maintenance Printing, Stationery and Advertising Telephone and Internet Charges Equipment Accountancy Charges Sundry expenses |
2024 £ 34,976 1,941 554 23,312 1,572 1,087 751 626 529 1,320 2,963 69,631 |
2023 £ 29,764 1,381 605 23,232 1,438 1,799 267 621 - 1,233 2,098 |
|---|---|---|
| 62,438 |