COMPANY REGISTRATION NUMBER: 06623919 CHAR Thy REGISTRATION NUMBER: 1129476 Freshford & Limpley Stoke Community Association Company Limited by Guarantee Unaudited Financial Statements 30 June 2023 HARLT AKER LIMITED Chartered accountants 7-7c Snuff Street Devizes Wiltshire England SN10 1DU
Freshford & Limpley Stoke Community Association Company Limited by Guarantee Financial Stslements Year ended 30 June 2023 Page Trustees. annual report (incorporating the director's report) Independenl examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Noles to the financial stalements The followlng pages do nol form part of the flnancial statemenls Detailed statement of financial activities 15
Freshford & Limpley Stoke Comrnunity Association Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 30 June 2023 The trustees, who are also the directors lor the purposes ol company law, present their report and the unaudited financial statements ol the charity lor the year ended 30 June 2023. Refgrence 8nd admlnlstrative details Reglstered ¢horlty name Freshford & LimFAey Sloke Communrty As5(Kiation Charlty registration number 1129476 Company reglstratlon number 623919 Principal offlce and registor8d The Gajleries Shop aTrJ Cafe oftlce Fre5hlord Lane Freshlord Lane Bath BA2 7UR Tha trustees S H J Coombe Ichwrman of FLISCA and Chaimian of the Galler$ Management Groupl Mr D M FinlaOn (Treasurer) (Winted I l July 20221 C M Biebuyck (Treasurer) (Resigned 11 July 20221 P A Firmin L NevAyn Isecretary) P J Dawson J Hawker (Representing Freshford Parish Council) N Bolton Iflepresenti rneY Stoke Parish Cour41) GCBate Ms E J EeS Isecretaryl (Resigned 1 June 20231 IResJgned 1 June 20231 IAr4)rynted 1 June 20231 Company se¢retsry L Ee$ Independont axamlner Charlion Baker Limiled 7-7c Snuff Street Devizes Wiltshir8 EnglarKJ SN1010U
Freshford & Limpley Stoke Community Association Company Llmlled by Guaraniee Trustees, Annual Report (Incorporating the Director's Report) Year ended 30 June 2023 Structure, govemance and management The charity is controlled by its goveming documenl. the memoraNlum and articles ol association. arKI constitutes a limited company, limited by guarantee. as defined by the Companies Act 2006. The company was registered as a charrty on 7th May 2009. 11 ig a membeiship organisation to residents of Freshlord and knmpley Stoke. The Irusteesl directors are elected at the Annual Gener MeelirKJ of the members and meet approximately four times a year. Obledlves and activities The objectNes and actmties ol Freshfor<l & LimrAey Stoke Cornmunty Ass¢xiation IFLISCAI are set out in its goveming document, the memorandum and articles ol association. The compan$ purpose is to make donations lor ¢harÉtable purwses in the Parishes ol Freshlord and Limpley Stoke out ol income it reGeives from rts investments. Currentty. this investment lies solely in Galleries Limtted in which FLISCA has a 1 sharehokling. Galieri&s Limited operates a wllage shop and cafél deli serving both parishes. The trusteesldirectors have full regard to the Charty Commissioners. public rtefIt gu*Jance, and are satisfied that the chartvs investment in Galleries Limtted follows that guidance and is a proper investment to meet the purtK)ses ol the Irn. Slrateglc report The following sections for achievements perfom)ance and review fomi the strategic report ol the charty.
Freshford & Limpley Stoke Community Association Company Limited by Guarantee Trustees. Annual Report (Incorporaiing the Director's Report) (eonlinual) Year ended 30 June 2023 Achievements and pertorniance Galleries Shop and Café 2022123 has been the year of the Café exlension which has had a big impact on the financial result of the Galleries. Atthough valiant efforts were made to keep disruption lo a minimum. relocating tables outside to the marquee impacted on the Café revenues in ihe h&f of the year. Things picked up once the Café extension was lully opened in the spring. The losses were largely clawed back by dint ol a lot of dets1 b%Y)rk by the Marweis arKI backed up by the Gdleries Management Group. Whilst revenues in the shop hekl up, the irKrease in Ihe cost of suFplies meant that a substantial loss was made up until Chrislmas. 11 is also worth nottng that revenues dkl not keep up th fo¢xl inllation. With cost increases being applied to èvery invoice received. a lot ol effort was also put into ma4ntaining margins. The wgilance of the rnanagers and volunteers in monrtoring the margins was key to the better performance in the second half ol the year. 11 is expected that inflation wll continue to LE hh during the 2023124 financial year. However wth a lol of new inilialives Ing put in place, we are more optimistic thal the business will continue lo slabilise and continue to provide donations lo FLiSCA. In ttsm. these wrll be used lo support the loc communty. In the current year the amourrt recewed from FknSCA's investment in Galleries Limiled was: Renl £6,420 Grants awarded The following grants were avrdrded to communty groups in Freshlord and knmpley Stoke during 2022- 23.. 2023 Freshlord & Limpley Stoke Home Energy Group IFLHEG} - start up funds Freshlord Village Memorial Hall- flag manufacttjre Peter King delibrillalor pads Galleries Ltd - extension fumiture Jean Hawker lor Freshfor(J res¥Jent in need Freshford Church - servery equipment Freshford School PTA - rAaygrOUr equipfflenl Galleries Ltd - raised Vegae beds 200 117 167 3,568 150 250 100 1,670 Since inception, the charity has given out just over £75.000 Fn grants across a w*Je range of communty groijps and facilities. The Trustees are carelul to avohj any element of a grant to Gleries Ltd being derived from a previous donation by Galleries Lld lo the charity- Therefore the Extension Furniture furKls were derived from a specific appeal. and the Raise(I vegetale Beds were lor out of a donation by an irKlividual.
Freshford & Umpley Stoke Communlty Association Company Umited by Guararrtee Trustees. Annual Report (lting the Dlrectorfs Report) (contA) Year ended 30 June 2023 h w&% agreed that no t)nation from Gatteries shoukl exFeknY fr(Nn 2022r23 lI¥tIeS. and rKy was made frDrn the 2021r22 year. In fact. Galeries ha5 dbcated £ £1,613 froTn 2022123 to be pd in March 2024. GNen the fin3tN cost ol Irving cr1$. the Trustees re calrtious about grants Actwity was dominated by the irNestments made w+ the Gaueries Ethrtsh)n, and $0 in Solar Volk Panels on Ihs roof to ¢(ynpfement the eincIty suwAi&l ty Fresmord arKI Limpley St(A(e Energy Community Shares knmim. These 10 £6B.728 for the Extension and £24,8 lor Ihe Solar Pands. Tho 0tIva vras to Trrease Gallgries, through extra Sp tor café. and to cush)n GlerIeS against substaniial eleuw prt inueasgs dLtè when coming out of conlract on 1 Octobèr 2023. Tts Extension was constnjcted as a se11-tIk1 $FrO vc4unleer kt¥)ur ar¥J t(Jught in tra(IEs. Plant a1 mats11$ prwred dr•. eXterlon has trAen valued at £167,(KN). The costs We met from (knations. arrtafs aTrJ grarts amoufttir to £1 10,101. of whh £25,000 was provbjgd from FSCA reserves. As of the 30th Ju. £10,951 was unspent. of whth £4.233 was tdgeted to cotion. leaV[r £6.718 towards a of whh was deferred Ioftlce and sto). Small ¢offlpwry provlslons This r&port has FY8pared in v*th th8 wtyisions aFpl¢abSe to Cornpan titI¢d to the small cornpanw exemptK)n. The trudees. annual rewrt arml the slratew rwt wore OKvoved on ................. .......... on behatr ol the rd of tsustses tty: stgr S H J Cwmbg Ichwrman ol FknSCA a$ Ghairrnan of Ihe Galleries Management GroLP) TILtee
Freshford & Limpley Stoke Community Association Company Llmited by Guarantee Independent Examiner's Report to the Truslees of Freshford & Limpley Stoke Community Association Year ended 30 June 2023 I report to the trustees on my examination of the finala1 statements ol Freshlord & Limpley Stoke Cofflmunty Association llhe charttyl for the year enoed 30 June 20¥3. Responsibilities and basls of report As the trustees of the company lar also its directors for the purposes ol company lawl you are responsible for the preparatson ol Ihe financial statements in aw)rdance Vth the requirements of the Companies Act 2006 Ilhe 2006 Act'l. Having satisfied myself that the accounts of the company are not required to be audtted under Part 16 of the 2006 Act and are eligible lor independeni examination. I report in respect of my examination ol the charity's accounts as carried out under sech.on 145 of the Charities Act 2011 I'lhe 2011 Act'l. In carrwng out my examination I have followed the Directions given by the Gharity Commission 4Jrxlei section 14515llbl of the 2011 Act. Indep•ndènt examinerfs statement I have com etj my examinakn"on. I confimi that matters have come to my attents'on in connection with the examination giving me cause to believe.. accounting records were nol kept in respect ol the charity as r8quired by section 386 of the 2006 Act., or the financi stat&ments do not e0rd ¥Ath those record$'. or the financial statements do not comply with the accounh.ng requirements ol section 396 of the 2006 Act other than any requirement that the accounts give a Irue and fairf view which is not a matter considered as part of an irnlependent examination,. 01 the financi statements have r¥)1 been Prepared in actx)rdance with IhÈ metFh)dg and principles of the Statement ol Recommended Practice lor accounting and porting by charities applIc*e lo chamie5 preparing their accounts in accordance wrth the Financial Reporting Standard awicable in the UK arKI Republic ol Ireland IFRS 1021. I have no concerns and have come across no other matters in ¢x)nnection thè examination to which attention Shou b8 drawn in this rekK)rt in order to enable a proper understanding of the accounts lo be reached. Chartton Baker Limtted Independent Examiner 7-7¢ Snutt Street Devizes Wittshire England SNIO 1DU
Freshford & Limpley Stoke Community Association Company Limited by Guarantee Statemenl of Financlal Activities (including income and expenditure account) Year ended 30 June 2023 2022 Unre5trKted Jnds Restricie(J fuThJs Total funds Total funds Note Income and endowments Donations and legacies Investment income 4,613 7.477 12,090 74.544 79,157 7,4TT 15,010 6,701 Totsl Income 74,544 86,634 21,711 Expenditure Expenditure on charitable actsvil]es Cxher expendittj Total expendityre 2,288 7,121 6,275 1,000 8,563 8.121 13,622 6,829 9.409 7,275 16,684 20,451 Net Income 2.681 67.269 69.950 1.260 Other recognised galns and losses Gains from revaluation ol fixed assets 98.271 98,271 Net movemenl Sn funds 2,681 165.540 168,221 1,260 Aeconciliatlon of funds Total funds brought forward Total furKls Garrled forward 58,123 276,179 441.719 334,302 333,042 334.302 60.804 502.523 The statement ol financial activities includes all gains ar losses rniSed in the year. All income and expenditure derive from ntinUIng activibes. The notes on pages 9 tt1 13 lomi part of these Ilnanci•l ststements.
Freshlord & Limpley Stoke Community Assoclatlon Company Limited by Guarantee siaiement ol Financial Position 30 June 2023 2022 Note Flxed assets Tangible fixed assets 453,160 267,300 Current assets Debtors Cash at bank arKI in harKJ 12,827 37,036 170 67,267 49,863 67,437 Credltor$: amounts lalllng due within year Net current a8sets 10 500 435 49.363 67,002 Total assets less current Ilabllllies 502,523 334,302 Net assots 502,523 334,302 Funds of the charlly Restri¢led income funds.. Revalualion reserve Other restrict&4 income funds Unrestricted funds 98,271 343,448 60,804 276,179 58,123 334.302 Total charlty funds 11 502.523 For the year endirbg 30 June 2023 the chaitty was entit to exemption from audit under section 477 of the Companies Act 2006 relating to smaEI companies. Directors. responsibilitie5- The members have not required the cornpany to obtain an audit of its finala1 statements lor the year in question in accordance with section 476., The directors a¢knoedge their responsibilities for comKAwThJ with the requirements of the Act with respect lo aceounting records and the preparion ol financial statements. These financial statements have been prepared in accordance wtth ihe provisions aFpJrable to companies subject to the small companies. regime. The statement of financial position continues on the following page. Thg notes on pages 9 to 13 tomi part ol thes• financial slaiennts.
Freshford & Limpley Stoke Community Association Company Limited by Guarantee Statsment of FinancSal Position (wJllnu0LI} 30 June 2023 These financial statements were approved by the toard of irustees aThJ aulhorised for issue on ..1.T..O.ct ?.Q23 , and are signed on beham of the board by: S H J COOM (Chaimian of FknSCA and Chwmian of the Galleries Manag8ment Group) Trustee The notes on pages 9 to 13 form part ol th8$¢ Ilnanclal sM•ments.
Freshford & Limpley Stoke Community Association Company Llmlted by Guarantee Notes to the Financial Statements Year ended 30 June 2023 General Information The charity is a public ben&fiL entity a privatè company limited by guarafflee, registered in England arKJ Wales and a regi51ered charrty in England aThY Wales. ststement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicatAe in the UK and the ReputJic ol IrelarKI', the Stalemern of Recommended Practice applicable lo charilies preparing their accounts in accordance wrth the Financial Reporting &andard apICable in the UK and Repubjic of Ireland IFRS 1021 (Charrties SORP IFFIS 10211 and the Companies Act 2006. Accounting poli¢i8s Basis of preparation The financial statemerrts have been Prepared ortr the historical cost basi5. The investment property is rented to another group entity and is measured by reference to cost rather than fair value. The property is deprectat&J on a straight-line basis 012 per cent p.a. The financial statements are Prepared in slerting. which is the function currency of the entity. Going concem There are no material unrtaine$ atKJUt the chartiys abilty to ntinUe. Fund accounting Unreslricte(£ funds are aVlable for use at Ihe discretion of the Iruslees lo further any of Ihe charitys purposes. Designated funds are unrestricted funds eamiarked by the trustees for particular future project or commitment. Restrtcled funds are subjected to restrictions on their expeIllUre (ledared by the donor or through the terms of an ap1, arKI latl into one of tsvo sub-classes.. restricted income funds or endowment funds. Incomlng resources All income is included in the stalemeni of financial activities when entitlement has passed lo the charty, it is probable that the economic benelits associated th the transaction wll flow lo the charty and the amount can feliably measured.
Freshford & Limpley Stoke Community Association Company Llmited by Guarantee Notes to the Financial Statements (eoftiimed) Year ended 30 June 2023 Accountlng policie$ (w1nO) R•sources expended Expenditure is recognised on an accruds basis as a liabilty is incurred. Expenditure includes any VAT which cannot be lully recovered, is classilie(l yr headings ol the slatemenl of financial activtties lo which it relates.. expeThYiture on rSing hjnds irKludes the costs of all fundraising acbwlies, events. non- eharFtable trading activibes, arky the sale of donat goods. expenditure on charitable actiwtses iludeS all costs incurred by a charity in und8rtaking a¢tiwties that further its charitable mS lor the benefit of its beneficiaries, including those supFx)rt costs and costs relating to the governance ol the chartty apFortioned to charitable actNFties. other expenditure includes all experKJrture Ihat is neithw related to rsing fvnds for the charity nor part ol ils expenditure on eharitatle acti¥Mies. All costs are allocated lo expendtture categories reflecting the use ol the resource. Direct Costs attributable lo a single activty are lOCated directly to that activtty. Shared costs are apptsrtioned btheen the a711eS they contribute to on a reasonable. jusffiable and consistent basis. Impaimwil ol flxed asset$ A review lor indicators of imt)airmerrt is carried at each rewrtirKJ date. with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the assel is imparred accordingly. Prior impairments are $0 wieweLI lor tM)ssible reversal al each port1j dale. Donations and kgacies vnrestried Funts Restricted Total Funds Funds 2023 Donations Donations 4.613 74,544 79,157 UnresttKted Funds Restricted Tot Funds Funds 2022 Donations Donations 510 14,500 15,010 10
Freshlord & Limpley Stoke Community Association Company Limited by Guarantee Notes to Ihe Financlal Statements (¢onllnu8d) Year ended 30 June 2023 Investmenl income Unrestricted Totsl Funds Urtrreslricled Total Funds Funds Funds 2022 Income from investrnent properties Bank interest rÈcÈivable 6,420 1,057 6,420 1.057 6.413 288 6,413 288 7.477 7.477 6.701 6.701 Independent examlnatlon fees 2022 Fees payable lo the independent examiner for.. Independent examination ol the financ statements 275 Trust remuneration and expenses There was no directOlS' TemuneratM)n or other beneffts for the ye ended 30 June 2023 Of the year ended 30 June 2022. Tangible fixed 08gets Freehold Plani arKI property rnachinery Total Cost At 1 July 2022 Additions Flevalualions 297,0( 68.729 98,271 297,000 93,529 98,271 488.8DO 24.800 At 30 June 21Yld 464,OCW) 24,800 Depreclation Al 1 July 2022 Charge for the year At 30 June 2023 29.7¢X) 5,940 29,700 5,940 35,640 Carrying amount At 30 June 2023 428.360 24,800 453,160 At 30 June 2022 267,300 267,300 11
Freshford & Limpley Stoke Community Association Company Limited by Guarantee Noies to Ihe Financlal Statements (w71inuod) Year ended 30 June 2023 Debtors 2022 Prepayments and accrued income Other debtors 7,162 5,665 165 12.827 170 10. Credltors: amounts falllng due within one year 2022 AcCruS and delerred income Social se¢urtty and other taxes 500 275 160 435 11. Analysis of ¢haTltabl8 furrfls Unrnstricted funds Gains and At losses 30 June 223 At 1 July 2022 Incom8 ExpeThJiture General funds 58,123 12,090 19,4091 Gains and Al losses 30 June 2022 Al 1 July 2021 Iro)me ExFenditiJre Generd funds 59,802 7.211 18,8901 58,123 12
Freshford & Limpley Stoke Community Association Company Limited by Guarantee Notes to the Financial Statements Year ended 30 June 2023 11. Analysis of charitsble lunds [cttn Rgstricted fund8 Gains and At losses 30 June 2023 Al 1 Juty 2022 Income ExperKlrture Restricted Fund 1 - desc in alcs Revaluation reserve 276.179 74,544 17,2751 343,448 98,271 98,271 276,179 74.544 17.2751 98,271 441,719 Gains and At losses 30 June 2022 Al 1 Juty 2021 Income ExperKltture Restricted Fund 1 - desc in alcs Revaluation reserve 273.240 14,500 {11.5611 276.179 273,240 14,500 111.5611 276,179 12. Anatysis of nel assets behveen funds Unrestrict FurKIs Restricl&l Total Funds Funds Tangible fixed assets Gurrent assets Creditors less than 1 year Net a8¥et$ 453,160 5,549 453,160 48,250 15001 500,910 42,701 15001 42.201 458,709 Unrestricted Funds Rerie Tal Funds Funds 2022 TangitrAe fixe(l assets Current assets Creditors less Ihan 1 year Net asseis 267,300 14.500 267.300 67,438 14361 334.302 52.938 14361 52.502 281.8(K) 13. Relaied parttes No donation was declared by Galleries Limited during the year 12022: £nill. During the year Galleries Limrted pall rent 01 £6.42012022.' £6.4131 lo FLISCA. FLISCA diTeclorsl trustees S H J Coombe. P A Firmin and P J Dawsoll are dso directors ol Galleries Limited. 13
Freshford & Limpley Stoke Community Association Company Limited by Guarantee Management Informalion Year ended 30 June 2023 The following pages do nol to part of the finanelal slatement$. 14
Freshford & Limpley Stoke Community Association Company Limited by Guaraniee Detalled Statement of Financial Activities Year ended 30 June 2023 2023 2022 Income and endowmonts Donations and legacies Donations 79,157 15,010 Investment income Income from investment propprties Bank interest r1VatI8 6,420 1,057 6,413 288 7,477 6,701 Total income 86,634 21.711 Expenditure Expenditure on tharltable acllvlts Repairs and maintenance Insurance Legal and professiond lees Other office costs Depreoialion 736 6,058 773 410 675 332 5.940 5.940 8,563 13,622 Other expendlture Grants to institutions Grant application lee 7.121 1.000 6.829 8,121 6,829 Total expendlture 16,684 20,451 Net income 69.950 1,260 15