**Registered company number - 05708825** **NEWINGTON COMMUNITY ASSOCIATION LIMITED (A COMPANY LIMTED BY GUARANTEE)** **TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2022** **NEWINGTON COMMUNITY ASSOCIATION LIMITED** ## **CONTENTS** ||**Pages**| |---|---| |Trustees' Annual Report|1 - 5| |Independent Examiner's Report|6| |Statement of Financial Activities|7| |Balance Sheet|8| |Notes to the Accounts|9 - 15| **NEWINGTON COMMUNITY ASSOCIATION LIMITED** Page 1 **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022** The Trustees, who are also Directors for the purposes of company law, have pleasure in presenting their report and the unaudited financial statements of the Charity for the year ended 31 March 2022, which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Charity Registration Number Company Registration Number** 1141388 05708825 ## **Registered Office** Newington Community Centre Princess Margaret Avenue Ramsgate Kent CT12 6HX ## **Trustees/Directors** R R Nicholson S H Voak N E Marshall ## **Company Secretary** N E Marshall ## **Bankers** HSBC Bank Plc 1 High Street Ramsgate Kent CT11 9AD ## **Independent Examiner** Mr S J Wren FCCA Accountancy Matters (Kent) Limited The Marlowe Innovation Centre Marlowe Way Ramsgate Kent CT12 6FA **NEWINGTON COMMUNITY ASSOCIATION LIMITED** Page 2 **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The organisation is a charitable company limited by guarantee, incorporated on 14 February 2006 and registered as a charity on 1 April 2011. The company was established under a Memorandum and Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. ## **Recruitment and appointment of trustees** The directors of the company are also charity Trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association the number of Trustees must be not less than three. All Trustees retire at each Annual General Meeting but they can be re-elected. The charity welcomes contact from individuals who are interested in joining the Trustee Board. All Trustees give their time voluntarily and received no benefits from the charity. Any expenses reclaimed from the charity are set out in the notes to the accounts. New Trustees are provided with an induction into the charity’s work and the duties and responsibilities of the Trustee Board. ## **Organisational structure** The Trustee Board oversees the running of the charity. A partner organisation, Newington Big Local (whose legal entity is Starlings Support CIC), assists in the day to day running of the centre in agreement with the charity. Newington Big Local provides paid and volunteer support for the charity. ## **Related parties** The charity has an arrangement with Newington Big Local (Starlings Support CIC) to assist with the day to day running of the centre. Newington Big Local has also provided grant funding for the charity for new equipment and associated running costs. ## **Risk management** The Trustees conduct regular reviews of the major risks to which the charity is exposed. Where appropriate, systems or procedures are established to mitigate the risks the charity faces. This year, these have included: - a review and update of policies and procedures including a management agreement for the running of the Centre - securing additional funding to build the charity's reserves to cover repairs, renewals and unforeseen expenditure ## **Purposes and activities** The charity’s purpose is to manage and maintain Newington Community Centre, to provide facilities in the interest of social welfare for recreation and leisure time pursuits for the benefit of the inhabitants of Newington Ward, Ramsgate, Kent. The charity took over the running of the community centre from Thanet District Council in July 2007. The centre is available for public hire and hosts a wide range of activities and projects. **NEWINGTON COMMUNITY ASSOCIATION LIMITED** Page 3 **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022** ## **How our activities deliver public benefit** The Trustees confirm they have had due regard to the Charity Commission’s public benefit guidance and are confident the objectives and activities undertaken provide significant benefit to the public and are in accordance with its charitable objects, as described in the following sections of the annual report. ## **Achievements and performance** During this year Newington Community Association has worked in partnership with Newington Big Local to manage the Community Centre, and has worked in partnership with statutory, private and civil society organisations to provide social, leisure and educational activities to ensure that residents can access advice, information and support that meets their needs. The Centre has also continued to host two resident-led community projects, Newington Big Local and Creative Newington. The community space is hired for group activities and clubs as well as private and community functions; this year, due to the Covid-19 pandemic, the hall returned to hire from May 2021. The hall has been hired regularly for activities including dog training, bingo and private parties, and has also been used to run a number of community projects: Holiday Activities and Food projects for children during school holidays; a weekly youth club, Chill Club; a weekly creative club; junior youth theatre; cabaret workshops; and community cooking sessions for families The hall has also continued its use as a food storage and distribution hub for Newington's Food Club. The Food Club, operated by Newington Big Local, supports more than 1,600 households, providing low-cost and free food, and also provides packed lunches, hot meals for children and family meal kits during school holidays. Food distribution sessions have taken place twice weekly throughout the year. The charity was able to access emergency government funding to cover running costs and build reserves. The charity was successful in securing grant funding from the National Lottery Community Fund, which enabled the charity to purchase a new van for community use, and to sell the former van. ## **FINANCIAL REVIEW** ## **Financial position** The financial overview for the year to 31 March 2022 is as follows: ## Income: £57,053 Expenditure: £12,579 Net income: £44,474 (comprising unrestricted £44,752 and restricted £(278)) Balance brought forward: £27,997 Balance carried forward: £72,471 The charity made an unrestricted (general) surplus of £35,454 before transfers from restricted to unrestricted funds of £9,298 to cover fixed assets. This surplus was possible because the charity received additional funding arising from the Covid-19 pandemic, mainly from government, which enabled costs to be covered and reserves to be re-built, and from the receipt of a Compensation Order payment due to the charity. The reduction in restricted funds for the year was due to the spending of part of a grant brought forward from the previous financial year. **NEWINGTON COMMUNITY ASSOCIATION LIMITED** Page 4 **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022** ## **Fundraising** In the year to 31 March 2022, the majority of the charity’s income was secured from grant funding and room hire, with a small amount of donated and fundraised income. The unrestricted grants received were: Thanet District Council (central government grants): Business Restart Grant £8,000. Omicron Hospitality and Leisure Grant £2,667. The charity also received a restricted grant from the National Lottery Community Fund for £9,500 for a community van. Of this, £202 remains unspent at 31 March 2022.The charity also brought forward a grant from Tesco Bags of Help for £1,166 for equipment renewal, the remainder of which is planned to be spent during the financial year 2022/23. The charity's income is usually generated from the hire of its premises for local residents and groups. The Trustees intend that the running of the Centre will be self-sufficient, with running costs met from selfgenerated hire income. ## **Investment policy** The Trustees operate a policy of holding any reserves held in an interest-bearing savings account. ## **Reserves Policy and going concern** The reserves of the charity are intended to cover fluctuations in income, unforeseen expenditure, the renewal of fixed assets and for expenditure on areas of the premises for which the charity has responsibility. A designated fund has been created by the Trustees within the unrestricted funds, representing the net book value of the charity's fixed assets at the balance sheet date. This has been created because the assets cannot be utilised for future expenditure. At 31 March 2022, the charity's funds were as follows: Unrestricted general fund: £59,326 (£19,417 at 31 March 2021) Designated fixed asset fund: £12,257 (£7,414 at 31 March 2021) Restricted funds (Tesco grant and National Lottery Community Fund grant): £888 (£1,166 at 31 March 2021) The charity had two restricted funds as at 31 March 2022: • Tesco Bags of Help (£686) - The funds are for equipment renewal for the community and are planned to be spent during the financial year 2022/3. • National Lottery Community Fund (£202) - The funds were for the purchase of the Newington Community Van. The funds were spent on the purchase of a van and graphics. The transfer from this fund is in respect of fixed assets. Remaining funds are planned to be spent during the financial year 2022/23. It is the policy of the Trustees to hold reserves to equal 3-6 month’s running costs, plus a fund for premises repairs and renewals. Reserves are currently in excess of this amount due to the Compensation Order paid to the charity; the compensation covers losses in charity funds over recent years. The excess reserves are planned to be invested in the development and maintenance of the community centre and to progress the asset transfer. The charity is considered to be a going concern. The running costs of the Association are met from hire income in normal operating circumstances, and grant funding is held in reserve to cover premises repairs and renewals and any losses of income including arising in the future from economic downturns, rising energy costs and the effects of the Covid-19 pandemic. **NEWINGTON COMMUNITY ASSOCIATION LIMITED** Page 5 **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022** ## **PLANS FOR FUTURE PERIODS** The charity’s long term aim is to take over the ownership of the building via a Community Asset Transfer. In order to achieve this, a feasibility study is being developed and a programme undertaken to strengthen the governance and management of the charity. This process has been delayed due to the Covid-19 national restrictions but it is hoped the Community Asset Transfer will continue during the financial year 2022/23. Signed on behalf of the Board of Trustees by : R R Nicholson - Chair Date : 8 December 2022 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF** Page 6 ## **NEWINGTON COMMUNITY ASSOCIATION LIMITED** I report to the Charity trustees on my examination of the accounts of the charity for the year ended 31 March 2022 which are set out on pages 7 to 15. ## **Responsibilities and basis of report** As the Charity's trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your Charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: - 1 accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or - 2 the accounts do not accord with those records; or - 3 the accounts do not comply with the accounting requirements of section 386 of the 2006 Act other than any requirements that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or - 4 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. **S J Wren FCCA Accountancy Matters (Kent) Limited Chartered Certified Accountants The Marlowe Innovation Centre Marlowe Way Ramsgate Kent CT12 6FA** Date : 8 December 2022 **NEWINGTON COMMUNITY ASSOCIATION LIMITED** Page 7 ## **STATEMENT OF FINANCIAL ACTIVITIES (incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2022** |**Notes**
**Unrestricted**
**funds**
**£**
**INCOME**
Donations and grants
2
10,680
Charitable activities
3
10,857
Other trading activities
4
1,058
Investment income
5
1
Other income
17
24,957
**TOTAL INCOME**
47,553
**EXPENDITURE**
Cost of raising funds
-
Charitable activities
12,099
**TOTAL EXPENDITURE**
6
12,099
**NET (EXPENDITURE)/INCOME FOR THE YEAR**
**BEFORE TRANSFERS**
7
35,454
Transfers between funds
9,298
**NET MOVEMENT IN FUNDS FOR THE YEAR**
44,752
Balance as at 1 April 2021
26,831
**BALANCE AT 31 MARCH 2022**
71,583|**Restricted**
**funds**
**£**
9,500
-
-
-
-
9,500
-
480
480
9,020
(9,298)
(278)
1,166
888|**Total**
**Total**
**funds**
**funds**
**2022**
**2021**
**£**
**£**
20,180
24,312
10,857
2,847
1,058
1,886
1
-
24,957
-
57,053
29,045
-
-
12,579
13,050
12,579
13,050
44,474
15,995
-
-
44,474
15,995
27,997
12,002
72,471
27,997| |---|---|---| **NEWINGTON COMMUNITY ASSOCIATION LIMITED** Page 8 ## **BALANCE SHEET AS AT 31 MARCH 2022** |**Notes**
**FIXED ASSETS**
Tangible assets
9
**CURRENT ASSETS**
Debtors and prepayments
10
Cash at bank and in hand
**CURRENT LIABILITIES**
Creditors: amounts falling due within one
year
11
**NET ASSETS**
12
Represented by:
**FUNDS OF THE CHARITY**
Unrestricted general fund
13
Designated funds
13
Restricted funds
13
**TOTAL FUNDS**|26,712
36,440
63,152
2,938|**2022**
**£**
12,257
701
23,651
24,352
3,769
60,214
72,471
59,326
12,257
888
72,471|**2021**
**£**
7,414
20,583| |---|---|---|---| ||||27,997| ||||19,417
7,414
1,166| ||||27,997| For the financial year ended 31 March 2022 the company was entitled to exemption from audit under s.477 Companies Act 2006 and no members have deposited a notice under s.476 requiring an audit. The Directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with s.386 of the Act for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with the Charities SORP FRS 102. Approved and signed for issue by the Trustees on 8 December 2022. R R Nicholson- Chair S Voak - Trustee ## **Company registration number - 05708825** **NEWINGTON COMMUNITY ASSOCIATION LIMITED** Page 9 **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **1 ACCOUNTING POLICIES** ## **a) Basis of accounting** The financial statements have been prepared in accordance with 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 (FRS102) (effective 1 January 2019) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. Newington Community Association Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. - b) **Preparation of the accounts on a going concern basis** The charity is considered to be a going concern. The running costs of the Association are met from hire income in normal operating circumstances, and grant funding is held in reserve to cover premises repairs and renewals and any losses of income including arising in the future from economic downturns, rising energy costs and the effects of the Covid-19 pandemic. ## c) **Income** Grants receivable - grants made to finance the activities of the Charity are credited to the statement of financial activities (SOFA) accounting in the period to which they relate. Bank interest - bank interest is included in the income and expenditure account on receipt. Other income - other income, including donations and gifts are included as they were received. Deferred income - income received before the balance sheet date for room hire after the balance sheet date will be reflected within deferred income on the balance sheet. - d) **Expenditure** - All expenditure is accounted for on an accruals basis and includes VAT where applicable. Expenditure has been included under expense categories that aggregate all costs for allocation to activities. - e) **Depreciation of fixed assets** Tangible fixed assets costing more than £200 are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows : Van 20% straight line Office equipment 20% straight line Fixtures and fittings 20% straight line - f) **Fund accounting** Unrestricted funds are grants, donations and other incoming resources receivable by the Charity without further specified purpose and are available as general funds. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim of each restricted fund is set out in the notes to the financial statements. **NEWINGTON COMMUNITY ASSOCIATION LIMITED** Page 10 **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **1 ACCOUNTING POLICIES** ## g) **Operating leases** Rentals under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term. ## h) **Significant judgements and estimates** No significant judgements or estimates have had to be made by the Trustees in preparing these financial statements. |**Unrestricted**
**funds**
**£**
**2**
**DONATIONS AND GRANTS**
Donations
13
**Grants :**
The National Lottery Community Fund
-
Tesco Bags of Help
-
HMRC Job Retention Scheme
-
Thanet District Council
10,667
Ramsgate Town Council
-
10,680
**3**
**INCOME FROM CHARITABLE ACTIVITIES**
Room hire
10,857
Services
-
10,857
**4**
**OTHER TRADING ACTIVITIES**
Fundraising income
1,058
Rental income
-
1,058
**5**
**INVESTMENT INCOME**
Bank interest receivable
1|**Restricted**
**funds**
**£**
-
9,500
-
-
-
-
9,500
-
-
-
-
-
-
-|**2022**
**Total**
**funds**
**£**
13
9,500
-
-
10,667
-
~~.~~
20,180
10,857
-
10,857
1,058
-
1,058
1|**2021**
**Total**
**funds**
**£**
262
-
1,666
833
21,051
500| |---|---|---|---| ||||24,312| ||||2,847
-| ||||2,847| ||||1,886
-| ||||1,886| ||||-| Bank interest receivable **NEWINGTON COMMUNITY ASSOCIATION LIMITED** Page 11 ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** |**6**
**EXPENDITURE**
**Unrestricted**
**funds**
**£**
Cost of raising funds
Fundraising costs
-
Publicity
-
-
Charitable activities costs
Activity costs
-
Wages and salaries
-
Maintenance of Community Centre
568
Cleaning and waste
1,475
Rates and water
1,550
Light and heat
3,335
Printing, Postage and stationery
3
Telephone and broadband
480
Insurance
748
Sundries
83
Depreciation
4,455
Loss/(Profit) on disposal of fixed assets
(1,500)
Support costs
Bookkeeping and payroll costs
259
Governance costs
AGM meeting expenses
-
Companies House fee
13
Independent Examiner's fee
630
12,099
**Total expenditure**
12,099
**7**
**NET INCOME**
This is stated after charging:
Depreciation
Independent Examiner's remuneration:|**Restricted**
**funds**
**£**
-
-
-
-
480
-
-
-
-
-
-
-
-
-
-
-
-
480
480|**2022**
**Total**
**funds**
**£**
-
-
-
-
-
1,048
1,475
1,550
3,335
3
480
748
83
4,455
(1,500)
259
-
13
630
12,579
12,579
**2022**
**£**
4,455
630|**2021**
**Total**
**funds**
**£**
-
-| |---|---|---|---| ||||-
500
1,551
66
1,032
1,189
2,302
-
620
713
56
3,783
-
655
-
13
570| ||||13,050| ||||13,050| ||||**2021**
**£**
3,783
570| **NEWINGTON COMMUNITY ASSOCIATION LIMITED** Page 12 **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** |**8**
**INFORMATION REGARDING EMPLOYEES**
Wages and salaries
Social security costs
Employer pension contributions
Employment Allowance
The average monthly head count was 0 staff (2021 - 1 staff).
The average number of employees based on full time equivalents was:
Direct charitable activities|**2022**
**£**
-
-
-
-
-
**2022**
**Number**
-|**2021**
**£**
1,551
-
-
-| |---|---|---| |||1,551| |||**2021**
**Number**
1| No employee received remuneration of more than £60,000 during the year (2021 - £Nil). No Trustees received remuneration or were reimbursed expenses during the year (2021 - £Nil). The total employee benefits (including employers national insurance) of the key management personnel of the Charity were £Nil (2021 - £Nil). ## **9 FIXED ASSETS** |**FIXED ASSETS**||||| |---|---|---|---|---| |**Cost**
As at 1 April 2021
Additions
Disposals
As at 31 March 2022
**Depreciation**
As at 1 April 2021
Charge for the year
Disposals
As at 31 March 2022
**Net book value**
As at 31 March 2022
As at 31 March 2021|**Van**
**£**
3,899
9,298
(3,899)
9,298
3,899
1,860
(3,899)
1,860
7,438
-|**Office**
**£**
6,971
-
-
6,971
3,219
1,374
-
4,593
2,378
3,752
**Equipment**|**Fixtures &**
**Fittings**
**£**
11,987
-
-
11,987
8,325
1,221
-
9,546
2,441
3,662|**Total**
**£**
22,857
9,298
(3,899)| |||||28,256| |||||15,443
4,455
(3,899)| |||||15,999| |||||12,257| |||||7,414| **NEWINGTON COMMUNITY ASSOCIATION LIMITED** Page 13 ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** |**10 DEBTORS**
Trade debtors
Other debtors
Prepayments
Accrued income
**11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Taxation and social security
Other creditors
Accruals
Deferred income
**12 ANALYSIS OF NET ASSETS BETWEEN FUND**
**General**
**Designated**
**funds**
**funds**
**£**
**£**
Fixed assets
-
12,257
Current assets
62,264
-
Current liabilities
(2,938)
-
**Net assets as at 31 March 2022**
59,326
12,257
**ANALYSIS OF NET ASSETS BETWEEN FUND - PREVIOUS YEAR**
**General**
**Designated**
**funds**
**funds**
**£**
**£**
Fixed assets
-
7,414
Current assets
23,186
-
Current liabilities
(3,769)
-
**Net assets as at 31 March 2021**
19,417
7,414|**2022**
**£**
1,015
24,957
740
-
26,712
**2022**
**£**
647
-
50
1,181
1,060
2,938
**Restricted**
**funds**
**£**
-
888
-
888
**Restricted**
**funds**
**£**
-
1,166
-
1,166|**2021**
**£**
-
-
701
-| |---|---|---| |||701| |||**2021**
**£**
631
-
1,586
879
673| |||3,769| |||**Total**
**£**
12,257
63,152
(2,938)| |||72,471| |||**Total**
**£**
7,414
24,352
(3,769)| |||27,997| **NEWINGTON COMMUNITY ASSOCIATION LIMITED** Page 14 ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** |**13 MOVEMENT IN FUNDS**

Restricted funds
Newington Community Van
Tesco Bags of Help
Total Restricted funds
Designated funds
Fixed asset fund
Total Designated funds
Unrestricted general funds
Total funds|**As at**
**1 04 2021**
**£**
-
1,166
1,166
7,414
7,414
19,417
27,997|**Income Expenditure**
**£**
**£**
9,500
-
-
(480)
9,500
(480)
-
-
-
-
47,553
(12,099)
57,053
(12,579)|**As at**
**Transfers**
**31 03 2022**
**£**
**£**
(9,298)
202
-
686
(9,298)
888
4,843
12,257
4,843
12,257
4,455
59,326
-
72,471| |---|---|---|---| ## **Restricted funds :** ## _Tesco Bags of Help_ The balance of funds received from a grant received last year which are for equipment renewal for the community and are planned to be spent during the financial year 2022/23. ## _Newington Community Van_ Funds from a grant from The National Lottery Community Fund were for the purchase of the Newington Community Van. The funds were spent on the purchase of a van and graphics. The transfer from this fund is in respect of fixed assets. Remaining funds are planned to be spent during the financial year 2022/23. ## **Designated funds :** ## _Fixed asset fund_ A fund created by the Trustees and represents the net book value of the charity's fixed assets at the balance sheet date. The fund was created due to the increase in fixed assets and although they are within general funds the value of the assets cannot be utilised for future expenditure. ## **MOVEMENT IN FUNDS - PREVIOUS YEAR** |
Restricted funds
Tesco Bags of Help
Total Restricted funds
Designated funds
Fixed asset fund
Total Designated funds
Unrestricted general funds
Total funds|**As at**
**1 04 2020**
**£**
-
-
11,197
11,197
805
12,002|**Income Expenditure**
**£**
**£**
1,666
(500)
1,666
(500)
-
-
-
-
27,379
(12,550)
29,045
(13,050)|**As at**
**Transfers**
**31 03 2021**
**£**
**£**
-
1,166
-
1,166
(3,783)
7,414
(3,783)
7,414
3,783
19,417
-
27,997| |---|---|---|---| **NEWINGTON COMMUNITY ASSOCIATION LIMITED** Page 15 **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **MOVEMENT IN FUNDS - PREVIOUS YEAR - Cont'd** ## **Restricted funds :** ## _Tesco Bags of Help_ The charity received two grants from Tesco Bags of Help. A £500 grant from the Covid-19 Communities Fund provided creative packs for children and families during lockdown. A grant of £1,166 for equipment renewal for the community will be spent during the financial year 2021/22. ## **Designated funds :** ## _Fixed asset fund_ A fund created by the Trustees and represents the net book value of the charity's fixed assets at the balance sheet date. The fund was created due to the increase in fixed assets and although they are within general funds the value of the assets cannot be utilised for future expenditure. ## **14 FINANCIAL COMMITMENTS** The charity has a lease with the local council in respect of the Community Centre. The lease is for 21 years as from 16 July 2007 and although the lease mentions a market value rent becoming payable the council have never charged the charity any rent. ## **15 MEMBERS LIABILITY** The company is a company limited by guarantee. Every member of the Charity undertakes to contribute such amount as may be required, not exceeding £1, to the Charity's assets if it should be wound up while they are a member or within one year after they ceased to be a member, for the costs of winding up and for the adjustment of the rights of persons who have contributed to the Charity's assets. ## **16 CORPORATION TAXATION** The Charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## **17 RELATED PARTY TRANSACTIONS** On 9 June 2021, Michael Harrison, a former Trustee of the charity, was convicted of Fraud by false representation at Canterbury Crown Court. A Compensation Order was awarded to the charity in the sum of £24,957.62 in respect of the fraudulently obtained funds, to be paid by the offender to the charity via the court. The charity was notified on 21 March 2022 that the compensation had been paid to the Court, and is shown in the accounts as a debtor, as received by the charity in April 2022. There were no other transactions with related parties during the year under review or the preceding year.