REGISTERED COMPANY NUMBER: 07874435 REGISTERED CHARITY NUMBER: 1143346
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31st December 2022
for
Abbey Ward Community Association Limited
Cooper Paul Abacus House 14-18 Forest Road Loughton Essex IG10 1DX
Abbey Ward Community Association Limited
Contents of the Financial Statements for the Year Ended 31st December 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 to 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Notes to the Financial Statements | 8 to 13 |
| Detailed Statement of Financial Activities | 14 to 15 |
Abbey Ward Community Association Limited
Report of the Trustees for the Year Ended 31st December 2022
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 31st December 2022. 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 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07874435 (Not specified/Other)
Registered Charity number
1143346
Registered office
Cowbridge Lane Barking Essex IG11 8LQ
Trustees
K Peters M Farooqui W C Guyton Rev A Manford Ms D M Martinez Director
Company Secretary
K Peters
Independent Examiner
Andrew Gibson Cooper Paul Abacus House 14-18 Forest Road Loughton Essex IG10 1DX
Approved by order of the board of trustees on 19th September 2023 and signed on its behalf by:
Page 1
Abbey Ward Community Association Limited
Report of the Trustees for the Year Ended 31st December 2022
K Peters - Trustee
Page 2
Independent Examiner's Report to the Trustees of Abbey Ward Community Association Limited
Independent examiner's report to the trustees of Abbey Ward Community Association Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (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 Company 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.
Page 3
Independent Examiner's Report to the Trustees of Abbey Ward Community Association Limited
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
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 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.
Andrew Gibson The Institute of Chartered Accountants in England and Wales
Cooper Paul Abacus House 14-18 Forest Road Loughton Essex IG10 1DX
19th September 2023
Page 4
Abbey Ward Community Association Limited
Statement of Financial Activities for the Year Ended 31st December 2022
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 7,667 - Other trading activities 2 39,212 - Total 46,879 - EXPENDITURE ON Raising funds 3 52,628 - NET INCOME/(EXPENDITURE) (5,749) - RECONCILIATION OF FUNDS Total funds brought forward 21,479 - TOTAL FUNDS CARRIED FORWARD 15,730 - |
2022 Total funds £ 7,667 39,212 46,879 52,628 (5,749) 21,479 15,730 |
2021 Total funds £ 30,763 22,901 |
|---|---|---|
| 53,664 | ||
| 49,136 | ||
| 4,528 16,951 |
||
| 21,479 |
The notes form part of these financial statements
Page 5
Abbey Ward Community Association Limited
Balance Sheet 31st December 2022
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 7 10,244 - CURRENT ASSETS Cash at bank and in hand 8,486 - CREDITORS Amounts falling due within one year 8 (3,000) - NET CURRENT ASSETS 5,486 - TOTAL ASSETS LESS CURRENT LIABILITIES 15,730 - NET ASSETS 15,730 - FUNDS 9 Unrestricted funds TOTAL FUNDS |
2022 Total funds £ 10,244 8,486 (3,000) 5,486 15,730 15,730 15,730 15,730 |
2021 Total funds £ 10,776 14,400 (3,697) 10,703 21,479 21,479 21,479 21,479 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
Abbey Ward Community Association Limited
Balance Sheet - continued 31st December 2022
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 issue on 19th September 2023 and were signed on its behalf by:
K Peters - Trustee
M Farooqui - Trustee
D M Martinez - Trustee
The notes form part of these financial statements
Page 7
Abbey Ward Community Association Limited
Notes to the Financial Statements for the Year Ended 31st December 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - in accordance with the property Fixtures and fittings - 33% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
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 charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 8
Abbey Ward Community Association Limited
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| Hall rental income Summer club income RAISING FUNDS Raising donations and legacies Rates and water Insurance Light and heat Telephone Postage and stationery Repairs and maintenance Training Motor vehicle expenses Coach hire Licences Caretaker Storage hire CRS Computer expenses Depreciation Support costs |
2022 £ 36,913 2,299 39,212 2022 £ 1,887 1,557 5,308 702 357 4,968 40 - 625 281 16,777 490 112 - 532 2,507 36,143 |
2021 £ 22,901 - |
| 22,901 | ||
| 2021 £ 439 1,702 3,432 942 226 6,413 300 904 - - 14,380 471 24 158 1,579 3,036 |
||
| 34,006 |
3. RAISING FUNDS
continued...
Page 9
Abbey Ward Community Association Limited
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Examiner remuneration | 1,200 | 1,200 |
| Accountancy | 1,200 | 1,836 |
| Depreciation - owned assets | 532 | 1,579 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the year ended 31st December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2022 nor for the year ended 31st December 2021.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 30,763 - Other trading activities 22,901 - Total 53,664 - EXPENDITURE ON Raising funds 49,136 - NET INCOME 4,528 - RECONCILIATION OF FUNDS Total funds brought forward 16,951 - TOTAL FUNDS CARRIED FORWARD 21,479 - |
Total funds £ 30,763 22,901 |
|---|---|
| 53,664 | |
| 49,136 | |
| 4,528 16,951 |
|
| 21,479 |
continued...
Page 10
Abbey Ward Community Association Limited
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
7. TANGIBLE FIXED ASSETS
| 7. | TANGIBLE FIXED ASSETS | |||||
|---|---|---|---|---|---|---|
| Improvements | Fixtures | |||||
| to | and | Computer | ||||
| property | fittings | equipment | Totals | |||
| £ | £ | £ | £ | |||
| COST | ||||||
| At 1st January 2022 and | ||||||
| 31st December 2022 | 14,359 | 977 | 3,143 | 18,479 | ||
| DEPRECIATION | ||||||
| At 1st January 2022 | 3,583 | 977 | 3,143 | 7,703 | ||
| Charge for year | 532 | - | - | 532 | ||
| At 31st December 2022 | 4,115 | 977 | 3,143 | 8,235 | ||
| NET BOOK VALUE | ||||||
| At 31st December 2022 | 10,244 | - | - | 10,244 | ||
| At 31st December 2021 | 10,776 | - | - | 10,776 | ||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | ||||
| 2022 | 2021 | |||||
| £ | £ | |||||
| Accrued expenses | 3,000 | 3,697 | ||||
| 9. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At 1/1/22 | in funds | 31/12/22 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 21,479 | (5,749) | 15,730 | |||
| TOTAL FUNDS | 21,479 | (5,749) | 15,730 |
continued...
Page 11
Abbey Ward Community Association Limited
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 46,879 | (52,628) | (5,749) |
| TOTAL FUNDS | 46,879 | (52,628) | (5,749) |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1/1/21 | in funds | 31/12/21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 16,951 | 4,528 | 21,479 |
| TOTAL FUNDS | 16,951 | 4,528 | 21,479 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 53,664 | (49,136) | 4,528 |
| TOTAL FUNDS | 53,664 | (49,136) | 4,528 |
continued...
Page 12
Abbey Ward Community Association Limited
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/1/21 | in funds | 31/12/22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 16,951 | (1,221) | 15,730 |
| TOTAL FUNDS | 16,951 | (1,221) | 15,730 |
| A current year 12 months and prior year 12 months combined net movement in funds, | included in t | ||
| above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 100,543 | (101,764) | (1,221) |
| TOTAL FUNDS | 100,543 | (101,764) | (1,221) |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2022.
Page 13
Abbey Ward Community Association Limited
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31st December 2022 | ||
| 2022 | 2021 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Grants | 7,667 | 30,763 |
| Other trading activities | ||
| Hall rental income | 36,913 | 22,901 |
| Summer club income | 2,299 | - |
| 39,212 | 22,901 | |
| Total incoming resources | 46,879 | 53,664 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Rates and water | 1,887 | 439 |
| Insurance | 1,557 | 1,702 |
| Light and heat | 5,308 | 3,432 |
| Telephone | 702 | 942 |
| Postage and stationery | 357 | 226 |
| Repairs and maintenance | 4,968 | 6,413 |
| Training | 40 | 300 |
| Motor vehicle expenses | - | 904 |
| Coach hire | 625 | - |
| Licences | 281 | - |
| Caretaker | 16,777 | 14,380 |
| Storage hire | 490 | 471 |
| CRS | 112 | 24 |
| Computer expenses | - | 158 |
| Depreciation of tangible fixed assets | 532 | 1,579 |
| 33,636 | 30,970 | |
| Other trading activities | ||
| Purchases | 14,158 | 15,130 |
| Summer club expenses | 2,327 | - |
| 16,485 | 15,130 |
This page does not form part of the statutory financial statements
Page 14
Abbey Ward Community Association Limited
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31st December 2022 | ||
| 2022 | 2021 | |
| £ | £ | |
| Support costs | ||
| Finance | ||
| Bank charges | 107 | - |
| Governance costs | ||
| Examiners' remuneration | 1,200 | 1,200 |
| Examiners' remuneration for non audit work | 1,200 | 1,836 |
| 2,400 | 3,036 | |
| Total resources expended | 52,628 | 49,136 |
| Net (expenditure)/income | (5,749) | 4,528 |
This page does not form part of the statutory financial statements
Page 15