REGISTERED COMPANY NUMBER: 07874435 (England and Wales) REGISTERED CHARITY NUMBER: 1143346
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31st December 2024
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 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 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 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 31st December 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 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and activities
The Charity's Constitution was adopted on 30th March 1998 as amended on 1st October 2008. The objects of the association are to:
" promote the benefit of the inhabitants of Abbey Ward & Haris lane and the neighbourhood together defined by Abbey Ward (hereinafter called the area of benefit) without distinction of sex, sexual orientation, nationality, age, disability, race or of political, religious or other opinions, by associating together the said inhabitants and the statutory authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants;
" establish, or secure the establishment, of a community centre hereinafter called the centre and to maintain and manage the same whether alone or in co-operation with any local authority or other person or body in furtherance of these objects; and
" promote such other charitable purposes as may from time to time be determined. the association shall be non-party in politics and non-sectarian in religion.
In furtherance of this objective, the Trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission's published guidance concerning the operation of the Public Benefit requirement under the Act.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
Abbey Ward Association 2024 continue to provide many clubs for young people to be able to go socialise and enjoy space. Learn new activities, We like to be able to have a safe place for young people and vulnerable adults.
The groups for children are very well attended and we provide school holiday clubs and food for children with low income.
Abbey Ward have many religious groups in the centre that meet to pray.
They have also let the building to the council for important meetings for the Abbey Ward Neighbours,
Continue to provide Pre School and early learning for young children.
They have many voluntary helpers who still enjoy working in the centre.
FINANCIAL REVIEW
Financial position
Net incoming resources for the year were £8,024 (2023 : £2,400) thus at the end of this year, the charity had net assets of £26,154 (2023 : £18,130).
Page 1
Abbey Ward Community Association Limited
Report of the Trustees for the Year Ended 31st December 2024
FINANCIAL REVIEW
Investment policy and objectives
The trustees' investment powers are governed by the Constitution, which permits the Charity's funds to be applied at the absolute discretion of the trustees. As at the date of the balance sheet there were no restricted funds held by the Charity.
Reserves policy
It is the policy of the Charity to maintain unrestricted funds, which are the free reserves of the Charity, at a level which at least equates to approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs and to respond to emergency applications for grants, if necessary. Unrestricted funds were maintained at this level throughout the year. As our building and its equipment age, the costs of maintenance are increasing.
Going concern
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
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.
Induction and training of new trustees
New Trustees are inducted into the workings of the Association and given the Charity Commission leaflets CC3 and CC3(a), Responsibility of Charity Trustees, the latest accounts which have been subject to an independent examination and up to date management figures.
Risk 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 trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07874435 (England and Wales)
Registered Charity number
1143346
Registered office
Cowbridge Lane Barking Essex IG11 8LQ
Page 2
Abbey Ward Community Association Limited
Report of the Trustees for the Year Ended 31st December 2024
Trustees
K Peters M Farooqui Rev A Manford Ms D M Martinez Mrs L Strange (appointed 16/12/2024)
Company Secretary
K Peters
Independent Examiner
Andrew Gibson Cooper Paul Abacus House 14-18 Forest Road Loughton Essex IG10 1DX
Bankers
HSBC UK 118 High Street North London E6 2HX
Approved by order of the board of trustees on 8th September 2025 and signed on its behalf by:
K Peters - Trustee
Page 3
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 2024.
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.
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
8th September 2025
Page 4
Abbey Ward Community Association Limited
Statement of Financial Activities for the Year Ended 31st December 2024
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies - - Other trading activities 2 46,334 - Other income 9,726 - Total 56,060 - EXPENDITURE ON Raising funds 3 45,398 - Other 2,638 - Total 48,036 - NET INCOME 8,024 - RECONCILIATION OF FUNDS Total funds brought forward 18,130 - TOTAL FUNDS CARRIED FORWARD 26,154 - |
2024 Total funds £ - 46,334 9,726 56,060 45,398 2,638 48,036 8,024 18,130 26,154 |
2023 Total funds £ 1,408 36,932 - |
|---|---|---|
| 38,340 | ||
| 35,940 - |
||
| 35,940 | ||
| 2,400 15,730 |
||
| 18,130 |
The notes form part of these financial statements
Page 5
Abbey Ward Community Association Limited
Balance Sheet 31st December 2024
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 7 9,180 - CURRENT ASSETS Debtors 8 527 - Cash at bank and in hand 18,847 - 19,374 - CREDITORS Amounts falling due within one year 9 (2,400) - NET CURRENT ASSETS 16,974 - TOTAL ASSETS LESS CURRENT LIABILITIES 26,154 - NET ASSETS 26,154 - FUNDS 10 Unrestricted funds TOTAL FUNDS |
2024 Total funds £ 9,180 527 18,847 19,374 (2,400) 16,974 26,154 26,154 26,154 26,154 |
2023 Total funds £ 9,712 - 10,819 10,819 (2,401) 8,418 18,130 18,130 18,130 18,130 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 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 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 issue on 8th September 2025 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 2024
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 2024
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| Hall rental income Summer club income |
2024 £ 45,101 1,233 46,334 |
2023 £ 36,212 720 |
| 36,932 |
3. RAISING FUNDS
Raising donations and legacies
| Rates and water Insurance Light and heat Telephone Postage and stationery Repairs and maintenance Training Motor vehicle expenses Donations Licences Storage hire Professional fee General maintenance Crafts Depreciation Support costs |
2024 £ 3,403 1,840 5,136 939 309 4,240 359 374 200 77 541 319 19,850 300 532 - 38,419 |
2023 £ 649 1,270 4,189 875 360 1,616 320 638 - 139 540 49 16,620 - 532 2,046 |
|---|---|---|
| 29,843 |
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Examiner remuneration | 1,200 | 1,200 |
| Accountancy | 1,356 | 744 |
| Depreciation - owned assets | 532 | 532 |
continued...
Page 9
Abbey Ward Community Association Limited
Notes to the Financial Statements - continued for the Year Ended 31st December 2024
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2024 nor for the year ended 31st December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2024 nor for the year ended 31st December 2023.
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,408 - Other trading activities 36,932 - Total 38,340 - EXPENDITURE ON Raising funds 35,940 - NET INCOME 2,400 - RECONCILIATION OF FUNDS Total funds brought forward 15,730 - TOTAL FUNDS CARRIED FORWARD 18,130 - |
Total funds £ 1,408 36,932 |
|---|---|
| 38,340 | |
| 35,940 | |
| 2,400 15,730 |
|
| 18,130 |
continued...
Page 10
Abbey Ward Community Association Limited
Notes to the Financial Statements - continued for the Year Ended 31st December 2024
7. TANGIBLE FIXED ASSETS
| Improvements Fixtures to and Computer property fittings equipment Totals £ £ £ £ COST At 1st January 2024 and 31st December 2024 14,359 977 3,143 18,479 DEPRECIATION At 1st January 2024 4,647 977 3,143 8,767 Charge for year 532 - - 532 At 31st December 2024 5,179 977 3,143 9,299 NET BOOK VALUE At 31st December 2024 9,180 - - 9,180 At 31st December 2023 9,712 - - 9,712 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 £ £ Prepayments 527 - 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 £ £ Accrued expenses 2,400 2,401 10. MOVEMENT IN FUNDS Net movement At At 1/1/24 in funds 31/12/24 £ £ £ Unrestricted funds General fund 18,130 8,024 26,154 TOTAL FUNDS 18,130 8,024 26,154 |
Totals £ 18,479 |
Totals £ 18,479 |
|---|---|---|
| 8,767 532 |
||
| 9,299 | ||
| 9,180 | ||
| 9,712 | ||
| 2023 £ - |
||
| 2023 £ 2,401 |
||
| 26,154 |
continued...
Page 11
Abbey Ward Community Association Limited
Notes to the Financial Statements - continued for the Year Ended 31st December 2024
10. 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 | 56,060 | (48,036) | 8,024 |
| TOTAL FUNDS | 56,060 | (48,036) | 8,024 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1/1/23 | in funds | 31/12/23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 15,730 | 2,400 | 18,130 |
| TOTAL FUNDS | 15,730 | 2,400 | 18,130 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 38,340 | (35,940) | 2,400 |
| TOTAL FUNDS | 38,340 | (35,940) | 2,400 |
| A current year 12 months and prior year 12 months combined position is as | follows: | ||
| Net | |||
| movement | At | ||
| At 1/1/23 | in funds | 31/12/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 15,730 | 10,424 | 26,154 |
| TOTAL FUNDS | 15,730 | 10,424 | 26,154 |
continued...
Page 12
Abbey Ward Community Association Limited
Notes to the Financial Statements - continued for the Year Ended 31st December 2024
10. 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 | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 94,400 | (83,976) | 10,424 |
| TOTAL FUNDS | 94,400 | (83,976) | 10,424 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2024.
Page 13
Abbey Ward Community Association Limited
| Detailed Statement of Financial Activities for the Year Ended 31st December 2024 INCOME AND ENDOWMENTS Donations and legacies Grants Other trading activities Hall rental income Summer club income Other income Insurance claim Total incoming resources EXPENDITURE Raising donations and legacies Rates and water Insurance Light and heat Telephone Postage and stationery Repairs and maintenance Training Motor vehicle expenses Donations Licences Storage hire Professional fee General maintenance Crafts Depreciation of tangible fixed assets Other trading activities Purchases Summer club expenses |
2024 2023 £ £ - 1,408 45,101 36,212 1,233 720 46,334 36,932 9,726 - 56,060 38,340 3,403 649 1,840 1,270 5,136 4,189 939 875 309 360 4,240 1,616 359 320 374 638 200 - 77 139 541 540 319 49 19,850 16,620 300 - 532 532 38,419 27,797 5,746 3,772 1,233 2,325 6,979 6,097 |
2024 2023 £ £ - 1,408 45,101 36,212 1,233 720 46,334 36,932 9,726 - 56,060 38,340 3,403 649 1,840 1,270 5,136 4,189 939 875 309 360 4,240 1,616 359 320 374 638 200 - 77 139 541 540 319 49 19,850 16,620 300 - 532 532 38,419 27,797 5,746 3,772 1,233 2,325 6,979 6,097 |
|---|---|---|
| 36,932 - |
||
| 38,340 649 1,270 4,189 875 360 1,616 320 638 - 139 540 49 16,620 - 532 |
||
| 27,797 3,772 2,325 |
||
| 6,097 |
This page does not form part of the statutory financial statements
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Abbey Ward Community Association Limited
| Detailed Statement of Financial Activities for the Year Ended 31st December 2024 Support costs Finance Bank charges Governance costs Examiners' remuneration Examiners' remuneration for non audit work Total resources expended Net income |
2024 2023 £ £ 82 102 1,200 1,200 1,356 744 2,556 1,944 48,036 35,940 8,024 2,400 |
2024 2023 £ £ 82 102 1,200 1,200 1,356 744 2,556 1,944 48,036 35,940 8,024 2,400 |
|---|---|---|
| 1,944 | ||
| 35,940 | ||
| 2,400 |
This page does not form part of the statutory financial statements
Page 15