Registered Charity Number 1145178 Registered Company Number 07662038 The Oval (Stevenage) Communty Association Report and Accounts for the year ended 31 March 2025
The Oval (Stevenage) Community Association Report and accounts Contents Company Infonnation Trustee's Report Examlnerf8 report stalement of Financial Activttles Balance sheet Notes to the accounts 12 14 15 16 Detalled Slatement of Flnanclal Activitses 21
Th• Oval (St•venage) Communlty Associatlon Company Inforniatlon Dlrnctor8 Jeanette Thomas {Chairperson) Paul Laurence Bolelle Rose Hall {reslgned 21 OCtler 2024) Reverend Pats Orton countant8 Hargraaves Owen Limited Red Sky Hou88 Fairclough Hall Halls Green Herts SG4 7DP Bankors The Co - operative Bank plc PO Box 101, 1 Balloon Street Manchester M60 4EP R•gisterod offlc• The Oval Communty Centre The Oval Vardon Road Stevenage Herts SG15RD Charlty number 1145178 Company numb•r 07662038
ThE OVAL (STEVENAGE) COMMUNITY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Directors of the Com Law, present their report , who are the trustees of the charity for the purposes of Charity e Accountlng Penod 1st Apnl 2024 to 31st March 2025. NAME, REGISTERED OFFICE AND CONSTITUTION OF THE CHARITY The full name of the charlty is The Oval (Stevenage) Communlty Associatlon. The legal reglstratlon detalls are :_ Company Reglstrntion Numb8r The Regl8ter8d Office is 07662038 The Oval Communty Centre. Th8 Oval Vardon Road, Stevenage. Herts SG15RD 1145178 01438 359404 Charity Registration Number Th8 telephone numb8rl8 OBJECTIVES AND ACTIVITIES OF THE COMPANY Te company is governed by its, Artides of AssociatK)n, as modlfled by special resolufjon on 19th December 2012. The companys charItate objects, set out in its, Articles of Assoclation, are.. •to promote the benefit of the inhabitants of Stevenage without distinction of sex, sexual orientation, race or of politlcal, religious or other opinions, by associating together the said inhabitants and the local authorfties. voluntary and other organi5ations in a common effort to advance education and to provide facilities in the interests of S¢xial welfare for recreation and leisure - time occupation, th the object of improving the conditions of lrfe of the said inhabitants •to establish, or secure the establlshment ol, a Communty Centre and to maintain and manage the same {whether alone or in cfroperation wlth any l¢xal authority or other person or l)ody) in furtherance of these objectives •to promots such other charitable purposes as may from tim8 to time be determined SUMMARY OF THE MAIN ACTIVITIES OF THE CHARITY IN RELATION TO ITS OBJECTIVES In all the activities undertaken by the Company, the Directors in their role as charity trustees have been mindful of their statutory duty to take into account the guidance on public benefit set out In The Charity Commission's Guidance Documents PB1 Th8 Public Benefft Requirements, PB2 Running a Charity and PB3 Reporting. During the accounting period, the principal activity of the Company comprised the day-t(aY running and management of The Oval Community Centre. Including the lethng of rooms and halls. Sarah Walker, the Community Centre Manager, is the Company's senior paid employee. The range and scope of activities undertaken. during the 202412025 year can best be judged from her report prepared for the Company's 2025 AGM , whlch is reprodUd below {in itallcs), having been endorsed by the Directors.
THE OVAL (STEVENAGE) COMMUNrrY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Cèntre Planagorf8 Report Hire It has been a busy and challenging time for the office stsff with many changes io trE dHry bookings throughout the year. However, the extra work has paid off and our daytime hire is Imcking up considerably. 'The psychic circle has stopped meeting on 18th April 2024. .Ttr Mums & Baby Yoga sessions stOPFed on 218t June 2024 after her offer period ran out. .Our ¢)wn Toddler Group closed on 15th July 2024. Due to the lack of volurteers to run the group, numbers attended had thvindled. It was a shame to lose such a vital cornmunty group. "Due to funding cuts, we lost the hire from NHS Health on 10th August 2024 who were working alongside the Family Centre to provide parents-to-be sessions, 3 times every 2 months. 'Sabre Grappling hired room 314 for 4 evenings a week from 7pm - 8pm starting 14th October to teach Br8zilian Jujltsu to Adults. Unfortunately, the room was t¢)0 small, and they left us on 18th December 2024. 'Chair Yoga left us on 131h December 2024. They were on a temporary reduced l*e that we could no longer sustain. We could not accommodate her class in a sller 'Yoga with Mirka ceased on 12th December 2024 due to low numbers of attendees. 'Home School Tutortng stsrted a regular hire on 20th January 2025 for 15 hours per week, temi tlme. Unfortunatety, this hire onty lasted 4 weeks. 'Buzz Cheerleaders hire abruptly Stop on 10th February 2025 due to farnity commitments. 'Dance yourse Flt joined us for a brief period over the summer holidays 2024. However, we were unable to accunmodate them on a longer term. 'The Black Men Forum joined us on 7th October 2024 hiring the main hall on Monday evening for over 50's black men to join a table tennis league. 'The Irish Network approached us to hire our rooms as they were looking to venlure further into the Community. We were excited to be able to offer them a variety of dates, times and rooms to suit their needs on a regular weekly basis. Their hire commenced on 8th October 2024. 'TBC Healthcare started hiring the coffee bar on Thursday mornings from 24th October 2024 to run a weight loss clinic for people referred from a GP. After their first week they increased their sessions to 2 a week for 12 weeks. 'sPa Herts hired room 314 from 1 Oth January 2025 for a 6-week training course. "Stevenage Borough Football Foundation increased their hire to 3 sessions per week with effect from 4th February 2025, adding adult walking football. "Our Craft Group continues and is at full capacty.
THE OVAL (STEVENAGE) COMMUNITY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Durlng the quieter period of the summer holidays, we dosed the Centre off on a Friday, to help keep staff costs down. The FamHy Centre Contract was up for tender and was won by OneYMCA. They took over from Bamardos our existing hirer on 1st January 2025. Jeannette and Paul had a Teams Call with HCC and OneYMCA on 29th October 2024 to look through the hire agreement. Gail. myself and SBC also joined a further meeting on 19th Dernber 2024 to discuss the hire agreement in more detail. The Agreement was signed on 27th January 2025. OneYMCA does not employ a cleaner. We provided a quote for this service, which was accepted and our cleaner Caroline commenced cleaning the Youthwing with effect from 17th February 2025 for 5 hours per Wk. Other continuous regular hlre includes, Jive of Hearts, Dogs Trust, Beezee Bodies, Youth Connexions, TCES, Ostomistics, Longfellow Pilates, Friendship Group. Dogs Trust, Chiropodist, Amputee Family. Functlons Children's parties have remained Consistent throughout the year. Evening functions were very quiet at the beginning of the financial year but began to pid( up towards the end. We have formed a link with Andy Marshall who runs a mobile bar company lo promote each otherfB services, whkh has brought in some adult parties. Staff Changes Sarah Walker- Centre Manager with effect from 11t Aprfl 2024 Gail Mardlin - Deputy Manager wrth effect from 1st April 2024 Caretakers David Slade's health remains stable, and he is slowty building back into taking on more work. David Doy continues to do maintenance tasks during his caretaking shifts. Abbey has reduced her regular caretaking IK)urs due to famity commttments. Caroline Swallow, our cleaner, also joined our Caretaking team in November 2024. Philip Swallow joined our Caretaking Team on 29th October 2024. Trustees Sadly, our longstanding Trustee Rose Hall passed away on 6th September 2024. Rose was a huge part of the Community Centre for many years, also running the Friendship Group. She will be greatly missed by all who knew her. Her funeral was held on 1st October 2024. and her wake was at the Centre.
THE OVAL (STEVENAGE) COMMUNITY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 (Xher 'The payroll system was moved to Moneysoft wlth effect from April 2024 and the1rf8 contract has been canlled. The new system is much more user-friendly. 'The Scottish Power account was in credit, and we were able to apply for a refijrnl of £797.22 in Juty 2024. Staff were avrdrded a 2.5% salary InCaSe. with effect from 1$t July 2024. "The regeneration of the Oval Area is still being worked on by SBC. I had a meeting to discuss the interior of our new building on 22nd August 2024 so the plans could be finalised to go out to tender. We await any further news via Stevenage Borough Council. 'We had a pri increase for all hire of 2.5% with effect from 1 Bt November 2024. "We were given an HCC Grant Of£50 to run a Communty Café over the colder months. The grant allowed us to pay for the room hire, energy costs, staff costs and covered all the refreshments we provided. café ComMend on 7th November 2024. initially opening every Thursday from 12.45pm - 3pm to provide fr light refreshments. As the session grew. we were able to extend it to a Tuesday from 6th February 2025 and a Saturday morning ¢Jnce a month from 8th February 2025, in which we provided a light breakfast and a takeavmy lunch bag. "We purchased a sum up machine in January 2025 so that we can take card payments during our ¢xvn events. "Michelle and Jean, our volunteers, kindly Corfinue to hold regular jumble sales for us and taklngs for this financial year were £1030.02 which is an Improvement on last year (£979,63). We continue to pass on unwanted jumble to Herts Air Ambulan. A big thank you to Michelle and Jean for all their hard work with rt only the jumble but manning stalls at our events. Events 2024 YRS the 50th Anniversary of Centre and All Saints Church. Therefore, we decided to hold some special events as part of our lebrationS- "On Frlday 5th April 2024 we held a Family Easter Disco, with LCB funding. This money provided a disco. crisps, drinks and a raffle. all free of charge. 96 people attended. -Tuesday 18th June 2024. we held an over 50's afiernoon tealdisco from 1 pm- 3pm. With LCB funding we paid for the dtsco. cream tea and refreshments. The Irish Network kindly provided volunteers lo do the catering, and we could not have done it without them. We provided 120 visitors with a free aftemoon. The mayor was in attendan. "Saturday 6th July 2024 was our Summer Fair from 11am- 2pm. The weather wasn't kind to us. and all activities were moved inside. We provided a giant inflatable football goal, kiddi go-carts. infiatable fun and a face painter all free of charge as they were kindly paid for by LCB funding. The turnout was quieter than usual, however all the stall holders did well. Kevin Bonavia attended, which was his first appearance as MP for Stevenage. We were also visited by the mayor. Past employees and current craft group members kindly pulled together to help us. "Tuesday 18t October 2024 t(NJether with All Saints Church, we had 8 Stall at stevenage Older Persons Day. We promoted all our groups and services, gave out home made cakes and craft goodies and fre8 Christmas cards. The event was I11 attended and a worthwhile 8xercise.
THE OVAL (STEVENAGE) COMMUNITY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 'Saturday 9th November 2024 together with All Saints Church held a Quiz Night. 'Saturday 7th December 2024 was tr popular Christmas Craft Fair from 11am- 2pm. Despite horrendous weather we were busy with 40 craft stalls. LCB kirKIty funded the Fe Painter, Santa and Santss Gifts so we were able to offer these free of charge. The Family Centre was a great support In runnlng free craft activities for children and helping ryth the Grotto. We had 2 stalls. manned by volunteers. 'Saturday 29th March 2025, together with All Saints Church we held a Quiz Night. 53 people attended. Income from all events throughout 2024125 was £1594.99 and expenditure brds £226.62, making an overall profit of £1368.37. A huge thank you to all th? staff. volunteern and trusteos for thelr dodlcallon and support throughout the year to provldg a wami. welcoming Contre for the coiixiiunlty."
THE OVAL {STEVENAGE) COMMUNITY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT The Oval (Stevenage) Community Associ*'on is a charitable company limited by guarantee registered with Companies House on 8th June 2011 as Company No. 07662038 and witri the Charity Commission on 20th December 2011 as charity r. 1145178. It was founded by the Trnstees of the Oval Community Association. registered charity . 270150, who are the guarantors, undertaking to pay £1 each if the company is wound up, with the express of tsking over the running of the Oval Comrnunlty Centre, The Oval, Vardon Road, Stevenage, from the unincorporated charty. The current Trustees are: Jeanette Thomas (chair) Paul Laurence Boielle Rose Hall RevereThJ Pete Orton (appointed 8 June 2011) {appoinled 8 June 2011) (resigned 21 October 2024) {appointed 3 November 2021) The trustees as noted above are also the guarantors and directors of the company. The Company being limited by guarantee, there are no directors. interest in share capital. All the directors of the company are also trustees of the charity, and t1r responsibilities include all the responsibilities of directors under the Companies Acts and of trustees under the Charities Act. The directors are members of the company The Directors of the Company have no Interest in any contract with the Company nor do they receive any remuneration for their service or personal expenses.
THE OVAL (STEVENAGE) COMMUNrrY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 FINANCIAL REVIEW AND FINANCIAL STATEMENTS a Transactlons and Flnanclal Posltion These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stskd in the relevant notes to these accounts. The acLounts have been prepared in accordance with the Statement of Recommended Practi. Accounting and Reporting by Charities appCable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 Juty 2014 and with the Charities Act Hon Tr•asurerf8 Report The ststutory accounts, prepared on an accruals basis. record that with income from lettings increased from the 202312024 year there was a small SujUS on the year of £1.926. This is the first surplus since the pandemic, indicating that lettings income is recovering folknving their collapse due to the pandemic. Energy costs increa1 from £10,795 to £11,358, m(Ye than twi the pre4Jkraine war level. In 2024r2025, wages in the year were £65,367, an increase of 11 % on the £58,815 of the previous year, reflectirvJ both an increase in activlty levels and in the wage rate4 the latter necessary to retain staff. Pre-pandemic, two thirds of the Centre's expenditure was accounted for by salaries. In 202412025 this percentsge was 70% in part to our on-going squeeze on all non-essential expenditure and in part to on-going staffing issues. Nine years ago. the Company h8d made a commitinent to pay Its lowest paid employees the Living Wage Foundation's living wage. In the 202012021 year, because of uncertainty about the future resulting from the pandemic, wages were frozen at the 201912020 level. In additK)n Company limited all dlscretionary expenditure to the bare minimum, in an effort to Stretch the Company's reseNes as far into the future as posslble. However, towards the end of 2021, in response to difficulties in recrulting caretaking staff, Iheir wage rate was raised to the Llving Wage Foundation fak, with a commitment to raising all staff to this rate, as a minimum. during 202212023. Nthich commitment was duty honoured, as It has been in subsequent years. including 202412025. In the 202512026 year the challenge will be to judge whether and by how much activities return to pre-pandemic levels and the resultant impact on the Charity's income and the resources available to cover expenditure, and this in tum will put pressure on those expenditure items over which the Company has control. which is primarity staff wages. accounting for some 70% of annual expenditure. This wage percentage can onty be sustained at the expense of investment in repair, renewals, fittings and freS and the like. in which there has been significant under-investment over the previous 5 years.
THE OVAL (STEVENAGE) COMMUNITY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Oval (Stevenage) Enterprises Ltd., which ran the bar at Communty Centre functK+ns, was set up by trustees and stsff rnembers of The Oval (Stevenage) Community Association's predecessor unincorForated charity as that charty's trading ami. The founders, who were Enterprises shareholders, donated their shares to the charity in the 2017r2018 and 201812019 years. However, Enterprises Directors decKled to suspend operations when the existing premises licen fell due for renewal at the end of summer 2021, as functions with bars were so infrequent that staffing them was uneconomic, and it is now a dormant company. The Company receives assistan each year Stevenage Borough Council, through leasing the Community Centre 8t a nominal rent The 201912020 annual report discussed at length the Borough Council's plans to sweep all the existing buildings, including the Communty Centre and All Saints Church, off the Oval site and then use developers to redevelop, squeezing a Communty Centre somewhere into an odd corner of the srte. As reported in 202212023, the current plan is to relate the Community Centre and Al Saints Church to a site north of its cuent location, with the Community Centre envisaged as 8 3 story building at the south end of the new site, with the main hall on the second floor not ideal from the Community Association's point of view. Discussions with the archrtects engaged by Stevenage Borough Councft to des*3n the new Communty Centre, and indeed the entlre area redevelopment, have concluded wilh the Borough Couneil looking to put the redevelopment out to tender. Even if the redevelopment goes to plan, it will be a couple of years yet before the new communty centre is complete. Linked to the redevelopment plans is the Community Association's lease of the Communty Centre, which ran out in 202112022, and which the Borough Councll have infomied the Association won't be renewed or extended except on a year-by-year basis. This is continuing to have a negative effect on tp Associats'on's prospects of obtslning more substantial grants, though this hasn't stopped tF Company from taking advantage of grants controlled by local Councillors, As mentioned in previous annual reports, the Community Centre shares the Oval complex with All Saints Church, an ecumenical partnership between the Methodist Church and the Church of England wlth 8 common entrance hall and shared toilets. A good working relationship with the officials and clergy of the two congregations, and especially the Church of England's full-time priest, makes for an easier life. He, with the support of the church's officials has been active in pursuing opportunities for cfroperative working. All Saints Church are in a stronger position than the Communty Association when it comes to the redevelopment, as the freehold of the church sFte and the building itself, are owned by an independent body representing the original founders of All Saints Church: that is the Church of England, the Roman Catholic Church and the Methodist Church. Indeed, discussions betsveen the Borough Council's lawyers and the Church's ownerfs lavryers are on%oing. Unb"l an agreement is aChed, there is signfficant potential to delay the redevelopment programme.
THE OVAL (STEVENAGE) COMMUNITY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 b Flxed Assets During the period April 2024 to March 2025 there were no additions to Fixed Assets. c Reserves Policy The level of unrestricted resenrfes held at the end of the 202412025 financial £114,15S which amounts to some 14 months income at the 202412025 rate. ear was n the 2015r2016 ar, as a result of the uncertainties about the long-term future of the Community Centre, and he increasin Commun. trend for the Com entre weather00 an trj have to call on its own resouros to keep the warm, the Directorstrtustees reviewed the reserves felt It prudent, by the tsme the redevebpment of The Oval precinct takes place, to ave In reserves a y.ear.s unrestncted Income. AccordinAty. the current level of reserves is more than that required by the current reserves policy. e issue with this polic ars, when the redevelopment of the Oval precinct wll take Is that for ttr he next 5 years" Although the si lace has a ground for the new buildin forecast to s ns are promising with wo# to stsrt on ays been rt before the end of 2025, the Oval re Ireparing the redevelopment could find itself once more ' kicked Into the long grass.. evelopment Is not yet a done deal and rf8he Borough Council's finances become over-stretched, the Oval The Com existing &any does not at present anticipate havlng to cease operation permanen ommuni replacement, albei Centre Is demolished slnce the redevelopment plans provlde not Ilke-for-like, but there wil! be disrupllon with windin operations in one building and windin them up In another, which m the replacement Centre may not be a£ie to accommodate all the exils ' down of concurrent and resulbng In some loss of revenue and increases in costs. Ing range of activities, At the beginning of the 202412025 financlal year, the Directors expected to have lo draw down the reserves by at least £19 500 to coveT the shortfall of Income over expenditure in the finanaal year as a resu of he afterffects of the Covid-19 pandemic. In the event, for the reasons outlined earfier, the OLrtcome over the year was a surplus of £1,926 llected in the modest increase In reserves. when the d Share Capltal The company is limited bv auarantee and therefore has no share capital e Responslbllitles of the trustees In relation to the financlal statements The Directors (who are also the charitys trustees) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the Directors lo prepare financial statements for each year which give a true and fair view of the state of financial affairs of the company and of the profit and loss of the company for that period. 10
THE OVAL (STEVENAGE) COMMUNITY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 In preparing tht)se financial ststements. the DY&tors are required to: - select suitable accounting FK)licw6 and then apply them consistenty,. - make judgements and estimates that are reasonable and pruden(. and - prepare the financial statements on the goirKJ concern basis unless it is inappropriate to presume that the company will continue in busine&8. stste whether applicable accounting standards and statements of recommended practice have been followed , subject to any material departures disclosed and explained in the financial statements. The Directors, as trustees. are also resFK)nsibJe for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply not only with the Companies Act 2006 but also the Charities Act 2011 and 2022. They are also responsible for safeguarding the assets of the c1ty and hen for t&ing reasonable steps for the prevention and detection of fraud arKI other irregulaiitses. In all the activities undertaken by the Company, the Directors in their role as charty trustees have been mindful of their statutory duty to tske into account the guidan on publrc benefft set out in The Charity Commission's Guidance Documents PB1 The Public Benefrt Requirements, PB2 Running a Charity and PB3 Reporting. The directors consider that for the year ended 31 March 2025, the c4)mpany Ivas entitled both to an exemption from a statutory audlt under section 477 of the Companles Act 2006 and under section 144 of the Charities Act 2011. HovEver, the Charities Act 2011 does require an independent examination and accordingly, the directors have appointed Karen Bunyan of Hargreaves Owen Ltd as Independent Examiner. In accordance with company law, as the charitable company trustees, the Directors cefy thaL' •so far as they are aware, there is no relevant Infomation of whlch the charitable companls independent examiners are unaware; and •as the trustees of the charitable company, they have taken all the steps that they ought to have taken a5 directors in order to make themselves aware of any relevant information and to establish that the company's independent examiner is aware of that infomation. f Method of preparation of accounts The trustees, in their capacity as directors,state that the accounts have been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 relating to small companies. P&,8d Paul Laurence Boielle Director and Trustee The Oval (Stevenage) Community Association 11
Independent examlnor's report to th• trusteas of Tho Oval (Stevenage) Community Association I report on the accounts of the company for the year ended 31 March 2025, which are set out on pages 14 to 23. Respectlve responsibilities of trustees and examiner The tnjstees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 and 2022 (the 2011 Act) and that an independent examination Is needed. Having satisfied myself that the charity is not subject to audlt under company law and is eligible for independent examination, it is my responsiblllty to: ' examine the acoounts under section 145 of the 2011 Act to follow the procedures lald down in the general Dlrections given by the Charity Commission under sectlon 145(5){b) of the 2011 Act • to state whether particular matters have come to my attention Basis of independent examinerfs report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consid8ration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees conceming any such matters. The procedures und8rtaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a Irue and fair view, and the report is limited to those matt8rs set out in the next statement. 12
Indepondant examln•rfs report to the trustees of The Oval (Stevenage) Communlty Association Independent examinevs statement In connection wilh my examination, no matter has come to my attention: {1) which gives me reasonable cause to believe that in any material r98pect the requirements: . to keep accounting records in accordance with sectlon 386 of th8 Companies Act 2006 and to prepare accounts which accord with the accounting records, comply wlth the ac(x)unting requirements of section 396 of the Companies Act 2006 and with the melhcxls and principles of the Statement of Recommended Practi. Accounting and Reporting by Charities have not been met or (2) to whlch, in my opinion, attention should be drawn In order to enable a proper understanding of the accounts to be reached Karen Bunyan FCCA Hargreaves Owen Ltd Chartered Certified Accountants Red Sky House Fairclough Hall Halls Green Weston Herts SG4 7DP The date upon which my opinion is expressed Is: 11 2025 13
Th• Oval (Stevenage> Communlty Associatlon Statsment of Flnanclal Aetfvities for the year ond•d 31 March 2025 Umestrlctsd Rostrlcted Total Last Year Funds Fund5 Funds Total Funds 2025 2025 2025 2024 Voluntary Income Athili88 for genwaling funds Investment Income .112 6.112 87,800 1.579 1.579 74.042 1.114 Tolal Inclxnlng rnsources 89.379 6,112 95,491 76.018 Costs of charRable acllvllles Gov•man eosts 87,915 4.720 92,635 930 Total rnsources •xpended 88,845 4.720 93,665 87,017 Net (outgolng) I Incomlng resour before transfers b•tween funds Gross transfers betweon funds N•t (outgoing) I In¢omlng resources bofore Othor recognlsed gains and losses Net movoment In funds 1.392 1,926 {10,999) 1,392 1.926 (10.999) 1.392 1.926 (10.999) Recon¢lllation of funds Total funds bmught fonyard 113.662 2,127 115.789 126.788 Tolal Funds carrled forward 114196 3.519 117.715 115.789 The net movement in funds referred to above is the net outgoing resources as defir n the Statement of Reo)mmended Prackn for A<uunting and ReportirKJ iued by the Charity Commi88ion for England & wa and 18 renCld to the totsl funds as sho in th8 Balano Sheet on page 16 as requirad by the said 8tatement. All aedvltles deriv• from conllnulng op•ratlon8 The n•)tos on page8 15 to 22 form an Int•gral part of the80 accounts. 14
Thè Oval {Stovonay) Communlty Assoclation Balan Sheet as at 31 March 2025 2025 The a$s•ts andllabllldos of th• eh•rfty.' Flx•d a88•ts Intahglble 8S8ets 10 10 TaNJbi le at8 Currnnt as••ts Debtors Cash at bank and in hand rotai cumtassots Credltors:. amounts du8 ¥thin one year 7.181 113.862 121.043 117.327 123.333 10 {5,635) (5271) Net curront assets 117.698 115.772 Totalass•ts less cur•nt Ilabilitles 117.715 115,789 Nat assets l (Ilabilitles) 117,715 115,789 rho funds of the eharty.. Unrestricted Incomo funds Unrestricted revenue a¢cumulatsd funds Total unmtrlcted fund8 114.196 113.662 114.196 113,662 Restrlctèd In¢ome funds Restricted revenue accumulated funds Total r¢8tri¢ted funds 3.519 2,127 3.519 2.127 Total ¢harlty funds 117.715 115.789 The company 18 entitled lo exemption from audtt under SectM)n 477 of the Companles Act 20Ix for the year ended 31 March 2025. The members have not required the tsjmpany to obtain an audtt of its financi81 statements for the year ended 31 March 2025 in accordance wtth Section 476 of the Companie5 Act 2006. The (liredors ackned96 their responsibrfitles for. la) ensuring that the company keeps accounting records vthich comply with Sections 386 and 387 of the Companie5 Act 2006 and (b) preparing financial statements %thich give a true fair view of the stale of affairs of the ccffipany as at Ihe end of each financial year and of its profft or loss for each financial year in accordance with the requirements of Section 394 and 395 and whith otherwise comply with the requirements of the cpanIeS Act 20CE relating to financral statements so far as applicable to the ts)mpany. The financial statements have been prepared in acC(Kdan wilh the special provisions of Part 15 of the Companies Act 20C6 relating to Small rA)mpanres. P Boielle Dlrector Approv•d by th• board of tru8te88 on Tha notès on page• 16 to 23 forni an Int•gral part of these accounts. 15
The Oval (Stevenay) Communlty Assoclatlon Notes to thè Accounts for the year ended 31 March 2025 1 A¢countlng pollcles Basis of preparatlon of th• a¢counts The Charity constitutes a public benefft entity as defined by FRS 102. The financial stateMts have been prepared in accordanc8 valh Accountlng and Reporting by Charities: Statement of Reccthmended Practice applicable to charflles preparing thelr accounts in accordance wlth the Financial Reporting Standard appllcable in the UK arKI Republic of IrolarKI (FRS 102) issued on 18 July 2014, the Financlal ReportlrKJ Standard applicable in the UK and Republlc of Ireland (FRS 102), the Charftk$ Act 2022, 8nd UK Geralty Accepted Prath as It applies from 1 JarKJary 2015. The financial Statements w¢pared on a golng COnM basis. A8sets and liabilllles are inillally recognlsed at historlcal cost or transaction valué unless othenfyise stated In Ihe rdevant &counting The significant accounling pollcks applied In the preparatsn of these financial statements are out below. Thest policies have been consistently appll8d to all years pr•sented urless othwwlse stated. Incomlng Resoureos Incomlng resources are acCOted for on a recelvable basls l.e. they are induded if the dale receivable tslls %*ithin the rknd covered by these acco1& Investment Income Bank Interest received Is Induded on an actual receipts basi8. Recognition of liabllltles Liabilities are recognisl on the accrnals basis in accordance th nomal accounting prlncq)les, modffied where necèssary in accordan with the guldance given in the Statem&rt of RemeIed Pracllce for Accountlng and Reporting (revised June 2008) Issued by the Charity Commissioners for EnglarKI & Wales . FIX assets and dePrati.0n Upon InrporatIOn, frAed assets vRre transffftd from the unncorporated associatlon at nil book value - consequently In resFect of these assets no depreclatiffi has been charged in thls accountlng Flxed Assets that have teen purchased in subsequent years are stated at cost less depreclation, Depredation has been provided at the folltxtylng rates in order to write off the assets (less th8ir estimated residual value ) over thelr estimated use1 economic lives. Fixtures, frttlngs & office equlpment 25% straight line Taxation As a registered charity, company Is exempt from Income and corporation tax to the extent that its income and gains ar6 applicable to charitable purposes only. Value Added Tax is not rsxoverable by the company , arKI is therefore Included in the relev8nl costs in the Statement of Financial Activities
The Oval (Stovanage) Communlty Asso¢lation Notes to th• kn¢ounts for the year ended 31 March 2025 Funds Structure pollcy The charity maintairts a general Unrestrict fund which represents fvnds whith are expendable at the discretion of the trustees in furtherance of the obj'ects of the chaiity. Sh funds may be held in order to finance both working capital and Caal irNestmenL Restricted fijnds have bn provided to the charity for parbcular Pufposes, and it is the policy of the board of trustees to carefully the monitor the application of those funds in accordance with the restrictions pCed upon them. There is no formal policy of transfer beiwEen funds or on the allocation of funds to designated funds, other than that described aljove. Any other proposed transfer between funds would be considered on the particular circumstances. Transitlon to FRS 102 No restatement of items has been required in making the transibon to FRS 102. The transltion date was 1 April 2015. 2 Winding up or dlssolutlon of the charity If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fijnd shall be transferred to some other charitable body or bodies having similar objects to the charity. 3 Surplus for the flnanclal year 2025 2024 This is stated after crediting : Revenue from ordinary activities 93.912 74,904 and after charging: Reporting Accountanfs fees 930 930 Funds belonging to the charity have not been used for the purchase of insurance to Protect the charity from loss arising from the neglect or defaults of its trustees,employees or agents, or to indemnify its trustees,employees or agents, against the consequences of any neglect or default on their part. 4 Statemont that no expenses w•r• pald to trustees or ¢onn•ct•d persons No expenses were paid to trustees or persons connected with them. 5 Analysls of support costs An analysis of support costs by activity (Appendix 2) is included in the detailed schedule to the Statement of Financial Activiti. 17
Tho Oval (Stevenage) Communlty Assoclation Notes to the Accounts for the year ended 31 March 2025 6 Staff Costs and Emoluments 2025 2024 Gross Salaries 65,367 58,815 Numbers of full tlme employoes or full tlm• equlval•nts 2025 2024 Engaged on charitable acllvities There were no fees or other remuneration paid to the trustees 7 Intanglble Flxad Assets Shares In group undertaklng Cost At 1 April 2024 Additions At 31 March 2025 10 10 10 Ordinary shares with a nomlnal value of £1 each in The Oval (Stevenage) Enterprises Ltd - now a dOrnnt company ceased trading on 5 April 2022 31 March 2019. were donated to the charity in the year ended The charity n¢)w holds 100% of the share capital of The Oval (Stevenag8) Enterprises Ltd 8 Tanglble flxed assats Flxtvres. flttlngs & offlce equlpment Assel cost At 1 April 2024 Additions Al 31 March 2025 19,285 19,285 AGGumulated depreclatlon At 1 Aprfl 2024 Charge for the year At 31 March 2025 19,278 19.278 Net book value At 31 March 2025 At 31 March 2024 18
The Oval {St•v•nago) Communlty Assoclallon Notos to tho kcounts for tho y•ar •ndod 31 Mah 2025 9 Dobtorn 2025 2024 Trade debto 6.IXI6 7,181 6.006 7.181 10 Crndltor•: amounts falllng du• wllhln one yoar 2025 2024 Tradè iyeditors A¢¢nJed 6ypen8e8 PAYE and Nl Deferrod Income and grants In athMn¢e 638 1,680 878 2.075 2,318 1.188 1.925 5.271 11 Analys1# of tho Net Mov•ment In Fund$ 2025 Net mvemènt in funds Statementof Flnancial AGtsvllies Net resourcas applied C functiond fLxed assets 1.926 (10.999) Not m0vern In funds avallabh for fuiure actMII•s 1.926 10.999 12 Partkularn of Individual Funds and anaty818 of assets and Ilob11111•8 Y•presontlrrfJ funth At 31 March 2025 Unr•strlcW Deslgnated Restrl¢ted Tot•1 funds fund8 funds Fund8 Intanglble Fixed Assets Taryible Flxod Assets Curront Assets Current Llabilitie8 10 10 119,814 (5,635) 3,519 123.333 (5.635) 114,196 3.519 117,715 Funds at 2024 Movements Tramfers Betsveen Funds at 2025 as b&low Unrestrithd Flre MaF5hall TrainlrKJ LBC- First Aid SBC thrlstsnas Fair LCB Trainirvj SBC Xmas Falr LCB Fundlng 2024 SBC Display Board LCB Printer SBC Summer Fatr LCB Aftemoon Tea HSF WamIspa Café 113.662 581 (47) 114.196 60 (20) (12) 12 951 951 (30) (1.159) (134) 1,054 178 134 300 200 73 300 200 {3.365) 1,635 115,789 4,767 117,715 19
The Oval (Stsvenage) Communlty As80clation Notes to tho Accounts for the year ended 31 March 2025 13 Endowment Funds The charty had no endowment funds in Ihe year ended 31 March 2025 14 Share Capftal The charty is incorporated under the Companies Act 20[ and is limrted by guarantee, member having undertaken to contribute such amounts rK>t exceeding one pound as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter Thore are 3 members of the company (2024 4) 20
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Th• Oval (St•venage) Communlty Assoelallon Seh•dul• to the Stalemont of Flnan¢lal Athlll•s for tho y•ar ended 31 March 2025 Unr•strfct•d R•strlct•d Total Prlor rIOd Fund8 Fund• Fund8 Total Fund 2025 2025 2025 Ineomlng R•sour¢es Voluntary In¢ome Grarts l¢ga¢l•s and don•tlon¥ Gov•rnmont and publ1¢ bodl•s In¢omlng mource8 of • rnv•nue nalurn Grant income T•fal Total Grants.L•ga¢i•$ & Don•tlon$ R•¢•lved Glfts In klnd, don•l•d rvIC&S and facllltl•s Gits and Donon$ Totsl 131ft In klnd, donatod 8•Nle•s and la¢ilitl•¥ Total Voluntary In¢ome Imtlos for generallng fund• 6,112 6,112 112 6.112 862 6,112 6,112 Fundraknlng a¢liwtres Total of actlvltl88 for g•n•ratlng funds Bank d•posil interest rrfeived 87.800 87,100 1,579 87.800 87,8011 1,S79 74IM2 74.1)42 1.114 Total knv•$lment Incomo 1,579 1,519 Total Incomlng R•sourco8 89,379 6,112 96.491 76,018 Costs of g•neratlng funds Coffee btr eosts Grant oygendFture 73 4,787 176 47 4.720 720 120 176 Staff ¢o*ts h¥ ¥upport of ¢harft•bh a¢Hvlt1•5 Salarigs- Adminkglrative Stsff P•nslon Contslbubons- admini¥lTativo staff 33.617 1,321 33,617 1,321 38.081 1.554 39,635 Travel and $ubsiStenca Conferentss & Cour8eS 12 12 12 12 12 12 Prnnl$•s Co•ts Rènt and rates Payable Insurance Llght and ht Cl&aning Premlses repaiTS and renew818 Aami systam maintenance Cafvtakef 1,509 982 11.358 9,649 1,030 640 1.445 11.356 9,649 1,030 10.796 9.913 724 563 14,793 39,174 20.967 46.133 46.133
The Oval (Stevenage) Communlty Assoclatlon Schedule to the Statoment of Financlal A¢tlvldes for the year endod 31 March 2025 Unrestrlct•d R•8tricted Tolal Funds Funds Funds 2025 2025 2025 Prlor P•riod Total Funds 2024 Telephone arKI intemat Postsge Stalionery and prinling Glfts and donallons IT S>Btems malntenance Advertising and PR Sundry expenses Bad debts 1,539 1,539 1.539 39 1256 121 1,977 1.334 1.334 2.004 466 763 5,352 5.352 5,695 Prnf•sslonal ftss In support d¢harltablo actMU•s Legal fees Licences and pem)its Companies House 1,360 1,360 1,395 1.360 Other support costs Depreclakn of assets used for charitable purposes Total Support costs 87,915 720 92.635 86.087 Total Expended on Charltable Actlvities 87,915 4,720 92,635 Governance costs that are not diTt management functlons inherent In generatlng funds, service delfvery and pmgramme or project work Specific governance costs Reportlng Accountanfs Fees 86,087 930 930 930 Total governance costs 930 930 930 23