VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023
Company Registration Number: 07886190
Registered Charity Number: 1147104

VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANfEE)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023
CONTENrs
Page
Trustees, Annual Report
Independent Examiner's Report to the Tn￿teeS
9-10
ststement of Financial Activities
BalanLe Sheet
12-13
Notes to the Financial Statements
14-23
MANAGEMENT INFORMATION
Detailed Income and Expenditure A¢¢ount - Total Funds
24

Page I
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED
31 MARCH 2023
The injstees are pleased to present their annual report and unaudited Financial Slat¢menls for the year
ended 31 March 2023, which are also prepared to meet the requitements for a Dir¢ctors' Report and
Financial Stat¢ments for Companies Act purposes.
The Financial Statements comply with th¢ Charili¢s Act 2011, the Companies Act 2006, the
M¢morandum and Articles of Association and Accounting and Reporting by Charities: Statement of
Rc¢omm¢nded Practice applicable to charities pr¢paring their Financial Ststements in accordance
with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102).
REFEREiYCE AND ADMINISTRATIVE INFORMATION
Cbarity Name:
Velmore Community ASs￿l8tiOn
Cbarity Registration Number:
1147104
Company Registration Number
07886190
Principal Office:
Velmore Centre
Falkland Road
Eastleigh
Hampslll're
S053 3GY
Regtstered Offlee Addres#:
Velmore Centre
Falkland Road
Eastleigb
Hampshire
S053 3GY
The Truste
The trust¢¢s who served the company during the year were ￿ follows:
Mr G Riddoch
MrAJWatt
MrRADibb
Mrs K Hatchett
Mrs L Ross
Chair
Treasurer
Secretary:
To be advertisedlappointed

Page 2
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANfEE)
TRUSTEES, ANNUAL REPORT
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 21123
REFERENCE AND ADMINISTRATIVE INFORMATION (CONTINUED)
Our Advisors
Ind¢p¢nd¢nt Examin¢r:
Abraham & Dobell
230 Shirley Road
Southampton
S015 3HR
oWE￿IVEs AND ACTIVITIES
The charitable company's objectives and principal ￿tiVitieS are:
to promote the benefit of the inhabilants of th¢ Velmore Estate and North End Copse in the
borough of E&stleigh without distinction of scx, sexual oricntatioN age. disability. nationality,
race or of wlitical, religious or other opinions. by association together the said inhabilants and
the statutory authorilies, voluntary and other or8anisations in a common effort to advance
education and to provide facilities in the interests of social welfare for recreation and
leisure-time occupation with th¢ objKt of improving the conditions of life for the said
inhabitants"
to establish or secure the establishment of a Community Centre and to maintsin and manage
the same (whether alone or in co-operation with any statutory authority or other person OT body)
in furtherance of the Objects: and
to promote such other charitable purposes as may from time to time be detern]ined.
The charitable company shaIl be non-party in politics and non-sectsrian in religion. The area of
b¢nefit shall be Velmore Estate and North End Copse in the borough of E&sti¢igh. This area is
bounded by Leigh Road, Bournemouth Road. Chestnut Avenue and the M3.
Public Benefit Statemenl
All of our activities are undertaken to fijrther ourcbaritable purpK)ses forthe public benefit. In shaping
our objectives and plam)in8 our activities. the trustees have considered the Charity Cornmission's
guidance on public benefit including the guidance 'Public Benefit: Running a Charity (PB2)'.

Page 3
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIIIIITED BY GUARANTEE)
TRUSTEES* ANNUAL REPORT
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2023
ACHIEVEMENTS AND PERFORMANCE
Covid 19
Th¢ year has been free from disruption due to the Covid pandemic of previous years. However, the
pandemic continued to affect the Centre by the change of lifestyles it brought about. Sorn¢ clients
were still reluctant to mix socially and some business hiTes had adapted to new ways of working
without physi¢al meetings. This was exasperated during the year by incTeasing costs affecting
people's budgets.
Centre Management
The C¢ntre management structure continu¢d to prove a successful working model for the Community
Association. The current Centre Manager was appointed in July 2021 and Sue runs the Centre
effectively and efficiently and is supported by a cohesive and dedicated team of staff and volunt¢¢rs.
The staff in the key support roles of admin assistant and café manager remained unclHnged during
this reporting period and so the Centre has benefited from an experienced staff team.
Buildings Maintenanee
The programme of routine maintenance at the Centre was completed during the year and the
inspection of the emergency lighting system highlighted that a number of units failed to meet the
statutory requiT¢Enents. A programme of installing replacement fittings was undertaken and all the
lights now meet the test requirements.
The hot air heating system in Belmont Hall was replaced with a Tadiator system by an approved Gas
Safe contractor. The previous heating system was obsolete and unreliable and had caused significant
disruption to VelmoTe Preschool who use the hall. The project was supported by a Hampshire County
Council grant and a number of contributions from the local community. The Association is very
grateful for this support which reduced the overall cost to the Association by half.
Health & Safety
Health and safety incidents and accidents are reported to the Trustee Board. Th¢re have been 3 minor
accidents with small cuts or b￿lSing but notbing that required anything more than on-the-spot
treatment and no corrective actions for the Centre were identified.
Business Development
The focus of business development during this period has been to return the income streams to the
pre-pand¢mic levels. The hire income has increased and a major contribution to this has been due to
a higher level of social media presence advertising the activities and also the increased hire of looms
for health-related ￿￿es.
The level of engagement of the Association with the community has also Iw] enhanced durkng this
period. A new Tegular meeting "The Social Cafe" was started on a Thursday aftemoon with the
intention of providing a friendly space for people to come for activity OT just for chat and r¢freshment.
l.his has drawn in some residents fTom local supported accommodation. Ther¢ has. been a program of
social one-off events such &q the c￿lStmaS Fair and a Queen's Jubilee Tea which has also brought
good numbers into the Ccntre. The Centre has also Tun events in support of otheT Charities Including
Guide Dogs and Macmtllan Cancer support and these have a high level of support from the
community.

PAg¢ 4
VELMORE COMMUIYITY ASSOCIATION
{A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, ANNUAL REPORT
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2023
ACHtEVEMENfs AND PERFORMANCE (CONTIIYUED)
The number of community led group5 has increased over this past year with Bingo. Table Tennis,
Qui2 and Knit and Natter all being rl￿ weekly or monthly by members of the community with good
levels of community attendance.
The agreement with Velmore Church to operate the building ended within this year an￿ following a
Teview, a new agreement was signed off for a further l O years.
Cherry Tree Cafe
The Cherry Tr¢e cafe continues to be reco￿1Zed as a key lo¢ai resour¢e for people who live on the
estate. The main demand Dn the cafe space continues to be as a place to meet-up and socialize. This
is particularly trne for the older generations. The Trustees continue to monitor the cost of this
PTovision to the Association and seek ihrough the management to maximize the income but recogniz¢
its importanc¢ as a social need. Dwing the year, to reduce the subsidy of the cafe from the other
income streams, the number of paid staff hours in the cafe were reduced but replaced by volunteers.
FINANCIAL REVIEW
The ch￿ltable company increased its income to £80,348 compared to £57,306 in the previous year.
This was due to increased charitable activities in the year compared to the year ended 31 March 2022.
Expenditure also in¢r¢ased to £71,507 cornpared to £49,041 in the year to 31 March 2022.
As a resulL the chariiable company achieved a surplus in the year to 31 March 2023 of £8.841
(2022 - £8,265).
The financial aim of Velmore Community Association during this period was to rebuild the income
following the impacl of Covid. Ai the outset of the Ye￿ there was a cautious approach as at that time
many users were r¢luctant to r¢turn. Th¢ P&L budget for the year predicted a small loss but this has
been turned into a profit due to higher levels of sales income than were anticipated. There have also
been a number of grants and donations which have supported the activity of the Association and the
rinances are In a healthy position to consider some impTovements to the building and ways to further
engage with the community.
Reserves
Prior to Covid the Trustees had an aim to create a reserve. of 3 months, turnover over the following
two years. This was set aside during the Covid pandemic but the Trustees recognised the importance
of this and fOrn￿lised a reserves policy during this period.

Page 5
VELMORE COMMUNITY ASSOCIATIOTrI
(A COMPAIYY LIMrrED BY GUARANfEE}
TRUSTEES, ANNUAL REPORT
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2023
FJNANCIAL REVIEW (CONTINUED)
Inve$tm¢nt Policy
In accordance with the reserves policy a sum of £15,400 was put into a Coryorate Instant Deposit
account with the Co-op.
PLANS FOR FUTURE PERIODS
To continue to engage with the community and to consider new ideas and initiativ¢s to promote
Velmore Centre with the local community.
To investigate the employment of a community engagement peTSOn.
To look for more opportunities for 8ocial engagement groups by community volunteers.
To continue to develop initiatives and services to refl¢¢t the needs of lo¢al residents and
business communities and to be aware of the potential Competition for these from other nearby
facilities.
To build vn the reputation of the V¢lmoTe C¢ntr¢ ￿ a hub for h¢alth and wellbeing activities in
the community through development and promotion of seTvices.
To investigate the provision of an additional 'health room, lo allow mor¢ health-r¢lat¢d services
to delivered on the estate.
To Continue to promote our Café and reach out to a broader Tange of ¢li¢ntele with targeted
menus and offers.
To continue to maintain links and work with local partners.
lo work closely with the local Li)-opcrative Store who have agreed to have Velmore
Conunuwty Association as their Charity Partn¢r" in the next fll)ancial yeaT.
To continue to work with Fedex who donate community volunt¢¢r hours to support
maintenance. particularly at Belmont Hall.
To conlinue to monitor the hire Tates and compare with the rates of similar organisations in th¢
aTea to ensure we remain competitive in this market.
To review all service contracts and reguJaT suppliers to ensure that we are receiving the best
possible rates available. and to nlake clwlges where improvements can be obtsined.
To inv¢stigal¢ the upgrade of the lighting within the Centre to reduce energy consumption.

Page 6
VELMORE COMMUNITY ASSOCIATIOIY
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES9 ANNUAL REPORT
{CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Gov¢rning Doeumcnt
The OTganis<ltion is a charitable company limited by guarantee, incorporaÉ¢d on 19 D¢c¢rnber 2011
and reglstered as a charity on 3 May 2012. The company was estsblish¢d under a Memorandum of
Association which established the obj¢¢ts and powers of the charitable company and is governed by
its Articles of Association. Anybody can apply to the Board of Directors to become a member of the
charitable company and each member is Tequired to contribute £1 Èn the event uf the charitsble
company winding up.
The Association works within current, relevant legislation, in particular Health and Safety at Work
Act 1974, Employment Act 2001, Charities Act 2011, Companies Act 2006. Data Protection Act
1988, together with appropriate guidance including Charities Statement of Recommended l¥actice
(SORP (FRS 102)) and European Working Time Directiv¢.
Recruitment and Appointment of the Trnstees
The directors of the company are also charity trustees foT the puryoses of charity law.
The trustees are appointed by membeTS' agreement at an Annual General Meeting. A third of the
directors shall retire (but may be re-appointed) by rotation at each Annual General Meeting. Trustees
have not been paid any remuneration for their roles as Trustees.
Trust¢e Induction and Training
Trusiees are reurui￿d and appoinied in accordance with the Articles of Association. Induction and
training of new trustees is aTranged by the Board on an individual basis.
Risk Management
The trnstees have examined the major strategic, business and operational risks which the charitable
company faces and confinn that systerns have been established to enable r¢gular reports to be
produced so that the necessary steps can be taken to lessen these risks.
Organisational Structure
The tr￿SteeS of Velmore Community Association meet 6 times a year, ensuring that any decisions are
agreed at a quonlln meeting of the Board of Trustees. The Board of Trustees, at the date of signing
this Report, comprised 5 trustees. The trustees come from a variety of Professional backgrounds
relevant to the work of the ¢haritsble company. The tTUStees delegate day to day responsibility for
the running of the organisation to Senior Executives who are responsible for delivering services.

Page 7
VELMORE coM￿￿Nf￿ ASsOc￿TIo1y
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, ANNUAL REPORT
(coNrINUED)
FOR THE YEAR ENDED
31 MARCH 2023
STRucfuRE, GOVERNANCE AND ￿AGEMEN[ (cowriNUED)
Related Parties
Velmore Community Association collaborates with a number of key parties to ensure the charltable
company meets its objectives. The key parties are:
Vivid Homes
Eastleigh Borough Council
Chandlers Ford Parish Council
Co-operative Stores
Velmore Friendship Group
Velmore Church
One Community
Key Mrlnagement and Personnel Remuneration
The trustees consider the Board of Trustees and the Senior Management Team comprise the key
managycment personnel of the charitable company in charge of directing and controlling the charitable
company and running and opcrating th¢ ¢harity on a day to day basis.
All trustees give their time freely and no remuneration w&s paid to trustees in the year.
'rhe pay of the Senior Management Team is reviewed by the trustees periodically on the basis of the
perfornlance of the individual concerned and the charitable company as a whol¢.
RESPOIYSIBILITIES OF THE DIRECTORS
The charitable company's directors (who are trustees for the purpos¢s of charity law) are responsible
for preparing an annual report and Financial Statements in accordance with applicable law and United
Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the directors to pr¢pare Financial StateM￿ts for ¢ach financial period, which
give a true and fair view of the stat¢ of the affairs of the charitsble company as at the Balance 8heet
date and of its incoming Tesources and application of resourtts. including income and expenditure,
for the fllwLcial period. In preparing those Financial Statements the directors are required to:
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charities SORP IFRS 102).
make judgements and estimates that are reasonable and pn￿ent.
state whether applicable UK accounting standards have been followed, subject to any material
departures disclosed and explained in the Financial Statements. and
prepare the Financial Statements on Ihe going concern basis unless it is inappropriat¢ to
Presume that the charitable company will ¢ontinue on that basis.

Page 8
VELMORE COMMUNITY ASSOCIATION
(A COMPAIYY LI￿lTED BY GUARANfEE)
TRUSTEES* ANNUAL REPORT
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2023
RESPONSIBILITIES OF THK DIREcfoRS (CONTINUED)
The directors are responsible for keeping proper accounting records that dis¢los¢, with reasonable
accuracy at any time, the f￿ancIal position of the charitable company and to ¢nable them to ensure
that the Financial Staten]ents comply with the Companies Act 2006. The directors are also
responsible for safeguarding the assets of the charitable company and, hence, for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
The directors are reswnsible for the maintenance and intrgrity of the corporate and financial
infornialion included on the charitablc company's websile. Legislation in the United Kingdom
governing the preparation and dissemination of the Financial Slaiements may diff¢r from legislation
in other jurisdictions.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provAsions applicable to companies entitl¢d to
the small companies exemption under the Companies Act 2006.
Approved by the trusteu on 16 November 2023 And slgned on tbelr behalf by:
G RIDDOCH
CHAIR
A WATT
TREASURER

Page 9
INDEPENDENf EXAMINER'S REPORT
TO THE TRusfEES OF
VELMORE COMMuNrrY ASSOCIATION
(A COMPAI%Y LIMITED BY GuAR￿EE}
FOR THE YEAR ENDED
31 MARCH 2023
I report to the charity tntstees on my examination of the Accounts of V¢lmoTe Community
Association (the Company) for the year ended 31 March 2023.
RESPONSIBILITIES AND BASIS OF REPORT
As the charity's ts1￿ of the Company (and also its directors for the purposes of company law) you
are responsible foi the preparation of the Accounts in accordance with the requirements of the
Companies Act 2006 ('the 2006 Act,).
Having satisfied myself that th¢ Accounts of the Company are not required lo be audited under Part
16 of the 2006 Acl and are eligible for independent examination, I report in resp¢¢t of my examination
ofyour charity's Accounts as Carried out under section145 of the Charities Aci 2011 ('the 2011 Act,).
In carrying out my examination I have followed the Dir¢¢tions given by thc Charity Commission
under section 145(5)(b) of the 2011 Act.
INDEPENDENT EXAMIIYER'S STATEMENT
I have completed my examination. I confinn that no matters have come to my att¢ntion in connection
with the examination giving me cause to believe:
accounting re￿rdS were not kept in respect of the Company as required by section 386 of the
2006 ACL
the Accounts do not accord with those records.
the Accounts do nol 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
applicabl¢ in the UK and Republic of Ireland (FRS 102)).

Page 10
INDEPENDENf EXAMtNER'S REPORT
(Co￿r￿￿ED}
TO THE TRusfEES OF
(A COMPANY LIMrrED BY GUARANTEE)
FOR THE YEAR ENDED
31 MARCH 2023
INDEPENDENT EXAMINER'S STATEMENT (CONTINUED)
I have no conc¢rns and have come across no other matters in connection with the examination to
which attention should be drawn in the report in order to enable a proper understsnding of th¢
Accounts to be reached.
16 Nov¢mb¢r 2023
D J MANT FCA
ABRAHAM & DOBELL
Chartered Aeeountants
230 Shlrley Rovdd
Southampton
S015 3HR

Page 11
VELMORE COMMUNITY ASSOCIATIO
(A COMPANY LIMITED BY GUARANTEE)
STATEMENf OF FINANCIAL ACr￿lTIEs
(INCORPORATING INCOME AND EXPENDITURE ACCOUND
FOR THE YEAR ENDED
31 MARCH 2023
2023
Unrestrieted Restrieted Totr41
Funds
Fundj
Funds
2022
Total
Fund8
Notes
INCOME
Donations and legacies
Charitable aclivities
Other trading activities
Coronavirus sch¢m¢s and relief
17.134
62,769
445
17.134
62,769
445
16,060
37,806
525
2,915
TOTAL INCOME
80,348
80,348
57.306
EXPENDITURE
Charitsble activities
71,507
71,507
49.041
TOTAL FXPFNDITURE
71,507
71,507
49,041
NET INCOMEI(EXPEIWITUREy
NET MOVEMENTS tN FUNDS
FOR THE YEAR
8.841
8,841
8,265
RECONCILIATION OF FUNDS
Total funds brougbt forward
43,652
43.652
35,387
Total funds carried forward
£52,493
£52,493 £43,652
The Ststement of Financial Activities includes all gains and losses recognised ID the year. All income
and expenditure derive from Continuing activities.

Page 12
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMrrED BY GUARANTEE)
BALANCE SHEET
AS AT 31 MARCH 2023
Notes
2023
2022
FIXED ASSETS
Tangibl¢ fixed ass¢ts
2,336
3,347
TOTAL FIXED ASSETS
2,336
3,347
CURRENT ASSETS
Debtors
Cash at bank and in hand
io
6,055
48,863
5,355
38,612
TOTAL CURRENT ASSETS
54.918
43,967
LIABILITIES
Creditors.. Amounts falling
due within one year
4,761
3,662
NET CURRENT ASSETS
50,157
40,305
TOTAL ASSETS LESS CURRENT
LIABILITIES
52,493
43,652
ET ASSETS
13
£52.493
£43,652
THE FUNDS OF THE CHARITABL
COMPANY
Unrestrict¢d income funds
14
52,493
43,652
TOTAL CHAIUTABLE COMPANY FUNDS
£52.493
£43,652

Page 13
VELMORE COMMUNITY ASSOCIATIOY4
(A COMPANY LIMITED BY GUARANTEE)
BALINCE SHEET
(CONTINUED)
AS AT 31 MARCH 2023
For the year end￿ 31 March 2023 the charitable company was entitled to ¢xemption from audit under
section 477 of the Companies Act 20(K) rclating to small o)mpanies.
Directors, Resp)nsibilities:
The directors have not required the company to obtain an a￿lIt of its Accounts for the year in
question in accordance with section 476. and
the directors acknowledge their reswnsibilities for complying with thc requirernents of the Act
with Tespect to accounting records and the preparation of Accounts.
The directors have prepared Financial Statements in accordance with the special provisions of Part
15 of the Companies Act relating to small companies which constitute the annual Financial
Statements required by the Companies Act 2006 and are for circulation to m¢mbeTS of the charitsble
company.
The notes on pages 14 to 23 fomi part of these Fi[W￿la1 Statemcnts.
Approved by the trustees on 16 November 2023 and slgDed on their behydlf by:
G RtDDOCH
CHAIR
AWA
TREASURER
CoMp￿Y Registration Number: 07886190

Page 14
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANfEE)
NOTES TO THE FINANCIAL sfATEMENrs
FOR THE YEAR ENDED
31 MARCH 2023
ACCOUNTING POLICIES
Ch¥drity Information
Velmore Community Association is a charitable company established under its Memorandum
and Articles of Association and registered with the Cliarity Commission and Companies House
in England and Wales. The principal address is Velmore Centre, Falkland Road, Eastleigh,
Hampshire, S053 3GY. The charitable company is a public benefit entity.
The principal accounting policies adopted, judgements and key sources of estimation
uncertsinty in the preparation of the Financia] Slatements are &$ follows:
(a) Basis of Prep¥dration
The Financial Statements bav¢ been prepared in acconlance with Accounting and
ReportAng by Charities: Ststement of Recommended Practice applicable to charities
preparing their Financial Statemcnts in accordance with the Financial Reporting Standard
applicable in the UK and Republic ol I￿land (FRS 102) - (Charities SORP (FRS 102)),
the Financial Reporting Standard applicable in the UK and Republic of Ircland (FRS 102)
and the Companies Act 2006.
The Financial Statements are prepared in sterling, which is the fi￿ctiOnal curr¢ncy of the
charitsblc company. Monetary amounts are rounded to the nearest £.
Ib) Income
All income is included in the Statement of Financial Activities when the charitable
company Is ¢niitl¢d io the inwmc wid thc atnount Gan Ix quantificd with rraJonabl¢
accuracy. The following specific policies are applied lo particular categories of income:
Donations and legacies are received by way of donations and gifts and are included
in full in the Statement of Financial Activities when receivable.
Donated serviccs and facilitics are included at the value to the charitable company
where this can be quantified. The value of services provided by volunteers has not
been included in these Financial Ststements.
Investment incom¢ is included when receivable.
Income from charitable trading activities 15 accounted for when earned.
Income from grants, where related to perfomiance and specific deliverables, are
accounted for &8 the chatitsble company earns the right to consideration by its
perforniance.
Government grants are recognised at the fair value received or receivable.

Page 15
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMrrED BY GUARANTEE)
NOTES TO THE FINAI¥CIAL KfATEMENrs
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2023
ACCOUNTING POLlCtES (coNfiNUED)
(c) Expenditur¢
Expenditure is T￿ognIsed on an accruals b&sis as a liability is inCu￿d. Expenditure
includes VAT &s the charitable company is not VAT registered and is reported as part of
the expenditure to which it relates.
Costs of raising funds wmprise the costs asgKiated with attracting voluntary income and
the costs of trading for fundraising purp)ses.
Expenditure on charitsble a¢tivities comprises those costs incurred by the chaTirable
company in the delivery of its activities and services for its beneficiaries. It includes both
osts that can be allocated direct]y to such activities and their associated support costs.
Support costs are those functions that assi￿ the work of the charitsble company but do
not directly undertake the charitsble activities. Thes¢ costs have been allocated between
the expenditure categories of the Stalement of Financial Activities on a basis d¢tsigned to
reflect the use ofthe resource and are apportioned on an appropriate basis, ¢¥ floor arcas.
per capita or estimated usa8e.
Governance Costs include those costs associated with meeting the constitutional and
8tstutory requirements of the charitable company and include the Independent Examiner's
fees and costs linked to the strategic management of the charitable company.
(d) Tangible Fixed Assets
All fixed assets are initially recorded at cost Icss accumulated depreciation and any
I￿paImI¢nt losses. Fixed assets over £500 are capitalised.
Depreciation is calculated so as to write-off the cost of an asseL less its estimated r¢sidual
value, over the useful economic life of that ass¢t as follows:
Equipment
Fixtures and Fittings
250/0 reducing b￿ance
250h reducing balance
(¢) Debtors
Trade and other debtors are recognis¢d at the settlement amount due. Prepayments are
valued at the amount prepaid net of any trade dI￿ullts due.
(0 Cash at Bank and in Hand
Cash at bank and in hand includes cash and short tern] higbly liquid investments with a
short maturity of three months or le&s from the dat of acquisition or opelling of th¢
deposit or similar accounL

PAge 16
VELMORE commu￿ ASSOCIATION
(A COMPANY LtMITED BY GUARAIYTEE)
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2023
ACCOUNTING POLICIES (coNfiNUED)
(g) Creditors and Provl$ion$
Creditors and provisions are recognised where the charity has a present obligation
resulting from a past event that will probably result in the transfer of funds to a third party
and the amount due to settle the obligation can be measuted OT estimated reliably.
Creditors and provisions ate nornially recognised at their settlement amount after
allowing for any trade discounts due.
(h) Operating Le￿¢$
Rentals payable under operating leases are charged to the StstemeDt of Financial
Activilies evenly over the period of the lease.
(i) Taxation
The charitable company is exempt from Corp￿tIOn Tax on its charitable activities.
(i) Fund Accounting
Unrestricted fijnds consist of the 8¢neral purp03es fund and d¢si8nat¢d fund3.
Designated funds are funds estsblished by the trustees from time to time for specific
projects or purpos¢s, are not in any way restricted and any surplus or deficit will be
transferred tolfrotn the general purposes fund when the designated fund is closed.
Restricted Funds are funds subject to specific restrictions imposed by donors or by the
purpose of the appeal. The PUTpose and use of designated and restricted funds is set out
iii tlic iivt¢s tv th¢ FiiiallGial Statciiiciits.
(k) Donated Service8
Donaied services and facilities are included at the value to the charitable company where
this can be quantified.
O) Finao¢ial Instruments
The ckntable company only has financial assets and financial liabilities of a kind that
qualify as basic financial instrLlln¢nts. B&sic fllw]cial instnllnents are initially recognised
at transaction value and subsequently me&sured at their settlement value with the
exception of bank loans which are subs¢qu¢ntly measured at 8mortised cost using the
effective interest method.
(m) Significant Judgements and Estimates
Preparation of the Financial Statements may require management to make significant
judg¢m¢nis and estimales. There are no items in the Financial Ststements. where
judgements and estimates would have a significant effect on amounts recognised in the
Financial Statements.

Page 17
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMrrED BY CUARANfEE)
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2023
DONATIONS AND LEGACIES
2023
Unre8tri¢ted Restritted Total
Funds
Funds
Funds
2022
Total
Funds
Grants received
Oth¢r donations
7,297
9.837
7,297
9,837
13,516
2,544
£17,134
£17,134 £16,060
In 2022 the income from donations and legacies of £16.060 was unrestricted.
There were no donated services and facilities receivable which could be quantified in the year
{2022 - none).
INCOME FROM CHARITABLE A￿[VITIEs
2023
Unrestricted Restricted Total
Funds
Funds
FundJ
2022
TotAI
Funds
Rental income
Cafe income
Miscellaneous
46,729
15,389
651
46,729
15,389
651
30,147
7.116
543
£62,769
£62,769 £37.806
In 2022 the income from charitsble activities of £37,806 was unrestricted.

Pag¢ 18
VELMORE COMhIUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARAwfEE)
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2023
OTHER T114DING ACTtVITIES
2023
Unrestricted Restricted Total
Funds
Funds
Funds
2022
Total
Funds
Other activities
£445
£445
£525
tn 2022, the income from other trading activities of £525 was unrestricted.
CORONAVIRUS SCHEMES AND RELIEF
2023
Unrestricted Restricted Total
Funds
Funds
Funds
2022
Total
Funds
CoTonavirus Job Retention Scheme
EBC Business Rates Relief Scheme
2,915
£2,915
AtYALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITES
2023
Unrestricted Restrieted Total
Funds
Funds
Funds
2022
Total
Fund$
Cornmunity Centre wsts
Support costs
Governance costs
66,324
3,987
1,196
66,324
3,987
1,196
44.675
3244
1,122
£71,507
£71.507 £49,041
In 2022 the expenditure on charitable activities of £49,041 w&s unrestricted.

Page 19
VELMORE COMMUNTfY ASSOCIATION
(A COMPANY LIMrrED BY GUARANfEE)
NOTES TO THE FINANCIAL sTATEME￿[s
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2023
ANALYSIS OF SUPPORT AND GOVERNANCE COSTS
The charitable company identifies the costs of its support fimctions. It then identifies those
costs which relate to the governance function. Having identified its governance Costs, th¢
remaining support costs together with the governance costs are app)rtioned between the key
charitable activities undertaken (see note 6) in the year. Refer to th¢ table below for the basis
for apportionment and the analysis of supp)rt and govemance costs.
General
Support GovernaD¢¢
Total
Basis of
Fundj Apportionment
Other costs
Independent Examiner's fees
3,987
3,987
1,196
Usage
Governance
1.196
£3,987
£1,196
£5,183
ANALYSI,S OF.STAFF COSTS, TRUSTEF. REMUNERATION AND EXPENSES
AND THE COST OF KEY MANAGEMENT PERSONNEL
2023
2022
Wages and salaries
Employer's pension
41,791
591
27,332
327
£42,382 £27,659
Particulars of Employees
The average number of employees during the year was &s follows:
2023
2022
Adn]inistration statr
No employee received remun¢rdtion of more than £60,000 during th¢ year (2022 - £nil}.
No payments were made to Tn￿eS by way of remuneration or eXpen￿S during the year
{2022 - £nil}.

Page 20
VELMORE COMMUNITY ASSOCIATION
(A COMPAIYY LIMtrED BY GUARANfEE)
NOTES TO THE FINANCIAL STATEMEKrs
(CONTINUED)
FOR THE YEAR EIWED
31 MARCH 2023
TANGIBLE FIXED ASSETS
Fixtures &
Equipment Fittings Total
Cost
At l April 2022
Disposals
,772
(922)
17.524
19,296
(841) (1,763)
As at 31 March 2023
850
16,683
17,533
Depreciation
At l April 2022
Provided for the year
Eliminated on disposal
1,642
130
(922)
14,307
15.949
881
,oii
(841) (1,763)
As at 31 March 2023
850
14,347
15,197
Net Book Values
As at 31 March 2023
£2.336
£2,336
As at 31 March 2022
£130
£3,217
£3,347
10. DEBTORS
2023
2022
Trade debtors
6.055
5355
£6.055
£5J55

Page 21
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LNITED BY GUARANfEE)
NOTES TO THE FINANCIAL STATEMENrs
(CONTINUED)
FOR THE YF.AR ENDED
31 MARCH 2023
I I. CREDITORS: Amounts falling due within one year
2023
2022
Trade creditors
PAYE and pension
Accruals
887
374
3,500
986
372
2.304
£4.761
£3,662
12. FINANCIAL llYSTRUMENTS
Financial instnjments measured at amortised cost comprise the following..
2023
2022
Financial assets that are debt instTLunents
Financial liabilities that are debt instruments
£6,055
£4,387
£5,355
£3,290
13. AtNALYSIS OY NET ASSETS BETWEEN FUNDS
2023
Unrestricted R¢$tricted Total
FuDds
Funds
Funds
2022
Total
Fund8
Tangible fixed assets
Current assets
cu￿eTrt liabilities
2.336
54.918
(4.761)
2,336
3,347
54,918
43,967
(4.761) (3,662)
Total funds
£52,493
£52,493 £43.652

Page 22
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANfEE)
NOTES TO THE FINANaAL sfATEMENrs
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2023
14. ANALYSIS OF CHARITABLE FUNDS
At
Incoming Outgoing
At
01.04.21 Resources Resources 31.03.22
Anatysis of Movements in
Unrestricted Funds
General Funds
43.652
80,348
71,507
52,493
Total Unrestrlcted Funds
43,652
80,348
71,507
52,493
Totsl Funds
£43.652 £80.348 £71.507 £52,493
Unrestricted Fundg
Unrestricted Funds comprise those funds which trustees are fre¢ to use in accordance with th¢
charitable objects.
15. ANALYSIS OF CHARITABLE FUNDS (coNfiNUED)
Rey¢rALted Funds
Restricted Funds are fimds which have been given for p8rticular purposes and projects. Th¢
R¢stricted Funds must be ￿ for the S￿IfiC purpose as laid down by the donor.
Th¢re were no restricted funds held during the year.
16. RELATED PARTY TRANSACTIONS
Th¢r¢ were no related party transactions arising in the year to 31 March 2023 (2022 - £nil}.
17. TAXATION
As a r¢gistered charity. the tncome is generally exempt from Corporation Tax under Section
478 of the Corporation Taxes Act 2010 by reason of its cjwitablc objccts and activities.

Page 23
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2023
18. LEGAL STATUS OF THE CHARITABLE COMPANY
The charitable conlpany is limited by guarantee and has no share capital. The liability of each
tru8tee, tn the event of winding-up, ts limited to £1.

THE FOLLOWING PAGE
DOES NOT FORM PART OF THE
STATUTORY FINANCIAL STATEMENTS

Page 24
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANfEE)
DETAILED UNRESTRIcfED
INCOME AND EXPETrIDITURE ACCOUNT
FOR THE YEAR ENDED
31 MARCH 2023
2023
2022
INCOME
Donations and 1¢g￿l¢S
Charitable activities
Other trading activities
Coronavirus schem¢s and relief
17.134
62,769
445
16,060
37.806
525
2,915
80,348
57.306
EXPENDITURE
Café purchases
Friendship club expenses
Wages and salaries
F.mployers' pcnsion
l.ight and heat
Repairs and maintenance
InsUr￿Ce
Accountancy
Other professional fees
Telephone
Other office costs
Licences and subscriptions
Independent Examiner's fees
Depreci￿10￿
Other sundry items
3,858
76
41,791
591
5.317
11,320
1,594
2.249
413
758
567
297
1.196
I,oii
469
1,493
25
27,332
327
4,529
5,150
1,559
1.765
66
722
691
1,667
1,122
2,435
158
71,507
49,041
SURPLUS FOR THE YEAR
£8.841
£8,265