VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
Company Registration Number: 07886190
Registered Charity Number: 1147104

VELMORE COMMUINITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
CONTENTS
Page
Trustees, Annual Report
Independent Examiner's Repon to the Trustees
9-10
Stateinent of Financial Activities
Balance Sheet
12- 13
Notes to the Financial Statements
14-22
MANAGEMENT INFoR￿L TION
Detailed Income and Expeiiditure Account - Total Funds
23

Page I
VELMORE COMMUNITY ASSOCIATIOI¥J
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED
31 m&￿cH 2024
The trustees are pleased to present their annual report and unaudited Financial Statements for the year
ended 31 March 2024, which are also prepared to meet the requirements for a Directors, Report and
Financial Statements for Companies Aci purposes.
The Financial Statements comply with the Charities Act 2011, the Companies Act 2006, the
Memorandum and Articles of Association and Accounting and Reporting by Charities.. Statement of
ReLoinm¢nded Practice applicable io charities preparing their Financial Statements in accordance
witli the Financial Reporting Standard applicable in the UK and Republic ot. Ireland (FRS 102).
REFERENCE AND ADMINISTRATIVE INFORMATION
Charity Name:
Velmore Community Association
Chydrity Reglstration Number:
1147104
Company Registration Number:
07886190
Principal Office:
Velmore Centre
Falkland Road
Eastleigh
Hampshire
S053 3GY
Registered Offlce Address:
Velmore Centre
Falklaiid Road
Eastleigh
Hampshire
S053 3GY
The Trustees
The trustees who served the company during rhe year were as follows..
Mr G Riddoch
MrAJWatt
MrRADibb
Mrs K Hatchett
Mrs L Ross
Mrs T Martin
Chair
Treasurer
Appt 16.01.2024
Secretary:
To be advertisedlappointed

Page 2
VELMORE COIIqMUINI'fY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, ANNUAL REPORT
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2024
REFERENCE AND ADMIIYISTRATIVE INFORMATION (CONTINUED)
Our Advtsors
Tndependent Examin¢r:
Abraham & Dobell
230 Shirley Road
Southampton
S015 3HR
OBJEC'fTVF.S AND ACTIVITIES
The ch<iritable company's objectives and principal activities are:
to promote the benefit of the inhabitants of the Velmore Estate and North End Copse in the
borough of Eastleigh witliout distinction of sex, sexual orientation, age, disability, natioiiality,
race or ot"political, religious oi. other opinions, by association together the said inhabitants and
the btiltutory authorities, voluLltary aiid other organisations iii a comLnon effort to advance
eduLation and to provide facilities in the interests of social welfare for recrcation and
leisure-time occupation with the object of improving the conditions of life for the said
inhabitants;
to establish or secure the establishment of a Cornmunity Centre and to maintain and manage
the same (whether alone or in co-operation with any statutory authority or other person or body)
in fLUther¢illLe of the Objects. and
to promote such other chaiitable purposes as may from time to time be detennined.
The charitable company shall be non-party in politics and non-sectarian in religion. The area of
benefit sliall be Velmore Estate and North End Copse in the borough of Eastleigh. This area is
bounded by LLigh Road, Bournemouth Road, Chestnui Avenue and thc M3.
Public Benefit Statement
All of our activities are undertaken to further our charitable purposes for the public benefit. In shaping
our objectives and planning our activities, the trustees have considered the Charity Commission's
guidance oil public benefit including the guidance 'Public Beiiefit: Running a Charity (PB2)'.

Page 3
VELMORE COMMufiITY ASSOCIATIOIY
(A COMPANY LIMITED BY GUARLINTEE)
TRUSTEES, ANNUAL REPORT
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2024
ACHIEVEMENTS AND PERFORMANCE
Centre Management
Tlie Centre manageinent structure continued to prove a successful working model for the Community
Association. The cu￿¢llt Cents'e Managcr has been in position for nearly three year8 and Sue runs
the Centre cffectively and efficiently and is supported by a cohesive and dedicated team of staff and
volunteers. She also is the first port of call for a nwnber of local residents when they need help or
directing io the organisations who can help. The staff in the key support roles of admin assi.8tant and
cat"é manager rernained unchanged during this reporting period and so the Centre has benefited from
an experienced staft" team.
Buildings Maintenance
The programiiie of routine maintenance at the Centre was completed during the year. This included
replacing around half of the fire extinguishers and taking out a new maintenance contract for the
alarm system with a new provider. Thus, the routine expenditure was higher than budgeted for.
There were no significant improvement projects undertaken during this year. Minor running repairs
were carried out and some additional work was canied our on the external lights. This supplemented
the emergency lighting project undertaken in the previous period.
Health & Safety
Health and safety incidents and accidents are reported to the Trustee Board and they are pleased to
be able to report that there have been only minor accidents with small cuts or bruising but nothing
that i'equired anythiniF more than on-the -spot treatment. No corrective actions for the Centre were
identified.
Business DeYelopm¢nt
The focus of business development during this period has been to ensure thai there is sufficient
income to continue to provide the community focused activities in the Centre. However, the Trustees
are concerned that this should not be to the detriment of delivering the charitable objectives and a
service to the conununity.
The Trustees carried out a review of the Centre usage for a typical week (June 2023). The usage was
categorized by the user type alld looked at by hours booked and user hours. (Number of users x
number of hours for the session). The analysis for the period choscn showed that 690/0 of the hours
booked were for community activity and 750/0 of the user-hours were community activity. The Board
was satisfied that the Association was achieving the charitable objective with regard to the
community. The Board agreed to repeat this exercise at regular intervals to monitor the deliverance
of its objective.

Page 4
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, ANNUAL REPORT
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2024
ACHIEVEMENTS AND PERFORMANCE (CONTINUED)
Buslness Development (Continued)
This year the community led groups for Bingo, Table Tennis, Quiz and Knit and Natter have all
continued and have good attendance. A new community led group for indoor Kurling has been started
and this has proved to be very popular.
1.hcrc have been two community fairs during the pcriod, one in the sumrner and one at Christmas.
The latter was particularly ,8uccessful with entertainment from a choir which regularly meets at the
Centre. The Church partncr has also run approximaiely quarterly Sunday dinner services which
attract a good number of CentrL uscrs. The Centre has also run events in support of other Charities
including Guide Dogs and Macmillan Cancer support and these have a high level of support frorn the
conimunity.
Cherry Tree Cafe
The Cherry Tree café continues to be recognized as a key local resource for people who live on the
estale. The main demand on the café space continues to be as a place to meet-up and socialize. This
is particularly true tor the older generations. The Trustees continue io monitor the cost of this
provision to thc A.8sociation and seck through the nianagement to maximize the income but recognize
its importance as a social need. A numbcr of promotions and menu styles were tried during thc year
but there was no significant increase in income. The Café manager went off for 12 weeks in February
for a planned procedure and so there was a salary saving without a significant impact in income, This
is under review by the Trustees and a different offering is being planned.
FINLNCIAL REVIEW
The charitable company increased its income to £86,135 compared to £80,348 in the previous year.
This was due to increased charitable activities in the year compared to the year ended 31 March 2023.
Expenditure also increased to £74,936 compared to £71,507 in the year to 31 March 2023.
As a result, the charitsble company achieved a surplus in the year to 31 March 2024 of £11,199
(2023 £8,841).
Each year a budget is proposed and approved by the Board. The financial aim of VCA during this
period was to inake a modest profit of around £5,000 and plan to use this to improve the delivery of
service to the local area. During the year there were a number of grants and donations which have
made a greater level of income over expenditure possible. Discussions around commissioning a needs
assessment of the local area and the possible appointmenT of a part-time community engagement
officer have taken place but as yet no significant plans have been put in place.

Page 5
VELMORE COMMUIYITY ASSOCIATION
(A COMPANY LIMITED BY GUAIL4NTEE)
TRUSTEES, ANNUAL REPORT
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2024
FINANCIAL REVIEW (CONTINUED)
Reserves and Investment Policy
There is a reserves policy in place and this was reviewed in January 2024 and due to increases in
salarie8 and turnovLr an additional £1,800 was addcd to the reserve fund. This is held in a Corporate
In.stant Deposit account with the Co-op.
PLANS FOR FUTURE PERIODS
To continuc to engagc with the community and to consider new ideas and initiatives to
prornote Velmore Centre with the local community.
To investigate the employment of a community engagement person.
To look for more opportuiiities for social engagement groups by community volunteers.
To continue to develop initiatives and services to reflect the needs of local residents and
business Lommunities ￿ld to be aware of the poteiitial competition for these from other nearby
facilities.
To build on tlie reputation of the Velmore Centre as a hub for Iiealtli and wellbeing activities
in the community through development and promotion of services.
To investigate the provision of additional 'health room, to allow more health-related
services to be delivered on the estate.
To continue io promote our Café and reach out ro a broader range of clientele with targeted
menus and offers.
To continiie to maintain links and work with local partners.
To work closely with the local Co-operative Store who have agreed to have Velmore
Cotniiiuiiiiy Association as thcir "Chai"ity Partncr in th¢ n¢xt financial year.
To continue to work with Fedex who have previously donated communiry volunteer hours to
support maintenance, particularly at Belmonl Hall.
To explore the possibility of other local businesses giving'charity Days" to Velmore Centre.
To continue to monitor the hire rates and compare with the rates of similar organisations in
the area to ensure we remain competitive in this market,
To review all service contracts and regular suppliers to ensure that we are receiving the best
possible rates available, and to make changes where improvements can be obtained.
To investigate the upgrade of the lighting within the Centre to Teduce energy consumption.

Page 6
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, ANNUAL REPORT
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng Document
The organisation is a charitable company limited by guarantee, incorporated on 19 Decemb¢r 2011
and registered as a charity on 3 May 2012. The company was established under a Memorandum of
Association which established the objects 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 required to contribute £1 in the event of the charitable
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 Recommend¢d Practice
(SORP (FRS 102)) and European Working Time Directive.
Recrultment and Appolntment of the Trustees
The directors of the company are also charity trust¢es for the purposes of charity law.
The trustees arc appointed by members, 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 becn paid any remuneration for their roles as Trustees,
Trustee Inductlon and Tralnlng
Trustees are recruited and appointed in accordance with the Articles of Association. Induction and
training of new trustees is arranged by the Board on an individual basis.
Rlsk Management
The trustees have examined the major strategic, business and operational risks which the charitable
company faces and confirni that systems have been established to enable regular reports to be
produced so that the necessary steps can be taken to lessen these risks.
Organisational Structure
The trustees of Velmore Community Association meet 6 tim¢s a year, ensuring that any decisions are
agreed at a quorum meeting of the Board of Trnstees. The Board of Trustees, at the date of signing
this Report, compriscd 6 tn]stees. The trustees come from a variety of professional backgrounds
relevant to the work of the charitable company. The trustees delegate day to day responsibility for
the running of the organisation to Senior Executives who are responsible for delivering services.

Page 7
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, ANNUAL REPORT
(CONTINUED)
FOR THE YEAR ENDED
31 IVtARCH 2024
STRUCTURE. GOVERNANCE AND MANAGEMENT (CONTINUED)
Related Parties
Velmore Community Association collaborates with a number of key partics to ensure the charitable
coinpany meets its objectives. The key parties are..
Chandlers Ford Parish Council
Co-operative Stores
Eastleigh Borough Council
Vclmore Church
Vivid Homes
Key Management And Personnel Remuneratlon
The trustees consider the Board of Trustees and the Senior Management Team comprise the key
management personnel of the charitable company in charge of directing and controlling the charitable
company ajid Nnning and operating the chariry on a day to day basis.
All trustees give their time freely and no reiniineration was paid to trustees in the year.
The pay of the Senior Management Team is reviewed by the trustees periodically on the basis of the
performance of the individual concerned and the charitable conipany as a whole.
RESPONSIBILITIES OF THE DIRECTORS
Thc ¢harirable cornpany's directors (who arc trustees for the purposes of charity law) are responsible
for preparing an annual report and Financial Statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the directors to prepare Financial Statements for each financial period, which
give a Lrue and fair view of the state of tlie affairs of the charitabl¢ coinpdny as at the Balance Sheet
date and of its incoming resources and application of resources, including income and expenditure,
for the tinancial period. In preparing those Financial Statements the directors are required to..
select suitable accounting policies and then apply them consistently.
observe the inethods and principles in the Charities SORP (FRS 102).
iiiake judgements and estimates that are reasonable and prudeiit.
statc wliether applicable UK accounting standards have been followed, subject to any material
departures disclosed and explained in the Financial Statements. and
prepare the Finaiicial Statemeiits on the going concem basis unless it is inappropriate to
presume that the charitsble coinpany will continue on that basis.

Page 8
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, ANNUAL REPORT
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2024
RESPONSIBILITIES OF THE DIRECTORS {CONTINUED)
The director8 are responsible for keeping proper accounting records that disclose, with reasonable
accuracy at any time, the financial position of the charitable company and to enable them to ensure
that the Findncial Statements 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 ot" fraud and other irregularities.
Thc dircctors are rcsponsible for the maintenance and integrity of the corporate and financial
intormation included on tlie charitable company's website. Legislation in the United Kingdom
governing the preparation and dissemination of the Financial Statements may differ from legislation
in other juri.sdictions.
SMALL COMPANY PROVISIOI%S
This report has been prepared in accordance with the provisions applicable to conipanies entitled io
the small companics exemption Lll]der the Companies Act 2006.
Approved by the trustees on 12 November 2024 and signed on their behalf by;
{Vi,_V
G RIDDOCH
CHAIR
A WATT
TREASURER

Page 9
INDEPENDENT EX￿MINER's REPORT
TO THE TRUSTEES OF
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARALNTEE)
FOR THE YEAR ENDED
31 MARCH 2024
report to the charity trustees on my examination of the Accounts of Velmore Community
Associalion (the Conipany) for the year ended 31 March 2024.
RESPONSIBILITIES AND BASIS OF REPORT
As the charity'8 trustees of the Company (and also its directors for the pury)oses of company law) you
are respoiisible for the preparation of the Accounts in accordance with the requirements of the
Companies Act 2006 ('the 2006 Act.).
Having satÉsfied niyself 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 iii respect of my examination
of your charity's Accounts as carried out under section 145 of the Charilies Act 2011 ('the 2011 Act,).
In caryiiig out my exainination I have followed the Directions given by the Cliarity Coinmissioii
under section 145(5)(b) ot, the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
I have conipleted niy exaniination. I confinn that no matters have come to my attention in comiection
with the examination giving rne cause 10 believe..
accounting records were not kept in respect of the Company as required by section 386 of the
2006 Act.
the Accounts do not accord witl) those records;
the Accounts do not cornply with the accounting requirements of section 396 of the 2006 Act
other than any requirement that the Accouiits give a 'true and fair view which is not a matter
considered as part ot" an independent cxamination. or
the Accounts have not been prepared in accordance with the methods and principles of the
Statement of Recominended Practice for accounting and reporting by charities (applicable to
charities preparing rheir Accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102)).

Page 10
INDEPENDENT EMMINER'S REPORT
(CONTINUED)
TO THE TRUSTEES OF
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMI ITED BY GUARANTEE)
FOR THE YEAR ENDED
31 MARCH 2024
INDEPENDENT EXAMINER'S STATEMENT (CONTINUED)
I have no concerns 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 understanding of the
Accounls to be reached.
12 November 2024
D J MANT FCA
ABRAHAM & DOBELL
Chartered Accountants
230 Shirley Road
Southampton
S015 3HR

Page 11
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FI￿ ANCIAL ACTIVITIES
(INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED
31 MARCH 2024
2024
Unrestrieted Total
Funds
Funds
2023
Total
Funds
Notes
INCOME
Donations and le(yacies
Charitable activities
Other tradin(y activities
Investmenl inLome
12,402
73.294
270
169
12,402
73,294
270
169
17,134
62,769
445
TOTAL INCOME
86,135
86.135
80,348
EXPENDITURE
Charitablc activities
74,936
74,936
71,507
TOTAL EXPENDITURE
74,936
74.936
71,507
NET INCOME/(EXPENDITURE)/
NET MOVEME.NTS IIN FUNDS
FOR THE YEAR
11,199
I k,199
8,841
RECONCILIATIO￿, OF FUNDS
Total funds brought forward
52,493
52.493
43,652
Total funds carried forward
£63,692 £63,692 £52,493
The Statement of Financial Activities includes all gains and losses recognised in the year. All income
and expenditure derive from continuing activities.

Page 12
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT 31 MARCH 2024
Notes
2024
2023
FIXED ASSETS
Tangible fixed assets
1,752
2,336
TOTAL FIXED ASSETS
1.752
2,336
CURRENT ASSETS
DLbtors
Cash at bank and in hand
10
8,541
58,231
6,055
48,863
TOTAI, CURRENT ASSETS
66.772
54,918
LIABILITIES
Creditors.. Arnounts falling
due within one year
4,832
4,761
NET CURRENT ASSETS
61,940
50,157
TOTAL ASSETS LESS CURRENT
LIABILITIES
63,692
52,493
NET ASSETS
l3
£63,692
£52,493
THE FUNDS OF THE CHARITABLE
COMPANY
Unrestricted incorne funds
14
63,692
52,493
TOTAL CHARITABLE COMPANY FUNDS
£63,692
£52,493

Page 13
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE}
BALANCE SHEET
(CONTINUED)
AS AT 31 MARCH 2024
For the year ended 31 March 2024 the charitsble company was entitled to exemption from audit under
seciion 477 of tlie Companies Act 2006 relating to srnall companies.
Directors, Respoiisibilities:
The directors have not required the company to obtain an audit of its Accounts for the year in
questii)n in accordance with section 476. aiid
the diiector8 aLknowledgc thcir responsibilities for complying with the requirements of the Act
with rLspect to accounting records and the preparation of Accounts.
The directoi's have prepared Financial Staternents in accordance with the special provisions of Pan
15 of tlie Lompanies Act relating to small companies which constitute the annual Financial
Statements I'equired by the Companies Act 2006 and are for circulation to members of the charitable
company.
The notes 011 pages 14 to 22 fonn part of these Financial Statements.
Approved by the trustees on 12 iNovember 2024 and signed on their behalf by:
G RIDDOCH
CHAIR
A WATT
TREASURER
Company Registration Number: 07886190

Page 14
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
ACCOUNTING POLICIES
Charlty Information
Velniore Conimunity Association is a charitable company established under its Memorandum
and Articles of Association and registered with the Charity 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.
Tlic principal accounting policieg adopted, judgements and key sources of estimation
uncertainty in the preparation of the Financial Stateinents are as follows:
(a) Basis of Preparation
The Financial Statements have been prepared in accordance with Accoiinting and
Reporting by Charities: Statement of Recommended Practice applicable to charities
preparing their Financial Statemeiits in accordance with the FinanLial Reporting Standard
applicable in the UK aiid Republic of Ireland (FRS 102) (Charities SORP (FRS 102)),
the Financial Reporting Staiidard applicable in the UK ￿ld Republic of Ir¢land (FRS 102)
and the Companics ALt 2006.
The Financial Statements are prepared in sterling, which is the functio1￿1 currency of the
charitable company. Monetary amounts are rounded to the nearest £.
(b} Income
All income is included in Ihe Statement of Financial Activities when the charitable
vIiiptIlly IS ¢11(itlcd 10 thb ini*QEn¢ aiid th¢ thmoiint ean be quantified with reasonable
accuracy. The following specific policies are applied to 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 services and facilities are included at the value to the charitable company
where this can be quantified. The value of services provided by volunteers has not
beeii included in these Financial Staiements.
Investmeiit income is included when receivable.
Income from charitable trading activities is accounted for when earned.
Income from grants. where related to perforn]ance and specific deliverables, are
accounted for as the charitable company earns the right to consideTation by its
perfonnance.
Government gr￿][S are recognised at the fair value received or receivable.

Page 15
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FTNANCIAL STATEMENTS
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2024
ACCOUNTING POLICIES (CONTINUED)
(c) Expenditure
Expenditure is recognised on an accruals b&8is as a liability is incurred. Fxpenditure
includes VAT as the charitable cornpany is not VA T registered and is reported as part of
the expenditure to which it relates.
Costs of raisiiig t'unds ¢ompri8e the costs associated with attracting voluntary income and
the costs of trading for fundraising purposes.
Expenditure on charitable activities cornprises those costs incurred by the charitable
company in the delivery of its activities and services for its beneficiaries. It includes both
costs that can be allocated directly to such activities and their associated support costs.
Support costs are those functions that assist the work of the charitable company but do
not directly undertake the charitable activities. These cosrs have been allocated between
the expenditure categories of the Statement of Financial Activities on a basis designed to
reflect the use of Ihe resource ￿ld are apportioned on an appropriate basis, eg floor areas,
per capita or estimated usagc.
Governance cosis include those costs associated with meeting the constitutional aiid
statutory 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 Ffixed Assets
All lixcd a53CiS t￿C inirially rccord¢d at cost le&s accumulated depreciation And any
impainnent losses. Fixed assets over £500 are capitalised.
Depreciation is calculated so as to write-off the cost of an asset. less its estirnated residual
value, over the useful economic life of that asset as follows:
Eqiiipment
Fixtures and Fittings
25 % reducing balance
25 % reducuig balance
(e) Debtors
Trade and other debtors are recocrllised at the settlement amount due. Prepayments are
valued at the amount prepaid nei of any trade discounES due.
(f) Cash at Bank and in Hand
Cash at bank and in hand includes cash and shon terni highly liquid investments with a
short maturity of three months or less from the date of acquisition or opening of the
deposit or similar account.

Page 16
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARAIYTEE)
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2024
ACCOUNTING POLICIES (CONTINUED)
(g) Creditors and Provisions
CrLditors and provisions are recognised where the charity has a preseni obligation
resulting troin a past evcnt that will probably result in the transfer ot fvnds to a third party
and the amoun( due to settle the obligation can be measured or estimated reliably.
Creditors and provisions are nonnally recognised at their settlement amount after
allowing tor any trade discounts due.
(h) Operating Leases
Rentals payable under operating leases are charged to the Stateinent of Financial
Activities evenly over the period of the lease.
(i) Taxation
The charitable company is exempt from Corporation Tax on its charitable activities.
O) Fund Accounting
Ui]restricted fuiids consist of the general purposes fund and designated fLmds.
Designated funds are tunds established by the trustees trom time to time for specific
projects or pU￿oses, are not in any way restricted and any surplus or defieit will be
transferred to/from the general purposes fund when the designated fund is closed.
Restricted Funds are funds subject to speciflc resti'ictions imposed by donors or by the
purpose of the appeal. The purpose and use of designated and restricted ftmds is set out
iii tlic notG3 to tlic Financial StatCLncnts.
(k) Donated Services
Donated Services and facilities are included at the value to the charitable company where
this can be quantified.
(l) Financial Instruments
The charitable company only has financial assets and financial liabilities of a kind that
qualify as basic financial instruments. Basic financial instruments are initially recognised
aT transaction value and subsequently measured at their settlement value with the
exception of bank loans which are subsequently measured at amortised cost using the
effective interest method.
(m) Significant Judgements and Estimates
Preparation of the Financial Statements may require management to make significant
judoements and estimates. There are no items in the Financial Statements where
judgements and estimdtes would have a significant effect on amounts recogllised in the
Financial Statements.

Page 17
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2024
DONATIONS AND LEGACIES
2024
Unrestricted Total
Funds
Funds
2023
TotAI
Funds
Grants reccived
Other donations
5,570
6,832
5,570
6,832
7,297
9,837
£12,402 £12,402 £17,134
In 2023 the income from donations and legaci¢s of £17,134 was unrestricted,
TherL were no donated services and facilities receivable which could be quaniified in the year
(2023 - none).
INCOME FROM CHARITABLE ACTIVITIES
2024
Unrestrlcted Total
Funds
Funds
2023
Total
Funds
Rental incoine
Café income
Miscellaneous
57,318
15,976
57.318
15,976
46,729
15,389
651
£73,294 £73,294 £62,769
In 2023 the income froin charitable activities of £62,769 was unrestricted.

Page 18
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2024
OTHER TRADING ACTIVITIES
2024
Unrestricted Total
Funds
Funds
2023
Total
Funds
Other activities
£270
£270
£445
In 2023, the income from othcr trading activities of £445 was unrestricted.
INVESTMENT INCOME
2024
Unrestricted Total
Funds
Funds
2023
Total
Funds
Bank interest received
£169
£169
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITES
2024
Unrestricted Total
Funds
Funds
2023
Total
Funds
Community Centre costs
Support costs
Governance costs
69,892
3,786
1,258
69,892
3.786
1.258
66,324
3.987
1.196
£74,936 £74,936 £71,507
In 2023 the expenditure on charitable activities of £71,507 was unrestricted.

Page 19
VELMORE COMMUNITY ASSOCIATIO
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2024
A￿'ALYSIs OF SUPPORT AND GOVERNANCE COSTS
The charitable company identifies the costs of its support functions. It then identifies those
costs wliich rclatc to the govciTrance function. Having identified its governance cogts, the
remaining support costs together with the governance costs are apportioned between the key
charitable activities undertaken (see note 6) in the year. Refer to the table below for the basis
for apportionment and thc analysis of support and govcrnance costs.
Cyeneral
Support Governance
Total
Basis of
Funds Apportionment
Other costs
IndependLnt Examiner's fees
3,786
3,786
1,258
Usage
Governance
1,258
£3.786
£1,258
£5,044
ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES
AND THE COST OF KEY MANAGEMENT PERSONNEL
2024
2023
Wag¢s aiid Salaries
Employer's pension
45,691
667
41,791
591
£46,358 £42,382
Particulars of Employees
The average nuinber of employees during the year was as follows:
2024
2023
Administration staff
No employee received remuneration of more than £60,000 during the year (2023 - £nil).
No payrnents were made to I'rustees by way of remuneration or expenses during the year
(2023 £nil).

PAge 20
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUIllL4NTEE)
NOTES TO THE FINANCIAL STATEMENTS
(CONTINI UED)
FOR THE YEAR ENDED
31 MARCH 2024
TANGIBLE FIXED ASSETS
Fixtures &
Equlpment Fittfings
Total
Cost
At l April 2023
Disposals
850
(850)
16.683
17,533
(850)
As at 31 March 2024
16,683
16,683
Depreciatlon
At l April 2023
Provided for the year
Eliminated on disposal
850
14,347
584
15,197
584
(850)
(850)
As at 31 March 2024
14,931
14,931
Net Book Values
As at 31 March 2024
£1,752
£1,752
As at 31 March 2023
£2,336
£2,336
10. DEBTORS
2024
2023
Trade debtors
8,541
6,055
£8,541
£6,055

Page 21
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUAIL4NTEE)
NOTES I'O THE FINANCIAL STATEMENTS
(CONTINUED)
FOR THE YEAR ENDED
31 I￿lARCH 2024
I I. CREDITORS: Amounts falling due within one year
2024
2023
Trade creditors
PAYE and pension
Accruals
901
313
3.618
887
374
3,500
£4,832
£4,761
12. FINANCIAL INSTRUMENTS
Financial instruments measured at amortised cost comprise the following.,
2024
2023
Fiiiancial assets that are debt instruments
Financial liabilities that are debt insiruments
£8,541
£4,519
£6,055
£4,387
13. AIYALYSIS OF NET ASSETS BETWEEIN FUNDS
2024
Unrestricted Total
Funds
Funds
2023
Total
Funds
Tangible fixed assets
Current assets
Current liabilitics
1,752
1,752
2,336
66,772
66,772
54,918
(4,832) (4,832) (4,761)
Total funds
£63,692 £63,692 £52,493

Page 22
VFLMORE COMMUINITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
FOR THE YEAR ENDED
31 MARCH 2024
14. ANALYSIS OF CHAIUI'ABLE bULYDS
At
Incoming Outgoing
At
01.04.23 Resources Resources 31.03.24
Analysis of Movements in
Unrestricted Funds
General Funds
52.493
86,135
74,936
63,692
Total Unrestricted Funds
52,493
86,135
74,936
63,692
Total Funds
£52,493 £86,135 £74,936 £63,692
Unrestricted Funds
Unrestricted Funds comprise those funds which trustees are free to use in accordance with the
cliaritable objects.
15. RELATED PARTY TIL4NSACTIONS
There were no related party transactions arising in the year to 31 March 2024 (2023 - £nil).
16. TAXATION
As a registered charity, the income is generally exempt from Corporation Tax under Section
478 of the Corporation Taxes Act 201 O by reason of its charitable objects and activities.
17. LEGAL STATUS OF THE CHARITABLE COMPANY
The charitable cornpany is limited by guarantee and has no share capital. The liability of each
trustee, Èn the event of winding-up, is liinited to £1.

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

Page 23
VELMORE COMMUNITY ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
DETAILED UNRESTRICTED
INCOME AND EXPKNDITURE ACCOUNT
FOR THE YEAR ENDED
31 MARCH 2024
2024
2023
INCOME
Donations and legacies
Charitable activities
Other trading activities
Bank interest received
12,402
73.294
270
169
17,134
62,769
445
86,135
80,348
EXPENDITURE
Caté purchases
Friendship club expenses
Wages and salaries
Employers, pension
Light and heat
Repairs and maintenance
Insurance
Accountancy
Othcr professional fees
Telephone
Other office costs
Licence8 and sub.8criptions
Independent Examiner's fees
Depreciation
Other sundry items
4,078
3,858
76
41,791
591
5,317
11,320
1,594
2,249
413
758
567
297
1,196
1,011
469
45,691
667
9,553
6,533
1,724
2,478
53
566
689
980
1,258
584
82
74,936
71,507
SURPLUS FOR THE YEAR
£11,199
£8,841