REGISTERED COMPANY NUMBER: 04016718 (England and Wales) REGISTERED CHARITY NUMBER: 1148009
Report of the Trustees and Financial Statements for the Year Ended 31 August 2021 for
Westfield Community Development Association
Geoff Cowley & Co Ltd Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
Westfield Community Development Association
Contents of the Financial Statements for the Year Ended 31 August 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Notes to the Financial Statements | 8 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
Westfield Community Development Association
Report of the Trustees for the Year Ended 31 August 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04016718 (England and Wales)
Registered Charity number
1148009
Registered office
Westfield Community Centre Rosemary Way Hinckley Leicestershire LE10 0LN
Trustees
N M Thornber D R Peake P M Adams M A Hateley W A Smith Trustee
Company Secretary
M A Hateley
Independent examiner
David Preston Chartered Certified Accountant Geoff Cowley & Co Ltd Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
Where appropriate Trustees are drawn from the Association's membership, appointed or reappointed at the annual general meeting of the Association's membership and/or from time to time co-opted by the board of Trustees.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 1
Westfield Community Development Association
Report of the Trustees for the Year Ended 31 August 2021
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity aims to benefit the residents of Hinckley & Bosworth Borough Council area and the neighbourhood, without distinction of sex, sexual orientation, race or political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the residents.
In furtherance of its charitable objectives but not otherwise, the trustees shall have the powers to establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a centre for activities promoted by the charity in furtherance of the above objects. Association seeks to deliver a life-long community education curriculum which involves working with and delivering a broad range of services to Pre-school children and their families and carers, school age children their families and carers, young people and adults. The Association does this in a variety of ways providing some services directly and others in partnership with local voluntary or statutory organisations.
STRATEGIC REPORT
Achievement and performance
The Association along with many in the Voluntary and Community sector has been severely impacted by the pandemic. During the first lock-down (March 2020) we were faced with the wholesale closure of all our services and the continuation of the work of the Association was in serious doubt.
Fortunately, with a great deal of volunteer, staff and trustee effort and determination, we were quickly able to repurpose many of our services and made a substantial and significant response to the needs of our most vulnerable client groups. We did this by taking services to them and supporting them through lock-down and isolation, rather than bring them into the Centre to receive services.
Our childcare services were encouraged to remain partially open and were opened and sporadically closed throughout the first 18 months of the pandemic. However, the vast majority of our leisure/recreational groups remained closed throughout. All in all, we were faced with a real threat to our continued existence. The fact that we are still in operation and have plans to rebuild our services is not only testament to our resilience but to our achievements and performance throughout the pandemic.
FINANCIAL REVIEW
During the last 18 months of the pandemic, we were able to take advantage of a number of government sponsored financial support schemes including the "Furlough" scheme and the Coronavirus Business Interruption Loan Scheme "CBILS". We also redoubled our fundraising efforts to meet the costs of our Covid support services and the operational costs of the Community Centre.
Early identification of future financial risks to the Association have indicated that the continued high cost of providing nursery places within "end of life buildings" subject to expiring leases, posed a mid to long term threat to the financial stability of the Community Centre, irrespective of the challenges associated with the economic fallout of the pandemic.
Contingency plans have already been formulated and a down-sizing and restructuring of our childcare provision has already been undertaken. We are striving to "build back" our services and the number of regular Centre-users and with them the financial stability and sustainability they bring to the Association and the services we provide to the local community.
The fiscal and social contribution by volunteers who give their time and expertise to support the Association's programmes or repair and maintain the Association's premises, continues to make a significant contribution to our ongoing financial stability and sustainability.
The Association has policy and plans aimed at achieving reserve funds equivalent to three months operating costs and is working consistently towards this end. The Association is fortunate in having fixed assets valued in excess of £900,000.
Page 2
Westfield Community Development Association
Report of the Trustees for the Year Ended 31 August 2021
Business and community development plans are reviewed on a regular basis to ensure that the Association continues to deliver its core mission and vision within the context of its charitable Aims and Objectives.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 12 April 2022 and signed on the board's behalf by:
P M Adams - Trustee
Page 3
Independent Examiner's Report to the Trustees of Westfield Community Development Association
I report on the accounts of the company for the year ended 31 August 2021, which are set out on pages five to fourteen.
Responsibilities and basis of report
As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independant examination, I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
that accounting records were not kept as required by section 386 of the Companies Act 2006; or
-
that the accounts do not accord with those records; or
-
that the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland; or
-
that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Chartered Certified Accountant which is one of the listed bodies.
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
David Preston Chartered Certified Accountant Geoff Cowley & Co Ltd Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
12 April 2022
Page 4
Westfield Community Development Association
Statement of Financial Activities for the Year Ended 31 August 2021
| 31.8.21 Unrestricted fund Notes £ INCOMING RESOURCES Incoming resources from generated funds Voluntary income 2 336,530 Activities for generating funds 3 244,419 Total incoming resources 580,949 RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income 496 Fundraising trading: cost of goods sold and other costs 4 74,825 Governance costs 5 2,634 Other resources expended 531,912 Total resources expended 609,867 NET INCOMING/(OUTGOING) RESOURCES (28,918) RECONCILIATION OF FUNDS Total funds brought forward 668,517 TOTAL FUNDS CARRIED FORWARD 639,599 |
31.8.20 |
|---|---|
| Total funds |
|
| £ | |
| 253,542 | |
| 285,502 | |
| 539,044 | |
| 453 | |
| 44,447 | |
| 3,817 | |
| 471,723 | |
| 520,440 | |
| 18,604 | |
| 649,913 | |
| 668,517 | |
CONTINUING OPERATIONS
All incoming resources and resources expended arise from continuing activities.
The notes form part of these financial statements
Page 5
Westfield Community Development Association
Balance Sheet At 31 August 2021
| 31.8.21 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 865,150 CURRENT ASSETS Stocks 10 700 Debtors 11 34,502 Cash at bank and in hand 50,516 85,718 CREDITORS Amounts falling due within one year 12 (43,431) NET CURRENT ASSETS 42,287 TOTAL ASSETS LESS CURRENT LIABILITIES 907,437 CREDITORS Amounts falling due after more than one year 13 (267,838) NET ASSETS 639,599 FUNDS 16 Unrestricted funds 639,599 TOTAL FUNDS 639,599 |
31.8.20 Total funds £ 854,410 500 86,342 74,339 161,181 (53,803) 107,378 961,788 (293,271) 668,517 668,517 668,517 |
|---|---|
The notes form part of these financial statements
Page 6
continued...
Westfield Community Development Association
Balance Sheet - continued At 31 August 2021
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees on 12 April 2022 and were signed on its behalf by:
P M Adams -Trustee
The notes form part of these financial statements
Page 7
Westfield Community Development Association
Notes to the Financial Statements for the Year Ended 31 August 2021
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Financial reporting standard number 1
Exemption has been taken from preparing a cash flow statement on the grounds that the parent company includes the subsidiary in its published financial statements.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided Plant and machinery - 20% on cost Motor vehicles - 25% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Company status
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation while he or she is a member within one year after he or she ceases to be a member, for payment of the company's debts and liabilities contracted before he or she ceases to be a member, and of the costs, charges and expenses of winding up and for the adjustment of the right of the contributions among themselves.
Page 8
Westfield Community Development Association
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
2. VOLUNTARY INCOME
| Donations including Gift Aid Grants Grants received, included in the above, are as follows: Other grants ACTIVITIES FOR GENERATING FUNDS Kids Club and Nursery Social lotteries Canteen Club and Social Courses Minibus and Room Hire FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS Purchases Staff costs Motor Minibus Expenses Uniforms Bad debts Labour & DBS Expenses GOVERNANCE COSTS Accountancy Legal fees Auditors' remuneration |
31.8.21 £ 20,844 315,686 336,530 31.8.21 £ 315,686 31.8.21 £ 231,435 10 1,233 220 11,521 244,419 31.8.21 £ 29,505 - 8,891 1,276 29,909 5,244 74,825 31.8.21 £ 1,974 300 360 2,634 |
31.8.20 | 31.8.20 | 31.8.20 |
|---|---|---|---|---|
| £ | ||||
| 17,226 | ||||
| 236,316 | ||||
| 253,542 | ||||
| 31.8.20 | ||||
| £ | ||||
| 236,316 | ||||
| 31.8.20 | ||||
| £ | ||||
| 267,610 | ||||
| 341 | ||||
| 4,958 | ||||
| 2,700 | ||||
| 9,893 | ||||
| 285,502 | ||||
| 31.8.20 | ||||
| £ | ||||
| 31,415 | ||||
| 3,174 | ||||
| 6,180 | ||||
| 1,047 | ||||
| - | ||||
| 2,631 | ||||
| 44,447 | ||||
| 31.8.20 | ||||
| £ | ||||
| 3,457 | ||||
| - | ||||
| 360 | ||||
| 3,817 | ||||
3. ACTIVITIES FOR GENERATING FUNDS
4. FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS
5. GOVERNANCE COSTS
Page 9
Westfield Community Development Association
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
6. NET INCOMING/(OUTGOING) RESOURCES
Net resources are stated after charging/(crediting):
| 31.8.21 | 31.8.20 | |
|---|---|---|
| £ | £ | |
| Auditors' remuneration | 360 | 360 |
| Depreciation - owned assets | 5,050 | 1,469 |
| Deficit on disposal of fixed asset | 889 | - |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020 .
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020 .
8. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
31.8.21 £ 396,837 23,148 8,827 428,812 |
31.8.20 |
|---|---|---|
| £ | ||
| 373,994 | ||
| 18,365 | ||
| 7,086 | ||
| 399,445 | ||
The average monthly number of employees during the year was as follows:
| 31.8.21 | 31.8.20 | |
|---|---|---|
| General | 24 | 36 |
No employees received emoluments in excess of £60,000.
Page 10
Westfield Community Development Association
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
9. TANGIBLE FIXED ASSETS
| Freehold Plant and property machinery £ £ COST OR VALUATION At 1 September 2020 850,000 61,123 Additions - 684 Disposals - - At 31 August 2021 850,000 61,807 DEPRECIATION At 1 September 2020 - 59,326 Charge for year - 620 Eliminated on disposal - - At 31 August 2021 - 59,946 NET BOOK VALUE At 31 August 2021 850,000 1,861 At 31 August 2020 850,000 1,797 10. STOCKS Stocks 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments |
Motor vehicles £ 23,431 15,995 (8,436) 30,990 20,818 4,430 (7,547) 17,701 13,289 2,613 31.8.21 £ 700 31.8.21 £ 33,304 - 1,198 34,502 |
Totals £ 934,554 16,679 (8,436) 942,797 80,144 5,050 (7,547) 77,647 865,150 854,410 31.8.20 £ 500 31.8.20 £ 69,190 16,140 1,012 86,342 |
Totals £ 934,554 16,679 (8,436) 942,797 80,144 5,050 (7,547) 77,647 865,150 854,410 31.8.20 £ 500 31.8.20 £ 69,190 16,140 1,012 86,342 |
|---|---|---|---|
Page 11
Westfield Community Development Association
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other loans (see note 14) Trade creditors Social security and other taxes Pension Control Account Accrued expenses Deferred government grants 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 14) Other loans (see note 14) 14. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: HSBC Loan Amounts falling between one and two years: Other loans - 1-2 years Amounts falling due in more than five years: Repayable by instalments: HSBC loan more than 1 year HSBC CBIL |
31.8.21 £ 6,868 6,135 1,378 3,532 4,147 21,371 43,431 31.8.21 £ 220,838 47,000 267,838 31.8.21 £ 6,868 47,000 80,213 140,625 220,838 |
31.8.20 | 31.8.20 | |
|---|---|---|---|---|
| £ | ||||
| 8,254 | ||||
| 3,793 | ||||
| 7,825 | ||||
| 2,298 | ||||
| 3,193 | ||||
| 28,440 | ||||
| 53,803 | ||||
| 31.8.20 | ||||
| £ | ||||
| 236,271 | ||||
| 57,000 | ||||
| 293,271 | ||||
| 31.8.20 | ||||
| £ | ||||
| 8,254 | ||||
| 57,000 | ||||
| 86,271 | ||||
| 150,000 | ||||
| 236,271 | ||||
Page 12
Westfield Community Development Association
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
15. SECURED DEBTS
The following secured debts are included within creditors:
| Bank loans The loan is secured by a charge on the freehold property. HSBC Bank PLC holds legal mortgage charge dated 14/04/2011 |
31.8.21 £ 220,838 |
31.8.20 |
|---|---|---|
| £ | ||
| 236,271 | ||
16. MOVEMENT IN FUNDS
| Net | ||||
|---|---|---|---|---|
| movement in | ||||
| At 1.9.20 | funds | At 31.8.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 668,517 | (28,918) | 639,599 | |
| TOTAL FUNDS | 668,517 | (28,918) | 639,599 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement in | ||
| resources | expended | funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 580,949 | (609,867) | (28,918) | |
| TOTAL FUNDS | 580,949 | (609,867) | (28,918) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement in | ||||
| At 1.9.19 | funds | At 31.8.20 | ||
| £ | £ | £ | ||
| Unrestricted Funds | ||||
| General fund | 649,913 | 18,604 | 668,517 | |
| TOTAL FUNDS | 649,913 | 18,604 | 668,517 | |
Page 13
Westfield Community Development Association
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 539,044 | (520,440) | 18,604 |
| TOTAL FUNDS | 539,044 | (520,440) | 18,604 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement in | |||
| At 1.9.19 | funds | At 31.8.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 649,913 | (10,314) | 639,599 |
| TOTAL FUNDS | 649,913 | (10,314) | 639,599 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 1,119,993 1,119,993 |
Resources Movement in expended funds £ £ (1,130,307 ) (10,314 (1,130,307 ) (10,314 |
Resources Movement in expended funds £ £ (1,130,307 ) (10,314 (1,130,307 ) (10,314 |
|---|---|---|---|
| (10,314 |
Page 14
Westfield Community Development Association
Detailed Statement of Financial Activities for the Year Ended 31 August 2021
| INCOMING RESOURCES Voluntary income Donations including Gift Aid Grants Activities for generating funds Kids Club and Nursery Social lotteries Canteen Club and Social Courses Minibus and Room Hire Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Costs of Generating Donations Fundraising trading: cost of goods sold and other costs Purchases Childcare Toys and Consumables Sure Start Motor Minibus Expenses Uniforms Bad debts Labour & DBS Expenses Governance costs Accountancy Legal fees Auditors' remuneration Other resources expended Staff Wages & Consultancy Social security Carried forward |
31.8.21 £ 20,844 315,686 336,530 231,435 10 1,233 220 11,521 244,419 580,949 496 19,507 9,998 - 8,891 1,276 29,909 5,244 74,825 1,974 300 360 2,634 396,837 23,148 419,985 |
31.8.20 |
|---|---|---|
| £ | ||
| 17,226 | ||
| 236,316 | ||
| 253,542 | ||
| 267,610 | ||
| 341 | ||
| 4,958 | ||
| 2,700 | ||
| 9,893 | ||
| 285,502 | ||
| 539,044 | ||
| 453 | ||
| 25,337 | ||
| 6,078 | ||
| 3,174 | ||
| 6,180 | ||
| 1,047 | ||
| - | ||
| 2,631 | ||
| 44,447 | ||
| 3,457 | ||
| - | ||
| 360 | ||
| 3,817 | ||
| 370,820 | ||
| 18,365 | ||
| 389,185 |
This page does not form part of the statutory financial statements
Page 15
Westfield Community Development Association
Detailed Statement of Financial Activities for the Year Ended 31 August 2021
| Other resources expended Brought forward Pensions & Redundancy Building Costs Telephone Postage and Stationery Repairs and Cleaning Hire of Equipment Security Costs Sundry Bank Charges Volunteer Expenses Depn of Plant & Machinery Depn of Motor Vehicles Loss on sale of tangible fixed assets Loan Interest Total resources expended Net (expenditure)/income |
31.8.21 £ 419,985 8,827 28,503 7,448 3,288 32,196 2,255 884 9,952 2,360 6,233 620 4,430 889 4,042 531,912 609,867 (28,918) |
31.8.20 |
|---|---|---|
| £ | ||
| 389,185 | ||
| 7,086 | ||
| 31,424 | ||
| 7,172 | ||
| 2,787 | ||
| 9,581 | ||
| 4,104 | ||
| 788 | ||
| 6,570 | ||
| 1,745 | ||
| 612 | ||
| 599 | ||
| 871 | ||
| - | ||
| 9,199 | ||
| 471,723 | ||
| 520,440 | ||
| 18,604 | ||
This page does not form part of the statutory financial statements
Page 16