Berrow Community Association Limited Annual General Meeting 7[th] May 2025 

Chairmans Statement 

Yet again it’s been a busy year for our Village Hall. Bookings have remained stable and we have welcomed some new regular users. Weekend bookings have started to Improve so it’s a very busy hall. 

The year has seen us carry out some vital improvements to the building. The flat roof has now been completely restored solving the damp issues we were experiencing. The new sound system with its hearing loop has been well received. The lighting in the main halls has been switched to LED bulbs and along with the Solar panels, which are now in place, means we will see a reduction in our electrical costs. The back area has been prepared by Richard Eaton Trustee and we await the laying of the concrete. The Hall floor has been sanded back and resealed ensuring its future for the coming years. Our huge thanks must go to The Hinckley Point Community Fund and the Sunley Foundation who made all of this possible. 

The year has seen some staff changes with Graham Walter our Hall manager standing down and his replacement Clare Prior quickly coming up to speed. We have also welcomed new Trustees Simone Lynch who brings to the Trustees experience in the Insurance Industry and Mike Wise a local resident and ex Chair of the Parish Council. 



It was with thanks and good wishes we said goodbye to Owen Davies our previous chair who after 12 years of service to the Hall decided to stand down. 

The village hall lottery continues to provide a vital source of income but there is a need to recruit a few more participants to ensure it continues to give the funds we need for the hall. The trustees will be reviewing our charges over the coming months to ensure we continue to balance the books but remain fair to all our users. 

In concluding I would like to thank our great team of staff and my fellow trustees for all their support over the past year . We have faced many challenges but by working together we have continued to provide a Hall fit for purpose. 

David Stickels Chair                                                   07. 05 .2025 



Registration number.. 819S454
Berrow Community Association Limited
(A company limited by guarantee)
Annual Report and Unaudited Financial Statements
for the Year Ended 30 September 2024
WESTCOTTS
CHARTERED ACCOUNTANTS
& BU$INE85 ADVISER$

BERROW COMMUNITY ASSOCIATION LIMITED
CONTENTS
Company Information
Directors, Report
Accountants, Report
Profit and Loss Account and Statement of Retained Earnlngs
stalement of Financial Position
Notes to the Unaudited Financial Statements
61010
Detailed Statement of Comprehensive Income
11

BERROW COMMUNITY ASSOCIATION LIMITED
COMPANY INFORMATION
Dir8Ctor8
Mr KM Gough
Mr M Wise
Mr D Stickels
Mr R Eaton
Reg Istered offl¢e
Village Hall
Parsonage Road
Berrow
Burnham on Sea
Somersel
TA8 2NW
Accountant8
Westcotts
Chartered Accountants
80 Oxford Street
Burnham-on-sea
Somerset
TA8 1EF
Page 1

BERROW COIAMUNITY ASSOCIATION LIMITED
DIRECTORS, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors present their report and the financial statements for the year ended 30 September 2024.
Dlrectors of the company
The directors who held Offi￿ during the year were £s follows,,
Mr K M Gough
Mr Q Davies FCA (ceased 19 June 2024)
Mr M Wise
Mr D Stickels
Mr R Eaton
Small companles provlsion statement
Thls report has been prepared in accordance with the special provisions relating to companies subject
to the small companies regirne within Part 15 of the Companies Act 2006,
Approv&J and authorised by the Board on o
v¥ and signed on its behalf by..
Mr D Stickels
Director
Page 2

CHARTERED ACCOUNTANTS. REPORT TO THE BOARD OF DIRECTORS ON THE
PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF
BERROW COIAMUNITY ASSOCIATION LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2024
In order lo assist you to fulfil your duties under the Companies Act 2006, we have prepared for your
approv81 the accounts of Berrow Community Association Limited for the year ended 30 September
2024 as Sel out on pages 4 to 10 from the company's accounting records and from information and
explanations you have given us.
As a practising rnember firm of the Institute of Chartered Accountants In England and Wales IICAEW),
we are subject to ils ethical and other professional requirements which are detailed at
http'.Ilwvww. icaew.comlregulation,
This report is made solely to the Board of Directors of Berrow Community Association Limited, as a
body, in accordance w'th the terms of our engagement letter. Our work has been undertaken solely to
prepare for your approval the accounts of Berrow Community Asscciaticn Limited and state those
matters that we have agreed to state to the Board of Director8 of Berrow Community Association
LSmited, as a body, in this report in accordance wth ICAEW Technical Release 07116 AAF, To the
fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Berrow Community Associatlon Limited and ils Board of Directors as a body for our work or for this
report.
It is your duty to ensure that Berrow Community Associstion Limited has kept adequate accounting
records and to prepare statutory aGcounts that give a true and fair view of the assets, liabilities,
financial posltlon and profit of Berrow Community Association Limited. You consider that Berrow
Community Association Limiled is exempt from the statutory audit requirement for the year.
We have not been instructed lo carry out an audit or a review of the accounts of Berrcw Community
Association Limited, For this reason, we have not verlfled the accuracy or completeness of the
accounting records or informatlon and explanations you have given to us and vwe do not, therefore,
express any opinion on the statutory accounts.
Westcotts
Chartered Accountants
80 Oxford Street
Burnham-on-sea
Somerset
TA81EF
Date..
Page 3

BERROW COMMUNITY ASSOCIATION LIMITED
PROFIT AND LOSS ACCOUNT AND STATEMENT OF RETAINED EARNINGS FOR THE
YEAR ENDED 30 SEPTEMBER 2024
{As restated)
2024
2023
Note
Turnover
63,676
38,530
Administrative expenses
228,223
31,060
Operating surplu8
Other interest receivable and similar income
Interest payable and similar charges
291899
29
5,882
15,653)
28
6,046
6,018
Surplus before tax
1,452
Surplus for the financlal year
Retained earnings brought forward
Retained earning8 carried forward
286,246
1,452
255,028
253,576
541,274
255,028
The notes on pages 6 to 10 form an integral part of these flnancial statements,
Page 4

BERROW COMMUNITY ASSOCIATION LIMITED
(REGISTRATION NUMBER: 8199454)
STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2024
(As reststed)
2024
2023
Note
Flxed assets
Tangible assets
Current assets
Stocks
Debtors
Cash at bank and in hand
633,859
340,281
724
1,223
4,642
6,589
4,484
10,895
16,173
Creditors.. Amounts falling due within one year
19,215
16,540
Net current liabilities
12,626
367
Total assets less current liabilities
621,233
79,959
339,914
Credltorn.. Amounts falling due afler more than one year
Net assets
84,886
541274
255,028
ReseNes
Profit and10ss account
541,274
255,028
Surplus
541,274
255,028
For the financial year ending 30 September 2024 the cornpany was entitled to exemption from audit
under section 477 of the Comp8nies Act 2006 relating to Small companies.
Di rectors, responsibilities-
The members have not required the company to obtain an audit of its accounts for the year in
question in accordance with section 476., and
The directors a¢knO￿edge thelr responslbllitles for complyirvJ with the requiremenls of the Act with
respect to accountlng records and the preparatlon of accounts.
These financial statements have been prepared in accordance wilh the provisions applicable to
companies subject to the small companies regime and FRS 102 'The Financial Reporting Standard
Applicable in the UK and Republic of Ireland,.
Approved and authorised by the Board on .
2D>¥. and signed on its behalf by..
Mr D Stickels
Director
The notes on pages 6 to 10 fomi an integral part of these financial statements.
Page 5

BERROW COMMUNITY ASSOCIATION LIMITED
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30
SEPTEMBER 2024
1 General Infonnation
The company is a company limited by guarantee, Sncorporaled in England and Wales, and
consequently does not have share capital. Each of the members is liable to contribute an amount not
exceeding £Nil towards the assets of the company In the event of liquidation.
The address of its regislered office is.,
Vlllage Hall
Parsonage Road
Berrow
Burnham on Sea
Somerset
TA8 2NW
Principal activity
The prlnclpal activity of the company Is rental of Berrow Village Hall.
2 Accountlng policles
statement of compliance
These financial statements have been prepared in accordance wlth Financial Reporting Standard 102
Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and
Republic of Ireland, and the Companies Act 2006 (as applicable to companies subject to the small
companies, regirne)-
Basls of preparation
These financial statements have been prepared uslng the historical cost convention except that as
disclosed in the accounting policies certain Items are shown at fair value.
The financlal statements are prepared in sterling which is the functional currency of the entity.
Chang8s in accounting policy
The following have been applied for the first time from 1 October 2023 and have had an effect on the
financial statements..
Freehold Property
The accounting policy in respect of the depreciation of freehold property has been revised in the year
under review, with the result that there is a restatement of the previous year. The restatement was
made by the directors so that the v8luation and depreciation of the property reflected the provisions of
FRS 102.
As a result of this restatement, accumulated depreciation in respect of prior years of £63,923 has
been adjusted.
Revenue recognition
Turnover is measured at the fair value of the conslderation received or receivable and represents
amounts receivable for the letting of the company's freehold property, net of Value Added Tax,
together with rents, grants and funding re￿1ve￿.
Page 6

BERROW COMMUNITY ASSOCIATION LIMITED
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30
SEPTEMBER 2024 (CONTINUED)
2 Accounting pollcles {contlnued
Tangibl@ assets
Tangible assets are slated in the statement of financial position at cost, less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly 8ttributable Incremental costs incurred i n their acquisition
and installation.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
comprehensive income and accumulated in equity, except to the extent it reverses a revaluation
decrease of the same asset prevlously recognised in profit or loss. A decrease in the carrying amount
of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of
any previously recognlsed revaluation increase accumulated In equity in respect of that asset. Where
a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect
of that asset, the eX￿s$ shall be recognised in profit or loss.
Depreciation
Depreciation is charged so as to write off tha cost of assets, other than land and properties under
construction over their estimated useful lives, as follows..
Asset class
Fumiture and equipment
Freehold property
Sclar panels
Impaimient
A review for indicators of impairm8nt is Garried out at eaGh reporting date, with the recoverable
amount beln9 estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewecl for
possible reversal at each reporting dale.
Depreclation method and rate
20 % straighl line
2% straight line
1 OD/0 Straight l ine
Cash and cash equlvalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and
other short-term highly liquid investments that are readily convertible to a known amount of cash and
are Subject to an insignificant risk of change in value. In the statement of financial position, bank
overdrafts are shown withi n borrowing or current liabilities
stocks
Stocks are measured at the lower of cost and estimated selllng price less costs to complete and sell.
Costs Include all costs of purchase, costs of conversion and other costs incurred in bringing the
stocks to their present location and condition.
Page 7

BERROW COKqMUNITY ASSOCIATION LIMITED
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30
SEPTEMBER 2024 (CONTINUED)
2 Accountlng policies (continued)
Borrowings
Interest-bearing borrowings are Initially recorded at fair value, net of transaction costs.
Interest-bearlng borrowings are subsequently carried at amortised cost, with the differen￿ between
the proceeds, net of transaction costs, and the amount due on redemption being recognised as a
charge to the statement of comprehensive income over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest
payable and similar Gharges.
Borrowings are classified as current liabllitles unless the com pany has an unconditional right to defer
settlement of the liability for at least twelve months after the reporting date.
Share capltal
The company is a company 11mll￿ by guarantee and has no share rApital.
Financlal Instruments
Recognltlon and measurement
A financial asset or a fin2nclal Ilability is recognised only when the company becomes paty to the
contractual provisions of the instrument,
Basic financial Instruments are Inltially recognised at the transaction pri￿, unless the arrangement
constitutes a financing transaction, where It Is recognised at the present value of the fulure payments
discounted at a market rate of interest for a similar debt instrument.
3 Staff numbers
The average number of persons employed by the company (including directors) during the year, wa5
412023 - 4).
Page 8

BERROW COMMUNITY ASSOCIATION LIMITED
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30
SEPTEMBER 2024 (CONTINUED)
4 Profit before tax
Arrived at after chargingl{creditingl
2024
2023
Depreciation expense
13,g19
S Tangible assets
Freehold
property
Furniture &
equipment
Solar
panels
Total
Cost or valuatlon
At 1 October 2023
Revaluations
Additions
399,518
300,482
13,720
13,205 426,443
300,482
7,015
7,015
At 30 September 2024
Depreclatlon
At 1 October2023
Charge for the year
At 30 September 2024
Carylng amount
At 30 September 2024
700,000
13 205 733,94Q
70,315
11,200
13,206
2,641
1,320
86,162
13,919
81,515
3961 100081
618,485
9 244 633,859
At 30 September 2023
329,203
514
10,564 340,281
Revaluation
The freehold property was revalued by the directors on 30 September 2024 to £700,000. The
valuation was based on the rental yield of the property. Included within freehold property is land at a
Value of £140,000. Had this class of asset been measured on a historical cost basis, the carrying
amount would have been £399,518 (2023 £399,518).
Page 9

BERROW COMMUNITY ASSOCIATION LIMITED
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30
SEPTEMBER 2024 (CONTINUED)
6 Debtors
2024
2023
Trade debtors
Other debtors
Prepayments
1,009
3,946
207
538
7 Credltors
Creditor6: amounts falllng due wlthln one year
2024
2023
Note
Due within ong year
Loans and bDrrowngs
Trade creditors
Taxation and SOGial security
Accruals and deferred income
Other creditors
4,528
30
4,528
25
904
10,953
130
14,477
180
19,215
16,540
Creditors: amounts falllng due after more than on8 y8ar
2024
2023
Note
Du8 aft8r ong year
Loans and borrowings
79,959
84,886
8 Reserves
Profit and loss account..
This reserve records retained earnings and accumulated losse5.
Page 10

8ERROW COMMUNITY ASSOCIATION LIMITED
DETAILED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30
SEPTEMBER 2024
2024
2023
Turnover
28,568
Other Income
Lottery funding
Grants and subsidies
2,049
33,059
35,108
2,281
2,000
4,281
Gross surplus
63,676
Administrativ8 expenses
Wages and salaries
Rates and water
Light and heat
Insurance
Repairs and maintenance
Roof Repairs
Floor r&varnishing etc
Telephone
Website costs
LI￿nCeS
Sundry expenses
Cleaning and materials
Accountancy fees
Legal and professional fees
Bank charges
Depreciation of tangible assets
Gainl{loss) from investment property
14,087
1,287
1,704
1,425
2,261
26,388
5,400
418
534
987
12
2,637
1,160
12,292
330
2,711
1,155
837
362
728
366
155
1,772
973
123
60
9,196
60
13,919
1300,482)
228,223
31,OeO
Operating surplus
other interest receivable and similar income
Interest payable and sirllilar expenses
291899
(291
5,682
(281
5,653
6,018
Surplus before tax
286 246
This page does not form part of the statutory financial statements.
Page11

Registration number.. 819S454
Berrow Community Association Limited
(A company limited by guarantee)
Annual Report and Unaudited Financial Statements
for the Year Ended 30 September 2024
WESTCOTTS
CHARTERED ACCOUNTANTS
& BU$INE85 ADVISER$

BERROW COMMUNITY ASSOCIATION LIMITED
CONTENTS
Company Information
Directors, Report
Accountants, Report
Profit and Loss Account and Statement of Retained Earnlngs
stalement of Financial Position
Notes to the Unaudited Financial Statements
61010
Detailed Statement of Comprehensive Income
11

BERROW COMMUNITY ASSOCIATION LIMITED
COMPANY INFORMATION
Dir8Ctor8
Mr KM Gough
Mr M Wise
Mr D Stickels
Mr R Eaton
Reg Istered offl¢e
Village Hall
Parsonage Road
Berrow
Burnham on Sea
Somersel
TA8 2NW
Accountant8
Westcotts
Chartered Accountants
80 Oxford Street
Burnham-on-sea
Somerset
TA8 1EF
Page 1

BERROW COIAMUNITY ASSOCIATION LIMITED
DIRECTORS, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors present their report and the financial statements for the year ended 30 September 2024.
Dlrectors of the company
The directors who held Offi￿ during the year were £s follows,,
Mr K M Gough
Mr Q Davies FCA (ceased 19 June 2024)
Mr M Wise
Mr D Stickels
Mr R Eaton
Small companles provlsion statement
Thls report has been prepared in accordance with the special provisions relating to companies subject
to the small companies regirne within Part 15 of the Companies Act 2006,
Approv&J and authorised by the Board on o
v¥ and signed on its behalf by..
Mr D Stickels
Director
Page 2

CHARTERED ACCOUNTANTS. REPORT TO THE BOARD OF DIRECTORS ON THE
PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF
BERROW COIAMUNITY ASSOCIATION LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2024
In order lo assist you to fulfil your duties under the Companies Act 2006, we have prepared for your
approv81 the accounts of Berrow Community Association Limited for the year ended 30 September
2024 as Sel out on pages 4 to 10 from the company's accounting records and from information and
explanations you have given us.
As a practising rnember firm of the Institute of Chartered Accountants In England and Wales IICAEW),
we are subject to ils ethical and other professional requirements which are detailed at
http'.Ilwvww. icaew.comlregulation,
This report is made solely to the Board of Directors of Berrow Community Association Limited, as a
body, in accordance w'th the terms of our engagement letter. Our work has been undertaken solely to
prepare for your approval the accounts of Berrow Community Asscciaticn Limited and state those
matters that we have agreed to state to the Board of Director8 of Berrow Community Association
LSmited, as a body, in this report in accordance wth ICAEW Technical Release 07116 AAF, To the
fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Berrow Community Associatlon Limited and ils Board of Directors as a body for our work or for this
report.
It is your duty to ensure that Berrow Community Associstion Limited has kept adequate accounting
records and to prepare statutory aGcounts that give a true and fair view of the assets, liabilities,
financial posltlon and profit of Berrow Community Association Limited. You consider that Berrow
Community Association Limiled is exempt from the statutory audit requirement for the year.
We have not been instructed lo carry out an audit or a review of the accounts of Berrcw Community
Association Limited, For this reason, we have not verlfled the accuracy or completeness of the
accounting records or informatlon and explanations you have given to us and vwe do not, therefore,
express any opinion on the statutory accounts.
Westcotts
Chartered Accountants
80 Oxford Street
Burnham-on-sea
Somerset
TA81EF
Date..
Page 3

BERROW COMMUNITY ASSOCIATION LIMITED
PROFIT AND LOSS ACCOUNT AND STATEMENT OF RETAINED EARNINGS FOR THE
YEAR ENDED 30 SEPTEMBER 2024
{As restated)
2024
2023
Note
Turnover
63,676
38,530
Administrative expenses
228,223
31,060
Operating surplu8
Other interest receivable and similar income
Interest payable and similar charges
291899
29
5,882
15,653)
28
6,046
6,018
Surplus before tax
1,452
Surplus for the financlal year
Retained earnings brought forward
Retained earning8 carried forward
286,246
1,452
255,028
253,576
541,274
255,028
The notes on pages 6 to 10 form an integral part of these flnancial statements,
Page 4

BERROW COMMUNITY ASSOCIATION LIMITED
(REGISTRATION NUMBER: 8199454)
STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2024
(As reststed)
2024
2023
Note
Flxed assets
Tangible assets
Current assets
Stocks
Debtors
Cash at bank and in hand
633,859
340,281
724
1,223
4,642
6,589
4,484
10,895
16,173
Creditors.. Amounts falling due within one year
19,215
16,540
Net current liabilities
12,626
367
Total assets less current liabilities
621,233
79,959
339,914
Credltorn.. Amounts falling due afler more than one year
Net assets
84,886
541274
255,028
ReseNes
Profit and10ss account
541,274
255,028
Surplus
541,274
255,028
For the financial year ending 30 September 2024 the cornpany was entitled to exemption from audit
under section 477 of the Comp8nies Act 2006 relating to Small companies.
Di rectors, responsibilities-
The members have not required the company to obtain an audit of its accounts for the year in
question in accordance with section 476., and
The directors a¢knO￿edge thelr responslbllitles for complyirvJ with the requiremenls of the Act with
respect to accountlng records and the preparatlon of accounts.
These financial statements have been prepared in accordance wilh the provisions applicable to
companies subject to the small companies regime and FRS 102 'The Financial Reporting Standard
Applicable in the UK and Republic of Ireland,.
Approved and authorised by the Board on .
2D>¥. and signed on its behalf by..
Mr D Stickels
Director
The notes on pages 6 to 10 fomi an integral part of these financial statements.
Page 5

BERROW COMMUNITY ASSOCIATION LIMITED
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30
SEPTEMBER 2024
1 General Infonnation
The company is a company limited by guarantee, Sncorporaled in England and Wales, and
consequently does not have share capital. Each of the members is liable to contribute an amount not
exceeding £Nil towards the assets of the company In the event of liquidation.
The address of its regislered office is.,
Vlllage Hall
Parsonage Road
Berrow
Burnham on Sea
Somerset
TA8 2NW
Principal activity
The prlnclpal activity of the company Is rental of Berrow Village Hall.
2 Accountlng policles
statement of compliance
These financial statements have been prepared in accordance wlth Financial Reporting Standard 102
Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and
Republic of Ireland, and the Companies Act 2006 (as applicable to companies subject to the small
companies, regirne)-
Basls of preparation
These financial statements have been prepared uslng the historical cost convention except that as
disclosed in the accounting policies certain Items are shown at fair value.
The financlal statements are prepared in sterling which is the functional currency of the entity.
Chang8s in accounting policy
The following have been applied for the first time from 1 October 2023 and have had an effect on the
financial statements..
Freehold Property
The accounting policy in respect of the depreciation of freehold property has been revised in the year
under review, with the result that there is a restatement of the previous year. The restatement was
made by the directors so that the v8luation and depreciation of the property reflected the provisions of
FRS 102.
As a result of this restatement, accumulated depreciation in respect of prior years of £63,923 has
been adjusted.
Revenue recognition
Turnover is measured at the fair value of the conslderation received or receivable and represents
amounts receivable for the letting of the company's freehold property, net of Value Added Tax,
together with rents, grants and funding re￿1ve￿.
Page 6

BERROW COMMUNITY ASSOCIATION LIMITED
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30
SEPTEMBER 2024 (CONTINUED)
2 Accounting pollcles {contlnued
Tangibl@ assets
Tangible assets are slated in the statement of financial position at cost, less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly 8ttributable Incremental costs incurred i n their acquisition
and installation.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
comprehensive income and accumulated in equity, except to the extent it reverses a revaluation
decrease of the same asset prevlously recognised in profit or loss. A decrease in the carrying amount
of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of
any previously recognlsed revaluation increase accumulated In equity in respect of that asset. Where
a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect
of that asset, the eX￿s$ shall be recognised in profit or loss.
Depreciation
Depreciation is charged so as to write off tha cost of assets, other than land and properties under
construction over their estimated useful lives, as follows..
Asset class
Fumiture and equipment
Freehold property
Sclar panels
Impaimient
A review for indicators of impairm8nt is Garried out at eaGh reporting date, with the recoverable
amount beln9 estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewecl for
possible reversal at each reporting dale.
Depreclation method and rate
20 % straighl line
2% straight line
1 OD/0 Straight l ine
Cash and cash equlvalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and
other short-term highly liquid investments that are readily convertible to a known amount of cash and
are Subject to an insignificant risk of change in value. In the statement of financial position, bank
overdrafts are shown withi n borrowing or current liabilities
stocks
Stocks are measured at the lower of cost and estimated selllng price less costs to complete and sell.
Costs Include all costs of purchase, costs of conversion and other costs incurred in bringing the
stocks to their present location and condition.
Page 7

BERROW COKqMUNITY ASSOCIATION LIMITED
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30
SEPTEMBER 2024 (CONTINUED)
2 Accountlng policies (continued)
Borrowings
Interest-bearing borrowings are Initially recorded at fair value, net of transaction costs.
Interest-bearlng borrowings are subsequently carried at amortised cost, with the differen￿ between
the proceeds, net of transaction costs, and the amount due on redemption being recognised as a
charge to the statement of comprehensive income over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest
payable and similar Gharges.
Borrowings are classified as current liabllitles unless the com pany has an unconditional right to defer
settlement of the liability for at least twelve months after the reporting date.
Share capltal
The company is a company 11mll￿ by guarantee and has no share rApital.
Financlal Instruments
Recognltlon and measurement
A financial asset or a fin2nclal Ilability is recognised only when the company becomes paty to the
contractual provisions of the instrument,
Basic financial Instruments are Inltially recognised at the transaction pri￿, unless the arrangement
constitutes a financing transaction, where It Is recognised at the present value of the fulure payments
discounted at a market rate of interest for a similar debt instrument.
3 Staff numbers
The average number of persons employed by the company (including directors) during the year, wa5
412023 - 4).
Page 8

BERROW COMMUNITY ASSOCIATION LIMITED
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30
SEPTEMBER 2024 (CONTINUED)
4 Profit before tax
Arrived at after chargingl{creditingl
2024
2023
Depreciation expense
13,g19
S Tangible assets
Freehold
property
Furniture &
equipment
Solar
panels
Total
Cost or valuatlon
At 1 October 2023
Revaluations
Additions
399,518
300,482
13,720
13,205 426,443
300,482
7,015
7,015
At 30 September 2024
Depreclatlon
At 1 October2023
Charge for the year
At 30 September 2024
Carylng amount
At 30 September 2024
700,000
13 205 733,94Q
70,315
11,200
13,206
2,641
1,320
86,162
13,919
81,515
3961 100081
618,485
9 244 633,859
At 30 September 2023
329,203
514
10,564 340,281
Revaluation
The freehold property was revalued by the directors on 30 September 2024 to £700,000. The
valuation was based on the rental yield of the property. Included within freehold property is land at a
Value of £140,000. Had this class of asset been measured on a historical cost basis, the carrying
amount would have been £399,518 (2023 £399,518).
Page 9

BERROW COMMUNITY ASSOCIATION LIMITED
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30
SEPTEMBER 2024 (CONTINUED)
6 Debtors
2024
2023
Trade debtors
Other debtors
Prepayments
1,009
3,946
207
538
7 Credltors
Creditor6: amounts falllng due wlthln one year
2024
2023
Note
Due within ong year
Loans and bDrrowngs
Trade creditors
Taxation and SOGial security
Accruals and deferred income
Other creditors
4,528
30
4,528
25
904
10,953
130
14,477
180
19,215
16,540
Creditors: amounts falllng due after more than on8 y8ar
2024
2023
Note
Du8 aft8r ong year
Loans and borrowings
79,959
84,886
8 Reserves
Profit and loss account..
This reserve records retained earnings and accumulated losse5.
Page 10

8ERROW COMMUNITY ASSOCIATION LIMITED
DETAILED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30
SEPTEMBER 2024
2024
2023
Turnover
28,568
Other Income
Lottery funding
Grants and subsidies
2,049
33,059
35,108
2,281
2,000
4,281
Gross surplus
63,676
Administrativ8 expenses
Wages and salaries
Rates and water
Light and heat
Insurance
Repairs and maintenance
Roof Repairs
Floor r&varnishing etc
Telephone
Website costs
LI￿nCeS
Sundry expenses
Cleaning and materials
Accountancy fees
Legal and professional fees
Bank charges
Depreciation of tangible assets
Gainl{loss) from investment property
14,087
1,287
1,704
1,425
2,261
26,388
5,400
418
534
987
12
2,637
1,160
12,292
330
2,711
1,155
837
362
728
366
155
1,772
973
123
60
9,196
60
13,919
1300,482)
228,223
31,OeO
Operating surplus
other interest receivable and similar income
Interest payable and sirllilar expenses
291899
(291
5,682
(281
5,653
6,018
Surplus before tax
286 246
This page does not form part of the statutory financial statements.
Page11