2022-03-31-accounts - Avonmouth Community Centre Association

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

ACCOUNTS

YEAR ENDED 31 MARCH 2022

Charity Number 1151356

Company Registration Number 07960991

AVONMOUTH COMMUNITY CENTRE ASSOCIATION

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

CONTENTS	PAGE
Legal and Administrative Information	1 to 2
Trustees annual report	3 to 6
Independent Examiner’s Report	7
Statement of financial activities	8
Balance sheet	9
Notes to the Accounts	10 to 17

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

Legal and administrative information

YEAR ENDED 31 MARCH 2022

Status

Avonmouth Community Centre Association is a company limited by guarantee (registration number 07960991) and granted charitable status by the Charity Commission on 25th March 2013 under number 1151356 and governed by its Memorandum and Articles of Association.

Trustees and Directors

Trustees, who are also directors under company law, who served during the year and up to the date of signing the financial statements were:

Judith Hadley Chairperson Patricia Maule Carole Moloney Lynne Wielding Alice Chipasi appointed 21 July 2021 Sarah Benenna appointed 7 December 2021 John Windsor appointed 21 July 2022

Secretary

Judith Hadley

Registered Office

257 Avonmouth Road Avonmouth Village Bristol BS11 9EN

Independent Examiners

Joanne Trowbridge MAAT Bristol Community Accountants CIC The Park, Daventry Road, Knowle Bristol BS4 1DQ

Bankers

Lloyds TSB Westbury-on-Trym Bristol

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

TRUSTEES REPORT

YEAR ENDED 31 MARCH 2022

The Trustees, who are also Directors of the Charity for the purposes of the Companies Act, submit their report and independently examined financial statements for the year ended 31[st] March 2022.

Reference and administrative information set out on page 2 forms part of this report. 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 Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

Structure, Governance and Management

Organisation

Avonmouth Community Centre Association is an incorporated charity, set up to continue the work of Avonmouth Community Centre Association, an unincorporated charity. The charitable aims remain fundamentally unchanged. The activities, assets and liabilities of Avonmouth Community Centre Association were transferred to the incorporated charity on 16[th] April 2014.

The Trustees are appointed or reappointed annually at the AGM.

Objectives and activities

Objects of the Charity

The objects of the charity are:

a) To promote the benefit of the inhabitants of Avonmouth without distinction of sex, sexual orientation, race or of political religious or other opinions, by associating together the said inhabitants 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 and leisure time occupation with the object of improving the conditions of life for the said inhabitants.

b) To establish or secure the establishment of a community centre, and to maintain and manage the same (whether alone or in co-operation with the local authority or other person or body) in furtherance of these objects.

Further to these, it is our mission…

That all residents living in the Bristol ward of Avonmouth enjoy a high quality of life, are able to achieve their economic, social and educational goals, and are part of a strong, prosperous and caring local community.

To manage a community building which provides high quality facilities and a range of activities, that is accessible to all sections of the local community.

To continuously develop and update the building, to meet the changing needs and expectations of the community, both now and in the future.

To provide accommodation for local community groups and public sector organisations, in

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

TRUSTEES REPORT

YEAR ENDED 31 MARCH 2022

order to enhance local services for residents, particularly for those people who are disadvantaged, vulnerable or who face difficulties accessing provision appropriate to their particular needs and circumstances.

To develop activities that increase participation in civic life, including through providing local residents with opportunities for self-development, volunteering and involvement in local decision-making.

Public Benefit

In shaping the objectives for the year and planning activities, the trustees have considered the Charity commission’s guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

Review of activities

The Centre remained closed due to Covid until June 2021. The Centre held a Welcome Back Tea on 17th June 2021. Subsequent to that Thursday Lunch Club resumed on 24th June with much excitement for the members. Supertots resumed with Sarah, early years worker ensuring safe space for those who returned. A new group, La Leche, for breast feeding support began to meet.

The Wednesday Soup lunch turned into Takeaway Soup and was welcomed back by residents and those working nearby.

The Centre continued to offer support for those isolating from Covid, including shopping, collecting prescriptions and phone calls. The takeaway soup became a delivery to homes which was well received. This work continued right through into early 2022.

Funding from Quartet Funding for the Future was received which enabled the Centre to appoint a Bookings and Marketing Co-ordinator for a year and Jo Sergeant began on 5th July 2021. There was also money given to enable a Marketing strategy to be developed.

John Burns retired as Caretaker on 1st August 2021 and was not replaced.

Jac Blacker, Manager of the Centre, left on 19th August 2021 after seven years and this was a significant moment for the Centre. She oversaw the renovation of the buildings and her fundraising enabled the Centre to secure the finances for her replacement as well as enable the renovations.

The board received help from Vivid Regeneration for recruitment and an action plan going forward which included advice and support for strengthening the governance structures. The current staff stepping in to enable the day to day running of the Centre until a new manager could be employed. It was a time of upheaval as the staff shouldered the extra burden of work as well as the reopening after Covid.

The Knitting and Crochet group resumed meeting in July. The Ladies Club and Genealogy group resumed in September as slowly groups returned to meeting in person. Towards the end of September, the Art Group began to meet again.

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

TRUSTEES REPORT

YEAR ENDED 31 MARCH 2022

Outside groups began to hire space from September. The Redeemed Christian Church of God returned in September meeting every Sunday. A new Jiujitsu class began to meet on Tuesdays and Thursdays each week. The weekly Line dancing group began to meet again.

The centre participated in the Macmillan Coffee morning raising money for the cause and on 2nd October held a Fun Palace with a range of fun activities.

Various business bookings were hosted and private parties took place ensuring that the community had access to the buildings and income generation began to pick up again including Chair Yoga on a Friday morning.

A trip to the SS Great Britain for the lunch club was arranged and organised by John Polatch the Communities Officer of the SS Great Britain Trust.

Unfortunately, the Ballet classes ended at the Centre during November. We hosted the Cystic Fibrosis Team holding a food event for families. Young at Heart returned on a Friday.

The lunch club held their Christmas Dinner in December which was also attended by Severnside Rail Partnership and GWR which resulted in a £25,000 donation towards the completion of the Heating system as the next part of the renovation. The turkey, crackers and gateaux were donated by a local paint business.

In January the recruitment process began in earnest for a new manager and an appointment was made mid-January with the new Manager beginning on 1st March. In the meantime, Carole Rendell resigned as Admin assistant.

Severnet Business Breakfast was hosted at the Centre on 17th February with an opportunity to show off the newly renovated premises. The Library reopened on 14th February with an evening event held for residents on 1st March with a good attendance and great celebration.

Reserves policy and risk management

The trustees have identified one of the risks associated with the Community Asset Transfer (C.A.T) is that the Association may not, in future years, have sufficient funds to continue to service the Community Centre, employ staff and subsidise projects. Previous Trustee reports have noted the importance of the Bristol Impact Fund (BIF) grant from Bristol City Council for core staff costs and the necessity to build resilience so that we are able to meet our commitments if this funding should no longer be available.

The Trustees are aware that it is prudent to have unrestricted funds available to cover basic running costs and continue to work towards this. This reserve is to safeguard a continuation of activity whilst further funding is sought for core or project costs. The charity aims to have reserves equal to at least 6 months operating costs which equates to around £40,000.

The Trustees have examined the major risks to which the charity is exposed, and systems have been established to mitigate those risks. These procedures will be periodically reviewed to ensure that they still meet the needs of the charity.

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

TRUSTEES REPORT

YEAR ENDED 31 MARCH 2022

Trustees’ responsibilities in relation to the financial statements

The trustees (who are also directors of Avonmouth Community Centre Association for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies;
observe the methods and principles in the Charities SORP;
make judgments and estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They 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 trustees confirm that to the best of their knowledge there is no information relevant to the independent examination of which the examiners are unaware. The trustees also confirm that they have taken all necessary steps to ensure that they themselves are aware of all relevant examination information and that this information has been communicated to the examiners.

Independent examiners

Joanne Trowbridge of Bristol Community Accountants CIC was appointed as the charitable company’s independent examiner during the year. Joanne Trowbridge is a member the Association of Accounting Technicians.

Signed by order of the Trustees

…………………………………………….

Judith Hadley - Chairperson Date ………………………………2022

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

YEAR ENDED 31 MARCH 2022

Independent examiner’s report to the trustees of Avonmouth Community Centre Association (‘the Company’)

I report on the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its 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 (‘the 2006 Act’).

Having satisfied myself 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 in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 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.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not 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 applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Joanne Trowbridge MAAT ………………………………… ………………………2022

Bristol Community Accountants CIC The Park, Daventry Road, Knowle, Bristol, BS4 1DQ

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account)

YEAR ENDED 31 MARCH 2022

Unrestricted Funds £ 60,238 19,175 7	Restricted Funds £ 94,823 - -	Total Funds 2022 £ 155,061 19,175 7	Restated Total Funds 2021 £ 124,730 2,093 25
79,420	94,823	174,243	126,848
107,122 4,492	31,626 -	138,748 4,492	64,123 11,826
111,614	31,626	143,240	75,949
(32,194) 1,864 (30,330) 366,500	63,197 (1,864) 61,333 26,386	31,003 - 31,003 392,886	50,899 - 50,899 341,987
336,170	87,719	423,889	392,886

All of the activities of the charity are classed as continuing

The notes on pages 10 to 17 form part of these financial statements

As required by paragraph 4.67 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

** See note 16 for full comparative for 2021

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

BALANCE SHEET

YEAR ENDED 31 MARCH 2022

YEAR ENDED 31 MARCH 2022
Note Fixed assets 11 Current assets Debtors 12 Cash at bank and in hand Total current assets Creditors : Amounts falling due within one year 13 Net Current assets or liabilities *Total net assets or liabilities* The Funds of the Charity Restricted funds 14 Unrestricted funds 14 *Total charity funds*	1,243 159,628	2022 £ 275,678 148,211	Restated 2021 £ 306,709 346 109,188
	160,871 (12,660)		109,534 (23,357)
	87,719 336,170
			86,177
		423,889	392,886
			26,386 366,500

		423,889	392,886

The directors are satisfied that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies' regime and in accordance with FRS102 SORP.

These financial statements were approved by the trustees on ………………. and are signed on their behalf by:

………………………………. …………………………… Judith Hadley - Chair of trustees Carole Moloney - Treasurer

The notes on pages 10 to 17 form part of these financial statements

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 Basis of Preparation

a) These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The financial statements have been prepared in accordance with Accounting and Reporting by 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 (FRS 102) (issued on 16 July 2014), as amended by Update Bulletin 2 published in October 2018, effective for accounting periods beginning on or after 1 January 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
b) Preparation of the accounts on a going concern basis

At 31 March 2022, the charity had total funds of £423,889 (2021: £392,886 re-stated as per note 18). Restricted fund amounted to £87,719 (2021: 26,386). The free reserves of the charity, being unrestricted general reserves less fixed assets held in general reserves, totalled £60,492 (2021: £59,791). The target for free reserves is to hold 6 months of running costs, which currently equates to around £40,000.

The impact of the global Coronavirus pandemic has continued to reduce and the charity began returning to 'business as usual' from April 2021, and the trustees, therefore have a reasonable expectation that the charity remains a going concern. The accounts have therefore been prepared on the going concern basis.

c) The charity meets the definition of a public benefit entity as defined by FRS 102.

2 Accounting Policies

a) Income from donations/grants is included in income and endowments when these are receivable, except as follows:

i) When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods.

ii) When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-condition have been met.

b) Expenditure is recognised in the period in which they are incurred. Expenditure includes attributable VAT which cannot be recovered.
c) Most expenditure is directly attributable to specific activities, and have been included in those cost categories. Support cost have been allocated 100% towards the charitable activities of the charity.
d) Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.
e) 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.
f) Individual assets are capitalised at cost. Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows:

Fixtures and fittings 10% reducing balance Computer equipment 3 years straight line Leasehold improvements over 10 years straight line

g) The charity 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 recognised at amortised cost using the effective interest method.
h) The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. Pension costs charged in the financial statements represent the contribution payable by the charitable company during the year.

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

Income and Endowments From:

3 Donations and Legacies

Unrestricted Funds £ 197 56,490 638 2,913	Restricted Funds £ - 94,823 - -	Total Funds 2022 £ 197 151,313 638 2,913	Total Funds 2021 £ - 114,867 - 9,863
60,238	94,823	155,061	124,730
Unrestricted Funds £ 62,977 9,863	Restricted Funds £ 51,890 -	Total Funds 2021 £ 114,867 9,863	Total Funds 2021 £ 2,093 -
72,840	51,890	124,730
Unrestricted Funds £ 19,175 -	Restricted Funds £ - -	Total Funds 2022 £ 19,175 -
19,175	-	19,175	2,093
Unrestricted Funds £ 2,093	Restricted Funds £ -	Total Funds 2021 £ 2,093	Total Funds 2021 £
2,093	-	2,093
Unrestricted Funds £	Restricted Funds £	Total Funds 2022 £
7	-	7	25
Unrestricted Funds £	Restricted Funds £	Total Funds 2021 £
25	-	25

4 Other Trading Income

5 Investments

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

Expenditure on:

6 Charitable activities Projects & Activities Wages & Sessional Workers Telephone & IT Utilities Cleaning & Catering Supplies Miscellaneous Rates Repairs & Renewals Postage/ Stationery Payroll Subscriptions & Memberships Employee Expenses Training Depreciation Insurance Bank Charges Repaid Grant Advertising and Promotional Bad Debt Charitable activities prior year Projects & Activities Wages & Sessional Workers Telephone & IT Travel & Subsistence Cleaning & Catering Supplies Miscellaneous Repairs & Renewals Postage/ Stationery Payroll Subscriptions & Memberships Depreciation Insurance Bank Charges Repaid Grant Bad Debt	Unrestricted Funds £ 2,590 31,589 1,118 22,718 1,248 - 328 10,053 110 1,509 868 618 492 31,031 2,392 140 - 318 -	restated Restricted Total Funds Total Funds Funds 2022 2021 £ £ £ - 2,590 411 24,626 56,215 50,713 - 1,118 2,331 - 22,718 - - 1,248 864 - - 602 - 328 - - 10,053 2,551 - 110 50 - 1,509 2,023 - 868 461 - 618 - - 492 - - 31,031 565 - 2,392 2,347 - 140 105 7,000 7,000 100 - 318 - - - 1,000
	107,122	31,626 138,430 64,123
	Unrestricted Funds £ 411 24,378 1,191 - 864 602 2,551 50 2,023 461 565 2,347 105 100 1,000	Restricted Total Funds Funds 2021 £ £ - 411 26,335 50,713 1,140 2,331 - - - 864 - 602 - 2,551 - 50 - 2,023 - 461 - 565 - 2,347 - 105 - 100 - 1,000 27,475 64,123
	36,648

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

7 Other

Unrestricted Funds £ 1,175 3,317	Restricted Funds £ - -	Total Funds 2022 £ 1,175 3,317	Total Funds 2021 £ 1,056 10,770
4,492	-	4,492	11,826
Unrestricted Funds £ 1,056 1,100	Restricted Funds £ - 9,670	Total Funds 2021 £ 1,056 10,770	2021 £ 565 827
2,156	9,670	11,826
		2022 £ 31,031 1,175
		2022 £ 56,215 - -	2021 £ 50,124 - 589
		56,215	50,713

8 Staff costs and numbers

No employee received emoluments of more than £60,000 (2021: £Nil)

The average monthly head count was 9 staff (2021: 9 staff)

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2021: £nil) neither were they reimbursed expenses during the year (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil).

The key management personnel of the charity comprise the board of trustees & the Centre Manager. The total employee benefits of key management personnel, during the year, total £26,470 (2021: £26,470).

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

9 Related Party Transactions

There were no related party transactions during the year (2021: £Nil)

10 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargable Gains Act 1992 to the extent that these are applied to its charitable objects.

11 Tangible fixed assets

Leasehold Fixtures Improvements & Fittings £ £ 304,829 3,097	Leasehold Fixtures Improvements & Fittings £ £ 304,829 3,097	Computer £ 2,046	Total £ 309,972
304,829	3,097	2,046	619,944
- 30,483	1,617 148	1,646 400	3,263 31,031
30,483	1,765	2,046	34,294
274,346	1,332	-	275,678
304,829	1,480	400	306,709
year		2022 £ 1,243	2021 £ 346
		1,243	346
		2022 £ - 10,840 - 645 1,175	2021 £ 1,481 20,000 464 442 970
		12,660	23,357

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

At 01-Apr 2021 £ 7,332 4,000 1,864 1,630 4,560 - - - 7,000	Incoming resources £ 23,348 - - - - 42,475 4,000 25,000 -	Outgoing resources £ (11,527) (4,000) - - (4,560) (2,552) (1,987) - (7,000)	Transfers/ Gains £ - - (1,864) - - - - - -	At 31-Mar 2022 £ 19,153 - - 1,630 - 39,923 2,013 25,000 -
26,386	94,823	(31,626)	(1,864)	87,719
59,791 306,709	79,420 -	(80,583) (31,031)	1,864 -	60,492 275,678
366,500	79,420	(111,614)	1,864	336,170

392,886	174,243	(143,240)	-	423,889

Purpose of designated funds

Capital assets depreciation fund represents the value of leasehold property improvements held on the balance sheet at year end which are designated on the basis that the underlying assets could not be sold by the charity.

Restricted Funds:

Quartet - Funding the Future - Employment of part-time development worker and development training for board and manager.

Bristol Impact Fund - enabling local people to enhance their health and wellbeing. Avonloud Mouth

Linkage - Mens group

Bristol City Council - Centre Managers Salary costs and Your Holiday Hub in July/August 2021 Kick Start - Avonmouth Health Improvement action plan

Community Grant Programme - Heating repairs

Quartet Community Foundation - No Child Goes Hungry Project

Transfer between funds

Contribution towards project costs identified as unrestricted expenditure in previous years.

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

15 Analysis of net assets between funds

Fixed Assets Cash at Bank and In Hand Other Net Current Assets/Liabilities) Total	General Funds £ 275,678 (203,769) (11,417)	Restricted Funds £ - 87,719 -	Designated Total Funds Funds £ £ - 275,678 275,678 159,628 - (11,417) 275,678 423,889
	60,492	87,719

16 Analysis of Charitable Funds - Previous Year (as required by paragraph 4.2. of the SORP)

Unrestricted Funds £ 72,840 2,093 25	Restricted Funds £ 51,890 - -	restated Total Funds 2021 £ 124,730 2,093 25
74,958	51,890	126,848
36,648 11,826	27,475 -	64,123 11,826
48,474	27,475	75,949
26,484 160,777 187,261 179,239	24,415 (160,777) (136,362) 162,748	50,899 - 50,899 341,987
366,500	26,386	392,886

17 Company limited by guarantee

The company is limited by guarantee and as such has no issued share capital. In the event of the company being wound up the liability of the members is limited to £1 each.

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AVONMOUTH COMMUNITY CENTRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

18 Prior year adjustment

The prior year comparatives have been restated to recognise the significant capital spend during the prior year as a leasehold improvement asset on the balance sheet. A designated capital asset depreciation fund has been introduced to enable to readers of the accounts to clearly identify free reserves.

leasehold improvement asset on the balance sheet. A designated capital asset depreciation enable to readers of the accounts to clearly identify free reserves.	fund has been introduced to
Funds b/fwd prior to adjustment Fund b/fwd after prior year adjustment Recognition of leasehold improvement asset	General Total funds funds £ £ 61,671 88,057 304,829 304,829
	366,500 392,886

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