**Charity registration number 1151930** **Company registration number 08224725 (England and Wales)** ## **WRIGHTS MEADOW CENTRE** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022** ## **WRIGHTS MEADOW CENTRE** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **Trustees** Mr. P J Cartwright Mr. R Farmer Mr. G Harmsworth Mr. T Snaith Ms J Moxon (Appointed 30 March 2022) **Committee Officers** Mr F Edwards President Mr R Farmer/ Mr S Hymers Chairman Mr G Card/ Mr R Farmer Vice Chairman Mrs J Card/Mrs A Bowles Secretary Mrs K Farmer/ Mr G Harmsworth Treasurer **General Committee** Mrs J Card Mr D Billing Mr S Hymers Mrs B Galbraith Mrs P Guttridge Miss L Whiting Miss D Guy **Charity number** 1151930 **Company number** 08224725 **Registered office** Wrights Meadow Road Wycombe Marsh High Wycombe Buckinghamshire United Kingdom HP11 1SQ **Independent examiner** Azets Audit Services Suites B & D Burnham Yard Beaconsfield Bucks United Kingdom HP9 2JH ## **WRIGHTS MEADOW CENTRE** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 3| |Independent examiner's report|4| |Statement of financial activities|5| |Balance sheet|6| |Notes to the financial statements|7 - 14| ## **WRIGHTS MEADOW CENTRE** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_ The trustees present their report and financial statements for the year ended 30 September 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's governing document, the Companies Act 2006 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 2019)". ## **Objectives and activities** The charitable company's objects are to further or benefit the residents of High Wycombe and the neighbourhood, without distinction of sex, sexual orientation, race, political, religious or other opinions and associate them together with local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities with the interest of social welfare for recreation leisure time. The objective is to improve the conditions of life for the residents. The policies adopted in furtherance of these objects are: 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. The charity's mission statement is to provide all members of our community access to a safe welcoming place to meet in friendship and enjoy recreation, exercise and learning. There has been no change in these during the year. The aim of the charity is to help build and sustain a healthy community; provide affordable educational and recreational activities and to be financially sustainable and offer value for money quality facilities. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake. - 1 - ## **WRIGHTS MEADOW CENTRE** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_ ## **Achievements and performance** Positives - The Golden jubilee celebration - Day trip to the seaside - Majorly successful beer/cider rock ‘n’ roll festival (4 amazing bands played and many new members joined as a result) - Halloween party - Children’s Christmas party - Christmas market coach trip - Christmas raffle (Thanks to everyone that donated and supported this event for the club) - New Year’s Eve party ## Negatives - Death of the late HM Queen Elizabeth II (8[th] September 2022). - Cancellation of days racing as result of the above (as a positive for the year to come the coach company and Sandown racecourse agreed to rearrange for September 2023). - Soft drinks pump behind the bar, this item has sat on our minutes for 10 months now, we are still unable to get a soft drinks/brewer to install for us. ## Actions - Uniform (All staff/volunteers issued with WMC logoed shirts) - League approved darting set up - Pop up bar sourced for party function’s - Table football - New smoking shelter purchased and soon to be erected to meet WDC smoking guide line’s ## Staff - We have had temporary staff join and leave over the year working alongside our permanent staff lead by centre manager Paula, I would like to thank them for all their hard work over the year. ## Volunteers ## Just to mention a few - June and her team for their amazing works on Saturdays (breakfast club) - Jan and her team for creating a little piece of magic every Tuesday at lunch - The Rocks of the WMC Without volunteers giving their time up for free the WMC wouldn’t be able to function in the way it’s does. You are all amazing people and truly WMC is a amazing place because of all your efforts. ## Chairman I would like to say a big thank you to everyone involved with WMC and thank everyone for guiding me in my duties as your club chairman throughout the year. ## S Hymers ## Chairman ## **Financial review** The unrestricted funds are available to be spent on any of the purposes of the charity including repairs and improvements to the premises. Unrestricted funds at the year end are £154,349 (2021: £162,077). The charity has one restricted fund. This fund is the property (the community centre) in Wycombe Marsh and the assets held by the centre. Restricted funds at the year end are £475,867 (2021: £483,601). - 2 - ## **WRIGHTS MEADOW CENTRE** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_ ## **Structure, governance and management** Wrights Meadow Centre (WMC) is controlled by its governing document and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The charitable company is governed under Memorandum and Articles of Association incorporated on 21 September 2012, as amended by special resolution on 30 April 2013. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mr. P J Cartwright Mrs. K Farmer (Resigned 30 March 2022) Mr. R Farmer Mr. G Harmsworth Mr. T Snaith Ms J Moxon (Appointed 30 March 2022) The minimum number of trustees is two, there is not a maximum number. The first trustees are the people notified to Companies House and the Charity Commission on incorporation. The charity may appoint a person who is willing to act as a trustee by ordinary resolution and determine the rotation in which any additional trustees are to retire. The trustees' report was approved by the Board of Trustees. **Mr. G Harmsworth** Trustee Dated: 24 May 2023 - 3 - ## **WRIGHTS MEADOW CENTRE** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF WRIGHTS MEADOW CENTRE** I report to the trustees on my examination of the financial statements of Wrights Meadow Centre (the charitable company) for the year ended 30 September 2022. ## **Responsibilities and basis of report** As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charitable 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 the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect: - 1 accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements 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 - 4 the financial statements 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 financial statements to be reached. Mr C J Nisbet FCA Institute of Chartered Accountants in England & Wales Azets Audit Services Suites B & D Burnham Yard Beaconsfield Bucks HP9 2JH United Kingdom Dated: 6 June 2023 - 4 - ## **WRIGHTS MEADOW CENTRE** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
3,428
8,500
Charitable activities
**3**
65,149
-
Investments
**4**
24
-
**Total income**
68,601
8,500
**Expenditure on:**
Charitable activities
**5**
79,511
16,868
**Net outgoing resources**
**before transfers**
(10,910)
(8,368)
Gross transfers between
funds
(306)
306
**Net expenditure for the year/**
**Net movement in funds**
(11,216)
(8,062)
Fund balances at 1 October
2021
162,077
483,601
**Fund balances at 30**
**September 2022**
150,861
475,539|**Total Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
11,928
19,877
-
65,149
27,022
-
24
24
-
77,101
46,923
-
96,379
56,268
14,668
(19,278)
(9,345)
(14,668)
-
-
-
(19,278)
(9,345)
(14,668)
645,678
171,422
498,269
626,400
162,077
483,601|**Total**
**2021**
**£**
19,877
27,022
24
46,923
70,936
(24,013)
-
(24,013)
669,691
645,678| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 5 - ## **WRIGHTS MEADOW CENTRE** ## **BALANCE SHEET** ## _**AS AT 30 SEPTEMBER 2022**_ |**Notes**
**Fixed assets**
Tangible assets
**9**
Investments
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**12**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**13**
Unrestricted funds|**2022**
**£**
26,888
122,184
149,072
(8,647)|**£**
485,974
1
485,975
140,425
626,400
475,539
150,861
626,400|**2021**
**£**
18,347
138,984
157,331
(7,013)|**£**
495,359
1| |---|---|---|---|---| |||||495,360
150,318| |||||645,678| |||||483,601
162,077| |||||645,678| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2022. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 24 May 2023 Mr. G Harmsworth **Trustee** ## **Company registration number 08224725** - 6 - ## **WRIGHTS MEADOW CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_ ## **1 Accounting policies** ## **Charity information** Wrights Meadow Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is Wright Meadow Road, Wycombe Marsh, HP11 1SQ, England. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Companies Act 2006 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 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102. The charitable company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. In making this assessment, the trustees have considered the impacts and expected future impacts of the Covid-19 pandemic on both the charity and the environment in which it operates. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.4 Income** Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. ## **1.5 Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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. - 7 - ## **WRIGHTS MEADOW CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_ ## **1 Accounting policies** ## **(Continued)** ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings Fixtures and fittings Computers Straight line over 50 years Straight line over 3 - 5 years Straight line over 5 years ## **1.7 Taxation** The charity is exempt from corporation tax on its charitable activities. ## **1.8 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **1.9 Taxation** The charity is exempt from corporation tax on its charitable activities. ## **1.10 Government grants** Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. ## **2 Donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
Donations and gifts
649
-
Grants receivable
2,767
8,500
Membership fees
12
-
3,428
8,500|**Total**
Unrestricted
funds
**2022**
2021
**£**
£
649
763
11,267
19,099
12
15
11,928
19,877|**Total**
Unrestricted
funds
**2022**
2021
**£**
£
649
763
11,267
19,099
12
15
11,928
19,877| |---|---|---| |||19,877| - 8 - ## **WRIGHTS MEADOW CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_ |**2**
**Donations and legacies**
**Grants receivable**
Buckinghamshire Council - Covid Grant
Buckinghamshire Council - Other Grant
MMBL Grant
Other|-
2,667
-
100
2,767|-
-
8,500
-
8,500|**(Continued)**
-
15,669
2,667
3,430
8,500
-
100
-
11,267
19,099|**(Continued)**
-
15,669
2,667
3,430
8,500
-
100
-
11,267
19,099| |---|---|---|---|---| |||||19,099| In the year the charity received a Small Business grant totalling £2,667 (2021: £19,099) from Buckinghamshire Council related to Covid 19 and other areas ## **3 Charitable activities** ||**Hire of the**|Hire of the Centre| |---|---|---| ||**Centre**|| ||**2022**|2021| ||**£**|£| |Amounts received|65,149|27,022| ## **4 Investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Interest receivable|24|24| - 9 - ## **WRIGHTS MEADOW CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_ ## **5 Charitable activities** |Staff costs
Depreciation
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Licences
Repairs and maintenance
Event costs
Share of governance costs (see note 6)
**Analysis by fund**
Unrestricted funds
Restricted funds
**For the year ended 30 September 2021**
Unrestricted funds
Restricted funds|**Centre**
**2022**
**£**
26,690
20,887
899
2,631
6,971
1,294
501
5,357
201
22,806
-
88,237
1,490
89,727
72,859
16,868
89,727
55,124
14,668
69,792|**Events**
**2022**
**£**
-
-
-
-
-
-
-
-
-
-
6,652
6,652
-
6,652
6,652
-
6,652
1,144
-
1,144|**Total**
**2022**
**£**
26,690
20,887
899
2,631
6,971
1,294
501
5,357
201
22,806
6,652
94,889
1,490
96,379
79,511
16,868
96,379|**Total**
**2021**
**£**
15,127
18,587
853
2,291
4,337
1,779
492
3,770
299
21,147
1,144| |---|---|---|---|---| |||||69,826
1,110| |||||70,936| |||||56,268
14,668| |||||70,936| |||||56,268
14,668| |||||70,936| ## **6 Support costs** |**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Independent examiners fee
-
1,490
-
1,490
Analysed between
Charitable activities
-
1,490|**2022**
**£**
1,490
1,490
1,490|2021
£
1,110| |---|---|---| |||1,110| |||1,110| - 10 - ## **WRIGHTS MEADOW CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_ ## **7 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year. ## **8 Employees** The average monthly number of employees during the year was: |Total staff
**Employment costs**
Wages and salaries
Other pension costs|**2022**
**Number**
3
**2022**
**£**
25,678
1,012
26,690|**2021**
**Number**
1| |---|---|---| |||**2021**
**£**
14,525
602| |||15,127| Wrights Meadow Centre employ a centre steward who also performs administration and bar duties for Wrights Meadow Social Limited. During the year ended 30 September 2021 £12,381 (2021: £7,262) of wages were recharged to Wrights Meadow Social Limited. There were no employees whose annual remuneration was £60,000 or more. ## **9 Tangible fixed assets** |**Freehold land**
**and buildings**
**Fixtures and**
**fittings**
**Computers**
**£**
**£**
**£**
**Cost**
At 1 October 2021
553,660
57,328
2,172
Additions
-
11,502
-
At 30 September 2022
553,660
68,830
2,172
**Depreciation and impairment**
At 1 October 2021
77,512
39,173
1,116
Depreciation charged in the year
11,073
9,380
434
At 30 September 2022
88,585
48,553
1,550
**Carrying amount**
At 30 September 2022
465,075
20,277
622
At 30 September 2021
476,148
18,155
1,056|**Total**
**£**
613,160
11,502| |---|---| ||624,662| ||117,801
20,887| ||138,688| ||485,974| ||495,359| - 11 - ## **WRIGHTS MEADOW CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_ ## **10 Fixed asset investments** ||**Investment in**| |---|---| ||**Subsidiaries**| ||**£**| |**Cost or valuation**|| |At 1 October 2021 & 30 September 2022|1| |**Carrying amount**|| |At 30 September 2022|1| |At 30 September 2021|1| Wrights Meadow Social Limited (company registration number: 10065640) is a 100% owned subsidiary of Wrights Meadow Centre. Its profits are to be distributed to the charity. At the year ended 30 September 2022, its turnover and other income was £68,908 (2021: £16,058), expenditure £59,019(2021: £20,167) and profits for the year were £9,889 (2021: losses £4,109). ## **11 Debtors** |**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**2022**
**£**
1,553
22,291
3,044
26,888|**2021**
**£**
3,252
12,731
2,364| |---|---|---| |||18,347| ## **12 Creditors: amounts falling due within one year** |**Creditors: amounts falling due within one year**||| |---|---|---| |Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2022**
**£**
1,259
2,084
272
5,032
8,647|**2021**
**£**
-
1,595
120
5,298| |||7,013| - 12 - ## **WRIGHTS MEADOW CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_ ## **13 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: ||||||**Movement in funds**|**Movement in funds**||| |---|---|---|---|---|---|---|---|---| ||**Balance at**|**Resources**||**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**| ||**1 October 2020**|**expended**|**1**|**October 2021**|**resources**|**expended**||**30 September**| |||||||||**2022**| ||**£**|**£**||**£**|**£**|**£**|**£**|**£**| |Construction||||||||| |& Admin of||||||||| |Centre|498,269|(14,668)||483,601|8,500|(16,868)|306|475,539| The restricted fund is the building held by the centre. It also includes the original assets purchased to get the centre operational. In the current year, grants totalling £8,500 were received to be used towards a new entertainment and sound system at the Centre. ## **14 Analysis of net assets between funds** |**Unrestricted**
**funds**
**Restricted**
**funds**
**2022**
**2022**
**£**
**£**
Fund balances at 30
September 2022 are
represented by:
Tangible assets
10,376
475,598
Investments
1
-
Current assets/(liabilities)
140,156
269
150,533
475,867|**Total**
Unrestricted
funds
Restricted
funds
**2022**
2021
2021
**£**
£
£
485,974
11,758
483,601
1
1
-
140,425
150,318
-
626,400
162,077
483,601|Total
2021
£
495,359
1
150,318| |---|---|---| |||645,678| ## **15 Operating lease commitments** At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: |Equipment
Within one year
Between two and five years|**2022**
**£**
3,436
2,314
5,750|**2021**
**£**
3,436
5,750| |---|---|---| |||9,186| - 13 - ## **WRIGHTS MEADOW CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2022**_ ## **16 Related party transactions** ## **Transactions with related parties** During the year the charitable company entered into the following transactions with related parties: The following amounts were outstanding at the reporting end date: ||**Amounts owed to**|**related**| |---|---|---| ||**parties**|| ||**2022**|**2021**| ||**£**|**£**| |Wrights Meadow Social Ltd|16,494|4,335| During the year ended 30 September 2022, the charity received £2,400 (2021: £2,400) from its subsidiary company Wrights Meadow Social Limited in respect of a sink fund. - 14 -