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← Wrights Meadow Centre

2023-09-30-accounts

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 2023

WRIGHTS MEADOW CENTRE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr. P J Cartwright Mr. R Farmer Mr. G Harmsworth Mr. T Snaith Mrs R Brown

(Appointed 29 March 2023)

Committee Officers Mr F Edwards President Mr J Snook Chairman Mr D Laker Vice Chairman Mrs A Bowles Secretary Mr G Harmsworth Treasurer General Committee Mrs T Heawood Mrs S Lawless Mr M Lawless Mr D Billing Mrs J Card 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 c/o Azets Burnham Yard London End 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 2023

The trustees present their report and financial statements for the year ended 30 September 2023.

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.

WRIGHTS MEADOW CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Achievements and performance

This is probably our first full year of trading since the dreaded Covid-19 epidemic. And what a year it has been!!!

A big, big thank you to our Centre Manager (Paula), the committee, the volunteers and any other helpers who have given time this year in helping to keep the centre open seven days a week.

We have our regular hirers, namely Anna Rose Dance, Calm Little Minds, 4 Fun Group, Monkey Muisc, Gateway, Slimming World and the NHS.

With Anna Rose Dance, the hall is hired from Wednesday throught to Sunday to encourage children of all ages and abilities to dance. It also encourages pearents to come in and have a coffee, perhaps a beer or even food on specified days.

Thank you to the kitchen staff who provide breakfast and lunch on a Tuesday, a meal mostly for the dance school on a Thursday and breakfast on a Saturday morning.

We have kept a similar format as in previous years in running a Halloween and Christmas parties for the children, over 60s Christmas lunch, Christmas Raffle and New Years Eve Disco.

We have tried Karaoke and open mike evenings, where you can come along and have a sing should you like to. This has proved to be very popular.

We also had a very successful trip to the Christmas Market at Stratford Upon Avon.

This was also the year of the Coronation of King Charles III and a great time was had by all; watching events unfold on our large television and enjoying an afternoon tea,

We have teams in each of the local Bar Billiards and Dominoes leagues . This generates finance as there is a home match every week.

We also have a Sunday football team which comes here each Sunday following their matches.

We have a crafty coffee group which meets on the first, third and sometimes the fifth Wednesday of each month. They make objects which are sold to fund the group. They alo make all of the props for our events.

We also charge the residents of Wye Dene who park their vans overnight as they are not allowed to park on the estate.

Income is also generated from the Clothes bin situated in the car park and the Dome jointly operated with the 4Fun Group.

Finally, I would like to thank each and everyone one of you who come in and use the centre, because, without your continued support we could not continue opening the doors.

On behalf on the Trustees Gerald Harmsworth

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 £149,655 (2022: £151,095).

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 £459,778 (2022: £475,539).

WRIGHTS MEADOW CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

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 Mr. R Farmer Mr. G Harmsworth Mr. T Snaith Mrs R Brown (Appointed 29 March 2023)

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: 27 March 2024

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 2023.

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:

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

c/o Azets Burnham Yard London End Beaconsfield Bucks HP9 2JH United Kingdom

Dated: 30 April 2024

WRIGHTS MEADOW CENTRE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and
legacies
2
6,365
-
Charitable activities
3
93,119
-
Investments
4
404
-
Total income
99,888
-
Expenditure on:
Charitable activities
5
101,328
15,761
Gross transfers
between funds
-
-
Net expenditure for the
year/
Net movement in funds
(1,440)
(15,761)
Fund balances at 1 October
2022
151,095
475,539
Fund balances at 30
September 2023
149,655
459,778		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
6,365
3,428
8,500
93,119
65,149
-
404
24
-
99,888
68,601
8,500
117,089
79,277
16,868
-
(306)
306
(17,201)
(10,982)
(8,062)
626,634
162,077
483,601
609,433
151,095
475,539		 Total
2022
£
11,928
65,149
24
77,101
96,145
-
(19,044)
645,678
626,634

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.

WRIGHTS MEADOW CENTRE

BALANCE SHEET

AS AT 30 SEPTEMBER 2023

Notes
Fixed assets
Tangible assets
10
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
14
Unrestricted funds		 2023
£
33,148
121,351
154,499
(11,899)		 £
466,832
1
466,833
142,600
609,433
459,778
149,655
609,433		 2022
£
27,122
122,184
149,306
(8,647)		 £
485,974
1
485,975
140,659
626,634
475,539
151,095
626,634

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 2023.

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 March 2024

Mr. G Harmsworth

Trustee

Company registration number 08224725

WRIGHTS MEADOW CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

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.

WRIGHTS MEADOW CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

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 Straight line over 50 years Fixtures and fittings Straight line over 3 - 5 years Computers 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.

WRIGHTS MEADOW CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

2 Donations and legacies

Unrestricted
Unrestricted
Restricted
funds
funds
funds
2023
2022
2022
£
£
£
Donations and gifts
6,283
649
-
Grants receivable
-
2,767
8,500
Membership fees
82
12
-
6,365
3,428
8,500
Unrestricted
Unrestricted
Restricted
funds
funds
funds
2023
2022
2022
£
£
£
Grants receivable
Buckinghamshire Council - Other Grant
-
2,667
-
MMBL Grant
-
-
8,500
Other
-
100
-
-
2,767
8,500		 Total
2022
£
649
11,267
12
11,928
Total
2022
£
2,667
8,500
100
11,267

In the year the charity received a Small Business grant totalling £nil (2022: £2,667) from Buckinghamshire Council related to Covid 19 and other areas.

3 Charitable activities

Hire of the Hire of the Centre
Centre
2023 2022
£ £
Amounts received 93,119 65,149

WRIGHTS MEADOW CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

4 Investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 404 24

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 2022
Unrestricted funds
Restricted funds		 Centre
2023
£
37,017
20,626
323
3,502
4,264
1,244
912
6,503
42
30,814
-
105,247
2,788
108,035
92,274
15,761
108,035
72,625
16,868
89,493		 Events
2023
£
-
-
-
-
-
-
-
-
-
-
9,054
9,054
-
9,054
9,054
-
9,054
6,652
-
6,652		 Total
2023
£
37,017
20,626
323
3,502
4,264
1,244
912
6,503
42
30,814
9,054
114,301
2,788
117,089
101,328
15,761
117,089		 Total
2022
£
26,690
20,887
899
2,397
6,971
1,294
501
5,357
201
22,806
6,652
94,655
1,490
96,145
79,277
16,868
96,145
79,277
16,868
96,145

WRIGHTS MEADOW CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

6 Support costs

Support
costs
Governance
costs
£
£
Independent examiners fee
-
2,788
-
2,788
Analysed between
Charitable activities
-
2,788		 2023
£
2,788
2,788
2,788		 2022
£
1,490
1,490
1,490

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:

2023 2022
Number Number
Total staff 4 3
Employment costs 2023 2022
£ £
Wages and salaries 35,925 25,678
Other pension costs 1,092 1,012
37,017 26,690

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 2023 £8,250 (2022: £12,381) of wages were recharged to Wrights Meadow Social Limited.

There were no employees whose annual remuneration was £60,000 or more.

9 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 Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

WRIGHTS MEADOW CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

10 Tangible fixed assets

Freehold land
and buildings
Fixtures and
fittings
Computers
£
£
£
Cost
At 1 October 2022
553,660
68,830
2,172
Additions
-
-
1,485
At 30 September 2023
553,660
68,830
3,657
Depreciation and impairment
At 1 October 2022
88,586
48,553
1,550
Depreciation charged in the year
11,073
8,822
731
At 30 September 2023
99,659
57,375
2,281
Carrying amount
At 30 September 2023
454,001
11,455
1,376
At 30 September 2022
465,075
20,277
622		 Total
£
624,662
1,485
626,147
138,689
20,626
159,315
466,832
485,974

11 Fixed asset investments

Investment in
Subsidiaries
£
Cost or valuation
At 1 October 2022 & 30 September 2023 1
Carrying amount
At 30 September 2023 1
At 30 September 2022 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 2023, its turnover and other income was £61,036 (2022: £68,908), expenditure £60,325(2022: £59,019) and profit for the year was £711 (2022: £9,889).

WRIGHTS MEADOW CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

12 Debtors

Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
1,452
28,418
3,278
33,148		 2022
£
1,553
22,291
3,278
27,122

13 Creditors: amounts falling due within one year

Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2023
£
1,275
1,707
224
8,693
11,899		 2022
£
1,259
2,084
272
5,032
8,647

14 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 Incoming Resources Transfers Balance at Resources Balance at
1 October 2021 resources expended 1 October 2022 expended 30 September
2023
£ £ £ £ £ £ £
Construction
& Admin of
Centre 483,601 8,500 (16,868) 306 475,539 (15,761) 459,778

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 £nil (2023: £8,500) were received to be used towards a new entertainment and sound system at the Centre.

WRIGHTS MEADOW CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

15
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 30
September 2023 are
represented by:
Tangible assets
7,054
459,778
Investments
1
-
Current assets/(liabilities)
142,600
-
149,655
459,778		 Total Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
466,832
10,435
475,539
1
1
-
142,600
140,659
-
609,433
151,095
475,539		 Total
2022
£
485,974
1
140,659
626,634

16 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:

payments under non-cancellable operating leases, which fall due as follows:
Equipment
Within one year
Between two and five years		 2023
£
1,794
520
2,314		 2022
£
3,436
2,314
5,750

17 Related party transactions

During the year ended 30 September 2023, the charity received £2,400 (2022: £2,400) from its subsidiary company Wrights Meadow Social Limited in respect of a sink fund and £5,780 (2022: £nil) as a distribution.

The following amounts were outstanding at the reporting end date:

Amounts owed by related Amounts owed by related
parties parties
2023 2022
Balance Net Balance Net
£ £ £ £
Wrights Meadow Social Ltd 28,418 28,418 16,494 16,494
28,418 28,418 16,494 16,494