2021-04-30-accounts - Kingdon House Community Association

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Kingdon House Community Association

Charity No. 1152091

Company No. 08490544

Trustees' Report and Unaudited Accounts

30 April 2021

Kingdon House Community Association Contents

	Pages
Trustees' Annual Report	2 to 3
Statement of Financial Activities		4
Summary Income and Expenditure Account		5
Balance Sheet		6
Statement of Cash flows		7
Notes to the Accounts	8 to	15
Detailed Statement of Financial Activities	16 to	17

Page 1

Kingdon House Community Association Trustees Annual Report

Kingdon House Community Association

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 April 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 08490544

Charity No. 1152091

Principal Office

Kingdon House Pym Street Tavistock PL19 0AW

Registered Office

Kingdon House Pym Street Tavistock PL19 0AW

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

R.L. Farrant B.A. Fyfield-Shayler J. Houghton A. Johnson P.A.D. Jones M.W. Taylor K. Woodward

Accountants

Dennathorne Accountancy Services Dennathorne Down Road Tavistock PL19 9AG

OBJECTIVES AND ACTIVITIES

The purpose of the charity as set out in its governing document is to promote the benefit of the inhabitants of Tavistock and district without any distinction of sex or political, religious or other opinions by associating with the local authorities, voluntary organisations and inhabitants in a common effort to advance education and to provide facilities in the interest of social welfare, for recreation and leisure time for the said inhabitants.

Page 2

Kingdon House Community Association Trustees Annual Report

The main activities undertaken in relation to those purposes are the establishment of the Community Centre and maintenance and management of the same.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

P.A.D. Jones

Trustee 21 October 2021

Page 3

Kingdon House Community Association Statement of Financial Activities

for the year ended 30 April 2021

Unrestricted funds 2021 £ 213 24,779 107	Total funds 2021 £ 213 24,779 107	Total funds 2020 £ 4,887 74,460 156
25,099 36,597 12,397	25,099 36,597 12,397	79,503 34,441 16,573
48,994 -	48,994 -	51,014 -
(23,895) -	(23,895) -	28,489 -
(23,895)	(23,895)	28,489
(23,895) 93,236	(23,895) 93,236	28,489 64,747
69,341	69,341	93,236

Page 4

Kingdon House Community Association Summary Income and Expenditure Account

for the year ended 30 April 2021

Income Interest and investment income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net (expenditure)/income before tax for the year Net (expenditure )/income for the year	2021 £ 24,992 107 25,099 48,736 258 48,994 (23,895) (23,895)	2020 £ 79,347 156
		79,503
		50,670 344
		51,014
		28,489
		28,489

Page 5

Kingdon House Community Association Balance Sheet

at 30 April 2021

Company No. 08490544 Notes 2021 £ Fixed assets Tangible assets 11 44,762 44,762 Current assets Debtors 12 283 Cash at bank and in hand 25,046 25,329 Creditors:Amount falling due within one year 13 (750) Net current assets 24,579 Total assets less current liabilities 69,341 Net assets excluding pension asset or liability 69,341 Total net assets 69,341 The funds of the charity Restricted funds 14 Unrestricted funds 14 General funds 69,341 69,341 Reserves 14 Total funds 69,341	2020 £ 45,020
	45,020 541 48,426
	48,967 (751)
	48,216 93,236
	93,236
	93,236
	93,236
	93,236
	93,236

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 30 April 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

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 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 21 October 2021

And signed on its behalf by:

J. Houghton Trustee

21 October 2021

Page 6

Kingdon House Community Association Statement of Cash flows for the year ended 30 April 2021

Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Decrease/(Increase) in trade and other receivables (Decrease)/Increase in trade and other payables Net cash (used in)/provided by operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from/(used in) investing activities Net cash from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances	2021 £ (23,895) 258 (107) 258 (1) (23,487) 107 107 - (23,380) 48,426 25,046 25,046 25,046	2020 £ 28,489 344 (156) (541) 751
		28,887 156
		(764)

		-

		28,123
		20,303
		48,426

		48,426

		48,426

Page 7

Kingdon House Community Association Notes to the Accounts

for the year ended 30 April 2021

1 Accounting policies

Basis of preparation

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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 8

Kingdon House Community Association Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.

Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Fixtures, fittings and 25%% reducing balance equipment

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 9

Kingdon House Community Association Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 10

Kingdon House Community Association Notes to the Accounts

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Statement of Financial Activities - prior year

3 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Charitable activities Investments Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies Donations and fundraising West Devon CVS	Unrestricted £ 213 - 213	Unrestricted funds 2020 £ 4,887 74,460 156 79,503 34,441 16,573 51,014 28,489 28,489 28,489 64,747 93,236 Total 2021 £ 213 - 213	Total funds 2020 £ 4,887 74,460 156
			79,503 34,441 16,573
			51,014
			28,489
			28,489
			28,489 64,747
			93,236
			Total 2020 £ 3,983 904
			4,887

Page 11

Kingdon House Community Association Notes to the Accounts

5 Income from charitable activities

Community room hire Grant for building works Covid-19 grant CJRS grants received 6 Income from investments Deposit account interest 7 Expenditure on charitable activities Expenditure on charitable activities Community room hire Grant for building works Governance costs 8 Other expenditure Publicity Website development Employee costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs	Unrestricted £ 6,309 - 12,003 6,467 24,779 Unrestricted £ 107 107 Unrestricted £ 12,162 24,435 36,597 Unrestricted £ 16 126 9,937 258 1,310 750 12,397	Total 2021 £ 6,309 - 12,003 6,467 24,779 Total 2021 £ 107 107 Total 2021 £ 12,162 24,435 36,597 Total 2021 £ 16 126 9,937 258 1,310 750 12,397	Total 2020 £ 21,621 42,839 10,000 -
			74,460
			Total 2020 £ 156
			156
			Total 2020 £ 13,159 21,282
			34,441
			Total 2020 £ 503 1,872 10,021 344 2,920 913
			16,573

Page 12

Kingdon House Community Association Notes to the Accounts

9 Net (expenditure)/income before transfers

This is stated after charging: Depreciation of owned fixed assets 10 Staff costs Salaries and wages No employee received emoluments in excess of £60,000. 11 Tangible fixed assets Cost or revaluation At 1 May 2020 At 30 April 2021 Depreciation and impairment At 1 May 2020 Depreciation charge for the year At 30 April 2021 Net book values At 30 April 2021 At 30 April 2020 12 Debtors Trade debtors 13 Creditors: amounts falling due within one year Accruals and deferred income	2021 £ 258 9,937 9,937 Land and buildings £ 43,987 43,987 - - - 43,987 43,987 2021 £ 283 283 2021 £ 750 750	Fixtures, fittings and equipment £ 1,377 1,377 344 258 602 775 1,033	2020 £ 344 10,021
			10,021
			Total £ 45,364
			45,364
			344 258
			602
			44,762
			45,020
			2020 £ 541
			541
			2020 £ 751
			751

Page 13

Kingdon House Community Association Notes to the Accounts

14 Movement in funds

Incoming resources (including other gains/losses ) £ 25,099 25,099 At 1 May 2020 £	Resources expended £ (48,994) (48,994) Unrestricted funds £ 44,762 24,579 69,341 Cash flows £	At 30 April 2021 £ 69,341
		69,341
		Total £ 44,762 24,579
		69,341
		At 30 April 2021 £
48,426	(23,380)	25,046
48,426 48,426	(23,380) (23,380)	25,046
		25,046

17 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 14

Kingdon House Community Association Detailed Statement of Financial Activities

for the year ended 30 April 2021

Income and endowments from: Donations and legacies Donations and fundraising West Devon CVS Charitable activities Community room hire Grant for building works Covid-19 grant CJRS grants received Investments Deposit account interest Total income and endowments Expenditure on: Charitable activities Community room hire Grant for building works Total of expenditure on charitable activities Other expenditure Publicity Website development Employee costs Salaries/wages General administrative costs, including depreciation and amortisation Depreciation of Fixtures, fittings and equipment Postage and couriers Software, IT support and related costs Stationery and printing Subscriptions	Unrestricted funds 2021 £ 213 - 213 6,309 - 12,003 6,467 24,779 107 107 25,099 12,162 24,435 36,597 36,597 16 126 142 9,937 9,937 258 26 34 38 80	Total funds 2021 £ 213 - 213 6,309 - 12,003 6,467 24,779 107 107 25,099 12,162 24,435 36,597 36,597 16 126 142 9,937 9,937 258 26 34 38 80	Total funds 2020 £ 3,983 904
			4,887
			21,621 42,839 10,000 -
			74,460
			156
			156
			79,503 13,159 21,282
			34,441
			34,441 503 1,872
			2,375
			10,021
			10,021
			344 49 615 119 80

Page 15

Kingdon House Community Association Detailed Statement of Financial Activities

Sundry expenses Telephone, fax and broadband Legal and professional costs Audit/Independent examination fees Accountancy and bookkeeping Consultancy fees Solicitor's fees Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	351 781 1,568 750 - - - - 750 12,397 48,994 - (23,895) (23,895) - (23,895) 93,236 69,341	351 781 1,568 750 - - - - 750 12,397 48,994 - (23,895) (23,895) - (23,895) 93,236 69,341	578 1,479
			3,264
			750 100 40 10 13
			913

			16,573
			51,014 -
			28,489
			28,489 -
			28,489
			64,747
			93,236

Page 16