Worlingham Community Facility (A Charitable Incorporated Organisation) Charity number 1152774
Report and Financial Statements For the Year Ended 5 April 2021
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Worlingham Community Facility (A Charitable Incorporated Organisation) Financial Statements For the Year Ended 5 April 2021
Contents Page
Legal and Administrative Information
Report of the Management Committee
Statement of Financial Activities
Balance Sheet
Notes forming part of the financial statements
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Worlingham Community Facility Report of the Trustees for the year ended 5 April 2021
The Trustees present their directors’ report and audited financial statements for the year ended 5 April 2021.
Reference and Administrative Information
Charity Name: Worlingham Community Facility
Charity number: 1152774
CIO - Association Registered 09 Jul 2013
Contact: Mrs Wendy Summerfield 7 Paddocks Green Worlingham Beccles Suffolk NR34 7RW
Trustees
Mr Adrian Crockett Chair Mrs Wendy Summerfield Secretary Dr Paul Gurbutt Treasurer Mrs Alison Culyer Mr David Bland Mr Norman Brooks Mr David Howson Mr Eddie Hubbard Mr Stephen Larkin Mr Jonathan Smith Mrs Sheila Smith
Auditor – Mr Christopher Punt,
Bankers – Barclays Bank plc, 19 New Market, Beccles, Suffolk NR33 9 Solicitors - Birketts LLP, 24-26 Museum Street, Ipswich, IP1 1HZ
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Our Aims and objectives
Purposes and Aims
The object of the Worlingham Community Facility (WCF) is to provide community facilities in the interests of social welfare for recreation and leisure time occupation with the purpose of improving the conditions of life of the inhabitants of Worlingham and the neighbourhood hereinafter called "the area of benefit"
How our activities deliver public benefit
When compiling the Parish Plan in 2008, everyone in the village was issued with a questionnaire. The response was outstanding with over 60% of the residents, almost 2000 people, completing the form. Of these over 80% said that the most important thing missing from Worlingham was a community space.
All our charitable activities focus on the creation of a community facility for the use of the inhabitants of Worlingham, and surrounding area, on the site of the former Worlingham Church of England Voluntary Controlled Primary School, in Rectory Lane, Worlingham.
The site belonged to Suffolk County Council and the Diocese of St Edmundsbury and Ipswich of the Church of England. The whole site now belongs to Suffolk County Council as the Diocese has made a land swap for an interest in the new site of the Worlingham Church of England Voluntary Controlled Primary School.
The Secretary of State for Education had granted Suffolk County Council approval for land occupied by the school buildings to be released for community use. Suffolk County Council worked hard to resolve issues around the release of land around the school for community use. The whole site is now available for community use. Suffolk County Council has since demolished the school in preparation for the transfer of the site to Worlingham Community Facility.
The death of Stephen George, the director of Badger Builders who was dealing with this project, and the disruption caused by the Covid-19 pandemic has delayed the project.
Badger Builders are preparing to submit the planning application once the contracts between the three parties are signed.
.
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Financial Review
Responsibilities of the Trustees
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the management committee should follow best practice and:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is not appropriate to assume that the CIO will continue on that basis.
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985. The Trustees are also responsible for safeguarding the assets of the charitable incorporated organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In accordance with company law, the Trustees acting as the company’s directors, we certify that:
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so far as we are aware, there is no relevant audit information of which the company’s auditors are unaware; and
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as the directors of the company we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.
Auditors
Mr Christopher Punt was appointed as the charitable incorporated organisation’s examiner during the year and he has expressed his willingness to continue in that capacity.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (issued in March 2005) and in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small entities.
Approved by the Trustees on 13 May 2021 and signed on their behalf by:
Mrs Wendy Summerfield (Secretary)
Mr Adrian Crockett (Chairman)
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| Worlingham Community Facility | Worlingham Community Facility | |
|---|---|---|
| Statement of Financial Activities for the year ended 5 April 2021 | ||
| 2020-2021 | 2019-2020 | |
| Income from resources | ||
| Donations and grants £ 4,824 |
£ - |
|
| Loan £ - |
£ - |
|
| Investment income £ 0 |
£ 0 |
|
| Total income from resources |
£ 4,824 | £ 0 |
| Resources expended | ||
| Governance costs £ 260 |
£ 260 |
|
| Loan repayment £ - |
£ - |
|
| Bank charges £ - |
£ - |
|
| Legal costs £ 4,824 |
£ - |
|
| Design and planning cos£ - |
£ - |
|
| Project Management cos£ - |
£ - |
|
| Publicity £ - |
£ - |
|
| £ 5,085 | £ 260 |
|
| Net income for the year | -£ 260 |
-£ 260 |
These accounts are prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small entities.
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Notes forming part of the Financial Statements for the year ended 5 April 2021
1. Accounting Policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
(a) Basis of accounting
The financial statements have been prepared under the historical cost convention, as modified by the inclusion of fixed asset investments at market value, and in accordance with the Companies Act 1985 and the Statement of Recommended Practice: Accounting and Reporting by Charities issued in March 2005.
(b) Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to, and virtually certain to receive, the income and the amount can be quantified with reasonable accuracy. The following policies are applied to particular categories of income:
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Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
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Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
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Investment income is included when receivable.
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Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
(c) Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
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Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
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A suitable website provider is still being sought.
(d) Fixed assets
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £1,000 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, which in all cases is estimated at 4 years. Impairment reviews are carried out as and when evidence comes to light that that the recoverable amount of a functional fixed asset is below its net book value due to damage, obsolescence or other relevant factors. Investments held as fixed assets are revalued at mid-market value at the balance sheet date and the gain or loss taken to the Statement of Financial Activities.
2. Trustee Remuneration & Related Party Transactions
No Trustee received any remuneration during the year.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2020-2021).
3. Grants and Donations
Part of the Community Infrastructure Levy grant for professional services was used for legal fees.
4. Investment income
Some funds are held in an interest bearing account.
5. Governance costs
The Trustees have taken out trustee liability insurance.
6. Creditors
WCF is liable for legal costs incurred so far, but these have not invoiced yet.
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7. Working Capital Asset Statement
One of the recommendations from the Audit of 2017-2019 was to produce a Working Capital Asset Statement. As there are no capital assets at present no statement has been produced.
| Worlingham Community Facility | Worlingham Community Facility | Worlingham Community Facility | |||
|---|---|---|---|---|---|
| Balance Sheet 2020-2021 | |||||
| 2020-2021 | 2019-2020 | ||||
| Fixed Assets | |||||
| Ta ngi b l e f i x e d | £ - |
£ - |
|||
| Investments | £ - |
£ - |
|||
| £ - |
£ - |
||||
| Current Assets | |||||
| Cash at bank | £ 5,912 | £ 6,172 | |||
| Creditors | |||||
| £ 5,912 | £ 6,172 | ||||
| Net Assets | £ 5,912 | £ 6,172 | |||
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