STANLEY GRANGE cofkqMUNITY ASSOCIATION CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charlty reglstration number 1157872
STANLEY GRANGE COMMUNITY ASSOCIATION CIO LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs K Riding Mrs J M Dagnall Mrs E Porter Mr J Leng MrA Duerden Mr D Bell MrRLee Mr M Kelghley Charlty number 1157872 Independent 8xamlner Champlon TLL Limlted 7-9 Station Road Heskelh Bank Preslon Lancashire PR4 6SN
STANLEY GRANGE COMMUNITY ASSOCIATION CIO CONTENTS Page Truste8s' reporl Independent examiner's r8POrt Slalement of financial activities Balance sheet Notes lo the financlal slalements 9-18
STANLEY GRANGE COMMUNITY ASSOCIATION CIO TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The truslees present thelr annual report and financial stalements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting pollcies sel out in note 1 to the financlal statements and comply wlh the chafily's CIO Constitution daled 16th July 2014, the Charilies Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practlce applicable to charities preparing thelr accounts In accordance with the Financial Reportlng Standard applicable in the UK and R8publlc of Ireland (FRS 102)" (effective l January 2019). Objectlves and actlvltles Publlc Beneflt statement Th8 Trustees have consld8red the Charity Commisslon guidance regarding Public Benefit and are satlsfled Ihat the aGtivities of the Charity, as deserlbed above, me8t the necessary criteria. All Stanley Grange actlvltles contribute to the achievement of our slralegic alms & objectives and are undertaken to further our charitable purposes for the publlc benefit. We review our aims, oblectives and activllles each year in the annual general me8tlng. Thls revlew looks at what we achleved and the outcomes of our work In the yevlous 12 months. The review looks at Ihe success of each key activity and Ihe benefits they have broughl lo the peopl8 we ar6 established to help. The review also h81ps us ensure our alm, objectives 8nd acllvltle5 remalned focused on our stated purposes. We have referred to the guidance contained In th8 Charlty Commlssion's general guldance on publlc benefit when reviewing our alm and objecllves and in plannlng our fvlure aclivltles. In particular. the trustees conslder how planned acllvilies will contribute to the alms and objectives they have 8et. About Stanley Grange Stanley Grange Is home to 43 adulls with learning disablllll8s arKI complex needs aged beeen 22 and 70 years old, At stanley Grange we take a unlque intentional approach to supporllng the need8 of adults wllh learnlng dlsabililies. We focus on a person-centred approach to ensure all residents ar8 actlvely psrllclpating In the local communlly, provldlng an example to others of how care models can be modernised, to achleve poslllve outcomes. Stanley Grange provides resldents wlth a range of housing cholces whlch Includes bungalows, houses, cottages and ftats. Opllons for Ilving include supported livlng and residential care. Som8 residents have Ilved at stanley Grange for over 40 years, 8ilher In shared accommodalions or In $Sngle-occupancy flats. Life at stanley Grange Is welcomlng, safe and fun. Resklents are surrounded by Iheir frlends and can pop Into each other's houses as and when they want. As well as being active members of the Stanley Grange communlty, residents also access local opportunities, visiting towns and vlllages nearby, particlpating In local clubs, and using amenities nearby. Chalr's Statemgnt l am Immensely proud to be the chair of Stanley Grange Community Association. Our misslon Is to be a home for Ilfe, including where possibl6 caring for people who have long lerm or life Itmiting illnesses. Our vlslon is to create a vlbrant and Ilfe-fulfilling communtiy for all re51dents.
STANLEY GRANGE COMMUNITY ASSOCIATION CIO TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Slgnlflcant Acllvltleg or We believe our Forum is unique nationally as a family & friends led group alongslde another unique organlsatlon, Stanley Grange Communily Association. There is a longslanding forum cullure and commltment, which recognises that whal we do Is for the benefit of all resld8nls at stanley Grange, whether their famlli8s ar8 able lo actively engage with the Forum or not. Thls year we have.. Held 4 me8tings, in person with 6 additional fundralslng related meetings conducted online, The Meetlngs have involved slgnlficant assoclated admin vrk, wilh reports, minul8s and notes dislrlbuled in a limely manner. Acted as the main channel for email communications to familie8 for Ix)th SGCA and our care provider, Future Dlreclions CIC, distributing information lo familles including activities and events updales and ensuiing families were kept up to date. There continues to be signsficanl Increases In the admin task of operatlng the forum. Supporting the Forum fundraisers in their activities Supporting SGCA'S public faclng communlcatlons on social media by actively followlng and sharlng Supportlng in any way possible the aclivilies at Stanley Grange, including communlcatlng wlth famllles, keeping in touch wlth community links and 8UPPOrting the Actlvllles Co-ordlnalor with introductions and provlslon of materials and equlpment. Followed up requests and concerns raised by famSly members In our meetlng8, initiating the 'A8k Llsten Do, campaign. Initlatlng an ongoing review of Forum activity and function, for its membershlp, wlth SGCA'S Prolecl & Op8rations Manag8r and Actlvllies Co.ordinalor, Trustee5'. In addlllon to the valuable work undertaken by the Family and Friend8 FoTum Ihe truste6s have been Involved in several projeGIs. Fundralslng and fund sourclng has continued throughout the year wilh a dedicaled fund sourclng sub-group. Including trustees, Davld Bell, Marie Wilson and Jenny Dagnall. Thls group has worked In Partnershlp with fundralslng professionals and through Ihelr hard work and dedication have raised £277,740.00. Most of this funding is restricted for OUF comprehensive refurbishment programme. however £45,IX)O.00 has b8en pledged to support the core running ¢08ls ol Stanley Grange. The refurblshment programme has been slow due reduced funding opportunltles. Throughout 2023124 we have successfully ralsed £130,000 towards compl81ing stage 8 of our 12-slage renovalion programma. Staff. resldents and families have been part of the refurbishment consultalion PTogress. Th58 process 18 ongolng. Personalisalion of rooms, communal areas and outdoor spaces have been undertaken. A complete refurblshment of Weavers coltage has been completed. This includ8s new acc8sslb18 bedrooms wllh ensuites for 6 resSdents and renovations made to staff sleeplng 8reas. Qur activities co-ordinator, Liam Pemberton. has been an important part of Stanley Grange life. Llam's role has been funded by the Natlonal Lollery from 2021 until 2026. In hls role, Llam has been able lo deliver a range of activilies either in peokles, living spaces, uslng our community hall and kitchen, in the grounds and gardens and importantly outside of Stanley Grange in other venue8, 8ttractlons and outdoors spaces. The activities he has delivered outside of Stanley Grange has been vital in building our conneGflons wllhln the local community. Over the past year, we have bulll a strong programme of core activities which have engaged a strong section of our residents on a regular and ongoing basis, they include, Karaoke. LK>wling, swimming, walklng. Music, cycling, crazy golf and crafts.
STANLEY GRANGE COMMUNITY ASSOCIATION CIO TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Prlorltles 2024J2025 With an ambitlous 12 slage refurbishment, modernisation and renewal programme, Stanley Gfange trusl8es arid volunteers are committed to raising the funds n8eded to upgrade accommodation, refurblsh bulldlngs and bring a vibrant 8nd engaglng activities programme to the Slanley Grange community. Over the next 12 months, we aim to complete stage 8 of Ihe renovatlon programme and start renovatlon plans to update our onsite Plant Centre. Phase 8 Involves the renovatlon of Fell View, Birch & Chestnut cottages. as currently all homes lack tha facilities, we expect modern accommodation to hav6. The properties in Iheir current stale would fail 10 meet the slandards of Ihe Care Quallty Commission (CQC) and the Housing Heallh and Safely Rating System requiremenls for landlords. The modernisatlon plans wlll bring the properties up to these standards. Renovations WIIS see us Increase the bedroom sizes and install en-sulte balh and shower loom facilitles. We wlll 81so be updatlng the windows and escap81safety doors. as well as upgrading the healing and 8leclrlcal systems. The plant centre renovations will see us upgrade the currently actlvlty facilities and add addlticnal workspace. The car park area will be renewed to make a more inviling and safer area for vlsilors to park. We wlll also revlew the seiCe level agreemenl we hold wllh our care provider, Fulur8 Dir8Ctlons and secure a hou8ing associatlon partner for the supported living residents. Achlevemenl8 and performance Flnanclal revlew Investment performance The TrLJslees are responslble for the Investment of any suiplus funds of the Charily. As such funds may be requlred for Immediate use, the Trustees conllnue to review various interest bearlng, Instanl access deposil accounts in whlch to place such monles. There were no excess funds for long term Investmenl at the year end. Res8Nès poIIcy The Trustees aim to maintain a level of reserves that would enable the charity to contlnue and be financially viable if income slreams were to dimlnish. The Trustees have esllmaled that 3 monlhs, worth of costs wlll b8 sufficlent as a short-term reserves largel. Includlng loan interest repayments Ihis equates to approximately £44,000. The five year goal is to Increase Ihls to slx month's worth of expendlture. The Charlty had general funds at the end of the year of £2,018,310 (funds lch are not reslrlcted or othemise deslgnated for specific purposes), However this balance is represented by net long-term assets (fixed assets18ss loans due after more than one year) and as such are not liquid funds. The unreslflcted bank balance al the year end was £155,556. £100,000 of this balance relates to Designated Funds, leaving ffee cash of £55,556. Thls amount Is equivalent to 4 months unr8Strict6d charilable expenses. The Trustees endeavour to Increase general funds over the coming year from the recelpl of further grants and donations, as well as introducing S61f-generated income stream5.
STANLIY GRANGE COMMUNITY ASSOCIATION CIO TIqLISI'LLS' RIPOIIT IfONTINUED) FOR THE YEAR ENDED 31 MARLH 2024 Rlgk Min.i(ionieiil Slruttiir¢, 9aVOtiiaiieo milllDgQFllQI)I oo¥eiiii(i ¢k¥¢'uryieiil. Thilp.erf (Jl Iiiiil. cofi¥lliAfj$ 4111 ullltii.oipniiili>d rliiirily Thr) IriiljloJtt.'i ¥Vlio ¥tsry(l(I Imiril Ihfi yr.ii an¢J iw lodw d.iifj ol sityioturn ol Wiu (AncIal bi4iiienl% ief4 J M U41yn¢i Mjg M W o'r(Ji>lp F Portur Mi J Loiiii Mi A Ilutricleii Nlr D 8pll (RSnLI 2? Juno 2U241 Mi M Ki4iqlilny I IILb Tiv%lL•¢4 11)giillitri wilh tho Opoiolioni Nlwug¢r. Ai¢ ItssIL4V foi d#y10 day mi1riagomenl of Ilift CliaFIly. Np.w TiuslLbLbS Lan . Hppoinled by a 10sohJUoD ol ¥Mi%wng Trusleos Tiu5tetss itwy bo iemov¢d lof orJDd caus¢J ijnrfcir Iho loiiiis ol lilo IiicoTporalton dccumml. TrJiTiiniJ ld Irirfucll is provi¢ltd ¥¥ilIlYtsY exislry Tiu51oes fvtuiiilicts f.Ulls151 ol t. Itn.i1119 Jii¢J Itlf l)Iiiily nieiTrb81¥ Yhio htsvo paid annual m¥mboislity leLi or ri. Tliu Iiu51ees' rLiJuiI was appluv0 by thv Boaid ol TIu51ves. l( L.,l?.,J,L, Mi¥ K Flithtio Tiiislv Dale.
STANLEY GRANGE COMMUNITY ASSOCIATION CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STANLEY GRANGE COMMUNITY ASSOCIATION CIO I report to th8 Irustees on my examinalion of the financial slalement8 of Stanley Grange Community Associatlon cio (the charity) for the year ended 31 March 2024. Responslbllltles and basls of rèport As the Irustees of the charity you are resF)onsible for the preparation of th8 financial statemenls In accordance with Ihe requir8ments of the Charllies Acl 2011 (the 2011 Act). I report In respect of my examination of the charily's flnancial statements carried out under sectlon 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charlly Commisslon under section 145(5)(b) of the 2011 Act. Indopend8nt éxamlnerfs stat8m8nt Since the charily's gross income exceeded £250.000 your examlner must b8 a memb8r of a body listed in section 145 of th8 2011 Act. I confÈrm that l am qualified to undertake the examination because l am a member of Ihe Association of Chartered Certified Accountants, whlch is one of the lisled bodles. Your atlenllon Is drawn to the fact Ihat the charlly has prepared financial statements in accordarce wlth Accountlng and Reporting by Charitles preparlng thelr accounts In accordance wllh Ihe Financlal Reporting Standard applicable In the UK and Republic of Ireland IFRS 102) in preference to the Accounting and Reporting by Charlties.. Statement of Recommended Practlce Issued on 1 April 2005 which is referred to in the extant regulations bul has now been withdrawn. l understand Ihat thls has been done In order for financlal slalemenls to provide a true and fair view In 8ccordance wSth Gen8rally Accepted AcGountlng Practice effective for reporting perlods beglnnlng on or after l January 2015. I have completed my examlnatlon. I confirm that no matters have come lo my attenllon in conn6Ctlon wlth Ihe examinalion giving me cause to belleve that In any material respect: accounting records were not kept In respecl of lh8 charlty as requlred by Sectlon 130 of the 2011 Act., or the financlal stat8m8nts do not accord with Ihose records- or the financial statements do not comply wlh Ihe applicable requlrements concernlng the form and conlent of accounts set out in th8 Charities (Accounts and Reports) Regulatlons 2008 other than any requiremant that Ihe accounts glve a true and fair view whlch Is not a matter consklered as part of an Independent examination, I have no conc8rns and hgvè come across no other mallers In connects'on with the examlnatlon to which attentlon should be drawn in this report in order to enable a proper understanding of the financlal statements to be reached, Champlon TLL Llmlled P Bell ACCA 7-9 Statlon Road Hesketh Bank Preston Lancashire PR4 6SN Dated:
STANLEY GRANGE COMMUNITY ASSOCIATION CIO STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Current flnanclal year Unrestrlcted Unrestrlcted funds funds general deslgnated 2024 2024 Restrlcted funds Total Total 2024 2024 2023 Noteg Income and endowments from: Donations and legaci8S Investmenls other income 54.510 4,034 146.400 232,740 287.250 4.034 146,400 200,469 1,169 152,855 Total Income 204,944 232,740 437,684 354,493 Expandlture on: Ralslng funds Charltable actSvltles 21,822 154,745 21,822 193,997 861 204,253 39,252 Total expendlture 176.567 39,252 215,819 205,114 Net Incom6 28.377 193,488 221,865 149,379 Transfers b8lween funds 206,550 (60,523) (146,027) Net movement In funds 234,927 (60,523) 47,461 221,865 149,379 Reconclllatlon of funds: Fund balances at 1 April 2023 1,783,383 160,523 120,271 2,064,177 1,914,798 Fund balances at 31 March 2024 2,018,310 100.000 167,732 2,286,042 2,064,177 The slalamenl of financlal aclivlties Includes all galns and losses recognised in the year. All Income and expendlture derive from conllnulng actlvlt18S.
STANLEY GRANGE COMMUNITY ASSOCIATION CIO STATEMENT OF FINANCIALACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prlor flnanclal year Unrestrlcted Unrestrlcted funds funds general deslgnatéd 2023 2023 Restrlcted funds Total 2023 2023 Notes Income and endowments from: Donallons and legacies Investments Olher Income 44.818 1,169 152.855 155,651 200,469 1.169 152.855 Total Income 198,842 155,651 354,493 Expendlture on: Ralslng funds Charllable actlvllies 861 178,984 881 204,253 25.269 Total expendlture 179,845 25,289 205,114 Net Income 18,997 130,382 149,379 Transfers beeen funds 135,639 114,477) (121,162) Net movement In funds 154,636 {14,477) 9,220 149,379 Reconclllatlon of funds: Fund balances 811 Aprll 2022 1,628,747 175,000 111.051 1,914,798 Fund balances at 31 March 2023 1.783,383 160,523 120,271 2,064,177
STANLEY GRANGE COMMUNITY ASSOCIATION CIO BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Flxèd assets Tanglble assels 13 2,911,823 2,810.068 Current assets Debtors Casli al bank and in hand 14 9,521 275,443 323,288 323.288 284,964 Credltors: amount8 falllng due wllhln one year 16 <94,367) (94,1021 Net Current assets 228,921 190,862 Total assels less curréht Ilabllltlès 3,140,744 3,000,930 Crodltors: amount8 falllng due aftor Inorè Ilian one year 17 (854,7021 1936,7531 Net assets excludlng penslon Ilablllly 2.286,042 2.064.177 Net assels 2.286.042 2.064,177 The lunds ol the charlty Reslrlclèd Income lund$ Unreslricled lunds geneial Unreslrlcled lunds deslgnoted 18 167.732 2,018,310 100,000 120,271 1,783.383 160.fJ23 19 2,286,042 2,064,177 Thè CharSly had goneral fiinds at the end 91 tho year of £2.018,310 (funds whlch are iiol restilcted or olherwlse dgslgnated for speclfl¢ purposès). Howèver thls balbi)¢o Is ropre8ènted by net long-tèrin as8&ts Iflxed assots less loans due aftei moro than one year) and as such are nol Ilquld funds. The unrestrl¢ted bank balance al the year end was £155,556. £100,000 of Ihls balanco relat9¥ to Dgslgnaled Funds, leavlng free cash 01 £55,556, Thls amount Is equlvalent to 4 n)onths unreslrl¢tod ¢harllablè expenses. The lin8ncl I slalgmgnls were approved by Ihe Irusleeg on MrRLee Trustee
STANLEY GRANGE COMMUNITY ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Charlly Informatlon Stanley Grange CommunSly Assoclation CIO Is a Charitable Incorporaled Organlsalion. 1.1 Accountlng convenllon The financial slalements have been prepared In accordance with the charity's governing document, the Charltles Acl 2011, FRS 102 "The Financial Reporting Standard applicable In Ihe UK and Republlc of Ireland. ("FRS 102°) and the Charities SORP "Accounting and Reportlng by Charllies: Statement of Recommended Practice applicable to charit18s preparing thelr accounts In accordance with th8 Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102>" (effective l January 2019), Th8 charity Is a Public Benefit Entity as defin8d by FRS 102. The charity has taken advantage of the provistons In the SORP for chari118s not lo prepare a Slat&nent of C8sh Flows. The financlal stalemenls have departed from the Charities {Accounts and Reports) Regulallons 2008 only to the extent required to provide a true and falr vi8w. Thls departure has involved following the Statement of Recommended Practice for charities applying FRS 102 ralher than the version of the Slat8ment of Recommended Practice which Is referred lo In the Regulations bul whlch has slnce been wllhdrawn. The financlal slalements are prepared in st8rllng, whlch Is the functional currency of the charity. Monetary amounts in Ihes& financlal slatemenls are rounded to the nearest £. The flnancial statement8 have b88n prepared under Ihe hlstorlcal cost convenllon. modified to Include the revaluatlon of freehold properties and to include investmenl properties and certain financial instrunents al falr value, The principal accountlng polScies adopted are set out below. 1.2 Golng concern At the lime of approvlng the financial 8tatem8nts, the trustees have a reasonable expectatlon that th& charlly has adequate resources to contlnue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basls of accounting In preparing the financial statements. 1.3 Charltsblè funds Unrestrlcted funds are available for use at the discretion of the trust8es In furtherance of Iheir charilable obj8Gllves. Deslgnated funds are free reserves thal'have been designated by the trustees for speclfic purposes. These are further disclosed In the notes to the accounts. Reslficted funds ar8 subject to specific condltlon5 by donors or grantors as to how they may be used. The purposes and u8es of the restrlcled funds are set out in th8 notes to the financial statements. Endowment funds are 8ubject to speclfic conditions by donors that the capltal must be maintalned by the charlty. 1.4 Incom Income is recognised when the charlly is legally entilled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. other donatlons are recognised once the charity has been notiried of the donation, unless performance conditions require deferral of the amount. Income tax recoverable In relation lo donations received under GiftAld or deeds of covenant is recognised at the tlme of the donation.
STANLEY GRANGE COMMUNITY ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Contlnued) Legacles are recognised on recelpt or olheTwise if the charily has been notified of an impending distribution, the amount is known, and receipt is expecled. If the amount is not known, the legacy is tiealed as a contingent assel. 1.5 Expendltur8 Exp&ndllure is recognised once there is a legal or conslruclive obllgallon lo Iransfer economlc benefit lo a third party, It Is probable that a transfer of economlc benefits wll be required in settlement, and th8 amount of the obllgatlon can ba measured reliably. Expenditure is classified by activity. The costs of each activity are made up of th8 total of dIrt costs and shar8d cosls, including support cosls involved in undertaking each aclivily. Direct costs alldbutable lo a single aclivily are allocaled directly lo that activlty. Shared costs which contribute lo more Ihan one acllvlly and support cos18 which are not allributable to a single activliy are apportioned be@8 those activities on a basls consistent wlth the use of resources. Central slaff costs ar8 allocated on the basis of Ilme spent, and depreciation charges are allocated on the portlon of the asset's use. 1.6 Tanglble flxed assets Tanglble fixed assets are Inltlally measured at cost and subsequently measured at cosl or valuation, n8t of depreclallon and any impalrment losses. Depreclatlon Is recognised so as to write off the cost or valuatlon of assets less their residual values over their useful lives on the following bases: Freehold property Computer equipmenl 2% on cost 330A on cost The galn or1088 arislng on the disposal of an asset is determined as the difference beiween the sale proceeds and the carrylng value of the asset, and is recognised In the statement of financlal activities. 1.7 Impalrment of flxed assets At each r8porllng end date, Ihe charlty revlews the carrying amounts of ils tangible assets to determlne whether there is any Indlcatlon Ihat thos8 assets have suffered an impa5rment loss. If any such Indication exists, the recoverable amount of the asset is estimated In order to determine th8 extent of the impairment loss (if any). 1,8 Cash and cash equlvalent8 Cash and cash equivalents include cash In hand. deposlls held at call with banks, other short-temi Ilquld investmenls wllh original maturities of Ihree months or18ss. and bank overdrafts. Bank overdrafts are Shown wlthin borrowings In current liabilities. 1.9 Flnanclal Instruments The charily has elected to apply the provSslons of Seclion 11 'B8slc Flnancial Instruments, and Sectlon 12 'Olher Financlal Instruments Issues. of FRS 102 to all of Its financial instruments. Financial Instruments are recognlsed In the charity's balance sheet when the charity becomes party to the contractual provisions of the Instrument. Financial assets and Ilabililies are offset. with Ihe net amounts presented in the financlal statements. when there Is 8 legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basls or to realise the asset and settle Ihe liability simultaneously. 10-
STANLEY GRANGE COMMUNITY ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Contlnued) Baslc flnanclal assets Baslc financlal assets, which Include debtors and cash and bank bal8nc&s, are initially measured al transaction price including transaction costs and are subsequently carried at amortised Cost uslng the effective Interest method unless the arrangement conslitules a financing transaction, where the transaction is measur6d at the present value of the future receipls discounled at a market rate of Interest. Financial assets classified as recelvable within one year are not amortised. Baslc financlal Ilabllltles Baslc financial liabilities, Includlng credllors and bank loans are initlally recognised al Iiansaction price tjnless the arrangement constltules a financing Iransaclion. where the debt instrument Is measured at the present value of the future paymen15 discounted at a market rate of interest. Flnancial liabilities classlfi8d as payable wilhln one year are not amortlsed. Debt Instruments are subsequently carrled al amortised cost, using the effeGtlve Interest rate method. Trade creditors are obligallons lo pay for good8 or services that have been acquired In the ordlnary course of operations from suppliers. Amounts payable are classified as current Ilabilllies if payment is due wlthln one year or less. If not, Ihey are presented as non-currenl Iiabillties. Trade credilors are recognlsed inilially al transaction price and subsequently measured al amortlsed cost uslng Ihe effective Interest method. Derecognltlon of flnanclal Ilabllltl8S Flnanclal liabilities are derecognised when the charity's contraclual obllgalions expire or are dlscharged or cancelled. 1.10 Taxatlon The charlty Is exempt from tax on it8 charitable actlvltles. 1.11 Employ6e beneflts The cost of any unused holiday enlltlement is recogni8ed Sn th8 perlod In whkch Ihe employe8's servlces are received. Termlnatlon benefits are recogn18ed immedlately as an expense when Ihe charily demonstrably commllled to termlnate the employmenl of an employee or to provlde termination benefits. Crltlcal accountlng e8tlma188 and ludgoments In the appllGalion of the charity'8 accounting policies, the Irustees are requiied to make Judgements. estimates 8nd assumptions about the carrying amount of assets and Ilabililies thal are not readlly apparent from other ources. The esllmates and assoclated assumptions are based on historical experience and olhei faclors that are considered to b8 relevant. Actual results may differ from these eslimale5. The estlmates and underlying assumptions are reviewed on an ongoing basls. Revislons to accountlng estimales are recognised in the period in whlch the eslimate is revised where the revision affects only that perlod, or in the period of the revlslon and futur8 periods where the revision affects bolh currenl and future periods. 11
STANLEY GRANGE COMMUNITY ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlons and legacles Unrestrlcted Restrlcted funds funds 2024 2024 Total Unreslrlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Donalions and glfts Grants 9.510 45,000 9.510 277,740 14.818 30,000 14,818 185.651 232,740 155,651 54,510 232.740 287.250 44.818 155,851 200,469 Grants recelvable for core actlvltles Oliver Ford The Lotlery Fund The Edward Goslling Foundallon Collon Industry War Memorial Imlls Charltable Tru8t Balley Thomas Clothworkers Albert Gubay Charllable Foundation B&Q Foundatlon othér 10,000 31,940 10,000 31,940 41,158 41,156 25,000 25,000 20,000 91,000 20,000 91,000 15,000 30,000 30,000 15,000 80,000 80,000 65,000 9,800 5,000 65,000 9,800 10,000 25,000 25,000 5,000 9.495 9,495 45,000 232,740 277,740 30,000 155,651 185,651 Income from Investments Unrestrlcted Unr8slrlcted funds funds 2024 2023 Interest recelvable 4,034 1,169 Other Incom6 Unrestrlcted Unrestrlcted funds funds 2024 2023 Provlslon of accommodation and supported work placements 146,400 152,855 12-
STANLEY GRANGE COMMUNITY ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendlture on ralslng funds Unrestrlcted Unrestrlclad fund5 funds 2024 2023 Fundralslng and publlclty Other fundraising cosls 21,822 861 Expendlture on charllable actlvltles Provlslon of Provlslon of accommoda accommoda tlon and tlon and 8UPPOrted supported work work placements placements 2024 2023 Dlrect costs Depreclalion and ImpaSrmenl Charitable expendlture Repalrs and renewals Insurance Printing and stationery Transport costs Website Interest costs Professional fees Sundry cost8 Bank Charges 44,272 78,965 3,760 11,231 100 5,724 1.688 39,544 4,453 1.375 136 41,352 57,757 17,227 10,923 17 8,002 569 42,576 21,095 4,181 101 191,248 201,800 Share of support and governance costs (see note 8) Governance 2.749 2,453 193,997 204,253 Analysls by fund UnTesliicted funds - general Restricted funds 154,745 39,252 178,984 25,269 193,997 204.253 13-
STANLEY GRANGE COMMUNITY ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to actlvltles 2024 2023 Governance costs 2.749 2,453 Analysed bet4veen: Provision of accommodation and supported wotk placements 2,749 2,453 Nèt movement In funds 2024 2023 The nel movement in funds Is stated after chargingl(credltlng)'. Depreclation of owned langible fixed assets 44,272 41,352 10 Trustee8 The were no Irustees, remuneratlon or other b8neflls for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, exponses There were no trustees, expenses pald for year ended 31 March 2024 nor for the year 31 March 2023. 11 Employe8S The average monthly number of employees during the year was: 2024 Number 2023 Number Total 12 Taxatlon The charity is exempl from laxation on Its activilies because all Its Income is appSled for charitable purposes. 14-
STANLEY GRANGE COMMUNITY ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tanglble flxed assets Freehold property Computer oqvlpmont Total C08t At 1 April 2023 AddStlons 3,067,585 146,027 218 3.067,803 146,027 At 31 March 2024 3.213.812 218 3,213,830 Depreclatlon and Impalrment At 1 April 2023 Depreclation charged In Ihe year 257,517 44,272 218 257,735 44,272 At 31 March 2024 301,789 218 302,007 Carrylng amount Al 31 March 2024 2,911,823 2,911,823 At 31 March 2023 2.810,068 2,810,068 Within freehold property Is land ai a deemed cost of £1,000,000 whlch is not depreciated. AS al 31 March 2024 the charity had spent a further £1,613,612 on improvements to Ihe property to date (In addition to the original bullding cost of £600,000). 14 Debtors 2024 2023 Amounts falllng due wlthln on6 year.. Trade debtors Prepayments and acctued Incom& 9,520 9,521 15 Loans and overdrafts 2024 2023 Bank loans 936,753 1,018,804 Payable within one year Payable after one year 82,051 854,702 82,051 936,753 Amounts included above which fall due after five years: Payable by instalments 533.334 608,548 15-
STANLEY GRANGE COMMUNITY ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Loans and overdrafts (Contlnued) The long-lerm loans are secured by a legal charge over the property. 16 Credltors., amounts falllng du8 wlthln one year 2024 2023 Notes Bank loan8 Trade creditors Aocruals and deferred Income 16 82,051 9,187 3,129 82,051 9,676 2.375 94,367 94,102 17 Credltors: amounts falllng du8 after more than one year 2024 2023 Notes Bank loans 16 854,702 936,753 18 Re8trlcted funds The restricted fund8 of the charlty comprlse the unexpended balanc8s of donsllons and grants held on tru8t sublecl lo speclfic conditions by donor8 as lo how they may be used. At 4 Aprll 2023 Incomlng resources Resources expended Transfers At 31 March 2024 Restrlcted Funds 120,271 232,740 (39,252) (146,027) 187,732 Prevlous year: At 1 Aprll 2022 Incomlng Resources resources 8xponded Transfers At 31 March 2023 Restrlcled Funds 111,051 155,651 (25.269) (121,162) 120,271 16-
STANLEY GRANGE COMMUNITY ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Unrestrlcted funds - deslgnaled These are unrestrlcled funds which are material to the charlly's activities. At 1 Aprll 2023 Transfers At 31 March 2024 160,523 (60,523) 100,000 Prevlous year: At 1 Aprll 2022 Transfers At 31 March 2023 175.000 (14,477) 160,523 20 Unrestrlcted funds The unrestrlcled funds of the charlly comprise the unexpended balances of donallons and grants whlch are not subject to speclfic condltlons by donors and grantors as to how they may b8 used. These include deslgnaled funds which have been set aside oul of unrestricted fund8 by the Iruslees for speclfic purposes. At 1 Aprll 2023 Incomlng Resources re80urce3 expended Transfers At 31 March 2024 General funds 1,783,383 204,944 (176,567) 206,550 2,018,310 Pr9vIou8 year: At 1 Aprll 2022 Incomlng resources Resources expended Transfers At 31 March 2023 General funds 1.628.747 198,842 (179,845) 135,639 1,783,383 21 Analysls of net a88ets between funds Unr8Strlcted Unrestrlcted funds funds general deslgnated 2024 2024 Restrlcted funds Total 2024 2024 At 31 March 2024: Tsnglble assels Current assetsl(liabilities) Long term Ilabilllies 2,811,823 61,189 (854,702) 100,000 2,911,823 228,921 (854,702) 167,732 2,018.310 100,000 167,732 2,286,042 17-
STANLEY GRANGE COMMUNITY ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Analysis of net assets between funds Icontlnued) Unrestrlcted Unrestrlcted funds funds general deslgnated 2023 2023 Restrlcled funds Total 2023 2023 At 31 March 2023: Tangible assels Current assetsl(liabllili8s) Long term liabilllies 2,649,545 70,591 (936,753) 160,523 2,810,068 190,862 (936,753) 120.271 1.783,383 160,523 120,271 2,064,177 The deslgnaled fund of £100,000 represenls monies ringfenced for ongolng refurbishm8nt work8 on the resldent housing, whlch will be sufficient to comp18te the Pendle House element. Further funds wlll be ralsed and d6s1gnated for the remaSnlng refurbishment work, whlch wlll be carried out in phases as fund8 become available. There Is a restrlcled balance of £25,175 from the National Loltery towards an activities co-ordinator. There Is a resiricled balance of £3,342 from Lancashire Communlty Fund towards iPads, There is a restflcted balance £139,028 iecelved from varlous sources towards phases 415 of the developmenl of the slte Includlng th9 Pendle and Weavers Cottages. There Is a restricted balance of £187 which has been funded from varlous sources for the provision of an outdoor gym. Transfers belween funds relate to the purchase of Flxed Assels whlch have been purchased In the year, Thls Iransfer shows that all re81riclion condltions have been met and that Ihe assels are unrestrlcl8d. 22 Related party transactlons There were no dlsclosable related party transacllons during the year (2023 - none). 18-