Wooldale Community Association
Charity number 1159314
Annual Report and Financial Statements
for the year ended 31 March 2023
Wooldale Community Association
Annual Report and Financial Statements for the year ended 31 March 2023
| Contents | Page |
|---|---|
| Trustees' report | 2 to 3 |
| Examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7 to 11 |
Prepared by West Yorkshire Community Accountancy Service CIO
1
Wooldale Community Association
Trustees' report for the year ended 31 March 2023
Reference and administrative details of the charity, its trustees and advisors
The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates
Position Dates A Beaumont J M Hirst Treasurer D Taylor G Flewers Secretary J Walton J A Lockwood Chair A Dearnley J Booth W R Pearson H Lightfoot-Wild Appointed 5 December 2022 Charity number 1159314 Registered in England and Wales
Charity number 1159314 Registered and principal address Bankers Wooldale Community Centre HSBC Robert Lane 2 Cloth Hall Street Wooldale Huddersfield Holmfirth HD1 2ES HD9 1XZ
Independent examiner
E J Beverley FCCA Stringer House 34 Lupton Street Leeds LS10 2QW
West Yorkshire Community Accountancy Service CIO
Structure, governance and management
The charity is a Charitable Incorporated Organisation (CIO) association formed on 21 November 2014 and is governed by a constitution.
Method of recruitment and appointment of trustees
The trustees of the charity are appointed by the members at the AGM or by Trustees or member groups during the year.
2
Wooldale Community Association
Trustees' report (continued) for the year ended 31 March 2023
Objectives and activities
The charity's objects
To promote the benefits of the inhabitants of Wooldale and the neighbourhood without distinction of sex or of political, religious or other opinions and to provide facilities in the running of a Community Centre in the interests of social welfare for recreation and leisure time occupation for the said inhabitants.
The charity's main activities
The running of a Community Centre.
On 17th February 2017 the ownership of Wooldale Community Centre was transferred from Kirklees Council to the Association under an asset transfer agreement.
Public benefit statement
In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit. The continued success, over 40 years, in providing a thriving and well run Community Centre for the benefit of all sections of the general public is, in the opinion of the Trustees, confirmation of such public benefit.
Achievements and performance
The results show a near back to normal situation after the effects of Covid 19 with most user groups returning to the Centre.
The Association benefited from grants towards the plans to install new boilers.
Financial review
The net income for the year was £3,560, including net expenditure of £2,440 on unrestricted funds and net income of £6,000 on restricted funds, after transfers.
Reserves policy
The charity's free reserves, excluding fixed assets, at the year end were £62,671 which includes designated funds of £10,000.
Sufficient reserves are required to ensure the continuing success of the well run and used centre.
Following the acquisition of the freehold land and buildings the trustees consider the reserves should always be in excess of £20,000.
Funds in excess of this amount will be used for the development of the Centre.
Approved by the board of trustees on 06/11/2023
J M Hirst (Trustee)
3
Wooldale Community Association
Independent examiner's report to the trustees of Wooldale Community Association
I report to the charity trustees on my examination of the accounts of the CIO for the year ended 31 March 2023, which are set out on pages 5 to 11.
Responsibilities and basis of report
As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the CIO's accounts as carried out under section 145 of 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 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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 charity as required by section 130 of the Charities Act; 2 the accounts do not accord with those records; or
- 3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 accounts to be reached.
E J Beverley FCCA
17/11/2023
West Yorkshire Community Accountancy Service CIO
Stringer House 34 Lupton Street Leeds LS10 2QW
4
Wooldale Community Association
Statement of Financial Activities
(including summary income and expenditure account) for the year ended 31 March 2023
| Notes 2023 Unrestricted funds £ Income from: Grants and donations (2) 355 Centre usage charges 21,792 Membership 43 Clothing sales 198 Investment income 1,211 Building Society interest 311 Total income 23,910 Expenditure on: Salaries and NIC (3) 6,175 Water rates 601 Utilities 3,356 Repairs and maintenance 8,060 Printing, postage and stationery 168 Telephone 457 Advertising and publicity 121 Sundry expenses 799 Insurance 1,502 Cleaning 1,030 Licences 256 Independent examination 803 Depreciation 1,284 Total expenditure 24,612 Net (losses) on investments (2,328) Net income / (expenditure) (3,030) Transfers between funds 590 Net movement in funds (2,440) Fund balances brought forward 72,804 Fund balances carried forward (4) 70,364 |
2023 Restricted funds £ 10,590 - - - - - 10,590 - - - - - - - - - - - - 4,000 4,000 - 6,590 (590) 6,000 226,000 232,000 |
2023 Total funds £ 10,945 21,792 43 198 1,211 311 34,500 6,175 601 3,356 8,060 168 457 121 799 1,502 1,030 256 803 5,284 28,612 (2,328) 3,560 - 3,560 298,804 302,364 |
2022 Total funds £ 12,323 19,098 11 217 934 103 32,686 5,578 666 3,613 3,057 295 157 115 128 1,300 1,190 428 375 5,408 22,310 (744) 9,632 - 9,632 289,172 298,804 |
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
5
Wooldale Community Association
Balance sheet
| as at 31 March 2023 2023 Unrestricted £ Fixed assets Tangible assets (5) 7,693 Total fixed assets 7,693 Current assets Debtors and prepayments (6) 10,434 Current asset investments (7) 41,548 Cash at bank and in hand (8) 13,067 Total current assets 65,049 Current liabilities: amounts falling due within one year Creditors and accruals (9) 2,008 Rental deposits 370 Total current liabilities 2,378 Net current assets 62,671 Net assets 70,364 Funds Unrestricted funds General unrestricted funds 60,364 Designated funds (10) 10,000 Unrestricted funds 70,364 Restricted funds - Total funds 70,364 |
2023 Restricted £ 222,000 222,000 - - 10,000 10,000 - - - 10,000 232,000 - - - 232,000 232,000 |
2023 Total £ 229,693 229,693 10,434 41,548 23,067 75,049 2,008 370 2,378 72,671 302,364 60,364 10,000 70,364 232,000 302,364 |
2022 Total £ 234,011 234,011 4,923 43,876 18,036 66,835 1,564 478 2,042 64,793 298,804 72,804 - 72,804 226,000 298,804 |
|---|---|---|---|
The financial statements were approved by the board of trustees on 06/11/2023
J M Hirst (Trustee)
6
Wooldale Community Association
Notes to the accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
There has been no change to the accounting policies since last year.
No changes have been made to the accounts for previous years.
Going concern
The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, if it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
Grants and donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.
Investments
Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year.
Expenditure and liabilities
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
Taxation
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
Tangible fixed assets
Tangible fixed assets costing more than £250 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows:
Freehold land: nil Freehold buildings: over 50 years Fixture and fittings: over 10 years
7
Wooldale Community Association
Notes to the accounts continued
for the year ended 31 March 2023
1 Accounting policies continued
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
| 2 Grants and donations Holme Valley Parish Council One Community Bright Green Fund HM Revenue & Customs Kirklees Council British Heart Foundation (BHF) Other donations 3 Staff costs and numbers Gross salaries |
2023 Unrestricted funds £ - - - - - 355 355 |
2023 Restricted funds £ 5,000 5,000 - - 590 - 10,590 |
2023 Total funds £ 5,000 5,000 - - 590 355 10,945 2023 £ 6,175 6,175 |
2022 Total funds £ - - 810 10,667 - 846 12,323 2022 £ 5,578 5,578 |
|---|---|---|---|---|
The average number of employees during the year was 2, being an average of 0.4 full time equivalent (2022: 2, 0.4 FTE). There were no employees with emoluments above £60,000.
| 4 Restricted funds Wooldale Community Centre Holme Valley Parish Council One Community Bright Green Fund Defib Fund - BHF |
Balance buff £ 226,000 - - - 226,000 |
Incoming £ - 5,000 5,000 590 10,590 |
Outgoing £ 4,000 - - - 4,000 |
Transfers £ - - - (590) (590) |
Balance c/f £ 222,000 5,000 5,000 - 232,000 |
|---|---|---|---|---|---|
Purpose of restriction
Fund name Purpose of restriction Wooldale Community Centre The asset transfer is subject to the restriction that the building is for community use.
Holme Valley Parish Council To purchase new heating equipment which was acquired in September 2023. One Community Bright Green Fund To purchase new heating equipment which was acquired in September 2023. Defib Fund - BHF Towards the cost of a Defibrillator. Transfer relates to moving costs to unrestricted funds as the defibrillator will be used for general use of the charity.
8
Wooldale Community Association
Notes to the accounts continued
for the year ended 31 March 2023
| 5 6 7 8 **9 ** |
Tangible assets Cost At 1 April 2022 Additions At 31 March 2023 Depreciation At 1 April 2022 Charge for year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 Debtors and prepayments Debtors Prepayments Current asset investments Market value bought forward Additions in year Add: net loss on revaluation Carrying (market) value at end of year Cash at bank and in hand Cash at bank Cash in hand Creditors and accruals Creditors Tax and Social Security Accruals |
£ 53,657 966 54,623 45,646 1,284 46,930 7,693 8,011 Fixtures and fittings |
£ 200,000 - 200,000 24,000 4,000 28,000 172,000 176,000 Freehold buildings |
£ 50,000 - 50,000 - - - 50,000 50,000 2023 £ 9,081 1,353 10,434 2023 £ 43,876 - (2,328) 41,548 2023 £ 22,935 132 23,067 2023 £ 1,118 98 792 2,008 Freehold land |
Total £ 303,657 966 304,623 69,646 5,284 74,930 229,693 234,011 2022 £ 3,678 1,245 4,923 2022 £ 29,620 15,000 (744) 43,876 2022 £ 17,846 190 18,036 2022 £ 1,097 92 375 1,564 |
|---|---|---|---|---|---|
9
Wooldale Community Association Notes to the accounts continued
for the year ended 31 March 2023
| 10 Designated funds Balance b/f Incoming Outgoing £ £ £ Boiler fund 10,000 - - 10,000 - - Fund name Reason for designation Boiler fund 11 Related party transactions Trustee expenses Details of remuneration and benefits Jennifer Walton Gross pay No trustee received any expenses during this year or the previous year. Towards replacement boiler. |
Transfers £ - - 2023 £ 4,199 4,199 |
Balance c/f £ 10,000 10,000 2022 £ 3,839 3,839 |
|---|---|---|
Reason for remuneration
Jennifer Walton is a trustee and is paid for her work as a cleaner. The Charity Commission has confirmed that as she was employed prior to being appointed a trustee, then their formal approval is not required.
No trustee received any other remuneration or benefit during this or the previous year.
10
Wooldale Community Association
Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2023
| 2023 2022 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 355 11,113 Centre usage charges 21,792 19,098 Membership 43 11 Clothing sales 198 217 Investment income 1,211 934 Building Society interest 311 103 Total income 23,910 31,476 Expenditure Salaries and NIC 6,175 4,768 Water rates 601 666 Utilities 3,356 3,613 Repairs and maintenance 8,060 3,057 Printing, postage and stationery 168 295 Telephone 457 157 Advertising and publicity 121 115 Sundry expenses 799 128 Insurance 1,502 1,300 Cleaning 1,030 1,190 Licences 256 428 Independent examination 803 375 Depreciation 1,284 1,408 Total expenditure 24,612 17,500 Net (losses) on investments (2,328) (744) Net income / (expenditure) (3,030) 13,232 Transfers between funds 590 400 Net movement in funds (2,440) 13,632 Fund balances brought forward 72,804 59,172 Fund balances carried forward 70,364 72,804 |
2023 Restricted funds £ 10,590 - - - - - 10,590 - - - - - - - - - - - - 4,000 4,000 - 6,590 (590) 6,000 226,000 232,000 |
2022 Restricted funds £ 1,210 - - - - - 1,210 810 - - - - - - - - - - - 4,000 4,810 (3,600) (400) (4,000) 230,000 226,000 |
2023 Total funds £ 10,945 21,792 43 198 1,211 311 34,500 6,175 601 3,356 8,060 168 457 121 799 1,502 1,030 256 803 5,284 28,612 (2,328) 3,560 - 3,560 298,804 302,364 |
2022 Total funds £ 12,323 19,098 11 217 934 103 32,686 5,578 666 3,613 3,057 295 157 115 128 1,300 1,190 428 375 5,408 22,310 (744) 9,632 - 9,632 289,172 298,804 |
|---|---|---|---|---|
11