2024-03-31-accounts - Wooldale Community Association

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Wooldale Community Association

Charity number 1159314

Annual Report and Financial Statements

for the year ended 31 March 2024

Wooldale Community Association

Annual Report and Financial Statements for the year ended 31 March 2024

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 10

Prepared by West Yorkshire Community Accountancy Service CIO

Wooldale Community Association

Trustees' report for the year ended 31 March 2024

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

J Lightfoot Chair A Beaumont J M Hirst Treasurer D Taylor G Flewers Secretary J Walton J A Lockwood A Dearnley J Booth W R Pearson H Lightfoot-Wild T Quayle S Boden C Lightfoot -Wild E Mitchell

Appointed 11th December 2023 Resigned 13th May 2024

Resigned 8 July 2024

Appointed 16 October 2023 Resigned 15th November 2023 Appointed 16 October 2023

Appointed 11th December 2023 Appointed 8th January 2024 Appointed 11th December 2023 Appointed 5th February 2024

Charity number

1159314

Registered in England and Wales

Registered and principal address

Wooldale Community Centre Robert Lane Wooldale Holmfirth HD9 1XZ

Bankers

HSBC CCLA Fund Managers Ltd Unit 11-12 Kingsgate Shopping Centre PO Box 12892 Huddersfield Dunmow HD1 2QB Essex CM6 9DL

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 amended on the 14 May 2024 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.

Wooldale Community Association

Trustees' report (continued) for the year ended 31 March 2024

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 Association benefited from grants towards the installation of new boilers.

Financial review

The net income for the year was £2,011, including net income of £16,011 on unrestricted funds and net expenditure of £14,000 on restricted funds after transfers.

Reserves policy

The charity's free reserves, excluding fixed assets, at the year end were £64,504.

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 03/06/2024

James Michael Hirst (Trustee)

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 2024, which are set out on pages 5 to 10.

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

20/09/2024

West Yorkshire Community Accountancy Service CIO

Stringer House 34 Lupton Street Leeds LS10 2QW

Wooldale Community Association

Statement of Financial Activities

(including summary income and expenditure account) for the year ended 31 March 2024

Notes 2024 Unrestricted funds £ Income from: Grants and donations (2) 405 Centre usage charges 23,368 Membership 48 Clothing sales 187 Investment income 1,154 Building Society interest 519 Total income 25,681 Expenditure on: Salaries and NIC (3) 6,773 Water rates 973 Utilities 7,315 Repairs and maintenance 231 Printing, postage and stationery 138 Telephone 203 Advertising and publicity 188 Sundry expenses 313 Insurance 1,427 Cleaning 1,300 Licences 146 Independent examination 924 Depreciation 3,002 Total expenditure 22,933 Net gains/(losses) on investments 3,263 Net income / (expenditure) 6,011 Transfers between funds 10,000 Net movement in funds 16,011 Fund balances brought forward 70,364 Fund balances carried forward (4) 86,375	2024 Restricted funds £ - - - - - - - - - - - - - - - - - - - 4,000 4,000 - (4,000) (10,000) (14,000) 232,000 218,000	2024 Total funds £ 405 23,368 48 187 1,154 519 25,681 6,773 973 7,315 231 138 203 188 313 1,427 1,300 146 924 7,002 26,933 3,263 2,011 - 2,011 302,364 304,375	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

All incoming resources and resources expended derive from continuing activities.

Wooldale Community Association

Balance sheet

as at 31 March 2024 2024 Unrestricted £ Fixed assets Tangible assets (5) 21,871 Total fixed assets 21,871 Current assets Debtors and prepayments (6) 11,937 Current asset investments (7) 44,311 Cash at bank and in hand (8) 11,201 Total current assets 67,449 Current liabilities: amounts falling due within one year Creditors and accruals (9) 2,655 Rent deposits 290 Total current liabilities 2,945 Net current assets 64,504 Net assets 86,375 Funds Unrestricted funds General unrestricted funds 86,375 Designated funds (10) - Unrestricted funds 86,375 Restricted funds - Total funds 86,375	2024 Restricted £ 218,000 218,000 - - - - - - - - 218,000 - - - 218,000 218,000	2024 Total £ 239,871 239,871 11,937 44,311 11,201 67,449 2,655 290 2,945 64,504 304,375 86,375 - 86,375 218,000 304,375	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

The financial statements were approved by the board of trustees on 03/06/2024

James Michael Hirst (Trustee)

Wooldale Community Association

Notes to the accounts

for the year ended 31 March 2024

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

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

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

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.

Wooldale Community Association

Notes to the accounts continued

for the year ended 31 March 2024

2 Grants and donations Holme Valley Parish Council One Community Bright Green Fund British Heart Foundation (BHF) Other donations 3 Staff costs and numbers Gross salaries	2024 Unrestricted funds £ - - - 405 405	2024 Restricted funds £ - - - - -	2024 Total funds £ - - - 405 405 2024 £ 6,773 6,773	2023 Total funds £ 5,000 5,000 590 355 10,945 2023 £ 6,175 6,175

The average number of employees during the year was 2, being an average of 0.4 full time equivalent (2023: 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 Fund name Wooldale Community Centre Holme Valley Parish Council	Balance b/f Incoming Outgoing Transfers Balance c/f £ £ £ £ £ 222,000 - 4,000 - 218,000 5,000 - - (5,000) - 5,000 - - (5,000) - 232,000 - 4,000 (10,000) 218,000 Purpose of restriction The asset transfer is subject to the restriction that the building is for community use. To purchase new heating equipment. The transfer relates to moving fixed asset cost to unrestricted funds.

One Community Bright Green Fund To purchase new heating equipment. The transfer relates to moving fixed asset cost to unrestricted funds.

5	Tangible assets Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023	£ 54,623 17,180 71,803 46,930 3,002 49,932 21,871 7,693 Fixtures and fittings	£ 200,000 - 200,000 28,000 4,000 32,000 168,000 172,000 Freehold buildings	£ 50,000 - 50,000 - - - 50,000 50,000 Freehold land	Total £ 304,623 17,180 321,803 74,930 7,002 81,932 239,871 229,693

Wooldale Community Association

Notes to the accounts continued

for the year ended 31 March 2024

6 Debtors and prepayments Debtors Prepayments 7 Current asset investments Market value bought forward Disposals in year Add: net gain/ loss on revaluation Carrying (market) value at end of year 8 Cash at bank and in hand Cash at bank Cash in hand 9 Creditors and accruals Creditors Accruals Taxation and social security 10 Designated funds Balance b/f Incoming £ £ Boiler fund 10,000 - 10,000 - Fund name Reason for designation Boiler fund Towards replacement boiler.	Outgoing £ 10,000 10,000	2024 £ 10,287 1,650 11,937 2024 £ 41,548 (500) 3,263 44,311 2024 £ 11,130 71 11,201 2024 £ 1,607 924 124 2,655 Transfers £ - -	2023 £ 9,081 1,353 10,434 2023 £ 43,876 - (2,328) 41,548 2023 £ 22,935 132 23,067 2023 £ 1,118 792 98 2,008 Balance c/f £ - -

11 Related party transactions Trustee expenses

No trustee received any expenses during this year or the previous year.

Trustee remuneration and benefits Name of trustee Legal authority Jennifer Walton Governing document	2024 £ 4,606 4,606	2023 £ 4,199 4,199

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.

Wooldale Community Association

Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2024

2024 2023 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 405 355 Centre usage charges 23,368 21,792 Membership 48 43 Clothing sales 187 198 Investment income 1,154 1,211 Building Society interest 519 311 Total income 25,681 23,910 Expenditure Salaries and NIC 6,773 6,175 Water rates 973 601 Utilities 7,315 3,356 Repairs and maintenance 231 8,060 Printing, postage and stationery 138 168 Telephone 203 457 Advertising and publicity 188 121 Sundry expenses 313 799 Insurance 1,427 1,502 Cleaning 1,300 1,030 Licences 146 256 Independent examination 924 803 Depreciation 3,002 1,284 Total expenditure 22,933 24,612 Net gains/(losses) on investments 3,263 (2,328) Net income / (expenditure) 6,011 (3,030) Transfers between funds 10,000 590 Net movement in funds 16,011 (2,440) Fund balances brought forward 70,364 72,804 Fund balances carried forward 86,375 70,364	2024 Restricted funds £ - - - - - - - - - - - - - - - - - - - 4,000 4,000 - (4,000) (10,000) (14,000) 232,000 218,000	2023 Restricted funds £ 10,590 - - - - - 10,590 - - - - - - - - - - - - 4,000 4,000 6,590 (590) 6,000 226,000 232,000	2024 Total funds £ 405 23,368 48 187 1,154 519 25,681 6,773 973 7,315 231 138 203 188 313 1,427 1,300 146 924 7,002 26,933 3,263 2,011 - 2,011 302,364 304,375	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