Charity Registration No. 1159454
ABBEYDALE COMMUNITY ASSOCIATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021
ABBEYDALE COMMUNITY ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr B Lyall Ms J Haworth Mr M Brunsdon Mr C Newman (Appointed 19 October 2020) Ms L Armstrong (Appointed 24 September 2021)
Charity number 1159454 Principal address Abbeydale Sports & Community Centre Glevum Way Abbeydale Gloucester United Kingdom GL4 4BL Independent examiner Katherine Parkin FCA Azets Audit Services Pillar House 113-115 Bath Road Cheltenham Gloucestershire United Kingdom GL53 7LS Bankers Lloyds Bank Plc 19 Eastgate Street Gloucester United Kingdom GL1 1NU
ABBEYDALE COMMUNITY ASSOCIATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 - 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 19 |
ABBEYDALE COMMUNITY ASSOCIATION
TRUSTEES' REPORT FOR THE YEAR ENDED 28 FEBRUARY 2021
The Trustees present their report and financial statements for the year ended 28 February 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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 2019)".
Objectives and activities
The objects of the CIO are:
To promote the benefit of the inhabitants of Abbeydale and the neighbourhood (hereinafter called the area of benefit) without distinction of sex, sexual orientation, race or of political, religious or other opinions.
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To associate together with the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interest of social welfare for the recreation and leisure time occupation with the object of improving the conditions of life for the said inhabitants.
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To secure the already existing community centre and to maintain and manage the same (whether alone or in cooperation with any local authority or other person or body) in furtherance of these objects.
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To promote such other charitable purposes as may from time to time be determined.
The Association shall be non-party in politics and non-sectarian in religion.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Centre Facilities
During 2020-21, the Centre followed Government guidelines in response to the COVID-19 pandemic. At various points during this time, the Centre was either in complete closure or was open with a variety of specific restrictions. The Centre carried out a full COVID-19 risk assessment which was updated regularly in order for Trustees to make appropriate decisions regarding opening, allowable activities, cleaning and procedures for visitors. This included the implementation of the NHS Test and Trace system, providing additional cleaning equipment for user groups, instigating one-way systems and social distancing measures, preventing group crossovers, limiting visitor user numbers depending on room sizes and activity, and limiting types of activities.
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ABBEYDALE COMMUNITY ASSOCIATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2021
Art/Music
Arts and music were negatively affected by the pandemic. One choir group did make use of our outside space. A music/support group for young children and their parents/carers re-opened when restrictions allowed. The Centre arranged online photography competitions for local people, encouraging creative flare and social connection through the height of lockdown.
Community and local links
The Centre has maintained a close and cooperative relationship with Gloucester City Council with whom it works supportively as a venue for meetings and consultations and as a designated local emergency centre. The Council’s social care department used the Centre for contact meetings when restrictions did not allow them to use their own meeting rooms or enter the houses of the participants. The Centre hosted space for the government’s free school meals holiday scheme whereby local parents/carers could come and collect essential food from the Centre.
The Centre’s suberb grounds were also maintained and utilised throughout the pandemic, providing walking areas for local people and as space for a singing group.
The Centre’s outside area was an ideal place to host a health drop-in scheme in conjunction with the local NHS GP practice when this could not take place indoors safely. This is something which may continue beyond the pandemic.
Being not able to continue at their normal venues, a local church group hired the Centre when restrictions allowed their activity as well as several groups who normally use local schools as their meeting venue.
Youth and young people
Many youth activities were halted during the pandemic, but gradually returned when allowed, including football groups and parent and child groups.
Abbeydale Playgroup continued to operate when allowed in accordance with education sector guidelines.
Sports Facility
The artificial 3G training pitch was an important asset to Centre in this year, providing an organised outside area for both adults and children to exercise and socialise safely when it was allowed. Having committed in the previous financial year to re-surfacing the pitch, we went ahead with this plan as soon as it was safe to do so and it was completed in August 2020. Existing hirers were encouraged to return and helped to do so safely. A few new groups made bookings for the pitch too.
Indoor sports
Indoor sports were negatively affected by the pandemic restrictions. Some children’s groups returned when allowed but some organisers chose to wait until further restrictions were lifted. Groups were encouraged to return, being offered COVID-19 safety advice and also financial incentives – for example, being able to hire 2 adjoining rooms for the price of one in order to facilitate social distancing.
Celebration functions
Unfortunately, due to restrictions on activities and group sizes, most celebration functions were not able to go ahead during this time. When restrictions eased slightly, rooms were hired for some smaller (immediate family/support bubble) events and, later, wakes.
Education, Training and Conference events
With many businesses operating remotely during the pandemic, the Centre was not used widely for training and conferences. Many businesses were still choosing to operate remotely after some restrictions were eased and therefore chose not to resume their use of the Centre rooms. Corporate clients make up an important part of our customer base and we will be continuing to encourage the safe return of these users.
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ABBEYDALE COMMUNITY ASSOCIATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2021
Centre Operation
With most Centre staff on furlough through a large proportion of the pandemic, the volunteer Trustees took over the administration and day to day operation of the Centre. As soon as sufficient restrictions were lifted, staff were re-introduced gradually following appropriate consultation and suitable training and with financial assistance from the Government’s Job Retention Scheme.
Communications with user groups were maintained via email and with the general public through the website and social media.
Business and marketing strategies have had to be re-assessed on a regular basis to match the changing restrictions and will now be adjusted again to re-build the customer base and make use of any inadvertent positive outcomes from the pandemic.
The Caretaker has been working throughout the pandemic to maintain health and safety practises and an appropriate standard of presentation for the site. Cleaning was taken in-house during much of the pandemic as a response to the level of use of the Centre.
ACA Enterprises Ltd – Our Subsidiary Trading Company
The trading company reopened Phoenix Café Bar in July 2020 and followed the strictest level of guidance with regards to COVID-19 health and safety. Members of the public were initially welcomed with inside table service and takeaway options within limited hours, gradually increasing service levels as restrictions were lifted. The trading company used the Eat-Out-to-Help-Out scheme in August 2020 and was then forced to close in November for lockdown 2 and did not reopen before the end of the financial year. Happily, since May 2021, the trading company has restarted activities too. During the pandemic there has been lots of activity looking at trading company costs and product pricing with the aim of achieving a sustainable profit. We have started along this route since we have reopened, helped by the reduced VAT scheme currently in place.
As with the Charity the trading company used the HMRC Coronavirus Job Retention Scheme to furlough employees. This process continued until at a very low level until end September 2021.
Maintenance
CCTV continued to operate 24hrs per day and open and regular communications between users, staff and Trustees ensured the protection of the building. A schedule of checks was drawn up whilst the Centre was not in use, which was shared between the Caretaker and volunteer Trustees, and the local PCSOs and City Councillors also checked on the building and offered support.
The outside areas were fully maintained. Information boards inside and outside the Centre were emptied of any non-essential information to discourage users and passers-by from forming groups or blocking pathways.
Abbeydale Community Association believes in ‘Making A Difference’ to benefit all members of the local community.
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ABBEYDALE COMMUNITY ASSOCIATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2021
Financial review
As with almost all organisations, the impact of Covid-19 has defined our financial performance during the year. The Charity has made a trading loss for the first time ever. The good news though is that we have survived.
On 21 March 2020 the Charity closed the centre as instructed by HM Government. Since then, the Charity and our trading company have opened when able as Covid-19 Secure premises to provide allowable services. For the Charity this meant starting with some use of the Artificial Training Pitch in June 2020 and this facility, being outside, proved to be a resilient source of some income during the pandemic. Indoor activities only managed to restart tentatively in September 2020 with later interruptions during lockdown 2 and 3. The trading company reopened Phoenix Café Bar in July 2020, used the Eat-out-to-help-out scheme in August 2020, and was then forced to close in lockdown 2 and did not reopen before the end of the financial year. Happily following the restart plan in March 2021, the Charity has progressively reopened the centre for activities as restrictions have eased. Likewise, since May 2021, the trading company has restarted activities too. Revenue for both is encouraging.
During the financial year we applied for all the business support grants available, and we are grateful to Gloucester City Council for their swift administration of central government grant aid. We cut out all expenditure that was not needed whilst the centre was closed. Both the Charity and the trading company used the HMRC Coronavirus Job Retention Scheme to furlough employees. We protected our cashflow for both the Charity and the trading company by taking out small Bounce Back Loans in June 2020. The Charity’s intention is to pay this back as soon as sensible before the end of the current financial year.
The Artificial Training Pitch surface was replaced, as envisaged, in August 2020 (manufacturing in Belgium was already in progress in March 2020).
Payments from our business interruption insurance for infectious disease closure were finally resolved in July 2021. The small payment to the trading company was used to pay off a small amount of the loan from the Charity.
The Charity was pleased to win several Grants during the financial year. A grant for Artzone (Gloucester City Council) to support free art and craft classes for juniors and seniors. These sessions have now started in September 2021. We won a grant to help update the IT infrastructure within the Centre (Gloucestershire County Council), including WiFi capabilities and this will be implemented as soon as possible. We also won a small grant (Gloucestershire County Council) to provide additional funding to replace wheels on the goals used on the Artificial Training Pitch.
We are confident of the prospects for both the Charity and the trading company once we emerge fully from the
Covid-19 pandemic. Clearly there is still some uncertainty about the winter ahead.
We maintain a policy of constantly trying to build up financial reserves to help both fund future liabilities, cope with the inevitable unplanned repairs and renewals and to help fund our expansion vision for the future with improved facilities for our users in our area of benefit. The ATP half-size pitch replacement completed in August 2020 was just such a project. We are proud of our record as operating as a successful independent community centre within Gloucester since 1985.
Reserves policy
The ACA Board of Trustees has considered the continued activities and life of the Charity.
The ACA Board of Trustees are very aware that the continued existence of the Charity is to some extent dependent on the level of funds held and as such a concerted effort is always being made to add to these funds on an annual basis going forward.
Clearly once the Covid-19 crisis has finally subsided we will try to replenish our reserves quickly.
The Trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
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ABBEYDALE COMMUNITY ASSOCIATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2021
After the year end the Charity has agreed to write off the outstanding rent owed by the trading company, ACA Enterprises Limited, during its difficult period from the 2019/2020 financial year. Refer to the Events after the reporting date note for further details.
Structure, governance and management
The charity is a Charitable Incorporated Organisation controlled by its constitution which is dated 25 August 2014.
The Trustees who served during the year and up to the date of signature of the financial statements were: Mr B Lyall Ms J Haworth Mr J Perkins (Resigned 18 August 2021) Mr M Brunsdon Mr C Lavis (Resigned 26 April 2020) Mr R Mayo (Appointed 2 March 2020 and resigned 24 July 2020) Mrs L Curtis (Appointed 21 September 2020 and resigned 3 January 2021) Mr C Newman (Appointed 19 October 2020) Ms L Armstrong (Appointed 24 September 2021) Mr A Keene (Appointed 24 September 2021 and resigned 5 October 2021)
Appointment of charity trustees
The CIO Governing document states:
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(1) Apart from the first charity trustees, every trustee must be appointed for a term of at least one year by a resolution passed at a properly convened meeting of the charity trustees.
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(2) In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
The Trustees' report was approved by the Board of Trustees.
Mr B Lyall
Trustee Dated: 13 December 2021
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ABBEYDALE COMMUNITY ASSOCIATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ABBEYDALE COMMUNITY ASSOCIATION
I report to the Trustees on my examination of the financial statements of Abbeydale Community Association (the charity) for the year ended 28 February 2021.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements 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 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
Katherine Parkin FCA Azets Audit Services Pillar House 113-115 Bath Road Cheltenham Gloucestershire GL53 7LS United Kingdom
Dated: .........................
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ABBEYDALE COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 28 FEBRUARY 2021
| Current financial year Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income from: Donations and legacies 2 39,694 10,524 Charitable activities Rent of rooms 3 14,201 - Rent of sports facilities 3 16,038 - Investments 4 - - Total income 69,933 10,524 Expenditure on: Charitable activities Facilities running costs 5 144,433 - Total charitable expenditure 144,433 - Net (expenditure)/income for the year/ Net movement in funds (74,500) 10,524 Fund balances at 1 March 2020 140,283 3,469 Fund balances at 28 February 2021 65,783 13,993 |
Total 2021 £ 50,218 14,201 16,038 - 80,457 144,433 144,433 (63,976) 143,752 79,776 |
Total 2020 £ 42 121,110 42,340 395 |
|---|---|---|
| 163,887 | ||
| 137,776 | ||
| 137,776 | ||
| 26,111 117,641 |
||
| 143,752 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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ABBEYDALE COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2021
Prior financial year
| Unrestricted Restricted funds funds 2020 2020 Notes £ £ Income from: Donations and legacies 2 42 - Charitable activities Rent of rooms 3 121,110 - Rent of sports facilities 3 42,340 - Investments 4 395 - Total income 163,887 - Expenditure on: Charitable activities Facilities running costs 5 137,776 - Total charitable expenditure 137,776 - Net (expenditure)/income for the year/ Net movement in funds 26,111 - Fund balances at 1 March 2019 114,172 3,469 Fund balances at 29 February 2020 140,283 3,469 |
Total 2020 £ 42 121,110 42,340 395 |
|---|---|
| 163,887 | |
| 137,776 | |
| 137,776 | |
| 26,111 117,641 |
|
| 143,752 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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ABBEYDALE COMMUNITY ASSOCIATION
BALANCE SHEET
AS AT 28 FEBRUARY 2021
| Notes Fixed assets Investments 8 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 12 Net assets Income funds Restricted funds 15 Unrestricted funds |
2021 £ 75,856 29,350 105,206 (8,098) |
£ 1 97,108 97,109 (17,333) 79,776 13,993 65,783 79,776 |
2020 £ 82,719 68,533 151,252 (7,501) |
£ 1 143,751 |
|---|---|---|---|---|
| 143,752 - |
||||
| 143,752 | ||||
| 3,469 140,283 |
||||
| 143,752 |
The financial statements were approved by the Trustees on 13 December 2021
Mr B Lyall Trustee
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ABBEYDALE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021
1 Accounting policies
Charity information
Abbeydale Community Association is a Charitable Incorporated Organisation registered in England and Wales. The registered office is Abbeydale Sports & Community Center, Glevum Way, Abbeydale, Gloucester, Gloucestershire, GL4 4BL, England.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "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 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for smaller charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include investments at market value. The principal accounting policies adopted are set out below.
The financial statements contain information about Abbeydale Community Association as an individual entity and do not contain consolidated financial information as the parent of ACA Enterprises Limited. Exemption has been taken not to prepare consolidated financial statements in accordance with the Charities SORP (FRS 102) given group income is less than £500,000.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
As described further in the Trustees' Report, the Trustees are confident that they have taken the necessary steps to manage the ongoing short-term reduction in operations of the charity and its subsidiary company in light of the Covid-19 pandemic and have taken the appropriate actions to respond to this issue. Furthermore, the Trustees believe the charity is well placed to return to its full operating capacity once the Covid-19 situation is brought under control and current restrictions imposed by the UK Government are lifted.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
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ABBEYDALE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2021
1 Accounting policies
(Continued)
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Income from government and other grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
1.5 Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Irrecoverable VAT is charged against the category of resources expended for which it is incurred.
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8 Financial instruments
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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ABBEYDALE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2021
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.9 Provisions
Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.
1.10 Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.11 Taxation
The charity is exempt from corporation tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to the charitable objects.
1.12 Government Grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability
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ABBEYDALE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2021
2 Donations and legacies
| Unrestricted Restricted funds funds 2021 2021 £ £ Donations and gifts 477 - Government grants 39,217 10,524 39,694 10,524 Grants receivable for core activities Coronavirus Job Retention Scheme 19,629 - GCC - various Covid related grants 19,588 - GCC - Growing Our Communities - 6,000 GCC - Thriving Communities - 4,524 39,217 10,524 |
Total Unrestricted funds 2021 2020 £ £ 477 42 49,741 - 50,218 42 19,629 - 19,588 - 6,000 - 4,524 - 49,741 - |
Total Unrestricted funds 2021 2020 £ £ 477 42 49,741 - 50,218 42 19,629 - 19,588 - 6,000 - 4,524 - 49,741 - |
|---|---|---|
| 42 | ||
| - - - - |
||
| - |
3 Charitable activities
| Rent of rooms Rent of sports facilities 2021 2021 £ £ Charitable rental income 14,201 16,038 Investments |
Rent of rooms Rent of sports facilities 2021 2021 £ £ Charitable rental income 14,201 16,038 Investments |
Rent of rooms Rent of sports facilities 2021 2021 £ £ Charitable rental income 14,201 16,038 Investments |
Total 2021 Rent of rooms Rent of sports facilities Total 2020 2020 2020 £ £ £ £ 30,239 121,110 42,340 163,450 Total Unrestricted funds 2021 2020 £ £ - 395 |
Total 2020 £ 163,450 |
|---|---|---|---|---|
| Interest - deposits |
4 Investments
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ABBEYDALE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2021
5 Charitable activities
| Facilities running costs Facilities running costs 2021 2020 £ £ Staff costs 43,998 49,291 Rates and water 281 3,504 Insurance 11,276 10,587 Light and heat 13,121 18,707 Administration and telephone 5,163 8,163 Cleaning 1,457 15,035 Repairs and maintenance 66,266 24,346 Sundries (1,754) 6,369 Accountancy 637 - Independent examiner fees 1,488 1,584 Interest payable and similar charges - 190 Donations made 2,500 - 144,433 137,776 144,433 137,776 |
Facilities running costs Facilities running costs 2021 2020 £ £ Staff costs 43,998 49,291 Rates and water 281 3,504 Insurance 11,276 10,587 Light and heat 13,121 18,707 Administration and telephone 5,163 8,163 Cleaning 1,457 15,035 Repairs and maintenance 66,266 24,346 Sundries (1,754) 6,369 Accountancy 637 - Independent examiner fees 1,488 1,584 Interest payable and similar charges - 190 Donations made 2,500 - 144,433 137,776 144,433 137,776 |
Facilities running costs Facilities running costs 2021 2020 £ £ Staff costs 43,998 49,291 Rates and water 281 3,504 Insurance 11,276 10,587 Light and heat 13,121 18,707 Administration and telephone 5,163 8,163 Cleaning 1,457 15,035 Repairs and maintenance 66,266 24,346 Sundries (1,754) 6,369 Accountancy 637 - Independent examiner fees 1,488 1,584 Interest payable and similar charges - 190 Donations made 2,500 - 144,433 137,776 144,433 137,776 |
|---|---|---|
| 2021 £ 43,998 281 11,276 13,121 5,163 1,457 66,266 (1,754) 637 1,488 - 2,500 144,433 144,433 |
2020 £ 49,291 3,504 10,587 18,707 8,163 15,035 24,346 6,369 - 1,584 190 - |
|
| 137,776 | ||
| 137,776 |
Governance costs totalling £2,125 (2020: £1,584) are included within expenditure on charitable activities. This includes £1,488 (2020: £990) payable to the Independent Examiner for Independent Examination and £624 (2020: £594) payable to the Independent Examiner for other accountancy services provided.
6 Trustees
None of the Trustees received any remuneration, benefits or reimbursed expenses from the charity during the year (2020: £nil). In the prior year, one person connected with a Trustee received remuneration of £12,112.
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ABBEYDALE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2021
7 Employees
The average monthly number of employees during the year was:
| 2021 | 2020 | |
|---|---|---|
| Number | Number | |
| Sports Supervisors | 2 | 2 |
| Administration | 6 | 7 |
| Total | 8 | 9 |
| Employment costs | 2021 | 2020 |
| £ | £ | |
| Wages and salaries | 43,936 | 49,291 |
| Other pension costs | 62 | - |
| 43,998 | 49,291 |
There were no employees whose annual remuneration was £60,000 or more.
8 Fixed asset investments
| Other | |||
|---|---|---|---|
| investments | |||
| Cost or valuation | |||
| At 1 March 2020 & 28 February 2021 | 1 | ||
| Carrying amount | |||
| At 28 February 2021 | 1 | ||
| At 29 February 2020 | 1 | ||
| 2021 | 2020 | ||
| Other investments comprise: | Notes | £ | £ |
| Investments in subsidiaries | 9 | 1 | 1 |
There were no investment assets outside the UK.
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ABBEYDALE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2021
9 Subsidiaries
These financial statements are separate charity financial statements for Abbeydale Community Association.
Details of the charity's subsidiaries at 28 February 2021 are as follows:
| Name of undertaking | Registered | Nature of business | Class of | % Held |
|---|---|---|---|---|
| office | shares held | Direct Indirect | ||
| ACA Enterprises Limited | UK | Provision of bar and | Ordinary | 100.00 |
| hospitality services | voting |
The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows:
| Name of undertaking Profit/(Loss) Capital and Reserves £ £ ACA Enterprises Limited (15,801) (82,057) The investments in subsidiaries are all stated at cost. 10 Debtors Amounts falling due within one year: Trade debtors Amounts falling due after more than one year: Amounts owed by subsidiary undertakings Total debtors |
||
|---|---|---|
| 2021 £ 1,676 2021 £ 74,180 75,856 |
2020 £ 12,039 |
|
| 2020 £ 70,680 |
||
| 82,719 |
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ABBEYDALE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2021
| 11 Creditors: amounts falling due within one year Notes Bank loans 13 Other taxation and social security Trade creditors Other creditors Accruals and deferred income 12 Creditors: amounts falling due after more than one year Notes Bank loans 13 13 Loans and overdrafts Bank loans Payable within one year Payable after one year Amounts included above which fall due after five years: Payable by instalments |
2021 £ 2,667 550 1,777 17 3,087 8,098 2021 £ 17,333 2021 £ 20,000 2,667 17,333 1,333 |
2020 £ - 455 3,945 14 3,087 |
|---|---|---|
| 7,501 | ||
| 2020 £ - |
||
| 2020 £ - |
||
| - - |
||
| - |
During the year ended 28 February 2021, the charity entered into a coronavirus Bounce Back Loan Scheme (BBLS) with a loan of £20,000, of which £2,667 is in current liabilities and £17,333 is in noncurrent liabilities. Interest is charged at 2.5% with the final instalment due in June 2026.
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ABBEYDALE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2021
14 Unrestricted funds
These are unrestricted funds which are material to the charity's activities made up as follows:
| Movement in funds | Movement in funds | Movement in funds | Movement in funds | |||||
|---|---|---|---|---|---|---|---|---|
| Balance at | Incoming | Resources |
Balance at | Incoming | Resources |
Balance at | ||
| 1 | March 2019 | resources | expended | 1 March 2020 | resources | expended | 28 February | |
| 2021 | ||||||||
| £ | £ | £ | £ | £ | £ | £ | ||
| Unrestricted | ||||||||
| funds | 114,172 | 162,183 | (136,931) | 140,283 | 69,933 | (144,433) | 65,783 |
15 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement | Movement | ||||
|---|---|---|---|---|---|
| in funds | in funds | ||||
| Balance at | Incoming | Balance at | Incoming | Balance at | |
| 1 March 2019 | resources | 1 March 2020 | resources | 28 February | |
| 2021 | |||||
| £ | £ | £ | £ | £ | |
| Artzone | 3,469 | - | 3,469 | 4,524 | 7,993 |
| GCC - Growing Our Communities grant | - | - | - | 6,000 | 6,000 |
| 3,469 | - | 3,469 | 10,524 | 13,993 |
The Artzone fund represents grant income received from Gloucester City Council and Thriving Communities to fund the Artzone project, which supports creative art courses for young people.
The GCC Growing Our Communities grant supports projects and activities that will make a positive difference to local communities.
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ABBEYDALE COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2021
16 Analysis of net assets between funds
| Analysis of net assets between funds | ||
|---|---|---|
| Unrestricted funds Restricted funds 2021 2021 £ £ Fund balances at 28 February 2021 are represented by: Investments 1 - Current assets/ (liabilities) 83,115 13,993 Long term liabilities (17,333) - 65,783 13,993 |
Total Unrestricted funds Restricted funds 2021 2020 2020 £ £ £ 1 1 - 97,108 140,282 3,469 (17,333) - - 79,776 140,283 3,469 |
Total 2020 £ 1 143,751 - |
| 143,752 |
17 Events after the reporting date
Following the start of the Covid-19 pandemic in March 2020, operations of both the charity and its subsidiary company continue to be adversely impacted. Refer to the Trustees' Report for further details.
As a result of this, after the year end the charity agreed to write off £17,680 of the loan balance owed by its subsidiary company, ACA Enterprises Limited. This amount is currently included within amounts owed by subsidiary undertakings and disclosed in debtors: amounts falling due after more than one year.
18 Related party transactions
Transactions with related parties
During the year the charity charged rental costs of £nil (2020: £30,322) to its subsidiary ACA Enterprises Limited.
A further £3,500 in loan capital was extended to ACA Enterprises during the year and the amount due from ACA Enterprises Limited at the year end was £74,180 (2020: £70,680).
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