**Charity registration number 1159454**
## **ABBEYDALE COMMUNITY ASSOCIATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023**
## **ABBEYDALE COMMUNITY ASSOCIATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mr B Lyall Ms J Haworth Mr M Brunsdon Mr C Newman Ms L Armstrong Ms M Skelton (Appointed 12 December 2022) **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 Epsilon House The Square Gloucester United Kingdom GL3 4AD **Bankers** Lloyds Bank Plc 19 Eastgate Street Gloucester Gloucestershire United Kingdom GL1 1NU
## **ABBEYDALE COMMUNITY ASSOCIATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5 - 6|
|Balance sheet|7|
|Notes to the financial statements|8 - 17|
## **ABBEYDALE COMMUNITY ASSOCIATION**
## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_
The Trustees present their annual report and financial statements for the year ended 28 February 2023.
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.
- 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.
- 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.
- 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.
## **Achievements and performance**
## **Centre Operation**
Our core team of staff operate the Centre on a day-to-day basis, overseen by the Board of Trustees. The team is made up of 3 Centre Administrators, a Site Maintenance Officer and a Financial Administrator.
Communications with user groups and the public are maintained through noticeboards, a website, email and social media.
## **Centre Facilities**
During 2022-23, the Centre’s hireable spaces remained the same. The variety of the spaces available is a great asset to the Centre, with a Main Hall, Studio room, exercise/multi-function room, meeting gallery, catering kitchen, floodlit artificial sports pitch, changing rooms and on-site Café Bar.
A successful grant bid provided funds to upgrade the WiFi service and IT infrastructure and the project is now complete. In this and the next few years, the Trustees will be looking to improve the sustainability of the Centre by focusing on improving energy efficiency and reducing environmental impact. A sustainability survey by an external agency was commissioned to begin this process.
## **Hireable Spaces**
The bulk of the Charity’s income is generated through rent of the Centre’s hireable spaces. In line with its objectives, the Centre has had a wide variety of hirers this year, including those offering leisure, entertainment, sport and education to the local community. The range of rooms and spaces has offered flexibility to host indoor and outdoor sports and exercise (e.g. football, yoga, Zumba and ballroom dancing); business meetings, conferences and training; youth activities (such as martial arts and Scouting Association) and pre-school groups.
The Charity has continued to work closely with Abbeymead Rovers Football club, one of the largest football clubs in the South West. The Charity is proud to support this successful community organisation which provides competitive and social group sessions for boys, girls, adults, walking and inclusive football.
Of course, the spaces have also been used this year to provide the community with central and quality premises to hold important private occasions including wakes, weddings, birthdays and Christenings.
- 1 -
## **ABBEYDALE COMMUNITY ASSOCIATION**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_
## **Charitable Activities**
Abbeydale Community Association continues to deliver and participate in the programmes and partnerships relating to its charitable aims and objectives.
As well as providing clean and quality spaces for hire which locals use for a wide variety of purposes, the Centre organises some of its own events. With a surplus Council Grant, Artzone returned to the Centre once again, offering free art sessions to children and adults. The regular Craft Market supports local small businesses and crafts people. Free entertainment is available for the local community via events run by the Phoenix Café Bar.
The Charity 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 Centre supported the Government’s HAP/HAF project run by a local church group. Strong relationships with local PCSOs and City and County Councillors have also worked well to uphold the security of the Centre and push the Charity forward as a hub for the community. The Charity also continued its positive working relationships with local schools, churches and the nearby doctors’ surgery.
## **Phoenix Café Bar facility**
The Charity’s trading subsidiary, Phoenix Café Bar (ACA Enterprises Ltd), has retained its popularity in 2022-23, and continues to pay a regular (monthly) rent to the Charity. In addition, the subsidiary and the Charity are increasingly working together to achieve the aims of the Charity: the Phoenix Café Bar organises community events such as family disco evenings, provides food and drink services for parties and business meetings, and also welcomes community groups such as a coffee group.
## **Financial review**
A difficult year financially for the Charity and our Trading Company.
The Charity income was up on the previous year but lower than anticipated mainly due to the unexpected loss of Abbeydale Playgroup as a hirer in July. We decided coming out of Covid to maintain room rental rates to try to encourage more hirers to return and new hirers to start up and we had some success with this attracting amongst others, a variety of pre-school groups offering various Stay and Play type activities. Our Artificial Training Pitch proved popular, and revenue was up. However higher than expected unplanned and expensive maintenance expenditure for the building, increased energy and contract cleaning costs has meant we recorded a significant loss for the year overall. We are addressing these issues in the current financial year.
We improved the Wi-Fi and overall IT infrastructure within the building during the year funded by a grant received
in the previous years from Gloucestershire County Council.
ACA Enterprises Ltd, our trading company started the year well and overall we saw higher sales than the previous year. However sales tailed off more than seen previously in the autumn when the constant media message of higher energy prices hurt demand. Together with higher staff costs needed to retain staff and poor supervision of stock and high wastage over several months this meant there was higher than anticipated costs. This was rectified in December when a new manager was appointed. We are doing our best to increase sales further but rein in the costs wherever possible.
Despite the poor trading results we are confident of the prospects for both the Charity and the trading company. 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. 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.
- 2 -
## **ABBEYDALE COMMUNITY ASSOCIATION**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_
## **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 M Brunsdon Mr C Newman Ms L Armstrong Mrs Claire Owen-Pockett (Appointed 25 April 2022 and resigned 18 October 2022) Ms M Skelton (Appointed 12 December 2022)
## **Appointment of charity trustees**
The CIO Governing document states:
(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.
- (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: 4 December 2023
- 3 -
## **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 2023.
## **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:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 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 Epsilon House The Square Gloucester Business Park Gloucester GL3 4AD United Kingdom
Dated: 7 December 2023
- 4 -
## **ABBEYDALE COMMUNITY ASSOCIATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_
|**Current financial year**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**2**
522
-
Charitable activities
Rent of rooms
**3**
79,760
-
Rent of sports facilities
**3**
59,031
-
Other income
**4**
5,571
-
**Total income**
144,884
-
**Expenditure on:**
Charitable activities
Facilities running costs
**5**
149,624
-
Development of community facilities
**5**
-
7,952
**Total charitable expenditure**
149,624
7,952
**Net (expenditure)/income for the year/**
**Net movement in funds**
(4,740)
(7,952)
Fund balances at 1 March 2022
100,237
11,527
**Fund balances at 28 February 2023**
95,497
3,575|**Total**
**2023**
**£**
522
79,760
59,031
5,571
144,884
149,624
7,952
157,576
(12,692)
111,764
99,072|**Total**
**2022**
**£**
22,976
63,536
50,582
15,622|
|---|---|---|
|||152,716|
|||118,262
2,466|
|||120,728|
|||31,988
79,776|
|||111,764|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 5 -
## **ABBEYDALE COMMUNITY ASSOCIATION**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_
## **Prior financial year**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**2**
22,976
-
Charitable activities
Rent of rooms
**3**
63,536
-
Rent of sports facilities
**3**
50,582
-
Other income
**4**
15,622
-
**Total income**
152,716
-
**Expenditure on:**
Charitable activities
Facilities running costs
**5**
118,262
-
Development of community facilities
**5**
-
2,466
**Total charitable expenditure**
118,262
2,466
**Net (expenditure)/income for the year/**
**Net movement in funds**
34,454
(2,466)
Fund balances at 1 March 2021
65,783
13,993
**Fund balances at 28 February 2022**
100,237
11,527|**Total**
**2022**
**£**
22,976
63,536
50,582
15,622|
|---|---|
||152,716|
||118,262
2,466|
||120,728|
||31,988
79,776|
||111,764|
- 6 -
## **ABBEYDALE COMMUNITY ASSOCIATION**
## **BALANCE SHEET**
## _**AS AT 28 FEBRUARY 2023**_
|**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**
**Income funds**
Restricted funds
**12**
Unrestricted funds
Designated funds
**14**
General unrestricted funds|**2023**
**£**
90,818
20,110
110,928
(11,857)
10,961
84,536|**£**
1
99,071
99,072
3,575
95,497
99,072|**2022**
**£**
85,506
36,209
121,715
(9,952)
5,058
95,179|**£**
1
111,763|
|---|---|---|---|---|
|||||111,764|
|||||11,527
100,237|
|||||111,764|
The financial statements were approved by the Trustees on 4 December 2023
Mr B Lyall **Trustee**
- 7 -
**ABBEYDALE COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_
## **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 rising costs and subsequent losses of the charity and its subsidiary company and have taken the appropriate steps to respond to this issue. Furthermore, the Trustees believe the charity is well placed to return to a surplus position.
## **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.
- 8 -
## **ABBEYDALE COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_
## **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.
## _**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.
- 9 -
**ABBEYDALE COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_
## **1 Accounting policies**
**(Continued)**
## _**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 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.12 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.
## **1.13 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.
- 10 -
## **ABBEYDALE COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_
## **2 Donations and legacies**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2023**|2022|
||**£**|£|
|Donations and gifts|522|857|
|Government grants|-|22,119|
||522|22,976|
|**Grants receivable for core activities**|||
|Coronavirus Job Retention Scheme|-|11,571|
|GCC - various Covid related grants|-|9,764|
|GCC - Community thank you grant|-|784|
||-|22,119|
## **3 Charitable activities**
|**Rent of rooms Rent of sports**
**facilities**
**2023**
**2023**
**£**
**£**
Charitable rental
income
79,760
59,031
**Other income**
Other income|**Total**
**2023**
**Rent of rooms Rent of sports**
**facilities**
**Total**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**£**
138,791
63,536
50,582
114,118
**Unrestricted**
Unrestricted
**funds**
funds
**2023**
2022
**£**
£
5,571
15,622|**Total**
**2022**
**£**
114,118|
|---|---|---|
## **4 Other income**
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## **ABBEYDALE COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_
## **5 Charitable activities**
|**Facilities**
**running**
**costs**
**Development**
**of community**
**facilities**
**2023**
**2023**
**£**
**£**
Staff costs
38,058
-
Rates and water
3,704
-
Insurance
13,787
-
Light and heat
18,984
-
Administration and
telephone
4,436
-
Cleaning
11,223
-
Repairs and
maintenance
49,833
-
Sundries
6,977
-
Artzone
-
2,708
Accountancy
2,032
-
Independent examiner
fees
590
-
GCC Growing
Communities
-
5,244
149,624
7,952
149,624
7,952
**Analysis by fund**
Unrestricted funds
149,624
-
Restricted funds
-
7,952
149,624
7,952|**Total**
**2023**
**Facilities**
**running**
**costs**
**Development**
**of community**
**facilities**
**2022**
**2022**
**£**
**£**
**£**
38,058
46,667
-
3,704
1,984
-
13,787
8,249
-
18,984
10,542
-
4,436
5,075
-
11,223
6,831
-
49,833
32,431
-
6,977
4,533
-
2,708
-
2,466
2,032
1,308
-
590
642
-
5,244
-
-
157,576
118,262
2,466
157,576
118,262
2,466
149,624
118,262
-
7,952
-
2,466
157,576
118,262
2,466|**Total**
**2022**
**£**
46,667
1,984
8,249
10,542
5,075
6,831
32,431
4,533
2,466
1,308
642
-|
|---|---|---|
|||120,728|
|||120,728|
|||118,262
2,466|
|||120,728|
Governance costs totalling £2,622 (2022: £1,950) are included within expenditure on charitable activities. This includes £2,032 (2022: £1,308) payable to the Independent Examiner for Independent Examination and £590 (2022: £642) 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 (2022: £nil).
- 12 -
## **ABBEYDALE COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_
## **7 Employees**
The average monthly number of employees during the year was:
||**2023**|**2022**|
|---|---|---|
||**Number**|**Number**|
|Administration|6|9|
|**Employment costs**|**2023**|**2022**|
||**£**|**£**|
|Wages and salaries|37,858|46,269|
|Social security costs|-|276|
|Other pension costs|200|122|
||38,058|46,667|
There were no employees whose annual remuneration was £60,000 or more.
## **8 Fixed asset investments**
||||**Other**|
|---|---|---|---|
||||**investments**|
|**Cost or valuation**||||
|At 1 March 2022 & 28 February 2023|||1|
|**Carrying amount**||||
|At 28 February 2023|||1|
|At 28 February 2022|||1|
|||**2023**|**2022**|
|Other investments comprise:|**Notes**|**£**|**£**|
|Investments in subsidiaries|**9**|1|1|
There were no investment assets outside the UK.
- 13 -
## **ABBEYDALE COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_
## **9 Subsidiaries**
These financial statements are separate charity financial statements for Abbeydale Community Association.
Details of the charity's subsidiaries at 28 February 2023 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 hospitality|
Ordinary|100.00|
|||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|(16,698)|(78,438)|
The investments in subsidiaries are all stated at cost.
## **10 Debtors**
|**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**Amounts falling due after more than one year:**
Amounts owed by subsidiary undertakings
**Total debtors**|**2023**
**£**
18,572
420
4,461
23,453
**2023**
**£**
67,365
90,818|**2022**
**£**
13,681
-
4,460|
|---|---|---|
|||18,141|
|||**2022**
**£**
67,365|
|||85,506|
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## **ABBEYDALE COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_
## **11 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
|Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2023**
**£**
143
8,494
133
3,087
11,857|**2022**
**£**
1,007
5,587
271
3,087|
|||9,952|
## **12 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:
||**Balance at**|**Resources**|**Balance at**|**Resources**|**Balance at**|
|---|---|---|---|---|---|
||**1 March 2021**|**expended**|**1 March 2022**|**expended**|**28 February**|
||||||**2023**|
||**£**|**£**|**£**|**£**|**£**|
|Artzone|7,993|(2,466)|5,527|(2,708)|2,819|
|GCC - Growing Our Communities grant|6,000|-|6,000|(5,244)|756|
||13,993|(2,466)|11,527|(7,952)|3,575|
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 2023**_
## **13 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**|**Transfers**|**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**|
||**1**|**March 2021**|**resources**|**expended**||**1 March 2022**|**resources**|**expended**||**28 February**|
|||||||||||**2023**|
|||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|Unrestricted funds||65,783|152,716|(118,262)|(5,058)|95,179|144,634|(149,374)|(5,903)|84,536|
- 16 -
## **ABBEYDALE COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_
## **14 Designated funds**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
|**Balance at**
**1 March 2021**
**£**
Designated funds
-
-|**Transfers**
**Balance at**
**1 March 2022**
**£**
**£**
5,058
5,058
5,058
5,058|**Transfers**
**Balance at**
**28 February**
**2023**
**£**
**£**
5,903
10,961
5,903
10,961|**Transfers**
**Balance at**
**28 February**
**2023**
**£**
**£**
5,903
10,961
5,903
10,961|
|---|---|---|---|
||||10,961|
Designated funds relate to amounts set aside by the Trustees for the future replacement of the Astroturf pitch.
## **15 Analysis of net assets between funds**
|**Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**£**
**£**
Fund balances at 28
February 2023 are
represented by:
Investments
1
-
Current assets/(liabilities)
95,496
3,575
95,497
3,575|**Total**
Unrestricted
funds
Restricted
funds
**2023**
2022
2022
**£**
£
£
1
1
-
99,071
100,236
11,527
99,072
100,237
11,527|Total
2022
£
1
111,763|
|---|---|---|
|||111,764|
## **16 Related party transactions**
## **Transactions with related parties**
During the year the charity charged rental costs of £6,000 (2022: £3,000) to its subsidiary ACA Enterprises Limited.
No further loan capital was extended to ACA Enterprises during the year and the total amount due from ACA Enterprises Limited at the year end was £67,365 (2022: £67,365).
- 17 -