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← Abbeydale Community Association

2024-02-29-accounts

Charity registration number 1159454

ABBEYDALE COMMUNITY ASSOCIATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024

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 - 18

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
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

TRUSTEES' REPORT

FOR THE YEAR ENDED 28 FEBRUARY 2024

The Trustees present their annual report and financial statements for the year ended 28 February 2024.

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 objectives 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.

Public benefit

The Abbeydale Community Association (ACA) Board of Trustees have taken account of the Charity Commission guidance on public benefit.

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 (including 2 new members of staff), a Site Maintenance Officer and a Financial Administrator.

Communications with user groups and the public are maintained through noticeboards, a website, e-newsletter, email and social media.

Centre Facilities

During 2023-24, 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.

As well as clear terms and conditions of use and good communication with users of the Centre, regular cleaning, checks and maintenance ensure that the facilities are safe and fit for purpose.

After an energy efficiency report survey by an external agency, work is ongoing to improve sustainability in all areas of the Centre including changing light fittings and updating energy infrastructure.

A successful bid for a Build Back Better Grant from Gloucestershire County Council helped provide the bulk of funds to improve the outside tarmac play space mainly used by our stay and play hirers. We also received a small grant to replace an outside noticeboard.

ABBEYDALE COMMUNITY ASSOCIATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2024

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, gymnastics and ballroom dancing); business meetings, conferences and training; youth activities (such as martial arts and Scouting Association), private tutoring and an increasing number of pre-school groups.

The Charity has continued to work closely with Abbeymead Rovers Football club, one of the largest football clubs in the Southwest. 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.

Charitable Activities and Community

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. 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, such as family discos and live musical entertainment.

Use of hirer feedback forms, social media and Google have ensured the Centre receives regular feedback in

order to recognise and respond to the needs of the community.

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 and polling station. The Centre once again 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 who have held several events at the Centre.

Phoenix Café Bar facility

The Charity’s trading subsidiary, Phoenix Café Bar (ACA Enterprises Ltd), has had increasingly steady trade in 2023-24, 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 discos and live music events; provides food and drink services for parties and business meetings; and also welcomes community groups such as a coffee group.

Financial review

An improving year for both the Charity and our Trading company after a difficult last financial year.

Charity income was up from the previous year for both rooms and the artificial training pitch. In particular we experienced improved regular hirer use for our rooms, especially from the new school year in September. We managed to rein in our costs despite increased electricity, staff and contract cleaning costs. Overall we managed to record a small profit for the year and we hope to build upon this going forward.

We improved the tarmac area outside our main room with a “Build Back Better” grant from Gloucestershire County Council.

ABBEYDALE COMMUNITY ASSOCIATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2024

ACA Enterprises Ltd, our trading subsidiary had a better year with higher sales and a slightly improved gross profit margin. Control of wastage and other costs improved too. Unfortunately, poor winter sales meant we finished the year with a small loss albeit smaller than the previous year. We are working hard to rectify this issue for the current year.

We are confident for the prospects for both the Charity and the trading company, despite the continued smaller losses for the latter.

We maintain a policy of constantly trying to build up financial reserves to help fund both future liabilities, cope with unplanned expenditure and to help fund our 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 in Gloucester since 1985.

The charity’s free reserves totalled £87,971 as at 28 February 2024 (2023: £84,536).

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.

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 Ms M Skelton

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: 25 November 2024

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 2024.

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:

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: 28 November 2024

ABBEYDALE COMMUNITY ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 28 FEBRUARY 2024

Current financial year
Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income and endowments from:
Donations and legacies
2
1,334
3,578
Charitable activities
Rent of rooms
3
91,339
-
Rent of sports facilities
3
64,489
-
Other income
4
215
-
Total income
157,377
3,578
Expenditure on:
Charitable activities
Facilities running costs
5
147,493
-
Development of community facilities
5
-
6,667
Total charitable expenditure
147,493
6,667
Net income/(expenditure) for the year/
Net movement in funds
9,884
(3,089)
Fund balances at 1 March 2023
95,497
3,575
Fund balances at 28 February 2024
105,381
486		 Total
2024
£
4,912
91,339
64,489
215
160,955
147,493
6,667
154,160
6,795
99,072
105,867		 Total
2023
£
522
79,760
59,031
5,571
144,884
149,624
7,952
157,576
(12,692)
111,764
99,072

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

ABBEYDALE COMMUNITY ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 28 FEBRUARY 2024

Prior 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 income/(expenditure) 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

ABBEYDALE COMMUNITY ASSOCIATION

BALANCE SHEET

AS AT 28 FEBRUARY 2024

Notes
Fixed assets
Investments
9
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
15
Unrestricted funds
Designated funds
14
General unrestricted funds		 2024
£
94,960
19,563
114,523
(8,657)
17,410
87,971		 £
1
105,866
105,867
486
105,381
105,867		 2023
£
90,818
20,110
110,928
(11,857)
10,961
84,536		 £
1
99,071
99,072
3,575
95,497
99,072

The financial statements were approved by the Trustees on 25 November 2024

Mr B Lyall Trustee

ABBEYDALE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024

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.

ABBEYDALE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2024

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.

ABBEYDALE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2024

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.

ABBEYDALE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2024

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
874
-
Government grants
460
3,578
1,334
3,578
Grants receivable for core activities
GCC - Queen's Jubilee
460
-
Lady Downe Trust
-
578
GCC - Build Back Better
-
3,000
460
3,578		 Total Unrestricted
funds
2024
2023
£
£
874
522
4,038
-
4,912
522
460
-
578
-
3,000
-
4,038
-		 Total Unrestricted
funds
2024
2023
£
£
874
522
4,038
-
4,912
522
460
-
578
-
3,000
-
4,038
-
522
-
-
-
-

3 Charitable activities

Rent of rooms Rent of sports Rent of rooms Rent of sports Total Rent of rooms Rent of sports Rent of rooms Rent of sports Total
facilities 2024 facilities 2023
2024
2024		 2023
2023
£
£		 £ £
£		 £
Charitable rental
income 91,339
64,489		 155,828 79,760
59,031		 138,791

4 Other income

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Other income 215 5,571

ABBEYDALE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2024

5 Charitable activities

Facilities
running
costs
Development
of community
facilities
2024
2024
£
£
Staff costs
45,121
-
Rates and water
2,971
-
Insurance
15,618
-
Light and heat
25,112
-
Administration and
telephone
4,943
578
Cleaning
13,003
-
Repairs and
maintenance
30,974
3,000
Sundries
6,005
-
Artzone
-
2,419
Accountancy
2,876
-
Independent examiner
fees
870
-
GCC Growing
Communities
-
670
147,493
6,667
147,493
6,667
Analysis by fund
Unrestricted funds
147,493
-
Restricted funds
-
6,667
147,493
6,667		 Total
2024
Facilities
running
costs
Development
of community
facilities
2023
2023
£
£
£
45,121
38,058
-
2,971
3,704
-
15,618
13,787
-
25,112
18,984
-
5,521
4,436
-
13,003
11,223
-
33,974
49,833
-
6,005
6,977
-
2,419
-
2,708
2,876
2,032
-
870
590
-
670
-
5,244
154,160
149,624
7,952
154,160
149,624
7,952
147,493
149,624
-
6,667
-
7,952
154,160
149,624
7,952		 Total
2023
£
38,058
3,704
13,787
18,984
4,436
11,223
49,833
6,977
2,708
2,032
590
5,244
157,576
157,576
149,624
7,952
157,576

Governance costs totalling £3,746 (2023: £2,622) are included within expenditure on charitable activities. This includes £870 (2023: £590) payable to the Independent Examiner for Independent Examination and £2,876 (2023: £2,032) payable to the Independent Examiner for other accountancy services provided.

6 Trustees

One of the Trustees received reimbursed expenses totalling £23 during the year (2023: £nil). None of the Trustees received any remuneration or benefits from the charity during the year (2023: £nil).

ABBEYDALE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2024

7 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Administration 5 6
Employment costs 2024 2023
£ £
Wages and salaries 44,615 37,858
Other pension costs 506 200
45,121 38,058

There were no employees whose annual remuneration was £60,000 or more.

8 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

9 Fixed asset investments

Other
investments
Cost or valuation
At 1 March 2023 & 28 February 2024 1
Carrying amount
At 28 February 2024 1
At 28 February 2023 1
2024 2023
Other investments comprise: Notes £ £
Investments in subsidiaries 10 1 1

There were no investment assets outside the UK.

ABBEYDALE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2024

10 Subsidiaries

These financial statements are separate charity financial statements for Abbeydale Community Association.

Details of the charity's subsidiaries at 28 February 2024 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 (9,891) 88,075

The investments in subsidiaries are all stated at cost.

11 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		 2024
£
21,753
598
5,289
27,640
2024
£
67,320
94,960		 2023
£
18,572
420
4,461
23,453
2023
£
67,365
90,818

ABBEYDALE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2024

12 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		 2024
£
-
4,463
169
4,025
8,657		 2023
£
143
8,494
133
3,087
11,857

ABBEYDALE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2024

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 Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources Revaluations, Balance at
1 March 2022 resources expended 1 March 2023 resources expended gains and 28 February
losses 2024
£ £ £ £ £ £ £ £ £
Unrestricted funds 95,179 144,634 (149,374) (5,903) 84,536 157,377 (147,493) (6,449) 87,971

ABBEYDALE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2024

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 Transfers Balance at Transfers Balance at
1 March 2022 1 March 2023 28 February
2024
£ £ £ £ £
Designated funds 5,058 5,903 10,961 6,449 17,410
5,058 5,903 10,961 6,449 17,410

Designated funds relate to amounts set aside by the Trustees for the future replacement of the Astroturf pitch.

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 in funds Movement in funds
Balance at Resources Balance at Incoming Resources Balance at
1 March 2022 expended 1 March 2023 resources expended 28 February
2024
£ £ £ £ £ £
Artzone 5,527 (2,708) 2,819 - (2,419) 400
GCC - Growing Our
Communities grant 6,000 (5,244) 756 - (670) 86
Lady Downe Trust - - - 578 (578) -
Build Back Better Grant - - - 3,000 (3,000) -
11,527 (7,952) 3,575 3,578 (6,667) 486

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.

The Lady Downe Trust were funds received for the noticeboard.

The Build Back Better Grant received from Gloucester City Council helped provide the bulk of funds to improve the outside tarmac play space mainly used by our stay and play hirers.

ABBEYDALE COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 28 FEBRUARY 2024

16
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2024
2024
£
£
Fund balances at 28
February 2024 are
represented by:
Investments
1
-
Current assets/(liabilities)
105,380
486
105,381
486		 Total Unrestricted
funds
Restricted
funds
2024
2023
2023
£
£
£
1
1
-
105,866
95,496
3,575
105,867
95,497
3,575		 Total
2023
£
1
99,071
99,072

17 Related party transactions

Transactions with related parties

During the year the charity charged rental costs of £6,000 (2023: £6,000) 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 £67,320 (2023: £67,365).