CHINNOR COMMUNITY PAVILION
(Registered charity number 1163299)
Charity Trustees’ Annual Report and Financial Statements for the year ended 31 March 2021
CHINNOR COMMUNITY PAVILION
Contents
| Page | |
|---|---|
| Legal and administration details | 2 |
| Charity Trustees’ Annual Report and Financial Statements | 3 - 4 |
| Statement of financial activities | 5 |
| Balance Sheet | 6 |
| Notes to the financial statements | 7 - 10 |
| Report of the Independent Examiner | 11 |
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CHINNOR COMMUNITY PAVILION
Legal and administration details
Charity registration number: 1163299 Charity’s principal address: Station Road Chinnor Oxfordshire OX39 4PQ Charity Trustees: Dave Young Chairperson Maxine Pickard Daryl Ridgley Stephen Knapp Appointed 1 December 2020
Independent Examiner: Jacqui Williams FCA Jacqui Williams Accountancy Limited Chartered Accountants 14 Station Road Chinnor Oxfordshire OX39 4QD
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CHINNOR COMMUNITY PAVILION
Charity Trustees’ Annual Report and Financial Statements
for the year ended 31 March 2021
The charity trustees present their report and the financial statements of the charity for the year ended 31 March 2021. The charity trustees have adopted the provisions of the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Governing document
The charity is governed by the Constitution for Chinnor Community Pavilion registered 25 August 2015 under which the charity is a charitable incorporated organisation.
Trustees
The only voting members of the charitable incorporated organisation are trustees. The constitution allows the appointment of up to seven trustees. Appointments have to be made at meetings held according to the constitution.
Statement of the charity trustees' responsibilities
The charity trustees are responsible for preparing the Report of the Charity Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed, requires the charity trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure of the charity for that period. In preparing the financial statements, the charity trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operational existence.
The charity trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Provisions) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Objects and activities of the charity for the public benefit
To provide facilities in the form of a playing field and pavilion for recreational and leisure activities for the benefit of the inhabitants of the parish of Chinnor in the county of Oxfordshire in the
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CHINNOR COMMUNITY PAVILION
interests of social welfare and with the object of improving the conditions of life of the said inhabitants.
The charity trustees confirm they have referred to the guidance contained in Section 4 of the Charites Act 2011 and the Charities Commission general guidance on public benefit when reviewing the charity's aims for the public benefit.
Achievements and performance
Guiding the activities of the wholly owned company, Chinnor Community Pavilion Trading Limited, the recreational buildings, facilities and open space suitable for recreational and leisure activities were improved for use by local inhabitants over the reporting period.
Financial review
In order to fulfil its objects the charity holds reserves. When the charity receives grants or donations for particular purposes, the charity identifies such funds as restricted reserves and their use is limited to expenditure for the particular purpose. The charity will be particularly cautious using its unrestricted reserve given the uncertainty in the lives of inhabitants of the parish of Chinnor caused by COVID-19.
Approved by the charity trustees on______
And signed on their behalf by:
Stephen Knapp
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CHINNOR COMMUNITY PAVILION
STATEMENT OF FINANCIAL ACTIVITIES
| for the year ended 31 March 2021 Unrestricted Fund Restricted Fund Notes £ £ INCOMING RESOURCES Income from: Donations 3,860 - Corporate donation - - Charitable activities 2 - - Total Income 3,860 - RESOURCES EXPENDED Expenditure on: Charitable activities: Grant making activities 3 8,000 - Total expenditure 8,000 - Net expenditure (4,140) - Transfers between funds - - NET MOVEMENT IN FUNDS (4,140) - RECONCILIATION OF FUNDS Total funds brought forward 11,677 - Total funds carried forward 7,537 - |
Total 2021 Total 2020 £ £ 3,860 3,614 - - - - |
|---|---|
| 3,860 12,352 |
|
| 8,000 12,000 |
|
| 8,000 12,000 |
|
| (4,140) (8,386) - - |
|
| (4,140) (8,386) 11,677 20,063 |
|
| 7,537 11,677 |
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CHINNOR COMMUNITY PAVILION
BALANCE SHEET at 31 March 2021
| Notes Investments 4 Loan receivable 5 Current assets Debtors 6 Cash at bank current account Total current assets Creditors Amounts falling due within one year Net current assets Long term loan 7 Net assets 8 Funds Unrestricted fund Restricted fund Total funds Approved by the charity trustees on _______ and signed on their behalf by: |
2021 £ £ 1 7,000 3,183 4,353 7,536 - 7,536 (7,000) 7,537 7,537 - 7,537 ____ |
2020 £ £ 1 7,000 2,643 9,033 11,676 - 11,676 (7,000) 11,677 11,677 - 11,677 |
2020 £ £ 1 7,000 2,643 9,033 11,676 - 11,676 (7,000) 11,677 11,677 - 11,677 |
|---|---|---|---|
| 7,536 - |
11,676 - |
||
| ____ | |||
| 11,677 | |||
| 11,677 - |
|||
| 11,677 | |||
Stephen Knapp
The notes on pages 7 to 11 form part of these financial statements.
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CHINNOR COMMUNITY PAVILION
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2021
1 Accounting policies:
Basis of accounting
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared on a going concern basis under the historical cost convention.
Exemption from preparation of group accounts
The charity, and the group headed by it, qualify as small and considered eligible for the exemption from the production of group consolidated accounts. The accounts therefore relate to the charity as an individual entity.
Charity Status
The charity is a charitable incorporated organisation. The members of the company are the Trustees named on page 2. In the event of the charity being wound up, the members of the charitable incorporated organisation have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
Financial instruments
The charity only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments, including debtors and creditors due within one year and longer periods, are initially recognised at transaction value and subsequently measured at their settlement value.
Incoming resources
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Fundraising income, included within other trading activities, is recognised in the period in which the event takes place
Expenditure
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 costs related to the category.
The charity pays grants to local organisations in support of recreational and leisure-time activities for the benefit of the inhabitants of the Parish of Chinnor.
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CHINNOR COMMUNITY PAVILION
NOTES TO THE FINANCIAL STATEMENTS (continued)
for the year ended 31 March 2021
Debtors and Loans receivable
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Creditors
Short-term and long-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Grants received
Revenue grants are recognised in the statement of financial activities to match them with the expenditure to which they contribute.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted fund can be used in accordance with the charitable objectives at the discretion of charity trustees.
Restricted fund contains the grant received from Chinnor Parish Council specifically to support the purchase of cricket nets by the charity’s subsidiary, Chinnor Community Pavilion Trading Limited.
Independent examination
The fees in respect of the independent examination for the year were £150 (2020: £150). Given that all administration costs are borne by the subsidiary company, Chinnor Community Pavilion Trading Limited, that company pays the independent examination fees.
2 Analysis of income:
Charitable activities - -
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CHINNOR COMMUNITY PAVILION
NOTES TO THE FINANCIAL STATEMENTS (continued)
for the year ended 31 March 2021
| 3 Analysis of expenditure: 2021 £ Grant making activities: Chinnor Community Pavilion Trading Limited 8,000 Chinnor Football Club - --------- 7,837 --------- 4 Investments Cost At 1 April 2020 Additions Disposals At 31 March 2021 Impairment At 1 April 2020 Charge for year Disposals At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 |
2020 £ 11,000 1,000 --------- 12,000 --------- Investment in subsidiary £ 1 - - |
|---|---|
| 1 | |
| - - - |
|
| - | |
| 1 | |
| 1 |
The investment held by the charity is in its subsidiary, Chinnor Community Pavilion Trading Limited. Chinnor Community Pavilion Trading Limited is a company incorporated in England and Wales with registered number 09891594. The charity holds 100% of the issued ordinary share capital in the company.
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NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 March 2021
4 Investments (continued)
The balance sheet position and results of the subsidiary company in respect of the 31 March 2021 year end were:
| Balance sheet Fixed assets Current assets Current liabilities Long term liabilities Net assets Results Turnover Expenditure Profit for the year |
31 March 2021 £ 20,976 57,984 (5,451) (57,000) |
|---|---|
| 16,509 | |
| Year ended 31 March 2021 £ 57,397 (46,580) |
|
| 10,817 |
5 Loan receivable
| Loan due from subsidiary by 31 December 2025 6 Debtors Amount payable by subsidiary within one year 7 Long term loan Loan payable to Chinnor Parish Council by 31 December 2025 |
2021 2020 £ £ |
|---|---|
| 7,000 7,000 |
|
| 2021 2020 £ £ |
|
| 3,183 2,643 |
|
| 2021 2020 £ £ |
|
| 7,000 7,000 |
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CHINNOR COMMUNITY PAVILION
NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 March 2021
8 Analysis of net assets between funds
There is an Unrestricted fund and a Restricted fund.
| At 31 March 2021 Unrestricted fund Restricted fund Total funds At 31 March 2020 Unrestricted fund Restricted fund Total funds |
Tangible fixed assets Net Current assets Total Net assets £ £ £ 1 7,536 7,536 - - - |
|---|---|
| 1 11,676 11,677 |
|
| 1 11,676 11,677 - - - |
|
| 1 11,676 11,677 |
9 Trustees
The charity trustees were not paid and did not receive any remuneration or benefits for their services as charity trustees during the year.
10 Operating lease
The charity has leased The Playing Field, Station Road, Chinnor from Chinnor Parish Council. The rent payable under the lease is £1 per annum. The lease expires in 2041 and the total future lease commitment is £22.
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CHINNOR COMMUNITY PAVILION
REPORT OF THE INDEPENDENT EXAMINER for the year ended 31 March 2021
I report to the trustees of Chinnor Community Pavilion on the financial statements of the charity for the year ended 31 March 2021, which are set out on pages 5 to 11.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jacqui Williams FCA Jacqui Williams Accountancy Limited Chartered Accountants 14 Station Road Chinnor Oxfordshire OX39 4QD
Date:
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