LYE COMMUNITY CENTRE Charity No. 1164124 Trustee's Report and Unaudited Accounts 31 March 2025
LYE CONfjMUNITY CENTRE Contents Pages Trustee's Annual Report Independent Examiner's Report Statement of Financial Activities Balance heet Statement of Cash flows Notes to the Accounts Detailed Statement of Financial Activities 6t012 P3ee I
LYE COMMUNITY CINTRÉ Trustees Aiinual Report The trustee presents their report with the unaudited flnancial statements of the charity for the year ended 31 March 2025. REFERENCE AND ADMINISTRATIVE DETAILS Charity No. 1164124 Principal Office Cross Walks Road Lye Stourbridge DY9 8BH Trustee The following trustee served during the year: Trustees holding title to charity property Halima Sadia Nayyar Sultana Sarvean Akter Durdanna Latif Shazia Zaman Key Management Personnel Nayyar Sultana Shazia Zaman Sarvean Akter Durdanna Latif Accountants TAS Accountants 412 High Street Smethwick West Midlands B66 3PJ The trustee is responsible for keeping proper accounting records that 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 applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustee Is also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed Durdanna Latif Trustee 31 March 2025 Page 2
LYE COMMUNITY CENTRE Independent Examiners Report Independent Examiner's Report to the trustee of LYE COMMUNITY CENTRE report to the trustees on my examination of the financial statements of LYE COMMUNITY CENTRE for year ended 31 March 2025. Responsibilities and basis of report As the charity's trustee you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's financial statements 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: the accounting records were not kept in respect of the charity as required by section 130 of the Act. or the financial statements do not accord with those records. or the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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. TAS Accountants 412 High Street Smethwick West Midlands 16f•S . B66 3PJ 31 March 2025 Page 3
LYE COMMUNITY CENTRE Statement of Flnanclal Actlvltles for the year ended 31 March 2025 Unrestrocted funds Total funds Total funds 2025 2025 2024 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities 9,676 28,737 8,944 9,676 28,737 8,944 64,996 15,232 16,148 Total 47,357 47,357 96,376 Expenditure on: Raising funds Charitable activities Other 1,488, 129 1,488 129 638 74,850 32,015 32,015 Total 33,632 33,632 78,488 Net gains on investments Net income 13,725 13,725 17,888 Transfers between funds Net income before other gains/(losses) 13,725 13,725 17,888 Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 13,725 13,725 17,888 17,888 17,888 31.613 31,613 17,888 Page 4
LYE COMMUNITY CENTRE Balance Sheet at 31 March 2025 Charity No. 1164124 2025 2024 Current assets Cash at bank and in hand 30,125 30,125 1,488 16,747 16,747 1,141 Creditors: Amount falling due within one year Net current assets Total assets less current liabilities Net assets excluding pension asset or liability 31,613 17,888 31,613 17,888 31,613 17,888 Total net assets 31,613 17,888 The funds of the charity Restricted funds Unrestricted funds General funds 10 10 31,613 17,888 31,613 17,888 Reserves 10 Total funds 31,613 17,888 Approved by the trustees on 31 March 2025 And signed or4 their behalf by: Sarvean Akter Trustee 31 March 2025 Page 5
LYE COMMUNITY CENTRE Notes to the Accounts for the year ended 31 March 2025 l Accounting policies Basls of preparatlon The financial statements have been prepared in accordance with Statement of Recommended Prattice: Accounting and Reporting by Charltles preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic If Ireland (FRS 102) issued on 16 July 2014 and the Financial Reportlng Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. Change in basis of accountlng or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrictions Imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is Included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure Is expenditure reported gross in the SOFA. Donations and legacies Voluntary income received by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the Income. Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity Is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on investment assets This includes any gain or loss on the sale of investments. Page 6
LYE COfvIMUNITY CENTRI Notes to the Accounts Expenditure Recognition of expenditure Expenditure Is recognised on an accruals basis. Expenditure Includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to whlch it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and Investment management costs. Expenditure on These comprise the costs Incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of Its objects, including the making of grants and governance costs. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity. Grants payable Governance costs Taxation The charity is exempt from tax on its charitable activities. Freehold investment property Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are reco8nised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ace7
LYE COMMUNITY CENTRE Notes to the Accounts Research and development Expenditure on research and development is written off in the year in which it is incurred Foreign currencies Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. Leased assets Where the charity enters into a lease which entails taking substantially all the rlsks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments: The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated In the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. Pension costs The charity operates a defined contribution plan for Its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds. Receipt of donated goods, facilities and services All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. 2 Income from donations and legacies Unrestricted Total Total 2025 2024 Unrestricted 9,676 9,676 9,676 9,676 64,996 64,996 Page 8
LYE COMMUNITY CENI"RI Notes to the Accounts 3 Income from charitable activities Unrestricted Total Total 2025 2024 Donations 28,737 28,737 28,737 28,737 15,232 15,232 4 Income from other trading activlties Unrestricted Total Total 2025 2024 Venue Hire 8,944 8,944 8,944 8,944 16,148 16,148 5 Expenditure on raising funds Unrestricted Total Total 2025 2024 Costs of generating voluntory income Unrestricted 1,488 1,488 3,000 3,000 1,488 1,488 6 Expenditure on charitable activities Unrestricted Total Total 2025 2024 Expendirure on choritable activities Donations 129 129 638 Governance costs 129 129 638 7 Other expenditure Unrestricted Total Total 2025 2024 Employee costs Premises costs 7,174 7,174 2,333 22,564 22,564 63,478 General administrative costs 1,777 1,777 3,739 5,300 egal and professional costs 500 500 32,015 32,015 74,850 Page 9
LYE COMMUNITY CENTRE Notes to the Accounts 8 Staff costs 2025 7,174 7,174 2024 2,333 2,333 Salarles and wages No employee received emoluments in excess of £60,000. 9 Creditors: amounts falling due within one year 2025 2024 Trade creditors (1,488) (1,488) (1,141) (1,141) 10 Movement in funds Incoming resources (including other At l April gains/losses 2024 Resources At31 expended March 2025 Restricted funds: Unrestricted funds: General funds 17,888 47,357 (33,632) 31,613 Total funds 11 Analysis of net assets between funds 17,888 47,357 (33,632) 31,613 Unrestrirted funds Total Net current assets 31,613 31,613 31,613 31,613 12 Reconciliation of net debt At31 At l April 2024 March 2025 Cash flows Cash and cash equivalents 16,747 16,747 13,378 13,378 30,125 30,125 Net debt 16,747 13,378 30,125 Page 10
LI'E COMMUNITY CENTRE Detailed Statement of Financlal Activlties for the year ended 31 March 2025 Unrestrlcted funds 2025 Total funds Total funds 2025 2024 Income and endowments from: Donations and legacies Unrestricted 9,676 9,676 9,676 9,676 64,996 64,996 Charitable activities Donations 28,737 28,737 28,737 28,737 15,232 15,232 Other trading activities Venue Hire 8,944 8,944 8,944 8,944 16,148 16,148 Total income and endowments Expenditure on: Costs of generating donations and legacies Unrestricted 47,357 47,357 96,376 1,488 1,488 1,488 1,488 3,000 3,000 Total of expenditure on raising funds 1,488 1,488 3,000 Charitable activities Donations 129 129 638 129 129 638 Total of expenditure on charitable activities 129 129 638 Employee costs Salaries/wages 7,174 7,174 7,174 7,174 2,333 2,333 Premises costs Rates Light, heat and power Premises cleaning Premises repairs and maintenance 1,053 6,441 497 1,053 6,441 497 5,692 753 14,573 14,573 56.433 22,564 22,564 63.478 Gener31 administrative costs, including depreciation and amortisation Bank charges Equipment expensed Sundry expenses 126 126 156 244 244 1,869 570 735 735 Page
LYE COMMUNITY CENTRE Oetailed Statement of Flnanclal Actlvltles Telephone. fax and broadband 672 1,777 72 1.777 I,l44 3,739 Le8al and professlonal costs Accountancy and bookkeeping Consultancy fees 5(X) 500 soo 4,8CMJ 5,300 74,850 78,488 500 500 Total of expenditure of other costs Total expenditure Net gains on investments 32,015 32,015 33,632 33,632 13,725 13,725 Net income 17,888 Net income before other gains/(losses) Other Gains 13,725 13,725 17,888 Net movement in funds 13,725 13,725 17,888 Reconciliation of funds: Total funds brought forward Total funds carried forward 17,888 17,888 31,613 31,613 17,888 Paee 12