2022-03-31-accounts - Cromer Community Association CIO

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Cromer Community Association CIO

Charity No. 1166014

Trustees' Report and Unaudited Accounts

31 March 2022

Cromer Community Association CIO Contents

	Pages
Trustees' Annual Report	2 to 3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the Accounts	7 to 12
Detailed Statement of Financial Activities	13 to 14

Page 1

Cromer Community Association CIO Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1166014

Principal Office

12 Bernard Road Cromer NR27 9AW

Trustees

The following trustees served during the year:

J. Andrews T. Bartlett P.A. Harris G. Knight P. Mead J. Roberts

Accountants

Quantic Accountancy Limited 1 Second Avenue Bluebridge Halstead Essex CO9 2SU

Bankers

Lloyds Bank 14 High Street East Ham London E6 2HN

OBJECTIVES AND ACTIVITIES

Maintain and manage the community centre in Cromer for the benefit of the residents

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Page 2

Cromer Community Associa�on CIO Trustees Annual Report

The trustees are responsible for keeping proper accoun�ng records that disclose with reasonable accuracy at any �me the financial posi�on of the charity and to enable them to ensure that the financial statements comply with the Chari�es Act 2011, the applicable Chari�es (Accounts and Reports) Regula�ons, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the preven�on and detec�on of fraud and other irregulari�es.

Signed on behalf of the charity's trustees

P.A. Harris Trustee 14 January 2023

Page 3

Cromer Community Association CIO Independent Examiners Report

Independent Examiner's Report to the trustees of Cromer Community Association CIO

I report to the trustees on my examination of the financial statements of Cromer Community Association CIO for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

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 the 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.

S J Foster FCCA Chartered Certified Accountants Quantic Accountancy Limited 1 Second Avenue Bluebridge Halstead Essex CO9 2SU 14 January 2023

Page 4

Cromer Community Association CIO Statement of Financial Activities

for the year ended 31 March 2022

Unrestricted funds	Restricted funds	Total funds	Total funds
2022	2022	2022	2021
£	£	£	£

335	-	335	20,425
7,728	-	7,728	4,079
13,284	-	13,284	24,694
21,347	-	21,347	49,198

-	-	-	612
1,889	-	1,889	25,045
10,665	-	10,665	10,744
12,554	-	12,554	36,401
-	-	-	-
8,793	-	8,793	12,797
-	-	-	-
8,793	-	8,793	12,797

8,793	-	8,793	12,797

23,163	(29,784)	(6,621)	(19,418)
31,956	(29,784)	2,172	(6,621)

Page 5

Cromer Community Associa�on CIO Balance Sheet

at 31 March 2022

Charity No. 1166014 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 11 Net current assets/(liabili�es) Total assets less current liabili�es Creditors:Amounts falling due a�er more than one year 12 Net assets/(liabili�es) excluding pension asset or liability Total net assets/(liabili�es) The funds of the charity Restricted funds 13 Restricted income funds Unrestricted funds 13 General funds Reserves 13 Total funds	2022 £ 8,182 8,182 (5,428) 2,754 2,754 (582) 2,172 2,172 (29,784) (29,784) 31,956 31,956 2,172	2021 £ 12,638
		12,638 (15,188)
		(2,550) (2,550) (4,071)
		(6,621)
		(6,621)
		(29,784)
		(29,784) 23,163
		23,163
		(6,621)

Approved by the trustees on 14 January 2023

And signed on their behalf by:

P.A. Harris Trustee 14 January 2023

Page 6

Cromer Community Association CIO Notes to the Accounts

for the year ended 31 March 2022

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with 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 if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting 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.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income 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 Voluntary income received by way of grants, donations and gifts is included in the legacies 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 This includes any gain or loss on the sale of investments. investment assets

Page 7

Cromer Community Association CIO Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which 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.
Grants payable 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.
Governance costs 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.

Taxation

The charity is exempt from tax on its charitable activities.

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 recognised 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.

Page 8

Cromer Community Association CIO Notes to the Accounts

2 Statement of Financial Activities - prior year

2 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Charitable activities Other Total Expenditure on: Raising funds Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Grants received Sale of charity calendars 4 Income from charitable activities Events	Unrestricted funds 2021 £ 425 4,079 24,694 29,198 612 828 9,325 10,765 18,433 18,433 18,433 4,730 23,163 Unrestricted £ - 335 335 Unrestricted £ 7,728 7,728	Restricted funds 2021 £ 20,000 - - 20,000 - 24,217 1,419 25,636 (5,636) (5,636) (5,636) (24,148) (29,784) Total 2022 £ - 335 335 Total 2022 £ 7,728 7,728	Total funds 2021 £ 20,425 4,079 24,694
			49,198 612 25,045 10,744
			36,401
			12,797
			12,797
			12,797 (19,418)
			(6,621)
			Total 2021 £ 20,000 425
			20,425
			Total 2021 £ 4,079
			4,079

Page 9

Cromer Community Association CIO Notes to the Accounts

5 Other income

Unrestricted £ 13,284 13,284	Total 2022 £ 13,284 13,284	Total 2021 £ 24,694
		24,694

Unrestricted £ 1,889 - 1,889 Unrestricted £ 1,311 3,798 2,692 2,480 384 10,665 2022 £ 240	Total 2022 £ - - Total 2022 £ 1,889 - 1,889 Total 2022 £ 1,311 3,798 2,692 2,480 384 10,665	Total 2021 £ 612
		612
		Total 2021 £ 828 24,217
		25,045
		Total 2021 £ 1,419 4,303 2,438 2,104 480
		10,744
		2021 £ 240

Page 10

Cromer Community Association CIO Notes to the Accounts

2022 3,798 3,798 2022 £ 3,490 1,698		2021 4,303
		4,303
		2021 £ 3,490 11,698
240		-
5,428 2022 £ 582 582 Incoming resources (including other gains/losses ) £ - - 21,347 21,347	Resources expended £ - - (12,554) (12,554)	15,188
		2021 £ 4,071
		4,071
		At 31 March 2022 £ (29,784)
		(29,784)
		31,956
		2,172

Purposes and restrictions in relation to the funds: Restricted funds: Property improvements

Page 11

Cromer Community Association CIO Notes to the Accounts

14 Analysis of net assets between funds

14 Analysis of net assets between funds
Net current assets Creditors due in more than one year and provisions 15 Reconciliation of net debt Cash and cash equivalents Bank loans Net debt	Unrestricted funds £ 7,942 - 7,942 At 1 April 2021 £	Restricted funds £ (5,188) (582) (5,770) Cash flows £	Total £ 2,754 (582)
			2,172
			At 31 March 2022 £
	12,638	(4,456)	8,182
	12,638 (7,561)	(4,456)	8,182 (4,072)
		3,489
	(7,561) 5,077	3,489 (967)	(4,072)
			4,110

Page 12

Cromer Community Association CIO Detailed Statement of Financial Activities

for the year ended 31 March 2022

Income and endowments from: Donations and legacies Grants received Sale of charity calendars Charitable activities Events Other Government Covid grants Total income and endowments Expenditure on: Costs of generating donations and legacies Sale of charity calendars Total of expenditure on raising funds Charitable activities Events Property improvements Total of expenditure on charitable activities Other expenditure Bank loan and overdraft interest payable Employee costs Salaries/wages Premises costs Rates Premises insurances Premises repairs and maintenance Other premises costs	Unrestricte d funds 2022 £ - 335 335 7,728 7,728 13,284 13,284 21,347 - - - 1,889 - 1,889 1,889 1,311 1,311 3,798 3,798 333 1,656 653 50 2,692	2022 £ - - - - - - - - - - - - - - - - - - - - - - - -	Total funds 2022 £ - 335 335 7,728 7,728 13,284 13,284 21,347 - - - 1,889 - 1,889 1,889 1,311 1,311 3,798 3,798 333 1,656 653 50 2,692	Total funds 2021 £ 20,000 425
				20,425
				4,079
				4,079
				24,694
				24,694
				49,198 612
				612
				612 828 24,217
				25,045
				25,045 1,419
				1,419
				4,303
				4,303
				788 1,510 - 140
				2,438

Page 13

Cromer Community Association CIO Detailed Statement of Financial Activities

General administrative costs, including depreciation and amortisation Equipment repairs and maintenance Sundry expenses Telephone, fax and broadband Legal and professional costs Audit/Independent examination fees Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	102 - 2,378 2,480 240 144 384 10,665 12,554 - 8,793 8,793 - 8,793 23,163 31,956	- - - - - - - - - - - - - - (29,784) (29,784)	102 - 2,378 2,480 240 144 384 10,665 12,554 - 8,793 8,793 - 8,793 (6,621) 2,172	- 158 1,946
				2,104
				480 -
				480

				10,744
				36,401 -
				12,797
				12,797 -
				12,797
				(19,418)
				(6,621)

Page 14