Cromer Community Association CIO
Charity No. 1166014
Trustees' Report and Unaudited Accounts
31 March 2024
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 2024.
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 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).
The trustees are 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 Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 2
Cromer Community Association CIO Trustees Annual Report
Signed on behalf of the charity's trustees
signed on 20/01/2025, 12:46:26 GMT
P.A. Harris Trustee 17 January 2025
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 2024.
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').
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
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the financial statements do not accord with those records; or
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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.
Stuart Foster
signed on 20/01/2025, 13:19:06 GMT
S J Foster FCCA Chartered Certified Accountants
Quantic Accountancy Limited
1 Second Avenue
Bluebridge Halstead Essex CO9 2SU
17 January 2025
Page 4
Cromer Community Association CIO Statement of Financial Activities
for the year ended 31 March 2024
| Notes Income and endowments from: Donations and legacies 3 Charitable activities 4 Total Expenditure on: Charitable activities 5 Other 7 Total Net gains on investments Net income/(expenditure) 8 Transfers between funds Net income/(expenditure) before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Restricted funds |
Total funds | Total funds | |
|---|---|---|---|---|---|
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| 12,333 | 4,952 | 17,285 | 4,964 | ||
| 29,543 | - | 29,543 | 14,841 | ||
| 41,876 | 4,952 | 46,828 | 19,805 | ||
| 10,326 | - | 10,326 | 1,185 | ||
| 21,391 | - | 21,391 | 22,137 | ||
| 31,717 | - | 31,717 | 23,322 | ||
| - | - | - | - | ||
| 10,159 | 4,952 | 15,111 | (3,517) | ||
| (1,345) | 1,345 | - | - | ||
| 8,814 | 6,297 | 15,111 | (3,517) | ||
| 8,814 | 6,297 | 15,111 | (3,517) | ||
| - | (1,345) | (1,345) | 2,172 | ||
| 8,814 | 4,952 | 13,766 | (1,345) | ||
Page 5
Cromer Community Association CIO Balance Sheet
at 31 March 2024
| Charity No. 1166014 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 10 Net current assets Total assets less current liabilities Creditors:Amounts falling due after more than one year 12 Net assets/(liabilities) excluding pension asset or liability Total net assets/(liabilities) The funds of the charity Restricted funds 13 Restricted income funds Unrestricted funds 13 General funds Reserves 13 Total funds |
2024 £ 19,902 19,902 (5,495) 14,407 14,407 (641) 13,766 13,766 4,952 4,952 8,814 8,814 13,766 |
2023 £ 9,554 |
|---|---|---|
| 9,554 (6,114) |
||
| 3,440 3,440 (4,785) |
||
| (1,345) | ||
| (1,345) | ||
| (1,345) | ||
| (1,345) - |
||
| - | ||
| (1,345) |
Approved by the trustees on 17 January 2025
And signed on their behalf by:
P.A. Harris signed on 20/01/2025, 12:46:26 GMT Trustee 17 January 2025
Page 6
Cromer Community Association CIO Notes to the Accounts
for the year ended 31 March 2024
- 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.
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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.
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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.
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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.
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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.
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.
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 Total Expenditure on: Charitable activities Other Total Net income Transfers between funds 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 Donations received 4 Income from charitable activities Events |
Unrestricted £ 11,793 540 12,333 |
Unrestricted funds 2023 £ 3,564 14,841 18,405 1,185 14,764 15,949 2,456 (34,412) (31,956) (31,956) 31,956 - Restricted £ 4,952 - 4,952 Unrestricted £ 29,543 29,543 |
Restricted funds 2023 £ 1,400 - 1,400 - 7,373 7,373 (5,973) 34,412 28,439 28,439 (29,784) (1,345) Total 2024 £ 16,745 540 17,285 Total 2024 £ 29,543 29,543 |
Total funds 2023 £ 4,964 14,841 |
| 19,805 1,185 22,137 |
||||
| 23,322 | ||||
| (3,517) - |
||||
| (3,517) | ||||
| (3,517) 2,172 |
||||
| (1,345) | ||||
| Total 2023 £ 4,964 - |
||||
| 4,964 | ||||
| Total 2023 £ 14,841 |
||||
| 14,841 |
Page 9
Cromer Community Association CIO Notes to the Accounts
- 5 Expenditure on charitable activities
| Expenditure on charitable activities Events Grants made Governance costs 6 Analysis of grants Activity or programme N U Grant Activity or programme N U Grant 7 Other expenditure Bank loan and overdraft interest payable Employee costs Premises costs General administrative costs Legal and professional costs 8 Net income/(expenditure) before transfers This is stated after charging: Independent Examiner's fee |
Unrestricted £ 8,076 2,250 10,326 Grants to Institutions £ 2,250 2,250 Grant funding of activities £ 2,250 2,250 Unrestricted £ 954 4,320 10,631 3,032 2,454 21,391 2024 £ 276 |
Total 2024 £ 8,076 2,250 10,326 Total 2024 £ 2,250 2,250 Total 2024 £ 2,250 2,250 Total 2024 £ 954 4,320 10,631 3,032 2,454 21,391 |
Total 2023 £ 1,185 - |
|---|---|---|---|
| 1,185 | |||
| Total 2023 £ - |
|||
| - | |||
| Total 2023 £ |
|||
| - | |||
| - | |||
| Total 2023 £ 1,118 4,315 14,633 1,409 662 |
|||
| 22,137 | |||
| 2023 £ 252 |
Page 10
Cromer Community Association CIO Notes to the Accounts
| 9 Staff costs 2024 2023 Salaries and wages 4,176 4,315 4,176 4,315 No employee received emoluments in excess of £60,000. The average monthly number of full time equivalent employees during the year was as follows: 2024 2023 Number Number Events 1 1 1 1 10 Creditors: amounts falling due within one year 2024 2023 £ £ Bank loans and overdrafts 3,521 3,164 Loans from trustees 1,698 1,698 Accruals 276 252 Deferred income - 1,000 5,495 6,114 11 Deferred Income Movement of the deferred income shown in_Creditors: amounts falling due within one year_ 2024 2023 £ £ At 1 April 1,000 - Released in current year (1,000) - Deferred in current year - 1,000 At 31 March - 1,000 Grant used for N U contribution work at Community Centre 12 Creditors: amounts falling due after more than one year 2024 2023 £ £ Bank loans and overdrafts 641 4,785 641 4,785 |
9 Staff costs 2024 2023 Salaries and wages 4,176 4,315 4,176 4,315 No employee received emoluments in excess of £60,000. The average monthly number of full time equivalent employees during the year was as follows: 2024 2023 Number Number Events 1 1 1 1 10 Creditors: amounts falling due within one year 2024 2023 £ £ Bank loans and overdrafts 3,521 3,164 Loans from trustees 1,698 1,698 Accruals 276 252 Deferred income - 1,000 5,495 6,114 11 Deferred Income Movement of the deferred income shown in_Creditors: amounts falling due within one year_ 2024 2023 £ £ At 1 April 1,000 - Released in current year (1,000) - Deferred in current year - 1,000 At 31 March - 1,000 Grant used for N U contribution work at Community Centre 12 Creditors: amounts falling due after more than one year 2024 2023 £ £ Bank loans and overdrafts 641 4,785 641 4,785 |
2023 4,315 |
|---|---|---|
| 4,315 | ||
| 1 | ||
| 2023 £ 3,164 1,698 |
||
| 276 | 252 | |
| - | 1,000 | |
| 6,114 | ||
| 2023 £ - - 1,000 |
||
| 1,000 | ||
| 2023 £ 4,785 |
||
| 4,785 |
Page 11
Cromer Community Association CIO Notes to the Accounts
13 Movement in funds
| 13 Movement in funds | |||
|---|---|---|---|
| At 1 April 2023 Incoming resources (including other gains/losses) £ Restricted funds: Restricted income funds: Property improvements (1,345) - Defibrillator - - Clothes Swaps - 4,952 Total (1,345) 4,952 Unrestricted funds: General funds - 41,876 Total funds (1,345) 46,828 Purposes and restrictions in relation to the funds: Restricted funds: Property improvements Defibrillator Clothes Swaps 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 |
Resources expended £ |
Gross transfers £ - 1,345 - 1,345 (1,345) - |
At 31 March 2024 £ (1,345) 1,345 4,952 |
| - | |||
| - | |||
| - | |||
| - (31,717) (31,717) |
|||
| 4,952 | |||
| 8,814 | |||
| 13,766 | |||
| Unrestricted funds £ 19,626 - 19,626 At 1 April 2023 £ |
Restricted funds £ (5,219) (641) (5,860) Cash flows £ |
Total £ 14,407 (641) |
|
| 13,766 | |||
| At 31 March 2024 £ |
|||
| 9,554 | 10,348 | 19,902 | |
| 9,554 (7,949) |
10,348 | 19,902 (4,162) |
|
| 3,787 | |||
| (7,949) 1,605 |
3,787 14,135 |
(4,162) | |
| 15,740 | |||
Page 12
Cromer Community Association CIO Detailed Statement of Financial Activities
for the year ended 31 March 2024
| Income and endowments from: Donations and legacies Grants received Donations received Charitable activities Events Total income and endowments Expenditure on: Charitable activities Events Grants made Total of expenditure on charitable activities Other expenditure Bank loan and overdraft interest payable Employee costs Salaries/wages Staff welfare Premises costs Rates Light, heat and power Premises cleaning Premises insurances Premises repairs and maintenance Other premises costs General administrative costs, including depreciation and amortisation Equipment repairs and maintenance Telephone, fax and broadband |
Unrestricte d funds 2024 £ 11,793 540 12,333 29,543 29,543 41,876 8,076 2,250 10,326 10,326 954 954 4,176 144 4,320 583 4,443 321 2,138 2,778 368 10,631 2,793 239 3,032 |
Restricted funds 2024 £ 4,952 - 4,952 - - 4,952 - - - - - - - - - - - - - - - - - - - |
Total funds 2024 £ 16,745 540 17,285 29,543 29,543 46,828 8,076 2,250 10,326 10,326 954 954 4,176 144 4,320 583 4,443 321 2,138 2,778 368 10,631 2,793 239 3,032 |
Total funds 2023 £ 4,964 - |
|---|---|---|---|---|
| 4,964 | ||||
| 14,841 | ||||
| 14,841 | ||||
| 19,805 1,185 - |
||||
| 1,185 | ||||
| 1,185 1,118 |
||||
| 1,118 | ||||
| 4,315 - |
||||
| 4,315 | ||||
| 123 4,782 50 1,819 7,859 - |
||||
| 14,633 | ||||
| 1,263 146 |
||||
| 1,409 |
Page 13
Cromer Community Association CIO Detailed Statement of Financial Activities
| Cromer Community Association CIO Detailed Statement of Financial Activities |
||||
|---|---|---|---|---|
| Legal and professional costs Audit/Independent examination fees Accountancy and bookkeeping Solicitor's fees Total of expenditure of other costs Total expenditure Net gains on investments Net income/(expenditure) Transfers between funds Net income/(expenditure) before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
276 178 2,000 2,454 21,391 31,717 - 10,159 (1,345) 8,814 - 8,814 - 8,814 |
- - - - - - - 4,952 1,345 6,297 - 6,297 (1,345) 4,952 |
276 178 2,000 2,454 21,391 31,717 - 15,111 - 15,111 - 15,111 (1,345) 13,766 |
252 410 - |
| 662 | ||||
| 22,137 | ||||
| 23,322 - |
||||
| (3,517) - |
||||
| (3,517) - |
||||
| (3,517) | ||||
| 2,172 | ||||
| (1,345) |
Page 14
Signatures' technical details
Signatures
philaharris@btinternet.com
20/01/2025, 12:46:26 GMT
Fingerprint
c82633c2b9007e6e7565aebebc09ba54bdc5ce26
stuart@quantic-ac.co.uk
20/01/2025, 13:19:06 GMT
Fingerprint
c131ecfd8bbff662769cbdb69d00265dd472b7e1
Event log
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