2023-08-31-accounts

Annual Report Commentary for year ending 31 August 2023

2022/23 proved to be another challenging year for the Lostwithiel Community Association (LCA). The high cost of living increases experienced by everyone during the year did not bypass the LCA and some costs increased exponentially and were outside the control of the Trustees. This had a major impact on curtailing the plans that the Trustees had to carry out essential repairs to the structure of the Centre and on the financial results for the year.

Donations in the year totalled £9,135 which were gratefully received from various generous individuals and organisations. The amount was significantly less, £22,211, than the previous year as most donations received in the past have been obtained to carry out specific repairs and upgrades to the Centre. It proved more difficult to raise similar repair grants in 2023. The donations received in the year were of the type that allowed the community to participate in various activities and events, such as the Christmas Grotto, to re-establish the Memory Café and start a badminton club for the younger members of the Lostwithiel community.

Income from normal Charitable activities totalled £111,229 (2022 - £89,478). Hall hire fees saw a small but encouraging increase of £2,667 when compared to 2022. To try to encourage greater usage of the Centre in 2022/23, the Trustees significantly reduced the hourly rate for the hire of the various rooms and main hall in the Centre. It partially worked as total income for hall hire was higher in 2023, but not to the extent that was hoped for. Total income received at the Community Café was much improved in 2023 when compared to 2022, and for 2023 the café exceeded its target of trading without making a loss by making a good surplus of £6,133 for the year. Total Income received in 2023 was £120,364 (2022 - £115,689).

Most costs were generally well controlled apart from energy charges for the Centre and the cost of wages and salaries. The LCA had three-year fixed price contracts with energy suppliers that unfortunately ended during the 2023 financial year and this was at the time when energy costs were greatly increased. For the LCA energy costs in 2023 totalled £23,829, an increase of £15,506 when compared to 2022 and not something the Trustees could have anticipated. The cost of wages also increased by £7,995 to £65,256 for 2023, a 13.9% increase. The increase was wholly due to the changes in the rate of National Minimum Wages set by Central Government and was not related in any change in the number of staff working at the Centre. Total expenditure for 2023 was £134,222 (2022 - £127,611)

Overall, the finances for Lostwithiel Community Association for the year ended 31 August 2023 showed a deficit of £13,858 due, primarily, to the increases in the cost of wages and energy costs. However, as the LCA had a positive balance of funds as of 31[st] August 2023 that will allow it to continue to operate over the next twelve months.

LOSTWITHIEL COMMUNITY ASSOCIATION

ANNUAL ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2023

CHARITY NUMBER 1168401

LOSTWITHIEL COMMUNITY ASSOCIATION ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023

Contents

Page:

• 1 Information

• 2 Report of the Independent Examiner

• 3 Receipts and Payments Account

• 4 Statement of Assets and Liabilities

• 5-6 Notes to the Accounts

LOSTWITHIEL COMMUNITY ASSOCIATION 31 AUGUST 2023

General Information

Registered Charity Number 1168401 Country of Registration England Chairman Mr. B. McClarin Secretary Mrs. K. L. Mitchell Principal Office Lostwithiel Community Centre Pleyber Christ Way Lostwithiel Cornwall PL22 0HA

1

LOSTWITHIEL COMMUNITY ASSOCIATION INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES 31 AUGUST 2023

Independent examiner’s report to the trustees of the Lostwithiel Community Association

I report to the trustees on my examination of the accounts of the Lostwithiel Community Association for the year ended 31 August 2023.

Responsibilities and basis of report

As the charity trustees of the Trust, 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 Trust’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 giving me cause to believe that in, any material respect:

1. Accounting records were not kept in respect of the trust as required by section 130 of the Act; or

2. The accounts do not accord with those records: or

3. 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 order to enable a proper understanding of the accounts to be reached.

RoweDowrick Associates 7 Trenowah Road, Bethel St Austell, Cornwall PL25 3EB

Date: 3[rd] May 2024

2

LOSTWITHIEL COMMUNITY ASSOCIATION RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023

Note Unrestricted Funds 2023 Incoming resources Voluntary income: Sponsorship & Donations 2 9,135 From Charitable activities: Hall hire 36,461 Café sales 66,284 Sale of Books, Quiz nights etc 8,484 Other income 3 - _ Total incoming resources 120,364 _ Resources expended Charitable activities: Accountancy and bookkeeping fees 1,684 Advertising and PR 526 Café purchases 20,887 Fund raising events expenses 2,530 Cleaning 3,265 Insurance 1,387 Professional fees 525 Light & heat 23,829 Repairs and maintenance 6,487 Software costs 777 Sports equipment & coaching 924 Stationery and printing 709 Subscriptions and licences 1,011 Sundry costs 143 Telephone 2,151 Wages and salaries 65,256 Water and sewage 1,806 Bank & card charges (1,732) Depreciation of fixed assets 2,057 _ Total resources expended 134,222 _ Net movement in resources for the year (13,858) __		Total Funds 2022 22,211 33,794 50,850 4,834 4,000 _ 115,689 _ 854 - 17,147 2,312 3,188 1,371 2,268 8,323 26,095 656 1,038 780 553 640 1,342 57,261 1,278 237 2,268 _ 127,611 _ (11,922) _

The notes on pages 5 to 6 form part of these accounts

3

LOSTWITHIEL COMMUNITY ASSOCIATION STATEMENT OF ASSETS AND LIABILITIES AS AT 31 AUGUST 2023

Note Fixed assets Tangible fixed assets Fixtures and fittings Office equipment Total tangible fixed assets Current assets Café stock Debtors 4 Cash at Bank Total current assets Liabilities Creditors Social security costs Accruals & deferred income 5 Total current liabilities Net current liabilities assets Total net assets The funds of the charity As at 1 September 2022 (Deficit)/Surplus for the year As at 31 August 2023	2023 2023 £ £ 8,326 179 ______ 8,505 4,242 11,186 33,469 48,897 8,181 206 32,544 40,931 7,966 16,471 30,329 (13,858) ______ 16,471	2022 2022 £ £ 10,115 447 _ 10,562 2,187 9,178 20,253 31,618 2,232 454 9,165 11,851 19,767 __ 30,329 42,251 (11,922) _____ 30,329

Approved by the trustees on …………………………………….

…………………………………… Mr. B. McClarin - Chairman

…………………………………….. Mr A R H Cosway – Trustee (Treasurer)

The notes on page 5 to 6 form part of these accounts

4

LOSTWITHIEL COMMUNITY ASSOCIATION NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023

1. Accounting policies

Incoming resources

• All income is accounted for on an accrual basis.

Resources Expended and irrecoverable VAT

Expenses are charged to the receipts and payments account on an accruals basis. The costs so charged include VAT where applicable.

Tangible Fixed Assets

Tangible fixed assets are capitalized at cost and are depreciated to write off the cost over three years depending on the life expectancy of the equipment.

2. Sponsorship

Mr R Harrow (Christmas Grotto) Co-op (Christmas Grotto) Other donations (Christmas Grotto) Lloyds Bank Foundation Arnold Clark Automotive (Christmas Grotto) Feast – Creative Kernow (Christmas Grotto) Lostwithiel Memory Café Cornwall Community Grants (Badminton kit) Lostwithiel Town Council (changing rooms) Cornwall Community Grant (changing rooms) Cornwall Council (changing rooms) Landhydrock Estate (Profession fees) Landhydrock Estate (reading room) Mr R Harrow (reading room) Mr R Harrow National Lottery Ford Britain National Lottery (conference room) Lostwithiel Bingo Fundraisers Other Donations	2023 £ 500 150 1,632 980 - 450 1,000 924 - - - - - - - - - 525 - 2,974 ______ 9,135 ______	2022 £ - - - - 1,000 700 - - 5,000 5,000 1,000 2,000 3,000 1,000 1,000 1,504 250 342 200 215
		______ 22,211 ______

5

LOSTWITHIEL COMMUNITY ASSOCIATION NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023

1. Other Income

Job retention scheme grant Cornwall Council – Covid19 business support 4. Debtors Debtors relating to hall hire Prepaid expenses 5. Accruals & deferred income Accruals Deferred grant – Main Grants (Committee room refurbishment) Deferred grant – Cornwall Community grants (Architects fees) Deferred grant – Crowdfunder donations (Café replacement cooker appeal) Deferred grant – National Lottery Community Fund (Café replacement cooker)

2023 2022 £ £ - - - 4,000 ______ __ - 4,000 ______ _ 2023 2022 £ £ 9,422 7,592 1,764 1,586 ______ 11,186 9,178 ______ 2023 2022 £ £ 1,710 1,062 7,578 8,103 15,840 - 2,086 - 5,330 - ______ 32,544 9,165 ______ ___

6

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A {".,- :..-. Independent Examiner's Report", Report to the trusteesl members of Los I WlTtrI I CL LLMMufviffjI *l&soCAATIO On accounts for the year ended 31 ID23 Charity no (if any) IIL8Ltroi Set out on pages I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 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"). Responsibilities and basis of report I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent trhe c examiner's statement u appli ssl natio 250,0 qu ppli lifie of ble I. bod ] if no le. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination {oUx disc1￿￿.> which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act- or the accounts did not accord with the accounting records; or 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. Please delete the words in the brackets if they do not apply. Signed: Date: Name: Relevant professional qualification(s) or body Af4T IER Oct 2018

(if any): Address: ILI é1gtsLLgJ LL ASSO TÉS &itrlLL LS 3&6 Section B:" Disclosure Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER Oct 2018