## 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**
3. **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