## **Lostwithiel Community Association Charitable Incorported Organisation**
Company Number CE007112 Charity Number 1168401
**Financial Statements For the Year ended 31st August 2024**
Lanhydrock Accountancy
Practice Ltd 6 Queen Street Lostwithiel Cornwall PL22 0AB
## **Lostwithiel Community Association Charitable Incorported Organisation**
## **Financial Statements For the Year ended 31st August 2024**
|**Contents**|**Page**|
|---|---|
|Company Information|**1**|
|Independent Examiners Report|**2**|
|Statement of Financial Activities|**3**|
|Balance Sheet|**4**|
|Notes|**5 - 7**|
# **Lostwithiel Community Association Charitable Incorported Organisation**
**Financial Statements For the Year ended 31st August 2024**
Company registration number **CE007112** Registered Charity number **1168401** Registered Office **Lostwithiel Community Centre Pleyber Christ Way Lostwithiel Cornwall PL22 0HA**
Accountant and Independent Examiner **Lanhydrock Accountancy Practice Ltd Practice Ltd 6 Queen Street Lostwithiel Cornwall PL22 0AB**
Page 1
## **Lostwithiel Community Association**
## **Independent examiner’s Report to the Trustees**
I report on the accounts of the Lostwithiel Community Association for the year ended 31[st] August 2024, which are set out on pages 4 to 7.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees consider that an audit is not required for this year under the Charities Act 2011 (the Act) and that an independent examination is needed. It is my responsibility to:
- examine the accounts;
- to follow the procedures laid down in the General Directions given by the Charity Commission under the Act; and
- to state whether particular matters have come to my attention.
## **Basis of the independent examiner’s report**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent examiner’s statement**
In the course of my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:
- proper accounting records are kept (in accordance with the Act); and
- accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Brian Smith BA CPFA Lanhydrock Accountancy Practice Ltd 6 Queen Street Lostwithiel Cornwall PL22 0AB
**Page 2**
## **Lostwithiel Community Association**
## **Statement of Financial Activities (including Income and Expenditure Account) For the Year ended 31st August 2024**
|**Note**
**Incoming resources**
**Incoming resources from generated funds:**
_Voluntary income:_
Donations and Grants
**2**
_From Charitable Activiies:_
Hall hire
Café sales
Events income
Other income
**Total incoming resources**
**Resources expended**
**Charitable activities**
**Total resources expended**
**Net incoming resources before other**
**recognised gains**
**Gross transfers between funds**
**Other recognised gains**
**Net movement in funds**
**Reconcilliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**Funds**
**Total Funds**
**2024**
**2023**
**£**
**£**
50,615
9,135
42,199
36,461
63,920
66,284
6,744
8,484
4,242
0|
|---|---|
||167,720
120,364|
||147,110
134,222|
||147,110
134,222|
||20,609
-13,858
0
0
0
0|
||20,609
-13,858
9,840
23,698|
||30,449
9,840|
Page 3
## **Lostwithiel Community Association Charitable Incorported Organisation Balance Sheet as at 31st August 2024**
|**Note**
**Fixed Assets**
Fixtures and fittings
Office equipment
**Current Assets**
Debtors & Prepayments
**4**
Café stock
Cash in hand and at Bank
**Current Liabilities**
Creditors: amounts falling due within one year
Trade creditors
Social security costs
Accruals and deferred income
**5**
**Net Current Assets**
**Net Assets**
**The funds of the Charity**
Funds brought forward
Deficit/surplus for the year
**Total funds**|**£**
**£**
11,243
689
11,932
7,160
3,898
37,619
48,678
2,780
284
20,466
23,530
25,148
**37,080**
16,471
20,609
**37,080**
**2024**|**£**
**£**
8,326
179
8,505
11,186
4,242
33,469
48,897
8,181
206
32,544
40,931
7,966
**16,471**
30,329
-13,858
**16,471**
**2023**|**£**
**£**
8,326
179
8,505
11,186
4,242
33,469
48,897
8,181
206
32,544
40,931
7,966
**16,471**
30,329
-13,858
**16,471**
**2023**|
|---|---|---|---|
|||||
||||**16,471**|
||||30,329
-13,858|
||||**16,471**|
Signed on behalf of the Trustees
(Chair of Trustees)
Page 4
## **Lostwithiel Community Association Charitable Incorported Organisation**
## **Notes to the Financial Statements**
## **1 Accounting Policies**
## **Basis of Accounting**
The financial statements have been prepared under the historical cost accounting rules and the Statement of Recommended Practice: Accounting and Reporting by Charities 2015.
## **Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Desinated funds are unrestricted funds earmarked by the Management Committee for a particular purpose. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through terms of an appeal.
## **Incoming Resources**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts. Investment income is included when receivable.
Incoming resources from charitable trading activity are accounted for when earned.
Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
## **Resources expended**
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis
Page 5
**Lostwithiel Community Association Charitable Incorported Organisation**
## **Notes to the Financial Statements (continued)**
## **2 Donations and Grants**
|**Donations and Grants**|||
|---|---|---|
||**Total Funds **|**Total Funds**|
||**2024**|**2023**|
||**£**|**£**|
|Mr R Harrow|0|500|
|Co-op|0|150|
|Other donations|0|1,632|
|Lloyds Bank Foundation|0|980|
|Feast - Creative Kernow|0|450|
|Lostwithiel Memory Café|0|1,000|
|Cornwall Community Grants|1,000|924|
|National Lottery|0|525|
|LostwithielTown Council|5,000|0|
|Volunteer Hub Grant|7,000|0|
|Cooker grants released to income|5,920|0|
|Conference Room Grant realeased to incom|7,578|0|
|Architect fees Grant realeased to income|10,864|0|
|ESC Lottery Fund|395|0|
|Electrical grant|1,000|0|
|Other donations|11,858|2,974|
||50,615|9,135|
## **3 Resources Expended on Charitable Activities**
|Accounting and bookkeeping fees
Advertising and PR
Café purchases
fundrasining event expenses
Cleaning
Insurance
Professional fees
Light and heat
Repairs and maintenance
Software costs
Sports equipment and coaching
Stationery and printing
Subscriptions and licences
Sundry costs
Telephone
Wages and salaries
Water and sewage
Bank and card charges
Depreciation of fixed assets|**Total Funds Total Funds**
**2024**
**2023**
**£**
**£**
1,292
1,684
815
526
20,586
20,887
1,447
2,530
2,096
3,265
2,170
1,387
5,234
525
15,692
23,829
20,309
6,487
518
777
216
924
481
709
531
1,011
658
143
1,382
2,151
68,944
65,256
1,890
1,806
514
-1,732
2,334
2,057|
|---|---|
||147,110
134,222|
Page 8
## **Lostwithiel Community Association Charitable Incorported Organisation**
## **Notes to the Financial Statements (continued)**
|**4**
**Debtors**
Debtors relating to hall hire
Prepaid expenses
**5**
**Accruals and deferred income**
Accruals
Deferred grant - Main grants
(Committee room refurbishment)
Deferred grant - Cornwall Community
Grants
(Archtiects fees)
Deferred grant - Crowdfunder donations
(Café cooker appeal)
Deferred grant - National Lottery
(Café cooker)
Deferred Grants - Centre Roof
Deferred Grants - Mitchel
(CCTV)
Deferred Grants - Duchy of Cornwall
(Dance Studio)
Deferred Grants - Lostfest
(Garden)
Defferred Grant - R Harrow
(Bid Writing)|**2024**
**2023**
**£**
**£**
7,160
9,422
0
1,764|
|---|---|
||**7,160**
**11,186**|
||**2024**
**2023**
**£**
**£**
720
1,710
0
7,578
4,976
15,840
1,496
2,086
5,330
4,091
0
2,500
0
3,684
0
1,000
0
2,000
0|
||**20,466**
**32,544**|
Page 7