Meadow Vale Community Association
Financial Statements
Year ended 31[st] October 2024
MEADOW VALE COMMUNITY ASSOCIATION CIO
REPORT & FINANCIAL STATEMENTS
31 OCTOBER 2024
Charity Number: 1169752
Meadow Vale Community Association
Financial Statements
Year ended 31[st] October 2024
| Contents | Page |
|---|---|
| Reference and Administrative Information | 1 |
| Trustees’ Annual Report | 2-6 |
| Independent Examiner’s Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Funds | 10 |
Meadow Vale Community Association
Reference and Administrative Information
Year ended 31[st] October 2024
Legal and operating name
Meadow Vale Community Association CIO
Charity registration number
1169752 (England & Wales)
Principal Office and Contact Details
Meadow Vale Community Centre Meadow Vale, Speedwell Bristol BS5 7RF
Email: meadowvalecommunityassoc@gmail.com
Web: https://www.mvcaspeedwell.com/
Trustees Date Appointed Linda Ind 1[st] January 2016 Fiona Russell 7[th] December 2016 Paulette Blake 1[st] November 2019 Ashley George 4[th] September 2023 Jim Currie, Chairman 5[th] November 2018 Venisha Duncan 23[rd] July 2023 Becci Leung 15[th] April 2024
Independent Examiner
Karen Rose 10 Footes Lane Frampton Cotterell South Gloucestershire BS36 2JQ
Bankers: HSBC, 79 Regent Street, Kingswood, Bristol BS15 8LH
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Meadow Vale Community Association
Trustees’ Annual Report
Year ended 31[st] October 2024
1. Introduction
The trustees of Meadow Vale Community Association are pleased to present their annual report for the year ended 31[st] October 2024. This report outlines the activities, achievements, financial performance and future plans of the charity in its mission to serve the local community.
2. Objectives and Activities
The aim of Meadow Vale Community Association is to enhance the well-being of the local community by providing a welcoming space for recreational and social activities. The charity's charitable objectives are:
“To further or benefit of the inhabitants of the area of benefit without distinction of sex, sexual orientation, age, disability, nationality, race or of political, religious or other opinions, by associating together the said inhabitants and the statutory authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants. In furtherance of these objects but not otherwise, the trustees shall have power:
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To establish, or secure the establishment of a community centre and to maintain and manage the same (whether alone or in co-operation with any statutory authority or other person or body) in furtherance of the objects;
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To promote such other charitable purposes as may from time to time be determined. The charity shall be non-party in politics and non-sectarian in religion. The area of benefit shall be the Meadow Vale estate and the area within a 3 mile radius of the community centre.”
To achieve these objectives the charity:
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Offers accessible affordable community space for individuals and groups.
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Provides activities that promote social inclusion, exercise, well-being and recreation
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Supports vulnerable individuals through targeted services.
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Fosters community engagement and volunteer participation.
Key activities during the year included:
- Running weekly activities for young people, senior social meetups, and fitness classes of many types for all ages. These include judo for different age groups, toddlers football, beginners friendly yoga, baby
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Meadow Vale Community Association
Trustees’ Annual Report
Year ended 31[st] October 2024
sensory groups, a junior youth empowerment group, street dance and Indian dance classes, and cooking classes for adults with learning difficulties.
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Organising community events and celebrations. A major community fun day was run in August with close on 200 attending from many ethnic backgrounds
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Partnering with local organisations to provide advice and support services. Eg Local councillor surgeries
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Maintaining and improving the community centre facilities. Major upgrade to these as described below
3. Achievements and Performance
During the 2023-24 financial year, Meadow Vale Community Association made significant progress in fulfilling its objectives. Key achievements include:
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Securing £88,846 from the Bristol City Council Community Resilience Fund. This enabled a range of capital improvements to the site to complement the new multi- purpose hall
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Completely refurbished an unusable Storage Shed and converted it into three separate properly ventilated, well lit units available for our users.
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Resurfaced the car parking area including marked out car parking spaces
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Painted the exterior fencing and gates to make the centre more inviting
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Installed solar panels and radiant panels to replace an old gas boiler
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Installed a new pedestrian gate
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Redecorated the small hall funded from a £250 grant from the Bristol Rotary Club
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The whole centre has been designed to be fit for purpose, to accommodate disabled users and to be environmentally friendly.
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Starting in the autumn of 2023, organised and promoted community events and activities as the buildings became available.
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Implemented an on-line booking system for hall and room hire in anticipation of the centre becoming much busier once all the building works had been completed.
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Secured £5,000 funding from Quartet Community Foundation in June 2024 from the Social Action fund. This enabled us for a limited period to employ a P/T Community Engagement Worker to promote the centre to users and hirers in the local community, conduct surveys, facilitate community engagement and stimulate volunteering
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Meadow Vale Community Association
Trustees’ Annual Report
Year ended 31[st] October 2024
4. Financial Review
The charity's financial position remains stable. For the year ended 31[st] October 2024
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Total income was £111,849, consisting of £24,349 from events and activities, and £87,500 from grants and donations.
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Total expenditure was £103,480, consisting of £17,060 operational costs and £86,420 mainly capital works on the new building.
The trustees acknowledge the support of funders, donors, and volunteers who have contributed to the financial health of the charity.
5. Reserves Policy
It is the Trustees’ policy to hold cash and near-cash reserves equal to between six and nine months expenditure. It is also the Trustees’ policy to generate annual surpluses to cater for future requirements and growth.
As at 31 October 2024 the charity held free reserves of £7,226, representing five months expenditure. Any free reserves over and above that required for the reserves policy will be set aside for future improvements to the facilities and fabric of the buildings.
6. Public Benefit
The Trustees confirm that they ensure that they meet the objects of the Charity for the public benefit, as defined by the Charities Act 2011 and have proper regard to the guidance published by the Charity Commission in respect of the subject of public benefit.
7. History, Structure, Governance and Management of the Charity
The charity was registered as an unincorporated charity Meadow Vale Community Association, no 291937, on 12 May 1985. A second charity Meadow Vale Community Association. no 1169752, was registered as a Charitable Incorporated Organisation on 18 October 2016.
The assets and liabilities of the unincorporated charity no 291937 were transferred into Meadow Vale Community Association CIO, no 1169752, on 7 January 2017.
The charity occupies a site at Meadow Vale, Speedwell, Bristol BS5 7RF as a tenant of Bristol City Council under a community asset transfer. The site and facilities were considerably improved between 2018 and 2024 by the refurbishment of the original community centre hall, the construction of a
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Meadow Vale Community Association
Trustees’ Annual Report
Year ended 31[st] October 2024
second, larger hall and the landscaping of the site. The improvements were financed by grants from Bristol City Council, Enovert Trust, Garfield Weston Foundation, Quartet Community Foundation, John James Bristol Foundation, Sovereign Housing, Wessex Water, crowd funding by Rotary Club of Bristol, and smaller donations from individuals and organisations.
The two halls were completed in late 2023 since when they have become encouragingly busy hosting community events and activities. Current bookings of all kinds are running at over 100 sessions per month.
8. Governing Document
Meadow Vale Community Association, no 1169752, was founded as Charitable Incorporated Organisation on 18 October 2016.
The Trustees meet regularly to oversee strategic planning, financial management, and operational activities. Between meetings responsibility for the management of the charity lies with the Chair and the Treasurer who are the key management personnel of the charity.
Key governance aspects include:
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Ensuring compliance with charity regulations.
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Managing the finances of the organisation.
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Supporting staff and volunteers in delivering services effectively.
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Reviewing policies and risk assessments.
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Planning for growth in the range and depth of activities and events offered to the local community.
9. Risk Management
Trustees regularly log major strategic, business, financial and operational risks which the Charity faces and have established procedures to manage organisational risks to ensure compliance with best practice and legislation and to cover the delivery of projects.
10. Plans for the Future
Looking ahead, Meadow Vale Community Association aims to:
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Expand the range of activities to meet community needs.
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Secure additional funding to improve facilities and services.
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Strengthen partnerships with local organisations.
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Develop new volunteer opportunities.
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Meadow Vale Community Association
Trustees’ Annual Report
Year ended 31[st] October 2024
11. Declaration
The Trustees declare that they have approved this report and confirm that it complies with the charity's governing document and legal requirements.
Signed on behalf of the Trustees:
Signed James Currie Date 16th January 2025 James Curie, Chairman
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Meadow Vale Community Association
Trustees’ Annual Report
Year ended 31[st] October 2024
Examiners’ Certificate
Meadow Vale Community Association
Auditor’s Certificate of Accounts
Examiner’s name: Karen Rose
Address: 10 Footes Lane, Frampton Cotterell, South Gloucestershire. BS36 2JQ
Occupation: Education Business Manager (retired)
I have examined the accounts for Meadow Vale Community Association for the period
01 November 2023 – 31 October 2024
In my opinion, proper accounts have been kept of all money received and disbursed. I have examined all books, vouchers and records and confirmed bank and cash balances.
The summary below reflects a true position of the accounts.
RECEIPTS AND PAYMENTS £:p Total balance of Account at the start of the year (b/w) as per the last certificate/audit 7,952.40 ADD: Total receipts during the period 120,153.17 LESS: Total payments during the period 113,802.10 TOTAL BALANCE of account at the end of the period 14,303.47 FUND BALANCES AS AT YEAR END £:p Cash at Bank (Current Account) statement 31/10/24 13,790.82 Stripe payment received on 01/11/24 512.65 Cash at Bank (Deposit Account) Cash in Hand TOTAL BALANCE of account at the end of the period 14,303.47 ~~_—__~~ Signed: Date: 09/01/2025
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Meadow Vale Community Association
Trustees’ Annual Report
Year ended 31[st] October 2024
Income and Expenditure
Meadow Vale Community Association For the year ended 31 October 2024
| Account | Actual 2023-24 |
Actual 2022-23 |
|
|---|---|---|---|
| Income and Endowments | |||
| Income - Room hire - Regular hirers | £17,108 | £4,302 |
|
| Income - Parties and meetings | £5,994 | - |
|
| Income - Charitable activities | £125 | - |
|
| Income - Grants received - Fund raising | £750 | - |
|
| Grants and giftsreceived | £374 | - |
|
| Discount allowed on Sales | (£1) | - | |
| Total Income and Endowments |
£24,349 | £4,302 |
|
| Operating Costs | |||
| Fixed costs - insurance, energy, water, etc |
£5,785 | £3,854 |
|
| Cleaning,repairs & maintenance,etc | £5,393 | £1,325 |
|
| Statutory compliance- H&S, etc. | £133 | £761 | |
| Staff costs | £1,565 | - |
|
| Staff and Trustee expenses and training | £45 | - |
|
| Office costs | £2,286 | £168 |
|
| Costs ofputtingon charitable activities | £543 | £95 |
|
| Professional fees | £1,145 | £62 | |
| Bank charges and interestpaid | £71 | £62 |
|
| Depreciation | £94 | - |
|
| Total Operating Costs | £17,060 | £6,328 |
|
| Surplus/(Deficit) forperiod | £7,289 | (£2,026) |
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Meadow Vale Community Association
Trustees’ Annual Report
Year ended 31[st] October 2024
Balance Sheet
Meadow Vale Community Association As at 31 October 2024
| Account | 31 Oct 2024 31 Oct 2023 |
|
|---|---|---|
| Fixed Assets | ||
| Tangible Assets | £468,955 £382,669 |
|
| Total Fixed Assets Current Assets |
£468,955 £382,669 |
|
| Cash at bank and in hand | ||
| BankCurrentAccount- HSBC | £14,303 £7,952 |
|
| Total Cash at bank and in hand | £14,303 £7,952 |
|
| Debtors Control Account | £1,635 - |
|
| Prepaid commercial insurance | £420 - |
|
| £205 - |
||
| £16,563 £7,952 |
||
| Accruals and Deferred Income | £1,846 - |
|
| Trade Creditors | £2,182 - |
|
| Unspent amount of Quartet £5,000 grant June 24 |
£3,050 - |
|
| Unspent amount Wessex Water £1,970 Jul 2023 |
- £1,970 |
|
| Total Creditors: amounts falling due within one year Capital and Reserves |
£7,078 £1,970 |
|
| Net Current Assets(Liabilities) | £9,485 £5,982 |
|
| Total Assets less Current Liabilities |
£478,441 £388,651 |
|
| Net Assets | £478,441 £388,651 |
|
| CurrentYear Earnings | £7,289 (£2,026) |
|
| General Fund - Unrestricted | £5,571 £7,597 |
|
| £465,581 £383,081 |
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Meadow Vale Community Association
Trustees’ Annual Report
Year ended 31[st] October 2024
Meadow Vale Restricted and Endowment Funds
| Financial Year Received New Building (2023) Endowment Fund 2019-20 Bristol City Council - £5,000 and £4,800 2019-20 John James Foundation - fund new building 2019-20 Quartet Foundation - to fund Stage 4 architect 2021-22 BCC Community Infrastructure Levy Construction of new building 2021-22 John James - 2nd stage grant 2021-22 Enovert Trust - fund new building 2021-22 Garfield Weston - fund new building 2021-22 Quartet Foundation - Solar panels 2021-22 Bristol City Council - S106 Sports Fund 2021-22 Sovereign Housing Ass'n - fund new building 2021-22 Numerous small gifts - fund new building 2022-23 Quartet Foundation - Ecology Grant 2022-23 John James - Grant no 3 2022-23 BCC CIL grant - 2nd round grant 2023-24 BCC Regeneration grant - new building Total New Building (2023) Endowment Fund Restricted Funds 2022-23 Wessex Water - garden improvements 2023-24 Quartet Foundation - P/T Comm Engagement Worker |
At 1st November 2023 Income Expenditure Transfers Gains and Losses At 31st October 2024 |
|---|---|
| £9,800 £9,800 |
|
| £10,000 £10,000 |
|
| £5,000 £5,000 |
|
| £182,877 £182,877 |
|
| £10,000 £10,000 |
|
| £50,000 £50,000 |
|
| £20,000 £20,000 |
|
| £5,000 £5,000 |
|
| £40,000 £40,000 |
|
| £5,000 £5,000 |
|
| £3,404 £3,404 |
|
| £10,000 £10,000 |
|
| £10,000 £10,000 |
|
| £22,000 £22,000 |
|
| £82,500 £82,500 |
|
| £383,081 £82,500 - - - £465,581 |
|
| £1,970 £1,970 - |
|
| £5,000 £1,950 £3,050 |
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MeadowValeTrusteesReportAndAccounts2023-24.docx