## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 SEPTEMBER 2020**
## **Charity Number 1170953**
## **TRUSTEES INFORMATION**
**Trustees** Carl Lesh (Chairman) Steve Levin (Vice Chairman) Sarah Morgan (Treasurer) Audrey Gordon Claire Walker Sue Yearsley **Charity Number** 1170953 **Principle Address** Sunwood Drive Sherfield-on-Loddon Hook Hampshire RG27 0FP **Independent Examiner** Paul Cox 19 Wigmore Road Tadley RG26 4HH **Bankers** Barclays Bank PLC 8 Market Place Basingstoke Hampshire RG21 7QA
2
## **INDEPENDENT EXAMINERS REPORT**
## **Independent examiner's report to the Trustees of Sherfield Park Community Association**
I report on the financial statements of the trust for the year ended 30 September 2018, which are set out on pages 4 to 7.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act, and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner’s statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no major matters have come to my attention,
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met ; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Paul Cox ACCA Date: 18/11/2020 19 Wigmore Road Tadley Hampshire RG26 4HH**
3
## **RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2020**
|**Notes**
**RECEIPTS**
Grants and Donations
**1**
Fundraising activities
Hire Charges
Centre Conversion
NISA Lease
Other income
**PAYMENTS**
Fundraising and events
Employee costs
Administration
Maintenance
Utilities
Insurance & Licensing
Asset Purchases
**3**
Other (including Sundry)
Centre Expansion
Professional Fees
**Net receipts/**
**payments**
Cash funds at the
beginning of the year
**Cash funds at the end**
**of the year**|**Unrestricted**
**funds**
**Restricte**
**d funds**
**Total**
**2020**
**£**
**£**
**£**
11,661
8,233
**19,893**
4,616
1,200
**3,416**
56,940
**56,940**
20,869
**20,869**
0
**0**
92,886
9,433
**102,319**
1,547
**1,547**
29,377
3,705
**33,082**
1,182
**1,182**
36,534
**36,534**
9,306
**9,306**
3,147
3,723
**6,870**
249
**249**
5,447
**5,447**
897
**897**|**2019**
**£**
**121,453**
**8,385**
**75,715**
**-**
**21,550**
**3,428**|
|---|---|---|
|||**230,531**
**57,872**
**4,237**
**18,183**
**12,006**
**415**
**6,205**
**91**
**115,077**
**1,652**|
||**78,790**
8,976
**87,765**
14,096
**457**
**14,554**
64,829
**79,383**|**217,739**|
|||**14,793**|
|||50,036|
|||**64,829**|
4
## **ASSETS AND LIABILITIES FOR THE YEAR ENDED 30 SEPTEMBER 2020**
|**Notes**
**ASSETS**
**Cash Funds**
Cash and Bank
Cash Reserves
**Other Monetary assets**
Hire deposits held
**Fixed Assets for the Charity’s own use**
**3**
Gifted assets
Purchased assets
**Total Assets**
**LIABILITIES**
Refunds due
Tax liabilities
Supplier amounts due
**Total Liabilities**
**Net Assets**|**2020**
**£**
**12,125**
**60,266**
**72,391**
**16,798**
**51,561**
**68,359**
**140,750**
**-**
**-**
**-**
**-**
**-**
**140,750**|**2019**
**£**
**16,904**
**47,925**|
|---|---|---|
|||**64,829**
**16,798**
**46,632**|
|||**63,430**|
|||**128,259**|
|||**-**
**-**
**-**|
|||**-**|
|||**-**|
||||
|||**128,259**|
Approved by the trustees on the 30[th] June 2021 and signed on their behalf by:
**Carl Lesh (Chairman)**
5
## **NOTES TO THE ACCOUNTS**
## **1. Donations and Grants**
Donations kindly received in the year were all undesignated
Restricted fund grants were in respect of third party monies held under a tri-party agreement for the provision of youth services and the design.
## **2. Trustees expenses**
No expenses for trustees in 2020 (2019: £NIL) relating to expenses repaid to trustees.
## **3. Fixed Assets for the Charity’s own use**
## **Unrestricted assets - Cost**
||**Furniture**|**Computers**|**Sporting and**|**Total**|
|---|---|---|---|---|
||**Fixtures and**|**and other**|**Development**||
||**Fittings**|**equipment**|**equipment**||
|As at 1 October 2019|53,248|9,207|975|63,430|
|Gifted additions|-|-|-|-|
|Purchased additions|3,111|1,818|-|4,929|
|Disposals|-|-|-|-|
|**As at 30 September 2020**|**56,359**|**11,025**|**975**|**68,359**|
Sherfield Park Community Association (SPCA) Report
October 2019 to September 2020
The annual accounts were submitted to Paul Cox, the Independent Examiner and were agreed in March.
Overall Status
Not surprisingly, the second six months of the year (April 2020 to September 2020) was very different financially, as in every other way, for the SPCA. A profit of almost £10k for the first half of the year, turned into a £2.5 loss for the second and was only as low as this because of the £10K Grant received from the Borough during Lockdown #1.
Income
Room Hire income decreased from £43K for the first half of the year, to under £12K for the April to September period, with Willowdene Nursery and D&D Beauty allowed to open for just part of this time and a few groups able to return in September. Fortunately, our revenue from the Nisa Shop Lease remained consistent throughout and outside activities (food vendors, football etc) provided some additional income once allowed. Normal parties, events and fundraising activities, which generally contribute approximately £10K across the year, had to cease as of the end of March.
Expenditure
With normal annual expenditure required to run and maintain the Centre being approximately £100K we had to monitor and control costs carefully during the period of reduced income. We did manage to reduce employee costs by more than a half; we took advantage of the JRS Scheme and really appreciated the flexibility of our contract SPCA AGM 11.11.2018 2 employees who decreased their hours, then ramped them up when the extra work was required to ensure the Centre’s Covid-compliance. Our Utilities Bill was reduced from £6K, to £3K for the second half of the year, but this was still money that needed to be found. On paper, maintenance costs (annual estimate £20K) were only marginally reduced during the ‘closure’ as many of the contracts and periodic checks still needed to continue and we also took advantage of the June/July period to have the decoration of the Small Hall, Kitchen, Reception and Office completed. We spent £5K on Asset Purchases during the year, which included almost £2K for bollards to protect the lower car park, which was particularly vulnerable with reduced ‘normal’ activity (partially offset by a grant).
Since the end of the Financial Year covered by this review, we have put even more effort into predicting Income and Expenditure, with detailed analysis by Trusties on a monthly basis. Currently our financial position is good with the reserves we had built up relatively unscathed to provide a cushion from future unexpected occurrences.