AGM ANNUAL REPORT. 

Dear residents, partners and fellow directors, it is now nearing 12 months since we last met to report the challenges we faced and inform you of our hopes and dreams for 2021. 

I explained changes were afoot. During 2021 we welcomed enthusiastic board members but unfortunately lost others. We noted your suggestions to try to increase numbers as local residents on the board. I am pleased to announce we have since appointed Bryan Brown as our latest director. 

Can I now ask all the directors to stand and introduce themselves explaining their responsibilities to the board. 

We have also lost our previous staff members, Pat our manager and Abi our support and outreach worker. This has been due to retirement and career progression. The board wishes to thank them both and wishes them success and contentment in the future. 

As stated last year the board’s aim was to work with partners from other community centres to help us develop a vibrant centre. I am pleased to announce that this positive step has begun in earnest. We continue to work with Action Together, RBH, Working Skills Services, Youth Services and other Community Centres. In June we appointed a new member of staff, Andy, who is our caretaker/handyman. He has worked extremely hard to maintain, decorate and has started to re shape the outside facilities. 

In August Jane our new manager was appointed and started the transformation of the centre. She has achieved at least seventy five per cent of room hire and ensured that the board’s aim to help young families and youths has been targeted. Our boxing training delivered by one of our board members has been a huge success. I would like to thank all concerned in this venture. This is an exciting journey that the board is taking. 



I will now hand over to our new Chair Mr. Chris Furlong to inform you of the events that we have planned to take place over Christmas and our aspirations for 2022. 



**REGISTRATION NUMBER:** 

## **Back O'th Moss Community Centre Audited Financial Statements 31 March 2021** 

## **CLARE SMITH ACCOUNTANCY LTD** 

Accountants Hooley Bridge Mill Bamford Road Heywood OL10 4AG 



## **Back O'th Moss Community Centre** 

## **Financial Statements** 

## **Year Ended 31 March 2021** 

|**Contents**|**Page**|
|---|---|
|Management Committee Report|**11**|
|Statement of Income and Retained Earnings|**22**|
|Statement of Financial Position|**33**|
|Notes to the Financial Statements|**55**|
|**The  following  pages  do  not  form  part  of  the  fnancial**||
|**statements**||
|Detailed Income Statement|**1111**|
|Notes to the Detailed Income Statement|**1212**|





## **Back O'th Moss Community Centre** 

## **Management Committee Report** 

## **Year Ended 31 March 2021** 

The officer presents his report and the unaudited financial statements of the society for the year ended 31 March 2021. 

## **Principal activities** 

The principal activity of the club during the year was providing community services to OAP's. 

## **Officer** 

The officer who served the society during the year was as follows: 

Mr S McLoughlin 

This report was approved by the management committee on 22 November 2021 and signed on behalf of the board by: 

Mr S McLoughlin Member Secretary Registered office: Back O'Th Moss Community Centre 42 Coppy Bridge Drive Rochdale OL16 3AR 

**- 1 -** 



## **Back O'th Moss Community Centre** 

## **Statement of Income and Retained Earnings** 

## **Year Ended 31 March 2021** 

|||**2021**|2020|
|---|---|---|---|
||**Note**|**£**|£|
|**Turnover**||**42,142**|45,466|
|Cost of sales||**1,666**|1,761|
|||----------------------------|----------------------------|
|**Gross Proft**||**40,476**|43,705|
|Distribution costs||**–**|1,229|
|Administrative expenses||**35,521**|40,280|
|Other operating income||**15,205**|–|
|||----------------------------|----------------------------|
|**Operating Proft**||**20,160**|2,196|
|||----------------------------|----------------------------|
|**Proft Before Taxation**|**5**|**20,160**|2,196|
|Tax on proft||**–**|–|
|||----------------------------|------------------------|
|**Proft for the Financial Year and Total Comprehensive**||||
|**Income**||**20,160**|2,196|
|||==============|==============|
|||==============|==========|
|**Retained Earnings at the Start of the Year**||**31,361**|29,165|
|||----------------------------|----------------------------|
|**Retained Earnings at the End of the Year**||**51,521**|31,361|
|||==============|==============|
|||==============|==============|



**The notes on page59595 form part of these financial statements.** 

**- 2 -** 



## **Back O'th Moss Community Centre** 

## **Statement of Financial Position** 

## **31 March 2021** 

||||**2021**|2020|
|---|---|---|---|---|
||**Note**|**£**|**£**|£|
|**Fixed Assets**|||||
|Tangible assets|**6**||**2,471**|2,378|
|**Current Assets**|||||
|Debtors|**7**|**142**||393|
|Cash at bank and in hand||**48,560**||32,869|
|||----------------------------||----------------------------|
|||**48,702**||33,262|
|**Creditors: Amounts Falling due Within**|||||
|**One Year**|**8**|**(348)**||4,279|
|||----------------------------||----------------------------|
|**Net Current Assets**|||**49,050**|28,983|
||||----------------------------|----------------------------|
|**Total Assets Less Current Liabilities**|||**51,521**|31,361|
||||----------------------------|----------------------------|
|**Net Assets**|||**51,521**|31,361|
||||==============|==============|
||||==============|==============|
|**Capital and Reserves**|||||
|Proft and loss account|||**51,521**|31,361|
||||----------------------------|----------------------------|
|**Members Funds**|||**51,521**|31,361|
||||==============|==============|
||||==============|==============|



The society is satisfied that it is entitled to exemption from the requirement to obtain an audit under section 84 of the Co-operative and Community Benefit Societies Act 2014. 

The members have not required the society to obtain an audit of its financial statements for the year in question in accordance with the Act. 

The officer acknowledges their responsibilities for: 

- ensuring  that  the  society  keeps  proper  accounting  records  which  comply  with section 75 of the Co-operative and Community Benefit Societies Act 2014 (the Act); 

- establishing and maintaining a satisfactory system of its books of accounts, its cash holdings and all its receipts and remittances in order to comply with section 75 of the Act; and 

- preparing financial statements which give a true and fair view of the state of affairs of the society as at the end of the financial year and of its income and expenditure for  the  year  in  accordance  with  the  requirements  of  section  80,  and  which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the society. 

These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 

## The statement of financial position continues on the following page. **The notes on page59595 form part of these financial statements.** 

**- 3 -** 



## **Back O'th Moss Community Centre** 

## **Statement of Financial Position** _**(continued)**_ 

## **31 March 2021** 

These financial  statements were approved by the management committee and authorised for issue on 22 November 2021, and are signed on their behalf by: 

Mr S McLoughlin Member Secretary Registration number: 

**The notes on page59595 form part of these financial statements.** 

**- 4 -** 



## **Back O'th Moss Community Centre** 

## **Notes to the Financial Statements** 

## **Year Ended 31 March 2021** 

## **1. General Information** 

The society is registered under the Co-operative and Community Benefit Societies Act  2014.  The  address  of  the  registered  office  is  Back  O'Th  Moss  Community Centre, 42 Coppy Bridge Drive, Rochdale, OL16 3AR. 

## **2. Statement of Compliance** 

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'. 

## **3. Accounting Policies** 

## **Basis of Preparation** 

The  financial  statements  have  been  prepared  on  the  historical  cost  basis,  as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. 

The financial statements are prepared in sterling, which is the functional currency of the entity. 

## **Revenue Recognition** 

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. 

Revenue  from  the  sale  of  goods  is  recognised  when  the  significant  risks  and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. 

## **Tangible Assets** 

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent  accumulated  depreciation  and  subsequent  accumulated  impairment losses. 

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit  or  loss.  A  decrease  in  the  carrying  amount  of  an  asset  as  a  result  of revaluation,  is recognised  in other  comprehensive income  to the extent  of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. 

## **Depreciation** 

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: 

Plant & Machinery - 

25% straight line 

**- 5 -** 



## **Back O'th Moss Community Centre** 

## **Notes to the Financial Statements** 

## **Year Ended 31 March 2021** 

Fixtures & Fittings - 25% straight line Office Equipment - 25% straight line 

**- 6 -** 



**Back O'th Moss Community Centre** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year Ended 31 March 2021** 

**3. Accounting Policies** _**(continued)**_ 

## **Impairment of Fixed Assets** 

A review for indicators of impairment is carried out at each reporting date, with the recoverable  amount  being  estimated  where  such  indicators  exist.  Where  the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit  is  the  smallest  identifiable  group  of  assets  that  includes  the  asset  and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. 

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the society are assigned to those units. 

## **Financial Instruments** 

A financial asset or a financial liability is recognised only when the society becomes a party to the contractual provisions of the instrument. 

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 

Debt instruments are subsequently measured at amortised cost. 

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured  reliably,  the  investment  is  subsequently  measured  at  fair  value  with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. 

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 

Other  financial  instruments  are  subsequently  measured  at  fair  value,  with  any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. 

Financial assets that are measured at cost or  amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. 

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. 

**- 7 -** 



## **Back O'th Moss Community Centre** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year Ended 31 March 2021** 

## **3. Accounting Policies** _**(continued)**_ 

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 

**- 8 -** 



## **Back O'th Moss Community Centre** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year Ended 31 March 2021** 

## **4. Employee Numbers** 

The average number of persons employed by the society during the year amounted to Nil (2020: Nil). 

## **5. Profit Before Taxation** 

Profit before taxation is stated after charging: 

|**2021**|2020|
|---|---|
|**£**|£|
|**1,233**|853|
|==============||
|==========|==============|



||Depreciation of tangible assets|||**1,233**|853|
|---|---|---|---|---|---|
|||||==============||
|||||==========|==============|
|**6.**|**Tangible Assets**|||||
|||Plant and|Fixtures|||
|||machinery|and fttings|Equipment|**Total**|
|||£|£|£|**£**|
||**Cost**|||||
||At 1 April 2020|1,077|780|2,156|**4,013**|
||Additions|477|–|849|**1,326**|
|||------------------------|--------------|------------------------|------------------------|
||**At 31 March 2021**|1,554|780|3,005|**5,339**|
|||==============||==============|==============|
|||==========|==============|==========|==========|
||**Depreciation**|||||
||At 1 April 2020|360|390|885|**1,635**|
||Charge for the year|479|195|559|**1,233**|
|||------------------------|--------------|------------------------|------------------------|
||**At 31 March 2021**|839|585|1,444|**2,868**|
|||==============||==============|==============|
|||==========|==============|==========|==========|
||**Carrying amount**|||||
||**At 31 March 2021**|715|195|1,561|**2,471**|
|||==============||==============|==============|
|||==========|==============|==========|==========|
||At 31 March 2020|717|390|1,271|2,378|
|||==============||==============|==============|
|||==========|==============|==========|==========|
|**7.**|**Debtors**|||||
|||||**2021**|2020|
|||||**£**|£|
||Trade debtors|||**–**|251|
||Other debtors|||**142**|142|
|||||--------------|--------------|
|||||**142**|393|
|||||==============|==============|
|**8.**|**Creditors:** **Amounts Falling due Within One Year**|||||
|||||**2021**|2020|
|||||**£**|£|
||Trade creditors|||**566**|3,976|
||Social security and other taxes|||**162**|155|
||Other creditors|||**(1,076)**|148|
|||||------------------------|------------------------|
|||||**(348)**|4,279|
|||||==============|==============|
|||||==========|==========|



**- 9 -** 



## **Back O'th Moss Community Centre** 

## **Management Information** 

**Year Ended 31 March 2021** 

**The following pages do not form part of the financial statements.** 

**- 10 -** 



## **Back O'th Moss Community Centre** 

## **Detailed Income Statement** 

## **Year Ended 31 March 2021** 

||**2021**|2020|
|---|---|---|
||**£**|£|
|**Turnover**|**42,142**|45,466|
|**Cost of Sales**|||
|Purchases|**1,666**|1,761|
||----------------------------|----------------------------|
|**Gross Proft**|**40,476**|43,705|
|**Overheads**|||
|Distribution costs|**–**|1,229|
|Administrative expenses|**35,521**|40,280|
||----------------------------|----------------------------|
||**35,521**|41,509|
||----------------------------|----------------------------|
|**Proft on Society Trading**|**4,955**|2,196|
|Other income|**15,205**|–|
||----------------------------|----------------------------|
|**Operating Proft**|**20,160**|2,196|
||----------------------------|----------------------------|
|**Proft Before Taxation**|**20,160**|2,196|
||==============|==============|
||==============|==============|



**- 11 -** 



## **Back O'th Moss Community Centre** 

## **Notes to the Detailed Income Statement** 

## **Year Ended 31 March 2021** 

||**2021**|2020|
|---|---|---|
||**£**|£|
|**Distribution Costs**|||
|Transport|**–**|453|
|Activities, funded expenses and fundraising|**–**|776|
||--------------|------------------------|
||**–**|1,229|
|||==============|
||==============|==========|
|**Administrative Expenses**|||
|Wages and salaries|**18,390**|21,837|
|Rates and water|**1,396**|653|
|Light and heat|**3,689**|5,331|
|Insurance|**713**|516|
|Repairs and maintenance (allowable)|**2,799**|3,661|
|Other establishment expenses|**–**|1,725|
|Telephone|**582**|662|
|Ofice expenses|**–**|282|
|Printing postage and stationery|**551**|417|
|Staf training|**2,490**|–|
|Sundry expenses|**101**|385|
|Laundry and cleaning|**1,435**|2,461|
|Charitable donations (allowable)|**200**|–|
|Legal and professional fees (allowable)|**310**|–|
|Accountancy fees|**1,632**|1,497|
|Depreciation of tangible assets|**1,233**|853|
||----------------------------|----------------------------|
||**35,521**|40,280|
||==============|==============|
||==============|==============|



**- 12 -** 



## _**Our ref: CS/Back /T /C December 2021 Your ref:**_ 

_**Wednesday, 01**_ 

_**11:54**_ 

_Strictly private & confidential_ The Committee Back O’Th Moss Community Centre 

Dear Committee 

## **BACK O’TH MOSS COMMUNITY CENTRE FINANCIAL STATEMENTS FOR THE PERIOD ENDING 31ST MARCH 2021** 

Further to our recent discussions, I am pleased to enclose final accounts for the period ending 31st March 2021. 

In  summary,  the  turnover  for  the  year  is  £42,142  compared  to £45,466 in 2020 

Overhead expenses total £37,187. 

The most significant expenses are as follows: - 

Wages and salaries £18,390. 

Light and heat £3,689. 

Laundry, cleaning and waste removal, £1,435. 

The business also received grants of £15,205. 

The net profit for the period is £20,160 compared to £2,196 in 2020. 

I am not sure about the status of the business, to determine what tax is payable or by whom. 

If you are happy with the contents of the accounts and the attached letter, could you please sign your agreement on page 3 and return to me. (separate page) The copy of the accounts is for your records. 

Finally, I enclose a note of charges. 



Kind regards 

Clare Smith 

For Clare Smith Accountancy Ltd