BEDFORD HOUSE COMMUNITY ASSOCIATION
Charity number 1178692
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022
BEDFORD HOUSE COMMUNITY ASSOCIATION
CONTENTS FOR THE YEAR ENDED 31 AUGUST 2022
| Page | |
|---|---|
| Legal and Administration Information | 1 |
| Trustees' Annual Report | 2 - 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Accounts | 9-13 |
BEDFORD HOUSE COMMUNITY ASSOCIATION
LEGAL AND ADMINISTRATION INFORMATION FOR THE YEAR ENDED 31 AUGUST 2022
Registration Number:
1178692
Trustees
Sylvia Watson Chair Allan Mabert (appointed 22/10/2021) Ann Haigh (deceased 17/10/2022) David Jacob Dr Bernard Mooney Fiona Wheeler OBE June Chapman Olivia Lowe Satwant Singh (appointed 20/01/2022) Tony Oliva (resigned 21/04/2022)
Charity Offices:
Bedford House 4 Westbury Road Buckhurst Hill Essex IG9 5NW
Bankers:
HSBC 193-195 High Road Loughton Essex, IG10 4LF
Independent Examiners:
Community360 Winsley's House High Street Colchester CO1 1UG
1
BEDFORD HOUSE COMMUNITY ASSOCIATION
TRUSTEE ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2022
The trustees present their report together with the financial statements of the Association for the period ended 31 August 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 8 and comply with the Association's Constitution and applicable law.
Bedford House Community Association-Charitable Incorporated Organisation
The charity was incorporated in June 2018 as a Charitable Incorporated Organisation to take over the operations of Buckhurst Hill Community Association which was formed in December 1946. Its members had decided to convert to a Charitable Incorporated Organisation and the new charity began trading from September 2018.
Management Structure
The Association is a Charitable Incorporated Organisation registered charity, number 1178692. The organisation and operation of the Association are primarily governed by its Constitution. The Association employs a Chief Executive Officer who is responsible for all operational activity and for reporting regularly to the Board of Trustees. There are also several subcommittees that report regularly on their area of work.
Board of Trustees
The Board of Trustees is responsible for directing the policy and general management of the affairs of the Association. The Board meets quarterly. The trustees named on page 1 have served throughout the period unless otherwise stated. Appointment of trustees to the Board is governed by the Constitution. The Board has the power to fill vacancies arising during the year up to a maximum of 12 trustees.
The Board of Trustees notes with sadness the passing of Ann Haigh. Her selfless contribution as a trustee was exemplary.
Unpaid Volunteers
All members of the Board provide their services and support on a voluntary unpaid basis. There are other regular unpaid volunteers involved who assist in the day-to-day management and activities of the Association and some who may also assist with fund raising, events and other activities of the Association.
Investment Powers
The constitution authorises the trustees to make and hold investments using the general funds of the Association.
Constitution, Objects and Policies
Bedford House Community Association is governed by its Constitution and its objects are to promote benefits to the people in and around Buckhurst Hill, regardless of sex, sexual orientation, race or political, religious or other opinions, by advancing education and providing facilities for recreation and leisure-time occupations with the aim of improving the quality of life for those people, and to establish and maintain a Community Centre in the furtherance of the above objectives.
2
BEDFORD HOUSE COMMUNITY ASSOCIATION
TRUSTEE ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2022
The Association carries out this obligation by providing facilities for education and recreation classes across a wide spectrum of activities including Arts and Crafts: Drawing and Painting, Calligraphy, Learning to Draw, Oil Painting, Printmaking, Ceramics, Watercolours, Needlework; Physical activity: Aerobics, Ballet, Guided forest walks, Keep Fit for the Over 60’s, Pilates, yoga; Leisure: Art Appreciation. Particularly for older students, BHCA provides an invaluable opportunity for them to meet like-minded people and many comment that without BHCA, they would be isolated and cut off from society.
Funding
Essex County Council provides the premises at Bedford House at a peppercorn rent under a thirtyyear lease dated December 1998.
All other funding is generated from the activities of the Association.
Donations
The trustees are grateful to the Association's members for all the donations received during the year.
Management Review
In the 2021/22 brochure the Association offered 35 courses plus 1-day workshops over 3 terms covering 39 weeks.
Almost 400 full members have attended our classes over the whole year. In addition, almost 100 day members attended one of our workshops, hired a space or attended taster sessions. The Association was able to hold its Summer Exhibition on 24 July 2021 and this was a great success followed by a well-attended Summer School in August. In October 2021 we launched the art exhibition of donated works by a local artist Vivian Bewick, one of the Bedford House founders, with a Private View. Bedford House had received a grant from EFDC to digitalise the artworks and to set up the exhibition. The art collection is available on our website.
Additionally, the Association has the following membership club: • Buckhurst Hill Wine Club
The following organisations were also regular hirers of the Association's facilities: Leigh Languages, National Childbirth Trust (NCT), Ichthus After School Club, Sing and Sign - Kidstop (baby and toddler classes), JH Aerobics, Happy Yoga, DD Ballet, Reddo Recruitment, DSD Krav Maga Essex, Lilly Learning Centre – Trussel Tutoring (tuition for primary school age children), Martial Warrior, and Jubilee College (Reflexology).
Staff
The trustees would like to thank all the staff and tutors for all their efforts to re-establish the Association’s range of activities during a period of uncertainty following the Covid pandemic, and for their ongoing efforts to keep all our services running for both members and hirers.
Financial Review
The Association had an Unrestricted Surplus of £16,239 for the year (2021 loss £41,404). Unrestricted Reserves are £70,416 (2021 £54,177).
3
BEDFORD HOUSE COMMUNITY ASSOCIATION
TRUSTEE ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2022
The revenue from class fees and hirers has recovered with the re-introduction of activities following the cessation of Covid restrictions.
Due to the dedication of the trustees, the commitment of its staff, and the support of its students who are enthusiastic for the chance to learn new skills, the Association has overcome many obstacles over the years. The Association provides a valuable and high standard of educational service. It is the only one of its kind in the area and draws students from Buckhurst Hill and beyond. Although most students live within the authority of Epping Forest District Council and the London Borough of Redbridge, a substantial number come from surrounding districts in Essex and Greater London boroughs.
Public Benefit
The Association provides an opportunity for students/members to show their work at the annual Summer Exhibition to which entrance is free for all. The Exhibition is also an opportunity for prospective students to get a taste of the friendly atmosphere at Bedford House, and be inspired by the high standard of work produced here.
The Association is a charitable body committed to upholding the Objects of the Association. Fees for classes are kept as low as possible to remain within the reach of everyone in the neighbourhood and, being independent, the Association has been able to continue with many popular leisure and educational classes which are being phased out by local authorities. However, our Fees do not cover our full costs which are offset by donations, grants and income from Space Hire in order for the charity to be financially viable.
The Association aims to cover its annual running costs from grants, donations, membership and tuition fees and space hire although it is necessary to utilise our reserves for any deficit and for major items of repair to the Hall, for which it is responsible under the terms of the lease from the landlord, Essex County Council, and for replacement of equipment used by the classes. The Council is responsible for maintenance of Bedford House and to the Stables (the front part of the Hall).
The facilities are used regularly by 10+ outside organisations including Leigh Languages, National Childbirth Trust (NCT), Ichthus After School Club, Sing and Sign - Kidstop (baby and toddler classes), JH Aerobics, Happy Yoga, DD Ballet, Reddo Recruitment, DSD Krav Maga Essex, Lilly Learning Centre – Trussel Tutoring (tuition for primary school age children), Martial Warrior, and Jubilee College (Reflexology).
During term times Bedford House and Hall were used by almost 500 people per week. The policy of the Association is to continue to maintain and manage Bedford House and Hall, to organise educational and leisure-based courses at that location, and to enable the use of those facilities for other activities commensurate with its Objects.
Many of our members are seniors and the activities of the Association make a major contribution to reducing the impact of loneliness on elderly people and help with their mental and physical health especially following the Covid pandemic which impacted heavily upon this age group. The Association also worked with or supported other local groups including Buckhurst Hill Parish Council, Buckhurst Hill Residents Society, Buckhurst Hill Horticultural Society, Epping Forest District
4
BEDFORD HOUSE COMMUNITY ASSOCIATION
TRUSTEE ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2022
Risk Management
The trustees actively review on a regular basis the operational risks faced by the Association and believe that maintaining reserves in accordance with the reserves policy will, as far as the trustees can reasonably determine, ensure sufficient resources in the event of adverse conditions.
Future Developments
The trustees intend that the charity should continue to develop its programme of education and leisure courses, together with the provision of other facilities and activities for the benefit of the community.
Reserves Policy
It is the policy of the Association to try to maintain unrestricted funds at a level which equates to at least twelve months’ unrestricted overhead expenditure, excluding donated services. The unrestricted reserves at the balance sheet date amounted to £70,416 (2021 £54,177) and the unrestricted annual overhead expenditure, excluding the charge for donated services is estimated to be £100,000 for the 12 months ended 31 August 2023.
The trustees aim to restore the level of the reserves to this level over the medium term.
Statement of Trustees' Responsibilities
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the Association's incoming resources and resources expended during that year and of its state of affairs at the end of the year. In preparing those financial statements the trustees are required to:
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Select suitable accounting policies and apply them consistently;
-
Make judgements and estimates that are reasonable and prudent;
• State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Association will continue in operation.
The trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Association and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Association and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on 10th January 2023 and signed on their behalf by:
…………………………………………….
Sylvia Watson, Chair of the Board of Trustees
5
BEDFORD HOUSE COMMUNITY ASSOCIATION
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022
I report on the accounts of Bedford House Community Association for the year ended 31 August 2022 which are set out on pages 7 to 13.
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 Act) but that an independent examination is needed. The charities gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Association of Accounting Technicians.
It is my responsibility to:
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Examine the accounts under section 145 of the Charities Act,
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To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act, and
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To state whether particular matters have come to my attention.
Basis of independent examiner’s Statement
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 considerations 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 material matters have come to my attention which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of the 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 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.
Shelley-Marie Rudling FMAAT MIP AATQB for and on behalf of: Community360
Date 23rd January 2023
Winsley’s House, High Street, Colchester, Essex
6
BEDFORD HOUSE COMMUNITY ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022
| Note Incoming resources Donations and legacies 2 Income from charitable activities 3 Other income Income from investments Total incoming resources Resources expended Charitable activities 4 Cost of generating funds 5 Total resources expended Net Income/(Expense) As at 1 September 2021 As at 31 August 2022 |
2022 Unrestricted funds £ 40,852 210,108 3,520 31 254,511 236,940 1,332 238,272 16,239 54,177 70,416 |
2022 Restricted funds £ - 10,875 - - 10,875 10,875 - 10,875 - - - |
2022 Total funds £ 40,852 220,983 3,520 31 265,386 247,815 1,332 249,147 16,239 54,177 70,416 |
2021 Total funds £ 75,171 104,542 1,648 8 |
|---|---|---|---|---|
| 181,369 | ||||
| 222,233 540 |
||||
| 222,773 | ||||
| (41,404) 95,581 |
||||
| 54,177 |
The notes on page 9 - 13 form part of these financial statements.
7
BEDFORD HOUSE COMMUNITY ASSOCIATION
BALANCE SHEET AS AT 31 AUGUST 2022
| Note Tangible fixed assets 8 Current assets Cash at bank and in hand Debtors 6 Current Liabilities Creditors: Due within one year 7 Total current liabilities Net current assets Net assets Unrestricted funds 11 Restricted funds Total funds |
2022 £ 6,748 129,599 803 130,402 66,734 66,734 63,668 70,416 70,416 - 70,416 |
2021 £ 7,598 106,860 1,008 |
|---|---|---|
| 107,868 | ||
| 61,289 | ||
| 61,289 | ||
| 46,579 | ||
| 54,177 | ||
| 54,177 - |
||
| 54,177 |
These accounts have been approved by the Trustees on and signed on their behalf:
Signed: Date: Sylvia Watson
8
BEDFORD HOUSE COMMUNITY ASSOCIATION
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022
1. Accounting policies
Basis of the preparation of the accounts
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement on Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Cash flow
The financial statements do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under Financial Reporting Standard 1 "Cash flow statements".
Incoming resources
All material incoming resources have been included on a receivable basis i.e. they are included if the date receivable falls within the period covered by these accounts.
Resources expended
These have been analysed using a natural classification.
Accounting period
The charity was incorporated on the 7th June 2018.
Tangible fixed assets for use by the Association and depreciation
Tangible fixed assets for use by the Association are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Furniture and Equipment over 4 to 10 years, on a straight line basis. Fixtures and Fittings over 20 years on a straight line basis.
Going Concern
The trustees of the charity deem that there are sufficient funds available to continue operating on a going concern basis for the forseeable future
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
9
BEDFORD HOUSE COMMUNITY ASSOCIATION
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 AUGUST 2022
| 2. Donations and legacies Donations and fundraising Government grants Donated services 3. Income from charitable activities Class Income Membership and affiliation fees Room and hall hire Canteen income Winter Craft Fayre and Summer Exhibition Grants 4. Direct Charitable Expenditure Cost of running classes Tutor salaries and expenses Management and administration Cost of donated services Office salaries Recruitment and training Insurance Rates and water Repairs and maintenance Light and heat Printing Postage Stationery Telephone Accountancy & professional fees Consultancy fees Canteen costs Cleaning and waste disposal Sundry expenses and consumables Payroll costs Equipment Bank and credit card charges Depreciation |
Unrestricted Restricted 2022 2022 £ £ 5,374 - - - 35,478 - 40,852 - 153,769 - 6,031 - 44,254 - 883 - 2,667 10,875 210,108 10,875 Unrestricted Restricted 2022 2022 65,778 - 35,478 - 83,191 3,325 980 4,636 - 1,113 - 5,976 - 7,869 - 1,546 - 55 - 674 - 632 - 1,060 - - - 986 - 12,040 - 5,553 918 1,897 - 2,511 6,632 4,115 - 850 - 236,940 10,875 2,504 - |
Total 2022 £ 5,374 - 35,478 40,852 153,769 6,031 44,254 883 13,542 220,983 Total 2022 65,778 35,478 86,516 980 4,636 1,113 5,976 7,869 1,546 55 674 632 1,060 - 986 12,040 6,471 1,897 9,143 4,115 850 247,815 2,504 |
Total 2021 £ 2,489 37,204 35,478 |
|---|---|---|---|
| 40,852 | 75,171 | ||
| 153,769 6,031 44,254 883 2,667 2,504 |
89,303 3,809 10,168 - 311 951 |
||
| 210,108 | 104,542 | ||
| Unrestricted 2022 65,778 35,478 83,191 980 4,636 1,113 5,976 7,869 1,546 55 674 632 1,060 - 986 12,040 5,553 1,897 2,511 4,115 850 |
Total 2021 57,962 35,478 77,787 - 3,759 324 4,865 6,314 1,521 29 194 845 250 - - 16,299 4,163 2,429 7,776 1,188 1,050 |
||
| 236,940 | 222,233 |
10
BEDFORD HOUSE COMMUNITY ASSOCIATION
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 AUGUST 2022
| 5. Cost of generating funds Advertising & fundraising 6. Debtors Prepayments Debtors 7. Creditors Accruals Trade creditors Tax and social security Deferred income Deposits held 8. Tangible fixed assets Cost At 1 September 2021 Additions At 31 August 2022 Depreciation At 1 September 2021 Charge for the year At 31 August 2022 Net book values At 31 August 2022 At 31 August 2021 |
2022 £ 1,332 |
2022 £ - - Fixtures & Fittings £ 4,000 - 4,000 500 200 700 3,300 3,500 |
2022 £ 1,332 1,332 2022 £ 150 653 803 2022 £ 5,890 2,786 1,776 54,126 2,156 66,734 Furniture & Equipment £ 5,402 - 5,402 1,304 650 1,954 3,448 4,098 |
2021 £ 540 |
|---|---|---|---|---|
| 1,332 | 540 | |||
| 2021 £ 932 76 |
||||
| 1,008 | ||||
| 2021 £ 2,506 2,153 2,074 53,356 1,200 |
||||
| 61,289 | ||||
| Total £ 9,402 - |
||||
| 9,402 | ||||
| 1,804 850 |
||||
| 2,654 | ||||
| 6,748 | ||||
| 7,598 |
11
BEDFORD HOUSE COMMUNITY ASSOCIATION 0 NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 AUGUST 2022
9. Staff Costs
No remuneration was paid to trustees in the year, nor were any trustees' expenses reimbursed. No trustee is reimbursed for any reason for such things as parking costs, train or bus fares, or stationery, nor are they paid by the Association directly. Trustees always pay for any such expenses themselves for which the Association is extremely grateful.
| Wages and salaries National insurance Employee numbers are as follows: Tutor Office and other administration |
2022 £ 149,176 672 149,848 21 7 28 |
2021 £ 135,749 - |
|---|---|---|
| 135,749 | ||
| 23 6 |
||
| 29 |
Key Management Personnel
For 2022, a total of £26,204 was paid to key management personnel (2021 £21,011.74).
10. Other income and expenditure
| Other income and expenditure Funds Other Income Subscription fees and table money Total Income Other Expenditure Room and hall hire Wine, food and refreshments Payment to Bedford House Total Expenditure Total brought forward Total carried forward |
£ 1,305 1,305 320 1,160 - 1,480 1,191 1,016 Buckhurst Hill Wine Club |
£ 1,305 Total |
| 1,305 320 1,160 - |
||
| 1,480 | ||
| 1,191 | ||
| 1,016 |
Buckhurst Hill Wine Club is a member organisation and uses the Centre at reduced rates. The trustees of Bedford House Community Association have no control of income and expenditure.
12
BEDFORD HOUSE COMMUNITY ASSOCIATION
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 AUGUST 2022
| 11. Analysis of net assets between funds Fixed assets Current assets (excluding cash) Current assets - cash at bank Current liabilities |
Unrestricted £ 6,748 803 129,599 (66,734) |
|---|---|
| 70,416 |
12. Financial commitments and contingencies
There were no commitments to capital expenditure as at 31 August 2022
The Association has an operating lease in respect of its photocopier, with quarterly rental of £178.74.
The trustees consider that there are no material identifiable contingent liabilities that may impact upon the Association within the foreseeable future.
13. Donated services
The association has the use at a peppercorn rent of the premises at Bedford House under a lease granted by Essex County Council. In accordance with Statement of Recommended Practice "Accounting and Reporting by Charities" issued in 2005, the financial statements include the estimated value of this donated service under Income Resources, with an equivalant expense included under Resources Expended. The value has been estimated by the trustees by reference to prevailing commercial rental levels in the surrounding area.
14 Deposits held
As at the 31st August 2022, a total of £2,156 (2021: £1,200) was held for room hire deposits. This amount was made up of money held by the following:
| Ichthus £1,000 held VRSTY £572 held Martial Warrior £234 held Kidstop £50 held Fund analysis As at 1 September 2021 Unrestricted Funds 54,177 Restricted Funds Bewick Funds - IT Project - Total Funds 54,177 |
Trussel tutoring Smiley minds Reflexology Krave Maga Party Deposits Incoming Resources 254,511 4,367 6,508 265,386 |
Resources Expended (238,272) (4,367) (6,508) (249,147) |
£50 held £50 held £50 held £50 held £100 held As at 31 August 2022 70,416 - - |
|---|---|---|---|
| 70,416 |
15. Fund analysis
13