**Charity Registration No. 1181953** # **LONGFORD PARK COMMUNITY ASSOCIATION** # **TRUSTEES’ ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Mrs S O’Rourke Ms E Houston Mr A Ferrara Mrs K Bell **Charity number** LPCA is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission in England & Wales, Number 1181953 **Principal address** **Independent examiner** **Bank** Longford Park Community Centre Hobby Road Bodicote Banbury OX15 4GJ Malcolm W Rogers, MSc, CEng, ACIE 24a, Friars Walk, Tring, Hertfordshire, HP23 4AY Barclays Bank Plc 32 Bridge St Banbury Oxfordshire OX16 5PN LPCA Rep and Accts FY2223 12Jan24 Page 1 of 5 30-11-23 ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 – 5| |Independent examiner's report –_separate document_|| |Accounts for FY23/24 –_separate document_|| |Statement of financial activities|7| |Statement of Assets and Liabilities
|8| |Notes to the financial statements|9 - 11| LPCA Rep and Accts FY2223 12Jan24 Page 2 of 5 30-11-23 ## **LONGFORD PARK COMMUNITY ASSOCIATION** ## **TRUSTEES' ANNUAL REPORT** ## **FOR THE YEAR ENDED 31 MARCH 2023** The trustees present their annual report and Accounts for the year ended 31 March 2023. The financial statements have been prepared on the Payments and Receipt basis, in accordance with the guidance provided by the Charity Commission (England & Wales). ## **Objectives and activities** The charity's objects are: Support and promote Longford Park and its surroundings Run the Community Centre and organise family and community events across the estate for the benefit of its residents Advance the education, social cohesion and social welfare of all residents and visitors ∙ Make Longford Park a better place to live. There has been no change in these during the year. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. We have continued to keep a few regular hirers and have also filled our calendar with quite a few new groups. We want to help protect the current regular hirers’ business by not having too many of the same groups but wanting to make sure we have a diverse selection of groups for residents. ## _**Performance and Benefits**_ The CIO’s level of activity has increased substantially since the last financial year, with an almost four-fold income increase(mostly from lettings, the CIO’s principal charitable activity). Providing a very local and attractive venue with modest fees is very valuable to all the local charities, groups, families, companies, etc. enabling them to run their events attract high participation and contribute to benefits and improved financial status planned by the hirer. More generally, a busy attractive hub in the Park supports social cohesion for all who live, work or are otherwise connected. We have a good variety of groups at the centre that will suit a range of residents and we will continue to seek different groups for the community. ## _**Financial review**_ Review of the Charity’s Financial Position at the end of the Financial Year At Year End, the Charity held £54,754 in Bank and Payment system Accounts; after adding physical assets and deducting reportable creditors and Provisions, the overall Net Assets were £49,047. As shown in the “Receipts and Payments” accounting basis used by LPCA, Receipts totalled £50,293 and Payments totalled £55,181, giving a deficit of £4,887. The Trustees have studied the underlying transactions and trends, and are confident that LPCA remains a Going Concern, and is able to pay its bills and other obligations as they arise. Two unusual situations became clear during the production of these accounts. Since LPCA entered its lease with Cherwell District Council on 16Dec19, it has neither received any bills from N-Power nor paid any amounts to the Company, despite several reminders. However, N-POWER has delivered a final demand for £19,000 which is still in dispute – further details are shown in the Notes to the Accounts. Similarly, no bills have been received from Castle Water, so LPCA has estimated the amount due to 31Mar23 to be around £2500. The figure £2,500 is an estimate based on the actual charges paid by three LPCA Rep and Accts FY2223 12Jan24 Page 3 of 5 30-11-23 charities of comparable size and nature over the period 16Dec19 to 31Mar23 (which of course includes the whole of the COVID period.) Therefore, this year’s accounts shows - a. £19,000 transferred from general Unrestricted Reserves to Designated Reserves (for unpaid Energy charges) and a matching Reportable Liability of £19,000. - b. £2,500.00 transferred from general Unrestricted Reserves to Designated Reserves (for unpaid Water charges) and a matching Reportable Liability of £2,500. ## Reserves Policy It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. Expenditure for 22/23 shown in these accounts was £55,181, leading to target reserves in the range £13,800 to £27,600. Closing Reserves (after deducting reportable liabilities / designated funds) amount to £32,047, which lies just above the upper bounds of the policy. (Once the two utility situations have been resolved, the target Unrestricted Reserves range will need to increase accordingly.) ## **Assessment of Risks** The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Plans for future periods** Our strategy has been to operate the commercial hire of the community centre as efficiently as possible, to keep hire costs down for Longford Park residents wanting to use the building. We are now utilising all the rooms we have, including hiring out the library. We also aim to increase our volunteers and membership numbers. The hall is starting to be used for bigger parties, weddings, family gatherings etc, and we continue to monitor and encourage this. The centre should be able to support itself financially and allow the LPCA an income with which to carry out our charitable objectives. ## **Structure, governance, and management** The charity is a CIO incorporated on 11th February 2019. The Governing document is a Constitution. which was approved by the Charity Commission on formation. The trustees who served during the year and up to the date of signature of the financial statements were: Mr A O J Ferrara Ms K Bell (Resigned 31 December 2022) Ms E Houston Mr R Fenion (Appointed 1 May 2020 and resigned 31 December 2022) Ms S O'Rourke (Appointed 20 September 2020) Trustees are sought from the local area, Longford Park, however, trustees from other areas may be appointed should the trustees see fit. Trustees are elected from the Membership, and on appointment are given copies of the Constitution and other documents – procedures for election and induction are set out in paragraphs 13 and 14 of the Constitution. The day-to-day operations are undertaken by a group of volunteers, mainly consisting of the trustees. A big thank you to all the volunteers for the immeasurably valuable work you have done for our charity! Your dedication is essential to the work that we do. We cannot do it without you. The trustees have full oversight over operations. LPCA Rep and Accts FY2223 12Jan24 Page 4 of 5 30-11-23 The trustees' report was approved by the Board of Trustees on 30.11.2023 ## Mrs S O'Rourke **Trustee** Date: ............................................ LPCA Rep and Accts FY2223 12Jan24 Page 5 of 5 30-11-23 rylil?Lè R, & CHARITY COMMISSION FOR ENGLANO ANO WALES 1181953 Receipts and payments accounts OVW2( 3Jm31>)23 CC16a Section A Receipts and payments UnMStrlcf*d A•sfrfrt•d ÈndDvJm•nt st y•ar IA 8 E Al R•r•l Gr￿1% sty) Sub ¢otsllGros5 Inmm¢lorAII 50293 47*35 t•bl•l. 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Th￿￿tran￿￿b)n%IltSkn¥D1fi the￿i0￿tsa% aLOaft rtteprtdl%i￿1￿w￿iThIltd1tOMlhe LUwr(rt•ta FbPOWtRshxtty ro¢eWn4lthek dpfft•iidseitlwoL* thtsitu•lio ntymbersl. no f*ithei tfrtdMIlQilohl the1451 18wthhs. Ind¢Jde •ndSewtw¥t*fA. 5k)Èè*ttknAihvfAmrnwl¥CErrtFeh•*¥pn 16DK1g.th•Ch￿tr threeothw char**S o151￿&ar ThEeKlM*ed4nn￿￿ Otw*er•Dd st*￿￿￿￿(￿n FY73n40nward5 m*chkni pMOand iiouptodtto LPCA k¢¢yni$rn_viOJaiaD24_Sld￿ycMJT 2￿112024 13'.58 ## **LONGFORD PARK COMMUNITY ASSOCIATION** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF LONGFORD PARK COMMUNITY ASSOCIATION** I report to the trustees on my examination of the financial statements of Longford Park Community Association (the charity) for the year ended 31[st] March 2023. ## **Responsibilities and basis of report** As the trustees of the CIO you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the Act). I report in respect of my examination of the CIO’s accounts carried out under section 145 of the Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept as required by section 130 of the Act, or - 2 the accounts do not accord with those records. I confirm there are no other matters to which attention should be drawn to enable a proper understanding of the accounts to be reached. ## **Malcolm W Rogers, MSc, CEng, ACIE** Signed [Signed on original] Dated …18Jan24………………. LPCA Rep and Accts FY2223 12Jan24 Page 6 of 6 30-11-23