Charity Registration No. 1181953
LONGFORD PARK COMMUNITY ASSOCIATION TRUSTEES’ ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
LPCA Trustees Annual Report FY2324 Page 1 of 5 14Nov24
LONGFORD PARK COMMUNITY ASSOCIATION
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and Accounts for the year ended 31 March 2024.
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 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 £61,599 in Bank and Payment system Accounts; after adding physical assets and deducting reportable creditors, the overall Net Assets were £52,677. As shown in the “Receipts and Payments” accounting basis used by LPCA, Receipt totaled £57,301 and Payments totalled £50,679, giving a surplus of £6,622.
Note that some technical presentational changes have been made to this year’s accounts compared with last year.
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The Accounts now include Security Deposits as a named line item in both Receipts and Payments, and shows the balance of receipts less refunds as a Creditor..
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Presentation of the R&A accounts shows formal R&A Receipts, Payments, Surplus and balances, but a separate small section shows financial information that is not a formal part of R&P accounting, in particular the substantial provision for Utility invoices not yet received and the Trustees’ assessment of the current value of tangible physical assets (Fixed Assets). This information is shown in the context of ‘Trustee assessment’ balances, and clarifies the derivation of Overall net Asset value.
LPCA Trustees Annual Report FY2324 Page 2 of 5 14Nov24
However, 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.
One unusual situation described in last year’s TAR has continued through the current year. There is a considerable backlog of invoices from Energy and Water suppliers, and this year’s accounts include a substantial provision of £23,000 to cover the Trustees’ estimate of the liability for these uninvoiced costs.
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 23/24 shown in these accounts was £50,679, leading to target reserves in the range £12,670 to £25,340. Closing Cash Reserves (by Charity Commission definition) amount to 61,599, and even after deducting agreed provisions of £26,433, the CIO has £35,166 non-designated reserves, which comfortably exceed the target band.
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.
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:
Ms E Houston Mrs N Dewberry Mrs S O'Rourke Mrs P Foster
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 Constitutid 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 Trustees Annual Report FY2324 Page 3 of 5 14Nov24
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mrs S O’Rourke Ms E Houston Mrs N Dewberry Mrs P Foster Charity number 1181953 Principal address Longford Park Community Centre Hobby Road Bodicote Banbury OX15 4GJ Independent examiner Malcolm W Rogers, MSc, CEng, ACIE 24a, Friars Walk, Tring, Hertfordshire, HP23 4AY Bank Barclays Bank Plc account 32 Bridge St Banbury Oxfordshire OX16 5PN
LPCA Trustees Annual Report FY2324 Page 4 of 5 14Nov24
The trustees' report was approved by the Board of Trustees on 14.11.2024
Mrs S O'Rourke Trustee
[Signed on Original]
Date: 14[th] November, 2024
LPCA Trustees Annual Report FY2324 Page 5 of 5 14Nov24
LONGFORD PARK COMMUNITY AssoaATION ILPCA) ANNUAL ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024 LKA JS AN VNINCORPORATED CIIARITY 1$ Re$tW•d wlth thè Chath C¢wnmlsskm ID E*nd & W LFCUui%FY2324Vlll55uod34Nw24 I6 2&1V2D24 U.'Ii
Section A Receipts and payments Toal F4h TNS Y¢•r Tgtal FIAd5 Ixj Al Recelpt5 Charrt?bl?ti¥Ib 54XuiltyVep¢sitsRvthd CrthDr Irtsm 4175 57A)i 50295 S771 50,29J IOD LliectCostsotEv1s indAcUfftI• 29.743 41.167 z?,np 5,941 2.052 SttwllvtYWSlty P4kl 50,479 ,•25 2Y NetRecelpts. A5 TraMf•rnb•tw••ThfwA A6 54,971 59066 Y•078 thts Yt&rEnd Oebtorn+ ci¢d0 + A•tsJ•sty¢•r end Updit•5 th1sy••f Debton CMdltornthh YMrÉ•Jd 224 5.707 •J21 TOTALrA$sl571wYffAl1 IND 677 4• LPC**£ctsFY2824VlIlssI14N0V24 Page21¢6 2511U2024 14.11
Section B Statement of asset5 and lia bilities at the end of the period Bl C•sh funds P6 7S4 Lmtwr 2 Othw bMn4tsry •5ts LIttly TOTAL NET FINANaAL ASS5 91.734 •51SSESSEDOTHIRCIEoif015 Swdnc Credltor5 Prov151ws •id Lh•r U•blld•s -1.107 4). 41. L*t y• 84Ats•ts VWih•d lorth• i?.$ LPCA TOTAL NEf ASS5 49,N7 sil bv #MOrr•vt•l1Qb1hl o14Uthotrurt• Prlnt N•m• Dateof approval tWAIJ IMvv-24 IUo¥-24 LPCPAcctsFY2324V11155ueO14Ncw24 Pagè301É 2S11112024 14:11
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6b 5PECIFICOAILED NOTE5 Tatyl T14•V•w T•i•l I•Av• Fur C4f•nry 591 419 W4t4t 520 Ulht •nOH••t 17.968 5X i?,ao? S•nuryw•rt• O 2$1 645 WlnthyCkn•Th S,LY9 H•alh &Saf•ty 58S 2.634 T•i 19.74J Lrf•l Fws STRIPE F•oPakl 121 510 5L*sCDPtbx 1,345 679 FrfW4s4r F Rqnt Rouff& 16 sidry EXF 42 632 291 TBA To 17.737 9WI Pa8e5trf6 2511112024 14.11
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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 2024.
Responsibilities and basis of report
As the trustees of the charity 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 on original]
Dated 14[th] November, 2024………………….
LPCA Rep and Accts FY2223 12Jan24 Page 1 of 6 14/11/2024