2025-04-30-accounts - Winscombe Community Association

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WINSCOMBE COMMUNITY ASSOCIATION
ACCOUNTS
YEAR TO 30th APRIL 2025
reg. charity no. 1186290
280231/R
Trustees:
Mark Payne
Janet O'Brien
Irene Threasher
Ian Vibert
Mandy Turner
Michael Turner
Caryn Richie
Jayne Smith
Annette Clements
Rob Ireland
Nicky Ireland
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WINSCOMBE COMMUNITY ASSOCIATION
ACCOUNTS
YEAR TO 30th APRIL 2025
YEAR ENDED 30 APRIL 2025
I report on the accounts of the Association for the year ended 30 April 2025, which are set out on pages 2 to 10.
Respective responsibilities of trustees examiner
As the charity’s trustees you are responsible for the preparation of the accounts; you consider that the audit requirements of section 145 of the Charities
Act 2011 do not apply. It is my responsibility to state, on the basis of the procedures specified in the general directions given by the Charity
Commissioners under section 145(5)(b) of the Act, whether particular matters have come to my attention.
Basis of independent examiners report
My examination was carried out in accordance with the general direction given by the Charity Commissioners. An examination includes a review of the
accounting records presented with those records. It also includes consideration 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 connection with my examination, no matter came to my attention:
(1) which gave me reasonable cause to believe that in any material respect the requirements
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.
However, I do draw attention to the fact, that as noted in the Treasurer's report on page 3, funding has not been secured in full to meet total spend on
the new build project. The Trustees, however, are confident on the receipt of £250,000 Parish Council loan, or failing receipt are certain alternative
funding arrangements can be found to meet obligations. The funding gap is c.£133,000 as at the year end, which would be more than made up by the
£250,000 loan.
4 Valley House Courtyard Jane Hall
Union Street Independent
Cheddar Examiner
BS27 3NS
Registered Charity No
1186290
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WINSCOMBE COMMUNITY ASSOCIATION
Treasurer Report
YEAR TO 30th APRIL 2025
Objectives and activities:
As a reminder our objectives under our constitution are to:
Promote the benefit of the inhabitants of Winscombe & Sandford and the neighbourhood. Associate with volunteer organisations, local authorities
and inhabitants to advance education and to provide facilities in the interest of social welfare for recreation and leisure time occupation. Manage
and maintain a Community Centre for activities promoted by the Association and its constituent bodies.
This has been a significant year for the charity, with construction having started on the WiNSpace project for a new build Centre to replace the
annex buildings. We have also sold the Headmaster's house (HMH), to help fund the project. The Old School will remain as an important
community asset with a priority on youth provision for its spaces.
Finances
We sincerely thank all our current Users of the facilities who have stayed with us during this build phase. Our rental income has held up well and
it is amazing to see how supportive everyone has been, making the best of the limited facilities we have had and showing flexibility,co-operation
and community spirit. The Parish Council who were based in the HMH moved temporarily to accomodation at Thatchers cider and will be returning
once the new build is complete.
Overall, net income less expenditure (excluding the WiNSpace new build project and the HMH sale) held up at £10,175. A fantastic effort which
included over £5,600 from fundraising events.
The WiNSpace project is well under way, with a contract for just under £1.8m in place and completion of the new build scheduled for end October
2025. Funding has been identified to fully meet this cost and has either been paid or is committed. The exception to this is a £250,000 loan which
is subject to approval by the Parish Council(PC) and Secretary of State. The Trustees strong expectation is that approval will be given with PC
approval and submission of a loan application made to government, post year end. In the unlikley event that this is not approved, we are satisfied
that the funding gap could be made good by a short term bridging loan and subsequent sale of the Old School building.
The accounts show the grants and WiNSpace expenditure on a cash-basis; i.e. what has been paid and received during the current financial year.
The only exception is where expenditure has been incurred against grants due specifically for those costs. In these cases a debtor for that amount
of the grant has been accounted for.
We are carefully monitoring our cashflow and have identified funding to match all our contracted spend for the build, with just fundraising for fit-out
remaining.
We thank all our donors and supporters who are listed where appropriate, on the WiNSpace website www.WiNSpace.org.uk
Income that has been provided for the WiNSpace project is identified seperately in our record keeping and accounts, and is shown as "restricted"
funds.
Structure, governance and management
We thank Jen Saunders for her time as a Trustee; particularly giving time with a young family. We are delighted to welcome as Trustees, Nicky
and Rob Ireland who moved to the village this year and represent the younger generation. We are keen that the community centre is for everyone
across all ages, so particularly welcome them to our Trustee team. Post year end, Sue Henry has also become a Trustee.
Summary
So, in summary, the finances of the WCA remain in a sound position. Our investment in the future with the new build is well under way and we
sincerely thank our users, most of whom have stayed with us over this construction period, despite the build disruption. We also welcome all our
new users who have started regular bookings during the year.
Finally, I thank Jane Hall for examining the accounts and propose her as an independent examiner for next year.
Amanda Turner, Treasurer
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reg. charity no. 1186290 2025 £ INCOME Rents Received 37,223 Fund Raising 5,666 Friends Scheme 185 Donations (see note 1) 93,155 Other grants (warmspace) 605 Warmspace National Grid grant 0 WiNSpace grants (see Note 1) 949,813 Interest Received 1,749 Sale headmaster house(part payment) (se note below) 131,616 1,220,012 EXPENDITURE Repairs & Maintenance 1,232 Renewals & Improvements 0 Running costs 17,634 Housekeeping & Bookings 14,218 Miscellaneous Expenses 1,564 Warmspace Grant expenditure 605 WiNSpace outgoings (see note 1) 676,508 711,761 508,251 Income to WiNSpace Fund 478,487 Income to Accumulated Fund (see note 3) -236 Income to General Fund (see note 3) 30,000 508,251 Note: WINSCOMBE COMMUNITY ASSOCIATION INCOME & EXPENDITURE ACCOUNT YEAR TO 30th APRIL 2025	2024 £ 41,129 9,566 281 3,280 500 10,000 3,715 68,471 2,431 8,553 18,946 12,503 557 10,000 79,794 132,784 -64,313 63,810 -128,123 -64,313

Note: The Headmaster house sold for £196,465 net of costs.£64,849 is held by North Somerset Council and will be paid to the WiNSpace project during the financial year 2025/6. Post year end this amount has now been paid.

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WINSCOMBE COMMUNITY ASSOCIATION
BALANCE SHEET
YEAR TO 30th APRIL 2025
2025 2024
£ £ £ £
FIXED ASSETS
Tangible Assets (see Note 5) 35,000 35,000
CURRENT ASSETS
Debtors (restricted) (see note1) 356,283 -
-
Deposit Account
Bank Account (restricted) 141,793
Bank account (unrestricted) 95,911 84,605
-
Petty Cash
593,987 84,605
CURRENT LIABILITIES
Defibrillator Fund 404 404
Other Creditors 1,131 -
1,535 404
NET CURRENT ASSETS 592,452 84,201
NET ASSETS 627,452 119,201
FINANCED BY:
General Funds
balance brought forward 20,000 20,000
Increase/decrease for Year 30,000
Balance Carried Forward 50,000 20,000
WiNSpace Fund
balance brought forward 63,965 155
Increase/decrease for Year 478,487 63,810
Balance Carried Forward 542,452 63,965
ACCUMULATED FUND
Balance Brought Forward 35,236 163,359
Net Surplus/(deficit) for the Year - 236 - 128,123
Balance Carried Forward 35,000 35,236
627,452 119,201
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WINSCOMBE COMMUNITY ASSOCIATION
WiNSpace
INCOME & EXPENDITURE ACCOUNT (note 1)
YEAR TO 30th APRIL 2025
2025 2024
£ £
INCOME
Donations 93,155 -
Grants (see note below) 949,813
Sale HMH (see note page 4) 131,616 -
1,174,584
EXPENDITURE
Professional fees 37,324 78,215
Other costs 639,184 1,579
676,508 79,794
EXCESS OF INCOME FOR YEAR 498,076 -79,794
Note:
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Grants shown are either grants that were received during the year, or grants that have been offered and are due to be claimed against WiNSpace expenditure that has been paid during the year. The amount due to be claimed included in the total figure is £356,283 which is shown on page 5 as a debtor. These amounts have now been paid, post year end.

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WINSCOMBE COMMUNITY ASSOCIATION
Accumulated Fund (Note 2)
YEAR TO 30th APRIL 2025
2025 2024
INCOME £ £
Rents Received 37,223 41,129
Fund Raising 5,666 9,566
Friends Scheme 185 281
Donations 3,280
Other grants (warmspace) 605 500
Warmspace National Grid grant 10,000
Interest Received 1,749 3,715
Income (excluding WiNSpace and sale HMH) 45,428 68,471
EXPENDITURE
Repairs & Maintenance 1,232 2,431
Renewals & Improvements 0 8,553
Running costs 17,634 18,946
Housekeeping & Bookings 14,218 12,503
Miscellaneous Expenses 1,564 557
Warmspace Grant expenditure 605 10,000
Outgo (excluding WiNSpace and sale HMH) 35,253 52,990
Net Income (excluding WiNSpace and sale HMH) 10,175 15,481
Accumulated fund b/f 35,236 163,359
Income to Accumulated Fund -236 - 128,123
Accumulated Fund c/f 35,000 35,236
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WINSCOMBE COMMUNITY ASSOCIATION

RESTRICTED FUNDS ( note 3)

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2025 2024
£ £
Increase in WiNSpace funds during year see note 1 498,076 - 79,794
Increase in unrestricted funds in year see note 2 10,175
total increase in Funds in year 508,251 -79,794
WiNSpace Unrestricted Funds
WiNSpace Fund b/f Unrestricted) 63,965 155
Transfer in/out General Fund -30,000 0
Transfer in/out Accumulated Fund 236 33,965 128,123
Increase in unrestricted funds in year 10,175
WiNSpace Unrestricted Fund c/f 44,376 63,965
WiNSpace Restricted Funds
WiNSpace Fund b/f Restricted) 0
Transfer in/out 0
Increase in restricted funds in year 498,076
WiNSpace Restricted Fund c/f 498,076 0
Total WiNSpace Reserve Fund 542,452 63,965
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Restricted Funds are in respect of donations or grants paid during the year for the WiNSpace project. Future income and expenditure for WiNSpace will be accounted on a cash-basis in the accounting year paid/received. The sale proceeds of the headmaster house (HMH) are treated as restricted as it was a requirement of sale that these be spent for community benefit. An amount of £ 64,849 was held by North Somerset in relation to the sale of the HMH and will be released upon request and provision of invoices for spend on the project. This has been paid post year end. See (note 4) for a detailed breakdown of Income and Expenditure for Restricted Funds during the year.

As at 1 May 2025, there was just under £1.2M of Contractor fees still to be paid of the total contract cost of c£1.8m. Funding identified but not yet paid was c. £0.7m, which combined with the £542,452 WiNSpace reserve fund is sufficient to meet the expected outgoings. Note outstanding funding includes the £250,000 loan from the Parish Council currently in process. If this does not get approved , the Trustees are satisfied a bridging loan and subsequent sale of the Old School would be sufficient to meet any funding shortfall.

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WINSCOMBE COMMUNITY ASSOCIATION
Details on Income and Expenditure of
RESTRICTED FUNDS during year( note 4)
Balance
Income Expenditure remaining
Provider £ £ £
Grant
Thatcher Foundation 25,000.00 0.00 25,000.00
Bristol Airport 12,000.00 0.00 12,000.00
Comm Ownership Fund 300,000.00 300,000.00 0.00
Lottery 190,000.00 190,000.00 0.00
Quartet 4,000.00 4,000.00 0.00
WestonGarfield 40,000.00 10,000.00 30,000.00
S106 (Redrow) 129,899.00 129,899.00 0.00
Parish Council Grant 248,914.00 0.00 248,914.00
sum total 949,813.00 633,899.00 315,914.00
Other Donations 93,155.00 42,608.00 50,547.00
Sale HMH 131,615.00 131,615.00
TOTAL 1,174,583.00 676,507.00 498,076.00
We sincerely thank all our Sponsors,Grant Providers and Donors for their generosity in
supporting the WiNSpace project. More details on our sponsors can be found on our
website https://winspace.org.uk/
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WINSCOMBE COMMUNITY ASSOCIATION
Tangible Assets
NOTES TO THE ACCOUNTS (note 5)
YEAR ENDED 30th APRIL 2025
Freehold Fixtures & Total
Fittings
£ £ £
COST
At 1 May 2024 35,000 25,350 60,350
Additions 0 0
At 30 April 2025 35,000 25,350 60,350
DEPRECIATION
At 1 May 2024 25,350 25,350
additions - -
At 30 April 2025 25,350 25,350
NET BOOK VALUE
At 1 May 2024 35,000 35,000
At 30 April 2025 35,000 35,000
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