# **PRESTON ROAD COMMUNITY CENTRE (CIO)**
# **Charity number: 1186725**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 30[TH] APRIL 2021**
## **Preston Road Community Centre (CIO) Financial Statements for the Year Ended 30[th] April 2021**
||**Contents**||
|---|---|---|
|Charity Information||1|
|Trustees Report||2|
|Statement of Trustees Responsibilities||3|
|Statement of Financial Activities||4|
|Balance Sheet||5|
|Notes to the financial statements||6|
Page 1
## **Preston Road Community Centre (CIO)**
## **Financial Statements for the Year Ended 30[th] April 2021**
## **Charity Information**
## **Governing Instrument**
The Association is a charity registered with the Charity Commission under number 1186725. It is governed by the Constitution of Preston Road Community Centre Association, which was adopted on 15[th] August 2019.
## **Activities**
The CIO runs a community centre in Preston Road, Abingdon for the benefit of local residents and organisations. Its objects are to advance education and, in the interests of social welfare, to provide leisure and recreational activities.
|**Trustees and Officers of the Association**|**Trustees and Officers of the Association**|
|---|---|
|**Chairman**|Mr R Ball|
|**Vice Chairman**|Mr J Webber|
|**Honorary Secretary**|Mr A Fear|
|**Trustee**|Mrs S Smith|
|**Trustee**|Mr C Palmer|
|**Address**|Preston Road Community Centre|
||Midget Close|
||Abingdon|
||Oxon OX14 5NR|
|**Bankers**|Nat West plc|
||11 Market Place|
||Abingdon|
||Oxon OX14 3HH|
Page 2
## **PRCC Trustees Report for the year ending 30[th] April 2021**
## **General**
Preston Road Community Centre is usually a bustling hub for the local community with groups such as the Vineyard Church, U3A, Mother and Toddlers, the Youth Groups, fitness groups, bingo, the wine circle, town twinning and many more.
## **Finance and staffing**
The centre was run by trustees as the Preston Road Community Centre Association (Charity 269942) until 30[th] April 2021. The accounts for the association include all the income and expenditure until 30[th] April 2021. That charity was removed on 1[st] May 2021 and merged with Preston Road Community Centre (CIO). The CIO incurred no income or expenditure, and had no staff, up to 30[th] April 2021. The CIO started operating from 1[st] May 2021.
## **The building**
VWHDC carried out a building condition survey over two years ago and produced a report showing expected costs over the next five to ten years for maintaining the building in its current condition only. That has fed into negotiations for a new lease.
Trustees will be considering enhancements like CCTV, and an improved electronic entry system to protect users; better insulation, and energy efficient lighting; and improved disabled toilets once a new lease with VWHDC is agreed.
## **Management**
The CIO will continue to support a wide range of activities through the user groups that operate in the Community Centre. The Trustees will seek new groups and volunteers to help keep the Community Centre running smoothly as a clean, well-appointed, and comfortable place to enjoy the activities available and to hire for private functions.
## **Public Benefit Statement**
The Community Centre will be available for hire seven days a week all the year round, to individuals and groups for activities that are consistent with the objects of the charity. Volunteers give up their time to open and close the building for private functions although most regular users have their own sets of keys. Activities are held for all age groups from parents and toddler groups, youth clubs, to groups for older people. Volunteers give many hours each week to ensure the Community Centre is available and is in good order as well as running fund raising activities. The Trustees continue to look at ways to reduce running costs whilst providing a good venue with good facilities.
For and on behalf of the Trustees
Preston Road Community Centre - Alastair Fear – February 2022
Page 3
## **Preston Road Community Centre Association**
## **Statement of Trustees Responsibilities**
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees are required to:
- select suitable accounting policies and then 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 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 charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the constitution of the association. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the trustees
Mr R Ball Chairman
Page 4
## **Preston Road Community Centre (CIO)**
## **Statement of Financial Activities for the Year Ended 30[th] April 2021**
|**Note**
**Incoming Resources**
Incoming resources from generated funds:
- own functions
- grants
- donations
- interest received
Incoming resources from charitable activities:
- booking fees
Other incoming resources
**_Total Incoming Resources_**
**Resources Expended**
Costs of generating funds:
- own functions
Charitable activities:
- centre running costs
Governance costs
**_Total Resources Expended_**
Net incoming resources before transfers
Transfers between funds
Net incoming resources
Unrealised Losses/Gains on Investments
Net movement in Funds
Balances brought forward – 3rdDec 2019
Balances carried forward - 30thApril 2021|**2021**
**2020**
**Unrestricted**
**Restricted**
**Total**
**Total**
**£**
**£**
**£**
**£**
0
-
0
-
0
-
0
-
0
-
0
-
0
-
0
-
0
-
0
-
0
-
0
-|
|---|---|
||0
-
0
-|
||0
-
0
-
0
-
0
-
0
-
0
-|
||0
-
0
-|
||0
-
0
-
0
-
0
-|
||0
-
0
-
0
-
0
-|
||0
-
0
-
0
-
0
-|
||0
-
0
-|
Page 5
## **Preston Road Community Centre (CIO) Balance Sheet at 30th April 2021**
|**Note**
**Fixed Assets**
Equipment
**Current Assets**
Stock
Debtors
Cash at bank and in hand
Creditors: amounts falling due within
one year
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after
more than one year
**Net assets**
**The funds of the charity:**
Restricted income funds
Unrestricted Income funds|**2021**
**2020**
**Unrestricted**
**Restricted**
**Total**
**Total**
**£**
**£**
**£**
**£**
0
-
0
-|
|---|---|
||0
-
0
-|
||0
-
0
-
0
-
0
-
0
-
0
-|
||0
-
0
-
(0)
-
(0)
-|
||0
-
0
-|
||0
-
0
-
-
-
-
-|
||0
-
0
-|
||-
-
-
-
0
-
0
-|
||0
-
0
-|
The financial statements on pages 4 to 6 were approved by the trustees on 2021, and signed on their behalf by:
Mr R Ball Chairman
Page 6
## **Preston Road Community Centre (CIO)**
## **Notes to the Accounts for the Year Ended 30[th ] April 2021**
## **1 Accounting Policies**
## **Basis of accounting**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. They have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
## **Funds Structure**
Unrestricted Income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds may include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.
Restricted income funds are funds which are to be used in accordance with specific restrictions imposed by the donors.
The nature of each restricted fund is set out in the notes to the accounts.
## **Fixed assets**
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life as follows:
General Equipment 25% on cost Partitions 20% on cost Computer Equipment 33% on cost
## **Stock**
Stocks of goods for resale are valued at the lower of cost and net realisable value.
## **Incoming resources**
All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability.
## **Resources expended**
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
## **Change in basis of accounting**
There has been no change to the accounting policies since last year.