PRESTON ROAD COMMUNITY CENTRE (CIO)
Charity number: 1186725
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30[TH] APRIL 2024
Preston Road Community Centre (CIO)
Financial Statements for the Year Ended 30[th] April 2024
| Contents | |
|---|---|
| Charity Information | 1 |
| Trustees Report | 2 - 3 |
| Statement of Trustees Responsibilities | 4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the financial statements | 8 - 11 |
Page 1
Preston Road Community Centre (CIO)
Financial Statements for the Year Ended 30[th] April 2024
Charity Information
Governing Instrument
The CIO is a charity registered with the Charity Commission under number 1186725. It is governed by the Constitution of Preston Road Community Centre, 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 CIO
| Chairman | Mr R Ball |
|---|---|
| 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 | |
| Independent Examiner | Mrs C Norris FCCA (retired) |
| 11 Binning Close | |
| Drayton | |
| Abingdon | |
| Oxon OX14 4LN |
Page 2
PRCC Trustees Report for the year ending 30[th] April 2024
General
Preston Road Community Centre is a friendly community hub where people come together for activities and events. Many groups use the centre, such as the Vineyard Church, the University of the Third Age, parents/carers with children, youth groups, fitness classes, bingo, games groups, wine tasting, town twinning, etc.
Behind the scenes, a team of trustees ensure the smooth operation of the Preston Road Community Centre. Trustees regularly meet to review financial performance, risks and operational matters, ensuring the centre's financial stability, smooth running and growth. Health and safety remain paramount, and the trustees inspect, monitor, and address potential concerns. Repairs are carefully evaluated, ensuring the centre's facilities remain in top condition.
Bingo continues every Tuesday evening and provides a much-needed social activity for community members.
The Abingdon Emergency Foodbank continues to operate from the Centre every week during the year. This provides a local distribution centre to recipients in the area, the central bank at Christ Church being just over two miles away.
The Blood Donors Centre also visits throughout the year.
Finance and staffing
The charity's total income increased from £43,121 in 2023 to £56,803 in 2024, a positive sign that activity continues to return after the Covid slowdown. The total expenditure also increased from £37,726 to £44,581. The charity generated a net surplus of £12,222 in 2024, which is a significant increase from the previous year's surplus of £5,395. The charity's total assets increased from £124,564 to £136,786. This is primarily due to an increase in cash in the bank. This indicates a healthy financial position for the charity. However, some of the reserves will be spent on internal projects such as the disabled toilets and replacing the internal partitions. There are uncertainties with lease negotiations that have led trustees to put £50K into earmarked reserves for such projects once a lease has been agreed.
The staff include a part time finance officer, cleaner, and handyman. They have remained in place throughout the year and are supervised by trustees. Some of the tasks once done by paid staff, such as bookings, are done by volunteers to help keep costs down. A group of volunteers help to run the Bingo which makes an evening out for people in the local area. Trustees carry out management functions, and monthly Health and Safety checks.
The building
The landlord, the Vale of White Horse District Council (VWHDC) conducted a building condition survey five years ago and produced a report showing the expected repairing risk over the 20-year lease term being considered under a lease renewal. That risk was estimated at £174,000 for maintaining the building in its current condition at 2018 prices. Discussions started to work through how that risk could be managed, given that VWHDC is looking to pass all costs associated with their buildings to the charity under a Full Repair and insuring lease. Trustees have investigated and obtained free legal counsel, the findings of which have been shared. The legal counsel largely concurs with their interpretation that trustees should not sign the entire FRI lease due to its excessively unfavourable terms. The legal counsel confirmed that the CIO has LTA54 legal protection. Furthermore, the counsel pointed out that the centre's use is restricted to local community purposes, and therefore, charging commercial rent could be challenged.
Page 3
A meeting was held with trustees from Northeast Abingdon Community Centre to learn from each other. Trustees will continue to share experiences with other local community centres.
Building maintenance takes up a lot of Trustees' time and effort. Trustees arrange and come in whenever a contractor is needed for the annual checks for gas, the fire alarms and extinguishers, and alarm system. They investigate and get contractors in for problems that arise such as drainage, and the alarm system. Trustees do annual Health and Safety and Fire Risks
assessments and remedy any issues found. Volunteers also act as key holders for groups that use the building who are not key holders.
An agreement has been arrived at with the adjoining Pub to ensure the safety of users in the car park, where there were deliveries at times when users were in the centre.
Trustees are still considering replacing the air-con system, but this item is one of the matters being discussed between the CIO and VWHDC.
Management
The association will continue to support a wide range of activities through the user groups that operate in the Community Centre. The Trustees continue to 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 children’s parties.
Three of the four trustees were reappointed for 4 years. There is a need for more trustees and volunteers with the right skills to help run the centre.
Policies and risk assessments were updated and reviewed during the year by trustees. These covers areas such as:
• Complaints • Volunteers • Conflict of Interests • Working alone • Investment • Serious Incidents • Paying Staff • Health and Safety • Safeguarding • Fire
Trustees continued to spend a lot of time looking at the lease negotiations, and on who is liable for the external fabric of the main building. Councillors Neil Fawcett and Andrew Skinner have been appointed as the VWHDC representative for Preston Road Community Centre Association.
Public Benefit Statement
The Community Centre is available for hire seven days a week, all year round, to individuals and groups for activities that are consistent with the objectives of the charity. 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 – November 2024
Page 4
Preston Road Community Centre (CIO)
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 5 Preston Road Community Centre Indendent Examiner's Report to the Trustees of Preslon Road Community Centre (Charity no. 1186725) on accounts for the year endod 30th April 2024 set out on pages 6 - 11 Respective responsibilities of trustees and independent examiner I report to the trustees on my examination of the accounts of the above charity ('the Trust") for the year ended 30th April 2024. As the Gharity's trustees, you are responsible for the preparation of the accounts in accordance wrth the requirements of the Chanties Act 2011 {1he Acr). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in rryIng out my examination, I have followed all the applicable directions given by the Charrty Commission under section 145(5)(b) of the Act. Independent examinèrfs statsm•nt I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination which gives me cause to believe that in. any material respect.. the accounting records were not kept in accordance with section 130 of th8 Charities Act; or the accounts did not ac¢ord with the accounting records: or the accounts did not comply with th8 applicable requirements concerning the fomi and content of accounts set out in the Chanties (Accounts and Reports) Regulations 2008 other than any requirement thal the accounts give a Yrue and fai¢ view which is not a matter considered as part of an independent examination. I have no ¢on¢erns and have come across no other matters in Connection wrth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ks C Norris CCA {retired) 118inning Close Drayton Abingdon, Oxon OX14 4LN 6 September 2024
Page 6
Preston Road Community Centre
Statement of Financial Activities for the Year Ended 30[th] April 2024
| 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 2 Governance costs 3 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 - 1stMay 2023 Balances carried forward - 30thApril 2024 |
2024 2023 Unrestricted Restricted Total Total £ £ £ £ 19,614 - 19,614 13,898 - - - - 150 - 150 60 1,551 - 1,551 488 35,488 - 35,488 28,675 - - - - |
|---|---|
| 56,803 - 56,803 43,121 |
|
| 15,661 - 15,661 13,900 28,488 - 28,488 23,502 432 - 432 324 |
|
| 44,581 - 44,581 37,726 |
|
| 12,222 - 12,222 5,395 - - - - |
|
| 12,222 - 12,222 5,395 - - - - |
|
| 12,222 - 12,222 5,395 124,564 - 124,564 119,169 |
|
| 136,786 - 136,786 124,564 |
Page 7
Preston Road Community Centre Balance Sheet at 30th April 2024
| Note Fixed Assets Equipment 6 Current Assets Stock 7 Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 10 Net assets The funds of the charity: Restricted income funds 11 Unrestricted Income funds 12 |
2024 2023 Unrestricted Restricted Total Total £ £ £ £ 378 - 378 690 |
|---|---|
| 378 - 378 690 |
|
| 1,929 - 1,929 1,648 5,586 - 5,586 4,346 133,137 - 133,137 119,706 |
|
| 140,652 - 140,652 125,700 (4,244) - (4,244) (1,826) |
|
| 136,408 - 136,408 123,874 |
|
| 136,786 - 136,786 124,564 - - - - |
|
| 136,786 - 136,786 124,564 |
|
| - - - - 136,786 - 136,786 124,564 |
|
| 136,786 - 136,786 124,564 |
The financial statements on pages 6 to 11 were approved by the trustees on 9 December 2024, and signed on their behalf by:
Mr R Ball Chairman
Page 8
Preston Road Community Centre
Notes to the Accounts for the Year Ended 30[th ] April 2024
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.
Page 9
Preston Road Community Centre
Notes to the Accounts for the Year Ended 30[th ] April 2024
2 Centre running costs
| Wages Water rates Light and heat Telephone and Broadband Lease – Anticipated credit from 2022 for £500 cancelled Licences Alarm maintenance Insurance Repairs and renewals Cleaning and refuse collection Depreciation Profit on disposal of fixed assets 3 Governance Costs Administration |
2024 £ 10,902 1,204 6,224 681 175 180 572 3,720 1,217 3,301 312 - 28,488 2024 £ 432 432 |
2023 £ 7,108 900 3,246 624 (325) 180 554 1,039 6,533 2,957 686 - |
|---|---|---|
| 23,502 | ||
| 2023 £ 324 |
||
| 324 |
4 Trustees Remuneration
No remuneration was paid or expenditure reimbursed in the year.
5 Staff Costs
| aff Costs | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Salaries | 10,902 | 7,108 |
The average number of full-time equivalent employees is less than one. No employee earned more than £60,000.
Page 10
Preston Road Community Centre
Notes to the Accounts for the Year Ended 30[th ] April 2024
| 6 Fixed Assets Cost 1stMay 2023 Additions Disposals 30thApril 2024 Depreciation 1stMay 2023 Charge for Year Disposals depreciation 30thApril 2024 NBV 30thApril 2024 30thApril 2023 7 Stock Bingo stock – prizes, tickets, items for resale 8 Debtors Bookings Prepayments Tax recoverable on Gift Aid income Other debtors |
Equipment £ 60,887 - - 60,887 60,197 312 - 60,509 378 690 2024 £ 1,929 1,929 2024 £ 5,419 167 - - 5,586 |
Total £ 60,887 - - |
|
|---|---|---|---|
| 60,887 | |||
| 60,197 312 - |
|||
| 60,509 | |||
| 378 | |||
| 690 | |||
| 2023 £ 1,648 |
|||
| 1,648 | |||
| 2023 £ 4,198 148 - - |
|||
| 4,346 |
Page 11
Preston Road Community Centre
Notes to the Accounts for the Year Ended 30[th ] April 2024
| 9 Creditors falling due within one year Sundry creditors and accruals Payments in advance 10 Creditors falling due after more than one year None 11 Restricted income funds 1st May 2023 Incoming resources Resources expended – Revenue expenditure Resources expended – Capital expenditure 30thApril 2024 12 General account 1st May 2023 Retained (deficit) / surplus for the year 30thApril 2024 |
2024 £ 3,521 723 4,244 2024 £ - 2024 £ - - - - - 2024 £ 124,564 12,222 136,786 |
2023 £ 1,087 739 |
|---|---|---|
| 1,826 | ||
| 2023 £ - |
||
| 2023 £ - - - - |
||
| - | ||
| 2023 £ 119,169 5,395 |
||
| 124,564 |
The general account consists of unrestricted income funds available to be spent for any of the purposes of the charity. We have reserved £50,000 of this for future refurbishments of the Centre.