REGISTERED COMPANY NUMBER: (England and Wales) REGISTERED CHARITY NUMBER: 1188560
Report of the Trustees and
Unaudited Financial Statements for the Period 1 February 2021 to 31 August 2021
for
Cookridge Village Association
Whitesides Chartered Accountants Lister House Lister Hill Horsforth Leeds LS18 5AZ
Cookridge Village Association
Contents of the Financial Statements for the Period 1 February 2021 to 31 August 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
Cookridge Village Association
Report of the Trustees for the Period 1 February 2021 to 31 August 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1 February 2021 to 31 August 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Cookridge Village Association is a charity that has been playing a vital role in people's lives for over 60 years.
Recently, the Cookridge Village Association updated its status and became a Charitable Incorporated Organisation (CIO) registered with the Charity Commission on 16 March 2020 with charity number 1188560 and taking over the role and responsibilities of the unincorporated charity also called Cookridge Village Association with charity number 523557. The transfer of assets and liabilities to the CIO took place on 1 February 2021. This being considerably later than anticipated owing to the Covid-19 pandemic.
Cookridge Village Association is a modern community charity that is engaged with the many people who live in Cookridge and the surrounding area. Through the services and activities provided by the Association, the charity aims to enrich the lives of those living in the local area, especially those disadvantaged by poor health, isolation, or poverty.
Cookridge Village Association owns and runs a busy community centre, it provides a base for the activities the Association runs, a place for local people to meet, and a resource for other organisations to deliver their services to the local community.
The main objective of the Association is to provide, maintain and manage a Community Centre, or to co-operate with any local statutory authority in the maintenance and management of such a centre for activities promoted by the Association and its constituent bodies.
The Community Centre is to be used to the benefit of the inhabitants of Cookridge and the surrounding area without distinction of sex and political opinions by associating the local authorities, voluntary organisations and inhabitants. It is provided to advance education and to provide facilities in the interest of social welfare for recreation and leisure time. The Association is non-party in politics and non-sectarian in religion.
Significant activities
The Association is managed by a dedicated team of volunteers for the benefit of the residents of Cookridge and the surrounding area.
The facilities are available for one-off hire, regular hires and are used by the Association for the provision of activities for the local community. The Association runs several sections, which are operated by volunteers, the income generated from running these sections is reinvested in the maintenance and running of the hall. The activities provided by the hall are provided at a discount to members of the local community to further the aims of the charity and provide a benefit to the local community.
The trustees hold fundraising events throughout the year to raise additional revenue to cover the costs of providing the facilities. In recent years, the trustees have been pursuing a programme of refurbishment.
Public benefit
The Trustees have had regard to Charity Commission guidance on public benefit and have complied with the duty in section 17(5) of the Charities Act 2011. The Association provides a public benefit to local residents by being a place where community activities and services take place which improve the quality of life for local people.
Page 1
Cookridge Village Association
Report of the Trustees for the Period 1 February 2021 to 31 August 2021
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Built in the heart of Cookridge, Cookridge Village Hall is home to several regular groups and services that benefit the whole community. The Association operates the following Sections, which are run as not for profit groups with all income generated from running these sections being reinvested in the maintenance and running of the hall:
Cookridge Amateur Dramatic Society Childminders Group Toddlers (Tots) Needlework Camera Club
The formation of new Sections is positively encouraged, and with the permission of the Council, may be formed within the Association by individual members. Each section shall have the right to appoint one representative to be a member of the Council.
0% (Jan 2021: 3%) of the income is generated from fund raising events held by the Association throughout the period, as the Association hasn't been able to raise funds in the usual way due to Covid-19 restrictions. In this period donations were sought from the groups and other users of the hall and £89 (Jan 2021: £519) was raised, being 0% (Jan 2021: 2%) of the income generated.
The facilities are also available for regular and occasional hire.
The Association is committed to supporting local people, helping them to access resources and develop skills, relationships and create an active community. The hall is a place where members of the local community can come together to meet each other.
FINANCIAL REVIEW
Financial position
The Association is funded predominantly by hall hire, fund raising and income from the sections. It also receives a small amount of income from donations, bank interest etc.
This period has seen a significant decrease in income from the sections and regular hire during the year due to the pandemic. This is despite accommodating Olympic Kids and more recently, Jungle Kids as new regular hires. Income from the sections and hall hires was £5,601 for the 7-month period, compared with the previous £19,236 for the prior 17-month period.
Grants totalling £17,520 (Jan 2021: £10,000) were received from Leeds City Council in relation to Covid-19 relief.
Expenditure on maintenance and repairs was £2,419 (Jan 2021: £11,232), continuing the programme of refurbishment to the hall, including creating new accessible entrances, chair and carpet cleaning, and sanitation regarding Covid-19. Expenditure on refurbishment will continue until the facilities have been updated. In addition, the usual day to day business of general repairs and maintenance continues.
The Association has sufficient reserves in place to ensure that it can operate for the foreseeable future even if there is a further reduction in income.
Investment policy and objectives
Investment strategy is set by the Trustees and monitored on a regular basis by the trustees. Consideration is given to income requirements, capital growth and risk.
Reserves policy
The Association pursues a policy which endeavours to maintain funds at a level that provides adequate cover for day-to-day costs and provides for future major expenditure of an extraordinary nature. The Association currently has unrestricted reserves of £70,942 (Jan 2021: £64,062) and no restricted funds.
Page 2
Cookridge Village Association
Report of the Trustees for the Period 1 February 2021 to 31 August 2021
FINANCIAL REVIEW
Going concern
No material uncertainties related to events or conditions that may cast significant doubt about the ability of the Association to continue as a going concern have been identified by the Trustees. The accounts have therefore been prepared on a going concern basis.
FUTURE PLANS
The Association plans to maintain its programme of renovations to improve the quality of the facilities, providing activities and hire of the hall to local residents at modest cost on an ongoing basis. There are currently no plans for expansion.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The charity is controlled by its Governing Document dated 10 March 2020.
The purpose of the charity as set out in its Governing Document is to provide, maintain and manage a Community Centre for the inhabitants of Cookridge and the surrounding area.
Recruitment and appointment of new trustees
The general management of the affairs of the Association are directed by a Council who meet as required (and not less than six times a year). The Council consists of:
(a) a representative from each Section
(b) independent members equal to the number of Sections of the Association
(c) the Honorary Offices of the Association and of the Council ex-officio
- (d) two representatives appointed by the Trustees
All members of the Council retire annually at the Annual General Meeting but are eligible to be appointed or co-opted again.
Executive Committee
At each Annual General Meeting an Executive Committee shall be appointed which shall comprise of a President, Chairman, Treasurer and Secretary.
The Executive Committee are selected by votes at the annual meeting. Anyone who wishes to assist the Association with its objectives may put themselves forward for election once they have firstly been proposed by a member to hold office.
Trustees are appointed on their contribution to the Association and the skills they can offer to the board, trustees are voted by the Committee.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
(England and Wales)
Registered Charity number
1188560
Registered office
Moseley Wood Lane Cookridge Leeds West Yorkshire LS16 7ER
Page 3
Cookridge Village Association
Report of the Trustees for the Period 1 February 2021 to 31 August 2021
Trustees
B Atha (resigned 1.5.21) M Holm Ms P Sturdy Mrs G Tones R Dewhurst
Company Secretary
Approved by order of the board of trustees on 4 October 2021 and signed on its behalf by:
Mrs G Tones - Trustee
Page 4
Cookridge Village Association
Statement of Financial Activities for the Period 1 February 2021 to 31 August 2021
| Period | Period | ||||
|---|---|---|---|---|---|
| 1.2.21 | 1.9.19 | ||||
| to | to | ||||
| 31.8.21 | 31.1.21 | ||||
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 17,521 | - | 17,521 | 11,280 | |
| Charitable activities | |||||
| Provision of Village Hall | 5,162 | - | 5,162 | 15,661 | |
| Provision of local amenities via Section activity | 549 | - | 549 | 3,575 | |
| Other trading activities | 2 | - | - | - | 1,041 |
| Investment income | 3 | 1 | - | 1 | 267 |
| Total | 23,233 | - | 23,233 | 31,824 | |
| EXPENDITURE ON | |||||
| Raising funds | - | - | - | 403 | |
| Charitable activities | |||||
| Provision of Village Hall | 16,436 | - | 16,436 | 40,061 | |
| Total | 16,436 | - | 16,436 | 40,464 | |
| NET INCOME/(EXPENDITURE) | 6,797 | - | 6,797 | (8,640) | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 64,122 | - | 64,122 | 72,762 | |
| TOTAL FUNDS CARRIED FORWARD | 70,919 | - | 70,919 | 64,122 |
The notes form part of these financial statements
Page 5
Cookridge Village Association
Balance Sheet 31 August 2021
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 33,770 CURRENT ASSETS Debtors 8 633 Investments 9 17,091 Cash at bank and in hand 21,293 39,017 CREDITORS Amounts falling due within one year 10 (1,868) NET CURRENT ASSETS 37,149 TOTAL ASSETS LESS CURRENT LIABILITIES 70,919 NET ASSETS 70,919 FUNDS 11 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - - |
2021 Total funds £ 33,770 633 17,091 21,293 39,017 (1,868) 37,149 70,919 70,919 70,919 70,919 |
2021 Total funds £ 34,801 1,641 17,091 12,236 30,968 (1,647) 29,321 64,122 64,122 64,122 64,122 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2021.
The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 4 October 2021 and were signed on its behalf by:
G Tones - Trustee
The notes form part of these financial statements
Page 6
Cookridge Village Association
Notes to the Financial Statements
for the Period 1 February 2021 to 31 August 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Freehold property | - 2.5% on reducing balance |
|---|---|
| Improvements to property | - 20% on reducing balance, 10% on reducing balance and 5% on cost |
| Plant and machinery | - 10% on reducing balance |
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | |||
|---|---|---|---|
| Period | Period | ||
| 1.2.21 | 1.9.19 | ||
| to | to | ||
| 31.8.21 | 31.1.21 | ||
| £ | £ | ||
| Fundraising events | - | 1,041 |
continued...
Page 7
Cookridge Village Association
Notes to the Financial Statements - continued for the Period 1 February 2021 to 31 August 2021
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Period | Period | |
| 1.2.21 | 1.9.19 | |
| to | to | |
| 31.8.21 | 31.1.21 | |
| £ | £ | |
| Current asset investment income | 1 | 267 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| Period | Period | |
| 1.2.21 | 1.9.19 | |
| to | to | |
| 31.8.21 | 31.1.21 | |
| £ | £ | |
| Depreciation - owned assets | 1,031 | 3,320 |
4. NET INCOME/(EXPENDITURE)
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 August 2021 nor for the period ended 31 January 2021.
Trustees' expenses
During the financial period £766 (Jan 2021: £205) was paid to 3 (Jan 2021: 2) trustees in order to reimburse them for expenses incurred in their management of the charity. These expenses included: flowers; stationery; an electrician; cleaning; equipment for the hall and licences for the hall.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 11,280 - Charitable activities Provision of Village Hall 15,661 - Provision of local amenities via Section activity 3,575 - Other trading activities 1,041 - Investment income 267 - Total 31,824 - EXPENDITURE ON Raising funds 403 - Charitable activities Provision of Village Hall 40,061 - Total 40,464 - |
Total funds £ 11,280 15,661 3,575 1,041 267 |
|---|---|
| 31,824 403 40,061 |
|
| 40,464 |
continued...
Page 8
Cookridge Village Association
Notes to the Financial Statements - continued for the Period 1 February 2021 to 31 August 2021
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund fund £ £ NET INCOME/(EXPENDITURE) (8,640) - Transfers between funds 16,806 (16,806) Net movement in funds 8,166 (16,806) RECONCILIATION OF FUNDS Total funds brought forward 55,956 16,806 TOTAL FUNDS CARRIED FORWARD 64,122 - 7. TANGIBLE FIXED ASSETS Improvements Freehold Short to Plant and property leasehold property machinery £ £ £ £ COST At 1 February 2021 and 31 August 2021 1,444 23,928 48,397 12,616 DEPRECIATION At 1 February 2021 - 8,020 34,402 9,162 Charge for year - 200 656 175 At 31 August 2021 - 8,220 35,058 9,337 NET BOOK VALUE At 31 August 2021 1,444 15,708 13,339 3,279 At 31 January 2021 1,444 15,908 13,995 3,454 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Prepayments 633 |
Total funds £ (8,640) - (8,640) 72,762 64,122 Totals £ 86,385 51,584 1,031 52,615 33,770 34,801 2021 £ 1,641 |
|---|---|
continued...
Page 9
Cookridge Village Association
Notes to the Financial Statements - continued for the Period 1 February 2021 to 31 August 2021
| 9. CURRENT ASSET INVESTMENTS National savings income bond Leeds building society account 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses 11. MOVEMENT IN FUNDS At 1.2.21 £ Unrestricted funds General fund 64,122 TOTAL FUNDS 64,122 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 23,233 TOTAL FUNDS 23,233 Comparatives for movement in funds Net movement At 1.9.19 in funds £ £ Unrestricted funds General fund 55,956 (8,640) Restricted funds Restricted Fund 16,806 - TOTAL FUNDS 72,762 (8,640) |
2021 £ 17,000 91 17,091 2021 £ 1,868 Net movement in funds £ 6,797 6,797 Resources expended £ (16,436) (16,436) Transfers between funds £ 16,806 (16,806) - |
2021 £ 17,000 91 17,091 2021 £ 1,647 At 31.8.21 £ 70,919 70,919 Movement in funds £ 6,797 6,797 At 31.1.21 £ 64,122 - 64,122 |
|---|---|---|
continued...
Page 10
Cookridge Village Association
Notes to the Financial Statements - continued for the Period 1 February 2021 to 31 August 2021
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 31,824 | (40,464) | (8,640) |
| TOTAL FUNDS | 31,824 | (40,464) | (8,640) |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31 August 2021.
13. MERGER ACCOUNTING
The CIO was registered on 16/03/2020. These are its first accounts, covering the period from 16/03/2020 to 31/08/2021.
The CIO was dormant from 16/03/2020 to 31/01/2021. During this period, the activities of Cookridge Village Association were undertaken as an unincorporated charity. The final financial period for that unincorporated entity was a 17-month long period running from 01/09/2019 to 31/01/2021.
The activities of the old charity continued as part of the CIO from 01/02/2021 onwards without interruption.
Therefore, the financial statements disclose the figures for the period from 01/02/2021 to 31/08/2021 in the current period, despite the accounts covering a longer period wherein the CIO was dormant.
The results shown for the comparative period represent the results of the 17-month final period of account for the old, unincorporated charity, shown here for comparison.
This is disclosed in order to comply with the requirements of s27 of the Charity SORP (FRS 102). Note that this period extends before the CIO was formed, to 01/09/2019.
Users of these statements should pay particular attention when comparing results from the current period to the previous period. The current periods figures represent 7 months of activities, whereas the comparative period represents 17 months of activities.
14. CHANGE IN PRESENTATION - HIRE OF THE HALL
In previous periods, hire of the hall was disclosed as a trading activity. It is the view of the trustees that this in fact represents fulfilment of the charitable objectives of providing, maintaining, and managing a Community Centre. As such, these activities are now disclosed as charitable activities. The comparatives have also been adjusted in order to reflect this.
There is no effect on the surplus or deficit in the current or previous year of this change.
Page 11
Cookridge Village Association
Detailed Statement of Financial Activities for the Period 1 February 2021 to 31 August 2021
| Period | Period | |
|---|---|---|
| 1.2.21 | 1.9.19 | |
| to | to | |
| 31.8.21 | 31.1.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 90 | 519 |
| Grants | 17,431 | 10,000 |
| Subscriptions | - | 761 |
| 17,521 | 11,280 | |
| Other trading activities | ||
| Fundraising events | - | 1,041 |
| Investment income | ||
| Current asset investment income | 1 | 267 |
| Charitable activities | ||
| CADS | - | 1,350 |
| Camera club | - | 338 |
| Childminders | - | 265 |
| Keep fit classes | 239 | 440 |
| Needlework | - | 631 |
| Toddlers | - | 251 |
| Watercolour class | 310 | 300 |
| Regular hire | 4,627 | 12,676 |
| Occasional hire | 535 | 2,985 |
| 5,711 | 19,236 | |
| Total incoming resources | 23,233 | 31,824 |
| EXPENDITURE | ||
| Other trading activities | ||
| Fundraising expenditure | - | 403 |
| Charitable activities | ||
| Rates and water | 339 | 1,636 |
| Insurance | 1,008 | 4,118 |
| Light and heat | 1,446 | 4,595 |
| Postage and stationery | 53 | 126 |
| Sundries | 177 | 444 |
| Cleaning | 3,144 | 8,736 |
| Repairs and renewals | 2,460 | 11,232 |
| Gardening | 738 | 1,807 |
| Computer costs | - | 418 |
| Short leasehold | 200 | 612 |
| Carried forward | 9,565 | 33,724 |
This page does not form part of the statutory financial statements
Page 12
Cookridge Village Association
Detailed Statement of Financial Activities for the Period 1 February 2021 to 31 August 2021
| Period | Period | |
|---|---|---|
| 1.2.21 | 1.9.19 | |
| to | to | |
| 31.8.21 | 31.1.21 | |
| £ | £ | |
| Charitable activities | ||
| Brought forward | 9,565 | 33,724 |
| Improvements to property | 656 | 2,125 |
| Plant and machinery | 175 | 584 |
| 10,396 | 36,433 | |
| Support costs | ||
| Governance costs | ||
| Accountancy fees | 1,469 | 3,386 |
| Legal and professional fees | 4,548 | 221 |
| Licences | 23 | 21 |
| 6,040 | 3,628 | |
| Total resources expended | 16,436 | 40,464 |
| Net income/(expenditure) | 6,797 | (8,640) |
This page does not form part of the statutory financial statements
Page 13