2022-05-31-accounts

Aim and purposes

Fulwell Community Association (FCA) manages premises & facilities for the local community.

Objectives and Activities

The FCA is committed to enabling as many people as possible from the community to benefit the large hall and adjoining room and kitchen. The FCA support a wide range of activities such as; Sequence Dancing, Wearside Field Club (talks & walks), Women's Institute, Parents & Toddlers Group, Art Club, Weight Management, Yoga, Iaido, Carpet Bowls. The community centre also accommodates public meetings, Children's Parties, Community Meetings and a Presbyterian Evangelical church.

Achievements and Performance

The FCA became a Charitable Incorporated Organisation on the 17[th] June 2021. It has seen a steady growth in groups using the community facilities since COVID closed the premises and a number of groups failed to return. The majority of groups using the facilities are charged at business rates. There are a small number of organisations who hire the hall under the community group’s scheme.

The income generated by all groups has allowed the community centre to re-invest in its fabric and fittings.

The community centre has also made a donation of £200 to Redby Community Centre.

Administrative information

Fulwell Community Association is situated in Sunderland. The correspondence address is Fulwell Community Association, Chapman Street, Fulwell SR6 8HS.

The FCA is an Incorporated Charity and registered with the Charity Commission. FCA Trustees who have served during the period of its incorporation on the 17th June 2021 until the date this report was approved are:

Chairperson: Pamela Davies Secretary: Sandra Boyers Treasurer: Anthony Connolly Trustee: Michael Hartnack Trustee: Allison Hicks ( to 30/10/21) Trustee: Julie Thubron ( to 30/10/21)

The FCA trustees are responsible for making decisions on all matters of general concern and importance to the community centre including deciding on how the funds of the FCA are to be spent.

Financial Review

Accounting policies

The principal accounting policies, all of which have applied consistently throughout the year, are set out below. As the income is between £10,000 and £25,000 no external accounting is required.

a) Fund accounting

• i) Unrestricted funds and are general funds that are available for use at the trustees’ discretion in furtherance of any of the objectives of the charity.

• ii) Designated funds are unrestricted funds set aside at the discretion of the trustees for specific purposes. The designated fund for fixed assets is that part of unrestricted funds that represents fixed assets used in the day to day operations of the charity.

• iii) Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose and the restriction means that the funds can only be used for specific projects or activities.

b) Incoming resources

Income received from all groups and individuals that use the community centre.

c) Resources expended

Expenditure is recognised when a liability is incurred. Funding provided through contractual agreements and performance related grants are recognised as goods or services are supplied. Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

d) Donated Goods and volunteer and other donated services

The charity has not received any goods for use by the charity itself.

The value of services provided by volunteers is not incorporated into these financial statements.

e) Taxation

Irrecoverable VAT is not separately analysed and is charged to the statement of financial activities when the expenditure to which it relates is incurred and is allocated as part of the expenditure to which it relates.

i) Operating leases

Rental payments under operating leases are charged as expenditure as incurred over the term of the lease.

f) Tangible fixed assets and depreciation

Tangible assets are stated at cost and depreciated over their useful economic lives at the following rates:

• i) Office furniture and equipment 5 – 10 years ii) Hall fixture and fittings 5 – 10 years

• iii) Computer equipment 3 years

Where the recoverable amount of a tangible asset is found to be below its net book value, the asset is written down to its recoverable amount and the loss on impairment is charged to the relevant expenditure category of the statement of financial activities. Where an asset is not primarily used to generate income its impairment is assessed by reference to its service potential on its initial acquisition. In the year, the charity currently has no tangible fixed assets to which impairment provisions apply.

g) Investments

Banking investments to generate interest were withdrawn in August 21 and consolidated with the current bank account.

h) Trustees’ expenses and remuneration and related party transactions

Trustees are not remunerated. They are paid expenses for attending meetings and duties directly related to their duties as trustee. In 2021/22, 2 trustees were paid total expenses of £461.

	FINANCIAL STATEMENTS UP TO 30th	FINANCIAL STATEMENTS UP TO 30th	May 2022
	Unrestricted	Designated	Restricted	Endowment	Total
	Funds	Funds	Funds	Funds	2022
	£	£	£	£	£
RECEIPTS AND PAYMENTS ACCOUNT
Receipts
Payments received from Activities	£19,782	-	-	-	£19,782
Grants
UK Government sources	-	-	-	-	-
Local Authority	-	-	-	-	-
	-	-	-	-	-
Donations
Fund raising	£300	-	-	-	£300
Total Income	£20,082				£20,082
STATEMENT OF ASSETS AND
LIABILITIES
Cash Funds
Bank current account	£49,286	-	-	-	£49,286
Assets					£5,194
Total Assets	£49,286				£54,480
Governance costs
Trustee Expenses		£461	-	-	£461
Durham Community Action		£270	-	-	£270
Donations (Redby)	£200	-	-	-	£200
Utilities and Payments		£9,495	-	-	£9,495
Total	£200	£10,226			£10,426