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2025-05-31-accounts

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CHARITY REGISTRATION NUMBER: 1194835

Fulwell Community Association CIO Unaudited Financial Statements

31 May 2025

CS ACCOUNTING LIMITED

5 McMillan Close Saltwell Business Park Low Fell Tyne & Wear NE9 5BF

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Fulwell Community Association CIO

Trustees' Annual Report (continued)

Year ended 31 May 2025

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 May 2025.

Reference and administrative details

Registered charity name Fulwell Community Association CIO Charity registration number 1194835 Principal office Chapman Street Sunderland SR6 8HS The trustees A Connolly Treasurer M Hartnack P Davis Chairperson V Lownds SL Connolly Secretary Independent examiner C Smith CS Accounting Limited 5 McMillan Close Saltwell Business Park Low Fell Tyne & Wear NE9 5BF

The trustees

Structure, governance and management

The FCA became a Charitable Incorporated Organisation on the 17th June 2021. 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.

Objectives and activities

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

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, Line Dancing, Drama Classes, Parents & Toddlers Group, Art Club, Karate, Weight Management, Yoga, Iaido and Tai Chi. The community centre also accommodates public meetings and a Presbyterian Evangelical church.

Achievements and performance

During the period 2024/25 there has been no change in the number of groups hiring the hall. Due to the large number of groups hiring the hall, the number of available time slots for new groups is very limited. 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.

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Fulwell Community Association CIO

Trustees' Annual Report (continued)

Year ended 31 May 2025

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

Financial review

It has been another successful year for the charity and the trustees are pleased with the current state of the charity's finances.

The net incoming resources for the year amounted to £9469 (2024 deficit £2549). Balance of reserves carried forward £69670 (2024 £60201).

03-02-2026 The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:

A Connolly Treasurer

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Fulwell Community Association CIO

Independent Examiner's Report to the Trustees of Fulwell Community Association CIO

Year ended 31 May 2025

I report to the trustees on my examination of the financial statements of Fulwell Community Association CIO ('the charity') for the year ended 31 May 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

C Smith Independent Examiner 5 McMillan Close Saltwell Business Park Low Fell Tyne & Wear NE9 5BF

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Fulwell Community Association CIO

Statement of Financial Activities

Year ended 31 May 2025

2025 2025 2024
Unrestricted
funds Total funds Total funds
Note
£
£ £
Income and endowments
Donations and legacies 4
23,535
23,535 22,424
Investment income 5
1,791
1,791 1,184
------------------------------ ------------------------------ ------------------------------
Total income 25,326 25,326 23,608
============================== ============================== ==============================
Expenditure
Expenditure on charitable activities 6,7
15,857
15,857 26,157
------------------------------ ------------------------------ ------------------------------
Total expenditure 15,857 15,857 26,157
============================== ============================== ==============================
------------------------------ ------------------------------ ------------------------------
Net income/(expenditure) and net movement in
funds 9,469 9,469 (2,549)
============================== ============================== ==============================
Reconciliation of funds
Total funds brought forward 60,201 60,201 62,750
------------------------------ ------------------------------ ------------------------------
Total funds carried forward 69,670 69,670 60,201
============================== ============================== ==============================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 7 to 12 form part of these financial statements.

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Fulwell Community Association CIO

Statement of Financial Position

31 May 2025

2025 2024
Note £ £ £
Fixed assets
Tangible fixed assets 12 5,308 4,207
Current assets
Cash at bank and in hand 64,722 56,714
Creditors: amounts falling due within one year 13 360 720
------------------------------ ------------------------------
Net current assets 64,362 55,994
------------------------------ ------------------------------
Total assets less current liabilities 69,670 60,201
------------------------------ ------------------------------
Net assets 69,670 60,201
============================== ==============================
Funds of the charity
Unrestricted funds 69,670 60,201
------------------------------ ------------------------------
Total charity funds 14 69,670
==============================
60,201
==============================

These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by: 03-02-2026

A Connolly Treasurer

The notes on pages 7 to 12 form part of these financial statements.

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Fulwell Community Association CIO

Statement of Cash Flows

Year ended 31 May 2025

Year ended 31 May 2025
2025 2024
£ £
Cash flows from operating activities
Net income/(expenditure) 9,470 (2,549)
Adjustments for:
Depreciation of tangible fixed assets 559 468
Other interest receivable and similar income (1,791) (1,184)
Accrued (income)/expenses (360) 360
------------------------- -------------------------
Cash generated from operations 7,878 (2,905)
Interest received 1,791 1,184
------------------------- -------------------------
Net cash from/(used in) operating activities 9,669 (1,721)
========================= =========================
Cash flows from investing activities
Purchase of tangible assets (1,660)
------------------------- -------------------------
Net cash used in investing activities (1,660)
========================= =========================
Net increase/(decrease) in cash and cash equivalents 8,009 (1,721)
Cash and cash equivalents at beginning of year 56,714 58,435
------------------------------ ------------------------------
Cash and cash equivalents at end of year 64,723 56,714
============================== ==============================

The notes on pages 7 to 12 form part of these financial statements.

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Fulwell Community Association CIO

Notes to the Financial Statements (continued)

Year ended 31 May 2025

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Chapman Street, Fulwell, Sunderland, SR6 8HS.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

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Docusign Envelope ID: 7E87B01B-BBC6-4DF2-A22C-31F920AD5F26

Fulwell Community Association CIO

Notes to the Financial Statements (continued)

Year ended 31 May 2025

the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings - 10% reducing balance

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Docusign Envelope ID: 7E87B01B-BBC6-4DF2-A22C-31F920AD5F26

Fulwell Community Association CIO

Notes to the Financial Statements (continued)

Year ended 31 May 2025

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying

value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial

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Fulwell Community Association CIO

Notes to the Financial Statements (continued)

Year ended 31 May 2025

assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2025 Funds 2024
£ £ £ £
Donations
Sandra's Yoga 2,464 2,464 2,818 2,818
Line Dancing 1,605 1,605 1,745 1,745
Tai Chi 2,096 2,096 1,950 1,950
Karate 2,157 2,157 1,975 1,975
Toddlers 904 904 700 700
Art Group 1,074 1,074 1,000 1,000
Dance Group 1,144 1,144 1,630 1,630
Big Science 650 650 750 750
laido 1,654 1,654 1,590 1,590
Slimmers 2,250 2,250 1,920 1,920
Field Club 512 512 480 480
Redby Child Minders 463 463 495 495
Private Hire 696 696 1,270 1,270
Church SEPC 4,454 4,454 3,600 3,600
Skinny Pigs 125 125
Fulwell Junior School 35 35 376 376
Drama Group 323 323
Other income 1,054 1,054
------------------------------ ------------------------------ ------------------------------ ------------------------------
23,535 23,535 22,424 22,424
============================== ============================== ============================== ==============================
5. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2025 Funds 2024
£ £ £ £
Bank interest receivable 1,791 1,791 1,184 1,184
========================= ========================= ========================= =========================
6. Expenditure on charitable activities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds 2025 Funds 2024
£ £ £ £
Support costs 15,857 15,857 26,157 26,157
============================== ============================== ============================== ==============================

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Fulwell Community Association CIO

Notes to the Financial Statements (continued)

Year ended 31 May 2025

7. Expenditure on charitable activities by activity type

Support Total funds Total fund
costs 2025 2024
£ £ £
Support costs 15,857 15,857 26,157
============================== ============================== ==============================
8. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
2025 2024
£ £
Depreciation of tangible fixed assets 559 468
=============== ===============
9. Independent examination fees
2025 2024
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 360 360
=============== ===============

10. Staff costs

The average head count of employees during the year was Nil (2024: Nil).

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

11. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

12. Tangible fixed assets

Fixtures and
fittings Total
£ £
Cost
At 1 June 2024 10,390 10,390
Additions 1,660 1,660
------------------------------ ------------------------------
At 31 May 2025 12,050 12,050
============================== ==============================
Depreciation
At 1 June 2024 6,183 6,183
Charge for the year 559 559
------------------------------ ------------------------------
At 31 May 2025 6,742 6,742
============================== ==============================
Carrying amount
At 31 May 2025 5,308 5,308
============================== ==============================
At 31 May 2024 4,207 4,207
============================== ==============================

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Fulwell Community Association CIO

Notes to the Financial Statements (continued)

Year ended 31 May 2025

13. Creditors: amounts falling due within one year

2025 2024 2024
£ £
Accruals and deferred income 360 720
=============== ===============
14. Analysis of charitable funds
Unrestricted funds
At At
1 June 2024 Income Expenditure 31 May 2025
£ £ £ £
General funds 60,201 25,326 (15,857)
69,670
============================== ============================== ============================== ==============================
At At
1 June 2023 Income Expenditure 31 May 2024
£ £ £ £
General funds 62,750 23,608 (26,157)
60,201
============================== ============================== ============================== ==============================
15. Analysis of changes in net debt
At At
1 Jun 2024 Cash flows 31 May 2025
£ £ £
Cash at bank and in hand 56,714 8,009 64,723
============================== ========================= ==============================

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Fulwell Community Association CIO

Management Information

Year ended 31 May 2025

The following pages do not form part of the financial statements.

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Fulwell Community Association CIO

Detailed Statement of Financial Activities

Year ended 31 May 2025

2025 2024
£ £
Income and endowments
Hall rental and donations
Sandra's Yoga 2,464 2,818
Line Dancing 1,605 1,745
Tai Chi 2,096 1,950
Karate 2,157 1,975
Toddlers 904 700
Art Group 1,074 1,000
Dance Group 1,144 1,630
Big Science 650 750
laido 1,654 1,590
Slimmers 2,250 1,920
Field Club 512 480
Redby Child Minders 463 495
Private Hire 696 1,270
Church SEPC 4,454 3,600
Skinny Pigs 125
Fulwell Junior School 35 376
Drama Group 323
Other income 1,054
------------------------------ ------------------------------
23,535 22,424
------------------------------ ------------------------------
Investment income
Bank interest receivable 1,791 1,184
------------------------- -------------------------
------------------------------ ------------------------------
Total income 25,326 23,608
============================== ==============================
Expenditure
Expenditure on charitable activities
Rates and water 884 813
Light and heat 3,572 4,342
Repairs and maintenance 7,842 16,037
Insurance 655 590
Legal and professional fees 360 1,005
Telephone 48 49
Other office costs 1,937 2,853
Depreciation 559 468
------------------------------ ------------------------------
15,857 26,157
------------------------------ ------------------------------
------------------------------ ------------------------------
Total expenditure 15,857 26,157
============================== ==============================
------------------------------ ------------------------------
Net income/(expenditure) 9,469 (2,549)
============================== ==============================

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Fulwell Community Association CIO

Notes to the Detailed Statement of Financial Activities

Year ended 31 May 2025

2025 2024
£ £
Expenditure on charitable activities
Support costs
Rates & water 884 813
Light & heat 3,572 4,342
Repairs & maintenance 7,842 16,037
Insurance 655 590
Legal and professional fees 360 1,005
Telephone 48 49
Other office costs 1,937 2,853
Depreciation 559 468
------------------------------ ------------------------------
15,857 26,157
------------------------------ ------------------------------
------------------------------ ------------------------------
Expenditure on charitable activities 15,857 26,157
============================== ==============================

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