Charity registration number 1196037 NEW BURY COMMUNITY ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THEYEAR ENDED 30 SEPTEMBER 2023 NEW BURY COMMUNIryASSOCIATION LEGALAND ADMINISTRATIVE INFORMATION Trustee5 M5 Y Galloway Mr M Clarke Ms M Hunt M5 D Carthy MrT Muiiay (Appointed 30luly 20231 (Appointed 14 August 20241 Charity number 1196037 Principal address The New Bury Community Centre I Charles Place Bury St Edmunds Suffolk IP32 6TD Independent examinèr Gascoynes Gascoyne House Moseleys Farm Business Centre Fornham All Saint5 Suffolk IP28 61Y NEW BURY COMMUNIryASSOCIATION CONTENTS Page Trustees. report Independent examiner's report Statement ollinancial activities Bèlancè sheet Note5 to the financial statements 5-12 - - - ## Yvonne Galloway Yvonne Galloway (Dec 4, 2024 22:36 GMT) - 1 - NEW BURY COMMUNIryASSOCIATION INDEPENDENT EXAMINER'5 REPORT TOTHE TRUSTEES OF NEW BURY COMMUNITY ASSOCIATION We report to the truste@s on our @xamination of the financial statements ol New Bury Community Association (the charity) lor the year ended 30 September 2023. Re5pon5ibilitie5 and ba515 of report As the trustees ol the charity you are responsible loi the preparation ol the financial statements in accordance with the requirements olthe Charities Act 2011 (the 2011 Act). We report in respect ol our examination of the charity's financial statements c3rried out under section 145 01 the 2011 Act. In carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145 15llbl ol the 2011 Act. Independent examiner's statement Youi attenliDn Is drawn to the lact that the charity has prepared financial statement5 in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Siaternent ol Recommended Practice issued on l April 2005 which is referred to in the extsnl regulations bul has now been wiihdrawn. We understand that this has been done in order for financial slaternenls to provide a true and lair view in accordance with GenerallyAccepled Accounting Practice effective lor reporting periods beginning on or after I january 2015. We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause lo believe that In any material respect.. accounting records were not kept in respeci olthe charity as required by section 130 olthe 2011 Act,, or the financial statements do not accord with those records.. or the financial slalements do not comply with the applicable requirements concerning the form and content ol accounts set out in the Charities (Accounts and Reports) Regulations 2008 oihei than any iequiremeni thai the accounts give a true and lair view which Is not a matter considered as part olan Independent examination, We have no concerns and have corne 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 ol Ihe financial statements to be leèched. Gascoynes Gascoyne House M05eleys Farm Bu5ines5 Centre Foinham All Saints Suffolk IP28 61Y Dated.. 3 December 2024 NEW BURY COMMUNIryASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR IHE YEARSNDSD 3aSSFIEMSER2023 Unrestricted funds 2023 Reslricied funds 2023 Total Unrestricted funds 2022 Resliicled funds 2022 Total 2023 2022 Notes IncamÈ from.. Donations and legacies Charitable activities Investments 18,022 123,803 5,862 4,850 22,872 123,803 5,862 34,976 34,976 67,721 67,721 Total income 147,687 4.850 152,537 67,721 34,976 102,697 Expendilure on.. Charitable activities 108,766 12,507 121,273 60,223 13,876 74,099 Nel incoming/loulgoingl resources 38,921 17,6571 31,264 7,498 21,100 28,598 Other recognised gains and105se5 Revaluation oltangible fixed assets 457,740 457.740 Nel movement in funds 38,921 450,083 489,004 7,498 21,100 28,598 Fund bèlènces èt l Ociober 2022 7,498 21,100 28,598 Fund balances at 30 September 2023 46,419 471.183 517,602 7.498 21,100 28,598 The statemenl ollinancial activities inclucles all gains and losses recognised in the year. All income and expenditure derive from continuing activities. ## Yvonne Galloway Yvonne Galloway (Dec 4, 2024 22:36 GMT) - 4 - NEW BURY COMMUNIryASSOCIATION NOTES TO THE FINANCIAL STATEMENTS EOR IHE YSARSNDSD 30SEPIEMSSR2023 Accounting policies Charity information The New Bury Community Association is a charity registered In England and Wales. The r￿IStered office Is I Charles Place, Bury Sl Edmunds, Suffolk, IP32 6TD. 1.1 Accounting eonvention The financi31 statements have been prepared in accordance with the charily's governing document, the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in Ihe UK and Republic ol Ireland" I'FRS 102,1 and the Charities SORP "Accounting and Reporting by Chafltios.. St31ement ol Recommonded Practico applicable to charities preparing their account5 in accordance with the Financial Reporling Siandard applicable ID the UK artj Republic ol Ireland IFRS 1021" leffeclive I january 20191. The charity is 3 Public Benefit Entity as defined by FRS 102. The charity has taken advantage ol the provisions in the SORP lor charities not to prepare a Statement ol Cash Flows. The financial statements have departed Irorn the Charities (Accounts and Reports) Regulations 2008 only lo the extent required to provide a true and lair view. This departure has Involved following the Statement ol ReiDmmended Practice lor chariiies applying FRS 102 rather than the version ol the Statement ol Recommended Practice which is referred lo in the Regulations but which has since been withdrawn. The financial stalements are prepared in sterling, which is the function81 currency ol the charity. Monetary amounts in these financial sialements are rounded to the nearest £. The financial statements have been prepared under Ihe historical cost convention, Imodified lo indude the revaluation ol freehold properties and lo include investment properties and certain financial instruments al lair valuel. The principal accounting policies adopted are sei out below. 1.2 Going concern Al the lime ol approving the financial statements, the trustees have a reasonable expectation that the chaiily has adequate resources lo continue In operation31 existence lor the foreseeable future. Thus the trustees continue lo adopl Ihe going concern basis olaccounting in preparing the financial statements. 1.3 Charitable lunds Unrestricted funds are available lor use at the discretion olthe trustee5 in luriherance of their charitable objectives. Reslricled funds are subject 10 Specific conditions by donors as to how they may be used. The pur￿SeS and uses ol the restricted funcls are set out in the note5 to the financial statements. Encjowmenl funds are subject to specific conditions by donors that the capital must be maintained bythe charity, 1.4 Income Income Is recognised when the ch3rity Is legally entitled to It after 3ny performance Conditions hale been met, the amoLint5 can be measured reliably, and it 15 probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified ol the donation, unless perform3nce conditions require deferral ol the amount. Incoffle tax recoverable in relation to donalions received under Gift Aid or deeds of covenant is recognised at the time ofthe donation. Legacies are recognised on receipt or otherwise il the charity has been notified ol an impending d6tribution. the amount is known, and receipt 15 expected. Ilthe atnount is not known, the legacy istreated a5 a contingenta55et. NEW BURY COMMUNIryASSOCIATION NOTES TO THE FINANCIAL STATEMENTS ICQNTINUEDI EOR IHE YSARSNDSD 30SEPIEMSSR2023 Accounting policies Iconiinuedl 1.5 Expenditure Expenditure 15 recogni5ed once there 15 a legal or con5truclive obligalion to transfer econofflic bEnefit to a third party, it is probable that a transfer ol economic benefits will be required In settlement, and the amount ol Ihe obligation can be ea5ured reliably. Expenditure 15 cla55ified by activity. The costs 01 each activity are fflade up ol the total of dirEct cost5 and shared costs, Including SUPPOrt casts involved in undertaking each activity. Direct costs attributable to 3 single activity 3re 311ocated directly to that activity. Shared c0515 which contribute to fflore than one activity 3nd Support costs which are not attributable to 3 single aclivity are apportioned between thaso activities on 3 basis consistent with the use ol resources. Cenlral 51aff costs are allocated on the ba515 01 time spent, and depreciation charges are allocaled on the portion ol the asset s use. 1.6 Investment property Investmenl property, which is property held to earn rentals and/Dr for capital appreci3tion, is initially recognised at cost, which includes Ihe purchase cosi and any directly attributable expenditure. Subsequenlly il is measured al lair value at the reporting end dale. The surplus Dr deficit on revaluation Is recognised In profit or loss. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at ca11 with banks, other short-term liquid investments with original maturities ol three rnonths or less. and bank overdrafts. Bank overdrafts are shown within bc)rrowings in current 1.8 Financial instruments The charity has elected lo apply the provisions ol Section 11 'Basic Financial Instruments. and Section 12 '0thei Financial Instrumen15 Issue5 01 FRS102 to all ol 115 linanc131 Instrumenls. Financial inslruments are recogni5ed in the charity's balance sheet when the charity bécomes party to the contractual provisions ol the instrument. Financial assets and liabilities are offset, with the nel amounts presenied in the financial statements, when there is a legally enforceable right to sel off the recognised amounts and Ihere is an inlention lo settle Dn a net basis or lo realise the asset Sasicfinancialassets Basic financial assets. which include debtors and cash and bank balances, are initially measured a transaction price including tr3n5action costs and are 5ub5equently carried at amort15ed c05t using the effective interest methocj uDles5 the arrangement conslilules a financing Iransaclion, where the transaction is measured al Ihe present value of the future ieceipts di5counled at a market rale ol interesl. Financial a55ets classified a5 receivable within one year ale not amort15ed. Basic financial liabilitie5, including creditor5 and bank loan5 are initially recogni5ed at traD5aCtion price unless the arrangement conslilules a financing transaction, where the debt Instrument Is measured at the present value DI th@ future payrnent5 discounted at a market rate ol interest. Financial liabilitie5 cla55ilied as payable within one year ale Dot amortisod. Debt instrumenls are subsequentlyc3rried at amortised cost, using the effective interest rale method. Trade creditors are obligations to pay lor goods or services that have been acquired in the Ordin￿ course ol operations from Suppliers. Arnount5 payable are cla55ified a5 current li3bilitie5 il payment 15 due within one year or le55.11 not, they are presented as non-current liabilities. Trade creditors are recognised Initially at transaction price and subsequently measured at amorti5ed cost Using the effective interest method. Derecognition ofjfio3ocialliabi/ities Financial liabilities are derecognised when thechaiily s conlmctual obligètions expire or are discharged 01 cancelled. 1.9 Employee benefits The cost ol any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benÈlits are rocognised immed13tely as an expense when the charity is demonstrably committed to lerminalÈ the employment olan employee orto provide terrnination benefits. NEW BURY COMMUNIryASSOCIATION NOTES TO THE FINANCIAL STATEMENTS ICQNTINUEDI EOR IHE YSARSNDSD 30SEPIEMSSR2023 Critical accounting eslimates and judgements In the application ol the charity's accounting policies. the trustees are reouired to m3ke judgeM￿t$, estimates and a55umption5 about Ihe carrying amount of a5set5 and liabilitie5 that are not readily apparent from other 50urce5. The estimatos and associated assumptions are based on historical experience and other laclors that are (Dnsidored lo be relevant. Actual results may differ from these e5timate5. The e51imates and underlying a55umptlOn5 are reviewed on an ongoing ba515. Revi5ion5 to accounting e5timate5 are recognised In the period in which the estimate Is revised where the revision affects only that period, or in tho period olthe revision and future periods where the revision affects both current and future period5. Donations and legacie5 Unrestricled funds Restricted funds Total Restricted funds 2023 2023 2023 2022 Donations and gifts Local authority grants 18,022 18,022 4,850 4,850 34,976 18,022 4,850 22,872 34,976 Charitable activities Sales 2023 Sales 2022 Room Hire 123,803 67,721 Investments Unrestricted funds Total Unre5trictecl funds Total 2023 2023 2022 2022 Rental incorne 5.862 5,862 NEW BURY COMMUNIryASSOCIATION NOTES TO THE FINANCIAL STATEMENTS ICQNTINUEDI EOR IHE YSARSNDSD 30SEPIEMSSR2023 Charitable activities Grant Expenses Grant Expenses 2023 2022 Kitchen Grani Expenses Furniture GTrnt Expense Open Day Expen5e5 Restart Grant Expenses Stsrtup Grant Expenses Chr15tmas Grant Expense5 Winter Response Grant Expenses Locality Grant Expenses SummerActivities Grant Expense5 Coronalion Gianl Expense5 2,564 6,404 507 692 3,709 170 1,382 6,996 934 824 828 714 541 12,507 13.876 Share ofsupport costs (see note 71 Share olgovernance costs Isee note 71 107,343 1,423 59,491 732 121,273 74,099 Analysis by fund Unrestricted funds Restricted funds 108.766 12,507 60,223 13,876 121.273 74,099 #o DJ W) Ln N Ln #omty co o) or EO ryj A Ln Ln m(0 co o) o r m_ LO ¢ Lf) cn o) A r m_ ¢P * Lf) NEW BURY COMMUNIryASSOCIATION NOTES TO THE FINANCIAL STATEMENTS ICQNTINUEDI EOR IHE YSARSNDSD 30SEPIEMSSR2023 Trustees For 2023, no trustees were reimbursed. For 2022, one trustee was reimbursed a totsl of £554 in expenses. Employees The average monthly number ol employees during the year was.. 2023 Number 2022 Number Total There were no employee5 whose annual remuneralion was rnore than £60,000. 10 Taxation The charity is exernpt from tax on incoffle and gains falling within section 505 01 the Taxe5 Act 1988 or section 252 01 the Taxation ol Chargeable Gains Act 1992 to the extent that these are applied lo its charitsbleobjecls. Investment property 2023 Fair value Al l Ociober 2022 Additions through external acquisition Net gains or losses Ihrough lair value adju51mentS 2,260 457,740 At 30 Septernber 2023 460,OC() 12 Debtor5 2023 2022 Amounts falling due within one year.. Prepayments and accrued income 779 730 13 Creditors.. amounts tslling due within oneyear 2023 2022 Other creditors Accrua15 and deferred income 1,796 1,855 1,796 732 3,651 2,528 10- Trj ro ryj Ln EO Ltr ￿ ( co O m o N cTh oj Lf) Igg8-g8 LL￿ ￿ O c£ (n onul u NEW BURY COMMUNIryASSOCIATION NOTES TO THE FINANCIAL STATEMENTS ICQNTINUEDI EOR IHE YSARSNDSD 30SEPIEMSSR2023 15 Analysis ol net assets bettween funds Unre5trictecl funds 2023 Restricted funds 2023 Total Unrestricted funds 2022 Restricted funds 2022 Total 2023 2022 Fund balances at 30 September 2023 are represented by". Investment properties 2,260 44,159 457,740 13,443 460.￿0 57,602 7,498 21,100 28,598 46,419 471,183 517,602 7,498 21,100 28,598 16 Related paty transactions During the year. Debbie Carthy. Trustee, provided cleaning services lo the Centre at a commercial arms-length value. The total ol these transactions amounted 10 £13,321. Al the yeai-end dale, there was a balance owing to Debbie Carlhy ol 12- ## New Busy Community Association - 2023 accounts Final Audit Report 2024-12-04 Created: 2024-12-03 By: Gascoynes Accounts (Accounts@gascoynes.co.uk) Status: Signed Transaction ID: CBJCHBCAABAA0mCvvUXiLmUM2mDOP8HHl8UFbJs8Hr7B ## "New Busy Community Association - 2023 accounts" History Document created by Gascoynes Accounts (Accounts@gascoynes.co.uk) 2024-12-03 - 12:17:10 GMT- IP address: 81.149.163.35 Document emailed to yvonne.galloway@outlook.com for signature 2024-12-03 - 12:17:46 GMT ## Email viewed by yvonne.galloway@outlook.com 2024-12-03 - 14:29:43 GMT- IP address: 90.241.56.72 Email viewed by yvonne.galloway@outlook.com 2024-12-04 - 22:22:05 GMT- IP address: 84.67.226.240 yvonne.galloway@outlook.com entered valid password assigned by the sender. 2024-12-04 - 22:34:24 GMT Signer yvonne.galloway@outlook.com entered name at signing as Yvonne Galloway 2024-12-04 - 22:36:34 GMT- IP address: 84.67.226.240 Document e-signed by Yvonne Galloway (yvonne.galloway@outlook.com) Signature Date: 2024-12-04 - 22:36:36 GMT - Time Source: server- IP address: 84.67.226.240 Agreement completed. 2024-12-04 - 22:36:36 GMT