THE ARKLEY ASSOCIATION REGISTERED CHARITY NUM8ER: 1196421 Report of the Trustees and Financial Statements for the year ended 31 March 2024 Verdant A¢¢ountants Ltd 20-22 Wenlock Road London N17GU
THE ARKLEY ASSOCIATION CONTENTS FOR THE YEAR ENDED 31 MARCH 2024 PAGE Report of the Trustee6 Report of the Independent Examlner Statement of Financial Actlvltles Balance Sheet Notes to the Financlal Statements 6-10 Detailed Statement of Financial Activities 11-12
The Arkley Association CIO Registered number: Report of the Trustees 1196421 The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommendgd Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effe¢tive 1 January 20191. OBJECTIVES AND ACTIVITIES The objective of the Association is to benefit the inhabitants of Arkley and the neighbourhood by associating with local aulhorilies, voluntary organisalions, and inhabitants in a common effort to advance education and lo provide facilities in the interests of social welfare for recreation and leisure-time occup31ion lo improve the conditions of life for the inhabitants. The Association runs a community and sports centre for the purposes of achieving ils objectives. ACHIEVEMENT AND PERFORMANCE The hall Is hired out to groups to provide the amenities for the local ptspulation and to individuals for private hire. Regular groups using the hall include Arkley'5 Little Acorns Nursery School, short- mal bowling, jujitsu. woodtuming, and worship. Individual hires include parties and other celebratory events. The tennis club continues to provide an inexpensive facility lo play tennis, although the level of individual and family memberships continues lo remain at a low level. The trustees have had regard lo the guidance issued by the Charity Commission on public benefit. FINANCIAL REVIEW The financial statements are for the year ended 31 March 2024 and are shown together with comparatives for the previous period from 5 November 2022 to 31 March 2023. The Arkley Association CIO was registered in November 2021 but was unable to stsrt trading until 1 October 2022 and the figures reported in the financial statements relate lo the trading period 1 October 2022 10 31 March 2023 Trading ftsr the period prior to this has been reported in the a¢counts of The Arkley Association (Charity Reg no. 3029141, for the 18 months to 30 September 2022. Our result shows a surplus of £16,738 for the year. Taken along with the last set of numbers for the shorter period of 5 months when a deficit of £14,793. was recorded, the overall perfomiance since we've been a CIO is in accordance with expectations Reserves are held to ensure the Association can meet its liabilitses as they fall due, particulady those that will fall due at the end of the final lease of the existing village hall and its grounds. Reserves are also held lo ensure that any circumstances that reduce income or increase costs can be managed by the Association and lo ensure that the buildings, tennis facilities, green areas and car park can continue to be maintained to a level that encourages use by the community. Financial stability is very important lo the Association to ensure that it can continue to provide facilities for the local community in this part of the London Borough of Bamet. Hirings income in the year lo 31 March 2024 has been £60,266 and the only va¢ancies for use of the hall have been a couple of evenings in the week and al times during the school holidays when Little Acoms Nursery is not resident. These vacancies have enabled repairs and renewal work lo be carried out lo the hall and grounds, particularfy in areas such as the kitchen, the guttering. drains and fen¢e5. The hall is over 60 years old. We will be embarking on further programmes of renovation and renewal using our reserves in the coming yearlsl. The charity's trustees believe the charity has sufficient funds lo weather all unexpected costs In the coming year and in view of this the financial statements have been prepared as a going concern Pag8 1
STRUCTURE, GOVERNANCE AND MANAGEMENT The Arkley ASslatIon CIO ts a charilable incorporaled associatlon. The charty's const[tutn remains in line with aim5 and objects for The Arkley Ass<K¢aiion ormjinalty a9reed in the early 1960's. The managerynI commtttee is composed of ff*mbers of the Assoclats"on who also act a$ trustees and who meet regularty during the year to arrange. regulate and revthv Ihe business of the CIO. The committee welcomes new members who wosjld like to serve on the commrttee and values the skills and exwrience each bnngs lo the managem8nt ol Ouf Community resource. Commrtee members give their liTh voluntarily and receive no remuneration or benefits. The trustees offer themselves up for election at the Annual Genefal Meeknng whid) takes place in O¢tobor each year. REFERENCE AND ADMINISTRATIVE DETAILS Charity Nam• The Arktey AKlatIOn CIO Regl¥t•r•d Charlty numb•r 1196421 Prlnelp•l addr•81 Arkley Village Hall Brickfield Lane Arkley Hertfordshire ENS 3LD Tru•to M Petefsen (Chair) F H Patel {Treasurerl R M8ce Mrs K NIMaRa1 Mrs K Read Mrs J Williams (to 30.10.20231 J Worboys (to 30.10.20231 DECRAoN The trustees declare that they have approved the trustees. report above. Slgned on behalf of the ch s trustees. M Petersen Chair Date -b Page 2
INDEPENDENT EXAMINER'S REPORT Independent examiner's report to the trustees of Arkle) Assoeiation Cl(k Charity Nllmber 1196421 I rcport on thc financial statcmcnts of thc charity for thc ycar ci)dcd 31 March 2024, sct out on pagcs 4 to 10. Respeetive responsibilities of Trllstees and examiner The charity's trustees are responsible tor the preparation of the accounts in accordance with the Charities Act 2011 ('the Act,). The Charity's trustees consider that an audit is not required tor this year under section 144 of the Act and that an indcpendent examination is nccded. Where the charity's gross income exceeded £250,000 l am qualitied to undertake the examination by being a qualitied Fellow of the Chartered AssociatiorL of Certified Accountants. It is my responsibility to examine the accounts under section 145 of the Charities Act, follow the applicablc Dircctions givcn by thc Charity Commission undcr scction 145{5)(b) of thc Act, and statc whether particular matters have come to my attention. Basis of independent examiner s report My exainination was carried out in accordance with the gencral Directions given by the Charity Cotnmission. An examination includes a review ot the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations trom the trustees concerning any such matters. The procedures undcrtaken do not provide all the evidence that would be rcquircd in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view. and the report is limited to those matters set out in the statement below. Independent examiner s statement (l) In coi)nection with my examination, no material matters haTre come to my attention which give me cause to believe that, in any material respect.. the accounting records were iiol kept iii ac¢ordan¢e with se¢tion 130 of the Charities thc accounts did not accord with thc accounting rccords- or the accounts did not cotnply with th¢ applicable r¢quirements concerning the fonn and content of the accounts set out in the Charities (Accounts and Report) Regulation 2008 other than any requirement that the accountq give a 'true and fair, view which is not a matter coiisid¢red aq part of independlt examination. (2) I have no ¢on¢ems and have Come acroqs no other matters in connection '1th the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Chaweevan Williams FCCA Chartered Certified Accountant Verdant Accountants Limited 20-22 Wenlock Road, London IN 7GU. Date: 23 January 2025 Page 3
THE ARKLEY ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrgstrlcted Funds Year Ended 31.3.2024 Unrestricted Funds Period 05.11.2021 To 31.3.2023 INCOMING RESOURCES Income and Endowments Other Tradin9 Actimties 61,548 26.287 Total incoming resources 61,548 26,287 RESOURCES EXPENDED Cost of generating funds Charitable Actiwties Administrative Expenses 45.17S 1.020 40,360 950 To¢al rn$ourc88 expend•d 46.195 41,310 NETTRADING INCOMEI IEXPENDITUREI 15,353 115,0231 Intgre8t Reeelv•d 1,385 230 NET INCOMEI IEXPENDITUREI 16,738 114.7931 Tots5 lunds brought forward 10 104,184 118.977 TOTAL FUNOS CARRJED FORWARD 10 120.922 104,184 All incoming resources and reSoUS expended anse frorn continuing actiwtyes. A funds In thè year ended 31 Mar 2024 Ipenod 05.11.2021 to 31 Mar 20231 were vnrestricted Notes 1 to 10 form part of these 8ecountS Pago 4
THE ARKLEY ASSOCIATION 8ALANCE SHEET AS AT 31 MARCH 2024 311kn1 2024 31 Mar 2023 CURRENT A&SETS Debtors & prepanentS Cash at bank and in hand 1,522 149,906 161,428 1,046 125,566 126.612 CREDITORS Amounts falling due wthio one 130.606) 122,4281 NET CURRENT ASSETS 120,922 104,184 TOTAL ASSETS LESS CURRE1 UAwunES 120,922 104,184 NET AsseT8 12Q,B22 104,184 FUNDS Vtv•strided fiJnd$ I Idefiotsi io 120.922 104,184 TOTAL FUNDS 120922 104,184 The Trustees consider that the charity is enty'ued to exemption from th¢ requirement to have an audrt and m•mbgrs hav• not required the tharity to obtain an audrt for the peric¥J In quesb'on. Th? frustoes ad<n&Yge their SponSIbl11t1•s for cornplying the requirwTr)ents r¢8P8Ct to 8¢countiThJ rds nd for preparing finanryal statoments in ac¢ordarce non company &banb"es. The finantyal ststem•nts were approved by the Truste8s on 20th January 2025 a1 8ignod on their bahalf by.. M P•tsfMn ChaSmian Nots5 1 to 10 forni part ofithe arujunts P8ge S
THE ARKLEY ASSOCIATION NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 ACCOUNTING POLICIES 1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standards applicable in th$ UK and Republic of Ireland IFRS1021, and all other applicable accounting slandaTds. as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales ISORP 20191. The accounts have been drawn up in accordance with the provisions of the Charities (Accounts and Reports) Regulations 2011, and include the results af the charity's operations which are described in the Trustees, Report. all of which are continuing. Insofar as the Slalement of Recommended Praetice for Accounting and Reporting issued by the Chafily Commissioners for England & Wales, requires Compliance with specific Financial Reporting Standards. Advantage has been taken to allow the fomal of the financi81 slalements to be adapted to refiect the special nature of the charity's operation and in Order lo comply with the requirements of the SORP. 1.2 FUND ACCOUNTING General funds are unrestncled funds which are available for use * the discretion of the Trustees in lurtherance of the general obj&ctive3 of the tharity and whith have not been designated for other purp05e8. 1.3 INCOMING RESOURCES l income is recognised once the charity has enlillemenl to the income, il is probable that the income wll be reiVed and the amount ol incorne feceivable can be measured reliably. Tumovgr.. Turnover is included in incoming resources when these are receivable, except as follows." When donors specify that payments to the Charity must be used in future accounting periods, the income is deferred until those periods. en donors impose conditions which have lo be fulfilled before the Charity becomes enlilled to use such income,. the income is deferred and not included in incoming resources until the preconditions for use have been met. Voluntary inccffie. including donations, gifts and grants that provide core funding or are of a general nature, are re¢ognised where there is entitlement, certainty of receipt and the amount Can be measured with sufficient reliability. Membership fees and association fees are accounted for as and when the income is receivable Othèr Income.. Other income (fees) is recognised in the period in which the Charity is entitled to Teceipl and the amount can be measured with reasonable certainty. Income is deferred only when the Charity has lo fulfil the conditions before becoming entitled to il or where the donor has specified that the income is lo be expended in a future period. Page 8
THE ARKLEY ASSOCIATION NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Iconiinued...) 1A EXPENDITURE All expenditure is accounted for on an accruals basis and has been Included under expense categories that aggregate all costs for allocation of adivities. Where costs cannot be directly attn"butsd to particular aCtiVite$ they ha bean 8llocated on a basis consistènt with the use ol the $ourS. INVESTMENTS Listed investments are measured al fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably. DE8TORS Short lemi debtors are measured at transaction price (which is usually the invoice pricel, less any impairment losses for bad and doubtful debts. CREDITORS Short term creditors are measured at transaction price (which is usually the invoiee pricel. TAXA TION No taxation has been Prowded in the financial ststements because as a registered charity, il applies all income to ils charitable objective and is exempt in accordance with Section 505 of the Income and Corporation Taxes Act 1988. Page 7
THE ARKLEY ASSOCIATION NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Year Ended 31 03.2024 Period 05.11.2021 To 31 03.2023 2. ACTIVITIES FOR GENERATING FUNDS Hirings income- Regular Hirings income- Non rè9ular As50riation fees Misc 22.686 37,580 1,282 13.208 13.037 30 12 61.$48 26,287 Year End•d 31 03.2024 Period 05.11.2021 To 31 03.2023 3. INVESTMENT INCOME Deposit accA)unt interest 1,385 230 1.386 230 Year end•d 31 03.2024 Pertrod 05.11.2021 To 3103.2023 4. CHARITABLE ACTIVITIES COSTS- DIRECT Charitable ActiMtw$ 45,175 40.360 Page 8
THE ARKLEY ASSOCIATION NOTES TO FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 Yoar Endod 31 03.2024 Period 05.11.2021 To 31 03.2023 5. CHARITABLE ACTIVITIES COSTS- NON- DIRECT M8nagement and Administrative expens•s Leg31 and professional fetrs Audit & Accountancy fees 110 1,020 1,020 950 Year Endèd 3103.2024 Period OS.11.2021 To 31 03.2023 6. GOVERNANCE COSTS Legal and professional fees Audit & Accountancy fees 1,020 1,020 Yoar Ended 31 03.2024 Period 05.11.2021 To 31 03.2023 7. EXTERNAL PERSONNEL Average number of persons self employed by thts association The assoaation has no employees. The asstiaation has one self employed care tskw. Year Ended 31 03.2024 Period OS.11.2021 To 3103.2023 8 DEBTORS Amount falling du• wlthln on* year Other Trad8 Debtors & Prepayments 1,622 1.048 1,522 1.046 Page g
THE ARKLEY ASSOCIATION NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Year Ended 31.03.2024 Ptrriod 05.11.2021 To 31.03.2023 CREDITORS Arnounts falling due within onè year Trade creditors Other cltar$ Accrua15 25,811 4,695 21.588 30.506 22,428 10. MOVEMENT IN FUNDS Movement In Ivnda At 01.04.2023 At 31.03.2024 UnreSttted fynd8 General fund- a$ pVioUslY statsd 104,184 16.738 120.922 TOTAL FUNDS 120,922 Net movernent in lunds. induded in th¢ above afv as follows.. Incomlng Re•Ou¢S Mov•ment Unr•8trleted f4Fnd• General fvnd 62,933 146,1951 16,738 TOTAL FUNDS 82.933 46.195 16.738 Page 10
THE ARKLEY ASSOCIATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 This schedu18 does not part ofthe statutory 8ccounts Unre$trfet•d Fulld¥ Year Ended 31.03.2024 Unrestricted Funds Period 05.11.2021 To 31.03.2023 INCOMING RESOURCES Income and Endowrngnts Hirings Income- Regular Hirings In¢ome- Non regular Assotsation lees Misc 22,686 37,580 1,282 13,037 13,208 30 12 61,548 26,287 Investment Income Interest Received 1,385 230 Totsl Incoming re8ourc•• 62,933 26,517 Page 11
THE ARKLEY ASSOCIATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 This s¢hedule does not form part of the statutory aCGounts Unrestrlcted Fund$ Year Endèd 31 03.2024 Unrestrictsd Funds Period 05.11.2021 To 31 03.2023 RESOURCES EXPENDED Dlre¢t Charitablè Activits¢s'. Hall Cleaning & Administration Hall & Tennis hut maintenance Rent & Rates Light & He Insurance Buikling & Contents 25.004 8,499 2,354 6,207 2,832 13.330 19,716 549 4,990 1,775 44.896 40,360 Manogement & AdmInI•tra¥è'. General Expenses 279 110 279 110 Governance eolts Legal and professional feas Audit & Accountancy fees 1,020 1,020 TOTAL RESOUR¢es EXPENDED 46.195 41,310 Page 12