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 ASs￿latIon CIO ts a charilable incorporaled associatlon. The charty's const[tut￿n remains in line with aim5 and objects for The Arkley Ass