Charity registration number CE027884 (England and Wales)
FERRYBRIDGE COMMUNITY CENTRE ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2023
FERRYBRIDGE COMMUNITY CENTRE ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
D Kinch N McManus
(Appointed 11 January 2023) (Appointed 11 January 2022)
Charity number (England and Wales) CE027884
Independent examiner
Haigh Accountants Limited Grange Cottage Fulham Lane Womersley Doncaster DN6 9BW
FERRYBRIDGE COMMUNITY CENTRE ASSOCIATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 9 |
FERRYBRIDGE COMMUNITY CENTRE ASSOCIATION
TRUSTEES' REPORT
FOR THE PERIOD ENDED 31 MARCH 2023
The Trustees present their annual report and financial statements for the Period ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: 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)".
Objectives and activities
Public benefit
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Achievements and performance
Significant activities and achievements against objectives
The charity has successfully operated the community centre, thus benefitting the residents of Ferrybridge and Knottingley.
Financial review
Reserves policy
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the Period.
Structure, governance and management
The Charity is a company limited by guarantee.
The Trustees who served during the Period and up to the date of signature of the financial statements were: D Kinch (Appointed 11 January 2023) N McManus (Appointed 11 January 2022)
Recruitment and appointment of trustees
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The Trustees' report was approved by the Board of Trustees.
N McManus
Trustee
6 February 2025
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FERRYBRIDGE COMMUNITY CENTRE ASSOCIATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF FERRYBRIDGE COMMUNITY CENTRE ASSOCIATION
I report to the Trustees on my examination of the financial statements of Ferrybridge Community Centre Association (the Charity) for the Period ended 31 March 2023.
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.
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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I have completed my examination. I confirm that no 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 Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
Haigh Accountants Limited
Grange Cottage Fulham Lane Womersley Doncaster DN6 9BW 6 February 2025
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FERRYBRIDGE COMMUNITY CENTRE ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 31 MARCH 2023
| Unrestricted | ||
|---|---|---|
| funds | ||
| 2023 | ||
| Notes | £ | |
| Income from: | ||
| Donations and legacies | 3 | 94,783 |
| Charitable activities | 4 | 47,442 |
| Total income | 142,225 | |
| Expenditure on: | ||
| Charitable activities | 5 | 136,136 |
| Total expenditure | 136,136 | |
| Net income and movement in funds | 6,089 | |
| Reconciliation of funds: | ||
| Fund balances at 11 January 2022 | - | |
| Fund balances at 31 March 2023 | 6,089 |
The statement of financial activities includes all gains and losses recognised in the Period. All income and expenditure derive from continuing activities.
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FERRYBRIDGE COMMUNITY CENTRE ASSOCIATION
BALANCE SHEET
AS AT 31 MARCH 2023
| Notes Current assets Cash at bank and in hand Net current assets The funds of the Charity Unrestricted funds 9 The financial statements were approved by the Trustees on 6 February 2025 N McManus Trustee |
2023 £ 6,089 |
£ 6,089 |
|---|---|---|
| 6,089 | ||
| 6,089 | ||
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FERRYBRIDGE COMMUNITY CENTRE ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2023
1 Accounting policies
Charity information
Ferrybridge Community Centre Association is a registered charity.
1.1 Reporting period
The charity is reporting for an extended first period ending from 11th January 2022 to 31st March 2023.
1.2 Accounting convention
The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: 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)". The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.3 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
1.5 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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FERRYBRIDGE COMMUNITY CENTRE ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
1.6 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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FERRYBRIDGE COMMUNITY CENTRE ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2023
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | ||
| £ | £ | |
| Donations and gifts | 12,639 | - |
| Grants | 82,144 | - |
| 94,783 | - |
4 Income from charitable activities
| Unrestricted | |
|---|---|
| funds | |
| 2023 | |
| £ | |
| Ancillary trading income | 31,156 |
| Opening funds | 16,286 |
| 47,442 | |
| Analysis by fund | |
| Unrestricted funds | 47,442 |
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FERRYBRIDGE COMMUNITY CENTRE ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2023
5 Expenditure on charitable activities
| Heading | |
|---|---|
| #ac982 | |
| 2023 | |
| £ | |
| Direct costs | |
| Staff costs | 37,800 |
| Utilities | 23,342 |
| Rates | 2,433 |
| Repairs | 525 |
| Computer cots | 631 |
| Accountancy | 300 |
| Professional fees | 240 |
| Telephone | 918 |
| Play park | 67,205 |
| Bank charges | 115 |
| Insurance | 1,561 |
| Licences | 180 |
| Sundry expenses | 886 |
| 136,136 | |
| Analysis by fund | |
| Unrestricted funds | 136,136 |
6 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the Period.
7 Employees
The average monthly number of employees during the Period was:
| Employment costs Wages and salaries |
2023 Number 3 |
|---|---|
| 2023 £ 37,800 |
There were no employees whose annual remuneration was more than £60,000.
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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FERRYBRIDGE COMMUNITY CENTRE ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2023
9 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At | 11 | January | Incoming | Resources | At | 31 | March | |
|---|---|---|---|---|---|---|---|---|
| 2022 | resources | expended | 2023 | |||||
| £ | £ | £ | £ | |||||
| General funds | - | 142,225 | (136,136) | 6,089 |
10 Related party transactions
There were no disclosable related party transactions during the Period ( - none).
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