WATERCOLOUR COMMUNITYSPACE Financi81 Statements Forthe Year Ended: 30 November2023 Charity Number-. 1201099 WATERCOLOUR COMMUNITYSPACE Index to the Financial Statements Forthe year Ended 30 November2023 Page Charity Information Trustee's Report Independent Examiner's Report Receipts and Payments Notes to the Financial Statements WATERCOLOUR COMMUNITYSPACE Forthe year Ended 30 November2023 Charity Information TRUSTEES: Deanne Gillian Weaver Stephen Hugh M¢Kenna Jonathan Christopher St Aubyn Essex Emanuele Mazzotta Aakash Raj Vipul Agarwal Peter lameswolsey Charity Number: 1201099 Bankers: The Co-operative bank Business Direct PO Box 250 Skelmersdale WN86 Contact Information.. UnitA&B Corfe house Thornton side Redhill RH1 2GS WATERCOLOUR COMMUNITYSPACE Trustee's Report The Trustees present their annual report with the accounts of the charity for the year ended 30, November 2023 The Objects of the Charity The object of the CIO is.. to further or benefit the residents of watercolour estate and the neighbourhood, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating togetherthe said residents and the local authorities. voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for sports capable of improving physical health and fitness, recreation and leisuretime occupation with the objective of improvingthe conditions of life for the residents. In furtherance of these objects but not otherwise, the trustees shall have power.. to establish or secure the establishment of a community centre for activities promoted by the charity in furtherance of the above objects. GOVERNANCEAND MANAGEMENTSTRUCTURE The Governing DocumentforWater¢olour Community Space IWCSI is CONSTITUTION ADOPTED 22" November 2022 Trustees are appointed by the members. on a rolling programme, to serve for at least one year but may be re-elected or re-appointed. ACHIEVEMENTS AND PERFORMANCE IN THE YEAR WCS appointed a contractor to fit out the premises in anticipation of opening in 2024. It was registered as charity, opened banking facilities, appointed a solicitor and accountant to assist with the setup and ongoing administration. WCS successfully applied for grant funding to assist with the actions to get it fully operational. PLANS FOR FUTURE PERIODS During2024 the fit out of WCS was completed and was opened for use in Nay2024. There w8S a ceremonial open day in June 2024 forWater¢olour residents and community at large. WCS is now establishing a regular occupancy and will be reflecting on how to optimise the usage across the remaining period of 2024 and beyond. FINANCIAL REVIEW WE.. will Re.t l)8ide AppiopriAte funds in order to meet any unforeseen expen(Jlture th81 m8y ¢JC.f'lJl, fi)i o.xi)ii)ple oquipiiieiit repairslreplncement. Approved by the Trustees on 16th Seplember 2024 Signed on its behalf.. JoTrJ414fi Thl &s6K rfAtZorTr CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report RÈport to th@ trustÈÈsl members of Watercolour Community Space On accounts for the year nded 30 November 2023 Charity no {if gnyl 1201099 Set out on pages I report lo the trustees on my examination of the accounts of the abov8 charity {"the Trust ) for the year ended 30 November 2023. Responsibilities and As the chariiy Irustees of the Trust, you are responsible for ihe preparatlon basis of roport of the accounts in accordancè with the requirements of the Charities Act 2011 ("the Acl"}. I report In respect OT my examlnatlon of the Trust's accounls carried oul under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charf(y Commission under section 145151{b) of the Act. I have complctcd my cxamination. I confirm that no matcriol matter" hove come lo my attention in connection wilh the examination which gives me cause to believe that in, any material respect.. Independent examiner's statement accounting reGords were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records I have no Goncerns and have Gome aGf055 no other matters in conneclion with the examination to which attenlion should be drawn in order to enable a proper understanding of the accounts to be reached. Signed: Date: r &Jer ZOL NamÈ: mp.s mnrp.nn Relevant professional qualification{s} or body {if any}: FCCA Address: 39 Leigh Road Cobham Surrey KT112LF IER October 2018 CHARITY COMMISSION FOR ENGLAND AND WALES Watorcolour Community Spilce 1201099 Receipts aiiid payments accounts For th$ perlod from To CC16a 2211112022 3011112023 Section A Receipts and payments Unrestricted lund$ R(J$tTl¢ted Endowment funds Totsl funds Lastyear tothg fflo8ré4t to(Iio r,>arest £ to th8 M8re8te to thene4re&t£ th• noer•$t A1 Recelpt• Grants- CIL Granls- Visl Homes Ltd Granis- other 40,975 83,561 1.000 Sub total(Gmss income for ARJ 125,5J6 12$,036 A2 A880t and Involtmenl sales. 18ee table). Sub total Total receipts ￿. f.- 125.536 125.536 A3Pa ents L*gal and prolessional fees lease Fll out costs re community cenire 1,581 6,419 1,581 6,419 Sub total 8,000 8.000 A4 A88et and Investment pui¢ha$es, Is88 tabl•l Sub total Totalpayments 8,000 8,000 Net of receipts/(paymentsJ AS Transfers be￿een funds A6 Cash funds last year end Cash funds thls year and 1t7,536 117,836 117,536 117,536 Page 2 Section B Statement of assets and liabiliti I the end of the period Unrestrlcted fund8 to n*artrst£ Re$trlcted fund8 Endowment lund8 to n•amt£ C(Itegorie5 Details to nearostÉ B1 Ga¥li fuiKI$ Bonk balonoeo 117,536 Total cash fui?(ts 117,536 Iccounllsii Unrestrlctsd fund8 Restrlcted funds to nearest£ Endowment funds to nearest£ Details to neare8lÉ Fund to as8￿ belon 08t lopuonall Cuvrentvalu omal Detalls B3 Inva$tm•nt assots Fund to whl¢h ailet bolon Detsll$ Cost loptlonall Cuttehtv&lue onal B4 Assots retained for th• charlty$ own us8 Fund towhlch r•lat•8 Amount du• Wh•n due Deta118 BS Llabllltles SwDed by or two trustees on b8h8lf of aN Ihe iruslees Date of roval Signature Print Name Ernanuele M8zzoIt Jonathan Essex /4. f. Z* Page 3 WATERCOLOUR COMMUNITYSPACE Notesforming part ofthe Financial statements fortheyearended 30, November 2023 ACCOUNTING POLICIES Basis ofAccounting The Financial Statements have been prepared in accordance with the guidelines of the Charity Commission on a receipts and payments basis. FUNDS Fund AG¢ounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are r8ised for p8rticu18f restricted purposes. Unrestricted Funds The Trustees have resolved that the financial reserves of the Charity should be reviewed on a regular basis and that adequate provision is made for unforeseen expenses whilst also being minded th8t reserves should not be held without V81id reason.