## **GERRARDS CROSS COMMUNITY ASSOCIATION** # **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** **Charity Registration No. 1208327** ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **Trustees** Mrs. M. Bell Mrs. C. Bishop Mrs. V. Hearn Dr. G. Hearn Mr. C. Rowe Mr. J. Kudhail **Charity number** 1208327 **Company number** CE036223 **Principal address** The Memorial Centre 8 East Common Gerrards Cross Buckinghamshire SL9 7AD **Independent examiner** J M Russell FCA Just Audit & Assurance Ltd 8 East Common Gerrards Cross Buckinghamshire SL9 7AD **Bankers** HSBC Bank Plc I Corn Market High Wycombe Buckinghamshire HP11 2AY ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **EXECUTIVE COMMITTEE** **President** Dr. G. Hearn **Vice President** Dr. A. Hall **Treasurer** Mr C. Rowe **Elected Members** Mrs. M. Bell (Chairman) Mrs C. Bishop (Vice-Chairman) Mrs C. Edgerton Mrs V. Hearn Ms S. Klaus Mr J. Kudhail Mrs C. Stuart-Lee Ms S. Williams **Co-opted Members** None ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **CONTENTS** ||**Page**| |---|---| |Trustees'report|1 - 4| |Independent examiner's report|5| |Statement of financialactivities|6| |Balance sheet|7| |Notes to the accounts|8 - 21| ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ The trustees present their report and financial statements as a charitable incorporated organization (CIO) for the year ended 31 March 2025. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Association's Deed of Trust and Revised Constitution, the Charities Act 2011 and “Accounting and Reporting by Charities: Statem ent 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)” (as amended for accounting periods commencing from 1 January 2016). ## **Objectives and activities** ## Aims and Objectives of the Charity To encourage and promote the wellbeing of residents of Gerrards Cross by providing a focal point for community activity in Gerrards Cross. A major focus is on health, education, and community events. The Memorial Centre provides a meeting place and facilities for physical and mental training, recreation, and social interaction. The Charity aims to foster a community spirit for the achievement of these and other such purposes as may by law be deemed to be charitable. To maintain and manage as a World War 2 memorial and a community centre for the activities promoted by the Association and its constituent members in furtherance of the above objectives. ## Activities to achieve objectives. To achieve the Association’s objectives, the Memorial Centre buildings need to be maintained in good repair to enable large numbers of people to meet to pursue educational, health, social, and other activities as well as being suitable for third party lettings to generate income. Finance to maintain this infrastructure is raised through membership subscriptions, grants, donations, rental of the Memorial Centre and Youth Centre rooms to clubs and third parties, rental of the World War 1 Building as a gym and fitness centre, and a variety of fund-raising events. To facilitate these activities a small number of paid staff are employed. The Association is further supported by an extensive network of volunteers. Statement on compliance with Charity Commission Guidance The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Association should undertake and what policies and procedures should be implemented. The Association's policy is to consult and discuss with employees, through staff meetings, matters likely to affect employees' interests. Information of matters of concern to employees is given through reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance. Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the Association continues and that the appropriate training is arranged. It is the policy of the Association that the training, career development and promotion of disabled persons should take place, as far as possible, be identical to that of other employees. - 1 - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **TRUSTEES' REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **Achievements and performance in 2024-25** 2024 – 2025 was a year of change. At end of March 2024, only a small loss was reported, thanks to the generous support of many in supporting major refurbishment to the roof and main buildings. During the first 6 months of this accounting year, further monies were expended on refurbishment. In November 2024, 6 new Executive Committee Members were elected along with a new President, VicePresident and Treasurer. GXCA members were particularly upset by the introduction of a franchised café/bar, in 2021 and the proposition of developing Padel on the tennis courts. The newly elected Executive Committee responded to these concerns by alerting the Planning Committee at Bucks of the withdrawal of landlord consent for development of the tennis courts for Padel and by initiating discussions for the end of the latest café franchise with Delice Foods. Unfortunately, the kitchen area of the café, altered by the previous two franchisees was left in a poor state with no cooker and very poor facilities. A new kitchen was purchased for ~£25k by GXCA, through our trading subsidiary, Gerrards Cross Community Services Ltd (GXCS). £5k was the VAT charged on this outlay and we elected to register GXCS for VAT in order to recover this from HMRC. The new GXCA operated café/bar commenced operations in mid-January 2025. As expected, it took time for the cooker to be installed, new café staff to settle and business to build. Therefore an expected loss of £7,215 is reported for the first three months, in the GXCS accounts. However, GXCA members and other visitors are much happier to have a café and bar that is responding to demand, with the knowledge that what they spend here is ultimately directly supporting GXCA CIO. Another challenging issue for the newly elected Executive Committee were the increasing rent arrears of Inspire to Train, a company who held a lease to operate a gym in the World War I building. By 31 December 2024, Inspire to Train were ~£8k behind with their rent and service charge. Despite several discussions and agreement of a payment plan with them in early January 2025, rent had still not been received by early March 2025 and we were obliged to ask the bailiffs to attend. Inspire to Train has now gone into voluntary liquidation and although the monies have now (August 25) been recovered, this was not the case at end of March 2025. Appraising the options for the building following the departure of the gym, the Executive voted to split the space into four separate ‘studios’. We have been fortunate to identify three excellent tenants representing a variety of activities, personal training (The Move Room GX), Reformer pilates (Sculpt) and relocation of KK Deol, the tailoring business currently occupying Room 5. Going forward the rent for the three spaces will be £6-8K more annually and the fourth space is to be designated as a GXCA snooker club, conservatively predicted to make an additional £10K in its’ first year. On a more positive front, we have been overwhelmed by the support of our members and local visitors to the various events run this year. The Executive were keen to run at least one Community Event every month: Well Oiled and Fireworks in November, Pantomime and Ms Klaus workshop in Dec 2024, Burns Night in Jan, Attic Sale in February and Bingo and Bubbles in March 2025. We are also hosting a significantly higher number of children’s birthday parties, Mendhis and other private events and an ever increasing number of classes / clubs and societies. The Executive Committee would like to extend heartfelt thanks to Julie Gilmour and her team for all their effort in keeping the place running and supporting all the various activities and events. We also continue to be very grateful for all the work undertaken by our volunteers without which, our association could not survive. We report our cash balances at £40,831 on 31 March 2025 compared to £116,544 at 31 March 2024 and a loss of £50,397 in the year 2024-2025. ## **Operating Subsidiary** The association operates a subsidiary company called Gerrards Cross Community Services Ltd (GXCS). This was relatively dormant during 2023-2024 as the café / bar facilities were franchised out to lessees. From 1 January 2025, the new Executive Committee brought back the café/bar facilities. During the year ended 31 March 2025, after three months trading, GXCS has made a loss of £7,215 compared to a profit of £2,703 in the previous year. - 2 - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **TRUSTEES' REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **Financial Reserves** At present, the trustees consider that GXCA should work towards building its general financial reserves, being short term net liquid assets, to a level of £50,000. This figure is defined as cash and near cash with short term receivables less any current liabilities and future committed expenses. Where possible, large annual payments such as insurance are now spread over the year, but ~3 months of salaries together with £20K towards any unexpected maintenance, are in the views of the trustees a sufficient financial cushion. These monies should also be more than sufficient to cover legal fees in the unlikely event that the Association were to close. The trustees believe that a higher level of financial reserve risks being viewed as withholding monies from fulfilling our charitable purpose. On 31 March 2025, the general reserve figure was £28,031. But, given the changes wrought since November 2024, income from rentals has increased by £12K, expenditure on utilities will reduce by £11k, starting Sept 2025, and other significant savings have been made in photocopier, fire alarm and security services. Thus, we are confident that we can now build the reserves we need for financial stability. This position on reserves will be reviewed annually. On 31 March 2025 the General reserve figure was £28,031 and the prior year was £76,836. ## **Risk management** The trustees review on a regular basis the major risks faced by the Association, including operational, reputational, legal, regularity, and financial risks. The trustees believe that short term liquid assets should never fall below £50,000, although this was lower at 31 March 2025. As mentioned above, given our forecast reductions in expenses and increased rental / event revenue we plan to build these up during the remainder of this financial year. ## **Structure, governance and management** Governing Document and Constitution The Association was originally an unincorporated body governed by a deed of trust and constitution originally dated 10 October 1946. This was amended and a revised constitution was adopted on 15 June 2011. Day to day running of the Association is delegated to an Executive Committee (including the working trustees) who, together with up to two nominated past presidents, the officers (President, Vice President and Treasurer). Details of the Executive Committee (the working trustees) are shown at the beginning of these accounts. On 20th May 2024 the Charities Commission approved the establishment of a new Charitable Incorporated Organisation (CIO). On 31st October 2024 there was a deed of transfer for the assets and liabilities of Gerrards Cross Community Association (registered charity number 300264) to transfer to Gerrards Cross Community Association, a Charitable Incorporated Organisation (registered charity number 1208327). ## **Recruitment and Appointment of Trustees** Members of the Executive Committee (including the working trustees) are appointed annually, and their appointment is confirmed at the Annual General Meeting. Six of these persons are appointed as trustees for GXCA and registered as such with the Charities Commission. One of our tustees, Mr Christopher Rowe is paid a salary of £10,000 per annum for working as our treasurer The new CIO has subsumed the requirement for a separate Trust for the World War 1 memorial, and as such the holding trustees have retired and released their duties to GXCA. All new trustees undergo an induction process whereby they are instructed in their duties and obligations. - 3 - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **TRUSTEES' REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **Organisational Structure** GXCA trustees stand possessed of all the monies and hold any property conveyed to them as Trustees of the Association. The Executive Committee (the working trustees) appoints those named as trustees with the Charities Commission. ## Operating Companies The Association has one wholly owned operating subsidiary, Gerrards Cross Community Services Limited (“GXCS”), which operates the bar and café facilities . ## **Funds held as custodian trustee** No assets are held by the Association on behalf of other organisations. The trustees' report was approved by the Board of Trustees. Mrs. M.R. Bell Trustee Gerrards Cross Community Association Dated: ## 11 February 2026 - 4 - GERRARDS CROSS COMMUNITY ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GERRARDS CROSS COMMUNITY ASSOCIATION I report to the charity trusteès ¢n ry &xamination of the accounts of the Cgmpany for the year ended 3 1 March 2025. R•%ponslbllltles and basls of report As the charity'5 truste¢5 of the Company {who are also the dlrector5 of the company for the purposes ttf company law), you are responsible for the preparation of the accounts in accordance with the rÈquirements of the Companles Aet 2006 ('khe 2006 Act">. Having satisfied myself that the accounts of the Company are not re9uired to be 3vdr¢ed for thls year under Par¢ 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's a¢¢ounts as carrled out under sectlon 145 of che Charlcles Act 2011 {"the 201 l Act"). In carrying out my examination. I have followed the Dlrectlons glven by the Charity Commlsslon {under $ec¢lon 145(5)(b) of the 2011 ACL Independent ex*miD¢r'¥ rtatement I have completed my examlnation. I confirm that no material vnatter5 have come to my attentlon whl¢h glv¢5 me ¢au5e to belleve thaL' accountSn8 rècords were not kept in accordance with sectlon 386 tsl the Compani¢$ k¢ 2006.. or 2 the flnanclal statements do ntst accord with those records: ¢*r 3 the accounts do not eomply with relevant accountinz requirernents under section 396 of the Cornpanles Act 2006 other than any requlrernent that the accounts give a 'true and fr4lr' VIÈW which is not a matter considered as part of an independent examina￿on. or 4 the accounts have not been prepar•d in accordance with the Charities SORP (FRS102). I have no concerns and have ¢ome across no other matters in connertion with the examinadon ta whl¢h atten￿On Should be drawn In th1$ report in order to enable a prop•r understanding of the accounts to be reached. M Russell FCA Just Audit & Assurance Led 8 East Common Gerrards Cross BuckinKhamshlre SL9 7AD ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |||**Unrestricted **|**Restricted**|**Total**|**Total**| |---|---|---|---|---|---| |||**funds**|**funds**|**2025**|**2024**| ||**Notes**|**£**|**£**|**£**|**£**| |**Income and endowments from:**|||||| |Donations and grants|**3**|64,665|-|64,665|138,669| |Charitableactivities|**4**|307,205|-|307,205|280,168| |Other trading activities|**5**|123,956|-|123,956|76,063| |Investments|**6**|2,285|-|2,285|2,580| |Otherincome|**8**|2,000|-|2,000|2,000| |**Total income**||500,111|-|500,111|499,480| |**Expenditure on:**|||||| |Raising funds|**7**|159,061|-|159,061|125,890| |Charitableactivities|**9**|391,447|-|391,447|377,487| |**Total resources expended**||550,508|-|550,508|503,377| |**Net (expenditure)/income for the year/**|||||| |**Net movement in funds**||**(50,397)**|**-**|**(50,397) **|**(3,897)**| |Fund balances at 1 April 2024||451,634|-|451,634|455,531| |**Fund balances at 31 March 2025**||401,237|-|401,237|451,634| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 6 - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2025**_ ||||**2025**||**2024**|| |---|---|---|---|---|---|---| ||**Notes**||**£**|**£**|**£**|**£**| |**Fixed assets**||||||| |Tangible assets|**13**||373,204|||374,796| |Investments|**14**|||2||2| ||||373,206|||374,798| |**Currentassets**||||||| |Debtors (due within one year)|**15**|42,983|||22,307|| |Debtors (due after more than one year)|**15**|29,824|||-|| |Cash at bank and in hand||40,831|||116,544|| |||113,638|||138,851|| |**Creditors: amounts falling due**|**16**|||||| |**within one year**||(85,607)|||(62,015)|| |Net current assets||||28,031||76,836| |**Total assets less current liabilities**|||401,237|||451,634| |**Income funds**||||||| |Unrestrictedfunds||||||| |Designatedfunds|**17**||-||-|| |General unrestricted funds||401,237|||451,634|| ||||401,237|||451,634| ||||401,237|||451,634| |The accounts were approved by the Trustees on||………….||||| ## **Mrs. M.R. Bell** ## **Trustee** **Gerrards Cross Community Association** - 7 - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **Charity information** Gerrards Cross Community Association is an unincorporated body governed by a deed of trust and constitution originally dated 10 October 1946. This was amended and a revised constitution was adopted on 15 June 2011. On 20th May 2024 the Charities Commission approved the establishment of a new Charitable Incorporated Organisation (CIO). What follows is commensurate with the revised constitution. The principal address of the charity is, The Memorial Centre, 8 East Common, Gerrards Cross, Buckinghamshire, SL9 7AD. ## **1.1 Accounting convention** The accounts have been prepared under the historical cost convention with the exception of the revaluation of fixed asset investments. The financial statements are prepared in sterling, which is the functional currency of the Association. 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. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the Association 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. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. ## Restricted funds Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts. ## **1.4 Income** Income is recognised in the period in which the Association is entitled to receipt and the amount can be measured reliably. Income is deferred only when the Association has to fulfil conditions before becoming entitled to it, or where the donor has specified that the income is to be expended in a future period. ## Donations Donations are accounted for on a cash basis. Gift aid on donations are accounted for when the donation has been reported on a claim form submitted to H.M. Revenue and Customs. Legacies Legacies are included when the Association is advised by the personal representatives of an estate payment will be made or property transferred and the amount involved can be quantified. - 8 - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** Grants receivable Grants are accounted for either on a cash basis or an accrual basis when the receipt of a grant in a subsequent year is deemed to be undoubted. Subscriptions Annual membership subscriptions are accounted for on a cash received basis. ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings; Expenditure on raising funds Expenditure on raising funds comprise the cost of activities organised by the Association for generating funds and include the cost of commercial activities such as jumble sales and advertising and their associated support costs. Expenditure on charitable activities Expenditure on charitable activities represents costs incurred in meeting the Association's charitable objectives, namely the provision of a community centre and maintenance of a war memorial and their associated support costs. Other expenditure Other expenditure represents those items not falling into any other heading. Allocation of support costs Support costs are costs in respect of central administration and the costs of compliance with constitutional and statutory requirements. Support costs include staff costs, general administration and governance costs which support the activities of the Association in furtherance of its charitable objectives. These costs have been allocated to the relevant activity cost category they support. The basis on which support costs have been allocated are set out in note 10. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Colston Hall Nil Other freehold properties Nil Office equipment 20% straight line basis Fixtures and fittings 10% straight line basis The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year. - 9 - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the Association. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. ## **1.8 Impairment of fixed assets** At each reporting end date, the Association reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.9 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other shortterm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.10 Financial instruments** The Association has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Association's balance sheet when the Association becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**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. - 10 - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the Association’s contractual obligations expire or are discharged or cancelled. ## **1.11 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 Association is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.12 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **1.13 Cash Flow Statement** The accounts do not include a cash flow statement because the Association and its group, as small reporting entities are exempt from the requirement to prepare such statements under Financial Reporting Standard 1, 'Cash flow Statements'. ## **1.14 Taxation** The Association is not liable to income or capital gains tax on its charitable activities. Irrecoverable VAT is apportioned against relevant expenditure categories. ## **1.15 Group financial statements** Consolidated accounts are not presented because the Association has taken advantage of the provisions of paragraph 24.12 of the SORP. The results of the trading subsidiary, Gerrards Cross Community Services Limited, are included in a note to these accounts. ## **2 Critical accounting estimates and judgements** In the application of the Association’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 the revision affects both current and future periods. - 11 - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ - **3 Income from donations and grants** ||**Unrestricted**|**Restricted**|**Total **|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---| ||**funds**|**funds**||funds|funds|| ||**2025**|**2025**|**2025**|2024|2024|2024| ||**£**|**£**|**£**|£|£|£| |Donations and gifts|25,369|-|25,369|102,199|-|102,199| |Grants|25,000|-|25,000|25,000|-|25,000| |Membershipfees|14,296|-|14,296|11,470|-|11,470| ||64,665|-|64,665|138,669|-|138,669| |**Donations and gifts**||||||| |Summer school|-|-|-|11,018|-|11,018| |Giftaid|1,525|-|1,525|11,446|-|11,446| |Other|23,844|-|23,844|79,735|-|79,735| ||25,369|-|25,369|102,199|-|102,199| |**Grants**||||||| |Gerrard Cross Town||||||| |Council|25,000|-|25,000|25,000|-|25,000| |Other|-|-|-|-|-|-| ||25,000|-|25,000|25,000|-|25,000| In 2023, the Summer School operated independently of GXCA and kindly donated their proceeds to GXCA. Therefore, these appear as an entry in note 3, Donations and Gifts (page 12). In 2024, the Summer School Committee were unable to find any additional volunteers and asked GXCA to take over the running of the Summer School as part of the standard GXCA Event programme. Therefore the income £42,020 from the 2024 Summer School appears under note 5, Income from Other Trading Activities and Summer School Expenditure £29,264 is listed in these accounts for the first time in note 7 Expenditure on raising funds. - 12 - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |**4**
**Income from charitable activities**
**Management**
**fees**
**Rental**
**Income from**
**charitable**
**Other**
**charitable**
**income**
**£**
**£**
**£**
Managementfees
-
-
-
Rental and ancillary income
-
307,182
-
Photocopying and vending
-
-
23
-
307,182
23
**Managementfees;**
GXCSLtd
**5**
**Income from other trading activities**
Jumblesale
Fireworkdisplay
Booksales
Summer School
Annualevents
One-off events
Income from other trading activities|**Total**
**2025**
**£**
-
307,182
23
307,205
**2025**
**£**
-
-
**2025**
**£**
38,380
18,114
-
42,020
23,822
1,620
123,956|**Total**
**2024**
**£**
-
280,026
142
280,168
**2024**
**£**
-
-
**2024**
**£**
36,063
16,183
53
-
19,532
4,232
76,063| |---|---|---| |||| |||| |||| - 13 - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **6 Income from investments** |**7**
**8**|**Unrestricted**Unrestricted
**funds**
funds
**2025**
2024
**£**
£
Interestreceivable
2,285
2,580
**Expenditure on raising funds**
**2025**
**2024**
**£**
**£**
Fundraising and publicity
Staff costs
6,807
6,719
Fundraising and publicity
6,807
6,719
Other trading costs
Jumblesale
5,348
5,775
Fireworkdisplay
6,504
5,359
Summer School
29,264
-
Otherevents
15,154
16,913
Advertising and publicity
4,090
422
Staff costs
91,894
90,702
Other trading costs
152,254
119,171
159,061
125,890
**Otherincome**
**2025**
**2024**
**£**
**£**
Otherincome–Insurance claim proceeds
2,000
2,000| |---|---| - 14 - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **9 Expenditure on charitable activities** |**Staff costs**
**Property**
**Other**
**maintenance premises**
**£**
**£**
**£**
Staff costs
68,349
-
-
Propertymaintenance
-
147,979
-
Lighting and heating
-
-
47,254
Waterrates
-
-
2,246
Insurance
-
-
14,336
68,349
147,979
63,836
Share of support costs (see note 10)
-
-
-
Share of governance costs (see note 10)
3,741
-
-
72,090
147,979
63,836

**Analysis by fund**
Unrestrictedfunds
72,090
147,979
63,836

Restrictedfunds
-
-
-
72,090
147,979
63,836

**For the year ended 31 March 2024**
Unrestrictedfunds
70,546
174,590
57,242
Restrictedfunds
-
-
-
70,546
174,590
57,242|**General**
**admin**
**£**
-
-
-
-
-
-
55,352
52,190
107,542

107,542

-
107,542

75,109
-
75,109|**Total**
**Total**
**2025**
**2024**
**£**
**£**
68,349
67,187
147,979 174,590
47,254
41,185
2,246
4,014
14,336
12,043
280,164 299,019
55,352
46,187
55,931
32,281
391,447 377,487
391,447
-
391,447
377,487
-
377,487| |---|---|---| - 1 5 - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |**10 **|**Support costs**|||||| |---|---|---|---|---|---|---| |||**Support**|**Governance**|**2025**|**2024**|**Basis of**| |||**costs**|**costs**|||**allocation**| |||**£**|**£**|**£**|**£**|| ||Staff costs|-|3,741|3,741|3,359|Allocated on time| ||Depreciation|2,350|-|2,350|1,810|Support| ||Postage and telephone|62|-|62|-|Support| ||Printing and stationery|897|-|897|876|Support| ||I.T.expenditure|7,671|-|7,671|6,022|Support| ||Photocopying and vending|5,315|-|5,315|5,852|Support| ||Bank charges|3,631|-|3,631|1,060|Support| ||Other repairs and|692|-|692|264|Support| ||Sundry and provisions|10,224|-|10,224|7,672|Support| ||Unrecoverable VAT|26,560|-|26,560|24,781|Support| ||Bad Debt|(2,050)|-|(2,050)|(2,150)|Support| ||Legal and professional|-|52,190|52,190|28,922|Governance| |||55,352|55,931|111,283|78,468|| ||2024 Analysed between|||||| ||Charitable activities|46,187|32,281|78,468||| Governance costs includes an amount of £1,750 (2024: £1,200) for an Independent Examination fee. ## **11 Trustees** As well as donating their time and expertise during 2025 the trustees made unconditional donations of £Nil (2024: £20,000) to the Charity. No Trustee expenses have been incurred. Related party transactions are as included in Note 19. - 1 � - **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **12 Employees** ## **Number of employees** The average monthly number of employees during the year was: |**2025**
**Number**
Direct charitable activities
5
Management and administration
1
6
**Employment costs**
**2025**
**£**
Wages and salaries
158,694
Social security costs
8,272
Other pension costs
3,209
170,175|**2024**
**Number**
4
2
6
**2024**
**£**
155,258
9,426
3,283
167,967| |---|---| There were no employees whose annual remuneration was £60,000 or more. ## **13 Tangible fixed assets** |**Colston Hall**
**£**
**Cost**
At 1 April 2024
330,423
Additions in year
-
At 31 March 2025
330,423
**Depreciation and impairment**
At 1 April 2024
-
Depreciation charged in the year
-
At 31 March 2025
-
**Carrying amount**
At 31 March 2025
330,423
At 31 March 2024
330,423|**Other**
**freehold**
**Office**
**equipment**
**Fixtures and**
**fittings**
**Total**
**£**
**£**
**£**
**£**
91,055
8,211
23,510
453,199
-
273
485
758
91,055
8,484
23,995
453,957
59,781
6,540
12,082
78,403
-
442
1,908
2,350
59,781
6,982
13,990
80,753
31,274
1,502
10,005
373,204
31,274
1,671
11,428
374,796| |---|---| All assets are used for charitable purposes. - 1 � - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |**14**|**Fixed asset investments**|||| |---|---|---|---|---| |||||**Other**| |||||**investments**| ||**Cost or valuation**|||| ||At 1 April 2024 & 31 March 2025|||2| ||**Carrying amount**|||| ||At 31 March 2025|||2| ||At 31 March 2024||**2025**|2
**2024**| ||Other investments comprise:|**Notes**|**£**|**£**| ||Investments in subsidiaries|**20**|2|2| - 1 � - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **15 Debtors** |**2025**
**Amounts falling due within one year**
**£**
Trade debtors
38,108
Amounts owed by subsidiary undertakings
-
Other
150
Prepayments and accrued income
4,725
42,983|**2024**
**£**
15,286
1,325
23
5,673
22,307| |---|---| The Trade debtors figure is significantly higher than 2024 due to a change billing practice for room/event hire. Since Jan 2025, hirers have been charged a part fee at the time of booking their event rather than the previous practice where charges were not made until 2 weeks before the event. This has been instituted to avoid double booking and last-minute cancellations but means that more advance debt will be documented in the system. |**2025**
**Amounts falling due greater than one year**
**£**
Amounts owed by subsidiary undertakings
29,824
TOTAL
72,807|**2024**
**£**| |---|---| ||-| ||| ||22,307| ## Gerrards Cross Community Services Limited The decision taken in November 2024, to revert to running our own café/bar necessitated installing new kitchen units and a cooker as well as standard kitchen equipment – franchisees had taken their own kitchen equipment away with them apparently. As there was no money in GXCS Ltd it was agreed by the Executive Committee that monies to effect this could be loaned to GXCS Ltd by GXCA (the parent organisation of the GXCS Ltd trading subsidiary). Thus, an amount of £29,824 (2024: £1,325) is owed by GXCS Ltd to GXCA and this will be repaid from future profits, with no interest being charged. It is not necessary to repay this in a single year as the kitchen itself is expected to continue to be used over the foreseeable future. - 1 � - ## **GERRARDS CROSS COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **16 Creditors: amounts falling due within one year** |**Creditors: amounts falling due within one year**||| |---|---|---| ||**2025**|**2024**| ||**£**|**£**| |Trade creditors|12,508|18,342| |Other taxation and social security|5,786|(1,257)| |Other creditors|10,605|10,165| |Accruals and deferred income|56,708|34,765
-| ||85,607|62,015| ## **17 Designated funds** The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: |||**Balance at**|**Transfers**|**Balance at**|**Transfers**|**Balance at**| |---|---|---|---|---|---|---| ||**1**|**April 2023**||**1 April 2024**|**31**|**March 2025**| |||**£**|**£**|**£**|**£**|**£**| |Youth relate activities||37,830|(37,830)|
-|-|-| |||37,830|(37,830)|-|-|-| ## **18 Financial commitments, guarantees and contingent liabilities** As at the reporting end date the charity had no outstanding commitments for future minimum payments under non-cancellable subscription agreements. - �� - **GERRARDS CROSS COMMUNITY ASSOCIATION** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **19 Related party transactions** ## **Remuneration of key management personnel** The remuneration of key management personnel is as follows. ||**2025**|**2024**| |---|---|---| ||**£**|**£**| |Aggregate compensation|47,880|52,083| Included in the above amount is remuneration paid to Mr. C. Rowe who is the Treasurer and a Trustee of the Charity of £3,333 (2024: £Nil). ## **20 Subsidiaries** Details of the Association's subsidiaries at 31 March 2025 are as follows: |**Name of undertaking**|**Registered**|**Nature of business**|**Class of**|**% Held**| |---|---|---|---|---| ||**office**||**shares**|| |Gerrards Cross|England|Provision of bar and cafe|Ordinary|100| |Community Services||services||| |Ltd||||| The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows: |**Name of undertaking**|**Profit/(Loss)**|**Capital and**| |---|---|---| |||**Reserves**| ||**£**|**£**| |Gerrards Cross||| |CommunityServices Ltd|(7,215)|(8,718)| These financial statements are separate from the Association financial statements for the year ended 31 March 2025. - �� -