REGISTERED CHARITY NUMBER: 213196
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
for
The Thomas Wall Centre
Ark Accountancy Limited Chartered Certified Accountant 31 Cheam Road Epsom Surrey KT17 1QX
The Thomas Wall Centre
Contents of the Financial Statements for the Year Ended 31 December 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
The Thomas Wall Centre
for the Year Ended 31 December 2023
Report of the Trustees
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The provision and maintenance of a community centre for the use of the inhabitants of the London Borough of Sutton without distinction of political, religious or other opinions, including the use for meetings, lectures and classes, and of other forms of recreation and leisure time occupation, with the object of improving the conditions of life for the said inhabitants.
Significant activities
The Thomas Wall Centre continues to serve the local community and significant activities to repair the centre are ongoing. The caretaker's flat is being restored and updated so this can be rented to a permanent tenant which will in turn help us fund the vast job of changing every fire door in the centre.
Public benefit
The public continues to benefit using the centre serving the elderly, pre-school, church, keep fit and the muslim community who are regular users of the centre.
Volunteers
We are still searching and trying to recruit volunteers but so far this has been unsuccessful. We will continue to look for more trustees and helpers.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Thomas wall centres main purpose is to provide affordable spaces for members of the public small businesses and other charities to operate. We provide spaces for food banks, religious events, blood donations, sports and academic studies to name a a few. All funds raised are used to maintain the premises and staff cost. We also facilitate community payback schemes utilising volunteers for maintenance.
We maintain the main focus of the centre which is to provide spaces for groups across the diverse community that resides within Sutton in future to be able to offer more activities that will benefit our community at low or no cost.
Fundraising activities
Currently there are no fundraising activities or any planned and our principal funding sources are our regular room renters who continue to use us all year round including the memberships from snooker, bowls and badminton.
FINANCIAL REVIEW
Reserves policy
Our reserves policy is to hold 3 month's rental in the account as we always have done.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
We will continue to serve the community moving forward and recruit more trustees in the future.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
213196
Page 1
The Thomas Wall Centre
Report of the Trustees
for the Year Ended 31 December 2023
Principal address
52 Benhill Avenue Sutton Surrey SM1 4DP
Trustees
Ms A Dalley J Mill L Houston D Edwards (resigned 16.5.23)
Independent Examiner
Mary E Ryan FCCA, Cert PFS, DChA Ark Accountancy Limited Chartered Certified Accountant 31 Cheam Road Epsom Surrey KT17 1QX
Approved by order of the board of trustees on 16 October 2024 and signed on its behalf by:
J Mill - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Thomas Wall Centre
Independent examiner's report to the trustees of The Thomas Wall Centre
I report to the charity trustees on my examination of the accounts of The Thomas Wall Centre (the Trust) for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached.
Mary E Ryan FCCA, Cert PFS, DChA The Association of Chartered Certified Accountants
Ark Accountancy Limited Chartered Certified Accountant 31 Cheam Road Epsom Surrey KT17 1QX
16 October 2024
Page 3
The Thomas Wall Centre
Statement of Financial Activities for the Year Ended 31 December 2023
| 31.12.23 | 31.12.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 109,156 | 159,716 | |
| Investment income | 2 | 1,228 | 1,051 |
| Total | 110,384 | 160,767 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| General | 130,024 | 138,373 | |
| NET INCOME/(EXPENDITURE) | (19,640) | 22,394 | |
| Other recognised gains/(losses) | |||
| Gains/(losses) on revaluation of fixed assets | 2,552 | (3,564) | |
| Net movement in funds | (17,088) | 18,830 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 157,423 | 138,593 | |
| TOTAL FUNDS CARRIED FORWARD | 140,335 | 157,423 |
The notes form part of these financial statements
Page 4
The Thomas Wall Centre
Balance Sheet
31 December 2023
| 31.12.23 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 - Investments 7 32,962 32,962 CURRENT ASSETS Debtors 8 8,371 Cash at bank 105,914 114,285 CREDITORS Amounts falling due within one year 9 (6,912) NET CURRENT ASSETS 107,373 TOTAL ASSETS LESS CURRENT LIABILITIES 140,335 NET ASSETS 140,335 FUNDS 10 Unrestricted funds 140,335 TOTAL FUNDS 140,335 |
31.12.22 Total funds £ 1,466 30,410 31,876 8,059 124,228 132,287 (6,740) 125,547 157,423 157,423 157,423 157,423 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 16 October 2024 and were signed on its behalf by:
L Houston - Trustee
J Mill - Trustee
The notes form part of these financial statements
Page 5
The Thomas Wall Centre
Notes to the Financial Statements for the Year Ended 31 December 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
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 raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 6
continued...
The Thomas Wall Centre
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
2. INVESTMENT INCOME
| 31.12.23 | 31.12.22 | |
|---|---|---|
| £ | £ | |
| Other fixed asset invest - FII | 84 | 229 |
| Deposit account interest | 1,144 | 822 |
| 1,228 | 1,051 |
3. TRUSTEES' REMUNERATION AND BENEFITS
Remuneration of £10,660 (2022 £nil) was paid to one trustee. This is allowed under the governing document.
Trustees' expenses
Expenses of £269 (2022 £nil) were reimbursed to one trustee for general expenses of the charity.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.12.23 | 31.12.22 | |
|---|---|---|
| Administration | 4 | 4 |
The full time equivalent was 2 (2022: 2)
No employees received emoluments in excess of £60,000
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 159,716 |
| Investment income | 1,051 |
| Total | 160,767 |
| EXPENDITURE ON | |
| Charitable activities | |
| General | 138,373 |
| NET INCOME | 22,394 |
| Other recognised gains/(losses) | |
| Gains/(losses) on revaluation of fixed assets | (3,564) |
| Net movement in funds | 18,830 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 138,593 |
continued...
Page 7
The Thomas Wall Centre
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|
| Unrestricted | ||
| fund | ||
| £ | ||
| TOTAL FUNDS CARRIED FORWARD | 157,423 | |
| 6. | TANGIBLE FIXED ASSETS | |
| Fixtures | ||
| and | ||
| fittings | ||
| £ | ||
| COST | ||
| At 1 January 2023 and 31 December 2023 | 12,794 | |
| DEPRECIATION | ||
| At 1 January 2023 | 11,328 | |
| Charge for year | 1,466 | |
| At 31 December 2023 | 12,794 | |
| NET BOOK VALUE | ||
| At 31 December 2023 | - | |
| At 31 December 2022 | 1,466 | |
| 7. | FIXED ASSET INVESTMENTS | |
| Listed | ||
| investments | ||
| £ | ||
| MARKET VALUE | ||
| At 1 January 2023 | 30,410 | |
| Revaluations | 2,552 | |
| At 31 December 2023 | 32,962 | |
| NET BOOK VALUE | ||
| At 31 December 2023 | 32,962 | |
| At 31 December 2022 | 30,410 | |
| There were no investment assets outside the UK. | ||
| Cost or valuation at 31 December 2023 is represented by: | ||
| Listed | ||
| investments | ||
| £ | ||
| Valuation in 2021 | 33,974 | |
| Valuation in 2022 | (3,564) | |
| Valuation in 2023 | 2,552 | |
| 32,962 |
continued...
Page 8
The Thomas Wall Centre
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Prepayments 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Taxation and social security Other creditors 10. MOVEMENT IN FUNDS At 1.1.23 £ Unrestricted funds General fund 157,423 TOTAL FUNDS 157,423 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 110,384 (130,024) TOTAL FUNDS 110,384 (130,024) Comparatives for movement in funds At 1.1.22 £ Unrestricted funds General fund 138,593 TOTAL FUNDS 138,593 |
31.12.23 31.12.22 £ £ 495 8,059 7,876 - 8,371 8,059 31.12.23 31.12.22 £ £ - 3,006 2,061 3,734 4,851 - 6,912 6,740 Net movement At in funds 31.12.23 £ £ (17,088) 140,335 (17,088) 140,335 Gains and Movement losses in funds £ £ 2,552 (17,088) 2,552 (17,088) Net movement At in funds 31.12.22 £ £ 18,830 157,423 18,830 157,423 |
|---|---|
continued...
Page 9
The Thomas Wall Centre
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 160,767 160,767 |
Resources expended £ (138,373) (138,373) |
Gains and Movement losses in funds £ £ (3,564) 18,830 (3,564) 18,830 |
|---|---|---|---|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
Page 10
The Thomas Wall Centre
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| Detailed Statement of Financial Activities for the Year Ended 31 December 2023 |
||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 109,156 | 159,716 |
| Investment income | ||
| Other fixed asset invest - FII | 84 | 229 |
| Deposit account interest | 1,144 | 822 |
| 1,228 | 1,051 | |
| Total incoming resources | 110,384 | 160,767 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 25,477 | 48,520 |
| Social security | - | 2,509 |
| Pensions | 165 | - |
| Rates and water | 12,383 | 9,254 |
| Insurance | 9,643 | 9,020 |
| Light and heat | 33,647 | 23,421 |
| Telephone | 1,207 | 902 |
| Postage and stationery | - | 49 |
| Sundries | 1,493 | - |
| Repairs & maintenance | 31,151 | 37,531 |
| Cleaning | 20 | 2,583 |
| Professional fees | - | 1,794 |
| Recruitment | 864 | - |
| 116,050 | 135,583 | |
| Support costs | ||
| Management | ||
| Trustees' salaries | 10,851 | - |
| Trustees' pension contributions | 133 | - |
| 10,984 | - | |
| Finance | ||
| Fixtures and fittings | 1,466 | - |
| Governance costs | ||
| Accountancy fees | 1,524 | 2,790 |
| Total resources expended | 130,024 | 138,373 |
| Net (expenditure)/income | (19,640) | 22,394 |
This page does not form part of the statutory financial statements
Page 11