Charity registration number 216905
WARSTOCK COMMUNITY CENTRE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
WARSTOCK COMMUNITY CENTRE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Charity number
Principal address
Independent examiner
Mrs Vickie-Jo Ford Mrs Nicole Jane Bignell Mr Tim Dowe Mr Robert Webb
216905
1 Daisy Farm Road Warstock Birmingham West Midlands B14 4QA
M T Manley & Co Limited 696 Yardley Wood Road Billesley Birmingham West Midlands United Kingdom B13 0HY
(Appointed 12 October 2023) (Appointed 12 October 2023) (Appointed 19 August 2024) (Appointed 12 October 2023)
WARSTOCK COMMUNITY CENTRE
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 11 |
WARSTOCK COMMUNITY CENTRE
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
Objectives and activities
The objects are to promote the benefits of inhabitants of Warstock, Maypole, Yardley Wood, Highters Heath and surrounding areas without distinction of sex, political, religious or other opinions by associating the inhabitants in a common effort to advance education and to provide facilities in the interest of social welfare for recreation and leisure time occupation with the objective of improving the conditions of like for the said inhabitants. The policies adopted in furtherance of these objects are the provision of accommodation for the use of the community and there have been no change of these during the year.
The main activity was the provision of a community centre for the use by community groups.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The charity's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.
Information of matters of concern to employees is given through information bulletins and 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.
Achievements and performance
Our situation has now stabilised following the difficulties encountered during Covid. During the course of the year our part administrator retired, the trustees took the decision to appoint a full time centre manager to take the centre forward with the new CAT lease, with the objective of increasing and enhancing community use of the centre in accordance with the business plan and also in anticipation of changing our status to a CIO.
Financial review
The charity has performed well and has recovered from the effects of Covid 19 restrictions and the current economic situation. The charity is happy that it has managed to obtain sufficient funds to carry on its activities.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity was established by a charitable trust deed on 7 June 1963.
The trustees who served during the year and up to the date of signature of the financial statements were:
| Mr Kenneth Axford | (Resigned 31 May 2024) |
|---|---|
| Mrs Kath Davies | (Resigned 12 October 2023) |
| Mr John Barnes MBE | (Resigned 19 August 2024) |
| Mrs Susan Axford | (Resigned 19 August 2024) |
| Mr Peter Haylor | (Resigned 19 August 2024) |
| Mrs Vickie-Jo Ford | (Appointed 12 October 2023) |
| Mrs Nicole Jane Bignell | (Appointed 12 October 2023) |
| Mr Tim Dowe | (Appointed 19 August 2024) |
| Mr Robert Webb | (Appointed 12 October 2023) |
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WARSTOCK COMMUNITY CENTRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
The trustees are elected at the AGM. Recruitement can be a problem but trustees are usually appointed by recommendation or by someone who attends a group.
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The trustees meet formally bi-monthly, but are able to meet when necessary between meetings. The trustees take an active part within the centre.
There are no known related parties.
The trustees' report was approved by the Board of Trustees.
Mrs Nicole Jane Bignell Trustee/Treasurer Dated: 17 October 2024
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WARSTOCK COMMUNITY CENTRE
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF WARSTOCK COMMUNITY CENTRE
I report to the trustees on my examination of the financial statements of Warstock Community Centre (the charity) for the year ended 31 March 2024.
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 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts 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 financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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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 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 financial statements to be reached.
M T Manley & Co Limited
696 Yardley Wood Road Billesley Birmingham West Midlands B13 0HY United Kingdom
Dated: 17 October 2024
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WARSTOCK COMMUNITY CENTRE
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and legacies 3 3,573 31,740 Charitable activities 4 71,909 - Investments 5 739 - Total income 76,221 31,740 Expenditure on: Charitable activities 6 91,227 13,718 Total expenditure 91,227 13,718 Net income/(expenditure) and movement in funds (15,006) 18,022 Reconciliation of funds: Fund balances at 1 April 2023 94,911 3,863 Fund balances at 31 March 2024 79,905 21,885 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 35,313 7,573 - 71,909 67,357 - 739 50 - 107,961 74,980 - 104,945 70,487 2,197 104,945 70,487 2,197 3,016 4,493 (2,197) 98,774 90,418 6,060 101,790 94,911 3,863 |
Total 2023 £ 7,573 67,357 50 |
|---|---|---|
| 74,980 72,684 |
||
| 72,684 | ||
| 2,296 96,478 |
||
| 98,774 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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WARSTOCK COMMUNITY CENTRE
BALANCE SHEET
AS AT 31 MARCH 2024
| Notes Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Net assets excluding pension liability The funds of the charity Restricted income funds 14 Unrestricted funds |
2024 £ 5,906 96,740 102,646 (856) |
£ 101,790 101,790 21,885 79,905 101,790 |
2023 £ 8,169 90,969 99,138 (364) |
£ 98,774 |
|---|---|---|---|---|
| 98,774 | ||||
| 3,863 94,911 |
||||
| 98,774 |
The financial statements were approved by the trustees on 17 October 2024
Mrs Nicole Jane Bignell Trustee
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WARSTOCK COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
Charity information
Warstock Community Centre is a registered charity.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "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)". 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 applying FRS 102 Update Bulletin 1 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, 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 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.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 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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WARSTOCK COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
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.
1.5 Financial instruments
The charity 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 charity's balance sheet when the charity 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 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.
1.6 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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WARSTOCK COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
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 Donations and grants
| Unrestricted Restricted funds funds 2024 2024 £ £ Donations and gifts 3,573 - Grants received - 31,740 3,573 31,740 |
Total Unrestricted funds 2024 2023 £ £ 3,573 3,573 31,740 4,000 35,313 7,573 |
Total Unrestricted funds 2024 2023 £ £ 3,573 3,573 31,740 4,000 35,313 7,573 |
|---|---|---|
| 7,573 |
4 Charitable activities
| Charges for | Charges for |
|
|---|---|---|
| hall hire | hall hire | |
| 2024 | 2023 | |
| £ | £ | |
| Sale of goods | 71,909 | 67,357 |
5 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Interest receivable | 739 | 50 |
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WARSTOCK COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
6 Expenditure on charitable activities
| Direct costs Staff costs Share of support and governance costs (see note 7) Support Governance Analysis by fund Unrestricted funds Restricted funds Support costs Support costs Governance costs £ £ Rates 1,472 - Heat & light 6,329 - Repairs & maintenance 28,617 - Sundry expenses 2,327 - Legal & professional 645 - Independent examiner fees - 720 39,390 720 Analysed between Charitable activities 39,388 720 |
2024 £ 1,472 6,329 28,617 2,327 645 720 40,110 40,108 |
Charitable activities Charitable activities 2024 2023 £ £ 64,837 51,119 39,388 20,857 720 708 104,945 72,684 91,227 70,487 13,718 2,197 104,945 72,684 Support costs Governance costs 2023 £ £ £ 2,070 - 2,070 5,745 - 5,745 10,091 - 10,091 129 - 129 1,137 - 1,137 - 708 708 31,854 708 32,562 20,857 708 21,565 |
|---|---|---|
7 Support costs
Governance costs includes payments to the independent examiners of £720 (2023- £708) for professional fees.
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year, and none of them were reimbursed any travelling expenses (2023- none were reimbursed anything).
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WARSTOCK COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
9 Employees
The average monthly number employees during the year was 6 part time staff.
| The average monthly number employees during the year was 6 part time staff. | ||
|---|---|---|
| 2024 | 2023 | |
| Number | Number | |
| 7 | 7 | |
| Employment costs | 2024 | 2023 |
| £ | £ | |
| Wages and salaries | 64,837 | 51,119 |
| There were no employees whose annual remuneration was more than £60,000. |
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Debtors
| Amounts falling due within one year: Trade debtors Other debtors 12 Creditors: amounts falling due within one year Trade creditors |
2024 £ 5,906 - 5,906 2024 £ 857 |
2023 £ 7,123 1,046 |
|---|---|---|
| 8,169 | ||
| 2023 £ 364 |
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WARSTOCK COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
13 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 1 April | Incoming | Resources | At 31 March | |
|---|---|---|---|---|
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| General funds | 94,911 | 76,221 | (91,227) | 79,905 |
| Previous year: | At 1 April | Incoming | Resources | At 31 March |
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| General funds | 90,418 | 74,980 | (70,487) | 94,911 |
14 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| Movement | Movement | in funds | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at | Resources | Balance at | Incoming | Resources |
Balance at | ||||||||
| 1 April 2022 | expended | 1 | April 2023 | resources | expended | 31 | March 2024 | ||||||
| £ | £ | £ | £ | £ | £ | ||||||||
| Garden | 3,560 | (697) | 2,863 | 19,500 | (9,800) | 12,563 | |||||||
| Community Asset Transfer | 2,500 | (1,500) | 1,000 | - | - | 1,000 | |||||||
| The Hub | - | - | - | 12,240 | (3,918) | 8,322 | |||||||
| 6,060 | (2,197) | 3,863 | 31,740 | (13,718) | 21,885 | ||||||||
| 15 | Analysis of net assets between funds | ||||||||||||
| Unrestricted | Restricted |
**Total ** | Unrestricted | Restricted | Total | ||||||||
| funds | funds | funds | funds | ||||||||||
| 2024 | 2024 | 2024 | 2023 | 2023 | 2023 | ||||||||
| £ | £ | £ | £ | £ | £ | ||||||||
| Fund balances at 31 | |||||||||||||
| March 2024 are | |||||||||||||
| represented by: | |||||||||||||
| Current assets/(liabilities) | 79,904 | 21,885 | 101,789 | 90,418 | 3,863 | 96,478 | |||||||
| 79,904 | 21,885 | 101,789 | 90,418 | 3,863 | 96,478 |
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