Charity registration number 220557
ALLESTREE EVERGREEN CLUB
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
ALLESTREE EVERGREEN CLUB
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Karen Geraghty John Young Dave Simpson Phillip Duesbury Eileen Young
Charity number Principal address
220557 Cornhill Derby Derbyshire DE22 2FT
ALLESTREE EVERGREEN CLUB
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 10 |
ALLESTREE EVERGREEN CLUB
TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY 2024
The trustees presents its annual report and financial statements for the year ended 31 July 2024.
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 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).
Objectives and activities
Public benefit
The trustees has 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
During the financial year both memberships and number of hall hires have increased. The club member activities have been attended by more of the members and one off events and workshops have also been popular amongst members.
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 considers 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 year.
Structure, governance and management
This is an unincorporated entity which is governed by the constitution adopted on 23 May 1951.
The members of the trustees who served during the year and up to the date of signature of the financial statements were:
Karen Geraghty John Young Dave Simpson Phillip Duesbury Eileen Young
Recruitment and appointment of trustees
There have not been any new trustees appointed this financial year. When appointed, the Chair of the committee (John Young) updates all charity details accordingly.
None of the members of the trustees has any beneficial interest in the charity.
The trustees report was approved by the Trustees.
Karen Geraghty Trustee
John Young Trustee
6 September 2024
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ALLESTREE EVERGREEN CLUB
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ALLESTREE EVERGREEN CLUB
I report to the trustees on my examination of the financial statements of Allestree Evergreen Club (the charity) for the year ended 31 July 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.
Gareth Murfin FCCA
Dated: 6 September 2024
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ALLESTREE EVERGREEN CLUB
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 2 | 27,573 | 21,646 |
| Investments | 3 | 454 | 134 |
| Total income | 28,027 | 21,780 | |
| Expenditure on: | |||
| Charitable activities | 4 | 18,003 | 20,029 |
| Total expenditure | 18,003 | 20,029 | |
| Net income and movement in funds | 10,024 | 1,751 | |
| Reconciliation of funds: | |||
| Fund balances at 1 August 2023 | 66,197 | 64,446 | |
| Fund balances at 31 July 2024 | 76,221 | 66,197 |
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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ALLESTREE EVERGREEN CLUB
BALANCE SHEET
AS AT 31 JULY 2024
| Notes Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Net assets excluding pension liability The funds of the charity Unrestricted funds |
2024 £ 981 72,759 73,740 (700) |
£ 3,181 73,040 76,221 76,221 76,221 76,221 |
2023 £ 562 62,073 62,635 (640) |
£ 4,202 61,995 |
|---|---|---|---|---|
| 66,197 | ||||
| 66,197 | ||||
| 66,197 | ||||
| 66,197 |
The financial statements were approved by the trustees on 6 September 2024
Karen Geraghty Trustee
John Young Trustee
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ALLESTREE EVERGREEN CLUB
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
1 Accounting policies
Charity information
Allestree Evergreen Club is a unincorporated charity.
1.1 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” (“FRS 102”) 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)" (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 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.
1.2 Going concern
At the time of approving the financial statements, the trustees has 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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ALLESTREE EVERGREEN CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
1 Accounting policies
(Continued)
1.5 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.
1.6 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:
Fixtures and fittings
25% straight line method
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 the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity 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).
1.8 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.
1.9 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.
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ALLESTREE EVERGREEN CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
1 Accounting policies
(Continued)
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.
1.10 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.
2 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Other | 27,573 | 21,646 |
3 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Interest receivable | 454 | 134 |
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ALLESTREE EVERGREEN CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
4 Expenditure on charitable activities
| Charitable | Charitable | ||
|---|---|---|---|
| Activities | Activities | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Direct costs | |||
| Depreciation and impairment | 2,231 | 1,929 | |
| Subcontractor | 2,443 | 1,331 | |
| Rates | 437 | 499 | |
| Cleaning | 3,803 | 3,463 | |
| Waste disposal | 313 | 441 | |
| Power, light and heat | 2,890 | 1,233 | |
| Property repairs and maintenance | 1,832 | 3,880 | |
| Premises insurance | 777 | 2,702 | |
| Subscriptions | 30 | 90 | |
| Accountancy | 630 | 1,080 | |
| Printing and stationary | 110 | 98 | |
| Telephone | 331 | 411 | |
| Premises expenses | 2,176 | 2,872 | |
| 18,003 | 20,029 | ||
| Analysis by fund | |||
| Unrestricted funds | 18,003 | 20,029 | |
| 5 | Net movement in funds | 2024 | 2023 |
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Depreciation of owned tangible fixed assets | 2,231 | 1,929 |
6 Trustees
Eileen Young, a trustee received £140 for her caretaking services throughout the year.
In cases where trustees personally purchase items for the Allestree Evergreen Club, they are reimbursed on submission of receipts or invoices. Records are kept of all reimbursements and any expenses over £100 must be agreed prior by the committee.
7 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
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ALLESTREE EVERGREEN CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
9 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Fixtures and | |
| fittings | |
| £ | |
| Cost | |
| At 1 August 2023 | 7,715 |
| Additions | 1,209 |
| At 31 July 2024 | 8,924 |
| Depreciation and impairment | |
| At 1 August 2023 | 3,512 |
| Depreciation charged in the year | 2,231 |
| At 31 July 2024 | 5,743 |
| Carrying amount | |
| At 31 July 2024 | 3,181 |
| At 31 July 2023 | 4,202 |
| 10 Debtors Amounts falling due within one year: Prepayments and accrued income 11 Creditors: amounts falling due within one year Notes Deferred income 12 Accruals and deferred income 12 Deferred income Other deferred income |
2024 £ 981 2024 £ 60 640 700 2024 £ 60 |
2023 £ 562 |
|---|---|---|
| 2023 £ - 640 |
||
| 640 | ||
| 2023 £ - |
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ALLESTREE EVERGREEN CLUB
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
12 Deferred income
(Continued)
Deferred income is included in the financial statements as follows:
| Deferred income is included within: Current liabilities Movements in the year: Warning! Figures do not agree by: |
2024 £ 60 60 |
2023 £ - |
|---|---|---|
| - |
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 August | Incoming | Resources | At 31 July | |
|---|---|---|---|---|
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| General funds | 66,197 | 28,027 | (18,003) | 76,221 |
| Previous year: | At 1 August | Incoming | Resources | At 31 July |
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| General funds | 64,446 | 21,780 | (20,029) | 66,197 |
14 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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