WEST BLETCHLEY COMMUNITY ASSOCIATION
NOTES TO ACCOMPANY THE END OF YEAR ACCOUNTS FOR 2023/24
The End of Year Accounts for the financial year 2023, as far as possible, reflect accurately the true picture of the income, expenditure and financial assets of the West Bletchley Community Association.
This was the second year of comparable normality since Covid and its associated consequences. It saw the return of many of the user groups and their members, almost to a level of that prior to the pandemic, but which were supplemented by new initiatives. The pandemic hit the Association hard, to such an extent that closure seemed inevitable.
INCOME
As the Association does not receive any automatic Subsidies or Grants it relies solely for income on hiring out its facilities to community groups who provide a wide range of activities across the whole week from Monday to Sunday. This was supplemented by small grants from various sources either for general use but more often for specific purposes. For example, this year has seen an extension of activities all of which are community based such as the Warm Space initiative funded by Bletchley Parish Council. Other activities included a Coronation Breakfast, a Christmas Party and Special Events for the area; some of which were paid for by small grants whilst others wholly by the Association.
Rising costs have increased the need for more income but this raises a problem which has affected the Association for a number of years, in that the amount charged to the Groups cannot be increased easily. The Association has always been faced with no automatic subsidy and hire charges which must be contained; Users would leave for cheaper venues. The Association has constantly absorbed any cost increases in order to retain equilibrium of users/costs. The Association has also discussed alternate/possible ways of increasing income but has not made any progress as yet.
The income this year has been remarkably buoyant considering the general economy affecting a cost of living crisis for many. But thanks to the new initiatives it has outstripped the rise in costs.
EXPENDITURE
According to the Lease of the Centre, put simply, the Association is responsible for the internal aspects of the building, including Public Liability, running costs, internal maintenance etc. whilst Milton Keynes City Council (Landlord) is responsible for the building and fabric. The
costs obviously are not inconsiderable; the dramatic rise in utility costs plus our duty to provide a clean warm and safe environment for users, staff and volunteers, has resulted in a slight increase to the total expenditure over the year.
INVESTMENTS
The interest rates in the financial year have improved and are the best since the so called ‘crash’ of 2008. However, the Association has retained the same parties for investments, i.e. Shawbrook Bank Bond as the illiquid account, and the Santander Business Account for the liquid account from which we may easily transfer monies to the current account if necessary.
Although the Association is constantly on the look-out for better rates of interest it is not easy due to stringent bank rules with regard to laundering of monies and because Banks and Building Societies, perhaps surprisingly, will not deal with Village Halls, Community Centres and the like. Nevertheless the Association will always be on the look-out to improve the finances.
FUTURE
The Association has experienced a very successful year both in increased activities and finances but in the next financial year negotiations will take place for a new Lease.
KEN SISSON TREASURER TO THE WEST BLETCHLEY COMMUNITY ASSOCIATION
Treasurer Sheet 2024
31/12/2024
Receipts and Payments
West Bletchley Community Association
Receipts And Payments For The Year Ending 31st March 2024
Confidential
| 2022/23 | 2022/23 | RECEIPTS | 2023/24 | 2022/23 | 2022/23 | PAYMENTS | 2023/24 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| £ | GENERAL | £ | ||||||||||||
| 345.00 | Members/Aff. Fees | 492.00 | 2,555.88 | Lease/Water/Rates | 3223.53 | |||||||||
| 0.00 | Patrons | 0.00 | 5,225.58 | Gas/Electricity | 11115.28 | |||||||||
| 4,791.05 | Members Groups | 4,837.35 | 3,157.38 | Cleaner/Materials | 4105.59 | |||||||||
| 15,731.91 | Affiliated Groups | 16,428.73 | 11,980.67 | Salaries/Pay Roll/Auditor | 12296.42 | |||||||||
| 3,973.80 | Hirings | 11,457.35 | 0.00 | Staff Training | 0.00 | |||||||||
| 199.40 | Raffle | 147.00 | 9.05 | Raffle Costs | 108.59 | |||||||||
| 4.00 | Repro/Other Income | 7.00 | 626.39 | Telephone/Stamps | 598.85 | |||||||||
| 435.42 | Rubbish Bin | 452.34 | ||||||||||||
| 411.80 | Advertising | 0.00 | ||||||||||||
| 578.76 | Fire/\Extinguishers | 782.40 | ||||||||||||
| 748.73 | Insurances | 824.85 | ||||||||||||
| 0.00 | Locality/Comm Impact | 65.00 | ||||||||||||
| OTHER INCOME | 100.00 | Hirings Refunds | 400.00 | |||||||||||
| 635.01 | Repairs/Maintenance | 609.00 | ||||||||||||
| 2434.02 | Charity Shop | 3070.81 | 0.00 | Prizes for 100 Club | 0.00 | |||||||||
| 360.80 | Miscellaneous | 95.00 | 16.44 | Refreshments | 0.00 | |||||||||
| 587.07 | Refunds | 0.00 | 164.62 | Performing Rights | 186.89 | |||||||||
| 131.61 | Miscellaneous | 755.23 | ||||||||||||
| 208.11 | Office Expenses/Printer | 106.82 | ||||||||||||
| £28,427.05 | GENERAL INCOME | £36,535.24 | £26,985.45 | GENERAL OPERATING EXPENSES | £35,630.79 | |||||||||
| GRANTS/DONATIONS | MAJOR ITEMS | |||||||||||||
| 0.00 | Funded Exercise C | * | 1023.00 | 0.00 | Funded Exercise Class | 1,350.00 | ||||||||
| 0.00 | Christmas Party | 301.00 | 0.00 | Christmas Party | 303.05 | |||||||||
| 3000.00 | Gvt Grant Aid Warm | * | 672.98 | 290.80 | Warm Initiative | 559.52 | ||||||||
| 1000.00 | MKC Councillor | 0.00 | 0.00 | MKC Councillor | 0.00 | |||||||||
| 279.00 | Donations | 1357.77 | 0.00 | Donations | 504.77 | |||||||||
| 5000.00 | New Boiler | 0.00 | 7920.00 | New Boiler | 0.00 | |||||||||
| 2000.00 | New Cooker | 0.00 | 1,534.00 | New Cooker | 0.00 | |||||||||
| 96.00 | Special Events | * | 660.70 | 814.14 | Special Events inc Coronation Meal et al | 853.87 | ||||||||
| 0.00 | **Grants *** | * | 4505.00 | 1,096.92 | Electrical and Lighting | 688.94 | ||||||||
| £78.00 | Information Tecnology | 325.04 | ||||||||||||
| £427.64 | Investment A/Cs Interest | £1,329.40 | ||||||||||||
| £11,733.86 | MAJOR ITEMS | £4,585.19 | ||||||||||||
| ~~£40,229.69~~ | ~~TOTAL INCOME~~ | ~~£46,385.09~~ | ~~£38,719.31~~ | ~~£40,215.98~~ | ||||||||||
| Excess of Income Over Expenditure | £6,169.11 | |||||||||||||
45055.69
BALANCE SHEET
2023/24
REPRESENTED BY:
| BALANCE | 31st March 2023 | |
|---|---|---|
| Current Bank Account | 27,802.86 | |
| Santander Business A/C | 34,721.86 | |
| Virgin Money | 281.20 | |
| Shawbrook Bank | 41,738.05 | |
| ~~TOTAL~~ | ~~£104,543.97~~ | |
| Excess of Income | 6,169.11 | |
| Over Expenditure | ||
| TOTAL | ~~£110,713.08~~ |
| BALANCE Current Bank Account Santander Business A/C Virgin Money Shawbrook Bank |
31st March 2024 32,642.57 35,046.38 284.72 42,739.41 £78,070.51 |
|---|---|
| TOTAL | ~~£110,713.08~~ |
K.SISSON April 24
KS/MA 20.4.07
10:45
Report to the Trustees of West Bletchley Communlty Assoclatlon I report on the accounts of the charity for the year ended 31 March 2024 Re5pectlve Responslbllltles of the Trustees and Examlner The Trustees of the Assoclation are responslble for the preparation of the accounts. The Tru5tee5 consider that an audit is not required for this year under sertion 144{21 of the Charlties Act 2011 (the 2011 Act) and that an independent examinatlon Is needed. It is my responsibility to: examine the accounts under section 145 of the 2011 Act, •> follow the procedures laid down in the General Directions 8iven by the Charity Commissioners under sectlon 14515}Ibl of the 2011 Act, é state whether particular matter{sl have come to my attention. Basls of an Independent Examlnerfs Report My examination wa5 Carried out in accordance with the General Directions given by the -charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also Includes consideration of any unusual items or disclosures in the accounts and seeking explanation from you as the Charity's Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently. no opinion is glven as to whether the account present a 'true and fair view, and the report IS limited to those matters set out in the statement below. Independent Examinerfs Statement In connection wlth my examination, no matter has come to my attentlon: l. which gives me reasonable cause to believe that In any materlal respect the requirement5: •% to keep accounting records in accordance with section 130 of the 2011 Act; and •> to prepare accounts which accord with the accountin8 records and complv wlth accounting requirements of the 2011 Act, have not been met.. or 2. to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Chibuzor Chima-okoro ACCA As50clation of Chartered Certified Accountants 3 Gordale Heelands Milton Keynes, MK13 7NQ July 9, 2024