REf¥lSTERED CHARITY NUMBER: 269461 KEI'ORT OF THE TRUSTEES AND NAUDITED FINANCIAL STATEMCNTS foR THE YEAR ENDED 31ST DECEMBER 2024 FOR OULTON COMfvIUNITY ASSOCIATION T.A. Knell The Ridings 5 Boffoii. Road Oultoji Broad L(Trive510fl Suffolk NR3:. 3PN
OULTON CONIMUNITY ASSOCIATION CONTENTS OF THE FIliANCIAL STATEMENTS ND TDE EMBER 2024 PagE Report of the Trustees Independen( Examiners Rewrt Statement of Fiiiancial Activities Statement of Financial Position Noles 10 Ilie Financial Siaiemenis Detailed Siatemenl of Finan¢ial Aciiwiiies 10
OUL TON COMMUNITY ASSOCIA TION REPORT OF THE TRUSTEES RTHEY The trustees present their report with Ihe rtnancial 51atefftents of ihe chaiitv for Ihe vear ended 315t December 20?4. Tlie Irusiees have adopted ihe provisions of Ac¢ouniiiig and Reponing bv Chariiies.. Staiement of R¢¢omin¢nded Praclice applicable to charities preparing iheir accounts in accordance wÉih the Financial Re)rtIng Siandard applicable iii the UK and Republic of Ireland IFRS IQ21 leffeclive l Januan":. 0191. STRucfuRE, GOVERNANCE AND MANAGEMENT Governing docvmenl The charirv is conirolled by it5 g(Trverning document. a deed of Tnist and conslitule.s an Iinincorporated cliarity. REFERENCE AND ADMIiYISTRATIVE DETAII Registered Charity number 269461 Prinf ipal iddre55 Oulion Conijniinity Centre Meadow Road Oulton Lowestoft SLiffolk NR32 3AZ Trustees Mrs P Robinson Mrs M King K Robinson E Back T Kiiiglit5 (appointed 24.2.20?41 D Bron)le)" {aptK)inied i.8.20241 Mrs J Illiiigsw(irth lappoinied 23.8.202.$1 Independent Examintr Tlioiiias Alexander Knell T.A. Knell The Riding5 5 Borrow Road Oiilton Broad Lowestoft Suffolk NR32 3PN Approved by order of the board olirusiees on 3 Isl (ktober 2025 and sigrked on it5 behalf by= K Robinson - Trustee Page I
INDEPENDENT EXAMIYER'S REPORT TO TIIE TRUSTEES OF OULTON COIllMUNITY ASSOCIATION INdepeent examrner's report to the Irustees of Oullon Cfrmmunit!. Association I report to the charity tTllStee5 on mv e.¥atniiiation of the accounts of Oulton Cornmuiiity Aswiation (the Trusii for the year elided 31 sl December 2024. Re5pon5Lbilities Bnd ba515 of report As the charity irusiees of Ihe Trust you arr re5Wllsible for thc preparation uf the accounis iii accordance iviili Ili¢ requireinents ofthe Charities Act 2011 I'ihe Acl'}. I report in respec¢ of my examinaiion ofthe TTUSt's actounis Caled oul nde1 Seclion 14% of the Act and in caTr}'ing out my examinarion I have followed all appli¢3bl¢ Dire(tion5 given b), the Cliarity CoiMIMission under Seciion 145{SXbl of the Act. Independent ¢X8niiiitr's stalemenl I have coinpleied my examination. I confiTllI tliat no iTraterial matters have COTne to my atteniion in connection witli Ili¢ examination giving me cause to believe ihal in any maierial respeci.. accDunlLiig records tre nol kept in re5pccI olihe I'tusl as required by Seciiori 1.70 of the A¢l- or the <1CCOllnts do not accord i¥'iili those rwords.. or tli¢ acrounts do not complv wirh Ihe applicable requireinents conceming the forni an(1 ronteiTrl ofaccoiinls sei oui in the Cliarities (Accounts and Report5} Regulations ?008 other any requireineni rhai the accoiinis give true and fair view which is not a matitr coiisÉdered as part of an independent examination. I have no concerns and hawe come across no oihcr maiieTS in conneciion wilh Ihe exaimiiiation lo whicli atlention shoiild be drydwn in this report in order to enable a proptr undersianding of the accouiils to be re3clied. Tlioin2s Alexander Knell T.A. Knell Tli¢ Ridings Borrow Road Oulion Broad Lowestoft sffOlk NR32 3PN 31 st October 2025 Page 2
OULTON COMMUNITY ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR TIIE YEAR ENDED JIST DECEMBER 2024 2024 Unrestricied fijnds 2023 Toial funds Ne5 INCOME AND ENDOWMENTS FROM Donati011s and legaeies 1.5,08 31.105 Total 36.610 47,679 EXPENDITURE ON Rgising funds Raising donaiions and legacies Other trading activitie5 47.103 2.250 47.99$ 49,353 47.99.5 NET INCOMEIIEXPENDITLRE) 112.743) 1310} RF.C.ONCILIATION OF FUNDS Total funds brOu7t fon¥ard 70.331 70.647 TOTAL FUNDS CARRIED FORWARD .57.588 70.33 1 CONTINUINC. OPERATIOYS All income and expendituie ha5 arisen from COTttiiiuing aciiyiiies. The noies fomi part of these financtal slalernent5 Page J
OULTON COMMUNITY ASSOCIATION s'rATEMENT OF FINANCIAL POSITION 31ST DECEMBER 2024 2024 Unreslricted funds ?023 Total fuiid Notes FIXED ASSETS Tangible assets 46.351 44.659 CURRENT ASSETS Debtor5 Casli at bank 275 14.071 3.663 24.949 14.346 ?8.612 CREDITORS Amounts fallin¥ due wiihin one year 13.109) 12.9401 NET CURRENT ASSETS 11.237 25.672 TOTAL ASSETS LESS CURRENT LIABILITI ES 57.588 70.i31 NET ASSETS 57.588 70.331 FUNDS Uiire5tricled fund5 57.588 70.3.31 TOTAL FUNDS 57.558 70._331 The financial stateinents were approved by the Board of Trustees and auihorised for issue an 3151 Ocioher 202$ aiid were signed on ils beliaifby.. K Robinson- Trnslee The notes form pati of these finan¢ial staiemeiits Page 4
LTON COMMUNITY ASSOCIA TION OT THI FINAN FOR THE YEA END TATE.MEN.TS CEMBER 2024 ACCOUNTING POLICIES Basis of preparine the finxncial slatements The financial 5talemen15 of tlie charily. 1*41ich is a public benefil entit under FRS 102. have been prepared in accordaiice MÉlh the Charities SORP IFRS 102) 'Ac¢ouJiiing and Reportino by Charities.. Siaie111eni of Recoinmended Prnctice applicable to charities preparing Ilieir accounis in accordance witli the Financial Reporting Standard appli¢able in ihe UK and Republic of Ireland IFRS 10?) leffe¢liTre l January 201QI'. Financial Reporting Standard 102 'The Financial RepDning Siandard applicable in the IIK and Republic ()f Irelaiid, and the Charitie5 Act 2011. The financial 5talemEn15 have been prepared under t7 lii%torical cosi c(Mivenli()n. Income All incoine is recognised in Ilie SiatEmeni of Financial Aciivitie5 once the charitv ha5 eiititleimeni to the funds. it is probable that the incoille will be received and ihe amounl can be tnea5ured rtliably. Expendrture Liabilities are recognised as expeiidiliire as soon as there is a legal or cortsiruciive abligaiion coiniiiiltijig ihe chariry 10 Iliai expendiiure. il is probable thal a iransfer of e¢onomic beiiefits wrll be required in sciilenient tlie amount of the obligation can be nieasured reliabli.. Eipendiiure is accounted fnr on an accruals basis and has b¢cn classified under headings thai aggregate all cost relaled to the caie?ory. Wliere costs cannot be diiectly altribiiled to Pc1rticiJlar headin¥ tliey have been allocated to aciiviries on a basis tonsisieni 111] Ilie use of rt5011rce5. Tallgible fixed 955etS Depreciatloll 15 provided at the folloiving annual rates in order to write off each asset over 115 e51iinated iisefiil Fixtures apd fitting5 2#11 on ieducing balance Taxatio Tlie cliarity is exeinpt from on its charitable activilies. Fund accounting Unreslricled funds can be used in accordallce with ihe chariiable obj(Ytives al ihe di5crelioii ofilie Trustees. Resrricied flind5 can only be used for parti¢ular restrrcted purrM)ses wiihin the objec15 of Ihc charity. Reslridion5 arise when S[c1r1ed by the donor LTrr when funds 11 re raised for particular resiricied purposes. Fiirther explanation Dfthe nature and purv of each fund is included in tlie notes io the fiiiancial siaienieTIIS. Pen5jOD fO$ts #nd other posl-retirement benefit5 Tlie charity opeTale5 a defjned conlribuiion pension scheme. Coniribuiions payable lo the charity's pens101) scheine are ¢harged to the Stalement olFillancial Activiiies in the periiMI to which Ihey relale. OTHER TRADING ACTIVITIF.S 2024 2023 Rent from hire of ho11 including.joining aiid affiliaiion fees -12.594 Page 5 continiied...
LT OMM NITY ASS IATION NOTES TO THE FINANCIAL STA TF.MF.NTS- ¢oiitiiiu¢d FOR THE YEAR ElDED 31ST DECEMBER2024 TRUSTEES, REMUNERATION AND BEfEFITS Tl)ere were no trustees. reniunerarion or other benefit5 for the year ended 3 1st tkcen)ber 2024 nor for ¢h¢ year ended 3 1st December 2023. Trustees, expen$es There were no irustce5' cxpeiise5 paid foi the year ended 31* December 2Q24 nor for tlie Je3r ended 31 st Deceinber 2023. COMPARATIVES FOR THE STATEMF.NT OF FINANCIAL AcfiviTIES Uiiiestricted fuiids INCOME AND ENDOWMEP4TS FROM Donaiion5 and legacies 15,08.S Other Irading activilies Total 47.679 EXPENDITIIRE ON Raising fund5 Raising dnnalinn8 and legacies 47.995 47.995 P4ET INCOMEIIEXPENDITURE) RECONCILIATION OF FUNDS Total fiinds broiiglil (on¥aid 70.647 TOTAL FUNDS CARRIED FORWARD 70.331 Page 6 coniinued.-.
OULTON COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMEN"'TS- continued FOR THE YEAR ENDED 31ST DECEMBER 2024 TANGIBLE FIXED ASSETS Fixtures and rittillgs Long leaseliold T(Ilals COST Ai l%1 Janiiary 2024 Additions 42.967 2.947 2.539 45.914 2,539 Ai 31 $1 December 2024 42.967 S.486 48.453 DEPRECIATIOiY Ai 181 Januarv 2014 Charge for year 1.255 847 1.255 847 At 315t Deccmbcr 2024 2.102 NET BOOK VALUE At 31 st Decelliber 2tJ24 42.967 3.384 46.151 At 31 st Deceiiiber 2023 4?.967 1.692 DF.IITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 20?3 Debtors 3.063 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditor5 Taxation and social seCritY 1.093 2.016 2.765 175 3.109 2.94D MOVEMENT IN FUNDS Net )OVetneni iii funds Al 31.12.24 At I 1.24 UrtrICted funds GENERAI. 70.331 112.7431 57.588 TOTAL FUNDS 70.311 11?.7431 57..$88 Page 7 Contin1d.
OULTON COMMUNITY ASSOCIA TION NOTES TO THE FINANCIAL STATEMENTS- Coniinued FOR THE YEAR ENDED 31ST DECE¥IBER 2024 MOVEMENT IN FUNDS- continued Nei movenient in fund& included ID the akKTrve are os follows= ncotlling re50Lirct5 Resource e.¥pended Miiveni¢nl Unre5triettd funds GENERAL (49.353) 112.7431 TOTAL FUNDS 36.610 149.3.53) 112.7431 Comparative5 for MoeMent in fund5 Net movemEtrt in funds Al 31.12.2i Al I 1.23 Vnreslriclcd funds GENERAL 70.647 13161 70.331 TOTAL FUNDS 70.fv17 (i161 70.331 Coniparative net n)ovemellt in funds. included in the alx>ve ale a5 follows= Incomin resource5 Re50111¢es expeiided Moveiiient in fuiids Unrestricted fund5 GENERAL 47.679 147,99.fj1 1316) TOTAL FUNDS 147,99$1 A current year 12 Inonths and prior year 12 month5 combined JxTrsilion is as follows.. Nef Inovenienl ii) funds At il.12.24 At 1.1_23 Unrestrieted fiillds GENERAL 7D.647 {13.0591 57.-588 TOTAL FUP4DS 70,647 {13.0591 57.588 Page 8
OULTON COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contiiiued FOR THE YEAR EliDED 31ST DECEMBER 2024 MOVEMENT IN FUNDS- continued A currenl year 12 months and prior year 12 monihs combined nel moveilienl in funds. iiicluded in the above are as follows.. Inconiin re50uice5 ReSoue$ eApended Moveiiient in funds Unrestriettd funds GENERAL 84.289 197.3481 IlJ.0591 TOTAL FUNDS 84.289 197.3481 113.0fj91 RELATED PARTY DISCLOSURES There were no relaled party i¥ansaciions for Ihe vear ended J Isi Deceinber 2024. Page 9
OULTON COMMUNITY ASS(KIATION DETAILED STATEMENT OF FIXANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 20?4 ?024 2023 INCOME AND EP4DOWMENTS Don#tion.s Itg&cies Donaiions received Grants received 5.505 1.5.0.54 5.505 15.085 Other trading activities Rent from hire of hall including JoÈning and affilialiotk fees 31.los Total incomlng resources 36,610 47.679 EXPENDITURE Raising donatlOT15 and leg2cies Cenlre mana¥erfs salar¥. and careiaking Pe370$ Water and sewerag¢ Insiirance Light and lieul Telephone and pDstag¢ Priniing. siarionery and advertising Sundrie5 Repairs and renewals Perfortning Ri115 5ub5EripIio Cleaiiing materia15 Accountancy Refuse collection Field iiiainlenancc Property repairs Website maintenance Bank cliarges Funeral dDnation Mileage Legal fees Fixtures and fittings 2CTr.530 680 S65 1.203 7.091 669 16.600 379 732 578 125 100 1.794 -135 46 1.165 201 939 380 355 -$87 248 1.67? 120 104 20 87 i.206 423 257 1.66? i?0 847 47.103 47.99.5 Olher trading activitie5 Wami Wel¢tsine Scheme c051s 2,1.$0 Total resources expended 49.353 47.995 Net expenditure 112.74il This pag¢ does not foTm patl of Ihe siatiiiory financial statemenis P3¥e 10