2022-03-31-accounts - The Ongar And District Community Association

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Ongar and District Community Association

Charity No. 270668

Trustees' Report and Unaudited Accounts

31 March 2022

Ongar and District Community Association Contents

	Pages
Trustees' Annual Report	2 to 3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Statement of Cash flows	16
Notes to the Accounts	8 to 15
Detailed Statement of Financial Activities	17 to 18

Page 1

Ongar and District Community Association Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 270668

Principal Office

The Budworth Hall High Street Ongar Essex CM5 9JG

Trustees

The following trustees served during the year:

N. Harries (Resigned 29 June 2022) D. Irving M. Jenkins

Key Management Personnel

Chair Roger Roles

Accountants

ANDREW BOWTLE MAAT LIMITED Unit 27, Ongar Business Cent The Gables, Fyfield Road Ongar Essex CM5 0GA

Bankers

The Co-Operative Bank p.l.c. P.O. Box 101 1 Balloon Street Manchester M60 4EP Address Line 5

Solicitors

Address Line 5 Address Line 5

Investment Advisors

OBJECTIVES AND ACTIVITIES

Page 2

Ongar and District Community Association Trustees Annual Report

To promote the benefits of the inhabitants of Ongar and the neighbourhood without distinction of sex, sexual origination, race or of political, religious or other opinions by associating the local authorities, voluntary organisations and inhabitants in a common effort to provide facilities in the interests of social welfare for recreation and leisure time occupation with the object of improving the conditions of life of the said inhabitants and to establish or to secure the establishment of a Community Centre and to maintain and manage, or to co-operate with any local statutory authority in the maintenance and management of, such a Centre for the activities promoted by the Association and its constituent bodies in furtherance of the aforementioned objects.

The main activities undertaken in relation to those purposes are the hiring of the Ballroom, Concert Room and Meeting Room and the rent of the Coffee Bar & Restaurant contained within the Budworth Hall.

The main activities undertaken to further the charity's purposes for the public benefit are the letting of halls, rooms and other areas within the Budworth Hall. The Trustees have given due consideration to the Charity Commission's guidance on the public benefit requirement contained in Charity Commission Doucments PB1, PB2 and PB3

ACHIEVEMENTS AND PERFORMANCE

The Charity has continued to market the halls to both the residents and sports and social organisations in the local area and has had some success in attracting more regular hirers catering for all ages. The funds generated from these additional lettings will enable the Trustees to continue the upkeep and maintenance, and improve the existing facilities, of the Grade II listed building.

A large charity must review its charitable activities undertaken, explaining performance achieved against objectives set ...

A large charity must include an explanation when material fundraising activities are undertaken, details of the performance achieved against fundraising objectives set ...

A large charity must provide an explanation when material investments are held, details of investment performance achieved against objectives set ...

A large charity must provide an explanation of any material expenditure occurred to raise income in the future...

A large charity must provide commentary on those significant positive and negative factors within and outside the charity's control which are relevant to the achievement of its objectives ...

FINANCIAL REVIEW

Reserves are held for the continued maintenance, upkeep and improvement of The Budworth Hall, a Grade II listed building, built in 1886

PLANS FOR FUTURE PERIODS

A large charity must provide a summary of the charity's plans for the future including its aims and objectives and details of any plans to achieve them ...

A large charity's report should explain the trustees perspective of the future direction of the charity...

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Ongar and District Community Association is an unincorporated charity and is governed by the Constitution drawn up on 17th October 1996

The methods adopted for the recruitment and appointment of new trustees are to advertise within Ongar and district and then for the existing Trustees and the Executive Council members to interview the applicants. The existing Trustees and the Executive Council members will confer and, where more than one person has applied for the appointment, a vote will be taken and a majority decision will be reached.

Page 3

Ongar and District Community Association Trustees Annual Report

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

D. Irving Trustee 09 July 2022

Page 4

Ongar and District Community Association Independent Examiners Report

Independent Examiner's Report to the trustees of Ongar and District Community Association

I report to the trustees on my examination of the financial statements of Ongar and District Community Association for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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 can 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:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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.

RUTH RYAN

The Association of Accounting Technicians AAT Licensed Bookkeeper (Licence No 1006055) Member of The Association of Accounting Technicians 59 Kettlebury Way

Ongar Essex CM5 9HA 09 July 2022

Page 5

Ongar and District Community Association Statement of Financial Activities

for the year ended 31 March 2022

Unrestricted funds	Restricted funds	Total funds	Total funds
2022	2022	2022	2021
£	£	£	£

399	-	399	197
23,914	-	23,914	6,927
219	-	219	750
17,064	-	17,064	23,668
41,596	-	41,596	31,542

40,635	1,279	41,914	34,040
40,635	1,279	41,914	34,040
-	-	-	-
961	(1,279)	(318)	(2,498)
-	-	-	-
961	(1,279)	(318)	(2,498)

961	(1,279)	(318)	(2,498)

123,417	36,964	160,381	162,879
124,378	35,685	160,063	160,381

Page 6

Ongar and District Community Association Balance Sheet at 31 March 2022

Charity No. 270668 Fixed assets Tangible assets 11 Investments 12 Current assets Debtors 13 Cash at bank and in hand Creditors:Amount falling due within one year 14 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 15 Restricted income funds Unrestricted funds 15 General funds Reserves 15 Total funds	2022 £ 4,067 3 4,070 50,512 114,122 164,634 (8,641) 155,993 160,063 160,063 160,063 35,685 35,685 124,378 124,378 160,063	2021 £ 4,785 3
		4,788 56,272 104,944
		161,216 (5,623)
		155,593 160,381
		160,381
		160,381
		36,964
		36,964 123,417
		123,417
		160,381

Approved by the trustees on 09 July 2022

And signed on their behalf by:

D. Irving Trustee 09 July 2022

Page 7

Ongar and District Community Association Notes to the Accounts

for the year ended 31 March 2022

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 8

Ongar and District Community Association Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Improvements to Premises 15% Straight Line Furniture. fixtures and 15% Reducing Balance equipment

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 9

Ongar and District Community Association Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 10

Ongar and District Community Association Notes to the Accounts

2 Statement of Financial Activities - prior year

2 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Charitable activities Investments Other Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies General donations 4 Income from charitable activities Lettings of halls Rent from Coffee Bar & Restaurant Coffee Bar & Restaurant maintenance costs recharged Coffee Bar & Restaurant utility costs recharged	Unrestricted funds 2021 £ 197 6,927 750 23,668 31,542 34,040 34,040 (2,498) (2,498) (2,498) 125,915 123,417 Unrestricted £ 399 399 Unrestricted £ 19,983 3,000 361 570 23,914	Restricted funds 2021 £ - - - - - - - - - - 36,964 36,964 Total 2022 £ 399 399 Total 2022 £ 19,983 3,000 361 570 23,914	Total funds 2021 £ 197 6,927 750 23,668
			31,542 34,040
			34,040
			(2,498)
			(2,498)
			(2,498) 162,879
			160,381
			Total 2021 £ 197
			197
			Total 2021 £ 5,227 1,515 47 138
			6,927

Page 11

Ongar and District Community Association Notes to the Accounts

5 Income from investments

Bank interest received 6 Other income Affiliations COVID related grants received 7 Other expenditure Employee costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 8 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 9 Trustee remuneration and expenses The nature of the reimbursed expenses	Unrestricted Total Total 2022 2021 £ £ £ 219 219 750 219 219 750 Unrestricted Total Total 2022 2021 £ £ £ - - 184 17,064 17,064 23,484 17,064 17,064 23,668 Unrestricted Restricted Total Total 2022 2021 £ £ £ £ 16,836 - 16,836 18,467 10,693 - 10,693 5,506 718 - 718 844 8,132 - 8,132 7,138 4,256 1,279 5,535 2,085 40,635 1,279 41,914 34,040 2022 2021 £ £ 718 844 2022 2021 Number Number No expenses were paid to trustees during the year	Unrestricted £ 219 219 Unrestricted £ - 17,064 17,064	Total 2022 £ 219 219 Total 2022 £ - 17,064 17,064	Total 2021 £ 750
				750
				Total 2021 £ 184 23,484
				23,668

				Total 2021 £ 18,467 5,506 844 7,138 2,085
				34,040

Page 12

Ongar and District Community Association Notes to the Accounts

10 Staff costs

Salaries and wages No employee received emoluments in excess of £60,000.	2022 16,811 16,811	2021 18,467
		18,467

The average monthly number of full time equivalent employees during the year was as follows:

Administration and maintenance

2022 Number 1 1	2021 Number 1
	1

The Ongar and District Community Association has a Workplace Pension fund administered by NEST although those members of staff eligible for the Workplace Pension have opted out of the scheme

11 Tangible fixed assets

11 Tangible fixed assets
Cost or revaluation At 1 April 2021 At 31 March 2022 Depreciation and impairment At 1 April 2021 Depreciation charge for the year At 31 March 2022 Net book values At 31 March 2022 At 31 March 2021 12 Investments Cost or revaluation At 1 April 2021 At 31 March 2022 Net book values At 31 March 2022 At 31 March 2021	Improvemen ts to Premises	Furniture. fixtures and equipment £ 40,092 40,092 35,307 718 36,025 4,067 4,785 Other investments - Unlisted £ 3 3 3 3	Total £ 40,092
	£ - - - - - - -
			40,092
			35,307 718
			36,025
			4,067
			4,785
			Total £ 3
			3
			3
			3


Shares held in Budworth Trading Company

Page 13

Ongar and District Community Association Notes to the Accounts

13 Debtors

	2022 £ 5,694 968 41,579 2,271 50,512 2022 £ 1,310 (160) 5,245		2021 £ 3,364 427 50,579 1,902
			56,272
			2021 £ (251) 102 5,110
	1,030		662
	1,216		-
At 1 April 2021 36,964 36,964 123,417 160,381	8,641 Incoming resources (including other gains/losses ) £ - - 41,596 41,596	Resources expended £ (1,279) (1,279) (40,635) (41,914)	5,623
			At 31 March 2022 £ 35,685
			35,685
			124,378
			160,063

Purposes and restrictions in relation to the funds: Restricted funds:

Funds received from The To provide a Community Centre for the residents of Shelley and Ongar Shelley Community Hall Association

Page 14

Ongar and District Community Association Notes to the Accounts

16 Analysis of net assets between funds

16 Analysis of net assets between funds
Fixed assets Investments Net current assets 17 Reconciliation of net debt Cash and cash equivalents Net debt	At 1 April 2021 £	Unrestricted funds £ 4,067	Total £ 4,067
		3	3
		155,993 160,063 Cash flows £	155,993
			160,063
			At 31 March 2022 £
	104,944	9,178	114,122
	104,944 104,944	9,178 9,178	114,122
			114,122

18 Related party disclosures Name of related party Description of relationship between the parties

Description of transaction and general amounts involved

Budworth Trading Company Limited

Trading activities of the charity

At the year end, the trading company owed the charity £41,579. As at 31st March 2022 the Balance Sheet total of the subsidiary company was £14

Page 15

Ongar and District Community Association Statement of Cash flows for the year ended 31 March 2022

Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Decrease/(Increase) in trade and other receivables Increase/(Decrease) in trade and other payables Net cash used in operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2022 £ (318) 718 (17,283) 5,760 1,802 (9,321) 17,283 17,283 - 7,962 104,944 112,906	2021 £ (2,498) 844 (24,418) (1,485) (2,479)
		(30,036) 24,418
		24,418

		-

		(5,618)
		113,338
		107,720

Components of cash and cash equivalents
Cash and bank balances	114,122	104,944

	114,122	104,944

Page 16

Ongar and District Community Association Detailed Statement of Financial Activities

for the year ended 31 March 2022

Income and endowments from: Donations and legacies General donations Charitable activities Lettings of halls Rent from Coffee Bar & Restaurant Coffee Bar & Restaurant maintenance costs recharged Coffee Bar & Restaurant utility costs recharged Investments Bank interest received Other Affiliations COVID related grants received Total income and endowments Expenditure on: Employee costs Salaries/wages Staff welfare Premises costs Rates Light, heat and power Premises cleaning Premises repairs and maintenance Other premises costs General administrative costs, including depreciation and amortisation Depreciation of Improvements to Premises	Unrestricte d funds 2022 £ 399 399 19,983 3,000 361 570 23,914 219 219 - 17,064 17,064 41,596 16,811 25 16,836 667 5,046 607 2,148 2,225 10,693 -	2022 £ - - - - - - - - - - - - - - - - - - - - - - -	Total funds 2022 £ 399 399 19,983 3,000 361 570 23,914 219 219 - 17,064 17,064 41,596 16,811 25 16,836 667 5,046 607 2,148 2,225 10,693 -	Total funds 2021 £ 197
				197
				5,227 1,515 47 138
				6,927
				750
				750
				184 23,484
				23,668
				31,542 18,467 -
				18,467
				95 2,002 795 1,692 922
				5,506
				-

Page 17

Ongar and District Community Association Detailed Statement of Financial Activities

Depreciation of Furniture. fixtures and equipment General insurances Postage and couriers Stationery and printing Subscriptions Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Consultancy fees Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	718 6,523 18 239 709 643 8,850 2,977 1,279 4,256 40,635 40,635 - 961 961 - 961 123,417 124,378	- - - - - - - - 1,279 1,279 1,279 1,279 - (1,279) (1,279) - (1,279) 36,964 35,685	718 6,523 18 239 709 643 8,850 2,977 2,558 5,535 41,914 41,914 - (318) (318) - (318) 160,381 160,063	844 5,501 - 538 396 703
				7,982
				2,085 -
				2,085

				34,040
				34,040 -
				(2,498)
				(2,498) -
				(2,498)
				162,879
				160,381

Page 18