CHARITY NUMBER 271139
CRANHAM COMMUNITY ASSOCIATION FINANCIAL STATEMENTS
31 DECEMBER 2020
BROWN & CO LLP
Chartered Accountants
2 Lords Court Cricketers Way Basildon Essex SS13 1SS
CRANHAM COMMUNITY ASSOCIATION
THE REPORT OF THE TRUSTEES
YEAR ENDED 31 DECEMBER 2020
The trustees have pleasure in presenting their report and the unaudited financial statements for the year ended 31 December 2020.
PRINCIPAL ACTIVITIES AND OPERATIONAL REVIEW
The principal activity of the charity is the provision of a variety of educational and recreational activities to the inhabitants of Cranham Ward and its neighbourhood.
As expected, the prolonged shut down due to the Covid restrictions resulted in a substantial reduction in income for the year. Income generated by the association reduced from £93,629 in 2019 to £29,777 for the year ended 31st December 2020 although this reduction of £63,852 was partially offset by a Covid support grant of £25,000.
Of the income generated in the year, Room Hire continued to be the largest income source accounting for 91% of the self-generated income. With the impending release of the bulk of the remaining Covid restrictions it is anticipated that income levels should now start to increase but would not return to normal levels until the year ended December 2022.
General overheads also fell in the year with total costs amounting to £61,337 compared to £91,942 for 2020. It is anticipated that expenses will remain slightly less than usual in 2021 when again returning to previous levels in 2022.
Despite the restrictions, there was only a small loss for the year of £6,560 compared to a surplus in 2019 of £1,687. Considering there was a reduction of 68% in generated income, this must be considered a very satisfactory result. The loss is reflected in the bank account at the year end which fell from £10,211 at the beginning of the year to £4,437 at December 2020.
Signed on behalf of the trustees
Marlborough Gardens Cranham Upminster Essex RM14 1SR
M Grote Chairman
Approved by the Trustees on 19 July 2021
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CRANHAM COMMUNITY ASSOCIATION
ACCOUNTANTS' REPORT TO THE TRUSTEES OF CRANHAM COMMUNITY ASSOCIATION
YEAR ENDED 31 DECEMBER 2020
As described on the balance sheet, you are responsible for the preparation of the financial statements for the year ended 31 December 2020.
You consider that the charity is exempt from an audit under the Charities Act.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
BROWN & CO LLP Chartered Accountants
2 Lords Court Cricketers Way Basildon Essex SS13 1SS
19 July 2021
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CRANHAM COMMUNITY ASSOCIATION
PROFIT AND LOSS ACCOUNT
YEAR ENDED 31 DECEMBER 2020
| 2020 | 2019 | |
|---|---|---|
| Note | £ | £ |
| INCOMING REVENUE | 54,777 | 93,629 |
| Administrative expenses | 61,337 | 91,942 |
| ------------------------------- | ------------------------------- | |
| (DEFICIT)/SURPLUS ON ORDINARY ACTIVITIES | (6,560) | 1,687 |
| -------------------------- | -------------------------- | |
| (DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR | (6,560) | 1,687 |
| Surplus brought forward | 13,294 | 11,607 |
| ------------------------------- | ------------------------------- | |
| Surplus carried forward | 6,734 | 13,294 |
| ============== | ============== | |
| ============== | ============== | |
| === | === |
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CRANHAM COMMUNITY ASSOCIATION
BALANCE SHEET
31 DECEMBER 2020
| 2020 | 2020 | 2019 | ||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| FIXED ASSETS | ||||
| Tangible assets | 3 | 2,375 | 3,167 | |
| -------------------------- | -------------------------- | |||
| CURRENT ASSETS | ||||
| Stocks | 100 | 100 | ||
| Cash at bank and in hand | 6,839 | 12,607 | ||
| -------------------------- | ------------------------------- | |||
| 6,939 | 12,707 | |||
| CREDITORS: Amounts falling due | ||||
| within one year | 4 | 2,580 | 2,580 | |
| -------------------------- | ------------------------------- | |||
| NET CURRENT ASSETS | 4,359 | 10,127 | ||
| -------------------------- | ------------------------------- | |||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 6,734 | 13,294 | ||
| ============== | ||||
| ============== | ============== | |||
| ============ | === | |||
| CAPITAL AND RESERVES | ||||
| Proft and loss account | 6,734 | 13,294 | ||
| -------------------------- | ------------------------------- | |||
| FUNDS CARRIED FORWARD | 6,734 | 13,294 | ||
| ============== | ||||
| ============== | ============== | |||
| ============ | === |
The trustees acknowledge their responsibilities for:
(i) ensuring that the association keeps proper accounting records which comply with the relevant legislation,
(ii) establishing and maintaining a satisfactory system of its books of accounts, its cash holdings and all its receipts and remittances in order to comply with the legislation, and
(iii) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its surplus/deficit for the financial year.
These accounts have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
These financial statements were approved by the Trustees and authorised for issue on the 19 July 2021 and are signed on their behalf by:
M Grote Chairman
Registration Number: 271139
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CRANHAM COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Cash flow statement
The Management Committee has taken advantage of the exemption in Financial Reporting Standard for Smaller Entities (effective April 2008) from including a Cash flow statement in the financial statements on the grounds that the charity is small.
Turnover
Turnover represents monies received from various sources and activities generated by the association.
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Property Improvements - 25% Net Book Value Centre Equipment - 25% Net Book Value Fixtures & Fittings - 25% Net Book Value Office Equipment - 25% Net Book Value
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2. OPERATING (DEFICIT)/SURPLUS
Operating (deficit)/surplus is stated after charging:
2020 2019 £ £ Trustees' remuneration – – Depreciation of owned fixed assets 792 1,056 ============== ============== == ============
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CRANHAM COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
3. TANGIBLE ASSETS
| Leasehol | Centre | Fixtures | Ofice | ||
|---|---|---|---|---|---|
| d | Equipme | & | Equipme | ||
| Property | nt | Fittings | nt | Total | |
| £ | £ | £ | £ | £ | |
| COST | |||||
| At | |||||
| 1 January 2020 | |||||
| and | |||||
| 31 December 202 | |||||
| 0 | 8,026 | 3,231 | 21,042 | 1,953 | 34,252 |
| ============== | ============== | ||||
| ============== | ============== | ============== | ============== | ============== | |
| ============ | ============ | === | ============ | === | |
| DEPRECIATION | |||||
| At 1 January 2020 | 7,574 | 2,163 | 19,442 | 1,906 | 31,085 |
| Charge for the | |||||
| year | 113 | 267 | 400 | 12 | 792 |
| -------------------------- | -------------------------- | ------------------------------- | -------------------------- | ------------------------------- | |
| At | |||||
| 31 December 202 | |||||
| 0 | 7,687 | 2,430 | 19,842 | 1,918 | 31,877 |
| ============== | ============== | ||||
| ============== | ============== | ============== | ============== | ============== | |
| ============ | ============ | === | ============ | === | |
| NET BOOK VALUE | |||||
| At | |||||
| 31 December 202 | |||||
| 0 | 339 | 801 | 1,200 | 35 | 2,375 |
| ============== | ============== | ============== | ============== | ============== | |
| == | == | ============ | == | ============ | |
| At | |||||
| 31 December 2019 | 452 | 1,068 | 1,600 | 47 | 3,167 |
| ============== | ============== | ============== | ============== | ============== | |
| == | ============ | ============ | == | ============ | |
| CREDITORS: Amounts falling due within one year | |||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Accrued Expenses | 2,580 | 2,580 | |||
| ============== | ============== | ||||
| ============ | ============ |
4. CREDITORS: Amounts falling due within one year
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CRANHAM COMMUNITY ASSOCIATION
MANAGEMENT INFORMATION
YEAR ENDED 31 DECEMBER 2020
The following pages do not form part of the statutory financial statements
which are the subject of the accountants' report on page22222 .
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CRANHAM COMMUNITY ASSOCIATION
DETAILED PROFIT AND LOSS ACCOUNT
YEAR ENDED 31 DECEMBER 2020
| 2020 | 2019 | |
|---|---|---|
| Note | £ £ |
£ |
| REVENUE | ||
| Membership subscriptions | 12 | 6,095 |
| Scrabble, darts, keep ft, karate & games | ||
| etc | 916 | 2,689 |
| Dances | – | 5,463 |
| Bowls subscriptions | 673 | 3,881 |
| Cofee bar | 323 | 2,032 |
| Room hire | 27,243 | 64,474 |
| Donations & gifts | 610 | 8,791 |
| Photocopier & telephone | – | 204 |
| Government covid grant | 25,000 | – |
| ------------------------------- | ------------------------------- | |
| 54,777 | 93,629 | |
| OVERHEADS | ||
| Wages and salaries | 22,038 | 32,920 |
| Rent | 12,750 | 17,000 |
| Rates and water | 1,840 | 1,760 |
| Light and heat | 5,315 | 8,770 |
| Insurance | 656 | 656 |
| Repairs and maintenance | 8,444 | 16,544 |
| Laundry & cleaning | 3,342 | 7,918 |
| Telephone | 986 | 1,241 |
| Printing, stationery and postage | 2,442 | 945 |
| Garden 2000 project & library | – | 61 |
| Cofee bar supplies | 92 | 491 |
| Accountancy fees | 2,640 | 2,580 |
| Depreciation | 792 | 1,056 |
| ------------------------------- | ------------------------------- | |
| 61,337 | 91,942 | |
| ------------------------------- | ------------------------------- | |
| (DEFICIT)/SURPLUS ON ORDINARY ACTIVITIES (6,560) |
1,687 | |
| ============== | ============== | |
| ============== | ============== | |
| === | === |
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