**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
**- 1 -**
## **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
**- 2 -**
## **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|
||==============|==============|
||==============|==============|
||===|===|
**- 3 -**
## **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
**- 4 -**
**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 ============== ============== == ============
**- 5 -**
## **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**
**- 6 -**
## **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** .
**- 7 -**
## **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|
||==============|==============|
||==============|==============|
||===|===|
**- 8 -**