**CLUB REGISTRATION NUMBER 271139** 

## **CRANHAM COMMUNITY ASSOCIATION FINANCIAL STATEMENTS** 

**31 DECEMBER 2022** 

## **BROWN & CO LLP** 

Accountants 2 Lords Court Cricketers Way Basildon Essex SS13 1SS 



## **CRANHAM COMMUNITY ASSOCIATION** 

## **THE REPORT OF THE MANAGEMENT COMMITTEE** 

## **YEAR ENDED 31 DECEMBER 2022** 

The Management  Committee has pleasure  in  presenting its report  and  the unaudited financial statements of the club for the year ended 31 December 2022. 

## **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. 

Following the prolonged shut downs due to the Covid restrictions which reduced income for both 2020 & 2021, income increased in 2022 by 45% to £105,987 from 72,960 in 2021. 

Of the income generated in the year, Room Hire continued to be the largest income source accounting for 76,413 (72%) of the self generated income compared to £43,326 (59%) last year. 

General overheads increased this year by £17,836 (24%) with the main increases being in staffing costs, up £10,038 to £41,907, and also Light & heat as would be expected in the current climate which increased by £3,244 (88%) to £6,917. 

Overall, there was a surplus for the year of £13,412 compared to a deficit in 2021 of £1,779. The cash and bank reserves were very healthy at the year end and stood at £14,795 compared to £5,773 and this is despite spending approximately £6,500 on furniture. trolleys and new blinds in the year. 

Registered office: Signed on behalf of the trustees Marlborough Gardens Cranham Upminster Essex RM14 1SR 

E Beasley Chairperson 

Approved by the Management Committee on 30 May 2023 

**- 1 -** 



## **CRANHAM COMMUNITY ASSOCIATION** 

## **ACCOUNTANTS' REPORT TO THE MANAGEMENT COMMITTEE OF CRANHAM COMMUNITY ASSOCIATION** 

## **YEAR ENDED 31 DECEMBER 2022** 

As described on the balance sheet, you are responsible for the preparation of the financial statements for the year ended 31 December 2022. 

You consider that the club is exempt from an audit under the Co-operative and Community Benefit Societies Act 2014. 

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 Accountants 

2 Lords Court Cricketers Way Basildon Essex SS13 1SS 30 May 2023 

These financial statements were approved by the Management Committee and authorised for issue on the 30 May 2023 and are signed on their behalf by: 

E Beasley Chairperson 

**- 2 -** 



## **CRANHAM COMMUNITY ASSOCIATION** 

## **PROFIT AND LOSS ACCOUNT** 

## **YEAR ENDED 31 DECEMBER 2022** 

|||**2022**|2021|
|---|---|---|---|
||**Note**|**£**|£|
|**REVENUE**||**105,987**|72,960|
|Administrative expenses||**92,575**|74,739|
|||-------------------------------------|-------------------------------|
|**PROFIT/(LOSS) ON ORDINARY ACTIVITIES BEFORE**||||
|**TAXATION**||**13,412**|(1,779)|
|||-------------------------------|--------------------------|
|**PROFIT/(LOSS) FOR THE FINANCIAL YEAR**||**13,412**|(1,779)|
|Balance brought forward||**4,955**|6,734|
|||-------------------------------|--------------------------|
|Balance carried forward||**18,367**|4,955|
|||=======================<br>=======================||
|||========|===|



**- 3 -** 



## **CRANHAM COMMUNITY ASSOCIATION** 

## **BALANCE SHEET** 

## **31 DECEMBER 2022** 

||||**2022**||2021|
|---|---|---|---|---|---|
||**Note**|**£**|**£**||£|
|**FIXED ASSETS**||||||
|Tangible assets|**3**||**6,322**||1,782|
||||--------------------------||--------------------------|
|**CURRENT ASSETS**||||||
|Stocks|||**70**||100|
|Cash at bank and in hand|||**14,795**||5,773|
|||-------------------------------|||--------------------------|
||||**14,865**||5,873|
|**CREDITORS: Amounts falling due within one**||||||
|**year**|**4**||**2,820**||2,700|
|||-------------------------------|||--------------------------|
|**NET CURRENT ASSETS**|||**12,045**||3,173|
||||-------------------------------||--------------------------|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**|||**18,367**||4,955|
||||=======================|=======================||
||||========||===|
|**CAPITAL AND RESERVES**||||||
|Profit and loss account|||**18,367**||4,955|
||||-------------------------------||--------------------------|
|**MEMBERS' FUNDS**|||**18,367**||4,955|
||||=======================|=======================||
||||========||===|



The trustees of the Management Committee acknowledge their responsibilities for: 

(i) ensuring that the club keeps proper accounting records which comply with sections 75 and 76 of the Co-operative and Community Benefit Societies Act 2014 (the Act), 

(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 sections 75 and 76 of the Act, and 

(iii) preparing financial statements which give a true and fair view of the state of affairs of the club as at the end of the financial year and of its profit for the financial year in accordance with the requirements of section 80, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the club. 

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 Management Committee and authorised for issue on the 30 May 2023 and are signed on their behalf by: 

E Beasley Chairperson 

Club Registration Number: 271139 

**- 4 -** 



**CRANHAM COMMUNITY ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 DECEMBER 2022** 

## **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 club 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. 

## **Operating lease agreements** 

Rentals  applicable to operating leases  where  substantially  all of the benefits and risks  of ownership remain  with the lessor are charged against profits on a straight line basis over the period of the lease. 

**- 5 -** 



## **CRANHAM COMMUNITY ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 DECEMBER 2022** 

## **1. ACCOUNTING POLICIES** _**(continued)**_ 

## **Financial instruments** 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. 

Where  the  contractual  obligations  of  financial  instruments  (including  share  capital)  are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial  liabilities are presented as such in the  Balance sheet.  Finance costs and gains or losses relating to financial liabilities are included in the  Profit and Loss Account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. 

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. 

## **2. OPERATING PROFIT/(LOSS)** 

Operating profit/(loss) is stated after charging: 

Depreciation of owned fixed assets 


**----- Start of picture text -----**<br>
2022 2021<br>£ £<br>2,106 593<br>=======================<br>=== ================<br>**----- End of picture text -----**<br>


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## **CRANHAM COMMUNITY ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 DECEMBER 2022** 

## **3. TANGIBLE ASSETS** 

||**Leasehold**||**Centre**|**Fixtures &**|**Fixtures &**||**Office**|||
|---|---|---|---|---|---|---|---|---|---|
||**Property**|**Equipment**|||**Fittings**|**Equipment**|||**Total**|
||**£**||**£**||**£**||**£**||**£**|
|**COST**||||||||||
|At 1 January 2022|**8,026**||**3,231**||**21,042**||**1,953**||**34,252**|
|Additions|**–**||**–**||**6,646**||**–**||**6,646**|
||--------------------------||--------------------------||-------------------------------||--------------------------||-------------------------------|
|**At 31 December 2022**|**8,026**||**3,231**||**27,688**||**1,953**||**40,898**|
||=======================|=======================||=======================||=======================||=======================||
||===||===||========||===||========|
|**DEPRECIATION**||||||||||
|At 1 January 2022|<br>**7,772**||**2,630**||**20,142**||**1,926**||**32,470**|
|Charge for the year|**63**||**150**||**1,886**||**7**||**2,106**|
||--------------------------||--------------------------||-------------------------------||--------------------------||-------------------------------|
|**At 31 December 2022**|**7,835**||**2,780**||**22,028**||**1,933**||**34,576**|
||=======================|=======================||=======================||=======================||=======================||
||===||===||========||===||========|
|**NET BOOK VALUE**||||||||||
|**At 31 December 2022**|**191**||**451**||**5,660**||**20**||**6,322**|
|||||=======================||||=======================||
||================||================||===||================||===|
|At 31 December 2021|254||601||900||27||1,782|
|||||||||=======================||
||================||================||================||================||===|



## **4. CREDITORS: Amounts falling due within one year** 

||**2022**||2021|
|---|---|---|---|
||**£**||£|
|Other creditors|**2,820**||2,700|
||=======================|=======================||
||===||===|



**- 7 -** 



## **CRANHAM COMMUNITY ASSOCIATION** 

## **MANAGEMENT INFORMATION** 

## **YEAR ENDED 31 DECEMBER 2022** 

**The following pages do not form part of the statutory financial statements which are the subject of the accountants' report on page22222** . 

**- 8 -** 



## **CRANHAM COMMUNITY ASSOCIATION** 

## **DETAILED PROFIT AND LOSS ACCOUNT** 

## **YEAR ENDED 31 DECEMBER 2022** 

||||**2022**||2021|
|---|---|---|---|---|---|
||**Note**|**£**|**£**||£|
|**REVENUE**||||||
|Membership subscriptions|||**3,260**||2,926|
|Scrabble, darts, keep fit, karate & games etc|||**2,362**||366|
|Dances|||**4,700**||–|
|Bowls subscriptions|||**3,265**||1,108|
|Coffee bar|||**2,095**||341|
|Room hire|||**76,413**||43,326|
|Donations & gifts|||**13,870**||14,895|
|Photocopier & telephone|||**22**||–|
|Government covid grant|||**–**||9,998|
||||-------------------------------------||-------------------------------|
||||**105,987**||72,960|
|**OVERHEADS**||||||
|Wages and salaries|||**41,907**||31,869|
|Rent|||**17,000**||17,000|
|Rates and water||**378**|||1,680|
|Light and heat|||**6,917**||3,673|
|Insurance||**739**|||722|
|Repairs and maintenance (allowable)|||**8,624**||9,098|
|Laundry & cleaning|||**8,650**||5,182|
|Telephone|||**1,185**||1,541|
|Printing, stationery and postage|||**1,264**||491|
|Sundry expenses||**985**|||130|
|Accountancy fees|||**2,820**||2,760|
|Depreciation|||**2,106**||593|
|||-------------------------------|||-------------------------------|
||||**92,575**||74,739|
||||-------------------------------||-------------------------------|
|**PROFIT/(LOSS) ON ORDINARY ACTIVITIES**|||**13,412**||(1,779)|
||||=======================|=======================||
||||========||========|



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