**CLUB REGISTRATION NUMBER 271139**
## **CRANHAM COMMUNITY ASSOCIATION FINANCIAL STATEMENTS**
**31 DECEMBER 2023**
## **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 2023**
The Management Committee has pleasure in presenting its report and the unaudited financial statements of the club for the year ended 31 December 2023.
## **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.
Income increased significantly once again following the "Covid years" and for 2023 total income increased by 20% to £127,257 from £105,987 for 2022.
Of the income generated in the year, Room Hire continued to be the largest income source accounting for £88,097 (69%) of the self generated income compared to £76,413 (72%) last year.
General overheads increased this year by £28,787 (31%) with the most significant increase being in light & heat costs which increased 175% to £19,086 from £6,917 due to the exceptional economic circumstances of the year. It is anticipated that these will fall for the year to December 2024. The other significant increase was in Repairs & Maintenance where costs increased by 81% to £15,620 from £8,624.
Overall, despite the cost increases detailed above, there was a surplus for the year of £5,895 compared to £13,412 for 2022. The cash and bank reserves remained healthy and at the year end and stood at £8,456 compared to £14,795 for 2022.
Registered office: Signed on behalf of the trustees Marlborough Gardens Cranham Upminster Essex RM14 1SR
E Beasley Chairperson
Approved by the Management Committee on 10 May 2024
**- 1 -**
## **CRANHAM COMMUNITY ASSOCIATION**
## **ACCOUNTANTS' REPORT TO THE MANAGEMENT COMMITTEE OF CRANHAM COMMUNITY ASSOCIATION**
## **YEAR ENDED 31 DECEMBER 2023**
As described on the balance sheet, you are responsible for the preparation of the financial statements for the year ended 31 December 2023.
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
........................
These financial statements were approved by the Management Committee and authorised for issue on the 10 May 2024 and are signed on their behalf by:
E Beasley Chairperson
**- 2 -**
## **CRANHAM COMMUNITY ASSOCIATION**
## **PROFIT AND LOSS ACCOUNT**
## **YEAR ENDED 31 DECEMBER 2023**
|||**2023**|2022|
|---|---|---|---|
||**Note**|**£**|£|
|**REVENUE**||**127,257**|105,987|
|Administrative expenses||**121,362**|92,575|
|||`──────────`|`──────────`|
|**PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION**||**5,895**|13,412|
|||`───────`|`─────────`|
|**PROFIT FOR THE FINANCIAL YEAR**||**5,895**|13,412|
|Balance brought forward||**18,367**|4,955|
|||`─────────`|`─────────`|
|Balance carried forward||**24,262**|18,367|
|||`═════════`|`═════════`|
**- 3 -**
## **CRANHAM COMMUNITY ASSOCIATION**
## **BALANCE SHEET**
## **31 DECEMBER 2023**
|||**2023**||2022|
|---|---|---|---|---|
||**Note**|**£**|**£**|£|
|**FIXED ASSETS**|||||
|Tangible assets|**3**||**14,346**|6,322|
||||`─────────`|`───────`|
|**CURRENT ASSETS**|||||
|Stocks||**150**||70|
|Debtors|**4**|**4,250**||–|
|Cash at bank and in hand||**8,456**||14,795|
|||`─────────`||`─────────`|
|||**12,856**||14,865|
|**CREDITORS: Amounts falling due within one**|||||
|**year**|**5**|**2,940**||2,820|
|||`─────────`||`─────────`|
|**NET CURRENT ASSETS**|||**9,916**|12,045|
||||`─────────`|`─────────`|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**|||**24,262**|18,367|
||||`═════════`|`═════════`|
|**CAPITAL AND RESERVES**|||||
|Share capital|**7**||**–**|–|
|Profit and loss account|||**24,262**|18,367|
||||`─────────`|`─────────`|
|**MEMBERS' FUNDS**|||**24,262**|18,367|
||||`═════════`|`═════════`|
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 10 May 2024 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 2023**
## **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 Equipmenty 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 2023**
## **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**
Operating profit is stated after charging:
Depreciation of owned fixed assets
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2023 2022
£ £
4,783 2,106
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**- 6 -**
## **CRANHAM COMMUNITY ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2023**
## **3. TANGIBLE ASSETS**
|||**Leasehold**||**Centre**|**Fixtures &**|**Fixtures &**||**Office**||
|---|---|---|---|---|---|---|---|---|---|
|||**Property**|**Equipment**|||**Fittings**|**Equipment**||**Total**|
|||**£**||**£**||**£**||**£**|**£**|
||**COST**|||||||||
||At 1 January 2023|**8,026**||**3,231**||**27,688**||**1,953**|**40,898**|
||Additions|**–**||**9,307**||**3,500**||**–**|**12,807**|
|||`───────`||`─────────`||`─────────`||`───────`|`─────────`|
||**At 31 December 2023**|**8,026**||**12,538**||**31,188**||**1,953**|**53,705**|
|||`═══════`||`═════════`||`═════════`||`═══════`|`═════════`|
||**DEPRECIATION**|||||||||
||At 1 January 2023|**7,835**||**2,780**||**22,028**||**1,933**|**34,576**|
||Charge for the year|**48**||**2,440**||**2,290**||**5**|**4,783**|
|||`───────`||`───────`||`─────────`||`───────`|`─────────`|
||**At 31 December 2023**|**7,883**||**5,220**||**24,318**||**1,938**|**39,359**|
|||`═══════`||`═══════`||`═════════`||`═══════`|`═════════`|
||**NET BOOK VALUE**|||||||||
||**At 31 December 2023**|**143**||**7,318**||**6,870**||**15**|**14,346**|
|||`════`||`═══════`||`═══════`||`════`|`═════════`|
||At 31 December 2022|191||451||5,660||20|6,322|
|||`════`||`════`||`═══════`||`════`|`═══════`|
|**4.**|**DEBTORS**|||||||||
|||||||||**2023**|2022|
|||||||||**£**|£|
||Prepaid Expenses|||||||**4,250**|–|
|||||||||`═══════`|`════`|
|**5.**|**CREDITORS:** **Amounts**|**falling due within**||**one year**||||||
|||||||||**2023**|2022|
|||||||||**£**|£|
||Accrued Expenses|||||||**2,940**|2,820|
|||||||||`═══════`|`═══════`|
**- 7 -**
## **CRANHAM COMMUNITY ASSOCIATION**
## **MANAGEMENT INFORMATION**
## **YEAR ENDED 31 DECEMBER 2023**
**The following pages do not form part of the statutory financial statements which are the subject of the accountants' report on page 2** .
**- 8 -**
## **CRANHAM COMMUNITY ASSOCIATION**
## **DETAILED PROFIT AND LOSS ACCOUNT**
## **YEAR ENDED 31 DECEMBER 2023**
|||**2023**||2022|
|---|---|---|---|---|
||**Note**|**£**|**£**|£|
|**REVENUE**|||||
|Membership subscriptions|||**1,780**|3,260|
|Scrabble, darts, keep fit, karate & games etc|||**5,029**|2,362|
|Dances|||**7,931**|4,700|
|Bowls subscriptions|||**5,006**|3,265|
|Coffee bar|||**3,533**|2,095|
|Room hire|||**88,097**|76,413|
|Donations & gifts|||**15,202**|13,870|
|Photocopier & telephone|||**47**|22|
|Pop up|||**632**|–|
||||`──────────`|`──────────`|
||||**127,257**|105,987|
|**OVERHEADS**|||||
|Wages and salaries||**42,887**||41,907|
|Rent||**17,000**||17,000|
|Rates and water||**1,874**||378|
|Light and heat||**19,086**||6,917|
|Insurance||**782**||739|
|Repairs and maintenance||**15,620**||8,624|
|Laundry & cleaning||**10,780**||8,650|
|Telephone||**1,330**||1,185|
|Printing, stationery and postage||**1,473**||1,264|
|Tutoring||**1,160**||–|
|Sundry expenses||**1,647**||985|
|Accountancy fees||**2,940**||2,820|
|Depreciation||**4,783**||2,106|
|||`──────────`||`─────────`|
||||**121,362**|92,575|
||||`──────────`|`─────────`|
|**PROFIT ON ORDINARY ACTIVITIES**|||**5,895**|13,412|
||||`══════════`|`═════════`|
**- 9 -**