**CLUB REGISTRATION NUMBER 271139** 

## **CRANHAM COMMUNITY ASSOCIATION FINANCIAL STATEMENTS** 

**31 DECEMBER 2024** 

## **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 2024** 

The Management  Committee has pleasure  in  presenting its report  and  the unaudited financial statements of the club for the year ended 31 December 2024. 

## **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. 

During the period under review, income streams remained fairly constant with total income falling by 1.6% to £125,397 from £127,257 in 2023. Due to the financial pressures on most households throughout the year, the trustees consider this be a good result. A full analysis of the various income streams can be found on page 9 of the accounts. 

Of the income generated in the year, Room Hire continued to be the largest income source accounting for £96,338 (77%) of the self generated income compared to £88,097 (69%) last year. 

General overheads increased this year by just £1,935 to £123,297 from £121,362 in 2023. An increase in staffing costs was more or less offset by a reduction of just over £7,000 in Lighting and Heating Costs. 

Overall, there was a surplus for the year of £2,100 compared to £5,895 last year. The cash and bank reserves were still healthy at the year end and stood at £18,453. 

The council have unfortunately applied a rent review which has been back dated to June 2018 which has been particularly unhelpful. The back dated rent increase covering the period 24th June 2018 to 24th March 2024 totalled £9,073.83 and although the council were looking for payment in full, the trustees negotiated a payment plan for the arrears of £500 per quarter which therefore spreads the payment over nearly 5 years. 

Registered office: Marlborough Gardens Cranham Upminster Essex RM14 1SR 

Signed on behalf of the trustees 

E Beasley Chairperson 

Approved by the Management Committee on 13 May 2025 

**- 1 -** 



## **CRANHAM COMMUNITY ASSOCIATION** 

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

## **YEAR ENDED 31 DECEMBER 2024** 

As described on the balance sheet, you are responsible for the preparation of the financial statements for the year ended 31 December 2024. 

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 13 May 2025 and are signed on their behalf by: 

E Beasley Chairperson 

**- 2 -** 



## **CRANHAM COMMUNITY ASSOCIATION** 

## **PROFIT AND LOSS ACCOUNT** 

## **YEAR ENDED 31 DECEMBER 2024** 

|||**2024**|2023|
|---|---|---|---|
||**Note**|**£**|£|
|**REVENUE**||**125,397**|127,257|
|Administrative expenses||**123,297**|121,362|
|||-------------------------------------|-------------------------------------|
|**PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION**||**2,100**|5,895|
|||--------------------------|--------------------------|
|**PROFIT FOR THE FINANCIAL YEAR**||**2,100**|5,895|
|Balance brought forward||**24,262**|18,367|
|||-------------------------------|-------------------------------|
|Balance carried forward||**26,362**|24,262|
|||=======================<br>=======================||
|||========|========|



**- 3 -** 



## **CRANHAM COMMUNITY ASSOCIATION** 

## **BALANCE SHEET** 

## **31 DECEMBER 2024** 

||||**2024**||2023|
|---|---|---|---|---|---|
||**Note**|**£**|**£**||£|
|**FIXED ASSETS**||||||
|Tangible assets|**3**||**10,759**||14,346|
||||-------------------------------||-------------------------------|
|**CURRENT ASSETS**||||||
|Stocks||**150**|||150|
|Debtors|**4**||**4,728**||4,250|
|Cash at bank and in hand|||**18,453**||8,456|
|||-------------------------------|||-------------------------------|
||||**23,331**||12,856|
|**CREDITORS: Amounts falling due within one**||||||
|**year**|**5**||**7,728**||2,940|
|||-------------------------------|||-------------------------------|
|**NET CURRENT ASSETS**|||**15,603**||9,916|
||||-------------------------------||-------------------------------|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**|||**26,362**||24,262|
||||=======================|=======================||
||||========||========|
|**CAPITAL AND RESERVES**||||||
|Profit and loss account|||**26,362**||24,262|
||||-------------------------------||-------------------------------|
|**MEMBERS' FUNDS**|||**26,362**||24,262|
||||=======================|=======================||
||||========||========|



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 13 May 2025 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 2024** 

## **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 2024** 

## **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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2024 2023<br>£ £<br>3,587 4,783<br>======================= =======================<br>=== ===<br>**----- End of picture text -----**<br>


**- 6 -** 



## **CRANHAM COMMUNITY ASSOCIATION** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 DECEMBER 2024** 

## **3. TANGIBLE ASSETS** 

|**TANGIBLE ASSETS**||||||||||
|---|---|---|---|---|---|---|---|---|---|
||**Leasehold**||**Centre**|**Fixtures &**|||**Office**|||
||**Property**|**Equipment**|||**Fittings**|**Equipment**|||**Total**|
||**£**||**£**||**£**||**£**||**£**|
|**COST**||||||||||
|**At 1 January 2024 and**||||||||||
|**31 December 2024**|**8,026**||**12,538**||**31,188**||**1,953**||**53,705**|
||=======================|=======================||=======================||=======================||=======================||
||===||========||========||===||========|
|**DEPRECIATION**||||||||||
|At 1 January 2024|**7,883**||**5,220**||**24,318**||**1,938**||**39,359**|
|Charge for the year|**36**||**1,829**||**1,718**||**4**||**3,587**|
||--------------------------||--------------------------||-------------------------------||--------------------------||-------------------------------|
|**At 31 December 2024**|**7,919**||**7,049**||**26,036**||**1,942**||**42,946**|
||=======================|=======================||=======================||=======================||=======================||
||===||===||========||===||========|
|**NET BOOK VALUE**||||||||||
|**At 31 December 2024**|**107**||**5,489**||**5,152**||**11**||**10,759**|
|||=======================||=======================||||=======================||
||================||===||===||================||========|
|At 31 December 2023|143||7,318||6,870||15||14,346|
|||=======================||=======================||||=======================||
||================||===||===||================||========|
|**DEBTORS**||||||||||
||||||||**2024**||2023|
||||||||**£**||£|
|Prepaid Expenses|||||||**4,728**||4,250|
|||||||=======================||=======================||
||||||||===||===|
|**CREDITORS:** **Amounts falling due within**|||**one year**|||||||
||||||||**2024**||2023|
||||||||**£**||£|
|Creditors & Accruals|||||||**7,728**||2,940|
|||||||=======================||=======================||
||||||||===||===|



## **4. DEBTORS** 

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

**- 7 -** 



## **CRANHAM COMMUNITY ASSOCIATION** 

## **MANAGEMENT INFORMATION** 

## **YEAR ENDED 31 DECEMBER 2024** 

**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 2024** 

||||**2024**||2023|
|---|---|---|---|---|---|
||**Note**|**£**|**£**||£|
|**REVENUE**||||||
|Membership subscriptions|||**2,499**||1,780|
|Scrabble, darts, keep fit & games etc|||**5,767**||5,029|
|Dances|||**7,014**||7,931|
|Bowls fees|||**5,174**||5,006|
|Coffee bar|||**3,933**||3,533|
|Room hire|||**96,338**||88,097|
|Donations & gifts|||**3,924**||15,202|
|Photocopier|||**28**||47|
|Pop up|||**720**||632|
||||-------------------------------------||-------------------------------------|
||||**125,397**||127,257|
|**OVERHEADS**||||||
|Wages, salaries, PAYE & pension costs|||**49,331**||42,887|
|Rent|||**18,308**||17,000|
|Rates & water|||**2,333**||1,874|
|Light & heat|||**11,867**||19,086|
|Insurance||**987**|||782|
|Repairs & maintenance|||**10,124**||12,138|
|Locking up|||**3,586**||3,482|
|Laundry & cleaning|||**12,487**||10,780|
|Telephone|||**2,280**||1,330|
|Printing, stationery & postage||**749**|||630|
|Centre equipment|||**3,226**||843|
|Tutoring|||**–**||1,160|
|Sundry expenses|||**1,432**||1,647|
|Accountancy fees|||**3,000**||2,940|
|Depreciation|||**3,587**||4,783|
|||-------------------------------------|||-------------------------------------|
||||**123,297**||121,362|
||||-------------------------------------||-------------------------------------|
|**PROFIT ON ORDINARY ACTIVITIES**|||**2,100**||5,895|
||||=======================|=======================||
||||==============||==============|



**- 9 -**