South Grove Community Association Charlty No. 272798 Trustees. Report and Unaudited Accounts 31 March 2025 South Grove Community Association Contents Pages Trustees, Annual Report Independent Examiner'5 Report Statement of Financial Activities 2to4 Balance Sheet Notes to the Accounts 8t014 Page I South Grove Community Association Trustees Annual Report The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2025. REFERENCE AND ADMINISTRATIVE DETAILS Charity No. 272798 Principal Office South Grove Community Centre Grove Street Woodston Peterborough PE2 9AG Trustees The following trustees served during the year: l. Barry M. Heaney N. Thulbourn Key Management Personnel Chair.. Alan Daliday Tina Stockhill Secretary.. Treasurer.. Margaret Thulbourn Accountants Mason & Co 6 The Old Quarry Nene Valley Business Park Oundle Peterborough PE84HN Bankers Barclays Bank PIC Peterborough Business Centre PO Box 294 Peterborough PEI IEX OBJECTIVES AND ACTIVITIES Objectives and aims The object of the Charity is to establish and improve the conditions of life for the inhabitants of Woodston and Fletton IPeterboroughl as defined on a map contained in the constitution and known as thee 'area of benefit" This is achieved by advancing education, providing recreation and leisure facilities and promoting charitable purposes. Page 2 South Grove Community Association Trustees Annual Report The community centre is available for hire by an individual or organisation in accordance with the standard hiring agreement and scale of charges adopted for the year. It is intended that the scale of charges, together with the income from the bar facilities be sufficient to generate enough income to meet all expenditure incurred in providing the centre. Community projects are funded by specific appeals, funding and grants. Public Benefit The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit,'Charities and public Benefit,. The community centre is utilised by all sectors of the community. The management Committee is always open to 2nd welcomes any new init13tives. ACHIEVEMENTS AND PERFORMANCE Charitable activities The attached financial statements show the current state of the Association's finances which the Trustees consider to be sound. The centre is utilised by all sectors of our community but we are always open to and welcome new initiatives. PLANS FOR FUTURE PERIODS During the coming year the Association is continuing to improve its accounting systems and to seek new sources of funding. The Trustee's are actively seeking long term solution to the property. STRucfuRE, GOVERNANCE AND MANAGEMENT Governing Document The South Grove Community Association is registered was established by a constitution adopted on 13 December 1976 and amended and approved on 27 June 1997. Organisational structure The Charity is organised as an independent association of local residents with a Management Committee compromising elected and nominated members. Activities include the provision of the community centre as a permanent facility and a variety of community groups and projects including bingo, karate ect. The Management Committee are elected on an annual basis with the Officers being elected first. The annual general meetin8 is usually held in June. The Charity relies primarily on volunteers but does have several paid part-time staff. Including a Centre Manager, Bar Staff and Cleaners. Statement of trustees, responsibilities in relation to the financial statement5 The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Art 2011, the applicable Charities IAccounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 3 South Grove Community A550ciation Trustees Annual Report Signed on behalf of the charity's trustee5 N. Thulboum Trustee 14 July 2025 Page 4 South Grove Community Association IrKlependent Examiners Report Independent Examiner's Report to the trustees of South Grove Community Association I repon to the trustees on my examination of the financial Statements of so￿￿ Grove Community A550ciation for the year ended 31 March 2025. Responsibilities and basis of roport As the charity's trustees you are responsible for the preparation of the financial statements in aetordance wilh the requirements of the Charities Act 2011 I'th8 Act,). I réport in respe￿ of my examination of the ¢harlty's flnancial statements carried out under section 145 of the 2011 Act and in carrylng oui my examination I have followed all the appllcable Directions 9iv8n by the Charity Commlsslon under 58ctlon 14515llbl of the Act. Independent examlner's statement I have completed my examination. I can conflrm that no material matiers have come to my attention in connectlon wilh the examination giving me caus8 io believe that in any material respect.. the accountlng records were not kept in respect of the charity 85 r8quir¢d by 50¢tion 130 of the Act.. or the flnaneial statements do noi accord with those records,. or the financial statement5 do not comply wlth the appllcable requirements Concerning the form and content of finantial slatemenis sei out In the Charitie5 IAccounts and Reports) Regulations 2008 other than any rBqulrement that the flnan¢lal statements give a 'true and fair, view which15 not a matter consldered 85 part ol an In(Jep8ndent eyaminatlon. I have no Concerns and have come aer055 no other matters In ¢onnectlon wlih the examlnatlon to whlch attentlon should bè drawn Sn thls report In order 10 enable a proper under5tandlng of the Ilnancial statements (o be reachèd. R K Bor9ognoni FCCA Mason & Co 6 The Old Quarry Nene Valley Buslne$5 Partt Oundle Peterborough PE8 4HN 14 July 2025 Page 5 South Grove Community Asso¢iation Statement of Financial Activities for the year ended 31 March 2025 Unrestricted funds Total funds Total funds 2025 2025 2024 Notes Income and endowments from.. Charitable activities Investments 86.161 138 86,161 138 83,927 103 Total 86,299 86,299 84,030 Expenditure on.. Charitable activitie5 other 36,023 57,779 36,023 57,779 93,802 31,213 46.254 Total 93,802 77,467 Net gains on Investments Net lexpenditurel/incorn8 Transf8rs between funds 17,5031 17,5031 6,563 Net lexpenditurel/income before other gains/llosses) 17,5031 17,5031 6,563 Other gains and10sse5 Net movement in funds {7,5031 17,5031 6.563 Reconciliation of fund5'. Total funds brought forward 65,817 65,817 59,254 Totsl funds carrled forward 58,314 58,314 65,817 Page 6 South Grove Community Association Balance Sheet at 31 March 2025 Charity No. 272798 2025 2024 Fixed assets Tangible assets 5,889 5,889 3,546 3,546 Current asset5 Stocks Cash at bank and In hand 10 836 51,589 52,425 52.425 1,010 61.261 62.271 62,271 65,B17 Net current assets Total assets les5 current Ilabilities 58,314 58.314 Net a558ts excluding penslon asset or liability Totsl net assets 65,817 58.314 65.817 The funds of the charity Restricted funds Unrestricted funds General funds 11 11 58,314 65,817 58,314 65,817 Reserves Total funds 58.314 65,817 Approv￿ by the trustees on 14 July 2025 And slgned on thelr behalf by.. N. Thulboum Trustee 14 July 2025 South Grove Community Association Notes to the Accounts forthe year ended 31 March 2025 l Accounting policies Basis of preparation The financial statements have been prepared in accordance with Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland IFRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. Change In basls of a¢¢ountlng or to prevlous accounts There has been no change to the accounting policies Ivaluation rules and method of accountingl since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Designated funds Revaluation funds Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Income Recognition of income Income is included in the Statement of Financial Activities ISOFAI when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliabilitv. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SOFA. Donations arbd Voluntary income received by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. legacies Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/llossesl on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/llossesl on investment assets and facilities This includes any gain or loss on the sale of investments. Page 8 South Grove Community Association Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs irbcurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its object5, including the making of grants and governance costs. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity. including any audit/independent examination fees, costs linked to the strategic management of the Charityi together with a share of other administration costs. These are support costs not allocated to a particular activity. Grants pay3ble Governance costs Other expenditure Taxation The charity is exempt from tax on its charitable activities. Freehold Investment property Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equlvalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original Maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Page 9 South Grove Community Association Notes to the Accounts Research and development Expenditure on research and development is written off in the year in which it is incurred. Foreign currencies Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. Leased assets Where the charity enter5 into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified a5 operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recoEnised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. Pension costs The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds. Receipt of donated goods. facilities and services All donated goods, facilities and services received are recognised within incominE resources and expenditure at an estimate of the value to the charity. Page 10 South Grove Community Association Notes to the Accounts 2 Statement of Flnanclal Activltles - prlor year Unrestricted funds Total funds 2024 2024 Income and endowments from: Charitable activities 83,927 103 83,927 103 Other Total 84,030 84,030 Expenditure on: Charitable activities 29,289 48,179 29,289 48,179 Other Total 77,468 77,468 Net income 6,562 6,562 Net income before other gainslllossesl Other gains and losses: 6,562 6,562 Net movement in funds 6,562 6,562 Reconciliation of funds: Total funds brought forward 59,254 59,254 Total funds carried forward 6S,816 65,816 3 Income from charitable activities Unrestricted Total Total 2025 2024 Hire Charges Bingo and Other Income Bar Facilities 41,401 41,401 46,735 11,000 33,760 86,161 11,000 33,760 86,161 8,050 29,142 83,927 4 Income from investments Unrestricted Total Total 2025 2024 138 138 103 138 138 103 Page 11 South Grove Community Association Notes to the Accounts 5 Expendlture on charitable actlvlties Unrestrlcted Total Total 2025 2024 Expenditure on churitable activities Hire Charges Bingo and Other Income Bar Facilities 32,007 2,841 32,007 2,841 26,399 2,117 1,175 1,175 2,697 Governance costs 36,023 36,023 31,213 6 Other expenditure Unrestrlcted Total Total 2025 2024 Employee costs Premises costs Amortisation, depreciation, impairment, profitlloss on disposal of fixed assets General administrative costs 24,755 27,108 24,755 27,108 15,681 23,882 1,899 1,899 3,869 2,817 2,817 1.922 Legal and professional costs 1,200 57,779 1,200 57,779 900 46,254 7 Net lexpenditure)lincome before transfers 2025 2024 This is stated after charging.. Depreciation of owned fixed assets 8 Staff costs 1,899 3,869 2025 2024 Salaries and wages 24,755 24,755 15,681 15,681 No employee received emoluments in excess of £60,000. Page 12 South Grove Community Association Notes to the Accounts 9 Tangible fixed assets Cost or revaluation At l April 2024 Additions 23,015 4,242 27,257 23,015 4,242 27,257 At 31 March 2025 Depreciation and impairment At l April 2024 Depreciation charge for the year At 31 March 2025 19,469 19,469 1,899 1,899 21,368 21,368 Net book values At 31 March 2025 At 31 March 2024 10 Stocks 5,889 3,546 5.889 3,546 2025 2024 Raw materials and consumables 836 I,oio I,oio 836 Carrying value analysed by artlvitles 2025 2024 Bar Facilities 836 I,oio I,oio 836 11 Movement in funds Incoming resource5 (including other At l April gainsllosses 2024 At31 March 2025 Resources expended Restricted funds: Unrestricted funds: General funds 65,817 86,299 193,8021 58,314 Total funds 12 Analysis of net assets between funds 65,817 86,299 193,8021 58,314 Unrestricted funds Total Fixed assets 5,889 52,425 58,314 5,889 52,425 58,314 Net current assets Page 13 South Grove Community Association Notes to the Accounts 13 Reconclllatlon of net debt At31 March At l April 2024 Cash flows 2025 Cash and cash equivalents 61,261 61,261 19,6721 19,6721 51,589 51,589 Net debt 61,261 19,6721 51,589 Page 14 South Grove Community Association Detailed Statement of Financial Activities forthe year ended 31 March 2025 Unrestricted funds Totsl funds Total funds 2025 2025 2024 Income and endowments from: Charitable activities Hire Charges Bingo and Other Income Bar Facilities 41,401 11,000 33,760 86,161 41,401 11,000 33,760 86,161 46,735 8,050 29,142 83,927 Investments 138 138 103 138 138 103 Total Income and endowments 86,299 86,299 84,030 Expenditure on: Charitable activities Hire Charges Bingo and Other Income Bar Facilities 32,007 2,841 1,175 36,023 32,007 2,841 1,175 36,023 26,399 2,117 2,697 31,213 Total of expenditure on charitsble actlvitles 36,023 36,023 31,213 Employee costs Salaries/wages 24,755 24,755 24,755 24,755 15,681 15,681 Premises costs Rates 1,007 8,543 4,661 1,007 8,543 4,661 1.209 5,730 14,841 Light, heat and power Premises cleaning Premises repairs and maintenance 12,897 12,897 2,102 27,108 27,108 23,882 General administrative costs, including depreciation and amortisation Depreciation of General insurances Postage and couriers Sundry expenses Telephone, fax and broadband 1,899 1,191 426 1,899 1,191 426 3,869 877 546 349 349 172 851 851 327 4,716 4,716 5,791 Legal and professional costs Accountancy and bookkeeping 1,200 1,200 1,200 1,200 900 900 Page 15 South Grove Community Association Detailed Statement of Financial Activities Total of expenditure of other costs Total expendlture Net gains on investments 57,779 57,779 46,254 93,802 93,802 77,467 Net lexpendlture)lincome 17,5031 17,5031 6,563 Net lexpenditure)lincome before other gainslllossesl Other Gains 17,5031 17,5031 6,563 Net movement in funds 17,5031 17,5031 6,563 Reconciliation of funds: Total funds brought forward 65,817 65,817 59,254 Total funds carried forward 58,314 58,314 65,817 Page 16