CHARITY NUMBER: 272950 CAVERSHAM PARK VILLAGE AssociATION TRUSTEES REPORT & FINANCIALSTATEMENTS YEAR ENDING 31 OCTOBER 2022 Page 1 of 15 CAVERSHAM PARKVILLAGE ASSOCIATION CONTENTS Ref•r•n¢o arKI Admlnl8trntl¥• D•t•lls of th• Chaffty. ft• TrUSto￿ and AdvlMr• .................. Trustoes R•port....................................................................................................... &6 Ind•pond•nt Examln•r's R•port................--......................................... ... ................... Statsmont of FlnanclalActlvltl ..7 8alanc• Sh••t ......................................- ..&10 Nots¥ toth• Fln•nclalStst•m•nt• ......................................................................... 11-15 P8ge 2 of 15 CAVERSHAM PARKVILLAGEASSOCIATION REFERENCE & ADMINISTRATIVE DEfAILS OF THE CHARITY, TRUSTEES AND ADVISERS FOR THE YEAR ENDING 31 OCTOBER 2022 Charity Rogistered Number: 272950 Princip81 Addre88 of Charity: The Milestone Centre, Northbrook Road. Caversham, Readlng, AG4 6PF Trustee8: P Brackiey, A Haydon. R Sturgess. N Tayier, J Weis8, S Boll Tr88surer: Independent Examlner: Deborah J Edwards, 26 Lea Close. Southcotg. Reading, RG30 3NB Page 3 of 15 TRusfEES REPORT FOR THE YEAR ENDED 31 OCTOBER 2022 The Truste8$ present their annual report together with the financial statements of the charityfor the period 01 November 2021 to 31 Octobef 2022 Con8tltutlon ConstFtution 8dopted 29 June 1967 as amended on 12 February 1976. 19 January 1981, 25 February 1985. 20 January 1997 and 25 February 2002. Th8 charity is an unincorporated a880Ci8tion of members M•thod ol Appolntm•nt or Ei•¢tlon of Trusto•• Trust$6S are appolnied annually at the Annual General Meeting or co-opted later In the ypar as necessery Addltlonal Gov•rnanc•1•8u•• Trustee8 are referred to thelr responsibllitles as laid down tyth8 Chaflty Comml881on. Training Is made 8vallable via Readlng Voluntary Action as needed. PoU¢l•• and ObJ•ctlv•• To promote the benefft of the Inhabitants of Caversham Park Village and the surrounding neighbourhood wlthout distinction of sex. Sexual orientation. race or ol polttlC81. relioous or other opinions by 8$8ociating together the said inhabitants 8nd the Ioc818Uthorlties, volunt8ry and other organis8tions in a common effort to advance education 8nd to provide facilities In the interests of Social welfare for recreation and leisure-time occup81ion wilh th8 object of Improving conditions of lrfe for the 88id inhabitants. To mainlaln and manage the10¢81 community centre In furtherance of these obJeclr¥*8 Flnanclal revl•w CPVA hes felt the full effects olthe pandèmic as although hiring income lour main source of revenue) h8$ improved it still rem8ins shy of pre-covid levels. The 2020121 accounts bonefitted from £27k R8adlng Bofough Council grants and 8 £7k insurance claim, with Ihe absence of Ih88e elemenls allled to an £11 k increase in energy cost8 Contributing signtficantly to the overall Loss incurred. Major steps have been t8ken to redress the situation - including th8 termination of 8 company cleaningcontr8Ctwhich 81as had not proved cost-effectnffj andthe replacement 018 paid member ol staff with a voluntear competent in th6 relevant tasks- and we are already aware from draft figures that the combined measures we h8ve introduced have SUb￿antIallY reduced the defi¢it. R•vlew of actMtI•s Our coUeague8 runningthe Caversham Park Village Social Club found their activities severely curtailed during Covid and vKre pleased to Support their operation by reducing temporarily the licen¢e fee p8id to us. We believe strongly that this action was justrfied to aid their recovery and ensure service tothe community at large was protected. Happily. our membership leveLs have increased and our scheme to link renew81 dates to starting d8te anniversary ha8 been well received. Our Dr8ma club has emerged again after a fallow two years and 1$ on course to resume its schedule oftwo production$ annually- this actNity is open to the public as well as the village locals and has Pfeviously proved a good source of"business". Page4of15 R•furbl8hm•nt Work The walls ol our40-year-old squash courts wer8 crumbling and in desperate need of renovation - adverse member feedback was uncompromising- and a lunding exercise ensured this urgent taskw8s ¢arried out by a professlonal company recommended by Engtand Squash. the sport's goveming body. Our Recreation Wing enjoyed a modest lace-iift the work being undertaken by a membef at a discounted pii¢e. Th• Futur• Unquestionably thi8 has been an extremely a drfficult yeaf forthe eh8rlty but 8S St8ted 88rller. one in which the Tru8tee8 have acted positively in addressing a challenging 8cenario- the unfortunate delay in complwng with our 8¢¢ounting requirements (for whlch we again apologl88 sincerely) means we have already seen subsequence evidence ol tangible benefits. WhiLst con$olld8tlon must be our mantr8 Wa 8re greatly encouraged ty the rise in membership number$ and hirlng wlumes and 8re confident the worst is truly behind us. We have o¥er¢ome the 88tback of two staff resignations and believe that our continuing efforts lo bfing more human resouic68 to tho tablo and fill key volunteef roles will eventually be8r fruit. TRUSTEES REPORT FOR THE YEAR ENDED 31 OCTOBER 2022 Thls report was approved bytho Trustees on 12 October 2024 and 8igned on Ihelf behalf by: Page sof 15 CAVERSHAII PARK VILLAGE ASSOCIATION INOEPENOENT EXAMINER'S REPORT FOR THE YEAR EP4DEO 31 OCTOBER 2022 Ind•pend•nt •x*mkn•rf• rnporf l• lh• Tnrnlw• ol C•v•rnh•ffl P•rk Vlll•g• As•oclallon lth• '¢h•rlty'l I report 10 thtthanty Trysioes m th¥ eAwrtin•l•n ot the K¢ount5 •1 fot thtr¥e•i ended Ji O¢tob•r 2022. AMpon•lblllll•• •nd b••h ol rnport As ine Trui¢ee5 01 Ihe charrt¥ Vou ale rewAytyiL. loi tile piepaiiith ol ¢h• 1S￿+n by (Pwiy Cfynrn155ivn under 145f5Kbl ol ihe Xlll Art. Ind•p•nd•nt •x*mln•rf• •w•m• Your aiiention Is ¢k•*n io Ihe IKI ih•i ihechwily ha> ryep41ed Ibe arcounts in at i¢wi.n or+Jei io pnabt• a Pfow ihe acrounts lo be reachetl Swied D•tvl= 26 Le• Oo>t. Aeodill& AG30 3N6 Page6of15 CAVERSHAM PARK VILLAGE AssociATION STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDING 31 OCTOBER 2022 X121 D￿•th￿and L•¢*des 32,326 55 32,128 Mernber5h 9.236 5,679 Sod•lChJbO¢typa16on Lkenre Lettlng F•dlllles 14,OJ) 38,335 23.783 6,49) 2,596 14.727 15,932 107,677 YJ Prlrrtln8 & slatkY￿y 1154 491 C¢ffiwer & Hathmre & E￿￿￿1t 1234 Lwt & H••t IL817 w￿eT R•tes 140 L&x•l AuihthlGeneral R•ies 1232 5593 Fke & Securbty 1075 6443 6￿11 Malntenan 36111 14,573 Lleanin¢& W*#e C*osal 29781 1(411 Bank & Credit C4Yd (har8es 911 2461 Page 7 of 15 34535 3l712 76 m￿dIan￿j$ Exwises 417 1872 Bad Elp￿se 5011 11744 679 Page 8 of 15 Caversham Park Village Association Balance Sheet for Year Ending 31 October 2022 97.639.ry> 97,639 Youth & R¢ueatkn W 228,647. 228.647 Squxh Cryjns FkAtur•s & F 53.317.fA) 53.317 7,487 9.359 J•7.IlWJ Cash •t and kn HaTrJ 16119 53,131 Held Funds 10,169 8,128 36.675 22.020 279 37.687 34W6 44433 411446 4J7.39S P*strlcted Funds 13598 12,119 Unrestrkted Funds 425,277 TOTAL FUND5 437,396 P8g8 9of 15 The a¢¢ounts were approved by theTrustees and signed on their behalf W. /i/./&* Ikrf..£v Page 10 of 15 CAVERSHAM PARKVILLAGE ASSOCIATION NOTESTOTHE FINANCIALSTATEMENTS FOR THEYEAR ENDED 31 OCTOBER 2022 1.01 Basls of Preparatlon of Flnanclal Statements The financial statements have been prepared under the hisloric81 cost convorslon wfth Items recognised at cost or transaction v81ue unless othev+4ise st8ted in the relevant notes to these accounts. The financial statements hava been prepared in a¢¢ordanc8 With the Si8ternent of Recommended Practice: Accounting and Reporting by Charities preparing the accounts in accordance with the Financial Reporting standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 issued on 16 July 2015 and the Financi81 Reporting standard applicable in the United Kingdom and Rapublic of Ireland IFRS 102) and Charities Acl 2011. Caver5ham Park Vlllage Assoclotlon constitutes a pubtic ben8llt entity 88 defln8d ty FRS 102. 1.02 Income All income is recognlsed once the Charlty hos entitlement to the Sncome. it 15 probable that the Income will be recel¥Yd and the amount of Income roceNabie ¢8n be m888urnd rollably. For legacies, enlitlement 18 taken as the e8rU8r ofthe date on vthich either: the Charity 18 awar6 that probate has been granted. the estaio hasWI fin8li8ed and notification has boen made by the Executorlsl to the Trust that a dislribution will be made orwhen 8 distribution is received fiom the estate. Receipt of 8 legacy. in whole Dr in part. is only consldered probable when the amount can be measured retiably and the cnarlty has been notrfied of the executor's intention to make a dislribution. Vlhere legacies have been notrfied to the Charity. or the Ch8rty is aware of the gr8nting of probate and the criteria for income r￿OgnItion have not been met. the legacy. is treated as a contingent asset and disc106ed if material. 1.03 Expendlture Expenditure 18 recognised oneo there is a legol or constructive obts'gation to Iransfer economlc benefit to 8 third party, it is probable that 8 transfer of economic benefit will be required in seniement and the amount ol the obligation can b8 measured reliably. Charitable activities and govern8nce cosls ale costs incurred in the Charity's operations including support costs and Costs relatingto the governance of the Charity apportioned to charitable activities. 1.04 Tanglble Assets and Depreclatlon Tangible fixed essets are carried ai ¢ost. net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to wrtte off the cost of fixed assets. less their 8ccumuLat&d residualvelue. over their expected useful lives on the following bases: Freehold property- nil Fixtures and fbttings- 2596 reducing balance Page11 of15 1.05 Interest Recelvable Interest on funds held on deposit is included when receivable and the amount C8n be measured reliably by the Ch8rity. This is normally upon nolification ofthe interest pald or payable bythe bank. 1.06 Debtors Trade and olher debtors are re¢ogni8ed at the settlement amount after any trade di8COUnt offered. Prepayments are valued at the amount prepald net of anytrade di8counts due. 1.07 Cash at Bank and In Hand Cash 8t bank and In hand includes cash and short term highly tiquid In￿StmentS wlth a short term maturlty of three months or less ftom the date of 8cqulsition or openlng of the deposbt or slmllar account. 1.08 Llabllltles and Prov181on8 Llabilities are recognised when there is an obligation at the B8l8nce Sheet date as a r88uIt of a Past event. it is Pfobable that 8 tran81er ot e¢on(Mnic benellt WIU be requlred In 8ettloment and the amount of the settlement can be 88tim8ted reliably. Liabilit18s are recogn15ed at the amount the Ch8fity anti¢iP8tes r( wlll p8y to settle the debi or tha amount it has receKffjd 85 advanced payments of the good or services it must provide. Provisions are measured at the best egtimate of the amounts required to settle the obligation. Vlhore the effect of the tlme value of money Is material. the provi8ion is based on the pre8ent value or th08e amounts dlscounted at the pre-tax discounl r8te that reflects the risks specific to the liability. The umwlndlng of th8 dlscount 18 rocogni88d within inlertrst payable and 8imiiar charges. 1.09 Flnanclal Instruments The Charty only has fin8nclal assets and fin8nclal liabllltles that qU811fy as b8slc flnanc181 Instruments. Basic financial Instruments are initially recognlsed at tr8nsa¢tlon value and sub88quently measured at their settlement V81ue with the exceptlon of bank loan8 which are subsequently measured at amortised cost uslngthe effective interest method. 1.10 Pen81on8 The Charlty operates e defined contributlon pension scheme and the penslon charge repr888nt8 Ihe amounts P8yable by the Charlty to Ihe fund in respect of the year. 1.11 Fund Accountlng General fund9 are unrestricted funds that are available for use at the discretion otthe Truste98 In furtherance of ihe gener81 objectiNYs ot the Charity and have not been design8tad for othor purposes. Restricted lunds ale funds that are to be used in accordance with specific restrictions imposed by donors or that have been raised bythe Charity for particular purposes. The costs of raising and administering$uch funds are charged againstthe specific fund. Th8 aim and use of each restricted fund Is set out in tne notes to the Ilnanclal statements. Pag812of15 2 NEf INC(ME Ne¢ kKome IRe%¥Jrrn5 EX￿￿ed) 1$ 5tsted aft 2022 20 Depredatlw Oftsrqlb￿lIXed assets L872 JTANGIUE FIXEiIASSET5 Prop•rty & Flttky Tat•l At 01 No%*mb•f 2021 379A13 24J92 Al 01 Ntyvnber IOZI 15,033 th•rplor they 1,872 Al 31 oaober 2021 14905 pl￿ OookVah• At 31 Ociob¢r 2022 J79,É03 117,0 At 31 Ociobtr 2021 379.603 9359 388.962 Page 13of15 Trade 32.L 7.431 c4￿15h•M P¥k VIMa8e Sod•l 1.591 5,041 675 uo)) 5 CAEiXTORS 21 Tf•de Crtdll 8.937 Taxatlon, P•yYol & PeMb)n5 732 161 oih•r Credltor5 1430 L430 Bounce 8a(k Lo•n 37.1￿7 34￿47 Page14of15 B•dminlL 31 235 993 921 10.649 8.861 OlderGene￿1kn Lunth (hb Squash 622 612 Table T•M15 399 12.119 7TOTALFUNOS Bakn¢e at 01 Nthynber 2021 12,119 42S,277 437,396 Tc¢•l 6.4 117420 125,189 Tot•1 Eyndltwe SNII 14J.849 148.860 ai October 2022 411 P8g815of15