arltyreglstration number 274134 OFFICE COPY PLEASE SIGN AND RETURN TO STREETS WHITTLES FRINTON-ON-SEA COMMUNITY ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 STREETS WHITTLES CHARTERED ACCOUNTANTS
FRINTON-ON-SEA COMMUNrrY ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION Mr R G Pelers Ms P Keevil Mr B Martin Charity number 274134 Princip Addre ken House The Triangle Shopping Centre Rochford Way Frinton-on-sea C013 OAU Independent examkn Daniel IThsley BA ACA c/0 The Old Exchange 64 Wegt Stockwell Stnet Col¢hester sex Coi IHE Colloperative Bank Albert Hall Building Hish Street Cokhester Essex coi IJW
FRINTON-ON-SEA COMMUNITY ASSOCIATION CONfENTS Trustees, report IndependentexAmineWs report 5t4tementof flnancitil aetivitles Balthee sheet io Notej to the fIndI1 slatemenls 11-21
FRINTON-ON-SEA COMMUNITY ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their anfflual report finoncial ststements for the yearended 31 December 2024. The finandal statements have been prepared In accordance with the accounting policies get out in note I to the financial ststements and comply with the Association'5 governing do¢umenL the Charities Act 2011 and "AccouThting and Reportins by Charities.. Statement of Rec(Fmmended Practice applicable to charities preparing their accounts in accordance wRth the Financral Reportsng Standard applicable in the UK and Republic of Ireland (FRS 1021, (effective l January 2019). Oble¢tlve• and artivitiej The Association is established to benefit the residents of Frintoft on Sea and its neighbourhood, currently ststed within the CoDstiiution as theTending DistricL The AsSOCidtion is organised as an independent unSncorporatsd wociation of residents with on elected managlng committee. The main activitle$ of the As$ociation are.. Providins aftd manhging a Community Centre based tn the Association's freehold pmtse5 known as Soken House The Constitutior& of the AssiKxation #tate5 that the oblects of the Association shau Ee.. (17) To pronzote the bertefil of the inhLzbitAnts of the Tendring Dislrict (hereiKllJttr called 'the area of benefit J wiiliout dtsttnditrn of SEX or of polilical, rÉligiot45 or othtr ownions by agsociating uyith the loeal outhorities, voluntsry orgnni54tion$ Ixhrtbrtuts in a commo# efftrt lo advonct educohon to providefaolities in the interest of soLial welf4re for ereall0# Énd leisure-timt oeLltpation tuith the oty'ecl of imprtruing tht conditions oflifefor Iht sard inhobilants. (b) To establ or Io stture tl est4blishment of a Cvmmunity Ctnlre (heyeinofter colled 'tht CenÈre ) ond to m101 and mortAge, or lo c(weroke with local slatutory body tm tlte mainlutthie Artd mAnqgeMent of, such a clIEr Acttrrities promoted ty the A8SOCiatioFt its const1trtt bodies infvrthenmtt ofthe tthove objeLIs. TheAssoL7nfiort shAII be 0n-pAJty in polilia find nort-se¢tari4n in reli0. Publrc benefjl The Tru3tee$ hve paid due regard to suidarlee issued by the Charity Commisslon in deciding what activities the Agsoci&ts'on should undertake.
FIUNTON-ON-SEA COMMUNITY ASSOCIATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Aetlvltles The Agsociation makes avallable Tneeting rooms in Soken House to individuals and orgAThisationg in Fkinton on and its neighbourhood. Additionaily. it provides refreshment faci]itie$ for indivRduaIs and organi58tiotts using Soken House. The Association has over 71y) individu31 local members ar ha5 been used by many organisations and individuals a regular basis for a wide range of meetings, activitie5, and leisure pursuits throughout the year. The manageryLent team consists of individua15 living locally who thus are well placed to identify initiatives to meet the needs of the local community. Facilities avaitable Five rooms and two kitchen area9 are available at the Centre for lu're by any individual or organlsatioft in accordance with the standard hrring agreement and sc4le of charges adopted for the year. Di8COUnted rates continue to be offered to A$gociation members. ArtGallery lsupportsd by our volwiteer groups) (supported by our volunteer groups) (operated by Frinton Community Senpices Ltd) Toilet fadlities include Baby Chan8e facilities &nd Disabled Access on the ground floor Tea bHr Llcenced Bar Icti atin at the centre In Activits'e$ organised at the Centre by Association volunteers during the year irL¢luded.' Art workshops (3 8roup#} Seated Fits$9 & Dance Bingo Bridge Carpet bowl¥ DarLg Scrabble Board gatneg Recorded mujic TAble tenni912 groups) Folk doncins Learn to play Brid8e Jigsaw libr & sales Needlecr&ft {2 sroups) Cribbage Open Mic Ni8FLts Games Nights Singo Bingo Quiz nights Attendance at most of these activities was corLgi4t and at the end of the year, interest and ineome from Some activttses was continuing to grow and look very promising for the forthcominB year. Classes are open to all and discounts contiThue to be ofEered to Association members.
FRINfoN-ON-SEA COMMUNrrY ASSOCIATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 vi ou and servic tthe centre In The followins organi$ations u$e the Centre regularly for their Meettn and activities: Frlnton Residents. AssociatRon N E Essex Adult Community Learning Tai Chi with Paul Beddington Walton Flowerclub Frinton Art &tiety Frinton Bridge Club Frinton Philoklic Society Hartbeep5 Baby & Toddler Classes Weightwatchers West Water County Music Club Parashakti Yoga Core Vit&lity Yoga Holy Trinity Churc Keep Fit with Sonya Disg Frinton Communlty &'ngers Espanol by the Revive Yoga & events U3A C.A.S.T. Moths Tutor Tom TendrinsTecFuiolo8y College aacton CLP Ilabourl Tendrrn8 Dl$tr'ct Council (PollEng StAtion) Clacton CCA (Conservativel Home Instead Clacton Frinton & Walton Clacton PCN Hire acttvities At the centre are buoyant and now conststute a increasinsly significant proportion of our Income. Ag the year ha5 progressed, hire income and attivity booking5 have substantially increased and at the end of the year were continuing to grow and look very promising for the forthcomtng year. A5U or ar Active steps have been taken by the manasement team during the year to encourage not-for-profit and chthritable Local community group5 to hold aedyities, meetÈngs and cknic5 at Soken Hou9e with a view to developing the communtty resources availablE at the centre. These include well known national support setvices md l(Kal not-for- profit and charitable organigations. These groups are now meeting regularly at the centre and provlde valuable additional re30urees to our local eonunumtty and members. They aTe supported by the knociation with discouneed meeting spaces with many made hvaiiable free of charge. Additional simtlar sUPPOrt groups are expected to add to this list in the forthromtng NHS Diabetss Supportservices Alzhermers UK (singing for the brAlrLI Community Volunteerservices Tendrtng (CV51) CVST OlderPersons Fonlln Parkingow UK P gTOUP51 Citizens Advitt Bureau (fendring) Frinton macularsupport Gr¢mp fftlia ratin Tnthe The rlurnber OE ¢otLstituent8roups offibated to the Assocxation still standg 1 one group as follows.. FCA Apex Club (Disbanded 31st December 2024)
FRiwfoN-ON-SEA COMMUNITY ASSOCIATION TRUSTEES, REPORT (COFrnNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 vent5 held in the Regul)r entertainment events havE been held at the centre tbsoughout the year and many have en well supported. As in past years, some events have produced disappointing attendances. To avoid these resuliing in fmancial losses to the A550ciation, the number OF events ha5 Eeen reduced to contrate on the most popular and profitable. On a positive note, many of the events were well attended and provided a $izeable stream of income to the A5SLxiation 8nd the number cancelled were fewer than the previous year. Plons are currendy in place for the new year's schedule of events, including some new &nd exciting changes to ttle usual events. We would encourage all our members to support these events as without this. their future could at risk. The entertainment events held this year included:. Regular monthly Quiz Nights Regular Llve entertaiIiment in the lounge Discos and recorded music events in the main hall 9 held this year 6 held this year 8 held this year 5 held thi5 year 12 held this year 22 held thts year Live Entertatnment in the main hall Karaoke ni8hts Trade Fairs A¢hlevemenls and performance As can be seen from the statements attached. over011 income Eor the AssocRation has again Incre&ged thi5 year Ivhilst income from membership fees have remained largely skntic since last year, iThcome from room hire and FCA volunteer led activity groups, inlerest on investments and %eneral fundraising activiti¢$ have increased substantially. The Trading results of our sub$idxary company Frinton Community Setvitts Limited (F) have Improved tn this financial year but remain under pressure in a ho$tile climate for the lieenced and hospita]ity trades. As a result, we still do not receive any resOr contributsorkfj to the costs of operating the centre by way of a service charge (rom FCS Itd. Thrs 15 likely to i* the c8se for the rmmediate future, but it ts htsped that contributions may re-commence toward$ the later part of the next financial year. We eontinued to receive renf81 income frorn EE for the mast on our roof for the early part of the ye8r and in September 2024 when with the permtsslon of the Charities Commission, this lease was conveyed to Nile UK Service Company It/a5 Telecom InfrastsuctLe Parthershipl (IIP) releasing a Capitsl Premium of £ 82,600 payable 89 accelerated Income in lieu of rent over 2 years in 5 equal tranches. The licensed bar at Soken House is operated by Frinton Community Services Ltd, a wholly owned tradtng cornpany. Profits not needed to be retalned in the company are paid over at the year end to the Ass0¢iation ag donation. The doMdon made to thÈ AssoeiatioTh by FCS this year amounts to £ Zero due as 8ny profits declared in the year ending 31st December 2024 will be held against the 1059es declared at the end of the year ended 31gt December 2024 for corporation tsx purposes and to bring the company back towards a solvent positson whereby its awts including retalned profit will exceed Its liabilities. This i¥ ongoin8. As can a]50 be seen from the accounts attached. the total annua5 operating costs for the Association have alsts ncreased and now 5tsnd at around £3.2%) per week. Thi's is a $iieable ongoing expenditure which wlll require continued active management and monitoring if the pogitive trading results for this year are to be maintained, and C05b met within the charities Income and resources.
FR1oN-ON-SEA COMMUNITY ASSOCIATION TrUSTEES' REPORT (CONfINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 To as51St in thts and continue to improye the tools available to the management team for ongoing real time monitorin& reportin& planning and decision makin& the substantia] additional investtTrent made in technology last year ha5 been continued wtth further upgrading and replocing IT and Telecom5 5y5temg to the new digitsl VOIP platform. These now offeT the m05t efficrent utilisation OE stsff and other resources. They complement our new Hire and club management $oftware and Electronic Potnt of Sale IEPOSI tills and electronic membership cards and ensure that the Association 15 now prepared and equipped for the proposed withdrawal of BT analogue telephone services plarlned for early 2025. The hire maThagement system has been in pkn siThce September 2022 and is now fully estabtished. It is Eu"shiy efficient and accuTate and without 1¢ much of the growth in Hire activxty would not have been possible wilhout substantial additional Staff resources. The new CMS club management Systern went into live operation on l January 20ZI as planned and is now firnily established. In addib"OTL we hlso now have in place fully operational Xero accounts management Systems. These new sy5terrt5 have $hown substsntial benefits including improved purchage and Sales reporting, debtor control, 5impldied and highly efficient membership renewal processes, And improved morketing and analy$ig. Fwther benefits include flexibility for change8 to evonig and tsriff5 with the abih'ty to react q]cklY. The identification of, and diffeTendal pricing for member5 and non-rnembers implemented in January 2023 has a]50 a95iSted In compliance with tKencing requiremerlts and the provision of on-line c&rd pAyment fAcilitie$. These new systen)s combined have without doub¢ enabled us to reduce the need for additional expenditure o staff resources and have enabled us to increase income and profitability across the whole ran8e of the A5sociatlon'$ a¢tivitie5. The one affiliated FCA activittr group "Apex- hA5 followlng due process been dissolved effect fvom 31st December 2024. In accordance with the rules of the Apex Group and the Constitution of the Assoclation, the balance of funds held by the Apex group will become payable to the Association. At the 31 December 2024 the Tendting Apex Club reported a baD& balance of£l,163 (2023.. Balance £1.6191 It is eXPeCd that transfer of these funds will be completed early in 2025. Flnancial review Grants received th1$ year There were no new grants received thi's year. Existin8 rln8-fenced funds held on account at the start of the flnancial year have been allocated to a number ol expendlture items identified in the accounts and a repayment of £4,Tr to Essex A8soci&tson of Loc&1 Authoritse$ has been completed in this financial year to cle3r unallocated 8rant income identified on lastyear's accounts. rve5 The management committee has examined the Association's requirements for re5erve5 in light of the main risks to the Association. It has e51ablished a policy whereby the unrestricted funds not cotThnitted or invested in tangible fixed a58ets held by the Association should be between thr& and six months of the expendittire. Bud8eted expenditure for 2025 is £170,OtM)12024.. £150,(M)01 and therefore the existing target for the reserves of £IO.OtK)12023.. £50,(M)01 in general funds is eonsidered to remain adequate. The te5erves are needed ¢0 meet the working capital r4uirements of the Associatson and the maThagement COTDJDittee are confftdent that at level they would k able to conttnue the current activities of the A550¢iation xf a st8nificant drop in funding occurred until alrnative sources of fundtThg were oblained. At 31$t t)ecember 2024 liquid reserYe5 in unxestricted funds amount to £6£801 {2023.. £70,1871. nci al fundin sources The principal fundiTtg resotsxces of the Asgociation are from the hire of rooms to local organisations and individuais, membership subscriptions, activity f&s and tea barsales. It is inlended that these bE $ufEieientto cover all expenditure incuLTed in providing the Centre. The Improvennt of facilitie5 is ftsnded from donatiorL5, grants and fundraising. A lull prograrnme of fundtaisins actiYitie5 15 plann. As all running costs of the ntre continue to rise and we have some iar8e expenditure item5 needed. we will be continuously monitoring and reviewing all aspects of our funding and expendire an ongoing basis.
FRINTON-ON-SEA COMMUNITY ASSOCIATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Aside frotn retaining a prudent amount in serVeS each year mogt of the A9$iation'S ful$ are to be spent in the short terrn and $0 there are few funds for long term investment. Any sulplus fund$ are placed on deposlt 50 that they are readily available to meet any funding requirements that Tnay arise. k mana me The TnteeS have a risk m8nAgement5trategy which compiises.. An aru)ual review of the principal rlsks and uncertainties that the Association and it8 5ub5idiary FCS face,. The establishment of policieg, $y$tenv and procedures to mitigate those ri4ks idendAed in the al review.. and The implementstion of proeedures designed to minimise or manage any potential impaet on the Association Should those risks maierialie. This work ha3 identsfied that financial su5tsinability 15 the major financial risk For both the Association and its 3ub5idiary. A key element in the management of financial risk is a regular review of available bquid fund5 to settle debts as th'ey IAII due, resular liaison with the baDk and active management of trade debtors and creditors baianceg to ensut sufficient working capital by the A$s(Kiation and its subsidiary company. Attention has atso been focused on non-financial risk5 arisin8 from fire, health and safety m)tter5 and heal welfare and hysiene. These risks are managed by ensuring accreditabon 15 UP to date, having robugt pollcles and procedures in place, and regular awareness training for staff and volunteers worklng iTr theye areog. tnsluance cover has been putin Pla where appropriate to cover the rtskg faced by the A$50ciation. The FCA ha$ served the cornmunity for 47 Yea and fu]fils the demands required. There is no reason not to Continue the facilits'es provided. Plan¥ for fulure perlods In view of uncertainty regarding the new ownership of the Triangle Shopping Centre ond its poterLti&l implications on the Association, applications for fundins and grant opportunitieg for capitsl, equiprnent and infrastructure projects have been temporarily suspended unts'l further clarification of the long-term fure of the site can be secured. WhJ'l$t our plarL8 to extend our youth based activities at the centre have been delayed due to other prioritses, these continue to be constdered and we will be seeking available operalxThg cost gra¢ funding to pursue these plan5. These wtll all be developed into the new year and progress reported at future business management m&tin8S. Strudure, sovernance and management The knociabon was constited at a pubtic meettng held on the 21 April 1977 and is regtytered with the Charity Commission No. 274134. The Trustees who 5etved during the year and up to the date of sisrwture of the h'nancial statemenls were: MrR G Pelers Ms PKeevi] MS V WiUiallLg Mr B Martin M5 D McDonnell (Resigned 18 &ptember 21r24)
FRINTON-ON-SEA COMMUNITY ASSOCIATION TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Management Committee The followRng were members of the Management Committee durins all or partofthe year.. Pamela Keevil First Elected 26 March 2022 Re-elected 29th April 2023 Rfrelected 29th April 2023 Bob Peters FirstElected 26 March 2tr22 Roni Willian Elected 29 April 2013 Elected 29 April 2011 Elected 29 April 20ZI Bill Marttn Debbie mcDoru1l ReSied Ausust 2024 Senior Mana8ement Team Pamela Keevil- Hon Pruident First Elected 26 March 2022- Rlected 29th ApriI 2023 Roni Williams- Chaimian Etec¢ed 29 April 2023 Blll Marknn- Hon. Secretary Elected 29 Apiil 201 Following changes to the constitiOn irt April 20Z3. Existing Mernbers of the Mana8ement Collunittee can remjin in p05itlon for three ye8rs Following electson 8fter whtch they may Stand for re-elecdon lor a further threfryear period. Prospective new Members OE the Management Commtttee are elected annually at the Annual Gener•1 Meeting which is held at Soken House on a conventent Saturday between fvlarch at May each year. The members of the Manjgement Comrnjttee are charity trustees foi the purposeg ofcharity law. Or8ani$atlonal $lructure Whilst the Management Committee are responsible for policy, governance and decislon m8king for the Association. the operating and administration of the Cornmunity Centre and Association octivities is carried out largely by the employed Centre Manager and two part lime Adn)inistrative support staff, &qsisted by some 40 unpaid volunteers. Indu<tlon and training of trnstee$ The first meeting of the newly elected Management Committee each year is treated ag an inductlon rneeting. In addition, all new Trustees are required to attend a fornial in-FLouse training session when their responstbilities Charitv Trustees are thoroughly exptsined hnd an induction to the activiti, $lructureg and 8overnarK* ol the Associ8tson and the Legal and operational environment outlined. Relation$hlp wlth related partles The Association owns all the issued share capital of a trading company incorporated in the UK. (Frlttton Conununity Services Limited - Resistration nuTnber 2551086). Thi5 cornpany operates a iiceTheed members bar amd lounge at ken House which provideg refre$lunent facilits.es at the Centre. paying over its SUTpIug pIoEits to the 5(Kiation as a donation. The details of the transactio between the Association and the trading cotnpany are ore fully described in the ThotE5 to the Flnancial Ststements that accompaThy this report. The Tru$tees' report was approved by the Board 0fTrteeS. M5 P Keevil Tru8¢ee {Hon. Presi41ent) 14 April 2025
FRINTON-ON-SEA COMMUNITY ASSOCIATION INDEPENDENf EXAMINER'S REPORT TO THE TRUSTEES OF FRIKfoN-ON.SEA COMMUNrrY ASSOCIATION l report to the Trustees on my examination of the financial ststemenL8 of Frinton-on-sea Community Association {the Association) for the year ended 31 DÈcember 2024. ResponbIlItieS and basi$ of report As Ihe Trustees of the Associatlon you 8re responsible for the preparation of the financial statemeniq in accordance with the requirements of the Charits'es Act 2011 {the 2011 Act). I report in respect of my examinatson of the Ass(latiOn'S finoncial Statements carried out under section 145 of the 2011 Act. In carrying out my examinabon I have followed all the applicable Directions given by the Chartsty Commission under section 145151(bl of the 2011 Act. JTrdependent examlner'8 8tatemeAt Your attention is drawn to the fact that the charity has prepared fln&nclal Statements in 8ccordance with Accountsng Jnd Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard pplicable iti the UK and Republic of lielaftd IFRS 1021 in preference to the Accounting and Reporting by Charities.- Sknternent of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has now been withdrawm. l understand that this has been done in order for financial statemenEs to provide a true and f&ir view in accordance Wtth Gener&lly Accepted Accountin8 Pra(tice effective for reporting periods besinnhng on or after I january 2015. I have completed my examination. I conftrm that no matters have cotne to my attention rn conrtectson with the examination givin8 me cause to believe that in any material respect.. accounting CordS were not kept in respect of the Association as required by section 130 OE the J)11 ACL. or the financRal statements do not Accord with those records,. or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charitie$ (Accounts and Reports) Resulation$ 2(K)8 other than any requirement that the accounts 8iYe a true ond fair view w1ch Is not a matter cotL8idered as part of an independent examin4ts'on. I have no concerns and have come across no other matters in cot)nection with the examination to which attention should be drawn in this report. order to le a proper understandRng of the firLancial Statements to be reached. Danlel Insley BA ACA c/0 The Old Exchange 64 West Stockwell Street Colche5ter ccn IHE Dated.. 14 April 2025
FRINTON-ON-SEA COMMUNITY ASSOCIATION STATEMENT OF FANCIAL AcrtvrrIES INCLUDING INCOME AND EXPENDITURE ACCOU FOR THE YEAR ENDED 31 DECEMBER 2024 Unre5trleted Restrirted funds funds 2024 2024 Total UDxe$trlcted Re5tr1rted funds 202 Total Notes tneome and endowment5 fronL Donati(FTts and leg)cies Charitable activitse$ Other trading activities Investrnents Other income 2587 74.288 46.896 3,016 42,502 15,291 81614 33,436 l¢J)7 16,991 81614 33,436 2,007 27,864 74,288 46,896 3x116 41502 Total Income 169,289 169,289 161,212 161912 Expenditure on: Raislng funds Charitable &ctivittes 36,828 138,8(r 36,922 141,749 31,871 129,257 650 15,827 32,521 145,(184 1942 Total exptDditure 175,635 3,6 178,6n 161,128 16,477 177,605 Net expenditute and movement In fund8 {6J461 13,0361 19,3821 £777) 114,6¥Jl Re¢ondllatlon 0£ ftsnd8: Fund balances atl January I 224327 232550 224.243 247,243 Fund balanct8 at 31 December 217,981 5,187 2ZJ.168 224,327 232 The ststementof financial activities indudes ajl gains and losses recogDised in the year. Ali imcome and expendituye derive fromcontinuing activities.
FRINTON-ON-SEA COMMUNITY ASSOCIATION BALANCE SHEET AS AT 31 DECEMBER 2024 Note8 Flxed a$8ets Tangible assets Investments 155.895 154,138 16 155,897 154,140 Cory¢nl auets Debt falIing due after one year Debtors falling due within one year Cash at bAnk and in Fland 17 17 6.912 10,855 81,114 12.162 112ZS 98,881 1ffl.484 Cred1¢0 amount8 falllths due withln one year 18 (31,610 123m4) Net turrent •88ets 67.zn 78,41 Total agJe16 lefj8 eulltnt ll*blUtlei 223.168 231550 The fundB of the A8Jodatlon Re3tricted income funds Unrestricted ndS 5,187 217,981 224J27 223,168 231550 The financial statement¥ were approved by theTrugtee5 on 14 April 2025 Ms P Keevil Tnlet (Hon. Fre•ldenil -io-
FRINTON-ON-SEA COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EKDED 31 DECEMBER 2024 Accountins pollcle8 Chartty Information Frinton-on-sea Conwiunity Association is a crIty and is registered with the Charity ComrnissioTh No. 274134. 1.1 Accountln8 conventlon The financial statements have been prepared in accordance with the A5sociatson'$ governrng documen¢ the Charitles Act 2011, FRS 102"The Financial Reporting Standard applicable tn the UK and Republic of Ireland- I'FRS 102,1 and the Charities SORP "Accounting and Reporttng by Charities: Ststement of Recomtnended Practlce apphcable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable tn the UK and Repub¢ of Ireland IFRS I2) (effective l January 2019}. The Association is a Public Benefit Entity as defined by FPS 102. The Association has taken advantage of the provlslons in the SORP for charities not to prepare a Statement of Cajh Flows. The financial ststements have departed from the Charitses (Accounts and Reportg) Reguladons 2CK)8 onjy to the extent required to provide a true And fair view. This departure ha9 involved following the Ststement of Recommended Practlce for charities applyiftg FRS 102 rother than the version of the Statement of RecoTTunended Practice whtch 1$ referred b) in the RegulatiorL8 but whlch h•s gtnce been withdrawn. The flnancial statements are prepared In Sterling. wlu'ch is the functlonal currency of the Association. Monetary amounts in these financial statemenfs are rounded to the nearest£. The financial ststements have been prepared under the historicAI cost convention. The principal accountins policies adopted are set out below. 1.2 Going con¢ern At the time of approving the financial 5tstements, the Tntstees have a reasonable expectstion that the Association hag adequate resources to continue in operational existence for the foreseoable future. Thus the Tntstee5 continue lo adopt the going concem basis of accountin8 rn preparing the financial statETnents. 1.3 Charltable fund8 UnrestrictÈd funds are available for use at the discretion of the Tru$tses in furtherance of their charitable obi'ecttyes. Restricted futi are suiryect to specific conditioDJ by donors or grantors 0$ to how they may be used. The purpoges and u5e5 of Ihe restricted funds are set out in the notes the financial statements. 1.4 Ift<ome tncome is retO8nised when the A550ciation 15 le8ally entitled to xt Aftsr any performance conditiorLS have been me¢ the amounts can be measured Teliably, and rt is probable that incorne wtll received. Cash donationJ are recolSed on rettipL Other donations are recogrllsed On the Association has been notih'ed of the donatiott, unless PerfornWe conditsoDS require deferral of the amount Income tax recoverable in reladon to donations received under Gift Aid or deeds of covenant is recognised at the tsrne of the donatio li-
FRINfoN-ON-SEA COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Aecountlns policies Icontinued tEgacies are recognised on receipt tsr othetwise if the Agsociation has been notified of an impending distributiory the amount is known, and reipt is expected. If the amount is not knoww the legacy i8 treated a5 • contingent asset. IJ Expend£ture EXpendIre is recognised once there is a legal or constructive obbsation to tralfer economic benefit to third party, it is probable that a transfer of economic beneftts will be required In 5ettiemenL and the amount of the obligation can be eaSured reliably. Expenditure is classlfled by activity. The costs of each activity made up of the total of direct costs and shared Costs, includtng support Costs involved in undertaktng each activity. Direct Costs attributable to single activity are allocated directly to that aclivity. Shared eogts which contribute to more than one activity and Support Costs which 8re not attributable to a single activity are apportioned between those activldes on a basis consistent with the use of resources. Central stsff costs are allocated on the ba$ts of time spent, and depreciation char8e5 are allocated on the portion of the e¥S use. 1.6 Tangible flxed a8set8 Tansible lixed 05sets are initially measured at cost and subsequently rnea$ured at co$t or v#luation, ftel of depreciatton ond any Impairmertt Ios9es. Depreclation is recognised so as to write off the cost or valuation of assets le58 their residu01 value5 over their useful lives on the following bases.. Freehold land and buildings Ftxttwes and fittin89 Computets Nil IO% duCIng balance 25% reducin8 balance The gain or lo$$ arisin8 on the disposal of an asset is determined a5 the dIffenCe between the sale proceeds and the corrying value of the asset, and is reco1&ed ITh the stAtementof fmancial &etivities. 1.7 Flxed a88et Anve¥tment8 Fixed a55et inve5tznents ore initiolly measured at cost and 5ubsequeThtiy measured at cost less any accumulated impainnent losses. The Invesbnents are a5se55ed for impairment at each reporting date and any Impaiyment losses or reversaIs of impalrrnent losses are recogtused imrnediately in net incomel{expenditurel for theyear. A Subsidiary is an entity controlled by the ASsI80Th. Control is the power to govern the fin8Thcial and operating policies of the entity $0 as to obtain benefits from its activilies. 1.8 Impairment of fixed assets At each reporting end date. the A550ciation reviews the carrying arnounts of its tangible assets to deiennine whether there t$ any indication that those assets have suffered an Impa]rnnt 105s. If any such Indication exists, the recoverable amount of the as8eti5 estima in order to determine the extent of the impaitnient105s {if any). -12-
FRINTON-ON-SEA COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountin8 poliau {Continu¢dl 1,9 Financial instruments Basic flnancial instruments are initially recOu9ed at trarL8action value and subsequently mea5UTed at •mortised cost. Fiftanaal agsets comprtse cash at bank and in hand, together with trade and other debtor5. A speclfk provision is made for debts for which recoverobility is In doubt. CAsh at bank and in hand is defined as 011 cash held in irLStant occess bank accounts and used as workins capRtal. Investments, including those in sub5idi&ry undertakin8s are held at C05t Its5 impaIrnnt At the b)lance Sheet date, with 8&tns and losses beins recogntsed within profit and loss. Financial liabilities held arnortised cost comprise Jll creditors except soclal gecLuIty and other thxes, deferd incorne and provisiong. 1.10 Employee benefits The cost of Any unused holiday entitlement is recognised in the period in which the employee'$ services are received. Termtnation benefits are reco1$ed immediately as an expense when the Association is demonstrably conunitted to terminate the employment of an employee or to provide ternitnation benefits. 1.11 Retlrement berteÉlt8 Payments to defined contributtoft rethment benefit5chemes are charsed as 8n eXPere a$ they f4ll due. Crltlcal accountlns e8tlmate8 and lud8em¢nt• In the application of the A39ociation's Accounting policies, the Trustees ire required to make judgettrtts, e$tim@teg and asyumptions about the carrying amount of assets and liabilities that are rLOt readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ Erom these estimales. The estimates and underlying wumptsons are reviewed on an ongoing bas1$. Revisions to accounting estimates are reCOlsea irL the period in which the estimate is revised where the revRsion affects only that period, or in the period of the revision and future peri¢)ds where the revision affects both cufftnt #nd future periods. Income from donations and lesacies Unre8tricted Refjtrloted ftsnds nds 2024 Total u¢strIded Re$tricted fund8 fund$ 2023 2023 Total DonatioTh8 atLd Grants 1587 15.291 15291 1587 1587 15291 16.9)1 13-
FRINTON-ON-SEA COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMErirs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 ChaTltable actlvltles arltable Clwttable IOme Income 2023 Room hire Member stsbscriptions Member activity fees Perforniance related 8rants Admin charges to FCS 39357 21 13,862 34,251 17J62 13.001 18,(IX) 74,288 81614 Jn¢ome from other tsadlrtg Idi11¢8 Unre6trlcted Unre8tr1rted £undo fuThds 2023 Fundrabtng events 46,896 33,436 Income from Inveitments Umre•trlcted UnYe$¢rlrted funds fund 2024 2023 Interest receivable 3,016 l(M)7 Other Iorne Unrejlrirted Unrefjtrlcted fundg nd5 2023 Other iticome 4¥02 -14-
FRINTON-ON-SEA COMMUNrrY ASSOCIATION NOTES TO THE FINANCIAL STATEMENrs (coNrINUED FOR THE YE4R ENDED 31 DECEMBER 2024 Expendlture on rojsins funds UnrestrArt¢d Restricted nds Eund8 2024 Total UnrestslLted RestrEd¢d fund8 funds Total 20Z3 Fundrakntns and publicity Otherfundraising costs 33,681 28.788 29,438 Tradinsco$ts Other trading activiiies 3,147 3,147 3,083 3,083 Total costs 36,828 31,8n 650 31521 Expenditure on tharltable artlvltles Charttable Charltable Expendlture K¥penditure 2023 Dtrert cost Staff costs Depreciation and impairment Contraet cleaning and c8retakin8 Room hire, rates and water Heatxng ond lighting Buildlng setvice dur8e Insurances Property rnatntenace Includlng hygrene Sundry expemes Computer expenses Telephone and internet 51149 959 40,629 1168 11,919 6,315 4153 9A33 366 47,614 3,136 14,479 5,905 4.245 12,886 1468 1,532 3.272 1,653 136,685 139593 Shve of support and governan¢e ¢ofyt$ (see note lo) 5,491 141.749 145,084 Analysi8 by fuDd Unrestricted funds Restricted funds 138.8A)7 1942 129,Z57 15A27 141,749 145,084 -15-
FRINTON-ON-SEA COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENfs (CONTJNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 SupporttOSt8 Support co8ts Governance costs 2024 Accountancy Legal and professional )64 1064 3,OLiI 1448 3,043 5.064 5,064 5.491 AThaly$ed between Charitable activltiej 5,064 5,491 11 Nel movement In fund8 The net movement in funds ig $tsted after chargtng/lcrediting)'. Fees payable for the independent examination of the charlty's Einandal statements Deprecialion OÉ owned ts'bIe fixed a5ts 2,448 366 12 Tru8tees None of the Trustees lor any persons connected with them) recelved any remumeration or beneflts from the AlciatiOn during the year. 13 Employee* The overase monthly number of etnployees durkng the year wo5.. 2024 Number 2023 Nujnber Employment ¢05¢¥ 2024 2023 Wages al salaries Other pension costs 51lQ7 46,195 32 51149 There were no employees whose annual remutLeration was more than £,(M). -16-
FRINTON-ON-SEA COMMUNrrY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONfINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Employees (Continuedl Remuneratlon of key manasejnent personnel The remuneration of key managennt personnel wa5 as follow$: Agsreg&te compensation 31,9C 31,701 14 Taxation The charity is exempt from tsxotion OTh Its activities because au its Incon 1$ applted for eharitable puryoses. Tanslble fixed ¥JJet8 Freehold lnd FIxture• Compule and bulldln flitl Co•1 At l January 2024 Additions 150.848 24,024 174N2 1716 2,2B2 At31 December 2024 150 24A58 2,282 177,588 Depreclatlon and Impalrment At l January 2(f24 Depreciation tharged In the year 20,734 959 571 At31 Detember 2024 ,122 At 31 December 2024 150,848 3,336 I,ni 155A95 At31 December 2023 150 154,138 16 Fixed asset Invegtments Other Invegtments Cost or vaiuativn Atl January 2024 & 31 Dember 2024 At31 December 2024 At31 December 2018 -17-
FIUNTON-ON-SEA COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Fixed a85et Inveotjnents {Contlnuedl Other investments comprise: Note8 tnvestments in subsldiaries 17 Debt¢)rs 2023 Amounts falltn% due wlthln one ye. Trade debtorg Amounts owed by 8ub9idiary uDdertokln83 Other debtor5 Prepayments and accrued income 018 5,611 3,796 1490 i(n4 10,855 11223 2011 Amounlo fallln8 due After more than one year. Amounts owed by subsidiary uThdertakinss 6,912 12.162 TotAI debtor$ 17,767 24J85 18 Credltm 0t& falllns due wlthln one yeax 2023 Note8 Other taxation and social security Deferred income Trade creditors Other credltors AccnlS 15,305 9,808 1121 707 6,011 £147 4,913 3296 31,610 13.074 Deferred Income 1$ Included in the Einancial statements as follows: Memberships received In advan tS59512023.. fA228) Mot iThcome received ITh advance Q,16812023.. £1SC¥J) Room hire tlved in advance £1,045 (2023.. £1831 -18-
FIUNTON-ON-SEA COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 19 Re¢lrement benefit scheme Defintd ¢ontrAbulion schemes Charge to profit or10g5 in respect of defkned contributioThschemeg 42 32 The Association operates a defined contribution pension scheme for all qualify*ng employees. The a55ets of the Scheme are held separately from those of the Association in an independently administered fund. Restricted fund8 The restricted funds ol the charity comprise the unexpended balances of donatio and srants held on ttv5t subpct to specific condititsrLS by donors As to how they may be used. At l January 21Y24 Jncomlns rejource Resour¢e8 expended At31 December 2024 Tendring Conunwiity Fund 1endring Districtcounci Essex County Coundl The Eqsex AssociatioA ol Local Councib 3,173 1986) 11,OLYJ} 11,orM)} 150) Z187 13,0361 5,187 Prev10 year: Atljanuary 2023 Incomin8 r¢$ourye# Re8ouroes expended At31 December 2023 Tendring Communjty Fund Tendrins Districtcouncll The Essex AgsocRation of Local Councilg E55ex County Council Tendring DtrICt Council The Egsex knoeiatlon of Local Council$ 15,0(MJ 1,82TJ 3,173 {4txx>) l(KJ c4)) {550) 50 1,700 16A77 8213 The &bove grts have teen restricted by the funders to be used for $pecrfic capital refurbishmentprojects. -19-
FRINTON4)N-SEA COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENrs (coiwriNUED) FOR THE YEiR ENDED 31 DECEMBER 2024 21 Unregtrl¢ted hmds The vnrestrictsd funds of the charity comprise the unexp•ed balance5 of d¢)nations and grants which ore not subject to specific conditions by donors and grantorg as to how they may be used. These include designated funds wbich have been setAsRde out of unrestricted funds by the trnstees for $pecific purpose9. At l January Incomlns reaources ResuMr¢e8 expended At31 December 2024 General funds 224?27 169,289 1175,6351 217,981 Frevlou8 year,, At l Jknu•ry Incoming resouNes Re8ouY¢e8 expended At31 December 2023 General fund5 22£243 161,212 1161,128} 224227 Analysis of Tret AasetB between fund8 Unre8trl¢t¢d fund• Restricted fund• Total A131 December 2024: T3ngible assets InvE$tsneni8 Current assets/Oiabiiities} 153,178 In7 IS593 64,801 1470 67,2n 217,981 5,187 223,168 VDregtrlded funds 2023 Restrleted fndS Total 202J At 31 Decernber 21Y23: Tangible assets Inyestsnents Currentassets/(habilities) 154,138 154,138 70,187 78,410 224.327 8,223 231550 Related paty transadiuns
FRIwfoN-ON-SEA COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMEwfs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Related party tran8actions (Contlnued) During the period, Frinton Community Services Limited IF, dtsnated £nil12011.. £LI162) to the A5$0ciatson from whose premises it the community bar. No conditions are attsched to these donations. During the period, the Assoctation at80 received £Nil in seTvice charges fromFCS (2023.. a8,C4JOI. At the end of the period, the Association was owed by the company (2018.. £15,958). £rJ,912 of tbis balance is receivable over a course of 4 years in monthly I$talMentS of £250. The rernainder of the bjlance is unsecured and no conditions are fittad*d. Sub&ldlarlei DelalIs of the Association'$ subJidiarie$ ai 31 Deternr 2024 are as follows.. Ne OE undertaklns Re818tered offlce Nature of buJinei# Cla88 of Ihares held vlo Held Dlrecl Indirert Frinton Community ServrcesEnglathd and LiEnited Wales HpitalIty Ordinary loo.00 The aggregate capital and reservey and the regult for the year of subsidi&rie8 excluded from consolidation was as follow5.. Name of ttndertakln8 ProfltllLoJsl Capltal •nd Re#tr¥e• Frinton Conununity Servic¢¥ Limited 1884 118,995} -21-