Charity Registration No. 274712
Company Registration No. 03769694 (England and Wales)
GODMANCHESTER COMMUNITY ASSOCIATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022
GODMANCHESTER COMMUNITY ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Michael Peter Westcott Rudd - Director Alan Peter Hooker - Director Nicola Rule - Director Stephen Spencer - Director Michael Peter Westcott Secretary Rudd Charity number 274712 Company number 03769694 Principal address 19 St. Anns Lane Godmanchester Cambridgeshire PE29 2JE Registered office 19 St. Anns Lane Godmanchester Cambridgeshire PE29 2JE Independent examiner TC Group Brightfield Business Hub Bakewell Road Orton Southgate Peterborough Cambridgeshire PE2 6XU
GODMANCHESTER COMMUNITY ASSOCIATION
Bankers
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Lloyds TSB Bank Plc
99 High Street
Huntingdon
Cambridgeshire
PE29 6DU
CONTENTS
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| CONTENTS | |
|---|---|
| Page | |
| Trustees report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of fnancial activities | 4 |
| Balance sheet | 5 - 6 |
| Notes to the fnancial statements | 7 - 14 |
GODMANCHESTER COMMUNITY ASSOCIATION
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 28 FEBRUARY 2022
The Trustees present their report and financial statements for the year ended 28 February 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
Objectives and activities
The objects of the charity are to promote the benefits of the inhabitants of Godmanchester and the neighbourhood without the distinction of sex or political, religious or other opinions by associating the local authorities, voluntary organisations and inhabitants in a common effort to advance education and to provide facilities in the interest of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants.
The activities carried out during the year to meet with the charity's objectives were a gala day, Picnic in the Park event, bonfire night event, a carnival, barn dance and a concert. To support these events, subscriptions were received and the publication of "The Bridge" magazine to promote the events was produced.
Public benefit
In line with the charity's objectives and the detail above, a number of events are held for the local community.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Use of volunteers
Godmanchester Community Association benefit from the local community volunteering assistance at its events throughout the year. The number of volunteers can vary from year to year.
Achievements and performance
Financial review
Reserves are maintained to provide a reasonable cover for any unexpected costs or losses incurred and to cover costs. The trustees policy is to hold three years of outgoings for key activities that amount to approximately £10,000 per year. This is subject to a reserve limit of £29,000 after allowing for earmarked reserves, being £14,360 as at 28 February 2022 (2021 - £13,811).
Structure, governance and management
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GODMANCHESTER COMMUNITY ASSOCIATION
Godmanchester Community Association is a charity governed by Memorandum and Articles of Association constituted under a company limited by guarantee. It is registered as a charity with the English Charity Commission. The association commenced activities in January 1984 and became incorporated on 13 May 1999.
The charity is administered by a management committee consisting of members of the association. There are no paid employees. The members of the association are elected by current members to the Annual General Meeting. In addition, the elected members of the management committee may co-opt for an additional five persons, who are considered to make a valuable contribution to the running of the Charity by virtue of their skills and knowledge.
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2022
The Trustees report was approved by the Board of Trustees.
Alan Peter Hooker - Director
Trustee Dated: 27 November 2022
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GODMANCHESTER COMMUNITY ASSOCIATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF GODMANCHESTER COMMUNITY ASSOCIATION
I report to the Trustees on my examination of the financial statements of Godmanchester Community Association (the Charity) for the year ended 28 February 2022.
Responsibilities and basis of report
As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part
16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Mitchell Burden for and on behalf of
TC Group Brightfield Business Hub Bakewell Road Orton Southgate Peterborough Cambridgeshire PE2 6XU
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GODMANCHESTER COMMUNITY ASSOCIATION
Dated: 28 November 2022
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2022
| Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income from: Donations and legacies 3 4,916 - Charitable activities 4 54,761 - Investments 5 ~~2~~ - Total income Expenditure on: 59,679 Charitable activities Net incoming resources 6 55,733 - before transfers Gross transfers between 3,946 - funds 7,500 (7,500) Net income/ (expenditure) for the year/ Net movement in funds Fund balances at 1 11,446 (7,500) March 2021 Fund balances at 28 38,458 7,500 February 2022 49,904 - - |
Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 4,916 2,945 - 54,761 22,683 - ~~2~~ ~~109~~ - 59,679 25,737 55,733 24,365 601 3,946 1,372 (601) - (8,101) 8,101 3,946 (6,729) 7,500 45,958 45,187 - 49,904 38,458 7,500 - |
Total 202 1 £ 2,94 5 22,6 83 ~~109~~ |
|---|---|---|
| 25,7 |
||
| ~~37~~ 24,9 66 |
||
| 771 - |
||
| 771 45,1 87 |
||
| 45,9 58 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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GODMANCHESTER COMMUNITY ASSOCIATION
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. BALANCE SHEET
AS AT 28 FEBRUARY 2022
| Fixed assets Notes Tangible assets Current assets 10 Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Income funds Restricted funds 13 Unrestricted funds |
2022 £ - 49,627 49,627 (850) |
£ 1,127 48,777 49,904 - 49,904 49,904 |
2021 £ 7,500 38,871 46,371 (937) |
£ 524 45,4 |
|---|---|---|---|---|
| ~~34~~ 45,9 |
||||
| ~~58~~ 7,50 0 38,4 ~~58~~ |
||||
| 45,9 |
||||
| ~~58~~ |
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2022
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 28 February 2022.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
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GODMANCHESTER COMMUNITY ASSOCIATION
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 27 November 2022
Alan Peter Hooker - Director
Trustee
Company Registration No. 03769694 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022
1 Accounting policies
Charity information
Godmanchester Community Association is a private company limited by guarantee incorporated in England and Wales. The registered office is 19 St. Anns Lane, Godmanchester, Cambridgeshire, PE29 2JE.
1.1Accounting convention
The financial statements have been prepared in accordance with the Charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2Going concern
The financial statements have been prepared on a going concern basis.
1.3Charitable funds
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GODMANCHESTER COMMUNITY ASSOCIATION
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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GODMANCHESTER COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2022
(Continued)
- 1 Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Accounting policies
1.5 Expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance and straight line per annum
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Impairment of fixed assets
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
1 Accounting policies
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where
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FOR THE YEAR ENDED 28 FEBRUARY 2022
GODMANCHESTER COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
(Continued)
the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not 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 from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| Unrestricted | funds | |
| funds | ||
| 2022 | 2021 | |
| £ | £ | |
| Donations and legacies | 4,916 | 2,945 |
| Donations and legacies | ||
| Bridge Magazine | 3,395 | 2,945 |
| Donations | 1,521 | - |
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GODMANCHESTER COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2022
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(C ontin ued)
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4,916 2,945
3Donations and legacies
Godmanchester Community Association (GCA) see dredging the Mill Lade as an essential project that no authority would previously undertake. In 2019, GCA had undertaken to fulfil the project funding it up front from reserves, with The Looker Foundation having guaranteed to reimburse GCA over four years. In 2019 £15,000 was received. An accrued amount of £7,500 was provided in the comparative year in support of this.
As a result of the above, the local Town Council has agreed to set funds aside to repeat the dredging operation every five years.
GCA will be disposing of the resultant silt by spreading over the recreation ground using a contractor. These addtional costs will be supported by Club 800 and other donations. 4 Charitable activities
| Unrestricted | |||
|---|---|---|---|
| Unrestricted | |||
| funds total | funds | ||
| total | |||
| 2022 | 2021 | ||
| £ | £ | ||
| November 5th | 13,836 | - | |
| Picnic In The Park | 16,269 | 1,750 | |
| Subscriptions | 30 | 330 | |
| Gala Week | 1,475 | 27 | |
| Club 800 | 17,575 | 15,210 | |
| Sundry Income | 35 | 604 | |
| New Years Eve | 196 | 910 | |
| Historic Steps | 2,000 | 2,000 | |
| Pollarding Society | 1,500 | 1,240 | |
| Adult Fishing | 738 | - | |
| Halloween | 455 | - | |
| Duck Race | 652 | - | |
| Small Group Fund | - | 612 | |
| 54,76 | 22,68 | ||
| ~~0~~ | ~~3~~ |
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GODMANCHESTER COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2022
5 Investments
| Unrestricted | ||
|---|---|---|
| Unrestricted | ||
| fundsfunds | ||
| 2022 | 2021 | |
| £ | £ | |
| Interest receivable | 2 | 109 |
6 Charitable activities
| Total 2022 £ Mill Lade Dredging - New Years Eve 1,298 November 5th 9,369 Picnic In The Park 14,860 Gala Week 2,346 Club 800 17,177 Friends Of Picnic In The Park - Adult Fishing 738 Pollarding Society 1,540 Historic Steps 221 Halloween 233 Duck Race 114 Other charitable activities 122 Printing, postage and stationery 2,763 Insurance (Governance) 721 Accountancy fees (Governance) 793 Administration 309 Sundry expenses 1,084 Charitable donations 1,460 Depreciation of plant and machinery 528 Analysis by fund Unrestricted funds 55,676 |
Tot al 202 1 £ 601 - - 219 - 16,25 4 54 - 862 990 - - - 3,38 9 834 793 157 469 30 314 |
|---|---|
| 24,3 |
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GODMANCHESTER COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2022
| Restricted funds 7 Net movement in funds Net movement in funds is stated after charging/(crediting) Depreciation of owned tangible fxed assets |
- 2022 £ 528 |
65 601 |
65 601 |
|
|---|---|---|---|---|
| 20 21 £ 31 4 |
8 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
9 Employees
The average monthly number of employees during the year was:
| 2022 | 2021 | ||
|---|---|---|---|
| Number | Number | ||
| Total | - | - | |
| There were no employees whose annual remuneration was | |||
| £60,000 or more.10 | Tangible fxed assets | ||
| Plant and | equipment | ||
| £ | |||
| Cost | |||
| At 1 March 2021 | 6,149 | ||
| Additions | 1,131 | ||
| At 28 February 2022 | 7,280 | ||
| Depreciation and impairment | |||
| At 1 March 2021 | 5,625 | ||
| Depreciation charged in the year | 528 | ||
| At 28 February 2022 | 6,153 | ||
| Carrying amount |
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GODMANCHESTER COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2022
| At 28 February 2022 At 28 February 2021 11 Debtors Amounts falling due within one year: Prepayments and accrued income 12 Creditors: amounts falling due within one year Accruals and deferred income |
1,127 2022 20 21 £ £ - 7,50 0 2022 20 21 £ £ 850 93 7 52 ~~4~~ |
1,127 2022 20 21 £ £ - 7,50 0 2022 20 21 £ £ 850 93 7 52 ~~4~~ |
|---|---|---|
| 20 21 £ 93 7 |
13 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Balance | Balance | Resources | Transfers | Transfers | Transfer | Transfer | Balance | Balance | |
|---|---|---|---|---|---|---|---|---|---|
| at 1 | March | expended | Balance at | s | at 28 | ||||
| 2020 | 1 March | February | |||||||
| 2021 | |||||||||
| £ | £ | £ | £ | £ | 2022£ | ||||
| Dredging Mill Lade | (7,500 | ||||||||
| project | - | 601 | 8,101 | 7,500 | ) | - |
Restricted funds relate to the Dredging Mill Lade project for which the majority work has already been undertaken. The Looker Foundation guaranteed to reimburse the Charity over four years with the final contribution payment in the current period.
14 Unrestricted funds
Godmanchester Community Association receives donations and contributions for a number of events to be held in the current year and for future planned events.
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GODMANCHESTER COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2022
Some of these funds, although not restricted in their nature, are designed by the Trustees for the provision of events that follow the current year end.
As at 28 February 2022, the earmarked reserves as included in the Trustees' Report are as follows:
Picnic In The Park - £1,982 (2021 - £1,982)
Friends of Picnic In The Park - £336 (2021 - £274)
Club 800 - £6,280 (2021 - £5,882)
Amphitheatre - £276 (2021 - £204)
NYE - £181 (2021 - £1,283)
Snowbell Walk - £511 (2021 - £511) Pollarders - £1,024 (2021 - £1,064)
Historic Steps - £3,779 (2021 - £2,000)
Small Group Fund - £(8) (2021 - £612)
Total earmarked reserves - £14,361 (2021 - £13,811)
15 Analysis of net assets between funds
| Analysis of net assets between funds |
||
|---|---|---|
| Unrestricted Restricted funds funds 2022 2022 Fund balances at 28 February 2022 are represented by: £ £ Tangible assets Current 1,127 - assets/(liabilities) 48,777 - 49,904 - |
Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 1,127 524 - 48,777 37,934 7,500 49,904 38,458 7,500 |
Total 202 1 £ 524 45,4 34 |
| 45,9 58 |
16Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
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GODMANCHESTER COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2022
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