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2024-02-29-accounts

Charity registration number 274712

Company registration number 03769694 (England and Wales)

GODMANCHESTER COMMUNITY ASSOCIATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

GODMANCHESTER COMMUNITY ASSOCIATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Michael Peter Westcott Rudd - Director
Alan Peter Hooker - Director
Nicola Rule - Director
Stephen Spencer - Director
Gordon Charles Allgood (Appointed 22 May 2023)
Secretary Michael Peter Westcott 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
Bankers Lloyds TSB Bank Plc
99 High Street
Huntingdon
Cambridgeshire
PE29 6DU

GODMANCHESTER COMMUNITY ASSOCIATION

CONTENTS

Page
Trustees report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 14

GODMANCHESTER COMMUNITY ASSOCIATION

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 29 FEBRUARY 2024

The Trustees present their annual report and financial statements for the year ended 29 February 2024.

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 £19,941 as at 29 February 2024 (2023 - £15,162).

Structure, governance and management

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.

GODMANCHESTER COMMUNITY ASSOCIATION

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2024

The Trustees report was approved by the Board of Trustees.

Alan Peter Hooker - Director

Trustee Dated: 27 November 2024

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 29 February 2024.

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:

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.

Graham Darbourne for and on behalf of

TC Group Brightfield Business Hub Bakewell Road Orton Southgate Peterborough Cambridgeshire PE2 6XU

Dated: 29 November 2024

GODMANCHESTER COMMUNITY ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 29 FEBRUARY 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Donations and legacies 3 8,247 5,445
Charitable activities 4 60,760 49,304
Investments 5 190 19
Total income 69,197 54,768
Expenditure on:
Charitable activities 6 59,363 57,091
Total expenditure 59,363 57,091
Net income/(expenditure) and movement in funds 9,834 (2,323)
Reconciliation of funds:
Fund balances at 1 March 2023 47,581 49,904
Fund balances at 29 February 2024 57,415 47,581

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

GODMANCHESTER COMMUNITY ASSOCIATION

BALANCE SHEET

AS AT 29 FEBRUARY 2024

Notes
Fixed assets
Tangible assets
11
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
The funds of the Charity
Unrestricted funds		 2024
£
55,513
(2,418)		 £
4,320
53,095
57,415
57,415
57,415
57,415		 2023
£
43,005
(1,569)		 £
6,145
41,436
47,581
47,581
47,581
47,581

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 29 February 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 2024

Alan Peter Hooker - Director

Trustee

Company registration number 03769694 (England and Wales)

GODMANCHESTER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

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.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 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.

1.2 Going concern

The financial statements have been prepared on a going concern basis.

1.3 Charitable funds

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 or grantors 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.

1.4 Income

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.

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.

GODMANCHESTER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

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 the statement of financial activities.

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.

GODMANCHESTER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2024

1 Accounting policies

(Continued)

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 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.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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
funds funds
2024 2023
£ £
Donations and legacies 8,247 5,445

GODMANCHESTER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2024

3
Donations and legacies
Donations and legacies
Bridge Magazine
Donations
4
Charitable activities		 (Continued)
3,845
3,605
4,402
1,840
8,247
5,445		 (Continued)
3,845
3,605
4,402
1,840
8,247
5,445
5,445
Unrestricted
Unrestricted
funds total funds total
2024 2023
£ £
November 5th 14,414 10,246
Picnic In The Park 17,840 13,520
Subscriptions 495 450
Gala Week 2,237 573
Club 800 18,823 18,726
Sundry Income 527 581
New Years Eve 1,145 1,200
Pollarding Society 1,750 1,600
Adult Fishing 370 325
Halloween 655 687
Duck Race 826 602
Carnival buckets 62 164
Race nights - 174
Easter Bunny 470 456
Comedy 1,146 -
60,760 49,304

GODMANCHESTER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2024

5 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 190 19
6 Charitable activities
New Years Eve
November 5th
Picnic In The Park
Gala Week
Club 800
Adult Fishing
Pollarding Society
Historic Steps
Halloween
Duck Race
Race nights
Easter Bunny
Comedy
Other charitable activities
Printing, postage and stationery
Insurance (Governance)
Accountancy fees (Governance)
AGM
Administration
Repairs and maintenance
Sundry expenses
Charitable donations
Depreciation of plant and machinery
Analysis by fund
Unrestricted funds		 Total
2024
£
1,200
8,861
17,659
1,587
17,105
370
831
-
218
268
-
436
1,420
134
3,805
1,113
1,026
244
269
237
739
16
1,825
59,363
59,363		 Total
2023
£
1,200
8,860
13,590
562
17,110
325
397
4,000
250
190
84
336
-
159
3,799
1,593
890
266
337
1,000
968
60
1,115
57,091
57,091

GODMANCHESTER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2024

7 Net movement in funds 2024 2023
£ £
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets 1,825 1,115

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:

2024 2023
Number Number
Total - -

There were no employees whose annual remuneration was £60,000 or more.

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

GODMANCHESTER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2024

11 Tangible fixed assets

Cost
At 1 March 2023
Disposals
At 29 February 2024
Depreciation and impairment
At 1 March 2023
Depreciation charged in the year
Eliminated in respect of disposals
At 29 February 2024
Carrying amount
At 29 February 2024
At 28 February 2023
12
Creditors: amounts falling due within one year
Notes
Deferred income
13
Accruals
13
Deferred income
Other deferred income		 Plant and equipment
£
13,413
(650)
12,763
7,268
1,825
(650)
8,443
4,320
6,145
2024
2023
£
£
1,428
669
990
900
2,418
1,569
2024
2023
£
£
1,428
669

Deferred income is included in the financial statements as follows:

GODMANCHESTER COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2024

Deferred income
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 March 2023
Released from previous periods
Resources deferred in the year
Deferred income at 29 February 2024
Warning! Figures do not agree by:		 (Continued)
2024
2023
£
£
1,428
669
669
-
(669)
-
1,150
669
1,150
669
278
-		 (Continued)
2024
2023
£
£
1,428
669
669
-
(669)
-
1,150
669
1,150
669
278
-
-
-
669
669
-

13 Deferred income

14 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 March Incoming Resources
At 29 February
At 29 February
2023 resources expended 2024
£ £ £ £
General funds 47,581 69,197 (59,363) 57,415
Previous year: At 1 March Incoming Resources
At 28 February
2022 resources expended 2023
£ £ £ £
General funds 49,904 54,768 (57,091) 47,581

GODMANCHESTER COMMUNITY ASSOCIATION

FOR THE YEAR ENDED 29 FEBRUARY 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

15 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.

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 29 February 2024, the earmarked reserves as included in the Trustees' Report are as follows:

Picnic In The Park - £1,982 (2023 - £1,982)

Friends of Picnic In The Park - £4,673 (2023 - £2,575)

Club 800 - £9,520 (2023 - £7,695)

NYE - £126 (2023 - £181)

Snowbell Walk - £494 (2023 - £494) Pollarders - £3,146 (2023 - £2,227)

Small Group Fund - £Nil (2023 - £8)

Total earmarked reserves - £19,941 (2023 - £15,162)

As of November 2023, Godmanchester Community Association (GCA) still await to see the results of their contribution to the historic river steps, an expense in prior year accounts. While an update on the project from Huntingdonshire District Council can be found on the link below, GCA will regularly request feedback to ensure efficient use of their funds and their return if ultimately not utilised.

https://www.huntingdonshire.gov.uk/people-communities/gmc-mill-project/

16 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).