Charity registration number 279464
LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr D Meechan | |
|---|---|---|
| Mr S Harris | ||
| Mrs S Norman | ||
| Mrs N Petrie | ||
| Mr P Bullock | ||
| Mrs C Rutherford | ||
| Mr L Moyle | ||
| Mrs R Foster | (Appointed 6 May 2023) | |
| Mr C Greenway | (Appointed 13 November 2023) | |
| Charity number | 279464 | |
| Principal address | Church Road | |
| Longlevens | ||
| Gloucester | ||
| GL2 0AJ | ||
| Independent examiner | Griffiths Marshall | |
| 4th Floor | ||
| Llanthony Warehouse | ||
| The Docks | ||
| Gloucester | ||
| Gloucestershire | ||
| GL1 2EH |
LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 - 12 |
LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2023
The trustees present their annual report and financial statements for the year ended 31 October 2023.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
Objectives and activities
The charity's objects remain the same to provide facilities in the interests of social welfare for recreational and leisure time occupation. To ensure a strong association that benefits all members and is something that residents of Longlevens can be proud of.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Some of the activities available at the Community Centre are:
Creative Kids breakfast and after school club
Brownies
Guides
Nova Combat mixed martial arts
Various fitness groups including pregnancy yoga, Pilates, active seniors and Fit for Life ( a fitness group aimed at older people and helping with balance and remaining active)
Phonics and messy play classes
Table tennis / darts / skittles
Community food swap
Meetings for various ethnic groups
Ukelele group
Wakes
Private parties including birthdays, christenings, baby showers,
Achievements and performance
The association recorded a surplus for the year.
- During this year cash donations were made to:
Ukraine Medical Supplies
My Longlevens LNP
-
A defibrillator was purchased for Longlevens AFC
-
Food was paid purchased for the wake of a long term member’s funeral.
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
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LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
Funds above the level mentioned above have been moved into the Charity ‘maintenance’ bank account in order for the Community Centre to refurbish the toilet block used by the breakfast and after school club and to demolish and rebuild a new cellar for the bar area.
Maintenance costs this year included the usual general repairs and upkeep of the property as well as some
larger projects:
-
Converting a small kitchen into another bar to service the main hall
-
Replacing the electrical supply which ran from the school with an independent supply
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Adding a disabled bay to the car park
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Replacing and extending the patio are in the garden
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Replacing the broken fence at the rear of the garden area
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity was established by a charitable trust deed on 27 February 1980.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr D Meechan
Mr D Evans (Resigned 29 September 2023) Mr S Harris Mrs S Norman Mrs N Petrie Mr P Bullock Mrs C Rutherford Mr L Moyle Mrs R Foster (Appointed 6 May 2023) Mr C Greenway (Appointed 13 November 2023)
The trustees carry out the management of the association.
Auditor
In accordance with the company's articles, a resolution proposing that Griffiths Marshall be reappointed as auditor of the company will be put at a General Meeting.
The trustees' report was approved by the Board of Trustees.
Mr D Meechan
Chairperson Dated: 29 July 2024
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LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
I report on the financial statements of the charity for the year ended 31 October 2023, which are set out on pages 4 to 12.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the financial statements. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination being a qualified member of ICAEW.
It is my responsibility to:
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(i) examine the financial statements under section 145 of the 2011 Act;
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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(iii) to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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(i) to keep accounting records in accordance with section 130 of the 2011 Act; and
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(ii) to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act;
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have not been met or
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(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Ian Price
Griffiths Marshall 4th Floor Llanthony Warehouse The Docks Gloucester Gloucestershire GL1 2EH
Dated: 29 July 2024
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LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2023
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 2 | - | 13,343 |
| Charitable activities | 3 | 482,743 | 450,853 |
| Total income | 482,743 | 464,196 | |
| Expenditure on: | |||
| Charitable activities | 4 | 470,514 | 429,971 |
| Total expenditure | 470,514 | 429,971 | |
| Net income and movement in funds | 12,229 | 34,225 | |
| Reconciliation of funds: | |||
| Fund balances at 1 November 2022 | 247,309 | 213,084 | |
| Fund balances at 31 October 2023 | 259,538 | 247,309 |
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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LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023
| Notes Fixed assets Property, plant and equipment 8 Current assets Inventories 9 Trade and other receivables 10 Cash at bank and in hand Current liabilities 12 Net current assets Total assets less current liabilities Non-current liabilities 13 Net assets Income funds Unrestricted funds |
2023 £ 16,071 25,880 102,225 144,176 (67,847) |
£ 199,042 76,329 275,371 (15,833) 259,538 259,538 259,538 |
2022 £ 14,101 9,949 113,839 137,889 (63,612) |
£ 198,865 74,277 273,142 (25,833) 247,309 247,309 247,309 |
|---|---|---|---|---|
The financial statements were approved by the Trustees on 29 July 2024
Mr D Meechan Mrs R Foster Trustee Secretary
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LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
1 Accounting policies
Charity information
Longlevens (Gloucester) Community Association is a registered charity with charity number 279464.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, 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 have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
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
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
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.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Incoming resources
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.
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LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
1 Accounting policies
(Continued)
1.5 Resources expended
Resources expended are recognised in the period they are incurred.
1.6 Property, plant and equipment
Property, plant and equipment 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:
Land and buildings Nil Equipment 20% reducing balance Fixtures & fittings 20% reducing balance CCTV 20% reducing balance
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 non-current 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 Inventories
Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
1.9 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.
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include trade and other receivables 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.
Basic financial liabilities
Basic financial liabilities, including trade and other payables 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 payables 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 payables 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.
1.11 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 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Gloucester City Council | - | 13,343 |
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LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
3 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Bar income | 406,335 | 405,976 |
| Membership | 3,092 | 3,212 |
| Rental income | 34,239 | 26,765 |
| Other income | 39,077 | 14,900 |
| 482,743 | 450,853 |
4 Charitable activities
| Charitable | Charitable |
|
|---|---|---|
| Expenditure | Expenditure | |
| 2023 | 2022 | |
| £ | £ | |
| Staff costs | 95,382 | 108,385 |
| Depreciation and impairment | 9,769 | 9,724 |
| Purchases | 215,117 | 228,118 |
| Rates & water | 4,437 | 1,643 |
| Heat & light | 19,043 | 12,287 |
| Insurance | 4,755 | 4,521 |
| Repairs & maintenance | 54,264 | 15,881 |
| Cleaning | 14,609 | 4,920 |
| Phone & internet | 594 | 835 |
| Printing, postage, stationery & computer | 678 | 938 |
| Equipment hire | 1,691 | - |
| Bank charges | 15,662 | 18,183 |
| Licences | 10,778 | 8,744 |
| Other professional fees | 1,891 | 3,567 |
| Accountancy | 17,760 | 8,860 |
| Advertising | 2,285 | 2,215 |
| Other costs | 1,799 | 1,150 |
| 470,514 | 429,971 | |
| 470,514 | 429,971 |
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LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
| 5 Net movement in funds The net movement in funds is stated after charging/(crediting): Depreciation of owned property, plant and equipment 6 Employees The average monthly number of employees during the year was: Employment costs Wages and salaries |
2023 £ 9,769 2023 Number 7 2023 £ 95,382 |
2022 £ 9,724 |
|---|---|---|
| 2022 Number 10 |
||
| 2022 £ 108,385 |
During the year one trustee was paid a total of £15,000 for services provided to the charity, and another trustee was paid £547 for catering provisions.
There were no employees whose annual remuneration was more than £60,000.
7 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
8 Property, plant and equipment
| Cost At 1 November 2022 Additions At 31 October 2023 Depreciation and impairment At 1 November 2022 Depreciation charged in the year At 31 October 2023 Carrying amount At 31 October 2023 At 31 October 2022 |
Land and buildings Equipment Fixtures & fittings £ £ £ 159,966 52,450 98,149 - 1,279 5,037 159,966 53,729 103,186 - 37,075 75,220 - 3,331 5,593 - 40,406 80,813 159,966 13,323 22,373 159,966 15,375 22,930 |
CCTV £ 6,925 3,631 10,556 6,331 845 7,176 3,380 594 |
Total £ 317,490 9,947 |
|---|---|---|---|
| 327,437 | |||
| 118,626 9,769 |
|||
| 128,395 | |||
| 199,042 | |||
| 198,865 |
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LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
- 8 Property, plant and equipment
(Continued)
Investment properties rented to another group entity have been accounted for using the cost model. The carrying value of these investment properties included within £159,966 (2022- £159,966).
9 Inventories
| Finished goods and goods for resale 10 Trade and other receivables Amounts falling due within one year: Trade receivables Other receivables Prepayments and accrued income 11 Borrowings Bank loans Payable within one year Payable after one year 12 Current liabilities Notes Bank loans 11 Other taxation and social security Trade payables Other payables Accruals and deferred income |
2023 £ 16,071 2023 £ 9,521 3,400 12,959 25,880 2023 £ 25,833 10,000 15,833 2023 £ 10,000 17,099 34,692 1,160 4,896 67,847 |
2022 £ 14,101 |
|---|---|---|
| 2022 £ 4,511 4,363 1,075 |
||
| 9,949 | ||
| 2022 £ 35,833 |
||
| 10,000 25,833 |
||
| 2022 £ 10,000 15,353 33,724 610 3,925 |
||
| 63,612 |
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LONGLEVENS (GLOUCESTER) COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
13 Non-current liabilities
| Non-current liabilities | |||
|---|---|---|---|
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Bank loans | 11 | 15,833 | 25,833 |
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 November 2022 Incoming resources Resources expended At 31 £ £ £ General funds 247,309 482,743 (470,514) Previous year: At 1 November 2021 Incoming resources Resources expended At 31 £ £ £ General funds 213,084 464,196 (429,971) |
October 2023 £ 259,538 |
|---|---|
| October 2022 £ 247,309 |
15 Contingencies
During the year 2013 the Association purchased the Freehold Land from Gloucester County Council for £50,000. In the contract it was agreed that in the event of a subsequent sale of the land by the Association then this would trigger a payment of £12,500 back to Gloucester County Council.
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