2023-12-31-accounts - Kennet Valley Community Association

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KENNET VALLEY COMMUNITY ASSOCIATION

Registered Charity No. 285148 -

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

KENNET VALLEY COMMUNITY ASSOCIATION - Registered Charity No. 285148 -

TRUSTEEES AND ADVISORS

TRUSTEES

James Tull (Chairman) Karen Baldwin

SECRETARY

Melvyn Nuccol

MEMBERSHIP SECRETARY

Yvonne Birks

MEMBERS REPRESENTATIVES

Lucy Benson and Jeremy Jones

PRINCIPAL ADDRESS

The Holybrook Centre Holymead Fords Farm Reading RG31 7YT

ADVISORS

Independent Examiner

Chris Charlton Chris Charlton Ltd 29 Lower Golf Links Road Broadstone Dorset BH18 8BQ

BANKERS

Barclays Bank plc Mid Thames Group Reading Berkshire

CHARITY REGISTRATION NUMBER

285148

KENNET VALLEY COMMUNITY ASSOCIATION - Registered Charity No. 285148 -

REPORT OF THE TRUSTEES

The trustees submit their financial statements for the year ended 31 December 2023.

Legal Status

Kennet Valley Community Association is a registered charity with number 285148, governed by a Trust Deed dated 9 April 1979. The main objectives of the Association are the advancement of education and the provision of facilities in the interest of social welfare for recreation with the object of improving the living conditions of local inhabitants. The trustees have discretion to invest the monies of the charity as they see fit. When authorising the expenditure in respect of the above objectives, the trustees have considered the guidance from the Charity Commission on Public Benefit.

Governance

The Charity is managed by it's Trustees who meet monthly. New Trustees are recruited by advertising among the membership and are appointed by existing Trustees.

KVCA Charity Chairmans Report 2023

A steady year of consolidation and preservation of funds, with a reliance on grants and Donations, for which we are very grateful.

Various Charity donations were made including £2,000 to Duchess of Kent Hospice. Hall usage continues to be steady, with a new Pilates Group replacing the Karate Club. Weekend party bookings are continuing to be popular and hire income for the year has increased appreciably. Membership is down and there is still a lockdown hangover with regard to the social club usage, which is being addressed by the KVC committee. The electricity costs are, again, increased even though we have switched to a new Supplier. We will look again at the market to find a better deal.

Future projects include : Upgrade of CCTV and Security systems, upgrade of Broadband, further refurbishment and a feasibility study with regard to Solar panels to try and reduce Electricity charges.

All in all a reasonably sucessful year, only showing a loss due to asset depreciation, and we continue to provide a service to the Holybrook Parish Community.

Jim Tull Chairman

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KENNET VALLEY COMMUNITY ASSOCIATION

I report on the Accounts of the Association for the year ended 31 December 2023 which are set out on pages 4 to 6.

Respective responsibilitites of Trusteees and Examiner

As the Charity's Trustees, you are responsible for the preparation of the Accounts, you consider that the audit requirement of section 144 of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Chaity Commissioners under section 145(5)(b) of the Act, 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 Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the Accounts presented with those records. It also includes consideration of any unusual items or disclosures in the Accounts, and seeking explanations from you as Trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, I do not express an audit opinion on the view given by the Accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(a) which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance in section 130 of the Act, and
to prepare Accounts wich accord with the accounting records and to comply with the accounting requirements of the Act have not been met, or
(b) to which in my opinion, attention should be drawn in order to enable a proper understanding of the Accounts to be reached.

Chris Charlton Chris Charlton Ltd 29 Lower Golf Links road Broadstone Dorset BH18 8BQ

Date……………………………………………

KENNET VALLEY COMMUNITY ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR THE YEAR ENDED 31 DECEMBER 2023
INCOMING RESOURCES Annual membership fees Hire of hall Grants and donations Bank interest KVC income 50/50 apportion bills Net KVC profit/(loss) - 2019 2021 2022 Rent RESOURCES EXPENDED Business rates Cleaning and domestic Membership contribution to KVC Repairs and renewals Improvements to flooring Security Building insurance Trustee's insurance Legal and professional Bookkeeping Electricity Gas Water Telephone Postage and stationery Performing Rights Society Sundries Donations Depreciation TOTAL RESOURCES EXPENDED PROFIT/(DEFICIT) FOR THE YEAR	£ 10229 8840 353 6997 1120 8461 0 876 2838 317 485 1200 16458 2951 1116 985 66 398 45 2119 13037	2023 £ 3346 20554 6274 0 30174 19069 49243 59822 -10579	2022 £ 3437 14715 955 2
			19109
			5742 -5091 0 5277 8840
			14768
			33877
			611 7087 2278 10930 16798 2430 2527 0 535 1300 12657 1644 822 932 18 334 285 0 13037
			74225

			-40348

KENNET VALLEY COMMUNITY ASSOCIATION BALANCE SHEET

31 DECEMBER 2023

31 DECEMBER 2023
FIXED ASSETS Tangible assets (note 2) CURRENT ASSETS Debtors and prepayments Cash and bank balances - business tracker/premium - current CREDITORS:Amounts falling due within one year Creditors and accrued charges NET CURRENT ASSETS GENERAL FUND ACCUMULATED FUND Profit/(Deficit) for the year Approved by: J Tull ………………………………………………… K Baldwin …………………………………………………	£ 14263 935 15322 30520 1900 13095 -10579 ……………… ………………	2023 £ 62378 28620 90998 88482 2516 90998	2022 £ 75415
			13274 935 14116
			28325
			2163
			26162
			101577
			88482
			53443 -40348
			13095

			101577

KENNET VALLEY COMMUNITY ASSOCIATION - Registered Charity No. 285148 - NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1) Accounting Policies

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with applicable accounting standards.

Depreciation

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its estimated useful life, on the following basis:

2)

Buildings : 4% on cost Furnishings : 25% on cost Fixed Assets Buildings COST As at 1 January 2023 325912 Additions As at 31 December 2023 325912 DEPRECIATION As at 1 January 2023 250497 Charge for the year 13037 As at 31 December 2023 263534 NET BOOK VALUE As at 31 December 2023 62378 As at 31 December 2022 75415	Fixtures & Furnishings 32852 32852 32852 0 32852 0 0	TOTAL 358764 0
		358764
		283349 13037
		296386
		62378
		75415