## 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
1
## 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
2
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……………………………………………
3
## 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|
4
## 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|
|||||
5
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|
6