2024-12-31-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 2024

KENNET VALLEY COMMUNITY ASSOCIATION

Registered Charity No. 285148 -

TRUSTEEES AND ADVISORS

TRUSTEES

E J Tull (Chairman) K Baldwin S Roddy Y Birks

SECRETARY

Yvonne Birks

MEMBERSHIP SECRETARY

Lucy Benson

MEMBERS REPRESENTATIVES

Jeremy Jones and Geoff Marshall

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 2024.

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 2024

Another difficult year with KVC receipts still being below par. Hall bookings have been excellent, with having bar facilities being the key factor. However, having the bar brings with it high energy bills , mainly the electricity which is high due to the 24/7 nature of the facilities required (coolers etc). The implementation of solar panels for the building would appear to be the only way to reduce energy costs and KVCA are lobbying West Berks Council to assist financially with the project. All surveys have been completed and we await news fron the council.

All regular hall hirers are still in place - Scouts, Pilates, Bingo, Christ Embassy Church and Caterpillars Pre-School, which is helping us to just about stay on an even keel.

2025 is an important year and hopefully the Solar project will go ahead along with improved membership (flyers will be issued across the estates imminently) which will enable us to return to better fiscal results.

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 2024 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 2024

FOR THE YEAR ENDED 31 DECEMBER 2024
INCOMING RESOURCES Annual membership fees Hire of hall Grants and donations Bank interest KVC income 50/50 apportion bills Net KVC profit/(loss) - 2021 2022 2023 2024 Rent RESOURCES EXPENDED Business rates Cleaning and domestic Membership contribution to KVC Repairs and renewals 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	£ 12715 -4029 0 0 0 9010 204 6475 1188 6653 869 3796 264 545 1500 16043 2741 1396 1197 0 445 125 450 13037	2024 £ 2961 15009 250 20 18240 17696 35936 56928 -20992	2023 £ 3346 20554 6274 0
			30174
			10229 0 0 0 0 8840
			19069
			49243
			353 6997 1120 8461 876 2838 317 485 1200 16458 2951 1116 985 66 398 45 2119 13037
			59822

			-10579

KENNET VALLEY COMMUNITY ASSOCIATION BALANCE SHEET

31 DECEMBER 2024

31 DECEMBER 2024
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 …………………………………………………	£ 14938 955 4742 20635 -30 2516 -20992 ……………… ………………	2024 £ 49341 20665 70006 88482 -18476 70006	2023 £ 62378
			14263 935 15322
			30520
			1900
			28620
			90998
			88482
			13095 -10579
			2516

			90998

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

FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024 325912 Additions As at 31 December 2024 325912 DEPRECIATION As at 1 January 2024 263534 Charge for the year 13037 As at 31 December 2024 276571 NET BOOK VALUE As at 31 December 2024 49341 As at 31 December 2023 62378	Fixtures & Furnishings 32852 32852 32852 0 32852 0 0	TOTAL 358764 0
		358764
		296386 13037
		309423
		49341
		62378