SOUTH WIMBLEDON COMMUNITY ASSOCIATION
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] DECEMBER 2024
Charity Registration No: 0285705
SOUTH WIMBLEDON COMMUNITY ASSOCIATION LEGAL AND ADMINISTRATIVE DETAILS YEAR ENDED 31ST DECEMBER 2024
Trustees:
MR MARTIN LAKE (CHAIR) MR IAN HEPPELL (VICE-CHAIR) MS JUNE HAYLES (TREASURER) MR ANDY COLES (SECRETARY) MR BERT KENNEDY MRS PHILOMENA KENNEDY MR HARRY TODD MS PAULINE COWPER MR MIKE BRUNT MR THANABALASINGAM RATNAVADIEVEL MR JAMES CONGRAVE
Office Manager: Kate Holmes, Caretakers: Keith Bernard, Derek Bernard (resigned 2[nd] March 2025), Mohamed Loukrichi (from 3[rd] April 2025).
Correspondence Address: 78 Victory Road London SW19 1HN
Principal Bankers: Barclays Bank PLC, Nationwide Building Society, Virgin Money.
SOUTH WIMBLEDON COMMUNITY ASSOCIATION
78 Victory Road Wimbledon SW19 1HN
Charity Number: 0285705 Telephone: 020 8540 4539 Website: www.southwimbledoncommunity.com Email: swcacommunity@btconnect.com
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SOUTH WIMBLEDON COMMUNITY ASSOCIATION ANNUAL REPORT YEAR ENDED 31ST DECEMBER 2024
The Board of Trustees of the Association present their Annual Report and the Financial Statements of the Charity for the Year Ended 31st December 2024
INTRODUCTION
South Wimbledon Community Association is a registered Charity (No. 0285705).
OBJECTS
To further or benefit the residents of South Wimbledon and the surrounding area, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents.
In the furtherance of this objective the Association hires room facilities, to predominantly local groups, from three locations in South Wimbledon.
The Board of Trustees has considered the Charity Commission’s guidance on public benefit & is of the opinion that the Association is fully compliant.
GOVERNANCE
The Association is governed by a written Constitution which has been approved by the Charity Commission. The Board of Trustees are all subject to re-election at the Annual General Meeting.
They have control of the charity and its funds. Potential Trustees with local knowledge or expertise along with representatives of user groups are encouraged to seek election to the board. The aim is to achieve a diverse range of individuals who can make a positive contribution.
FINANCES
Income and Expenditure during the year amounted to £77,498 & £85,271 respectively.
RESERVES POLICY
The Board of Trustees believe that the Charity needs Reserves of at least £120,000. This to provide the charity with adequate financial stability to achieve its objectives for the foreseeable future, and to meet commitments in case of unexpected fall in income.
The attached financial statements show the current state of the charity’s finances. The Charity’s bankers are Barclays Bank Plc, Leicester, LE87 2BB; Virgin Money, Jubilee House, Newcastle upon Tyne, NE3 4PL and Nationwide Building Society, Pipers Way, SN38 1NW.
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RISK ASSESSMENT
The Trustees continually review the controls and procedures throughout the organisation, to minimize external and internal risk. The organisation has adequate indemnity insurance.
THANKS
The Board of Trustees would like to thank Merton Council, and everyone involved with the Charity for all their support and help throughout the year.
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SWCA CHAIR’S REPORT YEAR ENDED 31[st] DECEMBER 2024
To start on a bright note, I am happy to report that the Association continues to perform its intended functions and that there were no significant operational issues to report. Client satisfaction appears to be high judging from feedback received.
However, 2024 saw another difficult year in regard to the financial situation. The financial statement which will cover this in more detail shows that revenues were not sufficient to meet our expenditures for the second consecutive year. Our only source of income is from client booking fees whilst our expenses, mainly on staff costs, utilities and supplies, are largely fixed regardless of client use. Also, most expense items are understandably increasing year on year. The situation in 2024 is in spite of a 9% increase in hire charges for that year. The position so far in 2025 is similar even after a further 10% increase to hire rates for this year. It is highly likely therefore that we will have to make another increase in hire charges for next year. Efforts are being made to try to attract additional users mainly through new advertising and also to reduce some costs in areas such as suppliers and cleaning. Your Association still offers very good value and thanks largely to our staff continues to provide an excellent facility for all our activities.
In early 2025 we welcomed a new caretaker Mohamed and thanked the previous incumbent Derek for his service. On the subject of personnel there is still room for one additional trustee should a volunteer come forward. We are especially keen to hear from anyone who wishes to gain experience at helping to run a small charity like ours.
Finally, I would like to record once again my thanks and appreciation to my fellow trustees, our staff (Kate, Keith and Mohamed) and all our clients for their valued and ongoing support.
Martin Lake, Chair SWCA, July 2025.
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SOUTH WIMBLEDON COMMUNITY ASSOCIATION FINANCIAL REPORT YEAR ENDED 31[ST] DECEMBER 2024
The financial outcome for 2024 has seen some improvement for our Community Association with a loss of £7,773 against £12,668 experienced in 2023. However, it is disappointing that another loss has to be reported. An increase in Bookings has definitely helped. but money received has again been unable to keep pace with the increase in operational costs.
The decrease in our loss this year reflects our ongoing efforts to manage costs and increase efficiency, despite facing several external pressures. All service costs are essential to the facilities offered, but all continue to rise. Cleaning and Waste Removal this year both show an increase. Heat & Lighting does show a marked fall. I would warn against seeing this as a continuing trend though, as this is due somewhat to a dramatic reduction in monthly payments to British Gas for a period when our account was in credit. Additionally, this year, rising National Insurance (NI) contributions have contributed to higher staffing costs overall.
On salaries, we remain committed to paying the London Living Wage, along with the associated NI and pension contributions. While this is a considerable cost for a small Association, we believe the continuity and dedication of our staff are invaluable. We particularly recognise the ongoing contribution of Kate Holmes in the office, and the customer service delivered by our caretakers, Keith, Derek until March of this year, and now Mohamad. Their assistance is frequently praised by clients.
Maintaining cleanliness and high standards remains a priority despite rising service costs. Through close monitoring of cleaning needs and usage patterns, Kate continues to balance high standards with cost efficiency maintaining high standards expected by our members and visitors whilst minimizing costs.
Looking forward to 2025 : At the end of 2024, our reserves stood at £187,952, down from £192,806 at the end of 2023. Though we are experiencing a second year of loss the Trustees are satisfied that robust financial controls remain in place, and that the Association continues to be well respected in the community and can be adequately resourced to provide its valued services. Looking ahead, we will continue to work towards financial sustainability through proactive management and strategic negotiations.
We thank you for your continued support.
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------------------------June Hayles Treasurer, SWCA September 2024
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THE SOUTH WIMBLEDON COMMUNITY ASSOCIATION BOARD OF TRUSTEES RESPONSIBILITIES YEAR ENDED 31ST DECEMBER 2024
The Board of Trustees are required to prepare a statement of accounts for each financial year that give a true and fair view of the state of affairs of the charity at the end of the financial year and of the income resources and application of resources in the year. In preparing the statement, the Board of Trustees are required to:
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a. Select suitable accounting policies and apply them consistently.
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b. Make judgments and estimates that are reasonable and prudent.
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c. State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the statement of accounts.
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d. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the ‘Charity’ will continue its operations. The Board of Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the ‘Charity’ at that time and to enable the Board of Trustees to ensure that any statement of account prepared by them complies with the regulations. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities
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SOUTH WIMBLEDON COMMUNITY ASSOCIATION INDEPENDENT REVIEW YEAR ENDED 31ST DECEMBER 2024
I report on the accounts for the Charity for the year ended 31st December 2024 which is set out on the following pages.
This review is made solely to the Board of Trustees of South Wimbledon Community Association as a body. My review has been undertaken so that I might state to the Board of Trustees, those matters I am required to state to them in a review and for no other purpose. To the fullest extent permitted by law I do not accept or assume responsibility to anyone other than the charity and the Board of Trustees as a body for my review, for this report or for the opinions I have formed.
Respective Responsibilities of the Trustees
As the Board of Trustees, you are responsible for the preparation of the financial statements.
Basis of Independent Report
A review 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 any explanations from you as the Board of Trustees, concerning any 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 statement
In connection with my review, no other matter has come to my attention:
- Which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records have not been met.
or
- To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
P Okusi Independent Examiner Thompson & Co Vestry Hall Mitcham CR4 3UD
Date: ……………
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| SOUTH WIMBLEDON COMMUNITY ASSOCIATION | SOUTH WIMBLEDON COMMUNITY ASSOCIATION | SOUTH WIMBLEDON COMMUNITY ASSOCIATION | SOUTH WIMBLEDON COMMUNITY ASSOCIATION | |||
|---|---|---|---|---|---|---|
| RECEIPTS & PAYMENTS SUMMARY | ||||||
| 1ST JANUARY 2024 - 31ST DECEMBER 2024 | ||||||
| 2024 | 2023 | |||||
| GBP | GBP | |||||
| Income Received | ||||||
| Hall Hire(less deposit) | 76,168 | 67,460 | ||||
| LB Merton Grant | 0 | 3,130 | ||||
| Membership | 90 | |||||
| Investment - Interest Received | 1,330 | 1,507 | ||||
| 77,498 | 72,187 | |||||
| Expediture | ||||||
| Bank Charges | 416 | 432 | ||||
| Cleaning | 13,772 | 13,151 | ||||
| Commission Payment | 264 | 420 | ||||
| Insurance | 1,378 | 1,434 | ||||
| Light & Heat | 4,850 | 7,829 | ||||
| Castle Water | 2,761 | |||||
| Maintenance | 497 | 4,512 | ||||
| Office & Sundry | 2,175 | 1,007 | ||||
| Professional Fees | 395 | 395 | ||||
| Staff | 54,087 | 51,548 | ||||
| Telephone | 1,987 | 1,419 | ||||
| Volunteer Expenses | 13 | 321 | ||||
| Waste Removal | 2,357 | 2,114 | ||||
| Website | 320 | 273 | ||||
| 85,271 | 84,855 | |||||
| Net Loss/gain for theyear | -7,773 | -12,668 | ||||
| We approve these accounts and confirm that we have made available all records and | ||||||
| information necessaryfor theirpreparation. | ||||||
| ……………………………………………………………...… | ||||||
| June Hayles | ||||||
| For and on behalf of the Board of Trustees | ||||||
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| SOUTH WIMBLEDON COMMUNITY ASSOCIATION | ||||||||
| STATEMENT OF ASSESTS AND LIABILITIES | ||||||||
| 1ST JANUARY 2024 - 31ST DECEMBER 2024 | ||||||||
| Unresticted | Total 2024 | Total 2023 | ||||||
| GBP | GBP | GBP | ||||||
| Fixed Assests | ||||||||
| Current Assests | ||||||||
| Debtors | ||||||||
| Cash at bank | 187,952 | 187,952 | 192,806 | |||||
| 187,952 | 187,952 | 192,806 | ||||||
| Current Liabilities | ||||||||
| Creditors | Deposits | 2,100 | 2,100 | 1,600 | ||||
| Castle Water | - | - | 2,667 | |||||
| Total Assests Less Liabilities | 185,852 | 185,852 | 188,539 | |||||
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SOUTH WIMBLEDON COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2024
ACCOUNTING POLICIES
1. Basis of accounting
The financial statements have been prepared under Receipts and Payments basis and in accordance with applicable accounting standards and Statement of Recommended Practice
2. Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the objectives of the charity. Restricted funds are subjected to restrictions on their expenditure imposed by the donor
3. Transactions with Trustees
No remuneration was paid to Trustees. Trustees are reimbursed expenses incurred on behalf of the charity in furtherance of the charity’s objectives.
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