OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 1825717 REGISTERED CHARITY NUMBER: 289734

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2025 For CENTRECOM LIMITED (LIMITED BY GUARANTEE)

PKW Accountancy Ltd Second Floor 1 Church Square Leighton Buzzard Bedfordshire LU7 1AE

CENTRECOM LIMITED

Contents of the Financial Statements for the Year Ended 31 March 2025

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5 to 6
Notes to the Financial Statements 7 to 10

CENTRECOM LIMITED

Report of the Trustees for the Year Ended 31 March 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (revised October 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Incorporation

The company is a charitable company limited by guarantee, governed by a memorandum and articles of association.

Objectives

The company was established with the principal objective of the management and administration of ‘Centrecom’, a community hall in Milton Keynes. No significant changes are planned for the future. In setting our objectives the trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and in their opinion the charity meets this criteria.

Financial review

Reserves policy

The charity's policy is to hold enough reserves for the day-to-day running of the charity together with a reserve for potential future maintenance of the building. As at 31 March 2025 the charity held unrestricted reserves totalling £46,208.

Hall lettings increased to £46,395 (2024 - £38,200) and total unrestricted expenditure decreased to £34,977 (2024 - £41,612). Restricted grants of £17,496 were received (2024 - £8,530). The resulting unrestricted surplus for the year amounted to £12,439 (2024 deficit - £3,084). The financial position at the year end set out on the Balance Sheet shows unrestricted reserves of £49,208 (2024 - £36,769). Unrestricted reserves are required in order that obligations can be met as they fall due.

Structure, governance and management

Governing document

The organisation is charitable company limited by guarantee, incorporated on 18 June 1984 and registered as a charity on 2 July 1984. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute such amounts as may be required not exceeding £1.

Recruitment and appointment of Trustees

The Directors of the company are also charity Trustees for the purposes of charity law. Recruitment is from the user groups of the Centrecom community hall.

Major Risks

No major risks facing the Charity has been identified.

1

CENTRECOM LIMITED

Report of the Trustees For the year ended 31 March 2025

Principal and registered office 602 North Row
Secklow Gate West
Milton Keynes
MK9 3BJ
Bankers Lloyds TSB plc
28 Secklow Gate West
Milton Keynes
MK9 3EH
Independent Examiners Paul K West FCA
PKW Accountancy Limited
Second Floor
1 Church Square
Leighton Buzzard
Beds
LU7 1AE
Company Registration Number 1825717
Charity Registration Number 289734
Trustees J Spalding (Chairperson) M Weston
P Cranfield C Connell
N Davda C Comeford
G Petts (resigned 23.4.24) L Clack (appointed 29.4.25)
B Baker D Hopcroft (appointed 3.4.25)
J Jolly
C Parish
Company Secretary P Cranfield
Manager B Cranfield

The Trustees annual report was approved on 6 June 2025 and signed on behalf of the board of Trustees by:

P Cranfield

2

INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF

CENTRECOM LIMITED

_________________

I report on the accounts of the charitable company for the year ended 31 March 2025, which are set out on pages 4 to 9.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purpose of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 and that an independent examination is needed.

Having been satisfied that the charity is not subject to audit under company law and is eligible for independent examination it is my responsibility to:

Basis of independent examiners’ 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 accounts presented with those records. It also includes consideration of an unusual items or disclosures in the accounts, and the seeking of 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 accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiners’ statement

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

  1. which gives me reasonable cause to believe that, in any material respect, the requirements:

  2. to keep accounting records in accordance with s386 of the Companies Act 2006; and

  3. to prepare account which accord with the accounting records and to comply with the accounting requirements of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities (revised 2005) have not been met; or

  4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Paul K West, FCA PKW Accountancy Limited Second Floor 1 Church Square Leighton Buzzard Bedfordshire LU7 1AE

12 June 2025

3

CENTRECOM LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Notes Unrestricted Restricted
£
£
Income and Endowments
Hall lettings
46,395
-
Interest received
1,021
-
Grant income
3
-
17,496
__
_
Total
47,416
17,496


Expenditure on
Hall running costs
4
9,012
15,018
Administrative expenses
5
25,965
-


34,977
15,018


Net (Deficit) Surplus
12,439
2,478
Reconciliation of funds
Total funds brought forward
36,769
3,839

___
Total Funds Carried Forward
49,208
6,317

 Total Unrestricted
2025
£ £
46,395
38,200
1,021
328
17,496
-
__
_
64,912
38,528


24,030
16,837
25,965
24,775
______

49,995
41,612


14,917
(3,084)
40,608
39,853
______
___
55,525
36,769
 Restricted
£
-
-
8,530
______
8,530
__
4,691
-
_
4,691


3,839
-
____
3,839
 Total
2024
£
38,200
328
8,530
__
47,058
_
21,528
24,775

46,303

755
39,853
___
40,608

The only recognised surplus/(deficit) for the year is as shown above.

There were no acquisitions or discontinued operations during the year.

The notes on pages 8 to 10 form part of these financial statements.

4

CENTRECOM LIMITED Company No. 1825717

BALANCE SHEET AS AT 31 MARCH 2025

Notes Unrestricted Restricted
£
£
Fixed asset
Tangible assets
8
3,005
-
Current assets
Debtors
1,957
-
Cash at bank and in hand
46,359
6,317
__
_
48,316
6,317
Creditors
Amounts falling due within one year:
Accrued expenditure
(2,113)
-


(2,113)
-


Total assets less current liabilities
46,203
6,317
______
______
Net assets
49,208
6,317


Funds
Unrestricted funds
49,208
-
Restricted funds
9
-
6,317

___
49,208
6,317

 Total Unrestricted
2025
£ £
3,005
2,518
1,957
2,449
52,676
33,673
__
_
54,633
36,122
(2,113)
(1,871)


(2,113)
(1,871)


52,520
34,251
______
______
55,525
36,769


49,208
36,769
6,317
-

___
55,525
36,769

 Restricted
£
-
-
3,839
__
3,839
-
______
-
_
3,839

3,839

-
3,839
___
3,839
 Total
2024
£
2,518
2,449
37,512
__
39,961
(1,871)
_
(1,871)

38,090

40,608

36,769
3,839
___
40,608

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for:

5

CENTRECOM LIMITED Company No. 1825717

BALANCE SHEET AS AT 31 MARCH 2025 (continued)

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the Board of Trustees on 6 June 2025 and were signed on its behalf by:

J Spalding Trustee

P Cranfield Trustee

6

CENTRECOM LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Status of Company Centrecom Limited is a company limited by guarantee, the liability of each member being restricted to £1. The company is a registered charity.

2. Accounting Policies

Basis of preparing the financial statements

The financial statements have been prepared in accordance with 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) (revised October 2019) – (Charities SORP (FRS 102)) the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The presentation currency of the Financial Statements is the pound sterling (£) and the Financial Statements are rounded to the nearest £.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income - Income represents amounts invoiced by the company in respect of hall lettings made during the year.

Interest - Interest income is recognised on receipt.

Grant Income - Grant income received is recognised on receipt.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Depreciation

Depreciation is charged on all tangible fixed assets, at rates calculated to write off the cost of each asset over its expected useful life as follows:-

Office furniture and equipment - 25% on the reducing balance

Administration Costs

All administration costs relate to the Hire Fees of the Hall.

7

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

CENTRECOM LIMITED

3.
Grant Income
Milton Keynes Council
4.
Hall Running Costs
Hall running costs comprised of the following:
Cleaner
Electricity
Gas
Repairs and renewals
Security expenditure
Water charges
Cleaning materials and refuse
Insurance
Casual wages
Performing Rights Society
5.
Administrative Expenses
Administration charges
Telephone
Accountancy
Office supplies
General expenses
Depreciation
Computer and broadband costs
Bad Debts		 2025
£
17,496
__
2025
£
6,069
3,086
(2,536)
15,018
546
437
495
343
200
372
_
24,030

2025
£
22,226
1,661
696
232
69
1,001
80
-
___
25,965		 2024
£
8,530
__
202 4
£
6,239
3,344
2,129
6,896
618
197
479
828
465
333
_
21,528

2024
£
20,823
1,382
678
132
354
839
168
399
___
24,775

6. Staff Numbers and Costs

No employees were employed during the year (2024 – Nil) with emoluments for the year of Nil (2024 - £Nil).

8

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CENTRECOM LIMITED

7. Trustee and other key management personnel remuneration and expenses

The Charity considers its key management personnel comprises its Trustees only. No trustees were paid any remuneration.

8. Tangible Fixed Assets

8. Tangible Fixed Assets
Office Furniture
And Equipment
£
Cost
At 31 March 2024 31,526
Additions 1,488
______
At 31 March 2025 33,014
______
Depreciation
At 31 March 2024 29,008
Charge for the year 1,001
______
At 31 March 2025 30,009
______
Net book amounts
At 31 March 2025 3,005
______
At 31 March 2024 2,518
______
9. Restricted Funds
1 April Incoming Outgoing 31 March
2024 resources resources
2025
£ £ £ £
Curtains and Aesthetics 2,653 - (2,653) -
New Gates 1,186 - - 1,186
Infrastructure - 17,496 (12,365) 5,131
_____ _____ _____ _____
3,839 17,496 (15,018) 6,317
_____ _____ _____ _____

Curtains and Aesthetics – This fund represents a grant from Milton Keynes Council for the purchase of fire retardant curtains and towards enhancing the experience of the users of the centre.

New Gates – This fund represents a grant from Milton Keynes Council for the purchase and installation of new gates.

Infrastructure – This fund represents a grant from Milton Keynes Council for the provision of adequate physical and social infrastructure and facilities.

9

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CENTRECOM LIMITED

10. Related Party Transactions

There were no related party transactions to report in the year (2024 - £Nil).

10