Charfty regl•tr•tlon numb•r 290845
ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
LEGAL AND ADMINISTRATIVE INFORMATION
Tr￿￿0&
M Slortl
A M Connfjll
Charlty numb•r
290845
G•n•ral ¢ommitt•• m•fflb•rs
M Cere51è
G Manna
C Serluca
H Conle
Chairman
M¢e Chaiman
Treasurgr
Secretary
Manag•m•nt
I Caru$0
Fl891 mana9er
Principl addr•
The Fleet Complex
Fle81 Way, Hlgh Slrg01
Fletton
Peterborough
United Kingdom
PE2 8DL
Indep•ndent •xamln•r
Azels Audf( Servl¢os
Weslpoinl
Lynch Wood
Pelerborough
Cambridgeshire
Unrted Kingdom
PE2 6FZ
Bankern
HSBC Calhgdral Squar8
Cathedral Square
Pelerborough
United Kingdom
PEI 1XL
Lloyds Bank
27-31 W&$lgal
Peterborough
United Kingdom
PE1 1YH

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
CONTENTS
P•
Trustees r8POrt
Statement of Trustees r•sponsibi1rf1o$
Ind•p8ndenl examin8rf$ report
Stalemant of finan(yal activities
Balan¢e sheet
Notes lo Ihe financ4al slatemor
8-18

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
TRUSTEES REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustèès prèsènt thèir annual roport and financial ststements for the year ended 31 March 2024.
The financial 51alemenls have been prepared in accordance with the accounting policAes set oul in nolg 1 tg the
financial statements and comply with the charity's goveming document, the Charities Act 2011 and "Accounting
and Reporting by Charities.. Slatemenl of Recommended Practice applicable to charities preparin9 their accounts
in accordance with the Financial Rèporting Standard applicable in Ihè UK and Reptjblic of Ireland IFRS 102}.
(effective 1 January 20191.
Obje¢tive$ anil activities
The objectives of the Asso¢iation are lo promote the benefits of the inhatAtants of the City of Pelerborough, with
the obiÈctivÈ of iMpro￿n9 ¢ondilions of life foi the said inhabitants. By 8SS0ry81ing the local aulhorrties, volunlary
organisalions and inhabitants in a common effort to advance education and lo provide facilities in the interest of
social welfare for recreation and leisure-lime occupation. To establish a comrnunily centre and to maintain and
manage a centre for actiwties promoted by the Assocjation and its constituent bodies in furtherancè of thè
objectives.
Havin9 considered the Charity Commissions guidance on Public Benefit the Iruslees consider that the objectives
ara in a¢¢ordan¢e with the need of conlinuan¢e of Publi¢ Benefit.
The Association is 8ctivety pursuing the potential and *iabilty for the development of the Fleet Complex site in
order lo extend the recreational activities for the mernber5 and local community. The work, if approved, will be
funded by the Assoaalion.
The Trustees have paid regard to guldance i$$ugd by the Charity Commi$sion in decsding what activities the
charty should undèrtakè.
Strntegic report
The descnplion undei the headings "Achievements and perfomian¢e' and "Financial review. rneet the company
law requiiernenls for the Trustees to present a slralegi¢ report.
Achievements and pfrrforniancfr
The Iluslees ale pleaseil lo report that despite the dI￿￿ul1 economi¢ Llimale the tharity has continued to improve
the Fleet tscililies.
Fund raising events were specifically aimed al family and cultural events, lo ensure the continued growth of th&
Association and lo represent the whole community. The welfare sU￿COMmittee are able to provHle for Indi￿du31$
and members with special needs and disabilrties.
The annual Pelerborough's Italian Fèstival was held in Sèptember within Pelerborough's Cty Centre to celebrate
and promotè the Italian Community Asso¢iation history, ¢ulture and heritage wrthtn the Cty of Peterborough.
The ICA sport football club was registered 11 Juty 20121 with the footbal association. The ICA sport is run by
volunteers and furthers the charily's aim lo represent the whole comrnunity and lamilies. The sporl dub has
continued to grow throughout Ihe year and is now looking to improve the sporting facilities for thè communty by
purchasing land Icompleted February 2016) in order to prO￿lde safe facility and pitches.
Expenditure and investment commenced in the year on the development of the plannèd sports farylth"es.
Finan¢i•l review
The results for the year are sel out in the attached Statement ol Financial A¢tivrties and Proffil and Loss Account.

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
TRUSTEES REPORT (CONTINUED
FOR THE YEAR ENDED 31 MARCH 2024
Unreslrrted reserves are needed..
al to provide funds which can be designated lo specific projects to enable these piojtrcts to be undertaken at
short notice and
bl to cover administration. fundraising and support costs wthout which the charity could not fvn¢tion.
The trustee5 consider r( prudent that unreslrided funds should be sufficient to avoid the necessity of realising
fixed assets held for the charty's use and to cover one yearfs adminislralion, fundraising and support costs. The
level ol reserves is monitored and reviewed by the Iiustees regularly.
Risk Managemènt
The trustee5 and general committee have examined the major slralegic, business and operational risks which
thè charity faces and confirm that systems have been established lo enable regular reports to be produced so
th81 the necess8ry sleps can be taken lo lessen the risk5.
The Iruslees and the general committee have implemented risk managemenl strategy that ¢ompri5es of regular
reviews and business planning process. Systems and procedures have been put in place lo mitigale those risks
identrfied In Ihe plan. PfocÈdures imF4emented include heallh and safety inspection ol the premises. staff training
and incorporation of health and safety duties to specific staff and review insurance poliaes.
Plans for Future P*rlods
11 is the charity's intèntion lo apply for grants in order to ueate an all weathèr sports pitch on the land purchased
lo create an all year round sports facility.
M•mb•r5hip
Full membership is open to individuals 0118 years and over. living in the are8 ol benefrt. Individuals under the
age of 18 may be admitted. but shall not be entitled lo vote.
StN¢tur•, govèrnance and management
Tha charity 1$ govemed by ils Conslilulion. The Conslilulion was formed and adopted on 13 Junè 1984 and
mended, pursuant to dause 15, at the Annual General Meeting of thé Association held on 28 June 1998.
The Tnjstees who served during thè year and up to the dale of signature of Ihe finanaal statements werè..
D Broccoli
(Resigned 16 January 20241
M Storti
A M Connell
The Assorialion seeks lo bfing new Trustees and general comrnitte¢ m•mber5. who can complement the skills
base ol the existing members ol the board. Invilation is made at IheAnnual General Meeting and at other times
throughout the year. Interested parties are invrted to meet with the Chaim)an and other committee members lo
obtain an understanding of the ¢harrty, 115 aims and objectives and how they may be able to further develop Ihe
charity.
The Chaiman formalty proposes any new trustee to the COTnmitt&e and, if approved. the new trustee is invited to
join the Gèneral Commillee. All membèrs of the General Commrttee shall ielire from office at the conclusion (>f
the Annual General Meeting tr40 years after the dale on which they came into office, bul thèy may be re-elerted
or re-appointed.

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Organlsatlon•l Stru¢ture
The policies, objeclwes of the Association are directed by the General Cornmittee, which are eleded from the
membership, by the members at the Annual General Meeting and will indude a representative from
Pèterborough City Counrivlocal authority. Thè General Committee will meel at least stx times a year to consider
and d￿Ad￿ the $lr8legi¢ direction and policy of the charity. The General Committee also take the opportunrty to
consider issues SUL* as legal, Pfemises, planning and staff matters whith have arisen befvleen meetings.
The General CoMM￿ee also meet regularly with representatives Irom those responsible for the operational
management of Ihe Assoaation on a day to day basis, ensuring that the ASs￿lat￿n delivers the services
specified and that progress is made in achieving the Association's objectives.
M•n•g¥r
A manager is appointed by the General Commrftee to manage the day to day operats'ons of the Association and
the running of the Fleet Complex.
Remuneratlon of Key Managemgnt P•rsonno1
The remuneration of key management personnel is reviewed and s81 by the Committee as a whole.
Independent Examiner
In accordance with Ihe company's 8rti¢les, a rÈstslution proposing that Azèts Audit SÈNice$ ￿ rèappointed as
independent examiner of the charity will be pul 81 a General Meeting.
Th
us
rt was app
ved by the Board of Trustees.
A M Conn•ll
Trustee
Dated".

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2024
The Tru51eès are responsible for preparing the Trustees Report and the financial stalemenls in accordance with
applicable law and United Kingdom A¢¢ounling SlarKlards (United Kingdom Generally Accepted Awunting
Practicel.
The law applicable lo charities in England and Wdlès requires the Trustees lo prgpare financial slalements for each
financial year which give a true and fair view of the slate ol affairs ol the charity and of the incoming resources and
application of resource5 of the charity for that year.
In pr$paring these finanual statements, the Trustees are required to..
select suitable accounting polirAe5 and then apply thèm consistently.,
- observe the methods and prtnciF4es in the Chariti'es SORP..
make judgements and estimates that are reasonable and Prudent.,
slate whether applicablè accounting Standards have been followed, subject lo any material dèpartures disclosed
and explained in the financial staternenls", And
piepare Ihe financial statements on the going concern basis unless rt is inappropriate to presurne that the charity
will continue in operation.
The Trustees are responsible for keeping sufficient accounting re￿rdS that disclose with Teasonable accuracy at
any lirne the financial position of the charity and enable Ihem lo ensure Ihat the financial statements comply with the
Charities A¢t 2011, the Charity (Accounts and Reports) Regulation5 2008 and the provisions of the trust deed. They
are also responsible for $8leguarding the assets of thè charity and hence for taking reasonable steps lor the
prèvention and detection of fiaud and othw irrègularilie5.

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ITALIAN COMMUNITY ASSOCIATION
I report to the Trustees on my examination of the consolidaled financial statements of the Group comprising ol
Italian Community Association {the chartyl and its subsidiary undertaking lor the year ended 31 March 2024.
Re5pon5ibilities and basis of report
As the Trustees of the charity you are responsible for the preparalton of the consolidated financial slalemenls in
8¢¢ordance with the requirements of the Charities Act 2011 (the 2011 Act). You have chosen to prepare
COn501idaled a¢¢ounls for thè Group. You arè satisfied that the accounts of bolh the Charity and the Group are nol
required by cha￿tY law lo be audited and instead have chosen to havè an indepèndènt examination.
I raport in respect of my examination of the consolidated financAal statements carried out undeT sectitin 145 of the
2011 Act. In carrying OLrt my examination I have followed all the applicable Directions given by the Charity
Commission under section 1451Sllbl of the 2011 Act.
Independent examinerfs statement
Your attention Is diawn to Ihe fact that the charity has prepared financial statements in accordance with Accounting
and Reporting by Chaiilies preparing their a¢counts in accordance with the Finanual Reporting Slandard applicable
in Ihe UK and Republic of Ireland IFRS 1021 in prefergn¢e lo the A¢coLJnling and Reporting by Charities." Statèmènt
of Recommended Practice issueil on 1 April 2005 which is referred lo in thè extant regulations but has now been
withdrawn.
l understand Ihal this has been done in ordef for financial statements to Provide a true and fair view in accordance
with Gènelally A¢cepled Accounting Practice effeclive for reporting periods beginning on or after 1 January 2015.
I have completed my exarninalion. l ¢onfim that no mattèrs have come to my attention in eonnèctiot) with the
examination giving me cause to believe Ihal in any fflalerial respect..
a¢￿V￿ling re¢ord$ were not kept in respect of the charity as required by section 130 of the 2011 Act,. or
the financial statements do not accord with those records,. or
the finanaal slaternents do not comply with the applicable requiremènts ¢on¢eming the form and ¢onlenl ol
accounts set out in the Charilies (Account5 and Reports) Regulations 2008 olhei Ihan any requirernent that the
accounts give a true and fair view which is not a matter considered as part ol an independent examination.
I have no concems and have Come across no other matters in connection with the examinalion to which attention
should be drawn in this report in order lo enable a proper understanding of the financial statèmènts to be r8ached.
Mark Jackson FCA DChA
Azets Audit Servl¢es
Weslpoinl
Lynch Wood
Petèrborough
Cambfidgeshire
PE2 6FZ
United +Qngdom
Dated..
.202<

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Rèstricted
funds
funds
2024
2024
Totsl
Unrestrict•d Restri¢tod
funds
lunds
2023
2023
Total
2024
2023
Notes
eom• from.
Donation5 and
legacies
Charitable adiMti&s
Other trading
aclivities
Investments
3.884
35.775
8,418
12,302
35,775
4,788
36,391
8.278
13.066
36.391
136.50B
30
136.508
30
144,977
144.977
11
Totsl Income
176,197
8,418
184,615
186,167
8,278
194,445
Ex
nditurè on:
Charitable activitie5
153,486
5.975
159,461
157,928
5,835
163,761
Net gainslllossesl on
investments
10
31.121
31,121
122.355)
122,3551
Nèt movement In fund$
53,832
2.443
56,275
5.886
2.443
8,329
Fund balances al 1 April
2023
623,417
18,179
641.596
617.532
15,736
633,268
Fund balance$ at 31
Mar¢h 2024
677,249
20,622
697,871
623,418
18.179
641,597
WARNING.. Brought
forward rèserves do not
agr•• to ¢omparntive$
The statement of financial activities inclLsdes 811 gains and losses recogni5ed in the year.
All income and expenditure derive from continuing activities.

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
BALANCE SHEET
ASAT31 MARCH 2024
2024
2023
Not••
Flxed a¥i•ts
Tan9lbl& assets
Investments
12
13
111.843
404,357
113,082
373,236
516.200
486.318
Current •ss•ts
Debtors
Cash al bank and in hand
14
62,231
125.214
61.295
105.958
187,445
167,253
Crgdltor¥: •mounts f•lllng dug wlthln
on• y•ar
115
{5,7741
111,9741
Net currènt a880ts
181,671
155.279
Tol•l u$•ts l•¥¥ curr•nt Il•bllltl•¥
697.871
641,597
In¢ome fvnds
Restricted funds
unlestr￿ed funds
20,622
877,249
18,179
623.418
697,871
041,597
ents were
pp
ved by the Trustèes on
A M Connell
Tnmtso

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Charfty Information
Italian Comrnunty AssocAatitsn Is a charrty regisler8d in England and Wales.
1.1 Accounting convention
The financial slalements have beèn prepared in accordance with the charity's conslrtution adopted 28
November 1984, the Charities Act 2011 and 'A¢¢ounting and Reporting by Charities." Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republ￿ of Ireland IFRS 1021" las am&nded lor aC￿Unting
penods commencing from 1 January 20161. The ¢harity is a Public Benefit Entty as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for ¢harilies apptying FRS 102 Update Bulletin
1 not to prepare a Slalement ol Cash Flows.
For the current period, The charrty has taken advantage of Ihe small group exemptions and has elected lo t)ot
consolidate the accounts with ifs Subsidiary Companies.
The finanaal statements are prepared in sterling. which is the functional currency of the ¢harily. Monetary
amounts in these financial Ststemenls ale rounded lo the nearest £.
The financial $18tements have been prepared under Ihe historical cost convèntion. The prinapal accounling
poliries adopted a￿ Sèt oul bek)w.
1.2 Going ¢oncem
At the time of approving the finanaal staternenls. the Trustees have a Teasonable expectation that the charity
has adequate resources to continue in operational existence for thè foreseeable future. Thus the Trustees
¢ontinue to adopt Ihe going con￿rn basis ol accounting in prepa￿ng the financi31 slalemenls.
1.3 Charitsbl• funds
Unrestrieted funds are available for use al the dlscretion of thtr Trustees in furtherance of their charitable
objectives.
Re5tricled funds a￿ subject to Specific conditions by donors as lo how they may be used. The purposes and
uses of the restricted funds are sel out in the note5 to the finanrial slatemenls.
Endowment funds a￿ subject lo spècific conditions by donors that the capital musl be maintained by the
charity.
1A Incom•
Income is recognised when the charty is legally entitled to it after any performance conditions have been met,
the amounts can be measured reliably, and il 1$ probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charty ha5 been notsfied
of the donation, unless performance conditions require deferral of the amounl. In¢ome tax recoverablè in
relation to donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation.
Legacie5 are recognised on receipt or othe￿ise if Ihe charily has been notified of an impending dislribulion,
the amount is known, and receipt 15 expectèd. If the amount is not known. Ihe legacy is Irealed as a
contin9enl a55et.

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng polleie$
ICont5nu&d)
1.6 Ex￿ndItUre
Expenditurè is rècognised once there is a legal or constrLKtive obligation to transfer economic benefit lo a
third party, it is probable that a tiansfer of e￿nOMiC benefits will be required in settlernenl. and the amount of
the obligation Can be measured reliably.
Expenditure is classified by activity. The costs of each a¢tiwty are made up of the total ol direct Costs and
shared costs, including support costs involved in undertaking each a¢livily. Direct costs attributable lo a single
activity are allocated directly to that a¢ts'vity. Shaied co$15 which contribute to morè th8n onè activity and
support costs which are not attiibulable to a single acliwty are apportioned between those activitie5 on a basis
consistent wrth the use of resources. Central staff costs are allocal8d on Ihg basis ol lime Spent. and
depreaalion charges are 8llocate¢J on the portion of the asset's use.
Charitable expenditu￿ ￿MprISeS those cos15 incurred by the charity in the deliverance of ils activities and
seNces for its benefiTh8rie5. It includes both costs that can be allocated directly lo such actiwties and those
costs of an indirect nature nece55ary lo support them.
1.6 TangIb￿ fixèd a$$•ts
Tangible fixed assets are initially measured al cost and subsequently measured at cost or valuation, nel of
depreciation and any impairmenl10ssgs,
Depreaation is recognised $0 as to writè off the ¢osl or valuation of assets less their residual wdlues over their
usefvl lives on the following bases..
Freehold land and buildings
Leasehold land and buildings
Fixtures and fitts'ngs
10¥0 per annum on cost (buildings only)
10°A per annum on cost Ibuildings only)
10% and 15°A p91 annum on wsl
Freehold land is not depreciated.
The gain or loss arising on the disposal of an asset is determined as the differencè betmeen the sale proceed5
and the carrying value of the asset, and 15 recognised in the statement of ffinancol activities.
1.7 Fix•d ass•t Invèstmènts
Fixed asset investments are initially mèasurèd at ITansa¢lion price excluding transaction ¢osls. and are
subsequently measured at fair value al èaiy) reporting dale. Changes in fair value arè fe¢ogni5ed in net
incomellexpenditurel for the year. Transa(aion ￿$1$ are expensed as incurred.
A subsidiary is an entity controlled by the charty. Control is the power to govem the finan¢ial and tsperaling
pOI￿leS of the entity $0 as to obtsin benefits from ts activrties.
1.8 Impaimient of fixed ass•ts
At each reporting end date, the charrty reviews the carying amounts of 115 tangible assets to determine
whether the￿ is any indication that those assets have suffered an imp8imienl loss. If any such indication
exists, the recoverable amounl of the assèt is gslimaled in order lo determine the extent of the imp8itmenl
loss lif any).
1.9 Cash and cash equlvalents
Cash and cash equivalents indude cash in hand, deposits held 81 c811 wlh banks, other short-term liqui¢J
investments with original maturities of thr8a months or les$, and bank overdrafts. Bank overdrafts are shown
within borrowings in currenl liabilities.

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
A¢eounting polieles
{Continuedl
1.10 Finanelal Instruments
The charity ha5 elected to appty the provisions of Section 11 'Basic Financial Instruments. and Section 12
'Olher Financial Insliuments Issues, of FRS 102 10 811 of its financi81 instruments.
Financial instiumenls are fe¢ognised in the ¢harrty's b#l8n¢0 Sheet when the chaTty becorne5 party lo the
contractual piovisions of the inslrumenl.
Financial asse13 and liabilities are offset, with the net amounts presented in the financial slalements. when
there 1$ 3 legally enfor¢eable right 10 Set off the recognised amounts and there is an intention lo settle on a nel
basis or to realise the asset and settle the liability simullanegusly.
Baslc finan¢•al ass•ts
Basic financial assets, which include debtors and cash and bank balances. are ini(ially measured al
transaction price including Iransadion costs and are subsequently carried 81 aMor￿Sed cost using the effective
interèst method unless the aiiangement constitutes a finanang transaclitsn. where the transaction 15
rneasured at the present value of the future receipts discounted al a market rale of interest. Financial assets
das5ified as receivable within one year a￿ not amortised.
Basic finan¢lal Ilabllities
Basic finanual liabilrtie5. induding creditors and bank loans are inrtially iecognised al transaction PTice unless
the arrangement conslilules a financing Iiansaction. where the debt instrument is measured at the present
value of the YutLJre paymen15 discounted al a market rale of interest. Financial liabilitie5 dassiffied as payable
within one year are not amortised.
Debt inslrumenls are subsequently ¢grried at amorti$8d cost, using the effective intèrest rale method.
Trade creditors are obligations to pay foi goods or services thal have b¢en acquired in the ordinary course of
operations from supplieis. Amounts payable are cla55rfiÈd as current liabilities rf payment is due wtthin one
year or le55. If not, they ale prèsenled as non-CUTrent liabilrties. Trade ¢fedilors are recognised initially at
transaction pri¢e and subsequently measured at amoriised cost using the effective interest method.
Dere¢ognlllon of finanelal liabilities
Financial liabilities are dereco9nised when the charity's contractual oblig81ions expire or are discharged or
can¢èlled.
1.11 Emplo￿¥ ￿nefIts
The cost of any unused holiday enliuement is re¢ognised in the period in which the employee's s¢tvices are
receivèd.
TeTmination benefits are recognised immediately as an expense when the charity Is demonstrably committed
to lerminatè the employment of an employee or to provide termination benefits.
1.12 Rètlrement ben•flts
Payments lo defined contribution retirement b•nerrt ￿hemeS are charged as an expense as they fall duè.
10-

ITALIAN COMMUNITY ASSOCIATION
{ASSOCIAZIONE COMUNITA ITALIANA)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Crltlcal accountlng estlmate8 and Judgem?nts
In the application of the charity's accounting policies, thè Trustees are required lo makè judgèments,
eslirnales and assurnplions about the ¢airying amount ol asstrts and liabilities that a￿ not readily apparent
from other source5. The eslimales and 8ssoci8ted assumptions are based on histor*¢al experience and other
factors that are considered lo be relevant. Actual results may differ from these eslimales.
The estimates and underlying assumptions are reviewed on an ongoing basis. Rewsions lo accounting
stimates arg recognised in the period in which the estimate is revised where the rewsion affecls only that
period, or in the period ol the rèvision and future periods where the revision affects both current and fLrture
periods.
Charitable activities
Charltsbl• Chatltable
A¢tivitie$
A¢tivities
2024
2023
Player registration and match fees
Recovered fines and referee lee contribution5
Sponsorships- player kts
Perfomance related grants
Fundraising income
34,806
144
750
34,241
400
750
1,{￿0
75
35.775
36.391

v>0>

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Inv•stm•nts
Unve¥trlct•d Unre•trfct•d
fund•
fund•
2024
2023
Interest re¢eivab
11
Oth•r tradlng activltl
2024
2023
Fundraising ovants
Lettings
2,295
134.213
503
144,474
Other trading aCt￿lI1•S
136,$08
144,977
13-

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) ￿Ln fD Lh ￿ ¢p fo h)
in¢D O

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Tru$te•s
None of the Tru$le8s lor any pgrsons connectgd with them) rgceive(l any rgmuner8lion OT bgn8fits from the
charity during the year.
Employ••s
The average monthly number of •mployees during the year was..
2024
Number
2023
Numb•r
Employm•nt cmts
2024
2023
Wages and salaries
Oth•r pension ￿$ts
70,712
1,680
72,997
1,680
72,392
74,677
There were no employees vthose annu81 remuneration was more than £80.C￿.
10 N•t yln•lllou••l on Inv•#lments
Unrnstrlctèd Unrn$trkt•d
fund•
fundi
2024
2023
Rev8lu81ion of inv•8lments
31.121
122,3551
11 Taxatlon
The charity Is exempt from lax on income and gains falling within section 505 of th• T8xesAd 1988 or sectljn
252 of the Taxolion of Chargeable Gains Act 1992 to the extent that thes• 8re applied lo ils ¢harilable objects.
15-

ITALIAN COMMUNITY ASSOCIATION
{ASSOCIAZIONE COMUNITA ITALIANA)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED
FOR THE YEAR ENDED 31 MARCH 2024
12 Tangible fixed assets
Frg•hold lond
and bylldinys
Lea8ohold Flxturos and
land and
f4tt1ngB
bulldlng•
Cost
At 1 April 2023
111,402
202,422
92.363
406,187
Al 31 March 2024
111.402
202.422
92,363
406,187
Depfv¢lation and Impalrnient
At 1 April 2023
Depreciation charge(1 in the year
202.422
90,684
1.238
293.106
1.238
At 31 March 2024
202,422
91.922
294.344
Carrying amount
Al 31 March 2024
111.402
111,843
Al 31 March 2023
111,403
1,679
113.082
13 Fixed asset invostments
Fixed t•rni
depo$lt investments
Total
Cost or valuation
At 1 April 2023
Valuation ch8ng8S
373.228
31,121
373,236
31,121
At 31 March 2024
404.349
404,357
Carying amount
At 31 March 2024
404,349
404.357
Al 31 March 2023
373,228
373.236
2024
2023
Other inveslments eompri5e'.
Not•s
Inveslments in subsidiaries
Peterborough Italian Social Club Ltmited is a wholly owned subsidiary of Italian Community Association and is
incoTpoTated in England and Wales. Peleiborough Italian Social Club Limited run5 the social club for the
member$ of the Italian Community Association. The charity owns the enb're 15sued share caprtal of 8 Ordinary
shares ol £1 each.
16-

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14 Debtors
2024
2023
Amounts falling du* within one y•ar:
Trade debtors
Amounts owed by fgllow gioup undertaklngs
Prepayments and accrued income
8.823
53,211
197
9,117
51,352
826
62,231
61,295
15 Creditors: amounts fallSng du• within one y•ar
2024
2023
Other taxation and social securrty
Trade creditors
Other ¢￿dItorS
Accruals and deferred income
661
2,1S¥J
2,049
874
3,773
5,430
2,249
522
5,774
11,974
16 Re$tri¢ted funds
The incomg funds of Ihe charity include restricted fvnds cornprisin9 thè following un•xperKled balancès of
donations and grants held on trust for specific purpo$&$'.
Mov•m8nt In lund¥
Incomlng
R•tsources
Ba￿￿te at
gXP8ndod 1 Aprll ZOZJ
Mov•m•nt in funds
Incoming
R0$0Urtes
Baknc• at
reyourcgs
exp•nd•d 31 Mar¢h 2024
Bakince at
1 Aprll 2D22
B&nevolenl
fund
Con$ulate
grant
15.736
2,443
18,779
2,443
20,622
5,835
15,835}
5,975
15,9751
15,736
8.278
15,8351
18.179
8,418
{5,9751
20,622
17 Operating ￿aSe commttm•nts
The eharity leases its building5 from Peterborough City Counal on a peppercom rent. The c¢Jrr8nt lease end5
in 2049.
17-

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
18 Analysls of n*t assets boiw8•n funds
Unrestrict•d Re5trfct8d
funds
funds
2024
2024
Total Unr•stricted Rgstri¢ted
funds
funds
2023
2023
Totsl
2024
2023
Fund balance5 al 31
March 2024 are
representéd by..
Tangible assèts
Investments
Current asselsl{liabilitiesl
111,843
404,357
161.049
111,843
404.357
181,671
113.082
373,236
137,100
113.082
373,236
155,279
20.622
18,179
677,249
20,622
697,871
623.418
18.179
641,597
19 Rel*tsd party transaction
Owing lo the nature of the charity objectives and aclivrtiès and the ¢omposilion ol the general commrtee
bèing drawn from the local public and private sè¢tor organisations, il is inevilable that transactions may take
place with the charrty in which a mernber of the Committee may have an interest. All transactions involving
such organisations are conducted at am's length and in accordance wilh the charity's ffinancial Tegulalions
and normal procur&ment procedures.
During the year, the ICA Sport5 Club Chairman. C Serfuca, has been repaid by the charity an amount of £200
12023.. £3001. At the end ol the year a payable balance of £2,049 12023.. £2.2491 remains outstanding. The
loan is on an interest Iiee basis and repayable on dèmand.
18-

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Mpmbern Activlty
In¢om• from momb•rn
In¢om• from oth•r lou￿
Festival donations
Incom&- British Go$- EleCm￿1Y 98neraled
Gain on investments
3,884
4,788
3.914
5,799
3.914
5,799
L••s: •xpens•# Incurr•d
Italian Feslival
9.113
1.096
19,113}
11,096)
15,1991
4,703
Surplu¥lld•fl¢ltl from •ub ¢ommltteo¥
Welfare actlwlies
Sports aetivrties
Entertainment 8Ctivitie8
2.712
3,955
12781
2,707
6,999
1240)
8,389
9,466
1.190
14,169
Exp?ndltur•
Food ¥nd refreshments- Pensioners Meal
Food and refre$hmenls- Children's Xmas party
Republican Day
Loss on investments
2.747
1,720
1.232
{31,1211
2.040
300
2,447
22,355
25.422
127,1421
Surplu•lldeficltl on m•mb•rs •ctlvltl•s
28,812
112.9731

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
W•lfarn Sublommitt
2024
2023
In¢om•
Petertjorough City CouncJl 9ranls
Subsolplions- Dropin C8ntr8
2,443
2.443
3,408
2.707
Exp•ndlturn
Staff
696
1696)
Surplus on wellare actlYltle*
2,712
2,707

ITALIAN COMMUNITY ASSOCIATION
{ASSOCIAZIONE COMUNITA ITALIANA)
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Sports Sub4ommlttoè
2024
2023
Incom
Player regislrallon and match fees
Sponsorships- playing kits
Player fines raeovered
Fund raising income
34,806
7SO
144
75
34,241
750
400
35,775
35,391
Exp•ndltuM
Registration fees
Pil¢h hire and referee fe•s
Playing kits
Player Iransfvr lees
Equipment and match balls
Professional CRB Ch￿kS
Laundry
Insurance
Discjplinary fine5
Pitch mainlenancg
Courses
End of season trophies
Exiernal coo¢hing
1.405
16.778
17,975
203
22
1,479
140
1.774
io
80
389
400
403
6,751
400
1.884
700
4,994
120
1,466
700
{31.8201
128.391}
Surplus on sports a¢tfviti
3,955
7,000

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Entertalnmènt Sub4ommltt•o
2024
2023
ICAAnnlv•rn*ry Ball
Incom•
Ticket salè$
1,330
239
Exp•ndFtuYe
Entertainment ¢osl$
11.8081
14791
Surplus
1278)
12401
Surplui on ent•rt#inm•nt a¢tlvltl••
1278)
12401

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Fl•et M•nag•m•ntActivltt¢8
2024
2023
Income from pmperty
Hlr& ol F18et
134,213
144,474
Grant- Consulatè
5.975
5,835
140,188
150.309
Exp•ndMure
Wages
Employee pension
Light and heat
Cl&aning materials
Printing and stationery
Telephone and fax
Water rates and rent
Property repairs arml mainlgnance
SundT*S
Insurance
Websiie and inlemet
D&pr8cialion
70,712
1,680
12,665
2,196
224
767
1.455
10.458
5,802
2,743
784
1,239
72,997
1,880
2,991
2,848
1,088
39,044
2,518
2.096
794
2.796
{110,525)
{129.008)
Surplu• on Fh•t Managem•nt A¢tlvltl•8
29,663
21.301

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
BALANCE SHEET
ASAT31 MARCH 2024
2024
2023
Flx•d as8•ts
Freehold land and bulldlngs
Flxture$ and fittings
111,402
441
111,403
1,679
111.843
113,082
Shares hèld in Peterborough Ilallan so￿al Club
Due from PISC Limited
53,211
51.352
53,219
51.360
165.062
184,442
Curr•nt aswts
DebtOTS
Prepayments
Accru&d in¢ome
Bank dgposrt ac¢ounts-
8,823
197
9.116
826
3,247
888
16,005
404,349
3,247
888
13,766
373,228
ICA Benevolenl Fun¢J
Fleet Management
ICA- fixed depo811 account
Bank current accounl5-
Fleet Management
Sports Sub-committee
Enlertainmgnl
WeWare
Lloyds Business Extra
Youth Club
Sports commrttee account
Cash in hand- ICA
Cash in hand- Sports committ88
88,458
20
1.299
2,416
73.637
20
1.577
2,147
1,094
582
8,764
210
26
582
10,969
210
26
538.583
489,128
Curr•nt Ilabllltl
Creditors and accruals
Other taxation and soaal ￿CUrity
Accruals
Loan- Mr C Serfuca- Chairman ICA Sports
2,190
5.430
3,773
522
2,249
874
5,774
11,974
$32,809
477.155
N•t •$••ts
697,871
641,597

ITALIAN COMMUNITY ASSOCIATION
(ASSOCIAZIONE COMUNITA ITALIANA)
BALANCE SHEET ICONTINUED)
ASAT31 MARCH 2024
Funds Employed
Accumulat•d Fund- Mom￿rn Aellvltles
Balance BIFwd
Surplu81 {defidll in Ihe year
61,679
24,168
77.095
{15,4161
85,847
61,679
A¢¢umulatsd Fund. Flo•t Manag•m•ntAtllvltl••
Balancg BIFwd
Surplus in the year
581,739
29,663
540,438
21,301
591.402
561,739
677,249
623.418
A¢cumulat•d Fund- Benevohnt Fund
B8lan¢e BIFwd
Surplus in the year
18,179
2,443
15,736
2.443
20,622
18,179
Total equlty
697.871
641,597