Saltash Waterside Community Association Annual Report Year ended 31 March 2025
Saltash Waterside Community Association Financial Statements Year ended 31 March 2025 Contents Page Tnjstees and Professional Advisors Trustees, Report Independent Examinerfs Report Income and Expenditure Account (Incorporating Ststement of Financial Actmty) Balance Sheet Notes and Accounting Policies
Saltash Waterside Community Association Trustees and Professional Advisors Year ended 31 March 2025 Trustees and Principal Officers Trustees: Principal Officers: Mr A D Marsh Mr R Bickford MrAHea Chaimian Mrs L Marsh Secretary Mrs M Truscott Registered Office Ashtorre Rock Waterside Old Ferry Road Saltash Comwall PL12 4GT Treasurer Mrs S Harfield-mitchell Professional Advisers Bankers: Lloyds Bank PIC 67 Fore Street Saltash Comwall PL12 6Ai Accountsnts PKF Francis Clark Melville Building East Untt 18. 23 Royal William Yard Plymouth PL13GW Solicitors: Nicholls & Sainsbury 131 Fore Street Saltash Comwall PL12 6TT
Saltash Waterside Community Association Trustees, Report Year Ended 31 March 2025 The Trustees submit their reporl and unaudrled financial statements for the year ended 31 March 2025. The accoLJnts have been drawn up in acLordance with appropriate statutory regulations, the assoaation's goveming document and frAlows best practice as set out in the Accounling and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounls in accordan with the Financial Reporting Slandards applicable in the UK and Republic of Ireland (FRS 102). Charity Number 299044 Status The Saltssh Waterside Communty Association is a charity govemed by a Trust Deed dated 5 March 1991 and is registered with the Charity CommissDn under referen number 299044. Principal activity The principal aim of the Charty is to provide recreational actrvities for tha inhabitants of Saltash and surrounding neighbourhocrfj. Objectives The principal chartiable purpose of the charity is the provision of recreational activities, wrth the objed of improving the condrtions of lrfe for the inhabttants. Structure and election process The board of Trustees, a body of not less than three nor more than six. o)ntrols the charity and are elected for lrfe or until suth time as they retire. The Trustees are assisted by three offThrs who seThe for a period of five years and eight committ8e members who are re-elected each year. Eleclions are held at the Annual General Meeting where a quorum ofat least15 members is required and members are dected by a majority of persons present. Reserves Income generation has been maintained through annual local events and a regular core of people who use the facilities. As with most chaTities any interest on fuThJs is at an all-time low and the Trustees are monitoring the stiuation. The charity's aim is to continue to hold sufficient reserves to cover at least 12 months of expenditure.
Saltssh Waterside Community Association Trustees, Report (continued) Public benefit The Charities Act 2011 introduced the requirement for charities to show that they have provided public benefit. The trustees have reviewed the obJ"ects, goals, services and objectives of the charity in the light of this requirement and can confimi that Saliash Waterside Community Association seNes the publi¢ bgnefft. Financial review During the yaar, the charity has Continu to raise funds which have enabled the association to continue to provide recreational activities. The surplus for the year amounted to £34.196 which, when taken from the balan brought fotward. resulted in a increase in funds to £365.357. First fl¢)or hirings have recovered to pr&COVID levels. The exierior guttering has been renew8d and Ashtorre Rock has continued to investigate flo(xl defen measures. Also, our sea wall will be professionally surveyed and any reported problems acted upon.
Saltash Waterside Community Association Statement of Trustees. Responsibilities The trustees are responsible for preparing the financial statements in accordance w41h the United Kingdom Accounting Standards (United lQngdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stste of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial ststements, the trustees ar8 required to: selecl suitable accounting poliaes and then apply them consistenuy" observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent", state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.. and prepare the financial statements on the going concem basis unless it is inappropriate to presum8 that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensLAre Ihat the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and heno for taking aSonable steps for the prevention and detection of fraud and other Iegular1tieS. The trustee5 are responsible for the maintenance and integrity of the corporate and financial information included on the charitable companys website. Legislation governing the preparation and dissemination of financial statements may drffer from legislation in other jurisdictions. The trustees who served during the year Vre as follovts. MrA D Marsh Mr A Hearl Mr R Bidrford Slgned o of the Tru tees
Saltash Waterside Community Association Independent examiners, report to the trustees of Saltash Waterside Communlty Association I report on the accounts of the Ass¢xiation for the year ended 31 March 2025, vthich are set out on pages 6 to 10. Responsibilities and basis of report As the charity trustees of Saltash Waterside Community Association you are responsible for the preparats'on of the accounts in accordan with the requirements of the Charities Act 2011 (Ihe Act'}. I report in respect of my examination of Saltash Waterside Community Association accounts carried out under sedion 145 of the 2011 Act and in carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examinerfs statement Since Saltash Waterside Community ASSlatiOn'S gross income eXded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a member of the ICAEW which is one of the listed bodies. I have completed my examination. I confinn that no material matters have come to my attention in onnection wtth the examinats'on giving me cause to believe that in any material respect.. 1. accounting records were not kept in respect of Saltash Waterside Community Assc¢iation as required by section 130 of the Act: or 2. the accounts do nol accord wtlh those recxjrds: or 3. the acwunts do not comply with the accounting requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the acwunts gwe a Yrue and fair wev/ whth is not a matter (x)nsidered as part of an independent examination. I have no cOnrnS and have come acfOSS no otrw matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. James Barrett PKF Francis Clark Chartered Accountants & Registered Auditors PLYMOUTH
Saltash Waterside Community Association Income and Expenditure Account (Incorporating Statement of Financial Activities) Year ended 31 March 2025 Unrestricted Funds 2025 Unrestricted Funds 2024 Income Membership fees Donations.. Sundry Govemment grant Fundraising- Kitchen & Draws Hire of first floor Bank interest received 501 433 453 1,205 69,565 11,916 4341 56.012 11,939 2,308 86,756 71,917 Expenses Fundraising.. Kitchen & Draws Event expenses 18.621 162 16,434 241 18,783 16,675 General Property repairs- maintenance Insurancè Heat and light Water rates Telephone, postage and stationery Cleaning Accountancy Miscellaneous expense Depreciation 8,413 4,425 4,132 1.566 2,115 4.936 1,260 1.365 5,565 7,433 3,822 3,382 1,621 1.455 4,744 1,200 681 5,987 33.777 30,325 Surplus for the year 34,196 24,917
Saltash Waterside Community Association Balance Sheet 31 March 2025 2025 2024 Note Fixed Assets 178,956 184,521 Current Assets Balan at bank Debtors Prepayments 183,356 143.289 4.305 4.551 Total Current Assets 187.661 147,840 Current Liabilities Creditors (1,260) {1,200> Net Current Assets 186,401 146,640 Net Assets 365.357 331,161 Unrestricted Funds Opening balance Excess of expenditure over income 331,161 34.196 306,244 24,917 365.357 331,161 Approved by the Trustees on ................ and signed on thelr behalf by:
Saltssh Waterside Community Association Notes and Accounts'ng Policies Year ended 31 March 2025 A¢¢ounting Policies sLement of compliance The financial statements have been prepared in accordance wth Accounting and Reporting by Charities.. Slatement 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 1021 (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of preparatlon Saltash Waterside Community Association meets the definition of a public benefit enttty under FRS 102. The accounts (financial ststements) have been prepared under the hislorical cost convention with ilerns recognised at cost or transaction value unless otheiSe stated in the relevant nole(sl to these accounts. InGome and endowments All income is fecognised once the Charity has entitlement lo the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. Donatlons and legacies Donations and legacies are recognised on a receivable basis when receipt is probable, and the amount can be reliably measured. In the event that a donation is subject to conditions thal require a level of perfonnance before the charity is entitled to funds, the income is deferred and not reGognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charty, and it is probable that those conditions will be fuffilled in the r8POrting period. Expenditure All expenditure is recognised once there is a legal or constructtve obligation to that expenditure, il is probable settlement is required and the amount can be measurèd reliably. All cosls are allocated lo the applicable expenditure heading that aggregate similar cosls to that category. Where costs cannot be directly attributed to particular headings, they have been alli)cated on a basis consistent with the use of resources and depreciation charges allocated on the portion of the asset's use. Charltable activities Charitable expenditure comprises those costs incxjrred by the charity in the delivery of its activities and services for ils beneficiaries. It includes t)olh costs that can be allocated directly to such activities and those costs of an indired nature ne$Sary to support them.
Support Gosts Support costs indude central functions and have been allocated to activity cost categories on a basis Gonsistent with the use of resources, for example, allocating property wsts by floor areas, or per capila, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attribulable to the charity's Complian with constitutional and statutory requirements. including independent examination, strategic management and trustees, meetings and reimbursed expenses. Taxation The charity is considered to pass Ihe tests set out in Paragraph 1 Schedule 6 of Ihe Finance Acl 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempi from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exdusively to charitable purposes. Tangible fixed assets Individual fixad asset5 ¢0sts'ng £500.00 or more are initially recorded at cost. Depreciation and amortisation Depreciation is provided on tangible fixed assets $0 as to vKite off the Cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class Freehold property Furniture and fixtures Depreciation method and rat8 20/0 Straighl line 20% straight line Fund structure Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes. the use of which is restricted to that area or purpose.
2 Fixed Assets Freehold Balcony Fixtures and Property Extension Equipment Total Cost As at 1 April 2024 Additions 47.943 162,994 98,270 309,207 As at 31 March 2024 47.943 162.994 98,270 309,207 Depreciation As at 1 April 2024 Charge for the year As at 31 March 2025 6,713 959 22,820 3,260 26,080 95,153 124,686 5,565 130,251 7,672 96,499 Net book value As at 31 March 2025 40.271 41.230 136.914 140.174 1,771 3,118 178,956 184,521 As at 31 March 2024 a) Freehold Property The property has been induded at its htstoric cost in 1991. bl Depreciation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation. less any estimated residual value, over their expected useful economic life as follows.. Freehold Property Balcony Extension Fixtures and Equipment 20/0 Straight line basis 2°h straight line basis 20 % Straht line basis 3 Trustees. Remuneration and Expenses No remuneration was paid by the trust to any of the trustees for their ServIS as trustees during the year. 4 Taxation The charty is a registered tharity and is therefore exempt from taxation. io