Charity registration number: 300236
## Bourne End (Buckinghamshire) Community Association
Annual Report and Financial Statements
for the Year Ended 31 December 2023
## **Bourne End (Buckinghamshire) Community Association**
## **Contents (continued)**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 8|
|Statement of Trustees' Responsibilities|9|
|Independent Examiner's Report|10|
|Statement of Financial Activities|11 to 12|
|Balance Sheet|13|
|Notes to the Financial Statements|14 to 27|
## **Bourne End (Buckinghamshire) Community Association**
## **Reference and Administrative Details**
**Chairman** Mr D G Foster **Secretary** Ms D I Hall **Vice Chairman** Mr D J Gibson **Treasurer** Mr T Quantrill **Charity Registration Number** 300236 **Principal Office** The Community Centre Wakeman Road Bourne End Buckinghamshire SL8 5SX **Independent Examiner** Sterling Grove Accountants Limited Fawley House 2 Regatta Place Marlow Road Bourne End Buckinghamshire SL8 5TD **Bankers** CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Page 1
## **Bourne End (Buckinghamshire) Community Association**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023.
## **Objectives and activities**
## _**Objects and aims**_
The charity’s Objects are to promote such Charitable Purpose or Charitable Purposes as the Trustees shall in their absolute discretion think fit. Such Objects include but are not limited to the following:
-to promote the benefit of the inhabitants of Bourne End and Wooburn and the neighbourhood together defined in the Wooburn and Bourne End, Little Marlow and Hedsor Parishes -to maintain and manage the Bourne End Community Centre
-to promote such other charitable purposes as may from time to time be determined
The objects of the Association are to:
a) promote the benefit of the inhabitants of Bourne End & Wooburn and the neighbourhood together defined by Wooburn and Bourne End, Little Marlow and Hedsor Parishes (hereinafter called "the area of benefit") without distinction of sex, sexual orientation, race or of political, religious or other opinions, by associating together the said inhabitants 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 object of improving the conditions of life for the said inhabitants;
b) establish, or secure the establishment of, a Community Centre and to maintain and manage the same (whether alone or in co- operation with any local authority or other person or body) in furtherance of these objects.
c) promote such other charitable purposes as may from time to time be determined.
## _**Objectives, strategies and activities**_
The Community Centre
The Association manages Bourne End Community Centre, which was opened in 1967. The Centre building and land is leased from Buckinghamshire County Council on a 99-year lease at a peppercorn rent. This property is held in trust by the Official Custodian for Charities.
The Association has two employees - one full-time and another part time both working in the Centre Office providing administrative and facilities support. The Association depends upon the continuing support of volunteers from all parts of the community for all other support and management.
The Association's aim has always been to provide first class facilities at affordable prices for voluntary organisations serving the local community. Our halls and meeting rooms are usually filled with the sound of music, drama, sport, exercise and historical research – undertaken by groups from pre-school age to ‘seniors’. We are also delighted to continue to play host to Headway, a charity helping those who have suffered brain injury.
## _**Public benefit**_
We have five halls/rooms which can be hired to groups or individuals from the local community and surrounding area.
In addition to our own events, activities for the local community include three coffee mornings, a visiting podiatrist and Good Neighbours lunches in conjunction with Wye Valley Volunteers.
Page 2
## **Bourne End (Buckinghamshire) Community Association**
## **Trustees' Report (continued)**
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
2023 saw a return to a year-end surplus for the Community Association, largely due to an increase of both regular and one-off hirers during the year. A new Centre Manager was employed after the resignation of Steven Burton in February and things have gone very well with the new manager during the course of the year. The bar has returned to pre-Covid opening hours, opening on Monday evenings and with extended hours at the weekend. The trading company has made a reasonable profit in 2023, partly down to more regular visitors but also very much to the greater numbers coming to both Centre and private events.
Major achievements through the year were the installation of a much fuller CCTV system, and of a new telephone and broadband service after our existing supplier pulled out. Revised hire charges and membership fees were implemented and integrated into the systems, and 100 new chairs were bought for the May Woollerton Hall and the Target Room. A first-aid course for staff and volunteers was held in October, and a fuller one may be sourced from the same company for 2024. The weekly language support evenings for our Ukrainian guests continued to mid-year, but then ceased as people moved away from the area.
A spring clean in April and a ‘commitment week’ in May from local company Q-Dime saw many small repairs and improvements to both the interior and the exterior of the building. The garden in front of the Centre was kept in good order by Kathy Jackson through 2023. Headway maintains the raised garden by the external entrance to the Eghams Room. We thank both of them for making the Centre front look very colourful.
A fuller programme of events took place in 2023. The regular events mostly continued to attract larger numbers, with a couple of full houses for the cinema and the monthly quiz growing to an average of 10-12 teams for each event. Rock in the Bar proved popular throughout the year though centreJazz saw a reduction in numbers attending. The quarterly coffee morning continued with one being held to raise funds for Macmillan Cancer Relief; this one saw the largest number of people attending to date. More one-off music events took place, ranging from a Valentine’s evening with Simon Goodall and the Bourne Again Shadows to the Small Fakers in November. Other one-off events included a lunch and live screening of the Coronation of King Charles III in May and the Community Centre summer fete in July. The Community Centre was again used on Fun Night with a large number of people entering the building and using the bar.
The Association sections have continued to make good use of the Centre: Forum Players presented their first pantomime since Covid in January – a very well-received version of Dick Whittington – and produced a successful ‘in the round’ performance + dinner in the summer. Short Mat Bowls still meets twice a week and plays regular friendly matches with other teams. Darts had a successful year, winning the Summer Cup and coming fourth overall in the league. The Chess Club meets regularly for matches and casual play, and hosts an Annual Chess Congress, attracting players from far afield.
The Community Market has been holding the market all year in the May Woollerton Hall, the Target Room, around the outside of the car park and outside the library, day centre and St Dunstan’s.
Following a difficult year in 2022 when Target magazine had to reduce the number of pages and paper quality to save costs there was an appeal to its readers in 2023, which had a magnificent response resulting in hundreds of donations. In total, by the end of the year, donations totalled over ten thousand pounds. Target was delighted to record the wonderful day at the Coronation of King Charles III and Queen Camilla for a local volunteer. Then, thanks to support from the Buckinghamshire Council SW Chilterns Community Board, there was a four page spread of local Coronation photos taken in celebration of the royal event. In 2024 Target celebrates its 60th volume knowing that the magazine is a treasured addition to the local community.
The end of the year was marred by the sad passing of our Vice-Chair, Dave Gibson, on 1st December.
Page 3
## **Bourne End (Buckinghamshire) Community Association**
## **Trustees' Report (continued)**
## **Financial review**
The financial position of the charity improved in 2023 as activity within the centre increased post Covid. Income increased from £122,767 to £160,519 (30%) primarily due to an increase in letting income (£7,002) and an increase to the occupation licence to Bourne End Community Trading Ltd (£26,500). This was due to more events being held over the year plus an increased use by members.
Target generated a surplus of £4,334 for the year and fundraising generated a surplus of £3,591.
Overheads in 2023 were impacted by an increase in energy costs of £6,810 to £20,728 from £13,918, a 48% increase over 2022. The situation would have been considerably worse if we had not secured a 2-year gas supply contract till November 23 in 2021.
At the year end there was an operating surplus of £14,270 compared to a deficit of £14,730 in 2022.
Year-end reserves stood at £212,527 compared to £198,257 in 2022.
## _**Policy on reserves**_
Our existing policy is to hold between six- and twelve-months annual expenditure as a real reserve. We define real reserves as net current assets. This differs from the general reserve appearing on the Balance Sheet by excluding capitalised expenditure on the fabric of the building and on fixtures and fittings which would be worthless should they need to be sold. Our net current assets at the end of 2023 were £158,497. This represents about 14 months of expenditure, excluding depreciation at the end of 2023..
## **Plans for future periods**
## _**Aims and key objectives for future periods**_
Our future plans include replacing the front doors and redesigning the area in front of the front doors to make access to the Centre much easier for those with mobility issues and in wheelchairs. There are also plans to install a modern hearing-loop system through most of the Centre.
We need to attract new members and would encourage all users to become members of the Association. We also ask existing members to encourage friends and neighbours to join us at the Community Centre.
There is always a need for volunteers to become actively involved in the running of the Association as without a band of willing volunteers the Community Centre would not exist.
## **Structure, governance and management**
## _**Nature of governing document**_
The charity was constituted on 14th May 1964 and is governed by the constitution last amended on 14th April 2003, it is an unincorporated association.
Page 4
## **Bourne End (Buckinghamshire) Community Association**
## **Trustees' Report (continued)**
## _**Recruitment and appointment of trustees**_
Trustees are nominated by each Section of the Association, Affiliated Group Member and Statutory Authority. These are appointed each year at the Annual General Meeting. The AGM also elects a number of the individual members as Trustees to represent them. The Trustees can appoint new Trustees to fill vacancies.
The Trustees who served during the year are as shown below. All Trustees give their time freely and no Trustee remuneration was paid in the year. The major risks to which the charity is exposed, as identified by the Trustees, have been reviewed and systems have been established to mitigate those risks.
## _**Arrangements for setting key management personnel remuneration**_
The pay review is carried out by the Officers and a recommendation is made to the Management Team for their approval.
## **Trustees**
The following persons served as Trustees in the year:
|Kath Acres|Roger Gould|Karen Larkin|Andrew Smith|
|---|---|---|---|
|Mike Bellamy|Tracy Greenfield|Laura Manning|Barrie Thomas|
|Tim Bingham|Clive Gwilliam|Sarah Little|Leah Thompson|
|Clive Bourne|Diane Hall|John Marsh|Sally Todd|
|Val Clark|Mike Hill|Liz Payne|Keith Tomkins|
|Jane Clarke|Bill Hudson|Barrie Penfold|Sue Wagner|
|Pat Clitheroe|Kerry Hudson|Trevor Quantrill|Sue Weston|
|Roger de Coverley|Myra Hurley|Helen Rathbone|Pete Webb|
|Tony Crossman|Paul Hurley|Peter Robins|David Whittaker|
|Martin Donlan|Liz Hutton|Leigh Robinson|Roger Wort|
|Dave Foster|Gary Johnson|Pat Semon|Dave Gibson|
|Mike Judge|Stuart Smart|||
We are grateful for the support of all our trustees. Our thanks to everyone who is involved in the Management Team particularly our Chairman, David Foster, Vice Chairman, Dave Gibson, Treasurer, Trevor Quantrill, and all the members of the Events, Stage, Maintenance, Publicity, Website, Grants, Target, Cinema and Finance Teams. Our thanks also to our staff, both full and part time, who provide such excellent support for all who use the Centre.
Page 5
## **Bourne End (Buckinghamshire) Community Association**
## **Trustees' Report (continued)**
## **How the charity makes decisions.**
The management structure of the charity is as follows:
The Officers consist of Chairman, Vice Chairman, Secretary, and Treasurer
The Management Team, consisting the above plus individuals who have been elected by the trustees to be involved in the running of the centre some of which are involved in the teams mentioned below.
Various Teams such as Publicity, Events, Maintenance, Target who actively develop ideas and proposals to improve and develop the offerings to the local community.
At the regular Management meeting the Officers and Teams report to the Management meeting and proposals are discussed and a decision is made whether to recommend to the Trustees at the next Trustee Meeting.
The day to day running managing of the centre is carried out by the Centre Manager.
Page 6
## **Bourne End (Buckinghamshire) Community Association**
## **Trustees' Report (continued)**
## _**Organisational structure**_
The Management of the Charity is as shown below:
Page 7
## **Bourne End (Buckinghamshire) Community Association**
## **Trustees' Report (continued)**
## **Relationships with related parties**
## **Bourne End Community Trading Ltd**
This company runs the bar at the Community centre and the charity charge an occupation licence to the company when a profit is made.
The charity charged the company the sum of £31,000 this year.
## **Financial instruments**
## _**Objectives and policies**_
The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
## _**Cash flow risk**_
The charity maintains a high level of cash reserves to mitigate cash flow risk .
## _**Credit risk**_
The charity’s principal financial assets are bank balances and cash, trade and other receivables. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
## _**Liquidity risk**_
The charity seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mr D G Foster Chairman
Page 8
## **Bourne End (Buckinghamshire) Community Association**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom 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 state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- 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 concern basis unless it is inappropriate to presume 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 ensure that 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mr D G Foster Chairman
Page 9
## **Bourne End (Buckinghamshire) Community Association**
## **Independent Examiner's Report to the trustees of Bourne End (Buckinghamshire) Community Association**
I report to the trustees on my examination of the accounts of Bourne End (Buckinghamshire) Community Association for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity trustees of Bourne End (Buckinghamshire) Community Association you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Bourne End (Buckinghamshire) Community Association's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of Bourne End (Buckinghamshire) Community Association as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Gianni Pietro Amasanti FCCA
Fawley House 2 Regatta Place Marlow Road Bourne End Buckinghamshire SL8 5TD
Date:.............................
Page 10
## **Bourne End (Buckinghamshire) Community Association**
## **Statement of Financial Activities for the Year Ended 31 December 2023**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Investment income
4
Other income
5
Total income
**Expenditure on:**
Raising funds
6
Charitable activities
7
Total expenditure
Net income/(expenditure)
Gross transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
19
**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Investment income
4
Other income
5
Total income
**Expenditure on:**
Raising funds
6
Charitable activities
7
Total expenditure
Net (expenditure)/income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
19|**Unrestricted**
**funds**
**£**
4,182
105,566
3,532
34,979
148,259
(1,707)
(132,192)
(133,899)
14,360
7,391
21,751
187,507
209,258
**Unrestricted**
**funds**
**£**
10,224
98,018
816
9,637
118,695
(1,652)
(132,523)
(134,175)
(15,480)
(15,480)
202,987
187,507|**Unrestricted**
**funds**
**£**
4,182
105,566
3,532
34,979||**Restricted**
**funds**
**£**
1,460
10,800
-
-||**Total**
**2023**
**£**
5,642
116,366
3,532
34,979|
|---|---|---|---|---|---|---|
|||148,259||12,260||160,519|
|||(1,707)
(132,192)||-
(12,350)||(1,707)
(144,542)|
|||(133,899)||(12,350)||(146,249)|
|||14,360
7,391||(90)
(7,391)||14,270
-|
|||21,751
187,507||(7,481)
10,750||14,270
198,257|
|||209,258||3,269||212,527|
|||||**Restricted**
**funds**
**£**
750
3,322
-
-
4,072
-
(3,322)
(3,322)
750
750
10,000
10,750||**Total**
**2022**
**£**
10,974
101,340
816
9,637|
|||||||122,767|
|||||||(1,652)
(135,845)|
|||||||(137,497)|
|||||||(14,730)|
|||||||(14,730)
212,987|
|||||||198,257|
All of the charity's activities derive from continuing operations during the above two periods.
Page 11
## **Bourne End (Buckinghamshire) Community Association**
## **Statement of Financial Activities for the Year Ended 31 December 2023 (continued)**
The funds breakdown for the two periods is shown in note 19.
Page 12
## **Bourne End (Buckinghamshire) Community Association**
## **(Registration number: 300236) Balance Sheet as at 31 December 2023**
|**Note**
**Fixed assets**
Tangible assets
14
**Current assets**
Debtors
15
Cash at bank and in hand
16
**Creditors: Amounts falling due within one year**
17
**Net current assets**
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
19|**2023**
**£**
54,030
41,745
156,585
198,330
(39,833)
158,497
212,527
3,269
209,258
212,527|**2022**
**£**
46,556
13,471
169,375|
|---|---|---|
|||182,846
(31,145)|
|||151,701|
|||198,257|
|||10,750
187,507|
|||198,257|
The financial statements on pages 11 to 27 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Mr D G Foster Chairman
Page 13
## **Bourne End (Buckinghamshire) Community Association**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Bourne End (Buckinghamshire) Community Association meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## _**Deferred income**_
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received.
## _**Investment income**_
Interest is recognised on an accruals basis and included in the period in which it relates to.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Page 14
## **Bourne End (Buckinghamshire) Community Association**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## _**Raising funds**_
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, staff costs by the time spent and other costs by their usage.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
## **Government grants**
Government grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt 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 exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £100.00 or more are initially recorded at cost.
## **Depreciation and amortisation**
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:
**Asset class** Fixture, fittings and equipment Leasehold improvements
**Depreciation method and rate** 10-25% straight line basis 2-10% straight line basis
Page 15
## **Bourne End (Buckinghamshire) Community Association**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
These are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Borrowings**
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees 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.
Page 16
## **Bourne End (Buckinghamshire) Community Association**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **Pensions and other post retirement obligations**
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
## **2 Income from donations and legacies**
|Donations and legacies;
Donations from individuals
Grants, including capital grants;
Grants from parish council
Other grants
Individual subscriptions and
affiliation fees|**Unrestricted**
**funds**
**General**
**£**
2,026
-
-
2,156
4,182|**Restricted**
**funds**
**£**
-
1,550
(90)
-
1,460|**Total**
**2023**
**£**
2,026
1,550
(90)
2,156
5,642|**Total**
**2022**
**£**
1,340
-
7,750
1,884|
|---|---|---|---|---|
|||||10,974|
## **3 Income from charitable activities**
|Room Hire
Target magazine
Events|**Unrestricted**
**funds**
**General**
**£**
67,721
24,138
13,707
105,566|**Restricted**
**funds**
**£**
-
10,800
-
10,800|**Total**
**2023**
**£**
67,721
34,938
13,707
116,366|**Total**
**2022**
**£**
60,719
30,791
9,830|
|---|---|---|---|---|
|||||101,340|
Page 17
## **Bourne End (Buckinghamshire) Community Association**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **4 Investment income**
|Interest receivable and similar income;
Interest receivable on bank deposits
**5**
**Other income**
Solar panel generated income
Occupation licence|**Unrestricted**
**funds**
**General**
**£**
3,532
**Unrestricted**
**funds**
**General**
**£**
3,979
31,000
34,979|**Total**
**2023**
**£**
3,532
**Total**
**2023**
**£**
3,979
31,000
34,979|**Total**
**2022**
**£**
816|
|---|---|---|---|
||||**Total**
**2022**
**£**
5,137
4,500|
||||9,637|
## **6 Expenditure on raising funds**
## **Other costs of generating donations and legacies**
|**Note**
Wages and salaries
Social security costs
Pension costs
**Total for 2023**
**Total for 2022**|**Unrestricted**
**funds**
**General**
**£**
1,561
103
43
1,707
1,652|**Total**
**funds**
**£**
1,561
103
43|
|---|---|---|
|||1,707|
|||1,652|
Page 18
## **Bourne End (Buckinghamshire) Community Association**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **7 Expenditure on charitable activities**
|**Note**
Room Hire
Target magazine
Events
Depreciation,
amortisation and
other similar costs
9
Staff costs
8
Allocated support
costs
8
Governance costs
8|**Unrestricted**
**funds**
**General**
**£**
50,880
19,804
8,566
8,768
25,594
10,005
8,575
132,192|**Restricted**
**funds**
**£**
-
10,800
1,550
-
-
-
-
12,350|**Total**
**2023**
**£**
50,880
30,604
10,116
8,768
25,594
10,005
8,575
144,542|**Total**
**2022**
**£**
34,506
31,824
12,481
7,724
32,866
8,351
8,093|
|---|---|---|---|---|
|||||135,845|
Page 19
## **Bourne End (Buckinghamshire) Community Association**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **8 Analysis of governance and support costs**
## **Support costs allocated to raising funds**
|Subscription
**Total for 2023**
**Total for 2022**
**Support costs allocated to charitable activities**
Room Hire
Target magazine
Events
**Total for 2023**
**Total for 2022**
**Support costs allocated to other expenditure**
Governance
**Total for 2023**
**Total for 2022**|**Staff costs**
**£**
20,476
1,706
3,412
25,594
32,867|**Staff costs**
**£**
1,707
1,707
1,652
**Administration**
**costs**
**£**
8,003
1,001
1,001
10,005
7,881
**Staff costs**
**£**
6,824
6,824
6,610|**Total**
**funds**
**£**
1,707|
|---|---|---|---|
||||1,707|
||||1,652|
||||**Total**
**funds**
**£**
28,479
2,707
4,413|
||||35,599|
||||40,748|
||||**Total**
**funds**
**£**
6,824|
||||6,824|
||||6,610|
## **Basis of allocation**
## **Reference**
## **Method of allocation**
Employment costs have been allocated by the Honorary Treasurer on the basis of Staff costs time spent as a percentage basis except for one employee that has been fully allocated to charitable activity- Room hire.
Administration costs
Adminstration costs have been allocated to where costs attributed.
Page 20
## **Bourne End (Buckinghamshire) Community Association**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **Governance costs**
|Staff costs
Wages and salaries
Social security costs
Pension costs
Independent examiner fees
Examination of the financial statements
Other fees paid to examiners
Other governance costs
**9**
**Net incoming/outgoing resources**
Net incoming/(outgoing) resources for the year include:
Depreciation of fixed assets|**Unrestricted**
**funds**
**General**
**£**
6,242
410
172
500
925
326
8,575|**Total**
**2023**
**£**
6,242
410
172
500
925
326
8,575
**2023**
**£**
8,768|**Total**
**2022**
**£**
6,053
425
132
500
850
133|
|---|---|---|---|
||||8,093|
||||**2022**
**£**
7,724|
## **10 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Page 21
## **Bourne End (Buckinghamshire) Community Association**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **11 Staff costs**
The aggregate payroll costs were as follows:
|The aggregate payroll costs were as follows:|||
|---|---|---|
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs|**2023**
**£**
31,212
2,052
861
34,125|**2022**
**£**
38,263
2,205
660|
|||41,128|
The monthly average number of persons (including senior management team) employed by the charity during the year
|the year|||||
|---|---|---|---|---|
||**2023**||**2022**||
||**No**||**No**||
|Administration||2||3|
No employee received emoluments of more than £60,000 during the year
## **12 Independent examiner's remuneration**
|**12 Independent examiner's remuneration**|||
|---|---|---|
|Examination of the financial statements
**Other fees to examiners**
All other services|**2023**
**£**
500
925|**2022**
**£**
500|
|||850|
## **13 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
Page 22
## **Bourne End (Buckinghamshire) Community Association**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **14 Tangible fixed assets**
|**Cost**
At 1 January 2023
Additions
At 31 December 2023
**Depreciation**
At 1 January 2023
Charge for the year
At 31 December 2023
**Net book value**
At 31 December 2023
At 31 December 2022|**Land and**
**buildings**
**£**
147,842
-
147,842
112,241
1,602
113,843
33,999
35,601|**Furniture and**
**equipment**
**£**
186,645
16,242
202,887
175,690
7,166
182,856
20,031
10,955|**Total**
**£**
334,487
16,242|
|---|---|---|---|
||||350,729|
||||287,931
8,768|
||||296,699|
||||54,030|
||||46,556|
Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings and £33,999 (2022 - £35,601) in respect of leaseholds.
## **15 Debtors**
|Trade debtors
Prepayments
VAT recoverable
Other debtors|**2023**
**£**
3,966
2,830
2,289
32,660
41,745|**2022**
**£**
6,282
1,727
962
4,500|
|---|---|---|
|||13,471|
## **16 Cash and cash equivalents**
|**16 Cash and cash equivalents**|||
|---|---|---|
|Cash on hand
Cash at bank|**2023**
**£**
128
156,457
156,585|**2022**
**£**
2
169,373|
|||169,375|
Page 23
## **Bourne End (Buckinghamshire) Community Association**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **17 Creditors: amounts falling due within one year**
|Trade creditors
Other taxation and social security
Pension contributions unpaid
Other creditors
Accruals
Deferred income
Balances held for Sections
Deferred income at 1 January 2023
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end|**2023**
**£**
8,508
844
277
4,630
4,520
3,697
22,476
17,357
39,833
**2023**
**£**
4,351
3,697
(4,351)
3,697|**2022**
**£**
3,324
1,196
128
2,967
5,647
4,351|
|---|---|---|
|||17,613
13,532|
|||31,145|
|||**2022**
**£**
5,055
4,351
(5,055)|
|||4,351|
## **18 Pension and other schemes**
## **Defined contribution pension scheme**
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £861 (2022 - £660).
Page 24
## **Bourne End (Buckinghamshire) Community Association**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **19 Funds**
|**Unrestricted funds**
**_General_**
General fund
**Restricted funds**
Target magazine
Parish Council grants
Andrew Bourn show
Callingham Foundation
**Total funds**
**Unrestricted funds**
**_General_**
General fund
**Restricted funds**
Target magazine
Parish Council grants
Callingham Foundation
**Total funds**|**Balance at 1**
**January**
**2023**
**£**
**Incoming**
**resources**
**£**
**Resources**
**expended**
**£**
**Transfers**
**£**
**Balance at**
**31**
**December**
**2023**
**£**
187,507
148,259
(133,899)
7,391
209,258
-
10,800
(10,800)
-
-
10,000
1,550
(1,550)
(7,391)
2,609
-
660
-
-
660
750
(750)
-
-
-
10,750
12,260
(12,350)
(7,391)
3,269
198,257
160,519
(146,249)
-
212,527
**Balance at 1**
**January 2022**
**£**
**Incoming**
**resources**
**£**
**Resources**
**expended**
**£**
**Balance at 31**
**December**
**2022**
**£**
202,987
118,695
(134,175)
187,507
-
3,322
(3,322)
-
10,000
-
-
10,000
-
750
-
750
10,000
4,072
(3,322)
10,750
212,987
122,767
(137,497)
198,257|**Balance at 1**
**January**
**2023**
**£**
**Incoming**
**resources**
**£**
**Resources**
**expended**
**£**
**Transfers**
**£**
**Balance at**
**31**
**December**
**2023**
**£**
187,507
148,259
(133,899)
7,391
209,258
-
10,800
(10,800)
-
-
10,000
1,550
(1,550)
(7,391)
2,609
-
660
-
-
660
750
(750)
-
-
-
10,750
12,260
(12,350)
(7,391)
3,269
198,257
160,519
(146,249)
-
212,527
**Balance at 1**
**January 2022**
**£**
**Incoming**
**resources**
**£**
**Resources**
**expended**
**£**
**Balance at 31**
**December**
**2022**
**£**
202,987
118,695
(134,175)
187,507
-
3,322
(3,322)
-
10,000
-
-
10,000
-
750
-
750
10,000
4,072
(3,322)
10,750
212,987
122,767
(137,497)
198,257|**Balance at**
**31**
**December**
**2023**
**£**
209,258
-
2,609
660
-|
|---|---|---|---|
||||3,269|
||||212,527|
|||||
|||10,750||
|||198,257||
Page 25
## **Bourne End (Buckinghamshire) Community Association**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
The specific purposes for which the funds are to be applied are as follows:
## Target magazine
The Target magazine fund is where donations are received and restricted to be used on the running of the magazine.
## Parish Council
The Parish Council fund was established in 2021 when a specific grant was received to help with the purchase of new chairs and outdoors seating for the centre, however these funds are yet to be fully utilised and will be available to spend of these specific items in 2024.
The council also donated monies in the year towards specific events that took place in 2023- Coronation celebration and a Fete, these funds were fully utilised in the year against the costs for each event.
## Andrew Bourn event
Funds have been received from sponsors for a show which is taking place in February 2024.
## Callingham Foundation
This money was received towards the hire of a grand piona for orchestral concert, however unfortunately this was cancelled and therefore the money received was returned.
The transfer relates to restricted grants which were given to the centre to purchase new chairs and outdoor seating. The new chairs were purchased in the year and included with fixed assets, these chairs are held for general use.
## **20 Analysis of net assets between funds**
|**20 Analysis of net assets between funds**||||
|---|---|---|---|
|Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
54,030
195,061
(39,833)
209,258
**Unrestricted**
**funds**
**General**
**£**
46,556
172,096
(31,145)
187,507|**Restricted**
**funds**
**£**
-
3,269
-
3,269
**Restricted**
**funds**
**£**
-
10,750
-
10,750|**Total funds at**
**31 December**
**2023**
**£**
54,030
198,330
(39,833)|
||||212,527|
||||**Total funds at**
**31 December**
**2022**
**£**
46,556
182,846
(31,145)|
||||198,257|
Page 26
## **Bourne End (Buckinghamshire) Community Association**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **21 Related party transactions**
During the year the charity made the following related party transactions:
## **Bourne End Community Trading Limited**
(The share capital of this company is held in trust for the charity by Messrs DG Foster and T Quantrill) This company operates the trading activities of the charity. During the year the company had revenue of £134,096 (2022: £94,321) and made a loss of £1,202 (2022: profit of £9,954) after paying the Charity an Occupation Licence in the year of £31,000 (2022: £4,500). At the balance sheet date the amount due from Bourne End Community Trading Limited was £31,000 (2022 - £4,500).
Page 27
## **Bourne End (Buckinghamshire) Community Association**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2023**
|**Income**
Room hire
Membership and affiliation fee
Target magazine income
Fundraising income
Donations
Other grants
Bank interest received
Solar generated electricity
Occupation licence
**Expenditure**
Target magazine costs
Fundraising costs
Employment costs
**Property costs**
Rates
Water rates
Light, heat and power
Insurance
Repairs and maintenance
Security
Cleaning
**Administration costs**
Telephone
Stationery and computer facilities
Postage and photocopier
Bank charges
Advertising and publicity
Covid costs
Sundries
Licences and affiliation fees
Independent examination|**2023**
**£**
67,721
2,156
34,938
13,707
2,026
1,460
3,532
3,979
31,000
160,519
(30,604)
(10,116)
(34,125)
(582)
(1,143)
(20,728)
(3,443)
(4,956)
(575)
(17,474)
(48,901)
(293)
(4,506)
(1,690)
(1,242)
(144)
-
(2,456)
(1,979)
(1,425)
(13,735)|**2022**
**£**
60,719
1,884
30,791
9,830
1,340
7,750
816
5,137
4,500
122,767
(31,824)
(12,481)
(41,128)
(675)
(796)
(13,918)
(3,109)
(7,924)
(570)
(6,145)
(33,137)
(373)
(3,359)
(2,066)
(826)
(1,046)
(144)
(670)
(1,369)
(1,350)
(11,203)|**2022**
**£**
60,719
1,884
30,791
9,830
1,340
7,750
816
5,137
4,500
122,767
(31,824)
(12,481)
(41,128)
(675)
(796)
(13,918)
(3,109)
(7,924)
(570)
(6,145)
(33,137)
(373)
(3,359)
(2,066)
(826)
(1,046)
(144)
(670)
(1,369)
(1,350)
(11,203)|
|---|---|---|---|
||||122,767
(31,824)
(12,481)
(41,128)
(33,137)
(11,203)|
This page does not form part of the statutory financial statements. Page 28
## **Bourne End (Buckinghamshire) Community Association**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2023 (continued)**
|**Depreciation**
Depreciation of long leasehold property
Depreciation of fixtures and fittings|**2023**
**£**
(1,602)
(7,166)
(8,768)
14,270|**2022**
**£**
(1,602)
(6,122)
(7,724)
(14,730)|**2022**
**£**
(1,602)
(6,122)
(7,724)
(14,730)|
|---|---|---|---|
||||(14,730)|
This page does not form part of the statutory financial statements. Page 29