DocuSign Envelope ID: 4F00B71A-CE04-488F-B848-89B1830FDC63
REGISTERED CHARITY NUMBER: 301428
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31st March 2022
for
Waltham Abbey Community Association
Apple Accounting Services Ltd Chartered Management Accountants 12b Sun Street Waltham Abbey Essex EN9 1EE
DocuSign Envelope ID: 4F00B71A-CE04-488F-B848-89B1830FDC63
Waltham Abbey Community Association
Contents of the Financial Statements for the year ended 31st March 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
DocuSign Envelope ID: 4F00B71A-CE04-488F-B848-89B1830FDC63
Waltham Abbey Community Association
Report of the Trustees
for the year ended 31st March 2022
The trustees present their report with the financial statements of the charity for the year ended 31st March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and activities
To create an excellent Community Centre and one of which the town is proud.
To have clear achievable targets.
To benefit the Community by providing facilities for recreational and leisure time for welfare and social integration, whereby improving the conditions of life for local people of all ages.
To develop partnerships with business, local government and the wider community and provide an umbrella organisation for mutual benefit and community development.
To be a meeting place for the town.
To develop the esteem of the community locally and further afield.
To manage the resources of the Centre effectively.
To look to the future with a view to refurbish and maintain the present Community Centre and to continue to keep our high standards.
ACHIEVEMENT AND PERFORMANCE
Achievements and performance
Due to the continuance of Covid 19, for the first half of the year, the Community Centre was only open to groups involved in the provision of activities that benefited children's health and wellbeing.
Staff were still being fully, or partially, furloughed.
The Community Centre was finally allowed to reopen fully on 2nd August 2021. Our regular Groups gradually started to return as confidence grew and general hall hire for functions began to pick up again.
The Community Centre is a vital hub for the people of Waltham Abbey. We hope, that now we are fully reopen our income will increase back to its pre Covid level.
We are grateful for the support given by our volunteers and staff which enables us to continue to meet our commitments.
FINANCIAL REVIEW
Financial position
The attached accounts show the finances for the year. With reduced financial assistance in the period and in light of a reduced period whereby we were able to open a loss was unfortunately inevitable, we hope to return to profitability in the forthcoming year.
The trustees are happy that a proper accounting record has been kept which discloses with reasonable accuracy at any time the financial position of the charity and that all reasonable steps have been taken for the prevention and detection of fraud and other irregularities.
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Waltham Abbey Community Association
Report of the Trustees
for the year ended 31st March 2022
FINANCIAL REVIEW
Reserves policy
The trustees have built up cash reserves to enable the CA to continue operating, in the short term, if it were not able to hire out halls for income, the level of reserves would cover our legal and financial obligations.
Reserves may also be used for any future contingencies that may occur that are not day to day running costs but essential repairs or replacement of goods that if not implemented could put at risk the level of income received by the Community Association.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Constitution
The Waltham Abbey Community Association is a registered charity and the current constitution was adopted in July 1998.
Risk Management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have examined the operational and business risks that we face and confirm that they have established systems to mitigate the significant risks. These systems are updated regularly in the light of further risk assessment.
Related Party Transactions
There were no related party transactions.
Risk Management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have examined the operational and business risks that we face and confirm that they have established systems to mitigate the significant risks. These systems are updated regularly in the light of further risk assessment.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
301428
Principal address
46 Crooked Mile Waltham Abbey Essex EN9 1QD
Trustees
J McAlpin President J Richards Chairman G Mildon Hon Secretary B Dale Treasurer and Membership Secretary J Money Committee Member J Street Committee Member K Burgess Committee Member
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Waltham Abbey Community Association
Report of the Trustees for the year ended 31st March 2022
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Apple Accounting Services Ltd Chartered Management Accountants 12b Sun Street Waltham Abbey Essex EN9 1EE
Approved by order of the board of trustees on 7th November 2022 and signed on its behalf by:
J Richards - Trustee
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Independent Examiner's Report to the Trustees of Waltham Abbey Community Association
Independent examiner's report to the trustees of Waltham Abbey Community Association
I report to the charity trustees on my examination of the accounts of Waltham Abbey Community Association (the Trust) for the year ended 31st March 2022.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable 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.
Paul McKay BA FCMA CGMA Apple Accounting Services Ltd Chartered Management Accountants 12b Sun Street Waltham Abbey Essex EN9 1EE 07 November 2022 Date: .............................................
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Waltham Abbey Community Association
Statement of Financial Activities
for the year ended 31st March 2022
| Unrestricted Restricted funds funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2,184 - Charitable activities Provision of halls 47,242 - Investment income 2 4 - Other income 4,974 - Total 54,404 - EXPENDITURE ON Charitable activities Provision of daycare - - Provision of halls 62,733 - Other - - Total 62,733 - NET INCOME/(EXPENDITURE) (8,329) - RECONCILIATION OF FUNDS Total funds brought forward 22,704 - TOTAL FUNDS CARRIED FORWARD 14,375 - |
2022 Total funds £ 2,184 47,242 4 4,974 54,404 - 62,733 - 62,733 (8,329) 22,704 14,375 |
2021 Total funds £ 4,151 46,007 10 18,391 |
|---|---|---|
| 68,559 | ||
| 689 57,374 10,243 |
||
| 68,306 | ||
| 253 22,451 |
||
| 22,704 |
The notes form part of these financial statements
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Waltham Abbey Community Association
Balance Sheet
31st March 2022
| Unrestricted Restricted funds funds Notes £ £ CURRENT ASSETS Debtors 6 363 - Cash at bank and in hand 18,862 - 19,225 - CREDITORS Amounts falling due within one year 7 (4,850) - NET CURRENT ASSETS 14,375 - TOTAL ASSETS LESS CURRENT LIABILITIES 14,375 - NET ASSETS 14,375 - FUNDS 8 Unrestricted funds TOTAL FUNDS |
2022 Total funds £ 363 18,862 19,225 (4,850) 14,375 14,375 14,375 14,375 14,375 |
2021 Total funds £ 276 26,192 26,468 (3,764) 22,704 22,704 22,704 22,704 22,704 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 7th November 2022 and were signed on its behalf by:
J Richards - Trustee
G Mildon - Trustee
The notes form part of these financial statements
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Waltham Abbey Community Association
Notes to the Financial Statements
for the year ended 31st March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements and assessment of going concern
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand includes cash, bank current accounts and deposit accounts.
Creditors
Creditors are recognised where th charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially settled at transaction value and subsequently measured at their settlement value.
continued...
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Waltham Abbey Community Association
Notes to the Financial Statements - continued for the year ended 31st March 2022
2. INVESTMENT INCOME
----- Start of picture text -----
2022 2021
£ £
Deposit account interest 4 10
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3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2022 nor for the year ended 31st March 2021.
The charity consider its key personnel to comprise the trustees and the general manager. Total remuneration to key personnel is £17,503 excluding employers national insurance (2021: £17,000).
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2022 nor for the year ended 31st March 2021.
4. STAFF COSTS
5.
| Wages and salaries The average monthly number of employees during the year was as follows: Day Centre & Association No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 4,151 Charitable activities Provision of halls 46,007 Investment income 10 Other income 18,391 Total 68,559 EXPENDITURE ON Charitable activities Provision of daycare 689 Provision of halls 57,374 |
2022 £ 37,290 37,290 2022 5 Restricted funds £ - - - - - - - |
2021 £ 40,052 40,052 2021 6 Total funds £ 4,151 46,007 10 18,391 68,559 689 57,374 |
2021 £ 40,052 40,052 2021 6 Total funds £ 4,151 46,007 10 18,391 68,559 689 57,374 |
|---|---|---|---|
| 68,559 | |||
| 689 57,374 |
continued...
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Waltham Abbey Community Association
Notes to the Financial Statements - continued for the year ended 31st March 2022
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - | continued | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| £ | £ | £ | |||
| Other | 10,243 | - | 10,243 | ||
| Total | 68,306 | - | 68,306 | ||
| NET INCOME | 253 | - | 253 | ||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 22,451 | - | 22,451 | ||
| TOTAL FUNDS CARRIED FORWARD | 22,704 | - | 22,704 | ||
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Other debtors | 100 | - | |||
| Prepayments | 263 | 276 | |||
| 363 | 276 | ||||
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Other creditors | 4,850 | 3,764 | |||
| 8. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.4.21 | in funds | 31.3.22 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| Community Association - general fund | 22,704 | (8,329) | 14,375 | ||
| TOTAL FUNDS | 22,704 | (8,329) | 14,375 |
continued...
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Waltham Abbey Community Association
Notes to the Financial Statements - continued for the year ended 31st March 2022
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| Community Association - general fund | 54,404 | (62,733) | (8,329) | |
| TOTAL FUNDS | 54,404 | (62,733) | (8,329) | |
| Comparatives for movement in funds | ||||
| Net | Transfers | |||
| movement | between | At | ||
| At 1.4.20 | in funds | funds | 31.3.21 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| Community Association - general fund | 16,115 | 6,859 | (270) | 22,704 |
| Day Centre - general fund | 1,526 | (10,932) | 9,406 | - |
| Day Centre - designated fund | 4,810 | 4,326 | (9,136) | - |
| 22,451 | 253 | - | 22,704 | |
| TOTAL FUNDS | 22,451 | 253 | - | 22,704 |
| Comparative net movement in funds, included in the above are as | follows: | |||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| Community Association - general fund | 64,233 | (57,374) | 6,859 | |
| Day Centre - general fund | - | (10,932) | (10,932) | |
| Day Centre - designated fund | 4,326 | - | 4,326 | |
| 68,559 | (68,306) | 253 | ||
| TOTAL FUNDS | 68,559 | (68,306) | 253 |
Community Association - general fund: monies from normal activities of the community association.
Day Centre - general fund: Monies from normal activities of the Day Centre - now closed
Day Centre - designated fund: Monies belonging to the Day Centre, ring-fenced, to be held in case of emergencies - now closed
continued...
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Waltham Abbey Community Association
Notes to the Financial Statements - continued for the year ended 31st March 2022
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2022.
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Waltham Abbey Community Association
Detailed Statement of Financial Activities for the year ended 31st March 2022
| Detailed Statement of Financial Activities for the year ended 31st March 2022 |
||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 2,184 | 4,151 |
| Investment income | ||
| Deposit account interest | 4 | 10 |
| Charitable activities | ||
| Grants | 9,763 | 23,597 |
| Donations and gifts | 567 | 1,300 |
| Hall hire and rental | 5,199 | 229 |
| Affiliation group rent | 31,713 | 20,881 |
| 47,242 | 46,007 | |
| Other income | ||
| Job Retention Scheme | 4,974 | 18,391 |
| Total incoming resources | 54,404 | 68,559 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages and salaries | 37,290 | 34,068 |
| Rent and rates | 2,457 | 1,168 |
| Insurance | 5,279 | 5,192 |
| Light and heat | 4,692 | 3,173 |
| Telephone | 1,307 | 816 |
| Postage, stationery and office expenditure | 416 | 514 |
| Computer expenses | 250 | 57 |
| Affiliation fees and licences | 1,475 | 2,843 |
| General building improvements and repairs | 5,391 | 5,048 |
| Cleaning and casual assistance | 705 | 425 |
| Refuse collection | 1,033 | 1,119 |
| Bad debts | - | 15 |
| 60,295 | 54,438 | |
| Other | ||
| Wages and salaries | - | 5,984 |
| Redundancy costs | - | 4,259 |
| - | 10,243 |
This page does not form part of the statutory financial statements
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Waltham Abbey Community Association
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the year ended 31st March 2022 | ||
| 2022 | 2021 | |
| £ | £ | |
| Support costs | ||
| Finance | ||
| Bank charges | 19 | - |
| Governance costs | ||
| Accountancy and legal fees | 2,419 | 3,625 |
| Total resources expended | 62,733 | 68,306 |
| Net (expenditure)/income | (8,329) | 253 |
This page does not form part of the statutory financial statements
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