REGISTERED CHARITY NUMBER: 301438
TRUSTEES' REPORT AND
AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
FOR
WITHAM COMMUNITY ASSOCIATION
THP Limited
Chartered Accountants
and Statutory Auditors
34-40 High Street
Wanstead
London
E11 2RJ
WITHAM COMMUNITY ASSOCIATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
|
|
Page |
|
Trustees' Report |
1 |
to |
3 |
Report of the Independent Auditors |
4 |
to |
6 |
Statement of Financial Activities |
|
7 |
|
Balance Sheet |
|
8 |
|
Notes to the Financial Statements |
9 |
to |
14 |
Detailed Statement of Financial Activities |
15 |
to |
16 |
WITHAM COMMUNITY ASSOCIATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2021
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31March2021. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableinthe UK
and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
The objects of the charity are:
"TopromotethebenefitofinhabitantsofWithaminparticularandthewiderareaofEssexingeneral(hereand after
called"areaofbenefit")withoutdistinctionofsexorpolitical,religiousorotheropinionsbyassociatingwith local
authorities,voluntaryorganisationandinhabitantsacommonefforttoadvanceeducationandtoprovidefacilitiesin the
interestofsocialwelfareforrecreationandleisuretimeoccupationwiththeobjectofimprovingtheconditionsoflife for
the said inhabitants".
"Toestablishorsecuretheestablishmentofacommunitycentre(hereandaftercalledthe"centre")andtomaintain and
manage,ortoco-operatewithanylocalstatutoryauthorityinmaintenanceandmanagementofsuchacentre for
activities promoted by association and its constituent bodies in furtherance of the above objects."
"To promote such other charitable purposes as made from time to time be determined."
In carrying out this review the trustees have considered the Charity Commission's general guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Themainareasofcharitableactivityaretheprovisionofpre-schoolfacilitiesforchildrenandthesupportof community
activities.
Themainachievementduringtheyear,despitetheongoingimpactoftheCoronaviruspandemic,hasbeento maintain
the activities carried out at the Community Centre.
FINANCIAL REVIEW
Financial position and performance
Themanagementcommitteearecontinuingtoseektoreducecostsandmaximiseincome.Theaccountsshowa surplus
for the year of £12,943 (2020: 791).
The trustees report that the charity has a surplus of funds of £19,828 (2020: £6,885).
TheresultsoftheCharity'stradingsubsidiaryarerecordedinnote8ofthesefinancialstatementswhichindicate that
subsidiaryundertakinghasabalancesheetdeficit.Astheresultofthe3nationallockdownsimposedduring2020 and
2021,thetradingsubsidiarywasnotabletotradeforthemajorityoftheyear.Thetrusteesarehopefulthat subsidiary
undertaking's deficit position will be rectified in the coming years.
Reserves policy
Themanagementcommittee'saimsaretobuildreservesuptomaintainsufficientliquidbalancetocover6 months
unrestricted expenditure.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
Themanagementcommitteeareappointedatanannualgeneralmeetingtogetherwithhonoraryofficersforthe positions
of Chairman and Treasurer.
Organisational structure
The policy and general management of the affairs of the charity is the responsibility of the management committee.
Page 1
WITHAM COMMUNITY ASSOCIATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate
controls are in place to provide reasonable assurance against fraud and error.
Thetrusteesareexaminingthemajorstrategicbusinessandoperationalriskswhichtheircharityfacessothat the
necessary steps to mitigate these risks are taken.
Coronavirus Pandemic
TheCovid-19pandemichaspresentedaunique,unprecedentedanduncertainrisktotheservices,operations, and
financesoftheCharity.Servicedeliveryandstaffingarrangementswererapidlyadaptedtoenableustofulfilour mission
tothebestofourabilityduringthecrisis,whileprotectingthecharity'sfinancialpositionanditsabilitytorecover when
thesituationimproved.TheCharitywasabletoutilisethefurloughschemeandsecuredaGovernmentsupported Bounce
Backloan.Thetrusteeswillcontinueintensivemonitoringandactionplanningtorespondtochanging circumstances
resulting from Covid-19 for as long as is necessary during 2021/22 and beyond.
TheTrusteesaresatisfiedthattheaboverisksarebeingconsistentlyandeffectivelymanagedandmitigatedand consider
thattheresultantriskprofileisacceptableandappropriateinrelationtotheCharity'sobjectivesandresponsibilities. The
natureoftheserviceswhichtheCharityprovidestoserviceusers,andtheenvironmentwithinwhichthecharity operates,
meanthatwewillinevitablyfacerisksduetofactorsbeyondourcontrol.Wearewillingtotoleratehigherrisksif they
can be justified by the potential benefits for children and other service users.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
301438
Principal address
Powers Hall End
Witham
Essex
CM8 2HE
Trustees
T A Voice
P Ellis
D Jenkins
Auditors
THP Limited
Chartered Accountants
and Statutory Auditors
34-40 High Street
Wanstead
London
E11 2RJ
Bankers
Lloyds TSB
77-81 High street
Chelmsford
Essex
CM1 1DU
PLANS FOR FUTURE PERIODS
Thecharityplanscontinuingtheactivitiesoutlinedaboveintheforthcomingyearssubjecttosatisfactoryfunding. The
charity will also focus on rebuilding activity post Covid-19.
TRUSTEES' RESPONSIBILITY STATEMENT
ThetrusteesareresponsibleforpreparingtheTrustees'Reportandthefinancialstatementsinaccordancewith applicable
law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 2
WITHAM COMMUNITY ASSOCIATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021
TRUSTEES' RESPONSIBILITY STATEMENT - continued
ThelawapplicabletocharitiesinEnglandandWales,theCharitiesAct2011,Charity(AccountsandReports) Regulations
2008andtheprovisionsofthetrustdeedrequiresthetrusteestopreparefinancialstatementsforeachfinancial year
whichgiveatrueandfairviewofthestateofaffairsofthecharityandoftheincomingresourcesandapplication of
resources,includingtheincomeandexpenditure,ofthecharityforthatperiod.Inpreparingthosefinancial statements,
the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyatany time
thefinancialpositionofthecharityandtoenablethemtoensurethatthefinancialstatementscomplywiththe Charities
Act2011,theCharity(AccountsandReports)Regulations2008andtheprovisionsofthetrustdeed.Theyare also
responsibleforsafeguardingtheassetsofthecharityandhencefortakingreasonablestepsfortheprevention and
detection of fraud and other irregularities.
Approved by order of the board of trustees on 14 January 2022 and signed on its behalf by:
T A Voice - Trustee
Page 3
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
WITHAM COMMUNITY ASSOCIATION
Opinion
WehaveauditedthefinancialstatementsofWithamCommunityAssociation(the'charity')fortheyear ended
31March2021whichcomprisetheStatementofFinancialActivities,theBalanceSheetandnotestothe financial
statements,includingasummaryofsignificantaccountingpolicies.Thefinancialreportingframeworkthathas been
appliedintheirpreparationisapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdom Generally
Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 March 2021 and of its incoming resources and application of resources, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicablelaw. Our
responsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditofthe financial
statementssectionofourreport.Weareindependentofthecharityinaccordancewiththeethicalrequirementsthat are
relevanttoourauditofthefinancialstatementsintheUK,includingtheFRC'sEthicalStandard,andwehavefulfilled our
otherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethattheauditevidencewehave obtained
is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasisofaccounting in
the preparation of the financial statements is appropriate.
Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoeventsor conditions
that,individuallyorcollectively,maycastsignificantdoubtonthecharity'sabilitytocontinueasagoingconcernfor a
period of at least twelve months from when the financial statements are authorised for issue.
Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribedinthe relevant
sections of this report.
Other information
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincludedin the
Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextentotherwise explicitly
stated in our report, we do not express any form of assurance conclusion thereon.
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,in doing
so,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsorour knowledge
obtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuchmaterialinconsistencies or
apparentmaterialmisstatements,wearerequiredtodeterminewhetherthisgivesrisetoamaterialmisstatementin the
financialstatementsthemselves.If,basedontheworkwehaveperformed,weconcludethatthereisa material
misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
WehavenothingtoreportinrespectofthefollowingmatterswheretheCharities(AccountsandReports) Regulations
2008 requires us to report to you if, in our opinion:
-
the information given in the trustees Report is inconsistent in any material respect with the financial statements; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
AsexplainedmorefullyintheTrustees'ResponsibilitiesStatement,thetrusteesareresponsibleforthepreparationof the
financialstatementswhichgiveatrueandfairview,andforsuchinternalcontrolasthetrusteesdetermineis necessary
to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sabilitytocontinueasa going
concern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasisof accounting
unlessthetrusteeseitherintendtoliquidatethecharityortoceaseoperations,orhavenorealisticalternativebutto do
so.
Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
WITHAM COMMUNITY ASSOCIATION
Our responsibilities for the audit of the financial statements
WehavebeenappointedasauditorsunderSection144oftheCharitiesAct2011andreportinaccordancewiththe Act
and relevant regulations made or having effect thereunder.
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from
materialmisstatement,whetherduetofraudorerror,andtoissueaReportoftheIndependentAuditorsthatincludes our
opinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedin accordance
withISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerror and
areconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencethe economic
decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The extent to which the audit was considered capable of detecting irregularities including fraud
Ourapproachtoidentifyingandassessingtherisksofmaterialmisstatementinrespectofirregularities,including fraud
and non-compliance with laws and regulations, was as follows:
-theengagementpartnerensuredthattheengagementteamcollectivelyhadtheappropriatecompetence, capabilities
and skills to identify or recognise non-compliance with applicable laws and regulations;
-weidentifiedthelawsandregulationsapplicabletotheCharitythroughdiscussionswithtrusteesand other
management, and from our knowledge and experience of the sector in which the Charity operates;
-wefocusedonspecificlawsandregulationswhichweconsideredmayhaveadirectmaterialeffectonthe financial
statementsortheoperationsoftheCharity,CharitiesActandSORPrequirements,GeneralDataProtection Regulations
(GDPR), Safeguarding, Employment and Health and Safety legislation.
-weassessedtheextentofcompliancewiththelawsandregulationsidentifiedabovethroughmakingenquiries of
management and inspecting legal correspondence; and
-identifiedlawsandregulationswerecommunicatedwithintheauditteamregularlyandtheteamremainedalert to
instances of non-compliance throughout the audit.
WeassessedthesusceptibilityoftheCharity'sfinancialstatementstomaterialmisstatement,includingobtaining an
understanding of how fraud might occur, by:
-makingenquiriesofmanagementastowheretheyconsideredtherewassusceptibilitytofraud,theirknowledge of
actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
-assessedwhetherjudgementsandassumptionsmadeindeterminingtheaccountingestimateswereindicative of
potential bias; and
- investigated the rationale behind significant or unusual transactions.
Inresponsetotheriskofirregularitiesandnon-compliancewithlawsandregulations,wedesignedprocedures which
included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with the Charities Commission and any other relevant regulators as required.
Thereareinherentlimitationsinourauditproceduresdescribedabove.Themoreremovedthatlawsandregulations are
fromfinancialtransactions,thelesslikelyitisthatwewouldbecomeawareofnon-compliance.Auditingstandards also
limittheauditproceduresrequiredtoidentifynon-compliancewithlawsandregulationstoenquiryofthetrustees and
other management and the inspection of regulatory and legal correspondence, if any.
Materialmisstatementsthatariseduetofraudcanbehardertodetectthanthosethatarisefromerrorasthey may
involve deliberate concealment or collusion.
AfurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedontheFinancial Reporting
Council'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReportofthe Independent
Auditors.
Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
WITHAM COMMUNITY ASSOCIATION
Use of our report
Thisreportismadesolelytothecharity'strustees,asabody,inaccordancewithPart4oftheCharities(Accounts and
Reports)Regulations2008.Ourauditworkhasbeenundertakensothatwemightstatetothecharity'strustees those
matterswearerequiredtostatetotheminanauditors'reportandfornootherpurpose.Tothefullestextent permitted
bylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecharityandthecharity'strusteesasa body,
for our audit work, for this report, or for the opinions we have formed.
THP Limited
Chartered Accountants
and Statutory Auditors
34-40 High Street
Wanstead
London
E11 2RJ
14 January 2022
Page 6
WITHAM COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Other charitable activities
2
Other income
3
Total
EXPENDITURE ON
Raising funds
Charitable activities
Generating funds
Charitable Activities
Governance
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
2021
Unrestricted
funds
£
556
121,167
88,730
210,453
45,703
38
143,221
8,548
197,510
12,943
6,885
19,828 |
2020
Total
funds
£
2,684
215,415
- |
|
|
218,099
69,598
-
138,497
9,213 |
|
|
217,308 |
|
|
791
6,094 |
|
|
6,885 |
The notes form part of these financial statements
Page 7
WITHAM COMMUNITY ASSOCIATION
BALANCE SHEET 31 MARCH 2021
U
Notes
FIXED ASSETS
Tangible assets
7
Investments
8
CURRENT ASSETS
Stocks
9
Debtors
10
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
12
NET ASSETS/(LIABILITIES)
FUNDS
14
Unrestricted funds
TOTAL FUNDS |
2021
nrestricted
funds
£
7,090
1
7,091
938
26,168
58,107
85,213
(24,143)
61,070
68,161
(48,333)
19,828
19,828
19,828 |
2020
Total
funds
£
8,597
1
8,598
938
16,226
3,841
21,005
(22,718)
(1,713)
6,885
-
6,885
6,885
6,885 |
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon14January2022and were
signed on its behalf by:
T A Voice - Trustee
The notes form part of these financial statements
Page 8
WITHAM COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements and going concern
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andtheCharities Act
2011.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of
investments which are included at market value.
Thesefinancialstatementsarepreparedonthegoingconcernbasis,whichassumestheabilityofthecharity to
continueitscharitableactivitiesfortheforeseeablefuture,beingaperiodofnotlessthantwelvemonthsfrom the
approval of these accounts.
Financial reporting standard 102 - reduced disclosure exemptions
Thecharityhastakenadvantageofthefollowingdisclosureexemptionsinpreparingthesefinancialstatements, as
permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
the requirements of Section 7 Statement of Cash Flows.
Incoming resources
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
Resources expended
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment and fixtures and fittings- 25% on reducing balance
Bar equipment and fittings- 10% on cost
Stocks
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsoleteand slow
moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Hire purchase and leasing commitments
RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitiesonastraightline basis
over the period of the lease.
Pension costs and other post-retirement benefits
Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothecharity's pension
scheme are charged to the Statement of Financial Activities in the period to which they relate.
Government grants
Government grants are accounted for on a receivable basis.
continued...
Page 9
WITHAM COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
2. OTHER CHARITABLE ACTIVITIES
Hall hire
Pool table
Vending machines
Fruit machines
Children's activities
Social events
Sundry income
Affiliation and membership fee
Rents received from Spring Lodge Centre
Limited
OTHER INCOME
Government grants |
2021
Unrestricted
funds
£
33,524
-
18
-
82,384
-
5,241
-
-
121,167
2021
Unrestricted
funds
£
88,730 |
2020
Total
funds
£
88,131
33
888
368
106,181
619
13,629
1,406
4,160 |
|
|
215,415 |
|
|
2020
Total
funds
£
- |
3. OTHER INCOME
Other income relates to Coronavirus Job Retention Scheme (CJRS) and other Covid related grants.
4. AUDITORS' REMUNERATION
Fees payable to the charity's auditors for the audit of the charity's financial
statements
Other non-audit services
Total fees payable |
2021
2020
£
£
2,500
2,500
1,500
1,800
4,000
4,300 |
2021
2020
£
£
2,500
2,500
1,500
1,800
4,000
4,300 |
|
|
1,800 |
|
|
4,300 |
5. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2021norfortheyear ended
31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
continued...
Page 10
WITHAM COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
Total staff
No employees received emoluments in excess of £60,000.
7.
TANGIBLE FIXED ASSETS
COST
At 1 April 2020
Additions
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020
8.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 April 2020 and 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020 |
Equipment
and
fixtures
and
fittings
£
125,801
869
126,670
117,273
2,349
119,622
7,048
8,528 |
2021
12
Bar
equipment
and
fittings
£
30,251
-
30,251
30,182
27
30,209
42
69
I |
2020
16
Totals
£
156,052
869
156,921
147,455
2,376
149,831
7,090
8,597
nvestments
£
1
1
1 |
|
|
|
|
|
|
|
|
|
|
|
nv |
There were no investment assets outside the UK.
Fixedassetinvestmentsrelatetocharity's100%ownershipofSpringLodgeCentreLimitedwhichisa trading
company. The results of Spring Lodge Centre Limited are as follows:
|
2021
2020 |
2021
2020 |
|
£
£ |
|
Turnover |
489
47,191 |
|
Profit/(Loss) for the year |
(4,445)
1,769 |
|
Aggregate capital and reserves |
(15,727)
(11,282) |
|
|
|
|
continued...
Page 11
WITHAM COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
9. |
STOCKS |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Stocks |
938 |
938 |
10. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Trade debtors |
385 |
1,282 |
|
Amount owed by group |
|
|
|
undertaking |
14,355 |
12,481 |
|
Other debtors |
1,703 |
1,703 |
|
VAT |
1,605 |
660 |
|
Prepayments |
8,120 |
100 |
|
|
26,168 |
16,226 |
11. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Bank loans and overdrafts (see note 13) |
1,667 |
- |
|
Deferred income |
2,767 |
5,252 |
|
Trade creditors |
10,251 |
4,896 |
|
Social security and other taxes |
2,989 |
4,124 |
|
Accrued expenses |
6,469 |
8,446 |
|
|
24,143 |
22,718 |
12. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Bank loans (see note 13) |
48,333 |
- |
13. |
LOANS |
|
|
|
An analysis of the maturity of loans is given below: |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Amounts falling due within one year on demand: |
|
|
|
Bank loans |
1,667 |
- |
|
Amounts falling between one and two years: |
|
|
|
Bank loans - 1-2 years |
10,000 |
- |
|
Amounts falling due between two and five years: |
|
|
|
Bank loans - 2-5 years |
38,333 |
- |
ThebankloanissupportedandsecuredbytheUKGovernment'sBounceBackLoanScheme(BBLS).Interest will
bechargedatafixedrateof2.5%andthebalanceisrepayableover60monthswiththefirstpaymentdue 12
months after inception.
continued...
Page 12
WITHAM COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021
14. MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are as foll
Unrestricted funds
General fund
TOTAL FUNDS |
At 1.4.20
£
6,885
6,885
Incoming
resources
£
210,453
210,453
At 1.4.19
£
6,094
6,094
ows:
Incoming
resources
£
218,099
218,099 |
Net
movement
in funds
£
12,943
12,943
Resources
expended
£
(197,510)
(197,510)
Net
movement
in funds
£
791
791
Resources
expended
£
(217,308)
(217,308) |
|
At
31.3.21
£
19,828 |
|
|
|
|
19,828 |
|
|
|
|
Movement
in funds
£
12,943 |
|
|
|
|
12,943 |
|
|
|
|
At
31.3.20
£
6,885
6,885
Movement
in funds
£
791 |
|
|
|
|
791 |
15. RELATED PARTY DISCLOSURES
Duringtheyearthecharityreceivedrentof£nil(2020:£4,160)fromthesubsidiaryundertakingfortheuse of
charity premises.
Included in debtors is an amount due from the subsidiary undertaking of £14,355 (2020: £12,481).
continued...
Page 13
WITHAM COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021
16. LEASED PREMISES
ThepremisesatSpringLodgeisheldona50yearsleasewithBraintreeDistrictCouncilonayearlyrentof one
peppercorn (if demanded).
Page 14
WITHAM COMMUNITY ASSOCIATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other charitable activities
Hall hire
Pool table
Vending machines
Fruit machines
Children's activities
Social events
Sundry income
Affiliation and membership fee
Rents received from Spring Lodge Centre Limited
Other income
Government grants
Total incoming resources
EXPENDITURE
Raising donations and legacies
Staff costs
Social security
Pensions
Events
Purchases and sunday market
Vending machine purchases
Fruit machines
Machine game duty
Consumables and provisions
Other trading activities
Bad debts
Charitable activities
Wages
Social security
Equipment rental
Rates and water
Insurance
Light and heat
Telephone
Printing, postage ,stationery and computer costs
Advertising
Sundries
Training
Staff welfare
Trade waste fees
Carried forward |
2021
£
556
33,524
-
18
-
82,384
-
5,241
-
-
121,167
88,730
210,453
40,947
755
1,925
40
636
-
-
45
1,455
45,803
(100)
85,143
1,563
722
3,632
8,753
14,365
5,147
3,858
54
25
378
23
1,661
125,324 |
2020
£
2,684
88,131
33
888
368
106,181
619
13,629
1,406
4,160
215,415
-
218,099
62,753
1,593
1,968
165
1,469
816
1,192
81
2,241
72,278
(2,680)
76,904
1,950
2,049
229
6,864
17,109
4,843
4,280
-
122
175
92
1,564
116,181 |
|
|
|
This page does not form part of the statutory financial statements
Page 15
WITHAM COMMUNITY ASSOCIATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
|
2021 |
2020 |
|
£ |
£ |
Charitable activities |
|
|
Brought forward |
125,324 |
116,181 |
Cleaning materials |
677 |
2,071 |
Repairs and renewals |
6,736 |
7,970 |
Service contracts |
5,708 |
3,509 |
Travelling |
363 |
500 |
Licences |
158 |
605 |
Bank charges |
645 |
1,063 |
Legal and professional |
394 |
660 |
Clothing cost |
14 |
- |
Depn of equipment and fixtures |
2,349 |
2,848 |
Depn of bar equipment and fittings |
28 |
66 |
Financial costs- VAT |
5,402 |
7,937 |
Other interest |
9 |
- |
|
147,807 |
143,410 |
Support costs |
|
|
Governance costs |
|
|
Auditors' remuneration |
2,500 |
2,500 |
Auditors' remuneration for non audit work |
1,500 |
1,800 |
|
4,000 |
4,300 |
Total resources expended |
197,510 |
217,308 |
Net income |
12,943 |
791 |
This page does not form part of the statutory financial statements
Page 16