REGISTERED CHARITY NUMBER: 301438
TRUSTEES' REPORT AND
AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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 2022
|
|
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 |
13 |
Detailed Statement of Financial Activities |
14 |
to |
15 |
WITHAM COMMUNITY ASSOCIATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2022
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31March2022. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicablein the
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,voluntaryorganisationsandinhabitantsinacommonefforttoadvanceeducationandtoprovide facilities
intheinterestofsocialwelfareforrecreationandleisuretimeoccupationwiththeobjectofimprovingthe conditions
of life for the said inhabitants".
"Toestablishorsecuretheestablishmentofacommunitycentre(hereandaftercalledthe"centre")andto maintain
andmanage,ortoco-operatewithanylocalstatutoryauthorityinmaintenanceandmanagementofsuchacentre for
activities promoted by the association and its constituent bodies in furtherance of the above objects."
"To promote such other charitable purposes as may 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-schoolfacilitiesforchildrenandthesupport of
community activities.
The main achievement during the year has been to maintain the activities carried out at the Community Centre.
FINANCIAL REVIEW
Financial position and performance
Themanagementcommitteearecontinuingtoseektoreducecostsandmaximiseincome.Theaccountsshowa deficit
for the year of £10,256 (2021: £12,943 surplus).
The trustees report that the charity has a surplus of funds of £9,572 (2021: £19,828).
TheresultsoftheCharity'stradingsubsidiaryarerecordedinnote8ofthesefinancialstatementswhichindicate that
subsidiaryundertakinghasabalancesheetdeficit.Astheresultofthe3nationallockdownsimposedduringthe past
twoyears,thetradingsubsidiarywasnotabletotradeforsomepartoftheyear.Thetradingsubsidiaryhas made
profitintheyearto31March2022andtrusteesarehopefulthatit'sdeficitpositionwillberectifiedinthe coming
years.
Reserves policy
Themanagementcommittee'saimsaretobuildreservesuptomaintainsufficientliquidbalancetocover6 months
unrestricted expenditure.
However,asaresponsetoCovid-19andtheresultingfinancialdifficulties,ithasnotbeenpossibletomaintain this
level of reserves.
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
Themanagementcommitteeareappointedatanannualgeneralmeetingtogetherwithhonoraryofficersfor the
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 2022
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.Servicedeliveryandstaffingarrangementswererapidlyadaptedtoenableustofulfil our
missiontothebestofourabilityduringthecrisis,whileprotectingthecharity'sfinancialpositionanditsability to
recoverwhenthesituationimproved.TheCharitywasabletoutilisethefurloughschemeandsecureda Government
supported Bounce Back loan.
TheTrusteesaresatisfiedthattheaboverisksarebeingconsistentlyandeffectivelymanagedandmitigated and
considerthattheresultantriskprofileisacceptableandappropriateinrelationtotheCharity'sobjectives and
responsibilities.ThenatureoftheserviceswhichtheCharityprovidestoserviceusers,andtheenvironment within
whichthecharityoperates,meanthatwewillinevitablyfacerisksduetofactorsbeyondourcontrol.Wearewilling to
tolerate higher risks if 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 continue focusing on rebuilding activity post Covid-19.
TRUSTEES' RESPONSIBILITY STATEMENT
ThetrusteesareresponsibleforpreparingtheTrustees'Reportandthefinancialstatementsinaccordance with
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 2022
TRUSTEES' RESPONSIBILITY STATEMENT - continued
ThelawapplicabletocharitiesinEnglandandWales,theCharitiesAct2011,Charity(Accountsand Reports)
Regulations2008andtheprovisionsofthetrustdeedrequiresthetrusteestopreparefinancialstatementsfor each
financialyearwhichgiveatrueandfairviewofthestateofaffairsofthecharityandoftheincomingresources and
applicationofresources,includingtheincomeandexpenditure,ofthecharityforthatperiod.Inpreparing those
financial 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.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyat any
timethefinancialpositionofthecharityandtoenablethemtoensurethatthefinancialstatementscomplywith the
CharitiesAct2011,theCharity(AccountsandReports)Regulations2008andtheprovisionsofthetrustdeed. They
arealsoresponsibleforsafeguardingtheassetsofthecharityandhencefortakingreasonablestepsfor the
prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 23 January 2023 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
31March2022whichcomprisetheStatementofFinancialActivities,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 2022 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))andapplicable law.
OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditof the
financialstatementssectionofourreport.Weareindependentofthecharityinaccordancewiththe ethical
requirementsthatarerelevanttoourauditofthefinancialstatementsintheUK,includingtheFRC'sEthical Standard,
andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethat the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasisof accounting
in the preparation of the financial statements is appropriate.
Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoevents or
conditionsthat,individuallyorcollectively,maycastsignificantdoubtonthecharity'sabilitytocontinueasa going
concern for 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.Theotherinformationcomprisestheinformationincluded in
the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand, in
doingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsor our
knowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuch material
inconsistenciesorapparentmaterialmisstatements,wearerequiredtodeterminewhetherthisgivesrisetoa material
misstatementinthefinancialstatementsthemselves.If,basedontheworkwehaveperformed,weconclude that
thereisamaterialmisstatementofthisotherinformation,wearerequiredtoreportthatfact.Wehavenothing 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,thetrusteesareresponsibleforthepreparation of
thefinancialstatementswhichgiveatrueandfairview,andforsuchinternalcontrolasthetrusteesdetermine is
necessarytoenablethepreparationoffinancialstatementsthatarefreefrommaterialmisstatement,whetherdue to
fraud or error.
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sabilitytocontinueas a
goingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasis of
accountingunlessthetrusteeseitherintendtoliquidatethecharityortoceaseoperations,orhaveno realistic
alternative but to 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
WehavebeenappointedasauditorsunderSection144oftheCharitiesAct2011andreportinaccordancewith the
Act and relevant regulations made or having effect thereunder.
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from
materialmisstatement,whetherduetofraudorerror,andtoissueaReportoftheIndependentAuditorsthat includes
ouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconducted in
accordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarise from
fraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpected to
influence the economic decisions of users taken on the basis of these financial statements.
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:
-theengagementpartnerensuredthattheengagementteamcollectivelyhadtheappropriate competence,
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,GeneralData Protection
Regulations (GDPR), Safeguarding, Employment and Health and Safety legislation.
-weassessedtheextentofcompliancewiththelawsandregulationsidentifiedabovethroughmakingenquiries of
management and inspecting legal correspondence; and
WeassessedthesusceptibilityoftheCharity'sfinancialstatementstomaterialmisstatement,includingobtaining an
understanding of how fraud might occur, by:
-
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge 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;
-
assessed whether judgements and assumptions made in determining the accounting estimates were indicative 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.Themoreremovedthatlawsand regulations
arefromfinancialtransactions,thelesslikelyitisthatwewouldbecomeawareofnon-compliance.Auditing standards
alsolimittheauditproceduresrequiredtoidentifynon-compliancewithlawsandregulationstoenquiryofthe trustees
and other management and the inspection of regulatory and legal correspondence, if any.
Materialmisstatementsthatariseduetofraudcanbehardertodetectthanthosethatarisefromerrorasthey may
involve deliberate concealment or collusion.
Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedonthe Financial
ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReportof the
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.Tothefullest extent
permittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecharityandthe charity's
trustees as a 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
23 January 2023
Page 6
WITHAM COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
|
|
2022 |
2021 |
|
|
Unrestricted |
Total |
|
|
funds |
funds |
|
Notes |
£ |
£ |
INCOME AND ENDOWMENTS FROM |
|
|
|
Donations and legacies |
|
345 |
556 |
Other charitable activities |
2 |
158,401 |
121,167 |
Other income |
3 |
35,422 |
88,730 |
Total |
|
194,168 |
210,453 |
EXPENDITURE ON |
|
|
|
Raising funds |
|
54,720 |
45,703 |
Charitable activities |
|
|
|
Generating funds |
|
- |
38 |
Charitable Activities |
|
141,179 |
143,221 |
Governance |
|
8,525 |
8,548 |
Total |
|
204,424 |
197,510 |
NET INCOME/(EXPENDITURE) |
|
(10,256) |
12,943 |
RECONCILIATION OF FUNDS |
|
|
|
Total funds brought forward |
|
19,828 |
6,885 |
TOTAL FUNDS CARRIED FORWARD |
|
9,572 |
19,828 |
The notes form part of these financial statements
Page 7
WITHAM COMMUNITY ASSOCIATION
BALANCE SHEET 31 MARCH 2022
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
FUNDS
14
Unrestricted funds
TOTAL FUNDS |
2022
nrestricted
funds
£
5,737
1
5,738
938
29,326
39,304
69,568
(22,215)
47,353
53,091
(43,519)
9,572
9,572
9,572 |
2021
Total
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 |
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon23January2023 and
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 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements and going concern
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January 2019)',
FinancialReportingStandard102'TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland'andtheCharitiesAct2011.Thefinancialstatementshavebeenpreparedunderthehistorical cost
convention, with the exception of investments which are included at market value.
Thesefinancialstatementsarepreparedonthegoingconcernbasis,whichassumestheabilityofthecharity to
continueitscharitableactivitiesfortheforeseeablefuture,beingaperiodofnotlessthantwelvemonths from
the approval of these accounts.
Financial reporting standard 102 - reduced disclosure exemptions
Thecharityhastakenadvantageofthefollowingdisclosureexemptionsinpreparingthese financial
statements,aspermittedbyFRS102'TheFinancialReportingStandardapplicableintheUKandRepublic 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,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccruals basis
andhasbeenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimated useful
life.
Equipment and fixtures and fittings- 25% on reducing balance
Bar equipment and fittings- 10% on cost
Stocks
Stocksarevaluedatlowerofcostandsellingprice,aftermakingdueallowanceforobsoleteandslow 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.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
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 using the accruals basis.
continued...
Page 9
WITHAM COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
2. OTHER CHARITABLE ACTIVITIES
OTHER CHARITABLE ACTIVITIES |
|
|
|
2022 |
2021 |
|
Unrestricted |
Total |
|
funds |
funds |
|
£ |
£ |
Hall hire |
75,089 |
33,524 |
Vending machines |
40 |
18 |
Children's activities |
69,461 |
82,384 |
Sundry income |
13,811 |
5,241 |
|
158,401 |
121,167 |
3. OTHER INCOME
OTHER INCOME |
|
|
|
2022 |
2021 |
|
Unrestricted |
Total |
|
funds |
funds |
|
£ |
£ |
Government grants |
35,422 |
88,730 |
Other income relates to Coronavirus Job Retention Scheme (CJRS) and other Covid related grants.
4. AUDITORS' REMUNERATION
|
2022 |
2021 |
|
£ |
£ |
Fees payable to the charity's auditors for the audit of the charity's financial |
|
|
statements |
2,500 |
2,500 |
Other non-audit services |
1,500 |
1,500 |
Total fees payable |
4,000 |
4,000 |
5. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2022norforthe year
ended 31 March 2021.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31March2022norfortheyear ended
31 March 2021.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
|
2022 |
2021 |
Total staff |
14 |
12 |
No employees received emoluments in excess of £60,000.
continued...
Page 10
WITHAM COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
7. TANGIBLE FIXED ASSETS
7. |
TANGIBLE FIXED ASSETS |
|
|
|
|
|
|
Equipment |
|
|
|
|
|
|
and |
Bar |
|
|
|
|
fixtures |
equipment |
|
|
|
|
and |
and |
|
|
|
|
fittings |
fittings |
Totals |
|
|
|
£ |
£ |
£ |
|
COST |
|
|
|
|
|
At 1 April 2021 |
126,670 |
|
30,251 |
156,921 |
|
Additions |
|
569 |
- |
569 |
|
At 31 March 2022 |
127,239 |
|
30,251 |
157,490 |
|
DEPRECIATION |
|
|
|
|
|
At 1 April 2021 |
119,622 |
|
30,209 |
149,831 |
|
Charge for year |
|
1,903 |
19 |
1,922 |
|
At 31 March 2022 |
121,525 |
|
30,228 |
151,753 |
|
NET BOOK VALUE |
|
|
|
|
|
At 31 March 2022 |
|
5,714 |
23 |
5,737 |
|
At 31 March 2021 |
|
7,048 |
42 |
7,090 |
8. |
FIXED ASSET INVESTMENTS |
|
|
|
|
|
|
|
|
|
Investments |
|
|
|
|
|
£ |
|
MARKET VALUE |
|
|
|
|
|
At 1 April 2021 and 31 March 2022 |
|
|
|
1 |
|
NET BOOK VALUE |
|
|
|
|
|
At 31 March 2022 |
|
|
|
1 |
|
At 31 March 2021 |
|
|
|
1 |
|
There were no investment assets outside the UK. |
|
|
|
|
|
Fixed asset investments relate to charity's 100% ownership of Spring Lodge |
|
|
Centre Limited which is a tradin |
|
|
company. The results of Spring Lodge Centre Limited are as follows: |
|
|
|
|
|
|
|
|
2022 |
2021 |
|
|
|
|
£ |
£ |
|
Turnover |
|
|
23,374 |
489 |
|
Profit/(Loss) for the year |
|
|
8,027 |
(4,445) |
|
Aggregate capital and reserves |
|
|
(7,700) |
(15,727) |
9. |
STOCKS |
|
|
|
|
|
|
|
|
2022 |
2021 |
|
|
|
|
£ |
£ |
|
Stocks |
|
|
938 |
938 |
10. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
|
|
|
|
2022 |
2021 |
|
|
|
|
£ |
£ |
|
Trade debtors |
|
|
3,110 |
385 |
|
Amount owed by group |
|
|
|
|
|
undertaking |
|
|
10,922 |
14,355 |
|
Other debtors |
|
|
1,703 |
1,703 |
|
VAT |
|
|
461 |
1,605 |
|
Prepayments |
|
|
13,130 |
8,120 |
|
|
|
|
29,326 |
26,168 |
Fixedassetinvestmentsrelatetocharity's100%ownershipofSpringLodgeCentreLimitedwhichisa trading
company. The results of Spring Lodge Centre Limited are as follows:
continued...
Page 11
WITHAM COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 13)
Deferred income
Trade creditors
Social security and other taxes
Accrued expenses
12.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 13)
13.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal |
2022
£
5,556
3,298
3,248
4,193
5,920
22,215
2022
£
43,519
2022
£
5,556
5,556
16,667
21,296 |
2021
£
1,667
2,767
10,251
2,989
6,469 |
|
|
24,143 |
|
|
2021
£
48,333 |
|
|
2021
£
1,667 |
|
|
10,000 |
|
|
38,333 |
|
|
- |
ThebankloanissupportedandsecuredbytheUKGovernment'sBounceBackLoanScheme(BBLS). Interest
willbechargedatafixedrateof2.5%andthebalanceisrepayableover120monthswiththefirst payment
due 12 months after inception.
14. MOVEMENT IN FUNDS
MOVEMENT IN FUNDS |
|
|
|
|
|
Net |
|
|
|
movement |
At |
|
At 1.4.21 |
in funds |
31.3.22 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
19,828 |
(10,256) |
9,572 |
TOTAL FUNDS |
19,828 |
(10,256) |
9,572 |
Net movement in funds, included in the above are as follows: |
|
|
|
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
194,168 |
(204,424) |
(10,256) |
TOTAL FUNDS |
194,168 |
(204,424) |
(10,256) |
continued...
Page 12
WITHAM COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022
14. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are as f
Unrestricted funds
General fund
TOTAL FUNDS |
At 1.4.20
£
6,885
6,885
ollows:
Incoming
resources
£
210,453
210,453 |
Net
movement
in funds
£
12,943
12,943
Resources
expended
£
(197,510)
(197,510) |
At
31.3.21
£
19,828
19,828
Movement
in funds
£
12,943 |
|
|
|
12,943 |
15. RELATED PARTY DISCLOSURES
Included in debtors is an amount due from the subsidiary undertaking of £10,922 (2021: £14,355).
16. LEASED PREMISES
ThepremisesatSpringLodgeisheldona50yearsleasewithBraintreeDistrictCouncilonayearlyrentof one
peppercorn (if demanded).
Page 13
WITHAM COMMUNITY ASSOCIATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other charitable activities
Hall hire
Vending machines
Children's activities
Sundry income
Other income
Government grants
Total incoming resources
EXPENDITURE
Raising donations and legacies
Staff costs
Social security
Pensions
Events
Purchases and sunday market
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
Cleaning materials
Repairs and renewals
Service contracts
Travelling
Licences
Bank charges
Legal and professional
Clothing cost
Depn of equipment and fixtures
Depn of bar equipment and fittings
Financial costs- VAT
Other interest |
2022
£
345
75,089
40
69,461
13,811
158,401
35,422
194,168
44,981
1,000
2,092
50
4,796
-
1,291
54,210
510
89,172
1,915
52
2,297
7,885
14,825
5,120
4,150
-
18
-
45
1,678
1,059
3,743
2,723
249
699
906
544
100
1,902
19
6,378
225
145,704 |
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
677
6,736
5,708
363
158
645
394
14
2,349
28
5,402
9
147,807 |
|
|
|
This page does not form part of the statutory financial statements
Page 14
WITHAM COMMUNITY ASSOCIATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
Support costs
Governance costs
Auditors' remuneration
Auditors' remuneration for non audit work
Total resources expended
Net (expenditure)/income |
2022
£
2,500
1,500
4,000
204,424
(10,256) |
2021
£
2,500
1,500 |
|
|
4,000 |
|
|
197,510 |
|
|
12,943 |
This page does not form part of the statutory financial statements
Page 15