2023-03-31-accounts

REGISTERED CHARITY NUMBER: 301438

TRUSTEES' REPORT AND

AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

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 2023

		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 2023

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31March2023. 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 £14,366 (2022: £10,256 ).

At the balance sheet date the charity had a deficit in funds of £4,794 (2022: £9,572 surplus).

Thesefinancialstatementsarepreparedonthegoingconcernbasisdespitethedeficitintotalfundsof£4,794 (2022:
£9,572surplus).Thisislargelyduetotheincreaseinenergypriceswhichthecharitycouldnotpassonto its
stakeholders.Thetrusteesbelievethatcostreductionsimplementedandcontinuousfundingreceivedfromthe local
council will result in the deficit in funds being remedied in the following year.

TheresultsoftheCharity'stradingsubsidiaryarerecordedinnote8ofthesefinancialstatementswhichindicate that
subsidiaryundertakinghasabalancesheetdeficit.Thetrusteesarehopefulthatit'sdeficitpositionwillberectified in
the coming years, as the subsidiary has returned to profitability.

Reserves policy

Themanagementcommittee'saimsaretobuildreservesuptomaintainsufficientliquidbalancetocover6 months
unrestricted expenditure.

However,duetotheincreaseinenergycostsandtheresultingfinancialdifficulties,ithasnotbeenpossible to
maintain 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 2023

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.

TheTrusteesaresatisfiedthatrisksarebeingconsistentlyandeffectivelymanagedandmitigatedandconsider that
theresultantriskprofileisacceptableandappropriateinrelationtotheCharity'sobjectivesandresponsibilities. The
natureoftheserviceswhichtheCharityprovidestoserviceusers,andtheenvironmentwithinwhichthe charity
operates,meanthatwewillinevitablyfacerisksduetofactorsbeyondourcontrol.Wearewillingtotolerate 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

The charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding.

TRUSTEES' RESPONSIBILITY STATEMENT

ThetrusteesareresponsibleforpreparingtheTrustees'Reportandthefinancialstatementsinaccordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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.

Page 2

WITHAM COMMUNITY ASSOCIATION

TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2023

Approved by order of the board of trustees on 22 January 2024 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
31March2023whichcomprisetheStatementofFinancialActivities,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 2023 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

• identified laws and regulations were communicated within the audit team regularly and the team remained alert to

• instances of non-compliance throughout the audit.

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

22 January 2024

Page 6

WITHAM COMMUNITY ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other charitable activities 2 Other income 3 Total EXPENDITURE ON Raising funds Charitable activities Charitable Activities Governance Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	2023 Unrestricted funds £ 52 205,468 - 205,520 59,434 149,954 10,498 219,886 (14,366) 9,572 (4,794)	2022 Total funds £ 345 158,401 35,422 194,168 54,720 141,179 8,525 204,424 (10,256) 19,828 9,572

The notes form part of these financial statements

Page 7

WITHAM COMMUNITY ASSOCIATION

BALANCE SHEET 31 MARCH 2023

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	2023 nrestricted funds £ 5,656 1 5,657 938 22,636 25,539 49,113 (21,600) 27,513 33,170 (37,964) (4,794) (4,794) (4,794)	2022 Total 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

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon22January2024 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 2023

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.

Thesefinancialstatementsarepreparedonthegoingconcernbasisdespitethedeficitintotalfundsof £4,794
(2022:£9,572surplus).Thisislargelyduetotheincreaseinenergypriceswhichthecharitycouldnotpass on
toitsstakeholders.Thetrusteesbelievethatcostreductionsimplementedandcontinuousfunding received
from the local council will result in the deficit in funds being remedied in the following year.

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 2023

2. OTHER CHARITABLE ACTIVITIES

OTHER CHARITABLE ACTIVITIES
	2023	2022
	Unrestricted	Total
	funds	funds
	£	£
Hall hire	87,302	75,089
Vending machines	62	40
Fruit machines	190	-
Children's activities	95,277	69,461
Social events	294	-
Sundry income	22,083	13,811
Affiliation and membership fee	260	-
	205,468	158,401

3. OTHER INCOME

OTHER INCOME
	2023	2022
	Unrestricted	Total
	funds	funds
	£	£
Government grants	-	35,422

Other income related 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	2023 2022 £ £ 2,500 2,500 1,700 1,500 4,200 4,000	2023 2022 £ £ 2,500 2,500 1,700 1,500 4,200 4,000
		1,500
		4,000

5. TRUSTEES' REMUNERATION AND BENEFITS

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2023norforthe year
ended 31 March 2022.

Trustees' expenses

Therewerenotrustees'expensespaidfortheyearended31March2023norfortheyear ended
31 March 2022.

6. STAFF COSTS

The average monthly number of employees during the year was as follows:

	2023	2022
Total staff	14	14

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 2023

7. TANGIBLE FIXED ASSETS

8.

COST At 1 April 2022 Additions Disposals At 31 March 2023 DEPRECIATION At 1 April 2022 Charge for year Eliminated on disposal At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 FIXED ASSET INVESTMENTS MARKET VALUE At 1 April 2022 and 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022	Equipment and fixtures and fittings £ 127,239 419 - 127,658 121,525 1,535 - 123,060 4,598 5,714	Bar equipment and fittings £ 30,251 1,106 (299) 31,058 30,228 71 (299) 30,000 1,058 23 I	Totals £ 157,490 1,525 (299) 158,716 151,753 1,606 (299) 153,060 5,656 5,737 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:

9.

	2023 2022	2023 2022
	£ £
Turnover	44,132 23,374
Profit/(Loss) for the year	7,853 8,027
Aggregate capital and reserves	(153) (7,700)
STOCKS Stocks	2023 £ 938	2022 £ 938

continued...

Page 11

WITHAM COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors Amount owed by subsidiary undertaking Other debtors VAT Prepayments 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	2023 £ 6,184 4,526 - 445 11,481 22,636 2023 £ 5,556 4,487 3,327 2,063 6,167 21,600 2023 £ 37,964 2023 £ 5,556 5,556 16,667 15,741	2022 £ 3,110 10,922 1,703 461 13,130
		29,326
		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

ThebankloanissupportedandsecuredbytheUKGovernment'sBounceBackLoanScheme(BBLS). Interest
is charged at a fixed rate of 2.5% and the balance is repayable over 120 months from inception.

14. MOVEMENT IN FUNDS

		Net
		movement	At
	At 1.4.22	in funds	31.3.23
	£	£	£
Unrestricted funds
General fund	9,572	(14,366)	(4,794)
TOTAL FUNDS	9,572	(14,366)	(4,794)

continued...

Page 12

WITHAM COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	205,520	(219,886)	(14,366)
TOTAL FUNDS	205,520	(219,886)	(14,366)
Comparatives for 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

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund TOTAL FUNDS	Incoming resources £ 194,168 194,168	Resources expended £ (204,424) (204,424)	Movement in funds £ (10,256) (10,256)

15. RELATED PARTY DISCLOSURES

Included in debtors is an amount due from the subsidiary undertaking of £4,526 (2022: £10,922).

16. LEASED PREMISES

ThepremisesatSpringLodgeisheldona50yearleasefromBraintreeDistrictCouncil,onayearlyrentof one
peppercorn (if demanded).

Page 13

WITHAM COMMUNITY ASSOCIATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

INCOME AND ENDOWMENTS Donations and legacies Donations Other charitable activities Hall hire Vending machines Fruit machines Children's activities Social events Sundry income Affiliation and membership fee Other income Government grants Total incoming resources EXPENDITURE Raising donations and legacies Staff costs Social security Pensions Events Purchases and sunday market 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 Sundries 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	2023 £ 52 87,302 62 190 95,277 294 22,083 260 205,468 - 205,520 54,676 713 2,077 - 241 1,727 59,434 - 79,674 1,038 1,318 2,788 8,169 31,050 3,941 4,606 2,122 147 424 1,243 4,198 2,465 8 917 693 653 - 1,535 71 8,032 1,160 156,252	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

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 2023

Support costs Governance costs Auditors' remuneration Auditors' remuneration for non audit work Total resources expended Net expenditure	2023 £ 2,500 1,700 4,200 219,886 (14,366)	2022 £ 2,500 1,500 4,000 204,424 (10,256)

This page does not form part of the statutory financial statements

Page 15