2024-03-31-accounts - Witham Community Association

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REGISTERED CHARITY NUMBER: 301438

`TRUSTEES' REPORT AND`

AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

`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 2024`

		`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 2024

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31March2024. 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.Theaccountsshow a
deficit for the year of £23,529 (2023: £14,366).

Thesefinancialstatementsarepreparedonthegoingconcernbasisdespitethedeficitintotalfundsof £28,323
(2023:£4,794).Thisislargelyduetosignificantexpenditureintheyearonrefurbishmentandredecoration and
increased staff costs.

Thesearenotexpectedtobeanannualoccurrence.Thetrusteesbelievethatcostreductionsimplemented and
continuousfundingreceivedfromthelocalcouncilwillresultinthedeficitinfundsbeingremediedinthe following
years.

TheresultsoftheCharity'stradingsubsidiaryarerecordedinnote7ofthesefinancialstatementswhichindicate that
subsidiaryundertakinghasabalancesheetdeficit.Thetrusteesarehopefulthatit'sdeficitpositionwillberectified in
the coming years.

`Reserves policy`

Themanagementcommittee'saimsaretobuildreservesuptomaintainsufficientliquidbalancetocover6 months
unrestricted expenditure.

However,duetosignificantexpenditureonrefurbishmentandredecorationandincreasedstaffcosts,ithasnot been
possible 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 2024

`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`

`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 2024

Approved by order of the board of trustees on 20 January 2025 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
31March2024whichcomprisetheStatementofFinancialActivities,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 2024 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'useofthegoingconcernbasis of
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,wearerequiredtodeterminewhetherthisgivesriseto a
materialmisstatementinthefinancialstatementsthemselves.If,basedontheworkwehaveperformed,we conclude
thatthereisamaterialmisstatementofthisotherinformation,wearerequiredtoreportthatfact.Wehave 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,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 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:

-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-compliancewithlawsandregulationstoenquiryof the
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
andReports)Regulations2008.Ourauditworkhasbeenundertakensothatwemightstatetothecharity's trustees
thosematterswearerequiredtostatetotheminanauditors'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

20 January 2025

Page 6

WITHAM COMMUNITY ASSOCIATION

`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024`

		`2024`	`2023`
		`Unrestricted`	`Total`
		`funds`	`funds`
	`Notes`	`£`	`£`
`INCOME AND ENDOWMENTS FROM`
`Donations and legacies`		`115`	`52`
`Other charitable activities`	`2`	`222,652`	`205,468`
`Total`		`222,767`	`205,520`
`EXPENDITURE ON`
`Children's activities`		`79,524`	`59,434`
`Charitable activities`
`Charitable Activities`		`155,347`	`149,954`
`Governance`		`11,425`	`10,498`
`Total`		`246,296`	`219,886`
`NET INCOME/(EXPENDITURE)`		`(23,529)`	`(14,366)`
`RECONCILIATION OF FUNDS`
`Total funds brought forward`		`(4,794)`	`9,572`
`TOTAL FUNDS CARRIED FORWARD`		`(28,323)`	`(4,794)`

The notes form part of these financial statements

Page 7

WITHAM COMMUNITY ASSOCIATION

`BALANCE SHEET 31 MARCH 2024`

`U` `Notes` `FIXED ASSETS` `Tangible assets` `6` `Investments` `7` `CURRENT ASSETS` `Stocks` `8` `Debtors` `9` `Cash at bank and in hand` `CREDITORS` `Amounts falling due within one year` `10` `NET CURRENT ASSETS` `TOTAL ASSETS LESS CURRENT LIABILITIES` `CREDITORS` `Amounts falling due after more than one year` `11` `NET ASSETS` `FUNDS` `13` `Unrestricted funds` `TOTAL FUNDS`	`2024` `nrestricted` `funds` `£` `6,113` `1` `6,114` `938` `14,018` `14,156` `29,112` `(31,141)` `(2,029)` `4,085` `(32,408)` `(28,323)` `(28,323)` `(28,323)`	`2023` `Total` `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)`

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon20January2025 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 2024

`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.

Thesefinancialstatementsarepreparedonthegoingconcernbasisdespitethedeficitintotalfunds of
£28,323(2023:£4,794).Thisislargelyduetosignificantexpenditureintheyearonrefurbishment and
redecoration and increased staff costs.

Thesearenotexpectedtobeanannualoccurrence.Thetrusteesbelievethatcostreductions implemented
andcontinuousfundingreceivedfromthelocalcouncilwillresultinthedeficitinfundsbeingremediedin the
following years.

`Financial reporting standard 102 - reduced disclosure exemptions`

Thecharityhastakenadvantageofthefollowingdisclosureexemptioninpreparingthesefinancial statements,
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`

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothe funds,
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.

continued...

Page 9

WITHAM COMMUNITY ASSOCIATION

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`

`2. OTHER CHARITABLE ACTIVITIES`

`Hall hire` `Vending machines` `Fruit machines` `Children's activities` `Social events` `Sundry income` `Affiliation and membership fee` `Rents received from Spring Lodge Centre` `Limited` `Holiday playsheme` `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`	`2024` `Unrestricted` `funds` `£` `71,597` `31` `90` `118,502` `-` `1,456` `-` `9,000` `21,976` `222,652` `2024` `£` `3,000` `2,000` `5,000`	`2023` `Total` `funds` `£` `87,302` `62` `190` `95,277` `294` `4,169` `260` `-` `17,914`	`2023` `Total` `funds` `£` `87,302` `62` `190` `95,277` `294` `4,169` `260` `-` `17,914`
		`205,468`
		`2023` `£` `2,500` `1,700` `4,200`
			`1,700`
			`4,200`

`3. AUDITORS' REMUNERATION`

`4. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2024norforthe year
ended 31 March 2023.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31March2024norfortheyear ended
31 March 2023.

`5. STAFF COSTS`

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

	`2024`	`2023`
`Total staff`	`15`	`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 2024`

`6. TANGIBLE FIXED ASSETS`

`COST` `At 1 April 2023` `Additions` `Disposals` `At 31 March 2024` `DEPRECIATION` `At 1 April 2023` `Charge for year` `Eliminated on disposal` `At 31 March 2024` `NET BOOK VALUE` `At 31 March 2024` `At 31 March 2023` `FIXED ASSET INVESTMENTS` `MARKET VALUE` `At 1 April 2023 and 31 March 2024` `NET BOOK VALUE` `At 31 March 2024` `At 31 March 2023`	`Equipment` `and` `fixtures` `and` `fittings` `£` `127,658` `291` `(12,779)` `115,170` `123,060` `1,225` `(12,509)` `111,776` `3,394` `4,598`	`Bar` `equipment` `and` `fittings` `£` `31,058` `1,948` `(192)` `32,814` `30,000` `286` `(191)` `30,095` `2,719` `1,058` `I`	`Totals` `£` `158,716` `2,239` `(12,971)` `147,984` `153,060` `1,511` `(12,700)` `141,871` `6,113` `5,656` `nvestments` `£` `1` `1` `1`


			`nv`

`7. FIXED ASSET INVESTMENTS`

There were no investment assets outside the UK.

Fixedassetinvestmentsrelatetocharity's100%ownershipofSpringLodgeCentreLimitedwhichisa trading
company. The results of Spring Lodge Centre Limited are as follows:

`8.`

	`2024` `2023`	`2024` `2023`
	`£` `£`
`Turnover`	`49,625` `44,132`
`Profit/(Loss) for the year`	`(2,086)` `7,853`
`Aggregate capital and reserves`	`(1,933)` `153`

`STOCKS` `Stocks`	`2024` `£` `938`	`2023` `£` `938`

continued...

Page 11

WITHAM COMMUNITY ASSOCIATION

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`

`9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`Trade debtors` `Amount owed by subsidiary` `undertaking` `Other debtors` `VAT` `Prepayments` `10.` `CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Bank loans and overdrafts (see note 12)` `Deferred income` `Trade creditors` `Social security and other taxes` `Accrued expenses` `11.` `CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR` `Bank loans (see note 12)` `12.` `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 than 5 years by instalments`	`2024` `£` `6,515` `662` `125` `783` `5,933` `14,018` `2024` `£` `5,556` `4,748` `12,020` `3,625` `5,192` `31,141` `2024` `£` `32,408` `2024` `£` `5,556` `5,556` `16,667` `10,185`	`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`

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

`13. MOVEMENT IN FUNDS`

		`Net`
		`movement`	`At`
	`At 1.4.23`	`in funds`	`31.3.24`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`(4,794)`	`(23,529)`	`(28,323)`
`TOTAL FUNDS`	`(4,794)`	`(23,529)`	`(28,323)`

continued...

Page 12

WITHAM COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

`13. MOVEMENT IN FUNDS - continued`

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` `Unrestricted funds` `General fund` `TOTAL FUNDS`		`Incoming` `resources` `£` `222,767` `222,767` `At 1.4.22` `£` `9,572` `9,572` `ollows:` `Incoming` `resources` `£` `205,520` `205,520`	`Resources` `expended` `£` `(246,296)` `(246,296)` `Net` `movement` `in funds` `£` `(14,366)` `(14,366)` `Resources` `expended` `£` `(219,886)` `(219,886)`		`Movement` `in funds` `£` `(23,529)` `(23,529)` `At` `31.3.23` `£` `(4,794)` `(4,794)` `Movement` `in funds` `£` `(14,366)` `(14,366)`

	`f`

`14. RELATED PARTY DISCLOSURES`

Included in debtors is an amount due from the subsidiary undertaking of £662 (2023: £4,526).

`15. LEASED PREMISES`

ThepremisesatSpringLodgeisheldona50yearleasefromBraintreeDistrictCouncil,onayearlyrent of
one peppercorn (if demanded).

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WITHAM COMMUNITY ASSOCIATION

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024`

`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` `Rents received from Spring Lodge Centre` `Limited` `Holiday playsheme` `Total incoming resources` `EXPENDITURE` `Children's activities` `Staff costs` `Social security` `Pensions` `Purchases and sunday market` `Consumables and provisions` `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` `Depn of equipment and fixtures` `Depn of bar equipment and fittings` `Loss on sale of tangible fixed assets` `Financial costs- VAT` `Other interest`	`2024` `£` `115` `71,597` `31` `90` `118,502` `-` `1,456` `-` `9,000` `21,976` `222,652` `222,767` `74,295` `1,019` `2,277` `344` `1,589` `79,524` `72,413` `989` `1,497` `2,314` `9,282` `30,851` `5,077` `4,625` `409` `118` `2,223` `1,579` `16,678` `4,071` `14` `418` `(1,609)` `401` `1,225` `286` `270` `7,610` `1,031` `161,772`	`2023` `£` `52` `87,302` `62` `190` `95,277` `294` `4,169` `260` `-` `17,914`
		`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`

`Support costs`

This page does not form part of the statutory financial statements

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WITHAM COMMUNITY ASSOCIATION

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024`

	`2024`	`2023`
	`£`	`£`
`Support costs`
`Governance costs`
`Auditors' remuneration`	`3,000`	`2,500`
`Auditors' remuneration for non audit work`	`2,000`	`1,700`
	`5,000`	`4,200`
`Total resources expended`	`246,296`	`219,886`
`Net expenditure`	`(23,529)`	`(14,366)`

This page does not form part of the statutory financial statements

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