```
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`**
```
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 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).
```
```
Page 13
```
```
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
```
```
Page 14
```
```
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
```
```
Page 15
```