THE WARREN CENTRE
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their report and accounts for the year ended 31 March 2024
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's deed, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
Objectives and activities
The Warren Centres objects are to provide facilities in the interests of social welfare, recreation, and leisure time, with the object of improving the conditions of life for the inhabitants of Micheldever Station. Also, for the advancement of education and public benefit of the community, inhabitants, and neighbourhood, without distinction of age, sex, political or religious views or other opinions, by providing opportunities of social, health and educational benefit. There has been no change in policies during the year. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities they should undertake.
Fundraising
The Warren Centre has run fundraising events during the period which include a car boot sale and a Christmas Fayre. Support was also provided to the Ellis Run. Additional funding has been obtained from the licensee arrangements. Further income will be generated from donations raised where on-site parking has been supplied. The Warren Centre continues to rent out its hall and playing field/football pitch to raise income. The charity has met its objectives in so much as it has helped facilitate local social and educational events.
Financial Review
The main hall was refurbished in 2018 which was funded by a grant and reserves. The income generated by the hall and playing field users has been more than enough to meet expenditure.
Structure, Governance and Management
The Trust was established by a charitable trust deed on 1st July 1971. The Trustees who served during the year were:
Belinda Harvey
Allan Croombs
Cynthia Gostling
Paul Brown
Charity Registration No. 301887
THE WARREN CENTRE
ANNUAL REPORT & UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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THE WARREN CENTRE CENTRE LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Belinda Harvey Allan Croombs Cynthia Gostling Paul Brown
Charity number 301887
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THE WARREN CENTRE
CONTENTS
| Page | ||
|---|---|---|
| Statement of fnancial activities | 4 | |
| Balance sheet | 5 | |
| Notes to the accounts | 6-11 |
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THE WARREN CENTRE
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Not es Income From: Donations & Legacies 2 Charitable Activities 3 Other Trading Activities 4 Finance Income Total Income Expenditure On: Charitable Activities 5 Net (expenditure)/income for the year/Net Movement in Funds Fund balances at 1 April 2023 Start of year Fund balances at 31 March 2024 End of year |
Unrestric ted Funds Restric ted Funds Total 2024 This year Total 2023 last year £ £ £ £ 2,405 0 2,405 1522 13,158 0 13,158 8531 18,730 0 18,730 19,797 140 0 140 16 |
|---|---|
| 34,433 0 34,433 29,866 |
|
| 20,346 0 20.347 21,006 |
|
| 14,087 0 14,087 8,860 29,736 421 30,157 |
|
| 43,823 421 44,244 30,157 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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THE WARREN CENTRE
BALANCE SHEET
AS AT 31 MARCH 2024
| Non-Current Assets Tangible Assets 7 Current Assets Cash at bank and in hand Debtors Creditors: amounts falling due within one year 8 Net Current Assets Total assets less current liabilities Creditors: amounts falling due after more than one year 9 Net Assets Income Funds Restricted Funds Unrestricted funds |
£ 39,677 (3,329) |
2024 £ 288,722 36,348 |
£ 27,049 (3,159) |
2023 £ 295,764 23,890 |
|---|---|---|---|---|
| 325,070 280,826 |
319.654 289,497 |
|||
| 44,244 | 30,157 | |||
| 421 43,823 |
421 29,736 |
|||
| 44,244 | 30,157 |
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THE WARREN CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
Charity Information
The Warren Centre is an unincorporated charity registered in England.
1.1 Accounting Convention
The accounts have been prepared in accordance with the Charities Act 2011 and Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) (as amended for accounting periods commencing from 1 January 2016). The Warren Centre is a Public Benefit Entity as defined by FRS102.
The Warren Centre has taken advantage of the provisions in the SORP for charities applying FRS102 Update Bulletin 1 not to prepare a Statement of Cashflows
The accounts are prepared in Sterling, which is the functional currency of the Warren Centre. Monetary amounts in these financial statements are rounded to the nearest £,
The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going Concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the Warren Centre has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparation of the accounts.
1.3 Charitable Funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
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1.4 Incoming Resources
Income is recognised when the Warren Centre is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
THE WARREN CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
- Accounting policies (continued)
Cash donations are recognised on receipt. Other donations are recognised once the Warren Centre has been notified of the donation unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Warren Centre has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
The turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
1.5 Resources Expended
Expenditure is recognised on an accrual basis as a liability is incurred. It includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the cost of fundraising.
Charitable activities comprise of those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity.
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly.
1.6
Tangible fixed assets
Tangible fixed assets are initially measured at costs and subsequently measured at cost or valuation, net of depreciation and any impairment loss.
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Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:
Land and Buildings 2% straight line Plant and Machinery 25% reducing balance
THE WARREN CENTRE NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1. Accounting policies (continued)
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.0 Donations and Legacies
| Donations and Gifts 3.0 Charitable Activities Charitable Activities Grants Received Analysis by fund Unrestricted funds Restricted funds |
2024 2023 £ £ 2,405 1,523 Hall Hire Grant Incom e Busine ss Other Total 2024 Total 2023 £ £ £ £ £ £ 8,216 0 156 4,880 13,25 2 8,531 0 0 0 0 0 0 |
2024 2023 £ £ 2,405 1,523 |
|---|---|---|
| 8,216 0 156 4,840 13,25 2 8,531 |
||
| 8,216 0 156 4,880 13,25 2 8,531 0 0 0 0 0 0 |
||
| 8,216 0 156 4,880 13,25 2 8.531 |
4.0 Other trading activities
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| Fund raising events Licence Income |
2024 2023 £ £ 0 0 18,730 19,797 |
|---|---|
| 18,730 19,797 |
THE WARREN CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
5.0 Charitable activities
| General Activities (see note 6) Building Projects |
2024 2023 £ £ 20,346 8,531 0 0 |
|---|---|
| 20,346 8,531 |
6.0 Support Costs
| Light and heat Cleaning Advertising Refurbishment/ Maintenance Insurance Telephone/ broadband Business Centre Software Other |
2024 2023 Basis of allocation £ £ 6,572 4,828 General Activities 3.750 3,373 General Activities 15 6 General Activities 6,305 7,651 General Activities 1,427 1,269 General Activities 571 503 General Activities 0 0 General Activities ?1.045 685 General Activities 661 1,072 General Activities 20,346 19,377 |
|---|---|
7.0 Non-Current Assets
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| Cost At 1 April 2023 At 31 March 2024 Depreciation and Impairment At 1 April 2023 Depreciation charged in the year At 31 March 2024 Carrying amount At 1 April 2023 At 31 March 2024 |
Land & Buildings Plant & Machinery Total £ £ £ 352100 8404 360504 |
|---|---|
| 352100 8404 360504 |
|
| 56,336 8,404 64,740 7,042 0 7,042 |
|
| 63,378 8,404 71,782 |
|
| 295,764 0 295,764 |
|
| 288,722 0 288,722 |
THE WARREN CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 8.0 | Creditors: amounts falling due within one year | Creditors: amounts falling due within one year | ||
|---|---|---|---|---|
| 2024 | 2023 | |||
| Notes | £ | £ | ||
| Loans | 10 | 1,629 | 1,629 | |
| Accruals and deferred income | 1,700 | 1,530 | ||
| 3,328 | 3,159 | |||
| 9.0 | Creditors: amounts failing due after more than | one year. | ||
| 2024 | 2023 | |||
| Notes | £ | £ | ||
| Loans | 10 | 17,104 | 18,733 | |
| Other Creditors | 11 | 263,722 | 270,764 | |
| 280.826 | 289,497 | |||
| 10.0 | Loans and Overdrafts | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Loans | 18,733 | 20,362 | ||
| Payable within one year | 1,629 | 1,629 | ||
| Payable after one year | 17,104 | 18,733 |
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The long-term loans are secured by fixed charges over the assets of the charity.
11.0 Other Long-term creditors
Other long-term creditors is the total restricted grants received for the Warren Centre of £327,100 less depreciation of £7042 per annum, the balance at the end of the year was £263,722.
12.0 Employees
There were no employees during the year.
THE WARREN CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
13.0 Trustees
None of the Trustees (or any persons connected with them) received any remuneration during the year, no Trustees were reimbursed for travel expenses.
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Fwd: TWC Accounts
From: Chris Bridgland (crisbe604@gmail.com)
To: norma.collins@sky.com
Date: Wednesday 11 December 2024 at 18:55 GMT
Hi Norma
I have independently assessed the TWC accounts you provided and we have discussed my queries ( a summary of these is below) and I am satisfied with the answers provided.
-
we discussed the significant increase in assets. This is due to the success in bringing in more business.
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in 3.0 Charitable Activities income column, the number ‘4’ is missing in one column and states 840 instead of 4,840 as it does in the total. This will be rectified.
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in Support costs 6.0 no amount has been entered for broadband despite there being £503 in previous year and a monthly direct debit being shown in the itemised accounts. In discussion it turns out that the amount has been incorporated into the software line. This will be separated out but will have no impact on the balance sheet.
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in 7.0 some alteration needs to be made to items in columns so that the two can be identified separately.
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the accounts state that none of the trustees have been reimbursed for travel expenses. We discussed the amount of £7.88 (item no 224) re-imbursed for petrol. This was identified as being for the mower and not for travel expenses or the trustees.
Once the above changes have been made I am happy for these accounts to be put forward.
Chris Bridgland Mob: 07720251373
On 11 Dec 2024, at 10:28, Me crisbe604@gmail.com wrote:
Hi
I’ve taken a look ät the accounts & have a couple of queries. Are you able to pop up?
I have to go out about 2.30 so anytime before that.
Chris
Sent from my iPhone
On 10 Dec 2024, at 14:44, norma.collins@sky.com wrote:
Hi Chris
Thanks for taking a look at this for me. I'll see what info I can find around ownership/lease of the buildings.
Kind regards