REGISTERED CHARITY NUMBER: 301929
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2023
for
Ringwood and District Community Association
Town & Forest Chartered Accountants First Floor, New Barnes Mill Cottonmill Lane St Albans AL1 2HA
Ringwood and District Community Association
Contents of the Financial Statements for the Year Ended 31 August 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |
Ringwood and District Community Association
Report of the Trustees for the Year Ended 31 August 2023
The trustees present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Constitution provides that the primary object of the Association is to promote the benefit of the inhabitants of Ringwood and the neighbourhood, particularly by bringing together the inhabitants, and the local authorities, and voluntary and other organisations, to provide facilities for education, recreation and leisure-time occupation.
To this end the Association has established, and maintains and manages a Community Centre. The Association is non-party in politics and non-sectarian in religion.
The Association was formed in February 1958 and was given the opportunity to purchase the property known as Greyfriars at a significant undervalue in 1959 on the condition that it should be used for the benefit of the residents of Ringwood as a Community Centre. The Association was registered with the Charity Commission on 6 September 1962. A revised constitution was adopted on 22 March 2000.
Membership of the Association is open to individuals, to other voluntary bodies supporting the objects of the Association (Affiliated Groups), and to the statutory local authorities. With the approval of Council, individuals with common interests may form internal groups (Clubs). All members have one vote in the election of the elected members of Council at the Annual General Meeting. Council comprises the Honorary Officers, up to 12 elected members and one representative appointed by each club, affiliated group and statutory authority. The Council thus elected and appointed may co-opt further members, but co-opted members may not comprise more than a quarter of Council.
Under the Charities Act, the members of Council are the Charity ‘Trustees’. Council is responsible for the Association’s policies, and is the legal body able to enter into contracts on the Association’s behalf. It meets at least three times a year. Management of the Association’s day to day affairs is delegated to the Association’s Executive Committee and that Committee’s sub-committees whose recommendations are ratified by the executive committee, and day-to-day management of the community centre and its affairs to two salaried managers, who cannot be members of Council or of its committees, but may attend meetings of both.
Public benefit
The Associations' reason for existence, as enshrined in its original objects, is for the benefit of the inhabitants of Ringwood and the neighbourhood. In all the Association's activities, therefore, the Trustees have been able to pay due regard to the Charity Commission guidance on public benefit.
FINANCIAL REVIEW
Financial review, achievement and performance
The Trustees have broadly adopted the Charity Commission’s Statement of Recommended Practice on the reporting of charity finances. They hope that their formal Report and Accounts will prove transparent and helpful, enabling the many members and supporters of the Association to understand the service provided to the people of Ringwood and how it is financed.
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Ringwood and District Community Association
Report of the Trustees for the Year Ended 31 August 2023
FINANCIAL REVIEW
Reserves policy
The freehold property owned by the Trust is included in the accounts as an investment asset. The Association aims to hold adequate reserves to cover significant maintenance requirements, which could, in view of the age and listed status of the property, be significant. The Trustees keep the upkeep of the building under constant review and take professional advice where appropriate. It is also desirable to have adequate amounts put aside to cover costs in any period of major interruption to the Association's activities. Reserves represents any accumulated surpluses or deficits on the day-to-day operations of the Association. The Trustees seek at least to match income from hire fees and fund raising, including member's subscriptions, to expected costs, to cover short term requirements.
The amounts held within the restricted fund consist of amounts raised and donated specifically for the provision of disabled-access minibuses for the general use of the community.
Unrestricted Funds
Unrestricted funds are those funds available to meet an expenditure within the Association's charitable objects.
The Association's income in the year ended 31 August 2023 was £314,895 (£213,282 previous year). Income from charitable activities has shown a 28% increase from the previous year. This increase is reflective of the second full year of trading after the effects of COVID and the associated Lockdown periods. Room Hire activity has returned to pre COVID levels and the income from this source has increased to £148,536 (£109,651 previous year). We remain extremely grateful to the Staff and Volunteers who continue to generate income from Events, Study Groups and the Book Sales which together raised £31,828 (£26,649 previous year) being a 19% increase and contributing greatly towards the operating costs of the Centre.
Total Expenditure increased to £262,055 (£232,135 previous year) which reflects the increased usage of the Centre through the year and increasing costs due to inflationary features in the Economy. Staffing costs increased, mainly Caretaking, due to the higher level of room hire and the associated work required to meet the needs of the users of the Centre. Repairs and Renewals were up 20% at £35,776 (£29,752 previous year) and reflected ongoing work that is essential to maintain the fabric and structure of the buildings. The financial year saw the impact of the increasing Energy costs which were £18,482 higher than previous year. These costs alongside the wider inflationary effect on all other costs presented a challenging year for the Association. The Net Surplus for the year of £52,840 has resulted in an increase to the Unrestricted Funds. The Surplus has resulted in the Reserves of the Association returning to a more sustainable level to provide comfort, should there be any unplanned Expenditure required on the Buildings. The Economic situation remaining largely unchanged into the current Financial Year, the Trustees continue to budget prudently to minimise the impact. The Association continues to maintain a satisfactory Cash position but is mindful that the Trading position has returned to a Surplus position in current year.
Restricted Funds
Restricted funds have been raised for particular stated purposes and can only be used for those purposes.
In the financial year there was significant income from Donations and Legacies totalling £48,579. From this amount, expenditure on restricted activities totalled £19,167. Please refer to Note 5 re a prior year adjustment affecting the previous end of year balance.
The Fixed Assets of the Association consist mainly of the Trust Freehold Property. This was last professionally valued at 31 August 2010. The Trustees consider that there will have been no significant variation in the past twelve months, given that the property has a very specialised function, and no amendment is proposed.
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Ringwood and District Community Association
Report of the Trustees for the Year Ended 31 August 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its constitution.
Risk management
The Trustees have considered the risks faced by the Association which include not only operational risks such as fire and accident, but risks arising from ever-changing legislation and an increasingly litigious society. A detailed assessment of the fire risk covering the whole premises is reviewed annually. There is a comprehensive Health and Safety policy, which is reviewed on a regular basis. It is expected that all users of the centre keep themselves familiarised with this.
The Trustees have also considered the impact of laws on child protection, equal of opportunity and disability access. The ongoing purpose of the building is constantly under review. They believe that they have identified the major risks which the Association faces. Business and operational risks are as far as practicable covered by commercial insurances. Strategic risks are through, potentially to arise from legislative changes and financial challenges at either local or national level, and these are monitored to the extent that the Trustees are able.
The Community Centre continues to be managed by Claire Alexander with help from assistant Manager Anne Melrose. They continue to run the office and the caretakers with great dedication and enthusiasm. As always, the centre was available for local groups and individuals and provided a meeting point at the heart of the Ringwood community.
The Special Events Committee has once again produced a major and essential contribution to the Association's funds. The minibuses continue to be well used, bringing elderly and disabled local inhabitants to Ringwood for their weekly shopping, social functions and outings, and generally enabling them to maintain wider horizons.
Greyfriars could not operate without the practical help and goodwill of the many volunteers who support the Association in so many ways, and gratitude is due to them from the Trustees and from the wider community that Greyfriars serves.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
301929
Principal address
Greyfriars Community Centre 44 Christchurch Road Ringwood Hampshire BH24 1DW
Trustees
M Baldwin J Barratt R B Brockhurst Esq A Duncan G M E Habbin M J S Osborne M A Pedersen B L Sindall (resigned 2.3.23) J Titt P J Titt (resigned 30.5.23) P J West D P Meany D Shering
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and Distrirt Association rt of tht Trrtstets for Ihe Year Eded 31 A t 2023 RF.FF.RENCE AND ADMIYJSfRATIVE DETAILS Ittdependejkt Ei xsmkner & Forest First FIoDr, NcwBarrK5 Mill Cottonmill IAn¢ Albans ALI 2HA 10 )..... signed On its beh[ by.. AH)roved ty order of th¢ trd offmstees ott..... . D P M¢any- TTUSt¢e Pa8e 4
Independent Examiner's Report to the Trustees of Ringwood and District Community Association
Independent examiner's report to the trustees of Ringwood and District Community Association
I report to the charity trustees on my examination of the accounts of Ringwood and District Community Association (the Trust) for the year ended 31 August 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Zara Dunster FCA
Town & Forest Chartered Accountants First Floor, New Barnes Mill Cottonmill Lane St Albans AL1 2HA
Date: ............................................. 14 June 2024
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Ringwood and District Community Association
Statement of Financial Activities
for the Year Ended 31 August 2023
| Notes INCOME FROM Donations and legacies Charitable activities Charitable Activities Investment income 2 Total EXPENDITURE ON Raising funds Charitable activities Charitable Activities Total NET INCOME/(EXPENDITURE) Transfers between funds 9 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 32,832 230,215 1,756 264,803 9,033 233,855 242,888 21,915 31,831 53,746 1,229,851 1,283,597 |
Restricted fund £ 48,579 - 1,513 50,092 - 19,167 19,167 30,925 (31,831) (906) 192,364 191,458 |
31.8.23 Total funds £ 81,411 230,215 3,269 314,895 9,033 253,022 262,055 52,840 - 52,840 1,422,215 1,475,055 |
31.8.22 Total funds as restated £ 32,531 179,841 910 213,282 7,139 224,996 232,135 (18,853) - (18,853) 1,441,068 1,422,215 |
|---|---|---|---|---|
The notes form part of these financial statements
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od •*d Dljtrlrt CoJxmllTrl A3sotiatlorL 31Au 31.823 Totsl 31.8.22 Tot41 fid5 Unrestricted Rcstii(tsA fimd FIXED A&SETS Tangible H55&s 1.(99.( 148,5WI 1,247.650 1325545 CURRENf ASSETS Debtors Cash at bank and in batml 16,814 I,363 556 42.312 17.370 232,675 23,311 195,163 207.177 42.868 250.045 218,476 CREDITORS Amounts fa]lin8 due wiflutt one year (U640) (22,640) {21,806) NET CURREYF ASSEIS 184537 41868 227.405 196,670 TOTAL ASSETS LESS CURRENT LIABILITIES 1283597 191,458 1.475.055 1,422,215 NKT AS8ETS l283S97 191,458 1,475,055 I,422,215 FUNDS Unr¢stri¢t¢d funds Restri¢t¢d fijnth 1.283,597 191,458 1229,851 192364 T(rrAL FUNDS 1.475,055 1.421215 10 June 2024 The fincial 8taternents were approved bythe Board OrTr aT¥] wJthori5fd for issue on ......................... 4lld tre signed on Its thalf by: D P MtY-TrUSteC
Ringwood and District Community Association
Notes to the Financial Statements for the Year Ended 31 August 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The presentation currency of the financial statements is the Pound Sterling (£).
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance Fixtures and fittings - 25% on reducing balance Motor vehicles - 15% on reducing balance
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.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Trade debtors
Trade debtors are carried at original net invoice amount less an estimate for doubtful debtors. Bad debts are written off when identified. Specific provisions are made against debts whose recovery is considered doubtful.
Provisions and accruals
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.
continued...
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Ringwood and District Community Association
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
2. INVESTMENT INCOME
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|31.8.23|31.8.22|
|as restated|
|£|£|
|Interest receivable - trading|3,269|910|
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3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
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|31.8.23|31.8.22|
|as restated|
|Charitable|9|8|
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No employees received emoluments in excess of £60,000.
5. PRIOR YEAR ADJUSTMENT
A prior year adjustment was made in respect of restricted and unrestricted funds within fixed assets, cash at bank, restricted expenses and brought forward funds, and other creditors and donations from legacies in 2020. At 31 August 2022, this has resulted in unrestricted motor vehicles being £23,460 higher and unrestricted vehicles being £23,460 lower, restricted funds held in the bank were £19,084 lower and unrestricted funds in the bank were £19,084 higher, restricted expenses were £6,440 higher and unrestricted expenses were £6,440 lower, and other creditors were £84,975 lower. There was a transfer of restricted funds to unrestricted funds of £7,303, and restated restricted funds were £42,544 lower, and restated unrestricted funds were £127,519 higher. The previous restricted funds at 31 August 2022 were £234,908 and unrestricted funds were £1,102,332 before the necessary adjustments.
continued...
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Ringwood and District Community Association
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
6. TANGIBLE FIXED ASSETS
| COST At 1 September 2022 Additions At 31 August 2023 DEPRECIATION At 1 September 2022 Charge for year At 31 August 2023 NET BOOK VALUE At 31 August 2023 At 31 August 2022 |
Freehold property £ 1,163,792 - 1,163,792 - - - 1,163,792 1,163,792 |
Plant and machinery £ 90,695 1,211 91,906 79,440 1,703 81,143 10,763 11,255 |
Fixtures and fittings £ - 32,824 32,824 - 2,652 2,652 30,172 - |
Motor vehicles £ 133,912 - 133,912 83,414 7,575 90,989 42,923 50,498 |
Totals £ 1,388,399 34,035 1,422,434 162,854 11,930 174,784 1,247,650 1,225,545 |
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The Trustees have chosen not to provide depreciation on freehold property on the basis that is have a very long useful life.
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors Prepayments Accrued income |
31.8.23 £ 15,116 259 1,062 933 |
31.8.22 as restated £ 21,756 - 1,555 - |
|---|---|---|
| 17,370 | 23,311 |
continued...
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Ringwood and District Community Association
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Social security and other taxes Pension Other creditors Deferred expenditure Accrued expenses 9. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted Fund TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund Restricted funds Restricted Fund TOTAL FUNDS |
At 1.9.22 £ 1,229,851 192,364 1,422,215 as follows: |
Net movement in funds £ 21,915 30,925 52,840 Incoming resources £ 264,803 50,092 314,895 |
31.8.23 £ 925 1,130 555 632 17,000 2,398 22,640 Transfers between funds £ 31,831 (31,831) - Resources expended £ (242,888) (19,167) (262,055) |
31.8.22 as restated £ - 786 500 1,870 17,000 1,650 21,806 At 31.8.23 £ 1,283,597 191,458 1,475,055 Movement in funds £ 21,915 30,925 52,840 |
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continued...
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Ringwood and District Community Association
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.9.21 in funds £ £ Unrestricted funds General fund 1,246,761 (24,214) Restricted funds Restricted Fund 194,307 5,361 TOTAL FUNDS 1,441,068 (18,853) Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 194,495 Restricted funds Restricted Fund 18,787 TOTAL FUNDS 213,282 |
Transfers between funds £ 7,304 (7,304) - Resources expended £ (218,709) (13,426) (232,135) |
At 31.8.22 £ 1,229,851 192,364 1,422,215 Movement in funds £ (24,214) 5,361 (18,853) |
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10. RELATED PARTY DISCLOSURES
There were related party transactions in the year within donations.
The charity received donations totalling £27,407 in the year from The Friends of Greyfriars, a charity set up to receive donations and legacies in order to give financial assistance with the operation of Ringwood and District Community Association as and when required. R Brockhurst, G Habbin, M Pedersen, B Sindall and P Titt were also trustees of both charities in the period.
There were also related party transactions in the year within room hire income.
The charity received room hire income totalling £195 from Quantuma, a company of which David Meany, a trustee of the charity, is a director of. The rooms were hired out at arm's length price.
There were no other related party transactions for the year ended 31 August 2023.
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Ringwood and District Community Association
| INCOME Donations and legacies Gifts Grants Investment income Interest receivable - trading Charitable activities Room hire Minibus hire Minibus fuel rebate Members subscriptions Members life subscriptions Gift aid Affiliation fees Special activities Greyfriars study groups Books Canteen receipts Photocopying Miscellaneous Minibus mileage charge Total incoming resources EXPENDITURE Other trading activities Special events Charitable activities Wages Social security Pensions Light and heat Carried forward |
Detailed Statement of Financial Activities for the Year Ended 31 August 2023 31.8.23 31.8.22 as restated £ £ 55,860 22,857 25,551 9,674 81,411 32,531 3,269 910 148,536 109,651 19,534 19,138 1,154 314 9,918 7,536 964 1,836 881 1,082 1,175 1,855 11,126 10,495 11,763 9,118 8,939 7,036 5,721 4,441 357 631 10,047 6,604 100 104 230,215 179,841 314,895 213,282 9,033 7,139 115,950 106,008 1,578 1,174 3,120 2,341 44,202 25,720 164,850 135,243 |
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This page does not form part of the statutory financial statements
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Ringwood and District Community Association
| Charitable activities Brought forward Telephone Insurance Caretaking and cleaning Repairs and renewals General garden expenses Licence and PRS Printing, postage, stationery Photocopying Advertising and website Canteen Miscellaneous Minibus running expenses Newsletter Office expenses Tree management/replacement Independent examiner's fees Professional fees Plant and machinery Fixtures and fittings Motor vehicles Total resources expended Net income/(expenditure) |
Detailed Statement of Financial Activities for the Year Ended 31 August 2023 31.8.23 31.8.22 as restated £ £ 164,850 135,243 1,675 1,651 7,215 6,879 5,530 7,437 35,776 29,752 482 2,599 859 902 15 20 1,305 1,382 436 257 1,216 1,329 5,357 4,785 12,867 10,302 - 1,197 407 771 - 6,973 3,102 1,440 - 2,265 1,703 901 2,652 - 7,575 8,911 253,022 224,996 262,055 232,135 52,840 (18,853) |
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This page does not form part of the statutory financial statements
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