Charity registration number 302413
KINGS LANGLEY COMMUNITY ASSOCIATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
KINGS LANGLEY COMMUNITY ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
| Chair | Mr J Taylor | |
|---|---|---|
| Vice Chair | Mr R Balmforth | |
| Treasurer | Mrs D Woodman | |
| Additional Trustees | Mr M Goane | Ms S Pickard |
| Ms J Gray | Mrs R Swallow | |
| Mr S Hill | Mr N Taylor | |
| Mr E Martin | Mr J Thornton | |
| Charity number | 302413 | |
| Principal address | The Community Centre | |
| The Nap | ||
| Kings Langley | ||
| Hertfordshire | ||
| WD4 8ET | ||
| Contact | Mr J Taylor | |
| 248 Hempstead Road | ||
| Watford | ||
| Hertfordshire | ||
| WD17 3HJ | ||
| Independent examiner | Gary Howard FCA | |
| Howard Wilson Chartered Accountants | ||
| 36 Crown Rise | ||
| Watford | ||
| Hertfordshire | ||
| WD25 0NE | ||
| Bankers | Lloyds Bank Plc | |
| 67 High Street | ||
| Watford | ||
| Hertfordshire | ||
| WD17 2DU | ||
| National Savings | ||
| Glasgow | ||
| G58 1SB |
KINGS LANGLEY COMMUNITY ASSOCIATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Statement of trustees' responsibilities | 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 14 |
KINGS LANGLEY COMMUNITY ASSOCIATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles of Association, 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 in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019).
Charitable Objects and a Review of Activities and Financial Review
The Association continued to maintain and manage the Kings Langley Community Centre buildings for the activities promoted by the Association and by its affiliated bodies.
The Association benefits the inhabitants of Kings Langley and the surrounding areas, in accordance with the objects, as specified in its constitution.
The charity had a surplus for the year of £13,408 (2023: deficit of £5,215). Reserves at the year-end were £192,115 of which £36,966 is represented by fixed assets.
At Committee meetings, potential risks to the charity’s operations are regularly reviewed. Internal financial controls and reporting procedures are in place, and the maintenance of free reserves at £153,886 (2023: £141,737) on deposit/current account provides adequate resources in the event of adverse economic conditions and for the continued maintenance of the 75 year old building.
However, the trustees are concerned that the good financial health of the charity has been due to low overheads through low-cost operating arrangements. The work of trustees and other volunteers has allowed the Centre to operate without a paid caretaker or paid bar staff. In common with many small charities volunteer help is increasingly hard to recruit and failure to maintain an adequate number of suitable volunteers will result in a substantial increase in operating costs.
Public benefit statement
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Volunteers
Most of the work required to run the Centre is provided by volunteers and the Trustees wish to record their thanks to all those volunteers who have contributed to the maintenance and the smooth running of the Community Centre in 2024.
Investment policy
The Trustees have continued with their previously stated Investment Policy which is to maintain free reserves on an interest-bearing deposit account with our main bankers, a term deposit account reinvested until April 2026 and a separate higher earning deposit Account with the Nationwide Building Society. This allows the association to benefit from the higher interest rate, thereby benefiting income and mitigating risk. This continues to be monitored on a regular basis.
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KINGS LANGLEY COMMUNITY ASSOCIATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Risk management
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The Kings Langley Community Association is an unincorporated body run by a Council in accordance with the Constitution adopted in General Meeting on 11 September 2024.
The members of the Council are the Trustees of the charity and meet no less than three times in a year. Membership of the charity can be individual or group (local voluntary organisations and statutory authorities).
The trustees who served since the start of the period are as follows:
Mr R Balmforth Mr M Goane Ms J Gray Mr S Hill Mr E Martin Ms A McLauchlin (resigned 23 May 2024) Ms S Pickard Mr M Swallow (resigned 23 May 2024) Mrs R Swallow Mr J Taylor Mr N Taylor Mr J Thornton Mrs D Woodman
The title of all and any real property which may be acquired by, or the purpose of the Association is vested in the Holding Trustees who are appointed by the Council and who enter in a Deed of Trust setting for the purposes and conditions under which they hold the said property in trust for the Association. The number of Trustees shall not be less than two or more than five.
It is our aim to make sure that we have at least two Trustees that are nominated as Holding Trustees. This will usually be the Chairperson and the Treasurer. If more are needed for banking purposes, then this will include the Secretary and the Vice Chairperson in that order. Holding Trustees who retire will be removed from all Trust Property records in a legal and timely manner.
Each group member can appoint one Trustee who will serve on the Council. Members of the Council may co- opt up to one third of the Council. All Council members retire at the next Annual General Meeting but are eligible for re-election at that meeting. The Annual General Meeting, held each year in March/April, elects the Honorary Officers and President. There are usually 6 meetings held each year. The Council elects the Chairperson who has the power to call additional meetings by giving not less than 7 days ' notice.
All votes at meetings are decided by simple majority and a meeting is quorate if one quarter of those entitled to vote are present. Minute books are kept for all meetings. A full copy of the constitution can be obtained from the Honorary Secretary.
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KINGS LANGLEY COMMUNITY ASSOCIATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Plans for the future
The Association will continue to maintain the Community Centre for the activities promoted by the Association and its affiliated bodies for the benefit of the inhabitants of Kings Langley and the surrounding areas. During 2024, we improved the air conditioning and the lightling in some areas of the Centre. We continued with the new maintenance schedule and there are now regular working parties to complete the schedule. Plans for 2025 include looking at the stage area, refurbishment as needed and general management to improve the aesthetics of the hall.
The trustees' report was approved by the Board of Trustees.
Mr J Taylor
Trustee Dated: 18 June 2025
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KINGS LANGLEY COMMUNITY ASSOCIATION
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the applicable Charity (Accounts and Reports) Regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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KINGS LANGLEY COMMUNITY ASSOCIATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF KINGS LANGLEY COMMUNITY ASSOCIATION
I report to the trustees on my examination of the financial statements of Kings Langley Community Association (the charity) for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
Gary Howard FCA
Howard Wilson Chartered Accountants 36 Crown Rise Watford Hertfordshire WD25 0NE
Dated: 19 June 2025
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KINGS LANGLEY COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes Income: Income from charitable activities Operation of community centre 3 Income from ancillary trading activities Bar income 4 Investment income 5 Total income Expenditure: Cost of raising funds Bar purchases 4 Expenditure on charitable activities Operation of community centre 6 Total expenditure Net income/(expenditure) for the year/ Net movement in funds Fund balances at 1 January 2024 Fund balances at 31 December 2024 |
2024 £ 32,571 17,585 4,148 54,304 7,242 33,654 40,896 13,408 178,707 192,115 |
2023 £ 26,115 10,882 1,838 38,835 4,460 39,590 44,050 (5,215) 183,922 178,707 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
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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KINGS LANGLEY COMMUNITY ASSOCIATION
BALANCE SHEET
AS AT 31 DECEMBER 2024
| Notes Fixed assets Tangible assets 11 Current assets Stocks 12 Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Income funds Unrestricted funds |
2024 £ 2,052 2,404 153,886 158,342 (3,193) |
£ 36,966 155,149 192,115 192,115 192,115 |
2023 £ 932 2,682 141,737 145,351 (3,530) |
£ 36,886 141,821 |
|---|---|---|---|---|
| 178,707 | ||||
| 178,707 | ||||
| 178,707 |
The financial statements were approved by the Trustees on 18 June 2025
Mr J Taylor Trustee
Mrs D Woodman Trustee
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KINGS LANGLEY COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
Kings Langley Community Association is an unincorporated charity.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, 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 in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity 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 preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are funds received which can only be used for the specific purpose as laid out by the donor. Expenditure which meets this criteria is identified to the fund, together with a fair allocation of overhead costs.
1.4 Income
Income is recognised when the charity 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.
Cash donations are recognised on receipt. Other donations are recognised once the charity 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.
1.5 Expenditure
Expenditure is included in the Statement of Financial Activities on an accruals basis inclusive of VAT.
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KINGS LANGLEY COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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 bases:
Leasehold buildings 10% reducing balance Furniture and equipment 10% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
1.9 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.
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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KINGS LANGLEY COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.11 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12 Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Operation of community centre
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Operation of Community Centre | 32,571 | 26,115 |
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KINGS LANGLEY COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 4 | Bar Trading and Profit and Loss Account | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Sales | 17,585 | 10,882 | |
| Cost of sales | 9,294 | 4,460 | |
| Net profit | 8,291 | 6,422 | |
| 5 | Income from investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Interest receivable | 4,148 | 1,838 | |
| 6 | Operation of community centre | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Depreciation | 3,852 | 3,783 | |
| Alarm maintenance | 999 | 671 | |
| Cleaning & domestic | 8,184 | 7,284 | |
| Fees & licences | 961 | 723 | |
| Insurance | 1,837 | 1,638 | |
| Light, heat & water | 8,624 | 7,492 | |
| Repairs & maintenance | 4,374 | 15,521 | |
| Credit card charges | 1,015 | 910 | |
| Telephone | 737 | 629 | |
| Computer and website costs | 1,455 | - | |
| General costs | 646 | 249 | |
| Legal and professional costs | 250 | - | |
| Governance costs | 720 | 690 | |
| 33,654 | 39,590 | ||
| Governance costs includes payments to the independent examiners of £720 (2023: £690). | |||
| 7 | Net movement in funds | 2024 | 2023 |
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Depreciation of owned tangible fixed assets | 3,852 | 3,783 |
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KINGS LANGLEY COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
During the year, expenses were reimbursed to five Trustees totalling £7,625 in respect of expenditure on bar purchases (£4,636), computer and website costs (£1,455), repairs and maintenance (£370), credit card machine charges (£794) and sundry other costs (£370).
9 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Trustees | 11 | 15 |
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Tangible fixed assets
| Leasehold buildings Furniture and equipment £ £ Cost At 1 January 2024 80,066 70,009 Additions - 3,930 At 31 December 2024 80,066 73,939 Depreciation and impairment At 1 January 2024 64,615 48,572 Depreciation charged in the year 1,545 2,307 At 31 December 2024 66,160 50,879 Carrying amount At 31 December 2024 13,906 23,060 At 31 December 2023 15,450 21,436 |
Total £ 150,075 3,930 |
|---|---|
| 154,005 | |
| 113,187 3,852 |
|
| 117,039 | |
| 36,966 | |
| 36,886 |
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KINGS LANGLEY COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 12 Stocks Finished goods and goods for resale 13 Debtors Amounts falling due within one year: Other debtors Prepayments and accrued income 14 Creditors: amounts falling due within one year Notes Deposits & payments in advance 15 Accruals and deferred income 15 Deferred income Other deferred income |
2024 £ 2,052 2024 £ 2,074 330 2,404 2024 £ 1,371 1,822 3,193 2024 £ 1,371 |
2023 £ 932 |
|---|---|---|
| 2023 £ 2,274 408 |
||
| 2,682 | ||
| 2023 £ 1,255 2,275 |
||
| 3,530 | ||
| 2023 £ 1,255 |
16 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At | 1 | January | Incoming | Resources | At 31 | |
|---|---|---|---|---|---|---|
| 2024 | resources | expended | December | |||
| 2024 | ||||||
| £ | £ | £ | £ | |||
| General funds | 178,707 | 54,304 | (40,896) | 192,115 |
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KINGS LANGLEY COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 16 | Unrestricted funds | (Continued) | |||
|---|---|---|---|---|---|
| Previous year: | At 1 January | Incoming | Resources | At 31 | |
| 2023 | resources | expended | December | ||
| 2023 | |||||
| £ | £ | £ | £ | ||
| General funds | 183,922 | 38,835 | (44,050) | 178,707 |
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