**REGISTERED CHARITY NUMBER: 303057**
## Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
## CANONS COMMUNITY ASSOCIATION
Khushkam Limited Chartered Certified Accountants 46-48 Byron Road Wealdstone Harrow Middlesex HA3 7SS
CANONS COMMUNITY ASSOCIATION
## Report of the Trustees
## FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 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 aim of the charity is to promote any charitable purpose for the well-being of the inhabitants residing in Stanmore and Edgware and the neighbourhood without distinction of sex or of political, religious or other opinions by the advancement of education and the provision of facilities in the interests of social welfare for recreation and leisure time occupation with the object of improving the conditions of life and health for the said inhabitants. to associate with the local authority, voluntary organisations and residents in a common effort to advance all forms of education, and to foster a community spirit for the achievement of these and such other purposes as may by law be deemed to be charitable.
## **Significant activities**
The charity has progressed well from the previous year with success in securing the return of pre-Covid lets and classes.
Canons Association Limited, a wholly owned subsidiary of the Canons Community Association, is responsible for the management of the Bar. Sales are on the increase and it is now back in profit.The staff of the Canons Association Limited are responsible for the security of the entire Association and cover a lot of Association duties outside of normal office hours.
## **Volunteers**
Its real strength lies in the enormous amount of voluntary service it receives from its members who willingly and generously give of their time at all hours. Volunteers do not receive any remuneration and on almost all cases never even claim out of pocket expenses. The Charity's General Committee (with the aid of executive and other committees) are also responsible for the management of the building including rental of halls and their maintenance. All other activities of the Association are done through voluntary sections and members who donate to the Association in furtherance of its objects.
## **FINANCIAL REVIEW**
## **Reserves policy**
It is the policy of the charity to maintain unrestricted funds at a level which approximatley equates to three years' unrestricted expenditure. This provides sufficient funds to cover management, administration and support costs. This also allows for forward planning on a going concern basis. Reserves will also be required for when the lease is up for renewal in 2021, it is hoped that a yearly payment lease will be secured in early 2024 without an upfront payment but will still be for 25 years.
The year has seen an increase in lettings with the corresponding increase in total incoming resources, the support costs have been kept at the same levels as in previous years' thus there is an increase in the surplus on activities. The newly refurbished bar is also showing an increase in sales and the hope is that this will continue to increase.
## **FUTURE PLANS**
There is a redecoration program that is ongoing and is continuing until all necessary projects have been completed. The lease of the Association is due for renewal in 2021 and the trustees are working towards ways of increasing income such that they are in a position to meet all corresponding costs.
The Association is also looking to replace the entire flat roof and renew the electrical systems and heating.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Canons Community Accociation ("the charity") was established in 1957 and registered as a charity on 1st January 1961. The charity's constitution was amended in October 2001.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
303057
Page 1
CANONS COMMUNITY ASSOCIATION
## Report of the Trustees
## FOR THE YEAR ENDED 31 MARCH 2023
## **Principal address**
1-17 Wemborough Road Stanmore Middlesex HA7 2DU
## **Trustees**
J W Benn Jnr Chair D Cox Deputy Chair (deceased 1.4.23) B Clipstone Treasurer Mrs P Richards P Smith S McNamara D Norton Mrs M Kinsella Mrs J Clake M O'Brien Mrs E O'Brien B Smith
## **Independent Examiner**
Sangita Patel FCCA Khushkam Limited Chartered Certified Accountants 46-48 Byron Road Wealdstone Harrow Middlesex HA3 7SS
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ J W Benn Jnr - Trustee
Page 2
Independent Examiner's Report to the Trustees of Canons Community Association
## **Independent examiner's report to the trustees of Canons Community Association**
I report to the charity trustees on my examination of the accounts of Canons Community Association (the Trust) for the year ended 31 March 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**
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:
1. 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
3. 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.
Sangita Patel FCCA
Khushkam Limited Chartered Certified Accountants 46-48 Byron Road Wealdstone Harrow Middlesex HA3 7SS
Date: .............................................
Page 3
CANONS COMMUNITY ASSOCIATION
## Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2023
|31.3.23
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
37,589
Other trading activities
3
80,859
Investment income
4
1,638
Other income
120
**Total**
120,206
**EXPENDITURE ON**
**Charitable activities**
5
Management & administration
31,194
General
3,604
Support costs
33,092
**Total**
67,890
**NET INCOME**
52,316
**RECONCILIATION OF FUNDS**
Total funds brought forward
575,218
**TOTAL FUNDS CARRIED FORWARD**
627,534|31.3.22
Total
funds
£
23,820
63,005
2,044
-
88,869
-
65,147
-
65,147
23,722
551,496
575,218|
|---|---|
The notes form part of these financial statements
Page 4
CANONS COMMUNITY ASSOCIATION
## Balance Sheet 31 MARCH 2023
|31.3.23
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
10
1,200
Investments
11
75
1,275
**CURRENT ASSETS**
Debtors
12
6,135
Cash at bank and in hand
625,890
632,025
**CREDITORS**
Amounts falling due within one year
13
(5,766)
**NET CURRENT ASSETS**
626,259
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
627,534
**NET ASSETS**
627,534
**FUNDS**
14
Unrestricted funds
627,534
**TOTAL FUNDS**
627,534|31.3.22
Total
funds
£
1,200
75
1,275
20,587
580,402
600,989
(27,046)
573,943
575,218
575,218
575,218
575,218|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. B Clipstone - Trustee
............................................. J W Benn Jnr - Trustee
The notes form part of these financial statements
Page 5
CANONS COMMUNITY ASSOCIATION
Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 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, with the exception of investments which are included at market value.
## **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.
Short leasehold - in accordance with the property Fixtures and fittings - 20% on cost
Tangible fixed assets for use by the charity are stated at cost.
## **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.
## **Sections**
Association's activities are carried out through autonomous sections and members. Assets and liabilities of sections, which are autonomous, have been excluded from the balance sheet. Income surpluses are included in the statement of Financial Activity only to the extent that these surpluses have been donated by the sections.
continued...
Page 6
CANONS COMMUNITY ASSOCIATION
## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2023
|**2.**
**DONATIONS AND LEGACIES**
Members and other donations
Grants
Subscriptions
Subscriptions affiliations fee
Grants received, included in the above, are as follows:
Other grants
**3.**
**OTHER TRADING ACTIVITIES**
Hire of Premises - Sections
Hire of Premises - Affiliates
Private lets
Gift Aid
**4.**
**INVESTMENT INCOME**
Deposit account interest
**5.**
**CHARITABLE ACTIVITIES COSTS**
Management & administration
General
Support costs|31.3.23
31.3.22
£
£
33,739
35
-
21,000
3,795
2,785
55
-
37,589
23,820
31.3.23
31.3.22
£
£
-
21,000
31.3.23
31.3.22
£
£
5,850
3,940
18,765
14,326
55,855
44,739
389
-
80,859
63,005
31.3.23
31.3.22
£
£
1,638
2,044
Support
Direct
costs (see
Costs
note 6)
Totals
£
£
£
959
30,235
31,194
8
3,596
3,604
1,399
31,693
33,092
2,366
65,524
67,890|
|---|---|
continued...
Page 7
CANONS COMMUNITY ASSOCIATION
## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2023
## **6. SUPPORT COSTS**
|Management
£
Management & administration
25,547
General
3,596
Support costs
32,413
61,556|Governance
Other
costs
£
£
-
4,688
-
-
180
(900)
180
3,788|Totals
£
30,235
3,596
31,693
65,524|
|---|---|---|
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
The managing trustee J W Benn Jnr - Chairman, was paid £10861.98 (2022 - £8332.94.) for services rendered and work as a sub-contractor, these transactions were also at arms length.
The treasurer B Clipstone was paid £45.00 (2022- £459.88 during the year for the maintenance and upkeep of the website and new IT equipment., this was at arms length.
There were no other trustees' remuneration or benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021..
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **8. STAFF COSTS**
No employee received remuneration of more than £50,000.
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other trading activities
Investment income|Unrestricted
fund
£
23,820
63,005
2,044|
|---|---|
|**Total**|88,869|
|**EXPENDITURE ON**
**Charitable activities**
General|65,147|
|**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward|23,722
551,496|
|**TOTAL FUNDS CARRIED FORWARD**|575,218|
continued...
Page 8
CANONS COMMUNITY ASSOCIATION
## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2023
## **10. TANGIBLE FIXED ASSETS**
|**10.**|**TANGIBLE FIXED ASSETS**|||||
|---|---|---|---|---|---|
|||||Fixtures||
|||Short||and||
|||leasehold||fittings|Totals|
|||£||£|£|
||**COST**|||||
||At 1 April 2022 and 31 March 2023|203,564||45,557|249,121|
||**DEPRECIATION**
At 1 April 2022 and 31 March 2023|203,564||44,357|247,921|
||**NET BOOK VALUE**
At 31 March 2023||-|1,200|1,200|
||At 31 March 2022||-|1,200|1,200|
|**11.**|**FIXED ASSET INVESTMENTS**|||||
|**12.**|**MARKET VALUE**
At 1 April 2022 and 31 March 2023
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022
There were no investment assets outside the UK.
Canons Association Limited is a wholly owned subsidiary of Canons Community
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments and accrued income|||Association.
31.3.23
£
6,135|Shares in
group
undertakings
£
75
75
75
31.3.22
£
20,587|
|||||||
continued...
Page 9
CANONS COMMUNITY ASSOCIATION
## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2023
|**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Taxation and social security
Other creditors
**14.**
**MOVEMENT IN FUNDS**
At 1.4.22
£
**Unrestricted funds**
General fund
575,218
**TOTAL FUNDS**
575,218
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
120,206
**TOTAL FUNDS**
120,206
**Comparatives for movement in funds**
At 1.4.21
£
**Unrestricted funds**
General fund
551,496
**TOTAL FUNDS**
551,496
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
88,869
**TOTAL FUNDS**
88,869|31.3.23
31.3.22
£
£
(1,188)
(46)
6,954
27,092
5,766
27,046
Net
movement
At
in funds
31.3.23
£
£
52,316
627,534
52,316
627,534
Resources
Movement
expended
in funds
£
£
(67,890)
52,316
(67,890)
52,316
Net
movement
At
in funds
31.3.22
£
£
23,722
575,218
23,722
575,218
Resources
Movement
expended
in funds
£
£
(65,147)
23,722
(65,147)
23,722|
|---|---|
continued...
Page 10
CANONS COMMUNITY ASSOCIATION
## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2023
## **14. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|||Net||
|---|---|---|---|
|||movement|At|
||At 1.4.21|in funds|31.3.23|
||£|£|£|
|**Unrestricted funds**||||
|General fund|551,496|76,038|627,534|
|**TOTAL FUNDS**|551,496|76,038|627,534|
|A current year 12 months and prior year 12 months combined net movement in funds, included in the above||||
|as follows:||||
|**Unrestricted funds**|Incoming
resources
£|Resources
expended
£|Movement
in funds
£|
|General fund|209,075|(133,037)|76,038|
|**TOTAL FUNDS**|209,075|(133,037)|76,038|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
## **15. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2023.
## **16. OPERATING TRADING RESULTS OF A SUBSIDIARY (CANONS ASSOCIATION LIMITED)**
The turnover for the year was £51,239 (2022 - £54,504) with cost of sales of £22,729 (2022 - £20,283 giving a gross profit of £28,519 (2022 - £20283 1). Administrative expenses were £20,238 (2022- £21,880) giving a net profit of £8,272 (2022 -net profit of £12,341; .There is no tax to pay as the company has arranged to make a donation of £8,272 (2022 - £12,341) to Canons Community Association, the charity that owns the share capital of Canons Association Limited.
Page 11
CANONS COMMUNITY ASSOCIATION
## Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2023
|Detailed Statement of Financial Activities
FOR THE YEAR ENDED 31 MARCH 2023|||
|---|---|---|
||31.3.23|31.3.22|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Members and other donations|33,739|35|
|Grants|-|21,000|
|Subscriptions|3,795|2,785|
|Subscriptions affiliations fee|55|-|
|**Other trading activities**|37,589|23,820|
|Hire of Premises - Sections|5,850|3,940|
|Hire of Premises - Affiliates|18,765|14,326|
|Private lets|55,855|44,739|
|Gift Aid|389|-|
|**Investment income**|80,859|63,005|
|Deposit account interest|1,638|2,044|
|**Other income**|||
|Advertising income|120|-|
|**Total incoming resources**|120,206|88,869|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Telephone and internet|901|966|
|Postage and stationery|461|872|
|Licences and fees|959|847|
|Website hosting & maintenance|45|69|
|**Support costs**|2,366|2,754|
|**Management**|||
|Wages|21,071|15,680|
|Subcontractor costs|8,696|5,974|
|Pensions|400|-|
|Rates and water|1,425|1,498|
|Insurance|3,846|3,836|
|Light and heat|11,916|12,105|
|Rent|-|250|
|Repairs and maintenance|14,202|13,168|
|Short leasehold|-|6,864|
||61,556|59,375|
This page does not form part of the statutory financial statements
Page 12
CANONS COMMUNITY ASSOCIATION
|Detailed Statement of Financial Activities|||
|---|---|---|
|FOR THE YEAR ENDED 31 MARCH 2023|||
||31.3.23|31.3.22|
||£|£|
|**Management**|||
|**Other**|||
|Sundries|180|138|
|**Governance costs**|||
|Accountancy and legal fees|3,788|2,880|
|Total resources expended|67,890|65,147|
|**Net income**|52,316|23,722|
||||
This page does not form part of the statutory financial statements
Page 13
CANONS COMMUNITY ASSOCIATION
## Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2023
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|2|
|Independent Examiner's Report||3||
|Statement of Financial Activities||4||
|Balance Sheet||5||
|Notes to the Financial Statements|6|to|11|
|Detailed Statement of Financial Activities|12|to|13|