REGISTERED CHARITY NUMBER: 303057
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2024
for
Canons Community Association
Khushkam Limited 46-48 Byron Road Wealdstone Harrow Middlesex HA3 7SS
Canons Community Association
Report of the Trustees for the Year Ended 31 March 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
303057
Principal address
1-17 Wemborough Road Stanmore Middlesex HA7 2DU
Trustees
J Benn Jr Chair B Clipstone Treasurer Ms E O'Brien Ms M Kinsell P Smith Ms A J Clarke M O'Brien S McNamara D Bateman
Independent Examiner
Khushkam Limited 46-48 Byron Road Wealdstone Harrow Middlesex HA3 7SS
Approved by order of the board of trustees on 28 November 2024 and signed on its behalf by:
J Benn Jr - Trustee
Page 1
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 2024.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
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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 The Association of Chartered Certified Accountants
Khushkam Limited 46-48 Byron Road Wealdstone Harrow Middlesex HA3 7SS
28 November 2024
Page 2
Canons Community Association
Statement of Financial Activities for the Year Ended 31 March 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Other income Total EXPENDITURE ON Charitable activities General NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.3.24 Unrestricted fund £ 16,864 114,882 3,858 120 135,724 127,842 7,882 627,534 635,416 |
31.3.23 Total funds £ 37,590 80,859 1,638 120 120,207 67,890 52,317 575,217 627,534 |
|---|---|---|
The notes form part of these financial statements
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Canons Community Association
Balance Sheet 31 March 2024
| Notes FIXED ASSETS Tangible assets 6 Investments 7 CURRENT ASSETS Debtors 8 Cash at bank and in hand CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
31.3.24 Unrestricted fund £ 1,200 75 1,275 10,200 632,937 643,137 (8,996) 634,141 635,416 635,416 635,416 635,416 |
31.3.23 Total funds £ 1,200 75 1,275 6,135 625,890 632,025 (5,766) 626,259 627,534 627,534 627,534 627,534 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 28 November 2024 and were signed on its behalf by:
J Benn Jr - Trustee
B Clipstone - Trustee
The notes form part of these financial statements
Page 4
Canons Community Association
Notes to the Financial Statements for the Year Ended 31 March 2024
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.
Fixtures and fittings - 25% 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.
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continued...
Canons Community Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
2. OTHER TRADING ACTIVITIES
| Hire of premises - Sections Hire of premises - Affiliates Private lets Gift Aid 3. INVESTMENT INCOME Deposit account interest |
31.3.24 £ 8,721 16,279 89,882 - 114,882 31.3.24 £ 3,858 |
31.3.23 £ 5,850 18,765 55,855 389 80,859 31.3.23 £ 1,638 |
|---|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
The managing trustee J W Benn Jr - Chairman, was paid £12,984.70 (2023 - £10,861.98) for services rendered and work as a sub-contractor, these transactions were at arms length. The treasurer B Clipstone was paid £71.38 (2023 - £45) during the year for maintenance and upkeep of the website, these transactions were at arms length.
There were no other trustees' remuneration or benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
|---|---|
| Donations and legacies | 37,590 |
| Other trading activities | 80,859 |
| Investment income | 1,638 |
| Other income | 120 |
| Total | 120,207 |
| EXPENDITURE ON | |
| Charitable activities | |
| General | 67,890 |
| NET INCOME | 52,317 |
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continued...
Canons Community Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|---|---|---|---|
| Unrestricted | |||
| fund | |||
| £ | |||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 575,217 | ||
| TOTAL FUNDS CARRIED | |||
| FORWARD | 627,534 | ||
| 6. | TANGIBLE FIXED ASSETS | ||
| COST | Fixtures Short and leasehold fittings £ £ |
Totals £ |
|
| At 1 April 2023 and 31 March 2024 | 203,564 45,557 |
249,121 | |
| DEPRECIATION | |||
| At 1 April 2023 and 31 March 2024 | 203,564 44,357 |
247,921 | |
| NET BOOK VALUE | |||
| At 31 March 2024 | - 1,200 |
1,200 | |
| At 31 March 2023 | - 1,200 |
1,200 | |
| 7. | FIXED ASSET INVESTMENTS | ||
| MARKET VALUE | Shares in group undertakings £ |
||
| At 1 April 2023 and 31 March 2024 | 75 | ||
| NET BOOK VALUE | |||
| At 31 March 2024 | 75 | ||
| At 31 March 2023 | 75 | ||
| There were no investment assets outside the UK. | |||
| There were no investment assets outside the UK. |
Canons Association Limited is a wholly owned subsidiary of Canons Community Association.
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Canons Community Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
| 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Taxation and social security Other creditors 10. MOVEMENT IN FUNDS At 1.4.23 £ Unrestricted funds General fund 627,534 TOTAL FUNDS 627,534 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 135,724 TOTAL FUNDS 135,724 Comparatives for movement in funds At 1.4.22 £ Unrestricted funds General fund 575,217 TOTAL FUNDS 575,217 |
31.3.24 £ 10,200 31.3.24 £ - (1,188) 10,184 8,996 Net movement in funds £ 7,882 7,882 Resources expended £ (127,842) (127,842) Net movement in funds £ 52,317 52,317 |
31.3.23 £ 6,135 31.3.23 £ (1) (1,188) 6,955 5,766 At 31.3.24 £ 635,416 635,416 Movement in funds £ 7,882 7,882 At 31.3.23 £ 627,534 627,534 |
|---|---|---|
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Canons Community Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 120,207 120,207 |
Resources expended £ (67,890) (67,890) |
Movement in funds £ 52,317 52,317 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.22 £ 575,217 575,217 |
Net movement in funds £ 60,199 60,199 |
At 31.3.24 £ 635,416 635,416 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 255,931 255,931 |
Resources expended £ (195,732) (195,732) |
Movement in funds £ 60,199 60,199 |
|---|---|---|---|
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Canons Community Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
12. OPERATING TRADING RESULTS OF A SUBSIDIARY (CANONS ASSOCIATION LIMITED)
The turnover for the year was £59,413 (2023 - £51,239) with cost of sales of £25,431 (2023 - £22,729) giving a gross profit of £33,982 (2023 - 28,510). Administrative expenses were £33,592 (2023 - £72,908) giving a net profit of £390 (2023 loss of £44,398). There is no tax to pay as the company has arranged to make a donation of £390 to Canons Community Association, the charity that owns the share capital of Canons Association Limited.
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Canons Community Association
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
| INCOME AND ENDOWMENTS Donations and legacies Members & other donations Parking Subscriptions Affiliation fees Other trading activities Hire of premises - Sections Hire of premises - Affiliates Private lets Gift Aid Investment income Deposit account interest Other income Advertising income Total incoming resources EXPENDITURE Charitable activities Telephone Postage and stationery Licences & fees Website hosting & maintenance Support costs Management Wages Subcontractor costs Pensions Rates and water Insurance Carried forward |
31.3.24 £ 12,334 1,375 3,100 55 16,864 8,721 16,279 89,882 - 114,882 3,858 120 135,724 879 483 1,130 71 2,563 23,489 7,353 887 3,206 3,862 38,797 |
31.3.23 £ 33,740 - 3,795 55 37,590 5,850 18,765 55,855 389 80,859 1,638 120 120,207 901 461 959 45 2,366 21,071 8,696 400 1,425 3,846 35,438 |
|---|---|---|
This page does not form part of the statutory financial statements
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Canons Community Association
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
| Management Brought forward Light and heat Repairs & maintenance Finance Bank charges Other Sundries Governance costs Accountancy and legal fees Total resources expended Net income |
31.3.24 £ 38,797 35,066 48,607 122,470 25 - 2,784 127,842 7,882 |
31.3.23 £ 35,438 11,916 14,202 61,556 - 180 3,788 67,890 52,317 |
|---|---|---|
This page does not form part of the statutory financial statements
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Canons Community Association
Contents of the Financial Statements for the Year Ended 31 March 2024
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 10 |
| Detailed Statement of Financial Activities | 11 to 12 |