## **WANSTEAD HOUSE COMMUNITY ASSOCIATION**
An Association established by trust deed
Charity registration number 303190
Wanstead House, 21 The Green, London E11 2NT
**Financial statements for the year ended 31 March 2023**
## **WANSTEAD HOUSE COMMUNITY ASSOCIATION**
## **Legal and Administrative information**
**Legal status:** The Charity is an unincorporated association **Governing document:** Trust deed **Principal address:** Wanstead House 21 The Green London E11 2NT **Bankers:** Barclays Bank plc 130 George Lane South Woodford London E18 1AZ **Auditors:** Samuels LLP Chartered Accountants & Registered Auditors 3 Locks Yard High Street Sevenoaks Kent TN13 1LT
page 1
## **WANSTEAD HOUSE COMMUNITY ASSOCIATION**
## **Trustees' report**
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 2015.)
## **Registered Charity Number**
303190
## **Registered Office**
Wanstead House, 21 The Green, London, E11 2NT.
## **Structure, Governance and management**
The Charity is governed by its Constitution adopted at a Special General Meeting on 30th November 2009.
## _**Current Trustees:**_
Mr Ron Filer President Mrs. Janet Fox Chairman Mr David Norman Gibbs Vice Chairman Mrs Maureen Eneberi Honorary Secretary Mr Mark Murrell Honorary Treasurer Mrs Barbara Bishop Mr Ben Harte Mrs Patricia Marriott Mrs Sandra Nicholls Mr Christopher Saunders
London Borough of Redbridge Representatives: Cllr Sheila Bain Cllr Daniel Morgan-Thomas
_**The Management Trustees who served during the year are as shown below:**_ Mr Ron Filer President Mrs. Janet Fox Chairman Mr David Norman Gibbs Vice Chairman Mrs Maureen Eneberi Honorary Secretary Mr Mark Murrell Honorary Treasurer Mrs Barbara Bishop Mr Ben Harte Mrs Patricia Marriott Mrs Sandra Nicholls Mr Christopher Saunders
London Borough of Redbridge Representatives: Cllr Sheila Bain Cllr Daniel Morgan-Thomas
The Association had no requirement for a Custodian Trustee.
page 2
## **WANSTEAD HOUSE COMMUNITY ASSOCIATION**
## **Trustees' report (continued)**
for the year ended 31 March 2023
## **Appointment and Training of Trustees**
Trustees are appointed by the membership of the Association as prescribed by the Constitution by election at the Association's Annual General Meeting and retire at the following Annual General Meeting. Trustees are permitted to stand for re-election. The Trustees have the power to co-opt to fill any unelected vacancies. All Trustees are provided with the Association's Constitution. No specific training is provided by the Association save that from time to time individual Trustees may undertake training commensurate with their specific roles. No training was undertaken.
## **Organisation Structure**
Certain authority from the trustees is delegated to the Centre manager, Mrs Ann Brockway in dealing with the day to day management of the charity.
## **Achievements and performance**
The principal activities of the Charity are: (a) to improve the conditions of life of the Community resident in Wanstead and Woodford and surrounding areas by associating with local authorities, voluntary organisations and residents in providing facilities for physical and mental training recreation, including the opportunity for social intercourse, and other leisure-time occupation, for the residents and (b) to co-operate with the local authorities in the maintenance and management of a community centre for activities promoted by the Association and its constituent bodies, in furtherance of the above activities.
The Association has continued to serve its local community in providing educational and recreational activity. It has widened its range of activities to include community health and wellbeing. Through continued careful planning the House was able to offer its full range of accommodation and services, including social activities. Additional users of the House were found to replace those lost by the Redbridge Institute of Adult Education. Constituent bodies have continued to engage with the House and membership of the House has been encouraged.
The Charity's principal funding source of rental income held up remarkably well following the rent increases to compensate for several years of frozen rates to mitigate the effects of Covid-19. New rentals offset the loss of the Redbridge Institute block payments following a restructing of the classes they offer and withdrawal from satellite sites. The grant from London Borough of Redbridge (Vision) increased fractionally. The Charity did not engage in any substantive fundraising activities during the current year. Expenditure throughout the year supported its key objective of running activities at Wanstead House for the benefit of all members of the local community.
## **Future strategy**
The Association will continue to seek expansion of its activities and facilities to members of the local community by encouraging new groups and organisations to use the Centre. This will be achieved by increasing public awareness and local advertising. In the mid term, the Charity is looking to consolidate reserves ahead of its leasehold renewal, which have grown notwithstanding the challenges of covid-19 and the more recent escallation of energy costs. The reserving policy has ensured that the House was and continues to be well placed to absorb operational losses through difficult operating conditions.
## **Financial Review**
The Charity adopts a policy of ensuring that its free reserves are sufficient to meet its day to day operation should income levels unexpectedly diminish and to provide for unexpected items of expenditure primarily concerned with the upkeep of the Hall and the internal maintenance of the House and its entrances and windows in accordance with its leasehold obligations. Income levels are expected to be maintained in 2023/24 with rents once again frozen to mitigate the effects of the economic downturn. Fixed pricing was entered into to offset wild fluctuations in energy costs.
Page 3
## **WANSTEAD HOUSE COMMUNITY ASSOCIATION**
## **Trustees' report (continued)**
for the year ended 31 March 2023
Other costs are expected to rise and are expected to be managed from reserves in the short term, which through careful management have yet to be called upon despite the pandemic and econmic downturn. In the longer term the policy is to increase reserves when conditions permit to enable the Charity to renew its leasehold of Wanstead House as a community centre. From time to time the Trustees designate funds from reserves for specific expenditure.
The free reserve stands at £318,364 for the reasons stated above. In addition to which there are available designated funds totalling £22,365 for the specific purposes of replacement of remaining windows and the emergency repairs contingency as noted in the accounts.
The Charity has been able to absorb the effects of the econommic downturn, soaring energy costs and the loss of a long standing hirer such that the Association has greater confidence of continuing to make the House available to the Community in continued challenging circumstances.
## **Reserves policy**
The Trustees consider that the free reserves held by the Charity are sufficient for the coming financial year notwithstanding the uncertainty occasioned by the econmic downturn and energy costs.
## **Investment policy**
The Trustees have considered the most appropriate policy for investing funds and has found that Barclays Tracker account meets their requirements. In the absence of any other investments the Trustees did not consider it necessary to appoint a Custodian Trustee. These matters will be reviewed periodically.
## **Risk review**
The Trustees have conducted a review of the major risks to which the Charity is exposed and systems have been established to mitigate those risks. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the Charity. These procedures are periodically reviewed to ensure that they still meet the needs of the Charity. Additional meetings, maybe held to further monitor the affects of the economic downturn, energy crisis and potential affects of covid-19 variants particularly over the winter months on operations and financial liquidity. The cash reserve provides sufficient protection against unpredictable rises in expenditure in the short term.
## **Risk review**
The trustees confirm that they have complied with the duty in s17(5) of the Charities Act 2011 and to have due regard to the guidance issued by the Charity Commission on public benefit. See the principal activities section above as to the main activities undertaken by the Charity to further its purposes for public benefit.
## **Auditors**
A resolution will be placed before the annual general meeting to reappoint Samuels LLP, Chartered Accountants and Registered Auditors, as auditors for the ensuing year.
page 4
WANSTEAD HOUSE COMMUNITY ASSOCIATION
St#t8m•nt of TruJtM¥' R•sponslbllltl•8
The trustees are r8sponsibl6 for prepanng the Report of the Tru8ta68 and the financial stalomenls in accordan¢fj
with applicable law and United lQngdom Accounting Standard8 (United Kingdom Gongrally Accepted Acc(yJnUng
Practico. statements In accordance wlh applicable law and Unlled Klngdom AOUnng Standard8 (Unlted
Klngdom Generally Accepted Accounting Practlce.)
The law applicable lo Charilies In England 8nd W81es. Iha Charlues Act 2011, Charlty (Accounts and Reports)
Reoulauons 2008 and the provlslons of Ihe Inj81 da8d requlres the trustees to pr8p8re flnancial stBtsments for
each financlal year whlch glve 8 true and fair vlew of the slate of affolrs of Iho charity and of the incoming
resources and application of r6sourca8, includin9 th& Income and 6xponditure. of the charlty lor Ih•l perlod. In
preparing those financial statements, tha trustee8 aro r6qulred to.,
salect 8ullable accoufttlng pollcl6s and then apply them conBl8lently',
ob88rv8 th6 m6lhods And pnCIpl8$ In tho Chorily SORP.,
make judo8m6n18 and 6sllmal88 IhAt aré reasonable and prudent;
prepare the financlal slalaments on the going concern bas15 unle861118 Inapprowlato
lo presume that the Chadty wlll conllnuo to oporate.
Tha Trust888 are rasponslble for keeplng proper accounllng r8cordg whlth dlsc1088 th re880nable accuracy al
any tlme the fin8nclal poslllon of thg Chodty and to enable them to ansure that the financ181 statements comply
wllh the Charltles Act 2011, thè Charity {Accoun18 and Report8) R8gulalion$ 2008 and the provl8lon8 of the tru8t
d88d. They are a180 r8spon81blè for Bafgguarding the a888ts of tha charity and henGe fof taklng rga60nable 8lep6
for the prevention and del8Ctlon of fraud and other Irregularille6.
Approved by order of the Board ol Trustees on 13 November 2023 and ¥igngd on 518 bahalf by..
Janel Fox Ichalmian)
page 5
## **WANSTEAD HOUSE COMMUNITY ASSOCIATION**
## **Report of the Independent Auditors to the Trustees of Wanstead House Community Association**
## **Opinion**
We have audited the financial statements of Wanstead House Community Association (the ‘Charity’) for the year ended 31 March 2023 on pages eight to fifteen. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-give a true and fair view of the state of the Charity’s affairs as at 31 March 2023 and of its incoming resources and application of sources for the year then ended; -have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
-The Trustees use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
-The Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
## **Other information**
The Trustees are responsible for the other information. The other information comprises the information in the Trustees’ Report, but does not include the financial statements and our Report of the Auditors thereon.
Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
page 6
WANSTEAD HOUSE COMAIUNITY ASSOCIATION
R•wt of the Ind•pèndent Audltorn to the Tnmtees of Wanstead House Comnwnlty A88oclallon
(Contd.)
R•sponSlbllltl olth• Tru$t••s
As explained more ful in the Statement of Trustees, Responsibilitie5 set t on page five, the Trustees are
responsiblo for Ihg preparation of the finaroal stslemnts and for being satisfied that Ih8y give a true and fair
view, and for such inlemal control as the Trustees delemilne necessary to enable the preparauon of Ilnandal
statements that are free from matsrfal misstalement, whether due to fraud or grror.
In preparing Ihe finanaal slalements, the Trustees are responslble for assesslng the Charity's ability to conb'nue
as a going concern. di5dosing, as applicable. matters related to golng conrn and uslng the going concèm basis
of accountlng unless the Trustees elther Intend lo Ilquldate th8 Charfty or to cea8e operations. or has no reallsllc
8llematNe but to do 80.
Our responsibilitles for the audit of the financial sL*•m•nts
We have been appnted as auditor under seclion 145 of the Charilres Act 2011 and report In acc¢rdance wlth the
Act and r818vant regulations mad8 or hang eff8Ct thereunder. Our objectives ar8 to obtain reasonable assurance
ab(wt whether the financlal stslements as a whole are free from matsrial mlsststemenl, whether due to fraud or
error, and to issue a Report of the Auditors that includes our opinion. Reasonable a5suranc8 is a high level of
assurance. but Is not a guarantse that an audlt conducted in accordance wlth ISAS IUKI will aayS dgtsGI
material misstslement when Tt exists. Misstatements can adse from fraud or error and are consldered materlal If.
individually or in the aggregate, they could reasonably be expected lo inlluence the economic decasions of users
taken on the basls of these financlal stalemenls.
A furlher d¢scrfplion ol our raspon$ibiliti6s for the audit of tha financial statements 1$ lttatsd on the Flnancial
Reportlng Coundl's Weble 8t www.frc.org.ukjaudllorPQnSibSl1te$. This description fc*m$ part of our Report of
th8 Audllors.
Use ol our audit rgPQrt
Thls report Is made solely to Ihe Chartty's Tnjstees. as a boty, In acccKdanc8 wlth Secvon 145 of the CharftTres
Act 2011 and the gUlationS made under Section 154 of that Act. Chjr audit worf( has baen undert8ken so that we
mlght stste to the Ch8rfty's Trustees thos& matters we ore required to slate to them in a Report of the Audilors
and for no other puse. To the fullest extent permltted by law, we do not accept or assume responslblllty lo
anyone other than the Charity and the Charitys Trusleey as 8 body, for our audit work, for Ihls report. or for the
oplnlons we have formed.
/JaJ LLf
Samuels LLP. Statutory Audltor
3 Lod(s Yard
High Str8et
Sevenoaks
Kent
TN13 1LT
Dale.. 131h Novembef 2023
page 7
## **WANSTEAD HOUSE COMMUNITY ASSOCIATION**
## **Statement of Financial Activities**
for the year ended 31 March 2023
|Notes
**Income and expenditure**
**Income from**
_Charitable activities:_
Other Grants
12
HMRC Job Retention Scheme Grants
Rents
Subscriptions
_Other trading activities:_
Bar/Cafe surplus
8
Sundry income
_Investment income:_
Interest received
**Total incoming resources**
**Expenditure on**
_Charitable activities:_
Costs of generating funds
9
Management and administration
9a
**Total resources expended**
**Net income**
**Reconciliation of Funds**
Total Funds brought forward
**Total Funds carried forward**
10|Year ended
31.03.23
Total funds
£
7,110
-
120,994
1,258
259
2,067
501
132,189
96,317
28,417
124,734
7,455
333,274
340,729|Year ended
31.03.22
Total funds
£
6,900
2,570
103,492
1,368
183
4,502
19
119,034
87,506
26,045
113,551
5,483
327,791
333,274|
|---|---|---|
All income and expenditure has arisen from continuing operations.
All funds are unrestricted funds.
The notes form part of these financial statements page 8
WANSTEAD HOUSE COMMUNITY ASSOCIATION
Balance •he&t
Al 31 March 2023
31.03.23
Totsl fvnd8
31.03.22
Tilal lund8
Not•$
Flx•d a•$•ti
T8TvJlblo asget8
93,672
116.680
Curr•nt a•••t•
Stock
Oebtors
Cath 81 bank and In hand
589
5,299
247,470
301
9,787
212.877
253,358
222,745
Llabllltlo•: Amwnta IlIng due
Ihln one year
8.301
6,151
N•t ¢urr•nt a•••ts
247,057
218,594
Total a•••t•10•8 curr•nl Ilabllrtl••
340,729
333 274
Th• fund• of th• Charfty
ilnr•#trlcl•d fu•M
De8ignaled funds
- Genarnl lundg
22,365
318,364
22,38S
310.909
10
Tot•1 fundj
340 729
333 274
Th• flnanclal statemant8 war8 approv1 by the Board of Tiu8t•a8 13 November 2023
and were Blgned on its b&half by..
Jon6t Fox Icholrnanl
The notas lom part of these flnanclal Btal8ments
page 9
## **WANSTEAD HOUSE COMMUNITY ASSOCIATION**
## **Notes to the financial statements**
for the year ended 31 March 2023
## **1. Accounting policies**
## **a) 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 2015)', Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland' EFA and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
## **b) 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.
## **c) Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the 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.
## **d) Tangible fixed assets**
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Office furniture and equipment 3 years Leasehold building improvements over the lease term
## **e) 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 impairement 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).
## **f) Stocks**
Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **g) Taxation**
The charity is exempt from tax on its charitable activities.
page 10
## **WANSTEAD HOUSE COMMUNITY ASSOCIATION**
## **Notes to the financial statements**
for the year ended 31 March 2023
## **1. Accounting policies**
## **h) Cash and cash equivalents**
Cash and cash equivalents are basic financial assets and 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.
## **i) 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.
## **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.
## **j) Judgements and key sources of estimation uncertainty**
In the application of the Charity's accounting policies, the members 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.
page 11
## **WANSTEAD HOUSE COMMUNITY ASSOCIATION**
## **Notes to the financial statements (continued)**
for the year ended 31 March 2023
## **1. Accounting policies**
## **k) 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 each fund is included in the notes to the financial statements.
## **l) Grants**
Income from grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
|||2023|2022|
|---|---|---|---|
|||£|£|
|**2. Tangible fixed assets**||||
|The following are included in the net book value of tangible fixed assets:||||
|Other furniture and equipment||3,467|4,081|
|Office furniture and equipment||763|1,317|
|Leasehold building improvements||89,442|111,282|
|||93,672|116,680|
|The movement in the period was as follows:||||
|**Cost**|Other
furniture/
equipment
£|Office
furniture/
equipment
£|Leasehold
building
improvements
£|
|Beginning of year|4,592|30,740|306,185|
|Additions|1,000|||
||5,592 0|30,740|306,185|
|**Depreciation/amortisation**||||
|Beginning of year|511|29,423|194,903|
|Charge|1,614|554|21,840|
|End of year|2,125|29,977|216,743|
|**Net book value**||||
|End of year|3,467 0|763|89,442|
page 12
## **WANSTEAD HOUSE COMMUNITY ASSOCIATION**
## **Notes to the financial statements (continued)**
for the year ended 31 March 2023
||2023|2022|
|---|---|---|
|**3. Stock**|||
|The following are included in the net book value of stock:|||
||£|£|
|Bar/café|589|301|
|The following are included in the net book value of stock:
Bar/café|£
£
589
301|
|---|---|
|**4. Debtors**||
|The following amounts are included in the net book value of debtors:||
|**Amounts falling due within one year:**||
|Trade debtors|£
£
3,034
6,577|
|Prepayments and other debtors|2,265
3,190|
||5,299
9,767|
|**5. Liabilities: amounts falling due within one year**||
|The following are included in liabilities falling due within one year:||
|VAT|£
£
135
168|
|Accruals|6,166
5,983|
||6,301
6,151|
|**6. Emoluments of employees**||
|The total emoluments for the year of the Charity's employees amounted to:||
|Wages & salaries|£
£
63,619
59,832|
|The average number of employees for the year was|8
8|
|No employees received emoluments in excess of £60,000.||
|One employee is a member of an auto-enrolment pension scheme. Employer|contributions for|
|the period were £344 (2022- £340).||
page 13
## **WANSTEAD HOUSE COMMUNITY ASSOCIATION**
## **Notes to the financial statements (continued)**
for the year ended 31 March 2023
## **7. Designated funds**
The Emergency Repairs Contingency Fund was set up with the intention of setting aside monies for unexpected future repair expenditure.
The Replacement windows fund was set up to set aside monies to replace the old windows. The first phase of window replacements started in April 2015.
|**Balance**
**01/04/2022**
**£**
Emergency Repairs Contingency
10,000
Replacement windows
12,365
22,365
**8. Bar/Cafe account**
Sales
Less: Cost of goods sold
Gross profit/(loss)
Wages
Surplus
**9. Costs of generating funds**
Staff costs
Depreciation/amortisation
Other running costs
Advertising
**9a. Management and administration**
Staff costs
Auditors' fee for audit services
Depreciation/amortisation
Other running costs|**New**
**(Utilised)**
**Balance**
**designations**
**31/03/2023**
**£**
**£**
**£**
-
-
10,000
-
-
12,365
-
-
22,365
2023
2022
£
£
7,723
5,739
3,489
2,041
4,234
3,698
3,975
3,515
259
183
£
£
47,991
45,325
19,206
18,665
27,671
22,192
1,449
1,324
96,317
87,506
£
£
11,998
11,331
4,700
4,500
4,801
4,666
6,918
5,548
28,417
26,045|
|---|---|
page 14
## **WANSTEAD HOUSE COMMUNITY ASSOCIATION**
## **Notes to the financial statements (continued)**
for the year ended 31 March 2023
## **10. Movement in Funds**
|General fund
**Designated funds**
Emergency Repairs
Replacement Windows
**Total Unrestricted Funds**|At 01.04.22
Net movement
in funds
At 31.03.23
£
£
£
310,909
7,455
318,364
310,909
7,455
318,364
10,000
-
10,000
12,365
-
12,365
22,365
-
22,365
333,274
7,455
340,729|
|---|---|
## **11. Related Party Disclosures**
There were no related party transactions for the year ended 31 March 2023 (2022 £Nil). The trustees did not receive any remuneration and no trustee expenses were incurred in the year ended 31 March 2023 (2022 £Nil).
## **12. Grants**
|Other grants comprised:|2023
2022
£
£|
|---|---|
|LBR Vision|£7,110
£6,900|
## **13. RIAE Income**
RIAE income of £Nil (2022- £10,000) is included within the rental income figure.
page 15
## **WANSTEAD HOUSE COMMUNITY ASSOCIATION**
## **General income and expenditure account**
for the year ended 31 March 2023
|**Income**
Room rental- ESOL & C/care
Other grants
HMRC Job Retention Scheme Grants
Interest received
Sundry income- donations
Subscriptions
Other rental income
Bar/Cafe account
**Expenditure**
Clerical salaries
Accountancy and audit
Payroll service
Office costs and rates
Light and heat
Caretakers' salaries
Cleaners' salaries
Pension costs
Cleaning materials
Repairs and decorations
Insurance
Amortisation- leasehold building improvements
Depreciation- office furniture & equipment
Depreciation- other furniture & equipment
Minor equipment
Telephone
Postage, stationery and printing
Advertising
General expenses
Irrecoverable VAT
**Surplus for the year**|£
£
-
7,110
-
501
2,067
1,258
120,994
259
132,189
25,425
5,560
520
3,961
15,150
28,572
5,647
344
1,243
2,774
2,081
21,840
554
1,614
-
1,646
160
1,449
3,444
2,750
124,734
7,455
2023|£
£
10,000
6,900
2,570
19
4,502
1,368
93,492
183
119,034
24,078
5,350
480
1,633
9,152
27,284
4,954
340
995
5,480
1,871
22,631
189
511
321
1,563
211
1,324
1,960
3,224
113,551
5,483
2022|
|---|---|---|
This page does not form part of the statutory financial statements page 16