NORTH WALSHAM COMMUNITY ASSOCIATION ANNUAL REPORT YEAR ENDED 31 MARCH 2023 REGISTERED CHARITY NUMBER: 304022
NORTH WALSHAM COMMUNITY A&80CIATION INDEX TO ACCOUNTS P* Legal and administrative infc¥malion Report of the Trustees Report of the Independent Examiners Consolidated ststsmenl cl financial ath"vities Consolidated balan sheet Note5 to thg accrjunts 8-14 Management infomiation 15
NORTH WALStrIAM COMMUNITY ASsocn0N Legal and Admlnl8trnttvè Informallon The assoaalion is regist6r*d wth the Charity Commission (registration number 304022). It is managed by an 6xacuiive ¢ommitt88 of trustees who are eletxed by the m8mbers of the assoc4ation. Addrn of Charfty North Walsham Community Centre New Road North W81sham Norfolk NR28 9DE TN•l•es and Membern of the Ex•Gutlve Commlttoo who h•ld office durtng Ihe year: Ctlairman MrCAJeary Honorary Secrgtary Mrs A Hudson Members Mr R Oakley Mrs E Taylor Mr C Titmuss Mr M Kirby
NORTH WALSHAM COMMUNITY ASSOCIATION L•gal and admlnlstratlve d•tall8 continued B•nkern HSBC 18 London Street Norwi Norfolk NR21LG Solldtorn Han5ells Canada House 4 Grammar School Road North Walsham Norfolk NR28 9JH Indèpendent Examln•r MrAHart H & M Accountancy solub.ons Nelson House, 13 Mundesley Road North Walsham Norfolk NR28 ODA
NORTH WALSHAM COMMUNITY ASSOCIATION REPORT OF THE TRUSTEES AND EXECUTIVE COMMITTEE FINANCIAL YEAR ENDED 31 PAARCH 2023 The Iruslees, who are also membèrs of the eX¢tive commitleo (managing l)odyl, submit thgir annual report and finanaal slaiem8n15 for the year ended 31 March 2023. Governlng document The tharily is gov9rned by a cx)nstitubon dated S July 19718monded 7 July 1998. conlIdatIOn of flnanclal statemerts The finanaal stslements of the assoaalion for the year 1 April 2022 to 31 March 2023 have been prepared in aecordancg with the accounting poliLies set out in notes lo the financial $latemenls and eomply with the chanty's goveming document, thé Charities Act 2011 Accounting and Reporting by Charities.. Slalement of R8mMended Pradice applicabl8 lo charities pr8panng their aco)4Mts in accordanc% wrth the Finanoal Rep¢Yting Stsndard applicabl8 in the UK and Republic of Ireland IFRS1021 leffe(Ibve 1 January 2015). Consolidated financial slalements are required to help provide tru8 and fair ov8rall view of the affairs and acivilies of the assouats'on and its subsidiary company, North Walsharn Communily Centre Limited. The directors of the subsHIAry company are assoaation nominees and the company donates the nel proffts ansing from Its trading a¢Xwities to the association. Objectlyes of the as8¢xlatlon The assoaation owns, maintains and manages for public benefft, the North Walsham Communrty Centre lo provide megling faalilies to the local cL)mmunily for a wide range of education, sooal w•Karg, rgcreation and leisure aclivilies. The fecililies range from a large thoatre lo small meeting rooms and indude fully equipped kilGens and tsyo bars. Achlevemont8 and rrOnanCe Foll¢)wng an uncertain year, hirings have eallY radu¢ed. Wlh the ts)n5tanl incT8ases in energy ¢osts which has more than doubled, the ina$• in hiring prices Fer room has not ccver&l this increase. Rgpairs and m8intenance have been kgpt to a Sow level with only essentl81 works being carrigd out. Despite a r8¢uced number of bars, bar profil for the year has helped fill some of the a580ciation's shortfall. Nevertheless, a short fall of £40,C(JO hag beèn m8d# this yaar. Flnanclal revlgw The Consolidated Statement of Financial Activities for the year is set out on page 6. The total incoming resources amounted lo £79,515 {2022 £87,235) and, after dedu¢ling the lolal resources exwnded of £119,594 (2022 £78,61, therg net {OLrtgoingl l incomifwJ resources of {£40,0791 12022 £8,729). At1£40,0791, the net result for the year ended 31 March 2023 is d¢ywn by £48,808. The nel ing)ming resources have been added lo the Cor011dat8d funds lo18ave a balance at 31 March 2023 of £232,66312022 £272.7421, which the Committee bglieve to be a sabsfadory stal8 of affairs. ReBerves pollcy 11 1$ the policy of the charity lo maintain unrestrictad raservgs to u)ver exFenditure for a rI00 of 12 months. Rl8k management The charity monitors its risk on an ongoing ba&s and has ensured that both p)IiLies and funding lo miligale those risks wll b8 met dunng the finarKial year 2023124.
NORTH WALSHAM COMMUNITY ASSOCIATION Report of the tNst•o• and •x•cutlvo commltte• Ix)ntinued Intemal risks are minimised by the implementation of authorisation and checknng procedures covering all transactions undertaken and monitoring procedures lo engjre cL)nsslenl and quality delivery of the servi{$ providwj by the fttre. Tho trusle8s regularty review these pr(deS lo SUre that they rneel the needs of tha cfiarity. Publlc benefft statemgnt The Trustees eonfirm that they havg complied with the duty in section 17 of the Charities Ad 2011 to have ¢Jue regard lo public benefit guidan published by th8 Commisson. Flxèd assèts Datails of fixed ass•ls are as Set wt in nota 7 to th8 a¢counts. Gov•rnanc• and Intemil control Charity law requires the Iruslees lo prepare finants81 statements lor eath flnanctal year thd7 give truè and fair view of the stale of affairs of the tharity and of the surplus or dgfiril of the thanty for that year. In preparing those financial stalements, the trustees hav6.. selected suitable accounting poliaes and then applied them conststgnuy; observe the methods and prinoples In the applicable Charities SORP- made jLKlgements and estimate$ that are reasonable and pnJdent', stated whether applicable accountsng standards have been followed, suty'ect to any m8tsd81 departures disdosad an¢J explained in the financial slalements,. and prepared the finanaal ststements on the going corThm ba51S. The Iruslees have overall responsibility for ensuring that the charity has appropri018 Systems of controls, finanaal and olherwse. They are also responsible fcf keeping proper accounb'ng records which disdose wth reasonable 8¢curacy at any ts'me th9 finanryal position of the carity and ènable Ihgm to ensure that the financAal statements o)mply the Charities Act 2011. They are also responsible for safeguarding the assets of the thanty and hencè for ta.ng reasonable steps for the PreV.0n and deteclion of fraud and other irr8gu18nb"8s. The Trusteos who served during the year and up lo the date ofthis report set out on pag6 1. Trustees have full deoslon making rg¥)onsibility and meet regularfy. Appolntment of Trust¢es The Trustegs are ele(ed by th6 mombers of the general committee at the Annual Gerts1 M•oting. Additionally, the Trustees may oJ-OPt further individuals as Trustses, which also hav8 to be approved by the members of the general mMIttee. This r6portwasapproved bythelnJstaesef*........................... Mr C Jeary CHAIRMAN
NORTh WALSHAM COMMUNITY ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES AND EXECUTIVE COMMITTEE I report to the tharity trustees on my 8xaminalion of the ac£wts of tho tharity for the year 8nded 31 March 2023 whi¢h are set t1 on pages 6 10 14. ReSpOlbIlItIeS and bas18 of rnport As the charity's trustees you ar? responsble for the pyeparation of the acuunts in aC)rdanI th t reqU1MentS of the Charitres Act 2011 I'the Act'i. I report in respecl of my examination of the tharity's acojunls carried out undgr section 145 of the A and in carrying out my examination I have followed all the applicable Directions given by the Chanty Commi8&on undw section 145151{bl of the Acl Indewndent examlno¢8 8tatem•nt I have completed my examinafjon. I cfjnfirm that no material matters have como to my attention in onnertion with the exarninats'on giving me cause lo believe that in any material respect.. accounting records were not kept In respect of Iha charity a$ rffjuired by sects'on 130 of the Ac#: or 2. the accounts do not accord with those rewrd$,' or 3. the aco)unts do not comply wlh the applicable requirements c>)nceming the form and CA)nlenl of accounts S81 out in the Charits'es (Accounts and Reports) Regulations 2Cx)8 other than any requirement that the accounts give a'tnje and fair view which is not 8 m8tter ¢x)nsSdered as part of an ind8p8ndenl examination. I have no oJnc8rns and have me across no other rnatters in connection with the exominalion to which attention Should be drawn in this report in order to enable a 0per understanding of the accounts lo be reache¢J. MrAHart H & M AcLL)unlancy Solutions Nelson House, 13 Mundosley Road North W8lsh#m Norfolk NR28 ODA Data..
NORTH WALSHAM COMMUNITY ASSOCIATION CONSOLIDATED STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 MARCH 2023 Unr••trlcted Re¥trlctod Total 2023 Total 2022 Note8 Incomlng r•source• Actlvltles to fUrtr th• Charlty, obl•cts: Hire charges Contribution lo Ilght & heal Subscriptions Govemmenl grants Other grant incorne Other Actlvltles ftx generatlng funth: Fundraising Interest received Trading subsidiary incx)me Quasi subsidiary income 41,&S8 41,&88 53,369 957 1B,239 1,143 211 35,910 1,826 211 35,910 1,826 12,343 1,184 Total Incomlng rnsourc88 79.616 79,81S 87,236 Resources expgnded Cost of actlvllles In furthern of the Charltl•s obl¢¢t•: Wages and salories Premises St$ General chanty expendrture Costs of generatlng funds: Trading subsdiary expenditure Wages Other costs Gov¢mancfj costs: Professional fges PholoD)pies & postaga 36,138 54,425 1,934 36,138 54,425 1,934 27,324 33,876 1,572 10,530 12,425 10,530 12,425 6,503 4,071 4.142 4,142 5,160 Total rnBource$ exponded 119.594 119,594 78.606 Nèt (outgolng) I Incomlng 140.079) {40,079) 8.729 Fund balances brought foThv8rd 1 April 2022 272,742 272,742 264,013 232.663 232,663 272,742 Transfers Fund balanca$ (xrried fOard 31 March 2023 232,663 232,663 272,742 The notes set out on pages B 10 14 form an intggral part of these accounts
NORTH WALSHAM COMMUNITY A&%ICIATION CON80UDATED BALANCE SHEET 31 MARCH 2023 Consolldatgd 2023 2022 As•oclatlon 2023 2022 Nots8 Flxed is•ets Tangible assets Investments 113.379 135,837 113.379 135.837 113,379 135.837 113,382 135,841 Current as¥ot• Slod( Debtors Premium Bond N8tion81 Savings InvlMent Account Nation81 Savings Income Bonds Bank and Building Sooety balan¢8 Cash in hand 1.957 11,472 50 23,195 10 3,239 21.113 15,011 23,195 23,195 23,195 16,0 76.015 16,CAX¢ 16,OC 53,226 18,O¢X) 77.818 2,497 1.693 129 123.540 141.175 114,472 132,203 Crgdltorn: Amounts falllng duo wlthln one year 4.256 4,270 4,256 4,258 N•t ¢urrnnt aBsds 119,284 136.S¥)5 110,216 127,945 Tot•1 ngt 1S30ts 232,663 272.742 223.598 283.786 Funds Unrestricted funds.. General funds Restn'cted funds Designated funds 12 13 13 145,381 185,569 142,381 182,9 87,282 87,173 81,217 81,217 232.663 272,742 223.598 263,786 5 ....%<er<mlW.2L)2 These accounts Vre approv&J by thè Executive Committee on......... For and on behalf of tha Execub've Committee Ch8iman'. Jeary The noto$ set OLrt on pages 8 to 14 form an integral part of these accounts
NORTH WALSHAM COMMUNITY A880CIAmON NOTE8 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 1. Accountlng pollcl•s Bas18 of preparatlon The accounts have been prepared undor thg historical cost convention with items recognised al cost or Ir8nsaL#ion value unless otherwse slated in the relevant notes to these accounts. Thg finanaal ststements have teen prepared in 8ccord8nce with Attounting and Reporting ty Charities". Stslement of Recommended Practs. appli¢able lo charities preparing their atxounts in ar£Ordan th& Financial Reporting Stsndard applicable in the UK and Republic of Ireland issued in October 2019, the FSnana81 Reporbng Standard appli¢able in the Unrted lQ"ngdom and Republic of Ireland IFRS 10218nd the Charities Act 2011. The financgal slal8m8nls c£)nsolidale as 8 group undertaking the alntS of North Walsham Community Centre Limited, the shares of which are held for the benefit of the Assoryalion, and the accounts of the Friends of North Walsham Community Assooation %thich is deemed lo be a quasi-9jb'ary. The charity constitutes a public benefft enlity 88 deflned by FRS 102. (b Incomlng re¥ourc8s Income from operating activitiès in furtherance of the charity's objecis is IndUd in th8 pwiod in whith the chanty is entiued lo receipt. Grnnts and donatlons Gr8nls and don81ions, induding grants for the purchase of fixed as59ts, are reCognd in full in tho Statement of Financial Ath'vilies in the year they are recaivoblo. (d Gtlts In klnd Non mongtary assgts grftwj to the company for a sp8ryfic projecl are caprtallsed, placed into a restricted fijnd and written off over their estimatèd use1 lives. {0) Voluntary h•lp There is a sgnfficanl level of support received by way of voluntary help. This unpaid assistance is not quanlrfiable and does not appear on the Statsment of Finanaal ActiMties. ROsou•S expendety Resources gxpgnded are reojgnised in t peri¢)d in which they ar8 inojrred. Tar4Jlble Ilxed &u•ts Individual fixed assets are eaptalised at eosl or trustee's val{lOn If gifted. Dgpreaation is thargéd at the followThJ rates". Leasehold property Fixtures, fittings and eqPment Over period of lease 4- 20% straight line Slwks are stated at the lower of cost and net redlsable valug.
NORTH WALSHAM COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcle• contlnu•d Fund accountlng Funds held by tho charity are ther. Unrestricted general funds-lttese are ftjnds which cn bè used in accordance 1 the charitsble objects al the discretion of the trustees. Desgnated fuThJs 4hese ar8 funds $el aside by tho tru5tges out of unrestricted general funds for specrfic fijlure purposes or projecls. Restricted funos -those 8r& funds that can only be used for speafic purposes as laid down by the donor. Expenditure whith meets these teria is tharged to the fijnd, together th a fair allorb"on of the management and SLPWt costs. Further explanats'ons of the nature and purpose of 8h fijnd is induded In the notes to tr financ#al $lalements. Taxatlon Ttte assouation is a registored thanty and accx)rdingly is exempl from taxation on its irtomo and gains wher6 they arg applied for charitable purposes.
NORTH WALSHAM COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 2. Tradlng subsldlary Income and expendlturn The trading yjbsidiary North Walsham Communty Centre Limrted Icomparry Number. 023714521, manages the bar faciliti8$. 11 donates its profits 10 tho As%xyatioft. Trading rosults extracted from ils a¢xounts to 31 March 2023 are shown below.. 2023 2022 Tumover Less.. Cost of sales 35,910 21,742 12,343 3,782 Gross profft Administration expens88 14,168 1.213 8,S81 6,792 Operating profil Donations received 12.955 1,769 Net profil for thé year Donation to North Walsham Community Assodalion 12,955 {12.9551 1.769 {1,769} Amounl rglalned for the year 3. Quisl.subsldlary Income and èxpendltur• The quasi-subsidiary, Fnends of North Walsh8m Community Association. organises fvndraising events and donates its profits to the Asswation. Results oxtr8cled from its accounts to 31 Marth 2023 are shown below". 2023 2022 Fundraising inc#)me Cost of fundraising activities 1,184 1,433 1,717 Surplus {Dgfiatl for the year 1249) Balance 1 April 2022 Recapls from North Walsham Communty Asswation Payments lo North Walsham Community Asswalion Balance 31 Marth 2023 5,956 6,205 6,C65 5,956 10
NORTH WALSHAM COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 4. N•t outgolng re•ource8 Not outgoing resources is Ststed after charging.. 2023 2022 Depreciab"on and amortisaliorl of owned asselg 24,810 11.811 S. T¢)tal resourc08 expendgd Govemanc• co•ts Deprn¢latJ¢)n other Totsl Dlrect charitabl• exnd1Jre'. W8g6s and salari98 Premises costs 36.138 36,138 54,425 24,810 24,810 29,615 29.615 36,138 Other expgnditure.. Trading expenditure General chanty eXnditre Independent examination f8• Other finano'al seryices 22,955 1,934 22,955 1,934 1,5C(s 2,fj42 4,142 36.138 24,810 54,504 119,594 6. &aff costs 2023 2022 Wages and salaries Swal Seojrity costs Pens1 costs Employment Allcwance 33,979 3,359 889 {2.089) 26,493 2,239 831 12,239) 36.138 27.324 The average numbw of 6mploy8es for the charity was: No employee received totsl aM0Yea barfItS of m¢xe than £60,C. 11
NORTh WAL8HAM COMMUNITY sOcIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 7. Tanglble flxed auets Comolldated & A88oclatlon Loasohold Flxturns. property ffttlngs & •qulpment Total Cost 1 April 2022 Additions 217,359 169,241 2,352 2,352 31 March 2023 217,359 171,593 3&9,952 D•preclatlon 1 Apnl 2022 Charg8 for the year 31 March 2023 108,817 19,099 141,946 5,711 2,763 24,810 127,916 147,657 275,573 Net book amount 31 March 2023 89.443 23,936 113,379 31 March 2022 108,543 27,295 135,837 8. Flx•d ass•ts Investment• Con8olldat8d 1023 2022 As80clatlon 2023 2022 Cost al 31 March 2023 North Walsham Community Centre Limited Ordinary shares of £1 each lincorporaled in England) 9. Stock Con8olld•tsd 2023 2022 A•socl•tlon 2023 2022 Bar $loc for resale 1,957 12
NORTH WALSHAM COMMUNITY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 10. Dobtorn Consolklat•d 2023 2022 Assoclatlon 2023 2022 Trade debtors Prepayments and acrnJ8d inco Other debtors 3,239 8,743 2,729 3,239 8.743 2,729 3,539 17,874 3,239 11,472 21,113 15,011 11. Crndltors Consolld•ted 2023 2022 A••ocl4tlon 2023 2022 Trade credrtors Accruals and d8f8rred InMe Othgr cfedilors 19551 2,676 2,549 19551 2,3(YJ 1,9S6 1,9s6 2.549 4,256 4,270 4,2S8 4,258 12. An•ly$l¥ of net assets botween funds Genernl Fund¥ R•strfcted Funds De8lgnai•d Fun Total Funds Tangiblè fixed assets Investments cu0n1 assets Current liabilities 113,379 113,379 36,258 14,2SfjI 145,381 87,282 123,540 14,2561 87,282 232,e63 13
NORTH WALSHAM COMMUNifi s0ClATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 13. Statemont of funds At 1 Aprfl 2022 Incomlng R•#ourco <Xrtgolng Resources Transfer At31 March 2023 Unre•trlct•d fd8. General fund Deslgnated funds: Lobby improvements fund Fumiture replac8ment lund Easement fund Roof repair fvnd Contingenaes reseNe Repairs and improvement reserve 185,9 77,688 {117.8761 145,381 15,0 15,( 10,0 10.C(K) 500 15,OC 40,717 5.956 15,CKQ 40,717 11,7171 Total fund• 272,742 79,514 (119,5931 232,663 Purp)ses of designated fijnds.. The cnnlingencies reserve compn.ses moniès sel aside for emerggnctos. The repairs and improvomenls reserve represents th8 monies IrrentlY held by the Friends of North Walsham Community Asswatson for general improvements lo the Lnlre. In 2018 tho TnJ$le05 deemed it appropriate to designate funds to various a8$ of the eèntre whith are in need of improvements. Tho Trustees designated the foll¢)wng from General Funds.. Lobby improvements fund £15,OCX) Fumiture reacement fund £10,OiXJ E8gemenl fvnd £5 Roof repair fund £15,OCQ 14. Rèlatèd party transactlons Certain Trustees r1Ved approved remuneration and expenses for services providod lo the Assooation in additK)n lo their dub'es as Trustees. The amounts paid wère as foll¢)ws.' 2023 2022 Mr C Jeary Mrs A Hudson 1.930 533 122 27 14
NORTH WALSHAM COMMUNITY ASSOCIATION MANAGEMENT INFORMATION FOR THE YEAR ENDED 31 MARCH 2023 The infomation set out on page 15 does not fom part of the r8PQrt and financ>al statements
NORTH WALSHAM COMMUNifi ASSOCIATION MANAGEMENT INFORMATION INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Income Hiro Charges Contributions lo light & heat Subscriptions Interest received Miscell8neou$ Income Fundraisng Govemment grants Other grants North W81sham Community Centre Ltd.. Management d)argg Donation 43.394 54,553 957 211 1,143 18,239 12,955 1,769 76,e61 Lè88 Expondtture Wag@$ and salartes {inc dirèd costs) 37,402 27,324 Prnmlse• Cleaning Light, heal and water Rent and rates Repairs. renewals and maintenance Insurance Dgprgaation Olfixturès and fith.ngs Amorts'sation of le858tK)Id property 1,118 14,146 1,319 5,425 2,211 5,256 674 10,316 6,342 5,711 19 099 3,808 6,638 Manag•mènt and admlnl•¢ratlon Telephone and inlemot Printing, postag8, Stationery & 8dvertS Office equipment maintanance Li¢en¢es Professional tses Sundry expenses Bank tharges 417 139 425 154 5,160 122 70 272 4,142 419 142 6,077 6,732 ILOMI Profft fortho yMr 140,079) 8,729 15