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 ASsoc￿n0N 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. con￿lIdatIOn 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 $latemenls and eomply with the chanty's goveming document, thé Charities Act 2011 Accounting and Reporting by Charities.. Slalement of R8￿mMended Pradice applicabl8 lo charities pr8panng their aco)4Mts in accordanc% wrth the Finanoal Rep¢Yting Stsndard applicabl8 in the UK and Republic of Ireland IFRS1021 leffe(Ibve 1 January 2015). Consolidated financial slalements are required to help provide tru8 and fair ov8rall view of the affairs and ac*ivilies of the assouats'on and its subsidiary company, North Walsharn Communily Centre Limited. The directors of the subsHIAry company are assoaation nominees and the company donates the nel proffts ansing from Its trading a¢Xwities to the association. Objectlyes of the as8¢xlatlon The assoaation owns, maintains and manages for public benefft, the North Walsham Communrty Centre lo provide megling faalilies to the local cL)mmunily for a wide range of education, sooal w•Karg, rgcreation and leisure aclivilies. The fecililies range from a large thoatre lo small meeting rooms and indude fully equipped kilG*ens and tsyo bars. Achlevemont8 and ￿rrO￿nanCe Foll¢)wng an uncertain year, hirings have ￿eallY radu¢ed. Wlh the ts)n5tanl incT8ases in energy ¢osts which has more than doubled, the in￿a$• 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 £78,6￿1, 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 Cor￿011dat8d 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(￿d￿eS 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 c*arity 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 Ger￿ts1 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 t￿1 on pages 6 10 14. ReSpO￿lbIlItIeS and bas18 of rnport As the charity's trustees you ar? responsble for the pyeparation of the acuunts in aC￿)rdanI￿ ￿th t￿ reqU1￿MentS 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$,' or 3. the aco)unts do not comply wlh the applicable requirements c>)nceming the form and CA)nlenl of accounts S81 out in the Charits'es (Accounts and Reports) Regulations 2Cx)8 other than any requirement that the accounts give a'tnje and fair view which is not 8 m8tter ¢x)nsSdered as part of an ind8p8ndenl examination. I have no oJnc8rns and have ￿me across no other rnatters in connection with the exominalion to which attention Should be drawn in this report in order to enable a ￿0per understanding of the accounts lo be reache¢J. MrAHart H & M AcLL)unlancy Solutions Nelson House, 13 Mundosley Road North W8lsh#m Norfolk NR28 ODA Data.. NORTH WALSHAM COMMUNITY ASSOCIATION CONSOLIDATED STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 MARCH 2023 Unr••trlcted Re¥trlctod Total 2023 Total 2022 Note8 Incomlng r•source• Actlvltles to fUrt￿r th• Charlty, obl•cts: Hire charges Contribution lo Ilght & heal Subscriptions Govemmenl grants Other grant incorne Other Actlvltles ftx generatlng funth: Fundraising Interest received Trading subsidiary incx)me Quasi subsidiary income 41,&S8 41,&88 53,369 957 1B,239 1,143 211 35,910 1,826 211 35,910 1,826 12,343 1,184 Total Incomlng rnsourc88 79.616 79,81S 87,236 Resources expgnded Cost of actlvllles In furthern￿￿ of the Charltl•s obl¢¢t•: Wages and salories Premises ￿St$ 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 fO￿ard 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 Inv￿lMent 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 ....%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