## **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** **The MGroup Partnership Chartered Certified Accountants Registered Auditors Cranbrook House 287-291 Banbury Road, Oxford OX2 7JQ** **Registered Charity Number: 304344** **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** |**CONTENTS**|**PAGES**| |---|---| |Charity information|1| |Trustees' report|2 to 4| |Auditor's report|5 to 8| |Statement of financial activities|9| |Balance sheet|10| |Notes to the financial statements|11 to 18| |**The following page does not form part of the financial statements**|| |Detailed income and expenditure account|19| **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **CHARITY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2022** ## **MANAGEMENT COMMITTEE** D Telahun C Hibbins - Chairman R Shelton L Palfreeman E Corbett G Hibbins P Elliott ## **SECRETARY** G Bellinger ## **REGISTERED OFFICE** Dora Carr Close Headington Oxford OX3 9RU ## **CHARITY REGISTRATION NUMBER** 304344 ## **AUDITORS** The MGroup Partnership Chartered Certified Accountants Cranbrook House 287-291 Banbury Road Oxford OX2 7JQ ## **BANKERS** Barclays Bank Plc Leicester LE87 2BB - 1 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** The Trustees present their annual report with the financial statements of the charity for the year ended 31 December 2022. ## **TRUSTEES** The following Trustees served on the Management Committee during the year:- D Telahun C Hibbins - Chairman R Shelton L Palfreeman E Corbett G Hibbins P Elliott The Management Committee aim to meet at least quarterly to discuss the charity's affairs. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **GOVERNING DOCUMENT** Northway District Community Association is a registered charity (Registration Number 304344) and is governed by a Deed of Trust. ## **APPOINTMENT OF MANAGEMENT COMMITTEE MEMBERS** Management Committee members are elected or appointed on an annual basis, with officers being elected from the membership of the Management Committee. All members of the Management Committee are trustees. ## **REFERENCE AND ADMINISTRATIVE DETAILS** The principal office of Northway District Community Association or Northway Community Association (working name) is: Dora Carr Close Headington Oxford OX3 9RU ## **RISK MANAGEMENT** The Trustees examine the major risks that the charity faces each year when preparing and updating the development plan. The risk management strategy comprises: - an annual review of the risks the charity may face; - the establishment of systems and procedures to mitigate those risks identified in the plan; and - the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. - 2 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** ## **OBJECTIVES AND ACTIVITIES** The object of the charity continues to be the enhancement of community life for the inhabitants of Northway and surrounding neighbourhood, by providing communal facilities and promoting community projects of a charitable nature. The community centre is available for hire by any individual or organisation in accordance with the standard hiring agreement and scale of charges adopted for the year. It is intended that the scale of charges be sufficient to generate enough income to meet all expenditure incurred in providing the centre's facilities. Community projects are funded by specific appeals, fundraising and grants. The charity is organised as an independent association of local residents with a Management Committee comprising elected and nominated members. Activities include the provision of the community centre as a permanent community facility and a variety of community projects as funds permit from time to time. ## **PUBLIC BENEFIT** The Trustees are mindful of the need to satisfy the Charities Commission with regard to Public Benefit and will continue to ensure wider social access. ## **ACHIEVEMENTS AND PERFORMANCE** The current UK financial climate has impacted the Community Centre, specifically resulting in increased energy costs, although, in 2022, there has been an increase in activity and hiring. The Association has continued to support the community by offering activity providers the community centre's facilities. In addition, support has been provided to the Northway Social Club Ltd with a flexible payment plan for the occupation licence and greatly subsidised hire charges. The Association has offered subsidised and free use of facilities to help startup groups when possible. Table tennis classes are a fine example of the support to help a new group get established. Support has also been provided to Parasol and NorthwayTogether activities as well as building partnerships with Marston Community Gardening and Age UK Tea Books clubs. The Association will continue to support groups and users and organise events to help the community projects. ## **FINANCIAL REVIEW** The attached financial statements show the current state of the finances which the Management Committee consider to be satisfactory. Income has increased on the previous year. With total overheads similar to the previous year, this has resulted in a surplus for the year. If Northway Social Club Limited make a profit in the year, under the covenant agreement this is to be donated to the charity. However, Northway Social Club has accumulated losses in recent years and therefore no donation is due for 2022. The balance shown on unrestricted income funds amounted to £288,459. It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately 24 months unrestricted expenditure. This provides sufficient funds to cover the ongoing provision of centre facilities, together with the associated support and administration costs, thereby ensuring the continuity of the communal facilities and the promotion of community projects as they arise from time to time. - 3 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the applicable Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards and the Charities SORP have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - there is no relevant audit information of which the charity’s auditor is unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. ## **AUDITORS** The auditors, The MGroup Partnership, have expressed their willingness to continue in office, and a resolution will be put to the Management Committee at the forthcoming Annual General Meeting. ## **SIGNED ON BEHALF OF THE MANAGEMENT COMMITTEE** C Hibbins Chairman Date approved by the Committee: 28 March 2023 - 4 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** ## **TO THE TRUSTEES OF NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **OPINION** We have audited the financial statements of Northway District Community Association for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, and the related notes including a summary of significant accounting policies. 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 December 2022; and of its incoming resources and application of resources 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 auditor's 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 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** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Cont…/ - 5 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** **INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** /….2 ## **OTHER INFORMATION** The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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** In light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Annual Report. We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion: - the information given in the Trustees' Annual Report is inconsistent in any material respect with the financial statements; or - adequate accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. ## **RESPONSIBILITIES OF THE TRUSTEES** As explained more fully in the trustees' responsibilities statement set out on page 4, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Cont…/ - 6 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** /….3 ## **OUR RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISA's (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows - The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; - we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the rental sector and charitable organisations; - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: - Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; - reviewed the accounting software to identify all payments made to related parties, to ensure all were disclosed; and - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. Cont…/ - 7 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** /….4 - To address the risk of fraud through management bias and override of controls, we: - Performed analytical procedures to identify any unusual or unexpected relationships; and - tested all manual journal entries made in the accounting software to identify unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - Agreeing financial statement disclosures to underlying supporting documentation; - reading the minutes of meetings of those charged with governance; and - enquiring of management as to actual and potential litigation and claims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. ## **USE OF OUR REPORT** This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity's trustees as a body, for our audit work, for this report, or for the opinion we have formed. P M Casterton (Senior Statutory Auditor) For and on behalf of ## **THE MGROUP PARTNERSHIP STATUTORY AUDITOR** Cranbrook House 287-291 Banbury Road Oxford OX2 7JQ 30 March 2023 - 8 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE) FOR THE YEAR ENDED 31 DECEMBER 2022** **----- Start of picture text -----**
Notes Unrestricted Restricted Total Total
Funds Funds Funds 2022 Funds 2021
£ £ £ £
INCOMING RESOURCES
Charitable activities
Activities to further the charity's
objects 4 135,381 - 135,381 122,499
Generated funds
Other activities - - - -
Interest receivable 334 - 334 24
Donations - rental discount 172,000 172,000 172,000
Total incoming resources 307,715 - 307,715 294,523
RESOURCES EXPENDED
Costs of other activities - - - -
Charitable activities 5 249,239 63 249,302 235,189
Governance costs 6 7,723 - 7,723 7,008
Total resources expended 256,962 63 257,025 242,197
Net income / (expenditure) 50,753 (63) 50,690 52,326
Net movement in funds for the year 50,753 (63) 50,690 52,326
Total funds at brought forward 237,706 11,936 249,642 197,316
Total funds at carried forward 14 288,459 11,873 300,332 249,642
**----- End of picture text -----**
The Statement of Financial Activities includes all gains and losses in the year. All incoming resources expended derive from continuing activities. - 9 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **BALANCE SHEET AS AT 31 DECEMBER 2022** **----- Start of picture text -----**
Notes 2022 2021
£ £
FIXED ASSETS
Tangible assets 10 13,789 16,205
CURRENT ASSETS
Debtors 11 12,788 52,832
Cash at bank and in hand 384,225 272,989
397,013 325,821
CREDITORS : Amounts falling due 12 110,470 92,384
within one year
NET CURRENT ASSETS 286,543 233,437
TOTAL NET ASSETS 300,332 249,642
FUNDS
Restricted 11,873 11,936
Unrestricted 288,459 237,706
TOTAL FUNDS 14 300,332 249,642
**----- End of picture text -----**
These accounts were approved by the Trustees on 28 March 2023 and signed on its behalf by the following: |L Palfreeman|C Hibbins| |---|---| |Trustee|Trustee| - 10 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **1 GENERAL INFORMATION** Northway District Community Association is a registered charity in England and Wales. Its registered office and principal place of business is: Dora Carr Close Headington Oxford OX3 9RU The financial statements are presented in Sterling, which is the functional currency of the charity. ## **2 STATEMENT OF ACCOUNTING POLICIES** ## **Accounting convention** The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The following is a summary of the significant accounting policies adopted by the charity in the preparation of the financial statements. Northway District Community Association is a public benefit entity. ## **Cash flow statement** The accounts do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement in accordance with FRS 102. ## **Going concern** The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. - 11 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **2 STATEMENT OF ACCOUNTING POLICIES - continued** ## **Incoming resources** Activities to further the charities objectives are measured at the fair value of consideration received or receivable. They are recognised in respect of hall hire services and rental income as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax. Interest receivable comprises interest received on cash balances held in appropriate interest bearing deposits. Other income is made up of sales of food and drink at the lunch club and the coffee morning. Grant income is recognised based on the performance model where conditions are attached to the entitlement of the grant income. Otherwise they are recognised on receipt of the grant income. The company received grant income in the year of NIL (2021 - £15,851) via the Retail, Hospitality and Leisure Grant Fund, the Local Restriction Support Grant, and rates reliefs. ## **Resources expended** Resources expended are included in the Statement of Financial Activities on an accruals basis, exclusive of VAT. Governance costs include the costs of governance arrangements which relate to the general running of the charity as opposed to the direct management functions inherent in generating funds to achieve the charity's charitable objectives. ## **Tangible fixed assets** Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses. Depreciation has been provided at the following rates so as to write off the write off the cost or valuation of the assets less their residual value over their estimated useful lives. Fixtures and equipment Straight line basis over fifteen years Office equipment Straight line basis over five years On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses. ## **Trade and other debtors** Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost, less any impairment. - 12 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **2 STATEMENT OF ACCOUNTING POLICIES - continued** ## **Trade and other creditors** Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost. ## **Leases** Payments received under operating leases are recognised as income over the lease term on a straight-line basis. ## **Financial instruments** The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## **Fund accounting** Funds held by the charity are either: **Unrestricted general funds** - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees. **Designated funds** - these are funds that are set aside by the trustees out of unrestricted general funds for specific future purposes or projects. **Restricted funds** - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when the funds are raised for particular restricted purposes. - 13 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS** A significant accounting estimate has been made by the Management Committee in respect of the donation income of £172,000. This relates to the premises that is donated to the charity where no rent is payable. The Management Committee deem this to be a reasonable estimate for the market rate of rent that would be payable to a third party. ## **4 INCOMING RESOURCES FROM ACTIVITIES TO FURTHER THE CHARITY'S OBJECTS** ## **5** |**Unrestricted income:**
Hall and room lettings
Discounts given on room lettings
Occupation licence
Bad debt provision
Rent
Government grant
**CHARITABLE ACTIVITIES**
**Unrestricted expenditure**
**Provision of centre facilities:**
Consultancy fees
Rent
Heat and light
Burglar alarm and entry system
Annual maintenance
Repairs
General rates
Insurance
Cleaning
Sundry expenses
Expenses to support community events
Legal and professional fees
Depreciation
**Restricted expenditure:**
Depreciation
Sinking fund|**2022**
**£**
46,166
(5,044)
30,000
1,259
63,000
-
135,381
**2022**
**£**
20,603
172,000
15,857
1,565
1,000
25
3,344
2,105
12,809
128
14,975
-
1,950
2,878
249,239
63
249,302|**2021**
**£**
18,297
(2,499)
30,000
(2,150)
63,000
15,851
122,499
**2021**
**£**
17,000
172,000
7,963
1,325
1,000
462
1,667
2,109
11,557
112
13,743
1,591
-
3,537
234,066
1,123
235,189| |---|---|---| - 14 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **6 GOVERNANCE COSTS** |Printing, postage, stationery and advertising
Telephone
IT software and consumables
Audit and accountancy fees
**NET INCOMING RESOURCES / (RESOURCES EXPENDED) FOR THE YEAR**
**This is stated after charging:**
Auditor's remuneration - audit fees
- non-audit fees
Depreciation|**2022**
**£**
99
810
1,079
5,735
7,723
**2022**
**£**
2,500
3,235
2,941|**2021**
**£**
122
837
1,269
4,780
7,008
**2021**
**£**
3,050
1,730
4,660| |---|---|---| ## **7 NET INCOMING RESOURCES / (RESOURCES EXPENDED) FOR THE YEAR** ## **8 STAFF COSTS AND TRUSTEES' REMUNERATION** Three trustees claimed expenses during the year for general amenities which were met by the charity, totalling £NIL ( £15 - 2021). ## **9 TAXATION ON ORDINARY ACTIVITIES** The association, being a registered charity, is not liable to taxation on its income. - 15 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **10 TANGIBLE ASSETS** |**Costs**
At 1 January 2022
Additions
Disposals
At 31 December 2022
**Accumulated depreciation**
At 1 January 2022
Charge for year
Disposals
At 31 December 2022
**Net book value**
At 1 January 2022
At 31 December 2022
**11**
**DEBTORS**
Trade debtors
Prepayments and accrued income
Other debtors
**12**
**CREDITORS:**amounts falling due within one year
Trade creditors
Taxation and social security
Accruals and deferred income
Other creditors|**Fixtures and**
**equipment**
**£**
12,794
-
-
12,794
3,061
853
-
3,914
9,733
8,880|**Office**
**equipment**
**£**
22,150
525
(1,033)
21,642
15,678
2,088
(1,033)
16,733
6,472
4,909
**2022**
**£**
7,016
3,240
2,532
12,788
**2022**
**£**
3,142
6,669
90,559
10,100
110,470|**Total**
**£**
34,944
525
(1,033)
34,436
18,739
2,941
(1,033)
20,647
16,205
13,789
**2021**
**£**
45,333
2,711
4,788
52,832
**2021**
**£**
1,025
8,742
72,517
10,100
92,384| |---|---|---|---| - 16 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **13 CONTINGENCIES AND COMMITMENTS** |Amounts receivable under operating leases
In less than one year
In more than one but less than five years|**2022**
**£**
15,750
-
15,750|**2021**
**£**
63,000
15,750
78,750| |---|---|---| ## **Contingent liability** The charity leases the property in which they operate and is responsible for dilapidation expenses at the end of the lease. A base service cost and formula for increasing by the Retail Price Index is quoted in the lease and is accrued for annually in the form of a sinking fund, by the charity. The accrual included within the accounts is £83,118 (2021 - £67,143). This base service cost covers repairs and maintenance of the property and replacement of fixtures, which would usually be expected to be part of the dilapidation costs. At the end of the lease there will be an independent review of any additional dilapidation expenses, but a reliable estimate cannot be obtained of this amount. The lease is over a 25 year period and began in December 2016. ## **14 ANALYSIS OF NET ASSETS BETWEEN FUNDS** |**£**
Tangible fixed assets
13,734
Cash at bank and in hand
372,407
Other net current (liabilities) / assets
(97,682)
288,459
**Unrestricted**
**general funds**|**Restricted**
**funds**
**£**
55
11,818
-
11,873|**Total**
**2022**
**£**
13,789
384,225
(97,682)
300,332| |---|---|---| ## **15 RELATED PARTY TRANSACTIONS** The following related party transactions have taken place during the period: Consultancy fees of £17,000 (2021 - £17,000) have been paid to G Bellinger, the charity's secretary, in respect of IT and property management consultancy services. The fees payable are not in respect of secretarial duties carried out. - 17 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **16 STATEMENT OF FINANCIAL ACTIVITIES - COMPARATIVE FIGURES BY FUND-TYPE** |**INCOMING RESOURCES**
**Charitable activities**
**Generated funds**
Interest receivable
Donations - rental discount
**RESOURCES EXPENDED**
**Charitable activities**
**Governance costs**
**Net movement in funds for the year**
Total funds brought forward
**Total funds carried forward**
Activities to further the charity's
objects
**Total incoming resources**
**Total resources expended**
**Net expenditure**|**Unrestricted**
**Funds**
**£**
122,499
24
172,000
294,523
234,066
7,008
241,074
53,449
53,449
184,257
237,706|**Restricted**
**Funds**
**£**
-
-
-
-
1,123
-
1,123
(1,123)
(1,123)
13,059
11,936|**Total**
**Funds 2021**
**£**
122,499
24
172,000
294,523
235,189
7,008
242,197
52,326
52,326
197,316
249,642| |---|---|---|---| - 18 - **NORTHWAY DISTRICT COMMUNITY ASSOCIATION** ## **DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022** **----- Start of picture text -----**
2022 2021
£ £
INCOME
Room and hall hire 46,166 18,297
Discounts given (5,044) (2,499)
Occupation licence 30,000 30,000
Bad debt provision 1,259 (2,150)
Rent 63,000 63,000
Government grants - 15,851
Donations - rental discount 172,000 172,000
Interest receivable 334 24
307,715 294,523
EXPENDITURE
Consultancy fees 20,603 17,000
Rent 172,000 172,000
Printing, postage, stationery and advertising 99 122
Telephone 810 837
IT software and consumables 1,079 1,269
Insurance 2,105 2,109
Cleaning 12,809 11,557
Annual maintenance 1,000 1,000
Repairs 25 462
Sinking fund 14,975 13,743
General rates 3,344 1,667
Heat and light 15,857 7,963
Burglar alarm and entry system 1,565 1,325
Audit and accountancy fees 5,735 4,780
Legal and professional fees 1,950 -
Sundry expenses 128 112
Expenses to support community events - 1,591
Depreciation 2,941 4,660
257,025 242,197
Surplus for the year 50,690 52,326
**----- End of picture text -----**
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