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2023-12-31-accounts

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

The MGroup Partnership Chartered Certified Accountants Registered Auditors C9 Glyme Court Oxford Office Village, Langford Lane Kidlington OX5 1LQ

Registered Charity Number: 304344

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023

MANAGEMENT COMMITTEE

D Telahun C Hibbins - Chairman R Shelton L Palfreeman E Corbett G Hibbins (Deceased 3 March 2024) P Elliott

SECRETARY

G Bellinger

REGISTERED OFFICE

45 Dora Carr Close Headington Oxford OX3 9RU

CHARITY REGISTRATION NUMBER

304344

AUDITORS

The MGroup Partnership Chartered Certified Accountants C9 Glyme Court Oxford Office Village Langford Lane Kidlington OX5 1LQ

BANKERS

Barclays Bank Plc Leicester LE87 2BB

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their annual report with the financial statements of the charity for the year ended 31 December 2023.

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 (Deceased 3 March 2024) 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:

45 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:

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

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 UK financial climate has impacted the Community Centre, specifically resulting in increased energy costs. Despite such increases this hasn’t negatively impacted its work and there continues to be increase in community projects.

The Community Centre 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.

The Community Centre aim to continue in its support to the community by offering subsidised and free use of its facilities and to expand its support to the aforementioned groups. The Community Centre will aim to organise more community projects such as fundraisers and and awareness campaigns, as well as trying to improve the quality of their projects by conducting surveys to measure impact.

The Community Centre will review and update its policies and procedures to ensure that they are aligned with the vision and mission of supporting community projects, as well as complying with the relevant laws and regulations.

FINANCIAL REVIEW

The attached financial statements show the current state of the finances.

Income has decreased on the previous year, whilst total overheads have increased. This has resulted in a deficit 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 2023.

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

FINANCIAL REVIEW - continued

The balance shown on unrestricted income funds amounted to £275,911. 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.

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:

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:

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: 5 June 2024

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023 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:

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.

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

OTHER INFORMATION

The other information comprises the information included in the annual report, including the trustees' 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:

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.

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

OUR RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed as auditor under Section 145 Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

OUR RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS - continued

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

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

C9 Glyme Court Oxford Office Village, Langford Lane Kidlington OX5 1LQ

5 June 2024

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE) FOR THE YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
Notes Unrestricted Restricted Total Total
Funds Funds Funds 2023 Funds 2022
£ £ £ £
INCOMING RESOURCES
Charitable activities
Activities to further the charity's
objects 4 111,567 - 111,567 135,381
Generated funds
Other activities - - - -
Interest receivable 3,638 - 3,638 334
Donations - rental discount 172,000 172,000 172,000
Total incoming resources 287,205 - 287,205 307,715
RESOURCES EXPENDED
Costs of other activities - - - -
Charitable activities 5 285,585 424 286,009 249,302
Governance costs 6 14,168 - 14,168 7,723
Total resources expended 299,753 424 300,177 257,025
Net income / (expenditure) (12,548) (424) (12,972) 50,690
Net movement in funds for the year (12,548) (424) (12,972) 50,690
Total funds at brought forward 288,459 11,873 300,332 249,642
Total funds at carried forward 14 275,911 11,449 287,360 300,332
----- 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.

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

BALANCE SHEET AS AT 31 DECEMBER 2023

----- Start of picture text -----
Notes 2023 2022
£ £
FIXED ASSETS
Tangible assets 10 17,826 13,789
CURRENT ASSETS
Debtors 11 10,612 12,788
Cash at bank and in hand 391,798 384,225
402,410 397,013
CREDITORS : Amounts falling due 12 132,876 110,470
within one year
NET CURRENT ASSETS 269,534 286,543
TOTAL NET ASSETS 287,360 300,332
FUNDS
Restricted 11,449 11,873
Unrestricted 275,911 288,459
TOTAL FUNDS 14 287,360 300,332
----- End of picture text -----

These accounts were approved by the Trustees on 5 June 2024 and signed on its behalf by the following:

L Palfreeman C Hibbins
Trustee Trustee

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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.

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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.

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.

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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.

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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
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
Legal and professional fees
Depreciation
Restricted expenditure:
Depreciation
Sinking fund		 2023
£
30,310
(13,015)
30,000
1,272
63,000
111,567
2023
£
35,399
172,000
33,190
435
1,000
1,728
3,257
2,897
15,489
142
16,997
-
3,051
285,585
424
286,009		 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

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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		 2023
£
8,046
624
906
4,592
14,168
2023
£
3,000
1,592
3,475		 2022
£
99
810
1,079
5,735
7,723
2022
£
2,500
3,235
2,941

7 NET INCOMING RESOURCES / (RESOURCES EXPENDED) FOR THE YEAR

8 STAFF COSTS AND TRUSTEES' REMUNERATION

The trustees did not claim expenses during the year for general amenities ( £NIL - 2022).

9 TAXATION ON ORDINARY ACTIVITIES

The association, being a registered charity, is not liable to taxation on its income.

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

10 TANGIBLE ASSETS

Costs
At 1 January 2023
Additions
At 31 December 2023
Accumulated depreciation
At 1 January 2023
Charge for year
At 31 December 2023
Net book value
At 1 January 2023
At 31 December 2023
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
3,914
853
4,767
8,880
8,027		 Office
equipment
£
21,642
7,512
29,154
16,733
2,622
19,355
4,909
9,799
2023
£
5,412
2,567
2,633
10,612
2023
£
2,537
3,502
116,737
10,100
132,876		 Total
£
34,436
7,512
41,948
20,647
3,475
24,122
13,789
17,826
2022
£
7,016
3,240
2,532
12,788
2022
£
3,142
6,669
90,559
10,100
110,470

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

13 CONTINGENCIES AND COMMITMENTS

Amounts receivable under operating leases
In less than one year		 2023
£
-
-		 2022
£
15,750
15,750

Amounts receivable under operating leases relates to rental income. Northway Community Association had agreed to grant an underlease of the property to the tenant. Terms and conditions were set out in the lease.

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 £101,115 (2022 - £83,118). 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
11,743
Cash at bank and in hand
386,432
Other net current (liabilities) / assets
(122,264)
275,911
Unrestricted
general funds		 Restricted
funds
£
6,083
5,366
-
11,449		 Total
2023
£
17,826
391,798
(122,264)
287,360

15 RELATED PARTY TRANSACTIONS

The following related party transactions have taken place during the period:

Consultancy fees of £17,000 (2022 - £17,000) have been paid to G Bellinger, the charity's secretary, in respect of IT and property management consultancy services. An additional amount of £15,271 was paid in respect of agreed increases in past consultancy fees, covering the years 2018 to 2023. The fees payable are not in respect of secretarial duties carried out.

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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
£
135,381
334
172,000
307,715
249,239
7,723
256,962
50,753
50,753
237,706
288,459		 Restricted
Funds
£
-
-
-
-
63
-
63
(63)
(63)
11,936
11,873		 Total
Funds 2022
£
135,381
334
172,000
307,715
249,302
7,723
257,025
50,690
50,690
249,642
300,332

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
2023 2022
£ £
INCOME
Room and hall hire 30,310 46,166
Discounts given (13,015) (5,044)
Occupation licence 30,000 30,000
Bad debt provision 1,272 1,259
Rent 63,000 63,000
Donations - rental discount 172,000 172,000
Interest receivable 3,638 334
287,205 307,715
EXPENDITURE
Consultancy fees 35,399 20,603
Rent 172,000 172,000
Printing, postage, stationery and advertising 8,046 99
Telephone 624 810
IT software and consumables 906 1,079
Insurance 2,897 2,105
Cleaning 15,489 12,809
Annual maintenance 1,000 1,000
Repairs 1,728 25
Sinking fund 16,997 14,975
General rates 3,257 3,344
Heat and light 33,190 15,857
Burglar alarm and entry system 435 1,565
Audit and accountancy fees 4,592 5,735
Legal and professional fees - 1,950
Sundry expenses 142 128
Depreciation 3,475 2,941
300,177 257,025
Deficit for the year (12,972) 50,690
----- End of picture text -----