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2024-12-31-accounts

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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

Registered Charity Number: 304344

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

CONTENTS PAGES
Charity information 1
Trustees' report 2 to 5
Auditor's report 6 to 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 to 19
The following page does not form part of the financial statements
Detailed income and expenditure account 20

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

CHARITY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024

MANAGEMENT COMMITTEE

D Telahun C Hibbins - Chairman R Shelton L Taylor 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 Oxford OX5 1LQ

BANKERS

Barclays Bank Plc Leicester LE87 2BB

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their annual report with the financial statements of the charity for the year ended 31 December 2024.

TRUSTEES

The following Trustees served on the Management Committee during the year:-

D Telahun C Hibbins - Chairman R Shelton L Taylor 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 2024

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 ongoing financial challenges across the UK have continued to impact the Community Centre, particularly due to rising energy costs. However, despite these pressures, the Centre has not only maintained but expanded its community outreach and activities.

Throughout 2024, the Centre has built on previous successes and seen a continued increase in community-led projects. Subsidised and free use of facilities has remained a priority to support the development of new initiatives. A standout example is the thriving table tennis group, which has grown into a popular and well-attended regular activity.

Support for longstanding partnerships has also continued. The Centre is proud of its ongoing collaboration with Parasol, and the continued growth of NorthwayTogether, which plays a key role in addressing local social needs. NorthwayTogether provides warm, welcoming spaces and free lunches for those attending the Centre, reinforcing the importance of community cohesion and care.

The gardening group, in collaboration with Marston Community Gardening, has flourished, offering local residents a meaningful way to connect with nature and each other. Partnerships with groups such as Age UK Tea Books have also continued, offering social and wellbeing-focused activities for older residents.

In 2024, a significant development has been the Centre's new partnership with Oxford City Council to provide weekly youth activities, further broadening the Centre's reach and ensuring young people have access to safe, supportive, and engaging spaces.

In addition to these key activities, the Centre continues to host a wide variety of local groups and has maintained subsidised hall hire for family celebrations, making sure the Centre remains at the heart of the community.

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Looking ahead, the Community Centre remains committed to:

FINANCIAL REVIEW

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

Income generated from charitable activities saw a small increase on the previous year, while overheads have reduced. This has resulted in a surplus for the year. Previously a covenant agreement has been in place with Northway Social Club Limited, whereby any profit that had been achieved by them would be donated to the charity. However, Northway Social Club Limited has ceased to trade during the year, therefore no future income or donations will be received.

The balance shown on unrestricted income funds amounted to £299,811. 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.

,NORTHWAY DISTRICT COMMUNITY ASSOCIATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 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 slalements., 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 trustee5 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 8ny 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 April 2025

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024 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 2024

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 2024

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 2024

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.

Chris Denton (Senior Statutory Auditor) For and on behalf of

THE MGROUP PARTNERSHIP

STATUTORY AUDITOR

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

28 April 2025

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE) FOR THE YEAR ENDED 31 DECEMBER 2024

----- Start of picture text -----
Notes Unrestricted Restricted Total Total
Funds Funds Funds 2024 Funds 2023
£ £ £ £
INCOMING RESOURCES
Charitable activities
Activities to further the charity's
objects 4 112,238 - 112,238 111,567
Generated funds
Interest receivable 5,658 - 5,658 3,638
Donations - rental discount 150,000 - 150,000 172,000
Total incoming resources 267,896 - 267,896 287,205
RESOURCES EXPENDED
Costs of other activities - - - -
Charitable activities 5 233,820 1,290 235,110 286,009
Governance costs 6 10,176 - 10,176 14,168
Total resources expended 243,996 1,290 245,286 300,177
Net income / (expenditure) 23,900 (1,290) 22,610 (12,972)
Net movement in funds for the year 23,900 (1,290) 22,610 (12,972)
Total funds at brought forward 275,911 11,449 287,360 300,332
Total funds at carried forward 14 299,811 10,159 309,970 287,360
----- 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 2024 Notes 2024 2023 FIXED ASSETS Tangible assets 10 14,668 17,826 CURRENT ASSETS Debtors Cash at bank and in hand 11 7,269 327,246 10,812 391,798 334,515 402,410 CREDITORS.. Amounts falling due within one year 12 39,213 132,876 NET CURRENT ASSETS 295,302 269,534 TOTAL NET ASSETS 309,970 287,360 FUNDS Restricted Unrestricted 10,159 299,811 11,449 275,911 TOTAL FUNDS 14 309,970 287,360 These accounts were approved by the Trustees oR8.Ap.ril 2026nd signed on its behalf by the following.. L Taylor Trustee C Hibbins Trustee 11

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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 accounts have been drawn up on the going concern basis following the trustees' assessment of the charity's ability to trade for at least 12 months from the date these accounts have been approved. During the year, a social club that rented part of the community associations premises filed for insolvency on 1st November 2024. Further to this, after the year-end the association received a leaving notice period from a health foundation trust who were also occupying a substantial part of the premisies. Both types of rental income represent a significant proportion of the overall income that the community association recieve, meaning that the decision regarding going concern has been made having taken into account the loss of major customers. The trustees have considered the cash reserves which are sufficient to cover the ongoing neccesary expenses and have forecasted that they should be able to do so for the next 2 years.

If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise and to reclassify fixed assets as current assets.

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024

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 2024

3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

A significant accounting estimate has been made by the Management Committee in respect of the donation income of £150,000. 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
Car park income
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
Salaries
Bad debt write off
Depreciation
Restricted expenditure:
Depreciation
Sinking fund		 2024
£
38,768
(15,146)
25,000
210
63,000
406
112,238
2024
£
14,801
150,000
17,210
536
(143)
2,127
2,414
2,573
16,845
259
6,607
15,600
2,181
2,810
233,820
1,290
235,110		 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

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

6 GOVERNANCE COSTS

Printing, postage, stationery and advertising
Telephone
IT software and consumables
Audit and accountancy fees		 2024
£
646
681
861
7,988
10,176		 2023
£
8,046
624
906
4,592
14,168

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

This is stated after charging: 2024
2023
£
£
Auditor's remuneration - audit fees 3,000
3,000
- non-audit fees 4,988
1,592
Depreciation 4,100
3,475

8 STAFF COSTS AND TRUSTEES' REMUNERATION

Staff costs during the year amounted to £15,600 ( £NIL - 2023).

The trustees did not claim expenses during the year for general amenities ( £NIL - 2023).

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 2024

10 TANGIBLE ASSETS

Costs
At 1 January 2024
Additions
Disposals
At 31 December 2024
Accumulated depreciation
At 1 January 2024
Charge for year
Disposals
At 31 December 2024
Net book value
At 1 January 2024
At 31 December 2024
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
725
-
13,519
4,767
883
-
5,650
8,027
7,869		 Office
equipment
£
29,154
217
(11,003)
18,368
19,355
3,217
(11,003)
11,569
9,799
6,799
2024
£
3,604
3,665
-
7,269
2024
£
1,309
684
8,220
29,000
39,213		 Total
£
41,948
942
(11,003)
31,887
24,122
4,100
(11,003)
17,219
17,826
14,668
2023
£
5,412
2,567
2,633
10,612
2023
£
2,537
3,502
116,737
10,100
132,876

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13 CONTINGENCIES AND COMMITMENTS

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 sinking fund has been paid up to 31 December 2024, therefore there is no amount to accrue in these accounts (2023 - £101,115). 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
9,875
Cash at bank and in hand
321,880
Other net current (liabilities) / assets
(31,944)
299,811
Unrestricted
general funds		 Restricted
funds
£
4,793
5,366
-
10,159		 Total
2024
£
14,668
327,246
(31,944)
309,970

15 RELATED PARTY TRANSACTIONS

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

Consultancy fees of £14,801 (2023 - £17,000 plus an arrears payment of £15,271, totalling £32,271) have been paid to 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.

The secretary has also drawn a salary from the charity of £8,000 in the year. The charity payroll scheme was introduced in January 2024.

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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
£
111,567
3,638
172,000
287,205
285,585
14,168
299,753
(12,548)
(12,548)
288,459
275,911		 Restricted
Funds
£
-
-
-
-
424
-
424
(424)
(424)
11,873
11,449		 Total
Funds 2023
£
111,567
3,638
172,000
287,205
286,009
14,168
300,177
(12,972)
(12,972)
300,332
287,360

NORTHWAY DISTRICT COMMUNITY ASSOCIATION

DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024

----- Start of picture text -----
2024 2023
£ £
INCOME
Charitable activities
Room and hall hire 38,768 30,310
Discounts given (15,146) (13,015)
Occupation licence 25,000 30,000
Bad debt provision 210 1,272
Rent 63,000 63,000
Car park income 406 -
112,238 111,567
Generated funds
Donations - rental discount 150,000 172,000
Interest receivable 5,658 3,638
155,658 175,638
267,896 287,205
EXPENDITURE
Consultancy fees 14,801 35,399
Rent 150,000 172,000
Salaries 15,600 -
Printing, postage, stationery and advertising 646 8,046
Telephone 681 624
IT software and consumables 861 906
Insurance 2,573 2,897
Cleaning 16,845 15,489
Annual maintenance (143) 1,000
Repairs 2,127 1,728
Sinking fund 6,607 16,997
General rates 2,414 3,257
Heat and light 17,210 33,190
Burglar alarm and entry system 536 435
Audit and accountancy fees 7,988 4,592
Bad debt write off 2,181 -
Sundry expenses 259 142
Depreciation 4,100 3,475
245,286 300,177
Surplus / (Deficit) for the year 22,610 (12,972)
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