REGISTERED CHARITY NUMBER: 304998
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for
New Haw & Woodham Community Association
Accord Accountants 191-193 High Street Hampton Hill Middlesex TW12 1NL
New Haw & Woodham Community Association
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | ||
| Notes to the Financial Statements | 4 | to | 7 |
| Detailed Statement of Financial Activities | 8 |
New Haw & Woodham Community Association
Report of the Trustees
for the Year Ended 31 December 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 304998
Principal address
65 Woodham Lane New Haw Surrey KT15 3ND
Trustees
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
...................................................................... Trustee
Page 1
New Haw & Woodham Community Association
Statement of Financial Activities for the Year Ended 31 December 2024
| 31.12.24 | 31.12.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 124,120 | 64,145 | |
| EXPENDITURE ON | |||
| Raising funds | 101,503 | 55,789 | |
| NET INCOME | 22,617 | 8,356 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 13,269 | 4,913 | |
| TOTAL FUNDS CARRIED FORWARD | 35,886 | 13,269 |
The notes form part of these financial statements
Page 2
New Haw & Woodham Community Association
Balance Sheet
31 December 2024
| 31.12.24 | 31.12.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 4 | 1,645 | 1,645 |
| CURRENT ASSETS | |||
| Debtors | 5 | 12,534 | - |
| Cash at bank and in hand | 31,302 | 19,010 | |
| 43,836 | 19,010 | ||
| CREDITORS | |||
| Amounts falling due within one year | 6 | (7,290) | (1,298) |
| NET CURRENT ASSETS | 36,546 | 17,712 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 38,191 | 19,357 | |
| CREDITORS | |||
| Amounts falling due after more than one year | 7 | (2,305) | (6,088) |
| NET ASSETS | 35,886 | 13,269 | |
| FUNDS | 9 | ||
| Unrestricted funds | 35,886 | 13,269 | |
| TOTAL FUNDS | 35,886 | 13,269 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 3
New Haw & Woodham Community Association
Notes to the Financial Statements for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Page 4
continued...
New Haw & Woodham Community Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
| 3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|---|
| Unrestricted | |||
| fund | |||
| £ | |||
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 64,145 | ||
| EXPENDITURE ON | |||
| Raising funds | 55,789 | ||
| NET INCOME | 8,356 | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 4,913 | ||
| TOTAL FUNDS CARRIED FORWARD | 13,269 | ||
| 4. | TANGIBLE FIXED ASSETS | ||
| Fixtures | |||
| and | |||
| fittings | |||
| £ | |||
| COST | |||
| At 1 January 2024 and 31 December 2024 | 2,397 | ||
| DEPRECIATION | |||
| At 1 January 2024 and 31 December 2024 | 752 | ||
| NET BOOK VALUE | |||
| At 31 December 2024 | 1,645 | ||
| At 31 December 2023 | 1,645 | ||
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.12.24 | 31.12.23 | ||
| £ | £ | ||
| Trade debtors | 12,534 | - | |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.12.24 | 31.12.23 | ||
| £ | £ | ||
| Other creditors | 7,290 | 1,298 |
Page 5
continued...
New Haw & Woodham Community Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||
|---|---|---|---|---|
| 31.12.24 | 31.12.23 | |||
| £ | £ | |||
| Bank loans (see note 8) | 2,305 | 6,088 | ||
| 8. | LOANS | |||
| An analysis of the maturity of loans is given below: | ||||
| 31.12.24 | 31.12.23 | |||
| £ | £ | |||
| Amounts falling due between two and five years: | ||||
| Bank loans - 2-5 years | 2,305 | 6,088 | ||
| 9. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.24 | in funds | 31.12.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 13,269 | 22,617 | 35,886 | |
| TOTAL FUNDS | 13,269 | 22,617 | 35,886 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 124,120 | (101,503) | 22,617 | |
| TOTAL FUNDS | 124,120 | (101,503) | 22,617 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.1.23 | in funds | 31.12.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 4,913 | 8,356 | 13,269 | |
| TOTAL FUNDS | 4,913 | 8,356 | 13,269 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 64,145 | (55,789) | 8,356 | |
| TOTAL FUNDS | 64,145 | (55,789) | 8,356 |
Page 6
continued...
New Haw & Woodham Community Association
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.23 | in funds | 31.12.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 4,913 | 30,973 | 35,886 |
| TOTAL FUNDS | 4,913 | 30,973 | 35,886 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 188,265 188,265 |
Resources Movement expended in funds £ £ (157,292) 30,973 (157,292) 30,973 |
Resources Movement expended in funds £ £ (157,292) 30,973 (157,292) 30,973 |
|---|---|---|---|
| 30,973 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
Page 7
New Haw & Woodham Community Association
Detailed Statement of Financial Activities for the Year Ended 31 December 2024
| Detailed Statement of Financial Activities for the Year Ended 31 December 2024 |
||
|---|---|---|
| 31.12.24 | 31.12.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 24,468 | 2,725 |
| Hire | 99,652 | 61,420 |
| 124,120 | 64,145 | |
| Total incoming resources | 124,120 | 64,145 |
| EXPENDITURE | ||
| Other trading activities | ||
| Fundraising costs | 746 | 2,665 |
| Support costs | ||
| Finance | ||
| Bank charges | 106 | 102 |
| Information technology | ||
| Repairs and renewals | 56,299 | 17,422 |
| Other | ||
| Wages | 5,550 | 6,406 |
| Impairment losses for heritage assets | - | 197 |
| 5,550 | 6,603 | |
| Other 2 | ||
| Other operating leases | - | 2,251 |
| Rates and water | 10,930 | 1,289 |
| Insurance | 2,321 | 2,055 |
| Cleaning | 19,830 | 19,097 |
| Telephone | 1,347 | 1,232 |
| Postage and stationery | 267 | 275 |
| 34,695 | 26,199 | |
| Other 3 | ||
| Sundries | 3,057 | 938 |
| Governance costs | ||
| Accountancy and legal fees | 1,050 | 1,860 |
| Total resources expended | 101,503 | 55,789 |
| Net income | 22,617 | 8,356 |
This page does not form part of the statutory financial statements
Page 8