BOLDON OMMUNITY CENTRE NANCIAL TAT FOR THE YEAR ENDED 31 MARCH 2024 BOLDON COMMUNITY ENTRE INDEX TO THE FINANC STATEMENTS CON PAGE Legal and Administrative Details Independent Examinerfs Report Statement gf Financial Activities Balance Sheet Notes lo the Financial Statements BOLDON COMMUNITY CENTR LEGAL AND ADMINISTRATIVE DETAILS Boldon Community Centre is registered with the Charity Commission (Registration number 506668) Address of Charity: New Road Boldon Colliery Tyne and Wear NE35 9DZ Trustees: Alan Leslie Joan Marriott- LEA Gordon French Helen Reay an Daw Secretary Susan Topping Indepéndent Examin8r'. J Wallage FCA CISWO (Trading) Ltd The Old Rectory Rectory Drive Whiston ROTHERHAM South Yorkshire S60 4JG INDEPENDEN INER'S R RTTO HETR BOLDON COMMUNITY CENTRE ST I report lo the Trustees on my examination of the accounts of the above narned charity {regi$tered no. 5066681 for the year ended 31 March 2024 whlch are set out on pages 3 10 9. R• on ibillti95 and basis r• ort As the charity trust68s you are responsibl6 for the preparation of the accounts in a¢¢ordanco wlh the requirements of the Charrties Act 2011 (the Act). I report in respect of my examination of the Trustees, accounts Carried out under section 145 of the 2011 Act and in carrying out my exarnination I have followed all the applicable directions given by the Charity Commission under section 145(5Mbl of the 2011 Act. Inde endont Examiner's Statemont Since the Gharivs income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of Ihe 2011 Act. I confimi that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodie5. I have completed my examination. I confimi that no material matters have come lo my attention in connection with the examination giving me cause to belteve that in any material respect- {1 } accounting records were not kept in respect of th8 Charity as required by seclion 130 of the Act,. or 121 the accounts do not accord with those records. or 131 the accounts do not comply with the applicable accounting requirements concerning the fomi and content of accounts sel out in the Charities (Accounts and Reports) Regulab'ons 2008 other than any requirement that the accounts give a "true and fair view" which is not a matter considered as P8rt of an independent examination. I have no concems and have come acros5 no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. J Wallage FCA On behalf of CISWO ITrading) Ltd The Old Rectory Rectory Drive Whiston Rotherham South Yorkshire S60 4JG Dale OLDON COMM TY CENTRE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 General Fund Section Funds Re$trl¢ted Funds Total 2024 Total 2023 NOTE In¢ome and Endowmen Activities Membership fees Photocopier Bank interest receivable Other income Rent incom6 Village Hall Grant income Coffee Bar surplus Bar surplus Earfy Years Income on sections Insurance Claim 154,188 13,327 32 661 332 3.250 157,438 13,327 32 661 332 117,666 10,779 120 211 7,500 6,113 6,113 4,800 61,521 21,730 111,555 39.448 10 4,800 21,098 40,771 29.203 72.852 19,080 2,827 61,521 21.730 111,555 39.448 Total Incom8 257,904 154.253 4,800 416,957 322,112 enditure Direct Charitable Ex Levy Repairs, maintenance and cleaning Insurance Grant expenditure Depreciation Other expenses Village Hall Oulgoings on Early Years Outgoings on sections enditufe 86,376 18,305 3,085 86.376 18.305 3,085 4,800 3,018 5,105 6,212 110,694 34,272 69.612 16,236 2,615 23.356 3.430 7,002 10 4.800 134 2.884 5,105 6.212 110,694 34,272 73.951 89.790 11 121,967 144.966 4,934 271,867 285.992 Mana ment and Adminis Wages Telephone and office expenses Accountancy alion 128,409 4,315 3.190 128,409 4,315 3,190 108,450 3,749 3,051 Total Expendituro 257,881 144,966 4,934 407,781 401,242 Net {Expendlture) for the year 23 9,287 (134) 9.176 (79,1301 Balances brought forward al 1 April 2023 116,363 62,051 2.644 181.058 260,188 Balance carrled forward at 31 March 2024 116.386 71,338 2.510 190,234 181.058 LDO co MUNITY CENTR LANCE SHE NOTE 2024 2023 FIXED ASSETS 7.272 10,290 CURRENT ASSETS Stock Debkn￿ and pr8paymenls Cash 81 bank and in hand 7,414 2,837 316,150 7,716 11,417 25Jf.602 326.401 274,735 LESS: CURRENT LIABILITIES CredSlofS falling du8 wtlhin one year 1143,4391 (103.9671 NET GURRENT ASSETS 182,962 170.768 TOTAL NEf ASSETS 190,234 181,058 FINANCED BY,. Unr85trict8d Funds Secllon Funds Olher restrlcted lunds 116,386 71,338 2.510 116.363 62,051 2.644 190,234 181.058 The a￿OUnts were approvad by Ihè trustees and signed on Ihelr behalf by.. Signed - Trusleè PHnl namg- Tiusleo BOLDON COMMUNITY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 1. ACCOVNTING POLICIES Basls of preparation and assessment of golng ¢on¢orn The financial slalements have been prepared L¢nder the historic81 egst convention unless olhetwise staled in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice= AccoLFnting and Reporting by Charlties (FRS 102), the Financial Reporting Standard IFRS 102) and the Charities Act 2011. The trustees consider that there are no material un¢ertainties about the charity's ability to continue as a going concem. The trustees have a reasonable expectation that the charity has adequate reserves lo continue in op6ralional existence for the foreseeable future. Accordingly the trustees continue to adopt the going con￿rn basis in the preparation of the accounts. b, Income Recognition Income is Tecognised once the Charity has enli118rn9nt to the income. it is probable that the income 11 bo received and the amount of income receivable can be measured reliably. Donations are Tecognised when they are re¢eived. c. Expenditure recognition Liabili118s are recognised as expendilure as soon as there is a legal or constructive obligation committing the charity lo that expenditure, il is probable that settlement wll be required and the amount of the obligation tan be measured r81iably. Al expenditure is accounted for on an a¢cruals basis. d. Depreciatlon Depreciation is pmvided on all fixed assets and aims lo write off the cost of the assets over their estimated useful lives. The annual rates of depreciation applied are as follows.. Buildings Fixlures and equipment 15f/lo straight line basis 25Vo ￿d￿cing balance basis e. Stock Slo¢k is valued and the lower of ¢osl and nel realisable value. Cost Is invoice price with no addition for overhead expenses. BOLDON COMMUNITY CENTRE NOTES TO THE ACCOUNTS CONTINUED FOR THE YE NDED 31 MAR 24 2024 2023 ACTIVITIES INCOME Sauna Squash Snooker Swimming Gym Room hire Sports Hall Entrance Fees Other 1.662 4.614 5,965 23.452 31,458 47,434 19.853 19,750 1,572 4.652 5,679 17.194 15.419 42.342 10,535 16,238 685 154,188 114.316 2024 2023 COFFEE BAR Sales 174,919 112,168 Less.. Cost of SaFes Opening stock Purchases 1,502 108,673 279 72,137 110,175 12.072} 72,416 11,5021 Less: Closing stock {108,103} 170,9141 GROSS PROFIT 66,816 41,254 Less: Ex nse5 Repairslcleaning 5,295 483 15,295) 1483) SURPLUS FOR THE YEAR 61,521 40.771 BO COMMUNITY NT OTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 BARA OUNT 2024 2023 Bar takings 61,707 51,791 Less.. Cost of Sales Opening stock Purchases (net of discounts received 6,214 37,151 637 28.120 43,365 15,3421 28,757 16.214) Less.. Closing stock 138,023) {22,543} GROSS PROFIT 23,684 29,248 56.47Yo Add.. Other Income Pool table other income Less= Ex Repairslcleaning enses 1,954 45 (1.954) 1451 SURPLUS FOR THE YEAR 21,730 29,203 Flxtures & FIXED A ETS Net book value brought foTward as at 1 April 2023 Additions in year 10,290 10,290 Depreciation charge for the year {3,0181 Net book value carried forward as at 31 March 2024 7.272 LDO UNITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH CONTINUED 2024 2023 STOCKS Coffee Barlcatering stocks 8ar stocks 2.072 5,342 1,502 6,214 7.414 7,716 DEBTORS Amounts receivable in one Trade debtors Prepayments and accrued income ear 1.885 952 10,928 2,837 11.417 CASH AT BANK AND IN HAND Bank current account High Interest account Cash and C8rd 254,101 55,566 6.483 199.199 54.905 1,498 316,150 255.602 CREDITORS: Arnounts falll dug within ono ear Trade creditors Other creditors and accruals Amounts owed to council for school hire 7,866 119,307 16,266 256 88,195 15,516 143.439 103.967 10. ￿￿Ts The following grants were received and fully ulilised during the year: South Tyneside Council Communty Foundation Willand Trust 1,000 3,800 4.800 At the balance sheet dale the charity was holding unspent grant monies totalling £291 from the Communty Fondation Willand Trust. This sum wlll be utilised in the comlng year on works to the Coffee Bar. BOLDON COMMUNITY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 CONTINUED 11. MOVEMENT ON SECTIONS Balancg at 31.3.2 Ad u$t- Balance De Foodbank Outdoor activities Netball Model aircraft Carpet fund Boxing Archery Whitbum {Bridgel Events Fund Building R¢)om Hire Deposits Eady Years 11,225 2,690 140 417 1.274 8,437 571 23,437 5,507 (9,1971 7.715 5,290 17,750 2,907 12001 217 1,576 10,099 2.367 302 1.662 1,796 7,000 22,907 375 7,015 6.468 276 3,250 111,555 {9001 6,913 492 3,465 100,694 5.655 22,691 60 {1001 iio,0001 7.876 62,051 154.253 20,397 124,569 71,338 12. CONTINGENT LIABILITY During the preparation of these financial statemenls, the trustees have been made aware that the charity may have become liable lo VAT on some of its activrties. The trustee$ have engaged specialist VAT 8dvisors to assess the charity's position and advise on any VAT liability that may have arisen. At the time of signing these financial statements this work is still ongoing and the trustees aTr unable lo quantify this with any certainty. Any amendments that may be required to the financial statements itk relation to VAT wll be accounted for in the financial statements for the year ended 31 March 2025.