Charity registration number 520141 WOODFORD WAR MEMORIAL COMMUNITY CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
WOODFORD WAR MEMORIAL COMMUNITY CENTRE CONTENTS Page Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 7-14
WOODFORD WAR MEMORIAL COMMUNITY CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs. R Griffin Mr. T Tootle Mrs. J Craig Mrs. P E Mott Mrs. L Wood Mrs. M Wood Mr. S Exelby Mrs M Poole ZA Jones Mr l Brook J A Fumess Charity number 520141 Registered office Woodford Communty Centre Chester Road Woodford Stockport Cheshire SK7 1PS Independent examiner Azets Audit Services Alpha House 4 Greek Street Stockport Cheshire SK3 8AB United Kingdom
WOODFORD WAR MEMORIAL COMMUNITY CENTRE TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2024 The trustees present their annual report and financial statements for the year ended 30 June 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}" (effective 1 January 2019). Objectives and activities The charity's objective is to have a community centre available to the local community and local charitable groups. There has been no change in these during the year. The trustees have paid due regard to guidan issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance Once again, Trustees are delighted to announce another Suc$sfvl year for the Community Centre, resulting in an overall surplus for the year of £34,264 (2023 £3.511). The Centre proved to be a popular venue for many regular bookings throughout the year, including bodford Wl, Woodford Players, sewing classes. badminton groups. a bridge class, dog training classes, plus many other activities. The Centre was also hired for many one off private celebrations, as well as hosting events organised by the Committee, including a Macmillan coffee moming and the newly introduced Comedy evenings. Bcokings remain high for the future, and include some new hirers on a weekly basis. Again, in order lo try to make the Community Centre even more appealing to hirers, especially for large parties and wedding lebratIOnS, over £46,000 was spent on renovations. A new hall floor was laid, bi-fold doors installed, along with new tables for the small hall. banquet chairs and a digital advertising screen. Thanks to a generous donation from Redrow, a canopy was also purchased to cover the outdoor decked area, newly installed last year. The main fundraiser of the year, the Bonfire, was a sell OLrt and On again proved to be very su¢¢essful. As previously reported. operational costs were kept to a minimum. despite the rising costs encountered in many areas of expenditure. Funds in the reserve account have decreased due to the high expenditure on repairs and renovations, however still remain very healthy. The Trustees are very gratefvl to both the community and the regular hirers for their unstinting support. Income WWMCC did not receive any grants in 2023-24. Hall Hire and Bar Commission Income has increased from the previous year to £75,041 (2023 £44,405). Fundraisin 2023-24 saw the level of activities increase over the financial year. with the main event being bonfire night. The result of the increase of activities generated a pleasing income of £38,928 (2023 £37,945).
WOODFORD WAR MEMORIAL COMMUNITY CENTRE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Expenditure Business rates WVVMCC'S charitsble status permits it to receive a discount on any Business Rates eratin Costs Alarm maintenance, Caretaking and Cleaning. Gas. INater, Electricity, Grounds maintenance, Security costs have all been maintained. Financial review During the period the total incoming resources were £124,968 (2023 - £84,619). Resources expended totalled £90,704 (2023- £81,108). It is the policy of the charity that unrestricted funds which have not been designated for a specfic use should be maintained at a level equivalent to between three and six month's expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding. they will be able to continue the charity's current activities while consideration is given to ways in vthich additional funds may be raised. This level of reserves has been maintained throughout the year. Free reserves of the charity totalled £185,927 (2023 £151.663). Investment Policy All funds are invested in two bank accounts, a Community Fund and a Reserve account with Barclays Bank. The trustees continually assess the major risks to which IPMIMCC could be exposed and make sure that a¢¢essible funds are lodged in an appropriate account. The trustees have assessed the major risks to which the charty is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Plans for the next financial year- 1st July 2024 to 30th June 2025 The trustees are considering various refurt)ishment options. hire fees and fundraising opportunities.
WOODFORD WAR MEMORIAL COMMUNITY CENTRE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Structure, governance and management The charity is a registered charity (No. 520141). Its registered office is shown on the Legal and Administrative Information page. The charity is constituted by a goveming document dated 1 July 1953 and subsequently amended on 6 January 1954, 12 September 2007, 6 May 2010, 13 October 2011 and 25 September 2013. The Board of Trustees is responsible for the overall governan of the charity. The trustees who served during the year and up to the date of signature of the financial statements are listed on the legal and administrative information page. The twstees are responsible for the appointment of new twstees. New trustees wll only be appointed after due consideration is given to eligibility, personal competence and specialist skills. New trustees, when appointed, are inducted into the working of the charity by existing trustees. The twstees. report was approved by the Board of Trustees. Mrs. J Craig Trustee
WOODFORD WAR MEMORIAL COMMUNITY CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WOODFORD WAR MEMORIAL COMMUNITY CENTRE I report to the trustees on my examination of the financial statements of Woodford War Memorial Community Centre (the charity) for the year ended 30 June 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the CharitiesAct 2011 (the 2011 Act). I report in respect of my examination of the charity's financial statemerrts carried out under sedion 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examinerfs statement Your attention is drawn to the fact that the charity has prepared financial statements in aCcOrdae with 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) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect= accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or the financial statements do not accord wth those records" or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no COnrnS and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Jonathan Ward -ACA A2ets Audit Services Alpha House 4 Greek Street Stockport SK3 8AB United Kingdom
WOODFORD WAR MEMORIAL COMMUNITY CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted funds 2023 2024 Notes Donations and legacies Charitsble activities Investments 2,500 2,500 121,332 1,136 121,332 1,136 84,170 449 Total income 122,468 2,500 124,968 84,619 Ex enditure on: Charitable activities 90,704 90,704 81,108 Net incoming resources before transfers 31,764 2,500 34,264 3,511 Gross transfers between funds 2,500 (2,500) Net income for the yearl Net movement in funds 34,264 34,264 3,511 Fund balances at 1 July 2023 151,663 151,663 148,152 Fund balances at 30 June 2024 185,927 185,927 151,663 The statement of financial activities indudes all gains and losses re¢ognised in the year. All income and expenditure derive from continuing activities.
WOODFORD WAR MEMORIAL COMMUNITY CENTRE BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Notes Fixed assets Tangible assets 11 88,849 56,498 Current assets Debtors Cash at bank and in hand 12 14,830 90.062 7,150 93,114 104.892 100,264 Creditors: amounts falling due within one year 13 (7,814) (5,099) Net current assets 97,078 95,165 Total assets less current liabilities 185,927 151,663 Income funds Unrestricted funds 185.927 151,663 185.927 151.663 The financial statements were approved by the Trustees on ......................... Mrs. J Craig Trustee
WOODFORD WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies Charity information Woodford War Memorial Community Centre is an unincorporated association constituted by a governing document. 1.1 Accounting convention The accounts have been prepared in accordan with the charity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)° (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Updats Bulletin 1 not lo prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports} Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling. which is the fijnctional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical Cost convention. The principal a¢UntIng policies adopted are set out below. 1.2 Going concem At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existen for the foreseeable ftjture. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset.
WOODFORD WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies Icontinued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, 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 classified by activty. The costs of each activity are made up of the total of dIrt costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributatAe to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistenl with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under heajings that aggregate all costs related to the category. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities, and those costs of an indirect nature ne$sary to support them. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases= Freehold land and buildings Plant and equipment 30A Reducing Balance and over 10 years Straight Line 200 Reducing Balan The gain or loss arising on the disposal of an asset is detemiined as the differen beeen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets At each reporting end date: the charity reviews the carying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents indude cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Finanaal Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instwment. Financial assets and liabilities are offset. wth the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
WOODFORD WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies Icontinued) Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or ServIS that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the eslimate is revised where the revision affects [lY that period, or in the period of the revision and future penods where the revision affects both current and future periods. There are no critical accounting estimates or judgements.
WOODFORD WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Donations and legacies Restricted funds Total 2024 2023 Donations and gifts 2,500 Investments unstrICted Unrestricted funds funds 2024 2023 Interest receivable 1,136 449 10-
) *
WOODFORD WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Charitable activities Icontinued) For the year ended 30 June 2023 Facilty rentsl Bonfire l)ther income Hire charges income Totsl 2023 Sales within charitable activities Other income 5,530 37.945 38,875 82,350 1,820 1,820 5,530 37.945 1.820 38,875 84.170 Charitable activities Community Bonfire cent Expenses 2024 2024 Total 2024 Community Bonfire cent Expenses 2023 2023 Total 2023 Depreciation and impairment Establishment costs Repairs, maintenance and caretsker Subscriptions and donations Sundry and other costs Cleaning Advertising and promotion Entertainment 14,569 17.268 14.569 17.268 7,635 20.771 7,635 20.771 29,686 29,686 32,220 32,220 1.384 1.842 6.098 1.384 16.428 6.098 354 1,065 1,229 354 16,657 1,229 14.586 15,592 645 2,100 645 2,100 345 345 73,592 14,586 88,178 63,619 15,592 79,211 Share of support costs (see note 7) Share of governan costs (see note 7) 654 654 157 157 1,872 1,872 1,740 1,740 76,118 14.586 90,704 65,516 15,592 81,108 12-
WOODFORD WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Support costs Support Governance costs costs 2024Support costs Govemance sts 2023 Office expenses 654 654 157 157 Accountants fees 1.872 1.872 1,740 1,740 654 1.872 2.526 157 1,740 1.897 Analysed between Charitable activities 654 1,872 2,526 157 1,740 1,897 Trustees None of the trustees (or any persons connected yth them) received any remuneration or benefits from the charity during the year. Employees There were no employees during the year. 10 Taxation The charity is exempt from tax on income and gains falling wthin section 505 of the Taxes Act 1988 or sedion 252 of the Taxation of Chargeable Gains Act 1992 to the exient that these are applied to its charitable objects. 11 Tangible fixed assets Freehold land and buildings Plant and equipment Total Cost At 1 July 2023 Additions 89,244 13,917 141.208 33.003 230,452 46.920 At 30 June 2024 103,161 174,211 277.372 Depreciation and impainnent At 1 July 2023 Depreciation charged in the year 53,559 3,806 120,395 10,763 173,954 14,569 At 30 June 2024 57.365 131.158 188.523 Carrying amount At 30 June 2024 45,796 43,053 88,849 At 30 June 2023 35,685 20,813 56,498 13-
WOODFORD WAR MEMORIAL COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 12 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Prepayments and accrued income 12,401 2,429 5,072 2,078 14,830 7,150 13 Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income 449 7,365 219 4,880 7,814 5,099 14 Related party transactions There were no related paty transactions to disdose during the year (2023 - nil). 14-