2025-03-31-accounts - Community Association Norton

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due to eOrS on their part took substantial effort to resolve. They are at this point both sorted though we are still carrying a credit of some £1100 into 2024-5 financial year on the Water Plus account. The only other major issue is the question of Community Asset Transfer from DMBC to the Community Association of Norton or the creation of an operating lease for the site. We will cover our current position on this matter following standard AGM issues. Other4vise thanks to those who have helped run the centre effectively for another year. Financial Report MT provided a copy of the accounts and then went through an oveniiew of the accounts for 2023-2024. Approved by KH seconded by NF. On the whole the centre is doing well with a moderate increase in the overall balance. Income from room hire has increased whilst most expenses have remained consistent with previous years. The cleaners, wages had increased in line with cost of living. We continue to only have one paid member of staff, everyone else involved with the centre are volunteers. There was no capital expenditure this fsnancial year. Note 1: Water, DN explained about the issues regarding the water meter. We now have a massive credit but unfortunately can't claim anything back because at the present time we have no idea how much water we are using and therefore what we should be paying. It now turns out the meter is faulty and will need replacing. Note 2: The bank balance is reasonably high this is due to the UnrtaintY over the lease. We are aware that should be take on an internal lease there will be multiple costs which we will have to take on and it is unclear at the present time if this will be covered by the cuent income from bookings. Therefore, it was agreed that it would be advisable to have a surplus in the account to ensure we could support the centre in the first few years whilst we readjust our pricinglattract new hirers. Bookings Report RNC informed the group that bookings continue to doing very well with several new groups starting. We have lost two groups, Shaw Trust whose project came to an end and a fitness group. Due to the increase in bookings hirers fees will remain the same for the foreseeable future. Many thanks went to JW, DN & NF for helping to open up the centre for various groups.

COMMUNrrY ASSOCIATION OF NORTON RECEIPTS & PAYMENTS ACCOUNT FOR THE YEAR ENDING 31ST MARCH 2025 2023-24 202ty25 RECEIPTS 23,803.21 432.34 ROOM HIRE Inlerest from Coventry Building Society 26,722.00 438.37 24,235.55 TOTAL RECEIPTS 27,160.37 EXPENDITURE 1,251.11 2,423.81 83.88 548.57 4,270.00 441.43 Electricity Supply (Eon) Gas Supply (EON) Repairs Waste Disposal (DMBC) Cleaners Cleaning Products Caretaker expenses Insurance Window Cleaninq Fire Extinguisher S8rvice Performing Rights I PPL Admin Costs Miscellaneous PAC Testing Severn Trent Water I Wat8r plus Capital Expenditure Bank Charges 1,524.77 2,354.39 92.99 587.00 4,380.00 587.93 514.38 60.00 248.40 194.42 6.00 33.42 574.92 203.40 266.28 130.89 162.39 9.816.20 80.36 Note 1 78.80 20,134.37 10,781.37 4,101.18 Surplus l (Deficit) for Year 16,379.00 43,982 Opening Balance at 1st April 48,066.00 48.066.00 Total Accumulated Surplus at 31st March 64,445.00 resented b 32,714.26 15.351.74 HSBC Current Account Coventry Building Soclety 48,654.89 15.790.11 48,066.00 64.445.00