Spring Bank Community Assoclation Charity No. 700591 Trustees, Report and Unaudited CoUnts 31 December 2023
Spring Bank Community Association Contents Pages Trustees, Annual Report Statement of Financial Activities 2to3 Balance Sheet Statement of Cash flows 13 Notes to the Accounts 6t012 Detailed Statement of Financial Activities 14to15 Page I
Spring Bank Community Association Trustees Annual Report The Trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2023. REFERENCE AND ADMINISTRATIVE OETAILS Charity No. 700591 Trustees The following Trustees served during the year: Victoria Start- Chairperson Fayka Abdo - Vice Chairperson Steven Highams- Secretary Lee Moore - Treasurer Management Committee Members: Maurice Campbell Ryan start Zakkary Campbell Mohammad Younus Lorralne Start Mark Lowsley Hamad Mustafa Gordan Mccann Gene Mccann Maxine Joyce JIM Robinson Linda Findlay Accountants Intuitive Accounting Unit G7, The Bloc 38 Springfield Way Anlaby Hull HUIO 6RJ Page 2
Spring Bank Community Association Trustees Annual Report Annual Report 2023 was a really hard year for the community centre, the year saw the centre lose 3 strong figureheads all in l year. This included the Treasurer, Chairperson and the long standing centre manager that had all been working tO8ether for 15 or more years. These members were always the driving force of all our activities, events and forward thinking. Losing these member5 meant that it was a challenging year, however as always resilience prevailed and we still kept our doors open and money coming in from various sources. While fundraising hasn't been as successful as previous year5 the centre has relied on its strong relationships that were built over the past decade, our room hires stuck by us and got US through this challengin8 transitional period and we thank every person that helped us along the way. I hope that as a community we can continue to seNe and deliver seniices, alongside rooms hire that is much needed. We continue to be the base of Prince's Trust who provide young people with valuable life skills and training, through their TEAM programme. We host Hull Cheerleading Academy who work with children of all ages. We have various church groups who use our facilities and we are still supported The Peel Project with events and weekly family and child services. Over the last year we have gained an ESOL cla55, teaching people English and supporting community cohesion and collaboration. We have also hosted a weekly customer ser4ices drop in for Hull City Council, and the NHS service5 induding carer's support. We have also had a bi-weekly Citizens Advice service, Throughout the year we have assisted and supported many cultural organisatlons, and in the summer we were host to Hull International Carnival. Alongside all of this we continue to assist the local community and afar with IT advice and guidance, supportin8 Wlth everything from simple letter typing to assisting with benefit claims, online training, one to one training in a wide engage of area5 and signposting to other sep4ice5 and training courses. We are continuously looking for new opportunities and we would welcome anybody to come speak to us with their ideas. We look fonNard to the next challenges that come our way and we will strive to continue the work previously undertaken, but to also look to the future and to continue building the legacy of Spring Bank Community Association. Statement of trustees, responsibilitles Sn relation to the financial statements The charity trustee5 are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The Trustees are responsible for keeping proper accounting record5 that disclose with reasonable accuracy at any time the financial position of the charity and to 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. The Trustees are also responsible forsafe8uarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the charity's trustees L. Moore Trustee Page 3
Spring Bank Community Association Statement of Financial Activities for the year ended 31 December 2023 Unrestricted funds 2023 Restricted funds Total funds Total funds 2023 2023 2022 Notes Income and endowments from: Donations and legacies Charitable activities 21,975 29,720 158 21,975 29,720 158 44,432 23,470 29 Investments Total 51,853 51,853 67,931 Expenditure on: Other 60,041 60,041 67,986 Total 60,041 60,041 67,986 Net gains on investments Net expendSture Transfers between funds {8,188) 18,188) 155} Net expendlture before other gains/(losses) 18,188) (8,188) (55) Other gains and losses Net movement In funds (8,188) 18,188) {55} Reconciliation of funds: Total funds brought forward 51,742 16,567 68,309 68,364 Total funds carried forward 43,554 16,567 60,121 68,309 Page 4
Spring Bank Community Association Balance Sheet
at 31 December 2023
| Spring Bank Community Association Balance Sheet at 31 December 2023 |
|||
|---|---|---|---|
| Charity No. 700591 | 2023 | 2022 | |
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 9 | 38,226 | 41,269 |
| 38,226 | 41,269 | ||
| Current assets | |||
| Debtors | 10 | 174 | |
| Cash at bank and in hand | 23,809 | 28,618 | |
| 23,809 | 28,792 | ||
| Creditors:Amount falling due within one year | 11 | (1,914) | (1,752) |
| Net current assets | 21,895 | 27,040 | |
| Total assets less current liabilities | 60,121 | 68,309 | |
| Net assets excluding pension asset or liability | 60,121 | 68,309 | |
| Total net assets | 60,121 | 68,309 | |
| The funds of the charity | |||
| Restricted funds | 12 | ||
| Restricted income funds | 16,567 | 16,567 | |
| 16,567 | 16,567 | ||
| Unrestricted funds | 12 | ||
| General funds | 43,554 | 51,742 | |
| 43,554 | 51,742 | ||
| Reserves | 12 | ||
| Total funds | 60,121 | 68,309 |
Approved by the trustees on 17 September 2024
And signed on their behalf by: (QQ L. Moore Trustee
17 September 2024
Pages
Spring Bank Community Association Notes to the Accounts for the year ended 31 December 2023 l Accounting policies Basis of preparation The financial statements have been prepared in accordance with 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 if Ireland {FRS 102} issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 1021 and the Charities Act 2011. Change in basis of accounting or to prevlous accounts There has been no change to the accounting policies (valuation rules and method of accountln8) since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their rnarket values. These are available for use subject to restrictions Imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Flnancial Attivities1SoFAI when the charity becomes entitled to, and virtually certain to receive, the income and the arnount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SOF Donations and legacies Voluntary income received by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims Is included in the SOFA at the same time as the donations and gifts gift/donation to which It relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantlfiable, rneasurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the account5 when receivable. Gains/llossesl on This includes any gain or loss resulting frorn revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/llossesl on investment assets This includes any gain or loss on the sale of investments. Page 6
Spring Bank Community AssocÉation Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management Costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable actlvltles services in the furtherance of its objects, including the making of grants and governance costs. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated wlth meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a partlcular activity. Grants payable Governance costs Taxation The charity is exempt from tax on its charitable activities. Freehold Investment property Investment propertie5 are measured initially at cost and subsequently at fairvalue at each balance sheet date and are not depreciated. All gains or10sses are taken to the Statement of Financial Activities as they arise. Stocks Stock Is included at the lower of cost or net realisable value. Donated iterns of stock are reco8nised at fair value which Is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayrnents are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equlvalents comprlse cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilitie5. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdraft5 that are repayable on demand and form an integral part of the company's cash management. Trade and other creditors Short term creditors are measured at the transactlon price. Other creditors and provisions are recognised where the cha rity has a present obligation resulting from a past event that will probably result in the transferof funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are nomially recognised at their settlement amount after allowing for any trade discounts due. Page 7
Spring Bank Community Association Note5 to the Accounts Research and development Expenditure on research and development is written off in the year in which it is incurred. Foreign currencies Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing atthe end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. Leased assets Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classif led as operating leases. Assets held under finance leases are initially recognised a5 assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balan sheet date as a flnance lease obligation, Lease payments are apportioned between flnance expenses and reduction of the lease obligation so as to achleve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediatelyi unless they are directly attributable to quallfying assets, In which case they are capltalised in accordance with the charity's policy on borrowing Costs. Assets held underfinance leases are depreciated in the same way as owned a55ets. Operating lease payments are recognised as an expense on a stralght-line basis overthe lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability, The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. Pension costs The charity operates a defined contributlon plan for its employees. A defined contribution plan Is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds. Receipt of donated goods. facllities and services All donated goods, facilities and service5 received are recognised within incoming resources and expenditure at an estimate of the value to the charity. Page 8
Spring Bank Community Association Notes to the Accounts 2 Statement of Financial Activities - prior year Unrestrlcted funds Restricted funds Total funds 2022 2022 2022 Income and endowments from: Donations and legacies Charitable activities 44,432 23,470 29 44,432 23,470 29 Investments Total 67,931 67,931 Expenditure on: Other 67,986 67,986 Total 67,986 67,986 Net income 1551 155) Net income before other gainslllosses) Other gains and losses: Net movement in funds (55) (55) {55) {551 Re¢onclliation of funds: Total funds brought forward Total funds carried forward 51,797 16,567 68,364 51,742 16,567 68,309 3 Income from donations and legacies Unrestricted Total Total 2023 2022 Grants 13,000 8,975 21,975 13,000 8,975 21,975 40,647 3,785 44,432 Utillty Subsidies Donated goods, facilities and services received Total 2023 Total 2022 Grants utility Subsidy 13,000 8,975 21,975 40,647 3,785 44,432 Page 9
Spring Bank Community Association Notes to the Accounts 4 Income from charitable artivities Unrestricted Total Total 2023 2022 Room Hire 29,720 29,720 29,720 29,720 23,470 23,470 5 Income from inve5tment5 Unrestricted Total 2023 Total 2022 Deposit Account Interest Recelved 158 158 29 158 158 29 6 Other expendlture UnrestrScted Total 2023 Total 2022 Employee costs Motor and travel costs 35,165 35,165 47,637 30 Premises costs Amortlsatlon, depreciation, impairment, profitlloss on disposal of fixed assets General adm inistrative costs Legal and professional costs 16,930 16,930 8,345 3,043 3,043 3,531 4,189 714 4,189 714 7,747 696 60,041 60,041 67,986 7 Net expenditure before transfers 2023 2022 Thls Is stated after charging: Depreciation of owned fixed assets 8 Staff costs 3,043 3,53 1 2023 34,452 34,452 2022 Salaries and wages 47,513 47,513 No employee received emoluments in excess of £60,000. Page 10
Spring Bank Community Association Notes to the Accounts 9 Tangible fixed assets Cost or revaluation At l January2023 At 31 December 2023 Depreciation and impairment At l January 2023 Depreciation charge for the year At 31 December 2023 20,972 20,972 78,794 78,794 99,766 99,766 58,497 58,497 3,043 3,043 61,540 61,540 Net book values At 31 December 2023 At 31 December 2022 10 Debtors 20,972 20,972 17,254 20,297 38,226 41,269 2023 2022 Other debtors 174 174 11 Credltors: amounts fallin8 due within one year 2023 2022 Accruals 1,914 1,914 1,752 1,752 12 Movement In funds Incoming resources (including other At l January gains/losses 2023 At31 December 2023 Resources expended Restricted funds: Restrlcted income funils: 16,567 16,567 Tott7J 16,567 16,567 Unrestricted funds: General funds 51,742 51,853 (60,041) 43,554 Total funds 68,309 51,853 {60,0411 60,121 Page 11
Spring Bank Community Association Notes to the Accounts 13 Analysis of net assets between funds Unrestricted funds Total Fixed a5setS Net current assets 38,226 21,895 60,121 38,226 21,895 60,121 14 Reconciliation of net debt At31 December 2023 At l January 2023 Cash flows Cash and cash equivalents 28,618 28,618 14,8091 (4,809} 23,809 23,809 Net debt 28,618 (4,809} 23,809 PaEe 12
Spring Bank Community Association statement of Cash flows for the year ended 31 December 2023 2023 2022 Cash flows from operating activities Net expenditure per Statement of Financial Activities (8,188) 155) Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Decrease in trade and other receivables Increase In trade and other payables 3,043 11581 174 3,531 1291 162 Net cash {used in)/provided by operating activities {4,9671 3,447 Cash flows from investing activlties Dividends, Interest and rents from Investments 158 29 Net cash from/(used In) InvestinE activities 158 {2,8361 Net cash from finantin8 activitles Net {decrease)fincrease in cash and cash equivalents {4,809) 611 Cash and cash equivalents at the beglnning of the year 28,618 28,007 Cash and Cash equlvalents at the end of the year 23,809 28,618 Components of cash and cash equivalents Cash and bank balances 23,809 28,618 23,809 28,618 Page 13
Spring Bank Community Association Detailed Statement of Financial Activities for the year ended 31 December 2023 Unrestricte d funds 2023 Totsl funds Total funds 2023 2022 2023 Income and endowments from: Donations and legacies Grants Utility Subsidies 13,(K)O 8,975 21,975 13,000 8,975 21,975 40,647 3,785 44,432 Charitable activities Room Hire 29,720 29,720 29,720 29,720 23,470 23,470 Investments Deposit Account Interest Received 158 158 158 29 29 158 Total income and endowments 51,853 51,853 67,931 Expendlture on: Employee costs Salaries/wages staff tralning 34,452 713 34,452 713 35,165 47,513 124 47,637 30 30 35,165 Vehicles - Fuel Premises costs Light, heat and power Premises cleaning 15,681 1,249 16,930 15,681 1,249 16,930 8,087 258 8,345 General administrative costs, Including depreciation and amortisation Depreciation of Equipment repairs and maintenance General insurances Stationery and printing Su bscri ptions Sundry expenses Telephone, fax and broadband 3,043 3,043 3,531 1,429 1,429 2,476 94 680 157 794 1,035 7,232 94 680 157 670 159 157 794 1,035 7,232 3,332 953 11,278 Legal and professional costs Accountancy and bookkeeping 714 714 696 714 714 696 Total of expenditure of other costs 60,041 60,041 67,986 Page 14
Spring Bank Community Association Detailed Statement of Financial Activities Total expenditure Net gains on investments 60,041 60,041 67,986 Net expenditure 18,188) (8,188) {55) Net expenditure before other gains/(losses) Other Gains {8,188) {8,1881 155) Net movement in funds {8,188) 18,1881 (55) Reconciliation of funds: Total funds brought forward 51,742 16,567 68,309 68,364 Total funds carried forward 43,554 16,567 60,121 68,309 Page 15