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