2024-12-31-accounts - Spring Bank Community Association

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Spring Bank Community Association

Charity No. 700591

Trustees' Report and Unaudited Accounts

31 December 2024

Spring Bank Community Association Statement of Financial Activities

for the year ended 31 December 2024

Unrestricted funds	Restricted funds	Total funds	Total funds
2024	2024	2024	2023
£	£	£	£

4,851	-	4,851	21,975
29,965	-	29,965	29,720
192	-	192	158
35,008	-	35,008	51,853

42,942	-	42,942	60,041
42,942	-	42,942	60,041
-	-	-	-
(7,934)	-	(7,934)	(8,188)
-	-	-	-
(7,934)	-	(7,934)	(8,188)

(7,934)	-	(7,934)	(8,188)

43,554	16,567	60,121	68,309
35,620	16,567	52,187	60,121

Page 1

Spring Bank Community Association Balance Sheet

at 31 December 2024

Charity No. 700591 Fixed assets Tangible assets 9 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 10 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 11 Restricted income funds Unrestricted funds 11 General funds Reserves 11 Total funds	2024 £ 35,638 35,638 17,269 17,269 (720) 16,549 52,187 52,187 52,187 16,567 16,567 35,620 35,620 52,187	2023 £ 38,226
		38,226 23,809
		23,809 (1,914)
		21,895 60,121
		60,121
		60,121
		16,567
		16,567 43,554
		43,554
		60,121

Approved by the trustees on 30 October 2025

And signed on their behalf by:

L. Moore Trustee 30 October 2025

Page 2

Spring Bank Community Association Notes to the Accounts

for the year ended 31 December 2024

1 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 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) 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.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount 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 SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies 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 quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 3

Spring Bank Community Association Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure 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 activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable 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.
Governance costs These include those costs associated with 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 particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses 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 items of stock are recognised 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. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise 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 liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts 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 transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 4

Spring Bank Community Association Notes 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 at the 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 classified as operating leases.

Assets held under finance leases are initially recognised as 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 balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the 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 contribution 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, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 5

Spring Bank Community Association Notes to the Accounts

2 Statement of Financial Activities - prior year

2 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Charitable activities Investments Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Grants Utility Subsidies	Unrestricted funds 2023 £ 21,975 29,720 158 51,853 60,041 60,041 (8,188) (8,188) (8,188) 51,742 43,554 Unrestricted £ 341 4,510 4,851	Restricted funds 2023 £ - - - - - - - - - 16,567 16,567 Total 2024 £ 341 4,510 4,851	Total funds 2023 £ 21,975 29,720 158
			51,853 60,041
			60,041
			(8,188)
			(8,188)
			(8,188) 68,309
			60,121
			Total 2023 £ 13,000 8,975
			21,975

Donated goods, facilities and services received
Grants Utility Subsidy		Total 2024 £ - 4,510 4,510	Total 2023 £ 13,000 8,975
			21,975

Page 6

Spring Bank Community Association Notes to the Accounts

4 Income from charitable activities

Room Hire 5 Income from investments Deposit Account Interest Received 6 Other expenditure Employee costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 7 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 8 Staff costs Salaries and wages	Unrestricted £ 29,965 29,965 Unrestricted £ 192 192 Unrestricted £ 23,313 12,211 2,588 4,110 720 42,942 2024 £ 2,588 2024 23,289 23,289	Total 2024 £ 29,965 29,965 Total 2024 £ 192 192 Total 2024 £ 23,313 12,211 2,588 4,110 720 42,942	Total 2023 £ 29,720
			29,720
			Total 2023 £ 158
			158
			Total 2023 £ 35,165 16,930 3,043 4,189 714
			60,041
			2023 £ 3,043 2023 34,452
			34,452

No employee received emoluments in excess of £60,000.

Page 7

Spring Bank Community Association Notes to the Accounts

9 Tangible fixed assets

	£ 20,972 20,972 - - - 20,972 20,972 2024 £	£ 78,794 78,794 61,540 2,588 64,128 14,666 17,254	£ 99,766
			99,766
			61,540 2,588
			64,128
			35,638
			38,226
			2023 £
	720		1,914
At 1 January 2024 16,567 16,567 43,554 60,121	720 Incoming resources (including other gains/losses ) £ - - 35,008 35,008	Resources expended £ - - (42,942) (42,942) Unrestricted funds £ 35,638 16,549 52,187	1,914
			At 31 December 2024 £ 16,567
			16,567
			35,620
			52,187
			Total £ 35,638 16,549
			52,187

Page 8

Spring Bank Community Association Notes to the Accounts

13 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents Net debt	At 1 January 2024 £	Cash flows £	At 31 December 2024 £
	23,809	(6,540)	17,269
	23,809 23,809	(6,540) (6,540)	17,269
			17,269

Page 9

Spring Bank Community Association Statement of Cash flows for the year ended 31 December 2024

Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Decrease in trade and other receivables (Decrease)/Increase in trade and other payables Net cash used in operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2024 £ (7,934) 2,588 (192) - (1,194) (6,732) 192 192 - (6,540) 23,809 17,269	2023 £ (8,188) 3,043 (158) 174 162
		(4,967) 158
		158

		-

		(4,809)
		28,618
		23,809

Components of cash and cash equivalents
Cash and bank balances	17,269	23,809

	17,269	23,809

Page 10

Spring Bank Community Association Detailed Statement of Financial Activities

for the year ended 31 December 2024

Income and endowments from: Donations and legacies Grants Utility Subsidies Charitable activities Room Hire Investments Deposit Account Interest Received Total income and endowments Expenditure on: Employee costs Salaries/wages Staff training Premises costs Rent Light, heat and power Premises cleaning General administrative costs, including depreciation and amortisation Depreciation of Equipment repairs and maintenance General insurances Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure	Unrestricte d funds 2024 £ 341 4,510 4,851 29,965 29,965 192 192 35,008 23,289 24 23,313 864 9,073 2,274 12,211 2,588 402 96 742 159 1,328 1,383 6,698 720 720 42,942 42,942	2024 £ - - - - - - - - - - - - - - - - - - - - - - - - - - -	Total funds 2024 £ 341 4,510 4,851 29,965 29,965 192 192 35,008 23,289 24 23,313 864 9,073 2,274 12,211 2,588 402 96 742 159 1,328 1,383 6,698 720 720 42,942 42,942	Total funds 2023 £ 13,000 8,975
				21,975
				29,720
				29,720
				158
				158
				51,853 34,452 713
				35,165
				- 15,681 1,249
				16,930
				3,043 1,429 94 680 157 794 1,035
				7,232
				714
				714

				60,041
				60,041

Page 11

Spring Bank Community Association Detailed Statement of Financial Activities

Spring Bank Community Association Detailed Statement of Financial Activities
Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	- (7,934) (7,934) - (7,934) 43,554 35,620	- - - - - 16,567 16,567	- (7,934) (7,934) - (7,934) 60,121 52,187	-
				(8,188)
				(8,188) -
				(8,188)
				68,309
				60,121

Page 12