Charity registration number 1069487
Company registration number 03438805 (England and Wales)
EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
CONTENTS
Page
Trustees report
1 - 2
Statement of trustees responsibilities
3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Notes to the financial statements
7 - 11
EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Chairman
Mr Clive Stock
Trustees
Mr Clive Stock
Mrs Lorraine Durnford
Miss Sue Line
Mrs Ann Gardiner
Mrs Julie Jones
Mrs Christine Titley
Mrs Susan Stock
Mrs Michelle Leivers
(Appointed 1 January 2023)
Mrs Charlotte Cooperthwaite
(Appointed 1 January 2023)
Secretary
Mrs Julie Jones
Charity number
1069487
Company number
03438805
Registered office
26 Exhall Green
Exhall
Coventry
Warwickshire
United Kingdom
CV7 9GL
Independent examiner
McGlone Wardzynski Limited
Eagle House
14 Queens Road
Coventry
CV1 3EG
Bankers
HSBC Bank
3a Queens Road
Nuneaton
Warwickshire
CV11 5JL
EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 1 -

The trustees, who are directors for the purpose of company law, present the annual report together with the financial statements of the charitable company for the year ended 30 September 2023.

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 governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Objects and aims

The charity operates the centre as a community facility for the benefit of the local and wider area. Our main operation is to let out rooms to local clubs, associations and groups, providing a safe and well run centre.

Significant activities

The main activities are to let out a section of rooms and hall to the local community, for example dance schools, bowling club, health and leisure groups, musical society, art, photography etc....

 

Our purpose as a charity, as overseen by our committee, is to keep a careful eye on the charity guidance on public benefit.

Use of volunteers

The charity operates without any paid employees and is run solely through the time given by volunteers.

Achievements and performance

We have kept the centre operating within our aims, whilst making savings on running costs by keeping a close watch on costs and negotiating for better rates and quality of services provided by us.

Financial review

The Community Centre has not yet returned to its pre-pandemic revenue levels. However, despite this, we have managed to achieve a rise in our total income of 5%. Welcomed by a rise in interest in the snooker facilities that we provide at the centre.

 

Following on from last year, we continued in our aim of the centre to be self-sufficient which we achieved without the requirements to apply for any grants and have once again maintained a relatively healthy financial position.

 

During the year we made efforts to improve certain areas of the centre. As a result, the major expenses incurred by the centre were on building works including internal renovations of 'room 2' and the renewal of the hall flooring.

 

The Community Centre has achieved its aims and has seen positive changes in 2023. The balance sheet has maintained it's adequate cash reserves, maintained above it's reserves policy and at present there are no going concern issues.

 

Policy on reserves

We ensure that we hold sufficient funds to reserve so that ongoing routine maintenance can be carried out. We consider that the ideal level of reserves as at 30th September 2023 would be £10,000.

Structure, governance and management

Nature of governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of trustees

Recruiting new trustees is carried out verbally when attending the local residential club and events.

EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 2 -

Major risks and management of those risks

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The charity is managed by a full committee of nine members, who meet regularly on a six week basis to discuss activities and make decisions.

 

The charity holds policies for Health & Safety, Lettings and Environmental.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

The trustees report was approved by the Board of Trustees.

Mr Clive Stock
Trustee
Dated: 18 January 2024
EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
STATEMENT OF TRUSTEES RESPONSIBILITIES  
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -

The trustees, who are also the directors of Exhall Old School Community Association Ltd for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
- 4 -

I report to the trustees on my examination of the financial statements of Exhall Old School Community Association Ltd (the charity) for the year ended 30 September 2023.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (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 examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns 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.

James Rose FMAAT
Eagle House
14 Queens Road
Coventry
CV1 3EG
Dated: 19 January 2024
EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 5 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:
Charitable activities
3
23,595
22,357
Expenditure on:
Charitable activities
4
28,521
26,490
Net expenditure for the year/
Net movement in funds
(4,926)
(4,133)
Fund balances at 1 October 2022
100,367
104,500
Fund balances at 30 September 2023
95,441
100,367

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 6 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
10
88,192
78,614
Current assets
Debtors
11
1,569
1,493
Cash at bank and in hand
6,280
20,860
7,849
22,353
Creditors: amounts falling due within one year
12
(600)
(600)
Net current assets
7,249
21,753
Total assets less current liabilities
95,441
100,367
Income funds
Unrestricted funds
95,441
100,367
95,441
100,367

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 18 January 2024
Mr Clive Stock
Trustee
Company registration number 03438805
EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
1
Accounting policies
Charity information

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees are liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

 

The address of its registered office is:

26 Exhall Green

Exhall

Coventry

Warwickshire

CV7 9GL

1.1
Accounting convention

Statement of compliance

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102. They also comply with the Companies Act 2006 and Charities Act 2011.

 

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Basis of preparation

Exhall Old School Community Association Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accountancy policy notes.

 

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

 

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

1.2
Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

1.3
Charitable funds

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements

1.4
Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 8 -

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

1.5
Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable activities

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 necessary to support them.

1.6
Tangible fixed assets

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Freehold land and buildings
no depreciation
Plant and equipment
15% straight line
Fixtures and fittings
15% straight line
1.7
Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.8

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates 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 estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 9 -
3
Charitable activities

Unrestricted funds General

Unrestricted funds General

2023
2022
£
£

Rent received

22,821
21,665

Fundraising events

774
692
23,595
22,357
4
Charitable activities

Community centre

Community centre

2023
2022
£
£
Depreciation of plant and machinery
1,068
1,058

Depreciation of fixtures and fittings

2,302
600

Water rates

824
607

Cleaning and waste

2,991
1,981

Power, light and heat

6,102
3,023

Repairs and maintenance

2,692
7,376

Caretaker

7,777
7,989

Insurance

1,634
1,502

Travelling expenses

24
2

Subscriptions

387
387

Accountancy

600
570

Printing and stationery

319
142

Telephone

967
840

Sundry expenses

561
175

Bank charges

123
88
28,371
26,340
Share of governance costs (see note 5)
150
150
28,521
26,490
EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 10 -
5
Support costs
Support costs
Governance costs
2023
2022
£
£
£
£

Independent examiners fee

-
150
150
150
-
150
150
150
Analysed between
Charitable activities
-
150
150
150

 

6
Trustees

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

 

No trustees have received any reimbursed expenses for using their personal vehicle or belongings or any other benefits from the charity during the year.

7
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
9
7
There were no employees whose annual remuneration was more than £60,000.
8

Independent examiner's remuneration

2023
2022
£
£
Examination of the financial statements
150
150
9
Taxation

The charity is a registered charity and is therefore exempt from taxation.

 

 

EXHALL OLD SCHOOL COMMUNITY ASSOCIATION LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 11 -
10
Tangible fixed assets
Freehold land and buildings
Improvements to property
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
£
Cost
At 1 October 2022
70,000
3,924
23,554
14,754
112,232
Additions
-
-
255
12,695
12,950
At 30 September 2023
70,000
3,924
23,809
27,449
125,182
Depreciation and impairment
At 1 October 2022
-
-
19,264
14,354
33,618
Depreciation charged in the year
-
-
1,068
2,304
3,372
At 30 September 2023
-
-
20,332
16,658
36,990
Carrying amount
At 30 September 2023
70,000
3,924
3,477
10,791
88,192
At 30 September 2022
70,000
3,924
4,290
400
78,614
11
Debtors
2023
2022
Amounts falling due within one year:
£
£
Prepayments and accrued income
1,569
1,493
12
Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
600
600
13
Analysis of net assets between funds
Unrestricted funds
Unrestricted funds
2023
2022
£
£
Fund balances at 30 September 2023 are represented by:
Tangible assets
88,192
78,614
Current assets/(liabilities)
7,249
21,753
95,441
100,367
14
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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