REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Earley Crescent Community Association |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Earley Crescent Community Association |
Earley Crescent Community Association |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Report of the Trustees | 1 | to | 6 |
Independent Examiner's Report | 7 |
Statement of Financial Activities | 8 |
Balance Sheet | 9 |
Notes to the Financial Statements | 10 | to | 16 |
Earley Crescent Community Association (Registered number: 04383491) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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 |
Objectives and aims |
1. Promote the benefit of the inhabitants of Earley and the surrounding area without distinction of sex, sexual orientation, race or political, religious or other opinions, by associating together the said inhabitants to provide facilities in the interests of the social welfare recreation and leisure-time occupation with the object of improving the conditions of life of the said inhabitants. |
2. Establish, or secure the establishment of, a Community Resource Centre and to maintain and manage the same in furtherance of these Objects. |
3. Promote the advancement of education, the protection of health and the relief of poverty, sickness, and distress, in particular by the provision of information and learning centres. |
4. Promote such other charitable purposes as may from time to time determine. |
Significant activities |
The main activities undertaken in relation to the above objects and to further the charity's purposes for the public benefit are as follows: |
The Charity owns and operates the CResCent Resource Centre which is designed to meet the needs of voluntary and community organisations, charities, and individuals primarily within the locality, but without any other restrictions. Room and hall hire are available for other charities, community, and voluntary organisations and for leisure, educational and health activities. The Neighbourhood Learning Centre is a multipurpose training room for computer based and other courses of interest to the public. Support and training are given to voluntary and community organisations that provide support to persons of limited means and direct support to individuals. The CResCent Moon Café is open providing tea, coffee, and soft drinks to the general public as well as an informal meeting place and exhibition area. The Centre has an Information Desk providing local community-based information on a wide range of subjects such as health, education, community activities and details for carers and the disabled. |
Further details of the Association's activities can be seen on the website: |
www.earleycrescent.org. |
Public benefit Statement |
In exercising their duties to achieve the objects of the Charity as set out above, the directors have paid due regard to the Charity Commissioners' guidance on public benefit in deciding what the activities should be. |
Volunteers |
We are now beginning to work toward pre-pandemic levels, so our Volunteer base has increased. Also, our training programme has fully resumed. It is estimated that some 4,800 hours of voluntary work were carried out, valued at £54,900 based on statutory minimum pay for over 22-year-olds. |
Earley Crescent Community Association (Registered number: 04383491) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
ACHIEVEMENT AND PERFORMANCE |
The following are the major achievements of the Charity during the reporting period in fulfilling its objectives and duty of public benefit. |
The centre remains a permanent home for some local groups including Optalis Ltd (a day service for adults with learning disabilities), sadly this service ceased at the end of March due to funding issues within their organisation. The Reading Church of Christ, Earley Bus, Value Learning, X-Pert Diabetes Education, Susan Daughtrey Education, Yoga, Line dancing, Macmillan Cancer Support, Queen Victoria Institute, Achieving for Children, Reading Advice Network, and Pebblestone Counselling. Other local charitable and activity groups attend regularly, and there are many one-off community events including bookings for polling station, and Local Authority use. |
Continuing partnership with the Local authority and Department for Works and Pensions for the provision of their information. |
Promotion of the centre through a diverse range of marketing, including our own up-to-date website and regular press coverage. Permanent advert in libraries, various newsletters, Earley Town Guide, ClickBerkshire, Family Grapevine, Wokingham Word, Facebook, Instagram. |
Continued commitment from volunteers, with new volunteers joining. They bring a diverse range of skills to the association. Success in attracting new volunteers is largely due to the success of the Centre and the training and support given. |
Provision of wide-ranging training opportunities both for local people and voluntary sector groups including first aid, confidence building and employability. |
To support local people, in partnership with The National Careers Service, we have further continued our Careers Advisory Service providing one to one information and advice sessions on learning and work. This complements our existing work skills programme, and our range of courses include information and advice on learning and work, CV writing, interview preparation, interview skills, group interview skill, and job search using social networking. We are currently working with nine major employers who support us in delivering mock interviews to give the most recent and relevant tips on how to conduct themselves to the best of their advantage. |
To assist members of the community seeking employment we have continued a partnership with both Reading and Bracknell Job Centres to ensure all current information is available in the Centre, which compliments the careers advice already available at Crescent as mentioned in the previous paragraphs. |
Engaging 400+ inactive learners in an informal and supportive environment. |
Engaging vulnerable, disabled, and isolated groups in a range of training. |
Partnership working with other local agencies such as Bracknell and Wokingham College, Local and District Councils, Mencap, Earley Years & Childcare, local Church groups, Optalis Ltd, Wokingham Volunteer Centre, Wokingham Borough Children's Centre, Wokingham Borough Community Mental Health Team, Dementia Awareness Alliance, Berkshire Carers Hub, New Directions Reading, Reading Libraries, Reading Advice Network, Autism Berkshire, Whitley Wood Community Association, Reading Refocus, Alana House, Day Compass Services and Clasp |
The centre is continuously held up as an example of good design and working practice by many organisations. We have been asked for advice by other groups starting similar projects elsewhere and involved with consultations regarding Transport, Health, Mental Health, Public Transport Infrastructure and Local Development Plan. |
Provision of two computers for public use. |
Up to date software in the Neighbourhood Learning Centre training room and the public-use computers. |
Area of benefit includes Greater Reading and widened partnerships to publicise our services with Elevate Reading, New Directions, and Prospect Park. |
Renew and up-date all course paperwork, marketing, and publicity annually, including Matrix qualification. |
Earley Crescent Community Association (Registered number: 04383491) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
FINANCIAL REVIEW |
Financial position |
Room hire has continued to be effected by the change in working conditions and reduced funding for other charities. We are actively engaging with the community to promote the space, but in the current climate, small charities and social groups are under severe financial pressure. |
Optalis Ltd further reduced their room hire in December 2023 which resulted in a huge financial loss, making their total hire to only 10% of our total income. They then gave notice to terminate their occupancy from 31 March 2024. |
We finished the year with an unrestricted deficit of £22,921which is satisfactory in the circumstances and within our budget. |
Referring to the Neighbourhood Learning Centre restricted funds are set out in note 12. |
Referring to the Crescent restricted funds, The Earley Charity continued to fund the Association Manager's employment and pension costs . After deducting amortisation of £19,308 there was a nominal building fund surplus of £660,145 |
In all, The Earley Charity's grants amounting to £70,822 and £39,178 were of vital importance in enabling us to provide our services to Earley and the neighbourhood. The directors are most appreciative of these major contribution to our success. |
Future Prospects |
The reduction/cessation of hall/office hire of Optalis Ltd has made a huge impact on our income. Although we are actively engaging with our community to promote the space, this is incredibly difficult as many other charities and social groups are under severe financial pressure. The Earley Charity has now taken over an office space which replenishes the income lost by Optalis Ltd. However, we are currently 21% down on last year. |
Regarding the Neighbourhood Learning Centre, the basic Earley Charity grant of £70,822 an increase from £61,000. However, there will be increased costs this year leading to a prospective deficit of some £16,000 which can be covered from our Training reserves |
One area in which we are experiencing an increasing demand is for courses on basic and follow-up English. This is for the benefit of an increasing number of Chinese immigrants from Hong Kong, and refugees from Afghanistan and Ukraine. Every effort is being made to offer our services to these people including attendance to support groups and other partner organisations. The courses are provided free of charge and funded out of the Earley Charity grant. |
Reserves Policy |
The Policy is based on the difference between the current assets and current liabilities (i.e. working capital) as appearing in the Balance Sheet at the end of the financial year as detailed below. |
Crescent Resource Centre (Unrestricted Funds) |
To maintain a surplus of current assets over current liabilities (i.e., working capital) of £40,000 in respect of unrestricted funds.This figure is equal to approximately four months normal total turnover and is considered the appropriate level in view of the fact that much of the Association's income is in the form of grants which may be for limited periods of time. The reserve is intended to provide working capital for the normal day-to-day working of the Association, and in addition, to give the Association time, in the event of the cessation of a major source of income, for alternative sources to be sought without damaging, in the short term, the functions of the Association. |
As of 31st March 2024, the reserve amounted to £145,599 including the balance of the Projects Fund. |
Neighbourhood Learning Centre (Restricted Funds) |
To maintain a surplus of current assets over current liabilities (i.e. working capital) of £75,000. In planning ahead of a new academic year, commitments have to be made for that year in respect of room and hall bookings, employment of tutors and other factors. It is therefore considered necessary to have funds available to honour these commitments for the year ahead and the reserve is intended to provide such funds in the event of the cessation of grant funding on which the NLC is reliant. |
Review of the Reserve Policies |
The Reserve Policies are reviewed annually after the end of the financial year in the light of results for that financial year, or earlier if there is any substantial change in the Charity's financial circumstances. |
Exemptions from disclosure |
This does not apply to this report. |
Funds held as custodian trustee on behalf of others |
No such funds are held. |
Earley Crescent Community Association (Registered number: 04383491) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
Grant-making |
The Charity made no grants during the year and does not anticipate doing so to other charities and parties at present. |
Pension Policy |
The Charity joined the Pension Auto-Enrolment scheme in November 2016 and contributes to staff pension scheme policies at the rate of 6% of basic gross salary. |
Ownership of Property |
Earley Charity provided the funding for the construction of the Crescent Centre building which was demised to Earley Crescent Community Association. Should the Earley Crescent Community Association be wound up in the future, the ownership of the building would revert to Earley Charity. |
Wokingham Borough Council owns the freehold of the land on which the Crescent Resource Centre is built. It has granted a lease to the Earley Crescent Community Association for a term of 60 years from 6 August 2003 at a rental of £1.00 per annum. This provides an estimated benefit of £3,160.00 per annum. |
FUTURE PROJECTS AND PLANS |
At the present time, the trustees do not anticipate any changes in the Charity's activities. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The governing document is the Memorandum and Articles of Association and subject to the provisions set out in the Companies Act 2006 and the Charities Act 2011. |
Charity constitution |
The company is incorporated as a charitable company limited by guarantee, not having share capital and being a registered charity in England and Wales. |
A Board of Directors meet quarterly or otherwise as necessary and administers the charity. There are sub-groups covering: building, finance, personnel, publicity, and outreach. A staff management team carries out the day-to-day functions of the Community Resource Centre: |
Recruitment and appointment of new trustees |
Directors must be a member of the Charity and not be disqualified as a Director or Trustee by the Articles. No body or individual external to the Charity is permitted to appoint directors. Members are invited to put themselves forward or be nominated by other members as directors. |
Directors are elected by the members at the Annual General Meeting or other General Meetings for a term of three years. Directors may offer themselves for re-election at the end of their term of office. |
The Directors have power to appoint new directors at any stage in between General Meetings. Such directors hold office until the next available General Meeting at which time they must stand for election by the members. |
Induction and training of new trustees |
Once appointed, new trustees receive appropriate training in their duties and responsibilities by reference to relevant literature including publications issued by the Charity Commissioners and advice and assistance from existing trustees. Where possible, trustees are encouraged to attend related training courses and seminars. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Earley Crescent Community Association (Registered number: 04383491) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
Trustees |
The Annual General Meeting held on the 7th of November 2023 was open to all members of the Association. The following directors retired by rotation and being eligible, offered themselves for re-election. They were duly elected for a term of 3 years, except for Rex Codling who chose to offer himself for one year only. |
Robert Ames Elaine Spratling Rex Codling |
The following are the duly elected directors as of 31 March 2024: |
Robert Ames (Chairman) |
Tony Henty Cindy Thompson |
Tony Bonnett Philip Hooper |
Jane Cant Tim Chambers |
Elaine Spratling Rex Codling (Treasurer) (Resigned 1.4.24) |
Association Manager to whom day to day management of the Charity is delegated: |
Kate Long |
Staff |
Kate Long - Association Manager |
Patricia Moreton - Community Link Worker |
Sameena Rizvi - Training Officer |
Isabella Hughes - NLC Support Worker |
Yvette Shears - Office Manager |
Samantha Mitchell - Finance Assistant |
Malcolm Gaudreau - Senior Caretaker |
Mark Robson - Caretaker |
Kyle Hobbs - Relief Caretaker |
Independent Examiner |
Peter Upton |
Bridge House |
2 Bridge Avenue |
Maidenhead |
Berkshire |
SL6 1RR |
Solicitors |
The Head Partnership |
9 Chalfont Court |
Lower earley |
Reading |
Berkshire |
RG6 5SY |
Advisers |
CAF Bank Ltd |
25 Kings Hill avenue |
Kings Hill |
West Malling |
Kent |
ME19 4JQ |
Earley Crescent Community Association (Registered number: 04383491) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Earley Crescent Community Association |
Independent examiner's report to the trustees of Earley Crescent Community Association ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts 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 accounts 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 accounts to be reached. |
Peter Upton Ltd |
Peter Upton |
Bridge House |
2 Bridge Avenue |
Maidenhead |
Berkshire |
SL6 1RR |
5 October 2024 |
Earley Crescent Community Association |
Statement of Financial Activities |
for the Year Ended 31 March 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | ( |
) |
Other trading activities | 2 |
Investment income | 3 |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 917,183 |
Earley Crescent Community Association (Registered number: 04383491) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 168,520 |
Restricted funds | 748,663 |
TOTAL FUNDS | 917,183 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Earley Crescent Community Association |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparation |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
1.The financial statements have been prepared in accordance with the provisions of SORP 2015 (FRS). As a small charity not subject to a statutory audit, the directors have opted for reduced reporting requirements where permitted, and in particular: |
a) Income and Expenditure is recognised by the nature of the items, not on an activity basis. |
b) Omission of a statement of cashflows. |
2. Under the historical cost convention and in accordance with the special provisions of the Companies Act 2006 relating to small companies. |
3. On a going concern basis, there being no material uncertainties about the Charity's ability to continue. |
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. Income from the hire of rooms and the hall is recognised when the booking has taken place and invoiced. |
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. |
Tangible fixed assets |
Tangible Fixed Assets are stated at historical cost less depreciation. Depreciation is provided on a straight-line basis at rates calculated to write-off the cost less residual value of each asset over its expected life As follows: |
Over | Rate of depreciation |
Buildings | Period of lease |
Car Park surface/drainage | 20 years | 5% |
Furniture,Fittings & Equipment | 5 or 10 years | 20% or 10% |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
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 objects 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. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
Financial instruments |
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments, which are initially recognised at transaction value and subsequently measured at their settlement value. |
Earley Crescent Community Association |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
2. | OTHER TRADING ACTIVITIES |
31.3.24 | 31.3.23 |
£ | £ |
Room and Hall hire |
Coffee Bar, Catering and lunch |
Course Fees | 3,350 | 8,400 |
Fundraising | 4,207 | 3,524 |
Hire of Equipment | 1,492 | 1,268 |
3. | INVESTMENT INCOME |
31.3.24 | 31.3.23 |
£ | £ |
Deposit account interest |
4. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.3.24 | 31.3.23 |
£ | £ |
Depreciation - owned assets |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
6. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.3.24 | 31.3.23 |
Crescent Resource Centre | 5 | 4 |
Neighbourhood Learning Centre | 2 | 1 |
No employees received employee benefits of more than £60.000. |
Earley Crescent Community Association |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 164,047 | 775,844 |
TOTAL FUNDS CARRIED FORWARD | 168,520 | 748,663 | 917,183 |
8. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | and |
leasehold | fittings | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Earley Crescent Community Association |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Other creditors |
Accruals and deferred income |
11. | PROVISIONS FOR LIABILITIES |
31.3.24 | 31.3.23 |
£ | £ |
Provisions |
Building's Maintenance & Repair |
2024 | 2023 |
Balance brought forward April 01 2023 | 29,151 | 29,151 |
Transfer in during the year | 2,650 | 6,150 |
31,801 | 32,002 |
Expenditure during the year | (12,708 | ) | (2,851 | ) |
19,093 | 29,151 |
IT Provision |
2024 |
Balance brought forward April 2023 | - |
Transfer in during the year | 8,217 |
8,217 |
Expenditure during the year | (4,717 | ) |
3,500 |
Earley Crescent Community Association |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
12. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.23 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 145,285 | (22,921 | ) | 122,364 |
Projects | 23,235 | - | 23,235 |
(22,921 | ) |
Restricted funds |
Leasehold Buildings | 679,183 | (19,038 | ) | 660,145 |
Neighbourhood Learning Centre | 71,565 | (8,128 | ) | 63,437 |
Fixtures,Fittings & Equipment | (3,198 | ) | (5,279 | ) | (8,477 | ) |
Centre fund | 1,113 | - | 1,113 |
(32,445 | ) |
TOTAL FUNDS | (55,366 | ) | 861,817 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 121,434 | (144,355 | ) | (22,921 | ) |
Restricted funds |
Leasehold Buildings | - | (19,038 | ) | (19,038 | ) |
Neighbourhood Learning Centre | 80,374 | (88,502 | ) | (8,128 | ) |
Fixtures,Fittings & Equipment | - | (5,279 | ) | (5,279 | ) |
( |
) | (32,445 | ) |
TOTAL FUNDS | ( |
) | (55,366 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 140,812 | 4,473 | 145,285 |
Projects | 23,235 | - | 23,235 |
164,047 | 4,473 | 168,520 |
Restricted funds |
Leasehold Buildings | 698,491 | (19,308 | ) | 679,183 |
Neighbourhood Learning Centre | 76,121 | (4,556 | ) | 71,565 |
Fixtures,Fittings & Equipment | 119 | (3,317 | ) | (3,198 | ) |
Centre fund | 1,113 | - | 1,113 |
775,844 | (27,181 | ) | 748,663 |
TOTAL FUNDS | 939,891 | (22,708 | ) | 917,183 |
Earley Crescent Community Association |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
12. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 127,187 | (122,714 | ) | 4,473 |
Restricted funds |
Leasehold Buildings | - | (19,308 | ) | (19,308 | ) |
Neighbourhood Learning Centre | 80,887 | (85,443 | ) | (4,556 | ) |
Fixtures,Fittings & Equipment | - | (3,317 | ) | (3,317 | ) |
80,887 | (108,068 | ) | (27,181 | ) |
TOTAL FUNDS | 208,074 | (230,782 | ) | (22,708 | ) |
General fund |
Provide a Community Resource Centre with the flexibility to serve the needs of all voluntary and community based organisations, charities and individuals with in Earley, Reading and Wokingham Borough and the surrounding area. |
Projects fund |
Fundraising set aside for future projects. |
Building fund |
Building costs of the Crescent Resource Centre and Extension and Car Park surface and drainage less Amortisation and Depreciation. |
Neighbourhood Learning Centre Fund |
Supporting training courses and course costs, marketing of projects and funding of NLC staff. |
Centre fund |
Provides for the employment costs of the Centre Manager and related expenditure funded by Earley Charity on a rolling three year basis and subject to regular reporting to the Charity. |
Fixtures, Fittings & Equipment Fund |
Provide for certain fixtures, fittings and equipment paid for from "one-off" grants in respect of the Resource Centre and Garden. |
13. | RELATED PARTY DISCLOSURES |
There were no related party transactions during the year that need disclosure. |
Directors ' Interests |
The following interests have been declared by the Directors in accordance with the Charity's conflicts of interest Policy: |
Name of Director | Relates to | Description of Interest |
Robert Ames | Self | Trustee of Earley Charity |
Robert Ames | Self | Trustee of EarleyBus |
Philip Hooper | Self | Trustee of Earley Charity |
Anthony Henty | Self | Treasurer of EarleyBus |
Earley Crescent Community Association |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
14. | SHARE CAPITAL AND MEMBERSHIP |
The company is limited by Guarantee and without share capital. Each member undertakes to contribute such amount as may be required, not exceeding £10, to the assets,debts, liabilities and costs in the case of the Company being wound up with insufficient assets to repay its liabilities. |
There is no controlling party. Each member is liable for the same guarantee and no one member has more voting rights than another. |