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COMPANY REGISTRATION NUMBER: 07992679
CHARITY REGISTRATION NUMBER: 1152001
Goodmayes Residents Association
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2024
Goodmayes Residents Association
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
3
Statement of financial activities (including income and expenditure account)
4
Statement of financial position
5
Notes to the financial statements
6
Goodmayes Residents Association
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024 .
Reference and administrative details
Registered charity name
Goodmayes Residents Association
Charity registration number
1152001
Company registration number
07992679
Principal office and registered
616C Green Lane
office
Goodmayes
Ilford
IG3 9SE
Essex
The trustees
Mrs Lilian Buddle (Deceased 21/09/2023)
Mr Keith Eric Stanbury
Mr Leslie John Tucker
Independent examiner
Robinson Sterling Chartered Accountants
616D Green Lane
Ilford
Essex
IG3 9SE
Structure, governance and management
The charity is constitute as a company limited by guarantee and is governed by its Members and Article of Association dated 15 March 2012 and is registered as a charity with the charity commission.
The charity's operations are administered by the following members forming the council of management
Directors/Trustees - Mr Keith Eric Stanbury
Mr Leslie John Tucker
Mrs Lilian Buddle (Deceased 21/09/2023)
Objectives and activities
The principal activity of the company is as registered charity to promote the benefit of the inhabitants resident in the goodmayes ward of the London Borough of Recording without distinction of sex, sexual orientation, race or political religious of other opinions. By associating together said inhabitants, voluntary and other organisations in a common effort to advent education provide facilities in the interest of social improving the of life for the said inhabitants. Further to promote the preservation, development and improvement for the public benefit of the character and amenities of the area of benefit.
Achievements and performance
We have enjoyed another successful year of trading, providing regular, reliable service for the users.
Financial review
The trustees are pleased with the results of the year, which generated (net expenses), net income and net movement in the funds for the year of 2024 £(8,263)(2023- £2,001).
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 10 September 2024 and signed on behalf of the board of trustees by:
Mr Keith Eric Stanbury Trustee
Goodmayes Residents Association
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Goodmayes Residents Association
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of Goodmayes Residents Association ('the charity') for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the company (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 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 the 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 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 accounts to be reached.
Robinson Sterling Chartered Accountants
Independent Examiner
616D Green Lane Ilford Essex IG3 9SE
10 September 2024
Goodmayes Residents Association
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
2023
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
257
257
Other trading activities
6
9,783
9,783
12,253
--------
--------
--------
Total income
10,040
10,040
12,253
--------
--------
--------
Expenditure
Expenditure on raising funds:
Costs of other trading activities
7
18,303
18,303
14,253
--------
--------
--------
Total expenditure
18,303
18,303
14,253
--------
--------
--------
--------
--------
--------
Net expenditure and net movement in funds
( 8,263)
( 8,263)
( 2,000)
--------
--------
--------
Reconciliation of funds
Total funds brought forward
43,578
43,578
45,578
--------
--------
--------
Total funds carried forward
35,315
35,315
43,578
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Goodmayes Residents Association
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible fixed assets
11
4,112
5,250
Current assets
Debtors
12
883
841
Cash at bank and in hand
35,850
40,158
--------
--------
36,733
40,999
--------
--------
Net current assets
36,733
40,999
--------
--------
Total assets less current liabilities
40,845
46,249
Creditors: amounts falling due after more than one year
13
5,530
2,671
--------
--------
Net assets
35,315
43,578
--------
--------
Funds of the charity
Unrestricted funds
35,315
43,578
--------
--------
Total charity funds
14
35,315
43,578
--------
--------
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 10 September 2024 , and are signed on behalf of the board by:
Mr Keith Eric Stanbury
Trustee
Goodmayes Residents Association
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 616C Green Lane, Goodmayes, Ilford, IG3 9SE, Essex.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
4. Limited by guarantee
The company is limited by guarantee and does not have share capital. In the event of liquidation the liability of each member is limited to £5. The number of members at end of the was 3 (2017-3).
5. Donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Donations
Donations
257
257
----
----
----
----
6. Other trading activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Income from rent receivable
9,783
9,783
12,253
12,253
-------
-------
--------
--------
7. Costs of other trading activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Costs of other trading activities - Other activity 1
18,303
18,303
14,253
14,253
--------
--------
--------
--------
8. Net expenditure
Net expenditure is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
1,762
2,117
-------
-------
9. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
600
570
----
----
10. Trustee remuneration and expenses
There are no remuneration or expenses paid for trustees.
11. Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 April 2023
25,856
Additions
624
--------
At 31 March 2024
26,480
--------
Depreciation
At 1 April 2023
20,606
Charge for the year
1,762
--------
At 31 March 2024
22,368
--------
Carrying amount
At 31 March 2024
4,112
--------
At 31 March 2023
5,250
--------
12. Debtors
2024
2023
£
£
Prepayments and accrued income
883
841
----
----
13. Creditors: amounts falling due after more than one year
2024
2023
£
£
Accruals and deferred income
5,530
2,671
-------
-------
14. Analysis of charitable funds
Unrestricted funds
At 1 April 2023
Income
Expenditure
At 31 March 2024
£
£
£
£
General funds
43,578
10,040
(18,303)
35,315
--------
--------
--------
--------
At 1 April 2022
Income
Expenditure
At 31 March 2023
£
£
£
£
General funds
45,578
12,253
(14,253)
43,578
--------
--------
--------
--------