JUBILEE FIELDS COMMUNITY ASSOCIATION

Company limited by guarantee

Company Registration Number:
05317292 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 1 February 2023

End date: 31 January 2024

JUBILEE FIELDS COMMUNITY ASSOCIATION

Contents of the Financial Statements

for the Period Ended 31 January 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes

JUBILEE FIELDS COMMUNITY ASSOCIATION

Directors' report period ended 31 January 2024

The directors present their report with the financial statements of the company for the period ended 31 January 2024

Principal activities of the company

The company's objectives are to promote the benefit of the inhabitants of Jubilee Fields Estate and neighbourhood defined by Shildon Town (the area of benefit) without distinction of sex, sexual orientation, race of political, religious or other opinions by associating together the said inhabitants and the local authorities, voluntary and other organisations in common effort to advance education and to provide facilities in the interest of social welfare for the recreation and leisure time occupation with the object of improving conditions of life for the said inhabitants. To maintain and manage the Community Centre in furtherance of these objects.



Directors

The director shown below has held office during the whole of the period from
1 February 2023 to 31 January 2024

Vivienne Fenton


The director shown below has held office during the period of
1 February 2023 to 26 September 2023

Susan Milburn


The director shown below has held office during the period of
1 February 2023 to 31 May 2023

Lesley Bowes


The directors shown below have held office during the period of
11 December 2023 to 31 January 2024

Judith Box
Nathan Hanratty


The directors shown below have held office during the period of
9 February 2023 to 31 January 2024

Hannah Hanratty
Shirley Quinn
Kathryn Mortimer


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
22 November 2024

And signed on behalf of the board by:
Name: Hannah Hanratty
Status: Director

JUBILEE FIELDS COMMUNITY ASSOCIATION

Balance sheet

As at 31 January 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 379,217 371,114
Investments:   0 0
Total fixed assets: 379,217 371,114
Current assets
Stocks:   0 0
Debtors: 4 3,732 1,801
Cash at bank and in hand: 41,802 50,552
Investments:   0 0
Total current assets: 45,534 52,353
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 1,590 ) ( 1,137 )
Net current assets (liabilities): 43,944 51,216
Total assets less current liabilities: 423,161 422,330
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 423,161 422,330
Members' funds
Profit and loss account: 423,161 422,330
Total members' funds: 423,161 422,330

The notes form part of these financial statements

JUBILEE FIELDS COMMUNITY ASSOCIATION

Balance sheet statements

For the year ending 31 January 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 22 November 2024
and signed on behalf of the board by:

Name: Hannah Hanratty
Status: Director

The notes form part of these financial statements

JUBILEE FIELDS COMMUNITY ASSOCIATION

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property 2% on cost, Plant and machinery 5% on cost and Fixtures and fittings 20% on cost.

    Other accounting policies

    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. 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. 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.

JUBILEE FIELDS COMMUNITY ASSOCIATION

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 5 3

JUBILEE FIELDS COMMUNITY ASSOCIATION

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 February 2023 571,141 0 8,847 0 0 579,988
Additions 0 19,775 0 0 0 19,775
Disposals 0 0 0 0 0 0
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 31 January 2024 571,141 19,775 8,847 0 0 599,763
Depreciation
At 1 February 2023 200,028 0 8,846 0 0 208,874
Charge for year 11,423 249 0 0 0 11,672
On disposals 0 0 0 0 0 0
Other adjustments 0 0 0 0 0 0
At 31 January 2024 211,451 249 8,846 0 0 220,546
Net book value
At 31 January 2024 359,690 19,526 1 0 0 379,217
At 31 January 2023 371,113 0 1 0 0 371,114

JUBILEE FIELDS COMMUNITY ASSOCIATION

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Debtors

2024 2023
£ £
Trade debtors 0 0
Prepayments and accrued income 0 1,801
Other debtors 3,732 0
Total 3,732 1,801
Debtors due after more than one year: 0 0

JUBILEE FIELDS COMMUNITY ASSOCIATION

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 0 0
Accruals and deferred income 0 0
Other creditors 1,590 1,137
Total 1,590 1,137