REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
WALTON-ON-THE-HILL (SURREY) |
ASSOCIATION LIMITED(THE) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
WALTON-ON-THE-HILL (SURREY) |
ASSOCIATION LIMITED(THE) |
WALTON-ON-THE-HILL (SURREY) |
ASSOCIATION LIMITED(THE) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Statement of Financial Activities | 3 |
Balance Sheet | 4 | to | 5 |
Notes to the Financial Statements | 6 | to | 11 |
WALTON-ON-THE-HILL (SURREY) |
ASSOCIATION LIMITED(THE) (REGISTERED NUMBER: 01126365) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST 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 31st 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 |
The main purpose of the Council of Management is to maintain the Centre at a standard which will provide user groups with an affordable, safe and pleasant venue for their various activities. |
The Centre continues to be used by a variety of groups and is popular with individuals for private parties, all at a very reasonable cost. The centre is used as the local polling station and for Village activities such as the Village Forum and the choosing of the May Queen and provides off-street parking for major events at St Peter's Church. If required it could also provide temporary accommodation in the event of a local emergency, thankfully this has not happened yet. |
Volunteers |
The Council wishes to record its grateful thanks to all those who have helped in the Centre in any way during the year particularly a special thank you once again goes to Mr Martin Saul for all his continuing help. |
ACHIEVEMENT AND PERFORMANCE |
Fundraising activities |
The Charity continued to realise income from hall rental and to a lesser extent, donations and subscriptions. |
FINANCIAL REVIEW |
Investment policy and objectives |
Having regard to the Association's reserves policy the Council of Management has decided to keep all available funds in interest bearing deposit accounts. This policy is subject to periodic review. |
Reserves policy |
In view of the age and nature of the building the Association maintains a building repairs reserve so as to be able to meet both planned and unforeseen repairs and property renovations. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document the memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Organisational structure |
Day to day management is in the hands of the Council of Management (currently comprised of 7 members) which meets quarterly. Members of the council are elected or appointed from the membership and one third retire each year but are eligible for re-election. Those appointed during the year are required to stand for election at the next Annual General Meeting. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
WALTON-ON-THE-HILL (SURREY) |
ASSOCIATION LIMITED(THE) (REGISTERED NUMBER: 01126365) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Trustees |
Company Secretary |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Walton-on-the-hill (Surrey) Association Limited(The) for the purposes of company law) are responsible for preparing the Report of the Trustees 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
Approved by order of the board of trustees on |
WALTON-ON-THE-HILL (SURREY) |
ASSOCIATION LIMITED(THE) |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Restricted | Endowment | Total | Total |
fund | funds | fund | funds | funds |
Notes | £ | £ | £ | £ | £ |
INCOME AND | ENDOWMENTS FROM |
Donations and legacies | 2 |
Other trading activities | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Raising funds | 5 |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) |
( |
) |
RECONCILIATION OF | FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD |
257,323 |
WALTON-ON-THE-HILL (SURREY) |
ASSOCIATION LIMITED(THE) (REGISTERED NUMBER: 01126365) |
BALANCE SHEET |
31ST MARCH 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Restricted | Endowment | Total | Total |
fund | funds | fund | funds | funds |
Notes | £ | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
12 |
( |
) |
( |
) |
( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 36,817 |
Restricted funds | 190,506 |
Endowment funds | 30,000 |
TOTAL FUNDS | 257,323 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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. |
WALTON-ON-THE-HILL (SURREY) |
ASSOCIATION LIMITED(THE) (REGISTERED NUMBER: 01126365) |
BALANCE SHEET - continued |
31ST MARCH 2024 |
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 |
WALTON-ON-THE-HILL (SURREY) |
ASSOCIATION LIMITED(THE) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - |
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. |
2. | DONATIONS AND LEGACIES |
31.3.24 | 31.3.23 |
£ | £ |
Donations |
Subscriptions |
Misc Income | 1,708 | 1,968 |
WALTON-ON-THE-HILL (SURREY) |
ASSOCIATION LIMITED(THE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
3. | OTHER TRADING ACTIVITIES |
31.3.24 | 31.3.23 |
£ | £ |
Rental Income |
4. | INVESTMENT INCOME |
31.3.24 | 31.3.23 |
£ | £ |
Deposit account interest |
5. | RAISING FUNDS |
Investment management costs |
31.3.24 | 31.3.23 |
£ | £ |
Property repairs |
6. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.3.24 | 31.3.23 |
£ | £ |
Depreciation - owned assets |
7. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023. |
8. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.3.24 | 31.3.23 |
Administration |
WALTON-ON-THE-HILL (SURREY) |
ASSOCIATION LIMITED(THE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Endowment | Total |
fund | funds | fund | funds |
£ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 36,862 | 190,506 | 30,000 |
TOTAL FUNDS CARRIED FORWARD | 36,817 | 190,506 | 30,000 | 257,323 |
10. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1st April 2023 and 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for year |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
WALTON-ON-THE-HILL (SURREY) |
ASSOCIATION LIMITED(THE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Rental Debtors |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors | ( |
) | ( |
) |
Other creditors |
Accruals |
13. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1/4/23 | in funds | 31/3/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 36,817 | 4,067 | 40,884 |
Restricted funds |
Land and Buildings Fund | 171,750 | - | 171,750 |
General Legacy Fund | 12,235 | - | 12,235 |
Building Repairs Reserve | 6,521 | - | 6,521 |
- |
Endowment funds |
Jo Bryant Legacy Fund | 30,000 | - | 30,000 |
TOTAL FUNDS | 4,067 | 261,390 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 32,479 | (28,412 | ) | 4,067 |
TOTAL FUNDS | ( |
) | 4,067 |
WALTON-ON-THE-HILL (SURREY) |
ASSOCIATION LIMITED(THE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
13. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1/4/22 | in funds | 31/3/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 36,862 | (45 | ) | 36,817 |
Restricted funds |
Land and Buildings Fund | 171,750 | - | 171,750 |
General Legacy Fund | 12,235 | - | 12,235 |
Building Repairs Reserve | 6,521 | - | 6,521 |
190,506 | - | 190,506 |
Endowment funds |
Jo Bryant Legacy Fund | 30,000 | - | 30,000 |
TOTAL FUNDS | 257,368 | (45 | ) | 257,323 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 23,910 | (23,955 | ) | (45 | ) |
TOTAL FUNDS | 23,910 | (23,955 | ) | (45 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1/4/22 | in funds | 31/3/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 36,862 | 4,022 | 40,884 |
Restricted funds |
Land and Buildings Fund | 171,750 | - | 171,750 |
General Legacy Fund | 12,235 | - | 12,235 |
Building Repairs Reserve | 6,521 | - | 6,521 |
190,506 | - | 190,506 |
Endowment funds |
Jo Bryant Legacy Fund | 30,000 | - | 30,000 |
TOTAL FUNDS | 257,368 | 4,022 | 261,390 |
WALTON-ON-THE-HILL (SURREY) |
ASSOCIATION LIMITED(THE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
13. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 56,389 | (52,367 | ) | 4,022 |
TOTAL FUNDS | 56,389 | (52,367 | ) | 4,022 |
14. | RELATED PARTY DISCLOSURES |