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REGISTERED COMPANY NUMBER: 01126365 (England and Wales)
REGISTERED CHARITY NUMBER: 267124


























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
01126365 (England and Wales)

Registered Charity number
267124

Registered office
2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ

WALTON-ON-THE-HILL (SURREY)
ASSOCIATION LIMITED(THE) (REGISTERED NUMBER: 01126365)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024

Trustees
Miss D Castle - Chairperson
Mrs V Griffiths
Mrs S J Marshall - Council Secretary
G J Kula Nurse

Company Secretary
Miss D Castle

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 10th July 2024 and signed on its behalf by:





Miss D Castle - Trustee

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 1,950 - - 1,950 2,078

Other trading activities 3 27,491 - - 27,491 20,729
Investment income 4 3,038 - - 3,038 1,103
Total 32,479 - - 32,479 23,910

EXPENDITURE ON
Raising funds 5 12,608 - - 12,608 10,719

Charitable activities
Upkeep of Premises 15,408 - - 15,408 11,003
Governance Costs 396 - - 396 2,233
Total 28,412 - - 28,412 23,955

NET
INCOME/(EXPENDITURE)

4,067

-

-

4,067

(45

)


RECONCILIATION OF FUNDS
Total funds brought forward 36,817 190,506 30,000 257,323 257,368

TOTAL FUNDS CARRIED
FORWARD

40,884

190,506

30,000

261,390

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 16,713 174,120 - 190,833 192,658

CURRENT ASSETS
Debtors 11 4,141 - - 4,141 90
Cash at bank and in hand 18,926 20,535 30,000 69,461 67,262
23,067 20,535 30,000 73,602 67,352

CREDITORS
Amounts falling due within one
year

12

1,104

(4,149

)

-

(3,045

)

(2,687

)

NET CURRENT ASSETS 24,171 16,386 30,000 70,557 64,665

TOTAL ASSETS LESS
CURRENT LIABILITIES

40,884

190,506

30,000

261,390

257,323

NET ASSETS 40,884 190,506 30,000 261,390 257,323
FUNDS 13
Unrestricted funds 40,884 36,817
Restricted funds 190,506 190,506
Endowment funds 30,000 30,000
TOTAL FUNDS 261,390 257,323

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 10th July 2024 and were signed on its behalf by:





D Castle - Trustee

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 - 20% on reducing balance

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 100 100
Subscriptions 142 10
Misc Income 1,708 1,968
1,950 2,078


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 27,491 20,729

4. INVESTMENT INCOME
31.3.24 31.3.23
£    £   
Deposit account interest 3,038 1,103

5. RAISING FUNDS

Investment management costs
31.3.24 31.3.23
£    £   
Property repairs 4,717 3,309

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.24 31.3.23
£    £   
Depreciation - owned assets 1,825 2,281

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 1 1

No employees received emoluments in excess of £60,000.


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 2,078 - - 2,078

Other trading activities 20,729 - - 20,729
Investment income 1,103 - - 1,103
Total 23,910 - - 23,910

EXPENDITURE ON
Raising funds 10,719 - - 10,719

Charitable activities
Upkeep of Premises 11,003 - - 11,003
Governance Costs 2,233 - - 2,233
Total 23,955 - - 23,955

NET INCOME/(EXPENDITURE) (45 ) - - (45 )


RECONCILIATION OF FUNDS
Total funds brought forward 36,862 190,506 30,000 257,368

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 183,534 17,353 200,887
DEPRECIATION
At 1st April 2023 - 8,229 8,229
Charge for year - 1,825 1,825
At 31st March 2024 - 10,054 10,054
NET BOOK VALUE
At 31st March 2024 183,534 7,299 190,833
At 31st March 2023 183,534 9,124 192,658


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 4,141 90

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors (80 ) (42 )
Other creditors 2,333 2,333
Accruals 792 396
3,045 2,687

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
190,506 - 190,506
Endowment funds
Jo Bryant Legacy Fund 30,000 - 30,000

TOTAL FUNDS 257,323 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 32,479 (28,412 ) 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

There were no related party transactions for the year ended 31st March 2024.