Company registered number
08293491
Charity registration number
1151164
Isleham Community Association Limited
Report and Accounts
31 October 2024
Isleham Community Association Limited
Report and accounts
Contents
Page
Charity Reference and Administrative Details 1
Trustees' Annual Report 2
Statement of Financial Activities 4
Balance sheet 5
Notes to the Financial Statements 6
Isleham Community Association Limited
Charity Reference and Administrative Details
Year Ended 31 October 2024
Trustees
M J Tarver
B J Murfitt
Z King
E L Joy-Staines
C G Elmer
R J Coxhead
M Caffarelli
Registered office
The Beeches
32 Mill Street
Isleham
Ely
Cambridgeshire
CB7 5RY
Company registration number
08293491
Charity registration number
115164
Isleham Community Association Limited
Trustees' Annual Report
Year Ended 31 October 2024
The Trustees present their report and the financial statements of the charity for the year ended 31 October 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 February 2016).
Trustees of the charity
The directors of the charitable company are its trustees for the purpose of charity law. The trustees who have served during the year and since the year end were as follows:
M Caffarelli (appointed on 14 November 2023)
R J Coxhead
C G Elmer
E L Joy-Staines
Z King
B J Murfitt
M J Tarver
T-L Earl (resigned 14 November 2023)
Objectives and activities
The principal object of the company is to manage The Beeches Community Centre, in the village of Isleham, Cambridgeshire, on behalf of Isleham Parish Council.
The charity has a wholly owned trading subsidiary company, Isleham Community Enterprises Limited (ICE Ltd) that carries out the trading activities on behalf of the charity at The Beeches Community Centre.
Public benefit statement
The Trustees are confident that the objectives and activities of the charity will benefit the public at large as The Beeches Community Centre is able to be used by all members of the public with no exceptions.
The Trustees have complied with the duty to have due regard to the public benefit guidance published by the Charity Commission.
Achievements and performance
The Beeches Community Centre has continued to operate and has expanded the activities it offers the local community.
The charity has received donations of £15,363 during the year.
The charity undertook capital expenditure of £6,490 during the year.
Financial review (including reserves policy)
At the period end there was £79,820 in the unrestricted fund and £24,478 in the restricted fund.
The Trustees are of the opinion that the Charity has sufficient reserves to comply with its reserves policy.
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately six months' expenditure. Six months is deemed suitable to enable the business of the charity to ensure its responsibilities are fulfilled. This provides sufficient funds to cover management, administration, support costs and to respond to emergencies.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
M J Tarver
Date: 4 June 2025
Isleham Community Association Limited
Statement of Financial Activities (including Income & Expenditure Account)
for the year ended 31 October 2024
2024 2023
Note Unrestricted funds Restricted funds Total Total
£ £ £ £
Income and endowments from:
Donations and legacies 2 5,363 10,000 15,363 887
Grant income 850 1,230 2,080 19,967
Interest income - 41 41 -
Total income and endowments 6,213 11,271 17,484 20,854
Expenditure on:
Raising funds - - - -
Charitable activities 3 8,654 3,137 11,791 17,579
Total expenditure 8,654 3,137 11,791 17,579
Net income/(expenditure) (2,441) 8,134 5,693 3,275
Net movement in funds 10 (2,441) 8,134 5,693 3,275
Total funds brought forward 10 82,261 16,344 98,605 95,330
Total funds carried forward 10 79,820 24,478 104,298 98,605
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.
Isleham Community Association Limited
Balance Sheet
as at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 6 20,239 19,924
Investments 7 1 1
20,240 19,925
Current assets
Debtors 8 69,890 69,973
Cash at bank and in hand 15,995 9,599
85,885 79,572
Creditors: amounts falling due within one year 9 1,828 892
Net assets 104,298 98,605
Charity Funds
Restricted funds 10 24,478 16,344
Unrestricted funds 10 79,820 82,261
Total charity funds 10 104,298 98,605
For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime.
Signed on behalf of the board of trustees
M J Tarver
Trustee
Approved by the board on 4 June 2025
Isleham Community Association Limited
Notes to the Financial Statements
for the year ended 31 October 2024
1 Accounting policies
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations to the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure.
Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
- Costs of raising funds
- Expenditure on charitable activities; and
- Other expenditure represents those items not falling into the categories above.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transacion costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
2 Income from donations and legacies 2024 2023
£ £
Donations 15,363 887
15,363 887
Income from donations and legacies was £15,363 (2023 - £887) of which £10,000 (2023 - £nil) was attributable to restricted funds and £5,363 (2023 - £887) was attributable to unrestricted funds.
3 Analysis of expenditure on charitable activities
Activities undertaken directly Total
£ £
The Beeches, Community Centre 11,791 11,791
11,791 11,791
£3,137 (2023 - £7,832) of the above costs were attributable to restricted funds. £8,654 (2023 - £9,747) of the above costs were attributable to unrestricted funds.
4 Trustees' and key management personnel remuneration and expenses
The trustees neither received nor waived any remuneration during the year (2023 - £nil).
The trustees did not have any expenses reimbursed during the year (2023 - £nil).
5 Staff costs and employee benefits
The average monthly number of employees and full time equivalent (FTE) during the year was nil (2023 - nil)
6 Tangible fixed assets
Leasehold improvements Plant and machinery Total
£ £
At 1 November 2023 - 64,033 64,033
Additions 840 5,650 6,490
At 31 October 2024 840 69,683 70,523
Depreciation:
At 1 November 2023 - 44,109 44,109
Charge for the year 18 6,156 6,174
At 31 October 2024 18 50,265 50,283
Net book value:
At 31 October 2024 822 19,417 20,239
At 31 October 2023 - 19,924 19,924
7 Fixed asset investments
Other investments Total
£ £
Cost or valuation
At 01/11/2023 and 31/10/2024 1 1
Included within other investments is a 100% holding in the ordinary share capital of Isleham Community Enterprises Limited. Its registered office address is 32 Mill Street, Isleham, Ely, Cambs, CB7 5RS.
8 Debtors
2024 2023
£ £
Amounts owed by group undertakings 66,700 66,803
Other debtors 3,190 3,170
69,890 69,973
9 Creditors: amounts falling due within one year
2024 2023
£ £
Accruals and deferred income 1,828 892
1,828 892
10 Fund reconciliation
Unrestricted funds
Balance at 01/11/2023 Income Expenditure Balance at 31/10/2024
£ £ £ £
Unrestricted 82,261 6,213 8,654 79,820
82,261 6,213 8,654 79,820
Restricted funds
Balance at 01/11/2023 Income Expenditure Balance at 31/10/2024
£ £ £ £
Groundworks Grant 1,000 - - 1,000
Drama Group Donation Fund 3,856 - 265 3,591
East Cambs District Council 11,488 - 2,872 8,616
Co-operative Group Grant - 1,230 - 1,230
Philip Aspland Legacy - 10,041 - 10,041
3,773
16,344 11,271 3,137 24,478
Fund description
Restricted funds
Groundworks Grant
This relates to a donation that have been received for the specific purpose of buying canvas posters and other decorations for the main hall at The Beeches.
Drama Group Donations Fund
This relates to donations that were made to the charity for the specific purpose of furtherance of drama and/or improving the stage facilities at The Beeches.
The expenditure relates to expenses incurred on drama productions and new microphones and associated depreciation.
East Cambs District Council
This relates to a grant that was received by the charity for the specific purpose of purchasing a new kitchen facility.
The expenditure relates to depreciation charged on the newly purchased kitchen.
Co-operative Group Grant
This relates to a grant that was received by the charity and will be used in the subsequent financial year on electrical work and lighting replacements in the main hall.
Philip Aspland Legacy
This relates to a donation that was made to the charity for a specific purpose, the purpose needs to be a suitable and fitting legacy and will be decided by the trustees.
There was no expenditure in the year but there was interest received.
11 Analysis of net assets between funds
Unrestricted funds Restricted funds Total
£ £ £
Fixed assets 9,169 11,070 20,239
Cash and current investments 4,724 11,271 15,995
Other current assets/liabilities 65,927 2,137 68,064
Total 79,820 24,478 104,298
12 Related party transactions
At the Balance Sheet date there is an amount due to the charity of £66,700 (2023 - £66,803) from Isleham Community Enterprises Ltd.
This is in respect of an inter-group loan for the purposes of working capital requirements. There are no formal repayment terms and no interest is being received by the charity.
The trustees are confident that the loan will be repaid in the future.
Isleham Community Association Limited 08293491 false 2023-11-01 2024-10-31 2024-10-31 VT Final Accounts April 2024 No description of principal activity 08293491 2022-11-01 2023-10-31 08293491 1 2022-11-01 2023-10-31 08293491 core:ShareCapital 2023-10-31 08293491 core:RetainedEarningsAccumulatedLosses 2023-10-31 08293491 core:WithinOneYear 2023-10-31 08293491 2023-11-01 2024-10-31 08293491 bus:RegisteredCharity 2023-11-01 2024-10-31 08293491 bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 08293491 bus:Director7 2023-11-01 2024-10-31 08293491 bus:Director1 2023-11-01 2024-10-31 08293491 bus:Director3 2023-11-01 2024-10-31 08293491 bus:Director4 2023-11-01 2024-10-31 08293491 bus:Director5 2023-11-01 2024-10-31 08293491 bus:Director6 2023-11-01 2024-10-31 08293491 bus:Director8 2023-11-01 2024-10-31 08293491 1 2023-11-01 2024-10-31 08293491 1 2023-11-01 2024-10-31 08293491 2 2023-11-01 2024-10-31 08293491 bus:FRS102 2023-11-01 2024-10-31 08293491 bus:FilletedAccounts 2023-11-01 2024-10-31 08293491 2024-10-31 08293491 core:ShareCapital 2024-10-31 08293491 core:RetainedEarningsAccumulatedLosses 2024-10-31 08293491 core:WithinOneYear 2024-10-31 08293491 2023-10-31 iso4217:GBP xbrli:pure