TITCHFIELD_COMMUNITY_ASSOCIATION_31_Jan_2026_companies_house_set_of

Titchfield Community Association

Notes to the Financial Statements

Year ended

31 January 2026

1 General information

The company is a private company limited by guarantee and is registered in England and Wales. The address of the registered office is

Titchfield Community Centre

Mill Street

Titchfield Fareham

Hampshire

PO14 4AB

. Titchfield Community Association is a registered charity (1109062). It is run by a committee of management, who are directors and charity trustees respectively within the meaning of the Companies Act 2006 and Charities Act 2011. Its members are the members of the committee who have consented to act as company directors.

The object of Titchfield Community Association are to encourage and provide facilities for promoting social welfare and recreation for the inhabitants of Titchfield and its area of benefit principally through the maintenance and management of the community centre.

Individual users of the Centre's facilities are known as patrons. Patrons are required to pay an annual subscription and are entitled to attend and vote at general meetings.

2 Statement of compliance

These

financial statements

have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

Titchfield Community Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Going concern

The Board have a reasonable expectation that the Association has adequate resources to continue in operational existence for the foreseeable future. For this reason the Board continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Consolidation

The entity has taken advantage of the option not to prepare consolidated

financial statements

contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Depreciation and Residual Values

The Directors have reviewed the asset lives and associated residual values of all fixed asset classes and have concluded that asset lives and residual values are appropriate.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount 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 comprehensive income and accumulated in capital and reserves. However, the increase is recognised in surplus or deficit to the extent that it reverses a revaluation decrease of the same asset previously recognised in surplus or deficit. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in surplus or deficit.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Office equipment	25% straight line
Fixtures and fittings	15% straight line

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or surplus or deficit. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in surplus or deficit.

All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in surplus or deficit. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in surplus or deficit.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in surplus or deficit immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in surplus or deficit immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Designated Funds

Designated funds are created by internal decision of the Committee for setting aside the Association’s unrestricted resources for particular purposes.

4 Average number of employees

The average number of persons employed by the company during the year was

(2025:

15.00

5 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 February 2025	97,559
Additions	224
At 31 January 2026	97,783
Depreciation
At 1 February 2025	95,846
Charge	432
At 31 January 2026	96,278
Carrying amount
At 31 January 2026	1,505
At 31 January 2025	1,713

6 Investments

	Shares in group undertakings and participating interests
	£
Cost
At 1 February 2025	1
At 31 January 2026	1
Impairment
At 1 February 2025 and 31 January 2026	-
Carrying amount
At 31 January 2026	1
At 31 January 2025	1

7 Debtors

	2026		2025
	£		£
Trade debtors	(4,206	)	-
Other debtors	5,443		5,280
	1,237		5,280

8 Creditors: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	643	1,045
Taxation and social security	1,973	-
Other creditors	12,774	25,275
	15,390	26,320

9 Related party transactions

At 31 January 2026 TCA Enterprises Limited paid Titchfield Community Association £3,163 by Gift Aid.

Since TCA Enterprise Limited has no bank account all the transactions of the subsidiary are recorded by the Company as agent for TCA Enterprises Limited.

Under VAT group registration, the association is contingently responsible for the VAT liability of TCA Enterprises Limited in the event of non-payment. TCA Enterprises Limited is similairly liable for VAT payable by the Association.

		2026		2025
	Note	£		£
Fixed assets
Tangible assets	5	1,505		1,713
Investments	6	1		1
		1,506		1,714
Current assets
Debtors	7	1,237		5,280
Cash at bank and in hand		132,830		128,269
		134,067		133,549
Creditors: amounts falling due within one year	8	(15,390	)	(26,320	)
Net current assets		118,677		107,229
Total assets less current liabilities		120,183		108,943
Capital and reserves
Income and expenditure account		120,183		108,943
Members funds		120,183		108,943