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Report of the Trustees and |
Financial Statements for the Year Ended 31 March 2017 |
for |
Vicarage Lane Centre |
REGISTERED COMPANY NUMBER:
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REGISTERED CHARITY NUMBER:
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Report of the Trustees and |
Financial Statements for the Year Ended 31 March 2017 |
for |
Vicarage Lane Centre |
Vicarage Lane Centre |
Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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Page |
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Report of the Trustees | 1 to 2 |
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Statement of Financial Activities | 3 |
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Statement of Financial Position | 4 |
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Notes to the Financial Statements | 5 to 6 |
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Vicarage Lane Centre |
Report of the Trustees |
for the Year Ended 31 March 2017 |
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 31 March 2017. 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 2015). |
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OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The principal activity of the company was that of provision of a Community centre with facilities for recreation and leisure time |
occupation for the inhabitants of the London borough of Newham and adjoining areas. |
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When planning the activities of the charity, the trustees have regard to the guidance issued on public benefit by the Charity |
Commission in December 2008. |
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Public benefit |
The centre benefits the public by:- |
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Provision of recreational, and leisure facilities, for inhabitants of London borough of Newham. This then enhances their fitness |
and well- being. With the promotion of education, training and employment as well as a forum for advice, and worship for |
residents. |
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ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Our efforts in recruiting new management members have been difficult. However we have managed to bring on board a high |
profile Disability Arts programme to the centre along with new management members. This will open up more access to |
untapped user resources as well as provision for more support to wider community. |
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We continue to secure regular and ongoing hirers bookings, and throughout the year including a programme for Disabled arts. |
(Together 2012 CIC) |
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Bookings secured for regulars hirers for year ended March 2017 include: |
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Sundays- 10-1 remnant Prayers |
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Mondays - Fridays 2.30 - 6.15 Bright Futures Kids Club (an afterschool club) |
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Mondays - 7.00 - 8.00 Zumba Fitness. |
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Every 3rd Monday 11-1.00 Parkinsons UK |
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Wednesday- 6.45- 7.45 Yoga Class. |
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Every 1st Thursday 7-9 West Ham Labour Ward meeting |
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Thursday 6.45 7.45 Pilates. |
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Friday 12-2 Darul Janna Prayers |
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Every 2nd and 4th Saturday 10-11 Councillors surgery. |
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We also have had several 'Fun days', The Queen's birthday celebrations day, Workshops for locally based Youth groups- |
discussion for the prevention of knife crime. |
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Other bookings taken :- Welfare trust community day, Leaseholders meeting, Tenants & Residents meetings, Children's Birthday |
Parties, Mendi, All faiths festive day. Training workshops. Councillor's advice surgeries, Ward meetings. Women's' group. |
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One of our biggest challenges has been the local authorities request that we now consider an annual revenue, that would pay |
them £25,000 per annum for rent which would mean signing a new lease. This is not in line with the current lease held and |
would mean a complete review of the organisations status. |
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Given the buildings current disrepair- roof problems, some internal electrics, overhaul of kitchen etc. we would need to address |
these issues ourselves or look at alternatives. |
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Vicarage Lane Centre |
Report of the Trustees |
for the Year Ended 31 March 2017 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as |
defined by the Companies Act 2006. |
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The Vicarage Lane Centre has a Management Committee made up of 3 members including Chair, Secretary, and Treasurer, who |
meet quarterly (unless any emergency business arises where an emergency meeting will be called). The Management Committee |
is responsible for the strategic direction and policy of the Charity. The day to day running of the centre is carried out by the |
Committee. |
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All trustees give their time voluntary and receive no remuneration or other benefits. |
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Recruitment and appointment of new trustees |
Policy and procedure for identifying selection and appointment of new trustees are as follows:- |
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Under the requirements of the Memorandum and Articles of Association, the trustees are elected to serve for a period of 3 years, |
after which they must be re-elected at the next Annual General Meeting. |
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Trustees are invited and encouraged to attend induction and training sessions to familiarise themselves with the charity. Led by |
the Chair/facilitator, the areas to be covered are:- |
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Obligations of Management Committee members and Memorandum and Articles of Association. |
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Latest published accounts, future plans and the community centre aims and objectives of the charity. |
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REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
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Registered Charity number |
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Registered office |
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Trustees |
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- appointed 1.4.16 |
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Approved by order of the board of
trustees
on
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Vicarage Lane Centre |
Statement of Financial Activities |
for the Year Ended 31 March 2017 |
31.3.17 | 31.3.16 |
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Unrestricted
fund |
Total
funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
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Investment income | 2 |
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Total |
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EXPENDITURE ON |
Raising funds | 3 |
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NET INCOME |
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RECONCILIATION OF FUNDS |
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Total funds brought forward |
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TOTAL FUNDS CARRIED FORWARD |
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16,390 |
Vicarage Lane Centre |
Statement of Financial Position |
At 31 March 2017 |
31.3.17 | 31.3.16 |
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Unrestricted
fund |
Total
funds |
Notes | £ | £ |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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FUNDS | 6 |
Unrestricted funds | 20,228 | 16,390 |
TOTAL FUNDS |
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16,390 |
The charitable company is entitled to exemption from audit under |
Section 477 of the Companies Act 2006 for the year ended 31 March 2017. |
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The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in |
accordance with Section 476 of the Companies Act 2006. |
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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. |
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These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 |
relating to charitable small companies. |
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The financial statements were approved by
the Board of
Trustees
on
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Vicarage Lane Centre |
Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
1. | ACCOUNTING POLICIES |
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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 2015)', 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. |
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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. |
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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. |
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Taxation |
The charity is exempt from corporation tax on its charitable activities. |
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Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
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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. |
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Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
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2. | INVESTMENT INCOME |
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31.3.17 | 31.3.16 |
£ | £ |
Interest receivable - trading | - | 6 |
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3. | RAISING FUNDS |
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Other trading activities |
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31.3.17 | 31.3.16 |
£ | £ |
Purchases |
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Support costs | 8,507 | 7,685 |
7,967 | 8,571 |
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4. | TRUSTEES' REMUNERATION AND BENEFITS |
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There were no trustees' remuneration or other benefits for the year ended 31 March 2017 nor for the year ended |
31 March 2016 . |
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Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2017 nor for the year ended 31 March 2016 . |
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Vicarage Lane Centre |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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31.3.17 | 31.3.16 |
£ | £ |
Trade creditors |
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Accrued expenses |
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6. | MOVEMENT IN FUNDS |
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At 1.4.16 |
Net movement
in funds |
At 31.3.17 |
£ | £ | £ |
Unrestricted funds |
General fund | 16,390 | 3,838 | 20,228 |
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TOTAL FUNDS |
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3,838 | 20,228 |
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Net movement in funds, included in the above are as follows: |
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Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
Unrestricted funds |
General fund | 11,805 | (7,967 | ) | 3,838 |
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TOTAL FUNDS |
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( |
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Comparatives for movement in funds |
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At 1.4.15 |
Net movement
in funds |
At 31.3.16 |
£ | £ | £ |
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Unrestricted Funds |
General fund | 13,499 | 2,891 | 16,390 |
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TOTAL FUNDS | 13,499 | 2,891 | 16,390 |
Comparative net movement in funds, included in the above are as follows: |
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Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
Unrestricted funds |
General fund | 11,462 | (8,571 | ) | 2,891 |
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TOTAL FUNDS | 11,462 | (8,571 | ) | 2,891 |
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7. | RELATED PARTY DISCLOSURES |
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There were no related party transactions for the year ended 31 March 2017. |
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