COTGRAVE TOWN COUNCIL

 

 

FINANCIAL STATEMENTS

 

 

FOR THE YEAR ENDED

 

 

31ST MARCH, 2013

 

 

 

 

 

CONTENTS

 

PAGE

 

 

1.      Council Information 

 

2.      Statement of Responsibilities 

 

3.      Notes to the accounts 

 

7.      Income and Expenditure Account

 

 

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Council Information

 

 

Chairman of Council

 

Councillor Ian Shaw

 

 

Vice Chairman of Council

 

Councillor Sarah McGinley

 

Other Councillors

 

Victor Allison (resigned

Louise Attewell

Helena Brumpton-Surgey

Richard Butler (N) (B)

Craig Chewings 

Mick Chewings

Dean Daws (resigned 27/3/13)

Lisa Daws (resigned 27/3/13)

Matt Gable 

Steve Gardner

Bryan Tansley (B)

Pat Walsh

Yvonne Wilson

Vance Wood

 

(B) indicates a member of Rushcliffe Borough Council

(N) indicates a member of Nottinghamshire County Council

 

 

Town Clerk

 

Mrs Julie Stephenson

 

 

Council Offices

 

Cotgrave Leisure & Enterprise Centre, Woodview, Cotgrave, Nottingham,NG12 3PJ

Telephone 0115 989 3876, Fax 0115 989 0439

www.cotgrave-tc.gov.uk     -    E Mail clerk@cotgrave-tc.gov.uk

 

 

Auditors

 

Grant Thornton UK LLP, 4th Floor, Royal Liver Building, Liverpool, LS3 1PS 

 

Internal Auditor

 

Mrs K Knight

 

 

Bankers

 

Co-Operative Bank Plc, 4-5 Exchange Walk, Nottingham, NG1 2NX

 

 

 

 

 

 

 

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Statement of Responsibilities for the Statements of Accounts

 

31st March, 2013

 

 

 

The Councilís Responsibilities

 

The Council is required:

 

to make arrangements for the proper administration of its financial affairs

 

to ensure that one of its officers has the responsibility for the administration of those affairs and to secure economic, efficient and effective use of resources and safeguard its assets.

 

At this Council the Responsible Finance Officer is Andrew Neale - RBS Software

 

  

The Finance Officerís Responsibilities (RFO)

 

The RFO is responsible for the preparation of the Councilís statements of accounts in accordance with Section 151 of the Local Government Act 1972 to present fairly the financial position of the Council at 31st March, 2013 on an income and expenditure basis.

 

In preparing the statement of accounts, the RFO has:

 

selected suitable accounting policies and then applied them consistently

 

made judgements and estimates that were reasonable and prudent, and complied with the code.

 

The RFO has also:

 

kept proper accounting records which were up to date, and

           

taken reasonable steps for the prevention and detection of fraud and other irregularities.

 

 

Further information about the accounts is available from the Town Clerk, Council Offices, Cotgrave Leisure Centre, Woodview, Cotgrave, Nottingham, NG12 3PJ, Tel: 0115 989 3876, E Mail: clerk@cotgrave-tc.gov.uk or visit web site: www.cotgrave-tc.gov.uk

 

This is part of the Councilís policy of providing full information about its affairs.  Interested members of the public have a statutory right to inspect the accounts before the audit is completed. The availability of the accounts for inspection is advertised on the local notice boards.

 

 

  

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Cotgrave Town Council

 

Notes to the Accounts

 

For the Year Ended 31st March, 2013

 

1.         Assets

 

            Assets listed are those of a value greater than £1,000 except those of a nominal value.

           

a)         PA System.

 

b)         Community Assets

 

            The assets listed under community assets are assets which have no determinable

            commercial value and therefore have been included at nil values in accordance with

            CIPFA Accounting Guidance Section 4.9.4.

 

            Grassmere Play Area                                                                                                          

            Broadmeer Play Area                                                                                                         

            Woodview Play Area

            The Green Play Area                                                                                                          

            Ring Leas Play Area                                                                                         

            Allotments at Burhill and land on north side from Burhill to the allotments                                          

            Allotments at Forest Close                                                                                

            Playing Fields (Maddison Park) around Leisure Centre                                                                 

            Teen Shelters on the Green                

            Arthur Ridley Sportsground        

            CCTV Equipment

            Street furniture

            Play equipment at various locations                                                                                     

  

            Cash Machine Housing at Shopping Centre (agreement between Cotgrave Town Council and

            Lloyds/TSB).

                        

c)         Other Assets

 

            The following assets reflect their insurance valuations:-

 

            Cotgrave Futures Community Building                                                                     960,242

            Pavilion                                                                                                                162,300

            Tractor                                                                                                                   11,500

            Office Contents                                                                                                        5,540

            Civic Regalia                                                                                                            1,826

            Garage specified items                                                                                             6,254

             

                                                                                                                                     1,147,662

 

 

            A detailed inventory is available for inspection at Council`s offices.

 

 

 

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2.         Borrowings

 

            At the close of business on 31st March 2013, there were no loans outstanding.

 

3.         Debts Outstanding

 

            At the end of the year there were no  debts outstanding

 

4.         Earmarked Reserves                                        Balance at year end

 

            Election Reserves                                                3,846.00

            Community Reserves                                         32,299.00

            Play Equipment Contingency                                5,000.00

            Play Equipment Replacement                             15,000.00

            Parish Paths                                                          874.00

            Town Plan                                                           3,809.00

            Programmed Projects                                         23,228.00   

            Youth Council                                                      2,000.00

            New Premises                                                   75,000.00

            Play Space                                                         3,166.00

            CCTV Digital Recorder                                         7,000.00

           

                                                                                  171,222.00

                                                                                     

           

4.1        The next election is due in 2015.

 

4.2        At the Council Meeting held on 11th January 2012, Council agreed at Finance and General Purposes its reserves.  This was done to

ensure that council could withstand any unanticipated items of expenditure whilst maintaining a minimum level of reserves and to ensure that Councilís play equipment continues to be maintained to the highest standard. Councilís revised  financial regulations require a minimum Community Reserve of £30,000.

 

4.3         Council required a play equipment contingency fund of £5,000.

 

4.4         £15,000 was set aside for play equipment replacement.

 

4.5         Council has adopted a 'wish list' of those projects which will form the basis for Cotgrave's future planning.  The level of funding currently      

             allocated to it is £23,227.84.

 

4.6         The Town Council is working in partnership with local youth organisations with a view to eventually establishing a Youth Town Council.

           

 

 

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5.         Tenancies

 

A          Council as Landlord

 

Tenant                                     Property                       Rent pa            Repairing

 

            Cotgrave Futures Trustees          Cotgrave Futures            Peppercorn

 

             

B          Council as tenant

 

                                                            Property                       Rent pa            Term

 

Coal Industry Social Welfare       Arthur Ridley Sportsground        773.87                125 years

Organisatiaon (CIWSO)                                                                                      Rent to be reviewed in

                                                                                                                        March 2012

                                                                                                                        (25.3.97-24.3.2122)

 

Coal Industry Social Welfare       Cotgrave Futures building             40.01               50 years (Rent review due every 5 years)

Organisation (CISWO)                and multi play area                                             (11.12.01-10.12.51)        

 

Rushcliffe Borough Council        Grassmere Play area                  275.00              25 years

                                                                                                                        (25.11.92-24.11.2017)

 

Rushcliffe Borough Council         Ring Leas Play area                   265.00               25 years

                                                                                                                         (25.11.92-24.11.2017)

 

Rushcliffe Borough Council         The Green                                 275.00               25 years

                                                                                                                         (25.11.92-4.11.2017)

 

Rushcliffe Borough Council         Broadmeer Play area                    40.00              25 years

                                                                                                                        (21.12.98 -31.10.2023)

 

Rushcliffe Borough Council         Forest Close Land for allotments   35.00              25 years

                                                                                                                        (14.12.2000-31.12.26)

 

 

6.         Section 137 payments

 

            Section 137 of the Local Government Act 1972 enables the Council to spend up to the

            product of £6.80 per head on the electoral roll as at 1st April 2012/13 for the benefit of the people

            in the area on activities or projects not specifically authorised by other powers.

 

7.                   Other grants                                             £ 

           

            Fireworks Display                                  1,600

Royal British Legion                                 100

Cotgrave Futures                                   6,000 

Scout & Guide Hall                                  200

Positive Futures                                    1,500

           

8.         Agency Work

 

          

            In 1996 Cotgrave Town Council made an agreement with Nottinghamshire County Council, in the Parish Paths Partnership Scheme          

            whereby Nottinghamshire County Council , as Highways Authority, has granted financial assistance to this Council to undertake

           minor maintenance work on the local path network.  This agreement was renewed in March 2004.

 

            The aim of this agreement is to establish a partnership between Nottinghamshire County Council and the Town Council to

            harness and co-ordinate local resources and skills with the assistance of grant aid from Nottinghamshire County Council

            with the intention of opening up, repairing and maintaining public rights of way in the area of Cotgrave.

 

            Currently £873.96 is held in reserve.

 

The Town Council also carries out grass cutting on behalf of the Highways authority and the agents for the Shopping Centre.  During 2021-13 Council received £4060.54 income from grass cutting.

 

9.         Advertising and Publicity

 

            The following payments were made.

 

Council produced and delivered four newsletters during the year at a cost of £6130.56

  

10.        Contingent liabilities

 

            At the end of the year there were no grounds for allowing for such contingencies.

 

11.        Pensions

 

            During 2012/13 the Council paid an employerís contribution of £9,815.35 representing

            18.2% of the employees` pensionable pay into Nottinghamshire County Councilís pension

            fund.

 

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