2023-01-31-accounts - Newport Village Hall

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NEWPORT VILLAGE HALL

ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2023 Charity Registration Number 1012618

NEWPORT VILLAGE HALL

ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2023

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Contents	Pages
Newport Village Hall information	1
Trustees report	2 – 4
5 year summary of key financial information	7
Independent examiner’s report	8
Statement of financial activities	9
Balance sheet	10
Principal accounting polices	11 - 12
Notes to the accounts	13 - 15

NEWPORT VILLAGE HALL

LEGAL AND ADMINISTRATIVE INFORMATION AS AT 24 MAY 2023

LEGAL AND ADMINISTRATIVE INFORMATION AS AT 24 MAY 2023	LEGAL AND ADMINISTRATIVE INFORMATION AS AT 24 MAY 2023
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PATRON	John Gordon MBE
ELECTED AND CO-OPTED TRUSTEES	Clive Edwards (Chair)
	John Oswin Smith
REPRESENTATIVE TRUSTEES	Yvonne Hannant (Newport Amateur Theatrical Society)
FINANCE MANAGER	Elaine Edwards
	Account2Me
	1 Reynolds Court
	Newport, Saffron Walden
	Essex CB11 3RJ
BUSINESS MANAGER	Cara Painter
	NW1 Marketing Ltd
	15 Cornmill Court
	Saffron Walden
	Essex
	CB11 3DE
REGISTERED OFFICE	Newport Village Hall
	Station Road
	Newport, Saffron Walden
	Essex CB11 3PL
REGISTERED NUMBER	Charity number 1012618
WEBSITE	www.newportvillagehall.org
BANKERS	National Westminster Bank plc
	250 Bishopsgate
	London EC2M 3UR
INDEPENDENT EXAMINER	P W Hill FCA
	Hillyates, Chartered Accountants
	Hill House, 27 Meadowford
	Newport, Saffron Walden
	Essex CB11 3QL
SOLICITORS	Hewitsons
	Shakespeare House
	42 Newmarket Road
	Cambridge CB5 8EP
ARCHIVE	Essex Record Office
	Accession No. A14156
	Catalogue ref: D/z 675

NEWPORT VILLAGE HALL

TRUSTEES REPORT

The Trustee Management Committee presents its annual report with the accounts of Newport Village Hall for the year ended 31 January 2023 and confirms that the accounts comply with the current statutory requirements.

The accounts have been prepared in accordance with the accounting policies set out on pages 11 and 12 of the attached accounts and comply with the Hall’s governing document 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 (FRS 102).

Structure, governance and management

Constitution
Newport Village Hall was established by deed dated 14 November 1950, which was replaced with a new Governing Document issued by the Charity Commission on 18 July 2005. Newport Village Hall was registered as a charity numbered 1012618 on 3 July 1992.
Organisation

The Newport Hall Trustee Management Committee consists of not more than 8 Elected Trustees. The principal offices of Chair, Deputy Chair and Secretary are normally held by Elected Trustees. All Trustees must resign annually but may offer themselves for re-election. All Elected Trustees are appointed at the AGM on a show of hands.

The Committee also includes Representative Trustees nominated by any of the 11 user groups specified in the charity’s Governing Document. Co-opted members may be elected after each AGM but there must not be more than 2 in number. There are no co-opted members at present. A councillor from Newport Parish Council, nominated by the Council, is entitled to attend Committee meetings but is not a Trustee. Newport Parish Council holds the deeds to the Hall as the Custodian Trustee but does not have any responsibility for its management.

Trustee Management Committee

The members of the Trustee Management Committee are charity Trustees of Newport Village Hall (within the meaning prescribed by the Charities Act 1993) and are responsible for the governance of the Village Hall.

The following were members of the Trustee Management Committee during the year ended 31 January 2023:

Clive Edwards (Chair, appointed 11 May 2022) Peter Gibson (resigned 11 May 2022) John Oswin Smith Yvonne Hannant Jane Nash (resigned 11 May 2022) Christine Mayle (resigned 1 September 2022)

During the year ended 31 January 2023, no member of the Trustee Management Committee received any remuneration for services as a member of that Committee.

Recruitment and Training of Trustees

Newly elected Trustees are recruited either through advertisement, self-referral or by invitation of the Hall Committee. The policy is to recruit members who can offer specific skills or experience, particularly if they are able to fill gaps in the Committee’s knowledge or capability. All new members are provided with a welcome document that outlines the duties and responsibilities of Trustees and a copy of the Charity Commission’s publication ‘Essential Trustees’. They are also given a copy of the Governing Document and the latest available Report and Accounts. Additional training is offered through the dissemination of information and guidance notes, together with attendance at training seminars organised by the Rural Community Council for Essex.

NEWPORT VILLAGE HALL

TRUSTEES REPORT

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Objectives and activities

The object of the charity is the provision and maintenance of a village hall for use by the inhabitants of Newport, Essex and the surrounding area of benefit for recreational, leisure and educational purposes without distinction of political, religious or other opinions.

Newport Village Hall aims to provide a community facility used by a wide range of hirers from all aspects of the local community. The hall currently has an annual footfall of more than 22,000. The objective of the Trustee Committee is to further develop the activities in the hall to reach areas of the community not currently serviced by the hall as well as improve the variety of uses the hall currently operates and revenue streams.

The hall currently operates a baby & children’s playgroup, art group, amateur dramatics society and various other sports, dance, and wellness groups for a multitude of ages. It is available for commercial and private hire and is used for wedding receptions, children’s parties, and family occasions among others.

Achievements and performance

During the past year there has been a major refurbishment of the stage area for use by all groups including resident producers, Newport Amateur Theatre Society. There has also been a rebranding of the promotional material used by the hall including a new website. The organisation has also introduced an online booking system to both streamline the administration involved in this process and improve the user journey for both regular and non-regular hirers.

People

There have been substantial changes during the period to the people involved in the running of the hall.

A new Chair was appointed at the previous AGM who has implemented various changes in the running of the maintenance, administration, marketing, and hirer acquisition areas. The board of trustees also includes John Oswin-Smith and Yvonne Hannant, as detailed above. Both have provided invaluable input and expertise towards the strategic and ethical management of the organisation.

The roles of Secretary and Bookings Clerk have been amalgamated into one role of Business Manager. This role has been completed to a very high standard by Cara Painter of NW1 Marketing Limited.

At time of writing the organisation is looking for cleaning professionals to take over the cleaning of the hall, due to be appointed soon.

Remaining from the previous year are the Bookkeeper, Elaine Edwards of Account2Me, who has continued to keep effective management of the organisation’s finances and the Caretaker, Robert Willis, with continued excellent hard work that has maintained the building to the highest standards. Both Elaine and Robert have had their titles redefined to Finance Manager and Maintenance Manager respectively as recognition of their contribution and continued importance to the organisation.

We are also grateful to all our regular hirers who help to maintain and develop the standards at the Hall.

Accountability

Trustees are required to resign each year at the AGM but may stand again for re-election. Members of the public are welcome to attend any of the Hall Committee’s meetings and copies of the minutes and monthly financial reports are made available on the Hall’s website https://www.newporthall.org.uk. The Representative Trustees on the Hall Committee provide invaluable feedback as regular users of the premises.

In planning the activities for the year and for the future, the Trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

NEWPORT VILLAGE HALL

TRUSTEES REPORT

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Financial review

Results for the year

In what can only be described as a period of redevelopment after the effects of the COVID-19 pandemic the financial results are both disappointing and yet expected. Major investment has been made into areas of the hall utilising grants from the current year and cash reserves developed via COVID-19 grants from the previous year(s). The Trustee group agree that those funds were to future proof the hall for decades to come and the decisions made reflect this ambition.

As highlighted by the 5-year summary of key financial information on page 7 the organisation has posted an operating deficit of £9,295 for the year, massively down from an operating surplus of £8,136 the previous year. The organisation had net expenditure for the year of £14,025 (2022 – net income of £2,248) as shown in the Statement of Financial Activities on page 9.

Reserves and financial position

As at 31 January 2023, cash at bank and on deposit amounted to £26,224, compared with £42,492 in 2022.

In 2011 the Trustees implemented a depreciation policy to write off the buildings based on an initial reinstatement valuation of £380,000 over the maximum allowed period of 50 years. This annual provision for depreciation is charged to the Millennium Fund.

The Trustees have historically sought to maintain a minimum level of reserves equivalent to 4 months of annual expenditure and a maximum of 12 months of annual expenditure. On 6 September 2004, the Trustees voted unanimously to suspend the Reserves Policy while resources were being accumulated to fund the proposed refurbishment project. With the completion of the refurbishment works to the Hall, there is a continuing need to maintain it in a satisfactory condition. The Trustees have reviewed the position and the intention is to maintain a level of reserves in the Village Hall Fund equivalent to no less than 4 months but no more than 12 months of annual operating expenses which are approximately at a level of £29,000. Ideally the level should be in the region of £29,000 but urgent work will not be deferred.

COVID, economic and other events continue to pose major challenges and a high level of uncertainty for many, but the Trustees continue to have every expectation that the Hall has sufficient resources to continue in operation for the next twelve months in meeting its liabilities as they fall due and that the going concern basis of accounting remains appropriate.

• Details of Financial Controls

Newport Village Hall uses a professional bookkeeper Elaine Edwards of Account2Me to deal with income and expenditure and is supervised by the Chairman and/or the Vice Chairman and another account signatory. Mr Peter Hill FCA has acted as the Independent Examiner for the charity, compiling the annual accounts from the records maintained. He will not be standing for re-election at the forthcoming AGM. The Hall Committee regularly reviews the financial controls and arrangements in place and are satisfied that these are appropriate to the Hall’s financial requirements.

• Staff Employment Policy

Newport Village Hall employs one part time staff member whose hours are determined by the needs of the charity. Staff members are paid a fixed hourly rate above minimum levels and all payments are subject to PAYE if appropriate.

Plans for the future

Still outstanding is the registration of the building with the Land Registry and a change in the status of the Hall to a Charitable Incorporated Organisation. There are also plans to substantially upgrade the hall’s facilities including the restoration of the external areas of the building and introduction of broadband to the building.

Approved by the Trustee Management Committee on 24 May 2023 and signed on its behalf by:

Clive Edwards Chair

NEWPORT VILLAGE HALL

5 YEAR SUMMARY OF KEY FINANCIAL INFORMATION

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2023 £ 20,775 2,667 925	*2022* £ 11,387 14,196 625	*2021* £ 4,647 15,261 625	*2020* £ 21,340 - 625	*2019* £ 19,366 - 650
9,372 1,352 12,473 - 2,439 1,165 6,211 300	4,222 512 5,860 - 2,519 906 3,753 300	2,968 305 4,223 - 1,432 929 2,069 300	4,070 607 6,050 - 5,596 956 4,563 300	4,635 618 6,545 30 3,792 929 3,808 300
(33,662)	(18,072)	(12,226)	(22,142)	(20,657)
(9,295) 82 3,520 4,600 (951) (6,892) (5,089) -	*8,136* 2 1,020 - (831) (990) (5,089) -	*8,307* 16 2,033 - (907) - (5,089) -	*(87)* 47 5,315 - (825) (3,085) (5,089) -	*(641)* 68 1,520 - (825) - (4,836) (1,630)
(14,025)	*2,248*	*4,360*	*(3,724)*	*(6,344)*
344,820 2,891 26,224 (4,570)	345,659 2,145 42,492 (6,906)	350,748 470 35,983 (6,059)	355,837 6,701 19,891 (5,647)	360,926 3,423 19,070 (2,913)
369,365	*383,390*	*381,142*	*376,782*	*380,506*
34,208 233,274 101,883	40,491 240,566 101,883	32,703 246,556 101,883	23,343 251,556 101,883	21,102 257,611 101,883
369,365	*383,390*	*381,142*	*376,782*	*380,506*

NEWPORT VILLAGE HALL

INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 31 JANUARY 2023 TO THE TRUSTEES OF NEWPORT VILLAGE HALL

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I report to the trustees on my examination of the accounts of Newport Village Hall for the year ended 31 January 2023 which comprise the statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit go beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair’ view, and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I confirm that I am qualified to undertake the examination because I am a member of the ICAEW which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Hillyates, Chartered Accountants P W Hill FCA Hill House, 27 Meadowford Newport, Saffron Walden Essex CB11 3QL

Independent Examiner

NEWPORT VILLAGE HALL

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2023

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Village Hall £ 3,520 2,667 20,775 82 925	Millennium Fund £ 4,600 - - - -	Building Revaluation Reserve £ - - - - -	Total funds 2023 £ 8,120 2,667 20,775 82 925	Total funds 2022 £ 1,020 14,196 11,387 2 625
27,969	4,600	-	32,569	27,230
33,662 951 - 89	- - 6,892 5,000	- - - -	33,662 951 6,892 5,089	18,072 831 990 5,089
34,702	11,892	-	46,594	24,982
(6,733) 40,941	(7,292) 240,566	- 101,883	(14,025) 383,390	2,248 381,142
34,208	233,274	101,883	369,365	383,390

All of the Village Hall’s activities were derived from continuing operations during the above two financial years.

All recognised gains are included in the above statement of financial activities.

NEWPORT VILLAGE HALL

BALANCE SHEET AT 31 JANUARY 2023

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£ 2,891 26,224	2023 £ 344,820 24,545	£ 2,145 42,492	2022 £ 345,659 37,733
29,115 (4,570)		44,637 (6,906)

	369,365		383,390
	34,208 233,274 101,883		40,941 240,566 101,883
	369,365		383,390

The accounts were approved by the Trustee Management Committee on 24 May 2023 and signed on its behalf by:

Clive Edwards Chair

Trustees

Yvonne Hannant

NEWPORT VILLAGE HALL

PRINCIPAL ACCOUNTING POLICIES

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The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

Basis of preparation

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction values unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The accounts have been prepared in accordance with Accounting and Reporting by Charities; Statement of Recommended Practice applicable to charities preparing their accounts with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Newport Village Hall constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound.

Assessment of going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts and have made this assessment in respect to a period of one year from the date of approval of these accounts. COVID, economic and other events continue to pose major challenges and a high level of uncertainty for many, but the Trustees continue to have every expectation that the Hall has sufficient resources to continue in operation for the next twelve months in meeting its liabilities as they fall due and that the going concern basis of accounting remains appropriate.

Income recognition

All incoming resources are included in the statement of financial activities when the Village Hall is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to the main categories of income:

Voluntary income comprises donations.
Investment income is included in these Accounts when receivable.
Hall lettings and car park rental income is included in these Accounts on an accruals basis, with lettings of the Hall invoiced monthly in arrears

Expenditure recognition

Expenditure is included in the statement of financial activities on an accrual basis, inclusive of VAT.

Hall operating expenses comprise all those costs incurred in directly supporting the income generating activities of the Village Hall.
Charitable expenditure comprises any costs incurred that do not specifically generate income.
Depreciation is a provision calculated to write off the cost of: Fixtures and fittings in equal annual instalments over ten years. Website in equal annual instalments over 4 years commencing 1 February 2023.
Governance costs include those costs associated with meeting statutory requirements of the Village Hall.

Ownership, valuation and refurbishment expenditure relating to Newport Village Hall

Newport Parish Council holds the title deeds to Newport Village Hall as custodian trustee. The land and buildings comprising Newport Village Hall were originally gifted to the charity in 1950 and are now included at a January 2012 valuation made by the Trustees, principally determined by the current reinstatement value of the Hall on the land on which Newport Village Hall occupies. Expenditure incurred in the final phases of the refurbishment have been absorbed into the current valuation.

With the refurbishment of the Village Hall complete, the Trustees consider it appropriate to continue to make provisions for depreciation on the building’s element of the valuation on a straight-line basis at 2% per annum. This has been charged against the Millennium Fund, its income of which was the source of funding of the refurbishment.

NEWPORT VILLAGE HALL

PRINCIPAL ACCOUNTING POLICIES

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Equipment, furniture and fittings

Over a period of many years Newport Village Hall has acquired, either by purchase or by donation, equipment, furniture and fittings appropriate to its use within the Hall and its activities. No value has been attributed to these items in the accounts but they have been insured for a replacement value of £10,500.

The Trustees have implemented a policy of capitalising individual items with a cost greater than £500 or clearly larger items of furniture. These items are being depreciated over their estimated useful life of 10 years and, in the case of the newly developed website, over 4 years commencing 1 February 2023. Other sundry equipment purchases relating to the Hall Refurbishment have to date been written off in premises expenditure as costs of the Millennium Fund.

Fund accounting

Unrestricted funds are available for use at the discretion of the Village Hall in furtherance of its general charitable activities. The Millennium Fund is a Restricted Fund and can only be used for major repairs, renewals, refurbishment or rebuilding of the Village Hall.

Cash flow

The accounts do not include a cash flow statement because Newport Village Hall is exempt from the requirement to prepare such a statement under the Charities SORP (FRS 102) Update Bulletin 1.

Taxation

Newport Village Hall is a registered charity and therefore is not liable for income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

NEWPORT VILLAGE HALL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2023

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1. Grants and donations

Village Hall Fund Newport Fete Anonymous and other sundry donations Millennium Fund – stage refurbishment 2. Hall operating expenses Utilities Office supplies and services Administration and cleaning fees Premises expenditure Hall insurance Bookkeeping Payroll services 3. Governance costs – Village Hall Fund Trustee indemnity insurance Independent examiners fees Office services – data protection fee Training and subscriptions 4. Other costs – Millennium Fund major repairs Premises expenditure Stage refurbishment Hall repainting	2023 £ - 3,520	2022 £ 500 520
	3,520 4,600	1,020 -
	8,120	1,020
	2023 £ 9,722 1,352 12,473 2,439 1,165 6,211 300	2022 £ 4,222 512 5,860 2,519 906 3,753 300
	33,662	18,072
	2023 £ 250 600 35 66	2022 £ 250 480 35 66
	951	831
	2023 £ 6,892 -	2022 £ - 990
	6,892	990

NEWPORT VILLAGE HALL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2023

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5. Analysis of funds

Analysis of funds
Tangible fixed assets Debtors Cash at bank: Nat West accounts Creditors	Village Hall £ 4,820 2,891 26,224 (3,727)	Millennium Fund £ 234,117 - - (843)	Building Revaluation Reserve £ 101,883 - - -	Total funds 2023 £ 340,820 2,891 26,224 (4,570)	Total funds 2022 £ 345,659 2,145 42,492 (6,906)
	30,208	233,274	101,883	365,365	383,390

Village Hall

The Village Hall Fund represents accumulated unrestricted funds available for use at the discretion of the Village Hall in furtherance of its general charitable activities.

Millennium Fund

The Millennium Fund is a Restricted Fund and can only be used for major repairs, renewals, refurbishment or rebuilding of the Village Hall. It represents the accumulation of appeal monies, grants and donations received during the period 2000 to 2018 to fund the cost of the refurbishment of the hall. The vast majority of such refurbishment expenditure has been capitalised and forms the basis of the hall’s reinstatement valuation. From 2011 onwards the Millennium Fund will bear the annual provision for depreciating the building element of the hall’s valuation, currently set at £5,000 per annum.

Building Revaluation Reserve

The Building Revaluation Reserve is a Restricted Fund. The land and buildings comprising Newport Village Hall were originally gifted to the charity in 1950 and the initial insurance valuation of the Village Hall formed the basis of the revaluation reserve. A subsequent January 2004 valuation, based on the value of land on which Newport Village Hall occupies has now been amended by a January 2012 valuation made by the Trustees, principally determined by a current reinstatement value of the hall.

6. Tangible fixed assets

Other equipment £ 7,643 -	Website £ - 4,250	Village Hall valuation £ 400,000 -	Total £ 407,643 4,250
7,643	4,250	400,000	411,893
6,984 89	- -	55,000 5,000	61,984 5,089
7,073	-	60,000	67,073
570	4,250	340,000	344,820
659	-	345,000	345,659

NEWPORT VILLAGE HALL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2023

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7. Debtors

Hall lettings Newport Parish Council reserve fund Sundry debtors and prepayments Creditors: amounts falling due within one year Lettings in advance Lettings deposits Car park rentals in advance Stage refurbishment grant in advance Other creditors and accruals	2023 £ 2,053 200 638	2021 £ 1,723 200 222
	2,891	2,145
	2023 £ 215 100 350 - 3,905	2022 £ 140 400 - 4,600 1,766
	4,570	6,906

8. Creditors: amounts falling due within one year

9. Members of the Trustee Management Committee remuneration

During the year ended 31 January 2023, no member of the Trustee Management Committee received any remuneration for services as a member of the Trustee Management Committee (2022 - £nil).

10. Related party transactions

The substantial changes during the year to people involved in the running of the hall has identified the need to disclose a number of related party transactions. The Chair, Clive Edwards, is the son of the Finance Manager, Elaine Edwards, whose services are provided by Account2Me, a business owned by her. Clive Edwards is also the domestic partner of the Business Manager, Cara Painter, whose services are provided through NW1 Marketing Ltd, a company owned and controlled by her.

During the year, Account2Me provided bookkeeping services of Elaine Edwards of £6,211 as shown in note 2 to the Accounts. An accrual of £500 for January 2023 is included in other creditors and accruals in note 8 to the Accounts.

During the year, NW1 Marketing Ltd provided:

Business management support services of Cara Painter of £3,514.
Website management, hosting, and other related services of £190.
Design, development and delivery of a fully functional website and a new brand for the hall with the ability to allow on-line bookings at a cost of £4,250. The cost has been capitalised as shown in note 6 to the Accounts.
An accrual of £961 for January 2023 costs relating to business management support and website management is included in other creditors and accruals in note 8 to the Accounts.

Save as reported in note 11 below, no member of the Trustee Management Committee had any beneficial interest in any contract with the Village Hall during the year. Whilst some Trustees are members of organisations that make regular use of the Village Hall’s facilities, the Trustees do not consider that there is any material benefit received by individual Trustees.

During the year ended 31 January 2023, 2 members of the Trustee Management Committee had costs totalling £223 reimbursed relating to hall operating costs (2022 – 4 members and £356). These costs were paid against receipts and were wholly incurred on behalf of the Village Hall.

11. Post balance sheet events

The organisation has seen unprecedented interest in booking the hall not only for existing booking types but also new ventures such as promoted concerts, food trucks, cycling start points. The organisation also has various new advertising initiatives to diversify the revenue streams available to the Hall.

We fully expect to be able to maintain suitable reserves to cope with any further uncertainties and only plan new investments based on grant acquisition. On this basis we envisage that the hall will be able to continue operating to perform its functions within our society satisfactorily throughout this year and well into the future beyond.