Charity number: 1012618 NEWPORT VILLAGE HALL Trnstees, Report and Unaudited Financial Ststements For The Year Ended 31 January 2024 ',Jiii Mansell & Co Chartered Certified Accountants 5 Duckctts Ivharf South Street Bishops. StortfoTd H¢rtfordshir¢ CM23 3AR
NEWPORT VILLAGE HALL Contents Page Reference and Adrninistration Inforniation Trustees. Annual Report Jndependent Examin¢rs Report Statement of Financial Activities Balance Sheet Notes to the Unaudited Financial Statements 10-15
NEWPORT VILLAGE HALL Reference and Administration Information Patron John Gordon MBE Trustees Mark Patmore- Chair (Appointed 12107123) Julie Utton- Vice Chair (Appointed 1210712023) Peter ATwott (Appointed 1210712023) Moira Grimwood (Appointed 1210712023) Nicola Sorrell (Appointed 1210712023) Sean Fleetwood (Appointed 1210712023) ChTisline Mayle (Appoinled 1210712023) Karcn Turner (Appointed 1210712023) Charity registrxtion number 1012618 Business oddress Nevlport Village Hall Station Road Newport Saffron Walden Essex CBI 13PL Website wWW.nejortV1Ijag¢ha1l.0rg Bank National Westsninster Bank Pl¢ 250 Bishopsgate London EC2M 3UR Solicitors Hewitsons Shakespeare House 42 NewmarkLX Road Cambridge CB5 8EP Independent examiner Wilton Lyndon Lid TIA Mansell & Co. Chartered Certified Accountants 5 Ducketts Wharf South Strect Bishop's Stortford Herts CM23 3AR Page I
NEWPORT VILLAGE HALL Trustees, Annual Report for the Year Ended 31 January 2024 The Trnstees present their annual report together with the financial statements of the cbarity for the year I February 2023 to 31 January 2024 and confirn] they comply with the requirements of the ChaTities Act 2011, the governing document and the Charities SORP. The Trustees who served during the year were: Mark Patmore- Chair (Appointed 12107123) Julie Utton (Appointed 1210712023} Peter Arscott (Appointed 1210712023) Moird Grimwood (Appointed 1210712023) Nicola Sorrell (Appointed 1210712023) Sean Fleetwood (Appointed 1210712023) Christine Mayle (Appointed 1210712023) Karen Turner (Appointed 1210712023) Clive Edwards (Resigned 2110612023) John Smith (Resigned 1910712023) Yvonne Hannanl (Resign¢d 2110612023) Objectives and Activities Policies and obje¢tives 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 recrrdtional, leisure and educational pUose9 without distinction of political, religious 01 other opinions. b. Principle activities 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 Tmstee 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 cumtly operates and revenue streams. The hall cUntlY operates a baby & ¢hildreD'S playgroup, art group, amateur dramatlcs 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. ¢hildTen's parties. and family occasions among others. Public benefit The Trustees have developed their strategic plans to ensure that the charity plans provide public beneflt and achieves its objectives as set out in the Governing Document. The Trustees have given due consideration to general guidance published by th¢ Charity Commission relating to public benefit, including the guidance 'Public benefit: reporting IPB3). Achievements and performance During the course of the past year the newly introduced website, has continued to be updated. The on-line booking system, Hallmaster, has been adopt¢d and has facilitated a more open and integrated process for our sers. This package is relatively new for everyone, so it has been a steep learning curve. The Hall also installcd Broadband with WiFi, after a long wait, and our future pl include (as finances pern]it) refurbishment of the main hall wooden floor and a small additional Orge cupboard. At last year's AGM a new Committee was elerted. comprising eight Trustees. Since then, they have met monthly to allow the charity to fulfil one of it5 objectives - to work with the community, for the community. Due to the financial situation that the Trnstees inherited this has proven to be an on-going cballenge. Page 2
NEWPORT VILLAGE HALL Trustees, Annual Report for the Year Ended 31 January 2024 In order to move the village hall forward each Trnstee is assigned to a role and membership of a wup to look at aspects of the village hall and its administration. All posts except for Robert Willis, Maintenance Manager and Dee Harbridge, cleaner are currently undertaken by volunteers (with relevant experience & skills), who are also Trustees. Chair: Mark Patmore Vice-chair: Julie Utton Finances o Karen Turner (Bookkeeper) Mark Patmore o Sean Fleetwood Facilities Sean Fleetwood (Health and Safety) Julie Utton (Line management cleaneT} Mark Patmore (Line management Maintenance Manager) Christine Mayle {Secretary' Grants and Sponsorship) Peter Ascott (Proj¢¢t Manag¢m¢nt) Bookings o Nicola soell (Bookings Secretary) Moira GTimwood Website, Communications, Media Julie Utton (Facebook and User Communications) Mark Patmore (Website) Finan¢ial review Going con¢ern The TSte¢S continue to &ssess the impa¢t of various ¢conomic and social challenges including inflation, interest rates, cost of living Crisis etc. We have taken these into consideration in planning for our finances and operations for the coming year. Cash flow forecasts and budget projections have been reviewed and the Board of TTUStees have a reasonable expectation that the charity has adequat¢ resources to continue in operational exislence for the foreseeable future. For this reason, it continues to adopt the going concern basis in preparing the financial statements. b. Reserves policy The Trnstees have reviewed the position, and th¢ intcntion is to maintain a level of reserves in the Villag¢ Hall Fund equivalent to no less than 4 months but no moT¢ than 12 months of amiual operdting expenses which ar apprnximately at a level of £29,000. Financial performance Our main income comes from hall Icttings amounting to £29,166 in the year {2023: £20,775). Grants and donations were £6,082 in the yeaT (2023: £10,787) and car park rentals were £2,375 in the year (2023: £925}. Total income including interest received reached £38,061 (2023: £32,569). Expenditure for th¢ year was £41,430 (2023.. £46,594), resulting in a Trent d¢fictt of £3.369 {2023: deficit of £14.025). Structiirey gov¢rnan¢e and management Constithtion Newport Village Hall was eslablished by deed dated 14 NovembeT 1950, which was replaced with a new governing document issued by the Charity Commission on 18 July 2005. Newport Village Hall was registered a charity nUrnber 1012618 on 3 July 1992. Page 3
NEWPORT VILLAGE HALL Trustees, Annual Report for the Year Ended 31 January 2024 b. Organtsatlon The Newport Hall Trustee Management Committee consists of not more than 8 Elected TTUStees. The principal oifices ofchair, Vice Chair and Secretary are nornially held by Elected Trustees. All Trustees must resign annually but may offer thernselves for re-eleclion. All Elected Tmstees are appointed at the AGM on a show of hands. The Committee aEso includes representatives from some of the I l user groups Currently specified in the charity's governing document. Co-opted members may also be elected after each AGM but there may not be more than 2 in number. There are no co-opted members the present time. A COUDcillor from Newport Parish Council, nominated by the Council, is entitled io attend the Committee meetings, but is not an elected Trustee. Our gralitude goes to Janet Arscoti for fulfilling this role. Newport Parish Council holds the deeds of the Hall as the Custodian Trustee but do&g not bave any responsibility for its management. We are also grateful to all our regular hirers who help to maintain and develop the range of activities and facilities at the Hall. c. AccountAbillty 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 minules are made available on the Hall's website https'.l/www.newporthall.org.uk. The Trustees on the Hall Committee, who are also rq)resentatives of the regular users, provide invaluable feedback on the premises. d. Method of appolntment or election of Trustees Newly elected Trnstees are recruited either through the community, self-rderral or by invitation of the Hall Committee. The policy is to recruLt 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 late available Report and Accounts. Additional training is offered through the dissemination of infonnalion and guidance notes, together with attendance at training seminars orgat)ised by the Rural Community Council for Essex. One Trustee has attended RCCE training on 'Finance Essentials for Treasurers and Trustees. Risk mAnAgement We continue to assess, review and plan for all risks the organisation may face now and in the future. All new projects and activities developed and run by Newport Village Hall undergo a risk assessment before they begin. This process highligbts awareness to the potential risks faced and will assist with the development of robust contingency plans. The papenvork r¢lating to disaster plans and risk assessments 8r¢ being worked on in collaboration with the Charity Commission and with help of RCCE providers. The Trustees have identified the risks lo which the charity is exposed and have implemented PTocedures to manage those risks. The risks of tbe charity are Teviewed TNstee meetings on a regular basis. Pl*ns for the future Still outstanding is the registration of the building with the IAnd Registry, painting the exterior areas and an upgrade to the Marion Faber Room exit onto the Common. There are also plans to substantially upgrade the hall's facilities including the restoration of the external areas of the building. Page 4
NEWPORT VILLAGE HALL Trustees, Annual Report for the Year Ended 31 January 2024 Statement of Trustees, responsibilities The Trustees are respon5ibl¢ for preparing the Trustees, Report and the financial statements in accordance with applicable law and Unit¢d Kingdom Accounting Standards. The law applicable to charities in England and Walc8 rwuiTCS the Trustees to prepare financial statements for each financial year which give a true and faiT view of the state of affairs of the charity and of its incoming resources and pliCation of resources, including its income and expenditur4 for that p¢riod. In preparing th¢se fmancial statements, the TNstees are required to: select suitable accounting policies and then apply th¢m consistently? observe the methods and principles of the Charities SORP; make judgements and a¢¢ounting estimates that ar¢ reasonable and prndent. state whether applicable standards have been followed, subject to any material departUTe5 disclosed and explained in the financial statements; and prepare the financial stat¢m¢nts on the going concern basis unless it is inappropriate to PTe5ume that the charity will Continue in business. The Trustees are responsible for keeping adequate accounting records that are sutyicient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the fll]ancial position of the charity and enablc thcm to ensure that the financi statements comply with the Charities Act 1993, the charity (Accounts and Rqiorts) Regulations 2008 and the provisions of the Governing Documenl. They are also responsible for safeguaTding thc assets of the cELarity and hence for taking reasonable steps for the prevention and detection of fraud aDd other irregularities. Approvcd by ord of the members of the Board of Trustees on 30 April 2024 and signed on their behalf by: Patmore- Chair Page S
NEWPORT LLAGE HALL Independent Examiner's Report for the Year Ended 31 January 2024 Independent èxaminer's report to the Trysle¢$ of Neivport Village Hall I report to the Trustees on my examination of the financial statements of Newport Village Hall {'the charity,) for the YGV ended 31 January 2024 whifjh compri&¢ Ihc Statcment of Financial Activities, thc Balance Sh1 and related notes. This Teport is made solely to the rharity's TTUSt¢Cs, as a b(Kly, in accordance with section 145 of the ChaTiti¢s A¢t 2011. My work has been undertaken so that I might state to the charity's Trnstees thos¢ rnattcrs l am requiTcd to state to them in tl)is report and for no other PUTPOSC. To the full¢st ¢xtcnt perniitt¢d by law, I do not accept or &ssume responsibility to anyone other than the charity and the charity's Trustees as a body. for my worK for this rOrt, or for the opinions I bave formed. Responslbilitles and basls of report As the Trustees of the charity you are responsible foT the Preparation of the financial statements in accordance with the requirements of the Charities Art 2011 ('the Act,). I report in respect of my examination of the charity's financial ststements Carried out under se¢tion 145 of the A¢t and in carrying out my ¢xamination I have followed all the applicable Directions given by the CILarity Commission under section 145{5)0)) of the Act. An indq)endent examination does nol involve gathering all the evidence that would be required in an audit and Consequently does not cover all the matters that an auditor ¢onsAders in giving their opinion on the financial statements. The planning and condu¢l of an audit goes beyond the limited assurance that an independent examination can provide. Consequently l express no opinion as to whether the financial slatements 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 confirni that l am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies. I havc complctcd my cxamination. I confirm that no rnateTia] matters have come to my attention in connection with thc examination giving mc causc to bclicvc that in any material respect". accounting records were not kept in Tespect of the charity as Tequired by section 130 of the Act" or the financial statements do not accord with thos¢ records; or tbe financia] statements do not cornply with the applicable requirements concerning the fomi and content of accounts set out in the Charities (Accounls and Reports) Regulations 2008 other than any Tequirement that the accounts give a 'tme and fair view which is not a malter considered as part of an independenl examinatÈon. I have no concerns and have come across no otheT matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Stephen Pinder FCCA MAAT Mansell & Co Chartered Certified Accountants 5 Ducketts Wharf South Street Bishop's Stortford Hertfordshire CM23 3AR Date: 30 April 2024 Page 6
NEWPORT VILLAGE HALL Statement of Financial Activities (including Income & Expendithre Account) for the Year Ended 31 January 2024 31.01.24 TotAI funds 31.01.23 Total funds Unrestrieted funds Restrleted funds Not&s Intome from: Grants and donations Covid 19 rdated grants Income from charitable activities - Hall Income from investments- Interest received Other income- Car pa rental Total income 6,082 6.082 8.120 2,667 20,775 82 925 29,166 438 2.375 38.061 29,166 438 2J75 38,061 Expenditure on: (analysed below) Hall operating expenses Governance costs Other expenses DeprlatIOn Total expenditure {34,929) {349) (34,929) (349) (33,662) (951) (6,892) 5,089 46,594) 1.152 36.4301 5,000) 5,000) 6,152 Net income l (expenditure) Transfers between funds Net movement in funds 1,631 (5,000) (3,369) (14,025) 5.000 3.369 R¢¢oncili*tRon of funds: Totsl fi]nds brought forwaTd Total funds ¢arrfied forward 34.208 335.157 330 157 369.365 383.390 369 365 The above results were deriv from continuing operations. The Charity has no recognised gains OT losses for the year other than thc r¢sults above. Page 7
NEWPORT VILLAGE HALL Statement of Financial Activities (including Income & Expenditure Account) for the Year Ended 31 January 2024 31.01.24 Total funds 31.01.23 Total funds Unrestricted funds Restricted funds Hall operatlDg expenses: Utilities Office supplies and services Administralion and cleaning fees Premises expenditure Hall insurance Bookkeeping Payroll services 9,341 967 17,836 3,026 1,034 2,455 270 9,341 967 17,836 3,026 1,034 2,455 270 9,722 1,352 12.473 2,439 1,165 6,211 300 Governance eosts: Trustee indemnity insurance Independent examiners fees Office services- data protection fee Trdining and sub5CriPtions 250 250 250 600 35 66 951 35 35 64 349 349 Other expenses: Millennium fund- stage refiubishment 6,892 Depreciation: Depreciation of other equipment Dq)reciation of website Depreciation of village hall 89 1,063 89 1,063 5,0 89 5,000 5.089 Page 8
NEWPORT VILLAGE HALL Balance Sheet as at 31 January 2024 2024 2023 Notes Flxed assets Tangible assets 338,668 344,820 Current assets Debtors Casb at bank and in hand 4,213 2,891 33,383 29,115 Cr¢dltors: Amounts falling due within one year 6.055 4.570 Net Current assets 27,328 Net a5set5 365 996 369 365 Chydrity funds Unrestricted funds Restricted funds 35,839 330 157 34,208 335 157 Totsl funds 365.996 369 365 Approved and authorised by the Trustees on 30th April 2024 and signed on their behalf by: Mark Patmore . Chair Page 9
NEWPORT VILLAGE HALL otes to the Unaudited Financial Statements for the Year Ended 31 JanuAry 2024 Accounting policies Summary of significant accounting policies and key accounting estimv4tes The principle ac¢ounting polLCLes applied in ihe preparation of these financial statement5 are sct out below. These policies have been consistendy applied to all the years presented, unless othenvise stated. Statement of compliance The charity is a public benefit entity and these fjnancial statements have been prepared in accordance with 'A¢counting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their a¢¢ounts in ac¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Se¢ond Edition), and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from l January 2015. The financial stst¢ments have been prepared to give a 'true and fair, view and have departed from the Charities {A¢¢ounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following 'A¢counting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their COUnt$ in a¢¢ordan¢¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {Second Edition}, rather than the A¢¢ounting and Reporting by Charities: Statement of Recommended Practice effective from l April 2005 which has since been withdrdwn. Basts of preparatlon The financial statements have been prepared using the historic cost convention except that as disclosed in the a¢¢ounting policies ¢ertain items are shown at fair value. Revenue reeognltion Turnover comprises the fair value of the consideration received or receivable for the sal¢ of goods and provision of services in the ordinary course of the charity's activities. Turnover is shown net of saleFJvalue added t, rdurns, rebates and discounts. The charity recOlISeS revenue when: The amount of revenue can be reliably measured" it is probable that future economic benefits will flow to the entity. and specific criteria bave been met for each of the charity's activiti&8. Tax The charity is exempt from corporation tax on its charitable activities, Ownership? valuadon and refurblsbment expendlture relatlng to Newport Vlllage Hall Newport Parish Council holds the title deeds to NeThyort Villag¢ Hall &$ custodian Trust¢¢. Th¢ land and buildings comprising Newport Village Hall were originally gifted to th¢ charity in 1950 and are now included at a January 2012 valuation rnade by the Trustees, principally deternlined 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 cuent valuatio With the refurbishment of the Village Hall complet4 the Trustees consider it appropriate to ¢ontinu¢ to make provisions for depreciation on the building's element of the valuation on a straight-line basis at £5,000 per annum. This has been charged against the Millennium Fund, its income of which was the Source of funding of the refurbislmient. Tanle Assets Tangible &ssets ar¢ stated in the baIan¢e sheet at Cost, less any subsequent accumulated depreciation and subsequent accwnulated impairment losses. The cost of tangible assets includes directly attributable incr¢mental costs incurred in their acquisition and installation. Page 10
NEWPORT VILLAGE HALL Notes to the Unaudited Financial Statements for the Yeyér Ended 31 January 2024 Depreclatlon Depreciation is charged so as to write off the cost of assets. other than land and properties under construction over their estimated useful lives, as follows: Asset class Other equipment W¢bsit¢ Village hall Depreclation method and rate 10 years straight line basis 4 years straight line basis 80 years straight line basis Debtors, Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid. Cash Ydnd ch equivalents Cash and cash equivalents COrnPTise cash on hand and call deposits, and other short-terni highly liquid Investments that are readily convertible to a known amount of cash and ar¢ subject to an insignificant risk of change in value. Cr¢dltors Creditors are recognised where the chaTity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to s¢ttle the obligation call be measured or estimated reliably. Creditors are Tecognised at their settlement amount. Fund a¢¢ountlng Unrestri¢t¢d fullds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restricted funds can only be used for particular PUTposes within the objectives of the chlty. ResLTiCtions arise when specified by the donor or when funds aTe raised for particular restricted Purposes. Defined colltributlon pension obligydtion A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the charity has no lega] or constructive obligation to pay further Contributions even if the fund does not hold sufficient assets to pay all ernployees the benefits relaling to employ¢¢ service in the current and prior lodS. Contributions to defined contribution plans are reCognis as employee benefit expense when they are due. If contribution payments exceed the conlribution due for service, the ex¢e&s is reco11Sed as a prepayment. Grants and donatlons 2024 2023 Anonymous and other sundry donations Millennium fLmd- Stage refurbishment 6,082 3,520 6,082 8.120 Net kn¢omel(¢xpenditure) N¢t incomel(expenditure) Rs stated after chargingl(crediling): 2024 2023 Depreciation expense Independent cxamincpi fc¢s 6,152 5,089 600 6,152 Page 11
NEWPORT VILLAGE HALL Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 Trnstees, remuneration and benefits There were no TTUStees' remuneralion or other benefits for the year ¢nd¢d 31 January 2024 nor for th¢ y¢ar ended 31 January 2023. Trustees. expenses There were no Trnstees, expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023. Key man¥dgement personnel The charity considers its key management personnel to consist of th¢ Trustees. Staff costs 21b24 2023 Wages and salaries The average monthly numb¢T of ¢mploy¢cs during the y¢ar was as follows: 2024 2023 Full-time equivalents No employee received emoluments in excess of £60,000. Tangible fixed a55et5 Other equipment Vlll8ge Hall valuadon Website Total Cost As at l February 2023 Additions As at 31 January 2024 7,643 4,250 400,000 411.893 4,250 411,893 D¢predation As at l February 2023 Charge for the year As at 31 January 2024 7,073 89 60,0(K) 67,073 6.152 73.225 1.063 65.0(K) Net book value As at 31 January 2024 481 335.000 338.668 As at 31 January 2023 570 340,000 344.820 Debtors 2024 2023 Hall lettings Newport Parish Council r¢serv¢ fvnd Prepayments and accrued income 4013 2,053 200 200 638 4,213 2,891 Page 12
NEWPORT VILLAGE HALL Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 Credltors Creditors: amount$ fallfing due wlthln one year 2024 2023 Due within one year Trade creditors Lettings in advance Lettings dq)osits Car park rentals in advance Accruals and deferred income 2,251 215 100 350 6,055 4,570 Movement In funds Village Hall The Village Hall Fund represents accumulated unrestricted fi]nds availablc for use at the discretion of the Village Hall in furtherance of its general charitable a¢tivities. Millennium Fund The Millennium Fund is a Restricted Fund and can only be used for major Tepairs, renewals, refurbisl)m¢nt or rebuilding of the Village Hall. It represents the accumulation of appeal monies, grants and donations received during the period 2000 to 2018 to fvnd ihe cost of the refurbishment of the hall. The vast majority of such refurbishment expenditure has been ¢apitslised and forn]s the basis of the hall's reinstatemetlt valuation. From 2011 onwards the Millemiium Fund will bear the ajmual provision for depreciating the building element of the hl'S valuation, centlY set at £5,000 per annum. Building Revaluation Reserve The Building Revaluation Reserve is a Restricted Fund. The land and build2ngs comprising Newport Village Hall were originally gifted to the charity in 1950 and the initial insurance valuation of the Village Hall fomed the basis of the revaluation reserve. A subsequent January 2(M)4 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 Trust¢¢s, principally detennined by a CUTrent reinstatement valu¢ of the hail. Page 13
NEWPORT VILLAGE HALL Notes to the Unaudited Financia] Statements for tbe Year Ended 31 JAnuary 2024 Movement in funds- continued Net Transfers Balanee at movement between Balance at 01.0223 in funds funds 31.01.24 Unrestrleted funds Village hall fund 34,208 1,631 35,839 Restrieted hnds Millennium fimd Building revaluation reserve 233274 101.883 (5,0(K)) 228,274 101,883 335 157 330,157 Total funds 369,365 3.369 365 996 Net movement in fund4 included An the above aTC as follows: Net Incoming Resourc¢5 movement resources expended in ndS Unrestricted thnds Villagc hall fund Restricted funds Millennium fund Building revaluation reserve {5,000) (S,0) Totfdl funds 38.061 41,430 3.369 Page 14
NEWPORT VILLAGE HALL Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 Movement in fund$- continued Comparatives for movement in funds Net Transfers Balydnce rdt movement betiveen Balvdnce at 01.0222 in funds funds 31.01.23 Unrestrleted funds Village hall fund 40.941 6,733 Restricted funds Millennium fund Building revaluation reserve 240,566 101.883 (7,292) 233,274 101,883 7.292 335 157 TfjÉ fund5 383,390 14.025 369,365 Comparatives net movement in fund4 included in the above are as follows: Net Incoming Resources movement resources expended in fund$ Unrestricted thnds Village hall fimd 34.702 6,733 Restrficted thnds Millemiium fLmd Building revaluation reserve 4,600 (11,892) (7,292) 11.892 7.292 Total funds 32J69 46.594 10. Related p*rty tran$a¢tlons Ther¢ were no related paty trnnsactions for the year ended 31 January 2024. Page IS