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.ne￿jortV1Ijag¢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 pU￿ose9 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 cU￿ntlY 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 ￿Or￿ge 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 so￿ell (Bookings Secretary)
Moira GTimwood
Website, Communications, Media
Julie Utton (Facebook and User Communications)
Mark Patmore (Website)
Finan¢ial review
Going con¢ern
The T￿Ste¢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 Sh￿1 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
r￿Ort, 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
Depr￿latIOn
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 recO￿lISeS 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 cu￿ent 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.
Tan￿￿le 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 c￿h 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 ch￿lty. 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 reco￿11Sed 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
h￿l'S valuation, c￿￿entlY 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.
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