COLWALL VILLAGE HALL
TREASURER’S REPORT FOR THE YEAR ENDED 31 March 2021
The headline figure in the accounts is that Net Lettings for the year, due to Covid restrictions, were down 86% at £2,921 against £21,170 last year. Amazingly, this produced an operating surplus of £7,844 for the year. This was overwhelmingly due to Government Covid Support Grants of £20,245. Colwall Flicks-in-the-Sticks contributed a donation of £800 during the year. Income from electricity generation was £522 (£673 last year). This does not include Capital expenditure.
Due to two lengthy periods of enforced closure operating expenses were substantially lower at £16,699 against £23,383. Nearly all cost were down with two notable exceptions: the cleaner and caretaker were supported at full rate throughout the closures and restrictions, thanks to the government grants, and gas usage was normal as the heating was kept on all winter to protect the building. Because of the unprecedented circumstances of the Covid pandemic comparisons year-on-year are meaningless.
Advantage was taken of the closure to completely renovate the toilets, kitchen counter-tops were replaced, and blackout blinds were installed in the main hall. Thanks to a grant of £9,903 from Awards for All towards the toilet refit, and donations from the Parish Council and Hall users that covered the full cost of the blackout blinds, the net cost of all these projects was £5,573.
The overall surplus from operations and capital projects was £2,271.
Herefordshire Council once again granted both mandatory and discretionary charitable relief for non-domestic rates.
Capital expenditure for the year was £5,573 made up of: net expenditure of £4,582 on a total refit of the user toilets; £991 for replacement counter-tops in the kitchen; and £1,326 for blackout blinds in the main hall. The latter was fully funded by donations from the Parish Council and Hall users.
The Balance Sheet shows the net worth of the Village Hall, i.e. the assets, and how these are distributed over three designated funds within the accounts. Overall net worth increased to £41,856 from £ 39,585 over the twelve months to 31 March 2021. At the year-end there were no fixed term deposit investments.
The Major Renovations Fund is to prepare for major renovation expense and to protect against any major mishap that might threaten the Hall with closure. The fund is currently £26,899.
The Furniture & Equipment Fund has to cover major replacements and allows for non-essential improvements, rather than necessities, to the Hall’s assets. Historically, it has been financed through fundraising efforts and from hiring out equipment. Income this year was derived only from the hiring out of crockery, cutlery and furniture which was, and probably will continue to be, minimal. At year-end the fund stood at £731. This may well need to be enhanced from the General Operating Account this next year.
The General Operating Account holds the balance of funds. At year-end it was £14,226. This is higher that usual but is likely to come down this next year as the Hall recovers from the Covid pandemic closure. This time next year it may be possible to enhance both the Furniture & Equipment Fund and the Major Renovations Fund as has historically been the norm.
This year could have been disastrous, that it was not was due to the relatively substantial government support afforded us. Hopefully, we can look forward to a return to something approaching normality but full financial normality may yet be some way off.
The Accounts were prepared in accordance with the Charities Commission ‘Statement of Recommended Practice’.
John R. Mills, Treasurer
COLWALL VILLAGE HALL Income and Expenditure for the year ending 31st March 2021
| OPERATING INCOME Net Lettings Equipment Hire Donations & Grants Electricity Feed-in Tariff Miscellaneous Bank Interest OPERATING EXPENDITURE Utilities Insurance Ground rent & lease Caretaker & Cleaner General Maintenance & Supplies Annual Service Contracts & Licences Performing Rights Levy Grounds Maintenance Decorating Administration Crockery & Glassware replacement Miscellaneous Bank Charges Operating surplus/deficit NON-OPERATING INCOME NON-OPERATING EXPENDITURE Capital Expenditure Equipment replacement Non-Operating Surplus/Deficit Net Surplus/Deficit |
2020/21 2,921 10 21,045 522 31 14 24,543 3,349 1,282 125 6,222 811 1,164 499 1,008 0 1,741 0 482 0 16,684 7,859 11,253 15,500 1,326 -5,573 2,286 |
2019/20 21,170 137 1,000 673 20 73 23,073 6,214 1,256 125 6,222 1,874 1,226 560 1,588 1,126 1,576 0 1,616 0 23,383 -311 1,439 3,336 689 -2,586 -2,897 |
2018/19 |
|---|---|---|---|
| 20,486 210 2,050 597 0 55 |
|||
| 23,398 | |||
| 4,329 1,987 125 5,689 2,804 1,319 514 810 1,463 1,482 0 47 0 |
|||
| 20,570 | |||
| 2,828 500 2,355 1,040 |
|||
| -2,896 | |||
| -68 |
COLWALL VILLAGE HALL Balance sheet as at 31st March 2021
| Investments Current Assets Debtors Prepayments HSBC - Current Account - High Interest Account Cash Current Liabilities Creditors Accruals Net Current Assets Net Assets Net Assets at start of year Surplus (Deficit) for year Net Assets at end of year Represented by: General Operating Account Furniture & Equipment Fund Major Renovations Fund |
Notes 2 3a 3b 3c 3d |
2020/21 £ 0 100 613 8,103 34,106 0 42,922 -581 -470 41,871 41,871 39,585 2,286 41,871 14,241 731 26,899 41,871 |
2019/20 |
|---|---|---|---|
| £ 0 |
|||
| 2,683 2,600 2,896 34,091 33 |
|||
| 42,304 -1,882 -836 |
|||
| 39,585 | |||
| 39,585 42,482 -2,897 |
|||
| 39,585 6,392 721 32,472 |
|||
| 39,585 |
COLWALL VILLAGE HALL
Notes to the Accounts for the year ending 31st March 2021
1. Accounting policies General
a. These accounts have been prepared under the historic cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice on Accounting by Charities.
b. It is the policy of the Management Committee to designate annually a predetermined amount from the General Fund to cover any contingencies relating to major refurbishment, redecoration or unforeseen maintenance costs of the Hall.
Fixed Assets
Fixtures, fittings, equipment and small improvements to Land and Buildings have traditionally been purchased from the designated fund for this purpose, amassed from fundraising efforts. They are written off in the year of purchase. However, the Committee has now decided to transfer any remaining balance from the annual surplus on the General Operations Account (remaining after the annual transfer to the Repairs Reserve Fund) to meet such expenses. These assets are insured to the value of £41,624.
2. Legacy The Legacy of £10,000, received in 1997, has now been fully spent.
| 2020/21 | 2019/20 | |||||
|---|---|---|---|---|---|---|
| 3. | Debtors and Creditors | £ | £ | |||
| a. | Debtors | |||||
| Rents owed by users | 0 | 1,432 | ||||
| Electricity repayment due | 0 | 144 | ||||
| Electricity Feed-in Tariff | 100 | 120 | ||||
| Other debtors | 0 | 987 | ||||
| 100 | 2,683 | |||||
| b. | Prepayments | |||||
| Lease prepaid | 100 | 63 | ||||
| Other costs in advance | 513 | 2,537 | ||||
| 613 | 2,600 | |||||
| c. | Creditors | |||||
| Advance lettings | 0 | 1,401 | ||||
| Other creditors | 581 | 482 | ||||
| 581 | 1,882 | |||||
| d. | Accruals | |||||
| Utilities accrued | 80 | 344 | ||||
| Other accruals | 390 | 480 | ||||
| Ground rent due | 0 | 13 | ||||
| 470 | 836 | |||||
| 4. | Lettings | |||||
| Amounts received during year | 1,613 | 21,139 | ||||
| _add:_Owed at 31 March 2021 | 0 | 1,432 | ||||
| _less:_Received for use after 31 March 2021 | 0 | -1,401 | ||||
| 1,613 | 21,170 | |||||
| 5. | Utilities | |||||
| Electricity | 343 | 987 | ||||
| Gas | 2,327 | 2,388 | ||||
| Water | 142 | 2,245 | ||||
| Broadband | 553 | 593 | ||||
| 3,364 | 6,214 | |||||
| 6. | Composition of Funds | Start | Spent | Earned | Transfer | Finish |
| General Operating Account | 6,392 | 0 | 7,849 | 0 | 14,241 | |
| Furniture & Equipment Fund | 721 | 0 | 10 | 0 | 731 | |
| Major Renovations Fund | 32,472 | 16,826 | 11,253 | 0 | 26,899 | |
| 39,585 | 16,826 | 19,112 | 0 | 41,871 |
7. Trustees remuneration and expenses
No remuneration, directly or indirectly, was paid, or was payable, out of the funds of the charity to any trustee or to any person or persons known to be connected with any trustee during the year. No reimbursement of expenses has been made or is due to be made.
Mill Lane, Colwall, Malvern WR13 6EQ
Annual Accounts for the year ending 31 March 2021
The formal independent examiner’s report will be posted in due course.
John Mills, Treasurer