The Crockham Hill Village Hall Trust
Trustees’ report and financial statements
For the year ended 31 March 2023
Registered charity number 1044489
The Crockham Hill Village Hall Trust
Trustees’ report and financial statements
| Contents | Page | |
|---|---|---|
| Trustees’ report | 3 - 4 | |
| Statement of Trustees’ responsibilities | 5 | |
| Independent Examiner’s report | 6 | |
| Statement of Financial Activities | 7 | |
| Balance sheet | 8 | |
| Notes to the financial statements | 9 | - 13 |
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The Crockham Hill Village Hall Trust
The Trustees present their annual report and the financial statements for the year ended 31 March 2023.
Establishment of the Trust
The Trust is a registered charity, no. 1044489, and was constituted by deed on 17 February 1995.
Principal Purpose and Objective
The principal purpose and objective of the Trust is to provide a village hall facility and to make it available for hire by local residents within the immediate area of benefit and for hire generally by the public at large.
Chairman of Trustees Statement
The accounts for the year ended 31st March 2023 have built upon the improved results of the previous year with hiring income increasing by 22% to £42,860 and overall income by 11.5%.
There was an operating loss before depreciation of £3,203 due to a 61% increase in expenditure, caused mainly by the resurfacing of the overflow car park. The total cost of this work plus legal and planning fees was £47,829. In return for a 10 year usage licence, Kent County Council agreed to contribute £26,868 to the overall cost and make an annual contribution for the same period to ongoing maintenance.
The three contracting parties to the 10 year maintenance agreement will contribute to creating an annual fund of £3,250, which in normal circumstances should be more than adequate and will be held by us in a restricted usage fund.
The substantial increase in gardening costs reflects the major tree and bush clearance work, including removing diseased ash trees.
For the year ahead we must replace the Hall’s existing double glazing and frames as these are beyond repair, as are the main toilets. The hall is now of an age where we must expect the annual repair costs to routinely increase and greater attention must be paid to ways of reducing our utility costs.
Our unrestricted reserves, excluding the fixed asset fund, are at a healthy level of £82,765 in line with our policy of retaining them at approximately two years income. This brings me on to reasons why two years is appropriate. Our hiring income is heavily dependent upon two non-village hirers to the extent of £27,000. Replacing this loss of income may not be possible either in a reasonable timescale or at all.
In addition, the income from village sources has diminished to no more than 4% despite rates being unaltered for the last four years and discounted. The latter is not a comfortable position to be in for a village hall but reflects the general social trend post COVID.
Financial Performance and Reserves
The financial performance and movements on the Trust’s funds for the year ended 31 March 2023 are set out in the attached statement of financial activities on page 7.
The result in relation to incoming and outgoing resources on the General Fund was a net operating loss before depreciation of £3,203 (2022 Surplus of £10,958).
The Car Park Maintenance Fund is £3,250, (2022 - £8,917) and the Hall Cyclical Maintenance Fund £22,000, (2022 - £20,000). The opening balance of the former was fully utilised in this financial year. The current balance consists of new contributions from The School Charitable Trust, Kent County Council and the Hall itself. The latter fund will be used for its intended purpose during the forthcoming year and will be replenished as far as possible from the General Reserve.
The year end balance on the General Fund was £60,765 (2022 - £62,278).
Independent Examiner
Mrs Marnie Woodward FCMA has kindly consented to continue to act as the independent examiner of the Trust’s accounts.
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The Crockham Hill Village Hall Trust
Trustees
The Trust’s constitution provides for the appointment of a committee of eight Trustees, comprising three elected members and five representative members. The elected members are elected at the annual general meeting of the Trust and the representative members are appointed by each of the five local organisations specified in the Trust’s constitution. The management committee may appoint up to three further, co-opted members. The Trustees who held appointment during the year were as follows:
Elected Trustees
Neil Marshall
Representative Trustees
Crockham Hill (C.E.) (Controlled) Primary School - Emily Blake Crockham Hill Players Society (‘CHIPS’) - Mo Tobin Crockham Hill W.I. - Judy Newton Holy Trinity Parochial Church Council - June Davies Westerham Parish Council - Deborah Coen Co-opted Trustees Leah Loughlin Nick Naismith Alan Wesley (Chairman) Officers Trust Secretary - Deborah Coen Trust Treasurer - Neil Marshall Hall Manager - Clive Folkard Bankers CAF Bank Limited Kings Hill West Malling Kent ME19 4TA Independent Examiner Mrs Marnie Woodward FCMA The Old Forge Smiths Lane Crockham Hill Kent TN8 6RH Principal address of the Trust Crockham Hill Village Hall Church Road Crockham Hill Kent TN8 6RP
Alan Wesley Chairman
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The Crockham Hill Village Hall Trust
Trustees’ responsibilities in relation to the financial statements
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. The trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees on 10 May 2023 and signed on their behalf by:
Alan Wesley Chairman
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The Crockham Hill Village Hall Trust
Independent Examiner’s Report
Independent Examiner’s Report to the Trustees of The Crockham Hill Village Hall Trust
I report on the accounts of the Trust for the year ended 31 March 2023, which are set out on pages 7 to 13.
Respective responsibilities of Trustees and Examiners
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act
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to follow the procedures laid down in the general Directions given by the commission under section 145(5)(b) of the 2011 Act
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to state whether particular matters have come to my attention
Basis of Independent Examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent Examiner’s statements
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 130 of the 2011 Act and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mrs Marnie Woodward FCMA
Chartered Management Accountant
The Old Forge Smiths Lane Crockham Hill Edenbridge Kent TN8 6RH
02 November 2023
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The Crockham Hill Village Hall Trust
Statement of Financial Activities
for the year ended 31 March 2023
----- Start of picture text -----
General Restricted Designated Funds Total Funds Total Funds
Fund Funds 2023 2022
Fixed Assets Other
Fund
Income and expenditure
Notes
Incoming resources
Donations (gross) £0 £0 £0 £0 £0 £4,711
Hall hirings £42,860 £0 £0 £0 £42,860 £35,199
Maintenance Contribution £0 £2,000 £0 £0 £2,000 £750
Fund raising £0 £0 £0 £0 £0 £0
Interest receivable 2 £620 £0 £0 £0 £620 £107
Total incoming resources £43,480 £2,000 £0 £0 £45,480 £40,767
Resources expended
Hall running and redecoration expenses
3 £46,683 £0 £0 £0 £46,683 £29,059
Net operating surplus before depreciation
(£3,203) £2,000 £0 £0 (£1,203) £11,708
Depreciation 5 £0 £0 £15,033 £0 £15,033 £14,828
Net incoming/outgoing resources before transfers (£3,203) £2,000 (£15,033) £0 (£16,236) (£3,120)
Gain / (loss) on investment (£429) £0 £0 £0 (£429) (£261)
Transfer from General Fund £2,119 (£7,667) £3,548 £2,000 £0 £0
Net movement in funds (£1,513) (£5,667) (£11,485) £2,000 (£16,665) (£3,381)
Fund balances brought forward at 1 April 2022 £62,278 £8,917 £431,574 £20,000 £522,769 £526,150
Fund balances carried forward at 31 March 2023 £60,765 £3,250 £420,089 £22,000 £506,104 £522,769
----- End of picture text -----
Notes:
a) There was no other recognised income or expenditure other than that reflected in the above statement.
b) The notes on pages 9-13 form part of these financial statements.
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The Crockham Hill Village Hall Trust
Balance sheet
as at 31 March 2023
| Fixed assets Tangible fixed assets 5 Current assets Debtors and prepayments 6 Investment 7 Deposit 8 Cash at bank Current liabilities Creditors: amounts falling due within one year 9 Net current assets Total net assets Funds Restricted Funds 10 - Car park maintenance fund Unrestricted - General fund - Fixed assets fund 11 - Other designated funds 11 Balance carried forward Notes |
£420,089 £431,574 £3,460 £4,521 £5,962 £6,274 £78,000 £75,007 £5,602 £6,478 £93,024 £92,280 £7,008 £1,085 £86,016 £91,195 £506,105 £522,769 £3,250 £8,917 £60,765 £62,278 £420,089 £431,574 £22,000 £20,000 £506,104 £522,769 2023 2022 |
|---|---|
Approved by the Trustees on 10 May 2023 and signed on their behalf by:
| Alan Wesley | Neil Marshall |
|---|---|
| Chairman | Trustee |
The notes on pages 9-13 form part of these financial statements.
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The Crockham Hill Village Hall Trust
Notes
forming part of the financial statements
1 Accounting policies
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the Trust’s financial statements.
Basis of preparation
The financial statements have been prepared in accordance with the Statement of Recommended Practice
“Accounting and Reporting by Charities” (SORP 2005) and other applicable accounting standards under the historical cost accounting convention. The Trust is exempt under Financial Reporting Standard No. 1 from the requirement to prepare a cashflow statement.
The Trust’s objects are to establish and manage a village hall. The Trustees make the Hall available to individuals and group undertakings at a fair rental rate in order to recover the establishment and administration costs. It is on this basis that the financial statements have been prepared on a going concern basis.
Donations receivable
Donations made to the Trust as gifts or under deeds of covenant are accounted for in the period in which they have been received or become receivable. Donations received as gift aid payments include an element of Gift Aid recovered at the 20% basic rate of tax.
Fixed assets and depreciation
Fixed assets representing the Hall and related fixtures and fittings are recorded at cost. Freehold land which has been donated is recorded at nominal value. Professional fees have been capitalised where appropriate.
In the year ended 31 March 2023 depreciation has been provided as follows:
Freehold buildings 2% on cost Fixtures and fittings 15% on cost
Investments
Investments are stated at market value as of the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.
Taxation
The Trust is a registered charity under the Charities Act 1993 and is not assessable to taxation on its activities.
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The Crockham Hill Village Hall Trust
Notes (continued)
2 Interest Receivable
| CAF Bank Limited M&G Charibond l running expenses Insurance Electricity Rates and water rates Cleaning and supplies Repairs and maintenance Gardening Hall licences Website Costs Legal Fees Miscellaneous expenses Hall manager’s fees Total |
2023 2022 £504 £12 £117 £95 £620 £107 2023 2022 £1,411 £1,309 £4,708 £4,738 £1,007 £253 £5,168 £4,900 £20,521 £9,518 £4,232 £429 £1,075 £1,423 £1,005 £361 £3,061 £0 £495 £2,128 £4,000 £4,000 £46,683 £29,059 |
|---|---|
3 Hall running expenses
4 Payments to Trustees and connected persons
In the year ended 31 March 2023, £492 in respect of costs incurred on the Trust’s behalf during the year were reimbursed to a Trustee (2022 - £695).
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The Crockham Hill Village Hall Trust
Notes (continued)
- 5 Tangible fixed assets
| Cost at 1 April 2022 Additions in year Disposals in year Cost at 31 March 2023 Accumulated depreciation At 1 April 2022 Charge for the year Disposals in year Depreciation at 31 March 2023 Net book values At 31 March 2023 At 31 March 2022 |
Freehold Land and Buildings Fixtures and Fittings £694,720 £106,564 £0 £3,724 £0 (£320) £694,720 £109,968 £264,615 £105,095 £13,894 £1,139 £0 (£144) £278,509 £106,090 £416,211 £3,878 £430,105 £1,469 |
Total £801,283 £3,724 (£320) £804,687 £369,709 £15,033 (£144) £384,598 £420,089 £431,574 |
|---|---|---|
6 Debtors and prepayments
| Hall hirings receivable Insurance prepaid Licenses and Subscriptions Repairs and Maintenance Electricity Water Hall running expenses Other Total |
2023 2022 £360 £1,160 £1,492 £1,337 £36 £201 £192 £179 £0 £83 £0 £241 £630 £570 £750 £750 £3,460 £4,521 |
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The Crockham Hill Village Hall Trust
Notes (continued)
7 Investment
M&G Charibond Fixed Income Fund Accumulation shares.
----- Start of picture text -----
2023 2022
Opening market value £6,274 £6,440
Additions - -
Income reinvested £117 £95
- -
Disposals / withdrawals
Unrealised Gain / (loss) (£429) (£261)
Closing market value £5,962 £6,274
----- End of picture text -----
8 Deposit
A call deposit account is maintained with CAF Bank Limited, a recognised bank under the Banking Act 1987 and a subsidiary undertaking of the Charities Aid Foundation. The balance outstanding on the account is pooled with other funds in the London money market and earns interest on a daily basis.
9 Creditors
| Amounts falling due within one year Prepaid Hall hiring charges Electricity Water rates Legal Fees Administration Expenses Repairs and Maintenance Licences and Subscriptions Cleaning and supplies Total |
2023 2022 £1,625 £1,085 £741 £0 £62 £0 £3,061 £0 £234 £0 £504 £0 £211 £0 £570 £0 £7,008 £1,085 |
|---|---|
10 Restricted funds
| Car Park Maintenance Fund Total |
Balance Balance 01-Apr-22 Incoming Outgoing Transfers from/to General Fund 31-Mar-23 £8,917 £2,000 £0 (£7,667) £3,250 £8,917 £2,000 £0 (£7,667) £3,250 Movement in Resources: |
|---|---|
A Car Park Maintenance Fund was established for the purposes of maintaining the overflow car park. Contributions were made during the year by the School Charitable Trust (38%), Kent County Council (23%) and the Village Hall Trust (38%).
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The Crockham Hill Village Hall Trust
Notes (continued)
11 Other designated funds
| Fixed Asset Fund Cyclical maintenance reserve Total |
Balance Balance 01-Apr-22 Incoming Outgoing 31-Mar-23 £431,574 £3,548 (£15,033) £420,089 £20,000 £2,000 £0 £22,000 £464,402 £5,548 (£15,033) £442,089 Movement in Resources: |
|---|---|
A Fixed Assets Fund has been provided out of the General Fund to recognise the net value of fixed assets which cannot easily be turned into cash to cover operating expenses or to fund an operating deficit. The value of the fund is adjusted each year to reflect additions to fixed assets and depreciation.
A reserve of £22,000 (2022 - £20,000) has been provided out of the General Fund for redecoration and maintenance of the Hall on a cyclical basis. An appropriate adjustment to the reserve is made in each financial year of the Hall’s operation and reflected in the respective financial statements.
12 Building expenditure commitments
No building expenditure has been contracted for that has not been provided in these financial statements.
13 Independent examiner
No remuneration is payable to the independent examiner (2022 – nil).
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