The Millennium Memorial Hall Trust
Charity Number 1045690 Website: www.littletonhall.co.uk
Trustees’ Annual Report: 1[st] January to 31[st] December 2022
Objective
The objective of the Trust is to provide a modern and wellequipped village hall that enables a wide range of events and activities for the benefit of all sectors of the communities of Littleton and Harestock and the adjoining parishes.
Legal and Administrative
The Trust is governed by a Trust Deed dated 4[th] April 1995 (as amended by Deeds of Variation in 1999, 2001 and 2004). The Trustees who have served during the year are: Simon Kingston (Chairman) A (term ended May 2022) Barbara Kingston (Chairman) A (elected July 2022) John Biddlecombe C (resigned May 2022) Terence Rath (Secretary) A Cathy Wallis B (term ended May 2022) Donna Oliver B Frances Martin B Julia Whitburn C Edward Maun C Stephen Handford (Honorary Treasurer) A Timothy Jackson C (from May 2022) Geoffrey Cox B (from November 2022)
A Elected by ballot by parishioners in open meeting
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B Appointed by users of the Hall that qualify for block booking rates
C Appointed by the Littleton and Harestock Parish Council
Correspondence Office: Hall Manager, Katie Burnell, 18 Pine Close, South Wonston, SO21 3EB Bankers: Barclays Bank, PO Box 87, Winchester, SO23 8TN
Financial Review
The financial statements are attached to this report. They show a deficit for the year on unrestricted funds of £6,336. Income from the Hall lettings increased to £29,489 in 2022 compared with £15,006 in 2021 but was still a long way short of the preCovid level of £41,350 in 2019. Government and local Council grants of £4,866 for businesses affected by the pandemic offset part of the income shortfall. Interest on COIF deposit funds was £1,141 compared with just £14 in 2021, due to several increases in bank base rates.
Total costs were £43,572 which was £5,466 higher than 2021, mainly due to increases in electricity prices (albeit partly offset by the benefit of solar panels installed in April 2022) and higher maintenance costs because of greater usage of the Hall. In addition, a cost of £1,740 was incurred on an Energy Audit report, but this was fully funded by a Hampshire County Council grant, included in Income.
No trustee received any remuneration or expenses.
Cash balances at 31[st] December, 2022 amount to £96,226 of which £91,085 is invested with COIF. Unrestricted reserves at 31[st] December, 2022 amount to £59,039. The Trustees consider the reserves held in the Balance Sheet to be at an adequate level and meet their responsibilities and commitments to protect and advance the Trust’s current activities and to enable it to progress long term aims and objectives. The Charity continues to be a satisfactory going concern, despite the deficit in 2022 and a likely small deficit in 2023. The Trust’s cash reserves are more than adequate to withstand another year of deficit.
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The restricted reserves amounting to £162,700 represent the written-down value of the building, being the Millennium Memorial Hall. The original cost of £406,751 of the building is being written off over 40 years. As at 31[st] December, 2022 there have been 24 years of write offs with a future 16 years until the balance is finally written off. A professional valuation for insurance purposes carried out in 2018 indicated that full rebuilding costs of the Hall were £809,000. The Trustees consider that this figure may now be on the low side, as building costs have increased since 2018. Another formal valuation for insurance purposes will be carried out during 2023.
Performance
During 2022 there were several changes of Trustees. The Chairman Simon Kingston completed his 6 year period of service as a Trustee, and stepped down under the terms of the constitution. The Trustees thank him for his excellent commitment and leadership over his period of office. Barbara Kingston was elected to replace him in July 2022. The Hall continues to benefit from the strong commitment of the Hall Manager and the Trustees’ commitment to maintain the Hall to a high standard.
The Trust installed solar panels on the hall roof in April 2022, which has mitigated the increasing costs of electricity.
The Trustees again complied with the requirements of the Licensing Act 2003. The Premises Licence has proved valuable in the past and will no doubt be valuable in the future.
On the administrative side, the Trustees comply with Employment Law with formal Contracts of Employment and Job Descriptions for the manager and cleaning staff. The Trust operates a pension scheme through NEST, which is open to all employees. The Trust submitted the Trustees’ Annual Return and Accounts to the Charity Commission as required.
The Outlook for 2023
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The outlook for the year ahead is still subject to some uncertainty, because booking levels have still not fully recovered to pre-Covid levels. The Hall’s main user, the village Pre-school, continues to operate, and increased its hours of use of the Hall from September 2022.
The Trustees consider that a further small deficit is likely in 2023, because of the continuing Covid19 impact on rental income and the relatively fixed nature of much of the cost base. However, the Trust is in no danger of running out of cash for the foreseeable future.
The Trust plans to seek a grant in 2023 for the purchase of a battery to store electricity generated by the solar panels, thus further reducing electricity costs and carbon footprint. Further cost and carbon saving measures are also being investigated.
The Trust will be implementing the Hallmaster booking system in 2023, to streamline the administration of bookings. In addition, the Hall website will be upgraded and will include a link to the new booking system.
The Trustees have continued to make a provision of £3,000 per annum to provide for the future cost of replacing the main hall floor, and £4,800 per annum to provide for the cost of regular refurbishments. A refurbishment and redecoration programme is planned in August 2023. As at 31[st] December 2022 the accumulated provisions for floor replacement and refurbishments amounted to £24,000 and £18,678 respectively.
Acknowledgments
Hard work and good team work were the basis for the smooth running of the Hall and for which our thanks are due to many people:
Katie Burnell, the Hall Manager for looking after the Hall and the staff in what has been another busy year.
Steve Handford for all his work as the Treasurer and in particular keeping the Trustees advised of the financial position of the Trust by the preparation of comprehensive Management Accounts and Notes. He has also produced and prepared the
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Statutory Accounts for 2022 for vetting by the Independent Examiner and subsequent filing with the Charity Commission.
Lisa Fielding, the Parish Clerk, for her co-operation and attention to matters concerning both the Trust and the Parish Council.
Our Independent Examiner, Paul Brooks, who agreed to examine the Trustees’ Accounts thus ensuring that the Trustees will have met all statutory and other requirements.
Finally, many thanks to all the Trustees who served during the year.
Barbara Kingston Stephen Handford, Chairman of Trustees Hon. Treasurer and Trustee
Date: 17th April 2023
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THE MILLENNIUM MEMORIAL HALL TRUST
Statement of Financial Activities for the year ended 31st December 2022
| Note INCOMING RESOURCES Charitable Income Hire of Hall Covid 19 government grants received HMRC Job Retention Scheme receipts Hampshire County Council grant - Energy Audit Interest received TOTAL INCOMING RESOURCES RESOURCES EXPENDED Hall Running Costs Salaries, Wages and Honorarium Maintenance and Cleaning Materials 2 Administration (incl. licences ) Insurance Services New & Replacement equipment Provision for future redecoration 3 Provision for foor replacement 2 Energy Audit cost (funded by grant above) Depreciation of solar panels Depreciation: Statutory Write-of of Assets TOTAL RESOURCES EXPENDED NET MOVEMENT OF FUNDS BALANCES BROUGHT FORWARD BALANCES CARRIED FORWARD |
Unrestricted Restricted Funds Funds 2022 2022 £ £ 29,489 4,866 - 1,740 1,141 37,236 18,537 5,205 2,117 1,791 6,062 - 4,800 3,000 1,740 320 - 10,169 43,572 10,169 (6,336) -10,169 |
TOTAL 2021 £ 15,006 16,573 1,468 - 14 |
|---|---|---|
| 33,061 | ||
| 16,047 3,773 3,055 1,661 5,340 430 4,800 3,000 - - 10,169 |
||
| 48,275 | ||
| (15,214) | ||
| 65,375 172,869 59,039 162,700 |
253,458 | |
| 238,244 |
THE MILLENNIUM MEMORIAL HALL TRUST
Balance Sheet as at 31[st] December 2022
| Note | 2022 | 2021 | |
|---|---|---|---|
| £ | £ | ||
| FIXED ASSETS | |||
| Building | 4 | 162,700 | 172,869 |
| Loose Equipment | 4 | - | - |
| Solar Panels | 4 | 9,278 | - |
| 171,978 | 172,869 | ||
| CURRENT ASSETS | |||
| Debtors & prepayments | 5 | 2,398 | 3,143 |
| Cash at Bank | 6 | 96,226 | 104,475 |
| 98,624 | 107,618 | ||
| LIABILITIES: | |||
| Amounts falling due within one year | 7 | 24,863 | 7,365 |
| Amounts falling due in excess of one year | 7 | 24,000 | 34,878 |
| 48,863 | 42,243 | ||
| NET CURRENT ASSETS | 49,761 | 65,375 | |
| NET ASSETS | 221,739 | 238,244 | |
| FUNDS | |||
| Unrestricted | |||
| Revenue Reserves | 8 | 59,039 | 65,375 |
| Restricted | |||
| Written-down Hall Fund | 4 | 162,700 | 172,869 |
| TOTAL FUNDS | 221,739 | 238,244 | |
| APPROVED BY THE TRUSTEES ON 30th JANUARY 2023 AND SIGNED ON ITS BEHALF BY :- | |||
| B. Kingston | S. Handford |
THE MILLENNIUM MEMORIAL HALL TRUST
CASH FLOW STATEMENT for the year ended 31st December 2022
| Cash received from charitable activities Hall lettings |
2022 £ 28,229 4,866 - 1,740 1,141 35,976 34,627 9,598 - 44,225 (8,249) 104,475 96,226 (8,249) |
2021 £ 15,791 16,573 1,468 - 14 |
|---|---|---|
| Cash received from Government Covid 19 grants | ||
| Cash received from HMRC wage furlough grants Cash received from HCC Energy Audit grant |
||
| Cash received from investments TOTAL CASH RECEIVED Cash expended on charitable activities Hall operations Capital expenditure on solar panels Redecoration costs TOTAL CASH EXPENDED CASH SURPLUS/ (SHORTFALL) Bank balances at 1st January 2022 Bank balances at 31st December 2022 CASH SURPLUS/ (SHORTFALL) |
||
| 33,846 | ||
| 31,729 - - |
||
| 31,729 | ||
| 2,117 | ||
| 102,358 104,475 |
||
| 2,117 |
THE MILLENNIUM MEMORIAL HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES
General
The financial statements have been prepared in accordance w accounting standards and under the historical cost conventio
Funds
Income associated with the running of the Hall is not subject regarding its use, and is available for application to the gene the Trust.
The accounts include transactions, assets and liabilities for w be held liable.
Incoming Resources
Receipts from hiring fees are accounted for in the year in whi place.
Interest is accounted for when received.
Donations are accounted for when received.
Resources Expended
Expenditure includes provisions for goods and services receiv but not paid for as at 31st December.
Fixed Assets
For statutory accounts purposes, the building is being deprec The solar panels acquired in April 2022 are being depreciated expected useful life of 20 years.
2. MAINTENANCE
The hall is in its twenty-third year of operation.
It is the Trustees' intention to continue to make improvement
and to keep the hall in first class condition. The flooring of th require to be renewed in the foreseeable future. An annual ch being made to provide funds for that replacement. At 31 Dec provision for replacement of the floor was £24,000.
3. REDECORATION
The Trustees carried out a triennial refurbishment in August 2 charge of £4,800 is being made to provide funds for the cost The cost of work done in 2022 was £nil so nothing was charg provision. At 31 December 2022, the provision for redecoratio
4. FIXED ASSETS AND THE RESTRICTED HALL FUND
Following guidance from the Charity Commissioners, the orig building is being written off over forty years in the statutory a costs of building and equipping the hall have been paid and t outstanding covenants.
The write-down in 2022 impacts the net book value as follow
Building
| £ | ||
|---|---|---|
| Gross book value | At 1st January 2022 | 406,751 |
| At 31st December 2022 | 406,751 | |
| Write down | At 1st January 2022 | 233,882 |
| At 31st December 2022 | 244,051 | |
| Net book value | At 1st January 2022 | 172,869 |
| At 31st December 2022 | £ 162,700 |
The annual write down on Buildings is not reflected in the Tru accounts, as it cannot form part of their cost structure and w charges to hall users. There are no cash flow implications. On and renewal of hall equipment will be the responsibility of cu trustees. As and when the hall needs replacement, the comm repeat the fundraising activities conducted by their forebears 1995-99. It is unrealistic to assume that trustees can build up to replace the hall in the future.
Solar Panels were fitted to the roof of the Hall in April 2022 at They are being depreciated over the minimum expected usef
5. DEBTORS AND PREPAYMENTS
The Trust is owed or has prepaid the following sums:-
| Prepaid insurance premiums Other prepaid costs Other debtors - due from hirers |
2022 1,568 |
|---|---|
| 830 | |
| 0 | |
| £ 2,398 |
6. CASH
The following sums are held on the Trust's behalf:-
| Barclays Bank current account COIF Deposit Account |
2022 5,141 |
|---|---|
| 91,085 | |
| £ 96,226 |
7. LIABILITIES
The Trust has the following liabilities:-
| Future rentals paid by hirers Sundry creditors and accruals Provision for redecoration Provision for foor replacement |
2022 |
|---|---|
| 5,368 | |
| 817 | |
| 18,678 | |
| 24,000 | |
| £ 48,863 |
8. UNRESTRICTED FUNDS
Revenue reserves at 31st December 2022 were £59,039. By trustees' meetings these funds can be designated for any pu wish.
with current
on
to any restrictions ral purposes of
which the Trust can
ich the hire takes
ved by the Trust,
ciated over 40 years. d over their minimum
ts where necessary,
e main hall will
harge of £3,000 is cember 2022, the
- An annual of the regular work. ed against the on was £18,678.
inal cost of the accounts. All of the there are no
s:-
| Loose | Solar Panels |
|---|---|
| Equipment | |
| £ | £ |
| 27,852 | NIL |
| 27,852 | 9,598 |
| 27,852 | NIL |
| 27,852 | 320 |
| NIL | NIL |
| NIL | 9,278 |
ustees' management ill not be reflected in ngoing maintenance rrent and future munity will need to s in 1922-26 and p a reserve with which
t a cost of £9,598. ful life of 20 years.
2021 1,698 1,445 0 £ 3,143 2021 9,531 94,944 £ 104,475 2021 6,628 737 13,878 21,000 £ 42,243
resolution of the rpose that the trustees