2024-09-30-accounts - Sutton-On-Trent Village Fund

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SUTTON ON TRENT VILLAGE FUND (Reg.No. 1054790) ANNUAL REPORT AND ACCOUNTS For the year ended 30th September 2024

SUTTON ON TRENT VILLAGE FUND ANNUAL REPORT AND ACCOUNTS for the year ended 30th September 2024 General Information Trustees' annual report Chairman's Statement Independent examiner's report Balance Sheet Profit & Loss Notes to the accounts

SUTTON ON TRENT VILLAGE FUND ANNUAL REPORT AND ACCOUNTS for the year ended 30th September 2024 CHARITY REGISTERED NUMBER 1054790 REGISTERED ADDRESS 5 Grassthorpe Road Sutton on Trent NG23 6QD OFFICERS & TRUSTEES Chairman J. Pearson Secretary K. Wimpeney Treasurer M. Gough Other TrustS. Favill D. Thomas A. Schofield M. Gregory A. Plant S. Stacey BANKERS Santander UK plc INDEPENDENT EXAMINER C. Sears 26 Main Street Sutton on Trent Newark


	SUTTON ON TRENT VILLAGE FUND

	ANNUAL REPORT AND ACCOUNTS
	for the year ended 30th September 2024

	The trustees present their report for the year ended 30th September 2024

	OBJECTIVES OF THE CHARITY
	The objects of the Village Fund are "the promoton of such charitable purposes in the parish of
	Suton on Trent in the county of Notnghamshire as the trustess shall in their absolute discreton
	and from tme to tme determine'.

	REVIEW OR PROGRESS AND ACHIEVEMENTS
	During the year we have supported organisatons and projects shown in note 3 of the accounts.
	Applicatons for donatons that were received and approved in the year amounted to £2,622.01.
	This is lower than in previous years and the Trustees will look to increse the amount donated in
	future years by close liaison with local organisatons and ensuring they are aware of the availability
	of funds. The Trustees antcipate the charity to have sufcient resources to meet all likely
	requests for donatons in the forthcoming year.

	The Charity's principle source of income is generated from a village festval held in September.
	The trustees wish to place on record their thanks to the many volunteers who assist with the
	Festval. It is impossible to place a monetary value on this help but without it the Festval would not
	be possible.

	FINANCES
	As shown in the Statements, there was a surplus from actvites of £1,543.93. This has been
	credited to the General Fund. A sum of £15,990.45 has been credited to the Deposit Account
	from Sum Up Sales and a further £2,000.00 transferred to replenish the Fund.

	The General Fund has reserves of £49,241.40 and is an unrestricted fund comprised of the following
	elements :

	Fixed assets required for the annual Festval							£3,823
	Reserved for future festval costs and to supplement the Donatons Fund							£42,918
								£46,741

	INDEPENDENT EXAMINATION
	The charity's gross income has exceeded £25,000 and therefore an audit							or independent
	examinaton of the accounts is required. As the gross income is less than							£1 million
	an independent examinaton sufces the requirements of the Charity Commission

SUTTON ON TRENT VILLAGE FUND ANNUAL REPORT AND ACCOUNTS for the year ended 30th September 2024

CHAIRMAN'S REPORT

Another successful year for the Village Fund with donations to causes in the Village in line with our stated target. This is in addition to our traditional donations to the School/PTA.

The festival itself was again a great success, with sizeable investment into the infrastructure for future years. It was well organised by the whole Committee and with a good variety of new and returning acts and a good return on the investment of time and money. Festival goers were engaged in the feedback this year offering opportunities for improvement in the future. This sees the Fund remaining well placed to continue into the next year. Jonathan Pearson - Chairman

SUTTON ON TRENT VILLAGE FUND ANNUAL REPORT AND ACCOUNTS for the year ended 30th September 2024 I report on the accounts of Sutton on Trent Village Festival for the year ended 30th September 2024 RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER 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. It is my responsibility to: * Examine the accounts under s145 of the 2011 Act * to follow the procedures laid down in the General Directions given by the Charity Commission (under s145(5)(b) and * 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 Directives given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and the 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts. INDEPENDENT EXAMINER'S STATEMENT 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 a. to keep accounting records in accordance with s.130 of the Act: and b. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. The matters which did come to my attention were as follows: (a) The signature rights on the bank account are incorrect and therefore in breach of the account rules. This could lead to an issue meaning the account could be frozen on a temporary basis. My recommendation would be for the account mandate to be updated as soon as possible. (b) When looking at the costs and the revenue gained from certain acts atending the festival, a potential agreement of amounts should be discussed to prevent a loss to the festival (although understand unforseen circumstances may on occasion influence this). This years accounts showed transactions from the previous year, however it was excellent to see this has not happened again, as makes accounting much clearer for all to see and understand. C. Sears 26 Main Street; Sutton on Trent; Newark


SUTTON ON TRENT VILLAGE FUND

ANNUAL REPORT AND ACCOUNTS
for the year ended 30th September 2024

		2024		2023
		£	£	£	£
FIXED ASSETS
Cost brought forward		22,082		19,982
Additions inyear		0		2,100
Disposals inyear		0		0
Total Cost at 30th September			22,082		22,082

Depreciation brought forward		18,259		17,303
Depreciation charge foryear		0		956
Accumulated depreciation at 30th Sept			18,259		18,259

NET BOOK VALUE			3,823		3,823

CURRENT ASSETS
Stock	(note 4)	0		0
Debtors	(note 5)	0		330
Bank Deposit		42,233		38,833
Bank Current		2,664		7,822
Cash in hand		521		396

		45,419		47,381

CURRENT LIABILITIES
Expense creditors(note 6)		0		3,690

		0		3,690
NET CURRENT ASSETS			45,419		43,691

TOTAL NET ASSETS			49,242		47,514

CHARITY FUNDS
General Fund			46,742		45,014
Donations Fund			2,500		2,500

			49,242		47,514

These Accounts were approved bythe Trustees on …………………				………………	…………………………….

J. Pearson(Chairman)…………………………………………………………………………..

M. Gough(Treasurer)………………………………………………………………….


SUTTON ON TRENT VILLAGE FUND

ANNUAL REPORT AND ACCOUNTS
for the year ended 30th September 2024

	2024		2023
	£	£	£	£

GENERAL FUND (note 1)

FUND RAISING INCOME
Donations in	640		3960
Previous Years Income	0		200
Festival income	43,921		42,041
		44,561		46,201

INVESTMENT INCOME
Bank interest received	392		141
		392		141

TOTAL INCOME		44,952		46,342


FUND RAISING EXPENDITURE
Expenses re lastyear Festival	0		240
Festival expenditure	43,409		31,535
		43,409		31,775

LEGAL EXPENDITURE	0
ADMINSTRATIVE EXPENDITURE	0		1,218
		0		1,218

TOTAL EXPENDITURE		43,409		32,993

NET INCOME /(EXPENDITURE)		1,544		13,349
Amounts transferred to Donations Fund		2,500		2,944
		(956)		10,405
Balance at start of theyear		45,014		34609

BALANCE AT END OF THE YEAR		42,918		45014


DONATIONS FUND (note 1)

Balance at start of theyear		2,500		2,500
Transferred from General Fund		2,622		2,944
		5,122		5,444
Less donations inyear(note 3)		(2,622)		(2,944)

BALANCE AT END OF THE YEAR		2,500		2,500


SUTTON ON TRENT VILLAGE FUND

ANNUAL REPORT AND ACCOUNTS
for the year ended 30th September 2024

1. ACCOUNTING POLICIES
General- These accounts have been prepared under the historical cost conventon and in accordance with applicable
accountng standards and where appropriate the Statement of Recommended Practce on Accountng by Charites.

Depreciaton and stocks- As there has not been an assessment of the value of assets held no depreciaton has
been calculated. A full audit of all assets held will need to be conducted prior to any further depreciated calculated

General Fund- The purpose of the General Fund is to enable the charity to meet its expenditure commitments for the
following year. This principally is inteneded to cover the costs of the village festval which is held each September.

Donatons Fund- This fund represents amounts set aside for potental donatons in subsequent fnancial years arising
from funds rasied to date.

2. PROFIT ON FUND RAISING ACTIVITIES
		2024		2023
		£		£

Donatons to fund		640		3,960
Bank Interest		392		141
Festval proft		1,544		9,248

		2,576		13,349

Festval Proft is afer charging:-
	Depreciaton on fxed assets	0		956


3. DIRECT CHARITABLE EXPENDITURE
Donatons approved in the fnancial year were as follows:-
SOT School		1,100		1,050
Falls group		1,000		900
Unity Festval Editon		627
Jigsaw Hire Scheme		250
Methodist church		158		994
Outstanding Rafe Prize		50		-
Flowers for S. Storer Funeral		50		-
Wine for Auditor		15		0

		3,249		2,944

4. STOCK
Festval Stocks
		0		0

5. DEBTORS
Simply Sweets		0		50
Co-oP		0		30
Thaymers		0		250

		-		330
6.CREDITORS
Festval expenses unpaid at y/e		-		2,370
Legal expenses to be paid		-		1,320

		0		3690
7. TRUSTEES' REMUNERATION AND EXPENSES
During the year no remuneraton was paid, directly or indirectly, to any tr			ustee or any person known to be connected
with any trustee.

No reimbursement of expenses has been made or is due to be made to any of the trustees in respect of the year other
than for reimbursement of goods and services purchased on behalf of the charity.