| SectionE | Financial review |
|---|---|
| Brief statement of the | Thereserves policy relatestoour current assets held in reserves, |
| charity's policyon reserves | comprising ofthecurrent accountwithLloyds Bank andthedeposit |
| accountheld at Cambridge andCountiesBank.Nodesignated,restricted | |
| or endowmentfundsare heldbythe Association. | |
| TheAssociationaimstoholds reseryes betweenf75,000tof90,000asa | |
| contingency forfuturebuilding repairs and maintenance. | |
| TheAssociation'slease isafullyrepairing leasewhichmakes the | |
| Associationresponslble forthemaintenanceofthebuilding.Thelease | |
| also specifies that theexteriormust be decorated everyfifthyear, and the | |
| interior every seventh year, fromthecommencementofthelease | |
| (December2009). | |
| The exteriorisdueforredecorationin2024, andtheinteriorin 2023,and | |
| fundsare requiredtoensure that compliance withthelease redecoration | |
| termsare complied with.An estimateoff7,500is required for the | |
| externalandf5,250fortheinternal redecoration. | |
| An extensiverefurbishment programme has been undertaken since the | |
| commencementoftheleasein2009.However, therearestill major | |
| works thatmay be required atafuturedate.Acontingency reserve to | |
| cover theseexpensesisthereforebeingbuilt. | |
| Specific worksthatmay needto beundertakenare | |
| Repairs totheroof-estimatedcostoff35,000 | |
| Repairs/replacement ofthelift car-estimated costoff50,000 | |
| Asattheendofthelastfinancialyear- 31 March2022,reserves totalled | |
| fJ00,207.12(an increase ontheprioryear).Reserves continuetobe | |
| withinourtargetrange.ltisthe committee'saimtoincreasethereserves | |
| by continuingtocontrol expenditure. | |
| Details ofanyfundsmaterially indeficit |
Not applicable |
| Furtherfinancialreview details | (Optional information) |
| Youmay choosetoinclude additional information, where relevantabout: |
Theprimary sourceofincome for theAssociationis lettings income from both our regular user groups and occasionalhires. |
| .the charity'sprincipal sourcesoffunds(including any fundraising); |
Lettings income needstocover theexpensesincurredfromoperating the Hall, primarily utilities expenditure, cleaning costs and maintenance.As noted above a reserve needstobe kepttocoverthemaintenanceand |
| .howexpenditurehas | refurbishmentoftheHall under thetermsofthelease. |
| supportedthekey objectives ofthecharity; .investment policyand |
Hourly hiring fees fortheregular user groups and our occasional lettings werereduced with effectfromJanuary 2022. |
| objectivesincluding any ethicalinvestment policy |
TheAssociationhadasurplusofincome over expenditure for the financialyear202112022off17,037.15. |
| adopted. |
| ]NCOME&EXPENDITUREACCOUNT FORAPRILXst2O21to | ]NCOME&EXPENDITUREACCOUNT FORAPRILXst2O21to | MARCH 31st2O22 | |||
|---|---|---|---|---|---|
| INCOME | 20.22 | 202r | |||
| !g | E | 4 | |||
| Lettings: | |||||
| RegularUserGloups | L7,A24.OO | 2,235.25 | |||
| Occasional Hires | 3,422.04 | (2s.oo) | |||
| LBofHavering | 286.00 | o.oo | |||
| CoffeeMomings | 230.00 | o.o0 | |||
| Misc | o.oo | 0.00 | |||
| Covid-19 Grant | 10,657.00 | 20,386.00 | |||
| Banklnterest | 824.74 | 1"015.19 | |||
| TOTALINCOME | 32,453.74 | 23,6LL.M | |||
| EXPENDITURE | |||||
| Utilities/Phone | as36 | ?-14,a^g6 | |||
| Rent | +frefl | 3rZEtp | |||
| Maintenance | +111 | zzn.st | |||
| Refurbishment | oo | oo | |||
| Cleaning | qr3!-3. | t,86479 | |||
| Legal,lnsurance and subs | 6{015 | 6E+3t | |||
| Other Expenditure | 957.S | ,l9t5l | |||
| TOTALEXPENDITURE | 15.816.59 | 18,6!€.34 | |||
| EXCESSOFINCOMEOVER EXPENDITURE | {7,937.'r5 | "I3,002-'te | |||
| SALANCESHEETAS | AT MARCH 31st 2022 | ||||
| CURRENTASSETSasatMarch 31st2022 | 2022 | 202! | |||
| 4 | € | E | I | ||
| Lloyds BankCurrentAccount | 10,207.12 | 13,169.97 | |||
| Cambridge & CountiesBank DepositAccount | 90,000.00 | 70,000.00 | |||
| TOTALASSETS | 10€.287.12 | 83,169.97 | |||
| Reoresentedbv: | |||||
| Incomeand Expenditure Account | 17,037.15 | 13,002.10 | |||
| Lloyds Current Account at lvhrch | 31st2021 | 13,169.97 | 2,667.87 | ||
| Cambridge& CountiesBank DepositAccount at fi/hrch31st2021 | 70,000.00 | 67,s00.00 | |||
| TOTALASSETS | 1@.?fi7.12 | 83.169.S? |