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|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<br>indeficit|Not applicable|
|Furtherfinancialreview details|(Optional information)|
|Youmay choosetoinclude<br>additional information, where<br>relevantabout:|Theprimary sourceofincome for theAssociationis lettings income from<br>both our regular user groups and occasionalhires.|
|.the charity'sprincipal<br>sourcesoffunds(including<br>any fundraising);|Lettings income needstocover theexpensesincurredfromoperating the<br>Hall, primarily utilities expenditure, cleaning costs and maintenance.As<br>noted above a reserve needstobe kepttocoverthemaintenanceand|
|.howexpenditurehas|refurbishmentoftheHall under thetermsofthelease.|
|supportedthekey objectives<br>ofthecharity;<br>.investment policyand|Hourly hiring fees fortheregular user groups and our occasional lettings<br>werereduced with effectfromJanuary 2022.|
|objectivesincluding any<br>ethicalinvestment policy|TheAssociationhadasurplusofincome over expenditure for the<br>financialyear202112022off17,037.15.|
|adopted.||





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||]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?|