OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-12-31-accounts

ST. JOHN'S HALL TRUSTEES COMMITTEE

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

12 Bessemer Court Hownsgill Industrial Park Knitsley Lane Consett Co Durham DH8 7BL

ST. JOHN'S HALL TRUSTEES COMMITTEE

CONTENTS

Page
Accountants' report 1
Profit and loss account 2 - 3
Balance sheet 4
Notes to the financial statements 5 - 6

ST. JOHN'S HALL TRUSTEES COMMITTEE

ACCOUNTANTS REPORT TO THE PROPRIETOR

ON THE UNAUDITED FINANCIAL STATEMENTS OF ST. JOHN'S HALL TRUSTEES COMMITTEE

In accordance with the engagement letter dated 3 February 2021, we have prepared for your approval the financial information of St. John's Hall Trustees Committee for the year which comprise the profit and loss account, the balance sheet and the related notes from the entity’s accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/ membership/regulations-standards-and-guidance.

This report is made solely to you, in accordance with the terms of our engagement letter dated 3 February 2021. Our work has been undertaken solely to prepare for your approval the financial information of St. John's Hall Trustees Committee and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical release TECH08/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than you for our work or for this report.

You have approved the financial information for the year and have acknowledged your responsibility for it, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for its compilation.

We have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial information.

TC Group

.........................

Date:.........................

12 Bessemer Court Hownsgill Industrial Park Knitsley Lane Co Durham

DH8 7BL

ST. JOHN'S HALL TRUSTEES COMMITTEE

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

Turnover
Bar Income
Events, Donations & Hall Hire
Grants Received
Cost of sales
Opening stock of finished goods
Bar, Catering & Event Costs
Finished goods purchases
Closing stock of finished goods
Gross profit
Other operating income
Electric refund relating to 2020
Coronavirus exceptional support
Administrative expenses
Cleaning
Electricity & Gas
Heating Oil
Water
Property repairs and maintenance
Subscriptions & Licences
Accountancy
Charitable donations
Bank charges
Insurances
Sundry expenses
Depreciation
Operating profit		 2022
£
1,318
6,267
2,989
(1,282)
76.94%
-
-
3,039
1,500
2,901
-
14,209
1,075
476
470
(100)
1,100
563
2,094		 £
7,754
20,074
12,465
40,293
(9,292)
31,001
-
(27,327)
3,674		 2021
£
500
6,987
-
(1,318)
81.06%
1,645
16,335
2,310
1,111
967
106
13,062
615
438
2,581
-
996
522
2,238		 £
5,602
15,248
11,713
32,563
(6,169)
26,394
17,980
(24,946)
19,428

ST. JOHN'S HALL TRUSTEES COMMITTEE

PROFIT AND LOSS ACCOUNT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Investment revenues
Bank interest received
Profit before taxation		 2022
19
9.17%		 19
3,693		 2021
1
59.67%		 1
19,429

ST. JOHN'S HALL TRUSTEES COMMITTEE

BALANCE SHEET

AS AT 31 DECEMBER 2022

Notes
Fixed assets
Tangible assets
Current assets
Stocks
Debtors
Cash at bank
Creditors: amounts falling due within
one year
Net current assets
Total assets less current liabilities
Capital account
2		 2022
£
1,282
442
43,782
45,506
(600)		 £
9,761
44,906
54,667
54,667		 2021
£
1,318
888
39,664
41,870
(1,387)		 £
10,491
40,483
50,974
50,974

ST. JOHN'S HALL TRUSTEES COMMITTEE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

The principal accounting policies applied are as follows.

1.1 Accounting convention

The financial information is compiled on an agreed accounting basis that enables profits to be calculated such as to meet the requirements of Section 25 of the Income Tax (Trading and Other Income) Act 2005, and provides sufficient and relevant information to enable the completion of a tax return.

The financial statements have been prepared in accordance with the recognition and measurement principles of UK GAAP - FRS 102 [other than the following departures which are neutral for income tax purposes:

Presentation and disclosure requirements of FRS 102 have not been followed as these are not relevant to the sole trader.

1.2 Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.3 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.

FOR THE YEAR ENDED 31 DECEMBER 2022

ST. JOHN'S HALL TRUSTEES COMMITTEE

NOTES TO THE ACCOUNTS (CONTINUED)

1 Accounting policies

(Continued)

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings

between 10 - 20% per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2 Revenue Reserves

Revenue Reserves
Opening balance
Profit
Closing balance		 2022
£
50,974
3,693
54,667		 2021
£
31,545
19,429
50,974