Twerton Village Hall
Charity No. 1070005
Company No. 03562435
Trustees' Report and Unaudited Accounts
31 December 2021
Twerton Village Hall Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 4 | |
| Independent Examiner's Report | 5 | |
| Statement of Financial Activities | 6 | |
| Summary Income and Expenditure Account | 7 | |
| Balance Sheet | 8 | |
| Statement of Cash flows | 9 | |
| Notes to the Accounts | 10 to | 16 |
| Detailed Statement of Financial Activities | 17 to | 18 |
Page 1
Twerton Village Hall Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 03562435
Charity No. 1070005
Registered Office
Landseer Road Twerton Bath BA2 1DX
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
D.J. Alecock (Resigned 30 October 2021) A. Amin B. Caldwell (Resigned 21 October 2021) S. Caldwell R.V. Maddocks J. Perry S.L. Squires (Resigned 21 March 2021) Z. Streicher (Resigned 30 October 2021)
Accountants
Incisive Accounting Limited 52 Grosvenor Gardens London SW1W 0AU
OBJECTIVES AND ACTIVITIES
The purpose of the charity as set out in its governing document is to promote the benefit of the inhabitants of Twerton and the neighbourhood together without distinction of race, age, political, religious, sex, sexual orientation or other opinions, by associating together the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants. Also to establish or secure the establishment of a community centre or centres (in particular at Twerton Village Hall, Bath) and to maintain and manage the same as a village hall (whether alone or in co-operation with any local authority or other person or body) and permit the same to be used for such charitable purposes as may be decided by the trustees.
Page 2
Twerton Village Hall Trustees Annual Report
The main activities undertaken in relation to those purposes are the ownership and operation of Twerton Village Hall which is hired out for a wide variety of activities, function’s and community events.
ACHIEVEMENTS AND PERFORMANCE
The Trustees have completed the garden and car park project. It was important to bring in a suitable contractor to ensure that it was done safely and well. The work included clearing rubble, soil, weeds and reinforcing and increasing the height of the surrounding wooden wall, making more parking spaces and more accessible.
We reopened the hall in March 2021. While the Hall was shut the opportunity to repaint the main hall was taken. This was a very difficult project to manage, with the treasurer organising this to make sure it was done up to spec, on a tight budget including cleaning the windows and clearing debris afterwards. This improvement has had a huge ripple effect and was needed to ensure we remain a quality, clean and local venue to hire.
The Trustees continued to work hard to ensure that the government guidance was followed and we could open in a covid secure way. This included expenses on equipment, sanitising stations, cleaning equipment and rewriting a COVID 19 contract for hirers and risk assessment. With continued guidance from ACRE and WERN we continued with the BANES CCN group which has been a valuable asset to the hall especially at this time when we are having to legally abide by very complicated and unclear guidance. It has opened us up to a very useful group of knowledgeable and experienced hall managers and allowed us to be more forward thinking.
We are also trying to make contact with other community based projects in the area to ensure we are part of the local areas future support, with initial contact made covid has put this on the back burner. Contact has been made with local charities like Bath City Farm, St Johns, Carer’s Centre and Timebank Plus.
FINANCIAL REVIEW
During the year we welcomed a local bookkeeper, Sure Books Ltd to improve financial procedures of the Hall. The adoption of a new finance system has streamlined our booking system and improved financial reporting.
As a result of the continued COVID closure, we made only a small profit before the depreciation of the Hall this year.
The rental income from a wireless aerial mast has now ceased. Five business support grants from BANES amounting to £16,347 were awarded due to closure.
PLANS FOR FUTURE PERIODS
The trustees are hoping 2022 will see the hall resume pre-COVID levels of activity. It is felt that the hall is in a strong position to come back stronger and with a greater resilience on the other side. We have a good team in place and are looking to invest in online bookings and renovate the main hall floor, which is another much needed maintenance project and will help us compete with the competition once we reopen. We are currently looking for financial support to invest in a new boiler as currently it is on its last legs and not eco-friendly. Going forward this is an important element. We also hope there will be investment in all community space as we try and bring the community back to halls and the confidence of the most vulnerable back into social spaces.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is a company limited by guarantee.
Page 3
Twerton Village Hall Trustees Annual Report
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
J. Perry Jason Philip Perry (Sep 29, 2022 15:02 GMT+1) Trustee 30 September 2022
Page 4
Twerton Village Hall Independent Examiners Report
Independent Examiner's Report to the trustees of Twerton Village Hall
I report to the charity trustees on my examination of the financial statements of Twerton Village Hall for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the Charities SORP (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Yasar Khan ICAEW Incisive Accounting Limited 52 Grosvenor Gardens London
SW1W 0AU 30 September 2022
Page 5
Twerton Village Hall Statement of Financial Activities
for the year ended 31 December 2021
| Notes Income and endowments from: Donations and legacies 4 Charitable activities 5 Other trading activities 6 Other 7 Total Expenditure on: Other 8 Total Net gains on investments Net expenditure 9 Transfers between funds Net expenditure before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2021 £ 86 10,656 - 16,347 |
Total funds 2021 £ 86 10,656 - 16,347 |
Total funds 2020 £ 148 7,766 420 13,039 |
|---|---|---|---|
| 27,089 31,372 |
27,089 31,372 |
21,373 26,591 |
|
| 31,372 - |
31,372 - |
26,591 - |
|
| (4,283) - |
(4,283) - |
(5,218) - |
|
| (4,283) | (4,283) | (5,218) | |
| (4,283) 296,243 |
(4,283) 296,243 |
(5,218) 301,461 |
|
| 291,960 | 291,960 | 296,243 |
Page 6
Twerton Village Hall Summary Income and Expenditure Account
for the year ended 31 December 2021
| Income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net expenditure before tax for the year Net expenditure for the year |
2021 £ 27,089 27,089 25,537 5,835 31,372 (4,283) (4,283) |
2020 £ 21,373 |
|---|---|---|
| 21,373 | ||
| 20,742 5,849 |
||
| 26,591 | ||
| (5,218) | ||
| (5,218) |
Page 7
Twerton Village Hall Balance Sheet
at 31 December 2021
| Company No. 03562435 Notes 2021 £ Fixed assets Tangible assets 11 271,125 271,125 Current assets Debtors 12 1,682 Cash at bank and in hand 19,153 20,835 Creditors:Amount falling due within one year 13 - Net current assets 20,835 Total assets less current liabilities 291,960 Net assets excluding pension asset or liability 291,960 Total net assets 291,960 The funds of the charity Restricted funds 14 Unrestricted funds 14 General funds 291,960 291,960 Reserves 14 Total funds 291,960 |
2020 £ 276,960 |
|---|---|
| 276,960 4,305 15,062 |
|
| 19,367 (84) |
|
| 19,283 296,243 |
|
| 296,243 | |
| 296,243 | |
| 296,243 | |
| 296,243 | |
| 296,243 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 December 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 30 September 2022
And signed on its behalf by:
Jason Philip Perry (Sep 29, 2022 15:02 GMT+1) J. Perry Trustee
30 September 2022
Page 8
Twerton Village Hall Statement of Cash flows for the year ended 31 December 2021
| Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Decrease/(Increase) in trade and other receivables Decrease in trade and other payables Net cash used in operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2021 £ (4,283) 5,835 (16,347) 2,623 (84) (12,256) 16,347 16,347 - 4,091 15,062 19,153 19,153 19,153 |
2020 £ (5,218) 5,849 (13,039) (165) (1,130) |
|---|---|---|
| (13,703) 13,039 |
||
| 13,039 | ||
| - | ||
| (664) | ||
| 15,726 | ||
| 15,062 | ||
| 15,062 | ||
| 15,062 |
Page 9
Twerton Village Hall Notes to the Accounts
for the year ended 31 December 2021
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 10
Twerton Village Hall Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
| useful life: | |
|---|---|
| Freehold property | 2% Straight line |
| Fixtures, fittings and equipment |
15% Reducing balance |
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Page 11
Twerton Village Hall Notes to the Accounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 12
Twerton Village Hall Notes to the Accounts
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
3 Statement of Financial Activities - prior year
| 3 Statement of Financial Activities - prior year |
||
|---|---|---|
| Income and endowments from: Donations and legacies Charitable activities Other trading activities Other Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2020 £ 148 7,766 420 13,039 21,373 26,591 26,591 (5,218) (5,218) (5,218) 301,461 296,243 |
Total funds 2020 £ 148 7,766 420 13,039 |
| 21,373 26,591 |
||
| 26,591 | ||
| (5,218) | ||
| (5,218) | ||
| (5,218) 301,461 |
||
| 296,243 |
| 4 Income from donations and legacies Donations and fundraising 5 Income from charitable activities Hire of hall |
Unrestricted £ 86 86 Unrestricted £ 10,656 10,656 |
Total 2021 £ 86 86 Total 2021 £ 10,656 10,656 |
Total 2020 £ 148 |
|---|---|---|---|
| 148 | |||
| Total 2020 £ 7,766 |
|||
| 7,766 |
Page 13
Twerton Village Hall Notes to the Accounts
6 Income from other trading activities
| Other revenue 7 Other income Grants 8 Other expenditure Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 9 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 10 Staff costs The company has no employees. |
Unrestricted £ 16,347 16,347 |
Total 2021 £ - - Total 2021 £ 16,347 16,347 |
Total 2020 £ 420 |
|---|---|---|---|
| 420 | |||
| Total 2020 £ 13,039 |
|||
| 13,039 | |||
| Unrestricted £ 21,462 5,835 3,402 673 31,372 2021 £ 5,835 |
Total 2021 £ 21,462 5,835 3,402 673 31,372 |
Total 2020 £ 17,407 5,849 2,495 840 |
|
| 26,591 | |||
| 2020 £ 5,849 |
Page 14
Twerton Village Hall Notes to the Accounts
11 Tangible fixed assets
| Cost or revaluation At 1 January 2021 At 31 December 2021 Depreciation and impairment At 1 January 2021 Depreciation charge for the year At 31 December 2021 Net book values At 31 December 2021 At 31 December 2020 12 Debtors Trade debtors Prepayments and accrued income 13 Creditors: amounts falling due within one year Trade creditors 14 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds |
At 1 January 2021 296,243 296,243 |
Land and buildings £ 287,978 287,978 11,520 5,760 17,280 270,698 276,458 2021 £ 1,607 75 1,682 2021 £ - - Incoming resources (including other gains/losses ) £ 27,089 27,089 |
Fixtures, fittings and equipment £ 3,001 3,001 2,499 75 2,574 427 502 Resources expended £ (31,372) (31,372) |
Total £ 290,979 |
|---|---|---|---|---|
| 290,979 | ||||
| 14,019 5,835 |
||||
| 19,854 | ||||
| 271,125 | ||||
| 276,960 | ||||
| 2020 £ 2,755 1,550 |
||||
| 4,305 | ||||
| 2020 £ 84 |
||||
| 84 | ||||
| At 31 December 2021 £ 291,960 |
||||
| 291,960 |
Page 15
Twerton Village Hall Notes to the Accounts
15 Analysis of net assets between funds
| 15 Analysis of net assets between funds | |||
|---|---|---|---|
| Fixed assets Net current assets 16 Reconciliation of net debt Cash and cash equivalents Net debt |
Unrestricted funds £ 271,125 20,834 291,959 At 1 January 2021 £ |
Restricted funds £ - 1 1 Cash flows £ |
Total £ 271,125 20,835 |
| 291,960 | |||
| At 31 December 2021 £ |
|||
| 15,062 | 4,091 | 19,153 | |
| 15,062 15,062 |
4,091 4,091 |
19,153 | |
| 19,153 |
17 Related party disclosures Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 16
Twerton Village Hall Detailed Statement of Financial Activities
for the year ended 31 December 2021
| Income and endowments from: Donations and legacies Donations and fundraising Charitable activities Hire of hall Other trading activities Other revenue Other Grants Total income and endowments Expenditure on: Premises costs Rates Light, heat and power Premises cleaning Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of land and buildings Depreciation of Fixtures, fittings and equipment Bank charges General insurances Software, IT support and related costs Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping |
Unrestricted funds 2021 £ 86 86 10,656 10,656 - - 16,347 16,347 27,089 417 1,779 768 18,498 21,462 5,760 75 8 1,623 475 122 219 22 933 9,237 673 |
Total funds 2021 £ 86 86 10,656 10,656 - - 16,347 16,347 27,089 417 1,779 768 18,498 21,462 5,760 75 8 1,623 475 122 219 22 933 9,237 673 |
Total funds 2020 £ 148 |
|---|---|---|---|
| 148 | |||
| 7,766 | |||
| 7,766 | |||
| 420 | |||
| 420 | |||
| 13,039 | |||
| 13,039 | |||
| 21,373 276 2,105 788 14,238 |
|||
| 17,407 | |||
| 5,760 89 - 1,617 288 105 13 - 472 |
|||
| 8,344 | |||
| 840 |
Page 17
Twerton Village Hall Detailed Statement of Financial Activities
| Twerton Village Hall Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
673 31,372 31,372 - (4,283) (4,283) - (4,283) 296,243 291,960 |
673 31,372 31,372 - (4,283) (4,283) - (4,283) 296,243 291,960 |
840 |
| 26,591 | |||
| 26,591 - |
|||
| (5,218) | |||
| (5,218) - |
|||
| (5,218) | |||
| 301,461 | |||
| 296,243 |
Page 18