2024-03-31-accounts

ST. MARGARET’S HALL USERS GROUP

Charity Reg No 1071545

REPORT & ACCOUNTS FOR THE YEAR ENDED 31[ST] MARCH 2024

CONTENTS

1. Administrative information

2. Report of the Executive Committee

3. Receipts and Payments Account 4. Statement of Assets & Liabilities

5. Independent Examiners’ Report

6. 2024-2025 Budget

ST MARGARET’S HALL USERS GROUP

1.

ST. MARGARET’S HALL USERS GROUP

ADMINISTRATIVE INFORMATION

EXECUTIVE COMMITTEE (TRUSTEES)

Mr. C. Taylor, Chair Mrs. V. Downing, Vice-Chair Mrs. A. Williams, Secretary Mr. R. Whyborn, Treasurer Mr. P. Bond Ms. L. Collingwood Mr. M. Pound Ms. J Sankey Mrs. P. Tenn Mr. W. Upton

HOLDING TRUSTEES

The official custodian for charities

REGISTERED OFFICE

St. Margaret’s Hall Users Group Coniston Road Cheltenham. GL51 3NU Gloucestershire

INDEPENDENT EXAMINER

Ms. R. Wetherill c/o St Margarets Hall Users Group Cheltenham GL51 3QL

PRINCIPAL BANKERS

CAF Bank plc 25 Kings Hill Avenue Kings Hill West Malling, KENT ME19 4QJ

2.

ST. MARGARET’S HALL USERS GROUP

REPORT OF THE EXECUTIVE COMMITTEE

The Trustees submit their report with the accounts of the Charity for the year ended 31 March 2024.

Principal Object & Status of the Charity & Demonstrating Public Benefit

The Charity’s principal object is to promote the benefits of the inhabitants of Hatherley and surrounding neighbourhood by improving the conditions of public life, though the provision of firstclass public hall facilities, available to all without distinction, at affordable cost. Located at Coniston Road, GL51 3NU.

Administration of the Charity

The Charity is administered and managed by an Executive Committee, who are the managing Trustees in law and in practice.

Review of the Year – General

Financial year 2023-2024 has been another successful one for the hall and its users.

We have maintained hall hire at a high level and have used some £3400 from rent received from hirers to improve and increase the stock of furniture at the premises. The committee has committed to purchase a commercial dishwasher to aid users’ operations, and this will take place in 2024/25. We continue to purchase administrative services to alleviate pressure on existing committee members. This has been successful, and the committee may extend this practice in the future.

A healthy balance sheet is highlighted in the financial review below.

Time pressures on the committee have prevented the continuance of the Community Action Network programme; however, the committee decided to receive only nominal contributions from Lakeside Community Project – a food pantry – and additionally to make a £300 gift towards that project’s Christmas activities for 2023.

As well as the foregoing, we will be looking in 2024/25 to commit to several capital projects, including but not limited to: bigger storage facilities to aid our users including the food pantry, renewal of the hall’s blinds, re-furbishment of the Ladies room, and CCTV.

Review of the Year – Finance

The accounts for the year ended 31 March have been prepared on a receipts and payments basis.

Income: Our total income for the year was £47,509. There were no grants and donations this year , and our solar energy feed-in tariffs were £2486. Our main source of income was hall bookings, which totalled £43,234. So overall, income was down 8.7% on 2022/23.

3.

Expenditure: Our total expenditure for the year was £38,062, up 5.3%. This included our usual operating costs including caretaker services and repair and maintenance charges, rent, rates, Professional costs reflect the first full year of purchasing admin for bookings management. We also repaid loan repayments of £4184 to CBC. Larger project activities totalled £3407, for furniture. The net Income after expenditure was therefore £9447, and the Total Cash Funds as at 31 March 2023 were £97,419. Our long-term liabilities (CBC loan) stood at £31,037.

Risks

The Charity has completed a review of the usual major risks to which it is exposed, to its satisfaction. The capital and reserves position is considered sound. The committee aims to maintain liquid reserves of 6 months turnover or £50,000, additional to known future commitments.

Given the raised levels of Cash funds, I propose that the Trustees commit £40,000 in 2024/25 to a reserve fund earmarked to capital projects as identified in this report; this will leave some £57,419 in unrestricted funds as at 31/03/2023, and as such that is about 14 months of annual turnover.

Clive Taylor, Chair

Signed

16[t] h August 2024

4.

CHARITY COAIMISSIOPI FOR ENGLAND AND WALES 107164S Receipts and payments accounts CC16a Forlhe perfod Peritiy dats 3110Y2024 Section A Receipts and payments funds Total funts La¥tyear A1 Re￿1 43334 43234 47A44 976 1108 383 Commutity & Fu GrdDts& Donaty 112 17T 177 Sub total{Gr(￿S I1￿C¥M for AR) (see table). Sub total 47.X 4T,EQ• A3 C8(etskerSefyi 43d6 5213 2$2 R£pBY& lUnten￿r fwjcg 7.113 7.113 377 3,014 72 Rert& Raies Baik Ch ch￿l￿n0￿a commu￿￿ Evert Ccs 65 310 310 3S7 1,094 4,164 130 q.178 164 Logn A¢paYrne￿ P8tyCa 72 72 810 Sub total 33M86 r¢ha￿, Is•• tabbg Purthases Sub tolal 36.119 Nèt ofr•celpW(payménts) gA47 40.￿0 87,972 6TM1 9.447 18W6 A6 Cajh funds laSty￿r ernl Cash lunds thls yearend 54.0$1 72A67 97*19 CCXX Rl (SS) 3(WJ712024

Paragraphs B2 to B5 replaced by the following:

STATEMENT OF ASSETS AND LIABILITIES AT THE YEAR ENDED 31 MARCH 2024

AT THE YEAR ENDED 31 MARCH 2024 ALL FUNDS	AT THE YEAR ENDED 31 MARCH 2024
ASSETS CASH FUNDS & OTHER MONETARY ASSETS Bank Current Account Bank Reserve Account Petty Cash [£40010.00 transferred CAF to NW in year] INVESTMENT FUNDS – Nationwide Building Society Sub-total CASH FUNDS & MONETARY ASSETS Debtors Uncleared cheques/bank transfers in ASSETS RETAINED FOR CHARITY'S OWN USE - Other (e.g. fixed) Assets Sub-total ASSETS	TBA 2024 £ CAF 32401.14 0.00 65,017.90 97,419.04 0 0 0 0 97,419.04	TBA 2023 £ CAF 62,891.61 72.00 25,007.90 87,971.51 0 0 0 0 87,971.51
LIABILITIES Creditors & Unreturned hiring deposits Uncleared cheques/bank transfers out Sub-total LIABILITIES	0 0 0	0 0 0
TOTAL NET ASSETS REPRESENTED BY:- GENERAL FUND RESTRICTED FUNDS	57419 40000	87,972 0

6.

INDEPENDENT EXAMINERS REPORT

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( Address supplied)
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7.

ST. MARGARET’S HALL

BUDGET 2024-2025

ALONGSIDE SUMMARY OFRECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

UNRESTRICTED (GENERAL) FUNDS

	RECEIPTS		2024-2025		2023-2024		2022-2023
							£
			£ Budget		£ Actual		Examined
	Hall bookings (hire) Annex Hire		35,000 9000		34,490 8744		47,544
	Community and Fund Raising						976
	Events
	Grants and donations		0		0		2,158
	Investment Income /Interest		1200		1612		383
	Non-profit income -Chelt Lottery		150		177		209
	Solar PV Feed-in-tariff		2500		2486		3185
	Less Restricted monies				0		0
	TOTAL		47,850		47,509		54,455
						Hall book-
	PAYMENTS					ing refunds	130
	Charitable Activities -
	Caretaker and Cleaning supplies		8,500		7,448		6,840
	Other professional Services		6,000		6,299		4,245
	Repairs Maintenance, Gardening		5,000		3,505		5,213
	Phone line (Internet)		300		277		252
	All Utilities		7,500		7,113		6,520
	Insurance		900		800	Excl. buildings	377
	Rent (net) and Rates		2800		2614		3,014
	Bank charges		60		65		72
	Charitable Donations		350		310		1,407
	Community Event costs		0		0		357
	Office/Administrative expenses incl. Management/Publicity		1,200		1,178		1,094
	Allowances, (out of pocket costs)		810		810		inc.
	Special projects& Replace- ments, not from restricted funds		3000	Tables & Chairs	3407		2,434
	Sub-total		36,420		33826		31,955
	Loan repayments		4164		4164		4164
	Petty Cash		0		72		0
	TOTAL		40,584		38,062		36,119
	NET RECEIPTS/(PAYMENTS)		7,266		9,447		18,336
	Less NET (PAYMENTS to) /RECEIPTS			Proposed	(40,000)
	from RESTRICTED FUNDS
	FUNDS LAST YEAR END		57,419		87,972		69,636
	FUNDS THIS YEAR END		64,685		57,419		87,972
	- UNRESTRICTED FUNDS
_&&_Cheltenham Borough Council, original loan was			£50,000.
	CBC&& LOAN 2017-2032 – AMOUNT		-£27,780		-£31,037		-£34,198
		OUTSTANDING
			8.