| |
} |
REGISTERED COMPANY NUMBER: 03718895 (England and Wales) REGISTERED CHARITY NUMBER; 1075243
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 August 2023
for
The Milford Millenium Hal! and Community Centre
;
Ward Goodman 4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF
The Milford Millenium Hall and Community Centre
Contents of the Financial Statements for the Year Ended 31 August 2023
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Page|
|Report|of the|Trustees|I|to|4|
|Independent|Examiner's|Report|5|
|Statement of Financial|Activities|6|
|Balance|Sheet|7|to|8|
|Notes|to|the|Financial|Statements|9|to|18|
|Detailed|Statement|of Financial|Activities|19|to|20|
----- End of picture text -----
: the sole shareholder. All profits from the subsidiary are distributed annually to the Charity to further our community |7 objectives.the tradingthe trading trading Trusteessubsidiary;andtheSub-Committees Charitysubsidiary;andtheSub-Committees CharityandtheSub-Committees CharitytheSub-Committees CharitySub-Committees Charity Charity does nottake haveresponsibility an appointedforChief management Executive of or the Seniorday-to-dayStaff Member.operations of thetake haveresponsibility an appointedforChief management Executive of or the Seniorday-to-dayStaff Member.operations of the haveresponsibility an appointedforChief management Executive of or the Seniorday-to-dayStaff Member.operations of theresponsibility an appointedforChief management Executive of or the Seniorday-to-dayStaff Member.operations of the an appointedforChief management Executive of or the Seniorday-to-dayStaff Member.operations of the appointedforChief management Executive of or the Seniorday-to-dayStaff Member.operations of theforChief management Executive of or the Seniorday-to-dayStaff Member.operations of theChief management Executive of or the Seniorday-to-dayStaff Member.operations of the management Executive of or the Seniorday-to-dayStaff Member.operations of the Executive of or the Seniorday-to-dayStaff Member.operations of the of or the Seniorday-to-dayStaff Member.operations of the or the Seniorday-to-dayStaff Member.operations of the the Seniorday-to-dayStaff Member.operations of the Seniorday-to-dayStaff Member.operations of theday-to-dayStaff Member.operations of theStaff Member.operations of the Member.operations of theoperations of the of the the Charity and | : We employed an average of 9 staff over the financial year, this being a full-time Caretaker and a part-time caretaker; 2 : part-time Administrators; a Youth Leader responsible for managing the Youth Club along with 5-6 Youth Workers (all ! part-time). | | COVID-19 7 Our activities are now back to norma! following the end of COVID-19 COVID-19 restrictions, and attendance and activity levels are : back to pre-Covid to pre-Covid pre-Covid levels. |
The Milford Millenium Hall and Community Centre
Report of the Trustees for the Year Ended 31 August 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity's aims are to provide and manage a community centre for the benefit of the Parish of Milford-on-Sea, Lymington, Hampshire and to encourage and promote the personal and social development of young people in the Parish.
As the Trustees of the Charity, we operate a purpose-built Community Centre which opened in September 2010, and _ this report is for our 13th year of operation from this Centre.
We achieve our charitable aims by:
-
Offering our facilities for hire to local organisations and individuals resulting in a broad range of activities including educational classes; music, art, drama, dance, exercise and fitness sessions; meeting rooms for focal societies and community support groups. - Running a well-staffed Youth Club two evenings a week. The activities offered are designed to encourage communication and conversation as well as teaching younger people skills for life. We also run Seahorses Stay and Play group for pre-school children every week which is also very popular.
-
Organising a wide range of activities and entertainment designed to have broad appeal to all ages and be a focal point for the local community.
-
Providing a popular and well-used cafe from Monday to Friday, providing free internet facilities, and also in the evenings, a bar which operates alongside many of the events.
-
Operating a charity shop in order to raise funds for the Centre.
Governance and Organisation
The Charity's governing body is the Board of Trustees which normally meets monthly to discuss operational and strategic matters, There are a number of Sub-Committees which report to the Board dealing with more detailed matters related to the ongoing operation and development of the Centre. All Trustees appointed are focal residents and often were previously part of the broad volunteer base that supports the Charity.
We operate a Charity Shop through a trading subsidiary (Milford Millennium Shop Ltd) of which the Community Centre is the sole shareholder. All profits from the subsidiary are distributed annually to the Charity to further our community objectives.the tradingthe trading trading Trusteessubsidiary;andtheSub-Committees Charitysubsidiary;andtheSub-Committees CharityandtheSub-Committees CharitytheSub-Committees CharitySub-Committees Charity Charity does nottake haveresponsibility an appointedforChief management Executive of or the Seniorday-to-dayStaff Member.operations of thetake haveresponsibility an appointedforChief management Executive of or the Seniorday-to-dayStaff Member.operations of the haveresponsibility an appointedforChief management Executive of or the Seniorday-to-dayStaff Member.operations of theresponsibility an appointedforChief management Executive of or the Seniorday-to-dayStaff Member.operations of the an appointedforChief management Executive of or the Seniorday-to-dayStaff Member.operations of the appointedforChief management Executive of or the Seniorday-to-dayStaff Member.operations of theforChief management Executive of or the Seniorday-to-dayStaff Member.operations of theChief management Executive of or the Seniorday-to-dayStaff Member.operations of the management Executive of or the Seniorday-to-dayStaff Member.operations of the Executive of or the Seniorday-to-dayStaff Member.operations of the of or the Seniorday-to-dayStaff Member.operations of the or the Seniorday-to-dayStaff Member.operations of the the Seniorday-to-dayStaff Member.operations of the Seniorday-to-dayStaff Member.operations of theday-to-dayStaff Member.operations of theStaff Member.operations of the Member.operations of theoperations of the of the the Charity and
Our activities are now back to norma! following the end of COVID-19 COVID-19 restrictions, and attendance and activity levels are back to pre-Covid to pre-Covid pre-Covid levels.
Page |
The Milford Millenium Hall and Community Centre
Report of the Trustees for the Year Ended 31 August 2023
OBJECTIVES AND ACTIVITIES
Events and Activities
We host a broad range of events & activities throughout the year organised by ourselves as well as private individuals, focal businesses, and larger organisations; these include activities such as:
-
Exercise, keep-fit, music, choirs, dance and art classes, etc.
-
Regular meetings of local organisations and interest groups
-
Private events such as weddings, anniversaries, wakes, children's parties etc, making use of the Hall with the stage and big enough for bouncy castles, bands & discos
-
Private and business use, for meetings, conferences, workshops, sales, art exhibitions, etc.
-
Conferences / public meetings / workshops / discussions on matters such as conservation and local development.
We also run a full public entertainment program of music, dance, in-house & touring theatre, comedy, opera, cinema & screenings. We offer a number of these events with dining provided which coupled with our well-stocked bar generates a significant part of our fundraising income.
Trading Activities
We operate a Charity Shop through our trading subsidiary company Milford Millenium Shop Limited (MMSL). The shop each year gifts all of its profit ts MMHCC. This is an important part of the funding of our activities, and particularly for investment in further development of our facility and capabilities.
The charity shop has been operating since 2010 from small premises in the centre of Milford on Sea. In September 2023 we acquired a second shop in an excellent location close to the original shop and the two together more than doubles our trading area allowing us to offer a much wider range of goods and all attractively displayed. This second shop opened in April 2023 and the first few months of trading have been successful with income increased in line with expectations.
Buildings and Facilities
We have a high standard of maintenance for the building and are pro-active in meeting Health and Safety responsibilities, including a rolling review of our risk assessments. We periodically conduct fire risk assessments and ful] electrical condition surveys of the building and continue to ensure that all equipment is well maintained and replaced where necessary.
We continue to invest in our facililies to keep them in full working order and attractive for hirers and users.
Long Term Development
The Trustees acquired land adjacent to the Centre in 2016 to enable future expansion. This land is currently used as storage and as a donations receipt and sorting operation for the charity shop stock. Trustees have recommenced work on how to best use this land long-term to further the aims of the charity.
Public benefit
The Charity meets its requirements to deliver Public Benefit through the broad range of services listed above that are provided to the local community.
Trustees have due regard to charity commission guidance on public benefit.
Page 2
The Milford Millenium Hall and Community Centre
|
| deducting fixed assets from the unrestricted from the unrestricted the unrestricted unrestricted (and undesignated) reserves held undesignated) reserves held reserves held held at the year-end. the year-end. year-end. | Going concern The Trustees confirm that, after making appropriate enquiries, they have reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue continue to adopt the going concem concem basis in preparing these accounts. accounts. | STRUCTURE, GOVERNANCE AND MANAGEMENT | Governing document | Theas defined charitybyis controlledthe Companies by its Act governing2006. document, a deed of trust, and constitutes a limited company, limited by guarantee, | : Recruitment and appointment of new trustees | Trustees are recruited and appointed when there is a sufficient need or room on the Board ofTrustees.
Report of the Trustees for the Year Ended 31 August 2023
OBJECTIVES AND ACTIVITIES
Volunteers We have a highly active and dedicated team of over 150 volunteers who provide support covering administration, refteshments, gardening, shop, kitchen, technical, and other activities. This enthusiastic support has allowed us to operate the Café and Box Office for five days a week and run an extensive programme of events/activities. We have also had the Shop open for an average of24 days a month.
FINANCIAL REVIEW
Financial review 2022-23
Net Income in 2022-23 is £223,866, compared to Net Income in 2021-22 of £204,502 which is 9.47% up on the prior year.
The net surplus/(deficit) in 2022-23 was (£32,018), compared to £5,232 in 2021-22, a decrease of £37,250.
Reserves policy The Milford Millenium and Community Centre (The Charity) instigated a Reserves Policy in 2013-14 to develop cash reserves against possible risks and longer term investment requirements. This is reviewed annually and is designed to:
- Create a business interruption reserve for situations such as Covid-19 which are not covered by insurance 2. Create funding for future expansion of the Centre 3. Provide a general contingency fund to protect against future income downturn or budget shortfall in any operating year. This to include any additional maintenance risks not covered by insurance.
This is reflected in the following reserve allocations:
| Reserves Target& Allocation | Target |
|---|---|
| Non insurance covered Business Interruption egCovid 19 | £50,000 |
| Future Expansion | £60,000 |
| General Contingency | £40,000 |
| Total | £150,000 |
| TheReservesPolicyisreviewedannually. |
The charitable entity has free reserves of £156,590 as at 31 August 2023 (2022: £187,026). The Trustees consider this level of reserves to be sufficient to deliver charitable objectives for the next twelve months. Free reserves are calculated by deducting fixed assets from the unrestricted from the unrestricted the unrestricted unrestricted (and undesignated) reserves held undesignated) reserves held reserves held held at the year-end. the year-end. year-end.
The Trustees confirm that, after making appropriate enquiries, they have reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue continue to adopt the going concem concem basis in preparing these accounts. accounts.
Trustees are provided with the CC3 document from the Charity Commission or training from existing Trustees or external courses in order to effectively carry out their duties as Trustees.
Page 3
The Milford Millenium Hall and Community Centre
Report of the Trustees for the Year Ended 31 August 2023
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03718895 (England and Wales)
Registered Charity number 1075243
Registered office 4 Cedar Park Ferndown Industrial Estate Cobham Road Wimborne Dorset BH217SF Trustees R Bishop D Ellis O H Whitlock Mrs S Whitlock M Walker Mrs L M Bagnall AM Jablonowski (resigned 34.8.23) Ms CR J Jones R Paddison (resigned 30.8.23) Ms VY S Silander P H Ware-Lane Mrs S Fraser (appointed 29.3.23)
Company Secretary OH Whitlock
Independent Examiner Ward Goodinan 4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF Approved by order of the board oftrustees on 12> Eeb-2and signed on its behalf by:
Or Winwretae
OH Whitlock - Trustee
Page 4
|
:
Independent Examiner's Report to the Trustees of The Milford Millenium Hall and Community Centre
Independent examiner's report to the trustees of The Milford Millenium Hall and Community Centre Company’) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.
(‘the
Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's accounts 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
| | |
-
l. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent
-
4, examination; orthe accounts have not been prepared in accordance with the methods and principles of the Statement of Recommendedaccordance withPracticethe Financial for accountingReporting andStandard reportingapplicable by charitiesin the (applicable UK and Republic of to charities Ireland preparing (FRS their102)). accounts in
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 accounts to be reached.
| IM Rodd BSc FCA FCCA : Ward Goodman : 4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF
Date: tb. fobray 304
Page 5
The Milford Millenium Hall and
Community Centre
Statement of Financial Activities for the Year Ended 31 August 2023
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2023|2022|
|Unrestricted|Restricted|Total|Total|
|funds|funds|funds|funds|
|Notes|£|£|£|£|
|INCOME|AND|ENDOWMENTS|FROM|
|Donations|and|legacies|3|36,259|-|36,259|58,993|
|Other trading|activities|4|186,431|-|186,431|145,297|
|Investment|income|5|1,176|-|1,176|212|
|Total|223,866|-|223,866|204,502|
|EXPENDITURE|ON|
|Raising|funds|6|85,312|-|85,312|60,943|
|Charitable|activities|7|
|Overheads|161,072|9,500|170,572|138,327|
|Total|246,384|9,500|255,884|199,270|
|NET INCOMEKEXPENDITURE)|(22,518)|(9,500)|(32,018)|$,232|
|RECONCILIATION|OF|FUNDS|
|Total|funds brought|forward|821,752|440,542|1,262,294|1,257,062|
|TOTAL FUNDS CARRIED FORWARD|799,234|431,042|1,230,276|1,262,294|
----- End of picture text -----
The notes form part of these financial statements
Page 6
!
| | ; |
: |
The Milford Millenium Hall and Community Centre
Balance Sheet 31 August 2023
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|2023|2022|
|Unrestricted|Restricted|Total|Total|
|funds|funds|funds|funds|
|Notes|£|£|£|£|
|FIXED|ASSETS|
|Tangible|assets|12|618,902|427,543|1,046,445|1,071,769|
|Investments|13|1|-|I|I|
|618,903|427,543|1,046,446|1,071,770|
|CURRENT|ASSETS|
|Stocks|14|2,433|-|2,433|2,435|
|Debtors|15|66,927|-|66,927|92,287|
|Cash|in|hand|128,140|3,499|131,639|113,695|
|197,500|3,499|200,999|208,417|
|CREDITORS|
|Amounts|falling due within one year|16|(17,169)|-|(17,169)|(17,893)|
|NET CURRENT ASSETS|180,331|3,499|183,830|190,524|
|ee|es|———$—$_—|Kar|
|TOTAL ASSETS|LESS|CURRENT|
|LIABILITIES|799,234|431,042|1,230,276|1,262,294|
||——|——$—|Se|——_—-|
|NET ASSETS|799,234|43 1,042|1,230,276|1,262,294|
|FUNDS|17|
|Unrestricted|funds|799,234|821,752|
|Restricted funds|431,042|440,542|
|TOTAL FUNDS|1,230,276|1,262,294|
----- End of picture text -----
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
|
:
; :
The members have not required the company (o obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.
-
The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company,
The notes form part of these financial statements
Page 7
continued...
The Milford Milienium Hall and Community Centre
Balance Sheet - continued 31 August 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. andThe financialwere signedstatementson its behalf were approved by: by the Board of Trustees and authorised for issue on JD Fedral. Lkobe.M Bagnal< Trustee :
The notes form part of these financial statements
Page 8
The Milford Millenium Hall and Community Centre
Notes to the Financial Statements for the Year Ended 31 August 2023
- LEGAL FORM
The Milford Millenium Hall and Community Centre is a charity registered in the UK and is a company limited by guarantee, registered in England and Wales, Further details on page 4.
- ACCOUNTING POLICIES
Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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 | January 2019), Financial Reporting 7 Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies | Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of | investments which are included at market value. | Financial reporting standard 102 - reduced disclosure exemptions The charity has taken advantage of the reduced disclosure requirements for small charities under SORP (FRS 102) Update Bulletin 1.
Income and debtors | All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is ! probable that the income will be received and the amount can be measured reliably. | Grants (including those received from government bodies) are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Grant income is deferred when the donor specifies | use of the grant to be in the future, or where there are conditions for full entitlement and those conditions have not | yet been satisfied. : 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. | : Expenditure and liabilities
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
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.
Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Plant and machinery - 33% on cost, 20% on cost and 10% on cost
Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
----- Start of picture text -----
:
----- End of picture text -----
Page 9
continued...
The Milford Millenium Hall and Community Centre
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
- ACCOUNTING POLICIES - continued
Taxation
The charity is exempt from corporation tax on its charitable activities,
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular resiricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Donations Giflaid Legacies Grants Donation from trading sub |
12,290 4,692 10,000 6,000 3,277 |
5,205 3,160 - 10,415 40,213 |
| 36,259 | 58,993 | |
| Grants received, included in the above, are as follows: | ||
| 2023 | 2022 | |
| £ | £ | |
| HMRC CIJRS Furlough Income | - | 81 |
| HMRC Business SupportGrants NFDC - Community Warm SpaceGrant |
- 1,000 |
5,334 - |
| Milfordon Sea Parish Council Grant | 5,000 | 5,000 |
| 6,000 | 10,415 |
Page 10
continued...
| | |
The Milford Millenium Hall and Community Centre
Notes to the Financial Statements - continued for the Year Ended 33 August 2023
|
| 4, | OTHERTRADING ACTIVITIES | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Fundraising events | 90,695 | 69,771 | ||
| Hall and facilities hire | 47,039 | 39,490 | ||
| Barand Cafe | 48,697 | 36,036 | ||
| 186,431 | 145,297 | |||
| 5, | INVESTMENT INCOME | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Interest receivable - trading | 1,176 | 212 | ||
| 6. | RAISING FUNDS | |||
| Other trading activities | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Purchases | 85,312 | 60,943 | ||
| 7. | CHARITABLE ACTIVITIES COSTS | |||
| Overheads | Direct Costs £ 97,178 |
Support costs £ 73,394 |
Totals £ 170,572 |
|
| 8. | NETINCOMEAEXPENDITURE) | |||
| Net income/(expenditure) is stated after charging/(crediting): | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Depreciation -owned assets | 29,207 | 31,696 | ||
| TheIndependentExaminers'remunerationwas£2,892(2022:£2,640). |
:
|
Page I]
continued...
The Milford Millenium Hall and
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
- TRUSTEES' REMUNERATION AND BENEFITS
Community Centre
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
STAFF COSTS
| 10. | STAFF COSTSCOSTS | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Wagesand salaries | 67,484 | 55,070 | ||
| Otherpension costs | 1,122 | 1,006 | ||
| 68,606 | 56,076 | |||
| The average monthly number ofemployees during theyearwas | as follows: | |||
| 2023 | 2022 | |||
| Employee | 9 | 7 | ||
| ‘Noemployees received emoluments in excessof£60,000, | ||||
| 11. | COMPARATIVES FOR THESTATEMENTOFFINANCIALACTIVITIES | |||
| Unrestricted funds |
Restricted funds |
Total funds |
||
| £ | £ | £ | ||
| INCOMEAND ENDOWMENTS FROM | ||||
| Donations and legacies | 58,993 | - | 58,993 | |
| Othertrading activities | 145,297 | - | 145,297 | |
| Investment income | 212 | - | 212 | |
| Total | 204,502 | - | 204,502 | |
| EXPENDITUREON | ||||
| Raising funds | 60,943 | - | 60,943 | |
| Charitable activities | ||||
| Overheads | 128,827 | 9,500 | 138,327 | |
| Total | 189,770 | 9,500 | 199,270 | |
| NETINCOMEKEXPENDITURE) | 14,732 | (9,500) | 5,232 | |
| RECONCILIATION OF FUNDS | ||||
| Totalfundsbroughtforward | 807,020 | 450,042 | 1,257,062 |
continued...
Page 12
The Milford Millenium Hall and
Community Centre
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
| Il. | COMPARATIVES FORTHESTATEMENTOFFINANCIALACTIVITIES Unrestricted funds |
COMPARATIVES FORTHESTATEMENTOFFINANCIALACTIVITIES Unrestricted funds |
- continued Restricted funds |
Total funds |
|---|---|---|---|---|
| £ | £ | £ | ||
| TOTAL FUNDSCARRIEDFORWARD | 821,752 | 440,542 | 1,262,294 | |
| 12, | TANGIBLE FIXEDASSETS | |||
| Freehold | Plantand | |||
| property | machinery | Totals | ||
£ £ £ |
||||
| : COST At 1 September2022 1,216,446 176,317 1,392,763 Additions - 3,883 3,883 q — —— ee |
||||
| At31 August2023 | 1,216,446 | 180,200 | 1,396,646 | |
| DEPRECIATION | ||||
| At 1 September2022 Charge foryear |
179,458 18,086 |
141,536 11,121 |
320,994 29,207 |
|
| At31 August2023 | 197,544 | 152,657 | 350,201 | |
| ! | NETBOOKVALUE At31 August2023 |
1,018,902 | 27,543 | 1,046,445 |
| ; | ||||
| At 31 August 2022 | 1,036,988 | 34,781 | 1,071,769 | |
| 13. | FIXED ASSET INVESTMENTS | |||
| Shares in | ||||
| group | ||||
| undertakings | ||||
| £ | ||||
| MARKETVALUE | ||||
| At 1 September2022 and31 August2023 | 1 | |||
| NET BOOKVALUE | ||||
| At 31 August 2023 | ||||
| : | ||||
| At31 August2022 | 1 | |||
| : | TherewerenoinvestmentassetsoutsidetheUK. |
Page 13
continued...
The Milford Millenium Hall and
Community Centre
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
14. STOCKS
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|2023|2022|
|Stocks|2,433£|2,435£|
|15.|DEBTORS:|AMOUNTS FALLING|DUE WITHIN ONE YEAR|
|2023|2022|
|£|£|
|Trade|debtors|5,499|2,791|
|Amounts owed|by group undertakings|58,897|87,859|
|Other|debtors|778|374|
|Prepayments and accrued|income|1,753|1,263|
|66,927|92,287|
|16.|CREDITORS:|AMOUNTS|FALLING|DUE WITHIN|ONE YEAR|
|2023|2022|
|£|£|
|Trade|creditors|$,015|2,192|
|Social|security|and|other taxes|-|447|
|Other|creditors|2,144|1,958|
|Accrued|expenses|10,010|13,296|
|17,169|17,893|
----- End of picture text -----
17, MOVEMENT IN FUNDS
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Net|Transters|
|movement|between|At|
|At|1.9.22|in|funds|funds|31.8.23|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|813,011|(38,018)|619|775,612|
|Barry|Philips Memorial|Fund|1,577|-|(619)|958|
|Zena Newbold|Legacy|Fund|7,164|-|-|7,164|
|Bar & Cafe Refurbishment|-|15,000|-|15,000|
|Games Table|-|500|-|500|
|Restricted|funds|821,752|(22,518)|-|799,234|
|Building|fund|440,542|(9,500)|-|431,042|
|TOTAL FUNDS|1,262,294|(32,018)|-|1,230,276|
----- End of picture text -----
Page 14
continued...
| Unrestricted funds | General fund 208,366 (246,384) | Bar & Cafe Refurbishment Cafe Refurbishment Refurbishment 15,000 - | Games Table Table 500 - : 223,866 (246,384) | Restricted funds funds
3
i
:
The Milford Millenium Hall and Community Centre
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
17. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Movernent|
|resources|expended|in|f|unds|
|||
|Unrestricted|funds|
|General|fund|208,366|(246,384)|(38,018)|
|Bar|& Cafe Refurbishment Cafe Refurbishment Refurbishment|15,000|-|15,000|
|Games Table Table|500|-|500|
|223,866|(246,384)|(22,518)|
|Restricted funds funds|
|Building|fund|-|(9,500)|(9,500)|
|TOTAL FUNDS|223,866|(255,884)|(32,018)|
|Comparatives|for movement|in|funds|
|Net|
|movement|At|
|At|1.9.21|in|funds|31.8.22|
|£|£|£|
|Unrestricted|fuads|
|General|fund|797,356|15,655|813,011|
|Barry|Philips Memorial|Fund|2,000|(423)|1,577|
|Zena Newbold|Legacy Fund|7,164|-|7,164|
|Piano Fund|500|(500)|-|
|807,020|14,732|821,752|
|Restricted|funds|
|Building|fund|450,042|(9,500)|440,542|
|TOTAL FUNDS|1,257,062|5,232|1,262,294|
----- End of picture text -----
Page 15
continued...
The Milford Millenium Hall and
Community Centre
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|Unrestricted|funds|£|£|£|
|General|fund|204,502|(188,847)|15,655|
|Barry|Philips Memorial|Fund|-|(423)|(423)|
|Piano|Fund|
|-|(500)|(500)|
|Restricted|funds|204,502|(189,770)|14,732|
|Building|fund|-|(9,500)|(9,500)|
|TOTAL FUNDS|204,502|(199,270)|5,232|
----- End of picture text -----
A current year 12 months and prior year 12 months combined position is as follows:
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Net|Transfers|
|movement|between|At|
|At|1.9.21|in|funds|funds|31.8.23|
|Unrestricted|funds|£|£|£|£|
|General|fund|797,356|(22,363)|619|775,612|
|Barry|Philips Memorial|Fund|2,000|(423)|(619)|958|
|Zena Newbold Legacy Fund|7,164|-|-|7,164|
|Piano|Fund|500|(500)|-|-|
|Bar & Cafe Refurbishment|-|15,000|-|15,000|
|Games Table|-|500|-|500|
|Restricted|funds|807,020|(7,786)|-|799,234|
|Building|fund|450,042|(19,000)|-|431,042|
|TOTAL FUNDS|1,257,062|(26,786)|-|1,230,276|
----- End of picture text -----
Page 16
continued...
The Milford Millenium Hall and
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
| | | | | | | | : | | :
Community Centre
17.
MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as
follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund Barry PhilipsMemorialFund Piano Fund Bar&CafeRefurbishment GamesTable |
412,868 - - 15,000 500 |
(435,231) (423) (500) - - |
(22,363) (423) (500) 15,000 500 |
| 428,368 | (436,154) | (7,786) | |
| Restricted funds Buildingfund |
- | (19,000) | (19,000) |
| TOTALFUNDS | 428,368 | (455,154) | (26,786) |
| DesignatedFunds |
Barry Philips Memorial Fund - Designated for a specific purpose by the Trustees within the Youth Group not being general running costs.
Zena Newbold Legacy Fund - Designated for a specific purpose by the Trustees within (he Youth Group not being general running costs.
Piano Fund - Designated for a specific purpose by the Trustees being the purchase of a new piano.
Bar & Café Refurbishment - Designated for a specific purpose by the Trustees for refurbishment of the Bar & Café.
Games Table - Designed for a specific purpose by the Trustees for a Games Table.
Restricted Funds
Building Fund - Part of the building asset is held within a restricted fund in which a proportion of depreciation is charged to the fund annually.
Transfers between funds
A transfer of funds has been completed from the Barry Philips Memorial Fund to the General Fund to recognise expenditure in the prior years not recognised against the designated fund.
2
Page 17
continued...
The Milford Millenium Hall and Community Centre
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
18. RELATED PARTY DISCLOSURES
Included within debtors is an amount of £58,897 (2022: £87,859) owed by Milford Millennium Shop Limited, the trading subsidiary.
During the year Milford Millenium Hall and Community Centre received donated the surplus from the trading subsidiary Milford Millenium Shop Limited of £3,277 (2022: £40,213) under the deed of covenant.
Page 18
7
| : : : |?
! | :
The Milford Millenium Hail and Community Centre
Detailed Statement of Financia} Activities for the Year Ended 31 August 2023
:
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|2023|2022|
|£|£|
|INCOME|AND|ENDOWMENTS|
|Donations|and|legacies|
|Donations|12,290|5,205|
|Gift aid|4,692|3,160|
|Legacies|10,000|-|
|Grants|6,000|10,415|
|Donation|from|trading|sub|3,277|40,213|
|36,259|58,993|
|Other|trading|activities|
|Fundraising events|90,695|69,771|
|Hall and|facilities|hire|47,039|39,490|
|Bar and Cafe|48,697|36,036|
|186,43|1|145,297|
|Investment|income|
|Interest|receivable|- trading|1,176|212|
|Total|incoming|resources|223,866|204,502|
|EXPENDITURE|
|Other|trading|activities|
|Purchases|85,312|60,943|
|Charitable|activities|
|Wages|67,484|55,070|
|Pensions|1,122|1,006|
|Rates|and|water|1,662|145|
|Insurance|8,223|6,781|
|Light|and|heat|9,954|8,843|
|Telephone|477|451|
|Advertising|3,194|2,259|
|Sundries|116|94|
|Computer expenses|4,946|2,831|
|97,178|77,480|
|Support|costs|
|Management|
|Depreciation|of tangible and|heritage|assets|29,207|31,696|
----- End of picture text -----
This page does not form part of the statutory financial statements
Page 19
The Milford Millenium Hall and Community Centre
Detailed Statement of Financial Activities for the Year Ended 31 August 2023
----- Start of picture text -----
||||||
|---|---|---|---|---|
|2023|2022|
|£|£|
|Management|
|Information|technology|
|Repairs and|renewals|17,977|12,839|
|Other|
|Cleaning|7,631|2,963|
|Postage and|stationery|1,834|1,251|
|Sundries|2,839|1,277|
|12,304|5,491|
|Governance|costs|
|Accountancy|fees|13,906|10,821|
|Total|resources|expended|255,884|199,270|
|Net (expenditure)/income|(32,018)|5,232|
----- End of picture text -----
This page does not form part of the statutory financial statements
Page 20