REGISTERED COMPANY NUMBER: 0371889S (England and Wales) REGISTERED CHARITY NUMBER: 1075243 Report of the Thi$tee8 and Unaudlted Flnanclal Statements for the Year Ended 31 August 2024 for The Mllford Mlllenlum Hall and Communlty Centre Ward Goodman Audit Services Ltd 4 Cedar Park Femdown Industrial tate Wimborne DoTSel BH217SF
The Mllford Mlllenlum Hvdll and Community Centre Cotttents of the Flnanclal St4tements for th¢ Y¢Ydr Ended 31 August 2024 Page Report of the Trultees Independent Examln¢r'J Report ststement of Finan¢lal AethTltleJ Balan¢¢ Sheet 7 to 8 Notes to the Flninelal Statem¢nts 9 to 18
The Milford Millenlum Hall Ydnd Commvnlty Centre IR¢glstered number= 03718895) Report of the Trnstees for th¢ Year Ended 31 August 2024 The trustees who are also direthrs of the chartty for the purposes of the Companies Act 2006, present their report with the financial st&ternents of the charity for the yw ended 31 August 2024. The trustees bave adopted the provisions of Accounting and Reporting by Charities: Statement of Re¢ommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I January 2019). OBJECTIVES AND ACTIVITIES Objectlve$ and glms The Charity's aims are to provide and manage a Community centre for the benefit of the Parish of Milford-on-sea, Lymington, Hampshir¢ and to encourage and promote the personal and social development of young people in the Parish. As the Trus¢cc5 of the Charity, we operate a purpose-built Community Centre which opened in September 2010, and this report is for our 14th ycar of operation from this Centre. In 2023, the charity adopted the trading name of Th¢ Bridge, for all its a¢tivilies. We achicve our charitsblc aims by: Offering our facilities for hir¢ to local organisations and individuals resuliin¥ in a broad riinge of activi(i¢s including cducational c1&%5¢s' music. art. drama, dan¢e. exercise and fitness sessions. m¢¢ting rooms for local socteties aTJd community support groups. - Running a well-stsffed Youth Club two eveninBS a wcek. The activities offered are designed to encourage communication and conversation as well as tea¢hin¥ younger people skills for life. We arrange activities for children of Primary School age during the annual holidays. We also Seahorsc5 Stay and Play group for prt-schijol children every week which is also very popular. Organtsing a wide range of activities and entcrtainment designed to have broad appeal io all ages and be a focal point for the local Community. - Providing a popular and well-used cafe from Monday to Friday* providing free internct facilities, attd also in the evening a which operates alongside many of the events. - Operating a charity shop in order to raise funds for the Ccntre. Governance &nd Organ18&tlon The Charity's governing body is the Board of Trustees which nonnally meets monthly to discu8s operational and strategic matters. There are a number of SulFCommittees which report to the Board dealing with more detailed matters rel&ted to the ongoing operdtion and d¢velopment of the Ccntre. All Trustees appoinled are lo¢al residents and often were previously p&rt of the broad volunteer b&8e that supports the Charity. We operate two Charity Shops through a trading subsidiary (Milford Millennium Shop Ltd) of which the Community Centre As the sole shareholder. All profits from the subsidiary are distribuÈd annually to the Charity to further our community objectives. Trust¢e5 and Sub-committees take responsibility for management of the day-towday operations of the Charity and the trAding subsidiary; the Charity does not have an appointed Chief Executive or Senior Staff Member. We employ¢d an avera8e of 10 staff ov¢r the financial year, this betng a full-tim¢ 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). Page I
Th¢ Mllford Millenium Hzdll Community Centre (Reglstered numb¢r: 03718895) Report of the Trustees for the Year Ended 31 August 2024 OBJECTIVES AND ACTIVITIES FJvents and A¢tlvltles We host a br()ad range of ev¢nts & activities throughout the year organised by ourselves as well as private individuals, lo¢al bwinesses, and larger organisations. these include activities such as: - Exercise. keep-fit, music. ¢hoiTS, dance and art ¢la&8es, etc. - Regular meetlngs of local organisations and inlerest groups - Private events such as weddings, anntversaries, wakes, children's parti¢5 et¢, making use of the Hall with the stage and big enough for bouncy castles, bands & discos - Private and business use. for meetings, conf¢r¢n¢es, workshops, sales, art exhibttions, ets. - Conferences / public meetings I workshops / discussions on matters such as conservation and loca] development. We also nm a full publi¢ entertainment program of music, dance, in-house & touring theatre, comedy, opera, cinema & screenings. We offer a number of these events with dining provided, wbich coupled with our well-stocked bar generates a significant part of our fundraising income. Trading A¢dvldes We opernte two Charity Shops through our tradin8 subsidiary company Milford Millenium Shop Limited (MMSL). The shop operation each year gifts all of ils profit to MMHCC. Thi$ is an important part of thc fimding of our aclivities, and particularly for inv¢sthKnt in further developtnent of our facility and capabilities. The charity shop has been operating since 201 O from small premiscs in the centre of Milford on Sea. In September 2023 we acquired a second shop in an excellent lo¢ation ¢lose to the original shop and the two together more than doubles our trading area allowing us to off¢r a much wider range of goods and all attractively displayed. This second shop opened in April 2023. We have now completed the first full year of trading from two shops and acbieved our highest ever turnover profit to be gifted to the parent charity MMHCC. Bulldlng$ and Facllltles We bave a high standard of n]aintenance for th¢ building and are prowactive in meeting Health and Safety responsibilities, including a Tollins review of our risk Assessments. We periodically conduct fire risk a8scssments and thll electrical condition 8wYeys of the buildin8 and continue to ensure that all equipment is well maintained and replaced where necessary. We continue to invest in our facilities to keep them in full working order and attractive for hirers and users. Long Term Development Tbe Trustees acquired land adjacent to the Centre in 2016 to enable tUre expansion. This land is cuentlY us¢d 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-tern] to further th¢ aims of the charity. Publle benefit The Charity meets its requir¢ments to deliver Publi¢ Benefit through th¢ bri)ad range of services I1¢d abov¢ that are provid¢d to the local community TTUStees have due regard to clwity conllnission guidan¢e on public benefit. Page 2
The Milford Millenium Hall and Community Centre (Regiqtcred number: 03718895) Repart (>f the Trustees for the Year Ended 31 August 2024 OBJECTJVES AND ACTIVITIES Volunteers We have a highly activc and dedicated team of over 150 volunteers who provide support covering administration, refreshments. gardening. shop, kitchen. technical, and other activities. This enthusiastic support has allowed us lo operate the Caf¢ and Box Office for five days a week and run an extensive prograinme of cv¢nts/a¢tivities. We have also had the Shop open for an average of 24 days a month. FINANCIAL REVIEW FinAncial review 21)23-24 Net Income in 2023-24 is £262.422, compared to Net Income in 2022-23 of £223,866 which is 17 /0 up on the prior year. The nel surplu81{deficit) in 2023-24 was {£29,902), compared to (£32.018), in 2022-23. a decrease of £2,116. Reserves pollcy The Milford Millenium Community Ccnlrc (The Charily) insii&FatLd & RLscrv¢s PoliLy in 2013-14 to develop cash rcscrves against possible risks and longer lenn inveslmcnl rcquirements. This is reviewed annually and is dcsigncd to.. l. Crcale a business inierruption rcscrvc for situations such as Covid-19 which are not covered by insuranee 2. Crcalc funding for fulurc expansion uf thc CLnlre 3. Providc a gcneral contingency fund to prolccl again81 fvture income downturn or budget shortfall in any op¢raling year. Thi5 to include any additional maintenance risks not covered by in8urance. This is reflected in the following reserve allocations.. Reserves Target & AIIoc4tion Non insurance covercd Business Lnlerruption ¢8 Covid 19 Future Expan¥ion (ieneral Conlingyen¢y Total The Reserv¢s Policy is reviewed annually. Target £50,000 £60,000 £40.000 £150,000 The charitable entity has free reserves of £149,504 as at 31 August 2024 (2023- £156,590). The Trustees consider this level of rcscrvcs to be sufficient to d¢livLr Lharitablc objcctives foi. tlie next twelve inonths. Free reserves are calculated by dcducling fixed asscls from th¢ unr¢slricled {and designated) rL'scfvLS hcld at thc ycar-cnd. Going concern The Trusl¢es confirni that, after making appropriate enquirie.8, they have r¢a8onable expectation that the Charity has adequate resour¢e8 10 continue in operational existence for the forcseeable futur¢. For this r¢ason, they ¢ontinu¢ to adopt the going concern basis in preparing these accounts. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its govcming document, a deed of trust, and constitutes a limited company. limited by guarantee, as dLfmLd by the Companies Act 2006. Recruitment and appointment of new trustees Trustees are recruited and appointed when there is a sufficient Theed or room on the Board of Trnslees. Trustees are providcd with the CC3 document trom the Charity Commission or training from existing Trustees or external courses in order lo effectively cary out their duties as Tru8tees. Page 3
The Milford Mlllenlum H411 and Community Centre (Reglstered number: 03718895) Report of the Trustees for the Year Ended 31 August 2024 REFERENCF AND ADMINISTRATIVE DETAILS Registered Comp#ny number 03718895 (England and Wales) Reglstered Charity number 1075243 Reglstered office 4 Cedar Park Femdown Industrial Estate Cobham Road Wiinborne Dor5Ct BH217SF Trustees R Bishop D Elli.8 O H Whiilo¢k Mrs S Whitlock (resigned 7.12.23) M Walker Mrs L M Bagmall MsCRJJones Ms V S Silander P H Warc-Lane Mrs S Fr¢iscr CompAny Secretary O H Whitlock Indepelldent Examlner Ward Goodman Audit Services Ltd 4 Cedar Park Ferndown Industrial Estate Wimborne Dorsct BH217SF Approved by order of Ihe board of trustees on ..... .go.Z*.. and signed on ils behalf by.. O H Whitlock - Trustee Page 4
Independent Examlner'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 Communlty Centre {'the CompAny') I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you arc responsible for the preparation of the a¢counts in accordance with the requirements of the Lompdnies Act 2006 ('Ihe 2006 Act). Having satisfied myself that the accounts of the Company are not required to b¢ audited under Part 16 of the 2006 Act and re eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (Ihe 201 l Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 14515) {b) of thc 2011 Act. Independent examiner's statement Since your charity's gross incoiiie exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examinalion because l am a member of the Institute of Chartered Accoutilanls in England and Wales. which is one of the listed bodies. I have completed my examination. I confirni that no matters have come lo my attention in ¢onn¢ction with the examination giving me cause lo believe.. accounting rccords wcre not kcpl in rcspcct of the Company as required by Section 386 of the 2006 Act. or Ih¢' ¢vUntS do not ac¢ord with tl)osc rc¢ord¥; or the accounts do not con)ply with the uccounlingi rcquirLments of Section 396 of Ihe 2006 Acl other thun any requiremenl that the aLLuunts givl a true and fair view which is not a mdlt¢r eoi)sidered as part ol- an independent ¢xuminiltion' or thL aLeounts have not been prepared in aLLordunLe with the meih(Mls and principles of the Stdtement of Rccommcndcd Practicc for accounting and rcporling by ¢harities (applicable io charitics prcparing their a¢¢ounts in accordance with the Financial Reporting Standard applieablc in the UK and Republic of Ireland (FRS I n2}). I have no concerns and have come across no other matters in conneclitsn with the examination lo which attention should be drawn in this rcporl in urdcr lo cnablc a propcr undlrslunding of the accounts to be reaLhLd. l M Rodd Bsc FCA FCCA Ward Goodman Audit Services Ltd 4 Cedar Park FLmdown Industrial Eslale Wimborne Dorset BH217SF Date.. Page 5
The Milford Millenlum Hall and Community Centre Stalement of Financial Activities (Ineorporating an Income and Expendlture Account) for the Year Endcd 31 August 2024 2024 Tolal funds 2023 Total nds Unreslric*d funds Restricted funds Notes INCOME AND ENDOWMF.NTS FROM Donations and legacies 74,670 74,670 36,259 Other trading activities Inv¢stm¢nl income 183,875 3,877 183,875 3,877 186,431 ,176 Total 262.422 262,422 223,866 EXPELYDITURE OIY Raising fvnds 78,432 78.432 85.312 Charltable aetlvltles Ovcrl)iads 204,392 9.500 213,892 170,572 To¢al 282,824 9,500 292,324 255,884 IYET IIYCOMEI(EXPENDITURE) (20,402} {9.500) (29,902) (32.018) RECONCILIATION OF FUNDS Toial funds brought forward 799,234 431,042 1,230,276 1.262,294 TOTAL FUNDS CARRIED FORWARD 778,832 421,542 1,200.374 ,230,276 The notes fonn part of these financial statements Page 6
The Milford Millenlum Hall and Community Centre (Registered number". 03718895) Balance Sheet 31 August 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted runds Notes FIXED ASSETS Tangible assets Investmentq 12 13 601,538 418,043 1.019,581 1,046.445 601,539 418,043 1,019.582 1,046,446 CURRENT ASSETS Stocks Debtors Inve%tments Cash in hand 14 15 16 3.205 61,201 26,276 97,385 3.205 61,201 26,276 100.884 2,433 66.927 3,499 131,639 188.067 3,499 191,566 200,999 CREDITORS Amounts falling due within on¢ year 17 (10,774) (10.774) (17,169) IYET CURRENT ASSETS 177,293 3,499 1140,792 183.830 TOTAL ASSETS LESS CURRENT LIABILITIES 778,832 421,542 1,200,374 1,230,276 NET ASSETS 778,832 421,542 1,200,374 1,230,276 19 UnrL'striLted funds Rcslriclcd funds 778,832 421,542 799,234 431,042 TOTAL FUNDS 1,200,374 1,230,276 The charitable company is entitled lo exemption from audit Und stiOn 477 of the Companies Act 2006 for the year ended 31 August 2024. The members have not required the Lompany lo obtain an audit of ils financial slalcmcnls for Ihc year ended 31 Augusl 2024 accordance with Section 476 of th¢ Companies Act 2006. The trnstccs 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 und preparingF linancial statements which give a Inle and fair view of the state of affairs of the charitable company as at thc cnd of cach ffftancial year and of its sutylus or dcficit for cach financial ycar in accordance Thith the requirements of Se¢tions 394 and 395 and which othenvise comply with the requirements of th¢ Compani&s Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) The notes forn] part of these financial statements Fage 7 ontinued...
The Milford Mlllenium Hall And Community Centre (Registered number: 03718895) Balanee Sheet- continued 31 August 2024 These financial statements h&vc been prepared in accordance with the provisions applicable to charitsble companies subject to the small companies regime. The financi81 statements were approved by th¢ Board of Trustc¢s and authoris¢d for issue on and were signed on its behalf by.. L M Bagna The notes form part of these financial Ststements Page 8
The Milford Millenium Hall #ttd Community Centre Notes to the FlnAncial Statements for the Year Ended 31 August 2024 LEGAL FORM The Milford Millenium Hall and Comrnunily Centre is a charity registered in the UK and is a company limited by guarantee. regtslered in England and Wales. Further details on page 4. ACCOUNTING POLICIES Basis of preparing the flnancl#l statemeDts The financial statcments ol. the charitable Company, which is a public benefit entity under FRS 102, have been prepared in accordance with thc Charities SORP (FRS 102) 'Accounting and Reportin¥ by Chariti¢s.' Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appliLable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Stdndard applicable in the UK and Republi¢ of Ireland, and the Companies Act 2006. The financial slalemenls have been prepared under the hi8torical cost ¢onvention. with the exception of investments which are included at market valu¢. Income And debtors All incomc is recognis¢d in the Sialcmcnt of Financial Aciivilics once the charity has enlitlemenl to the fiinds. it is probable that the inLom¢ will be received and Ihe amount Cdn b¢ measured rcliably. Grants (including ihose received from ¥overnmenl b(Trdies} are reco&Fnised where there is enliilemenl, certainly of reccipt and thc amount can be m¢asur¢d with %ufficient reliability. Gr¢int in¢om¢ is deferrcd whcn the donor specifiey use of the granl lo bc in ihe future, or where there are conditions for full entitlemenl and Ihose conditions have nol yet beeT) satisfied. DL.btors are rccognised at the settlement amount duc after any tradc discount offered. Prepayments ar¢ valued al thc amouilt pr¢paid net of any tradc discounts due. Expendlture IIAbllltl¢s Liabililies are recognised a8 expendilure a.s .qoon as there is a legal Dr conslructive obligation commitlingT Ihe charity to that expcndifure, it i.s probable that a transfcr of economic bcncfits will be required in settlemcnc and the amount of the oblig7ation ean be measured reliably. F.xpenditure 1.8 a¢ci)unted for on an accruals basis and has been classified under headings that aggr¢gTatc all cost related lo the category. Wher¢ costs cannot bc dirccily attributed to particular headings they have been allocated lo activities on a basis ¢on8i.%ienl with the use of resources. Crcditors and provisions are rccognised where the charity has a present obligation resulting from a past event that will probably result in Ihe tranbfLr of funds to a third party and the amounl due lo setile ihe obligaliun Lan be measured or estimal¢d reliably. Crcdilors and provisions are nornially re¢ognised at their settlement amount after allowing for any trade discounts due. Tangible fixed Assets Depreciation is provided at the following annual rates in ordcr to write off each assel over its estimated useful life. Freehold property Plant and machinery 2 /0 on vost 330/0 on cost, 200/0 on ¢ost and 10 % on cost Stocks Stocks are valued al thc lower of cost and nel r¢alisable value, after making due allowance for obsolete and slow moving items. Taxatlon The charity is exempt from corporation lax on its charitable activities. Page 9 continued...
The Milford Millenium Hall and Community Centre Notes Éo the Fin#ncial Siatements- continued ror the Year Ended 31 August 2024 ACCOUNTING POLICIFS- continued Fund accounting Unrestriclcd funds can b¢ uscd in accordan¢c with the charitable objectives at ihc discretion of the truslccs. Reslri¢t¢d funds can only be used for particular reslricled purposes within the objects of the Gharity- Restrictions aris¢ when specified by the donor or when ndS are raised for particular r¢8tricted purposcs. Furth¢r explanation of the ft8re and purpose of each fund is in¢luded in the notes ¢0 the financial statcments. Pension costs And other post-retfirement benefits The Lh¢irilable company operates a defined contribution pension scheme. Contributions payable to the charitable ompany's pension scheme are charged to the Statement of Financial Activities in the period lo which they relate. Cash 4t bank And In hand Cash al bank and cash in hand iiicludes cash and sliori tcrni highly liquid investments with a short ma¢urily of three months or less from the date of acquisition or op¢ning of Ihc deposit or siniilar account. Investment$ Current a$8et inveslments are made up of Iiqliid investments held with a maturity dale longer than 3 months but less th 12 months from the opcning vf th¢ aLLounl. DONATIONS AND LEGACIES 2024 2023 Donations Giftuid Lcgdcies Grants Donation from trading sub 3,669 4,7() 5 20,000 5,000 41,240 12,290 4,692 10,000 6,000 3,277 74,670 36,259 Grants received, included in the above, are as follows.. 2024 2023 NFDC - Comrnunity Warn] Space Grant Milford on Sea Pari8h Council Grant 1,000 5,000 5,000 5,000 6,000 Pag¢ 10 continued...
The Mllford Millenium Hall and Community Centre Notes to the FinancÈal Statements - continued for the Year Ended 31 August 2024 OTHER TRADING ACTIVITIES 2024 2023 Fundraising events Hall and facilities hire Bar and Cafc 82,449 46.726 54,700 90,695 47.039 48,697 183,875 186,431 INVESTMENT INCOME 2024 2023 Interest receivable- trading 3,877 1,176 RAISING FUNDS Other trading activities 2024 2023 Purchases 78,432 85.312 CHARITABLE ACTIVITIES COSTS Direct Costs Support costs Totals Overheads 112,557 101,335 213,892 IYET INCOME/(EXPENDITURE) Net income/(eXpendire) is ststed after chargingl(crediting)= 2024 2023 Depreciation- owned asgets 29,636 29.207 The Endcpendent Examiners, remuneration was £2,992 (2023:£2.892). Pagell ¢ontinued..
The Milford Millenlum Hxll and Community Centre Noles to the FinanciAI Statements - continued for the Year Ended 31 August 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no Irust¢es' remuneration or other beT)efits for the year ended 31 August 2024 nor fur the year ended 31 August 2023. Trustees, expenses There were no trustees, expenscs paid for the year endcd 31 August 2024 nor for the year ended 31 August 2023. STAFF COSTS 2024 2023 Wag¢s and salaries Other pension costs 77,274 1,399 67,484 1,122 78,673 68,606 The average monthly number of employees during the year was as follows: 2024 io 2023 Employee No employees received emoluments in excess of £60,000. ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unr¢slrictcd funds Restricled funds Total funds INCOMF. AND ENDOWMENTS FROM Donations and legacies 36.259 36,259 Other trading activities Investmcnt income 186,431 1,176 186.431 1.176 Total 223,866 223.866 EXPENDITURE ON Raising fi2nds 85,312 85,312 Charitable activities Overheads 161.072 9.500 170,572 Totsl 246,.384 9,500 255,884 NET INCOMEI(EXPENDITURE) (22,518) (9,500} (32,018) RECONCJLIATION OF FUNDS Total funds brought furward 821,752 440,542 1,262,294 Page 12 ¢ontinued...
The Mllford Millenium Hall and Community Centre Notes to the FinantlAI Statements - continued ror the Year Ended 31 August 2024 ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Rcstricted funds Total funds TOTAL FUNDS CARRIED FORWARD 799,234 431.042 1,230,276 12. TANGIBLE FIXED ASSETS Freehold property Plant and machinery Totals COST At I Scplember 2023 Addilions 1.216.446 180,200 2,772 1,396,646 2,772 At 31 August 2024 1,216,446 182.972 .399,418 DEPRECIATION Ai I September 2023 Charge for year 197.544 18,086 152,657 11,550 350,201 29,636 At 31 August 2024 215,630 164.207 379,837 NET BOOK VALUE At 31 August 2024 1,000,816 18,765 1,019,581 Ai 31 August 2023 1,018,902 27,543 1,046,445 13. FIXED ASSET INVESTMENTS Sharcs in group undertakings MARKET VALUE Ai I Seplembcr 2023 and 31 August 2024 NFT BOOK VALUE At 31 August 2024 At 31 August 2023 There wLrc no investment assets outside the UK. Page 13 continued...
The Milford Millenium H#ll and Community Centre Notes to the Financial StatemenÉs- continued for the Year Ended 31 August 2024 14. STOCKS 2024 2023 Stocks 3.205 2,433 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Amounts owed by group undertakings Other debtors Pr¢payments and arcrued income 6.318 51,284 1,468 2,131 5.499 58,897 778 1,753 61,201 66,927 16. CURRENT ASSET INVESTMENTS 2024 2023 Unlisted investments 26,276 17. CREDITORS: AMOULYfs FALLING DUE WITHIN ONE YEAR 2024 2023 Tradc creditors Social security and other laxcs Other creditors ArGrucd expens¢s 2,629 167 932 7,046 5,015 2,144 10,010 10,774 17,169 18. LEASING AGREEMENTS Minimum lease paymenls under non-cancellable operating leas¢s fall due as follows,. 2024 2023 Within one year Betwcen one and fivc years 11,400 24,349 10,800 33,300 35,749 44,100 Page 14 continued..
The Mllford Millenium Hall and Community Centre Notes to the Financial Statements- continued for the Year Ended 31 August 2024 19. MOVEMENT IN FUNDS N¢t movement in funds At 31.8.24 At 1.9.23 Unre$trlcted fund5 General fund Barry Philips Mcmorial Fund Zena Newbold LegaLy Fund Bar & Caf¢ Rcfurbishmenl Games T¢ible John Simmons Legacy Fund 775.612 958 7,164 15,000 500 (24.569) (333) 751.043 625 7,164 (15.000) {500} 20,000 20,000 799,234 (20,402) 778,832 Restrlcted fund$ Buildin¥ fund 431,042 (9,500) 421,542 TOTAL FUNDS 1.230,276 (29,902) 1,200,374 Net movcmcnt in funds, included in the ¢ibove are as follows: Incoming resources Resources expended Movement in fvnds Unrestrlcled funds General fund Barry Philips Memorial Fund Bar & Lafe Refurbishment Games Table John Simmons Legacy Fund 240,999 (265,568) (333) (16,423) (500) (24,569) {333) (15,000) (500) 20,000 1,423 20,nOO 262,422 (282,824) (20,402) Restrlcted fund8 Building fund (9,500) (9,500) TOTAL FUNDS 262,422 (292,324) (29,902) Page 15 continued..
The Milford Mlllenlum Hall gnd Community Centre Not¢s to the Flnxncial Statements- continued for the Year Ended 31 August 2024 19. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.8.23 At 1.9.22 Unrestrlcted funds General lld Barry Philips Memorial Fund Zena Newbold LegaLy Fund Bar & Cafe Refurbishment Games Table 813,011 1,577 7,164 (38,018) 619 (619) 775,612 958 7,164 15,000 500 15,000 500 821,752 (22,518) 799,234 Restrlcted funds Building fund 440,542 (9,500) 431,042 TOTAL FUNDS 1,262,294 (32,018) 1,230,276 Comparative net movemcnt in fundy, included in the dbuv¢ are as follows.. Incoming resources Resources expcndcd Movement in ndS Unrestrlcted funds General fund Bar & Cafc R¢fMrbishm¢nt Games Table 2051,366 15,000 500 (246,384) {38,018) 15,000 500 223,866 (246,384) (22,518) Restrlcted funds Building fund (9,500) (9,500) TOTAL FUNDS 223,866 (255,884) (32.018) Page 16 continued...
The Milford Millenium Hall and CoTnmunity Centre Notes lo the FinAnLial Statements - continued for the Year Ended 31 August 2024 19. MOVEMENT IN FUINDS- continued A current year 12 months und prior year 12 months combined position is as fullows.. Net movement in fi]nds Transfers betwcen fiinds At 31.8.24 At 1.9.22 Unrestrlcted funds General fund Barry Philips Memorial Fund Zena Newbold L¢gFa¢y Fund John Simmons Legacy Fund 813.011 1.577 7,164 (62.587) (333) 619 {619) 751,043 625 7,164 20,000 20.000 821,752 (42,920) 778,832 Restric¢ed funds Building, fund 440.542 (19,000) 421,542 TOTAL FUNDS 1.262.294 {61.920) 1,200,374 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Invoming resour¢es Re8ourLes expcndcd MovLmcnt in funds Unrestrlcted fi]nd$ (Jeneral lund Bary Philips Memorial Fund Bar & Cafe Refurbishment Games Table John Simmons Legacy Fund 449,365 (511,952) (333) (16,423) (500) {62,587) (333) 16,423 500 20,000 20,000 486,288 (529.208) (42,920) R¢strl¢ted funds Building fund (19,000) (19,000) TOTAL FUNDS 486,288 (548,208) (61,920) Designated Funds 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 the Youth Group not being general running cosLs. Bar & Café Refvrbishment- Designated for a specific PUTpose by the Trustee5 for refurbishment of the Bar & Café. Page 17 continued...
The Milford Mlllenium Hall and Community Centre Notes to the Financlal Stalements- continued for the Year Ended 31 August 2024 19. MOVEMENT IN FVNt)S- continued Games Table - Designed for VI specifiL purpose by the Trustees for a Games Table. John Simmon8 Legacy Fund - Designated for a specific purpose by the Trustees for the audio visual project, volunteer party and a plaque. Re$trlcted Funds Building Fund - Parl of the building asset is held within a restriclcd fund in which a proportion of depreciation is charged to the fund annually. 20. RELATED PARTY DISCLOSURES Included within debtors is an amount of £5 I,284 (2023: £58,897) 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 Limitcd of £41,240 {2023.. £3,277) under the deed ofGov¢nanl. Page 18