COMPANY REGISTRATION NUMBER: 03921451 CHARITY REGISTRATION NUMBER: 1081181
Letterston Memorial Hall Limited Company Limited by Guarantee Unaudited Financial Statements 31 December 2023
PRITCHARD & CO
Chartered accountants Ffynnonddofn 74 High Street Fishguard Pembrokeshire SA65 9AU
Letterston Memorial Hall Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 14 |
Letterston Memorial Hall Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 December 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2023.
Reference and administrative details
Registered charity name Letterston Memorial Hall Limited Charity registration number 1081181 Company registration number 03921451 Principal office and registered 102 St. Davids Road office Letterston Haverfordwest Pembrokeshire SA62 5SJ
The trustees
Mr M Rees Mr W O G Evans Mr P D C Hart Mrs H F Johnson Mr R Thomas
Independent examiner Ian Williams Chartered Certified Accountant Ffynnonddofn 74 High Street Fishguard Pembrokeshire SA65 9AU
Structure, governance and management
The Letterston Memorial Hall Limited is governed by its Memorandum and Articles of Association as incorporated under the Companies Act 2006 on 3 February 2000. It became a registered charity on 19 June 2000. The Trust is a company limited by guarantee and has no share capital. The liability of each member in the event of a winding up is limited to £10.
Objectives and activities
The provision and maintenance of a Village Hall for the use by the inhabitants of the parish of Letterston in the County of Pembrokeshire and its immediate vicinity without distinction of political, religious, or other opinions including use for :
A) Meetings, lectures and classes.
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Letterston Memorial Hall Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2023
Objectives and activities (continued)
B) Other forms of recreation and leisure time occupation with the object of improving the conditions of life for the inhabitants. The main activities undertaken are the maintenance of the Hall and its provision for the local community to use. The trustees encourage use of the Hall and they organise occasional attractions to both bring the Hall to the attention of the wider community and also to generate funds.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
Bookings are back to levels before the pandemic and we try to accommodate most of them.
Current and past Hall activities are displayed on our active website: www.letterstonmemorial hall.co.uk.
This supplements and reinforces more traditional methods of communicating with residents such as leaflet drops, posters, notice boards, newspaper advertisements and local radio announcements.
Financial review
a) We formally adopted such a policy on March 29 2011.
b) No fund is in deficit.
The trustees' annual report and the strategic report were approved on 20 September 2024 and signed on behalf of the board of trustees by:
Mr W O G Evans Trustee
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Letterston Memorial Hall Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Letterston Memorial Hall Limited
Year ended 31 December 2023
I report to the trustees on my examination of the financial statements of Letterston Memorial Hall Limited ('the charity') for the year ended 31 December 2023.
Responsibilities and basis of report
As the trustees of the company (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 accounts of the company 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 the 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:
-
accounting records were not kept in respect of the charity as required by 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 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 examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
3
Letterston Memorial Hall Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Letterston Memorial Hall
Limited (continued)
Year ended 31 December 2023
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.
Ian Williams
Chartered Certified Accountant Independent Examiner
Ffynnonddofn 74 High Street Fishguard Pembrokeshire SA65 9AU
4
Letterston Memorial Hall Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 December 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 3,290 | 77,483 | 80,773 | – |
| Charitable activities | 6 | 26,227 | – | 26,227 | 24,497 |
| Investment income | 7 | 2,211 | – | 2,211 | 1,811 |
| Other income | 8 | 1,516 | – | 1,516 | 1,527 |
| ---------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | ||
| Total income | 33,244 | 77,483 | 110,727 | 27,835 | |
| ============================ | ============================ | ================================ | ============================ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 9,10 | 20,398 | 168 | 20,566 | 25,489 |
| ---------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | ||
| Total expenditure | 20,398 | 168 | 20,566 | 25,489 | |
| ============================ | ============================ | ================================ | ============================ | ||
| ---------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | ||
| Net income and net movement in | funds | 12,846 | 77,315 | 90,161 | 2,346 |
| ============================ | ============================ | ================================ | ============================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 40,043 | – | 40,043 | 37,697 | |
| ---------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | ||
| Total funds carried forward | 52,889 | 77,315 | 130,204 | 40,043 | |
| ============================ | ============================ | ================================ | ============================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 12 form part of these financial statements.
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Letterston Memorial Hall Limited
Company Limited by Guarantee
Statement of Financial Position
31 December 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 13 | 77,315 | – |
| Current assets | |||
| Debtors | 14 | 3,408 | 1,368 |
| Cash at bank and in hand | 49,481 | 38,675 | |
| ---------------------------- | ---------------------------- | ||
| 52,889 | 40,043 | ||
| ---------------------------- | ---------------------------- | ||
| Net current assets | 52,889 | 40,043 | |
| -------------------------------- | ---------------------------- | ||
| Total assets less current liabilities | 130,204 | 40,043 | |
| ================================ | ============================ | ||
| Funds of the charity | |||
| Restricted funds | 77,315 | – | |
| Unrestricted funds | 52,889 | 40,043 | |
| -------------------------------- | ---------------------------- | ||
| Total charity funds | 15 | 130,204 | 40,043 |
| ================================ | ============================ |
For the year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 20 September 2024, and are signed on behalf of the board by:
Mrs H F Johnson Trustee
The notes on pages 7 to 12 form part of these financial statements.
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Letterston Memorial Hall Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 102 St. Davids Road, Letterston, Haverfordwest, Pembrokeshire, SA62 5SJ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Letterston Memorial Hall Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2023
3. Accounting policies (continued)
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 25% straight line
8
Letterston Memorial Hall Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2023
3. Accounting policies (continued)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Limited by guarantee
The trust is a company limited by guarantee and has no share capital. The liability of each member in the event of a winding up is limited to £10.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Grants | |||
| Grants | 3,290 | 77,483 | 80,773 |
| ======================= | ============================ | ============================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Grants | |||
| Grants | – | – | – |
| ============== | ============== | ============== |
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Letterston Memorial Hall Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2023
6. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Hire of hall and events | 21,551 | 21,551 | 16,928 | 16,928 |
| Bar sales | 4,676 | 4,676 | 7,569 | 7,569 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 26,227 | 26,227 | 24,497 | 24,497 | |
| ============================ | ============================ | ============================ | ============================ |
7. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Wayleave | 31 | 31 | 4 | 4 | |
| Deposit account interest | 112 | 112 | 13 | 13 | |
| Feed in tariff | 2,068 | 2,068 | 1,794 | 1,794 | |
| ----------------------- | ----------------------- | ----------------------- | ----------------------- | ||
| 2,211 | 2,211 | 1,811 | 1,811 | ||
| ======================= | ======================= | ======================= | ======================= | ||
| 8. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Lottery income | 1,516 | 1,516 | 1,527 | 1,527 | |
| ======================= | ======================= | ======================= | ======================= | ||
| 9. | Expenditure on charitable activities | by fund type | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Operation of Letterston Memorial Hall | 20,398 | 168 | 20,566 | ||
| ============================ | ============== | ============================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Operation of Letterston Memorial Hall | 25,489 | – | 25,489 | ||
| ============================ | ============== | ============================ | |||
| 10. | Expenditure on charitable activities | by activity type | |||
| Activities | |||||
| undertaken | Total funds | Total fund | |||
| directly | 2023 | 2022 | |||
| £ | £ | £ | |||
| Operation of Letterston Memorial Hall | 20,566 | 20,566 | 25,489 | ||
| ============================ | ============================ | ============================ |
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Letterston Memorial Hall Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2023
11. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as follows: | The total staff costs and employee benefits for the reporting period are analysed as follows: | The total staff costs and employee benefits for the reporting period are analysed as follows: |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Wages and salaries | 1,500 | 1,500 |
| ======================= | ======================= | |
| The average head count of employees during the year was 1 (2022: 1). The average number of | ||
| full-time equivalent employees during the year is analysed as follows: | ||
| 2023 | 2022 | |
| No. | No. | |
| Hall management | 1 | 1 |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
12. Trustee remuneration and expenses
Helena Johnson has been paid £1,500 as an honorarium in respect of work carried out managing the hall on a day to day basis. No trustee has been reimbursed for any expenses.
13. Tangible fixed assets
| Fixtures and | ||
|---|---|---|
| fittings | ||
| £ | ||
| Cost | ||
| At 1 January 2023 | 50,428 | |
| Additions | 77,315 | |
| -------------------------------- | ||
| At 31 December 2023 | 127,743 | |
| ================================ | ||
| Depreciation | ||
| At 1 January 2023 and 31 December 2023 | 50,428 | |
| ================================ | ||
| Carrying amount | ||
| At 31 December 2023 | 77,315 | |
| ================================ | ||
| At 31 December 2022 | – | |
| ================================ | ||
| Debtors | ||
| 2023 | 2022 | |
| £ | £ | |
| Trade debtors | 3,408 | 1,368 |
| ======================= | ======================= |
14. Debtors
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Letterston Memorial Hall Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2023
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 January | 31 December | ||||
| 2023 | Income | Expenditure | 2023 | ||
| £ | £ | £ | £ | ||
| General funds | 40,043 | 33,244 | (20,398) | 52,889 |
|
| ============================ | ============================ | ============================ | ============================ | ||
| At | At | ||||
| 1 January | 31 December | ||||
| 2022 | Income | Expenditure | 2022 | ||
| £ | £ | £ | £ | ||
| General funds | 37,697 | 27,835 | (25,489) | 40,043 |
|
| ============================ | ============================ | ============================ | ============================ | ||
| Restricted funds | |||||
| At | At | ||||
| 1 January | 31 December | ||||
| 2023 | Income | Expenditure | 2023 | ||
| £ | £ | £ | £ | ||
| Restricted Fund 1 - desc in a/cs | – | 77,483 | (168) | 77,315 |
|
| ============== | ============================ | ============== | ============================ | ||
| At | At | ||||
| 1 January | 31 December | ||||
| 2022 | Income | Expenditure | 2022 | ||
| £ | £ | £ | £ | ||
| Restricted Fund 1 - desc in a/cs | – | – | – | – | |
| ============== | ============== | ============== | ============== | ||
| 16. | Analysis of net assets between funds | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Tangible fixed assets | – | 77,315 | 77,315 | ||
| Current assets | 52,889 | – | 52,889 | ||
| ---------------------------- | ---------------------------- | -------------------------------- | |||
| Net assets | 52,889 | 77,315 | 130,204 | ||
| ============================ | ============================ | ================================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Tangible fixed assets | – | – | – | ||
| Current assets | 40,043 | – | 40,043 | ||
| ---------------------------- | -------------- | ---------------------------- | |||
| Net assets | 40,043 | – | 40,043 | ||
| ============================ | ============== | ============================ |
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Letterston Memorial Hall Limited
Company Limited by Guarantee
Management Information
Year ended 31 December 2023
The following page does not form part of the financial statements.
13
Letterston Memorial Hall Limited
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 December 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Grants | 80,773 | – |
| ---------------------------- | -------------- | |
| Charitable activities | ||
| Hire of hall and events | 21,551 | 16,928 |
| Bar sales | 4,676 | 7,569 |
| ---------------------------- | ---------------------------- | |
| 26,227 | 24,497 | |
| ---------------------------- | ---------------------------- | |
| Investment income | ||
| Wayleave | 31 | 4 |
| Deposit account interest | 112 | 13 |
| Feed in tariff | 2,068 | 1,794 |
| ----------------------- | ----------------------- | |
| 2,211 | 1,811 | |
| ----------------------- | ----------------------- | |
| Other income | ||
| Lottery income | 1,516 | 1,527 |
| ----------------------- | ----------------------- | |
| -------------------------------- | ---------------------------- | |
| Total income | 110,727 | 27,835 |
| ================================ | ============================ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Purchases | 2,811 | 3,604 |
| Wages and salaries | 1,500 | 1,500 |
| Rent | 3,899 | 3,561 |
| Rates and water | 400 | 800 |
| Light and heat | 5,835 | 7,619 |
| Repairs and maintenance | 4,775 | 5,552 |
| Insurance | – | 1,683 |
| Telephone | 571 | 550 |
| Stationery and printing | 363 | 205 |
| Licences | 35 | 35 |
| Performing rights | 200 | 380 |
| Bank Charges | 177 | – |
| -------------------------------- | ---------------------------- | |
| 20,566 | 25,489 | |
| -------------------------------- | ---------------------------- | |
| ---------------------------- | ---------------------------- | |
| Total expenditure | 20,566 | 25,489 |
| ============================ | ============================ | |
| ---------------------------- | ---------------------------- | |
| Net income | 90,161 | 2,346 |
| ============================ | ============================ |
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