2021-03-31-accounts

Charity Registration No. 1082500

LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

M Light E Horridge J Lapsley R Taylor Rev. M Harwood J Stewart P Broad (Appointed 20 October 2020) John Castle (Appointed 20 July 2021)

Charity number 1082500 Principal address Letcombe Regis Village Hall Bassett Road Letcombe Regis Wantage Oxfordshire OX12 9LJ

Independent examiner Chapman Worth Limited 3 The Old Estate Yard High Street East Hendred Wantage Oxfordshire OX12 8JY

LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST

CONTENTS

	Page
Trustees' report	1 - 2
Independent examiner's report	3
Statement of financial activities	4
Statement of financial position	5
Notes to the financial statements	6 - 12

LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their annual report and financial statements for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "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

The charity's objects are to p rovid e and operat e, for the community, a Village Hall, and an open recreation field with a fenced children's play area, a fenced area for horse riding, two tennis courts and football and cricket pitches with a Sports Pavilion .

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The charity has carried out its duty with regard to the public benefit and the objectives of the charity.

Achievements and performance

During 2020-21 The Recreation Ground and Village Hall Trust held 9 meetings. Due to the unprecedented situation with the pandemic, the Hall was closed from Monday 23rd March 2020 until it was allowed to reopen in a limited way from July 4th 2020. Many of our regular hirers chose not to resume because of concerns about Covid, and there were many cancellations and postponements of events. The Hall had to close again from November 5th 2020 until December 4th 2020, and close again from December 26th 2020 until April 2021.

I would like to express my thanks to all the Trustees who spent much time reviewing documents and guidance relating to Covid, and helping to draft all the signs, notices and procedures which we were required to put in place. This was not a trivial task as I am sure many of you can appreciate.

We were fortunate enough to be able to claim various Government Grants which had been made available to businesses which were either forced to close, or had restricted opening. This helped to offset the loss of income.

In April and May 2020, the Hall was redecorated, and although many of the events planned for 2020 did not take place, the Hall continues to receive excellent feedback by users and visitors.

I would like to thank Claire for the continued excellent job she does as Hall Coordinator. This is an important role, which ensures the smooth day-to-day running of the Hall.

The hard work of the volunteers from the various Sports Clubs who use the Recreation Ground is also appreciated. They ensure that the Recreation Ground as a whole, as well as their own "patch" are kept neat and tidy for all to enjoy. Also, a note of thanks to James Stewart, who with the "loan" of a tractor and hedge cutter from a local farmer, cut all the hedges around the Recreation Ground in February 2021.

The AGM originally planned for May 2020 was postponed until October 2020, and was held via an online meeting, as were all the Trust meetings from April 2020 through until March 2021.

After many years of service as a Trustee, Eddie Jenkins has stood down. Karen Johnson has also stood down after serving as Vice-Chair. I would like to thank both of them for their valuable input into the running of the Trust, and wish them well for the future. We have had 2 new Trustees join, John Castle and Alison McClintock, so we are at our full complement of 9 Trustees.

Overall, I believe that the Trust is well placed both financially and from a management perspective to ensure the smooth running of the Village Hall and Recreation Ground Trust.

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LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Flnancial revigw It is the policy of the chanty that unrestricted funds whth have not been des￿nated for a speufic use shoukl be maintained at 8 lèvel equlva￿nt to at least tsvelve months expenditure. The tnjstees consider& that reserves at this level will ensure tha( in the event of a sNJnffic8nl drop in ftjnding, they will be abte lo continue the ehanty's Cufrent activtties while Cons￿eration is gsven to ways in which addrtional fvnds may be raised. Reserves as at the 31 March 2021 totalled £72.18012020 £46,712). ReseThes are in excess of the policy at the MoM￿t whilst the charty vs expeTienung a reduction in income due to the pandem￿. This is to ensure fvnds 8fe availab￿ when required. The trustses have ￿fts1dered the impacts of the ongoing COVID-19 pandemic and are confhjent the charity has adequate reserves availab￿ to ensure the charty continue in operational existgnc8 for the f￿eeable The trust￿ have also assessed other major nsks lo which the Charty is expo￿, and are satsr￿d that systems are In place to mits.gate exposure to the major risks. Slrucluvo. govem#no and management The charity rs an unincorporated charty registergj with the Charities Commission Numter 1082500. The Injstees who served dunng the year and up to the date of signature of the financial statements were.. M Loht E HorrKlge J Lapsley R Taylor Rev. M Harwood J Slewart P Broad John Castle IApF¥)inted 20 0¢tr)ber 20201 IApFointed 20 Juty 20211 Trustees are r￿(urted by a prcoss of advertising, or recommendation, and have an infomwl discussionl interview prror to sutNnrtb"ng an applK*i)n, whth must be proposed and se￿)nded ty tsvo other villagers. The trustees, tEport was approved by the Board of Trustses. R Taylor Trustee Date..

LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST I report to the trLJStÈÈs on my examination of the financial statgmtrnts of Lelcomb& Rogis Recreation Giound & Villag6 Hall Trust (the ¢hartyl for the year ended 31 March 2021. Rèsponsibilities and basis of report As the trustees of the charity you are responsible for the prep8ralon of the financial stalemenls in acco¥dance with the requiiements of the Charities Act 2011 (the 2011 Act). I report in r8spect of my examination of the charity's financial stslemenls carried out undèr section 145 of the 2011 Act. In carrying out my exatninabon I have follow8d all the applicabl8 Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent &xaminerfs statement Your attention is drawn to the lact that the charity has prepared financi818tatemenls in accordance with AccoLJnting and Reporting by Charities preparing their accounts in accordance with thfy Financial Reporb'ng Standard applicable in the UK and Republic of Ireland {FRS 1021 in prèference lo the A¢¢ounling and Reporting by Charities.. Slalement of Recommended Practice i53ued on 1 April 2005 which is referred lo in the extsnl regulations bul has now been withdrawn. l understand that this has been done in order for financial slaternenis to provide a true and lair view in accordance with Generally Accepted Accounting Practice effectlve for reporting periods beginning on or after 1 January 2015. I havè cornpleted my examination. I confimi that no matters have cO￿e to my attention in connection with the examination giving me cause to beli&ve that in any material respect.. accounting records warè not kept in resp&¢t of the charity as reqUI￿d by seth'on 130 of thè 2011 Act.. or the financial stslements do not accord with those re¢ords', or the finanual statements do not comply with the applicable requ1￿mentS Concerning the fomi and content of accounts sel out in tha Charities IAccounts and Reportsl Regulations 2008 other than any requirement that the accounts give a true and fair view which Is not 8 matt8r considered as part of an Independenl ex8minaliDn. I have no concerns and have Come across no other rnatters in connecllon with the examlnalion lo which attention should be drawn in this report in order lo enabla a proper understanding of the financial statements to b& raached. man Chapman Worth Limited 3 The Old Esi8te Yard High Street East Hendrgd Wantage Oxfordshire OX12 8JY Dated:

LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted Unrestricted funds funds general d esignated 2021 2021 Notes £ £ Income from: Donations and legacies 3 21,695 8,136 Charitable activities 4 6,381 - Other trading activities 5 - - Investments 6 140 4 Total income 28,216 8,140 Expenditure on: Charitable activities 7 10,888 - Net income for the year/ Net movement in funds 17,328 8,140 Fund balances at 1 April 2020 36,861 9,851 Fund balances at 31 March 2021 54,189 17,991	Total Unrestricted Unrestricted funds funds general d esignated 2021 2020 2020 £ £ £ 29,831 1,962 3,000 6,381 28,094 - - 356 - 144 113 13 36,356 30,525 3,013 10,888 24,616 - 25,468 5,909 3,013 46,712 30,952 6,838 72,180 36,861 9,851	Total 2020 £ 4,962 28,094 356 126 33,538 24,616 8,922 37,790 46,712

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST STATEMENT OF FINANCIAL POSITION ASAT31 MARCH2021 2021 2020 Current *ssets Debto Cash at bank and in hand 12 459 73,326 1,333 55,329 73,785 56,662 Credhors: amounts falllng dug wtthln one year 13 11,60SI 19,9501 Net current assets 72,180 46,712 Incom• funds Unreslricted fvnds- d￿gna￿l unrestn.cted funds- general 14 17.991 54.189 9.851 36,861 72,180 46,712 The finanoal statements were approved by the Trustees on . .. R Taylor

LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

Letcombe Regis Recreation Ground & Village Hall Trust is a unincorporated charity registered with the Charities Commission for England and Wales.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have have assessed the financial position of the charity and the impacts of Covid-19 . The charity has adequate cash reserves available in the event that hall hire is impacted further by any COVID-19 restrictions in 2022. The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Charitable activities include expenditure associated with meeting the charitable objectives.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities.

Governance cost include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted funds funds general d esignated 2021 2021 £ £ Donations and gifts 1,788 8,136 Government grants 19,907 - 21,695 8,136	TotalUnrestricted Unrestricted funds funds general d esignated 2021 2020 2020 £ £ £ 9,924 1,962 3,000 19,907 - - 29,831 1,962 3,000	Total 2020 £ 4,962 - 4,962

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LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

4 Charitable activities

	Hire of Hall &	Car Parking	Total	Hire of Hall &	Hire of	Letting of	Car Parking	Total
	Equipment		2021	Equipment	Pavilion	Sports Areas		2020
	2021	2021		2020	2020	2020	2020
	£	£	£	£	£	£	£	£
Services provided	4,041	2,340	6,381	20,861	170	2,363	4,700	28,094

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LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

5 Other trading activities

Fundraising events Investments Unrestricted Unrestricted funds funds general d esignated 2021 2021 £ £ Interest receivable 140 4 Charitable activities Charitable expenditure Share of support costs (see note 8) Share of governance costs (see note 8)	TotalUnrestricted funds general 2021 2020 £ £ - 356 TotalUnrestricted Unrestricted Total funds funds general d esignated 2021 2020 2020 2020 £ £ £ £ 144 113 13 126 2021 2020 £ £ 8,701 22,405 1,287 1,311 900 900 10,888 24,616

6 Investments

7 Charitable activities

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LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

8 Support costs

Support costs Governance costs £ £ Advertising & marketing 225 - Accounting package & support 376 - Office supplies, telephone & internet 506 - Sundry 180 - Audit fees - 900 1,287 900 Analysed between Charitable activities 1,287 900	2021 Support costs Governance costs £ £ £ 225 193 - 376 556 - 506 512 - 180 50 - 900 - 900 2,187 1,311 900 2,187 1,311 900	2020 £ 193 556 512 50 900 2,211 2,211

Governance costs includes payments to the accountants of £ 900 ( 2020 - £900 ) for the independent examination .

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

There were no employees during the year.

11 Tangible fixed assets

Sports Pavilion

The charity owns the Sports Pavilion property which is carried in the accounts at nil cost. Major renovations were carried out on the property eight years ago at no cost to the charity using grants from Sports England and Richmond Village. The trustees' deem the value of this property for insurance purposes of £432,600 is appropriate to the market value.

12 Debtors

Amounts falling due within one year: Trade debtors Prepayments and accrued income	2021 £ 230 229 459	2020 £ 727 606 1,333

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LETCOMBE REGIS RECREATION GROUND & VILLAGE HALL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

13 Creditors: amounts falling due within one year

Trade creditors Other creditors Accruals and deferred income	2021 £ 521 - 1,084 1,605	2020 £ 937 150 8,863 9,950

14 Unrestricted funds - designated

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

				Movement		Movement
				in funds		in funds
			Balance at	Incoming	Balance at	Incoming	Balance at
			1 April 2019	resources	1 April 2020	resources	31 March 2021
			£	£	£	£	£
	Playground Project Fund		6,838	3,013	9,851	8,140	17,991
15	Analysis of net assets between funds
		Unrestricted	Designated	Total	Unrestricted	Designated	Total
		funds	funds		funds	funds
		2021	2021	2021	2020	2020	2020
		£	£	£	£	£	£
	Fund balances at 31
	March 2021 are
	represented by:
	Current assets/
	(liabilities)	54,189	17,991	72,180	36,861	9,851	46,712
		54,189	17,991	72,180	36,861	9,851	46,712

16 Related party transactions

There were no disclosable related party transactions during the year (2020 - none) .

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