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2021-11-30-accounts

Charity registration number 1090563

Company registration number 4329946 (England and Wales)

GRASMERE VILLAGE HALL COMPANY LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

PAGES FOR FILING WITH REGISTRAR

GRASMERE VILLAGE HALL COMPANY LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs VJ C Rees Mr JR Cowton Mr P Mosey Mr A Leech Mr S Dodd Mr G Magennis Mr D Johnson Mr A Astle (Appointed 4 November 2021) Mr S Watts (Appointed 4 November 2021) Ms P Moreland (Appointed 4 November 2021) Mrs K Taylor (Appointed 4 November 2021) Charity number 1090563 Company number 4329946 Independent examiner Gibbons Lakeland Office 2 Europe Way Cockermouth Cumbria CA13 0RJ

GRASMERE VILLAGE HALL COMPANY LIMITED

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 11

GRASMERE VILLAGE HALL COMPANY LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2021

The trustees present their annual report and financial statements for the year ended 30 November 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 Companies Act 2006 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 main object of the company is the provision and maintenance of the village hall for the use of inhabitants of the parish of Grasmere and the neighbourhood.

Achievements and performance

The Trustees were pleased to make the hall available to the local pharmacy to run a valuable vaccination centre for much of 2021. This brought many people to the hall, in many cases for the first time or after a long period of absence. It was a much appreciated service.

In the second half of the year booking enquiries increased in number, and the hall saw use by local groups, some on a regular basis e.g. Badminton.

The Trustees are grateful to individuals and other bodies, such as SLDC, for the financial support during the months of the pandemic when the hall could not be used for public events.

Financial review

Details of restricted and unrestricted reserves are shown in the financial statements. In particular, note 13 shows details of the movements on restricted funds.

Structure, governance and management

Grasmere Village Hall Company Limited is a company limited by guarantee, each member's contribution not exceeding £10 on dissolution. It was incorporated on 27 November 2001 and it was registered as a charity with effect from 13 February 2002. Trustees are appointed to serve for three years and may be re-appointed at the end of a term of service. The trustees meet quarterly or more frequently as required.

The trustees who served during the year and up to the date of signature of the financial statements were:

Mrs VJ C Rees Mr JR Cowton Mr P Mosey Mr A Leech Mr S Dodd Mr G Magennis Mr D Johnson Mr A Astle (Appointed 4 November 2021) Mr S Watts (Appointed 4 November 2021) Ms P Moreland (Appointed 4 November 2021) Mrs K Taylor (Appointed 4 November 2021)

The trustees' report was approved by the board of trustees.

GRASMERE VILLAGE HALL COMPANY LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Mr P Mosey Trustee

25 August 2022

GRASMERE VILLAGE HALL COMPANY LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF GRASMERE VILLAGE HALL COMPANY LIMITED

I report to the trustees on my examination of the financial statements of Grasmere Village Hall Company Limited (the charity) for the year ended 30 November 2021.

Responsibilities and basis of report

As the trustees of the charity (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 financial statements of the charity 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable 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 that in any material respect:

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 financial statements to be reached.

Mr Mark Stanger BFP FCA

Gibbons Lakeland Office 2 Europe Way Cockermouth Cumbria CA13 0RJ

Dated: 25 August 2022

GRASMERE VILLAGE HALL COMPANY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income and endowments from:
Donations and legacies
3
500
5,000
Charitable activities
4
8,539
-
Investments
5
-
-
Other income
6
17,669
-
Total income
26,708
5,000
Expenditure on:
Charitable activities
7
8,015
-
Net income/(expenditure)
for the year/
Net movement in funds
18,693
5,000
Fund balances at 1 December
2020
738,474
21,821
Fund balances at 30
November 2021
757,167
26,821		 Total Unrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
5,500
705
-
8,539
1,156
-
-
2
-
17,669
10,000
-
31,708
11,863
-
8,015
14,181
-
23,693
(2,318)
-
760,295
740,792
21,821
783,988
738,474
21,821		 Total
2020
£
705
1,156
2
10,000
11,863
14,181
(2,318)
762,613
760,295

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

GRASMERE VILLAGE HALL COMPANY LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2021

Notes
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
13
Unrestricted funds		 2021
£
3,352
69,902
73,254
(1,200)		 £
711,934
72,054
783,988
26,821
757,167
783,988		 2020
£
4,728
44,751
49,479
(1,200)		 £
712,016
48,279
760,295
21,821
738,474
760,295

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2021.

Trustees' 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 trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with FRS102 SORP.

The financial statements were approved by the Trustees on 25 August 2022

Mr JR Cowton Trustee

Mr P Mosey Trustee

Company registration number 4329946

GRASMERE VILLAGE HALL COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

1 Accounting policies

Charity information

Grasmere Village Hall Company Limited is a private company limited by guarantee incorporated in England and Wales . Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

1.1 Accounting convention

The financial statements have been prepared in accordance with the the Companies Act 2006, 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 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 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.

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.

GRASMERE VILLAGE HALL COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

1 Accounting policies

(Continued)

1.5 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.

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.

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.

GRASMERE VILLAGE HALL COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2021
2021
£
£
Donations and gifts
500
-
Grant receivable
-
5,000
500
5,000		 TotalUnrestricted
funds
2021
2020
£
£
500
705
5,000
-
5,500
705

4 Charitable activities

Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Income from car park 2,250
-
Letting of hall 6,195
1,156
Income from storage 94
-
8,539
1,156
5 Investments
Total Unrestricted
funds
2021
2020
£
£
Interest receivable -
2
6 Other income
Unrestricted Unrestricted
funds
funds
2021
2020
£
£
Government grants 17,669
10,000

GRASMERE VILLAGE HALL COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

7 Charitable activities

Unrestricted
Unrestricted
Unrestricted
funds funds
2021 2020
£ £
Depreciation and impairment 82 109
Water rates 96 158
Light heat and power 2,293 3,279
Insurance 3,195 3,141
Repairs and maintenance 276 3,804
Cleaning services and materials 260 -
Accountancy fees 907 864
Telephone 239 228
Sundry expenses 210 14
Bad and doubtful debts (191) 2,584
Website development 648 -
8,015 14,181
8,015 14,181

8 Trustees

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

9 Employees

2021 2020
Number Number
Total - -

GRASMERE VILLAGE HALL COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

10
Tangible fixed assets
Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 December 2020
711,690
9,224
At 30 November 2021
711,690
9,224
Depreciation and impairment
At 1 December 2020
-
8,898
Depreciation charged in the year
-
82
At 30 November 2021
-
8,980
Carrying amount
At 30 November 2021
711,690
244
At 30 November 2020
711,690
326
11
Debtors
2021
Amounts falling due within one year:
£
Trade debtors
340
Prepayments and accrued income
3,012
3,352
12
Creditors: amounts falling due within one year
2021
£
Accruals and deferred income
1,200		 Total
£
720,914
720,914
8,898
82
8,980
711,934
712,016
2020
£
135
4,593
4,728
2020
£
1,200

GRASMERE VILLAGE HALL COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

13 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement Movement
in funds in funds
Balance at Incoming
Balance at		 Incoming Balance at
1 December resources
1 December		 resources 30 November
2019 2020 2021
£
£
£
£		 £
Refurbishments & improvements fund 1,784
-
1,784
-		 1,784
Heat the hall fund 17,279
-
17,279
-		 17,279
Toilet refurbishment fund 2,758
-
2,758
5,000		 7,758
21,821
-
21,821
5,000		 26,821
14 Analysis of net assets between funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
Fund balances at 30
November 2021 are
represented by:
Tangible assets 711,934 - 711,934 712,016 - 712,016
Current assets/
(liabilities) 45,233 26,821 72,054 26,458 21,821 48,279
757,167 26,821 783,988 738,474 21,821 760,295

15 Related party transactions

There were no disclosable related party transactions during the year (2020 - £633 ) .