2022-09-14-accounts

CHARITY REGISTRATION NUMBER: 1092685

ORTON MARKET HALL

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 14 SEPTEMBER 2022

David Allen Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY

ORTON MARKET HALL

CONTENTS

Trustees' report	1 to 4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8 to 14

ORTON MARKET HALL

TRUSTEES' REPORT

The trustees present the annual report together with the financial statements of the charity for the year ended 14 September 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity Registration Number	1092685
Principal Office	Orton Market Hall
	Curlew Corner
	Orton
	Penrith
	CA10 3RF
Independent Examiner	Mrs A Welton FCA
	David Allen
	Dalmar House
	Barras Lane Estate
	Dalston
	Carlisle
	CA5 7NY

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees	Ms J Powdrill
	Mrs H Wearmouth (resigned 12 January 2023)
	Mrs C F Frank (resigned 7 February 2022)
	Mr M Renwick-Smith (resigned 10 August
	2022)
	Mrs F G Lawler (resigned 12 January 2023)
	Mrs S Seed (resigned 7 February 2022)
	Ms K E A Nunn
	Ms S L Jones (appointed 10 August 2022)
	Ms M Taylor (appointed 12 January 2023)
	Ms W D Rogerson (appointed 12 January 2023)
	Ms P Huitson (appointed 12 January 2023)

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ORTON MARKET HALL

TRUSTEES' REPORT (CONTINUED)

OBJECTIVES AND ACTIVITIES

To provide public hall space to all the inhabitants of the civil parish of Orton and the neighbourhood thereof, and to do so without discrimination on grounds of sex, sexual orientation, race, politics, religion or any other opinions/beliefs.

Orton Market Hall brings together the said inhabitants, the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and other leisure time occupation with the object of improving the condition of life for the said inhabitants.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

ACHIEVEMENTS AND PERFORMANCE

2022 has been a very productive year for Orton Market Hall, trustees have put a lot of work into applying for a lottery grant to upgrade the hall and we were delighted to receive £40,000.

Work began on the main hall with insulation, and decoration, new blinds replaced the old curtains and LED lights were fitted which has made the hall look a whole lot brighter.

A new cleaning cupboard was made by a local joiner to keep all cleaning products together and safe.

Work began on the kitchen by Border Foods, the old kitchen has been completely replaced by a commercial kitchen, a lot easier to keep clean and full of all mod cons such as a warming cupboard and super quick dishwasher.

A totally new heating system has been fitted which can be controlled via an app, which gives us more control as to when the heaters are on and what temperature is needed to hopefully help with the increasing rise in electricity costs.

Plans are in place to make a new entrance into the supper room to avoid using the kitchen as a walk through.

The hall continues to be used regularly with yoga, pilates, doctors surgery, bingo, and the Highlights rural touring scheme.

It has been a privilege to be a part of the team that keeps Orton Market Hall a pleasant communal hub for the village and hope the trustees keep up the great work providing this for the village.

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ORTON MARKET HALL

TRUSTEES' REPORT (CONTINUED)

We also are planning to bring the kitchen bang up to date with much better catering facilities. We hope that by doing this we will be in a much better position to compete with other local village halls.

I sincerely hope that by working together with the community, that over the next year we will be able to breath new life into the hall and into its suitability as a viable venue for many more functions in the future.

FINANCIAL REVIEW

During the year the income has risen from £22,737 (2021) to £36,971 (2022). Expenditure has also risen from £8,176 (2021) to £49,985 (2022). This has resulted in a deficit of £13,014 (Surplus £14,561 in 2021).

The charity has total unrestricted funds of £44,900 (2021: £57,914) carried forward at the year end.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Orton Market Hall was constituted by the deed dated 24 April 2002 as amended on 7 January 2019 as amended on 12 January 2023. The trust is an unincorporated charity.

The charity is registered with the Charity Commission under number 1092685 and was registered on 28 June 2002. The principal office of the charity is Curlew Corner, Orton, Penrith, CA10 3RF.

The trustees give their time freely and no trustee remuneration was paid in the year.

FINANCIAL INSTRUMENTS

The charity’s activities expose it to a number of financial risks including credit risk and cash flow risk.

The charity’s activities expose it primarily to the financial risks of changes in interest rates.

The charity’s principal financial assets are bank balances and cash, trade and other receivables. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

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ORTON MARKET HALL

TRUSTEES' REPORT (CONTINUED)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The annual report was approved by the trustees of the charity on 27 February 2023 and signed on its behalf by:

......................................... Ms S L Jones Chair and Trustee

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ORTON MARKET HALL

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ORTON MARKET HALL

I report to the trustees on my examination of the accounts of Orton Market Hall for the year ended 14 September 2022.

Responsibilities and basis of report

As the charity trustees of Orton Market Hall you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Orton Market Hall's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of Orton Market Hall as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

...................................... Mrs A Welton FCA Independent Examiner David Allen Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY

27 February 2023

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ORTON MARKET HALL

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 14 SEPTEMBER 2022

						Total		Total
		Unrestricted		Restricted		2022		2021
	Note	£		£		£		£
Income from:
Donations and legacies	2	200		-		200		-
Charitable activities	3	9,339		27,411		36,750		22,706
Investment income	4	21		-		21		31
Total income		9,560		27,411		36,971		22,737
Expenditure on:
Charitable activities	5	(22,574)		(27,411)		(49,985)		(8,176)
Total expenditure		(22,574)		(27,411)		(49,985)		(8,176)
Net movement in funds		(13,014)		-		(13,014)		14,561
Reconciliation of funds
Total funds brought forward		57,914		-		57,914		43,353
Total funds carried forward	11	44,900		-		44,900		57,914
								Total
						Unrestricted		2021
				Note		£		£
Income from:
Charitable activities				3		22,706		22,706
Investment income				4		31		31
Total income						22,737		22,737
Expenditure on:
Charitable activities				5		(8,176)		(8,176)
Total expenditure						(8,176)		(8,176)
Net movement in funds						14,561		14,561
Reconciliation of funds
Total funds brought forward						43,353		43,353
Total funds carried forward				11		57,914		57,914

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 and 2021 is shown in note 11.

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ORTON MARKET HALL

BALANCE SHEET AS AT 14 SEPTEMBER 2022

		2022	2022	2022		2021	2021	2021
	Note	£				£
Current assets
Cash at bank and in hand				44,900				57,914
Funds of the charity:
Unrestricted income
funds
Unrestricted funds		44,900				57,914
Total funds	11			44,900				57,914

The financial statements on pages 6 to 14 were approved by the trustees, and authorised for issue on 27 February 2023 and signed on their behalf by:

......................................... Ms S L Jones Chair and Trustee

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ORTON MARKET HALL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 14 SEPTEMBER 2022

1 ACCOUNTING POLICIES

Statement of compliance

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Orton Market Hall meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grant have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included in the balance sheet as deferred income to be released. Grants receivable from government and other agencies have been included as income from activities in furtherance of the charity's objects where these amount to a contract for services but as donations where money is given with a greater freedom of use.

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ORTON MARKET HALL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 14 SEPTEMBER 2022 (CONTINUED)

1 ACCOUNTING POLICIES (continued)

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including independent examiners fees, strategic management and trustees meetings and reimbursed expenses.

Taxation

The Charity is exempt from taxation.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

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ORTON MARKET HALL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 14 SEPTEMBER 2022 (CONTINUED)

1 ACCOUNTING POLICIES (continued)

Financial instruments

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities are classified according to the substance of the contractual arrangements entered into.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

2 INCOME FROM DONATIONS AND LEGACIES

	Unrestricted
	funds		Total
	General		2022
	£		£
Donations and legacies;
Donations from individuals	200		200
	200		200

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ORTON MARKET HALL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 14 SEPTEMBER 2022

(CONTINUED)

3 INCOME FROM CHARITABLE ACTIVITIES

					Total		Total
	Unrestricted		Restricted
	funds		funds		2022		2021
	£		£		£		£
Farmer's market income	200		-		200		600
Rural arts	454		-		454		16
Surgery rent	1,960		-		1,960		1,960
Vine life	972		-		972		1,248
Room rents and functions	5,719		-		5,719		1,047
The National Lottery
Community Fund	-		27,411		27,411		-
Electric meters	34		-		34		166
Grants	-		-		-		17,669
	9,339		27,411		36,750		22,706

4 INVESTMENT INCOME

	Unrestricted		Total			Total
	General		2022			2021
	£		£			£
Interest receivable and similar income;
Interest receivable on bank deposits	21			21			31

5 EXPENDITURE ON CHARITABLE ACTIVITIES

					Restricted		Total		Total
			Unrestricted
			funds		funds		2022		2021
		Note	£		£		£		£
Activities			22,334		27,411		49,745		7,756
Governance	costs	6	240		-		240		420
			22,574		27,411		49,985		8,176

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ORTON MARKET HALL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 14 SEPTEMBER 2022 (CONTINUED)

6 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS

Governance costs

	Unrestricted
	funds		Total		Total
	General		2022		2021
	£		£		£
Independent examiner fees
Examination of the financial statements	240		240		420
	240		240		420

7 TRUSTEES REMUNERATION AND EXPENSES

During the year the charity reimbursed expenditure of £161 for repairs (2021: £124) to 1 (2021: 3) trustees.

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any other benefits from the charity during the year.

8 STAFF COSTS

The average number of persons employed (including trustees) during the year was 0 (2021 - 0).

No employee received emoluments of more than £60,000 during the year

The total employee benefits of the key management personnel of the charity were Nil (2021 - Nil).

9 INDEPENDENT EXAMINER'S REMUNERATION

					2022	2021
					£	£
Examination	of	the	financial	statements	240	420

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ORTON MARKET HALL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 14 SEPTEMBER 2022 (CONTINUED)

10TAXATION

The charity is a registered charity and is therefore exempt from taxation.

11FUNDS

11FUNDS
	Balance at						**Balance **	at
	15						14
	September		Incoming		Resources		September
	2021		resources		expended		2022
	£		£		£		£
Unrestricted funds
General	57,914		9,560		(22,574)		44,900
Restricted funds	-		27,411		(27,411)			-
Total funds	57,914		36,971		(49,985)		44,900
	Balance at						**Balance **	at
	15						14
	September		Incoming		Resources		September
	2020		resources		expended		2021
	£		£		£		£
Unrestricted funds
General	43,353		22,737		(8,176)		57,914

Within restricted funds is funding received from grants from National Lottery and Border Kitchens for replacing the kitchen in the Market Hall, the grants were fully expensed in the year.

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ORTON MARKET HALL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 14 SEPTEMBER 2022 (CONTINUED)

12ANALYSIS OF NET ASSETS BETWEEN FUNDS

				Total funds
		Unrestricted		at 14
		funds		September
		General		2022
		£		£
Current	assets	44,900		44,900
				Total funds
		Unrestricted		at 14
		funds		September
		General		2021
		£		£
Current	assets	57,914		57,914

13RELATED PARTY TRANSACTIONS

There were no related party transactions in the year.

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