COMPANY REGISTRATION NUMBER: 04672490 CHARITY REGISTRATION NUMBER: 1099705
Debenham Village Hall and Playing Field Trust Company Limited by Guarantee Unaudited Financial Statements
28 February 2021
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Financial Statements
Year ended 28 February 2021
| Page | |
|---|---|
| Trustees’ annual report (incorporating the director’s report) | 1 |
| Independent examiner’s report to the Trustees | 7 |
| Consolidated Statement of financial activities | 8 |
| Consolidated and Charity Balance sheets | 9 |
| Notes to the financial statements | 11 |
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Trustees Annual Report (Incorporating the Trustee's Report)
Year ended 28 February 2021
The Trustees, who are also the directors for the purposes of company law, presents their report and the unaudited financial statements of the Charity for the year ended 28 February 2021.
Reference and administrative details
Registered charity name
Debenham Village Hall and Playing Field Trust
The Debenham Village Hall and Playing Field Trust is also referred to locally as Debenham Sports & Leisure (DS&L), either term may be used to express the company within the financial statements.
Charity registration number
1099705
Company registration number 04672490
Principal office and registered Debenham Leisure Centre Gracechurch Street Debenham Stowmarket Suffolk IP14 6BL
The Trustees
The Trustees who served during the year and at the date of approval were as follows:
Mr Stephen Spurling (Chairman) Mr George Durie Mr Martin Durie Mr Phil Jaynes Mr Douglas McMyn Mr Paul Roofe Mr Phillip Jones General Manager Mrs Jodie Burrows Facilities manager Mrs Sue Thurlow
Independent Examiner
Mrs R Marsh FMAAT, Marsh Accountancy, 67 Gardeners Road, Debenham, Stowmarket, Suffolk IP14 6RX
Bankers
National Westminster Bank plc, 2 The Sandlings, Ransomes Europark, Ipswich, Suffolk IP3 9SL
1
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Trustee's Annual Report (Incorporating the Trustee's Report) (continued)
Year ended 28 February 2021
Structure, Governance and Management Governing Document
The organisation is a charitable company limited by guarantee and was incorporated on 20 February 2003. It is governed by a memorandum and articles of association. The company was established, following a review of legal structure, to take over the activities of the unincorporated charity, Debenham Village Hall Playing Field Trust (registered charity number 304742) established under a scheme approved by the Charity Commissioners under seal dated 4 July 1988. The charity owns and runs the Debenham Leisure and Community Centre for the benefit of the inhabitants of the Parish of Debenham, Suffolk and neighbourhood.
Appointment, induction and training of trustees
The overall governance and financial responsibility is vested in the trustees, as set out on page1. The trustees are also directors of the charity for the purposes of Company law. In accordance with the memorandum and articles of association, the trustees retiring by rotation at the 2021 Annual General Meeting are Doug McMyn and Paul Roofe who, being eligible, offer themselves for re-election.
The majority of the current trustees have all been involved with the organisation for a number of years and are familiar with the practical work of the charity. New trustees are invited to a meeting with the Chairman, at which details of the charity and the context within which it operates are provided, including:
-
The obligations of the trustees.
-
The operational framework of the charity including the Memorandum and Articles of Association.
-
Resourcing and the current financial position including the latest published and management accounts.
-
• Future plans and objectives.
Risk Management
The Committee continually review the major risks which the charity faces to ensure that the systems established to manage such risks are adequate. This process includes a review of reserve levels and of the charity’s key financial systems.
Organisational Structure
The trustee board comprises of a minimum of 3 members who meet quarterly and are responsible for the strategic direction and policy of the charity. At present the board has 7 (May 2021) members from a variety of business backgrounds relevant to the work of the charity. The trustees delegate the responsibility for the day-to-day operational management of the Centre to the General and Facilities Managers, including the provision of specified services and facilities and supervision of the staff team. We also have 2 members of the Parish Council attending our Trustee meetings. This provides the Trust with the opportunity to share our business with the Parish Council in an open and transparent way.
Related Party
The charity has a wholly owned trading subsidiary, Debenham Community Centre Limited, which operates the bars and associated facilities for the benefit of the Trust.
Objectives and activities
The charity’s objective is the provision and maintenance of a village hall, recreation ground and other recreational facilities for the use of the inhabitants of the Parish of Debenham and its neighbourhood without distinction of political, religious or other opinions, including use for meetings, lectures and classes, and for other forms of recreation and leisure time occupation, with the object of improving the conditions of life for the said inhabitants.
2
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Trustee's Annual Report (Incorporating the Trustee's Report) (continued)
Year ended 28 February 2021
Operational and Financial Overview
Debenham Sports & Leisure (DS&L) like many Businesses had a limited opportunity to carry out operational activity over most of the reporting period 1[st] March 2020 – 28[th] February 2021. This was due to Government restrictions related to the Covid-19 Pandemic.
Closing our Centre on March 23[rd] , 2020, and offering little in the way of activities, reduced our income substantially. That said there were income streams that did continue. These were Debenham High School and when allowed the Indian Takeaway. Below you will see some pie charts setting out our main income streams along with our main expenditure. Clearly the graphs show a disappointing trading year. The disappointing results, all Covid related, were buoyed by Covid Support grants, Furlough payments and a Bounce Back loan. Taking account of our trading figures and support payments, including the loan we are posting an excess for the year of £89,304.
Our main objective for this financial year was to remain viable, retain and support our staff and where funding was available undertake essential maintenance work and committed projects.
The Trustees and our Business Manager have been key in identifying and securing the funding support available from the start of the pandemic. Engaging with Local Government, National Lottery and other Organisations has enabled us to stay viable into the future. Over the period MSDC provided £113,881 in grants including £60,000 for our Fitness Centre refurbishment.
We thank the following for their support throughout the year and look forward to working with them into the new financial year.: -
| Covid related support | |
|---|---|
| The Government Furlough Scheme. | £65,395 |
| Covid Support Grants | |
| Government/ MSDC | £29,371 |
| Power to Change | £15,000 |
| Other Financial Support | |
| Greene King | £15,000 |
| Mid Suffolk District Council | £25,000 |
| Fitness Centre Refurbishment | £59,510 (MSDC S106 Grant) |
----- Start of picture text -----
Grant Support 20/21
15,000
65,395
113,881
15,000
10,000
MSDC Parish Council Power to Change HMRC Greene King
----- End of picture text -----
3
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Trustee's Annual Report (Incorporating the Trustee's Report) (continued)
Year ended 28 February 2021
We were also pleased to top up our Staffs’ wages by an additional 20% throughout all Furlough periods. This has proved very positive as all staff have been retained and will return to full working when allowed to do so.
----- Start of picture text -----
Major Income 2020/21
Major Expenditure 20/21
£6,372 £0 401 10463 1134
12,847
£19,254
£31,748
16,622
£25,000
£26,299 141508
Community Centre Hire MSDC Grant Debenham High School
Deben Lounge Bar So Fitness Studio Community Centre Bar Wages Bar Purchases @ Pellets Fundraising Electricity Vending Purchases
----- End of picture text -----
Table 1
| Table 1 | |||
|---|---|---|---|
| Income | Totals 19/20 | **Totals 20/21 ** | % -/+ |
| CommunityCentre | 38,040 £ |
£19,254 | -49% |
| MSDC Grant | 25,000 £ |
£25,000 | 0% |
| Debenham High School | 26,299 £ |
£26,299 | 0% |
| Deben Lounge bar | 90,805 £ |
£31,748 | -65% |
| Fitness Studio | 29,815 £ |
£6,372 | -79% |
| CommunityCentre bar | 32,911 £ |
£0 | -100% |
Table 1 shows big reductions in income during the reporting period, with 100% loss related to the Community Centre bar. These losses are reflected across the Trust income and whilst a reduction in expenditure has mitigated some of the losses, see Table 2, the best the Trust would have achieved for the reporting period would be a very small profit.
Table 2
Table 2 provides an overview of some of the reduction in expenditure over the reporting period.
| Expenditure | **Totals 19/20 ** | **Totals 20/21 ** | % -/+ |
|---|---|---|---|
| Wages | 165882 | 141508 | -14.69% |
| Bar Purchases | 54347 | 16622 | -69.42% |
| Pellets | 12688 | 12847 | 1.25% |
| Fundraising | 14992 | 401 | -97.33% |
| Electricity | 13672 | 10463 | -23.47% |
| VendingPurchases | 6465 | 1134 | -82.46% |
4
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Trustee's Annual Report (Incorporating the Trustee's Report) (continued)
Year ended 28 February 2021
Insurance Claim
As I write this report, we are still in discussions with our insurer, nearly a year later, to agree a level of pay out related to the Pandemic. We were fortunate to include Business Interruption Insurance as part of our policy. There has been a long court case that ruled against insurers who are now looking to loss adjusters to work with our Business on losses that occurred due to closure periods.
Projects
Our committed projects included the refurbishment of the Fitness Suite and to continue our fundraising for major work on the Community Centre. The Fitness Suite funding was provided by Mid Suffolk District Council using Section 106 funds. This totalled £60,000.
One of our Trustees continued bidding for funds throughout the year and by early 2021 we were pleased to hear that we had been awarded £176,000 from the Community Business Fund and £74,000 from Viridor Credits. The funding bids extend beyond February 2021 but have been very fruitful. These include the Parish Council, District and County Councillors and Mid Suffolk District Council. We expect the project to refurbish our Community Centre will proceed in July 2021. The refurbishment includes, a new roof, upgrading of heating, new windows, complete replacement of outside boarding and insulation. The new boarding will be of a cement-based product lasting many years into the future.
In January 2021 we were able to work with Suffolk GP Federation to set up a Vaccine Centre in the Community Centre which has generated welcome income. This project is due to complete in June vaccinating up to 30,000 people with both doses of vaccine.
Our new car park proceeded to a temporary one to provide parking for Debenham High School (DHS) staff, freeing up our main car parks to accommodate a Vaccine Centre from January 2021. This project will complete in June/July 21 making the car park permanent. Once complete it will continue to provide car parking for DHS staff, keeping the area to the front available for our valued customers.
Projects carried over
Refurbishment of Shower and changing facilities Upgrade of the Fire and Intruder Alarms
I would like to take this opportunity to thank my fellow Trustees for their support over the reporting period and in particular our Finance Manager and Maintenance employee, both of whom have worked throughout the Pandemic to ensure the security and financial obligations we have to meet and maintain.
5
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Trustee's Annual Report (Incorporating the Trustee's Report) (continued)
Year ended 28 February 2021
Independent examiner appointment
A resolution to appoint Mrs R Marsh of Marsh Accountancy as independent examiner will be proposed at the next meeting.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The Trustee's annual report was approved on .............................. and signed on behalf of the board of trustees by:
Mr S Spurling (Chairman) Trustee
6
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Independent Examiner's Report to the Members of Debenham Village Hall and Playing Field Trust (continued)
Year ended 28 February 2021
I report to the Charity Trustees on my examination of the financial statements of the company for the year ended 28 February 2021 which comprise the statement of financial activities (including income and expenditure account), balance sheet and the related notes.
Responsibilities and basis of report
As the Charity's 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 financial statements 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 your company's financial statements 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
Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Accounting Technicians. I have completed my examination and 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:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts 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
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the accounts 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).
I have no concerns nor have I come across any 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 R Marsh FMAAT Independent Examiner
Marsh Accountancy 67 Gardeners Road Debenham Suffolk IP14 6RX
7
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Consolidated Statement of Financial Activities (including income and expenditure account)
Year ended 28 February 2021
| Note £ £ Income Grants 5 25,000 92,130 Income from charitable activities Community Centre income 68,656 - Sports and Leisure Centre income 62,385 - Trading activities Bar and associated income 6 - - Fundraising events and activities 837 - Other income Renewable heating incentive 18,891 - Miscellaneous income 1,838 - COVID-19 Grants 109,767 - Investment income – bank interest 30 - Total Income 287,403 92,130 Expenditure Expenditure on raising funds 66,258 - Fundraising expenses 7 26 - Centre operating and activity costs 95,431 128,514 161,715 128,514 Net income/(expenditure) and net movement in funds 125,688 (36,384) Reconciliation of funds 151,868 338,437 Fund balances at 1 March 2020 Fund balances at 28 February 2021 277,556 302,054 Bar operating costs Unrestricted funds Restricted funds Total expenditure 2021 Expenditure on charitable activities |
Total funds £ 117,130 68,656 62,385 - 837 18,891 1,838 109,767 30 379,532 66,258 26 223,944 290,229 89,304 490,305 579,610 |
2020 Total funds £ 34,110 55,568 146,886 135,011 31,749 19,339 1,584 74 |
|---|---|---|
| 424,321 | ||
| 132,938 15,853 267,384 |
||
| 416,175 | ||
| 8,146 | ||
| 482,159 | ||
| 490,305 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. An analysis by fund of the comparative figures for 2020 is shown in note 4.
The notes on pages 10 to 18 form part of these financial statements.
8
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Consolidated and Charity Balance Sheets (continued)
Year ended 28 February 2021
| Note Fixed assets Tangible assets 11 Investments 12 Current assets Stock 13 Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets / (liabilities) Creditors: amounts falling due after more than one year 16 Unrestricted 17 Restricted Total Funds Funds Net assets |
2021 2020 £ £ 503,739 458,696 - - 503,739 458,696 3,504 5,163 34,673 7,240 127,435 65,981 165,611 78,385 43,074 44,138 122,537 34,247 46,667 2,637 579,610 490,305 277,556 151,868 302,054 338,437 579,610 490,305 Group |
2021 2020 £ £ 488,725 443,971 100 100 488,825 444,071 - - 109,377 66,940 126,604 64,168 235,981 131,108 39,502 35,480 196,479 95,628 46,667 2,637 638,638 537,062 336,585 198,625 302,053 338,437 638,638 537,062 Charity |
2021 2020 £ £ 488,725 443,971 100 100 488,825 444,071 - - 109,377 66,940 126,604 64,168 235,981 131,108 39,502 35,480 196,479 95,628 46,667 2,637 638,638 537,062 336,585 198,625 302,053 338,437 638,638 537,062 Charity |
|
|---|---|---|---|---|
| 444,071 - 66,940 64,168 |
||||
| 131,108 35,480 |
||||
| 95,628 | ||||
| 2,637 537,062 |
||||
| 198,625 338,437 537,062 |
The Trustees’ statements required by Section 475(2) and (3) are shown on the following page which forms part of this balance sheet.
The notes on pages 10 to 18 form part of these financial statements.
9
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Consolidated and Charity Balance Sheets (continued)
28 February 2021
For the year ending 28 February 2021 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.
The financial statements were approved by the board of trustees and authorised for issue on ______, and are signed on behalf of the board by:
Mr S Spurling (Chairman) Trustee
Company registration number: 04672490
The notes on pages 11 to Error! Bookmark not defined. form part of these financial statements.
10
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 28 February 2021
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 Debenham Leisure Centre, Gracechurch Street, Debenham, Stowmarket, Suffolk, IP14 6BL.
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.
Group financial statements
These financial statements consolidate the results of the Charity and its subsidiary, Debenham Community Centre Limited, on a line by line basis. A separate statement of financial activities is not presented because the Charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.
Going concern
The accounts have been prepared on the going concern basis and the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected income and expenditure for the next 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Trust to be able to continue as a going concern.
Income
Income is recognised in the period in which the Charity is entitled to receipt, any performance conditions have been met and the amount can be measured reliably and with sufficient certainty. Income is only deferred when the Charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Expenditure
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 the delivery of its activities and services. All costs, including governance costs, are allocated between the expenditure categories of the Statement of Financial Activities on a basis to reflect the use of resources.
11
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 28 February 2021
Tangible fixed assets
The cost of tangible fixed assets is their purchase cost, together with any incidental expenses of acquisition. Freehold land is not depreciated. The cost of other tangible fixed assets is written off by equal annual instalments over their expected useful economic lives as follows:
Freehold buildings 10 – 50 years Fixtures, fittings and equipment 5 – 10 years
Fixed asset investment
The investment in the subsidiary company is shown at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making allowance for any obsolete or slow-moving items.
Fund accounting
Unrestricted funds are available to spend on activities that further the purposes of Charity. Designated funds are unrestricted funds of the Charity which the Trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds represent income which the donor or grantor has specified are to be solely use for particular purposes within the objects of the Charity. Restrictions apply when specified by the donor or when funds are raised for particular restricted purposes.
Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Limited by guarantee
The Charity is a company limited by guarantee. None of the Trustees have a beneficial interest in the company. All the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
12
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 28 February 2021
4. Consolidated statement of Financial Activities for year ended 28 February 2021
| 2021 £ Income Grants 25,000 Income from charitable activities Community Centre income 68,656 Sports and Leisure Centre income 62,385 Trading activities Bar and associated income - Fundraising events and activities 837 Other income Renewable heating incentive 18,891 Miscellaneous income 1,838 COVID-19 Grants 109,767 Investment income 30 Total income 287,403 Expenditure Expenditure on raising funds 66,258 Fundraising expenses 26 Centre operating and activity costs 95,431 161,715 Net income and net movement in funds 125,688 Reconciliation of funds Fund balances at 1 March 2020 151,868 Fund balances at 28 February 2021 277,556 Expenditure on charitable activities Bar operating costs Unrestricted funds Total expenditure |
2021 £ 92,130 - - - - - - - - - 92,130 - - 128,514 128,514 (36,384) 338,437 302,054 Restricted funds |
Total Funds 2021 £ 117,130 68,656 62,385 - 837 18,891 1,838 109,767 30 |
|---|---|---|
| 379,532 | ||
| 66,258 26 223,944 |
||
| 290,229 | ||
| 89,304 | ||
| 490,305 | ||
| 579,610 |
13
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 28 February 2021
5. Grants receivable
| 2021 2021 £ £ Revenue grants Mid Suffolk District Council 25,000 82,130 UMI GP Referrals Debenham Parish Council 10,000 Government COVID-19 grants 25,000 92,130 6. Subsidiary company results Sales Government COVID-19 grants Other income Cost of sales Gross profit Operating costs Operating profit Depreciation Loan interest Net profit / (loss) (109,767) Unrestricted funds Restricted funds |
Total Funds 2021 £ 107,130 - - 10,000 (109,767) 7,363 2021 £ 48,132 10,927 413 (66,258) (6,787) (1,027) (7,814) (4,455) (4) (12,272) |
Total Funds 2020 £ 25,200 2,400 6,510 - - |
|---|---|---|
| 34,110 | ||
| 2020 £ 135,011 - (54,334) |
||
| 80,677 | ||
| (78,516) | ||
| 2,161 (3,593) (88) |
||
| (1,520) |
Operating costs of comprise the direct costs of operating the bars and a share of the Centre’s overheads
| The assets and liabilities of the subsidiary were: Fixed assets Current assets Creditors: amounts falling due within one year Net current assets Creditors: amounts falling due after more than Net liabilities Capital and reserves |
2021 £ 14,914 3,504 (79,978) (61,561) - (61,561) 59,028 |
2020 £ 14,725 7,820 (69,201) |
|---|---|---|
| (46,655) | ||
| (46,655) | ||
| (46,655) |
14
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 28 February 2021
7. Charitable activities
| Centre operating and activity costs Staff costs Activity costs Depreciation Interest and bank charges Independent examiner’s fees 8. Independent examination fees Fees payable to the independent examiner for: 9. Staff costs The cost of employing staff was: Wages and salaries National insurance Pension contributions The costs above include restricted fund expenditure comprising depreciation of £36,541. Independent examination for the financial statements Maintenance, utilities and other overhead costs |
2021 £ 123,348 37,701 3,909 50,200 3,168 1,008 219,334 2021 £ 1,008 2021 £ 140,946 7,596 2,206 150,748 |
2020 £ 129,064 63,254 24,253 43,321 5,790 1,703 |
|---|---|---|
| 267,384 | ||
| 2020 £ 1,703 2020 £ 166,499 4,947 2,627 |
||
| 174,072 |
The average head count of employees during the year was 19 (2020: 22).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
10. Trustee remuneration and expenses
The Trustees did not receive any remuneration or reimbursed expenses from the Trust or its trading subsidiary during this or the preceding year.
15
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 28 February 2021
| 11. Tangible fixed assets Group Cost At 1 March 2020 Additions Disposals At 28 February 2021 Depreciation At 1 March 2020 Charge for the year Disposals At 28 February 2021 Net book value At 28 February 2021 At 28 February 2020 Charity Cost At 1 March 2020 Additions Disposals At 28 February 2021 Depreciation At 1 March 2020 Charge for the year Disposals At 28 February 2021 Net book value At 28 February 2021 At 28 February 2020 |
£ 916,675 37,173 - 953,848 512,888 32,636 - 545,524 408,325 403,788 £ 916,675 34,458 - 951,133 512,888 32,093 - 544,981 406,153 403,788 Land and buildings Land and buildings |
£ 214,272 62,525 (20,236) 256,561 159,363 22,019 (10,118) 171,265 85,296 54,908 £ 90,232 364,335 (20,236) 434,330 2,176,117 18,107 (10,118) 2,184,106 (1,749,776) (2,085,885) Furniture, fittings & equipment Furniture, fittings & equipment |
£ 1,130,947 99,698 (20,236) Total |
|---|---|---|---|
| 1,210,409 | |||
| 672,251 54,655 (10,118) |
|||
| 716,788 | |||
| 493,621 | |||
| 458,696 | |||
| £ 1,006,907 398,793 (20,236) Total |
|||
| 1,385,464 | |||
| 2,689,005 50,200 (10,118) |
|||
| 2,729,087 | |||
| (1,343,624) | |||
| (1,682,098) |
16
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 28 February 2021
12. Fixed assets - Investments
| 12. Fixed assets - Investments | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Investment in subsidiary | ||
| Shares at cost | 100 | 100 |
At 28 February 2021 the Charity owned all of the ordinary share capital, consisting of 100 shares, of Debenham Community Centre Limited, which operates the bars at the community and leisure centre. The trading results are set out in the notes.
13. Stocks
| Stock for resale 14. Debtors Amount due from subsidiary Trade debtors Other debtors Prepayments |
Group 2021 £ - Group 2021 £ - 11,991 22,620 63 34,673 |
Group 2020 £ 5,163 Group 2020 £ - 6,397 - 843 7,240 |
Charity 2021 £ - Charity 2021 £ 77,300 2,534 - 63 79,896 |
Charity 2020 £ - Charity 2020 £ 60,543 6,397 - - |
|---|---|---|---|---|
| 66,940 |
15. Creditors: amounts falling due within one year
| Bank loans and overdrafts (secured) Bank loans and overdrafts (unsecured) Trade creditors Supplier loan (secured) Other taxes and social security costs Other creditors Accruals and deferred income |
Group 2021 £ - 33,643 30,066 - 2,359 10,469 (5,558) 70,979 |
Group 2020 £ 15,321 - 8,828 857 4,399 11,768 2,965 44,138 |
Charity 2021 £ 2,405 3,333 26,682 - 2,831 10,469 (6,218) 39,502 |
Charity 2020 £ 15,321 - 4,354 - 1,753 11,768 2,285 |
|---|---|---|---|---|
| 35,480 |
Deferred income relates to fundraising income received in advance of £nil (2020: £nil).
17
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 28 February 2021
16. Creditors: amounts falling due after more than one year
| Bank loans (secured) Bank loans (unsecured) |
Group 2021 £ - 49,072 49,072 |
Group 2020 £ 2,637 - 2,637 |
Charity 2021 £ - (49,072) (49,072) |
Charity 2020 £ 2,637 - |
|---|---|---|---|---|
| 2,637 |
The bank loan is secured under charges on the Charity’s freehold property and other fixed assets.
17. Analysis of charitable funds
| 17. Analysis of charitable funds | |||||
|---|---|---|---|---|---|
| Unrestricted funds: General funds Designated property sinking fund Designated for maintenance Restricted funds: Capital projects Restricted for GP Referrals 18. Analysis of net assets by fund Unrestricted funds: General funds Designated property sinking fund Designated for maintenance Restricted funds: Capital projects Restricted for GP Referrals |
£ 89,595 52,039 10,234 333,812 4,626 490,306 At 1 March 2020 |
£ 287,403 - - 92,130 - Fixed assets £ 119,346 384,393 - 503,739 379,532 Income |
£ (161,715) - - (127,863) (651) £ 133,003 61,639 10,234 (85,547) 3,208 122,537 Net current assets/ (liabilities) (290,229) Expend- iture |
£ (9,600) 9,600 - - - £ (46,667) - - (46,667) Long-term Liabilities - Transfer |
£ 205,683 61,639 10,234 298,079 3,975 At 28 February 2021 |
| 579,610 | |||||
| Total funds £ 205,683 61,639 10,234 298,846 3,208 |
|||||
| 579,610 |
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Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 28 February 2021
Unrestricted funds represent those funds which the management committee are free to use in accordance with the charitable objects. The Charity continues to transfer a sum of £800 per month to a designated property sinking fund to meet repair and refurbishment costs. The Board has designated the net income from certain fundraising events for the purposes of the Maintenance Project Fund.
The restricted funds represent the major capital projects undertaken including refurbishment of the Centre, the resurfacing of the car parking facility, the football stadium development, the solar panels, new lighting for the Centre and Sports Hall and other improvements for which specific funding was received. All of this restricted income has been expended and the fund balance represents the net book value of the fixed assets acquired.
19. Financial instruments
The carrying amount of financial instruments at 28 February 2021 were:
| Trade debtors Other debtor transactions Cash Financial liabilities measured at amortised cost Trade creditors Bank and other loans Other creditor transactions Financial assets measured at amortised cost |
2021 £ 34,611 63 127,435 30,066 52,405 4,910 162,108 87,382 |
2020 £ 6,397 843 65,981 |
|---|---|---|
| 73,221 | ||
| 8,828 18,815 19,132 |
||
| 46,775 |
20. Related parties
Debenham Community Centre Limited is a wholly owned subsidiary of Debenham Village Hall and Playing Field Trust, a registered Charity. The company operates the bars and associated facilities for the benefit of the Trust. The company's potentially taxable profits are donated to the Trust under Gift Aid.
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