CHARITY[REGISTRATION] NUMBER: 1099705
Debenham Village Hall and Playing Field Trust Company Limited by Guarantee Unaudited Financial Statements 28 February 2022
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Financial Statements
Year ended 28 February 2022
| Page | |
|---|---|
| Trustees’ annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the Trustees | 8 |
| Consolidated Statement of financial activities | 9 |
| Consolidated and Charity Balance sheets | 10 |
| Notestothefinancialstatements | 12 |
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee Trustees Annual Report (Incorporating the Trustee's Report)
Year ended 28 February 2022 pe 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 2022.
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.
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Charity registration number 1099705
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Company registration number 04672490 Principal office and registered Debenham Leisure Centre Gracechurch Street Debenham Stowmarket Suffolk 1P14 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 (Resigned February 2022) Mr Phillip Jones Mr Steve Robbins (Appointed September 2021) Mrs Michelle Dix (Appointed November 2021) Mrs Caroline Driver (Appointed November 2021) General Manager Rachel Keeble (Joined September 21) Jodie Burrows (Resigned August 21) Finance manager Sue Thurlow
Independent Examiner
Mrs R Marsh FMAAT, Marsh Accountancy, 67 Gardeners Road, Debenham, Stowmarket, Suffolk IP14 6RX
Bankers
National Westminster Bank pic, 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) (continuea)
Year ended 28 February 2022
Structure, Governance and Management Governing Document
Debenham Village Hall and Playing Field Trust (“Company/Trust”) 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 the 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 its 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 2022 Annual General Meeting are Stephen Spurling and Martin Durie who, being eligible, offer themselves for re-election.
We were sad to see Paul Roofe step down as Trustee after many years of supporting the Trust. We wish Paul best wishes for the future. 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. Three new Trustees joined the Trust during the reported period bringing with them a wide and ranging set of skills and experience which will be of great benefit to the Trust. We welcome any member of the Community to join our Trust Board. If you are interested then please contact our chairman, who will be pleased to share with you details of the Charity and the context within which it operates, 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 Trust Board 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 Trust Board comprises of a minimum of three members who meet quarterly and are responsible for the strategic direction and policy of the Charity. At present the Trust Board has eight (May 2022) 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 Debenham Sports & Leisure Centre to the General and Finance Managers, including the provision of specified services and facilities and supervision of the staff team. We also have two members of the Parish Council attending our Trust Board 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 maintenanceof 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 2022 eg
Operational and Financial Overview
Debenham Sports & Leisure (DS&L) — the trading name of the Trust like many businesses, continued to be limited in the delivery of operational activity covering the period of March 2021 through to July 14", 2021, due to Government restrictions related to the Covid-19 Pandemic. From July 2021 we made steady progress and have nearly reached normal operational activity related to the Sport and Leisure offer. The Community Centre remained out of operation due to the refurbishment programme which continued into our 2022/23 financial year.
We reported last year that we were able to set up a vaccination site in the Community Centre, which continued to operate through to the end of June 2021. This provided welcome income and enabled Suffolk GP Federation to vaccinate around 10,000 Parishioners with two doses of vaccine. From the feedback regarding this project, we can all be very proud of the positive outcomes and particular thanks goes to those unpaid volunteers who welcomed Parishioners on the start of this journey.
Other income streams that did continue came from Debenham High School and when allowed, from Zeera, Indian Takeaway.
Below you will see pie charts setting out our main income streams along with our main expenditure. The graphs show a reassuring return of activities from July 2021 onwards with income and expenditure rising to near normal levels.
Once again, we acknowledge the help and financial support provided by Mid Suffolk District Council throughout the year and the Government for their continued furlough payments to July 2021, which have assisted us in posting an excess for the year of £364,978 of which £291,156 are restricted funds.
There are a number of grant providers who have supported us achieving our projects in this financial year. The projects supported were:
| Community Centre Refurbishment | |||
|---|---|---|---|
| Power to Change Viridor Credits |
£ £ |
176,000 _ includes£8,000 for Business Development 66,526 |
|
| Mid Suffolk District Council | £ | 8,545 | (Further substantive grants in 2022/23) |
| Suffolk County Councillor | £ | 1,000 | |
| District Councillors | £ | 1,500 | |
| Parish Council | F | 10,000 | |
| Mid Suffolk District Council | |||
| New Rear Car Park | £ | 89,760 | |
| Annual Revenue Grant | £ | 25,000 | |
| Covid Restart Grant | £ | 23,559 | |
| HMRC | |||
| CovidJobRetentionScheme | £ | 15,096 |
We thank all of the above for their continued support and all others that contributed towards our success throughout the last two turbulent years.
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 2022
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Grant Support 21/22
1,000
aN 10,000
sMSDC «Parish Council © Powerto Change HMRC ow Viridor Credits = Suffolk CC
Table 1
income Totals 20/21 Totals21/22 %-/+ Table 1 shows the Community Centre hire
(vaccine site) and the bar income moving
in the right direction. With the Deben
Community Centre £19,254 £38,106 98% Lounge bar income rising by 249%, these
MSDC Grant £25,000 £25,000 0% figures are very pleasing.
Debenham High School £26,299 £26,299 0%
Deben Lounge bar £31,748 £110,803 249%
Fitness Studio £6,372 £16,937 166%
Community Centre bar £0 £38,103
Major Income 2021/22
« Community Centre Hire = MSDC Grant
« Debenham High Schoo! Deben Lounge Bar
= Fitness Studio = Community Centre Bar
ei
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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 2022
Table 2
Expenditure Totals 20/21 Totals 21/22 %-/+ Table 2 highlights the expected increases in expenditure in relation to the increased income levels. Wages £141,508 £147,224 4.04% Ourincrease main inconcernelectricityfor ourcharges; currentdoublingfinancial ouryearcurrentis the Bar Purchases £16,622 £50,216 202.11% spend. This along with the increases in the National Pellets Living Wage and National Minimum Wage will be Fundraising £ 12,847401 £ 5,0614,4 2 0 1161 2. 32 4% challenging in 2022/23 Electricity £10,463 £13,272 26.85% Vending Purchases £1,134 £2,863 152.47%
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Major Expenditure 21/22
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£5,062 _£13,27 mia ‘é £2,863
£14,420. ’se
= Wages * Bar Purchases = Pellets » Fundraising = Electricity = Vending Purchases
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Insurance Claim
Following a long Court battle, Insurance companies were ordered to settle payments with Businesses that had “Business Interruption” as part of their policy. We were pleased that our insurance company followed the Court decision and settled in full.
5
Debenham Village Hall and Playing Field Trust Company Limited by Guarantee Trustee's Annual Report (Incorporating the Trustee's Report) (continuea) Year ended 28 February 2022 Bil aie lite ie ae
Projects 2021/22 As detailed above we continued our drive to seek funding for the refurbishment of the Community Centre. That project commenced in September 2021 and is nearing completion as we write this report. We hope to have a formal reopening occasion late in May or early June 2022 to acknowledge our thanks to all grant providers. The refurbishment included, a new zinc roof, upgrading of heating, new windows and installation of Velox roof lights, complete replacement of outside boarding and insulation. The new boarding will be of a cement-based product lasting many years into the future.
The new car park to rear of the leisure centre become fully operational in September 2021. The car park is mainly used by Debenham High School, which has freed up 40 car park spaces to the front of the Community Centre for use by our valued customers.
In addition to providing a new car park, we also refurbished both of our front car parks
Projects 2022/23 Refurbishment of Community Centre bar (complete) Refurbishment of Shower and changing facilities (Subject to FA funding) Replacement of the Fire and Intruder Alarms (underway, completion end of May) Community Centre toilets (Bids have been submitted for funding) Disabled access to the fitness suite and dance studio
Business Development Support
As part of our bid “Power to Change”, we were awarded £8k to develop our business. We engaged a local Consultancy team to undertake this project throughout 2021/22. They undertook a very detailed analysis of the Trust which involved all areas and included many meetings with Trustees and Staff. Community engagement was also key to their review. At the end of the project, we were pleased to learn that we were operating well in many areas. The review also highlighted areas where improvements to current processes could be made. The final report allowed us to concentrate on the work that needed to be undertaken and we are pleased with the results so far.
The Consultancy will continue to oversee the progress we make and have offered to support us until all work is complete.
2021/22 was a challenging year and thanks to the dedication of the Trustees, Staff, Volunteers and loyal customers we managed to remain positive in delivering services where we could.
So, a big thanks to all those people and businesses mentioned through this report, we would not be able to do it without your support.
6
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 2022
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 iQ Mes 2020 by: Trustee's annual report was approved on ....!.....'.°."2.2°“"s and signed on behalf of the board of trustees
Mr S Spurling (Chairman) Trustee
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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 2022 i oer einai el
| report to the Charity Trustees on my examination of the financial statements of the company for the year ended 28 February 2022 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 146 of the 2006 Act and are eligible for independent examination, | 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 | 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. | can confirm that | am qualified to undertake the examination because | am a member of the Association of Accounting Technicians. | have completed my examination and | 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:
-
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).
| have no concerns nor have | 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
8
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 2022
| Year endedended 28 February 2022 | |||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Unrestricted Farin |
Restricted suriic |
Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income | |||||
| Grants | 5 | 25,845 | 343,689 | 369,534 | 117,130 |
| Income from charitable activities | |||||
| Community Centre income | 174,234 | - | 174,234 | 68,656 | |
| Sports and Leisure Centre income | 122,389 | - | 122,389 | 62,385 | |
| Trading activities | |||||
| Bar and associated income | 6 | - | ‘ | 2 | “ |
| Fundraising eventsand activities | 11,065 | - | 11,065 | 837 | |
| Other income | |||||
| Renewable heating incentive | 21,589 | - | 21,589 | 18,891 | |
| Miscellaneous income | 50,343 | - | 50,343 | 1,838 | |
| COVID-19 Grants | 38,633 | - | 38,633 | 109,767 | |
| investment income—bank interest | 14 | . | 14 | 30 | |
| Total Income | 444,112 | 343,689 | 787,801 | 379,532 | |
| Expenditure | |||||
| Expenditure on raising funds | |||||
| Baroperating costs | 109,076 | - | 109,076 | 66,258 | |
| Fundraising expenses | 7 | 5,063 | - | 5,063 | 26 |
| Expenditure on charitable activities | |||||
| Centre operating and activity costs | 256,152 | 52,533 | 308,685 | 223,944 | |
| Totalexpenditure | 370,290 | 52,533 | 422,823 | 290,229 | |
| Net income/(expenditure) and netmovement in funds | 73,822 | 291,156 | 364,978 | 89,304 | |
| Reconciliation offunds | |||||
| Fund balances at 1 March 2021 | 277,556 | 302,054 | 579,610 | 490,305 | |
| Fundbalancesat28February2022 | 351,378 | 593,210 | 944,588 | 579,610 |
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 2021 is shown in note 4.
__ CT 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)
Year ended 28 February 2022
| Year ended 28 February 2022 | |||||
|---|---|---|---|---|---|
| Group | Charity | ||||
| 2022 | 2021 | 2022 | 2021 | ||
| Note | i | £ | £ | E | |
| Fixed assets | |||||
| Tangible assets | 11 | 732,343 | 503,739 | 713,121 | 488,725 |
| Investments | 12 | - | : | 100 | 100 |
| 732,343 | 503,739 | 713,221 | 488,825 | ||
| Current assets | |||||
| Stock | 13 | 6,501 | 3,504 | - | - |
| Debtors. | 14 | 38,073 | 34,673 | 102,026 | 109,377 |
| Cash at bank and in hand | 250,346 | 127,435 | 248,221 | 126,604 | |
| 294,920 | 165,611 | 350,247 | 235,981 | ||
| Creditors:amounts fallingduewithinoneyear | 15 | 45,404 | 43,074 | 34,196 | 39.502 |
| Net current assets/ (liabilities) | 249,516 | 122,537 | 316,051 | 196,479 | |
| Creditors: amounts falling due aftermorethan oneyear |
416 | 37,271 | 46,667 | 37,271 | 46,667 |
| Net assets | 944,588 | 579,610 | 992,001 | 638,638 | |
| Funds | |||||
| Unrestricted | 17 | 471,545 | 277,556 | 661,984 | 336,585 |
| Restricted | 473,043 | 302,054 | 330,017 | 302,053 | |
| TotalFunds | 944,588 | 579,610 | 992,001 | 638,638 |
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.
10
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Consolidated and Charity Balance Sheets (continued) 28 February 2022 2 ee
For the year ending 28 February 2022 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;
-
e 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 Qn. re, “QOL. and are signed on behalf of the board by:
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a
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Mr S Spurling (Chairman) Trustee
Company registration number: 04672490
I Thetcp notes on pagesaall12 ia to Error! icimiaplliBookmarkcae noteae defined.amineform partsae ofsg these financialge statements.
11
Debenham Village Hall and Playing Field Trust Company Limited by Guarantee
Notes to the Financial Statements (continued) Year ended 28 February 2022 Ol ag A ieee i a
- 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.
- 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.
- 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 asa 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.
12
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continue
Year ended 28 February 2022
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.
13
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 28 February 2022
- Consolidated statement of Financial Activities for year ended 28 February 2021
| Unrestricted | Restricted | Restricted | Total | |
|---|---|---|---|---|
| funds | funds | Funds | ||
| 2021 | 2021 | 2021 | ||
| £ | £ | £ | ||
| Income | ||||
| Grants | 25,000 | 92,130 | 117,130 | |
| Income from charitable activities | ||||
| Community Centre income | 68,656 | . | 68,656 | |
| Sports and Leisure Centre income | 62,385 | - | 62,385 | |
| Trading activities | ||||
| Bar and associated income | - | - | - | |
| Fundraising events and activities | 837 | - | 837 | |
| Other income | ||||
| Renewable heating incentive | 18,891 | - | 18,891 | |
| Miscellaneous income | 1,838 | - | 1,838 | |
| COVID-19 Grants | 109,767 | - | 109,767 | |
| Investment income | 30 | - | 30 | |
| Total income | 287,403 | 92,130 | 379,532 | |
| Expenditure | ||||
| Expenditure on raising funds | ||||
| Bar operating costs | 66,258 | - | 66,258 | |
| Fundraising expenses | 26 | 5 | 26 | |
| Expenditure on charitable activities | ||||
| Centre operating and activity costs | 95,431 | 128,514 | 223,944 | |
| Total expenditure | 161,715 | 128,514 | 290,229 | |
| Net income and netmovement in funds | 125,688 | (36,384) | 89,304 | |
| Reconciliation of funds | ||||
| Fund balances at 1 March 2020 | 151,868 | 338 | 437 | 490,305 |
| Fundbalancesat28February2021 | 277,556 | 302,054 | 579,610 |
and 8 ee ea
14
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continuea)
Year ended 28 February 2022
| 5. | Grants receivable | ||||
|---|---|---|---|---|---|
| Unrestricted 2022 |
Restricted 2022 |
Total 2022 |
Total 2021 |
||
| £ | £ | £ | £ | ||
| Revenue grants | |||||
| Mid Suffolk District Council GP Referrals |
25,845 - |
91,260 6,510 |
117,105 6,510 |
107,130 - |
|
| Debenham Parish Council | - | - | - | 10,000 | |
| Power to Change | - | 171,000 | 171,000 | - | |
| Suffolk County Council UMI |
- - |
1,000 . |
1,000 - |
- . |
|
| Virdor | - | 73,919 | 73,919 | - | |
| Government COVID-19 grants | 37,810 | . | 37,810 | 109,767 | |
| ————— | ———— | —===———_= | =S——= | ||
| 6. | Subsidiary company results | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Sales | 127,330 | 48,132 | |||
| Government COVID-19 grants | 824 | 10,927 | |||
| Other income | a | 413 | |||
| Cost ofsales Gross profit Operating costs |
(109,076) 19,078 (924) |
(66,258) (6,787) (1,027) |
|||
| Operating profit | 18,154 | (7,814) | |||
| Depreciation | (6,540) | (4,455) | |||
| Loan interest | - | (4) | |||
| Netprofit/(loss) | 11,614 | (12,272) |
6. Subsidiary company results
Operating costs of comprise the direct costs of operating the bars and a share of the Centre's overheads
| The | assets and liabilities ofthe subsidiary were: | 2022 | 2021 |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | 19,222 | 14,914 | |
| Current assets | 9,789 | 3,504 | |
| Creditors: amounts falling due within one year | (76,324) | (79,978) | |
| Net current assets | (47,314) | (61,561) | |
| Creditors: amounts falling due after more than | . | . | |
| Net liabilities | (47,314) | (61,561) | |
| Capitalandreserves | ___47,314 | _59,028 |
15
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continuea)
Year ended 28 February 2022
7. Charitable activities
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Centre operating and activity costs | |||
| Staff costs | 127,099 | 123,348 | |
| Maintenance, utilities and other overhead costs | 81,656 | 37,701 | |
| Activity costs Depreciation Interest and bank charges |
16,834 66,345 6,133 |
3,909 50,200 3,168 |
|
| Independent examiner's fees | 1,059 299,125 |
1,008 219,334 |
|
| The costs above include restricted fund expenditure comprising depreciation of £48,388. | |||
| 8. | Independent examination fees | 2022 | 2021 |
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination forthe financial statements | 1,059 | 1,008 | |
| 9. | Staff costs | ||
| 2022 | 2021 | ||
| £ | = | ||
| The | cost of employing staffwas: | ||
| Wages and salaries | 147,096 | 140,946 | |
| National insurance | 4,499 | 7,596 | |
| Pension contributions | 2,457 | 2,206 | |
| 154,053 | 150,748 |
The average head count of employees during the year was 16 (2021: 19).
No employee received employee benefits of more than £60,000 during the year (2021: 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.
16
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continuea)
Year ended 28 February 2022
| 11. | Tangible fixed assets | |||||
|---|---|---|---|---|---|---|
| Land and | Furniture, | Total | ||||
| Group | buildings | fittings & | ||||
| equipment | ||||||
| £ | £ | = | ||||
| Cost | ||||||
| At 1 March 2021 | 953,848 | 266,679 | 1,220,527 | |||
| Additions | 276,110 | 28,494 | 304,604 | |||
| Disposals | - | (3,935) | (3,935) | |||
| At28 February2022 | 1,229,958 | 291,238 | 1,521,196 | |||
| Depreciation | ||||||
| At 1 March 2021 | 545,524 | 171,265 | 716,788 | |||
| Charge fortheyear Disposals |
46,466 - |
26,419 (820) |
72,885 (820) |
|||
| At 28 February 2022 | 591,990 =SS——————___ |
196,864 === |
788,853 =———————————S$<_=" |
|||
| Net | book value | |||||
| At 28 February 2022 | 637,968 —— |
—— | 94,375 | 732,343 === eae |
||
| At 28 February 2021 | 408,325 | 95,415 | 503,739 | |||
| Charity | Landand buildings |
Furniture, fittings& |
Total | |||
| equipment | ||||||
| £ | £ | £ | ||||
| Cost | ||||||
| At 1 March 2021 Additions |
951,133 273,028 |
140,044 20,827 |
1,091,177 293,856 |
|||
| Disposals | - | (3,935) | (3,935) | |||
| At 28 February 2022 | 1,224,162 | 156,936 | 1,381,097 | |||
| Depreciation | ||||||
| At 1 March 2021 | 544,981 | 57,471 | 602,452 | |||
| Charge for the year | 45,415 | 20,929 | 66,345 | |||
| Disposals | - | (820) | (820) | |||
| At 28 February 2022 | 590,396 | 77,580 | 667,976 | |||
| Net | book value | |||||
| At 28February 2022 | 633,766 | ee OE | a | 13,121 | ||
| At28February2021 | 406,153) | 82.573 | ___488,725 | 488,725 |
17
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continueq)
Year ended 28 February 2022
| 12. | Fixed assets - Investments | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | E | ||
| Investment in subsidiary | |||
| Shares at cost | 100 ————— |
100 —l—— |
At 28 February 2022 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
| 13. | Stocks | ||||
|---|---|---|---|---|---|
| Group | Group | Charity | Charity | ||
| 2022 | 2021 | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| Stock | for resale | 6,501 | 3,504 | - | - |
| 14. | Debtors | ||||
| Group | Group | Charity | Charity | ||
| 2022 | 2021 | 2022 | 2021 | ||
| £ | a | £ | £ | ||
| Amount due from subsidiary | - | - | 65,116 | 77,300 | |
| Trade debtors | 8,069 | 11,991 | 6,907 | 2,534 | |
| Other debtors. | 22,620 | 22,620 | 22,620 | 22,620 | |
| Prepayments | 7,383 | 63 | 7,383 | 63 | |
| 38,073 | 34,673 | 102,026 | 102,516 | ||
| 15. | Creditors: amounts falling due within one year | ||||
| Group | Group | Charity | Charity | ||
| 2022 | 2021 | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| Bank | loans and overdrafts (secured) | . | . | - | 2,405 |
| Bank | loans and overdrafts (unsecured) | 9,586 | 5,739 | 9,586 | 3,333 |
| Trade creditors | 12,845 | 30,066 | 4,916 | 26,682 | |
| Supplier loan (secured) | “ | i | = | 3 | |
| Other taxes and social security costs | 8,839 | 2,359 | 6,253 | 2,831 | |
| Other creditors | 12,276 | 10,469 | 12,276 | 10,469 | |
| Accruals and deferred income | 1,858 | (5,558) | 1,165 | (6,218) | |
| 45,404 | 43,074 | 34,196 | 39,502 |
18
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued) Year ended 28 February 2022
16. Creditors: amounts falling due after more than one year
| Group | Group | Charity | Charity | ||
|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||
| E | 2 | £ | £ | ||
| Bank loans (secured) | - | . | - | - | |
| Bank loans (unsecured) | 37,271 | 46,667 | 37,401 | 46,667 | |
| 37,271 | 46,667 | 37,271 | 46,667 | ||
| —————= | —___ | ————————— | ——————_ | ||
| 17. Analysis of charitable funds |
|||||
| At1 March |
Income | Expend- iture |
Transfer | At28 February |
|
| 2021 | 2022 | ||||
| £ | £ | £ | £ | £ | |
| Unrestricted funds: | |||||
| Generalfunds | 205,683 | 444,112 | (370,290) | (33,600) | 245,905 |
| Designated property sinking fund | 61,639 | - | - | 9,600 | 71,239 |
| Designated for maintenance | 10,234 | - | - | - | 10,234 |
| Designated for boilerfund | - | - | . | 24,000 | 24,000 |
| Restricted funds: | |||||
| Capital projects | 298,079 | 337,179 | (48,388) | - | 586,870 |
| Restricted forGP Referrals | 3,975 | 6,510 | (4,145) | - | 6,340 |
| 579,610 | 787,801 | (422,823) | . | 944,588 | |
| 18. Analysis of net assets byfund |
|||||
| Fixed | Netcurrent | Long-term | Total | ||
| assets | assets/ | Liabilities | funds | ||
| (liabilities) | |||||
| £ | £ | £ | £ | ||
| Unrestrictedfunds: | |||||
| General funds | 213,375 | 69,800 | (37,271) | 245,904 | |
| Designated property sinking fund | - | 71,239 | - | 71,239 | |
| Designated formaintenance | . | 10,234 | . | 10,234 | |
| Designated for boiler fund | - | 24,000 | - | 24,000 | |
| Restricted funds: | |||||
| Capital projects | 518,968 | 67,902 | - | 586,870 | |
| Restricted forGP Referrals | - | 6,340 | - | __6,340_ | |
| 732,343 | 249,516 | (37,271) | 944,588 |
19
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee Notes to the Financial Statements (continued)
Year ended 28 February 2022
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 2022 were:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Financial assets measured at amortised cost | ||
| Trade debtors | 30,689 | 34,611 |
| Other debtortransactions | 7,383 | 63 |
| Cash | 250,346 | 127,435 |
| 288,419 | 162,108 | |
| TF | ——SS—— | |
| Financial liabilities measured at amortised cost | ||
| Trade creditors | 12,845 | 30,066 |
| Bank and other loans | 46,857 | 52,405 |
| Other creditor transactions | 14,133 | 4.910 |
| 73,836 | 87,382 |
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.
20