CHARITY[REGISTRATION] NUMBER: 1099705
Debenham Village Hall and Playing Field Trust Company Limited by Guarantee Unaudited Financial Statements 28 February 2023
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Financial Statements
Year ended 28 February 2023
| 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 |
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Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Trustees Annual Report (Incorporating the Trustee's Report)
Year ended 28 February 2023 2.
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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 2023.
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) Resigned July 2022 Re-appointed March 2023 Ms Caroline Driver (Chairman) Appointed November 2022 Resigned March 2023 Mr Phil Jaynes (Treasurer) Mr Douglas McMyn (Secretary) Resigned January 2023 Mr Howard Simpson (Secretary) Appointed February 2023 Mr George Durie Mr Martin Durie Mr Phillip Jones Mr Steve Robbins Mrs Michelle Dix Mr Rob Morris Appointed July 2022 General Manager Rachel Keeble Resigned May 2022 Lauren Squirrell Acting General Manager Finance manager 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 2023
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 2023 Annual General Meeting are Phil Jones and Martin Durie 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. 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:
e The obligations of the Trustees e The operational framework of the Charity including the Memorandum and Articles of Association e Resourcing and the current financial position including the latest published and management accounts e 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 2023) 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
facilitiesThe Charity’sfor theobjectiveuse of isthe theinhabitantsprovision andof themaintenanceParish of ofDebenhama village hall,and recreationits neighbourhood ground andwithout otherdistinction recreationalof 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 2023
Operational and Financial Overview
Debenham Sports & Leisure (DS&L) - the trading name of the Trust - was pleased to see some normality return in all areas of the business, following 2 years of uncertainty due to the Covid Pandemic. With that behind us we have seen levels of service in our fitness and activity delivery, reach pre-pandemic levels and beyond. As reported in our 2021/22 annual report the Community Centre refurbishment continued into our 2022/23 financial year and only became operational with limited access in October 2022. Steady progress was made, and it became fully functional soon after. We were also pleased to include the refurbishment of the toilet facilities within the Community Centre as a separate project with grants being made available from several sources mentioned later in this report.
Our GP referral programme has now been well established, and we are receiving a good number of patients who need rehabilitation for several conditions or following operations. Late in this financial year this service was widened to Cardiac rehabilitation as our Fitness Instructor qualified to deliver this. All these programmes provide a local service for our community and save on travel to Stowmarket where the next nearest facility is available. One of the testimonials from a very happy customer.
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One of the biggest rewards of working at DS&L is to observe the dedication of the Staff, volunteers and fellow Trustees who work tirelessly to make our business a success. This combined with our regular customer base and grant providers continues to ensure we remain a viable necessary business serving the area of Debenham, its surrounding villages and beyond. A big thank you to all of you.
We would like to formally acknowledge through our annual report the fantastic support we have received from the grant providers below. Their continued support makes DS&L what it is, a first-class facility available to all throughout the community we serve. Thank you, all of you.
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 2023
| Community Centre Refurbishment | |
|---|---|
| MSDC CIL Grant | 84537.89 |
| MSDC Capital Grant | 7501.54 |
| Powerto Change | 5000.00 |
| Debenham Parish Council | 10000.00 |
| CommunityCentreToilets | ees |
| MSDCK Guthrie | 1000.00 |
| Debenham Parish Council | 5000.00 |
| The Lord Belstead Charitable Trust | 3000.00 |
| Valencia Communities Fund | 25000.00 |
| The National LotteryCommunity Fund | 10000.00 |
| GymEquipment Cd MSDC 19744.30 |
|
| Suffolk Community Foundation | 2000.00 |
| Cutlery/Crockery | es |
| SCC Matthew Hicks | 496.38 |
| Energy Bills | pee |
| Asda Foundation Cost of LivingGrant | 1500.00 |
| Powerto Change | 10000.00 |
| GoldenGamesClub | Ss |
| Suffolk Community Foundation (Co-opCommunity Cares Fund) | 1100.00 |
| MSDC Revenue Grant | 25000.00 |
| MSDCCommunityGrant | 2500.00 |
Below you will see pie charts setting out our main income streams along with our main expenditure. The graphs show a continued return of activities throughout the financial year. Our biggest concern for 2022/23 was the increase in utility costs. Electricity increased threefold and pellets for our Biomass boiler saw similar increases. We appreciated the Government help meeting some of these costs and Power for Change both providing grants over the period. However, for 2023/24 these costs will need to be met from our own resources which will be challenging as we go forward.
Financial information is covered in more detail later in the audited accounts.
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4
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 2023
Table 1
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Income Totals 21/22 Totals22/23 %-/+ Major Income 2022/23
£32,754
CommunityMSDC Grant Centre £38,106£25,000 £32,754£25,000 -14%0% £35,090i,me Ls£25,000 a
Debenham High School £26,299 £26,299 0% .
Deben Lounge bar £110,803 £195,528 76% a £195,528
Fitness Studio £16,937 £35,090 107%
Community Centre bar £38,103 £43,101 13%
£255, 248 £357, 772 40% = Community Centre Hire = MSDC Grant
Debenham High School » Deben Lounge Bar
= Fitness Studio « Community Centre Bar
1 showsaa positive return when compared when compared compared with 2021/22. The Deben The Deben Deben Lounge and Fitness Studio have have
successful over 2022/23, 2022/23, with the Community Centre bar also also increasing its income. Community Centre
remains a concern, although the drop in income is related to additional income we received as a vaccine
2021, March — June.
2
Expenditure Totals 21/22 Totals 22/23 %-/+ Major Expenditure 22/23
£33,488 £5,868
WagesBar Purchases £147,224£50,216 £201,141£104,781 108.66%36.62% eas =£11,299on]|
Pellets £14,420 £26,133 81.23%
Fundraising £5,062 £11,299 123.21%
Electricity £13,272 £33,488 152.32%
Vending Purchases £2,863 £5,868 104.96%
£233,057 £382,710 64.21% = Wages = Bar Purchases = Pellets
Fundraising = Electricity » Vending Purchases
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Table 1 showsaa positive return when compared when compared compared with 2021/22. The Deben The Deben Deben Lounge and Fitness Studio have have been very successful over 2022/23, 2022/23, with the Community Centre bar also also increasing its income. Community Centre hire remains a concern, although the drop in income is related to additional income we received as a vaccine centre in 2021, March — June.
Table 2
Table 2 Shows the challenges we face for 2023/24. The increases in expenditure are as a direct result of energy cost, electricity (+152%), Wood Pellets (+81.23%) and Wages (+36.62%). Bar purchases are in line with the income increases as set out in table 1. Wage increases were related to the National Living Wage (NLW) and National Minimum Wage (NMW) in addition to employing additional staff, particularly to offer our new food offer.
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 2023
Projects 2022/23
We completed the refurbishment of the Community Centre and made successful bids to undertake further refurbishment to include the toilets in the Community Centre. Our Fire and Intruder alarm system was replaced, and CCTV was installed to cover the whole complex. We are carrying forward outstanding projects to 2023/24 to include refurbishment of toilets and changing facilities in the Sports Centre and a separate project to provide Disabled access to our upstairs facilities, including the Fitness Suite. We have also started a funding bid for the installation of solar panels across the Sports hall roof and hope to complete this by end of the current financial year, building on our objective to reduce our Carbon footprint.
2022/23 has been another challenging year and thanks to the dedication of the Trustees, Staff, Volunteers and loyal customers we have ended the financial year on a positive note.
So, a big thank you to all those people and businesses mentioned throughout this report, we would not be able to do it without your support.
Steve Spurling
Chair Debenham Village Hall & Playing Field Trust
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 2023
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 onl 1 - OS “202% and signed on behalf of the board of trustees by:
Mr S Spurling (Chairman) Trustee
7
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 2023
| report to the Charity Trustees on my examination of the financial statements of the company for the year ended 28 February 2023 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, | 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
-
the accounts do not accord with those records; or
-
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
-
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 2023
| Year endedended 28 February 2023 | |||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Unrestricted funds |
Restricted funds |
fotalFonds | Tetaltoreds | ||
| Note | £ | £ | £ | £ | |
| Income | |||||
| Grants | 5 | 39,924 | 171,384 | 211,308 | 369,534 |
| Income from charitable activities | - | - | |||
| Community Centre income | 66,323 | - | 66,323 | 46,903 | |
| Sports and Leisure Centre income | 158,665 | - | 158,665 | 122,389 | |
| Trading activities | |||||
| Barand associated income | 6 | 247,761 | - | 247,761 | 127,330 |
| Fundraising events and activities | 25,260 | - | 25,260 | 11,065 | |
| Other income | |||||
| Renewable heating incentive | 17,465 | - | 17,465 | 21,589 | |
| Miscellaneous income | 3,551 | - | 3,551 | 50,343 | |
| Insurance claim | 2,254 | - | 2,254 | - | |
| COVID-19 Grants | - | - | - | 38,633 | |
| Investment income —bank interest | 238 | - | 238 | 14 | |
| Total Income | 561,443 | 171,384 | 732,827 | 787,801 | |
| Expenditure | |||||
| Expenditure on raising funds | |||||
| Baroperating costs | 222,768 | - | 222,768 | 109,076 | |
| Fundraising expenses | 7 | 11,299 | - | 11,299 | 5,063 |
| Expenditure on charitable activities | |||||
| Centre operating and activity costs | 335,582 | 64,949 | 400,532 | 308,685 | |
| Total expenditure | 569,649 | 64,949 | 634,599 | 422,823 | |
| Net income/(expenditure) and netmovement in funds | (8,206) | 106,435 | 98,228 | 364,978 | |
| Reconciliation offunds | |||||
| Fund balances at 1 March 2022 | 351,378 | 593,210 | 944,588 | 579,610 | |
| Fundbalancesat28February2023 | 343,172 | 699,645 | 1,042,816 | 944,588 |
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 2022 is shown in note 4.
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The notes on pages 12 to 20 form part of these financial statements.
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9
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Consolidated and Charity Balance Sheets (continued)
Year ended 28 February 2023
| Year ended 28 February 2023 | |||||
|---|---|---|---|---|---|
| Group | Charity | ||||
| 2023 | 2022 | 2023 | 2022 | ||
| Note | £ | E | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 11 | 915,057 | 732,343 | 892,152 | 713,121 |
| Investments | 12 | - | - | 100 | 100 |
| 915,057 | 732,343 | 892,252 | 713,221 | ||
| Current assets | |||||
| Stock | 13 | 6,305 | 6,501 | 1,137 | - |
| Debtors | 14 | 42,589 | 38,073 | 91,541 | 102,026 |
| Cash at bank and in hand | 170,850 | 250,346 | 164,413 | 248,221 | |
| 219,744 | 294,920 | 257,091 | 350,247 | ||
| Creditors:amounts falling duewithin oneyear | 15 | 64,542 | 45,404 | 47,683 | 34,196 |
| Netcurrentassets/ (liabilities) | 155,202 | 249,516 | 209,407 | 316,051 | |
| Creditors: amounts falling due aftermore than one year |
16 | 27,442 | 37,271 | 27,442 | 37,271 |
| Net assets | 1,042,816 | 944 588 | 1,074,217 | 992,001 | |
| Funds | |||||
| Unrestricted | 17 | 343,171 | 471,545 | 339,749 | 661,984 |
| Restricted | 699,646 | 473,043 | 734,468 | 330,017 | |
| TotalFunds | 1,042,816 | 944,588 | 1,074,217 | 992,001 |
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 12 to 20 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 2023
For the year ending 28 February 2023 the Charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
-
e 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 1") - OS -"2 6%, and are signed on behalf of the board by:
Mr S Spurling (Chairman) Trustee
Company registration number: 04672490
The notes on pages 12 to Error! Bookmark not defined. form part of these financial statements.
11
Debenham Village Hall and Playing Field Trust Company Limited by Guarantee Notes to the Financial Statements (continuea) Year ended 28 February 2023
- 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, |P14 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 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 (continueg)
Year ended 28 February 2023
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 2023
- Consolidated statement of Financial Activities for year ended 28 February 2022
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | Funds | |
| 2022 | 2022 | 2022 | |
| £ | £ | £ | |
| Income | |||
| Grants | 25,845 | 343,689 | 369,534 |
| Income from charitable activities | |||
| Community Centre income | 46,903 | - | 46,903 |
| Sports and Leisure Centre income | 122,389 | - | 122,389 |
| Trading activities | |||
| Bar and associated income | 127,330 | - | 127,330 |
| Fundraising events and activities | 11,065 | - | 11,065 |
| Other income | |||
| Renewable heating incentive | 21,589 | - | 21,589 |
| Miscellaneous income | 50,343 | - | 50,343 |
| COVID-19 Grants | 38,633 | - | 38,633 |
| Investment income | 14 | - | 14 |
| Total income | 444,112 | 343,689 | 787,801 |
| Expenditure | |||
| Expenditure on raising funds | |||
| Bar operating costs | 109,076 | - | 109,076 |
| Fundraising expenses | 5,063 | - | 5,063 |
| Expenditure on charitable activities | |||
| Centre operating and activity costs | 256,152 | 52,533 | 308,685 |
| Total expenditure | 370,290 | 52,533 | 422,823 |
| Net income and netmovement in funds | 73,821 | 291,156 | 364,977 |
| Reconciliation offunds | |||
| Fund balances at 1 March 2021 | 277,556 | 302,054 | 579,610 |
| Fundbalancesat28February2022 | 224,047 | 593,210 | 944,588 |
14
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continueq)
Year ended 28 February 2023
| 5. | Grants receivable | |||||
|---|---|---|---|---|---|---|
| Unrestricted 2023 |
Restricted 2023 |
Total 2023 |
Total 2022 |
|||
| £ | £ | £ | E | |||
| Revenue grants | ||||||
| Mid Suffolk District Council | 28,424 | 114,784 | 143,208 | 117,105 | ||
| GP Referrals | - | - | - | 6,510 | ||
| Debenham Parish Council Power to Change Suffolk County Council The Lord Belstead Charitable Trust Valencia Communities Fund The National Lottery Community Fund Suffolk Community Foundation Asda Foundation Cost of Living Grant GovernmentCOVID-19 grants |
- 10,000 - - - - - 1,500 - —— 39,924 |
20,000 20,000 - 5,000 15,000 171,000 - - 1,000 3,000 3,000 - 17,500 17,500 73,919 10,000 10,000 - 1,100 1,100 - - 1,500 - - - 37,810 TTBEAT3080734 |
||||
| 6. | Subsidiary company results | |||||
| 2023 | 2022 | |||||
| Sales Government COVID-19 grants |
£ 247,761 - |
£ 127,330 824 |
||||
| Other income | é | a | ||||
| Cost ofsales Gross profit Operating costs |
(222,768) 24,994 (1,051) |
(109,076) 19,078 (924) |
||||
| Operating profit Depreciation Loan interest |
23,943 (7,929) : |
18,154 (6,540) - |
||||
| Net profit / (loss) | 16,014 | 11,614 | ||||
| Operating costs ofcomprise the direct costs ofoperating the bars and a | share | ofthe Centre’s | overheads | |||
| The | assets and liabilities of the subsidiary were: | 2023 | 2022 | |||
| £ | £ | |||||
| Fixed assets | 22,905 | 19,222 | ||||
| Current assets | 12,726 | 9,789 | ||||
| Creditors: amounts falling due within oneyear | (66,931) | (76,324) | ||||
| Net current assets Creditors: amounts falling due after more than |
(31,300) - |
(47,314) - |
||||
| Net liabilities | (31,300) | (47,314) | ||||
| Capitalandreserves | (31,300) | (47,314) |
15
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continueq)
Year ended 28 February 2023
7. Charitable activities
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Centre operating and activity costs | |||
| Staff costs | 154,846 | 127,099 | |
| Maintenance, utilities and other overhead costs | 120,982 | 81,656 | |
| Activity costs | 21,621 | 16,834 | |
| Depreciation Interest and bank charges |
71,911 10,600 |
66,345 6,133 |
|
| Independent examiner's fees | 2,115 382,075 |
1,059 299,125 |
|
| The | costs above include restricted fund expenditure comprising depreciation of £48,388. | ||
| 8. | Independent examination fees | 2023 | 2022 |
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination forthe financial statements | 1,107 | 1,059 | |
| 9. | Staff costs | ||
| 2023 | 2022 | ||
| £ | e | ||
| The | cost ofemploying staffwas: | ||
| Wages and salaries | 147,429 | 147,096 | |
| National insurance | 4,872 | 4,499 | |
| Pension contributions | 2,546 | 2,457 | |
| 154,846 | 154,053 |
The average head count of employees during the year was 19 (2022: 16).
No employee received employee benefits of more than £60,000 during the year (2022: 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 (continue
Year ended 28 February 2023
| 11. | Tangible fixed assets | |||
|---|---|---|---|---|
| Land and | Furniture, | Total | ||
| Group | buildings | fittings & | ||
| equipment | ||||
| £ | £ | £ | ||
| Cost | ||||
| At 1 March 2022 | 1,229,958 | 291,238 | 1,521,196 | |
| Additions | 230,500 | 43,605 | 274,105 | |
| Disposals | - | (14,007) | (14,007) | |
| At 28 February 2023 | 1,460,458 | 320,837 | 1,781,295 | |
| Depreciation | ||||
| At 1 March 2022 | 591,990 | 196,864 | 788,853 | |
| Charge for the year | 56,162 | 28,433 | 84,595 | |
| Disposals | - | (7,210) | (7,210) | |
| At 28 February 2023 | 648,152 | 218,087 | 866,238 | |
| Net book value | ||||
| At 28 February 2023 | 812,307 | 102,750 | 915,057 | |
| At 28 February 2022 | 637,968 | 94,375 | 732,343 | |
| Land and | Furniture, | Total | ||
| Charity | buildings | fittings& | ||
| equipment | ||||
| £ | £ | £ | ||
| Cost | ||||
| At 1 March 2022 | 1,224,162 | 157,503 | 1,381,664 | |
| Additions Disposals |
227,985 : |
34,508 (14,007) |
262,494 (14,007) |
|
| At 28 February 2023 | 1,452,147 | 178,004 | 1,630,151 | |
| Depreciation | ||||
| At 1 March 2022 | 590,396 | 78,147 | 668,543 | |
| Charge for the year | 54,818 | 21,847 | 76,666 | |
| Disposals | - | (7,210) | (7,210) | |
| At 28 February 2023 | 645,214 | 92,785 | 737,999 | |
| Net book value | ||||
| At 28 February 2023 | 806,933 | 85,220 | 892,152 | |
| At28February2022 | 633,766 | 79,3559 | 713,121 |
17
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continuea)
Year ended 28 February 2023
| 12. | Fixed | assets - Investments | ||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Investment | in subsidiary | |||
| Shares | atcost | 100 | 100 |
At 28 February 2023 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 | ||
| 2023 | 2022 | 2023 | 2022 | ||
| £ | ra | £ | £ | ||
| Stock for resale | 6,305 | 6,501 | - | - | |
| 14. | Debtors | ||||
| Group | Group | Charity | Charity | ||
| 2023 | 2022 | 2023 | 2022 | ||
| £ | £ | £ | E | ||
| Amount due from subsidiary | - | - | 50,072 | 65,116 | |
| Trade debtors | 8,301 | 8,069 | 7,181 | 6,907 | |
| Other debtors | 22,620 | 22,620 | 22,620 | 22,620 | |
| Prepayments | 11,668 | 7,383 | 11,668 | 7,383 | |
| 42,589 | 38,073 | 91,541 | 102,026 | ||
| 15. | Creditors: amounts falling due within one year | ||||
| Group | Group | Charity | Charity | ||
| 2023 | 2022 | 2023 | 2022 | ||
| £ | £ | £ | £ | ||
| Bank loans and overdrafts (unsecured) | 9,829 | 9,586 | 9,829 | 9,586 | |
| Trade creditors | 28,732 | 12,845 | 16,591 | 4,916 | |
| Other taxes and social security costs | 9,514 | 8,839 | 5,522 | 6,253 | |
| Other creditors | 15,186 | 12,276 | 17,104 | 12,276 | |
| Accruals and deferred income | 1,282 | 1,858 | 556 | 1,165 | |
| 64,542 | 45,404 | 49,601 | 34,196 |
a
=.
18
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued) Year ended 28 February 2023
16. Creditors: amounts falling due after more than one year
| Group | Group | Charity | Charity | |||
|---|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |||
| £ | £ | = | £ | |||
| Bank loans (unsecured) | 27,442 | 37,271 | 27,442 | 37,271 | ||
| 27,442 | 37,271 | 27,442 | 37,271 | |||
| 17. Analysis of charitable funds |
||||||
| At March |
Income | Expend- iture |
Transfer | At28 February |
||
| 2022 | 2023 | |||||
| if | £ | £ | £ | £ | ||
| Unrestricted funds: | ||||||
| General funds | 245,905 | 561,443 | (569,649) | (9,600) | 228,098 | |
| Designated property sinking fund | 71,239 | - | - | 9,600 | 80,839 | |
| Designated formaintenance | 10,234 | - | - | - | 10,234 | |
| Designated for boilerfund | 24,000 | - | - | - | 24,000 | |
| Restricted funds: | ||||||
| Capital projects Restricted forGP Referrals |
586,870 6,340 |
171,384 - |
(60,067) (4,883) |
- - |
698,187 1,458 |
|
| 944,588 | 732,827 | (634,599) | - | 1,042,816 | ||
| 18. Analysis of netassets byfund |
||||||
| Fixed assets |
Netcurrent assets/ |
Long-term Liabilities |
‘etrones | |||
| (liabilities) | ||||||
| £ | £ | £ | £ | |||
| Unrestricted funds: | ||||||
| General funds | 222,237 | 33,305 | (27,442) | 228,099 | ||
| Designated property sinking fund | - | 80,839 | - | 80,839 | ||
| Designated for maintenance | - | 10,234 | - | 10,234 | ||
| Designated for boiler fund | - | 24,000 | - | 24,000 | ||
| Restricted funds: | ||||||
| Capital projects | ||||||
| 692,820 | 5,367 | - | 698,187 | |||
| Restricted forGP Referrals | . | - | 1,458 | - | 1,458 | |
| 915,057 | 155,202 | (27,442) | 1,042,816 |
19
Debenham Village Hall and Playing Field Trust
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 28 February 2023
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 2023 were:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Financial assets measured at amortised cost | ||
| Trade debtors | 8,301 | 30,689 |
| Other debtor transactions | 34,288 | 7,383 |
| Cash | 170,850 | 250,346 |
| 213,439 | 288,419 | |
| Financial liabilities measured at amortised cost | ||
| Trade creditors | 28,732 | 12,845 |
| Bank and other loans | 37,271 | 46,857 |
| Other creditor transactions | 25,982 | 14,133 |
| 91,984 | 73,836 |
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