OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← Shiraz Mirza Community Hall Trust

2024-03-31-accounts

Charity registration number 1107788

Company registration number 4844315 (England and Wales)

SHIRAZ MIRZA COMMUNITY HALL TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

SHIRAZ MIRZA COMMUNITY HALL TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr. S H Mirza
Mr. J Mumford
Mr. A Akhlaque
Mrs N S Alarab
Mr. L E Bentall
Ms T Butt
Mr. I Dobie
Dr J B Farmer
Ms K Greening (Appointed 1 July 2023)
Mrs J S Ireton
Secretary Mr. J Mumford
Charity number 1107788
Company number 4844315
Registered office Manor Park Hall
316-B Malden Road
New Malden
Surrey
KT3 6AU
Independent examiner Hardy & Company
Chartered Accountants
860-862 Garratt Lane
London
SW17 0NB

SHIRAZ MIRZA COMMUNITY HALL TRUST

CONTENTS

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

SHIRAZ MIRZA COMMUNITY HALL TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in notes 1 to the financial statements and comply with the SMCH's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

History of the Shiraz Mirza Community Hall Trust

Councillor Shiraz Mirza founded the Trust in 2003. Twice Mayor of the Royal Borough of Kingston upon Thames and later also Deputy Mayor, Councillor Mirza had recognised a need to provide Kingston with affordable venues for use by all communities and groups within the Borough.

It was also Shiraz Mirza’s wish to provide a new facility that would develop into a multi-cultural hub for the Royal Borough’s residents, encompassing all community and voluntary groups, while providing an attractive, affordable venue, offering excellent modern facilities. A conference was held at Kingston University early in 2003, well attended by local voluntary and support organisations. The conference agreed that a new multi-cultural venue, able to enhance and assist the growing voluntary sector, with a capacity to further develop community cohesion, was a clear and urgent need.

A suitable site was identified near Norbiton railway station, the property being the former YMCA meeting hall. In the early summer of 2003, Shiraz Mirza approached local professionals who could contribute their experience and expertise. This group were then invited to become Directors/Trustees of the new, ‘Shiraz Mirza Community Hall Trust’. A very industrious search for sponsorship amongst the Kingston community proved very successful. Kingston Council gave further invaluable assistance in progressing the proposed site, and a sub-lease was taken out on the property. Very comprehensive regeneration work was carried out on the Norbiton site and in October 2003, it was formally opened by Mayor of London, Ken Livingston.

Following its opening, the Shiraz Mirza Community Hall in Norbiton met all its projected and planned objectives. Supported by enthusiastic editorials in Kingston’s local newspapers, public awareness of the new community hall grew rapidly. This greatly assisted its high utilisation across a highly diverse range of users. At this time the Mayors of other London and Surrey Boroughs, and the leaders of London community groups also formally visited the hall and witnessed what had been achieved. Unfortunately, the sub-lease for Norbiton Hall was not extended and came to an end in May-2020 and therefore Norbiton Hall is no longer part of the Shiraz Mirza Community Hall Trust.

However, due to the success of the Shiraz Mirza Trust Manor Park Hall , situated in New Malden, this much larger facility, which was formally opened by Mayor of London, Boris Johnson, in November 2009 has now become the most popular venue for our hirers.

Manor Hall Update

A revised Lease has been received from Kingston Council for Manor Park, which has met most of our requests to them. The lease has been extended to 20 years with a £5k annual rent. There is a 10-year break clause with a review every 5 years index linked to CPI. The council has also requested that the trust fund the percentage of the maintenance costs of the footpath and road providing the access to the hall. The access needs to be brought up to a satisfactory standard first as parts of it are in poor condition. This is still under consideration.

The Chairman and trustees met with Andreas Kirsh (Leader of the Royal Borough of Kingston Upon Thames) to try and have the new lease covered by the security of tenure provisions of the Landlord and Tennant Act 1954.This has yet to be agreed with the council as our original lease did not have this protection and it was important that we do not prejudice the completion of the lease.

Priority works to refurbish Manor Hall are also work in progress and we are seeking the appointment of a supplier after quotations.

SHIRAZ MIRZA COMMUNITY HALL TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Objectives and activities

The objectives of the Trust, as set out in the Memorandum and Articles of Association, are: -

Hiring Agreement

Use of the community halls is subject to a Hiring Agreement which must be signed by the hirer when booking. The hiring agreement sets out the conditions of hire and identifies the respective responsibilities of each party to the agreement.

The Charity’s principal source of funding is the charges it levies for the use of the community Centre at Manor Park, augmented by local authority grants and public donations from individuals and organisations.

Risk Assessment and Management

The Management Committee recognises that it is under a legal obligation to protect the building, financial and other risks, its users, and employees through adequate and appropriate insurance. The community hall is insured with respect to property damage (buildings insurance). It is insured with the same company with respect to contents, public liability and employers’ liability.

The charity’s Trustees have conducted a review of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the charity might face.

Achievements and performance

The charity increased its income from the hire of the hall facilities from £53,039 in 2021-22 to £76,514 in 2022-23. This is an increase of 44%. The demand for Manor Hall continues to rise and will be increased by the planned renovations.

An Internet booking service is ongoing and available. The Trust website was previously enhanced, including the YouTube clip of Mayor Boris Johnson’s favourable comments. The Trust office is manned regularly with administrative tasks being undertaken by Mr Jim Maclellan.

At meetings of the Trust, the maintenance, security, and safety of the property is discussed in detail and acted upon. Trustees recognise that the appearance of the property has had a beneficial effect of its repeat usage, and any dilapidations are acted upon quickly.

Public Benefit

The Trustees have had regard to the Charity Commission’s guidance on public benefit and consider that the extensive use of the hall by The Borough’s residents, community, and voluntary groups for social, training and business activities is of considerable benefit to the wider community and meets the charity’s aims and objectives.

SHIRAZ MIRZA COMMUNITY HALL TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Financial review

Hire of the Manor Park Hall was popular and now accounts for all of the incoming resources. Overall income and expenditure was as follows:

2016 2017 2018 2019 2020 2021 2022 2023
Total Income £99,614 £98,578 £97,607 £90,446 £87,864 £25,700 £53,039 £76,514
Total Expenditure £73,403 £90,568 £88,852 £99,196 £96,521 £39,977 £56,520 £43,591
Surplus/(Deficit) 26,211 8,010 8,755 -8,750 -8,657 -11,277 -3,481 32,923

Reserves

The reserves, which represent cumulative operating surplus, amounted to £247,705 (including designated funds) at the balance sheet date. This is represented by cash balances of £252,364 and other net liabilities of £4,659. It is considered necessary to hold reserves of at least £80,000 to cover both increasing maintenance costs due to greater use and future unexpected maintenance of the Manor Hall.

Plans for Future Periods

The skills of the trustees is seen as a positive opportunity to further enhance the quality of the community hall. Further development of the hall will offer considerable usage and financial potential.

The Trust has been expanding its support of borough's residents through the setting up of a charitable activity, “Kingston Matters”. The Trust set aside £10,000 in 2015/16 as a designated fund of the Trust. The scheme relied on donations of materials and time for free or at cost price from the local companies to complete DIY projects in the homes of people in need. The initial contacts have been through the council and voluntary groups who were in partnership, and with their recommendations to help this worthy cause. The Kingston Matters sub group ( June Ireton, Tahira Butt, Houda Al-Sharifi, Shiraz Mirza) headed by June Ireton drafted a discussion paper for the trustees that incorporated ideas on how we might organise small donations. The theme that emerged was “Youth awards”. The trustees agreed on the youth theme for the first year.

In addition to the initial £10,000 set aside by the Trust, Kingston Matters had received £3,004 from external donors. By 31 March 2018, £6,098 had been distributed and in 2019-20 £2,604 was distributed. The amount of £4,303 is still available to support future projects.

Structure, governance and management

The Trust is a charitable company limited by guarantee, incorporated on 24 July 2003 and registered as a charity on 25 January 2005. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, Trustees are required to contribute an amount not exceeding £1.

SHIRAZ MIRZA COMMUNITY HALL TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr. S H Mirza Mr. J Mumford Mr. A Akhlaque Mrs N S Alarab Mr. L E Bentall Ms T Butt Mr. I Dobie Dr J B Farmer Ms K Greening (Appointed 1 July 2023) Mrs J S Ireton

Recruitment and appointment of trustees

Recruitment and appointment of Trustees is confirmed at the Trust's Annual General Meeting.

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The Trustees report was approved by the Board of Trustees.

Mr. J Mumford Vice Chair & Secretary

30 January 2024

SHIRAZ MIRZA COMMUNITY HALL TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF SHIRAZ MIRZA COMMUNITY HALL TRUST

I report to the Trustees on my examination of the financial statements of Shiraz Mirza Community Hall Trust (the SMCH) for the year ended 31 March 2023.

Responsibilities and basis of report

As the Trustees of the SMCH (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 SMCH are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the SMCH’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Rehan Shah Khan

Hardy & Company Chartered Accountants 860-862 Garratt Lane London SW17 0NB

Dated: 30 January 2024

SHIRAZ MIRZA COMMUNITY HALL TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
3
1,969
-
Charitable activities
4
74,545
-
Total income
76,514
-
Charitable activities
5
43,591
-
Net income/(expenditure) and
movement in funds
32,923
-
Reconciliation of funds:
Fund balances at 1 April 2022
210,480
4,302
Fund balances at 31 March
2023
243,403
4,302		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
1,969
606
-
74,545
52,433
-
76,514
53,039
-
43,591
56,520
-
32,923
(3,481)
-
214,782
213,961
4,302
247,705
210,480
4,302		 Total
2022
£
606
52,433
53,039
56,520
(3,481)
218,263
214,782

Restricted funds represent Kingston Matters which was set up in July 2015 as a Designated Fund to support those in need in the Borough.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

SHIRAZ MIRZA COMMUNITY HALL TRUST

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within
one year
11
Net current assets
Total assets less current liabilities
The funds of the SMCH
Designated funds
12
Unrestricted funds		 2023
£
813
252,364
253,177
5,596		 £
124
247,581
247,705
4,302
243,403
247,705		 2022
£
5,115
208,918
214,033
4,496		 £
5,245
209,537
214,782
4,302
210,480
214,782

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

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

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.

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 Trustees on 30 January 2024

Mr. J Mumford Vice Chair & Secretary

Company registration number 4844315 (England and Wales)

SHIRAZ MIRZA COMMUNITY HALL TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Shiraz Mirza Community Hall Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Manor Park Hall, 316-B Malden Road, New Malden, Surrey, KT3 6AU.

1.1 Accounting convention

The financial statements have been prepared in accordance with the SMCH's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The SMCH is a Public Benefit Entity as defined by FRS 102.

The SMCH has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the SMCH. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the SMCH has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the SMCH.

1.4 Income

Income is recognised when the SMCH is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the SMCH has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the SMCH has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

SHIRAZ MIRZA COMMUNITY HALL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings Over the period of lease Computers Over three years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the SMCH reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The SMCH has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the SMCH's balance sheet when the SMCH becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

SHIRAZ MIRZA COMMUNITY HALL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the SMCH’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the SMCH is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the SMCH’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 1,969 606

SHIRAZ MIRZA COMMUNITY HALL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

4 Income from charitable activities

Unrestricted
Unrestricted
funds funds
2023 2022
£ £
Charitable activities 74,545 52,433
Analysis by fund
Unrestricted funds - general 74,545 52,433

5 Expenditure on charitable activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Direct costs
Administration expenses 12,651 10,245
Cleaning & materials 5,797 5,940
Rates & water 1,490 1,119
Light & heating 1,909 4,155
Premises maintenance 6,440 11,940
Miscellaneous purchases - 4,964
Telephone & computer 2,364 2,861
Insurance 989 1,256
Security - 5,287
Depreciation 5,121 5,128
Governance costs 1,200 960
Promotions 5,630 2,665
43,591 56,520
Analysis by fund
Unrestricted funds - general 43,591 56,520

6 Trustees

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

7 Employees

The trust had no employee during the current or previous year.

SHIRAZ MIRZA COMMUNITY HALL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

8 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

9 Tangible fixed assets

Leasehold
land and
buildings
Computers
£
£
Cost
At 1 April 2022
70,903
1,452
At 31 March 2023
70,903
1,452
Depreciation and impairment
At 1 April 2022
65,845
1,265
Depreciation charged in the year
5,058
63
At 31 March 2023
70,903
1,328
Carrying amount
At 31 March 2023
-
124
At 31 March 2022
5,058
187
10
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
1
Other debtors
812
813		 Total
£
72,355
72,355
67,110
5,121
72,231
124
5,245
2022
£
-
5,115
5,115

11 Creditors: amounts falling due within one year

Payments received on account
Trade creditors
Accruals and deferred income		 2023
£
-
3,436
2,160
5,596		 2022
£
100
3,436
960
4,496

SHIRAZ MIRZA COMMUNITY HALL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

12 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April At 31 March
2022 2023
£ £
Designated funds 4,302 4,302
Previous year: At 1 April At 31 March
2021 2022
£ £
Designated funds 4,302 4,302

13 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April At 1 April Incoming Resources At 31 March At 31 March
2022 resources expended 2023
£ £ £ £
Unrestricted funds 210,480 76,514 (43,591) 243,403
Previous year: At 1 April Incoming Resources At 31 March
2021 resources expended 2022
£ £ £ £
Unrestricted funds 213,961 53,039 (56,520) 210,480
Analysis of net assets between funds
Unrestricted Designated Total
funds funds
2023 2023 2023
£ £ £
Fund balances at 31 March 2023 are represented by:
Tangible assets 124 - 124
Current assets/(liabilities) 243,279 4,302 247,581
243,403 4,302 247,705

14 Analysis of net assets between funds

SHIRAZ MIRZA COMMUNITY HALL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

14 Analysis of net assets between funds

Analysis of net assets between funds (Continued)
Unrestricted Designated Total
funds funds
2022 2022 2022
£ £ £
Fund balances at 31 March 2022 are represented by:
Tangible assets 5,245 - 5,245
Current assets/(liabilities) 205,235 4,302 209,537
210,480 4,302 214,782

15 Events after the reporting date

After the balance sheet date, the trust entered into a new 20 years lease with the Royal Borough of Kingston Upon Thames at an initial annual rental of £5,000 per annum.

16 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).