COMPANY REGISTRATION NUMBER: 05485932 CHARITY REGISTRATION NUMBER: 1112980 Holsworthy Memorial Hall Limited Company Limited by Guarantee Unaudited Financial Statements 30 June 2024 CPH Accountin Eden Park Brandis Comer Holsworthy Devon EX22 7XZ Ltd
Holsworthy Memorial Hall Limited Company Limited by Guarantee Financial Statements Year ended 30 June 2024 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financlal position Notes to the financial statements
Holsworthy Memorlal Hall Llmlted Company Llmlted by Guarantee Trustees. Annual Report (Incorporatlng th• Dlractorfs Report) Year ended 30 June 2024 The tru8tees, who are also the director8 for the purposes of company law, present their report and the unaudlted financlal ststem8nts of the charity for the year ended 30 June 2024. Roforoneo and admlnl8tratlv8 d•tsiis Reglst•red charlty name Holsworthy Memorial Hall Limlted Charlty reglstratlon numbor 1112980 Company rngl•tratlon number 05485932 Prlnclpal offlce and r•g18t•r•d North Road offlce Holsworthy Devon EX22 6EB The trustees J Addlcott J Hutchlngs L E Emmett N J Kenneally Structur•, gov•rnanco and manag•ment The org8nisation ig a charrtab18 company Ilmlted by gu8r8ntee, Incorporated on 21 June 2005 havlng been registered as a charity on 31 August 1962. The charlty was established under a Memorandum of AJ3oGiation whiGh eotabll8h¢d tho objects and power8 of the ¢haritable company and is governed under its Artlcles of Associatlon. In the event of the company being wound up, members are required to contribute £10. ObJoCtlv•• and actlvltles The Ghartty was 88tsbllshed In order to malntaln, repalr and secure the oparatlon of Holsworthy Memorlal Hall. The hall requlred substantial rebuildlng and renovatlon work In order to ensure that it was flt to serve the resldents of Holsworthy and surroundlng dlstrlct, in the twenty flrst century.
Holsworthy Memorial Hall Limited Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Dlrector's Report) (contlnuod) Year ended 30 June 2024 The trustees have faced another challenging year. The discussions with TDC regarding the incorrect registration of the Hall with the Land Registry are ongoing and costly. It is hoped that the issue will be concluded satisfactorily in the next financial year, The current trustees are elected trustees as per CC Scheme. There are currently no representative trustees as no nominations have been received. The constitution will be reviewed in the upcoming year In consultation with the representative organisations. The charity's trustees are not paid and no remuneration or other benefits from employment with the charity or related entity were received by the trustee's charity in the current or the previous year, The bar Is operated under a lease agreement. There is an order in place, issued by the Charity Commission which authorises the disposal of charity land (the Bar Area of the Hall) in the form of a lease to a connected person. as defined in section 118 of the Charities Act 2011, it being in the inter88ts of the charity to do so. The provision of alcohol in the Hall will be reviewed in 2025. Resorves pollcy The Trustees are satisfied that the level of reserves, as shown on the balance sheet, Is ad6quate to cover known and anticipated costs in the short term. Rlsk management The Trustees have assessed the major risks to whlch the charlty Is exposed, In particular those related to the operations and finances of Ihe charity and are satisfied that systems are in place to mitigate their exposure to major risks, Publlc beneflt In planning our activities for th8 year, we have kept in mind the Charity Commission guidance on public benefit. Flnanclal revlew Total incoming resources during the year were £55.185 of which £23,600 was grant income (2023., £48,494). Resources expended In the same period totalled £41,367 (2023.. £61,032 At 30 June 2024 the charity held total funds of £614,150 of which £489,483 were restricted funds received for the building and refurbishment of the hall, Small company prov181on8 This report has been prepared in accordance with the provislons applicable to companies entitled to the small companies, exemption. The trustees, annual report was approved on 3151 Janu8ry 2025 and slgned on behalf of the board of trustees by.. J Hutchings Trustee N J Kenneally Trust
Holsworthy Memorlal Hall Llmited Company Llmlted by Guarantee Independent Examlnerfs Report to the Trustees of Holsworthy Memorlal Hall Llmltod Year ended 30 June 2024 I report to the trustees on my examlnatlon of the financial statements of Holsworthy Memorial Hall Llmited ('the charlty,) lor the year end8d 30 June 2024. The full financlal statements can be found on P8gés 7- 15 of this document. Respon8lbllltles and ba818 of report A8 th8 trust8es of the company (and also Its director8 for the purpo8es of company law) you are responsible for the preparation of the flnancial statements In accordance wlth the r8qulrements of the Companles Act 2006 (Yh8 2006 Act,). l am satisfied that the accounts of the company are not requlred to be audlted under Part 16 of the 2006 AGt and ar8 ellglbl8 for Independent examlnation. I report In respect of my 8xamlnatlon of tho charfty's accounts a8 carded out under sectlon 145 of the Charfties Act 2011 ('the 2011 Act,). In carying out my examination I have followad th8 Dlrections given by the Charlty Commlsslon under 88don 145(5)(b) of the 2011 Act. Independent oxamln•r'8 Stat•mont I hwrfe carrled out and completed my ex8mlnatlon of the account8 8nd fin8nc181 statements. I confirm that no matters have come to my attention in connectlon with Ihe examinetlon giving me Gause to believe: accountlng record8 were not kept In respect of the charfty 88 r8qulred by 88Ctlon 386 of the 20Q6 Ad; or the fln8nc181 statements do not accord wlth tho88 records: or the financlal statements do not comply wlth the accountlng requlrements of sectlon 396 of the 2006 Act other than any requlrement that th8 accounts glve 8 'true and falv view which is not a matter consldered as part of an independent examinatlon; or the financlal Statements have not been prep8red In acwrdance wlth the methods and principles of the Statement of Recommended Practice for accounting and reportlng by charities applicable to charitles preparing thelr accounts in accordance wlth the Financial Roportlng standard appllGable In the UK and RepubliG of Ireland {FRS 102). The accounts are well run with approprlate reporting actlon taken for th8 Speclfic Purpose Funds, I have not identlfied any concern8 on the accounts nor are there any issuos that should be raised as an observation. C Parklns
Holsworthy Memorial Hall Limited Company Limited by Guarantee Statement of Flnancial Activities (including income and expenditure account) Year ended 30 June 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Not• Incom8 and endowments Donations and legacies Charitable activities 25,751 29,434 55,185 25,751 29,434 18,883 29,611 48,494 Total Incomo 55,185 Expendlture Expenditure on charitable activities Total expendlture 34,068 7,299 41,387 61,032 34,068 7,299 41,367 61,032 Net Income and not movement In funds 21,117 (7,2991 13,818 (12.792> Roconclllatlon of fund3 Total funds brought forward Total funds carrled forward 103,550 124,667 496,985 600,535 613.327 600,535 489,483 614,150 Th8 statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activitl8S. The notes on pages 7 to 15 forni part of the8e flnanclal statements.
Holsworthy Memorlal Hall Llmlted Company Llmlted by Guarantee Statement of Flnanclal Posltlon 30 June 2024 2024 2023 Noto Flxod a880ts Tangible fixed assets 13 606,227 606,431 Currnnt a88ets Stocks Debtors Cash at bank and in hand 14 15 2,000 115 4,972 7,087 26,219 27,166 Credltorn: amount• falllng du• wlthln on• y•ar 19,243 12.983 Not curr•nt a88•ts 7,923 614,150 814,150 (5.896) 600.535 Totsl a$sots l••$ curr•nt Ilabllltle• Not as8•ts 600,535 Fund8 of the charlty Restrfded funds Unrestrictsd funds 489.483 124.667 498,985 103,550 600.535 Total charlty funds 614,150 For the year endlng 30 June 2024, the charity was entIad to ex8mptlon from audlt under secUon 477 of Ihe Companle8 Act 2006 relatlng to small companies. Dlrector8' responslbllltl•8: The mamber8 have not requlred the company to obtsln an 8udit of its financial statements for tho yaar In question In accordance wlth 8ection 476. Tho dlrector8 ackn¢)wladg8 thelr ra8pon$lbllltl8g for complylng wlth tha requlrements of the Act wlth re6pect to accountlng rocords and the preparatlon of financlal statement8. Th888 financlal ststements have been prepared in accordance wlth the provisions applicable to compan18s subject to th8 small companles, reglme. These financial statements were approved by the board of trustees and aLrthorl8ed for 188ue on 31•1 January 2025 and are signed on behalf of the board by: J Hutchlngs Trustee N J Kenneal Tru Thg not98 on pag917 to 15 fomi part of th•89 financial Statomonts.
Holsworthy Memorial Hall Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 30 June 2024 G•noral Infomiatlon The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in EngSand and Wales. The address of the registered office is North Road, Holsworthy, Devon, EX22 6EB. Statoment of compllan¢a 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 IFRS 102) {¢harities SORP (FRS 102)) and the Companies Act 2006. Accountlng pollclos Basls of preparatlon The financial statements hav8 been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment propertl88 measured at f81r value through income or expenditure. The financial statements are prepared in Sterling, which is the functlonal currency of the entity. Golng concern The Trustees continue to assess the viability of the hall in order to reverse the insolvent net Current liability position. The accounts have currently been drawn up on a going concern basis which may not be appropriate. Dlsclosure exemptlon8 The entity salisfies the crlteria of being a qualifylng antity 8s deflned in FRS 102. As such, advantage has been taken of the followlng disclosure exemptlons available under paragraph 1.12 of FRS 102.. (a) No cash flow statement has been presonted for the company. (b) Disclosures in respect of financial instruments have not been presented. Judgements and key sources of estlmatlon uncertalnty The preparation of the flnanci81 statements requires management to make judgements, estlmates and assumptions Ihat affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under Ihe clrcumstances.
Holsworthy Memorlal Hall Llmlted Company Limlted by Guarantee Notes to the Flnanclal Statements IntInu•d) Yéar ended 30 June 2024 Accountlng pollcle8 {contlnu•d) Fund accountlng Unr8Strlct8d funds ar8 avallabla for use at the dlscretlon of the twstees to further any of the charftys purpose8. Designated funds are unr8strlct6d funds earniarked by the trustees for partlcular future project or commltment. R86tr1cted funds are subjected to restrlctlons on thelr 8xpendltur8 dedared by the donor or through the temis of an appeal and fall Into one of two 8ub-cla88es: restricted income funds or endowment funds. Incomlng resourc•• All Incomlng resources are Included In the siaiement of flnanclal actlvltl88 when 8ntitlement has passed to the charity; it Is probable that the economic benefrts associated wlth the transaction will flow to th8 charlty and the amount can be reliably measured. The followlng speclfic policies are applled to partlcular categorl88 of Income: Incomg from donatlon8 or grants Is recognlsed when there Is evidence of entltlement to the glft, recelpt Is probable, and Its amount can be measured reliably. legacy Income 18 recognised when recelpt is probable, and entitlement is astabllshed. Income from donated goods 18 measured at th8 fair value of the good8 unless thls Is Impractlcal to measure reliably, In whlch case the valu8 Is derlved from the cost to the donor or the estlmated resal8 value. Donated facllltl8s and servlces are recognlsed In the accounts when recelved rf the value can be rellably measured. No amount8 are Included for the contributlon of general volunteers. Incoma from contracts for th8 8upply of servlces Is recognised wlth the d81ivery ol the contracted 68ryice, This 18 da88ified a8 unrestricted funds unless there Is 8 contractual requlrement for it to be spent on 8 partlcular purpose and returned K un8pent, In whlch ca8e It may be regarded as r8Strtcted.
Holsworthy Memorial Hall Limited Company Limited by Guarantee Notes to the Financial Statements (contlnuod) Year ended 30 June 2024 Accountlng pollcles (contlnu•d) Rèsources expended Expenditure is recognised on an accruals basis as 8 liability is incurred. Expendilure 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 raising funds includes the costs of all fundralsing activlties. events. non- charitable trading activities, and the sale of donated g¢)ods, expenditure on charitable activlties includes all c08ts InGurred by a charity In undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support Costs and costs relating to the governance of the charity apportioned to charitabla activities. other expenditure includes all expendlture that is neither related to raislng funds for the charity nor part of it5 expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to 8 single activily are allocated directly to th8t activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and Gonsistent basis. Tanglble assets Tanoible fixed assets ar8 Stated at cost less accumulated depreciation. Depreclatlon 08pr8ciation is provided at rates calculated to write off the cost less resldual value of each asset over its exp8ct6d useful life, as follows.. Land and buildings Equipment Computers No charge 200/0 on net book value 20.10 Stralght Iln8 Ilncluded In equlpment) Land and bulldlngs have not been tjepreclated thls year as the beneflclal ownershlp of the Hall Is currently being invesligated. Until such time as the Trustees can establish the ownership with certainty, this policy wlll continue. Impalrment of flxed assets A review for indicators of impairment Is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impaiments are also reviewed for possible reversal at each reporting date.
Holsworthy Memorial Hall Limlted Company Llmlted by Guarantee Notes to tha Financial Statemènts (oontlnu•d) Year anded 30 June 2024 Accountlng pollcl•$ (contlnu•d) Impalmi•nt of flx•d as••t8 f¢ondnu•d) For the purpose3 of impairment testing, when it is not possible to estimate the recoverable amount of an Individual asset, an 8stlmat8 Is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash.generating unit is the smallest identffji8ble group of assets that includes the asset and gener8t8s cash inf[¢8 that largely independ8nl of the c88h inflows from other a58ets or groups of assets. For impalrment testlng of goodwlll, the goodwill acqulred In a business comblnatlon Is, from the acqulsltlon date, allocated to each of the cash-generatlng unlts that are expected to benefft from the synergies of the combination, irr88pectlve of whether other assets or liabllitles of the charlty are a8slgned to those unlts. Stock8 Stocks are measured at the lower of cost and 8Stlmated Selllng prfc81888 costs to complete and S811. Cost Includes all costs of purchase. costs of converslon 8nd other costs Incurred In bringlng the stock to Its present locatlon and cond5110n. Government grants Government grants are recognised at the falr value of the asset r8C8ived or receivable. Grants are not recognised untll there is reasonable assuranc8 that the charity will comply with the conditions attaching to them and the grants will be recalved. Where the grant does not Impose speclfied future performance-related condltlons on the reclplent, It is recognised In Income when the grant proceeds are r6celved or receivable. Where the grant does Impose specified futuré performance-r8lat8d condition8 on the recipient, it is r8cogni86d in ' Income only when the performance-related condltions have been met. Where grants recelved are prlor to satlsfylng the revenue recognltlon crlterla, they are reGognised as a liabillty. Flnanclal In•trumonts A financial asset or a financlal Ilablllty Is recognlsed only when tha antlty b8com88 a paty to th8 contractual provlslon8 Qf the Instrument. Basic financial instruments are Initially recognised at the amount reGeivable or payable includlng any related transactlon costs, unless the arrangement constitutes a financing trans8Ctlon, where It is recognised at the present V81ue of the future payments dlscounted at a markol rate of Interest for a similar debt Instrument. Current assets and current Ilabllities are subsequently measured 8t the cash or other consideratlon expected to be pald or recelved and not discounted. 10
Holsworthy Memorial Hall Limited Company Limited by Guarantee Notes to the Financial Statements {continu•d) Year ended 30 June 2024 Llmlted by guarantee Holsworthy Memorial Hall Limited is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be requlred not exceeding £10 to the assets of the charitable company in the event of lis being wound up while he or she is a member, or within one year after he or she ceases to be a member. Donatlons and legacles Unrestricted Totsl Funds Unrestricted Total Funds Fund8 2024 Funds 2023 Donatlons Donations 2,151 2,151 6,550 6.550 Grants grant Income 23,600 23,600 12,333 12,333 25.751 25,751 18,883 18.883 Charltable actlvltl68 Unrestricted Total Fund8 Unrestricted Total Funds Funds 2024 Funds 2023 Letting of hall Events 29,434 29,434 29,611 29,611 29,434 29,434 29,611 29,611 Expendlture on charltable actlvltlos by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Charitable activities Support costs 34.068 7,299 41,367 34,068 7,299 41,367 Unrestricted Funds Restrided Totsl Funds Funds 2023 Charitable activities Support costs 43,666 17.620 61,286 43,666 17,620 61,286 11
Holsworthy Memorial Hall Limited Company Llmlted by Guarantee Notes to the Flnancial Statements (contlnu•d) Year ended 30 June 2024 Analysls of charltablo actlvltlos and 8UPPOrt C08ts Analysls of charitable activiti6s Total 2024 Total 2023 Wages Wator rat68 Llght and heat R8palrs and malntenance {r8strlcted) In8urance Telephone and broadband Depreciation (restriGted) Bank charges Loan Interest Sundry expenses Oth8r admlnlstratlve c08ts Gov8rnanc8 Costs 2,838 1,534 14,113 7,299 2.308 300 203 473 2,838 1,534 14,113 7,299 2.308 300 254 473 5,200 1,151 13,882 17,366 1,820 254 138 2.917 9,585 2,917 9,586 8,123 13.553 41,570 61,286 61,286 Not Incom• Net Income Is Ststed after chargingl(credlty'ng)', 2024 2023 D8pr8cl8tlon of tanglbla fixed 8888ts 203 254 10. 8taff c08t8 The average head count of omploye68 during th8 year wa8 1 (2023,, 1). The average number of full-tlme equlvalent employees durlng tho year io analyaed a8 follow8: 2024 No. 2023 No. Number of staff No employee recelved employee beneflts of more than £80,000 durlng the year (2024: NII). 12
Holsworthy Memorial Hall Limited Company Limited by Guarantee Notes to the Financlal Statements (¢ontlnuod) Year ended 30 June 2024 11. Trusteo remuneratlon and expenses No remuneration or other benefits from employment with the charity or a rèlated 8ntity were received by the trustees. No trustee expenses were incurred during the year. 12. Tanglblo flxed assets Freehold propety Equipment Totsl Cost At 1 July 2022 and 30 Juno 2023 Depreclatlon At 1 July 2023 Charge for the year At 30 Juno 2024 673,862 77,698 751,560 68,448 76,681 203 145,129 203 68,448 76,884 145,332 Carrylng amount At 30 Jun• 2024 605,414 814 606,228 At 30 June 2023 605,414 1,017 606,431 13. Stock8 2024 2023 Raw materials and consumables 2,000 14. Debtors 2024 2023 Other debton8 115 15. Credltors: amounts falllng due wlthln one year 2024 2023 Bank108ns and overdrafts Accruals and deferred income Social security and other taxes 15,000 4,243 10,000 2,983 19,243 12,983 13
Holsworthy Memorlal Hall Limited Company Llmlted by Guarantee Notes to the Financial Statements (eontlnu•d) Year ended 30 June 2024 16. Governmgnt grants The amounts recognised in the financial Statements for govemmont grants are as follows: 2024 2023 Recognlsed in Income from donatlons and18gacies: Government grants income 23,600 12,333 17. Analysls of Gharltablo fund8 Unrn•trfctod funds At Income Expendlture 30 Juno 2024 At 1 July 2023 General fund8 103,550 55,185 (34.068) 124.687 At Income Expendlture 30 June 2023 Al 1 July 2022 General funds 98,722 48,494 <43,668) 103,550 R•strlctsd fundg At Income Expendlture 30 Juno 2024 At 1 July 2023 Restrfcted Fund 496,985 (7,502) 489,483 At Income Expenditure 30 June 2023 At 1July 2022 Restrlcted Fund 514,605 (17,620) 496,985 Restrictèd funds are for the bullding and refurtjishmenl of the hall. 14
Holsworthy Memorial Hall Limited Company Limited by Guarantee Notes to the Flnancial Statements (contlnued) Year ended 30 June 2024 18. Analysls of net assets between funds Unrestrlcted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year 92,826 27,166 (19,243) 489,483 582.309 27,166 (19,243) Net assets 100,749 489,483 590,232 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Currenl assets Creditors less than 1 year 98,722 7,087 (12.983) 496,985 595,707 7,087 {12,983) Net assets 92,826 496,985 589,811 19. Related partles There were no related party transactions during the year. 15