Reglstered number: 05585617 Charlty number: 1113075 WEM TOWN HALL COMMUNITY TRUST UNAUDifED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 WR Partners Protecting your future.
. WEM TOWN HALL COMMUNffY TRUST (A Company Llmlted by Guarantee) CONTENTS Page Rèference and Adminislrative Details of the Charitable Company, its Trustees and Advlsers Chaimian's Statement Trustees. Report Independent Examlnerfs Report statement of Financial Activities 3-11 12-13 14 Balance Sheet 15-16 Notes to the Financlal Slatements 17-28
WEM TOWN HALL COMMUNITY TRUST (A Company Llmlted by Guaranteel REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARrrABLE COMPANY, rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustèes Mrs S E AnguraWshaW Mr A Brown Mrs P A Dee BEM Mr J W Dinsdale. Chairfrom 21 November 2023 Mr N H Edwards (appointed 21 March 2024) Mr P R Jones. Vice Chair Mrs E A Mayer Mr R A Reeves {resigned 22 October 2024) Mr G M Soul, (Fonnal representation of Wem Town Council) Mr R D Stokes (resigned 21 November 2023) Company registered number 05585617 Charlty reglstered number 1113075 R8glst8red office Wem Town Hall 28-32 High Street Wem Shropshire SY4 5DG Company secretary Mrs R A Homer Managoment and Admlnlstratlve Team Mrs R A Homer, Director Mrs P J lQng, General Manager Mr J Salmon, Events Officer. Appointed 23 November 2023 Accountants WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Bankers Barclays 4446 Castle Street Shrawsbury Shropshire SY12BU Page 1
WEM TOWN HALL COMMUNITY TrUST (A Company Limited by Guardntee) CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 The chaiman presents his statement for th8 year. 2023-2024 has on¢£ again proved to be a dtfficult year for Ihe Charity. The continuing impact of the Covid Pandemic and the general cost of living crisis has meant attendance figure5 at all event5 have not recovered to pre Covid19 levels. The prolonged industrial dispute in the entertainment industry has resulted in a shortage of films from film distributors which in tum has impacted throughout the financial year with film release dates changing, sometimes at very short noti(*. The increase in home entertainment platforms, such as Neffiix. has fvrther irnpacted on our visitor numbers as more and more people opt to stay at home and watch the new films as they are released. staffing issues continue to be problematic, our effcwts to find a part-time events officer and additional cafe staff have prov6d more difficult than antiopated. However, in November, we were able to appoint Jeff Salmon a5 Events OffiGer. The Gafe continues to struggle with recfuilfflent of staff, which has hIghghted nationally as a h05Pitality industry wide issue. The Cafe. which is a wholly owned subsidiary of the Trust has cJ)ntinued to do well, providing a wam friendly meeting place for the local residents and any visitors to the Town. In June 2023 as a resuti of our increased turnover, the Café became registered for VAT, which in tum lead to an increase in cafe prices to recoup some of our lost profit. The Meals on Wheels service, Tun and fftanaged by the Cafe is Gontinuing to provide a number of local residents with a hot meal and sweet on two days of the week deStvared to their home by a loyal group of volunteers. In response to recommendations from an independent fijnd raising strategy repor( Gommissioned by the Trust. work has commencad on building a new website. updating our 8usiness Friends Membership Scheme and looknng at the possibility of introducing a Business Sponsorship Scheme in an attempt to attract more business interest into1he Town Hall. We continue to enjoy a good relationship with Wem Town Council through their financial suprx)rt and regular contact. During the year extensive negotiations were carried out to see if we could accommodate the Town Council, offices and meeting rooms wthin our premiges, however, due to logistlcal issues, we were not able to arrive at an agreed solution. After discussions with Wem Town Council, it has been agreed that the Town Council would take over the running of the outside market stalls and w8 would maintain th8 running of the indoor market stalls and together we would work t¢Jwards a more unrfon marketing strategy. Wem Town Hall would update the Towns market website and purchase new branding for the stall holders in an effort to improve foottall into the Town Hall and the town shops in general. Throughout the year we have been running the W.E.M, Where Everyone Matters project, fund8d by fhe National Lottery Community Fund, this project has been a three year project, focusing on people living wtih Damentia and their carers. The project has enabled us to have Dementia friendty singing sessions. show Dementia Friendly Film showings and provide a warm friendly supportive environment where people living wth Dementia and their carers can feel welcome. Wem Town Hall continues to grow as a community venue thanks to the efforts of the managernent team, led by Ihe Wem Town Hall Director and General Manager, and the team of dedicated volunteer5 who all give Ihgir 'me and effort to help the Town Hall survivg in these challenging times. Joh Dinsdale irofw n Hall Community Trust Date.. ,/,./zf Pagg 2
. WEM TOWN HALL COMMUNrrY TRUST (A Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustee5 present their annual report together with the fi nancial statements of the Charilable Company for the year 1 April 2023 to 31 March 2024. The Annual Report serves the purposes of both a Trustees. report and a directors, report under company law. Th8 Trustees confirm that Ihe Annual Report and financial statements of the charitable company compty with the current statutory requirements. the requirements of the charitable companys goveming document and the provisions of the Stalement of Recommended Practice ISORP) applicable to charities preparing their accounts in acccjrdance with the Financial Reporting Standard applicable in the UK and Republic of Ir81and (FRS102) (effecttve 1 January 2019). Since the Charitable Company qualrfles as small under section 382 of the Companie5 Act 2006, the Strategic Report required of medium and large mpanIeS under the Companies Act 20C6 (Strategic Retk)rt and Directors, Report) Regulations 2013 has been omitted. The organisation is a charitable company limited by guarantee, inmrporated on 6th October 2005 (amended by special resolution on 10th December 2007) and registered as a charity on 24th February 2006. The company was established under a Memorandum which estsblishes the objects arKI power5 of the charitable company, and it is governed under its Articles of Association. The trust adopted a new set of Articles of Association more suitable for ils current operatron which were formally adopted on 19th March 2015 and have b8en registered wth Companies House and The Charities Commission Register. On 27th November 2019. a special resolution with amendrnents to the articles of assooation was pass and adopted. This was registered with Companies House and The Charities Commission. In th8 8V8nt of thé company being wound up members are requir8d to contribute an amount not exceeding £10. Objectivos and activities a. Policies and objectives The Charity's purposes as set out in the objects contained in the companls Articles of Association are to.. provide facilities for the benefit of the inhabitants of the town of Wem and the sumunding area in relation to (i) the advancement of the education of the public in the arts (li) Ihe advancement of education and training generally and (iii) recreation or other leisure time occupation in the inlerest of sooal welfare with the object of improving the conditions of life for the public at large. To deliver on our purposes and aims wfHCT facilitates social enlerprise, community empowoTmont and community cohesion through an accessible, user-friendly, and high-quality venue and programme. Our main areas of activity comprise of an inclusive arts programme which includes music, theatre, dancg, cinema. exhibilions. and wotkshops and hiring out our premises and servlces for meetings, fvndraising evenings, exercrse dasses and celebrations, amongst other recreation and leisure activities. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charlty Commission relating to public benefit, inckjding the guidance 'Public b8nefit'. running a charity IPB2)'. Page 3
. WEM TOWN HALL COMMUNrrY TRUST (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objectives and activities {continued) b. Main activities undertaken to further the Charitable Companys purposes for the public benefit How our activities deliver public benefft: Through a partn8rship pr(hJramme of arls development Wem Town Hall enhances the creative capacity of th8 wid8r community by presenting a broad rang8 of arts events for enjoyment and education and providing opporlunities to brate and profllote local distindiveness. We provide facilities that no other venue can offer for Ihe Inhabitants of Wem and the surrounding areas. We have a charging policy which includes a community and service to communty discounted hire rate to make sure our facilities are affordable to the public. The broad offer of leisure activities. many with dis(Unted rates promotes greater inclusion, improving Ihe life of the inhabitants of Wem and the surrounding areas. Through projects and partnership VrkIng Wem Town Hall prioritises activities that promote community wellbeing and cohesion. For the next year, the focus will remain onloneliness and support for families in the SEND community. c. Volunteers On 31st March 2024 Wem Town Hall's volunteer team numbered 55 who supported the Charity by Vonteering more than 145 hours per week. In pure monetary temis the value of vdunteér support is more than £90,000 per year. Volunteers participale in all areas of the charty's delivery, and wtthout their time and dedication Wem Town Hall would not be the venue tt is today. Potential volunteers discuss the rok that is most interesting to them and attend a taster session to see if they like the role and would like to continue. A volunteer handbook sets out our policies and procedures and training is given applicab to the rol8 they will be undertaking. Volunteers are briefed before each task arKI thanked for their contributions so they understand Ihe important part they play in the success of the Charity. A volunteer recruttment fair was held on the 24 October 2023 where local groups seeking vdunteers were hosted at Wem Town Hall to showcase their opportunities. A volunteer social evenl was held in December 2023 at which the trust fomially thanked volunteers for their supporl. Social events help volunteers to meet each other and generally enjoy their experien$ more which contributes to volunteer rttention and the Charity will look to introduce more opportunities for voluntears to meet and sodalise over th8 next year. Page 4
WEM TOWN HALL COMMUNftY TRUST (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance a. Review of activitles The 2023124 Financial Year continued to be a challenging operating environment for the Charity. Arts Programme The Wem Town Hall arts programme seeks to establish a bnjad programme of highqualfty arts activlties and events Ilheatre, music. dance, film, satellite broadcasts. visual arts, and crafts exhibitions, etc.) for the benefit of local people and visitors to the area. 249 Arts Events took place through the financial year. a slight decrease from 261 events delivered in 202212023. Despiie less events delivered: the Arts Programme tumover increased by £1000 compared lo 22123., but this was disappointing to the Charity a5 the retum lo the levels of ncome achieved before the covid 19 pandemic have not yet been realised. In part this has bn affected by cinema industy issues which included a vrriters and actors strike. The Strikes lasted nearly five months in the financial year which affected release dates of filrns already made, caused a lack of promotion of titles and Stop production of new content which impact&J content availability and marketing reath for our own operations. Highlights of the Arts Programme induded the Musictrheatre hybrid performance of Litt18 Bulb Theatre's °Mountain Music., Community SingiThJ Sessions for People Living with dementia and a 'connections' film season which highlighted five friendships and unexpecaed connections that changed the oJurs8 of kves. "Thls was a hugely enjoyable and Innovatlve even¢ which rdlses one's splrlt and leavos a smile on ones face. Sup•rbl" Audience feedback at Mountain Music a hybrid theatre and musbc ev8nt. "Thoroughly enjoyad It, thank you. Nlce to have some culturn come to me instead of me having to go far afield" Audience Comment at Exhibition on Screen event "I come to the films on my own but l am always assured of a wamy welcome and now I know people who also come regularfy that I didn't know before, WTH Is a fabulous venue" Audience feedback at WTH Film Hires The room hire demand increased slightty over the previous financial year to 546 hires attained, coming closer lo the last pre-pandemic level of 600 hires seen at the end of March 2020. Hires covered a broad range including exercise classes, training, celebrations, parties, business meetings and )Mmunity support sessions. Projects Where Everyone Matters Project Funded by the National Lottery Community Fund, W.E.M - Where Everyone Matters is a three-year community project focusing on loneliness and people living with Dementia. The project creates opportunities for those living with dementia and their carers to take part in activities together in a wekoming and supportive environment. Dementia Friendly Film showngs specffically help people to reconnect with memories and others in a safe and supportive environment. The seating of the films are set up in a cabaret stybe lo allow peopl8 to sit more SOablY and informally, th8re is always an interval with refreshments and our volunteers speak to all the people attending enctjuraging sharing of mernories triggered by the film. Page 5
WEM TOWN HALL COMMUNITY TRUST {A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 AGhlevements and performance (continued) Damentia Friendty singing sessions involve song leader Eve who plays a variety of popular tunos which the participants Can join in with or just enjoy the music. Besides engaging the brain and stimulating emotions. being part of an audience enjoying a film or music helps people with domentk8 and togeth@r with their carers to feel less isolated and challenges the stigma associated the conditson. The project's Midterm evaluatlon conducted by R4C concluded Ihat Wem Town Hall: "has bewme a thrNing hub where people affected by dementia, isolation and loneliness can go to gain support, company and friendship." The project funded by NLCF will end in August 2024. "Because of the dempntla, we have been cut off from society to a good degree and places we used to go . people dont Undetand the unusual behaviour. We arnive in our 80& and leave in our 40.sl My husband has lost most of his vocabulary but responds tremendously to the music. He interacts wlth others and is very outgoing and bècomes the happy soul he always used to be." Dementia Friendly Community Singing Participant Meals on Wheels Proje Since October 2020 Wem Town Hall has provided a Meals on Wheels delivery service supplying hot meals on Mondays and Fridays at a reasonable cAJ5t to those in need wrthin the local community. In the 23124 financial year the Charity was grateful to The Barber Trust and Wem NFU for dedicated equipment which has enabled us to irnprove Ihe meals on wheels service and operation. 40-50 meals are delivered ev8ry Week by a team of friendly volunteer drivers. "Great value for money. I look forward to Fridays and Mondays and a visit from the fi7endly volunteers who dellver." PD, Meals on Wheels reclplent Wem Sw•et Péa Show In 2021 W8m Town Hall and the Eckford Sweet Pea Society joined togeth8r to re4stablish the Wem Sweet Pea Show which ¢elebrates Wem's heritage a5 the home of the sweet pea. Information talks have been introduced so more local people can leam about how to grow and how to stage sw8et Feas for the show and another member of the sociéty goes out to give talks to bcal and regional Wl's and gardening clubs to promote sweet pea growing and the Wem show. Visitors to the 2023 show came from as far as South Wales, Lancashire, Yorkshire, and the West Midlands to visit the show. Wem's Sweet Pea Show features floral art, craft, and children's classes which couple with craft. gift and food stalls, makes for a great day out for local people and visitors. More than 40 WTH volunteers participate in the lead up and the running of tho show weekend. WEM SEN Hub Wem Town Hall has supported the start-up of Wem SEN Hub (special educational needs hub) with free use of Spa for monthly meet ups (daytimes and evenings). We vRre delighted to be able to work with Shropshire's Rural Touring provider Arts Alive to present theatre sh(wi 'Boxed' in February which had been specifically made to be welcoming for the SEND community. Wotking with Wem SEN Hub to develop a targeted programme of opportuniknes for the SEND community will be a priority for the Charity. Page 6
WEM TOWN HALL COMMUNrrY TRUST . (A Company Lsmited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal r8vl8W . Going concern After making appropriate enquiries. the Trustees have a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going concam basis in preparing the financial statements. b. Flnanclal revlew The difficult trading ènvironment affected the Charlvs day40aY business throughout the financial year ended 315t March 2023. Income achieved was £195.341 {£251.563 at March 2023) and the expenditure for the year decreased to £204,863 {£258.972 at March 2023). The trading position for the year ended 31 March 2024 resulted in a loss of £9,522. This is in alignment with the Trustees financial expectations for the year basod on the programme, cuffent projects and baseline core cost occurring within the year. The loss in the main Gomes from not achieving the ino)me levels from programme and hires that the Charity aimed to achieve for the year. The number of events in the prograrnme did increase signrficantly bLrt it wa5 only towards the end of the financial year that the Charity experienced higher audience figures and increased revenues from the events. Strict control was kept over expenditure to minimise the loss Trustees could see the Charity was heading for at the end of the year, but to maintain the 6 day a week opening of the venue incurs base level of overheads that cannot be reduced. particular]y in tems of utilib'es and maintenance costs. Income during the year came from Servi level agreements honoured by our partners (Wem Town Council £18,000, Shropshire Council £2,700, and £10.1)00 lease agreement) and from funded projects including Building Better Opportunities (£4,360) The NatK)nal Lottery Community Fund, W.E.M Project (£41,000) and charity own fundraising (£7,579.) . Reserves pollcy The Trustees have nsidered the charitls roquiroment for reseNes in light of the main risks to the organisation. The lease of Wem Town Hall is a full repairiThJ lease and due to the high footfall increasing amounts of funding will be required to maintain Ihe high standard of the building and facilities. In addition. a level of reserves is required to cover emergency situation5 that may arise from time to time. The Trustees and Team have worked tirelessly to achieve a level of reserves set out in 2014 but now that has been reached the demands on the buikling and facilities are ever greater whilst activity increases, and il is now considered that a minimum level of £100,000 reserves is necessary. The Trustees recognise that increasing costs make it rnore difficult to generate sutplus funds towards this target. HNever, the aim continues to be to reach the required level within the medium temi. Free reserves on 31 March 2024 were £71,755 <2023: £81.277). d. Prin¢ipal fundlng In 2023124 the Charty's primary income stream Wds the provision of faalities and services (500/ty) followed by the delivory projects (24°/o £80 Project and W.E.M Project). Service Level agreement income from Wem Town Counol and Shropshire Council has been. and continues to be. pivotal in demonstrating local support for th9 Charity and gaining investsnent from Twsts and Foundations. e. Risk management The Charity trustees have given consideration to the major risks to vthich the charity is exposed and satisfied themselves that systems or procedures are established in ¢xder to manage those risks. Page 7
WEM TOWN HALL COMMUNrrY TRUST . (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 StruGture. governance and managernent a. Constitutlon Wem Town Hall Community Trust is registered as a charitablo company limited by guarantee and was set up by a Trust deed. The company is constituted under a Trust deed and is a registered charlty number 1113075. The organisation Is a charltable company limited by guarantee; incorporated on 6th October 2005 (amended by special resolution on 1 Oth December 2007) and registered as a charity on 24th February 2006. The company was established under a Memordndum vthich establishes the objects and powers of the charitable company and is govemed under its Articles of Assoc4ation. The Trust adopted a new set of Articles of Association more suitable for its Guent operation which were formalty adopted on 19 March 2015 and have been registered with Companies House and The Charities Commission Register. On 27th November 2019, a special resoluts'on with amendments to the articles of association was passed by the Charity and adopted and has been registered with Companies House and The Charities Cornmission. In the event of the company being wound up, Truste8s are required to contribute an amount not exceeding £10. b. Methods of appolntment or eleGtion of Trustees The directors of the company as reg5Stered at companies house are a150 charity tfU5tees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Assouation the directors of the Gharity are elected to serve for a period of three years after which they must be re-dected at the next Annual G8n8ral Meeting. The directors may appoint a person who is willing to ad to be a director at any point in the year. The maximum number of directors is e1ve and may not be less than six. Al directors give their time voluntarity and receNed no benefits from the charity. The Trustees have agreed to work towards a model of a Chair of TNstees bair appointed for a iwo-year period supported by a Vice Chair who will in tum become Chair. c. Policies adopt8d for the Induction and tralnlng of Trustees Most Trustees are already familiar wth the practical wcffk of the charity having been encouraged to attend or volunteer at public events. New Trustees a inmted and enuraged to attend a series of short training sessions lo familiarise Ihemselves wtth the charity and the context wthin which it operates. These are jointly led by the Chair of the board and the Diredor of Wem Town Hall and cover. . The obligations of Trustees. . The main documents which set out the operational frarnewc for the charity induding the Memrandum and Articles of Association. . Resourcing and the current financial p)sition as set out in the latest published accounts. Pag8 8
WEM TOWN HALL COMMUNrrY TRUST (A Company Lbmited by Guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 structurej governanGe and managernent {Gontinued) d. Oryanisalional structure and decision-making policie5 Wem Town Hall Community Trust has a Management Committee of up to hvelve members who meet quarterly and are responsible for the strategic direclion and policy of the charity. On 315t March 2024 the committee held eight m&mb6rs from a variety of professional backgrounds relevant to the work of the charity. A scheme of dèlegalion is in place and day to day responsibility for the provision of the serwces rest th the Director of Wem Town Hall. Four Trustees fomi a Finance and Personnd Commitlee that meets monlhly and is responsible for presenting a draft budget to the Management Commrttee for the following financial year no later than the 31st of December. Four Trustees together with the WTH General Manager form the House Committee which meets not less than three tirnès par year to monitor and reS[d to the ongoing building management and maintenance programmes. Recruitment proved to be an ongoing issue for the Charity in the first part of the year. A part4ime duty manager was eventually recruited and the Charity was delighled to appoint Jeff Salmon as Events officer in November 2023. Trustees have support&J the Charity by giving more of their time to SUPFX)rt the day to day running of the Charity including administrats'on and duty management oftt)e building. One mgmber of the Finan and Personnel Committee meets with the Director monthly to asses5 progress and ensure practiceldelivery. The Director of Wem Town Hall is responsible for ensuring that the charity delivers the services specified. that key perf0rrnan indicators are met and that finan operations are effective. The General Manager is responsible for the deployment of staff and volunteers. ensuring that Ihe small tgam continues to develop their skills in line wilh gwd practice whilst also having responsibility for the coordination of room hires. The Charivs policies and proc6dur8s such as health and safety, equal opportunities, safeguarding, volunteering and grievances are review1 by Trustees annually and Ulated Whe necessary. è. Serious incidents There have bn no cases of serious incidents that have risked or resulted in significant loss of the charity's money or assets. damage to the tharitls property or harm to thg charitys work. beneficiarios. or reputation. f. Rèlatéd partl8s None of our trustees re1ve remuneration or benefit for their work with the charity. Any connection between a trustee or senior stsff member of the charity wth a contracted partner must be disck)sed to the full board c trusle8S. Page 9
WEM TOWN HALL COMMUNrrY TRUST (A Company Limited by Guarantea) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future periods The Charity expects fijrther disturbance to its operation in the 24125 financial year as tt continues to rebuild audiences after the covid 19 pandemic and apply for new project funding. Due to ihe continued staffing shortages the Chartty experienced during the early part of the 23124 financial year soma of the future perlod plans scheduled for 23124 are being carried over into plans for the year ending 31st March 2025. In the next twelve months the Charity plans to: Increase the income generated from programme and hires. Worf( with the Wem SEN Hub to develop activities for the SEND Community. To ry)ntinue In the implementation of the fijndraising strategy in line with business planning, fusIng on the Business Friends membership scheme. To continue the development of the broadening horizons Best of British and World Cinerna programme. Continue to be a member of, and proactively supwjrt the work of the Culture Vibrant Shropshire. Page 10
WEM TOWN HALL COMMUNrrY TRUST (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 statement of Trustees. responsibilities The Trustees (who are abo the directors of the Charitable Company for the purFK)ses of company law) are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requir8s the Trustees lo prepare finanaal statements for each financial . Under company law. the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charitable Company and of its incoming resources and 8ppIic8tion of resources, including lis income and expendilure, for that period. In preparing these financtal stateentS. the Trustees are required to". select suilable accounting policies and then apply them consistenlly. observe the methods and principles of the Charifles SORP (FRS 102): make judgments and accounting estimates Ihal are reasonable and prudenL state whether applicable UK Accounting Standards {FRS 102) have been followed, subject to any material departures disclosed and explained in the finanaal statements- prepare the financial statements on the going conrn basis unless it is Inappropriate to presume that the Charitable Company will continu8 in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitable Companls transactions and disdose wtth reasonable accuracy at any timo the financial position of the Charitable Company and enable them to ensure that the financial stslements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularitses. Approved by order of the members of the board of Trustees and signed on their behalf by: A-k)I Dlnsdaie- irofT Date.. li /£ Page11
WEM TOWN HALL COMMUNrrY TRUST (A Company Limited by Guarantsa) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examiner's Roport to the Trustees of Wem Town Hall Community Trust {Ihe Charitable Company.) I report to the charity Trustees on my examination of the accounts of the Charitabk Company for the year ended 31 March 2024. Responslbilities and Basls of Report As the TrUStS of the Charitable Ci)mpany (and its directors for the puryx)ses of company law) you are responsible for the preparation of the aGcounts in accordance with the requirements of the Companies Act 2006 {'th8 2006 Act.). Having satisfied myself that the accounts of the Charitable Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examlnation. I report in respect of my examination of the Charitable Company's accounts carried out under section 145 of th8 Charities Act 2011 (Ihe 2011 Act'l. In carrying out my examinats'on I have followed the Diredions given by Ihe Charity Commission under section 145{5){b) of the 2011 Act. Page 12
WEM TOWN HALL COMMUNITY TRUST {A Company Llmlted by Guarantae) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Independent Examinerfs Statament I have cA)mpleted my examinali(Jn. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in raspect of the Charitablè Company as required by section 386 of tha 2006 Acl,. or the accounts do not accord with those re(x)rds' or the accounts do not comply with the acwunkn'ng requirements of sedlon 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair. view which is not a matt8r considered as part of an independent examination" or the accounts have not been prepared in accordance with the methods and principtes of the Statement of Recommended Practice for accountiro and reporting by chartties [apICable to charities preparing their accounts in accordance with the Financaal Reporting Standard apIcable in the UK and Republic of Ireland (FRS 102}]. I have no concerns and have Gome a(xoss no other matters in wnneGti(M wth the examination to whlch attention should be drawn in this repcwt in order to enabte a proper understanding of the accounts to be reathed. This report is made solely to the Charttable Companys Trustees. as a LN)dy. in ac(rdanCe wth Part 4 of the Charities (Accounts and Reports) Regulakn'ons 2008. My rk has been undertaken $0 that I might state to the Charitable Companys Trustees those matters l am required to state to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by law. I do not a¢¢ept or assuma responsibility to anyone other than the Charitable Company and the Charitable Companvs Twst8es as a body. for my work or for this raport. Signed.. Dated.. 1111212024 T Lunt BA FCCA [pl WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury SY2 6LG Page 13
WEM TOWN HALL COMMUNrrY TrUST (A Company Limited by Guarant88} STATEMENT OF FINANCIAL ACTMTIES VNCORPORATING INCOME AND EXPENDtruRE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted funds 2024 Restrfcted funds 2024 Total fund5 2024 Total funds 2023 Note Incorne from: Grants, donations and ga¢le$ Charitable activities Other trading activlties Investments 46,517 99.731 3,673 45,360 91,877 99,731 3,673 60 156,513 95,050 Total Income 149,981 45.360 195,341 251.563 Expanditure on: Raising funds Charitable activities 2,025 157A78 2,025 202.838 45.360 258,972 Total expendlture 159.503 45,360 204,863 258.972 Net movement in funds {9,522) (9,522) (7,409) Reconclllation of funds.. Total funds brought foNard Net movement in funds 81,278 (9.522) 81,278 {9,522) 88,687 (7.409) Tolal funds carried forward 71,756 71,756 81,278 The Statement of Finanaal Activibes indudes all gains and k)sses recognised in the year. The notes on pages 17 to 28 fomi part of these financial statements. Page 14
WEM TOWN HALL COMMUNrrY TRUST (A Company Limltgd by Guarantoe) .REGISTERED NUMBER: 05585617 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixod assets Investments 13 Current assets Stocks Debtors Cash at bank and in hand 14 881 15 5,034 101.611 16.535 107.05T 108,108 124,473 Creditors: arnounL8 falling due within one year 16 (36,353) (43. 196) Net ¢uffent assets 71,755 81.277 Total ass8ts less currnnt liabilities 71.756 81.278 Total net assets 71,756 81.278 Page 15
WEM TOWN HALL COMMUNrrY TRUST (A Company Limited by Guarantoe). .. REGISTERED NUMBER." 05585617 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 2024 2023 Note Charity fvnds Restricted funds Unrestricted fijnds 17 17 71,756 81.278 Total funds 71,756 81,278 The CharftaIe Company was entiued to exemption from audlt under section 477 of the Companies Act 2006. The members have not required the company to obtain an audlt for the year in question in arLordance with section 476 of Companies Act 2006. The Trustees acknovAedge their responsitslities for complying th the requirements of the Act with resP8d to accounting records and preparation of financial statements. The finanGial statements have b6en prepared in accordance with the provisions applicab to entities subject to tha small companies regime. The financial statements ware approved and aulhorised for issue by the Tnjstees and signed on their behalf by.. Dlnsd airofT ees) Date: The note5 on pagès 17 to 28 fonn part of these financial statemants. Page 16
WEM TOWN HALL COMMUNrrYTRUST (A Company Limited by Guaranto0) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General Informatlon The organisation is a Charitable C(Knpany limlted by guaranlee, inGorporated on 61h October 2005 (amended by special resolution on 1 Oth December 2007) and registered as a Charity on 24th Febnjary 2006. The Company was established undgr a Memorandum which establishes the objects and powers of the Charitable Company, and it is govem8d und8r its Arlicles of Association. The trust adopted a new set of Articles of Association more suitable for its Guent operation which were fomially adopted on 19lh March 2015 and have b*n registered with Companies House and The Charities Commission Register. In the evenl of the company being wourKI up members are required to contribute an arnount not exceeding £10. The Charitrfs purposes as set out in the objects conlained in the company's Articles of Association are to: provide facilities for the benefit of the inhabtlanis of Ihe town of Wem and the surrounding area in relats'on to (i) the advancement of the education of the public in the arts (li) the advanment of education and training generally and (iii) recreation or other leisure time occupation in the interest of social welfare wilh the object of improving the condittons of lrfe for the public at large. Accountlng pollGies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 102) - Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to tharities preparing their accounts in accordance With the Financial Reporttng Standard applicable in th8 UK and Republic of Ireland (FRS 102) (effective 1 January 2019). the Financial Rep(Yting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Wem Town Hall Community Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaclion value unless otherwise stated in the leVant accounting policy. 2.2 Incomo l inCOTn8 15 recognised once the Charitable Company has enliuement to ihe incotng, It is probable that the income wlll be received and the amount of infX)me receivable can be maasured reliably. Grants are included in the Statement of Financhal Activities on a receivable basis. The balance of ino)me received for specific purposes bui not expended during the pgriod is shown in the relevant fijnds on the Balance Sheet. Where income is received in advan(% of entitlement of receipt, its recognitson is deferred and included in Lyedttors as deferred income. Where entitlernent occurs before income is reived. the income is accrued. Page17
WEM TOWN HALL COMMUNrrY TRUST (A Company Umlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.3 Exponditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probab 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 aGtivity are ma eupo e total o direct costs and shared costs, induding support costs involved in undertaking each activity. Direct C05& attributable to a single acts'vity are allocated direcuy to that activity. Shared ¢05ts which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned bettveen those acts'vilies on a basis consistent with the use of resource5. Central staff cosis are albcated on Ihe basis of time spent and depreaation charges allOted the portion of the asseys usg. Expenditure on raising fvnds indudes all expenditure incurred by the Charitable Company to raise funds for its charitable purtx)ses and InCdeS costs of all fundraisirKJ activities events and non- charitable trading. Expenditure on charitable actiwbes is incurred on directly underlaking the actiwties which further the Charitable Companys objeclrves, as well as any associated support costs. Ail expenditure is inclusive of irrecoverable VAT. 2.4 Govornm8nt grants Govemment grants are accounted for in the Statement of Financial Activity upon entitlemenL 2.5 Internst rgcoivablè Interest on funds held on deposit is included vthen receivable and the amount can be measured reliably by the Charitable Company- this is nomialty upon notification of the interest paid or payable by the institution with whom the funds are deposrted. 2.6 Invostmonts Fixed asset investrnents a a fomi of financial instrument and are initially recognis8d at their transaction cost and subsequenuy measured at fair value at the Balance Sheet dat8, unless the value cannot be measured reliably in which case it is measured at cost less impaiment. Investment gains arKJ losses, whether realised or unrealised, are combined and presented as 'Gainsl{Losses) on inv8stmants' in the Statement of Financial Activiti8S. 2.7 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowan for obsolete and slow-moving stoGks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.8 Debtors Trade and other debtors are recognised at the settlement amount after any trade dlsrL)unt offered. Prepayments ar8 valued at the amount prepald net of any trade diso)unts due. Pagg 18
WEM TOWN HALL COMMUNrrY TRUST (A Company Limited by Guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.9 Cash at bank and in hand Cash at bank and in hand includes cash and 5hort4erm highly liquid investments wth a short maturlty of three month5 or less from the date of acquisition or opening of the deposit or similar account. 2.10 Liabilitias and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the SettMent can be estimated reliably. Liabilities are recognised at the amount that the Charitable Company antiapates it vill pay to settlo the debt or the amount it has received as advanced payments for the goods or services it musl provide. 2.11 Financial instruments The charitab Company only has financial assets and financial liabilities of a kind that qualify as basic financial instnjments. Basic financial instruments are initially recognised at transaction value and subsequentty measured at their settlement value with the exception of bank loans which are subsequentw measured at arnortised cost using the effective interest meth¢)l. 2.12 Pènsions The Charitabb Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charitsb]e Company to the fund in respect of the year. 2.13 Fund accountlng General fijnds are unrestricted funds which are available for use at the discretion of th8 Trustees in fijrtherance of the general objectives of the Charitable Company and whith have not been designated for other purposes. Restricted funds are fijnds which are to be used In accordance with specific restrictions imposed by donors or which have been raised by the Charitable Company for particular purposes. Tho cosis of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the finanal statements. Investment incorne. gains and Ioss8s are allocated to the appropriate fund. Page 19
. WEM TOWN HALL COMMUNrrYTRUST (A Company Umlted by Guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from grants, donations and lega¢les Unrestricted Restricted funds fvnds 2024 2024 Total funds 2024 Total funds 2023 Donations Grants Govgmment grants Similar incoming resources 5,931 16,572 20.700 3,314 5,931 61,932 20,700 3.314 3,070 56,525 87,962 8,958 45,360 46.517 45,360 91,877 156.513 Total 2023 53, 863 102,650 156,513 Govemment grant income indudes funding from The Town Council and Shropshire Council, These are Induded within the table below. Grant Income 2024 2023 Town Council Shropshire Council Lease Agreement Shropshire Counril Commissioning Building Better Opwrtunities BFI Audience hubs W.E.M. Dementia Friendly Film Hub Midlands 18,000 10,000 2.700 4.360 20,000 15, LlOO 57,983 1.137 38,688 41,000 2,101 4A71 Other grant income Kickstarter 1, 700 5,979 82,632 144.487 Pagg 20
. WEM TOWN HALL COMMUNtTY TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from charitable activitles Unrestricted funds 2024 Total funds 2024 Total funds 2023 Event and venue income Wem Market income Friends and Members. subscriptions 88.355 7.014 4,362 88,355 7,014 4,362 82, 738 8,826 3,486 99,731 99,731 95,050 Total 2023 95,050 95,050 Income from other tradlng activiti05 Income from fundra151ng events Unrestricted funds 2024 Total funds 2024 Tot81 funds 2023 Fundraising 3,673 3,673 Investment income Unrostricted funds 2024 Total funds 2024 Total nds 2023 Interest income 60 60 Page 21
WEM TOWN HALL COMMUNITY TRUST (A Company Limited by Guarantee) . NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on raising funds Costs of raislng voluntary income Unrestrlcted funds 2024 Total fund5 2024 Total funds 2023 Fundraising expenditure 2.025 2.025 Analysis of expendtture on charitable aGtivltl95 Summary by fund type Unrastrlcted Restricted funds funds 2024 2024 Total 2024 Total 2023 Charitable expenditure 157.478 45,360 202,838 258.972 Total 2023 156,322 102.650 258.972 Analysis of expenditure by a1VitieS Actlvltles undertakèn directly 2024 Support costs 2024 Total fund5 2024 Total fvnds 2023 Charitabl8 8xpendituro 107,116 95,722 202,838 258.972 Total 2023 107,825 151.147 258,9T2 Page 22
WEM TOWN HALL COMMUNrrY TRUST . (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysi5 of expenditure by aGtivitie5 (Gontinu8d) Analysis of direct Costs Event and venue Income 2024 Total funds 2024 Total nds 2023 Staff costs Evgnt costs W.E.M. Dementia Friand Meals on Wheels 67,158 29,570 9.830 558 67,158 29,570 9.830 558 63,771 27,818 11,098 5, 138 107,116 107.116 107,825 Total 2023 107.825 107,825 Analysls of support costs Event and venue incorne 2024 Tolal funds 2024 Total funds 2023 Staff costs Facility maintenance Facility running costs General expenses Accountancy and Indepéndent Examination fees Insurance Profossional fe8s 16,789 15,192 50.665 6.042 1.880 4.461 693 16,789 15,192 50,665 6,042 1,880 4A61 693 77.942 20,005 43.996 3,868 1.313 4,023 95,722 95,722 151, 147 Total 2023 151, 147 151,147 Page 23
WEM TOWN HALL COMMUNITY TRUST (A Company Umlted by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Independent examinerfs remuneration 2024 2023 F6&s payable to the Charitable Companls independént examiner for the Independent examination of the Charitable Company's annual accounts 1,470 1,300 11. Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 79,325 132,819 5,355 3,539 2,958 83,947 141,713 The average number of persons employed by the Charitable Company during the year was as follows: 2024 No. 2023 Employees No employee received remuneration amounting to MO than £60,000 in either year. The total rèmuneration for the two key management personnel amounted to £68,762 during the year including gross salaries and employers pension o)ntributions {2023: £66,997). 12. Trustees. romunèration and exnSeS During the year, no Trustees received any remuneration or other benefits (2023~ £NIL). During the year end 31 March 2024, no Trustee expenses have been in<xrred (2023 - £nil). Page 24
WEM TOWN HALL COMMUNttY TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Fixed asset investments Trade investments Cost or valuation At 31 March 2024 Nat book value At 31 March 2024 At 31 March 2023 Wem's Truty SGrurnptious Catering Company Limited (Company nutnber 8884941) is a subsidiary undertaking of the Charitable Company. The Charitable Gornpany holds 100Yo of the shares in the subsidiary. Wem's Truty Scrumptious Catering Company Limited made a profit of £720 during the year, and held net assets of £3.166 at the year end. 14. Stocks 2024 2023 Bar strjck 1A63 881 15. Debtors 2024 2023 Due withln on8 year Trade debtors other debtors Grants receivab 3.686 718 15.482 1,053 630 5.034 16,535 Pag8 25
WEM TOWN HALL COMMUNrrYTRUST ":" (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Creditors: Amounts falling du6 wtthln one year 2024 2023 Trade creditors Amounts owed to subsidiary company Olher taxation and social security Pension Other credilors Accruals and defeffed Income 9.298 1,934 3.178 2,622 113 240 562 130 21,813 39.659 36.353 43,196 17. Statemont of funds statement of funds - curront year Balance at 31 March 2024 Balance at 1 Aprll 2023 Incorne Expenditure Unrostrlctod funds General Funds 81.278 149,981 (159,503) 71.756 Restrlcted funds Wem into Work W.E.M. t>ementra Friendty 4.360 41.000 {4,360) {41,000) 45.360 {45,360) Total of funds 81,278 195.341 (204,863) 71,756 Restricted funds comprise of: Wem into Work - p8rt of Building Better Opportunities Shropshire. provision of one to one support to job Sgakers. W.E.M. Dementia Friend - creating ¢)PPOrtunities for those livtng wlth dementia and their carers to take part in activities together. Page 26
WEM TOWN HALL COMMUNifY TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Statement of funds (contlnued) statement of funds - prlor year Balan at 31 March 2023 Balan at 1 Apnl 2022 Inwme Expenditure Unrestricted funds General Funds 88,687 148,913 (156.322) 81,278 Restrictod funds Kickstsrt Wem into Work W.E.M. Dementla Friend 5,979 57.983 38,688 (5,979) (57,983) (38.688) 102,650 (102,650) Total of funds 88.687 251.563 (258.972) 81.278 18. Analysi5 of net assets bet¥Yeen funds Anatysis of net assets between funds - current period Unrestricted funds 2024 Total funds 2024 Trade investm8nts Current assets Creditors due within one year 108,108 {36.353) 108,108 136,353) Total 71,756 71,7S6 Page 27
WEM TOWN HALL COMMUNrrY TRUST (A Company Umited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Analysls of net assets between funds (continued) Analysls of net assets between funds - prior period Unreslncled fvnds 2023 Total funds 2023 Trade investments Current assets Creditor5 due wilhin one year 124,473 (43,196) 124.473 (43. 196) Total 81,278 81,278 19. Pension commllmenls The Charity paid pension contributions of £2,958 during the year (2023: £3,539). At the year end there were contributions payable of £nil. 20. Related party transactlons Wern's Truly Scrumptious Catering Company Ltd (Registration number." 8884941) is a subsidiary of Wern Town Hall Community Trust During the year Wem's Truly Scrumptious Catering Company paid Wem Town Hall £11.500 {2023 £9,OOQI. Wem Town Hall paid Wem's Truly Scrumptious Catering Company £10,222 (2023 £7.076) during the year. At the year end there as £1.934 owed by Wem Town Hall to Wem's Truty Scrumptious Catering Company {2023: £1131. Page 28