REGISIERED COMPANY NUMBER: 06317281 {En8land and Wale5) REGISTERED CHARITY NUMBER: 1122786 Report of the Trustees and Unaudited Financlal Statements for the Year Ended 31 March 2024 for STANWICK VILLAGE HALL Cobley Desborough Chartered Certified Accountants Chartered Tax Advisers Artisans House 7 Queen5bridge Northampton Northamptonshire NN4 7BF
STANWICK VILLAGE HALL Contents of the Financial Statements for the Year Ended 31 March 2024 Page Report of the Trustees Independent Examiner's Report ststement of Financial Activities Balance Sheet 9 to 10 Note5 to the Financial Statements 11 to 17 Detailed Statement of Financlal Activities 18 to 19
STANWICK VILLAGE HALL Report of the Trustees for the Year Ended 31 March 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2()J6, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reportin8 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 IFRS 102) {effective l January 2019). Objertives and activities Objectives and aims The objectives of the charitable company are to establish and maintain a village hall for the use of the inhabitants of the Parish of Stanwick and the surrounding area without distinction of sex, sexual orientation, age, disability, nationality. race or political. religious or other opinions. The village hall has been established for meetings, lectures and classes or other forms of recreation and leisure time occupation in the interests of Social welfare and the object of improving the conditions of life for the inhabitants of Stanwick and the surrounding areas. Page I
STANWICK VILLAGE HALL Report of the Trustees for the Year Ended 31 March 2024 Objectives and activities Significant activities and financial review The objectives of the charitable company are stated above and the activities during the year have been consistent with these objectives. Activity Occupancy levels continued to be high during the year and the hall was used daily by Stanwick Preschool Playgroup and for a range of other activities including dance and fitness cla55es, badminton and table tennis as well as educational and language lessons, family parties, blood donors, hand bells, a church group and family support groups. It continued to be at the centre of whole village events such as the Christmas Fair and Stanwick Races events. Parish Council meetings were held in the hall and the Parish Council Clerk continued to have an office in the hall. The Trustees are pleased to report that solar panels were installed during the year which they hope will help with future running costs and lower the halls carbon footprint. The Trustees are grateful for the support they received during planning and installation which included a grant from the Big Lottery. There was a continuing focus on ensuring the hall was in good condition and routine repair5 and maintenance wa5 carried out on a timely basis. Firlancial review Income for the year includes an amount of £1,000 in connection with the solar installation. The grant received was for £IO,CK)O which is being released over ten years to match the depreciation on the panels. Exclud ing this. hall income was slightly higher than the previous year, reflecting the increase in hire rates which were introduced in response to the significant rise in energy costs and the fact that we hadn't increased rates for 4 years. Fundraising income reflected the income from quiz and cream tea events as well as our Christmas raffle and includes ticket sales, bar and other income. Income was down on prior year due to less events and the holding of events jointly with another village organisation. The related costs are included in expenditure. Expenditure increased by 20Yo year on year, primarily reflecting an almost doubling in energy Costs and a large increase in repairs and maintenance. Repairs were carried out on flooring, a new boiler and we continued with decoration to keep the building looking good. The incidence of damage during hire has a150 increased which is disappointing. Other costs were, overall, not significantly different to the prior period, reflecting strong management by the Trustees and Rebecc3. Overall, we recorded a net deficit of £11,578 compared with a deficit of £5,422 in the prior year. The Trust's cash balance reduced year on year reflecting the increased costs, expenditure on the solar panel installation, partially offset by the grant receipt. Green Agenda The Trustees continue to monitor the impact of the new solar panels, and to consider other ideas as part of their focus on reducing the carbon footprint, Future hire rates Page 2
STANWICK VILLAGE HALL Report of the Trustees for the Year Ended 31 March 2024 Objectives and activities Having increased the hire rates for the first time in 4 years, because of the impact of the huge rise in energy costs, the Trustees are planning to hold rates for 2024 and 2025. During this time a clearer view on the impact of the 501ar panels will be obtained and hence the level of the ongoing cost base of the hall. Stewardship The Trustees continued to meet on average every month. except for the summer, and monitor hall hire activity, finances, the physical state of the hall, the green agenda, risks and other matters, We continue to look for other volunteers to act as new trustees to help oversee the charity for the next decade! Please do volunteer and email or speak to the existing Trustees or Rebecca. The Trustees appreciate the great support that Rebecca, the hall manager, provides not only to users but also to the Trustees in using her experience and knowledge to ensure the continuing success of the hall. Please do monitor the website WVI.stanwickvlIla8ehalI.0rg which provides details on forthcoming and regular events. Strategy and viability The hall is a charity, and its income is from hire, fund raising events and donations. The Big Lottery Fund, which provided the majority of the funding for building the hall. has a legal charge over the hall for 20 years and their focus was, and remains, to ensure the building is Sustained to provide a facility to the community. The Trustees are mindful of their responsibility to ensure the hall is available for the long term and monitor the financial position monthly and seek to maintain adequate, but not excessive, reserves. Reserves policy The Trustees are mindful of the need to maintain reserves to ensure the hall is available for the longer term and ensure, as far as p055ible, that sufficient, but not excessive, funds are accumulated and maintained to cover future property costs which are anticipated, over time, to be significant. In accounting terms, depreciation of the building and fixtures and fittings represents a charge to reflect the wearing out and hence requirement for their future replacement. Over the past 13 years depreciation ha5 been cumulatively approximately £180,0(K) but the cash retained represents less than half of this amount. This underlines the need to continue to accumulate reserves as future costs are likely to be higher than the historic cost of items. It ts anticipated that major replacement costs will increase as the hall becomes older and the Trustees are focused on the facility being available, and maintained, for the long term, and not being reliant on future funding. Given this, it is anticipated that reserves will. in the short-term continue to increase, The exception to this is expenditure on projects such as solar which will help in managing future expenditure. How you can help In addition to hiring the hall and supporting events that take place in it, there are a number of ways in which people can help support the hall and ensure its future viability is assured. Some years ago, we introduced 'pledge an hour" to encourage people to help with small jobs around the hall, at a time to suit themselves, which saves the hall money. This would benefit from further support. Finally, on a personal note I would like to express my appreciation for the support of the Trustee5 and Rebecca during these recent and ongoing challenging times. As noted above we are keen for new trustees to come on board to help ensure the hall is available to future generations as a viable asset and a focal point for the community. Phil Crooks CHAIR Page 3
STANWICK VILLAGE HALL Report of the Trustees for the Year Ended 31 March 2024 Financial review Reserves policy It is the policy of Stanwick Village Hall to hold sufficient reserves to meet its objectives; to firstly establish the hall and now maintain it for the inhabitants of the parish of Stanwick and the surrounding area. As noted above, this is a long term objective and fund raising will be required to provide further reserves for larger items of repair and maintenance in the future. It IS the policy of the charitable company to use the money a5 laid out in its Memorandum and Articles of Association. Structurep governance and management Goveming document Stanwick Village Hall is a company limited by guarantee. The company was incorporated on 18 July 2LX)7. The company is also a registered charity, having registered with the Charity Commission on 14 February 2008. The governing documents of the charitable company are contained within the Memorandum and Articles of A550ciation of Stanwick Village Hall. Refence and administrative details Registered Company number 06317281 (England and Wales) Registered Charity number 1122786 Registered office Spencer Parade Stanwick Northamptonshire NN9 6QJ Trustees Mr PJ Crooks Chairman Mrs S E Kitchener Treasurer Mr N G Peck Vice Chairman {resigned 25.10.23) Mr M Johnson Ms E Lowe Secretary Mr J H T Shearer Company Secretary Mr M Johnson Independent Examiner Cobley Desborough Chartered Certified Accountants Chartered Tax Advisers Artisans, House 7 Queensbridge Northampton Northamptonshire NN47BF Page 4
STANWICK VILLAGE HALL Report of the Trustees for the Year Ended 31 March 2024 Approved by order of the board of trustees on 6 December 2024 and signed on its behalf by: Mrs S E Kitchener- Trustee Page 5
Independent Examiner's Report to the Trustees of Stanwick Village Hall Independent examiner's report to the trustees of Stanwick Village Hall ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company land also it5 directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2C(J6 Act'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent exarnination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 Ib} of the 2011 Act. Page 6
Independent Examinels Reportto the Trustees of Stanwick Village Hall 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: accounting records were not kept in respect of the Company as required by Section 386 of the 2Crt)6 Act: or . the accoilnts do not accord with those records" or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination,. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland (FRS 1021). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in thi5 report in order to enable a proper understanding of the accounts to be reached. Jonathan Cobley The Association of Chartered Certified Accountants Cobley Desborough Chartered Certified Accountants Chartered Tax Advisers Artisans, House 7 Queensbridge Northampton Northamptonshire NN4 7BF 6 December 2024 Page 7
STANWICK VILLAGE HALL Statement of Financial Activities for the Year Ended 31 March 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 42,119 42,119 38,379 Other trad ing activities 3,305 3,305 3,856 Total 45,424 45.424 42,235 EXPENDITURE ON Charitable activities Expenditure 47,349 9,653 57,CX)2 47,657 NEf INCOME/(EXPENDITURE) {1,925) (9,653) 111,578) {5,4221 RECONCILIATION OF FUNDS Total funds brought forward 139.369 366,794 506,163 511,585 TOTAL FUNDS CARRIED FORWARD 137,444 357,141 494,585 506,163 The notes form part of these financial statements Page 8
STANWICK VILLAGE HALL Balance Sheet 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Restricted fund fund Notes FIXED ASSETS Tangible assets 65,260 357, 141 422,401 420,238 CURRENT ASSETS Debtors Cash at bank 66 85,692 66 85,692 98 90,235 85,758 85,758 90,333 CREDITORS Amounts falling due within one year {5,574) 15,574} {4,408) NET CURRENT ASSETS 80,184 80,184 85,925 TOTAL ASSETS LESS CURRENT LIABILITIES 145,444 357,141 502,585 506, 163 ACCRUALS AND DEFERRED INCOME io (8,(K)O) 18,0(K)} NET ASSETS 137,444 357,141 494,585 506,163 FUNDS Unrestricted funds Restricted fund5 li 137,444 357.141 139.369 366,794 TOTAL FUNDS 494,585 506,163 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companie5 Act 2006. The trustees acknowledge their responsibilities for {al ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2LK)6 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which other¥vise comply with the requirements of the Companies Act 2006 relatin8 to financial statements. so far as applicable to the charitable company. (bl The notes form part of tse financial statements Page 9
STANWICK VILLAGE HALL Balance Sheet- continued 31 March 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the Small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 6 December 2024 and were signed on its behalf by: V_. & L--I, Mrs S E Kitchener- Trustee The notes form part of these financial statements Page 10
STANWICK VILLAGE HALL Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 '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 IFRS 102} (effective l January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2CK)6. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or construttive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headin8S they have been allocated to activities on a basi5 con5iSteTrt with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property Fixture5 and fittings Computer equipment 2% on cost 15% on reducing balance 33% on reducing balance Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The Big Lottery grant of £482.630 is being written off over 50 years in line with the freehold property depreciation policy. Pension costs and other FP05t-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 11
STANWICK VILLAGE HALL Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES- continued Volunteer help The value of any volunteer help received is not recorded in the accounts but any help in addition to that given by the Trustees is described in the Trustees Report if significant. OTHER TRADING ACtIVlTIES 2024 2023 Fundraising events 3,305 3,856 NET INCOME/(EXPENDITURE) Net incomel{expenditure) is stated after charging/lcrediting): 2024 2023 Depreciation- owned assets Deficit on disposal of fixed assets 12,717 12,618 130 TRUSTEES, REMUNERATION AND BENEATS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF COSTS The average monthly number of employees during the year was as follows: 2024 2023 Manager No employees received emoluments in excess of £60,000. Page 12
STANWICK VILLAGE HALL Notes to the Financial Statements- continued for the Year Ended 31 March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 38,379 38,379 Other trading activities 3,856 3,856 Total 42,235 42,235 EXPENDITURE ON Charitable activities Expenditure 38,004 9,653 47,657 NET INCOMEI(EXPENDITURE) 4,231 {9,6531 15,4221 RECONCILIATION OF FUNDS Total funds brought forward 135,138 376,447 511,585 TOTAL FUNDS CARRIED FORWARD 139,369 366,794 506, 163 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Solar panels Computer equipment Totals Cost At l April 2023 Additions 537,503 52,204 1,056 590,763 14,880 14,880 At 31 March 2024 537,503 14,880 52,204 1,056 605,643 Depreciation At l April 2023 Charge for year 128,325 10,750 41,486 1,720 714 170,525 12,717 247 At 31 March 2024 139,075 247 43,206 714 183,242 Net book value At 31 March 2024 398,428 14,633 8,998 342 422,401 At 31 March 2023 409,178 10,718 342 420,238 Page 13
STANWICK VILLAGE HALL Notes to the Financial Statements - continued for the Year Ended 31 March 2024 DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 Trade debtors Prepayments 18 48 98 66 98 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepaid income Trade creditors Other creditors Accruals and deferred income Accrued expense5 1.090 920 230 1,0 2,334 1,090 821 121 2,376 5,574 4,408 IQ. ACCRUALS AND DEFERRED INCOME 2024 2023 Accruals and deferred income 8,0) 11. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 139,369 (1,925} 137,444 Restricted funds Big lottery grant 366.794 (9,6531 357,141 TOTAL FUNDS 506,163 (11,578) 494,585 Page 14
STANWICK VILLAGE HALL Notes to the Financial Statements- continued for the Year Ended 31 March 2024 11. MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlcted fund5 General fund 45,424 147,349) 11,9251 Restricted funds Big lottery grant 19,6531 {9,653} TOTAL FUNDS 45.424 (57,0021 111,578) Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestrlcted funds General fund 135,138 4,231 139,369 Restricted funds Big lottery grant 376,447 19,6531 366,794 TOTAL FUNDS 511,585 15,4221 506,163 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 42,235 138,004) 4,231 Restricted funds Big lottery grant 19,6531 19,6531 TOTAL FUNDS 42,235 147,6571 15,4221 Page 15
STANWICK VILLAGE HALL Notes to the Financial Statements- continued for the Year Ended 31 March 2024 ii. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31.3.24 At 1.4.22 Unrestricted funds General fund 135,138 2.306 137,444 Restricted funds Big lottery grant 376,447 (19,306) 357,141 TOTAL FUNDS 511,585 (17,000) 494,585 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources xpended Movement in funds Unrestricted funds General fund 87,659 (85,353) 2,306 Restrlcted funds Big lottery grant (19,306) 119.306) TOTAL FUNDS 87,659 1104,659) 117,IX)O) Restricted Funds Grants received from The Big Lottery are restricted funds for 20 years and during this period the Big Lottery has a legal charge over the property. Page 16
STANWICK VILLAGE HALL Notes to the Financial Statements - continued for the Year Ended 31 March 2024 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. 13. DEFERRED INCOME A grant was received for £lO,tMJO to be used towards the purchase of 501ar panels acquired in the year. The solar panels are being depreciated over their estimated useful life of 10 year5 and in line with this the grant is also being released over 10 years. £1,000 is reflected in deferred income fallin8 due in one year and £8,000 15 shown in deferred income falling due in more than one year. Page 17
STANWICK VILLAGE HALL Detailed Statement of Financial Activities for the Year Ended 31 March 2024 2024 2023 INCOME ANO ENDOWMENTS Donations and legacies Charitable donations Grants Hall and room hire 389 1,000 40.730 347 38,032 42,119 38,379 Other trading artivitles Fund raising events 3,305 3,856 Totsl incoming resources 45,424 42,235 EXPENDITURE Charitable activities Manager salary Pensions Premises licence cost Insurance Gas, electricity and water Telephone Post, stationery and computer consumables General expenses Subscriptions Repairs and maintenance Cleaning Contract services Website costs Fund raising expenses Freehold property depreciation Depn of solar panels Fixtures & fittings depreciation Computer equipment 11,803 162 180 2,021 12,028 999 452 221 462 8,947 2,615 1,717 360 1,292 10,750 247 1,606 114 10,302 117 180 1,917 6,276 894 485 245 814 6,341 3,001 1,346 180 1,796 10,750 1,767 102 55,976 46,513 Support costs This pa8e does not form part of the statutory financial statements Pa8e 18
STANWICK VILLAGE HALL Detailed Statement of Financial Activities for the Year Ended 31 March 2024 2024 2023 Support costs Finance Loss on sale of tangible fixed assets 130 Governance costs Accountancy and legal fees 1,026 1,014 Total resources expended 57,002 47,657 Net expenditure (11,578) 15,4221 This page does not form part of the 5tatutory.financial statements Page 19