## **SBAR Trustees' Annual Report** # **for the period:** **From To** 01 January 2020 31 December 2020 ## **Section A Reference and administration details** **Charity name The St Briavels Assembly Rooms Ltd** **Company Registration number** 06558465 **Registered charity number (if any)** 1124367 **Charity's principal address** St. Briavels Recreation and Assembly Rooms East Street St. Briavels Lydney Gloucestershire **Postcode GL15 6TG** ## **Names of the charity trustees who manage the charity** |||||**Name of person (or body)**| |---|---|---|---|---| ||**Trustee name**|**Office (if any)**|**Dates acted if not for whole year**|**entitled to appoint trustee**| |||||**(if any)**| |1|Grace Bensted|Chairman||| |2|Roger Stuart|Treasurer||| |3|Alan Preest|||| |4|Alan Bensted|Secretary|To 9thSeptember 2020|| |5|Elizabeth Stuart|||| |6|Karen Cockfield|||| |7|Keith Norman|Company Secretary||| |8|John Hurley|Secretary|From 9thSeptember 2020|| |9||||| |10||||| ## **Name of chief executive or names of senior staff members (Optional information)** ## Section B Structure, governance and management ## **Description of the charity’s trusts** Type of governing document: Memorandum and Articles of Association How the charity is constituted: Company Limited by Guarantee Trustee selection methods Appointed by Existing Trustees Page **1** of **3** **The St. Briavels Assembly Rooms Ltd.** Co Reg: 1124367 / Charity: 1124367 - **TAR April 2016** **Section C Objectives and activities** **Summary of the objects of the charity set out in its governing document** -  The Objects of the Charity are the provision and maintenance of a village hall for the use of the inhabitants of St Briavels, Hewelsfield and Brockweir, who are its beneficiaries, without distinction of political, religious or other opinions, including use for: - a) meetings, lectures and classes, and b) other forms of recreation and leisure-time occupation with the object of improving the conditions of life for the inhabitants. -  The land identified in the schedules to the Charity Commission scheme must be retained by the trustees for use for the objects of the charity. The Trustees have had due regard for the Charity Commission's guidance on public benefit. **Summary of the main activities undertaken for the public** The Assembly Rooms are run as a charitable limited company, entirely by **benefit in relation to these** unpaid local volunteers, on behalf of the beneficiaries, the parishioners of **objects (include within this** St. Briavels, Hewelsfield and Brockweir. **section the statutory declaration that trustees have had regard to** The year 2020 was severely affected by the Covid-19 pandemic. **the guidance issued by the** However, thanks to a Government Covid grant of £10,000, income was **Charity Commission on public** almost unchanged from 2019. Costs reduced significantly, so that the **benefit)** surplus actually rose strongly, as reported in Section D below. At the start of the year, as in previous years, the building was used by many local organisations and individuals, most of which did not re-start in the Autumn given the on-going restrictions associated with Covid. The Trustees continued to work under professional guidance to resolve ownership and rights of way disputes with neighbouring properties. As reported last year, the proceedings already issued by the Charity in respect of Townsend Cottages were settled out of court in March 2020 and the facts surrounding this case were shared with the Commission in several exchanges in the summer of 2020. The second dispute mentioned last year, with the Charles Lord Denton Almshouses charity on the other side of the Halls, has been the subject of a Serious Incident Report to the Commission (with updates). The case went to court in April 2021, after the period under review. The Court found against the Charity as reported to the Commission in Serious Incident Report 7714. The Charity is following the Commission's guidance related to the outcome of this case, which was not of the Charity's seeking or making. The cost consequences of the case are being addressed, as noted in Section D below. The two cases have placed huge burdens of time and patience on members of the Board over many years and have taken a significant toll on members' health. There are no further serious issues to report. Page **2** of **3** **The St. Briavels Assembly Rooms Ltd.** Co Reg: 1124367 / Charity: 1124367 - **TAR April 2016** Section D Achievements and performance **Summary of the main** As indicated above, 2020's financial result was heavily impacted by the **achievements of the charity** Covid pandemic. Before Government support, income dropped by 40%, **during the year** which would have been a greater fall had it not been for the continued income from the 100 Club Lottery. A Government grant of £10,000 meant that income was almost unchanged from the previous year. Costs on the other hand reduced by 31%, so that the surplus before extraordinary items rose by 71% from £7,346 to £12,700 for the year 2020. This increase, however, was reversed because of an initial payment of £5,000 towards costs awarded against the Assembly Rooms in the case brought by the Almshouses, mentioned in Section C above. Work is in hand to minimise these further possible costs, but there will inevitably be a new financial burden on the Charity. This increase in liabilities will also mean that the final stage of re-development, the refurbishment of the 1856 Reading Room, is now delayed indefinitely. In spite of this general upheaval, reserves remained strong: cash in hand and at the bank rose from £20,996 the previous year to £25,362 at the end of 2020. This financial strength has been a very important buffer against the ongoing effects of Covid. As noted above, there will be further costs related to the Almshouses case, but plans are in place to address that issue and to ensure financial stability and security. Otherwise the current priority is to accelerate the re-start of the use of the Halls and increase cash flow. ## **Section E Financial review** **Brief statement of the** The Charity's policy is to retain a reserve to cover the working capital **charity’s policy on reserves** required by the charity over a minimum 3-month period. However, previous capital works have been largely grant-funded, whereas the final phase of redevelopment (the major Reading Rooms project) is expected to need significant input from the Charity itself. Accordingly reserves continue to be increased in preparation for that phase. **Details of any funds materially** None **in deficit** ## **Section F Other optional information** NONE ## **Section G Declaration** **The trustees declare that they have approved the trustees’ report above.** ## **Signed on behalf of the charity’s trustees:** **Signature(s)** **Full name(s)** Roger Burgess Newton Stuart **Position** (eg Secretary, Chair Chair, etc) **Date** 12[th] October 2021 Page **3** of **3** **The St. Briavels Assembly Rooms Ltd.** Co Reg: 1124367 / Charity: 1124367 - **TAR April 2016** # **Company Registration Number: 06558465 Charity Registration Number: 1124367** # **The St. Briavels Assembly Rooms Ltd Company Limited by Guarantee** ## **Unaudited Financial Statements** **Year Ended 31st December 2020** ## **The St Briavels Assembly Rooms Ltd Company Limited by Guarantee** ## **Statement of Financial Activities** ## **(including income and expenditure account)** ## **31st December 2020** |**Note:**
**Income and Endowments**
Donations and Legacies
**5**
Charitable activities
**6**
Investment income
**7**
**Expenditure**
**Expenditure on Charitable activities**
8
**Other expenditure**
**_Total Expenditure_**
**_Total income_**
**Total funds carried forward**
**Total funds brought forward**
**Reconciliation of funds**
**_Net Income and net movement of funds_**|**Unrestricted**
**Funds**
**Total Funds**
**2020**
**£**
**£**
500
500
24,852
24,852
-
-
25,352
25,352
20,730
20,730
-
-
20,730
20,730
4,622
4,622
162,580
162,580
167,202
167,202|**Total Funds**
**2019**
**£**
488
25,149
-
25,637
20,294
-
20,294
5,343
156,712
162,580| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. **All income and expenditure derive from continuing activities** ## **The St Briavels Assembly Rooms Ltd Company Limited by Guarantee** ## **Statement of Financial Position** ## **31st December 2020** |**Note:**
**Fixed assets**
**Tangible fixed assets**
**12**
**Current assets**
**Stocks**
13
**Debtors**
14
**Cash at bank and in hand**
**_Total current assets_**
**Creditors: amounts falling due within**
**one year**
15
**_Net current assets_**
**_Total assets less current liabilities_**
**Creditors: amounts falling due after**
**one year**
16
**Provisions for liabilities and charges**
**_Net assets_**
**Funds of the Charity**
Revaluation reserve
Other unrestricted funds
Restricted income funds
**_Total unrestricted funds_**
**_Total charity funds_**
**17**|**2020**
**£**
210,632
755
30
25,362
26,147
7,955
18,192
228,824
61,622
-
167,202
50,000
117,202
-
167,202
167,202|**2019**
**£**
212,656
1,000
1,373
21,418
23,791
11,170
12,621
225,277
62,697
-
162,580
50,000
112,580
-
162,580
162,580| |---|---|---| For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors’ responsibilities: • The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, • The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements ## **These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.** These financial statements were approved by the board of trustees and authorised for issue at the AGM held on 1st September 2021 and signed on behalf of the board by: ## **R Stuart** **Chair** ## **The St Briavels Assembly Rooms Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2020** ## **1. General Information** The Charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is East Street, St Briavels, Lydney, Gloucestershire, GL15 6TG ## **2 Statement of Compliance** These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland, the statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (Charities SORP (FRS102)) and the Charities Act 2011. ## **3[Accounting Policies]** ## **Basis of Preparation** The Financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income or expenditure. The Financial statements are prepared in sterling which is the functional currency of the entity ## **Going Concern** There are no material uncertainties about the charity's ability to continue ## **Disclosure Exemptions** The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) no cash flow statement has been presented for the company (b) disclosures in respect of financial instruments have not been presented ## **Judgements and Key sources of estimation uncertainty** The preparation of the financial statements requires management to make judgements,estimates and assumptions that affects 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 the circumstances. ## **Fund Accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes Designated funds are unrestricted funds earmarked by the directors for particular future projects or commitments Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. ## **The St Briavels Assembly Rooms Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2020** ## **Incoming Resources** All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reasonably measured. the following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. ## **Resources Expended** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred 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 charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. ## **Tangible Assets** Tangible assets are recorded at cost, and are capitalised if they can be used for more than one year, and cost at least £500. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation. ## **Depreciation** Buildings are depreciated at £10 per annum; fixtures and fittings are depreciated at 10% of original cost per annum. ## **Stocks** Stocks are measured at the lower of cost or market value. ## **Financial Instruments** A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. ## **The St Briavels Assembly Rooms Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2020** Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. ## **4 Limited by guarantee** The St. Briavels Assembly Rooms Limited is a company limited by guarantee and accordingly does not have a share capital. Every member promises, if the company is dissolved while he or she remains a member or within one year afterwards, to pay up to £1 towards the cost of dissolution and the liabilities incurred by the charity while he or she was a member. **----- Start of picture text -----**
||||||| |---|---|---|---|---|---| |5|Donations and Legacies|Unrestricted|Total Funds|Unrestricted|Total Funds| |funds|2020|funds|2019| |£|£|£|£| |Donations|500 500 488 488| |Grants Received|- - - -| |500 500 488 488| |6|Charitable Activities|Unrestricted|Total Funds|Unrestricted|Total Funds| |funds|2019|funds|2018| |Local events and activities|24,852 24,852 25,149 25,149| |7|Investment Income|Unrestricted|Total Funds|Unrestricted|Total Funds| |funds|2020|funds|2019| |Bank Interest Receivable|£ -|[ £ - ]|[£ - £ - ]| |8|Expenditure on charitable activities by|Activities|Total Funds|Activities|Total Funds| |activity type|undertaken|2020|undertaken|2019| |directly|directly| |Resources expended|£ 20,730 £ 20,730 £ 20,294 £ 20,294| |9|Independent examination fees| |2020|2019| |Fees payable to the independent examiner for:| |Independent examination of the financial statements.|£ - £ -| **----- End of picture text -----**
## **10[Staff Costs]** There were no employees during this or the previous year ## **11 Trustee remuneration and expenses** None of the trustees received any remuneration or other benefits from employment with the charity (2019 Nil) The number of trustees who were paid expenses during the year was 3 (2019: 3). The nature of the expenses were for costs reimbursed and amounted to £927 (2019: £402) ## **The St Briavels Assembly Rooms Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2020** ## **12 Tangible Fixed Assets** |**Cost**
Additions
Revaluations
Disposals
At 31 December 2020
**Depreciation**
Charge for the year
Released on disposal
At 31 December 2020
**Carrying amount**
At 31 December 2020
At 31 December 2019
At 1 January 2020
At 1 January 2020|**Land &**
**buildings**
**Fixtures and**
**fittings**
**Total**
£
£
£
200,000
19,125 219,125
- - -
- - -
- - -
200,000
19,125 219,125
40
6,429 6,469
10 2,014 2,024
- - -
50
8,443 8,493
199,950 10,682 210,632
199,960 12,696 212,656| |---|---| ## **Tangible fixed assets held at valuation** The Freehold Land and Buildings were professionally revalued on 18th May 2015 at £200,000. the original cost was £150,000 |**13 Stocks**
**14 Debtors**
**Trade debtors**
**15 Creditors: amounts falling due within one year**
Bank loans and overdrafts
Other creditors
**16 Creditors: amounts falling due after one year**
Bank loans and overdrafts
**17 Analysis of charitable funds**
**Unrestricted funds**
**At 1st**
**January 2020**
**Income**
£
£
General funds
112,580
25,352
Revaluation reserve
50,000
-
162,580 25,352
Raw materials and consumables|**2020**
**2019**
£
£
755
1000
**2020**
**2019**
£
£
30
1,373
**2020**
**2019**
£
£
7,793
7,793
162
3,377
7,955
11,170
**2020**
**2019**
£
£
61,622
65,799
**Expenditure**
**At 31st**
**December**
**2020**
£
£
20,730
-
117,202
-
50,000
- 20,730 167,202| |---|---| ## **The St Briavels Assembly Rooms Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2020** ## **18 Analysis of net assets between funds** |Tangible fixed assets
Current assets
Creditors less than 1 year
Creditors greater than 1 year|Unrestricted
funds
**Total Funds**
**2019**
£
£
212,656 214,680
23,791 19,416
- 11,170 - 11,060
- 62,697 - 65,799
162,580 157,237| |---|---| ## **19 Additional Disclosures** The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts. ## **19.1 Incorporation** The St Briavels Assembly Rooms Ltd was incorporated on 8 April 2008. On 14 April 2008, The Charity Commission for England and Wales approved the scheme whereby The St. Briavels Assembly Rooms Ltd became the Trustee of the charity The St. Briavels Assembly Rooms Trust (no. 301610) which was formerly known as The St. Briavels Recreation and Assembly Rooms. On 18 August 2008, The Charity Commission for England and Wales directed that the charity called The St. Briavels Assembly Rooms Trust should be treated as forming part of the charity called The St. Briavels Assembly Rooms Limited (No. 1124367) for the purpose of Part II (registration) and PartVI (accounting) of the Charities Act 1993. ## **19.2 Directors and Officers during the Year** The Directors and Officers of the Company who served during the period were: |Grace Bensted|Director and Chair| |---|---| |Alan Bensted|Director| |Karen Cockfield|Director| |Elizabeth Stuart|Director| |Roger Stuart|Director| |Keith Norman|Director &| ||Company| ||Secretary.| |John Hurley|Director| |Alan Preest|Director| The Directors are the Members of the Charitable Company and are also the Trustees of the Charity.