Bishops Nympton Parish Hall Trust
Charity No. 1138614
Company No. 07353770
Trustees' Report and Unaudited Accounts
30 June 2023
Bishops Nympton Parish Hall Trust Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 3 | |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Summary Income and Expenditure Account | 6 | |
| Balance Sheet | 7 | |
| Notes to the Accounts | 8 to | 14 |
| Detailed Statement of Financial Activities | 15 to | 16 |
Page 1
Bishops Nympton Parish Hall Trust Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 June 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 07353770
Charity No. 1138614
Principal Office
Parish Hall Spire Lake Close Bishops Nympton South Molton EX36 4NT
Registered Office
Parish Hall Spirelake Close Bishops Nympton South Molton EX36 4NT
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
K. Bevan (Resigned 20 October 2022) I.P. Cowling S. Partridge (Resigned 20 October 2022) L. Pugsley (Resigned 20 October 2022) L. Pugsley (Resigned 20 October 2022) N.J. Shapcott
S. Tout
L. Verney
Accountants
Accountancy Edge Limited 12 Culm Close
Bideford Devon EX39 4AX
Page 2
Bishops Nympton Parish Hall Trust Trustees Annual Report
OBJECTIVES AND ACTIVITIES
The provision and maintenance of a village hall for the use of the inhabitants of the parish of Bishops Nympton and the neighbourhood thereof without distinction of political religious or other opinions, including use for meetings, lectures and classes and for other forms of recreation and leisure-time occupation with the object of improving conditions of life for the said inhabitants.
The parish hall is used for meetings, lectures, classes and for other forms of recreation and leisure time occupation with the object of improving the considitions of life for the residents of the parish.
The trustees have given due consideration to the Charity Commission's guidance on the public benefit requirement.
ACHIEVEMENTS AND PERFORMANCE
The charity achieved its objectives of running the parish hall to generate a surplus for the future maintenance and upgrading of the hall.
FINANCIAL REVIEW
The charity achieved an operating surplus of £19,772. This was in part due to the receipt of £17,000 in grants from North Devon Council which helped offset increased energy costs and the cost of the ongoing repairs and maintenance programme.
It is the policy of the charity that sufficient unrestricted funds should be held to finance three to six months expenditure. The trustees consider that reserves maintained at this level will ensure that, in the event of a drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which funds might be raised.
The level of unrestricted cash reserves held is currently above this level. The trustees believe this is satisfactory given the long term maintenance commitments for the hall.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is a company limited by guarantee, incorporated on 23 August 2010 and registered a charity on 27 October 2010. It is governed by a memorandum and articles of association dated 23 August 2010. It commenced operation on 27 October 2010.
The charity is actively seeking new trustees and is advertising the current vacancies on its website. New trustees are supported in their induction by current trustees and provided with access to minutes of previous meetings. They are also provided with publications like the Charity Commission's CC3, "The Essential Trustee".
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
I.P. Cowling Trustee 20 November 2023
Page 3
Bishops Nympton Parish Hall Trust Independent Examiners Report
Independent Examiner's Report to the trustees of Bishops Nympton Parish Hall Trust
I report to the charity trustees on my examination of the financial statements of Bishops Nympton Parish Hall Trust for the year ended 30 June 2023.
Responsibilities and basis of report
As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements 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 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements 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 Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
James Hellyer FCA ICAEW Chartered Accountant
Accountancy Edge Limited
12 Culm Close Bideford Devon
EX39 4AX 20 November 2023
Page 4
Bishops Nympton Parish Hall Trust Statement of Financial Activities
for the year ended 30 June 2023
| Notes Income and endowments from: Donations and legacies 4 Charitable activities 5 Investments 6 Other 7 Total Expenditure on: Charitable activities 8 Other 9 Total Net gains on investments Net income 10 Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2023 £ 27,000 15,821 444 5,269 |
Restricted funds 2023 £ - - - - |
Total funds 2023 £ 27,000 15,821 444 5,269 |
Total funds 2022 £ 12,667 17,628 - 4,434 |
|---|---|---|---|---|
| 48,534 5,709 22,401 |
- - 652 |
48,534 5,709 23,053 |
34,729 5,004 17,966 |
|
| 28,110 - |
652 - |
28,762 - |
22,970 - |
|
| 20,424 - |
(652) - |
19,772 - |
11,759 - |
|
| 20,424 | (652) | 19,772 | 11,759 | |
| 20,424 899,162 |
(652) 3,213 |
19,772 902,375 |
11,759 890,616 |
|
| 919,586 | 2,561 | 922,147 | 902,375 |
Page 5
Bishops Nympton Parish Hall Trust Summary Income and Expenditure Account
for the year ended 30 June 2023
| Income Interest and investment income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net income before tax for the year Net income for the year |
2023 £ 48,090 444 48,534 26,690 2,072 28,762 19,772 19,772 |
2022 £ 34,729 - |
|---|---|---|
| 34,729 | ||
| 20,533 2,437 |
||
| 22,970 | ||
| 11,759 | ||
| 11,759 |
Page 6
Bishops Nympton Parish Hall Trust Balance Sheet
at 30 June 2023
| Company No. 07353770 Notes 2023 £ Fixed assets Tangible assets 13 825,236 825,236 Current assets Debtors 14 13,049 Cash at bank and in hand 86,171 99,220 Creditors:Amount falling due within one year 15 (2,309) Net current assets 96,911 Total assets less current liabilities 922,147 Net assets excluding pension asset or liability 922,147 Total net assets 922,147 The funds of the charity Restricted funds 16 Restricted income funds 2,561 2,561 Unrestricted funds 16 General funds 919,586 919,586 Reserves 16 Total funds 922,147 |
2022 £ 827,308 |
|---|---|
| 827,308 12,771 65,136 |
|
| 77,907 (2,840) |
|
| 75,067 902,375 |
|
| 902,375 | |
| 902,375 | |
| 3,213 | |
| 3,213 899,162 |
|
| 899,162 | |
| 902,375 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 30 June 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 20 November 2023
And signed on its behalf by:
I.P. Cowling Trustee
20 November 2023
Page 7
Bishops Nympton Parish Hall Trust Notes to the Accounts
for the year ended 30 June 2023
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 8
Bishops Nympton Parish Hall Trust Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and
-
charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold property 0% straight-line Plant and machinery 15% reducing balance
The freehold property is depreciated at 0% because its long economic life and high residual value mean that any such charge would be clearly trifiling. In addition the programme of repairs and maintenance keeps the asset to its previously assessed standard of performance. No indication of impairment were present at the reporting date or the date of the approval of these accounts.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Page 9
Bishops Nympton Parish Hall Trust Notes to the Accounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
3 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Charitable activities Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 12,667 17,628 4,434 34,729 5,004 17,399 22,403 12,326 12,326 12,326 886,836 899,162 |
Restricted funds 2022 £ - - - - - 567 567 (567) (567) (567) 3,780 3,213 |
Total funds 2022 £ 12,667 17,628 4,434 |
|---|---|---|---|
| 34,729 5,004 17,966 |
|||
| 22,970 | |||
| 11,759 | |||
| 11,759 | |||
| 11,759 890,616 |
|||
| 902,375 |
Page 10
Bishops Nympton Parish Hall Trust Notes to the Accounts
4 Income from donations and legacies
| Donations Grants receivable 5 Income from charitable activities Hall hire 6 Income from investments Bank interest receivable 7 Other income Feed-in-tarriff 8 Expenditure on charitable activities Expenditure on charitable activities Hall hire Caretaker Governance costs Trustee's expenses |
Unrestricted £ 10,000 17,000 27,000 Unrestricted £ 15,821 15,821 Unrestricted £ 444 444 Unrestricted £ 5,269 5,269 |
Total 2023 £ 10,000 17,000 27,000 Total 2023 £ 15,821 15,821 Total 2023 £ 444 444 Total 2023 £ 5,269 5,269 |
Total 2022 £ 10,000 2,667 |
|---|---|---|---|
| 12,667 | |||
| Total 2022 £ 17,628 |
|||
| 17,628 | |||
| Total 2022 £ - |
|||
| - | |||
| Total 2022 £ 4,434 |
|||
| 4,434 | |||
| Unrestricted £ 395 2,825 2,489 5,709 |
Total 2023 £ 395 2,825 2,489 5,709 |
Total 2022 £ 1,050 2,400 1,554 |
|
| 5,004 |
Page 11
Bishops Nympton Parish Hall Trust Notes to the Accounts
9 Other expenditure
| Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 10 Net income before transfers This is stated after charging: Depreciation of owned fixed assets Independent Examiner's fee 11 Trustee remuneration and expenses Number of trustees paid expenses The nature of the reimbursed expenses |
Unrestricted Restricted Total Total 2023 2022 £ £ £ £ 10,706 - 10,706 5,509 1,420 652 2,072 2,437 6,635 - 6,635 8,590 3,640 - 3,640 1,430 22,401 652 23,053 17,966 2023 2022 £ £ 2,072 2,437 1,200 1,430 2023 2022 Number Number 2 2 Out-of-pocket expenses as required for the day-to-day running of the charity. |
Total 2022 £ 5,509 2,437 8,590 1,430 |
|---|---|---|
| 17,966 |
12 Staff costs
No employee received emoluments in excess of £60,000.
13 Tangible fixed assets
| Cost or revaluation At 1 July 2022 At 30 June 2023 Depreciation and impairment At 1 July 2022 Depreciation charge for the year At 30 June 2023 Net book values At 30 June 2023 At 30 June 2022 |
Land and buildings £ 813,497 813,497 - - - 813,497 813,497 |
Plant and machinery £ 38,600 38,600 24,789 2,072 26,861 11,739 13,811 |
Total £ 852,097 |
|---|---|---|---|
| 852,097 | |||
| 24,789 2,072 |
|||
| 26,861 | |||
| 825,236 | |||
| 827,308 |
Page 12
Bishops Nympton Parish Hall Trust Notes to the Accounts
14 Debtors
| 14 Debtors | ||||
|---|---|---|---|---|
| Trade debtors Prepayments and accrued income 15 Creditors: amounts falling due within one year Other creditors Accruals 16 Movement in funds Restricted funds: Restricted income funds: Stage Fund Awards for All Total Unrestricted funds: General funds Total funds |
At 1 July 2022 1,508 1,705 3,213 899,162 902,375 |
2023 £ 12,740 309 13,049 2023 £ 1,109 1,200 2,309 Incoming resources (including other gains/losses ) £ - - - 48,534 48,534 |
Resources expended £ (226) (426) (652) (28,110) (28,762) |
2022 £ 12,642 129 |
| 12,771 | ||||
| 2022 £ 1,400 1,440 |
||||
| 2,840 | ||||
| At 30 June 2023 £ 1,282 1,279 |
||||
| 2,561 | ||||
| 919,586 | ||||
| 922,147 |
Purposes and restrictions in relation to the funds:
Restricted funds: Stage Fund This fund financed the construction of a new stage in the hall. Its value comprises the written down cost of the stage Awards for All This fund financed the purchase of various fixed assets. Its value represents the written down costs of those assets.
17 Analysis of net assets between funds
| Fixed assets Net current assets |
Unrestricted funds £ 822,675 96,602 919,277 |
Restricted funds £ 2,561 309 2,870 |
Total £ 825,236 96,911 |
|---|---|---|---|
| 922,147 |
Page 13
Bishops Nympton Parish Hall Trust Notes to the Accounts
18 Reconciliation of net debt
| Cash and cash equivalents Net debt |
At 1 July 2022 £ |
Cash flows £ |
At 30 June 2023 £ |
|---|---|---|---|
| 65,136 | 21,035 | 86,171 | |
| 65,136 65,136 |
21,035 21,035 |
86,171 | |
| 86,171 |
19 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 14
Bishops Nympton Parish Hall Trust Detailed Statement of Financial Activities
for the year ended 30 June 2023
| Income and endowments from: Donations and legacies Donations Grants receivable Charitable activities Hall hire Investments Bank interest receivable Other Feed-in-tarriff Total income and endowments Expenditure on: Charitable activities Hall hire Caretaker Governance costs Trustee's expenses Total of expenditure on charitable activities Premises costs Rates Light, heat and power Premises cleaning General administrative costs, including depreciation and amortisation Depreciation of Plant and machinery Depreciation of Equipment expensed Equipment repairs and maintenance |
Unrestricted funds 2023 £ 10,000 17,000 27,000 15,821 15,821 444 444 5,269 5,269 48,534 395 2,825 3,220 2,489 2,489 5,709 2,787 5,387 2,532 10,706 - 1,420 307 3,548 |
2023 £ - - - - - - - - - - - - - - - - - - - - - 652 - - |
Total funds 2023 £ 10,000 17,000 27,000 15,821 15,821 444 444 5,269 5,269 48,534 395 2,825 3,220 2,489 2,489 5,709 2,787 5,387 2,532 10,706 - 2,072 307 3,548 |
Total funds 2022 £ 10,000 2,667 |
|---|---|---|---|---|
| 12,667 | ||||
| 17,628 | ||||
| 17,628 | ||||
| - | ||||
| - | ||||
| 4,434 | ||||
| 4,434 | ||||
| 34,729 1,050 2,400 |
||||
| 3,450 | ||||
| 1,554 | ||||
| 1,554 | ||||
| 5,004 (792) 4,353 1,948 |
||||
| 5,509 | ||||
| - 2,437 - 5,850 |
Page 15
Bishops Nympton Parish Hall Trust Detailed Statement of Financial Activities
| General insurances Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Management charges Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
1,653 426 229 472 8,055 1,200 2,440 3,640 22,401 28,110 - 20,424 20,424 - 20,424 899,162 919,586 |
- - - - 652 - - - 652 652 - (652) (652) - (652) 3,213 2,561 |
1,653 426 229 472 8,707 1,200 2,440 3,640 23,053 28,762 - 19,772 19,772 - 19,772 902,375 922,147 |
1,559 584 159 438 |
|---|---|---|---|---|
| 11,027 | ||||
| 1,430 - |
||||
| 1,430 | ||||
| 17,966 | ||||
| 22,970 - |
||||
| 11,759 | ||||
| 11,759 - |
||||
| 11,759 | ||||
| 890,616 | ||||
| 902,375 |
Page 16