REGISTERED COMPANY NUMBER: 07461381 (England and Wales) REGISTERED CHARITY NUMBER: 1140612
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 August 2023
for
Heswall Hall Community Trust
Dufton Kellner Limited Chartered Accountants Barnston House Beacon Lane Heswall Wirral Merseyside CH60 0EE
Heswall Hall Community Trust
Contents of the Financial Statements for the Year Ended 31 August 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Statement of Financial Position | 8 | to | 9 |
| Notes to the Financial Statements | 10 | to | 18 |
| Detailed Statement of Financial Activities | 19 | to | 20 |
Heswall Hall Community Trust
Report of the Trustees
for the Year Ended 31 August 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
The Charitable Company was formed to benefit the Community of Heswall and its surrounds with the primary purpose of taking over and managing Heswall Hall for the benefit of the community.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The Trust has therefore established a wholly owned Trading Company to undertake additional activities to help fund the Trust in the future.
Public benefit
The charity is meeting the public benefit requirement as the purpose of the charity is to benefit the community of Heswall and the surrounding area.
Page 1
Heswall Hall Community Trust
Report of the Trustees
for the Year Ended 31 August 2023
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Since reopening in July 2021 after a closure of sixteen months, we have had two full financial years of trading. In common with all community halls and hospitality venues these years have been very challenging on several fronts.
Initially, especially during our first full year 2021/22, some of our regular users found it difficult to encourage their membership back to the classes and social meetings/gatherings. However, by December 2022 we felt very encouraged by the feedback and responses from the community to our new facilities and event offerings.
The 'cost of living crisis' resulting largely from the huge increases in fuel prices throughout 2022 and 2023 has impacted the Trust, but we have been flexible and adaptable in meeting these challenges. We continue to strive to provide sustainable resources and services for our community.
Throughout 2023 we have seen our existing regular users expanding their classes, we have acquired new regular users, new hirers and new visitors, including many younger residents. Repeat bookings for regular large annual events are increasing.
The range and variety of events we offer continues to grow, and we attract a wider and broader audience not only from Heswall but across Wirral, Cheshire, and North Wales. Our ongoing strategy aims to balance and meet the needs not only of current users, but also our next and future generations.
The bar and catering partnerships continue and working together we aim to provide a first class service for weddings, parties, functions and events. The new sound and lighting facilities installed in 2021 during the closure have enabled the Trust to offer enhanced packages for private functions making Heswall Hall a desirable and affordable venue.
The unpredictable nature of the economy however continues to influence our reserves and we must regularly review our overheads and costs. It is our aim to move as soon as possible towards an operational surplus and build up our reserves. Meanwhile, the Trust continues to invest in the fabric of the building and enhance the current facilities. This year we added, with help from a generous donation, the festoon lights around the outside of the building which really adds to the appeal of our 1970s building. In addition, the night-time economy in Heswall has really grown in the last two years and we have plans to install a more sophisticated CCTV system next year.
The Trust continues to support local businesses through our active membership of the Heswall and District Business Association (whose monthly meetings are held at the Hall).
Management Review
This has been another difficult year, and we are grateful to our Trustees, staff and volunteers for their help and support. Our small staff have unfailingly risen to the challenges that working in a large community hall brings. They are, most often, the everyday face of the Trust and the first point of communication for the public, we are very grateful for their hard work and dedication this year.
The Trust is open to new applications for Trusteeship and are actively promoting the benefits of becoming a Trustee and joining our Board. In line with Charity Commission recommendations we have identified skills which we believe will help us in our future development.
No doubt next year will bring more challenges, but the Trust has a clear strategy, plans for the future and a willingness and strong desire to deliver.
FINANCIAL REVIEW
Financial position
There was an operating deficit of £27,217 (2022 £37,611) and no gains on investments (2022 £9,134) leaving unrestricted reserves of £486,740 (2022 £500,935) and restricted reserves of £43,579 (2022 £43,579) at the year end.
Page 2
Heswall Hall Community Trust
Report of the Trustees
for the Year Ended 31 August 2023
FINANCIAL REVIEW
Reserves policy
The Trustees of Heswall Hall have arrived at their reserves policy after taking into consideration the following factors.
A level of reserves is required in order to protect the future of the hall against the risk of unforeseen variances in income and for Maintenance, Refurbishment and Development works.
The level of reserves has been arrived at to ensure continuity of the Hall taking into account the monthly expenditure required for running costs and any to fund liabilities, should the hall be faced with unplanned closure.
There is a concern about the possible volatile nature of the income stream due to factors that are outside the control of the hall such as car park closures and competition from other event spaces in the area and feel it would be prudent to keep six months running costs in reserve to cover unforeseen emergencies.
The hall has invested funds that are managed with expert advice, in order to raise income for the charity and meet liabilities if so needed. These funds are readily accessible. The trustees have invested these funds with a view to an acceptable level of risk as to when the funds may be needed.
The reserves policy is reviewed by the trustees and adjusted accordingly on a regular basis but at least once a year.
The reserves exclude the restricted funds that are held by the hall.
In addition to maintaining an adequate level of reserves, the trustees are also looking at alternative income sources and new initiatives.
It is the policy of Heswall Hall Community Trust to keep reserves of £166,000; the breakdown is shown in the designated funds note.
These reserves will be monitored throughout the year and reviewed annually with reference to the budget process.
Going concern
The financial statements have been prepared on a going concern basis.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Heswall Hall Community Trust was incorporated on 6 December 2010 and registered with the Charity Commission on 28 February 2011 to enable Trustees to take into community use Heswall Hall (111 Telegraph Road, CH60 0AR) under Wirral Borough Council's Community Asset Transfer Scheme (CAT).
None of the Trustees has any beneficial interest in the Company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Page 3
Heswall Hall Community Trust
Report of the Trustees
for the Year Ended 31 August 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees
Trustees are appointed by the Trustees for a term of up to three years. The Trustees when complete consist of at least three and not more than twelve individuals.A Trustee may not act as a Trustee unless he / she:
is over the age of 18 years; and
has signed a written declaration confirming: (i) his or her willingness to act as a charity trustee of the Charity and to act only in the best interests of the Charity; (ii) any conflicts of interest or loyalty; and (iii) his or her eligibility to act as a charity trustee of the Charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07461381 (England and Wales)
Registered Charity number
1140612
Registered office
Heswall Hall 111 Telegraph Road Heswall Wirral CH60 OAF
Trustees
D J Cooley (resigned 1.4.24) S J Ellis Mrs J M Stock Mrs K A Griffith Ms S A Cannon (appointed 16.1.23) Ms K S Zelaskowski (appointed 10.11.22) W J Finch (appointed 3.10.22) (resigned 27.3.23) Ms B L Mather H McSwaine (appointed 23.10.23)
Company Secretary
Mrs J M Stock
Independent Examiner
Stuart Kellner FCA Dufton Kellner Limited Chartered Accountants Barnston House Beacon Lane Heswall Wirral Merseyside CH60 0EE
Approved by order of the board of trustees on 22 April 2024 and signed on its behalf by:
Page 4
Heswall Hall Community Trust
Report of the Trustees for the Year Ended 31 August 2023
Mrs K A Griffith - Trustee
Page 5
Independent Examiner's Report to the Trustees of Heswall Hall Community Trust
Independent examiner's report to the trustees of Heswall Hall Community Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 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 accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
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 examination, 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 145(5) (b) of the 2011 Act.
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 2006 Act; or 2. the accounts 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 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 accounts to be reached.
Stuart Kellner FCA
Dufton Kellner Limited Chartered Accountants Barnston House Beacon Lane Heswall Wirral Merseyside CH60 0EE
23 April 2024
Page 6
Heswall Hall Community Trust
Statement of Financial Activities
for the Year Ended 31 August 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 41,565 Charitable activities Room hire 82,776 Refreshments 4,730 Community events income 1,931 General - Management charges 36,005 Investment income 2 2,772 Other income - Total 169,779 EXPENDITURE ON Raising funds 3 2,021 Charitable activities General 194,975 Other - Total 196,996 Net gains on investments - NET INCOME/(EXPENDITURE) (27,217) Other recognised gains/(losses) Gains/(losses) on revaluation of fixed assets 13,022 Net movement in funds (14,195) RECONCILIATION OF FUNDS Total funds brought forward 500,935 TOTAL FUNDS CARRIED FORWARD 486,740 |
Restricted fund £ - - - - - - - - - - - - - - - - - 43,579 43,579 |
31.8.23 Total funds £ 41,565 82,776 4,730 1,931 - 36,005 2,772 - 169,779 2,021 194,975 - 196,996 - (27,217) 13,022 (14,195) 544,514 530,319 |
31.8.22 Total funds £ 4,001 66,877 33,839 104,431 6,540 - 2,636 3,313 221,637 2,897 258,352 (2,001) 259,248 9,134 (28,477) (70,873) (99,350) 643,864 544,514 |
|---|---|---|---|
The notes form part of these financial statements
Page 7
Heswall Hall Community Trust
Statement of Financial Position
31 August 2023
| Notes FIXED ASSETS Tangible assets 9 Investments 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 13 NET ASSETS FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 325,776 181,605 507,381 45,889 207 46,096 (32,534) 13,562 520,943 (34,203) 486,740 |
Restricted fund £ - - - - 43,579 43,579 - 43,579 43,579 - 43,579 |
31.8.23 Total funds £ 325,776 181,605 507,381 45,889 43,786 89,675 (32,534) 57,141 564,522 (34,203) 530,319 486,740 43,579 530,319 |
31.8.22 Total funds £ 357,676 168,231 525,907 6,120 69,895 76,015 (16,249) 59,766 585,673 (41,159) 544,514 500,935 43,579 544,514 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) 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 otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 8
Heswall Hall Community Trust
Statement of Financial Position - continued
31 August 2023
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 22 April 2024 and were signed on its behalf by:
K A Griffith - Trustee
The notes form part of these financial statements
Page 9
Heswall Hall Community Trust
Notes to the Financial Statements for the Year Ended 31 August 2023
1. 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 (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Preparation of consolidated financial statements
The financial statements contain information about Heswall Hall Community Trust as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised upon receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive 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 headings they have been allocated to activities on a basis consistent 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.
| Theatre | - 10% on cost |
|---|---|
| Improvements to property | - 4% on cost |
| Computers & equipment | - 33% on cost |
| Fixtures and fittings | - 10% on cost |
Related party exemption
The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
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.
continued...
Page 10
Heswall Hall Community Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
1. ACCOUNTING POLICIES - continued
Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-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.
2. INVESTMENT INCOME
3.
4.
| INVESTMENT INCOME | ||
|---|---|---|
| 31.8.23 | 31.8.22 | |
| £ | £ | |
| Other fixed asset invest - FII | 2,772 | 2,597 |
| Deposit account interest | - | 39 |
| 2,772 | 2,636 | |
| RAISING FUNDS | ||
| Investment management costs | ||
| 31.8.23 | 31.8.22 | |
| £ | £ | |
| Portfolio management | 2,021 | 2,897 |
| NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting):
| 31.8.23 | 31.8.22 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 38,943 | 38,021 |
| Surplus on disposal of fixed assets | - | (5,314) |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
continued...
Page 11
Heswall Hall Community Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
7.
| 31.8.23 | 31.8.22 | ||
|---|---|---|---|
| Hall manager | 1 | 1 | |
| Hall assistants / other staff | 5 | 5 | |
| 6 | 6 | ||
| No employees received emoluments in excess of £60,000. | |||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | ||
| Unrestricted | Restricted | Total | |
| fund | fund | funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 4,001 | - | 4,001 |
| Charitable activities | |||
| Room hire | 66,877 | - | 66,877 |
| Refreshments | 33,839 | - | 33,839 |
| Community events income | 104,431 | - | 104,431 |
| General | 6,540 | - | 6,540 |
| Investment income | 2,636 | - | 2,636 |
| Other income | 3,313 | - | 3,313 |
| Total | 221,637 | - | 221,637 |
| EXPENDITURE ON | |||
| Raising funds | 2,897 | - | 2,897 |
| Charitable activities | |||
| General | 258,352 | - | 258,352 |
| Other | (2,001) | - | (2,001) |
| Total | 259,248 | - | 259,248 |
| Net gains on investments | 9,134 | - | 9,134 |
| NET INCOME/(EXPENDITURE) | (28,477) | - | (28,477) |
| Other recognised gains/(losses) | |||
| Gains/(losses) on revaluation of fixed assets | (70,873) | - | (70,873) |
| Net movement in funds | (99,350) | - | (99,350) |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 600,285 | 43,579 | 643,864 |
continued...
Page 12
Heswall Hall Community Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund fund £ £ TOTAL FUNDS CARRIED FORWARD 500,935 43,579 8. INDEPENDENT EXAMINER'S REMUNERATION The independent examination fee is £1,000 plus VAT. 9. TANGIBLE FIXED ASSETS Improvements Fixtures to Computers and Theatre property & equipment fittings £ £ £ £ COST At 1 September 2022 299,904 133,142 5,330 18,874 Additions - 1,650 - 5,393 At 31 August 2023 299,904 134,792 5,330 24,267 DEPRECIATION At 1 September 2022 59,586 24,920 3,695 11,373 Charge for year 29,991 5,930 817 2,205 At 31 August 2023 89,577 30,850 4,512 13,578 NET BOOK VALUE At 31 August 2023 210,327 103,942 818 10,689 At 31 August 2022 240,318 108,222 1,635 7,501 10. FIXED ASSET INVESTMENTS Shares in Cash and group Listed settlements undertakings investments pending £ £ £ MARKET VALUE At 1 September 2022 1 145,718 22,512 Additions - - 352 Revaluations - 13,022 - At 31 August 2023 1 158,740 22,864 NET BOOK VALUE At 31 August 2023 1 158,740 22,864 At 31 August 2022 1 145,718 22,512 |
Total funds £ 544,514 Totals £ 457,250 7,043 464,293 99,574 38,943 138,517 325,776 357,676 Totals £ 168,231 352 13,022 181,605 181,605 168,231 |
Total funds £ |
|---|---|---|
| 544,514 |
continued...
Page 13
Heswall Hall Community Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
10. FIXED ASSET INVESTMENTS - continued
There were no investment assets outside the UK.
Cost or valuation at 31 August 2023 is represented by:
| Shares in Cash and group Listed settlements undertakings investments pending £ £ £ Valuation in 2022 - 55,068 - Valuation in 2023 - 12,969 - Cost 1 90,703 22,864 1 158,740 22,864 |
Totals £ 55,068 12,969 113,568 |
|---|---|
| 181,605 |
The company's investments at the balance sheet date in the share capital of companies include the following:
Heswall Hall Trading Limited
| Heswall Hall Trading Limited | |||||
|---|---|---|---|---|---|
| Registered office: UK | |||||
| Nature of business: Events | |||||
| % | |||||
| Class of share: | holding | ||||
| Ordinary | 100 | ||||
| 31.8.23 | 31.8.22 | ||||
| £ | £ | ||||
| Aggregate capital and reserves | 1 | (7) | |||
| 11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.8.23 | 31.8.22 | ||||
| £ | £ | ||||
| Trade debtors | 4,962 | 4,445 | |||
| Amounts owed by group undertakings | 40,241 | - | |||
| Prepayments and accrued income | 686 | 1,675 | |||
| 45,889 | 6,120 |
continued...
Page 14
Heswall Hall Community Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 31.8.23 | 31.8.22 | ||
| £ | £ | ||
| Bank loans and overdrafts (see note 14) | 6,000 | 5,000 | |
| Trade creditors | 6,623 | 2,348 | |
| Social security and other taxes | - | (517) | |
| VAT | 5,457 | 2,168 | |
| Other creditors | 543 | 520 | |
| Deferred income | 9,922 | 3,072 | |
| Accrued expenses | 3,989 | 3,658 | |
| 32,534 | 16,249 | ||
| 13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||
| 31.8.23 | 31.8.22 | ||
| £ | £ | ||
| Bank loans (see note 14) | 34,203 | 41,159 | |
| 14. | LOANS | ||
| An analysis of the maturity of loans is given below: | |||
| 31.8.23 | 31.8.22 | ||
| £ | £ | ||
| Amounts falling due within one year on demand: | |||
| Bank loans | 6,000 | 5,000 | |
| Amounts falling between one and two years: | |||
| Bank loans - 1-2 years | 6,000 | 5,000 | |
| Amounts falling due between two and five years: | |||
| Bank loans - 2-5 years | 18,000 | 15,000 | |
| Amounts falling due in more than five years: | |||
| Repayable by instalments: | |||
| Bank loans more 5 yr by instal | 10,203 | 21,159 |
Page 15
continued...
Heswall Hall Community Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
15. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Riverside Players TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 169,779 TOTAL FUNDS 169,779 Comparatives for movement in funds Unrestricted funds General fund Restricted funds Riverside Players TOTAL FUNDS |
At 1.9.22 £ 500,935 43,579 544,514 Resources expended £ (196,996) (196,996) At 1.9.21 £ 600,285 43,579 643,864 |
Net movement At in funds 31.8.23 £ £ (14,195) 486,740 - 43,579 (14,195) 530,319 Gains and Movement losses in funds £ £ 13,022 (14,195) 13,022 (14,195) Net movement At in funds 31.8.22 £ £ (99,350) 500,935 - 43,579 (99,350) 544,514 |
|---|---|---|
Page 16
continued...
Heswall Hall Community Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
15. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 221,637 221,637 |
Resources expended £ (259,248) (259,248) |
Gains and Movement losses in funds £ £ (61,739) (99,350) (61,739) (99,350) |
Gains and Movement losses in funds £ £ (61,739) (99,350) (61,739) (99,350) |
|---|---|---|---|---|
| (99,350) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Riverside Players TOTAL FUNDS |
At 1.9.21 £ 600,285 43,579 643,864 |
Net movement in funds £ (113,545) - (113,545) |
At 31.8.23 £ 486,740 43,579 |
|---|---|---|---|
| 530,319 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 391,416 391,416 |
Resources expended £ (456,244) (456,244) |
Gains and Movement losses in funds £ £ (48,717) (113,545) (48,717) (113,545) |
Gains and Movement losses in funds £ £ (48,717) (113,545) (48,717) (113,545) |
|---|---|---|---|---|
| (113,545) |
continued...
Page 17
Heswall Hall Community Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
16. RELATED PARTY - HESWALL HALL TRADING LIMITED
Heswall Hall Trading Limited (HHT) is a wholly owned subsidiary of the charity. This year, direct income and expenses relating to events held at Heswall Hall have been included in the accounts of the subsidiary, Heswall Hall trading Limited (HHT). Heswall Hall Community Trust has recharged HHT for staff and other costs incurred on their behalf. The remaining profit in HHT has then been donated to Heswall Hall Community Trust and appears in these accounts as 'Donations'. Last year, such income and costs were still carried by Heswall Hall Community Trust and so appear in the comparatives. At the year end, HHT owed the charity £40,241 (2022 nil), which was paid in full after the year-end.
17. DESIGNATED FUNDS
Designated funds of £166,000 have been earmarked at the year end, which are included within unrestricted reserves.This comprises the following:-
Six months operational costs £74,000 Capital expenditure £30,000 Community development fund £23,000 Current liabilities (BBL) £39,000
Page 18
Heswall Hall Community Trust
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 August 2023 | ||
| 31.8.23 | 31.8.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 41,565 | 1 |
| Grants | - | 4,000 |
| 41,565 | 4,001 | |
| Investment income | ||
| Other fixed asset invest - FII | 2,772 | 2,597 |
| Deposit account interest | - | 39 |
| 2,772 | 2,636 | |
| Charitable activities | ||
| Room hire | 82,776 | 94,862 |
| Refreshments | 4,730 | 33,839 |
| Community events income | 1,931 | 82,986 |
| Management charges | 36,005 | - |
| 125,442 | 211,687 | |
| Other income | ||
| Other income | - | 3,313 |
| Total incoming resources | 169,779 | 221,637 |
| EXPENDITURE | ||
| Investment management costs | ||
| Portfolio management | 2,021 | 2,897 |
| Charitable activities | ||
| Wages | 64,684 | 50,025 |
| Pensions | 1,035 | 613 |
| Rates and water | 1,623 | 1,495 |
| Insurance | 4,652 | - |
| Light and heat | 22,715 | 10,684 |
| Telephone | 1,180 | 741 |
| Postage and stationery | 60 | 63 |
| Advertising | 9,592 | 14,729 |
| Sundries | 1,784 | 1,629 |
| Cleaning & waste disposal | 19,613 | 17,010 |
| Refreshment costs | 2,374 | 8,803 |
| Carried forward | 129,312 | 105,792 |
This page does not form part of the statutory financial statements
Page 19
Heswall Hall Community Trust
Detailed Statement of Financial Activities for the Year Ended 31 August 2023
| Detailed Statement of Financial Activities for the Year Ended 31 August 2023 |
||
|---|---|---|
| 31.8.23 | 31.8.22 | |
| £ | £ | |
| Charitable activities | ||
| Brought forward | 129,312 | 105,792 |
| Repairs & maintenance | 11,326 | 9,609 |
| Community event costs | 3,213 | 92,045 |
| Computer costs | - | 377 |
| Bad debts | - | 30 |
| Licences | 4,918 | - |
| Depn of theatre | 29,991 | 29,990 |
| Improvements to property | 5,930 | 5,327 |
| Plant and machinery | 817 | 817 |
| Fixtures and fittings | 2,205 | 1,887 |
| 187,712 | 245,874 | |
| Other | ||
| Loss on sale of tangible fixed assets | - | (2,001) |
| Support costs | ||
| Finance | ||
| Bank charges | 276 | 2,795 |
| Bank loan interest | 1,084 | - |
| 1,360 | 2,795 | |
| Governance costs | ||
| Accountancy fees | 3,830 | 5,520 |
| Professional fees | 2,073 | 4,163 |
| 5,903 | 9,683 | |
| Total resources expended | 196,996 | 259,248 |
| Net expenditure before gains and losses | (27,217) | (37,611) |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset investments | - | 9,134 |
| Net expenditure | (27,217) | (28,477) |
This page does not form part of the statutory financial statements
Page 20