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2020-12-31-accounts

COMPANY REGISTRATION NUMBER: 07479975 CHARITY REGISTRATION NUMBER: 1141442

THORNHAM VILLAGE HALL AND PLAYING FIELD

COMPANY LIMITED BY GUARANTEE

UNAUDITED FINANCIAL STATEMENTS

31 DECEMBER 2020

KATHRYN GIGG

Chartered Accountants, Business Advisers & Tax Consultants

20 King’s Lynn Road

Hunstanton Norfolk PE36 5HP

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Financial statements

Year ended 31 December 2020

Page
Trustees’ annual report (incorporating the director’s report) 1
Independent examiner’s report to the trustees 7
Statement of financial activities (including income and expenditure account) 8
Balance sheet 9
Notes to the financial statements 10

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Trustees’ annual report (incorporating the director’s report)

Year ended 31 December 2020

The trustees who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2020.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Companies Act 2006 and 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 (FRS102) (effective 1 January 2015) (as amended by Update Bulletin 1 published on 2 February 2016).

Reference and administrative details

Registered charity name Thornham Village Hall and Playing Field Charity registration number 1141442 Company registration number 07479975 Principal office and registered office Thornham Village Hall High Street Thornham Hunstanton Norfolk PE36 6LX

The trustees

The trustees who served during the year and at the date of approval were as follows:

J J Warham S C Herbert A D Jamieson Mrs S C Mocatta A W Morris (deceased 19 February 2021) S A E Staveley M A Wakefield Mrs E L Watson J W H Cave (appointed 3 September 2020)

Page 1

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Trustees’ annual report (incorporating the director’s report) (continued) Year ended 31 December 2020

Company secretary S A E Staveley
Independent examiner Kathryn Gigg FCA
Kathryn Gigg Chartered Accountants
The Office
20 King’s Lynn Road
Hunstanton
Norfolk
PE36 5HP
Bankers Barclays Bank Plc
21 Tuesday Market Place
King’s Lynn
Norfolk
PE30 1JX
Solicitors Hayes + Storr
The Old County Court
County Court Road
King’s Lynn
Norfolk
PE30 5ES

Page 2

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Trustees’ annual report (incorporating the director’s report) (continued)

Year ended 31 December 2020

Objectives and activities

The charity’s objectives are to establish and run a village hall, together with providing and maintaining a sports and recreational ground including a children’s playground. The charity aims to promote health through healthy recreation, advancement of arts and culture through access to entertainment and exhibitions and advancement of amateur sport through providing sports facilities.

Public benefit

The Trustees have had due regard to the Charity Commission’s guidelines on public benefit and consider that now the village hall has been fully established, benefit is being gained by the inhabitants of the area without distinction and for the public at large.

Achievements and performance

I would like to start my report by paying tribute to our friend and colleague, Tony Morris, who died earlier this year. Tony was the Hall Committee Chairman, who just quietly got on with the business of running thing without any overt fuss. He worked away assiduously behind the scenes and made sure that things got done. We will miss him and his quiet sense of humour. Jeremy Cave has taken on Tony’s role as Hall Committee Chairman and the work continues under Jeremy’s able stewardship.

2020 was the Year of Covid for us all, and the Hall was no exception. We shut down all our operations in line with the Government guidelines, and only now are we beginning to open up again, slowly and cautiously, wherever we can do so safely. Fortunately, thanks to our cost cutting exercises and Government grants we were able to get through the year without any serious depletion of our reserves, and the Hall finances remain in good shape. Once again we are reminded of the importance of a sound Reserves Policy which has stood us in good stead. Should the need arise, we would be able to cope with another two years of adversity. Thanks are due to Stephanie and her team, Sally and Emma, for keeping the accounts in good shape.

During the year, we addressed the increasing H&S concerns regarding congestion and bottlenecking due to heavy usage of the car park at peak periods, by constructing a new exit. Work on this has been completed, new signs have been erected, and an “In and Out” one way system has been introduced. In addition, a Pay and Display system was introduced last October which is further helping to control numbers using the car park. Proceeds from the car park charges will be used, in the first instance, to offset the expenditure of almost £30,000 on the new exit. The Trustees will keep the tariff system under review and will try to ensure that Hall users can, as a general rule, use the facilities at no extra charge.

To enable us to keep in touch with our customer base during lockdown, an electronic Newsletter was launched by Stephanie. This has proved to be most popular and is widely read by more than 550 people on our mailing list.

Page 3

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Trustees’ annual report (incorporating the director’s report) (continued)

Year ended 31 December 2020

Throughout the Covid crisis, our groundsman, Adrian Siddle, has worked hard on steadily improving the playing field, which looks better than ever. His efforts are being rewarded and this year the Cricket Club has been chosen to host a Norfolk wide 3 day cricket event.

I end my report, as I do every year, with grateful thanks to my fellow Trustees, members of the Hall Committee and all our volunteers, without whose unstinting efforts, simply nothing would happen.

Covid-19 Support

During the year to 31 December 2020 the Charity has been able to claim a total of £22,668 from King’s Lynn & West Norfolk Borough Council in relation to Business Support Grants.

Financial review

The financial statements for the year show net income before depreciation of £30,150 (2019: £16,233).

The charity had overall net deficit of £6,382 (2019: deficit £26,601) after depreciation of £36,532. (2019: £42,834.

Reserves policy

The Trustees are aware that there is a long term need to repair, maintain and replace the assets in their control in order to sustain the quality and performance of these assets. This commitment is under constant review together with the need to improve the range of activities provided. To meet these needs the Trustees believe that reserves in the region of £85,000 will be required and will ensure reserves are kept to that level.

The charity currently holds £142,587 (2019: £112,438) in net current assets. Of these reserves £50,065. (2019: £48,365) is held within restricted funds specifically for the upkeep of the hall, playing field and MUGA.

There has been an impact on the Charity reserves as a result of the Covid-19 pandemic and the Trustees are aware of this and are working towards increasing the reserves held.

Plans for future periods

Looking ahead we are hoping to plan for a more normal 2021, although the first half of the year has still been badly affected by Covid. We will continue to review the situation with the Car Park and payments that we receive. We hope that the funding from the Car Park will reduce the pressure on Trustees to constantly fund-raise to meet everyday expenses and allow us to focus on projects that are for the benefit of Thornham Village Hall & Playing Field as well as the whole Thornham community.

Structure, governance and management

Governing document

Thornham Village Hall and Playing Field is a company limited by guarantee and is a registered charity governed by its Memorandum and Articles of Association. It was incorporated on 30 December 2010 and registered as a charity on 14 April 2011.

Page 4

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Trustees’ annual report (incorporating the director’s report) (continued)

Year ended 31 December 2020

Structure, governance and management (continued)

Recruitment, appointment and training of Trustees

Trustees shall be persons who through residence, occupation, employment or otherwise have special knowledge of the area of benefit or who are otherwise able by virtue of their personal or professional qualifications to make a contribution to the pursuit of the objects of the charity. In accordance with the Articles of Association, the Trustees as a body will include one trustee appointed by Thornham Parish Council. The Trustees are also able to co-opt four Trustees, with four trustees being elected at the A.G.M.

On appointment, Trustees are provided with:

In addition, the Trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.

The Trustees are directors within the meaning of the Companies Act 2006.

During the period under review, the Trustees were as listed on page 1.

A skills audit was carried out previously to identify the strengths and weaknesses within the charity. This will enable the charity to maximise its areas of expertise and attract future Trustees who will enhance the skills of the current board.

Risk appraisal

The Trustees acknowledge the Charity Commission’s guidelines regarding reviewing major risks to which the charity is exposed. A financial risk assessment was undertaken previously as required by the Big Lottery Fund. Operational risks faced by the charity are reviewed on an ongoing basis and a full Health & Safety audit is conducted by a company who are experts in that field. An annual strategy meeting is held at which an all risks review is undertaken.

The key risks faced by the charity are:

Organisational structure

The Trustees meet at least quarterly or more frequently as required.

Independent examiner

Mrs Kathryn Gigg FCA of Kathryn Gigg has been appointed as independent examiner for the ensuing year.

Page 5

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Trustees’ annual report (incorporating the director’s report) (continued)

Year ended 31 December 2020

The Trustees’ annual report was approved on … July 2021 and signed on behalf of the board of trustees by:

J Warham (Chairman) Trustee

Page 6

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Independent examiner’s report to the trustees of Thornham Village Hall and Playing Field Year ended 31 December 2020

I report to the charity Trustees on my examination of the financial statements of the company for the year ended 31 December 2020 which comprise the statement of financial activities (including income and expenditure account), balance sheet and the related notes.

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 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 company’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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. Accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or, 2. The financial statements do not accord with those records; or

  2. The financial statements 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

  3. 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 accounts to be reached.

Mrs Kathryn Gigg FCA Independent Examiner

Kathryn Gigg Chartered Accountants The Office 20 King’s Lynn Road Hunstanton Norfolk PE36 5HP

…… July 2021

Page 7

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Statement of financial activities

(including income and expenditure account)

Year ended 31 December 2020

Note
Income and endowments
Donations and legacies
5
Covid Support
Charitable activities
6
Other trading activities
7
Investment income
8
Other income
9
Total income
Expenditure
Expenditure on raising funds:
Costs of other trading activities
10
Expenditure on charitable activities
11
Total expenditure
Net income/(expenditure) before
transfer of funds
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
12,940
22,668
7,225
30,655
783
337
74,608
(7,777)
(74,913)
(82,690)
(8,082)
-
(8,082)
291,889
283,807		 2020
Restricted
Funds
£
1,700
-
-
-
-
-
1,700
-
-
-
1,700
-
1,700
572,105
573,805		 Total
Funds
£
14,640
22,668
7,225
30,655
783
337
76,308
(7,777)
(74,913)
(82,690)
(6,382)
-
(6,382)
863,994
857,612		 2019
Total
Funds
£
17,346
-
20,768
43,099
2,162
330
83,705
(15,668)
(94,638)
(110,306)
(26,601)
-
(26,601)
890,595
863,994

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 10 to 20 form part of these financial statements

Page 8

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Balance sheet

Year ended 31 December 2020

Note
Fixed assets
Tangible fixed assets
17
Current assets
Stocks
18
Debtors
19
Cash at bank and in hand
Creditors: Amounts falling due within
one year
20
Net current assets
Total assets less current liabilities
Net assets
Funds of the charity
Restricted funds
Unrestricted funds
Total charity funds
22		 2020
£
£
715,025
2,330
2,529
141,226
146,085
(3,498)
142,587
857,612
857,612
573,805
283,807
857,612		 2019
£
£
751,556
834
837
127,532
129,203
(16,765)
112,438
863,994
863,994
572,105
291,889
863,994		 2019
£
£
751,556
834
837
127,532
129,203
(16,765)
112,438
863,994
863,994
572,105
291,889
863,994
863,994
863,994
572,105
291,889
863,994

For the year ending 31 December 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

These financial statements 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 on …. July 2021, and are signed on behalf of the board by:

J Warham (Chairman) Trustee

Company registration number: 07479975

The notes on pages 10 to 20 form part of these financial statements

Page 9

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Notes to the financial statements

Year ended 31 December 2020

1. General information

The charity is a public benefit entity and 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 Thornham Village Hall, High Street, Thornham, Norfolk PE36 6LX.

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 (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006 and the Charities Act 2011. The charity has applied Update Bulletin 1 as published on 2 February 2016.

The charity constitutes a public benefit entity as defined by FRS 102.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Going concern

The accounts have been prepared on the going concern basis and the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected income and expenditure for the next 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Trust to be able to continue as a going concern.

(c) Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Page 10

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2020

3. Accounting policies (continued)

(d) Income

All income is 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 reliably measured. The following specific policies are applied to particular categories of income:

(e) Expenditure

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:

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. Share costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

(f) Tangible assets

Fixed assets are stated at cost of an asset, less accumulated depreciation.

Freehold land is included based on a valuation recorded by the Land Registry when legal title was transferred to the charity.

(g) Depreciation

Depreciation is calculated so as to write of the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and Fittings - 20% straight line Freehold Building - 2% straight line Freehold land is not depreciated.

Page 11

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2020

3. Accounting policies (continued)

(h) Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

(i) 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.

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.

4. Limited by guarantee

The charity is a company limited by guarantee and does not have any share capital. The liability of each member in the event of winding up is limited to £10.

5. Donations and legacies

Donations
Norfolk Community Foundation
Thornham Parish Council
Bag Ladies
Friends of Thornham Village Hall
Mrs S Mocatta
Thornham United Charities
Sport England
Miscellaneous		 Unrestricted
Funds
£
Restricted
Funds
£
Total Funds
2020
£
2,000
-
2,000
2,750
-
2,750
3,875
3,875
2,500
-
2,500
750
-
750
1,000
-
1,000
-
1,700
1,700
65
-
65
12,940
1,700
14,640

Page 12

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2020

5. Donations and legacies

5. Donations and legacies
Donations
Thornham Parish Council
General donation
Norfolk Community Foundation
Sport England
Tesco
Friends donations
The Meadow Trust
Thornham Taverners
Drove Orchards
Thornham Cricket Club
Paul Bassham Grant
6. Charitable activities
Hall hire
7. Other trading activities
Cinema club and theatre
Fund raising
100 Club
8. Investment income
Bank interest receivable
9. Other income
Feed in tariff		 Unrestricted
Funds
7,225		 Unrestricted
Funds
£
2,000
685
845
-
2,000
3,525
500
350
500
-
-		 Restricted
Funds
£
Total Funds
2019
£
-
2,000
-
685
-
845
5,591
5,591
-
2,000
-
3,525
-
500
-
350
-
500
350
350
1,000
1,000
10,405 6,941 17,346
Total
Funds
2020
7,225
Total
Funds
2020
7,501
14,709
8,455
30,665
Total
Funds
2020
793
Total
Funds
2020
337
337		 Unrestricted
Funds
20,768
Unrestricted
Funds
15,291
24,222
3,586
43,099
Unrestricted
Funds
2,162
Unrestricted
Funds
330
330		 Total
Funds
2019
20,768
Unrestricted
Funds
7,501
14,709
8,455		 Total
Funds
2019
15,291
24,222
3,586
30,665 43,099
Unrestricted
Funds
793		 Total
Funds
2019
2,162
Unrestricted
Funds
337		 Total
Funds
2019
330
337 330

Page 13

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2020

10. Costs of other trading activities
Cinema Club and theatre expenses
Fundraising		 Unrestricted
Funds
4,817
2,960
7,777		 Total
Funds
2020
4,817
2,960
7,777		 Unrestricted
Funds
7,482
8,186
15,668		 Total
Funds
2019
7,482
8,186
15,668

Page 14

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2020

11. Expenditure on charitable activities

Unrestricted
Funds
Light, heat and water
4,842
Licences and notices
180
Insurance
3,251
Postage, stationery and telephone
1,278
Administration expenses
7,920
Equipment, repairs and maintenance
15,208
Cleaning and miscellaneous
2,204
Marketing and sales promotion
902
Health and safety
987
Depreciation
36,532
Legal and professional
-
Governance costs
1,609
74,913
Unrestricted
Funds
Light, heat and water
5,639
Licences and notices
180
Insurance
3,152
Postage, stationery and telephone
1,291
Administration expenses
11,019
Equipment, repairs and maintenance
11,920
Cleaning and miscellaneous
4,735
Marketing and sales promotion
1,651
Health and safety
96
Depreciation
42,834
Legal and professional
403
Governance costs
4,777
87,697
Analysis of governance costs:
Independent examination fees
- Current year
- Prior year
Accountancy fees		 Restricted
Funds
-
-
-
-
-
-
-
-
-
-
-
-
-
Restricted
Funds
-
-
-
-
-
6,941
-
-
-
-
-
-
6,941
Total Funds
2020
£
1,380
-
229
1,609		 Restricted
Funds
-
-
-
-
-
-
-
-
-
-
-
-
-
Restricted
Funds
-
-
-
-
-
6,941
-
-
-
-
-
-
6,941
Total Funds
2020
£
1,380
-
229
1,609		 Total Funds
2020
4,842
180
3,251
1,278
7,920
15,208
2,204
902
987
36,532
-
1,609
74,913
Total Funds
2019
5,639
180
3,152
1,291
11,019
18,861
4,735
1,651
96
42,834
403
4,777
94,638
Total Funds
2019
£

1,380

1,008

2,389
4,777		 Total Funds
2020
4,842
180
3,251
1,278
7,920
15,208
2,204
902
987
36,532
-
1,609
74,913
Total Funds
2019
5,639
180
3,152
1,291
11,019
18,861
4,735
1,651
96
42,834
403
4,777
94,638
Total Funds
2019
£

1,380

1,008

2,389
4,777


1,609 4,777

Page 15

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2020

12. Net income/(expenditure)

12. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation of tangible fixed assets
13. Independent examination fees
Fees payable to the independent examiner for:
Independent examination fees for the financial statements
-Current year
-Prior year		 Total
Funds
2020
£
36,532
2020
£
1,380
-
1,380		 Total
Funds
2019
£
42,834
2019
£
1,380
1,008
2,388

14. Staff costs

No salaries or wages have been paid to employees, including the Trustees, during the year.

15. Trustee remuneration and expenses

During the year the Trustees were reimbursed for purchases made on behalf of the charity and minor necessary and authorised out of pocket expenses, as summarised below.

J Warham
S C Herbert
Mrs S C Mocatta
A W Morris
C S Venes
Mrs A Wakes-Miller
S A E Staveley		 2020
£
-
-
150
-
-
-
-
150		 2019
£
349
130
272
269
7
81
25
1,133

There are no related party transactions to be disclosed.

Page 16

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2020

16. Tangible fixed assets

Cost
At 1 January 2020
Additions
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
At 31 December 2020
Carrying amount
At 31 December 2020
At 31 December 2019		 Freehold
land
£
15,000
-
15,000
-
-
-
15,000
15,000		 Fixtures
and
fittings
£
164,035
-
164,035
103,754
20,319
124,073
39,962
60,281		 Freehold
building
£
767,799
-
767,799
91,524
16,212
107,736
660,063
676,275		 Total
£
946,834
-
946,834
195,278
36,531
231,809
715,025
751,556

A legal charge of £475,910 is held by the Big Lottery Fund over the building for the next 13 years. Sports England also have a legal charge over the playing field for the next 27 years.

17. Stocks

Stock
ebtors
Other debtors		 2020
£
2,330
2020
£
2,529
2,529		 2019
£
834
2019
£
837
837

18. Debtors

Page 17

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2020

19. Creditors: Amounts falling due within one year

reditors: Amounts falling due within one year
Trade creditors
Accruals
Deferred income brought forward
Released during the year
Deferred during the year		 2020
£
2,118
1,380
3,498
2020
£
-
-
-
-		 2019
£
15,386
1,380
16,766
2019
£
1,482
(1,482)
-
-

Deferred income relates to money received in advance in relation to hall hire and 100 club.

20. Taxation

No provision is made for taxation as the company is a charity entitled to the various exemptions afforded by the Corporation Tax Act 2010.

21. Analysis of charitable funds

Restricted funds
Village Hall Fund
Playing Field Fund
Big Lottery Fund
Cricket Field
Play Area
Unrestricted funds
General funds
Restricted funds
Village Hall Fund
Playing Field Fund
Big Lottery Fund
Cricket Field
Play Area
Unrestricted funds
General funds		 Balance at
1 Jan 2020
36,585
8,117
475,910
51,493
-
572,105
291,889
863,994
Balance at
1 Jan 2019
36,585
8,117
475,910
51,493
-
572,105
318,490
890,595		 Income
-
-
-
1,700
-
1,700
74,608
76,308
Income
-
-
-
5,941
1,000
6,941
76,764
83,705		 Expenditure
-
-
-
-
-
-
(82,690)
(82,690)
Expenditure
-
-
-
(5,941)
(1,000)
(6,941)
(103,365)
(110,306)		 Transfers
-
-
-
-
-
-
-
-
Transfers
-
-
-
-
-
-
-
-		 Balance at 31
Dec 2020
36,585
8,117
475,910
53,193
-
573,805
283,807
857,612
Balance at 31
Dec 2019
36,585
8,117
475,910
51,493
-
572,105
291,889
863,994

Page 18

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2020

21. Analysis of charitable funds (continued)

The Village Hall Fund – represents funds received and raised to establish a new village hall.

The Playing Field Fund – represents funds received for the repair an replacement of playing field equipment and MUGA.

The Big Lottery Fund – represents funds received from the Big Lottery Fund to establish a new village hall. A legal charge of £475,910 is held by the Big Lottery Fund for the next 13 years.

Cricket Field – represents funds received from Sports England in relation to football pitch improvements and new cricket square. Sports England have a legal charge over the playing field for the next 27 years.

Awards for All – represents funds received from Awards for All towards the purchase of a mower. The purchase was completed in the year and capitalised therefore a transfer has been made to the Unrestricted funds.

Play Area – represents funds received towards the upgrade of the Play Area. The work was completed in the year and capitalised therefore a transfer has been made to the Unrestricted funds.

22. Analysis of net assets between funds

Analysis of net assets between funds
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets		 Unrestricted
Funds
191,285
96,020
(3,498)
283,807
Unrestricted
Funds
227,816
80,838
(16,765)
291,889		 Restricted
Funds
523,740
50,065
-
573,805
Restricted
Funds
523,740
48,365
-
572,105		 Total Funds
2020
715,025
146,085
(3,498)
857,612
Total Funds
2019
751,556
129,203
(16,765)
863,994

23. Financial instruments

The carrying amount for each category of financial instrument is as follows:

Financial assets that are debt instruments measured at amortised cost
Other debtors
Stock		 2020
£
2,330
2,529
4,859		 2019
£
837
834
1,671

Page 19

THORNHAM VILLAGE HALL AND PLAYING FIELD

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 December 2020

24. Financial instruments(continued)
Financial liabilities measured at amortised cost
Trade creditors
Accruals		 2020
£
2,118
1,380
3,498		 2019
£
15,386
1,380
16,766

Page 20