COMPANY REGISTRATION NUMBER: 07479975 CHARITY REGISTRATION NUMBER: 1141442
THORNHAM VILLAGE HALL AND PLAYING FIELD
COMPANY LIMITED BY GUARANTEE
UNAUDITED FINANCIAL STATEMENTS
31 DECEMBER 2021
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 2021
| 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 2021
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 2021.
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 S A E Staveley M A Wakefield Mrs E L Watson J W H Cave
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 2021
| 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 2021
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
In common with businesses up and down the country, Thornham Village Hall’s activities and income were badly affected by the Covid virus. We operated throughout, fully in line with the Government’s guidelines, and we restarted activities on a limited basis, and with reduced numbers, only when it was considered safe to do so.
By the end of the year, most activities were back up and running and the Hall was again generating income. As a result of the good husbandry by the Trustees, together with the Government Covid Grants, we were able to weather the storm without touching our reserves which remained at a healthy level of £85,000. A considerable achievement.
The introduction of a Pay & Display Car Park has proved most valuable, not only in easing our Health & Safety issues, but also, in providing a regular income stream which, in turn, reduces the need for volunteers to be constantly fund raising.
During the year, the Trustees adopted a Go Greener Policy, which led to the installation of 30 new solar panels and two Tesla storage batteries. This investment was largely funded by a Grant, and we hope to be at least 70% selfsufficient in our electricity consumption by the end of the year.
A new Gazebo was installed on the Playing Field and the whole play area has been fenced off, thus providing a safer environment.
In addition, fencing has been erected on the perimeter of the Playing Field to provide safe, additional car parking facilities during the busy summer months.
In summary, a difficult but successful year, with activities pretty much back in full swing by the end of the period under review.
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 2021
Covid-19 Support
During the year to 31 December 2021 the Charity has been able to claim a total of £33,947 (2020 - £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 £43,164 (2020: £30,150).
The charity had overall net profit of £4,022 (2020: deficit of £6,382).
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 £147,634 (2020: £146,085) in net current assets.
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.
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 2021
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:
-
a) Copies of the Memorandum and Articles of Association;
-
b) Details of the Charities Commission Guidelines “The Essential Trustee – What you need to know, what you need to do”;
-
c) The latest Financial Statements.
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:
-
1) The long-term replacement of the Trustees. The charity has an active policy to attract both Trustees and Volunteers which seems to be showing positive results.
-
2) Recruitment of younger persons. The demographics of the area make this a challenge. Constant contact with all younger families together with the introduction of activities attracting younger persons should assist in solving this issue.
-
3) Longer term impact of COVID-19 crisis.
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 2021
The Trustees’ annual report was approved on … July 2022 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 2021
I report to the charity Trustees on my examination of the financial statements of the company for the year ended 31 December 2021 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:
-
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
-
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
-
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 2022
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 2021
| 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 £ 6,017 33,947 14,401 42,574 14 1,005 97,958 (5,433) (72,027) (77,460) 20,498 53,978 74,476 283,807 358,283 |
2021 Restricted Funds £ 560 - - - - - 560 - (17,036) (17,036) (16,476) (53,978) (70,454) 573,805 503,351 |
Total Funds £ 6,577 33,947 14,401 42,574 14 1,005 98,518 (5,433) (89,063) (94,496) 4,022 - 4,022 857,612 861,634 |
2020 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 |
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 2021
| 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 |
2021 £ £ 715,772 2,135 714 144,885 147,734 (1,872) 145,862 861,634 861,634 503,351 358,283 861,634 |
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 |
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 |
|---|---|---|---|
| 857,612 | |||
| 857,612 | |||
| 573,805 283,807 |
|||
| 857,612 |
For the year ending 31 December 2021 the charity 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 financial statements 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 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 2022, 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 2021
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 2021
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:
-
Income from donations or grants us recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
Covid support is included when received
-
Investment income is included when receivable.
-
Income from charitable activities are accounted for when earned.
-
Fund raising income is included when received.
(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:
-
Expenditure on raising funds includes the costs associated with fundraising activities.
-
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.
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 2021
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 Thornham Cricket Club Thornham Parish Council Friends of Thornham Village Hall Miscellaneous |
Unrestricted Funds £ Restricted Funds £ Total Funds 2021 £ - 560 560 2,750 - 2,750 2,875 - 2,875 392 - 392 |
|---|---|
| 6,017 560 6,577 |
Page 12
THORNHAM VILLAGE HALL AND PLAYING FIELD
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 December 2021
5. Donations and legacies
| 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 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 14,401 |
Unrestricted Funds £ 2,000 2,750 3,875 2,500 750 1,000 - 65 |
Restricted Funds £ Total Funds 2020 £ - 2,000 - 2,750 - 3,875 - 2,500 - 750 - 1,000 1,700 1,700 - 65 |
||
| 12,940 | 1,700 | 14,640 | |||
| Total Funds 2021 14,401 Total Funds 2021 1,368 37,606 3,600 42,574 Total Funds 2021 14 Total Funds 2021 1,005 1,005 |
Unrestricted Funds 7,225 Unrestricted Funds 7,501 14,709 8,455 30,665 Unrestricted Funds 793 Unrestricted Funds 337 337 |
Total Funds 2020 7,225 |
|||
| Unrestricted Funds 1,368 37,606 3,600 |
Total Funds 2020 7,501 14,709 8,455 |
||||
| 42,574 | 30,665 | ||||
| Unrestricted Funds 14 |
Total Funds 2020 793 |
||||
| Unrestricted Funds 1,005 |
Total Funds 2020 337 |
||||
| 1,005 | 337 |
Page 13
THORNHAM VILLAGE HALL AND PLAYING FIELD
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 December 2021
| 10. Costs of other trading activities Cinema Club and theatre expenses Fundraising |
Unrestricted Funds 2,405 3,028 5,433 |
Total Funds 2021 2,405 3,028 5,433 |
Unrestricted Funds 4,817 2,960 7,777 |
Total Funds 2020 4,817 2,960 |
|---|---|---|---|---|
| 7,777 |
Page 14
THORNHAM VILLAGE HALL AND PLAYING FIELD
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 December 2021
11. Expenditure on charitable activities
| Unrestricted Funds Light, heat and water 2,467 Licences and notices 996 Insurance 2,960 Postage, stationery and telephone 3,901 Administration expenses 10,198 Equipment, repairs and maintenance 24,311 Cleaning and miscellaneous 1,416 Marketing and sales promotion 1,497 Health and safety 795 Depreciation 39,142 Legal and professional - Governance costs 1,380 89,063 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 Analysis of governance costs: Independent examination fees - Current year - Prior year Accountancy fees |
Restricted Funds - - - - - - - - - - - - - Restricted Funds - - - - - - - - - - - - - Total Funds 2021 £ 1,380 - 1,380 |
Restricted Funds - - - - - - - - - - - - - Restricted Funds - - - - - - - - - - - - - Total Funds 2021 £ 1,380 - 1,380 |
Total Funds 2021 2,467 996 2,960 3,901 10,198 24,311 1,416 1,497 795 39,142 - 1,380 89,063 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 2020 £ 1,380 - 229 1,609 |
Total Funds 2021 2,467 996 2,960 3,901 10,198 24,311 1,416 1,497 795 39,142 - 1,380 89,063 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 2020 £ 1,380 - 229 1,609 |
|---|---|---|---|---|
| 1,380 | 1,609 |
Page 15
THORNHAM VILLAGE HALL AND PLAYING FIELD
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 December 2021
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 2021 £ 39,142 2021 £ 1,380 - 1,380 |
Total Funds 2020 £ 36,532 |
| 2020 £ 1,380 - |
||
| 1,380 |
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 |
2021 £ - - - - - - - - |
2020 £ - - 150 - - - - |
|---|---|---|
| 150 |
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 2021
16. Tangible fixed assets
| Cost At 1 January 2021 Additions At 31 December 2021 Depreciation At 1 January 2021 Charge for the year At 31 December 2021 Carrying amount At 31 December 2021 At 31 December 2020 |
Freehold land £ 15,000 - 15,000 - - - 15,000 15,000 |
Fixtures and fittings £ 164,035 12,852 176,887 124,073 22,389 146,462 30,425 39,962 |
Freehold building £ 767,799 27,038 794,837 107,736 16,753 124,489 670,348 660,063 |
Total £ 946,834 39,890 |
|---|---|---|---|---|
| 986,724 | ||||
| 231,809 39,142 |
||||
| 270,951 | ||||
| 715,773 | ||||
| 715,025 |
A legal charge of £475,910 is held by the Big Lottery Fund over the building for the next 12 years. Sports England also have a legal charge over the playing field for the next 26 years.
17. Stocks
Stock Debtors Other debtors
18. Debtors
| 2021 £ 2,135 2021 £ 714 714 |
2020 £ 2,330 |
|---|---|
| 2020 £ 2,529 |
|
| 837 |
Page 17
THORNHAM VILLAGE HALL AND PLAYING FIELD
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 December 2021
19. Creditors: Amounts falling due within one year
| Trade creditors Accruals |
2021 £ 492 1,380 1,872 |
2020 £ 2,118 1,380 |
|---|---|---|
| 3,498 |
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 2021 36,585 8,117 475,910 53,193 - 573,805 283,807 857,612 Balance at 1 Jan 2020 36,585 8,117 475,910 51,493 - 572,105 291,889 863,994 |
Income - - - 560 - 560 97,958 98,518 Income - - - 1,700 - 1,700 74,608 76,308 |
Expenditure - - - (10,731) (6,305) (17,036) (77,460) (94,496) Expenditure - - - - - - (82,690) (82,690) |
Transfers (36,585) (8,117) - (30,740) 21,464 (53,978) 53,978 - Transfers - - - - - - - - |
Balance at 31 Dec 2021 - - 475,910 12,282 15,159 |
|---|---|---|---|---|---|
| 503,351 358,283 |
|||||
| 861,634 | |||||
| Balance at 31 Dec 2020 36,585 8,117 475,910 53,193 - |
|||||
| 573,805 283,807 |
|||||
| 857,612 |
Page 18
THORNHAM VILLAGE HALL AND PLAYING FIELD
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 December 2021
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 and 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 12 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 26 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 212,421 147,734 (1,872) 358,283 Unrestricted Funds 191,285 96,020 (3,498) 283,807 |
Restricted Funds 503,351 - - 503,351 Restricted Funds 523,740 50,065 - 573,805 |
Total Funds 2021 715,772 147,734 (1,872) |
| 861,634 | |||
| Total Funds 2020 715,025 146,085 (3,498) |
|||
| 857,612 |
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 |
2021 £ 714 2,135 2,849 |
2020 £ 2,330 2,529 |
|---|---|---|
| 4,859 |
Page 19
THORNHAM VILLAGE HALL AND PLAYING FIELD
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 December 2021
| 24. Financial instruments(continued) Financial liabilities measured at amortised cost Trade creditors Accruals |
2021 £ 492 1,380 1,872 |
2020 £ 2,118 1,380 |
|---|---|---|
| 3,498 |
Page 20