Library HADDENHAM COMMUNITY LIBRARY (A private company limited by guarantee) Report of the Trustees and unaudited financial statements for the year ended 31st March 2024 Registered Charity Number 1148062 Registered Company Nurnber 07972739
Haddenham Community Library (HCL) Trustees Annual Report Contents Page Report of the Trustees Independent Examiner's Report Statement of Financial Artivities Balance Sheet Notes to the Financial Statements io
Report of the Trustees The Trustees of Haddenham Community Library {HCLI presentthelr annual report and accounts for the year ended 31, March 2024 and confirm that they comply with the requirements of HCL'S Articles of Assoclatlon and the Charities SORP 2015 IFRSSE). Background HCL was set up by the community in Haddenham in 2012 to take over the runnlng of the village library whlch was facin8 the possibillty of closure as part of local government cutbacks. Agreement was reached with BuckinEhamshlre County Councll {BCC) (Buckinghamshire Council IBCI from I" April 2020) to lease the library premises for a period of 25 years. A second agreement for a Resource Grant guaranteed a certain amount of grant and other income from BCC for an initial period of 5 years. This grant agreement is now periodically renewed. HCL would also benefit from continued access to the county's book stock and the centrali5ed library mana8ement computer system. Two members of County staff (redUd to one from the beginning of 2019 and none from the end of 20211 would be employed by BCC but permanently seconded to and funded by HCL. County staff have now been replaced by contract managers on ajob share basis. HCL was required to find addltional funding to ensure all the runnlng costs of the library could be met. This was in part to be mitlgated by the recruitment of a team of volunteer5 to assist the professional librarianlsl. Having volunteer5 ensured money was saved in respect of addltlonal staff salarles and overhead administrative costs. HCL took over the runnlng of the Ilbrary in November 2012 and subsequently took on full responsiblllty for financlal management from 1st April 2013. Oblectlves and actlvltles HCL'S objects as set out in 2012 in its Articles of Association are as follows: 11) To advance education by the provlsion of a library facility and other educational and community resources for the benefit ofthe residents of Haddenham and Its surrounding areas. 12) To provlde community facllitles for use by the inhabitants of Haddenham and Its surrounding areas Including use for meetings, lectures and classes and other forms of reueation and leisure-time occupation with the object of improvinB the conditions of life of the said Inhabitants. These objetts have since been augmented by HCL'S Mission Statement which is now as follows: 'To provide an accessible, welcoming, family-friendly and vibrant modern Ilbrary fit for the 21, century." HCL recognises that the traditional role of libraries has changed in recent years and that the Introductlon of community librarles is a reflection of this evolutionary process. Whilst retainlng the basic function of a Ilbrary, HCL continues to work steadily to develop and broaden Its range of services and attivities.
Achlevements and performance Over the lastyear HCL has continued to make progress in a number of areas, While the refijrbishment programme initiated in 2021 was mainly completed during 2023, some remaining elements including reconfiguration of the managers, offlce plus decoration of the whole area behind the counter were finally carrled out In the middle of 2024. The two contracted library managers have now been In place for over 18 months and the arrangement has undoubtedly been beneficial to HCL as they have proved very successful at managing not only the day to day running of the library but promoting the services and benefits offered by HCL in the community at large. The range of longstanding activities in the library such as Bounce & Rhyme, Story Time and Lego Club are now accompanied by further choices including craft workshop5, drop-in digital sessions and regular displays of art by local art clubs and individual artists. There Is always something going on In the library. The hlring out of the premises to local clubs and other organisations which provides vltal income for HCL is also thriving with a solid core of regular hirers. The managers have recruited a number of new volunteers overthe past year and as time goes by this loyal volunteer group becomes increasingly experienced and remains vital to the librarvs ongoing success for which library users are most appreciatlve. Having reached a numerical nadir of five members after Covid, the Board of Trustees is now pleased to announce the recent appointment of a further three new Directornrustees from the local community. Despite the known resignation of one trustee at the 2024 Annual General Meeting, the ongoing total Size of the Board at nine members will be the highest number since 2019. This will provlde more flexibility in the sharing of the workload particularly In the key areas of fundraising, marketing and orEanising events, Notwithstanding the critical issue of future financial security, everyone who has been and is involved with HCL can be justifiably proud that a successful library has remalned in the community for well over ten years slnce It was Inltially threatened wlth closure. Financial review Although somewhat less than the prevlous year, the reality of HCL'S continuing unsatisfactory financlal position was underlined by a further excess of expenditure over income in 2023/24 of £11,892. Once again the charity absorbed the loss through another reduction in its cash reserves. Contract manager fees and energy costs continue to account for about 60Yo of expendlture. At the tlme of publlshlng last yearfs Annual Report the Board were antlcipating a signiflcant reductlon in the Resource Grant provided by Buckinghamshire Council for the new three year Resource Grant agreement perlod commencing on I, April 2024. A sharp fall from the 2023124 annual grant level of £16,719 to £6,000 per year for the three years had been Indlcated by Council representatives, In the event HCL managed to negotlate a "tlered" reduttion 50 that the grant would fall by £5000 to £11,719 in the first year, 2024125, and then drop to £6.000 for the followlng two years. This additional £5,719 has helped reduce the forecast 2024125 budget deficit in the current year.
In seeking to partially mitigate the reduced grant, the Board agreed to increase the hourly rate for hlring the library premlses and the cost of refreshments available to customer5, both from I, April 2024. This change seems to have had little impatt on hirers and library users alike and is expected to increase revenue In the current year by some £2,000. Risks The key risk to HCL remains Its financial situation and, although it has sufficient reserves to offset losses for several years, this is not an ideal position to be in for the long term. The impart of a significant reduttion in the numbers of trustees and volunteers is a potentially critical problem but currently this seems unlikely over the next couple of years. Future plans With work on the library's largely internal refurbishment all but complete for the foreseeable future. seeklng ways of reduclng energy costs is currently top of the agenda for controlling expenses. The Board have recently agreed to switch energy suppller to one offerlng a lower unit rate and the possibility of installing solar panels on the library roof is now under attive consideration. Financial risks referred to above mean the Board is now more proactive in seeking out grants in both the private and public sectors. Haddenham Parish Council have been fully appraised of HCL'S financial position and have confirmed their commitment to supporting HCL as a key community asset. Their grant has been increased in the current year and could be again in the future if deemed necessary. A Parish Councillor has recently been co-opted as an observer at trustee meetings. After a recent successful ticketed event in the library, ways of generating additional revenue via thls means will be pursued. As always, seeking new volunteers and trustees remain in future plans. Structure. governance and management HCL is a charltable company Ilmlted by guarantee which was Incorporated on I. March 2012 and registered as a charity on Ilth July 2012. The company was established under a Memorandum of Association and is governed under its Articles of Association which establlsh the objects and powers of the charitable company. The Directors of the company are also the Trustees of the charity. At the time of writing the existin8 Directors are the only members of the company. In the event of the company being wound up the liability of the members is limited to a sum not exceeding £1 each. The three new Directorrrrustees referred to above, Mrs. Catherine Porter, Mrs. Denise Webb and Ms. th Laura Street were appointed on 15 August 2024. st Mrs. Hilary Vickers resigned her position with effect from the AGM on 21 November 2024 after over slx years of valuable service. In accordance wlth the requlrements of the Articles of Assoclation three of the Directornrustees Mrs. Susan Toner, Mr. Tim Mozley and Mr. Tom Hobbs retired by rotation at the Company's AGM on 21, November 2024 and were duly re-elected for a further term of office. The three new Direttornrustees, having been appointed during the year, sought ratification of their appointments and were duSy elected.
Following her prevtously stated intention of stepping down as Chalr at the compan¢s AGM on 21 November 2024 after five years In the position, Mrs. Susan Toner was replaced by Mrs. Lorna Watson for an intended period of three years. This change was duly ratified atthe AGM. st All Directornrustees currently give their time voluntarily and receive no benefits from the charity outslde of those generally available to all beneficiaries i.e. the provision of a library service in the community. Referen and admlnlstrative Informatlon Charlty name: Haddenham Community Library Charity Registration Number: 1148062 Company Registration Number., 07972739 Registered OfFice and operational address: Haddenham Library Banks Park Banks Road Haddenham Aylesbury Buckinghamshire HP17 8EE Board of Directornrustees: Mrs. L, Watson Mr. P. Buckland Ms. R. Cook Mr.T Hobbs Mr, T, Mozlev Mrs. C, Porter Ms. L. Street Mrs. S. Toner Mrs. D. Webb Chair Treasurer Bankers,. Nation31 Westminster Bank 22 Market Square Aylesbury Buckinghamshire HP20 ITR Independent Examiner., Mr. H. Creed FCA
Exemptlons from dlsclosure There are no exemptions from disclosure, Funds held as Custodlan trustee on behalf of others There are no funds held as custodian trustee.
Independent Examinerfs report to the trustees of Haddenham Community Library {"the Cornpanv'l I report to the charity trustees on my examination of the accounts of the Company for the year ended 31" March 2024. Res onsibilities and basi5 of re ort A5 the charlty's trustees of the Company land also its directors for the purpose of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061"the 2006 Act'l 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 examinètion of your charity's accounts as carried out under section 145 of the Charities Act 20111"the 2011 Act"). In arrying out my examination I have followed the Directions given by the Charity Commission under section 14515} {bl of the 2011 Act. Inde endent Examiner's statement I have completed my examination. I confirm that no matters have come to my attention In connection wlth the examlnation 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 did not accord with those records. or 3. 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 4. 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 the charities preparing thelr accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland IFRS 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 understandlng of the account5 to be reached. H.R. Creed, FCA
HADDENHAM COMMUNITY LIBRARY ststement of Flnancial Actlvitles For the year ended 311t March 2024 Unrestrlcted Funds 2024 Restrlcted Funds 2024 Total Funds 2024 Total Funds 2023 Notes Income and endowrnents from: Donations and legacies 31,310 31,310 23,214 Charitable attivltles 12,186 12,186 11,856 Other trading activities 2,351 2,351 1,586 Investment income 351 351 Total 6,198 46,19 6,65 Expendlture on: Charitable attivities- library services 58,090 58.090 51,230 Total expendlture 8,090 58.09 1,23 Net income/(expenditure) forthe year (11,892) (11.892) 114,574) Total funds brought forward 121,079 121,079 135,653 Total funds carrled forward 109,187 109,18 21,07
HADDENHAM COMMUNITY LIBRARY Balance Sheet st At 31 March 2024 Unrestrlcted Funds 2024 Restrlcted Funds 2024 Total Funds 2024 Total Funds 2023 Notes Flxed assets: Tangible assets io 34,595 34,595 29,841 Current assets: Stocks 643 643 1,045 Debtors li 238 238 958 Cash at bank and in hand 79,635 79,635 98,801 0,516 80,51 100,804 Creditors Amounts falling due within one year 12 15,9241 15,9241 {9,5661 Net current assets 4,592 74,592 1,23 Total assets less Current Ilabilities 109,187 109,187 121,079 Net assets 109,18 121,07 Funds 13 Unrestrlcted funds 109,187 121,079 Total funds 109.18 121,07
Balance Sheet- contlnued St At 31 March 2024 The charitable company Is entltled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31$t March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31, March 2024 in accordance with settion 476 of the Companies Act 2006. The Trustees acknowledge their responsibilities for lal Ensuring that the charitable company keeps accounting records that comply with 5ettions 386 and 387 of the Companies Att 2006 and Ib) Preparing financlal ststements which give a true and falr view of the state of affalrs of the charitable company as at the end of each financlal year and of its surplus or deficlt for each financlal year in accordance with the requirements of Sections 394 and 395 and which otherwise comply wlth the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared In accordance with the special provlsion5 of Part 15 of the Companies Act 2006 relating to charltsble small companies. The financial statements were approved by the Board of Trustees on 21. November 2024 and were signed on its behalf by: Lorna Watson- Chair
Notes to the Financial Ststements Forthe year ended 31¥t March 2024 General Information Haddenham Community Library is a charity limited by guarantee and incorporated In England and Wales. The address of the charitws registered office is Haddenham Library, Banks Park, Banks Road Haddenham, Aylesbury, Bucks, HP17 8EE. The registered number is 07972739. Accountlng policies Basis of re arin 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 Charltles SORP IFRS 1021 "Accounting and Reporting by Charities., Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Flnancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective I. January 2015)" Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) {effective September 20151 and the Companies Act 2006. The financial ststements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the Income will be received and the amount can be measured reliably. endlture Liabilities are recognised as expendlture as soon as there 15 3 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 accrual basis and has been classified under headings that a8gregate all cost related to the category. Where costs cannot be directly attribLSted to particular headings they have been allocated to attivities on a basls consistent with the use of resources. Tan ible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Furnlture Fixtures and flttlngs Computers and electronic equlpment straight line basls over 5 years straight line basis over 10 years straight line basis over 3 years Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs dlrectly attributable to making the asset capable of operating as intended. io
Assets are capltallsed by the charity if they can be used for more than one year and are of slgnificant value given the size of the business, i.e. cost more than £250. Stocks These are valued atthe lower of cost or market value. Taxation The charity is exempt from corporatlon tax on its charitable attlvlties, Fund accountin Unrestritted funds can be used in accordance with the charitable objectives at the dlscretlon of the trustees. Restricted funds can only be used for particular restricted purposes wlthin the objects of the charlty. Restrittions arise when specified by the donor or when funds are raised for particular restricted purpose5. The charity received no restricted income during the currentyear or previous year. Donatlons and le8acles 2024 2023 Grants 28,452 21,351 Other donatlons 2,858 1,863 Totsl Grants received during 2023124 and 2022/2023 were provided by Buckinghamshire Councll IBCI, Haddenham Parish Councll and other grant making organisations. Charltable Actlvltles 2024 2023 Room hire fees Library fees 10,021 2,165 10,025 1831 Total li
Other tradlng actlvltles 2024 2023 Fundraising events & attivities Profit on sale of greeting cards Miscellaneou5 63 231 2,057 316 95 1,175 Total Investment In¢ome 2024 2023 Deposit account interest 351 Expenditure 2024 2023 Charitable attivities Salaries and Contract Managers Books Cleaning Electricity Event & attivity costs Furniture/equipment Insurance Newspaperslmagazines Printing/stationery Repairs & maintenan Tel/lCT/TV/WiFi Depreclatlon Other Governance costs 27,929 1,141 4,105 8,536 1,557 25 248 95 728 318 1,510 9,335 2,515 23,204 348 3,977 7,492 587 1,413 642 99 654 1,145 1,195 8,135 2,286 53 Totsl Trustees, remuneration and beneflts There were no Trustees, expense5 paid for the year ended 31, March 2024 nor for the year ended 31st March 2023. 12
Staff costs Payments of £27,929 (2023 £23,204) were made for library management. io Tan8lble fixed assets Furniture, fixtures, fittings and equipment. Cost At I" April 2023 Additions Disposals At 31" March 2024 66,845 14,089 80,934 Depreciation At I" April 2023 Charge for year 37,004 9,335 At 31" March 2024 Net book value 8t At 31 March 2024 At 31" March 2023 29 li Debtors: amounts falling due within one year 2024 2023 Trade debtors 238 958 12 Credltors: amounts falling due wlthln one year 2024 2023 Trade creditors and accruals 13
13 Movement In funds Net movement in funds 2023 2024 Total funds 121079 109 187 Movement in funds Included In the above are as follows: Incoming Resources Resources expended Movement in funds Total funds Comparatives for movement of funds as follows: Net movement In fund5 2022 2023 Total funds 135 653 14 5741 121079 Comparatlve net movement in funds included in the above as follows: Incoming Resour5 Resources expended Movement In funds Total funds 114,5741 14 Related party dlsclosures There were no related party transattions In the current or comparative year except as indicated In note 9 above. 15 Ultimate controlling party The Charity was controlled throughout the year by The Board of Trustees. 14