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2022-03-31-accounts

LAKE VIEW VILLAGE HALL

ACCOUNTS FOR THE YEAR ENDED

31ST MARCH 2022

Registered Company No. 08000010 Registered Charity No. 1148226

Russells Accountants

20 Riverview Way Kempston

Bedford MK42 7BB

LAKE VIEW VILLAGE HALL

ACCOUNTS FOR THE YEAR ENDED

31ST MARCH 2022

INDEX

Russells Accountants 20 Riverview Way Kempston Bedford MK42 7BB

LAKE VIEW VILLAGE HALL

Accounts for the year ended 31st March 2022

Report of the Trustees of Lake View Village Hall

The Trustees who are also directors of the charity for the purpose of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2022. 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 2015)

Objectives and Activities

Objectives and aims

The objectives and aims of the charity are set out in its memorandum and articles of association and are the provision and maintenance of a village community centre for the use of the inhabitants of Wixams in Bedfordshire and surrounding areas.

Significant activities

The charity continued to run and maintain the Lakeview Village Hall, Wixams throughout the year where Covid-19 restrictions allowed. The main expenditure in the year has related to wages and salaries.

Public benefit

The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission.

Volunteers

The trustees act on a voluntary basis. A semi-autonomous events committee is composed of volunteers and organises community events throughout the year with a view to raising funds for the charity.

Financial Review

Financial position

Total income has increased by 4%, this increase is mainly due to the Covid related government grants and schemes that were in place for part of the year. The village hall was also able to open up again throughout the year which contributed significantly to the increase in the year.

We have not needed to resort to the s106 commuted sum held on the charity's behalf by Bedford Borough Council. The village hall received the commuted sum of £80,000 after the year end, this is to be used over the period of 10 years. The Village hall is also due to get £13,500 each year, but this needs to be applied for annually.

Reserves policy

The charity has not formulated a specific reserves policy whilst s106 commuted sum money is available, but this will be considered in the future.

Page 1

LAKE VIEW VILLAGE HALL

Accounts for the year ended 31st March 2022

Report of the Trustees of Lake View Village Hall

Future Plans

The main focus for the immediate future is to ensure, in collaboration with Bedford Borough Council, that the remaining latent defects inherited from the original developers are satisfactorily resolved.

In trading terms, the intention is to continue to increase the hall's exposure on social media to ensure a steady flow of bookings, and to also continue to maintain good relationships with the regular hirers of the hall.

Structure, Governance and Management

Governing document

The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by Companies Act 2006

Recruitment and appointemnt of new trustees

New trustees are appointed by the existing trustees. All trustees are required to resign from office at the AGM, but may be re-elected according to the rules and procedures set out in the charity's governing documents.

Organisational structure

The company is run by a board of trustees/directors who are required to number at least three but no more than twelve.

Reference and Administrative Details

Registered company number 08000010 (England and Wales)

Registered charity number

1148226

Registered office

Lakeview Village Hall Brooklands Avenue Wixams Bedford Bedfordshire MK42 6AB

Page 2

LAKE VIEW VILLAGE HALL

Accounts for the year ended 31st March 2022

Report of the Trustees of Lake View Village Hall

Trustees and Directors

Mrs R Baddeley (resigned 12/07/2021) Ms L E Collings Mr C J West Mrs J L Gill Mr D Owens (appointed 16/10/2021) Mr A R Pibworth (appointed 06/06/2022) Mr S I Ali (appointed 06/06/2022)

Company secretary

Mr C J West

Independent examiner

Ian Russell FCCA Russells Accountants Limited 20 Riverview Way Kempston Bedford MK42 7BB

Funds Held As Custodians For Others

During the period 1 April 2021 to 31 March 2022 the charity did not hold any funds as a custodian trustee on behalf of any other charitable organisation.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies

Approved by order of the board of trustees on …………………… and signed on its behalf by:

……………………………………………………………

Trustee

Page 3

LAKE VIEW VILLAGE HALL

Accounts for the year ended 31st March 2022

Independent Examiners Report to the Trustees of Lake View Village Hall ('the Company')

I report to the charity trustees on my examination of the accounts for the year ended 31st March 2022.

Responsibilities and basis of the report

As the charity's trustees of the company (and also its directors for the purpose 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 examiners statement

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

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.

……………………….. Ian Russell FCCA Russells Accountants Limited 20 Riverview Way Kempston Bedford MK42 7BB

Page 4

LAKE VIEW VILLAGE HALL

Accounts for the year ended 31st March 2022

Income and expenditure account

Notes
Income
Village hall operations
Fundraising and social events
2
Interest receivable
Other income
Expenditure
Wages
Security guards
Insurance
Licences
IT & software
Postage & stationery
Accoutancy fees
Professional fees
Rates & water
Refuse disposal
Cleaning
Repairs & maintenance
General expenses
Telephone
Heating & lighting
Bank charges
Bad debts
Depreciation
(Profit) / loss on sale of assets
Net (Deficit)/Surplus		 £
£
£
£
44,309
5,960
-
-
1
-
25,958
61,674
70,268
67,634
32,763
31,085
300
-
104
2,669
1,894
323
602
670
35
101
240
240
48
48
1,998
1,767
1,318
524
1,599
1,107
3,134
3,139
150
-
1,699
1,484
8,339
8,242
-
24
(773)
1,917
2,530
3,127
-
28
55,980
56,495
£
14,288
£
11,139
2021
2022
Unrestricted
Unrestricted

Continuing Operations

All income and expenditure has arisen from continuing activities.

Page 5

LAKE VIEW VILLAGE HALL

Accounts for the year ended 31st March 2022

Balance Sheet as at 31st March 2022

Unrestricted
Notes
2022
£
Fixed assets
Tangible assets
6
7,580
£
7,580
Current assets
Debtors
7
14,551
Cash at bank and in hand
34,271
£
48,822
Creditors
Trade creditors
(45)
Social security and other taxes
0
Other creditors
(11,482)
(11,527)
44,875
Represented by
9
Surplus b/f
30,587
Surplus in year
14,288
Surplus c/f
£
44,875		 Unrestricted
2021
£
9,371
9,371
6,315
18,420
24,735
(2,195)
(312)
(1,012)
(3,519)
30,587
19,448
11,139
30,587

Page 6

LAKE VIEW VILLAGE HALL

Accounts for the year ended 31st March 2022

Balance Sheet as at 31st March 2022

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilties for

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.

The financial statements were approved by the Board of Trustees on …………………………………….. and were signed on its behalf by:

……………………………………………………………

Trustee

Page 7

LAKE VIEW VILLAGE HALL

Accounts for the year ended 31st March 2022

Notes to the Financial Statements

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 2015)', 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.

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.

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.

Plant and machinery 25% on reducing balance

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.

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.

Page 8

LAKE VIEW VILLAGE HALL

Accounts for the year ended 31st March 2022

Notes to the Financial Statements

2. Donations and Fundraising

Fundraising and social events
Net income / (expenditure)
Net income / (expenditure) is stated after charging / (crediting):
Depreciation - owned assets		 31/03/2022
31/03/2021
£
£
-
-
31/03/2022
31/03/2021
£
£
2,530
3,127

3. Net income / (expenditure)

4. Trustees' Remuneration and Benefits

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

5. Staff Costs

The average monthly number of employees during the year was as follows:

Caretaking
No employees received emoluments in excess of £60,000.		 31/03/2022
31/03/2021
£
£
4
4

6. Tangible Fixed Assets

Cost
At 1 April 2021
Disposal
At 31 March 2022
Depreciation
At 1 April 2021
Disposal
Charge for year
At 31 March 2022
Net Book Value
At 31 March 2022
At 31 March 2021		 Plant and
machinery
£
51,479
739
52,218
42,108
2,530
44,638
7,580
9,371

Page 9

LAKE VIEW VILLAGE HALL

Accounts for the year ended 31st March 2022

Notes to the Financial Statements

7. Debtors: Amounts Falling Due Within One Year

Trade debtors
Other debtors
Prepayments and accrued income		 31/03/2022
31/03/2021
£
£
6,130
2,799
3,518
1,900
4,903
1,616
14,551
6,315

8. Analysis of Net Assets Between Funds

Fixed assets
Current assets
Current liabilties
Movement in Funds
At 1.4.21
£
Unrestricted funds
General fund
30,587
Current liabilties
Net movement in funds, included in the above are as follows
Incoming
resources
£
Unrestricted funds
General fund
Current liabilties
70,268
Comparitives for movement in funds
At 1.4.20
£
Unrestricted funds
General fund
19,448		 Unrestricted
Unrestricted
31/03/2022
31/03/2021
£
£
7,580
9,371
48,821
24,735
(11,527)
(3,519)
44,874
30,587
Net movement
in funds
At 31.3.21
£
£
14,288
44,875
Resources
Movement
expended
in funds
£
£
(55,980)
14,288
Net movement
in funds
At 31.3.21
£
£
11,139
30,587

9. Movement in Funds

Page 10

LAKE VIEW VILLAGE HALL

Accounts for the year ended 31st March 2022

Notes to the Financial Statements

9. Movement in Funds (continued)

Comparative net movement in funds, included in the above are as follows

Unrestricted funds
General fund
Current liabilties		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
67,634
(56,495)
11,139

10. Related Party Disclosures

There were no related party transactions for the year ended 31st March 2022.

11. Related Party Disclosures

The company is limited by guarantee and as such has no share capital. The members of the company whose liability is limited to a maximum of £1 each.

Page 11