## **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**
- 1-3. Report of the Trustees 4. Independent Examiners Report 5. Income and Expenditure Statement
- 6-7. Balance Sheet
- 8-11. Notes to the Financial Statements
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:
- accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- the accounts do not accord with such records; or
- the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
- the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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
- ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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