GARVESTONE VILLAGE HALL (NEW BUILD) LTD (A company limiied by guarantee) 06847924 Regist¢red number: 06847924 Charity number: 1148395 GARVESTONE VILLAGE HALL (NEW BUILD) LIMITED UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
RIStered Charity 1148395 Pag¢ I CONTENTS Contents Reference and administratiY¢ ddails of the ¢h2rity. its tnteeS and &dvis¢rs Trustees (Direckn} rei Siatement of f]nanciA] a¢tivities Balance sheet Notes to the financial statements REFEIIENCE AND ADMINISTRATIVE DETAILS OF THE COfvIPANY, ITS TRUSTEES AND ADVISERS: FOR THE YEAR ENDED 31 MARCH 2021 Trustees (Directors) S.Smith (Chair) D Leeder M Jennings R Gooch J Gooch Company s¢¢retary A Blake Tjustees (Members) M Fielding R Fielding T Ga0d M Garrod J Gooch S Smith E Buckley EHOM J Garrtyj T Weatherstone R Gooch A Blake Registered Charity 1148395 Page 2
Charity Registration (England and WaIes) 1148395 Company registered number 06847924 Registered office Garyestone and Thuxton Village H811. DeTeham Road, NorwicK Norfolk NR9 4AD Bankers Barclays Bank PLC. 34 Market Place, Dereham. Norfolk NR19 2AS Solicitors Roger Margand, Spires Solicitors Dereham. The Priory. Church StreeL Dereham. Norfolk NR19 IDW R¢gister¢d Charity 1148395 Page 3
TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2021 The Ttwstees (Ntho are also direclors of the comrAny for the pllr of the Companies Act) present Iheir aDnual report alld th¢ fllwicial statements of GanTestone Villag¢ HaEI (New Butld) Litnited (th¢ Company) for the year ended 31 MaTch 2022. Th¢ TrSt¢e5 confim that the Annual report alld financial stateTnents of the ¢OTntwny ¢omply with the Current statutory requirements, the requirements ofthe chaTity's governing docume and th¢ wvisions of FRS 102 SORP 2015. Charitable objectives and activilies: The principal object of the charity TS to improve the lift and health of the local inhabitants, encourage social cohesion and reduce isolation, which it achieves by ryoviding facilities for hire for meetings, lectures, training and education, wjd r¢¢r¢#tiofy and by organising community events. -4chieveniints and PLrt(IrmaFILL This have still en some diffi¢utti¢s this year with some hirers not resuming p Covid-19. however we have had some new hirers which has hel& A mobile Post Office service has however been able to provides a valued service for ihe ¢ommuniry for sessions per week. PubliL binitit: The beneficiaries of the charity are Feople who are Iiui to the area of age groups 2nd abiliti¢s. The sttts confinn tha¢ in exercising their poweTS and duiies, they hav¢ ¢omplied with th¢ir duty to have due regard to the guidance on public benefii published by the Charity Commission. SirLILiiifL. troi"Lrnance and management: Governing Docutnent: The Company is limited by guardntee undry M¢morandum and Articles of association incorymted on 0610212009, and Articles amended by special resolution dated 2910i12012, regislered at Componie5 How on 0410412012, and registered with the Charity Cotnmission on Ig August 2012. Method of Appointment or Election of Tru5 The management of the company is th¢ resnsIbIlity of th¢ Trustees who are ¢lected and cmpted under the t¢Tms of th¢ Arti¢1¢5 of Association. Organisational Structure aTKI D¢¢ision Making The Tnte¢S hold regular meetings to admIter the affairs of the chatity. Related paty re]lonshIpS are limited to those between the charity, its Trustees and the related clharity for which it acts as Corporale Tn1¢¢. Thwxton & Cwyestone Instityte. TRUSTEES, REPORT Icontinued) Registered Charity 1148395 Page 4
FOR THE YEAR ENDED 31 MARCH ?0?• During the year, the charitys source of donated ine(mie came from Garvestone Charity Trust to repay previous loan and grants from Breckland Coun¢il for support during the pandemic plus one unsF¢¢ifi¢d other, aOunting to £24.03012021: £35743). Income genernt¢d by charitable activities is from for the hire of the village ball which in¢reas¢d this year. 8mounting to £9.596 {2021: £583). I0Me gencratd from renewable technologies is set again81 imported ele¢tri¢ity costs. Exw]diture is almost exclusively for charitable activities I111n8 the Cost of replacements and 8eneTal Tunning uhsts. Other expenditure rewes¢Thts interest and capital repayments of the loan from ACRE which is being repaid over eight yws. Total in¢ome amounted to £34.652 (2021.. £36JS1). ExFendihwe on charitable activitie$ includes d¢pre¢iatioll on fixed assets. and net in¢omelexpenditure after all ¢osts was (£10217) (2021.. £2,251). Plans tor the future: GOING CONCERN The trustees 8re Satisfied with the year4nd financial t*)sition of the charity. and that it will have adequate resources to meei its fuwre plans and financial obli8ation5. For this reason they continue to adopt the ¥oin8 concern basis in preparing the financia] statements. Reseri.'L'% l)oiiLI". Total funds ort 31 March 2022 amounted to £802290 (2021: £812,507). Reserves are largely invested in th¢ charitys fixed assets. but current a55et$ include designated funds in a savings account set &side for repairs and replacements, and gener funds to allow for ¢&8h flow and conting¢ncies. The b81ance of the sAvinBs account now 01 £4.719.96 In preparing this rew>rL the TnLStees have tsken &lvants8e of the small companies exemptions provided by section 415A of the Companies Act 2008. This report W&8 approved by the TnLs¢¢es on 2311012022 and si8d ort their behalf, by: St¢ph¢n Smith, Chairnian Rcgislered Charity 1148395 Page 5
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 FUNDS: Endowment Restricted Utirestricted Tots] 2022 Totsl 2021 2022 2022 2022 INCOME: Note Income from donations: - Grants, donaliorL5 IncoTn¢ fro¥n charttabl¢ activities: - CornUnIty events - Hire fecs Interest on savings: - Charity Bank Iii 24.030 24.020 35.743 1.006 9J96 583 20 20 25 TOTAL INCOME: 34.652 34.652 36,351 EXPENDITURE: ExFKndilur¢ on ¢haritable activitiLs: Note 5 - Spe¢ified expendilure * Depreciation - Rates, insuraTtce, licences * Cleaning & w&st¢ Utilities - Maintenance, repairs? replacements Event costs . Support. thinisttatioTh costs Other expendilure: - Loan interest 15J37 4.)56 874 1.878 4.929 1.656 14.860 416 509 20,567 1,878 4,929 1.656 14.860 416 509 20.567 1,632 4,440 1,655 5,610 168 55 55 28 TOTAL EXPENDITURE: 15,337 4.356 25.177 44.869 40.198 Net incomel(extnditure): (15,337) (4,356) 9,475 {102ID (20,660) Re¢on¢iliation of funds: Total funds at l April 2021 (20) fA)5.797 170,035 36.676 811507 810257 T(yfAL FUNDS AT 31 MARCH 2022 (21) 590,460 165,679 46,151 802290 810,257 Re¥ist¢r¢d Charity 1148J95 Page 6
BALANCE SHEET AS AT 31 MARCH 202? 2022 2021 Note FIXED AssErs: Tangible &8sets 765,149 765,149 781.540 781,540 CURRENT ASSETS: Dethors 2.641 274 Cash At bank 30.182 27,692 Savings account 4.719 4.700 34.901 32,666 CREDITORS: Amounts due within l year .016 Amounts due after l year 683 NET CURRENT ASSETS I {LIABILITIES): 37.141 30,968 NET ASSETS: 802,290 812,507 CHARITY FUNDS: Endowmem funds Restri¢ted funds Unrestricted funds 9.10 590.460 165,679 46.151 605,797 170,035 36.676 802,290 812.507 The Tru5tec5 Consider that the company is ¢ntitled to excmrAion from th¢ requirement to have an audit under the prDV1510rts of se¢iion 477 of the Companies Act 2(K)6 ('the Act.) and membcrs have not required the company to obtain an audit for the year in question in accordanc¢ wtth lon 476 of the ACL Registered Clwity 1148395 Page 7
The TnL5t¢es acknowledge their resp)nsibiliiies for Lx>rnplying with the requi¥tments of the Companies Act 2008 ith resFeCi to aceounting records and preparit)8 flnancial statements which give a true and fair vic of the affairs of the company * 3 1 PA8rch 2021. The finarfia] swements have been prepared in ac¢ord8nce the provisions relating to compallies subjeci tt) the small compaThie5 regime Mitiiin Part 15 of the Compantes Act 2008 and in accordance with the Fioanci81 Rctx)rting Standard for Smatler Eniiti¢s (efftxtive April 20081. The financial statements including the notes on e$ 8 -13 were approved by TThS on 2311012022 and signed on th¢ir behalf by: Stephen Smith, Chairnian Registered Charity 1148395 Page 8
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20:: l. ACcoUr[NG POLICIES 1.1 B&8is of werAration of financi21 staiements.. The fmanciai statements have Een prepared utykn the historical o)st conventioo and have b¢¢n prepared in accordance with the Statement of R&ommended Practice (SORP). 'Accounting and Reporting by Charit1¢5" published in Mwrh 25. applicable accounling stsndBr& and the Companies Act 2008, and FRS 102 SORP 2015. 1.2 Cornpany sts1. Th¢ company is limited by guaraniee. The memlTS of the CoMY are the Trustees nam¢d on page 3. In ihe evenf of the compAny being wound th¢ liability in respe¢t of the guarantee is limited to £10 per memE¢r of the company. 1.3 Fund accounting-. Exp¢ndabl¢ ¢ndowment funds represent fixed usets transfeTred from the relatrd charity Thuxton and Garvestone Institute whicll under ts ternis of the 8rani agr¢emenL must be retained for at le4st enry years. Restricted funds are fimds used in actordance with restrictions IMSed by donors for parti¢ular purFWS. General fjjnds are unrestricted funds thal arc available for w¢ at the discrelion of the Trustees to further the objects of the charity if th¢y have not been desigiiated for other pwyog¢s. 1.4 Incoming resour¢es: All incoming resour¢es are includ¢d in the Statemeni of finan¢ial activities. In¢ome t&K trcovernble in relation to donal108 received under Gift Aid is re¢ognised at the lime of th¢ don81ioTL 1.5 Resources expended. All expendititre 15 accoumed for on an accruals t4sis and is allocated to ¢haritsble activities with the exception of loan repayments. 1.6 Cash flow statem¢nl'. A ¢ash flow statemenl is nol included as part of these financial sernents in view of the Charity falling outside the scope of Financial Reporting Stsndard No l. 1.7 Tangible fixed &ssets and depr¢riation: The policy with resPXt to almuai impirn)ent review of fixed assets is to set &side designated funds each year for future repaiT5. Tangible fixed assets are stated at cost less depreciation calculated to write off the cost of th¢ less any Tes]d value over their useful life on the following b&sis: Freehold property Fixtures and fjttings 211A Straight line IO% Straight line Registered Charity 1148395 Page 9
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED JI MARCH 20?2 2. tK)NATED INCOME Endowment Restricted Unrestricted Funds-. Funds-. Funds= 2022 2022 2022 Total Funds: 2022 Total Funds- 2021 Donations: Specified donations Designated donations Unspecified donations Grants: 1,500 24.030 24.030 600 DONATED TNCOME: 24,030 24.030 2.200 3. tNCOMING RESOURCES FROM CHARITABLE ACTIVITIES Hire fees received Community event in¢ome-. Events incl Film sho - 8.5 8.590 583 9596 9J90 583 4. INCOME FROM SAVINGS Accou[ Interest received: 20 20 25 5. COSTS OF CHARITABLE AcfIvtriES: Not¢s- RCgi5tcr Charity 1148395 Page 10
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 20?? The charity recetves 800/0 mandatory relief against business rdtes. Each year the charity applies for 200/0 discrctionary bus&ness rate relief (£1,446) which has been granted for the year ¢nding 31 March 2022. During the year, tK) trstee of the charity rcc¢ived reimbursement of any expenses. 5. COSTS OF CHARrrABLE ACTJVITtES & OTHER COSTS: FUNDS: Endowmenl Restricted UnStrICtl 2022 2022 2022 Total 2022 Total 2021 Charitable aciivities: Depreciation Specified exFtnditure Insurance, licences Cleaning. refuse & hygiene BT 15.337 4,356 874 20,567 20.567 1,878 1,878 1.632 4,929 139 4.929 4.440 446 139 Water -633 -633 863 Electricity less WT & PV FITS Maintenance, repairs Replacement4 additions Event costs 2,150 2,150 346 14.860 14,860 5,610 416 416 Printing. postsge, ststionery, web Subs¢ription4 ICO Companies House Other costs: 312 312 120 35 13 13 13 ACRE loan interest 55 55 28 TOTAL COSTS: 15,337 4.356 25,177 44.870 34,100 Registered Chartry 1148i95 Pag¢ll
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED J l MARCH 2022 6. TANGIBLE FIXED ASSETS Freehold prot¢ty Fixnwe&lfiftill8S Tota] Cost At E April 2021 Additions 967,938 12.081 4.174 980.020 4.174 At 31 March 2022 967.938 16.255 984,194 Depreciation: At l April 2021 Charge for the year 20/0 SL 189.653 19359 IOO/o SL 8.826 1.208 Total 198,479 20.567 At31 mah2O21 209.012 10.034 219,046 Net book value At 31 March 2022 758,927 6222 765.l49 At 31 March 2021 778285 3.256 781.540 In the year ending 31° March 2011. fixed wets with a written down value of £759,171 relating to the new build village hall in Garvestone were transferred to the charity by the related charity Thuxton & Garvestone Institute. Grant funding received from Big Lottery Fund and Foundation for Sport and the Arts placed restrictions on the use of the grants and the future us¢ of th¢ property. Th¢s¢ restrictions are secured by way of legal charges over the land and property in favour of the funding bcKlies. In the event of a sale of the property there is the potential for certain grant funding to becom¢ ffpayabl¢. The ttustees do not consid¢r that any liability to repay grant funding will arise. 2022 2021 7. DEBTORS Trade debtors Outswiding FIT income 1641 82 Registered Charity 114839) Page 12
NOTES TO THE FtNANCIAL STATEMENTS (conttnued) FOR THE YEAR ENDED 31 MARCH 20*: 2,641 274 . CREDITORS: Amounts falling due within one year Trade creditors tkferred income Amounts falling due after one year Loan from Garvestonc Charity Tn Loan from ACRE 46 857 175 159 180 683 401 1,699 9. STATEMENT OF FUNDS: Brought Forward Incoming resources Resources Expendcd Carried Forward General Funds 36,676 170.035 34.652 25,177 4,356 46,151 165,679 Restricied funds Endowment funds 605,797 15,337 590,460 Totsl of all funds 812.508 34.652 45,373 802,290 The expendable endowment funds are fix &ssets tronsferr&J from the relatyj charity which are reduced by deprlatIon each year. Restricted funds brought forward aTe fixed assets while general funds include iK)th fixed assets and current assets. Registered Charity 1148395 Page 13
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 RO. ANALYSIS OF NET ASSETS BETWEEN FUNDS Total Fds. Funds: Funds: Fund5: Funds- 2022 2022 2022 2022 2021 Tangible red assets CUrnt a&sets 590,460 165,452 9,237 765.148 781,540 32.411 31411 32.666 (401) (1.699) Creditors (401) 590,460 165.452 41.247 797.158 812.507 I I. RELATED PARTY TRANSAcfioNS Thcr¢ W¢ no r¢latd party tranwtions during this financial year. Registered Charity 1148395 Page 14