Company registered number: 08255689 Charity registered number: 1150738
Bridgerule Village Hall Ltd (A Company Limited by Guarantee)
Trustees' Report and Financial Statements for the Year Ended 11 November 2023
Bridgerule Village Hall Ltd (A company limited by guarantee)
Contents of the Trustees' Report and Financial Statements for the Year Ended 11 November 2023
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Trustees' Report | 2 - 4 |
| Independent Examiners Report | 5 - 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 12 |
Bridgerule Village Hall Ltd (A company limited by guarantee)
Legal and Administrative Information for the Year Ended 11 November 2023
CHARITY NUMBER 1150738 COMPANY NUMBER 08255689 (England & Wales) BUSINESS ADDRESS & Bridgerule Village Hall REGISTERED OFFICE The Green Bridgerule Holsworthy Devon EX22 7DZ TRUSTEES Mr K J Bowditch Mr C Hitchings Mr A P Quilter Mrs S A Cholwill Hon. Treasurer SECRETARY Mrs S A Cholwill ACCOUNTANTS & Azets INDEPENDENT EXAMINERS 1 Fry Street Holsworthy Devon EX22 6DY BANKERS Natwest Bank 11 The Square Holsworthy Devon EX22 6DU
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Bridgerule Village Hall Ltd
(A company limited by guarantee)
Report of the Trustees (Incorporating the Directors' Report) for the Year Ended 11 November 2023
The trustees present their annual report and financial statements of the charity for the year ended 11th November 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 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 (FRS 102).
Structure, governance and management
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 16 October 2012. The charity is governed under its Article of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Recruitment and appointment of new trustees
Trustees are nominated and appointed at the annual general meeting. Trustees are required to retire annually by rotation and can be reappointed to serve a further term.
Induction and training of new trustees
New trustees will be appointed by the members and will be trained by the existing trustees and members.
Organisational structure
The members meet throughout the year when major decisions concerning the charity are made. The day to day running of the charity is carried out by the members.
Public benefit statement
As trustees of the charity we have complied with the duty in Section 17 of the 2011 Charities Act to have due regard to guidance published by the Charity Commission.
Bridgerule Village Hall is operated by the charity for the use of the inhabitants of the Parish of Bridgerule and the surrounding area in accordance with its objectives. We use the charity commission model memorandum and articles of association as our guide to operations.
The hall has remained available throughout this year as much as possible for use by local inhabitants wishing to use it.
The charity is raising funds via rentals, grant applications and donations to proceed with the continued refurbishment and general upkeep.
The refurbishment of Bridgerule Village Hall commenced in 2013. Phase 1 was completed in 2013. Phase 1 included work in the main hall including new windows, re-plastering, insulation and decorating and a new ceiling. Phase 2 was completed in 2014. Phase 2 included new toilets, a new disabled toilet, a new meeting room, kitchen and bar area, new shutters, a new entrance, foyer and Post Office area, replacement of all the remaining windows and decoration of these areas. Phase 3 was started in 2015. Phase 3 includes a new extension housing a chair and table store, cleaning store and back toilet and refurbishment of back kitchen which is all complete. The old theatre store refurbishment was completed in 2018 with a new roof, new plaster and floor and blocking up the external doorway. New inside entrance doors were also fitted to the main hall in this period. In 2019 after receiving a grant from the Lottery, the roof of the main hall was completely replaced and a brand new façade at the front of the building fitted, together with lights. New low level wall lights were also fitted in the main hall and new concrete flooring was also done under the outside façade.
In 2020 the re-roofing works were completed and a new heating system was installed.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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Bridgerule Village Hall Ltd
Report of the Trustees (Incorporating the Directors' Report) for the Year Ended 11 November 2023
The management committee has conducted its own review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
Objectives and activities
Objectives and aims
To provide, maintain and operate a village hall for the use of inhabitants of the Parish of Bridgerule and the surrounding area without distinction of sex, sexual orientation, age, disability, nationality, race, political, religious or other opinions, including the use of the property for meetings, lectures and classes or other forms of recreation and leisure time occupation in the interests of social welfare and with the object of improving the conditions of life for said inhabitants.
Significant activities
The members of the charity have operated a successful booking system and have maintained the hall to a good standard. The bookings have been boosted by a promotion to increase local awareness of the improved facilities offered by the hall. In addition to the rental income the charity has received numerous donations and grants.
The Parish Council of Bridgerule hold the village hall as custodian trustee and Bridgerule Village Hall Ltd is entitled to use the village hall for its charitable purposes under a deed of trust.
Achievement and Performance
The charity has provided the full service as stated in its objectives.
The refurbishment of Bridgerule Village Hall will gradually improve the hall facilities and provide extra space for new activities to take place.
Financial Review
Reserves policy
The net incoming resources for the period amounted to negative £15,087 of which £541 was the amount attributable to general reserves and £14,546 was the amount attributable to restricted reserves. Total reserves at 11 November 2023 were £143,624 of which £137,274 were general reserves and £6,350 were restricted reserves.
The trustees considered the charity's funds to be adequate to fulfil its charitable objectives.
The members have established a policy whereby surplus funds not committed are to be held as unrestricted funds.
Principal funding sources
The charity's principal sources of funding are from rentals for use of the hall, donations and grants.
Investment policy and objectives
Funds are not required for immediate use are kept in the charity's instant access reserve account to gather more interest.
Future Developments
The Charity continues to support the build of a new Community Village Shop, and to continue to be a hub and provide facilities to the local community.
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Bridgerule Village Hall Ltd
(A company limited by guarantee)
Report of the Trustees (Incorporating the Directors' Report) for the Year Ended 11 November 2023
Statement of Trustees Responsibilities
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Account Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The report has been prepared in accordance with the special provisions Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 15 April 2024 and signed on its behalf by
Mr K J Bowditch - Trustee
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Bridgerule Village Hall Ltd (A company limited by guarantee)
Independent Examiners Report to the Trustees of Bridgerule Village Hall Ltd for the Year Ended 11 November 2023
I report on the accounts of the charitable company for the year ended 11 November 2023, which are set out on pages 7 - 12.
Respective responsibilities of trustees and examiner
The Charity's trustees (who are also the directors of the company for the purpose of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to;
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Examine the accounts under section 145 of the 2011 Act,
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Follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act, and
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To state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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Which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practise: Accounting and Reporting by Charities.
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the financial statements do comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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Bridgerule Village Hall Ltd (A company limited by guarantee)
Independent Examiners Report to the Trustees of Bridgerule Village Hall Ltd for the Year Ended 11 November 2023
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 financial statements to be reached.
Azets 1 Fry Street Holsworthy Devon EX22 6DY
Date 15 April 2024
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Bridgerule Village Hall Ltd
(A company limited by guarantee)
Consolidated Statement of Financial Activities (including consolidated income and expenditure account) for the Year Ended 11 November 2023
| Notes Income Voluntary income Donations Compensation Activities for generating funds Fundraising events 2 Investment income Deposit account interest 3 Incoming resources from charitable activities Hire of hall Play park grants Shop grants 14 Shop fundraising and donations 14 Shop share sales 14 Jubilee Celebration grants Coronation Celebration grants Government Coronavirus small business grant Other Grants Total income Expenditure Charitable activities Rates and water Insurance Light and heat Sundries Play Park Equipment - donation Jubilee Celebration expenses Shop costs Shop legal fees Coronation Celebration expenses Fundraising event costs Repairs and maintenance Internet Depreciation Governance costs Independent Examiner's fee Total expenditure |
Unrestricted Restricted 2023 2022 Funds Funds Total Total £ £ £ £ 50 - 50 53 30 - 30 - 80 - 80 53 2,904 - 2,904 4,147 2,904 - 2,904 4,147 97 - 97 14 7,130 - 7,130 7,450 - - - 5,000 - 12,350 12,350 - 3,383 3,383 - 6,350 6,350 - - - - 2,000 - 680 680 - - - - 2,667 500 - 500 1,000 7,630 22,763 30,393 18,117 10,711 22,763 33,474 22,331 462 - 462 524 690 - 690 652 1,173 - 1,173 744 618 - 618 193 - - - 26,789 - - - 1,922 - 35,758 35,758 - - 771 771 - - 780 780 - - - - 550 449 - 449 1,453 440 - 440 - 6,768 - 6,768 6,945 10,601 37,309 47,910 39,772 - - 651 - 651 447 11,251 37,309 48,561 40,219 |
|---|---|
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| Net income/(expenditure) and net movement in funds for the year Gross transfer between funds 10 Total funds brought forward Total funds carried forward |
(541) (14,546) (15,087) (17,888) (2,898) 2,898 - - 140,713 17,998 158,711 176,598 137,274 6,350 143,624 158,710 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The notes on page 9 - 12 form an integral part of these financial statements
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Bridgerule Village Hall Ltd (A company limited by guarantee)
Consolidated Balance Sheet as at 11 November 2023
| Notes Fixed assets Tangible assets 8 Current assets Cash at bank and in hand Creditors Amounts falling due within one year 9 Net current assets Total assets less current liabilities Funds 10 Restricted income funds Unrestricted income funds Total funds |
2023 £ £ 102,038 42,150 42,150 (563) 41,587 143,624 6,350 137,274 143,624 |
2022 £ £ 108,556 50,576 50,576 (420) 50,156 158,711 17,998 140,713 158,711 |
|---|---|---|
The charitable company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the Year Ended 11 November 2023
The members have not required the company to obtain an audit of its financial statements for the year ended 11 November 2023 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
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a) ensuring that the company keeps accounting records which comply with section 386 and 387 of the Companies Act 2006 and
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b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit and loss for each financial year in accordance with the requirements of section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to companies and subject to the small companies' regime.
The financial statements were approved by the board on 15 April 2024 and signed on its behalf by:
Mr C Hitchings Mr K J Bowditch Trustee Trustee Mrs S A Cholwill Mr A P Quilter Trustee Trustee
The notes on page 9 - 12 form an integral part of these financial statements
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Bridgerule Village Hall Ltd (A company limited by guarantee)
Notes to the Financial Statements for the Year Ended 11 November 2023
1 Accounting Policies Basis of preparation
The financial statements have been prepared in accordance with 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, Charities Act 2011 and the Companies Act 2006. The Charity is a Public Benefit Entity as described by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The accounts are prepared in sterling which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
Income Recognition
All income is recognised once the charity has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable.
Grants where entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant.
Investment income is included when receivable.
No incoming resources are included in the Statement of Financial Activities net of expenditure.
Expenditure Recognition
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 settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. Governance costs comprise the costs associated with regulatory and compliance matters including compiling the charity's financial statements. Tangible fixed assets and depreciation Tangible fixed assets are stated at the cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, as follows: Improvements to property - Straight line over 25 years Fixtures and fittings - 25% reducing balance Impairment reviews are undertaken when there are factors present to suggest that the value of assets may have been impaired.
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 objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purposes of each fund is included in the notes to the financial statements.
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Bridgerule Village Hall Ltd (A company limited by guarantee)
Notes to the Financial Statements for the Year Ended 11 November 2023
| 2 | Activities for generating funds | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Johnny Cowling Fundraiser for Shop (restricted funds) | - | 2,048 | |
| Fund raising events (unrestricted funds) | 2,904 | 2,099 | |
| 2,904 | 4,147 | ||
| 3 | Investment Income Deposit account interest |
2023 £ 97 |
2022 £ 14 |
| 97 | 14 | ||
| 4 | Net Incoming/(Outgoing) Resources Net incoming/(outgoing) resources is stated after charging: Depreciation |
2023 £ 6,768 |
2022 £ 6,945 |
| Accountancy and independent examiners fees | 651 | 447 | |
| 5 | Trustee Expenses | ||
| During the year trustees had no reimbursed expenses in the year (2022 - Nil). |
6 Trustees remuneration and benefits
There were no trustees remuneration, other benefits or reimbursed expenses for the year ended 11 November 2023 nor for the year ended 11 November 2022.
7 Taxation
The charity is exempt from corporation tax on its charitable activities.
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Bridgerule Village Hall Ltd (A company limited by guarantee)
Notes to the Financial Statements for the Year Ended 11 November 2023
8 Tangible Fixed Assets
| Cost At 12 November 2022 Additions At 11 November 2023 Depreciation At 12 November 2022 Charge for the year At 11 November 2023 Net book value At 11 November 2023 At 11 November 2022 |
Fixtures Improvements & Fittings to property Total £ £ 13,309 149,687 162,996 250 - 250 13,559 149,687 163,246 10,437 44,003 54,440 781 5,987 6,768 11,218 49,990 61,208 2,341 99,697 102,038 2,872 105,684 108,556 |
|---|---|
9 Creditors: amounts falling due within one year
| Other creditors Accruals |
2023 2022 £ £ 103 - 460 420 563 420 |
|---|---|
10 Movement in funds
| Unrestricted funds General fund Restricted funds |
Net movement in funds Transfers between funds At 12.11.22 At 11.11.23 £ £ £ £ 140,713 (541) (2,898) 137,274 17,998 (14,546) 2,898 6,350 158,711 (15,087) - 143,624 |
|---|---|
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Bridgerule Village Hall Ltd (A company limited by guarantee)
Notes to the Financial Statements for the Year Ended 11 November 2023
11 Net movement in funds, included in the above are as follows:
| Unrestricted funds General Fund Restricted funds |
Incoming Outgoing Movement Resources Resources in funds £ £ £ 10,711 (11,251) (541) 22,763 (37,309) (14,546) 33,474 (48,561) (15,087) |
|---|---|
General funds are donations and other incoming resources receivable or generated for the objects of the charity without further specific purpose and which the charity may use for its purpose at its discretion.
12 Company Limited by Guarantee
Bridgerule Village Hall Ltd is a company Limited by guarantee and accordingly does not have share capital.
In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member.
13 Employees
There were no employees during the year
14 Restricted Funds
The income funds of the charity include restricted funds comprising the following unexpected balance of donations and grants held on trust for specific purposes:
Movement in
| Village hall shop Village shop share fund Coronation celebration |
Balance at 12 November 2022 Incoming sources Resources expanded Transfer between funds Balance at 11 November 2023 17,998 15,733 (36,529) 2,798 - - 6,350 - - 6,350 - 680 (780) 100 - 17,998 22,763 (37,309) 2,898 6,350 |
|---|---|
The restrictede funds held at the year end related to the Village Shop share funds , which were banked in the Hall bank account. These funds are to be transferred to the Village shop in due course.
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