STOKE RIVERS VILLAGE HALL CIO
TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
LEGAL AND ADMINISTRATIVE DETAILS
Trustees:
Mrs Nicolette Balkham Mr Robert Balkham Mrs Maureen Ireland Mr David Nott Chairman Mrs Jeanine Ash Registered office Stoke Rivers Village Hall,Stoke Rivers,Barnstaple,EX32 7LD Administration office Lower Davis Farm, Stoke Rivers ,Barnstaple,EX32 7LD Charity Registration Charity Commission in England and Wales reg no. 1155437 Bankers Barclays Bank Independent Examiner Alaster Stewart
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STOKE RIVERS VILLAGE HALL CIO
TRUSTEES’ REPORT FOR THE PERIOD FOR THE YEAR TO 31 DECEMBER 2023
The trustees present their report of the charity for the period 1 January 2023 to 31 December 2023.
Trustees
A list of trustees set out on page 1 served during the period 1 January 2023 to the date of this report.
Structure, objectives and activities
On 22 January 2014 the Stoke Rivers Village Hall CIO (hereafter CIO) was incorporated as a charitable incorporated organization regulated by the Charity Commission in England and Wales. It was incorporated to take over the activities and undertakings of two charities: the Tamlyn Rooms Stoke Rivers (TRSR) and the Tamlyn Education Foundation (TEF).
The TRSR up to 3 March 2015 ran the village hall in Stoke Rivers under a lease granted by the TEF. As the lease was coming to an end it was decided by the trustees of the TRSR and TEF to form a CIO to which the undertakings of the TRSR and the TEF would be transferred. This took place on 3 March 2015.
The object of the CIO is to establish and run a village hall in the Parish of Stoke Rivers for meetings, lectures, classes and for other forms of recreation and leisure time occupations with the object of improving the conditions of life for the inhabitants of the Parish of Stoke Rivers.
As a result of taking over the activities of the TEF the objects of this charity have been transferred to the CIO. The objects of the TEF are: to assist pupils to attend schools, institutions or classes for the purpose of education other than elementary by paying their fees, or travelling and other expenses, or by providing them with maintenance allowances; provided that the candidates for these benefits are residents of the Parish of Stoke Rivers who in the opinion of the trustees are in need of financial assistance.
The management of the CIO is entrusted to a board of trustees. The board trustees usually meet at least three times a year to discuss management of the organization.
The constitution of the CIO provides that the trustees are to be elected by the inhabitants of the Parish of Stoke Rivers at the Annual General Meeting of the Charity and to hold office until the next Annual General Meeting. The constitution also provides that organizations operating in The Parish can nominate trustees to the board of trustees if the organizations are approved by the board of trustees. At present there are no such appointees. The board of trustees have also power to co-opt new trustees. Potential new trustees are identified at Parish and other meetings and encouraged to join the board of trustees. Before doing so they are thoroughly briefed as to their future duties and responsibilities.
The policy of the Charity is to improve the conditions of life for all inhabitants of the Parish of Stoke Rivers and to keep the building and grounds of Stoke Rivers Village Hall in good condition. To this end the formation of physical and educational classes are encouraged as well as the organization of fund raising events where the inhabitants of the Parish can meet together.
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STOKE RIVERS VILLAGE HALL CIO
Public benefit
The trustees believe that they have fully met the Charity Commission’s requirement to demonstrate benefit to the public by the use of the village hall during the year. The village hall has been used in 2023 for a number of important village events including a village fete to celebrate the King Charles’s Coronation. These events reflect the fact that the village hall provides a main focus for the inhabitants of Stoke Rivers to meet socially, to make friends, to promote public spirit and accord, and generally to make better citizens of the inhabitants of the Parish. The village hall reduces isolation and loneliness which is often prevalent in rural areas. The hall is used for various parish meetings and fundraising events for the church as well as being generally available for education and community activities.
Achievements and Performance
In 2023 the village hall started to get back to normal following the restrictions imposed by Covid. We celebrated the King’s coronation in May by having a village fete. This was attended by a large number of inhabitants and their friends. There were games, marquees, food and a bar. Everybody had a good time and a considerable amount of money was raised for a new commemorative bench, trees and bulbs for outside the church, which will be enjoyed by Stoke Rivers residents and visitors for many years to come.
As the village hall was looking tired the Committee has decided to get various repairs done and repaint the hall. Quotes have been sought for the repainting and it is hoped carryout this work in the Spring of 2024.
The trustees are supported in their work by a number of dedicated volunteers without whom it would be difficult to manage the village hall. The Trustees would like to thank them for their work which makes the village hall a vital part of village life.
Financial Review
The incoming resources of the general fund for the year were £733 (2022 £3,160) and the outgoing resources were £3,873 (2022 £1,815), leaving a deficit of £3,140 (2022 surplus of £1,345 ) for the year.
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Reserves
The reserve policy of the village Hall is to maintain a level of free reserves that will enable it to ensure continuity of activities and the ability to adjust, in a measured way, to any significant change in resources. At 31 December 2023 the unrestricted fund amounts to £24,024 which the trustees consider sufficient to cover the Village hall’s reserve policy.
The trustees consider that there are and will be sufficient funds available to continue for the medium term.
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STOKE RIVERS VILLAGE HALL CIO
Risk Management
The Charity has carried out a review to identify major risks and has taken steps to mitigate them. The major risks identified are:
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*loss of income through error or fraud
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*insufficient trustees for the Charity to continue
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*insufficient volunteers for Fundraising activities
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*insufficient Funds to maintain the village hall
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health & safety and child and vulnerable people’s protection
It is the opinion of the Trustees that the Charity’s policies and procedures and controls are adequate to mitigate these risks.
Trustees Responsibilities
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
a) prepare accounts which show a true and fair view;
b) select suitable accounting policies and apply them consistently;
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c) make judgments and estimates that are reasonable and prudent;
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d) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
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e) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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f) prepare an assessment of risks and opportunities.
Approval
This report was approved by the trustees on and signed on their behalf by David Nott on 21 May 2024
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STOKE RIVERS VILLAGE HALL CIO
Independent Examiner’s Report to the trustees of the STOKE RIVERS VILLLAGE HALL CIO
I report to the trustees on my examination of the financial statements of Stoke Rivers Village Hall CIO (the charity) for the year ended 31[st] December 2023 which are set out on pages 6 to 11.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charities financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on and after 1 January 2015.
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison to the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanation from you as 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.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept as required by section 130 of the 2011 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not 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 requirements that the accounts give a true and fair view which is not a matter considered as part of the independent examination.
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 proper understanding of the financial statements to be reached.
Alaster Stewart Independent Examiner 21 May 2024
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STOKE RIVERS VILLAGE HALL CIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 DECEMBER 2023
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ |
||
| INCOMING RESOURCES | |||
| Voluntary income | |||
| Donations/Grants | 50 | 2,717 | |
| Contribution from Parish Meeting | - | - | |
| ------ | ------- | ||
| 50 | 2,717 | ||
| Fund raising | 217 | 201 | |
| Income from charitable activities | 466 | 242 | |
| ------- | -------- | ||
| - | 733 | 3,160 | |
| ===== | ===== | ||
| RESOURCES EXPENDED | |||
| Charitable expenditure | |||
| Water | 162 | 129 | |
| Insurance | 547 | 506 | |
| Depreciation | 430 | - | |
| Electricity | 388 | 403 | |
| Repairs /maintenance | 2,300 | 637 | |
| Miscellaneous | 46 | 140 | |
| ------- | ------- | ||
| (3,873) | (1815) | ||
| ===== | ===== | ||
| Net resources received/(expended) | (3,140) | 1,345 | |
| ------- | ------- | ||
| Net movement in funds | (3,140) | 1,345 | |
| ===== | ===== | ||
| Balance at 1 January 2023 | 27,164 | 25.819 | |
| ------- | ------- | ||
| Balance at 31 December 2023 | 24,024 | 27,164 | |
| ===== | ===== |
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STOKE RIVERS VILLAGE HALL CIO BALANCE SHEET AT 31 DECEMBER 2023
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
FIXED ASSETS |
|||
Freehold property |
100 | 100 | |
| Shed | 6,025 | 6,455 | |
| CURRENT ASSETS | |||
| Cash at bank | 16,982 | 20,067 | |
| Debtors | 1,017 | 573 | |
| --------- | --------- | ||
| 17,999 | 20,640 | ||
| CURRENT LIABLITIES | |||
| Creditors falling due within one year | (100) | (31) | |
| ------- | --------- | ---------- | |
| NET CURRENT ASSETS | 17,899 | 20,609 | |
| --------- | -------- | ||
| TOTAL NET ASSETS | 24,024 | 27,164 | |
| ====== | ====== | ||
| FUNDS |
- | 24,024 | 27,164 |
| ====== | ====== |
Approved by the trustees
and signed on their behalf by David Nott on 21 May 2024
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STOKE RIVERS VILLAGE HALL CIO
CASH FLOW STATEMENT YEAR ENDED 31 DECEMBER 2023
Total |
Total | |
|---|---|---|
2023 |
2022 | |
| Net inflow/(outflow) from operating activities | (3,085) | 1,270 |
| Purchase of shed | - | (6,455) |
| ------ | ------- | |
| Increase (Decrease) in cash in the reporting | ||
| period | (3,085) | (5,185) |
| Cash at 1 January 2023 | 20,067 | 25,252 |
| --------- | -------- | |
| Cash at 31 December 2023 | 16,982 | 20,067 |
| ===== | ==== | |
| Reconciliation of net incoming (outgoing) | ||
| resources to net cash inflow/(outflow) from | ||
| operating activities | ||
| Net incoming resources before other | ||
| Recognised gains and losses | (3,140) | 1,345 |
| Depreciation | 430 | |
| Decrease/(increase) in debtors /creditors | (375) | (75) |
| - | ||
| -------- | --------- | |
| Net cash inflow/(outflow) from | ||
| Operating activities | 3,085 | 1.270 |
| ===== | ===== |
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STOKE RIVERS VILLAGE HALL CIO
NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31 DECEMBER 2023
1 ACCOUNTING POLICIES
1.1 Accounting convention
The financial statements have been prepared under the historical cost convention and are in accordance with the Accounting and Reporting by Charities: a Statement of Recommended Practice (FRS102) issued in 2014,the Charities Act 2011 and applicable accounting standards.
- 1.2 The transfer of the assets and undertakings of the Tamlyn Education Foundation
(TEF) and the Tamlyn Rooms Stoke Rivers(TRSR) on 3 March 2015 have been treated as a merger as required by FRS 102.
1.3 Income
Incoming resources are included in the SAF when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy and where there is a virtual certainty of receipt.
- 1.4 Fund Accounting
Restricted and unrestricted funds are separately disclosed
1.5 Fixed Assets
The cost of the new shed has been capitalised and is being depreciated over its expected useful life of 15 years.There is no charge for 2022 as it was only acquired in November 2022.
2 The freehold of the Stoke Rivers village Hall was transferred from the TEF on 3 March 2015 at its then carrying value of £100 which was the purchase price in 1936.The trustees have given consideration to revaluing the hall to market value. Given that it is unlikely that the hall will ever be sold ,the difficulty in establishing market value and the ongoing costs of revaluation, the Trustees do not consider it appropriate to do so.
3 Fixed assets
Shed £ Cost 6,455 Depreciation (430) --------Net value at 31[st] December 2023 6,025 =====
=====
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STOKE RIVERS VILLAGE HALL CIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31 DECEMBER 2023
| 4 | DEBTORS | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| Sundry debtors |
458 | 25 | |
| Insurance prepayment |
559 | 548 | |
| ------ | ------ | ||
| 1,017 | 573 | ||
| ------ | ------ | ||
| 5 | CREDITORS |
||
| Electricity and water |
100 | 31 | |
| ------- | ------- | ||
| 6 | FUND RAISING | 2023 2022 | |
| £ £ | |||
| Plant sale | 217 201 | ||
| --------- ------ | |||
| 217 201 | |||
| ===== ==== | |||
| 7 |
DONATIONS AND GRANTS |
||
| Government COVID19 grants | - 2,667 | ||
| Book club | 50 50 | ||
| -------- ------- | |||
| 50 2,717 | |||
| ===== ===== | |||
| 8 | INCOME FROM CHARITABLE ACTIVITIES | ||
| Hire of the village hall | 466 242 | ||
| ===== ==== | |||
| 9 | REPAIRS AND MAINTENACE EXPENDITURE | ||
| £ £ | |||
| Electrical work | 1,133 - | ||
| General hall maintenance | 1,144 100 | ||
| Kitchen carpet |
- 537 | ||
| Fire safety | 23 | ||
| -------- --------- | |||
| 2,300 637 | |||
| ====== ===== |
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STOKE RIVERS VILLAGE HALL CIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31 DECEMBER 2023
10 TRUSTEES REMUNERATION
No trustee received any remuneration or expenses in 2023 or 2022
11 GOING CONCERN
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
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STOKE RIVERS VILLAGE HALL CIO
TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023