Trustees Annual Report 2023-24
The trustees are pleased to present their annual report and balance sheet for the year ended 31[st] March 2024 and confirm they comply with the requirements of the Charities Act 1993, as amended by the Charities Act 2006 and the trust deed and the Charities SORP 2005.
1. Our Object, Vision and Strategy
The primary object of the Trust (as laid out in our constitution) is:
To further or benefit the residents of Thorpe and the surrounding area, without distinction of sex, sexual orientation, race or of political or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time with the objective of improving the conditions of life for the residents.
In setting our vision, strategy and objectives and planning our activities, our Trustees gave careful consideration to the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education on fee-charging.
1.1 Our Vision:
The vision that shapes all our activities is: To put Thorpe Village Hall firmly back at the heart of the local community . When the Trust was set up in 2014, we created a strategy to enable us to achieve our vision:
1.2 Our Strategy
We will achieve the vision by utilising and developing our relationships with contacts in the local community and local business to:
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better understand local needs and identify ways that we could provide added benefit to the people of Thorpe and surrounding areas
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source popular events and publicise these locally
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use funds from business use to subsidise community and charity activities
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sympathetically refurbish the hall to make more of its historic features and create a unique venue for all sorts of events.
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ultimately create a popular and sustainable venue which is managed by the community for the community
1.3 Our Objectives:
This is our tenth year of operation and the fifth year of our new 15 year lease with Runnymede Borough Council.
The Trustees have agreed the following priorities for the next 3 years:
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to continue to work with the local council to carry out remedial works to cure damp issues in the building
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to continue to maintain the building to an acceptable standard for hire
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to look into funding opportunities for interior reparations
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commissions guidance on public benefit.
1.4 Structure Governance and Management
The Trust is now led by three Trustees who are responsible for the overall management of the Trust and ensure that it complies with all necessary policies and Acts. They form part of the Trust’s management team, which consists of another 5 volunteers, including local residents.
This group meets at least quarterly, with additional meetings with just the three Trustees. All Trustees give their time freely and no remuneration or expenses were paid in the year.
2. Achievements and Performance 2023-24
In this financial year we incurred unprecedented increases with some of our utility bills, due to the national increase of Gas & Electric. As a result, we have ended this financial year at a loss and has meant we have had to increase the rates to our Hirers for the first time in 5 years and hampered the amount of improvement work we were able to do.
3. Financial Review
In accordance with our Constitution, the income of the CIO has been applied solely toward the promotion of our primary object and any profits reinvested into furthering our object.
Our attached balance sheet shows that we made a loss of £3,627.01 on the year. £18,397.42 was spent on maintaining the hall. The income of £14,770.41 was solely from lettings.
Our balance moving forward of £36,673.48 still provides us with the financial security to enable us to proceed with our next refurbishment projects to improve the Hall.
4. Future Plans
Depending on the ongoing increase in expenses to the Hall, this will determine what refurbishments we will be able to undertake in the next year.
Our main priorities in the coming year would be to replace some of the door frames and doors, along with replacing the Hall flooring.
Thorpe Village Hall Surrey Balance Sheet 1st April 2023 - 31st March 2024
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|Income from 2023-2024 £14,770.41|
|Expenditure from 2023-2024 £18,397.42|
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|Loss for 2023-2024 £3,627.01|
|Balance carried forward from 2022-2023 £40,300.49|
|Loss for 2023-2024 £3,627.01|
|------------------|
|Balance to be carried forward to 2024-2025|£36,673.48|
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Income and Expenditure for 1st April 2023 - 31st March 2024
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|Income|Expenditure|
|Regular Hirers £8,545.08 Trade Waste £1,026.25|
|Function Hirers £3,625.33 Lease £1,650.00|
|Deposits Received £2,600.00 Gas £5,118.34|
|Electricity £2,221.07|
|Water Rates £803.63|
|Cleaners £1,440.00|
|Cleaning Materials £233.31|
|Building Insurance £777.17|
|Liability Insurance £330.17|
|Maintenance £681.82|
|Alarm Lines £517.83|
|Security Monitoring £345.00|
|Premise Licence £70.00|
|Advertising £435.33|
|Deposit Returns £2,747.50|
|------------------- --------------------|
|£14,770.41 £18,397.42|
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