REGISTERED CHARITY NUMBER: 1158821
Trustees' Report and Financial Statements
for the Year Ended 31st December 2022
for
Theydon Bois Village Association CIO
Cooper Paul Abacus House 14-18 Forest Road Loughton Essex IG10 1DX
Theydon Bois Village Association CIO
Contents of the Financial Statements for the Year Ended 31st December 2022
| Page | |
|---|---|
| Trustees' report | 1 to 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 to 11 |
| Detailed statement of financial activities | 12 to 13 |
Theydon Bois Village Association CIO
Trustees' Report for the Year Ended 31st December 2022
The trustees present their report with the financial statements of the charity for the year ended 31st December 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 2019).
Objectives and activities
To promote the benefits of the inhabitants of Theydon Bois and the neighbourhood together defined by Theydon Bois Parish boundary (hereinafter called "the area of benefit") without distinction of sex or political, religious or other opinions by associating together the said inhabitants and the local authorities, voluntary organisations and inhabitants in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants.
In furtherance of this objective, the Trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission's published guidance concerning the operation of the Public Benefit requirement under the Act.
Achievement and performance
Review of activities and achievements
Hall usage returned to normal (pre-covid) levels again in 2022. Most of our regular hirers started to meet again in line with their usual routines, and the one-off bookings started again. We hosted a grand fundraiser for the Ukraine refugee appeal which raised over £30,000, had a variety of quiz nights, charity events and personal occasions such as parties. The Montessori also continued to run as normal (which is our highest-income Hall user). We also reviewed our charging structure during 2022, simplifying it and applying some increases to reflect inflationary pressures on our costs. As a result of these various activities, and sound financial governance, our financial position has remained in good order.
We undertook essential maintenance work including a review of our storage facilities and carrying out some work on the trees and foliage around our car park. Marion Smith, one of our valued Trustees, retired at the end of 2022. Sadly, our assistant Caretaker Ralph passed away in early 2022 which was a shock and cause of sadness for us. We took on Lee Cornish to take on this role. We thank Marion and Ralph for their service to the Village Association.
Financial review
Financial position
Net outgoing resources for the year were £26,373 (2021: net outgoing resources of £38,555) thus at the end of this year, the Charity had net assets of £371,759 (2021: £398,132).
Investment powers and policy
The trustees' investment powers are governed by the Constitution, which permits the Charity's funds to be applied at the absolute discretion of the trustees. As at the date of the balance sheet there were no restricted funds held by the Charity.
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Theydon Bois Village Association CIO
Trustees' Report for the Year Ended 31st December 2022
Financial review
Reserves policy
It is the policy of the Charity to maintain unrestricted funds, which are the free reserves of the Charity, at a level which at least equates to approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs and to respond to emergency applications for grants, if necessary. Unrestricted funds were maintained at this level throughout the year. As our building and its equipment age, the costs of maintenance are increasing.
Going concern
At the time of approving the accounts, 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 accounts.
Structure, governance and management
Governing document
The Charity is constituted by a declaration of trust dated 18th August 2015 and registered as a Charitable Incorporated Organisation with the Charity Commissioners under charity number 1158821. The charity was created as a CIO by transferring all the assets and liabilities, including the land, from charities 301415 and 301415-1, previously constituted in May and September 1965. The effective date of transfer for accounting purposes was the end of 2015. The trustees of the charity are appointed by the members at the annual general meeting. The general committee meets monthly.
Induction and training of new trustees
New Trustees are inducted into the workings of the Association and given the Charity Commission leaflets CC3 and CC3(a), Responsibility of Charity Trustees, the latest accounts which have been subject to an independent examination and up to date management figures.
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.
The trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
Reference and administrative details
Registered Charity number
1158821
Principal address
Theydon Bois Village Hall Coppice Row Theydon Bois Epping Essex CM16 7ER
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Theydon Bois Village Association CIO
Trustees' Report for the Year Ended 31st December 2022
Trustees
P P Simmance - Hon. Chairman A Lloyd - Hon. Treasurer L Blake - Hon. Secretary (resigned 29/3/2022) M Smith (resigned 31/12/2022) A Ames G James D L Gillespie J F Watts L A Tilling P D Gooch M R Oliver W Morris
Independent Examiner
Cooper Paul Abacus House 14-18 Forest Road Loughton Essex IG10 1DX
Bankers Business Banking Barclays Bank plc Leicester LE87 2BB
Cater Allen 9 Nelson Street Bradford BD1 5AN
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. ................................................................. A Lloyd - Trustee P P Simmance - Trustee Hon. Treasurer Hon. Chairman
Page 3
Independent Examiner's Report to the Trustees of Theydon Bois Village Association CIO
Independent examiner's report to the trustees of Theydon Bois Village Association CIO
I report to the charity trustees on my examination of the accounts of Theydon Bois Village Association CIO (the Trust) for the year ended 31st December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
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the accounts 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 requirement that the accounts give a true and fair view which is not a matter considered as part of an 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 a proper understanding of the accounts to be reached.
Andrew Gibson BA BFP FCA Cooper Paul Abacus House 14-18 Forest Road Loughton Essex IG10 1DX
Date: .............................................
Page 4
Theydon Bois Village Association CIO
Statement of Financial Activities for the Year Ended 31st December 2022
| 2022 Unrestricted fund Notes £ Incoming resources from Activities for generating fund 2 90,739 Investment income 3 105 Other income 5,165 Total 96,009 Resources expended on Costs of generating voluntary income 118,746 Other 3,636 Total 122,382 NET INCOME/(EXPENDITURE) (26,373) Reconciliation of funds Total funds brought forward 398,132 Total funds carried forward 371,759 |
2021 Total funds £ 66,864 14 12,000 78,878 114,153 3,280 117,433 (38,555) 436,687 398,132 |
|---|---|
Continuing operations
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
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Theydon Bois Village Association CIO
Statement of Financial Position 31st December 2022
| 2022 Unrestricted fund Notes £ Fixed assets Tangible assets 8 200,494 Current assets Debtors 9 8,075 Cash at bank 173,172 181,247 Creditors Amounts falling due within one year 10 (9,982) Net current assets 171,265 Total assets less current liabilities 371,759 NET ASSETS 371,759 Funds 11 Unrestricted funds 371,759 Total funds 371,759 |
2021 Total funds £ 238,951 8,357 158,609 166,966 (7,785) 159,181 398,132 398,132 398,132 398,132 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. A Lloyd - Trustee Hon. Treasurer
............................................. P P Simmance – Trustee Hon. Chairman
The notes form part of these financial statements
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Theydon Bois Village Association CIO
Notes to the Financial Statements for the Year Ended 31st December 2022
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charity, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Incoming resources
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.
Resources expended
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.
Freehold property - 4% on cost Fixtures and fittings - 25% on cost
Taxation
The charity is exempt from 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Creditors
Creditors are amounts owed by the charity. They are measured at the amount that the charity expects to have to pay to settle the debt.
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Theydon Bois Village Association CIO
Notes to the Financial Statements - continued
for the Year Ended 31st December 2022
| 2. Activities for generating fund 2022 £ Hall hire 90,739 3. Investment income 2022 £ Deposit account interest 105 4. Support costs Governance Finance costs £ £ Other resources expended 36 3,600 5. Independent examiner remuneration 2022 £ Fees payable to the charity's auditors for the audit of the charity's financial statements 1,720 Other non-audit services 1,880 |
2021 £ 66,864 2021 £ 14 Totals £ 3,636 2021 £ 1,540 1,704 |
|---|---|
6. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the year ended 31st December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2022 nor for the year ended 31st December 2021.
7. Staff costs
| Wages and salaries The average monthly number of employees during the year was as follows: Staff |
2022 £ 45,003 45,003 2022 6 |
2021 £ 38,521 38,521 2021 6 |
|---|---|---|
No employees received emoluments in excess of £60,000.
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Theydon Bois Village Association CIO
Notes to the Financial Statements - continued
for the Year Ended 31st December 2022
8. Tangible fixed assets
| Cost At 1st January 2022 and 31st December 2022 Depreciation At 1st January 2022 Charge for year At 31st December 2022 Net book value At 31st December 2022 At 31st December 2021 9. Debtors: amounts falling due within one year Trade debtors Prepayments 10. Creditors: amounts falling due within one year Payments on account Accrued expenses |
Freehold property £ 961,410 722,459 38,457 760,916 200,494 238,951 |
Fixtures and fittings Totals £ £ 96,444 1,057,854 96,444 818,903 - 38,457 96,444 857,360 - 200,494 - 238,951 2022 2021 £ £ 7,369 8,357 706 - 8,075 8,357 2022 2021 £ £ 2,674 3,069 7,308 4,716 9,982 7,785 |
|---|---|---|
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Theydon Bois Village Association CIO
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
11. Movement in funds
| At 1/1/22 £ Unrestricted funds General fund 398,132 TOTAL FUNDS 398,132 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 96,009 TOTAL FUNDS 96,009 |
Net movement At in funds 31/12/22 £ £ (26,373) 371,759 (26,373) 371,759 Resources Movement expended in funds £ £ (122,382) (26,373) (122,382) (26,373) |
|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1/1/21 £ 436,687 436,687 |
Net movement in funds £ (38,555) (38,555) |
At 31/12/21 £ 398,132 398,132 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 78,878 78,878 |
Resources Movement expended in funds £ £ (117,433) (38,555) (117,433) (38,555) |
|---|---|---|
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Theydon Bois Village Association CIO
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
12. Related party disclosures
A loan of £478,000 was secured with the Public Works Loan Board in September 2000 by Theydon Bois Parish Council to fund, by way of grant, a part of the building costs of the Village Hall by the Village Association. Repayments of principal and interest totalling £34,981 are made each year by Theydon Bois Parish Council. The amount of the loan outstanding as at 31st December 2022 is £95,739.
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Theydon Bois Village Association CIO
| Detailed Statement of Financial Activities for the Year Ended 31st December 2022 Incoming resources Activities for generating fund Hall hire Investment income Deposit account interest Other income Sundry income Government grants Total incoming resources Resources expended Raising donations and legacies Wages Rates and water Insurance Light and heat Telephone Computer, postage & stationery Sundries Subscription & licences Hall repairs & maintenance Cleaning & waste collection Gardening Freehold property depreciation Support costs Finance Bank charges Governance costs Independent examiner remuneration Auditors' remuneration for non audit work |
2022 £ 90,739 105 1,165 4,000 5,165 96,009 45,003 2,169 4,231 9,687 1,591 1,143 210 318 7,269 5,670 2,998 38,457 118,746 36 1,720 1,880 3,600 |
2021 £ 66,864 14 - 12,000 12,000 78,878 38,521 417 3,700 8,724 1,468 631 293 878 14,768 3,177 3,119 38,457 114,153 36 1,540 1,704 3,244 |
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This page does not form part of the statutory financial statements
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Theydon Bois Village Association CIO
Detailed Statement of Financial Activities for the Year Ended 31st December 2022
| Total resources expended Net expenditure |
2022 £ 122,382 (26,373) |
2021 £ 117,433 (38,555) |
|---|---|---|
This page does not form part of the statutory financial statements
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