**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.
Page 1
## **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
Page 2
## **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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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
Page 5
## **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
Page 6
**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.
Page 7
## **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.
Page 8
## **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|
|---|---|---|
||||
||||
||||
Page 9
## **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)|
|---|---|---|
Page 10
**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.
Page 11
## **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|
|---|---|---|
This page does not form part of the statutory financial statements
Page 12
## **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
Page 13