2024-03-31-accounts

Charity registration number 1161350

Company registration number 09357351 (England and Wales)

Lakenheath Peace Memorial Hall Annual report and unaudited financial statements For the year ended 31 March 2024

LAKENHEATH PEACE MEMORIAL HALL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr E Little Ms V Little Ms C Mallett Mr A Stockton Ms S Woodhead

Charity number Company number Registered office

1161350 09357351

98 High Street Lakenheath Brandon Suffolk IP27 9EW

Independent examiner

Hayden Watson Elstree House Watson's Yard High Street Cottenham Cambridge CB24 8RX

LAKENHEATH PEACE MEMORIAL HALL

CONTENTS

	Page
Trustees' report	1 - 2
Statement of trustees' responsibilities	3
Independent examiner's report	4
Statement of fnancial activities	5
Balance sheet	6
Notes to the fnancial statements	7 - 15

LAKENHEATH PEACE MEMORIAL HALL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 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)" (effective 1 January 2019).

Objectives and activities

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The charity exists to run the village hall for the benefit of the people of Lakenheath. Towards that end, it endeavours to run the letting of the hall efficiently, to maintain the premises to a high standard and to create a place that village people will want to use.

Financial review

The net result for the year was a deficit of £4,928 (2023 surplus of £6,742).

The charity is very grateful to The Village Hall Limited for their donation of £7,000.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 16 December 2014, and registered as a charity, taking over from the charity with the same name. The Company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute £1 each

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr E Little Ms V Little Ms C Mallett Mr A Stockton Ms S Woodhead

Recruitment and appointment of trustees

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LAKENHEATH PEACE MEMORIAL HALL

The directors may be appointed at a general meeting of the Charity so long as the total number does not exceed 12. All members of the Management Committee give their time voluntarily and receive no benefits from the charity.

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The company's current policy concerning the payment of trade creditors is to:

• settle the terms of payment with suppliers when agreeing the terms of each transaction;

• ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and · pay in accordance with the company's contractual and other legal obligations.

Trade creditors of the company at the year end were equivalent to XX day's purchases, based on the average daily amount invoiced by suppliers during the year.

The trustees' report was approved by the Board of Trustees.

.............................. Ms V Little Trustee

Date: .............................................

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LAKENHEATH PEACE MEMORIAL HALL

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The trustees, who are also the directors of Lakenheath Peace Memorial Hall for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial 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, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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LAKENHEATH PEACE MEMORIAL HALL

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LAKENHEATH PEACE MEMORIAL HALL

I report to the trustees on my examination of the financial statements of Lakenheath Peace Memorial Hall (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (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

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:

• 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

• 2 the financial statements do not accord with those records; or

• 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

• 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Hayden Watson

Elstree House Watson's Yard High Street Cottenham Cambridge CB24 8RX

Dated: .........................

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

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LAKENHEATH PEACE MEMORIAL HALL

FOR THE YEAR ENDED 31 MARCH 2024

		**Unrestricted **	**Unrestricted **	Restricted	Total	**Unrestricted **	Restricted	Total
			funds	funds		funds	funds
			2024	2024	2024	2023	2023	2023
	Notes		£	£	£	£	£	£
Income from:
Donations and legacies	3		7,000	80	7,080	9,174	3,113	12,28
								7
Charitable activities	4		21,610	-	21,610	22,406	217	22,62
								3
Total income Expenditure on:			28,6 10	8 0	28,6 90	31,5 80	3,3 30	34,9 10
Raising funds	5		273	-	273	469	-	469
Charitable activities	6		33,217	128	33,345	25,464	2,235	27,69
								9
Total expenditure Net income/(expenditure)			(4,880) 33,4 90	(48) 12 8	(4,928) 33,6 18	5,647 25,9 33	1,095 2,2 35	6,742 28,1 68
Transfers between funds			1,930	(1,930)	-	(167,040)	167,040	-
Net movement in funds			(2,950)	(1,978)	(4,928)	(161,393)	168,135	6,742
Reconciliation of funds:
Fund balances at 1 April 2023			42,606	168,135	210,741	203,999	-	203,99
								9
Fund balances at 31 March		2024	39,6 56	166,1 57	205,8 13	42,6 06	168,1 35	210,7 41

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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LAKENHEATH PEACE MEMORIAL HALL

BALANCE SHEET

AS AT 31 MARCH 2024

Fixed assets Notes Tangible assets 11 Investments 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Net assets excluding pension liability The funds of the charity Restricted income funds 15 Unrestricted funds	2024 £ 3,235 37,734 40,969 (1,314)	£ 166,157 1 166,158 39,655 205,813 205,813 166,157 39,656 205,813	2023 £ £ 166,15 7 1 166,15 8 2,782 43,034 45,816 (1,233) 44,58 3 210,74 1 210,74 1 168,13 5 42,60 6 210,741	£ 166,15 7 1
				166,15 8 44,58 3
				210,74 1
				210,74 1
				168,13 5 42,60

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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LAKENHEATH PEACE MEMORIAL HALL

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on .........................

..............................

Ms V Little Trustee

Company registration number 09357351 (England and Wales)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Lakenheath Peace Memorial Hall is a private company limited by guarantee incorporated in England and Wales. The registered office is 98 High Street, Lakenheath, Brandon, Suffolk, IP27 9EW.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 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.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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LAKENHEATH PEACE MEMORIAL HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings Not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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LAKENHEATH PEACE MEMORIAL HALL

1.10Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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LAKENHEATH PEACE MEMORIAL HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 3 Income from donations and legacies

Unrestricted Restricted funds funds 2024 2024 £ £ Donations and gifts 7,000 80 Grants - - 7,0 00 8 0	Total Unrestricted Restricted Tot al funds funds 2024 2023 2023 202 3 £ £ £ £ 7,080 9,174 881 10,05 5 - - 2,232 2,23 2 12,287 7,0 80 9,1 74 3,1 13	Tot al 202 3 £ 10,05 5 2,23
		2

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LAKENHEATH PEACE MEMORIAL HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

4 Income from charitable activities

Unrestricted Restricted funds funds 2024 2024 Charitable income £ £ Hall hire 9,877 - Charitable rental income 11,733 - 21,610 -	Total Unrestricted Restricte d Total funds funds 2024 2023 2023 2023 £ £ £ £ 9,877 19,523 217 19,740 11,733 2,883 - 2,883 21,610 22,406 22,623 21 7

5 Expenditure on raising funds

		Unrestricted	Unrestricted	Unrestricted
		Unrestricted		funds
				funds
		2024		2023
		£		£
	Fundraising and publicity
	Other fundraising costs	273		469
**6 **	Expenditure on charitable activities
		Charitable	Charitabl
		expenditure	e
			expenditu
			re
		2024		2023
		£		£
	Direct costs
	Equipment	2,791		1,554
	Rates	1,445		2,384
	Cleaning	3,781		3,789
	Light, Power and Heating	4,350		4,259
	Repairs and Maintenance	16,463	11,652
	Computer software and consumables	404		404
	Insurance	1,232		1,112
	Postage	2		-
	Printing and stationery	107		60
	Telephone	833		734
	Subscriptions	455		136
	Sundry	419		478
		32,282	26,562

Share of support and governance costs (see note 7)

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LAKENHEATH PEACE MEMORIAL HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Governance Analysis by fund Unrestricted funds Restricted funds 7 Support costs allocated to activities Governance costs Analysed between: Charitable expenditure	1,063 1,137 33,345 27,699 33,217 25,464 128 2,235 33,345 27,699 2024 2023 £ £ 1,063 1,137 1,063 1,137	1,063 1,137 33,345 27,699 33,217 25,464 128 2,235 33,345 27,699 2024 2023 £ £ 1,063 1,137 1,063 1,137
		2023 £ 1,137
		1,137

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

	2024	2023
	Number	Number
Total	-	-

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Tangible fixed assets

angible fxed assets
	Freehold
	land and
	buildings
	£
Cost
At 1 April 2023	166,157

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LAKENHEATH PEACE MEMORIAL HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

At 31 March 2024 Carrying amount At 31 March 2024 At 31 March 2023 12 Fixed asset investments Cost or valuation At 1 April 2023 & 31 March 2024 Carrying amount At 31 March 2024 At 31 March 2023 12 Fixed asset investments Other investments comprise: Notes Investments in subsidiaries 19 13 Debtors Amounts falling due within one year: Trade debtors 14 Creditors: amounts falling due within one year Trade creditors Amounts owed to subsidiary undertakings Accruals and deferred income	166,157 ~~166,157~~ 166,157 Oth er investme nts £ 1 1 (Continue d) 2024 2023 £ £ 1 1 2024 2023 £ £ 3,235 2,782 2024 2023 £ £ 81 - 142 142 1,091 1,091 1	166,157 ~~166,157~~ 166,157 Oth er investme nts £ 1 1 (Continue d) 2024 2023 £ £ 1 1 2024 2023 £ £ 3,235 2,782 2024 2023 £ £ 81 - 142 142 1,091 1,091 1
		2023 £ 2,782
		2023 £ - 142 1,091

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LAKENHEATH PEACE MEMORIAL HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1,3 14	1,2
	33

15 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

	At 1 April 2023	Incoming	Resources	Transfers	At 31
		resources	expended		March
					2024
	£	£	£	£	£
Community Kitchen Warm Room	1,978	80	(128)	(1,930)	-
Fixed Asset Reserve	166,157	-	-	-	166,157
Previous year:	168,135 At 1 April 2022	Incoming 8 0	Resources (12 8)	Transfers (1,9 30)	166,157 At 31
		resources	expended		March
					2023
	£	£	£	£	£
Community Kitchen Warm Room	-	2,330	(1,095)	743	1,978
New Path	-	1,000	(1,140)	140	-
Fixed Asset Reserve	-	-	-	166,157	166,157
nrestricted funds	-	3,3 30	(2,2 35)	167,040	168,135

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023 Incoming Resources TransfersAt 31 resources expended £ £ £ £ General funds 42,606 28,610 (33,490) 1,930 Previous year: At 1 April 2022 Incoming resources Resources expended Transfers £ £ £ £ General funds 203,999 31,580 (25,933) (167,040)	March 2024 £ 39,656
	At 31 March 2023 £ 42,606

17 Analysis of net assets between funds

Unrestricted Restricted Total

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LAKENHEATH PEACE MEMORIAL HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

	funds	funds
	2024	2024	2024
	£	£	£
At 31 March 2024:
Tangible assets	-	166,157	166,157
Investments	1	-	1
Current assets/(liabilities)	39,655	-	39,655
	39,6 56	166,157	205,813
	Unrestricted	Restricted	Total
	funds	funds
	2023	2023	2023
	£	£	£
At 31 March 2023:
Tangible assets	-	166,157	166,157
Investments	1	-	1
Current assets/(liabilities)	42,605	1,978	44,583
	42,6 06	168,135	210,741

18 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

19 Subsidiaries

Details of the charity's subsidiaries at 31	Details of the charity's subsidiaries at 31	March 2024 are as follows:
Name of undertaking	Registered	Nature of business	Class of	% Held
	ofce		shares held	Direct
				Indirect
The Village Hall Limited	UK	Trading	Ordinary	100.00

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