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2024-03-31-accounts

Hathern Community Library Annual Report 2023 – 2024

Charitable Incorporated Organisation Registration Number 1163357

Green Hill Hathern Leicestershire LE12 5LG

http://www.hatherncommunitylibrary.org

This annual report relates to the financial operating period of Hathern Community Library 01/04/2023 to 31/03/2024

Objectives

The object (aim) of Hathern Community Library (HCL) is to promote, for the benefit of the electoral wards of Loughborough, Dishley, Hathern and the surrounding County of Leicestershire, the provision of general library services and facilities for education, recreation or other leisure time occupation of individuals who have need of such facility by reason of youth, age, infirmity or disablement, financial hardship, or social and economic circumstances, or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants.

Structure, Governance, and Management

HCL is a registered charity with a constitution. It is a Charitable Incorporated Organisation, whose constitution makes provision for a minimum of four and maximum of eight trustees. Over the course of the current accounting period, it had the following trustees, with up to two vacancies:

The Trustees represent the strategic element of the charity and meet regularly throughout the year, keeping on top of the management, oversight and running of the library facility. A team of 37 committed volunteers work hard to provide the day-to-day operations for the library services.

HCL has a membership of 54 people who have voting rights at the Annual General Meeting, or any other General Meeting.

The library operates in partnership with, and is supported by, Leicestershire County Council (LCC). As a condition of our agreement with LCC, we are required to use their book stock. LCC is also responsible for the IT services at the library. However, we no longer receive any financial support from LCC.

HCL is also supported by Hathern Parish Council, for which we are very grateful.

Achievements

The following section demonstrates some of the library’s achievements during this reporting period.

2023/2024 saw an increase in the number of joiners and active borrowers for the library, which is very encouraging as it shows the library remains viable and an important part of the community. However, surprisingly, it shows a decrease in the number of issues.

In terms of the library’s accounts, they remain stable and steady, and so fundraising has been secondary to hosting events that raise awareness of the library and local community and promote goodwill.

The library is supported by a strong Events Team and a committed team of volunteers that manage and host some wonderful and varied events in the library, and also across the wider community.

Annual Report 2023/24

Date Issued: 28/06/2024

Page 2 of 12

Scheduled Activities

Regular, scheduled activities at HCL are well supported and help promote the library. These include:

Other Library Activities

Other activities that HCL support and promote, include:

Events in the Wider Community

HCL supports a wide range of events to promote community involvement and the library, these include:

Performance

The aims of HCL have always been in keeping with our motto of ‘Small Library, Big Ideas.’ While many of the achievements previously noted focus on the wonderful additional events and services the members and volunteers offer to the community of Hathern, it is also important to deliver the primary service – “the provision of general library services and facilities for education, recreation, or other leisure time occupation for the public at large.”

Comparison of Key Metrics

The results of this reporting year, when compared to performance data from the previous year (shown in the table below), demonstrate that HCL is steadily growing and reassuringly shows a steady trend of regular library use.

Annual Report 2023/24

Date Issued: 28/06/2024

Page 3 of 12

Metric Review Year Previous Year Difference
Issues 5746 6290 -9%
New Joiners 119 95 +25%
Active Borrowers 261 249 +5%

When we inspect the data in more detail (as below), we can see that whilst active borrowing and the total number of issues has increased on average, we are seeing a reassuringly steady trend of regular library use.

People

Membership

HCL is a charity and as a charity, membership is open to anyone who is interested in supporting the library and furthering its purpose as set out in the constitution. As a member, you have the right to vote on resolutions at General Meetings and at the Annual General Meeting.

Currently, this membership stands at 54.

Trustees

The Trustees’ role is to ensure that HCL meets its constitutional aims and financial practice of a charity.

Currently, there are six Trustees. Emma Ward and Jane Sorby will stand down at the AGM. Jane will stand for re-election until the end of the calendar year. Jim Hutson is standing for election.

We’d like to thank them for their continued support and contributions over the years.

Volunteers

HCL is brilliantly supported by 37 volunteers. Their contributions are invaluable and without them we couldn’t operate- thank you.

Treasurer’s Report

Please see the appendix for the Treasurer's report, audited accounts, and HCL budget 2024.The Trustees would like to thank Mick Garton for once again auditing the accounts.

Signed on behalf of Hathern Community Library:

Nadine Underwood Date 09/05/2023

Chair of HCL Trustees

Jane Sorby Date 09/05/2023

HCL Treasurer

Annual Report 2023/24

Date Issued: 28/06/2024

Page 4 of 12

Appendix

Treasurer’s Report and Accounts for the financial year ending March 31st 2024

We are now back in the position of monitoring our performance against a ‘like for like’ year, without the knock-on effects of Covid and I am happy to report that all looks well!

As usual, our audited accounts have been circulated along with your invitation to our AGM and if any questions have arisen which I don’t answer this evening, please feel free to put them to me at the end of this report.

The financial year has seen an increase in our overall cash balance of over £5,500 (£3,545). Whilst this more than covers the increasing expenditure we are still very grateful for the annual HPC grant that supports us in our efforts to remain a vibrant part of village life.

We have drawn up a reserves policy which will be reassessed annually according to our finances and needs. This has meant that a significant portion of our funds (£60,000) has been deposited in a 180-day savings account that currently pays 5.5%. We expect to be able to leave that money, or more, on deposit until the end of 2025, when most, if not all will be required to build, furnish, and equip the long-awaited extension. A minimum of one year’s running costs will remain on instant access.

The majority of our expenses are met through fundraising activities. Much of the fundraising income is running at an optimum level and we are unlikely to increase it in the couple of years ahead. This includes general donations, charges, magazine distribution, lottery tickets and group meetings. This year we have pushed the lottery membership close to capacity, due to the incredible generosity and loyalty of longstanding members, new joiners and even ex residents. We have raised more this year through room hire than ever before and whilst this stream of income has now ceased, we are hopeful that we will have much to offer in future, with additional space and more immediately, an AV system of our own, funded by a down payment of S106 funds.

Expenses have inevitably risen, but we have been helped enormously by a fixed price contract for electricity, which has seen us through the huge price rises of the last 2 years. However, this fix expires on 30th September 2024 and our anticipated costs, based on the existing annual usage, will rise by 50%, or around £600. Without wishing anyone to be cold, I would urge everyone to think carefully about heat use over the winter, as electricity will now be our largest expense by far.

As usual, I will close by thanking all those, whether volunteers, trustees, lottery members, borrowers or simply supporters, for all they have done to keep Hathern Library thriving - and lastly Mick Garton for auditing our reports year again!

Annual Report 2023/24

Date Issued: 28/06/2024

Page 5 of 12

HATh JMMUNThY UBRARY HCL Audited Accounts 2023- 2028 H￿￿ERNcOm￿I1HlTy LIBRARY BALAf4CE sH￿-s at Mar¢fr 3]￿ 21124 47nk - ('.urrcntAccf>Unt l)avpal Acount Uniled Truil 180 Day N1)fi￿ Account 2afi83.93- 1gOJ8' 4QQQl).VV ' IIPC (4rJnt 1500,00 ¥A - Pavpdj dLivdlkLe lithi - Iln¢a.sji￿ cheqlle% 1044.1111 , 65667_97 RepresenreEI ty. ACCUMUIATED ¥UND Balanie bruu%ht forwJrtl PJyp21 haknncc b/1 balJttLI, b/f Plus cxces ol inc(rtno overexpendknre 386.70 o.oo 3Y15.62 165667.97 T￿4$￿￿,$ Certificatio I l& ¥rvby LLbfiily Ihat lh¢ balance sheeE and the Income and ￿￿pendIture AccounE aro in accr)rdaDcewÈth the records fur the)tar ended 210 Martk 2024. I￿re￿￿Pri12o2rf Audltnrf% (￿rtIfi<￿ti1)rL. I have t￿Mined the balance Sheet the InLome ExpvTrdiiure AcLuun( dnd ¥opponinx notes for Ihe year ondoJ-.11A M3rch 2Q2 2nd th(so. are irt AccnJAnce vsith rho. TQC.n d iJformation.Tr7¥lJbletv Jpe. ..Honoraryknditor M l CPFA (edTAprrlZIJ24 Annual RÈport 2023124 PagÈ 6 of 12 Date Issued.. 2810612024

HATh *JMMUNThY UBRARY HATHERN COMMUNITY LIBRARY RECEiYfs & PAVMEliTSACCOUNT FOR PERIOD I)1.04.23 to 11.3.24 BaDIL Tran.%fer 40000.IM> Annual RÈport 2023124 PagÈ 7 of 12 Date Issued.. 2810612024

HATh JMMUNThY UBRARY HATHERN COMMUNITY LIBRARY Income and Expemditure Account for ycar ended 314 March 2OZ4 2023124 2022123 Grants Donatons Fundnisin% l.ibrAry charges 'I'ransler from petty a$h TOTAL 121.30 4ZZ4_31 6283.83 47.-111 12.27 761JSa 8286.15 Suttdry Debtors 11P1- (iant 2.3124 978&15 7695.84 Fix￿ COSL8 rapital expenditure Fundrdisin% cosrs Misce.'IAt)enus PmpLYty.services 196%.40 6P:_99 166(1 07 216.4.4 2111U.2U 0.00 211.49 927.96 4630.21 Transter to IfT April. lune} 2 Jr.zo Sundry Credito 4467.87 3671M5 Ex¢ss oliTrcr*me (wer expendwtwo -RaM 14E94 00 4r121.94J [12.27] 177. 2832.66 .CAsh - Pdypal 791&6Z Annual RÈport 2023124 PagÈ 8 of 12 Date Issued.. 2810612024

HATh *JMMUNThY UBRARY HATHERN COMMUNITY LIBRARY RE￿Wr$& PAYM￿5 ACCOUNTFOR PkXIOD 01.0423 to 313a4 BANK ACCOUNT 23/24 22/2.7 Openlng balonce 6136&6k 57343.76 Fiathern Parish [￿Un¢t1 Isou.00 )tlier LJonJiiviis bi-ary IhJrges 155.02 lil_.4n 502.32 459.26 I￿r[cry tharnwcod i￿￿(ry 4080.79 B4.QO 600.(10 2482.00 Éi.00 450_00 lirnUP.% orn Hir Ii)l>nSOrtd Wal i)ther t￿￿Ls 267_5U o.I,o SU.00 11}9.37 r incnm HPC Grdnt rranslci'trom perry r3sh LS00.00 12.27 Total Receipts 7695.A4 Annual RÈport 2023124 PagÈ 9 of 12 Date Issued.. 2810612024

HATh JMMUNThY UBRARY HATHERN COMMUNITY LIBRARY RECEIPT5 & PAYMENTS ACCOUNT FL)R PEKIOD 01.04.23 to31J.24 BANK ACCOU 33/24 22/23 1-.12.lJ(I 469.S6 282.T3 1)84.IE 271.32 453.38 2JX_S11 1074.65 WJte.r Plts8 S¢Juthern Electriclty i.cr..%ervitts 1961.90 218020 64.99 o.Do Lotter). ￿(enLy LcilL¢ry paymcrfr Pmmotfonal costs 2ti.00 13ts0 79 20.00 JOg.Ull 1660.07 329.00 77.27 27.£0 8llQ2 rJird¢ 15ivllanwus Pn)p¢rry 27.l)O 1179.45 fFJrktabledonati¢x Ichequc no IVV479} ILC Wat¢. Ichcout no IU0480) Isi.00 16ZJ4 Paypal aca)tinr Z5.ZO Totsl PaymeDLs Exceu ofrtcelptso￿r payments 51 $5.94 4U2IAIY C105ing bdlonee 25183.93 6J3(fft5.65 Annual RÈport 2023124 PagÈ 10 of 12 Date Issued.. 2810612024

HATh *JMMUNThY UBRARY HATHERN COMMUNITY UBRARY Income and Expenditsre Account for Year ended 31st March 2024 2023124 2022123 3A&70 167.76 I IA)rtery tscke ! &Jnilry clvblor J9S2.00 3152.00 Sundry Crediiors IAdvanct iicket.vles) | 283&QO 255&00 it Sales Pavpal r.harity kund I l.T. PaldApril- lune 2 11S_U6 2615.71 12. 1 1829 1 2100.IKt 10.77 2282.00 Wlnningb" Trd1i)l(..￿ LtTr 15ankA£t(¥uni 1 4076.32 3792.77 E¥¢ess olincome over ExpeDditxre Monies TTrdited lo 2023124 Less Sundry Delxors Balance carriedfonranl PoyDal Sratcment (1240.32) (1177.06) 1196.00 190J8 38fy70 Annual RÈport 2023124 PagÈ 11 of 12 Date Issued.. 2810612024

HATh *JMMUNThY UBRARY HCL Budget 2023- 2028 22123 Actual 23124 Acttsal 24125 Budoet 25126 Budget 26127 Budget 27128 Budget 28129 INCOME fjRANTS LCC CBC HPC S106 Tot•1 3000 3000 3000 iioo 4100 14000 14000 14000 14000 2500 2500 3000 3000 FVNDK41SINO Grant Appllcatknns Donatlons Charges Lottery ioooo 500 350 2900 2500 16250 5000 800 350 2900 2500 11550 5000 800 3SO 2900 3000 12050 121 338 2540 1742 4741 155 200 347 350 2822 2900 2203 2500 S527￿ 5950 500 400 2900 2500 6300 Total TOTAL INCOME 7741 8527 10050 30250 25550 14550 6300 EXPENOITURE IT Insura￿ Water Electrlcity LCC Services Malntenance Capital E¥peTrditure Fundralslng costs Professional Fees Consumables 271 453 238 1075 142 928 132 470 2B3 984 94 727 65 299 150 530 300 1280 LOO iooo 1500 50 $00 590 330 1650 iio iooo 250 100 500 300 320 800 400 1650 120 1500 75000 loo 25QQ 880 450 2500 140 1500 15000 200 400 iooo soo 2500 150 iooo 20 200 211 216 250 400 500 500 TOTAL EXPENDITURE 3338 4403 3270 5257 5160 4890 5330 24q20 80290 -54740 23670 -9120 6250 50 TOTAL RESERVES 60356 65613 70503 95423 40683 31563 31613 Annual RÈport 2023124 PagÈ 12 of 12 Date Issued.. 2810612024