2022-03-31-accounts

Charity Registration No. 1167429 Company Registration No. CE007380 (England and Wales)

BECKLEY AND STOWOOD VILLAGE HALL CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

BECKLEY AND STOWOOD VILLAGE HALL CIO

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr B Bixby Mr P Gosney Mrs A Armstrong Henman Dr H McBeath Mr G Mills Mr D Scott Mr J Walsh

Secretary Mr J Walsh Charity number 1167429 Company number CE007380

CE007380 Royal Oak House Beckley Oxford OX3 9TY

Registered office

Independent Examiner

N J Cadwallader David Cadwallader and Co Ltd Chartered Certified Accountants Suite 3 Bignell Park Barns Chesterton Oxfordshire OX26 1TD

BECKLEY AND STOWOOD VILLAGE HALL CIO

CONTENTS

	Page
Trustees' report	1 – 2
Accountants' report	3
Statement of financial activities	4
Balance sheet	5
Notes to the financial statements	6 – 11

BECKLEY AND STOWOOD VILLAGE HALL CIO

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their report and financial statements for the year ended 31 March 2022.

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 CIO'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)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The CIO's objects are to establish and run a village hall and to promote for the benefit of the inhabitants of the parish of Beckley and Stowood ("area of benefit") without distinction of sex, sexual orientation, age, disability, nationality, race or political, religious or other opinions the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their 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 conditions of life of the said inhabitants.

Detailed policies have been adopted in furtherance of these objects and are available on the parish hall website. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the CIO should undertake.

Achievements and performance Financial review

After some trial usage the hall was fully open for hire in April 2017 and achieved a healthy level of bookings from the start. The year has been affected by the Coronavirus pandemic but less so than the previous year. In both years grants were received from the Government via South Oxfordshire District Council which made up for the shortfall in income.

It is the policy of the CIO 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 CIO’s current activities while consideration is given to ways in which additional funds may be raised. In addition the trustees wish to build up reserves to allow for major repairs in the future, this is provisionally set at £4,000 per year after the first year. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the CIO is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The CIO is a company limited by guarantee registered with the Charity Commission.

The members of 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 B Bixby Mr P Gosney Mrs A Armstrong Henman Dr H McBeath (Appointed 19 May 2022) Mr G Mills Mr D Scott Mr J Walsh

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BECKLEY AND STOWOOD VILLAGE HALL CIO

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Trustees are chosen from local people to give a balance of experience and knowledge to the board and to represent a wide range of the local users of the hall. None of the members of the trustees have any beneficial interest in the company. All of the members of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

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

.............................. Geoffrey Mills

Trustee and Chairman

Dated: 27 July 2022

2

BECKLEY AND STOWOOD VILLAGE HALL CIO

Independent Examiner's Report to the Trustees

Year ended 31 March 2022

I report to the partners on my examination of the financial statements of Beckley and Stowood Village Hall CIO ('the charity') for the year ended 31 March 2022.

Responsibilities and basis of report

As the partners of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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 charity as required by section 130 of the Act; or

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

3. the financial statements 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.

N J Cadwallader Independent Examiner For and On Behalf of David Cadwallader & Co Limited Chartered Certified Accountants Suite 3 Bignell Park Barns Chesterton Bicester Oxon OX26 1TD

9 August 2022

3

BECKLEY AND STOWOOD VILLAGE HALL CIO

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

		Unrestricted	Restricted	Total	Total
				funds	funds
		2022	2022	2022	2021
	Notes	£	£	£	£
Income from:
Charitable activities	3	36,538	-	36,538	26,644
Expenditure on:
Raising funds	5	1,130	-	1,130	825
Charitable activities	4,5	29,657	600	30,257	19,979
		---------	----	---------	----------
Total resources expended		30,787	600	31,387	20,804
		---------	---	---------	----------
Net income/(expenditure) for	the year/
Net movement in funds		5,751	(600)	5,151	5,840
Fund balances at 1 April 2021		22,305	600	22,905	17,065
		---------	----	---------	----------
Fund balances at 31 March 2022		28,056	-	28,056	22,905
		======	===	======	======

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

4

BECKLEY AND STOWOOD VILLAGE HALL CIO

BALANCE SHEET AS AT 31 MARCH 2022

		2022	2021
	Notes	£	£
Current assets
Cash at bank and in hand		47,266	33,205
		----------	---------
		47,266	33,205
Creditors: amounts falling due within
one year	8	19,210	10,300
		-----------	---------
Net current assets		28,056	22,905
		======	======
Income funds
Restricted funds		-	600
Unrestricted funds		28,056	22,305
		-----------	---------
		28,056	22,905
		======	======

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 2019. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 27 July 2022.

.............................. John Walsh Trustee and Treasurer

5

BECKLEY AND STOWOOD VILLAGE HALL CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

Beckley and Stowood Village Hall CIO is a private company limited by guarantee incorporated in England and Wales. The registered office is Royal Oak House, Beckley, Oxford, OX3 9TY.

1.1 Accounting convention

The financial statements have been prepared in accordance with the CIO'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)” (as amended for accounting periods commencing from 1 January 2016). The CIO is a Public Benefit Entity as defined by FRS 102.

The CIO has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the CIO. 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 CIO 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 unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors 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 CIO.

1.4 Incoming resources

Income is recognised when the CIO 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.

Cash donations are recognised on receipt. Other donations are recognised once the CIO 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 CIO 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.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts and other sales related taxes.

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BECKLEY AND STOWOOD VILLAGE HALL CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

1.5 Resources expended

Liabilities are recognised as expenditure as soon as there is legal or constructive obligation committing the charity to the expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the charity. Where costs can not be directly attributed to particular heading they have been allocated to activities on a basis consistent with the use of resources.

1.6 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.

1.7 Financial instruments

The CIO 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 CIO's balance sheet when the CIO 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.

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 CIO’s contractual obligations expire or are discharged or cancelled.

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BECKLEY AND STOWOOD VILLAGE HALL CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

2 Critical accounting estimates and judgements

In the application of the CIO’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 Charitable activities

	General	150 Club	Total	Total
			2022	2021
	£	£	£	£
Hire of Hall	22,211	-	22,211	4,877
Events	795	-	795	-
Council Grant	10,667	-	10,667	19,907
150 Club Subscriptions	-	2,865	2,865	1,860
	______	______	______	_____
	33,673	2,865	36,538	26,644
	======	=====	======	=====
Analysis by fund
Unrestricted funds	33,673	2,865	36,538	26,644
	======	=====	======	=====

4 Raising funds

	Unrestricted	Total
	Funds
	2022	2021
	£	£
Trading costs
Support costs	546	528
	_	_
	546	528
	======	======

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BECKLEY AND STOWOOD VILLAGE HALL CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

5 Charitable activities

Unrestricted funds

	General	150 Club	Total 2022	Total 2021
	£	£	£	£
Events	320	-	320	-
Utilities	4,279	-	4,279	2,527
Insurance	1,769	-	1,769	1,679
Maintenance/Facilities	8,363	-	8,363	10,070
Cleaning	2,974	-	2,974	1,575
Booking	6,042	-	6,042	3,113
Equipment	3,763	-	3,763	25
Sundry	1,601	-	1,601	461
Prizes	-	1,130	1,130	825
	_____	_____	_____	_____
	29,111	1,130	30,241	20,275
	=====	=====	=====	=====

Restricted funds

In November 2021 £600 which had been held for many years by the CIO and its predecessor trust was passed to the Parish Council to contribute to the construction of an outdoor table tennis table. The money was originally raised by the local branch of the Women’s Institute to provide outdoor facilities for local teenagers and was referred to as the “Kickwall Fund”. The trustees agreed with the Parish Council that this was a suitable use for these funds in line with the purpose for which they were originally raised.

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BECKLEY AND STOWOOD VILLAGE HALL CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Prize Winners 150 Club 2021-22

Month	1st Prize £40	2nd Prize £30	3rd Prize £20	Total
June 2021	Bob & Liz Bixby	Tom Smith & Suzanne Aigrain	Roger & Viviene Pearson	90
July 2021	Chris Britton	Sarah Kazmi	Kate & Andrew McMichael	90
August 2021	Judith Rawlinson*	Ann & Geoff Henman	Jack Drew	50
September 2021	Ann & Geoff Henman	Judith Bushrod	Charles Hunter-Pease	90
October 2021	Sue Baker	Tim & Pia Key	Katie Herbert	90
November 2021	Deirbhile O’Grady	Jan & Fred Weller	Christina Weir	90
December 2021 – Double	Simon White	Bob & Liz Bixby	Mary Ashdown	180
January 2022	Bill & Marion Weinstein	Susan Coxhead & Geoff Mills	Pat Moss	90
February 2022	Joan & Stuart Ring	Julia & Mish Hanson Abbott	Joan & Stuart Ring	90
March 2022	Christina Weir	John & Rebecca Black	Ann & Geoff Henman	90
April 2022	Chris Britton	Tim & Pia Key	Susan Hunter- Pease	90
May 2022	Simon Gardner-Bond	Judith Bushrod	Sue Baker	90
				1,130

• Prize generously donated back to the CIO’s funds

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BECKLEY AND STOWOOD VILLAGE HALL CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

6 Trustees

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

7 Employees

There were no employees during the year.

8 Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	5,967	2,681
Accruals and deferred income	13,243	7,619
	_	_
	19,210	10,300
	======	======

9 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

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