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2021-12-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021

FERRING VILLAGE HALL

(Charitable Incorporated Organisation)

CHARITY REGISTRATION No: 1167736

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF

1

FERRING VILLAGE HALL

(Charitable Incorporated Organisation)

CONTENTS

Page 3 Legal and Administrative Information Page 4 & 5 Trustees' Report Pages 6 Independent Examiner's Report to the Trustees Page 7 Statement of Financial Activities Page 8 Balance Sheet Pages 9 to 14 Notes to the Financial Statements

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FERRING VILLAGE HALL

(Charitable Incorporated Organisation)

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER 1167736 DATE OF REGISTRATION 20th June 2016 START OF FINANCIAL YEAR 1st January 2021 END OF FINANCIAL YEAR 31st December 2021 TRUSTEES AS AT 31ST DECEMBER 2021 R J Curtis S F Cornish- Appointed 25.5.21 J E Crathern A Jackson - Appointed 10.2.21 B McCann C A Fordyce - Resigned 8.9.21 J O'Sullivan T Baldwin - Resigned 29.05.21 C R Barrett M Turner - Resigned 09.05.21 D Dilks J Rayfield -Resigned 10.04.21 P G Phillip R Sims

LEGAL STATUS Charitable Incorporated Organisation GOVERNING INSTRUMENT CIO - Foundation Registered 20th June 2016

OBJECTS

THE OBJECTS OF THE CIO ARE TO RUN A VILLAGE HALL AND TO PROMOTE FOR THE BENEFIT OF THE INHABITANTS OF THE PARISH OF FERRING AND WITHIN FIVE MILES FROM ITS BOUNDARIES (THE "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.

CORRESPONDENCE ADDRESS 33 South Drive Ferring Worthing BN12 5QU PRIMARY BANKERS Lloyds Banks Plc 25 Gresham Street London EC2V 7HN

INDEPENDENT EXAMINER

K Gomes Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF

3

FERRING VILLAGE HALL

(Charitable Incorporated Organisation)

TRUSTEES REPORT

FOR THE YEAR ENDED 31ST DECEMBER 2021

Structure, governance and management

The charity is governed by its constitution dated 25th May 2016. The previous unincorporated Charity (No: 246345), had been governed by a trust deed dated 6 July 1926. All trustees give their time voluntarily and receive no benefits from the charity. The trustees are aware of the Charity Commission guidance on public benefit and confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to it. They consider that the information which follows in this annual report, about the trusts aims, activities and achievements in the area of interest that the charity supports, demonstrates the benefit to its beneficiaries, and through them to the public, that arise from those activities.

Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. The trustees meet periodically and are responsible for the upkeep of the Village Hall and safeguarding the charity's assets.

Objectives and activities

Ferring Village Hall provides facilities for the many organisations who use it (currently around 60). It is a hub of the village and has provision for the disabled (toilet and parking) . The Hall and its surrounds have been improved over the recent years.

Achievements and performance

The Hall has continued to be used and benefits the inhabitants of the village of Ferring or within a distance of five miles there from in accordance with rules and regulations made by the Trustees.

Ferring Village Hall has continued to operate as a community facility and has been designed to be as flexible as possible to meet the varying needs of the local community. It contains a spacious main hall and two separate meeting rooms. Each of these three rooms has a separate kitchen facility. The rooms are centrally heated and are naturally ventilated. The Hall has been designed in accordance with current regulations for disabled parking, disabled access and a disabled toilet.

Ferring Village Hall has attained a HALLMARK1 quality of standards scheme for village halls as certified by ACRE (Action in Rural Sussex).

During the period the Village Hall and rooms continued to be occupied for various events and functions as permitted under the government's Covid-19 pandemic restrictions

Financial review

Loss of some hire income due to the ongoing Covid-19 pandemic was ameliorated by savings in operating costs and by government support grants. Meanwhile, substantial improvements were made to the property and its facilities in order to prepare for a resumption of our normal level of activities in 2022.

The trustees therefore report a deficit of £9,042 (2020:surplus £2,533) during the financial period. At the year-end the charity had net current assets of £80,953 (2020:£88,546). The Charity also held fixed assets to the value of £690,036 (2020:£691,485) as at 31st December 2021.

Plans for future periods

The Charity plans to continue to serve the village community of Ferring.

4

FERRING VILLAGE HALL

(Charitable Incorporated Organisation)

TRUSTEES REPORT (continued)

FOR THE YEAR ENDED 31ST DECEMBER 2021

Trustees' Responsibilities

The Charities Act 2011 require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the CIO and of the surplus of the CIO for that period. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the CIO. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

----- Start of picture text -----
Approved by the Trustees on ………………………………………………………………………………
----- End of picture text -----

Signed on their behalf by ……………………………………………………………………………………

Signature:

5

FERRING VILLAGE HALL

(Charitable Incorporated Organisation)

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

Report to the trustees/members of Ferring Village Hall on the accounts for the year ended 31st December 2021 set out on pages 7 to 14.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed:

Date :4 April 2022

K Gomes Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF

6

FERRING VILLAGE HALL

(Charitable Incorporated Organisation)

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31ST DECEMBER 2021

Notes
INCOMING RESOURCES
Incoming Resources from Generated Funds
Activities for Generating Funds
4a
Investment Income
4b
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Costs of Generating Funds
Charitable Activities
5a
Governance Costs
5b
TOTAL RESOURCES EXPENDED
NET INCOMING (OUTGOING) RESOURCES
Total Funds Brought Forward
Freehold Land & Building
2 & 12
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2021
2020
£
£
£
£
34,305
-
34,305
31,926
-
-
-
308
34,305
-
34,305
32,234
42,777
-
42,777
29,011
570
-
570
690
43,347
-
43,347
29,701
(9,042)
-
(9,042)
2,533
780,031
-
780,031
777,498
-
-
-
-
770,989
-
770,989
780,031

Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.

The notes on pages 9 to 14 form part of these financial statements.

7

FERRING VILLAGE HALL

(Charitable Incorporated Organisation)

BALANCE SHEET

FOR THE YEAR ENDED 31ST DECEMBER 2021

Note
Fixed Assets
Tangible Assets
2
Investments
3
Total Fixed Assets
Current Assets
Cash at Bank and in Hand
7
Total Current Assets
8
NET CURRENT ASSETS
TOTAL ASSETSless current liabilities
9
NET ASSETS
Funds of the Charity
General Funds
Restricted Funds
6
Total Funds
Creditors: amounts falling due within one
year
Creditors: amounts falling due in more than
one year		 Unrestricted
Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
690,036
-
690,036
691,485
-
-
-
-
690,036
-
690,036
691,485
81,523
-
81,523
89,326
81,523
-
81,523
89,326
570
-
570
780
80,953
-
80,953
88,546
770,988
-
770,989
780,031
-
-
-
-
770,988
-
770,989
780,031
770,989
-
770,989
780,031
-
-
-
-
770,989
-
770,989
780,031

Approved by the Trustees on …………………………………………………………………………

Signed on their behalf by ………………………………………………………………………………

Signature:

8

FERRING VILLAGE HALL

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021

1. ACCOUNTING POLICIES

Basis of Preparation & Assessment of Going Concern

Basis of Preparation

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.

The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.

Assessment of Going Concern

Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

Incoming Resources

Recognition of Incoming Resources

These are included in the Statement of Financial Activities (SOFA) when:

▪ the charity becomes entitled to the resources;

▪ the trustees are virtually certain they will receive the resources; and

▪ the monetary value can be measured with sufficient reliability

Incoming Resources with Related Expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.

Grants and Donations

Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Tax Reclaims on Donations and Gifts

Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.

Contractual Income and Performance Related Grants

This is only included in the SOFA once the related goods or services has been delivered.

Gifts in Kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.

Donated Services and Facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

Volunteer Help

The value of any voluntary help received is not included in the accounts.

Investment Income

This is included in the accounts when receivable.

Investment Gains and Losses

This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

9

FERRING VILLAGE HALL

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021

1. ACCOUNTING POLICIES (continued)

Expenditure and Liabilities

Liability Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Governance Costs

Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.

Grants with Performance Conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

Grants Payable without Performance Conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.

Support Costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, e.g. allocating property costs by floor areas, or per capital employed, staff costs by the time spent and other costs by their usage.

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.

Pensions

Pension contributions are charged to the Statement of Financial Activities as they become payable.

Unrestricted Funds

These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.

Restricted Funds

These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of the regular appeals for special offerings made at the Sunday fellowship meetings.

Designated Funds

These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.

Fixed Assets

Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,000. They are valued at cost or, if gifted, at the value to the charity on receipt.

Land & Buildings

Land and Buildings have been valued and included within the accounts at Insurance value as at the 31st December 2017 in accordance with FRS 102 - Previous revaluation as deemed cost.

Depreciation Expense

Depreciation is calculated at a rate to write off the cost of tangible fixed assets on an appropriate basis over their estimated useful lives. The rates applied per annum are as follows:

Fixtures & Fittings 10% Straight line Equipment 33% Straight line Improvements to Freehold 10% Straight line

No depreciation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost.

10

FERRING VILLAGE HALL

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021

2. TANGIBLE FIXED ASSETS

Cost
01-Jan-21
Additions
Cost Value at
31-Dec-21
Depreciation
01-Jan-21
Charge
Depreciation at
31-Dec-21
Net Book Value
31-Dec-21
Net Book Value
31-Dec-20		 Freehold
Land &
Freehold
Fixtures
General
Total
Buildings
Improvements
Fittings &
Equipment
2021
£
£
£
£
677,000
15,675
17,700
2,715
713,090
-
-
-
-
-
677,000
15,675
17,700
2,715
713,090
-
8,521
10,370
2,715
21,606
-
716
733
-
1,449
-
9,237
11,103
2,715
23,055
677,000
6,439
6,597
-
690,036
677,000
7,155
7,330
-
691,485

Freehold Land & Buildings

See note 12

3. INVESTMENTS

The CIO held no fixed asset investments during this or the previous financial period.

11

FERRING VILLAGE HALL

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST DECEMBER 2021

4. INCOMING RESOURCES

Note
a) Activities for Generating Funds
Grants Income
Rental Income
Donations
Other Income - Deposits
b) Investment Income
Interest Received
5. RESOURCES EXPENDED
Note
a) Charitable Activities
Cleaning Costs
Deprecation Expense
IT Costs
Honorarium
Insurance Costs
Licenses & Subscriptions
Office Costs
Repairs & Maintenance
Building Improvements
Sundry Costs- Deposit refunds
Utility Costs
b) Governance Costs
Independent Examiners Fees		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2021
2020
£
£
£
£
19,374
-
19,374
13,977
12,563
-
12,563
17,949
150
-
150
-
2,218
-
2,218
-
34,305
-
34,305
31,926
-
-
-
308
-
-
-
308
Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2021
2020
£
£
£
£
5,913
-
5,913
5,381
1,449
-
1,449
3,647
1,190
-
1,190
2,691
720
-
720
930
956
-
956
922
144
-
144
144
536
-
536
229
8,443
-
8,443
11,895
18,285
-
18,285
-
1,867
-
1,867
-
3,274
-
3,274
3,172
42,777
-
42,777
29,011
570
-
570
690
570
-
570
690

12

FERRING VILLAGE HALL

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021

6. RESTRICTED FUNDS

The CIO held no Restricted Funds during this or the previous financial period.

7. CASH AT BANK AND IN HAND

7. CASH AT BANK AND IN HAND
Unrestricted Restricted Total Total
Fund Fund 2021 2020
£ £ £ £
Cash at Bank & in Hand 81,523 - 81,523 89,326
81,523 - 81,523 89,326
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Unrestricted Restricted Total Total
Fund Fund 2021 2020
£ £ £ £
Independent Examiners Fees 570 - 570 780
570 - 570 780

9. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR

The CIO held no long term liabilities during this or the previous financial year.

13

FERRING VILLAGE HALL

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021

10. STAFF COSTS AND NUMBERS

The CIO employed no members of staff during this or the previous financial period.

11. TRUSTEES AND OTHER RELATED PARTIES

No payments were made to trustees or any persons connected with them during this financial period other than approved expenses and the honorarium payment to a trustee of £720. No material transaction took place between the organisation and a trustee or any person connected with them.

12. FREEHOLD LAND & BUILDINGS

The trustees have agreed it has been difficult to ascertain with reasonable certainty the market value of the Land and Building held by the CIO at 90 Ferring Street, Ferring, Worthing, West Sussex, BN12 5JP. The Trustees of the CIO therefore agreed to include the Land & Building in the accounts at Insurance Values as at the 31st December 2017 in accordance with FRS 102 - Previous revaluation as deemed cost. The insurance value of the Land & Building was £677,000 at as the 31st December 2017.

13. RISK ASSESSMENT

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

14. RESERVES POLICY

The trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.

15. PUBLIC BENEFIT

The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake

14