# The Crispin Hall Trust # Unaudited Financial Statements 30 April 2024 ## CHARITY REGISTRATION NUMBER: 1170107 . CHALMERS HB LTD Chartered Accountants 20 Chamberlain Street Wells Somerset BA5 2PF The Crispin Hall Trust Financlal Statements Year ended 30 April 2024 Page Trustees, annual report Independent examiners report to the trustees statement of finanaal activities Statement of financial position 10 statement of cash flows 11 Notes to the financial statements 12 Page 1 The Crlspin Hall Trust Trustees, Annual Report (conOnu8dJ Year ended 30 April 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 30 April 2024. Achievements and perfomiance Crispin Hall Trust provides and maintsins a hals and a communty centre for the use of the inhabitants of Streel, Somersel and the surrounding area. Crispin Hall has a large hall, slx rooms and a residential Ilat and Crispin Community Centre has eleven rooms. The room8 and hall are either used by the trust for charitable actlvities or let out for a variety of community, retail and commercial purposes to provide Income for its charitable activities. Crispin Hall and Crispin Communty Centre continue to be hubs of the community by providing the residents of Street and the local surrounding area with 8UPPOrt, actlvities and opportunities In the centre of the village. The u8e of our facllltie8 by and for the local communlty has contlnued to plck up follovlng reopenlng of the hall Sn 2018 and lifting of the Covid19 restrictions, thereby supportlng our object of faGilitsting Improvement in the Gondltions of Ilfe for the Inhabltants of Street and the surrounding area. Crispin Hall The trustees follow a 'village hall, model whereby hirers of the hall are temporarity supplied with keys and shown where cleaning materials are stored so that after rnaking use of the hall, they are then able to clean up after themselves. Thls has proved to be an effectlve and lower cost model than our previous praclices and is overseen by Kafje Howard, Operations Manager. Some examples of regular hirers of the hall included Utt]e Clty Somerset: a pop up play area for 1-6 year olds, Elite Ladles and SKA kickboxing classes, 'Legs, Bums & Tums. exercise classes, Topaz children's dance classes, NHS mental health and vaccination sessions, Muslc For mIn￿ children's Goncerts, community meetings by Street Parlsh Council, and rehearsals by Glastonbury & Street Musical Comedy Society. Other hirers used the hall for school discos, Bridge events, Christmas, Handmade and Job fayres, young people's dance workshops, a wreath-maklng workshop, klds, birthday parties, memorial services, an aerial acrobatics summer school and many others. The community centre staff and volunteers again made use of the hall for the weekly free soup kitchen from November to March (durlng which we distributed a weekly mean average of 124 food portlons, up from 48 in the previous year), free Family Fun sessions durlng school holidays, monthly Intergenerational Tea Dances (in partnership with Millfjeld school), monthly Sunday Communty Lunches and the wildly successfijl Incluslve Dlscos every Wednesday momlng. The hall continued to see an increase in the requests for children's birthday partles and private hall hires from organisations like Somerset Council, Street Chamber of Commerce. Somerset Council, Somerset NHS Trust, families and local schools. Katie Howard, Operallons manager, commented,. °During this year I continued to build re18tion8hip8 within the community and to Venture out in order to promote the hall to wider audience with the use of posters, flyers, banners and installing more notice boards intemally. We saw an increase in Children's party bookings which allowed us to link inft)rmally wfth a local company Mendip Bouncy Castles who subsequently pn?moted us on their website and social media. When Topaz Dance Company leff it enabled us to increase the variety of our regular hirers wrth a range of different offerings from Wellbeing Tuesday Talking Café, tsttle City Somerset, two separate kickboxing groups, dance and exercise Glasses. The added addition of the t178atre group (GSMCS) really brought more footfall into the hall and we were able to promote what we do to more people and so the evening classes are thriving." Page 2 The Crispin Hall Trust Trustees. Annual Report (¢01￿M￿d) Year ended 30 April 2024 Achievements and perfonnance (eontinue(fj Crispin Hall Tenants There are three retail spaces. a dan¢e studlo and a residential flat that are leased to financlally support our charitable activities. Lauren Capel, former Crispin Hall Trust Manager, took on a five-year tenancy of the Café room in 2022 to run her own business 'Last Crumb Cafa, which continued to thrive. Our other commercial tenants - Luce loves Flowers (IlorSst), Purrfect Gift8 (craft goods) and Cirque de SSlk {aerial gymnastics teachers) continued throughout the year to be excellent tenants. The two-bedroom flat within the main building is leased to good private tenants whlch financially supports our charilable activitles. Crlspln Community Centre Crispin Community Centre is a hub in the centre of our communlty offerlng soclal, edU￿tiOnal and healthy opportunities alongside a volunteer drivers 8ervi¢e for local people. Michaela Edmunds Is the Community Centre Manager and her duties include line-management of our receptionists, ¢leaner8 and volunteer8. The Community Centre r6malns extremely well-used by a broad cross-sedon of the local Communlty, further achieving our object of facilltating improvement in the condltlons of life for the inhabitants of Street and the surrounding area. We continue to run a wide range of free and affordable aGtivilie$ for older isolated members of our community and families with chlldren of all ages. The daily coffee mornings, hours were more than doubled to 10am to 3pm followlng reception in November 2023 of a central govemment grant of £20.6k to help wtth our energy bills, to provide a warm space with free refreshments and to help us cover the costs of our free and afft)rdable activities $0 that we dldn't have to raise prices. We recruited more volunteers to help and began reGordlng the numbers of attendees - from a baseline of 189 people using our Warm Space in November this rose to 436 by the end of March 2024. The grant also enabled us to increase our famlly fvn sessions wlth activltles Including street dance, clrcus skills and graffitl workshops. Durlng the year we entertained and fed over 700 children over half-term, Easter and summer holiday events. Weekty offerlngs at Crlspln Community Centre included three seated exercise classes, three Tai Chi classes, two games aftemoons, our Social Group for adults living independently with dementia, lunch club, art group and the all-inclusNe discos in the hall. NJI aclivities continue to run thanks to volunteers. The quarterly tea dances were more popular than ever thank8 to working in conjunction with Millfield school. Rooms in the centre were used by other charitable organisations such as the MS Society, the U3A. Somerset Recovery College and Somefset Skills and Leaming. We hosted regular support groups 6uch as for fibromyalgia and stoma users and we offered a dedicated counselling room mainly used (at no cost to users) by We Hear You, MIN[) and Cruse. Three rooms remained tenanted by Mendlp District Council's advice point. Cruse bereavement charity and by Citizen's Advice. The use of the four rooms on the upper floor had been Gompromised by the broken unrepairable elevator. but at the end of the prior financial year, we were successful in being offered a £15k match-fvnded grant from Mendip District Council's Community Grant scheme toward the £30k cost of installing a new Ilft in 2023. The centre was Closed for 3 weeks in July 2023 to insta15 the new lift whlch means that we have once again been able to use the centre to its full capacty. Page 3 The Crispin Hall Trust Trustees. Annual Report (con11n￿j Year ended 30 Aprfl 2024 Achievements and perfonnance (contlnued) Much of the upper floor was redecorated and one room was redesigned as a dedicated counselling room. A noted in the prior year, the trust employed Julie Tucker to set up and run the Volunteer Drivers Service whlch helps people who are unable to get around easily by taking them to thelr doctors, hair appolntments, the community centre or church activities and even just to the shops for a very low fee to cover expenses. This seNice has continued to be a vital resource and is 100¢/0 funded by the NHS Partnership Fund (via Somerset Community Foundation), Street Parish Council and the Communlty Union. The 8epiice provided 1158 journeys for 148 reglstered users over these 12 months. The tru8t values the efforts of over 60 volunteers who helped us to run many of the aforementloned activities of the Community Centre. In summary, the trustees are once again very pleased that Crispin Hall Trust was able to continue to offer such a very broad range of activities. opportunities and offerfngs that support our objective to improve the quality of life for local people. We offer our gratitude to the organisations and indivlduals who supported us during the year. Plan8 for future perfods As noted above, thls year has seen various change8 in the year in how the Trust and its operatlon8 are run. Thls has proved to be a successful model and will Gontinue to be bullt upon and improved going forward. Overall, the trustees are keen to ensure that the hall and community centre continue to be major assets lo the local communty. It has also been fortunate to receive additional fvnds from the Nathan Clark 1984 Settlement Trust whlch will help it achleve its goals and play a key part in local15fe. The trust is continually looking for new ways to support the local communlty and Is golng to run a new service for people who struggle to gain access to a computer and provide them wlth guldance and the facility to prlnt off documents. Financlal rnview The results for the year are shown on page 10. The TNSt'8 loss for the year was £277,231 (2023: a surplus of £593,180). For the Current year, the main hall and rooms have generated rent derived from lettlng the rooms and main hall of£81,954 (2023: £67,801). The Community centre which is run direcly generates its income from the various actlvitles and clubs. Investment Perfom7anc• The Trust still has a small amount of cash held in a deposit account, although Interest recelved on thls balance in the year is minimal. As in the prior year, there has been no income from the shares thatthe trust holds in C&J Clark. The charity made an unreallsed loss of £210,000 (2023: unrealised gain of £52,500) on the unllsted investment in C&J Clark Limited shares. Information relating to changes in investments is given in note 19 to the accounts. A valuation of the shares in C&J Clark Limited has now been carried out on 28 May 2024 by BDO and has seen a decrease In the share value from £1.97 to £1.13 whlch has resulted in an unrealised loss of £210,000. Page 4 The Crispin Hall Trust Trustees, Annual Report (contlnufjd) Year ended 30 Aprll 2024 Financial Review (continued) This latest valuation at May 2024 valuation is closest to the balance sheet dats and is considered to be the fair value ofthe other investment as at 30 April 2024. Investment Pollcy There are no restrictions imposed on the Investment policy by the trust deed. The trustees make the Investments in accordance with Charity law. ReseNe8 Pollcy A8 at 30 April 2024, totsl reserves were £1.541.579 (2023: £1,818,810). Of these, unre8tri¢ted reserves were £1,541,579 (2023: £1,818,810) Including a balance on the revaluation reserve of £{30,013) (2023: (£30,013)) resulting from the valuation of the hall. A8 at 30 Aprll 2024, there are free reserves of £470,587 (2023: £520,484). The trustees utillse the Income arfsing from year to year to pay the costs of managlng and malntaining the hall and Its facllltles and the adequacy of the reserves policy is reviewed annually. Rlsk Management The charity's trustees have considered the major risks to which the cherity is exposed and a number of these came to light during the Covid-19 pandemSc. The Truslees have duly revlewed these risk8 and have established 8y8tems and procedures to manage these risks. As detailed above, the Trust also Instlgated various changes in the prlor year, which have proved to be sucGessfvl, and these should help to manage some of the risks and challenges that it had faced In the past. The trustees have also taken out relevant insurance to help protect against the identlfied risks and believe that the measures undertaken are sufficient to mitlgate any ri8k8. The tru8tees utilise the income arising from year to year to pay the costs of managlng and malntaining the hall and its facilities and the adequacy of the reserves policy is revlewed annually. Objectives and actlvlttes The Charlty was incorporated as a Charftable Incorporated Organisation (CIO) on 10th November 2016 to take forward the work of the unincorporated charity, knovm as Street Club and Institute (Crispin Hall), regSstered number. 304646. The CIO'S goveming document was amended in 2022 to Include the words "and a communty centre. (see below). Objects and Alms The governing document states: The object of the CIO is the provision and maintenance of a hall and a community centre for the use of the inhabitants of Street. Somerset without distinction of political, religious or other opinions, including use for: (1) meetings, lectures and classes, and (2) other fonrs of recreation and leisure-time occupation, wtth the object of improving the conditions of life for the inhabitants. Nothing In thls constitution shall authorise an application of the propety of the CIO for the purposes which are not charitsble in accordance with section 7 of the Charities and Trustee Investment (Scolland) Act 2005 and section 2 of the Charities Act (Northern Ireland) 2008. In furtherance of these objectives, the Trustees may grant tenancies to persons for the purposes as set out above end to encourage an interest in public and political life and the Y￿lfare of the neighbourhood of Street. Page S The Crispin Hall Trust Trustees. Annual Report (Cl￿￿nu8dj Year ended 30 Aprfl 2024 Objectives and activities (contlnue(fj The aim of the Trustees is therefore to run the Hall and Community Centre for the benefft of the resldents of Street and the surrounding area and provide them with both recreational and Sntellectual opportunities. To fulfil these aims the rooms, the flat and the main hall are let out for a variety of communlty, retail and commercial and residential purposes. Publlc beneflt The trustees review the objectives and activities to ensure that they continue to reflect the trust's aims and in carying out this review, the trustees have consldered the Charfty Commission's general guidance on public benefft. In doing so, the Trustees confirm that they have complied with section 17 of the Charities Act 2011 to have due regard to public benefit guidance publlshed by the commission. StNcturn, governance and management The Crfspln Hall Trust was previously established as a charity known 88 the Street Club and Inslitijte {Crispln Hall) under a Deed of Indenture dated 21 May 1906, 8 registered chafity, number 304646. A supplemental Deed of Amendment was made on 6 November 2012. As explained under 'ObjeGlives and activities,, it was registered as a CIO on November 2016 with the charity number 1170107. It Is govemed a¢¢ording to the 'Foundation' Constitution approved by the trustees on 8 July 2016 and reglstered by the Charity Commi88ion on 10 November 2016. mentloned above the CIO'S governlng document wa8 amended in 2022 to Include the word8 'and a communlty Centre.. Followlng the appointment of the first trustees, any fvrther trustees must have the necessary skllls and expertise required to effectlvely manage the CIO and must be appointed by a re801utlon passed al properly convened trustees, meeting. There must be at least three charity trustees and the maximum number of trustees is six. NevAy appolnted trustees are briefed on the objectives of the trust and detalls are contslned in the constitution and are glven a Copy of the Gurrent constitution and a copy of the latest trust Annual Report and accounts. The Board of TFUStees keeps the sklll requlrements for the Trustse Body under revlew. The Induction process for any newly-appointed trustee comprises an initial meeting with the Chair and the manager8. New trustees are given the charity's goveming document, our latest annual Teport and accounts, minules of recent trustee meetings and links to (or copies ofj the Charity Commission's guides 'The essential trustee: vthat you need to know (CC3)' and 'The hallmarks of an effective charity (CC10)'. Trustees al80 keep themselves up to date using informatlon from the Charities Commission and their solicitors. All trustees give their tlme freely and no remuneration was paid in the year. At the trustees, meetings, the trustees approve the board strategy and areas of the trust, including consideration of investment, reserves and risk management pollcles and performance. The day-to-day administration of the trust is delegated to thè Operafjons Manager and the Community Centre Manager. Page 6 The Crispin Hall Trust Trustees. Annual Report (widnu8dJ Year ended 30 Aprll 2024 Reference and administrative details Registered charity nam• The Crispin Hall Trust Charity rnglstratlon number 1170107 Principal office 83 High Street Street Somerset 8A16 OEZ The trustees Mr R B Clark Mr M Lovell Mr J 8 Clark Mrw R Clark Ms E Leyshon Ms JM Howard Manager The day to d8y running of the hall 18 run by the Operatlons Manager, K Howard and M Edmund8 is responslble for Crispin Communty Centre. Bank•rs National We8tmin8ter Bank PIC 7 Hlgh Street Wells, BA5 2AD Handelsbanken 66 Queen Square 8rlstol, BS14JP 8oliGitors Lancaster Pa Pear Tree House Wanstrow Somerset, BA4 4TF Independent •xamin•r Mr D C Wlnter ACA Chalmers HB Ltd 20 Chamberlain Street Wells Somerset BA5 2PF Page 7 The Crispin Hall Trust Trustees. Annual Report {condnuedJ Year ended 30 April 2024 Funds held as custodian trustee Crispin Hall was held in the name of the trustees in accordance with the Trust Deed dated 1906 and was transferred to the CIO in accordance with the transfer of assets agreement at the specified date of 30 April 2019. The trustees, annual report was approved on of the board of trustees by: and signed on behalf Mrw R Clark Trustee Page 8 The Crispin Hall Trust Independent Examinets Report to the Trustees of The Crlspln Hall Trust Year ended 30 April 2024 I report to the trustees on my examination of the financial statements of The Crispin Hall Trust (Ihe charity,) for the year ended 30 April 2024. Responsibilities and basis of report A8 the trustees of the charty you are responsible for the preparation of the financlal statements In accordance with the requirements of the Charities Act 2011 ('the Acf). I report in respect of my examinatlon of the charlty's financial statement8 carrled out under section 145 of the 2011 Act and in carrying out my examination I have followed all the appll¢able Dlrecllons gNen by the Charlty Commlsslon under 8ectlon 145(5)(b) of the Act. Ind•p6ndent examinevs statement I have completed my examination. l Confirm that no material matters have come to my attendon In onnection with the examlnation gNing me cause to belleve that in any matetlal respect: accounting records were not kept In respect of the charity a8 requlred by seclSon 130 of the Act; or the finanolal 8t8tement8 do not accord wlth th08e records; or the fjnancial statements do not comply wlth the appllcable requirements ¢oncernlng the form and contsnt of accounts set out in the Cherltles (Accounts and Report8) Regulatlon8 2008 other than any requlrement that the accounts give a 'true and falr, vlew which is not matter consideréd as part of an Independent examination. I have no concerns and have come acr086 no other matters in connection with the examination to whlch attentSon should be drawn in thls roport in order to enable a proper underslandlng of the accounts to be reaGhed. J c.tll Mr D C Imnter ACA Independent Examiner Chalmers HB Limited 20 Chamberlain Street Wells Somer8et 8A5 2PF Page 9 The Crispin Hall Trust Statement of Financial Activitles Year ended 30 Aprfl 2024 2024 Unrestricted funds Total funds Total fvnds 2023 Note Income and endowments Donations and legacies Charitable activities Investment income Other income 40.904 114.551 1,020 40,904 114,561 1.020 608.456 111,885 580 Total income 156,475 156,475 720,921 Expenditure Expenditure on charltable a¢tlvitles Total expendi￿re 223,706 223,706 223,706 223,706 180.241 180,241 Net (108ses)Igains on investments 12 {210,000) 1210,000) 52.500 Net (expendI￿r0)linc0rne and net movement In funds (277,231) (277,231 593,180 Reconciliation of funds Tolal fvnd8 brought forward Total funds carried forward 1.818,810 1,541,579 1,818,810 1,641,579 1 ,225,630 1,818,810 The statement of fjnancial activities includes all gains and1088e8 recognised in the year. All income and expenditure derive from continuing activlties. The notes on pages 12 to 26 form part of these flnanclal statements. Page 10 The CrEspin Hall Trust Statement of Flnanclal Positlon 30 April 2024 2024 2023 Flxed assets Tangible fixed assets Investrnents 18 19 788,492 282,500 805,826 492,500 1,070,992 1.298,326 Current assets Debtors Cash at bank and in hand 20 9,567 477,778 487,346 410,375 125,739 536.114 Creditors: amounts falllng due withln one year Net currnnt assets 21 16,758 15,630 470,687 1,541,579 1,641,679 520,484 1,818,810 1,818,810 Total assets less current IlabllStles Net assets Funds of the charity Unrestricted fvnds: Revaluation reserve Other Unrest￿Cted Income funds 130,013) 1,671,592 1,541,679 (30,013) 1,848,823 1,818,810 1,818,810 Total unrestrfcted funds Total charity funds 23 1,541,679 These financial ststements were approved by the board of trustees and auth0ri8ed for issuè on and are signed on behalf of the board by: Mr W R Clark Trustee The notes on pages 12 to 25 form part of these 11nanclal statements. Page 11 The Crispin Hall Trust Statement of Cash Flows Year ended 30 April 2024 2024 2023 Cash generated from operations 26 357,776 80,623 Interest paid Interest received (273> 1,020 368,523 (474) Net cash from operatlng acllvltles 80,149 Cash flow$ from investing activiti•S Purchase of tanglble assets Proceeds from sale of tsngible assets Net cash used Sn Investing actlvltles 16,484) {26,245) 1.159 (6,484) (25.086) Net Increase in cash and cash equivalents Cash and cash •quivalents at beglnning of year Cash and cash •quivalents at end of year 352,039 126,739 477,778 55,063 70,676 125,739 The notes on pages 12 to 26 form part of these financlal statements. Page 12 The Crispin Hall Trust Notes to the Financial Statements Year ended 30 Aprfl 2024 General infOrn￿tIon The charity is a public benefit entity and a registered charty in England and Wales and is unincorporated. The address of the principal office is 83 High Street, Street. Somersel. BA16 OEZ. Statomont of complianco These finandal statements have been prepared in compllance wlth FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Stat8ment of Recommended Practice appllcable to charities preparlng thelr accounts In accordance wlth the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting policies Basis of preparation The Ilnanc5al ststements have been prepared on the historlcal cost basis wth items recogn18ed al Cost or transactlon value unless Othe￿Ise stated in the relevant note(s) to these accounts 88 modllled by the revaluallon of certaln financial a88ets and liabilities. The financlal 8tatement8 are prepared In stsrllng, which18 the fvnctional ourrency of the entity. Ooing conc•m There are no material uncertalntles about the charrty's abilty to contlnuè, Judgemonts and key sou rcos of astlmatlon uncertalnty The preparation of the financlal 8tatements require8 management to make Judgements, estlmates and assumptions that affect the amounts reported. These estimates and judgements are continually revlewed and are based on experlence and other factors, Including expectatlons of future events that are believed to be reasonable under the circumstances, The judgements (apart from those involvlng estimatlons) that management has made In the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised In the financlal statements are 88 follow8.. The valuation of the Hall, as detailed In Nots 18, was performed by a firm of profe3sk)nal valuers., and The valuatlon of the Investments as detalled In Note 19. The value of £1.1318 based upon the latest valuatlon of the shares C&J Clark Ltd which was carried out on 28 May 2024. Thls latest valuation at May 2024 valuation is dosest to the balance sheet date and Is considered to be the fair value of the other investment as at 30 April 2024. The process involved making judgements of assumptions in arrivlng at a final valuation result. Taxation The trust is a reglstered charfty and accordingly Is exempt from taxation on its income and gains when they are applied for charitable purposes. **Page 13** ## **The Crispin Hall Trust** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 30 April 2024** **3. Accounting policies** _**(continued)**_ ## **Fund accounting** **General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for any other purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor.** ## **Restricted funds** ## _**Lift fund**_ **A grant was received from Mendip District Council as well as additional funds from Street Parish Council to remove the existing lift and replace with a new one. These funds were fully utilised in the prior year.** ## **Incoming resources** **All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:** **- Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably;** **- Income from net dividends is accounted for on a receivable basis.** **- Income from charitable activities is recognised on a receivable basis and is in respect of:** **-rent from the letting out of the rooms and the main hall and other activities;** **-income from the Community centre;** **-** **- Investment income, consisting of bank interest is included when receivable and the amount can be measured reliably by the charity; this is notification of the interest paid or payable by the bank.** Pag• 14 The Crispin Hall Trust Notes to the Financlal Statements (c¢wtrtlnu•dJ Year ended 30 Aprfl 2024 Accounting policies (¢oftdm￿dJ Resources expended Expendliure Is recognlsed on an accruals basls as a IlabllSty Is Incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the ststement of financial activities to which it relates.. Expenditure on Gharitsble activities Includes all costs incurred by a charlty In undertaking activities that fvrther its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportloned to charitable acfjvities. Support C08ts are those costs that assist the work of the charity but do not directly undertake charltsble activities. These costs have been allocated as per Note l O. Govemance costs, whlch form part of support costs, are those incurred in the governance atTangement of the charity which relate to the general running of the charlty as opposed to those C08t8 associated with generatSng funds or charitable activities and its assets and are primarily associated with constitutional and ststutory requirements. Tangible assets The freehold land and buildlngs, known a8 the CrlspSn Hall and the Street Club and Institute, were by Declaratlon of Indenture dated 21 May 1906, vested in the Trustee8 of the Crlspin Hall 'upon trust to allow the same to be used in such way8 as they may In thelr uncontrolled d18cretion think best for the true Interests of the Inhabitants of the Parlsh of Street." Followtng an extsnslve refvrbishment programme, the property was revalued at market value. Flxed assets are ststed at cost or valuation less provision for any Impalment. Depreciation Depreclation Is calculated so a8 to write off the cost or valuation of an 888et, le88 its residual value, over the useful economic life of that a88et a8 follov#B: Freehold propety Fixtures and Fittings Equlpment 20kn on a straight line basis 150A on a straight Ilne basis 200A on a straight line basis No depreciation was charged on the freehold property in prior years as the Trustees considered that the life of the property and its residual value was such that any depreciatlon charge would be Immaterial. The Hall has now been refurbished and was revalued as at 30 April 2018. Depreciation is now charged on the revaluatlon over 50 years. Page 15 The Crispin Hall Trust Notes to the Financial Statements (contlnu•dJ Year ended 30 April 2024 Accounting policies (¢ontlnuodJ Inveslments Investments are a form of basic financial instrument. Unlisted investments are inttially recorded at cost and are subsequently revalued to refject valuations made by BDO at a date closest to the balance sheet in order to be measured at fair value. As noted above, the value of £1.13 is based upon the latest valuation of the shares C&J Clark Ltd which was carried out as at 28 May 2024. Gains and losses All gains and 105ses are taken to the Ststement of Financial Activities as they arise. Realised gains and losses on all investments are calculated as the difference between sale proceeds and their opening carying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contraotual provisions of the instrument. The trust only has financial assets and liabilities of a 'nd that qualify as basic ffinancial instruments. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constttutes a financing transaction, Ythere it is recognised at the present value of the fv￿re payments discounted at a market rate of interest for a similar debt instrument. Cu￿ent assets and cu￿ent liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Defined contribution plans Contributlons to defined contrlbution plans are recognlsed as an expense in the period in which the related service is provided. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donations Donations receivable 4,525 4.525 Grants Grants receivable 36,379 40,904 36,379 40,904 Page 16 The Crispin Hall Trust Notes to the Flnanclal Statements fconunugdj Year ended 30 Aprll 2024 Donations and legacies (¢ontinuod) Unrestricted Funds Restricted Totsl Funds Funds 2023 Donations Donations receivable 554,986 554,986 Qrants Grants receivable 34,070 589,056 19,400 19,400 53,470 608,456 The trust recelved a small number of donations and grants in both year8, wlth the maln one amounting to £20,629 Sn thls year from Central Govemment for Winter Warmers. Thls covered the period from November to March to maintaln the centre as a warm place, Includlng extended openlng hours and free hot food and drink. A donatlon of £550,000 was recelved In the prior year from the Nathan Clark 1984 Charltable Settlement. In the prlor year, grants were recelved from Men(fip Dlstrlct Counc51 and Street Parl8h Council to remove the existlng Ilft and to replace it wlth a new one. These grants were treated as re8trl¢ted nds and fully uli1Ssed in the prior year. The Trust benefjts greatly from the Involvement and enthusiastic support of its many volunteer8 and in accordance with accounting standards, the economic contrlbullon of general volunteers k8 not measured in the accounts. Charitable actlvltlos Unrestrlcted Total Funds Unrestricted Total Funds Funds 2024 Fund8 2023 Income from rent and room hlre and other activities in maln hall Communty centre cafe Emporlum 81,954 32.597 81,954 32,697 67,801 27,055 16,986 43 67,801 27,055 16,986 43 114,551 114,551 111,885 111,885 Investment Income Unrestrictsd Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivab5e 1,020 1,020 Page 17 The Crispin Hall Trust Notes to the Flnanclal Statements fcontlnu8dJ Year ended 30 April 2024 Other income Unrestricted Total Funds Unrestricled Totsl Funds Funds 2024 Funds 2023 Gain on d18posal of t8nglble fixed assets held for charity's own use Other income 233 347 233 347 580 580 Expenditure on ¢haritabl• activities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Rent and room hire and other activities in maln hall Refvrt)18hment of hall Communty centre Cafe Support C08ts 89,823 89123 115,431 115,431 18,452 223,706 18,452 223.706 Unrestrictsd Funds Restricted Total Funds Funds 2023 Rent and room hlre and other 8dvltle8 In maln hall Refvrblshment of hall Community centre Cafe Support costs 56,247 56.247 4.147 82.950 22,267 14,630 4,147 82,950 22.267 14.630 176,094 Support and govemance costs are fvrther analysed in Note 11. 4,147 180,241 Expenditurn on charltable activities by actlvtty typa Actlvftie8 undertaken directty Support Total funds Costs 2024 Total fund 2023 Rent and room hlre and other actlvltle8 in main hall Refurbishment of hall Community centre Cafe Governance costs 89,823 5,566 95A89 59,349 4,147 85,784 22,553 8,408 180.241 115,431 4,863 120,294 8,023 8,023 223,706 205,254 18,452 Page 18 The Crispin Hall Trust Notes to the Flnanclal Statements {conflmMd) Year ended 30 April 2024 10. Analysls of charitable expenditure 2024 2023 Income from rent and main hall and other activitles Wages and salaries Pension ¢osts Rates & water Light & heat Repairs & maintenance Insurance Other establishment Depreciation Advertising Support costs (as per Note 11) Govemance costs (as per Note 11) Total 23,324 457 1,412 18,982 18,026 11,962 3,793 11,784 83 5,566 4,012 21,277 963 701 6,850 1,444 10,910 2,698 11,404 3,103 3,363 99,401 62,713 Communlty Centre Community centre - group expenses Wageslsalaries Pension costs Rates & water Light & heat Repairs & malntenance Other establlshment Motor vehicle expenses Legal and professional fees Depreciatlon Advertising Support costs (as per Note 11) Governance costs (as per Note 11) Total 22,710 54,837 3,053 1,412 8,900 8,663 3,793 14,283 46,398 2,789 561 5,983 909 2,158 110 251 9,506 30 12,033 4,863 4,011 2,834 3,363 89,147 124,305 Cafe supplies Wages and salaries Pension costs Rates & water Light & heat Repairs & maintenance Cleaning and refuse collectlon Depreciation Advertising Support costs (as per Note 11) Govemance Costs (as per Note 11) Total 5,937 11,215 269 140 1,496 127 540 2,509 34 1.682 24,235 The café was run independently for the whole of the year ended 30 April 2024. Page 19 The Crispin Hall Trust Notes to the Flnanclal Statements (¢ontlnuodJ Year ended 30 April 2024 Restrictod - Refurbishment of hall Refurbishments Professional fees 2,211 1,936 4,147 Total The refvrblshment project was prlncipally completed In the year ended 30 April 2018 and vrfas included under the heading of charitable activities. This major refurbishment programme has va8tly Improved the facilities available for the resldents of Street and nearby and will enable the trust to continue fulfilling its main charitable obJeGtlves. The fijnds that were remaining on this fund were fully utilised in the prior year. 11. Analysls of govemance and Support costs Lettlng out of rooms and Communlty maln hall Centre Cafe Total 2024 Totsl 2023 Premi8e8 General office GovemanGe costs 1,313 4,253 4,012 1,313 3,550 2,628 7,803 8,023 18,452 1,921 4,301 8,408 14,630 4,011 9,578 4,863 4,011 Govemance costs are analy8ed a8 follows,. Oovemance costs 2024 2023 Accountsncy and management service charge Legal and professlonal Independent examlnation Other finance Costs 1,026 4,024 2,700 273 705 5,229 2,000 474 Total 8,023 8.408 During the year, The Joseph & France8 Clark Charitable Trust provided aGcounting 8eNlces to the trust amounting to £1,026 (2023.. accountlng services £705). During the period. Chalmers HB, also received fees of £4,024 in respect of accounting and payroll servlces (2023: £4,251). These costs are included in legal and professional fees. 12. Net {losses)Igalns on inv•stm•nts Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Gainsl(losses) on other Investment assets (210,000) 1210,000) 52,500 52,500 Page 20 The Crlspln Hall Trust Notes to the Flnanclal Statements (contln Year ended 30 April 2024 12. Net (losses)Igalns on investrnents (trythuadj The loss on other investments arose from an unrealised loss on revaluation of £210,000 (2023: unrealised gain of £52.500) in respect of the unlisted investments held in C&J Clark Limited as detailed in note 19. 13. Net (expenditure)lincome Net (expenditure)fincome is stated after chargingl(crediting): 2024 2023 Depreciation of tangible fixed assets Gains on disposal of tsngible fixed assets 23,817 23.419 (233) 14. Independent examinatlon fees 2024 2023 Fees payable to the independent examiner for.. Independent examinalion of the financlal statements 2,71JO 2,000 15. Staff costs The total staff costs and employee beneffits for the reportlng period are anatysed as follows: 2024 2023 Wages and salaries Employer contributlons to pension plans 78,161 3,610 81,671 78,890 4,021 82,911 The average head count of employees during the year was 9 (2023: 10). No employee received employee benefits of more than £60,000 durlng the year (2023.. Nil). 16. Trusteè remuneration and expenses No remuneThqtion or other beneffits from employment with the Charity or a related entity were received by the trustees. No trustees have daimed expenses or had their expenses met by the charty (2023: £Nil). 17. Transfers between funds In the prior year, two transfers totalling £25.452 were made from the restricted fvnd to the unrestricted fund for the lift that was acquired using the grants that were Teceived in the year and the remaining balance in the refurbishment fund. Page 21 The Crispin Hall Trust Notes to the Financial Statements (￿ntInued) Year ended 30 Aprfl 2024 18. Tangible fixed assets Land and Fixtures and bulldings fftttngs Equipment Total Cost At 1 May 2023 Additions 815,000 86,325 4,684 91,009 16,864 1,800 18,664 918.189 6,484 924,673 At 30 April 2024 Depreciation At 1 May 2023 Charge for the year At 30 April 2024 Carrying amount At 30 April 2024 At 30 April 2023 815,000 81,500 16,300 97,800 19,411 5,089 24,500 11,453 2,428 13,881 112,364 23,817 136,181 717,200 733,500 66,509 4,783 788,492 805,825 68,914 5,411 Tangible flxed assets held at valuation Following the refvrbi8hment works on the hall, the property VRS revalued at market value on 1 May 2018 by T B Dike MRICS of Chesters Commercial at £815,000. The trustees have used this valuatlon for the property. In respect of tangible fixed assets held at valuatlon, the aggregats cost, depreciatlon and comparable carrying amount that y￿uld have been re¢ognl8ed If the assets had been Carrled under the hislorScal cost model are as follows,. Freehold property At 30 April 2024 Aggregate cost Aggregate depreciation Carrylng value 826,983 826,983 At 30 Aprll 2023 Aggregate cost Aggregate depreciation Carrying value 826,983 826,983 Page 22 The Crispin Hall Trust Notes to the Financlal Statements fconUnu•d) Year ended 30 Aprll 2024 19. Inv•stmonts Other inveslments Cost or valuation At 1 May 2023 Additions Fair value movements 492.61x1 (210,000) 282,500 At 30 April 2024 Impaimient At l May 2023 and 30 April 2024 Carrying amount At 30 April 2024 At 30 April 2023 282,500 492,500 All Investments shown above are held at valuallon. Unlisted investments are shown at fair value at the balance 8heet date. The unllsted investments are revalued based on a valuation of the shares by BDO. The valuation inGorporated In the accounts was prepared on 28 May 2024, the value closest to the balance Sheet date and was £1.13 per share (2023.. 31 May 2023.. £1.97 per share). At the year end, the value of the shares held at the balance sheet date 18 £282,500 (250,000 shares at£1.13 per share) (2023.. £492,500- 250,000 shares at £1.97 per Share). The 8ignlficance of financial Instruments to the trust is consldered In the financial revlew and investment policy and performance sections of the Trustees, Pnnual Report. The main rlsk from financial instruments lies In the comblnation of the share valuatlon and the dlvidend yield. 20. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 7,642 1,926 8,365 2,010 400,000 9,567 410,375 Other debtors of £400,000 in the prior year was in respect of the donation from the Nathan Clark 1984 Charitable Settlement. 21. Creditors: amounts falling due within one y￿r 2024 2023 Trade credrtors Accruals and deferred income Other credltor8 532 15,686 816 14,302 512 16,768 15,630 Page 23 The Crlspin Hall Trust Notes to the Flnancial Statements fcontlnuodj Year ended 30 Aprfl 2024 22. Pensions and other post relirement beneftts Defined contribution plans The amount recognlsed In Income or expenditure as an expense in relation to defjned contribution plans was £3,510 (2023: £4,021). 23. Analysis of charitable funds Unrestrlcted funds At Galns and 30 Apr 202 losses At l May 2023 Income Expendlture Transfers General ￿ndS Revaluation reserve Deslgnated Fund - Community Centre- Social Club Deslgnated Fund - Communty Centre - Sunday lunch Designated Fund - Community Centre- Breakfast ClublFamlly Fun 1,846,327 147,043 (213,598) (210,000) 1,569,772 (30,013) (30,013) 787 5,948 (6,271) 1,178 3,484 (3,306) 1,356 531 (531) 156,475 {223,706) 1,818,810 (210,000) 1,641,679 At 1 May 2022 Gains and At losses 30 Apr 2023 Income Expendtture Transfers General fiJnd8 Revaluatlon reserve Oesignated Fund - Community Centre- Social Club Designated Fund - Community Centre - Sunday lunch Designated Fund - Community Centre- Breakfast ClublFamlly Fun 1,240,211 692,539 {164,375) 25,452 52,500 1,846,327 (30,013) (30,013) 394 5,546 (5,153) 787 1 ,442 3,152 (3,416) 1,178 3,397 1.215,431 (3,150) (176,094) 531 701.521 25,452 52.500 1,818,810 Page 24 The Crispin Hall Trust Notes to the Flnanclal Statements (con11n￿d) Year ended 30 April 2024 23. Analysls of charitsblè funds (Con11n￿ The revaluation reserve has arisen upon the revaluation of the property as detailed in Note 18. Various small grants and donations have been received in the year and have been deslgnated to be used for the Social club and Sunday lunch club In the year and a number of donors have also given funds to aid these projects. The income and expendlture for both these has been included within unrestricted funds under the Communty Centre heading. 24. Analysls of nét assèts b•tween fund$ Unre8tr1cted Total Funds Funds 2024 Tangible fixed assets Investments Current assets Credltors less than 1 year Net assets 788,492 282,500 487,345 (16,758) 1,541,579 788,492 282,600 487,345 (16,758) 1.541.579 Unrestrlcted Total Funds Funds 2023 TangSble fixed assets Investments Current assets Creditors less than 1 year Net assets 805,826 492,500 536,114 (15,630) 1,818,810 805,826 492,500 536,114 (15,630) 1,818,810 25. Flnancial instruments The carying amount for each category of financial instrument Is as follows: 2024 2023 Flnancial assets Thasured at falr valua through income and expenditurn Flnanclal assets measured at fair value through income and expenditure 282,600 492,500 Pago 25 The Crispin Hall Trust Notes to the Flnanclal Statements (cortthuedj Year ended 30 April 2024 26. Cash generated from operations 2024 2023 Net (expenditure)fincome (277.231) 593,180 Adjustments for." Depreciation of tangible fixed assets Net (losses)Igains on investments Other interest receivable and similar income Interest payable and similar charges Gains on disposal of tangible fixed assets Accrued expenses 23,817 210,000 (1,0201 273 23,419 (52,500) 474 (233) 189 1A85 Changes in." Trade and other debtors Trade and other creditors 400,808 (256) 367.776 (403,395) (80,511) 80.623 27. Analysis of changes in net debt At At 1 May 2023 Cash flows 30 Apr2024 Cash at bank and in hand 125,739 352.039 477,778 28. Related parties As set out in Nole 11, an employee of the Joseph and Frances Clark Charitsble Trust, an employee of the Joseph and Frances Clark Charitable Trust provided accounting services to the trust amounting to £1,026 (2023: £705). Both Richard Clark and Will Clark are also trustees of the Joseph and Frances Clark Charitable Trust. An employee of this trust provlded services to Richard Clark, one of the trustees amounting to £841 and to the Street Library Trust amountlng to £1,481. Both Richard Clark and Will Clark are also truslees of the Street Library Trust. Two donations totalling £550,000 were made to the trust by the Nathan Clark 1984 Settlement Trustee in the prior year. Richard Clark is also a trustee of this trust.