porrEN END VILLAGE HALL CIO REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page 1- 3 ANNUAL REPORT OF THE TRUSTEES INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET 7 - 10 NOTES TO THE ACCOUNTS
POTTEN END VILLAGE HALL CIO ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Tnjslees present their pOrt and financial statements for the year ended 31 December 2023. The Potten End Village Hall land and buildings were rgInallY the sufy'ect of a settlement by the lat& Miss S R Courtauld in 1928 and hekj by the National Council for Voluntary Organisalions {NCVO) as the Offla1 Custodian Trustee of it. On 13 January 2017 the Trustees of Potten End Vi118ge Hall set up a Charitable Incorporated Organisation (CIO) with th6 Charity Commission Iregislored nLtmber 11711101. The unincorporated chartty {registered number 3024461 passed 8 resolution on 8 October 2018 to transfer all assets and Ilabilities to the new CIO. The Offi'cial Cusl¢xlian declded to withdraw from acts'ng as 'Cuslodian Trustee, for the propety and pass r6sponsibility lo the CIO. Transfer of the legal ti118 was completed in May 2019 and the propety is included in th8 accounts at a deemed carrylng value of nil based on the original grft. A professional market valuation has not been sought but for Insurance purposes th8 propety has been revaluèd by us on a reinstatement basis of in excess £1.3M as al 310ecember 2023. The following were Trustees durlng and al the end of the flnancial y89r.' Appointlng organisatlon O-optéd co-opted o-opted coPIed Padsh Council Berkhamsled Stralhspey & Reel Club Women's Institute Potten End Scouts Group Church Womèn's Fellowship Holy Trinity Parochlal Church Council Mr Mlchael A Wallis rs Lynda Clarke Mrs Valerie Gunn Mr Brendan Minahan Mr Davld Grimsdal& Mrs Diane Stevens Mrs Pat Gale Mr Andrew Bailey Mrs Jane Hazzard Ms Sara Raybould Chair of Trustees Honorary Secretary Honorary freasurer Honorary Buildings Advisèr Mr8 Valerte Gunn also rgprèsents Ashridge DPAS. Mrs Glll Grainger of Women's Institute resigned 15 Septémber 2023 Mr Danny Bonwitt of Potten End Gardening Club resigned 13 February 2023 Mr Andrew Bailey of Potten End Scouts Group resigned 9 October 2023 Mr Alan Howllng of Potten End 8owls Club r88igned 9 October 2023 No repres8nlative has yet been put forward by Potten End Bowls Club, Potlen End Scouts Group or Brownies and Guides. Honorary Lllo Mrs Val Col8 C*r•taker Managw and Deslgnated Preml8es Supervl•or. Mr Gary Brennan Independent Examlner - Mr Grant Franklin ACA Bankern - National Westrninsl&r Bank Ppc, High Slreel, 86rkhamsted, Harts.
POTTEN END VILLAGE HALL CIO ANNUAL REPORT FOR THE YVR ENDED 31STDECEMBER 2023 {Contlnuod) Objects, oryan18atlon and actlvltles The objects of the CIO, which mirror those of the 1928 Settlement are lo allow the Village Hall Premises lo used for the purposes of physical and mentsl recreab.on and s¢xial and intellectual development for the benefit of the inhabitants of Nettleden with Potten End Parish. The Hall is available for hire in accordance with standing hire agreement and on a s¢ale of charges determined by the Trustees. It is intended that the income from hiring should b8 sufficient to Ver all outgoings for the running and maintenance of the Hall. The Trustees del&gale to th8 Caretaker Manager the day-to-day runnlng of the H811, including the taking of bookings and cleaning. He has also been appointed to be the Designated Premises Supervisor as defined in the Licensing Act 2003. The Trustees have referred to the guldance conlain&J in the ChaTity Commission general guidance on publlc b8nefit when reviewing the aims and oblectlves of thè CIO and in planning its fubJre a¢b'vilies. In particular the Trusl8es consider how planned activities will conlrlbute to thè aims 8nd objeGtNes they have sel. The five-year Business Plan sets out how the Vlllage Hall sets out the key objéctives of it, evaluated by.. Maintaining 8 prograrnrne of sound Govern8n¢e processes Delivoring a Financlal Plan Ihat aims lo genergte 5ufflclenl funds to meet all expendllure In connection with the Village Hall Carrying out a programme of building maintenance Activities Dellvering a Marketing Plan that alm5 k ensure local inhabitants and other potential user8 are aware of the benefits of using P()tt8n End Village H811 Ensuring that the Hall's facilities are up to dale and fil for purpose Support and managemnl to employees Rovlow of actlvltlq• A budget was agrè8d for 2023 projecting income from letlings of £28,000 wttich was reviewed al each of the Iruslge meetlngs. The letlings outcome was sllghtly below that of2022 despite an increase In fees with revenue from Saturday booklngs no doubt adv8rsely affected by the Cost of living crisis. Tha Vlllage Hall conllnues to play a kèy rol8 with the Parish Council and Holy Trinity Church In organlsing events in the village and Coronatlon Fundlng of £3,185 was rgceiv9cI. Overall income, excludlng thè Coronatlon Gwnt of £3185, was £32,105 againyt budget of £31,800, satisfactory outcom8 for the year. Total èxpenditure, before depreciation and Coronation Celebration monies of £40,020, was ahéad of budget at £31,416 principally a8 8 result of the need ft)r roof repairs and heatin9 System maintenance. Improved lighting was also c8rrled out In thè foyer. The three-year contracts with Crown Gas & Power and EDF Energy agreed in 2021 but thive from November 202110 29 November 2024 shielded us from the 5ubstaTrlial global increase in 8nergy costs. Actual expenditure for this was £2,175 below budget. Reserves remain at a healthy level although investments wrth the COIF Charities Investment Fund saw an Increase In value of £2,338 to £27,760. Overall, the Trustees are satisfied that the CIO'S financial position continues to be sound and adequate lo meet its objectives. They recognise the need to carefully monitor Continual rising general costs but al the same lime ensure that the Hall is maintsined to a satisfactory level. The 5 Year Business Plan focuse8 on ways of increasing revenue by Ineased usage of the Hall ané from regular income trom residents of the parish who wish to donate lo the chanty through the FrTend5 of Potten End Village Hall.
porrEN END VILLAGE HALL CIO ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (Continued Roserves and Rrsk Management Policy The TNstees historically have sought lo hold a minimum of 6 months annual runnlng expenses in the General Fund, and this has been maintsined. The Trustees receive financial reports at each of their meetings during the year and compare actual perfomiance to that budgeted at the beginning of the year. The Trustees have considered the major risks to which the chanty may b8 exposed and are satisfi8d that systems are in place to mitigate exposure to those risks. Trustees and OfflcerJ Trustees are nominated by local associated qrganisalions and appoint8d annualw at the AGM. The CIO'S officers Ichaimian, Secretary and Treasurer) are nomally ¢Owopled annually at the AGM or during the year lo fill a casual vacancy. Statement of Trustees. responsiblllties Charity law requires the Trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and ils financial activities fr)r that period. In preparing those financial statements, the trustees are required to.. • select suitable accounting policies and then apply them consistently-, • observe the methods and principles in the applicable Clyartties SORP., ' make judgrnents and Èstimates that are reasonable and prudent., ' state whether applicable accounting standards have been followed, subject to any departures disc(05ed and explained in the financial statements-, and prepare tre financial statements on the going concem basis unless il Is inappropriate to presume that th@ charity will continue in operational existence. The Trustees are responsibl8 for keeping proper accounting records which disclose with reasonable accuracy al any time the financial position of the charil comply with the Chartti'es Act 2011. and appli and to enable them to ensure that the financial statements ble Chariti@s (Accounts and Reports) Regulations. They arè also responsible ft)r s8feguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularili8S. Independent Examiner The Trustees are gfatefvl to the 1ndendeftt Examiner, Mr Grant Franklin, for his continued attentron to the Charity's affairs. Approved by the Trustees on alulatyand signed on its behalf by.. (Chairman) (Treasurer)
POTTEN END VILLAGE HALL CIO INDEPENDENT EXAMINER'S REPORT TO POTfEN END VILLAGE HALL CIO I report to the Charity Tfustees on my examlnalB)n of the acccxjnts of the Ch2rity for the year ended 311t Dec8mber 2023. Résponth'bilitios and basi8 of report A8 the Charty's Trustees, you are responsib16 for the preparation of th8 accounts in accord8n¢e with the requirements of the Ch8rrti8s Act 20111 the Act'l. I report in respect of my examination of the Chartvs accounts carrled out under seclton 145 of the 2DI1 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Ccmmisslon undar section 145151{bl of the Act. Indfjpondent Examlnerfs StatemenL" Your attention is drown lo th8 fact th&t the Charity has prepared the accounts in accordance wrth Accounting and Reporting by Charf(ies'. Stalemgnt of Recommended Practice applicable to chari(i8s prep8ring their accounts in accordance with the Financial Reporting St8nd8rd applic8ble in the UK and RepubliG of Ireland {FRS 102) in preference to the Accounting and Reporting by Charilie8.' Slal6m8nl of Recommended PractSce 168ued on 1 April 2005 which is refèrred lo in the extant regulahons bul ha8 been wkhdrawn. l undars18nd that this has been done in order tor the aecounts to provida a Irue and falr vlew in aordanCe with the Generally Accepted Accounting Pracliee effe¢tive for reportin9 periods b89innlng on orafter l JÈnuary 2015. I h8ve completed my examination. I confirm that no mal6rfjal m*ll&r$ have com& to my attention In conn¢Gllon wf(h the examinats'on whi¢h give me cause ID belIe that in, ony materlal re8pecl: th8 accounting recordB wara not kept In accordance with seGtv)n 130 of the Charllle8 Act,. or the 8ccounls did not accor(I with the 8ccounting rgGords', or the accounts did not comply wllh the applicable requiremen18 concemlng the fomi and eont•nt of a¢counts set out In the Ch8rrtie3 (Accounts and Roports} Regulations 2008 olh8r than any requirement th81 the aounts giv8 a 'lrue and f8Ir' view which is not a maller consideied as part of gn Independgnl examination. I have no concern8 and have come ocros8 no other matters in Gonnectlon wRh the ex8mSnalion to which attention 8hould be drawn In this report in order to 8nabl8 a proper undgrstanding of the 8¢¢ounls lo be hed. Mr Fran lin ACA Chartered Accountant SI14 1ts3LF
porrEN END VILLAGE HALL CIO STATEMENf OF FINANCIAL ACMVlnES FOR THE YEAR ENDED 31ST DECEMBER 2023 Notas nre rfcted Fund General Maintenance Endo Fu Fund 2023 Total 2022 Total INCOME Income from lettings Income from inv6slments Deposit interest Fundraising events Donations and legact05 Other Income TOTAL INCOME 25,539 25,539 762 1,283 3.728 643 3,335 35.290 762 1,283 26,846 759 269 1.142 25,419 10,325 64,760 3.728 643 150 30,060 3,185 3.185 2,045 EXPENDITURE Village hall runnlng expens88'. CarelakeRs salary Water ral08 Llghl and hoat T818phone dnd knlemgl Insur&nc8B Llcen¢e8 R8palrs and malnl6nan¢e Equipment & repiacèmon18 Laundry and deanlng Sundry 8xpendrture linc IT costs) Depreclallon CoronallonlJublloe c8lebratk)ns to PC Househokl Support Fund peymenls PfeSSiOnal fggs TOTAL EXPENDITURE 11,398 917 6.725 637 1,923 432 12,649 397 2,979 593 2,126 11,398 917 6.725 637 1,923 432 13,149 397 2,979 593 4,703 3,185 300 570 47,908 11,079 841 8,119 555 1,469 615 2,195 5.083 3,598 366 4,703 6,658 200 500 10 2.577 3,185 300 570 41,346 6.562 45,481 NET INCOMEIIEXPENDITURE) BEFORE GAINSILOSSES ON INVESTMENTS 111,288) 2,045 (3,377) 112,618) 19.279 NET PROFITSILOSSES ON INVESTMEMTS PROFITSIILOSSES) ON REVALUATION Unrealis8d NET INCOMEIIEXPENDITURE) 2,336 4.381 {11,2861 2,336 (3,6551 (10,282) 15,624 (3,377) FUNDS BROUGHT FORWARD 41.388 47,556 29.932 600 119.476 103,852 TRANSFER BETWEEN FUNDS FUNDS CARRIED FORWARD 30,102 51,937 26,555 600 109,194 119,476 The notes on pages 7 to 10 fomi part of these accounts
POThE14 END VILLAGE HALL CIO 8PLANCE SHEET AS AT 31ST DECEMBER 2023 Notes 2023 2022 TANGIBLE FIXED ASSETS Land and buildings Exlenslon to building Heating sy5t8m INindows Invgstments 8,834 35.851 27,760 72.445 11,779 37,609 25,424 74,812 CURRENT ASSETS Debtors and Prepayrrenls Ch8rilles Deposit Fund Cash at bank and in hand 3,403 29,101 12,688 3.560 41,317 3,297 48,174 45,192 CURRENT LIABILITIES Creditors 18,4431 (3,5101 NET CURRENT ASSETS 36,749 44,664 NET ASSETS 109,194 119,476 FUNDS Unrestricted Income fvnd$ General Fund Maintenanc8 Fund Re$trl¢ted Income funds Restrfcled Fund Endowment Fund 30,102 51.937 82,039 28.555 600 41,388 47,556 88,944 29.932 600 109,194 119,476 TOTAL FUNDS The notes on pages 7 to 10 fonn part gf th88e accounts Approved by the Twstees on alts la¥ and sign8d on its behaff by.. Chairman Treasur&r
POThEN END VILLAGE HALL CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 1. Accountlng convention The accounts havo bean prep8r6d under the historical cost convenlKJn 8s modified by the r8valu8lion of Investments and are in accordan with FRS 102. Charfli8s Act 2011 and, lo the extent that it applies to smaller chaiTties, Charit*$ SORP (FRS 102). 2. Accounting policies (Il Allocation of income All income {includin9 r8&led and unre81ised galns or losses) from Investments and deposll accounts is crèdited or debited to the Maintenance Fund wh8n receNable. lill Expenses are accounted for on the 8ecwals basis. 011) IngIMentS are staled at their quoted market values 81 th8 balance sheet data. 3. Tanglbk Ilxed a8s0t8 0)Th8 V1118ge Hall and eotlage land and buildings were the 8ublect ol a selllemeni by Miss S R Court8uld made on 28th June 1928 of whlch The OfflrAal Cuslodlan for Charit188 Was the Trust88. On 13th May 2019 the Custodian Trusloe Iran8feffed the legal title of th8 Villagé Hall property to thè CIO. The prop¢rty subjgct to th8 transfer was consldered to have a neglIgl& carylng value at the date of transfer and Is therefore Indudod In the flnancKal slalements at a value of nll. Capital expgndilure thcurrpd on the buildSng 8ubsaqugnt to th8 1928 $olllem8nt has been r8cognl86d In the rèlovant yearn flnanc181 statements al Cost. Legal Iltl8 tsf th& Villag& Ham 18 held by the CIO as permanent endowm8nl on the 8am8 tru815, so far as reasonabty Practicable, on which tha property was held immediatèty prior to its transfer. Tho bulldlng8 are Insured by th& CIO for In &xcoss of £1,300,000 based on the 8$tlmaied relnsl818m$nt cost. (111 The Hairs H&8tlng 8yStem was replaced In 2017. Thls has b98n rgcorded In the accounts al ¢osl and b belng dgprecl8led based on an estlmaled useful 8conomlc Ilfe of 10 yea. {illl Roplacemenl of the Hall's ndOwS was complgled In 2020. Thls has been recorded in the aGcoun18 al cost and is belng depr8ciated bas$d on an estlmted useful econom lffe of 25 years. 2023 2022 {Iv) Capllalised alemenl of cost8 of extenslon In 2000 Cost at 31 Dgcember2023 24,000 24,000 Depreciation at 31 December 2023 Nel book value al 31 December 2023 (vl Hgaling System Cost al 31 D8cember2023 24,000 24,000 29.449 29,449 Depreciation al 1 January 2023 CharwJe for thg year preclation al 31 Defflber 2023 17,670 2,945 20,615 14,725 2,945 17,670 Nel book value at 31 December 2023 8,834 11,779
POThEN END VILLAGE HALL CIO NOTES TO THE RNANaAL STATEMEMrs FOR TrE YEAR ENOED 31 DECEMBER 2023 3. Tanglblt fixod a88ets Iconlnued) {vi) Wn(Jows Cost at 31 December2023 2023 2022 43,942 43,942 Depreciation al 1 January 2023 Chatge for the year Oepreciallon al 31 December 2023 6,333 1,758 8,091 4,575 1,758 6,333 Nel book valu& al 31 Decan*)er 2023 35,851 37.609 Ivlll Inv951m&nls General Fund and Malntenance Funds {UnreStctedI At 1 January 2023 Additions Disposals RevaluatKJns In year Al 31 Decemb6r2023 25,424 29,079 2,336 27,760 3,6551 25,424 The Inveslmanls are 811 held in the COIF Charitles Inv88lment Fund. 4. D•btors ond prepaym•nts Debtors Olherdeblors & prepaymènts 897 2,508 3.403 706 2.854 3,560 3. Credltors AccnJals & defened Incomg Deposits advgn 1,180 7,263 8,443 1.045 2,465 3,510
porrEN END VILLAGE HALL CIO NOTES TO THE HNANCJAL STATEMEKrs FOR ThE YEAR ENDED 31 DECEMBER 2023 6. Analysls of funds Opening Nel incorne Trdn$feYs Investment Closing balances gains baianc8S Unre$trfcted funds- G8neral Fund Unrestrictéd funds - Maintenance Fund ReslriG16d fund - Heating system R88lricted fund - Repl8ment wndows Reslricled fund Household Support Fund Restricted fund - Roof repal Reslncted fund . Endowment Fund 41,388 47,556 2,828 26,304 300 500 600 111,286) 2.045 {1,3331 11,2441 13001 (5001 30.102 51,937 1,495 25,060 2,336 600 119.476 12,618 2,336 q09.194 Genèral Fund - Th18 Is an unr88tr1cled fund that provldes the worklng caplt81 for Ihe CIO'S 8clhilte8. Maintenanc6 Fund - This18 an unr8slrfcled fund e8tabll8h&d lo provide for any future mar costs 88$oclated vAth tha bullding. Re8triclad Fund - Thls relates lo donallons giv8n towards roplacing the h8atlng System 8nd windows and lo grants recelved toward8 roof repairs and al$0 money Ge[Vod under the Govemm6nt Household Support Fund schgme. Endowment Fund - Thls was glven by M135 Court8uld in 1931 to assl8t in meetlng the exp¢ns8s of the Vlllage Hall, wlh power to use capital as InGonk. 7. Donatlons and legacl•s 2023 2022 Donatlons Legacig8 Gift Ai(1 358 419 25.000 285 643 25.419 8. Oth•r income Loeal authority Coronamrus grants Local aulhorily award Govemm8nl Household Support Fund CoronalionlJUbiQ Celgbralrons Funding Contribution from Pollen End Gardening Club 2,667 5QO 500 6,658 3,185 150 3,335 10,325
POThEN END VILLAGE HALL CIO NOTES TO The NNAWAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2023 2023 2022 9. Ropair8 and maintenane• Roof repairs El8Ctrical wort( Security and fi systems Heating syslern maintenan General works Lawnmower maintenanr Grounds maintenance PA system 7,038 1,004 865 1,344 823 479 342 360 634 285 95 1.512 563 13,149 2,195 10. Equlpment & replacoments Hearing Joop replacent Prujeclor and screen replacement GÈnerdl replacements 980 3,696 407 397 397 5,083 11. TrUStse remuneration None of the Trustees rec8wed any rgnmjneralion 12P22 - none). The Trusle&s were re#rt)U@d for exp8nses totallln £598 {2022.. £306) incunBd by Iham on behalf of the CIO. 12. Taxation The CIO is a registered charity and accordingly is Sxpmpt from taxation on its Inc0Th and gains svher8 they a appli&d for charitabl8 purposes. 10