POThEN END VILLAGE HALL CIO REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page 1- 3 ANNUAL REPORT OF THE TRUSTEES INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET 7 - 10 NOTES TO THE ACCOUNTS POThEN END VILLAGE HALL CIO ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their report and financial statements for the year ended 31 December 2024. The Potten End Village Hall land and buildings were originally the subject of a settlement by the lats Miss S R Courtauld in 1928 and held by the National Council for Voluntary Organisations (NCVO) as the Official Custodian Trustee of it. On 13 January 2017 the Trustees of Potten End Village Hall set up a Charitable Incorporated Organisation (CIO) with the Charrty Commission (registered number 1171110) The uninco￿orated chartty (registered number 302446) passed a resolution on 8 October 2018 to transfer all assets and liabilities to the new CIO. The Official Custodian decided to withdraw from aGting as 'Custodian Trustee. for the property and pass responsibilty to the CIO. Transfer of the legal title was completed in May 2019 and the property is included in the accounts at a deemed carrying value of nil based on the original gift. A professional market valuation has not been sought but for insurance purposes the property has been revalued by us on a reinstatement basis of in excess £1.4M as at 31 December 2024. The following were Trustees during and at the end of the financial year.. Appolnting oryanlsatlon Co-opted (Tropted co-opted c¢MPted Parish Council V*lotrEn's Instttute Church Women's Fellowship Holy Trinty Parochial Church Council Mr MiGhael A Vvallis Mrs Lynda Clarke Mrs Valerie Gunn Mr B￿ndan Minahan Mr David Grimsdale Mrs Pat Gale Mrs Janè Hazzard Ms S8ra Raybould Mrs Valerie Gunn also represents Ashridge DFAS. Mrs Diane Stevens of Berkhamsted Strathspey & Reel Club resTgned June 2024 and was replaced by stephen Webb in June 2024 but who then resigned September 2024. As at 31 December 2024 no representative had been put fop•vard by Potten End Bowls Club, Potten End Scouts Group or Brownies and Guides. Chair of Trustees Honorary Secretary Honorary Treasurer Honorary Buildings Adviser Honorary Life Mrs Val Cole Caretaker Manager and Designated Premises Supervisor - Mr Gary Brennan Independent Exam5ner - Mr Grant Franklin ACA Bankers - National Westminster Bank Plc. High Street, Berkhamsted. Herts. porrEN END VILLAGE HALL CIO ANNUAL REPORT FOR THE YEAR ENDED 31STDECEMBER 2024 (Contlnued) Objects, oryanisatlon and activities The ob]ects of the CIO, which mirror those of the 1928 Settlement are to allow the Village Hall Premises to be used for the purposes of physical and mental recreation and social and intellectual development for the benefit of the inhabitsnts of Nettleden with Potten End Parish. The Hall is available for hire in accordan￿ wrth a standing hire agreement and on a scale of charges detemined by the Trustees. It is intended that the income from hiring should be sufficient to cover all outgoings for the running and maintenance of the Hall. The Trustees delegate to the Caretaker Manager the day-to-day running of the Hall. 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 guidance contained in the Charty Commission general guidance on public benefit when reviewing the aims and objectives of the CIO and in planning its future activities. In particular the Trustees consider how planned activities will contribute to the aims and objectives they have set. The five-year Business Plan sets out how the Willage Hall sets out the key objectives of it, evaluated by.. Maintaining a programme of sound Governance processes Delivering a Financial Plan that aims to generate sufficient fijnds to meet all expenditure in connection with the Village Hall Carrying out a programme of building maintenance activities Delivering a Marketing Plan that aims to ensure local inhabitants and other potential users are aware of the benefits of using Potten End Vi118ge Hall Ensuring that the Hall's facilits.es are up to date and fit for purpose Support and management to employees Rovlew of a¢tlvltle6 A budget Was agreed for 2024 projecting income from lettings of £32,000 which was reviewed at each of the trustee meetings. The lettings outcome was ahead of this at £34.607 due to an increase in wedding re￿ptIonS and parttes. The Village Hall continues to play a key role wrth the Parish Council and Holy Trinity Church in organising events for the village. Overall income was £44,192 (including grants of £3240) against budget of £36,580, a satisfactory outcome for the year. Total expenditure before depreciation of £41.625 was ahead of budget at £32,972 principally as a result of the need ft)r floor refurbishment costing £7,656. The three-year contracts with Crown Gas & Power and EDF Energy finished 29 November 2024 for Gas and 31 December 2024 for electricity. This shielded us from the substantial global increase in energy costs. Actual expenditure for this though in 2024 was £3,108 below budget. New Contracts have been entered into with Yu Energy for tNo years.. Gas 30 November 2024 to 29 November 2026 and Electricity 1 January 2025 to 31 December 2026. Pricing was agreed ahead of inflation in 2024 as preparation for the marked increase in pricing expected on the new contracts. Resepies remain at a healthy level with investments maintsined with the COIF Charities Investment Fund showing a small increase to £28,387 andthe Charities Deposit Fund £22,860. A major project has been agreed to refurbish the kitchen in the Caretaker Manager accommodation once funds allow with Grant Funding being sought towards this from the Parish Council. Overall, the Trustses are satisfied that the CIO'S financial position continues to be sound and adequate to meet its objectives. They recognise the need to carefulw monitor continually rising general costs but at the same time ensure that the Hall is maintained to a satisfaGtory level. The 5 Year Business Plan focuses on ways of increasing revenue by increased usage of the Hall and from regular income from residents of the parish who wish to donate to the charity through the Friends of Potten End Village Hall. POThEN END VILLAGE HALL CIO ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (Continuad) Réserves and Risk Management Policy The Trustee5 historically have sought to hold a minimum of 6 months annual running expenses in the General Fund, and this has been maintained. The Trustees receive financial reports at each of their meetings during the year and compare actual performance to that budgeted at the beginning of the year. The Trustees have considered the major risks to which the charity may be exposed and are satisfied that systems are in Pla￿ to mitigate exposure to those risks. . Trustees and Officers Trustees are nominated by local associated organisations and appointed annually at the AGM. The CIO'S officers (Chaimian, Secretary and Treasurer) ate normally co-QPted annually at the AGM or during the year to fill a casual vacancy. statemènt of Truste￿. responsibilltie8 Charity law requires the Trustees to prepare financial ststements for each financial year which show a true and fair view of the stste of affairs of the charity and its financial activities for that period. In preparing those financ￿7 statements, the trustees are required to: • select suitable accounting policies and then apply them consistently; . observ8 the methods and principles in the applicable Charities SORP; • make judgments and estimates that are reasonable and prudent. state whether appllcable accounting standards have been followed, subject to any 'departures disdosed and explained in the financial statements. and prepare the financial statements on the going concem basis unless It is inappropriate to presume that the charity will continue in operational existence. The Twstees are responsible for keeping proper accounts'ng records which disclose wlth reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, and applicable Charities (Accounts and Reports) Regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the Pfevention and detection of fraud and other irregulanties. Independent Examiner The Trustees are grateful to the Independent Examiner. Mr Grant Franklin, for his continued attention to the Charity's affairs. Approved by the Trustees on It and signed on its behalf by: (Chairman) ILUL POThEN END VILLAGE HALL CIO INDEPENDENT EXAMINER'S REPORT TO POTTEN END VILLAGE HALL CIO I report to the Trustees on my examinatlon of ts accounts of Potten End Village Hall CIO for the year anded 31st December 2024. Responslbilitles and basis of report As the Chanty's Trustees, you are responsible for the preparation of the accounts in accordance with the r8quirements of the Charities Act 2011 (Ihe Act.). I report in respect of my examination of the Charitvs accounts (arried out under section 145 of the 2011 Act and in carying out my examination. I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Indepandent Examlnerfs Statem•nt.' Your attention is drawn to the fact that Ihe Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practlce applicable to charitias preparing their accounts in accordance with the Financlal Reporting StsndaTd applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Ststement of Recommended Practlce iSSU8d on 1 April 2005 vthlch is referred to in the extant regulations but has been y￿UldraWn. l understsnd that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for repartbng periods beginning on or after 1 January 2015. I have completed my examinats"on. I confim IITat no material matters have come to my 8ttention in rxjnneclion with the examination {other than that disck)sed below ') which gives m8 caus8 to belivle that in. any material respect: the accounling recL)rds were not kept in accordance with section 130 of the Charities Act: or the accounts did not acwrd with the accounting records., or the accounts did not compty with the applicabl8 requirements conceming the form and cont8nt of acGounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view whith is not a matter considered as part of an independent examination. I have no concerns and hav8 come across no other matters in conneclion with the examination to which attention sh¢Juld b8 drawn in this report in order to enable a proper understanding of the accounts to be ached. This report is made solely to the Charity's Trustees, as a body, in aGcordan¢e with Part 4 of the Charities {Accotsnts and Reports) Regulations 2008. My work has been undertaken so that l might state to the Charty's Trustees those matters l am required lo stste to them in an independent examinerfs report and for no other purpose. To Ihe full extent permitted by law, I do not accept or assume resF()nsibility to anyone other than Cha and th harity's T stees as a body, for my V￿rk or for this report. Mr G D Frsnklin CA Chartered Accountant 17 porrEN END VILLAGE HALL CIO STATEMEKf OF HNANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2Q24 Notes Unrestricted Funds 2024 General Mantenance Restrictad Endowment Total Fund Fund Fund Fund 2023 Total INCOME Income from Settings Incom8 from investments Deposit interest Fundraising events Donattons and legacies Other incom8 TOTAL INCOME 34,607 34,607 773 1,259 3,063 1,100 3.390 44,192 25.539 762 1,283 3,728 643 3,335 35,290 773 1,259 3,063 1.100 150 38,920 3,240 3.240 2.032 EXPENDITURE Vi1Sage hall Nnnlng exp8nses'. Caretakefs salary Water rates Light and heat Telephone and intemet Insurances Licences Repairs and malntenanGe Equipment & replacements Laundry and cleaning Sundry expenditure (inc IT costs) Depreciation Coft)nationlJubilee Gelebrations to PC Household Support Fund payments Professional fees TOTAL EXPENDITURE 11.879 1.089 6,392 727 2.045 698 14,223 191 3.411 970 2.564 11,879 1,089 6.392 727 2,045 698 14.723 191 3,411 970 5,251 11,398 917 6,725 637 1,923 432 13,149 397 2,g79 593 4,703 3,185 300 570 47.908 500 2,687 44.189 3.187 47,376 NET (EXPENDITUREYINCOME BEFORE GAINSILOSSES ON INVESTMENTS (5.269) 2.032 53 (3,184) (12,618) NET PROFIT ON INVESTMENTS PROFIT ON REVALUATION Unrealisod NET (EXPENDITUREYINCOME 627 2,659 627 2,336 (2,557) (10.282) (5.269) 53 FUNDS BROUGHT FORWARD 30.102 51,937 26.555 600 109.194 119.476 TRANSFER BETWEEN FUNDS FUNDS CARRIED FORWARD 24,833 54,596 26,608 600 106,637 109,194 The notes on pages 7 to 10 foffn part of these accounts POTfEN END VILLAGE HALL CIO BPJANCE SHEET AS AT 31ST tECEMBER 2024 Notes 2024 2023 TANGIBLE FIXED ASSETS Land and buildings Extension to building Heating system Windows Cottage windows Investments 5.889 34.093 13,155 28.387 81.524 8,834 35,851 27.760 72,445 CURRENT ASSETS Debtors and Prepayments Charities Deposit Fund Cash at bank and in hand 4.342 22.860 6,633 3,403 29,101 12,688 45,192 33.835 cuRRE￿r LIABILITIES Creditors (8,722) (8,443) NET CURRENT ASSETS 25.113 36,749 106,637 109,194 NET ASSETS FUNDS Unrestrlcted Income funds General Fund Maintenanc8 Fund Reslrlcted Income funds Restricted Fund Endovnnent Fund 30,102 51,937 82,039 26,555 600 24,833 54,596 79.429 26,608 600 1Q6.637 109,194 TQTAL FUNDS The notes on pages 7 to 10 fomi part of thesa accounts Approved by the Trustees on and signed on its behalf by: aimian Treasurer porrEN END VILLAGE HALL CIO M)TES TO TrE ANANapL STATEMEKrs FOR TrE YEAR ENDED 31 LECEI￿R 2024 1. Accounling convention Th8 accounts have been prepared underthe historical cost ¢onv8ntion as mOd￿Led by the revaluation of investmenls and are in accordance with FRS 102, Charitbes Act 2011 and. to the extent that it applies lo smaller charities, Charilies SORP (FRS 102). 2. Accounllng policies (i) Allocation of - All income (Including reafised and unrealised gains or losses) from investfflents and deposit accounts is credited or debited to the Maintenance Fund when receivable. (li) Expenses are ac(xJunted for on the aGcrua15 basis. (iii) Investments are stated at their quoted market values at the balance sheet date. 3. Tangible fixed assets (i)The Village Hall and cottage land and buildings were the subject of a settlement by Miss S R Courtauld made on 28th June 1928 of which The Official Custodian for Charities was the Twstee. On 13th May 2019 the Custodian TnJst8e transf8ffed the legal tit18 of the Vilage Hall property to the CIO. The propety subjeGt to the transfer was consKJered to have a negligible CAn￿ng value at th8 date of transfer and is therefore indudgd in the financ￿7 statements at a value of nil. Capital expenditure incutred on the building subsequent to the 1928 Settle￿nt has been recognised in the relevant years financial statements at cost. Legal title of the Village Hall is held by the CIO as permanent endownent on the same twsts. so far as reasonab practicable. on whkch the property was held immediately prior to its transfer. The buildings are insured by the CIO for in excess of £1.400.000 based on the estimated reinstatement cost. (li) The Hall's Heating system was replaced in 2017. This has been recorded in the accounts at cost and is being depreGialed based on an estimated useful economic lrfe of 10 years. (iii) Replacement of the Hall's windows was completed in 2020. In 2024 the windows of the cottage have been replaced. These have both been reCO￿ed in the accounts at (yjst and are being depreciated based on an 8Stimated useful eGonotnic lrfe of 25 yea￿. 2023 2024 (Iv) Capitalis8d element of costs of extension in 2000 Cost at 31 December 2024 24,000 24,000 Depreciatlon at 31 December 2024 Net book value at 31 De￿rnber 2024 24,000 24,000 (v) Heating System Cost at 31 De￿mber 2024 29.449 29,449 Deprec￿li0n at 1 January 2024 Charge for the year Depreciation at 31 December 2024 20.615 2.945 23,560 17.670 2,945 20,615 Net book value at 31 December 2024 5.889 8,834 POTTEN END VILLAGE HALL CIO NOTES TO THE FINANCIAL STATEVEKrs FOR TrE YEAR E￿ED 31 DEcEP￿R 2024 3. Tangible fixed assets (continued) 2024 2023 (vi> Windows Cost at 31 December 2024 43,942 43,942 Depreciation at 1 January 2024 Charge for the year DepreCiat￿n at 31 December 2024 8,091 1,758 9,849 6,333 1,758 8,091 Net book value at 31 December 2024 34,093 35,851 (vil) Cottage windows Additions Cost at 31 December 2024 13,703 13,703 Charge for the year Depreciation at 31 December 2024 548 548 Net book value at 31 Decamber 2024 13,155 {vii) Investments Gener81 Fund and Maintenance Funds (Unrestricted) At 1 January 2024 Additions Disposals Revaluations in year At 31 D8￿rnber 2024 25.424 27,760 627 28,387 2,336 27,760 The Investrnents are all held in the COIF Charities Investment Fund. 4. Debtors and prepayments Debtors Other debtorE & prepayments 1,291 3,051 4,342 897 2,506 3,403 5. Credltors . Accruals & defe￿ad inco Deposits in advance 2.231 6.491 8.722 1.180 7,263 8.443 POThEN END VILLAGE HALL CIO NOTES TC) THE STATEMETrtrs FOR TrE YE•R eNrED 31 DECEMBER 2024 6. Analysis of fvnds Opening Net inGOffE Transfers Investment Closing baLgnces gains b81ances Unrestricted funds- General Fund Unrestricted funds - Maintenance Fund Restiicted fund - Heating system Restricted fund - Replacement windows Restricted fund - Replacement windows Restricted fund - EndoMfft*nt Fund 30,102 51,937 1,495 25.060 (5,269) 2,032 (1 .333) {1,244) 2,630 24,833 54,596 162 23.816 2,630 600 627 600 109,194 3.184 627 106.637 General Fund - Thls ts an un￿StriCted fund that Provides the V￿rkIng Capital forthe CIO'S act￿lt￿S. Maintenance Fund - Thls is an unrestiicted fund established to provide for any future major costs associated with the building. Restricted Fund - This relates to donations and grants given tovRrds replacing the heating systam and wlndows. Endowment Fund - This V