Henderson Hub Company Limited (A company limited by guarantee) Report and Financial Statements Year Ended 31 March 2023 Charity number 1171855 Company number 8733997 111 111 ACGtX)UB4* 1511112023 COUPANIES HOUSE -AiPLV6N7¥
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A13 0411112023 COMPANIES HOUSE
Henderson Hub Conwny Limlted Trustees. and Dirertw< Re Year ended 31 March 2023 The Trustees present their report and financial Statements for the year ended 31° March 2023. This has also been prepared to meet the requirements for a Directors, Report and Accounts for the purposes of the Companies Act. The financial statements have been prepared in accordance with the accounting FK)licies set out in Note I to the atcount5 and comply with the Charites Act 2(Xll. the Companies Act 2006. the Memorandum and Article5 of Association, and Accounting and ReFJOrting by Charities- Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021. Table ofcontents Legal and Administrative Infonnation ..-...............-..............................-....-........-.....-.......-.......-........-........-..... Objectives and Activities................................................-...............................................................-....-...-.-......- Achievement5 and Performance...............................-...................................................................................... Structure. governance and management........ Independent Examinerfs Report........................................................................................................................ Statement of Financial Activities ........................................................................-.....-.-...-.....-...-...-.....-...-....-..... Balance Sheet......-.....-.....-.-......-..-...-..........-....-.................................................................................................... Notes to the Accounts.....................................................................................................-..........-........................ 10
Henderson Hub Company Limited Trustees, and Oirectors, Report Yearended 31 March 2023 The Trustees present their report and financial statements for the year ended 31st March 2023. This has also been prepared to meet the requirements fora Directors. Report and Accounts for the purposes of the Companies Act. The financial statements have been prepared in accordance with the accounting policies Set out in Note I to the accounts and comply with the Charites Act 2WI, the Companies Art 2006, the Memorandum and Articles of AsY)ciation. and Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicale in the UK and Republic of Ireland IFRS1021. Legal and administrative infonnation Dirertors and Trustee5 C 8Tadshaw A Stanley L Waters (retired 12 October 2022) Tsidaway S Nakhal E Stratton Secretary C Bradshaw Re8lStered Office 37 Marlowes Hemel Hempstead HPI ILD Operatin8 address Henderson Hall High Street Abbots Langley WD5 OAR Accountants Morgan Rose 37 Marlowes Hemel Hempstead HPI ILO Independent Examiner Morgan Rose 37 Marlowes Hemel Hempstead HPI ILD Charity Registration Number 1171855 Company Registration Number 8733997
Henderson Hub Company Limited Tru5tees' and Directors, Report Year ended 31 March 2023 Objects, Objertives and Artivities Our Charitable objerts are settled with the Charity Q>rnmi55ion to be: 11 The provision of facilities forthe use of the inhabitants of Abbots Langley and the neighbourhood thereof, without distinction of political, religious or other opinions, including use for meetings, lectures and classes and for other fomis of recreation and leisure time occupation. with the object of improving the conditions of life for the said inhabitants. 21 The a¢fvancement of the arts for public benefit through the provisions of facilrties and other means to enable partiCipatn in a wde range of visual. literary and perfomiing arts. Our strategic objectives to achieve thi5 are: To provide and encourage use of facilities at the Henderson Hall. including the provision of meeting spaces, arts and performance space5 To foster a wide range of activities for Abbots Langley and the neighbourhood To ensure the sustainability of the Henderson Hub arxl its value to the community. The Trustees have complied with the duty specified in Section 4 of the Charities Act 2011 relating to the public benefit requirement Df the activities of the Charity and to guidance issued by the Charity Commission. To manage this, the Trustees regularly review their actNities to more effectively achieve objectives and to more readily meet obligations. Achievements and Performance While operation5 in the previous financial year had run along with almost 10 months free of Covid- 19 restrictions the level of confidence shown by users, stsff and volunteers in adjusting to the pandernic hangover was fragile. with extemal shocks to the system havi a quickly felt effect. We maintained the Elvira's café facility through the previou5 year and felt that it was important to keep the facility running for its social value as a place to meet. provided that it was not a financial drain. Operations became an increasing challenge during the year as volunteer sUPPOrt waned- much in line with national tndS It must be said- making being open increasingly reliant upon paid staff. The Autumn of 2022 saw a dramatic downward shift in tumover. co-incident with changes In national government leadership policy. This'shock. along with a poor response to advertising for 3 new Elvira's manager resulted in tonsolidation of Elvira's actNities to three days per week and a period of review as to its ongoing operation. The outcome is that 3 trusted gfOUP of volunteers will now manage and lead Eir?.$ as the new financial year gets underway. While Covid-19 restrictions fell away Covid was still wfth us resulting in cancellation of a number of summer activtties which was achieved at no cost to The Hub. Additionally. the Film Hub team retired from the scene providing the opportunity for a new model and new team founding a Community Cinema. Budgeted income was down on the year a5 we had forecast for a full year- ch0051ng to actively manage the risk. There has been the need to keep pricing and costs under review wlth particular impact from enew costs- which not only affect such thin85 as gas and electricity- and which now represent 50mething like IO% of costs even after reducing consumption by around 30%. but other
Henderson Hub Company Limited Trustees, and Directors, Report Year ended 31 March 2023 consumables such as coffee too. Our pricing model has had to adjust as inflation got a hold and have sought to simplifying pricing and ask tougher questions on operatK)nal aspects. The end of the year also saw a change in our Hub Manager with a new appointment providing new energy for the new financial year. The Village Ilomond CommunftyArts The Hender50n Hub preserves and promotes the established funrtion of the Henderson Memorial Hall as the Village Hall of Abbots Langley. a hall for the use by the inhabitants of the village for meetings, classes and other leisure activities. as enshrined in the first objert of our charity. The nature of the building makes it the only suitable space for perfom)ing arts in the eastern region of the Three Rivers distrirt and its use by performance-based community groups, sits alongside community uses. such as regular clubs and meetings. The hall accommodates UP to 140 people plus ancillary accommodation. We are proud to host a range of artivities induding.. Exhibitions,. Textiles Sessions,. Children's Art Classes; Pottery Classes- Sourdough Classes,. Art Taster Classes- Yoga C1055e5- Watford Magiaans. Meetines and Awards Shows- Live & Local Music Nights- Comedy Nights,. Community Cinema.. Coffee Mornings induding- bereavement support and for local MP surgery. Private Film Night for the Monday Club- a social club for adults with leaminE difficultie5- Recording sessions for a local singerfs album,. Abbots Langley Players and Centralians rehearsals and play weeks,. Dance classes- Party Hires,. Fizz Kids Family Magic Shows; Michael Jatkson Tribute Show,. Captain Calamity Storytelling session for kids. Resources We have a mix of volunteers and paid staff all of whom make a great and welcome contribution with their enthusiasm and energy. We could not do this wthout all those who provide this support and we want to take this opportunity to say'thank you. to everyone who has played their part this year. One of the Covid pandemic legacies was last year identified as being a shift in our volunteering sour. This has continued to be difficult. The advent of younger people recorded last year has not lasted as their world has opened up again. The volunteer group who now manage Elvira's is a very positive initiative and how that works will play out during this next period. Financial review The financial year ending 31 March 2023. income wa5 £108.06412021122. £99.8761 and expenditLtrre £119,55012021122. £1(Xl.0151. meaning a small deficit of £11.486 was generated12021122.- £1401. The Henderson Hub would not be able to funrtion without the financial and good will of both Abbots Langley parish Council and Three Rivers District Council. This. along with the 5UPPOrt of our landlord, The Henderson Memorial Hall Trustees provide a positive environment to be working with. Greater detail is to be found in the statement of Financial Affairs. but it may be helpful to note here that the half year financial review forecast a significant deficit for the full year that could have placed the future of the organisation at risk. The Board initiated firm action to minimise the loss resulting in forecast deficit in the region of £15.O)O for the year.
Henderson Hub Company Limited Trustees, and Dirertors, Report Year ended 31 March 2023 The area where costs could be trimmed was Elvira's and after further examination it was resofved to continue with Elvira's on successful trading days only whilst seeking alternative solutions. It is pleasing to see the outcome is a small deficit than forecast at the half-year. A great deal of gratitude 15 due to those who contribLrted to working this throu8h. ReseThes The Tru5tee5 have agreed that the Charity should seek to retain between three and six month5 of the coming yearfs expenditure budget in unrestricted reser¥es. As at 31 March 2023, unrestricted reserves were £36,723, representing equivalent to around six months of planned expenditure for the 2023124 financial year (expenditure budget for 2023124 set at £70.142}. The Trustees are satisfied that the reserve5 are adequate at thi5 time. Strurture, governance and management Goveminq document Henderson Hub is a company limited by guarantee, govemed by its Articles of Association. It is registered as a charity with the Charity Commission. Membership 15 open to persons who support the aims and objectives of the Charity and who are willing to pay the annual subscription, subject to approval by the Directors. Eath Member has agreed to contribute £10 (ten pound only) in the event of the Charity winding up. Appointment OA Trustees As set ovt in the Articles of Kssoaation Trustee5 and Directors are elected at the Annual General MeetinB with one third retiring each year and a need for four or more. Trustee inductson and trolning Trustees have developed Iwth mixed success it must be said) procedures for the recruitment. induction and trainine of new Trustees. Prospective Trustees are introduced to Henderson Hub by means of distussion and acting as an Observer alongside existing Trustees before appointment: this a5Si5ts with understanding the objects of the charity and the role of Trustee5. Oryanisation During the previous year the role of the Ipaidl manager was increased to 0.8FTE and evolved to be one of greater autonomy as the supporting wider group of volunteers became weaker, as identified in the support of volunteers. Following The Hub manager< wish to develop their life in another direction it was resofved to a appoint a fresh manager on less hours, but with provision for additional support as the skills of the new manager became apparent. As at year end the new Managerfs probationary period is still running. The role of Manager is a part of the current grant arrangement with ALPC. The Board ofTrustees meets quarterfy, or more frequently as the need arise5. Board meetings consitler reports from the Manager and reviews more strategic issues including compliance. governance and future strategy. The skills of the Board include IT. govemance. property, financial and business management along with amateur dramatics.
Henderson Hub Company Limited Trustees. and Direttors, Report Year ended 31 March 2023 Relt7tedpartie5 The Charity has a close relationship with Abbots Langley Parish Council. who act as the Foundation Trustees of the Henderson Hall. and with the Henderson Memorial Hall Trustees who are a registered charity and act as the Management Trustees. These parties act as the landlord for the Henderson Hub Company lease over the Henderson Hall. R15k manwment The Trustees have in place a number of policies and procedures to manage risk. These are kept under periodic review with operational matters. health and safety and financial risk a subject matter at each quarterly meeting. Directors are involved in banking activity, staff engagement and any longer-temi contract, such as the leasehold tenu of Henderson Hall. The Trustee5 also ensure that full insurance is in aCe and review the requirements annually and as required should circumstances change. Truste responsibilities in relation to the financlal statements: The Trustees Iwho are Dirertors of Henderson Hub Company Limite(I for the purposes of company lawl are responsible for preparing a Trustees annual report and finanoal ststement in accordance with applicable13w and United Kingdorn Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year that give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources for that period. In preparing the financial statements, the trustees are required to.. Selert suitable accounting policies and then apply them consistentlv Observe the methods and principles in the applicable Charities SORP Make judgements and estimates that are reanable and prudent State whether applicable accounting standards have been followed. subject to any material departures being disclosed and explained in the financial statements Prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the charity VMII continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 26, and applicable Charities laccounts and reports) Regulaiions. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corForate and financial information included on the charitable companws website. Legislation in the Untted Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other iuri5dictions. The directors. have taken advantage of Section 477 of the companies Act 2006 whith exempts the company from an audit.
Henderson Hub Company Limited Trustees, and Directors. Report Year ended 31 March 2023 The charity is required to have an Independent Examination in accordante wtth the provisions olthe Charities Act 2011. By order of the boa of trustees and signed on their behalf by A J Stanley Chair of Trus 26109120 161.,12023 s and Direct
Henderson Hub Company Limited Trustees, and Oirectors. Report . Year ended 31 March 2023 I report on the accounts of the Henderson Hub Company timited forthe year ended 31 March 2023, comprising Statements of Financial Acti¥itie5 of the charity. Balance Sheet and supporting Notes. Respective responsibilities of trustees and examiner As the charivs trustees of the Company Iwho are also the directors of the company for the purposes of company lawl. you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Att 2C()61~the 21KJ6 Arf). Having satisfied myself that the accounts of the Company are rt required to be audited for this year under Part 16 of the 26 Act and are eligible for independent examination, I report in respect of my examination of your chariws accounts as carried out under section 145 of the Charities Art 20111.the 2011 Acfl. In carrying out my examination. I have followed the Directions gNen by the Charity Commission lunder section 14515llbl of the 2011 Act. Independent Examiner's Statement I have completed my examination. I confirm that no material rnatters have come to my attention which Bives me cause to believe that.. accounting records were not kept in accordance wtth section 386 of the Companies Act 2006: or the account5 do not accord with such records. or the accounts do not comply with relevant accounting requirements under section 396 of the Companies Att 2()J6 other thèn any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination- or the accounts have not been prepared in accordan with the Charities SORP IFRS1021. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in thi5 report in order to enable a proper understanding of the accounts to rea Stev Hump gan ACA rtere ountants 3110812023
Henderson Hub Company Limited Statement of Financial Artivities (including income and expenditure account) for the year ended 31 March 2023 2023 2022 Unrestricted Restrirted funds funds Notes Total funds Total Income Donations 3.230 3.230 20,600 84.234 108.064 316 Grants 20.000 48,450 51,109 99,875 Charitable activities 84.234 107,464 Total income 600 Expenditure Charitable artivities 116.977 116,977 2.574 2.574 119,550 119,550 100,015 100,015 Total expenditure Net Incomel(Expenditure) and net movement in funds for the year (9,513) {1,974} 111,4861 11401 Reconciliation of Funds Total funds brought forward Total funds carried forward 46.236 36.723 35.573 33.599 81.809 70,323 81.949 81,809
Hender50n Hub Company limited Balance Sheet As at 31 March 2023 2023 2022 Unrestricted Restrirted funds funds Notes Total Funds Total Fixed Assets Tangible assets Totsl Fixed A$5ets io 36 33.600 33,636 33,636 35,751 35,751 36 33.600 Current Assets Bar stock 200 2CKJ 200 Debtors li 7.325 46.C69 7,325 46,069 53.594 75 Cash at bank and in hand 58,052 Total Current A55ets 53.594 58.327 ilabllltles Creditors falling due within one year Net Cuffent Assets 12 {16,907} 36.687 116,9071 36.687 112,2691 46.058 Net Assets 36.723 33,600 70.323 81.809 The funds of the drity Unrestricted income fvnds 14 36.723 36.723 46,236 35,573 Restricted income funds 33,599 33,599 36.723 33,599 70,323 81,809 For the year ending 31 March 2023 the company was entitled to exemption from audit under 77 ofthe Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with s476. The direttors ackn¢)wledge their responsibilities for complying wtth the requirements of the Att with respect to accounting records and the preparation of accounts. The account5 have been prepared in accordance with the provisions applicable to companies subject to the small companies. regime. Approved by the bgard of trustees on 26th September 2023 and signed on their behalf.b S6101lL3 / hfvl
Henderson Hub Company Lined Notes to the attounts for the year ended 31 Mavth 2023 {tiJntinutdl fvnds funds 2023 Total Funds 2023 Totsl 2022 S Income from donatlon5 Donation 3.230 3.230 3.230 3.230 316 316 funds 2023 fvnds 2023 Total Funds 2023 Total 2022 6 Income from irants Abbots Langley Parish Council Three Rivers District Counol Government- Furlough scheme 20.) 20.IKXJ 30,000 13,778 4,672 48,450 20.t)XI 20.600 funds 2023 fvnds 2023 Total Funds 2023 Total 2022 7 Intome from charltable activltles In¢ome from hall hire Foyer Café Bartakings Event income lincluding ticket sales) Income from equipment hire Company Membership Fees Associate Members Fees Ad¥ertisin8 saS Other irKome 20.219 36.6 9.065 17.316 20,219 36,690 9,065 17.316 5,531 33,480 3,887 6,763 240 240 350 1251 30 1,093 51,109 704 84,234 704 84,234 io
Henderson Hub Compary Limited otes to the accounts for the year Ènded 31 Marth 2023 {¢ontinued) fvnds fund5 Total funds Total 2023 2023 2022 8 Expenditure on fharitable activities Bar stock Licencing Café consumables Event production Film hire costs Materials for events Hire of hall Salaries and felated costs Oepreciation Advertising Bank charges Businèss rates 5.343 1.398 14.640 7.415 3.365 18 305 51.647 140 5.343 1.398 14,640 7.415 3.365 18 305 51.647 2,114 2,071 1,827 13,665 1.624 631 12201 44,339 2,560 1,974 189 240 3,863 2,302 1.441 326 1,028 760 14.726 471 8,559 2.630 1.556 26 1.139 782 6.930 471 8,559 2.630 I.SS6 26 1,139 782 7.530 Insurance Telephone and internet Stationery Marketing Removal of trade waste Maintenance Rent payable on hall Purchase of equpment Professional feès Other $60 8.673 560 8,673 7,156 116.977 2.574 119,550 100,016 9 Net incomeforthe ye¥ This is stated after charging-. 2023 2022 Operating leases Deplecialn Accountsncy fees 2,114 4,087 2,560 6,629 li
Henderson Hub Company ilmlted Notes to the accounts for the reded 31 Marth 2023 {c)ntinued) 10 Tawaible flxed assets Lknrestrirted Restrlcted Funds Funds Lthoehold impTIM Plant and Equipment Total at l April 2022 Additions at 31 March 2023 9,347 45,393 54.740 9.347 45.393 54,740 Depreciation at l April 2022 Charge for the year at 31 March 2023 9,171 140 9.311 9,819 1,974 11.793 18.990 2.114 21,104 Net Book Value ai 31 Marth 2023 33.61KI 33,636 at 31 Marth 2022 176 35.574 35.750 .Ilnrestrf¢ted funds Rutyi¢ted fvnds Total ld$ Total . 11 Debtors 2023 2023 2023 2022 Trade Oebtors Otherdebtors Ow1 to Restricted Fund 6.707 618 5.707 618 2.823 12,7481 1.325 i.J25 75 12 Credhors falllng due wkhln a ¥¢ar 2023 2023 2023 2022 Trade creditors Othercredittirs Hall i>ookin8 deposSts Actruals Taxation and penson c05t due W38es due Deferred hall hi income 2,757 1.428 2.757 1.428 1.647 2,350 830 9.554 16.9)7 9.554 I6,7 7.442 12.269 12
Henderson Hub Company Llmlted Notes to the accounts for the year ended 31 Marth 2023 Icontinued) 13 Deferred hall hire income Deferred hall hife income comprises advance booking for the hall. 8alante at l April 2022 Amount released to income Amount cd1[ed in year Balance at 31 March 2023 7,442 120.2191 22.331 9.554 14 Anatysls of dHritable funds Unresirirted lunds Balan l April Balance 31 Marth 2023 Expendi. re Unrestricted funds 46,236 107.464 1116,9ni 36,723 Restrlcted funds Balance l Aprfl 8•lan¢e Expen 31 March tyre 2OZ3 Income Capital works Total restricted funds 35.573 3S.573 12,5741 12.5741 33,599 33.599
Henderson Hub Company Limited Notes to the accounts for the year ended 31 March 2023 (continued) 15 Operating leases The charity had minimum lease payments payable under operatin8 lease5 as set out below. Not later than a year Later than a year and not later than 5 years Later than S years i.ooo 4,000 14,000 19.000 14