Henderson Hub Company Limited (A company limited by guarantee) Report and Financial Statements Year Ended 31 March 2024 Charity number 1171855 Company number 8733997
Henderson Hub Company Limited Trustees, and Directors, Report Year ended 31 March 2024 The Trustees present their report and financial statements forthe year ended 31"March 2024. This has a150 been prepared to meet the requirements for a Directors. Report and Accounts for the purF)0ses of the Companies Act. The financial statements have been prepared in accordan with the accounting policies set out in Note I to the accounts and comply with the Charites Act 2001. the Companies Act 2CKJ6. the Memorandum and Articles of Association, and Accounting and Reporting by Charities-. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021. Table of Contents Legal and Administrative Infomiation . Objectives and Activities..................-......................-...-.......-...-.............-...-............... . Achievements and Performance................................................................................... ............... . Structure. governance and management...............................-.-..-.... .-........-......... . Independent Examinerfs Report.... Statement of Financial Activities Balance Sheet........... Notes to the Accounts...................-.....-...........-........-........-..-........ io
The Trustees present their report and financial statements forthe year ended 315t March 2024. 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 policies set out in Note I to the account5 and comply with the Charites Act 2001, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Ch3rities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS1021. Legal and administrative inforniation Directors and Trustees C Bradshaw (Resigned 10 October 2023} A Stanley (Resigned 10 October 20231 T Sidaway S Nakhal E Stratton (Resigned 22 May 20231 T Marshall (Appointed 10 October 2023) S Hoque {Appointed 10 October 2023) J James {Appointed 16 February 20241 S Watts (Appointed 4 March 2024} Registered Office 37 Marlowes Hemel Hempstead HPI ILD Operating address Henderson Hall High Street Abbots Langley WD5 OAR Accountants Morgan Rose 37 Marlowes Hemel Hempstead HPI ILD Independent Examiner Morgan Rose 37 Marlowes Hemel Hempstead HPI ILD Charity Registration Number 1171855 Company Registration Number 8733997
Objects, Objertlves and Activities Our Charitable objects are settled with the Charity Commission to be: l. The provision of facilities for the 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 forms of recreation and leisure time occupation. with the object of improving the conditions of life for the said inhabitants. 2. The advancement of the arts for public benefit through the provisions of facilities and other means to enable participation in a wide range of visual, literary and performing arts. Our strategic objectives to achieve this are- To provide and encourage use of facilities at the Henderson Hall, including the provision of meeting spaces, arts and performance spaces To foster a wide range of activities for Abbots Langley and the neighbourhood To ensure the sustainability of the Henderson Hub and 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 of the activitie5 of the Charity and to guidance issued by the Charity Commission. To manage this, the Trustees regularly review their activities to more effectively achieve objectives and to more readily meet obligations. Achievements and Performance While Covid 19 restrictions were lifted a few years ago, this pandemic has social consequences in various groups including elderly can exacerbate their unfavourable situation. Some group of people changed their behaviour and thus spending less time in social gather which in turn affected footfall in our programs. We maintained the Elvira's café facility through the year and felt that it was important to keep the facility running for its social v31ue as a place to meet. provided that it was not a financial drain. Elvira's opened for four days a week, manned by one paid staff member per shift along with volunteers. Budgeted income was sSightly down on the year as we had forecast for a full year- choosing to actively manage the risk. There has been the need to keep pricing and costs under review with particular impact from energy costs- which not only affect such things as gas and electricity- and which now represent something like IOYO of costs even after reducing consumption by around 30Yo, but other consumables such as coffee too. Our pricing model has had to adjust as inflation got a hold and we have sought to simplifying pricing and ask tougher questions on operational aspects.
The end of the calendar year also saw a change in our Hub Manager with a new appointment providing new energy for the new financial year. The Hub managerfs hours were reduced and a second marketing manager role was created to support the Hub manager and focus on marketing. The Village Hall and Community Arts The Henderson Hub preserves and promotes the established function 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 object of our charity. The nature of the building makes it the only suitable space for performing arts in the eastern region of the Three Rivers district 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 activities including: Exhibitions, Textiles Se55ions; Children's Art Classes; Pottery Classes; Sourdough Classes; Art Taster Classes; Yoga Classes; Watford Magicians, Meetings and Awards Shows; Live & Local Music Nights; Comedy Nights. Community Cinema. Coffee Mornings including- bereavement support and for local MP surgery,. Private Film Night for the Monday Club- a social club for adults with learning difficulties; Recording sessions for a local singer's album; Abbots Langley Gilbert & Sullivan Society Abbots Langley Gilbert & Sullivan Society, Cassio Productions, Abbots Langley Players and Centralians PSayers rehearsals and play weeks- Dance classes; Party Hires,. Fizz Kids Family Magic Shows; Michael Jackson 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 without 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 resource. 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 2024. income was £92,280 (2022123, £108,064) and expenditure £88,149 (2022123, £119,550), meaning a small surplus of £4,131 was generated 12022/23. - £11,486). Although we forecast late last year, estimating a EIOK plus deficit, we have managed to turn a corner. This was po55ibly largely due to cost savings by negotiating utility services and
generating increased revenue from hall hire and events, which in turn contributed to more takings at Elvira's. We send our gratitude to all Hub stakeholders including our members and volunteers who are working tirelessly to achieve this. Please note that this result includes a grant from ALPC. Despite this yearfs result, we are predicting a challenging couple of years due to a change in approach from ALPC. Our next application will only support project funding and will be the last application we can make in the next 2-year period. Funding therefore needs to be reviewed as a matter of urgency. The development of a funding strategy is underway and our new management team have made some developments and suggestions in this area. A new model for hire costs has been presented to the board for consideration alongside suggested adjustments for the future to optimise income and support the cultural sector Reserves The Trustee5 have agreed that the Charity should seek to retain between three and six months of the coming yearfs expenditure budget in unrestricted reserves. As at 31 March 2023, unrestricted reserves were £42,828, representing equivalent to around six months of planned expenditure for the 2024125 financial year (expenditure budget for 2024/25 set at £77,112). The Trustees are satisfied that the reserves are adequate at thi5 time. Structure. governance and management Governing document Henderson Hub is a company limited by guarantee, governed by its Articles of Association. It is registered as a charity with the Charity Commission. Membership is 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 Director5. Each Member has agreed to contribute EIO (ten pound only} in the event of the Charity winding up. Appointment of Trustees As set out in the Articles of Association Trustees and Directors are elected at the Annual General Meeting with one third retiring each year and a need for four or more. Trustee induction and training Trustees have developed (with mixed success it must be said) procedures for the recruitment, induction and training of new Trustees. Prospective Trustees are introduced to Henderson Hub by means of discussion and acting as an Observer alongside existing Trustees before appointment; this assists with understanding the objects of the charity and the role of Trustees.
Organisation The Hub managerfs hour5 were reduced and a second marketing manager role wa5 created to support the Hub manager and focus on promoting the Hub and it's events. The combined skillset of both managers offers the Hub a wider range of skills to benefits the Hub, with minimal increase in cost. Also the two managers cover for each other when needed eg during annual lease. The role of the Marketing manager is supported by ALPC for Six months. At the end of the end of the financial year, it is still under this support. The Board of Trustees meets quarterly. or more frequently as the need arises. Board meetings consider reports from the Manager and reviews more strategic issues including compliance, governance and future strategy. Following the resignation of the chair and secretary at the last AGM new directors were appointed broadening the skillset of the Board which now includes Technology, Law, Accountancy. Engineering along with amateur dramatics. Related porties 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. Risk management The Trustees have in place 3 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-term contract, such as the leasehold tenure of Henderson Hall. The Trustees also ensure that full insurance is in place and review the requirements annually and as required should circumstances change. Trustees, responsibilities in relation to the financial statements: The Trustees (who are Directors of Henderson Hub Company Limited for the purposes of company lawl are responsible for preparing a Trustees annual report and financial statement in accordance with applicable law and United Kingdom 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: Select suitable accounting policies and then apply them consistently Observe the methods and principles in the applicable Charities SORP Make judgements and estimates that are reasonable 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 statements on the going concern basis unless it is inappropriate to presume that the charity will 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 Art 2006, and applicable Charities (accounts and reports) Regulations. 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 corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements mav differ from legislation in other jurisdictions. The directors, have taken advantage of Section 477 of the companies Act 2006 which exempts the company from an audit. The charity is required to have an Independent Examination in accordance with the provisions of the Charities Act 2011. By r of the board of trustees and signed on their behalf by S Nakhal Chair of Trustees 3nd Director 0711112024
I report on the accounts of the Henderson Hub Company Limited for the year ended 31 March 2024, comprising Statements of Financial Activities of the charity, Balance Sheet and supporting Notes. Respective responsibilities of trustees and examiner As the charit5 trustees of the Company (who 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 Act 2006 ("the 2006 ACV'I. Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charitrfs accounts as carried out under section 145 of the Charities Act 2011 {-the 2011 Act"). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145{5){b) of the 2011 Act. Independent Examiner's statement I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that: accounting records were not kept in accordance with section 386 of the Companies Act 2006; or the accounts do not accord with such records; or the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than 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 accordance with the Charities SORP (FR5102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding o the account5 to be reached. Stev ump ys ACA hartered Accountants 1202
Henderson Hub Company Limited Statement of Financial Activities (including income and expenditure account) for the year ended 31 March 2024 2024 2023 Unrestricted Restricted funds funds Notes Total funds Total Income Donations 2,089 2,089 3,230 Grants 20,000 600 20,600 20,600 Charitable activities 69,591 91,680 69.S91 84,234 Total income 600 92,280 108,064 Expenditure Charitable activities 85.575 2,574 2,574 88.149 119.550 Total expenditure 85,575 88,149 119,550 Net Income/(Expenditure) and net movement in funds for the year 6,105 (1,9741 4,131 (11,486) Reconciliation of Funds Total funds brought forward Total funds carried forward 36,723 33,600 70.323 81,809 42,828 31,626 74.454 70,323
Henderson Hub Company Limited Balance Sheet As at 31 March 2024 2024 2023 Unrestricted funds Restricted fund5 Notes Total Funds Total Fixed Assets Tangible assets Total Fixed Assets io 31,626 31,629 33.636 31.626 31.629 33.636 Current Assets Bar Stock 200 200 200 Debtors li 3,629 3.629 7,325 Cash at bank and in hand 51.914 51,914 46.069 Total Current Assets 55,743 55.743 53,594 Liabilltles Cfeditors falling due within one year Net Current Assets 12 {12,918) 42,825 112,9181 42,825 {16,9071 36.687 Net Asset5 42.828 31.626 74,454 70.323 The funds of the charity 14 Unrestricted income funds 42.828 42,828 36,723 Restricted income funds 31,626 31,626 33,600 42,828 31,626 74,454 70,323 For the year ending 31 March 2024 the company was entitled to exemption from audit under 5477 of the Companies Act 2006 relating to small companies. The member5 have not required the company to obtain an audit of its accounts for the year in question in accordance with s476. The directois acknowledge their responsibilitie5 for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. Approved by the board of trustees on 7th November 2024 and signed on their behalf by Eowid Ndkknl
Henderson Hub Company Limited Notes to the accounts for the year ended 31 March 2024 {continuedl Unrestrirted funds 2024 Restricted fvnds 2024 Total Funds 2024 Total 2023 5 Income from donations Donation 2,089 2,089 2,089 2.089 3,230 3.230 Unrestrirted funds 2024 Restricted funds 2024 Total Funds 2024 Totsl 2023 6 Income from grants Abbots Langley Parish Council Three Rivers District Council Government- Furlough scheme 20,000 20.000 600 2,000 20,000 600 20,600 2,600 Unrestrirted funds 2024 Restricted funds 2024 Total Fund5 2024 Total 2023 7 Income from charvtable artivities Income from hall hire Income from Upstairs room hire Foyer café Bar takings Event income lincluding ticket sales) Income from equipment hire Company Membership Fees Associate Members Fees Advertising sales Bank Interest Received Other income 14,983 3,030 31,912 9,509 9.726 40 380 14.983 3.030 31,912 9,509 9,726 40 380 20,219 36,690 9,065 17,316 240 li li 69,591 69,591 84,234 io
Henderson Hub Company Limited Notes to the accounts for the year ended 31 March 2024 Icontinuedl VTrrÈstrlcted funds Restrirted funds Total funds Total 2024 2024 2024 2023 8 Expenditure on charitable artivities Bar stock Licencing Café consumables Event production Film hire costs Materials for events Hire of hall Salaries and related costs Depreciation Advertisin£ Bank charges Business rate5 4.096 1.818 10,686 4.068 1.781 4,096 1,818 10,686 4,068 1.781 5,343 1,398 14,640 7,415 3,365 18 305 51.647 2.114 265 29,870 33 265 29.870 2.007 1,974 177 177 7,436 2,786 1,116 226 471 8.559 2,630 1,556 26 1,139 782 7,530 1,000 560 8.673 7.436 2,786 1.116 226 752 915 6.458 Insurance Telephone and internet Stationery Marketing Removal of trade waste Maintenance Rent payable on hall Purchase of equpment Professional fees Bad Debt Other 752 915 7.058 600 1.894 9,965 1,146 78 1,894 9,965 1.146 78 380 85.575 2,574 88.149 119,550 9 Net income for the year This is stated after charging- 2024 2023 Operating leases Depreciation Accountancy fees 2.007 8.364 2.114 4,087 li
Henderson Hub Company Limited Notes to the accounts for ihe year ended 31 March 2024 (continued) 10 Tangible fixed a55et5 Unrestricted Funds Re5trirted Funds Leasèhold ifflprove- rnents Plant and Equipment Total Cost at l April 2023 Additions at 31 March 2024 9,347 45.393 54,740 9.347 45.393 54.740 Depreciatlon at l April 2023 Charge for the year at 31 March 2024 9.311 33 9,344 11,793 1.974 13,767 21.104 2.007 23,111 Net Book Value at 31 March 2024 31,626 31,629 at 31 March 2023 36 33,600 33,636 Unrestrirted funds Restrlcted fund5 Total funds Total 11 Oebtors 2024 2024 2024 2023 Trade Debtors Other debtors Owing to Restrirted Fund 1,775 1,853 1.775 1,853 6.707 618 3,628 i.628 ,i25 12 Creditoys falling due within a year 2024 2024 2024 2023 Ti3de creditors Other creditors Hall booking deposits Accrua15 Taxation and pension cost due Wage5 due Deferred hall hire income i.oii 2.263 i.oii 2,263 2,757 1.428 1.320 199 1,320 199 2,480 688 8.125 12,918 8,125 12,918 9,554 16,907 12
Henderson Hub Company Limited Notes to the accounts for the year ended 31 March 2024 (continued) 13 Deferred hall hire income Deferred hall hire income comprises advance booking for the hall. Balance at l April 2023 Amount released to income Amount credited in year Balance at 31 March 2024 9,554 114,9831 13.554 8,12S 14 Analysi5 of charltable funds Unrestricted fund5 Balance Balance I ApTiI 2023 Expendi- ture 31 March Income 2024 Unrestrirted funds 36.723 91.680 {85,5751 42,828 Restricted funds BalaTrte l April 2023 Balance Eypendi- ture 31 March 2024 Income Capital works Total restricted funds 33,6(Ki 33.600 12.5741 12,5741 31.626 31,626 600 13
Henderson Hub Company Limited Notes to the accounts for the year ended 31 March 2024 (continued) 15 Operating leases The charity had minimum lease payment5 payable under operating leases as set out below. Not later than a year Laterthan a year and not later than 5 years Later than 5 years 1,000 13,000 18,000 14