31 March Brigstock Village 2023 Hall CIO
Registered Charity number 1172094
Annual Accounts
Brigstock Village Hall CIO
Report of the Trustees Year ended 31 March 2023
1. OBJECTIVES AND ACTIVITIES
The object of the CIO is:
The provision and maintenance of a village hall for the use of the inhabitants of the Parish of Brigstock and the surrounding area 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 of the said inhabitants.
We aim to provide a great facility for all residents of the village and the surrounding area to enable them to get the best use from the hall and rooms for their various meetings or events.
2. ACHIEVEMENTS AND PERFORMANCE
The war in Ukraine and the subsequent knock-on effects on the cost of energy have had an impact on our profit margins this year. Whilst trying to keep the costs down for users we have had to review our hire charges in line with other local village halls. We will carry on offering lower charges to Brigstock residents and organisations and will keep the pricing structure as clear as possible.
We have continued to provide the annex free of charge to accommodate the post office out of Thrapston on most Monday mornings 10 - 12 and offer charities the opportunity to have a stall at the same time. Our once-a-month coffee mornings have paid for themselves through donations and offered people the opportunity to use a “warm space” and have a get-together.
The hall was used for the King’s Coronation weekend by giving residents the opportunity to see the coronation on the big screen. Whilst this was not very well attended it was appreciated by those who came along.
We are continuing to think of new ways to generate funds for the village hall. This year we have raised money from two well-attended quiz nights. Other fund-raising and community events planned include a well-being day, a concert, a feast night, a board games afternoon, a murder mystery, a twenties night and a ceilidh. The parish council is now paying to use the small meeting room as a base for the new parish clerk.
Chris Allen has continued to do an excellent job editing and producing the Brigstock Newsletter although costs have increased. The Parish Council has once again agreed to cover the shortfall for this year. Most people agree that the newsletter is a valued method of disseminating important and interesting local information.
Film nights have proved to be very well attended and profitable under the new management committee. Thanks to them for their continuing efforts and willingness to provide us with an entertaining and varied programme. We are looking forward to the new season.
Once again, we have lovely hanging baskets and flowerbed thanks to Steph Beckett and Glenda Stephen. The fencing along the car park has been improved. We have been able to purchase new tables and install batteries for the solar panels with the help of a grant. We are hoping to replace the fluorescent tubes in the main hall with LEDs to reduce costs. All in all, I think we can be proud of the fact that the hall is well-equipped, energy-efficient, well-maintained, and looked after, and a great asset for the village.
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Brigstock Village Hall CIO Report of the Trustees (continued) Year ended 31 March 2023
There have been some issues over use of the car park by members of the public not using the village hall which has meant that those hiring the hall have not had room to park. We have tried to address this by making it clear that the car park is for village hall and surgery users only. Of course, this is difficult to police and relies on goodwill, but we continue to monitor the situation.
Thanks again to Richard Gayton for managing the books and providing us with a clear analysis of our running costs, to David Oldham for being our CC contact and adviser, to Chris Allen for his work as secretary and grant finder, to Rosy Briggs for managing the bookings so efficiently and for cleaning the hall, to Steph Beckett for sorting out the energy supplier and meter readings, and to all the trustees who continue to invest their time and effort for the benefit of the village. We still have the ongoing problem of finding new trustees but we are compiling a list of “willing helpers”.
3. PUBLIC BENEFIT
We aim for the Hall to be used for as wide a range of activities as possible, so that all residents can make use of the Hall. This currently includes regular bookings for activities such as dance and Pilates classes, New Age Kurling, the Historical Society and cinema nights; and one-off events such as Theatre Group shows, weddings and private parties, and the Beer Festival.
4. FINANCIAL REVIEW
Income and expenditure in the years 2022 - 2023 and 2021- 2022 is shown below. This provides both details of this year’s income and expenditure and allows comparison of this year’s figures with last year’s performance. Care should be taken in drawing conclusions with any comparison to the previous year. 2021-2022 was a year still in recovery from Covid as well as the income and expenditure having considerable sums included in respect of grants and improvement works.
The use of the hall has now returned to pre covid levels with several local groups meeting regularly in the hall.
Income and Expenditure Overall Position
| Overall Position | |||
|---|---|---|---|
| 2022-2023 | 2021-2022 | Change | |
| £ | £ | £ | |
| Income | 32,820 | 54,433 | (21,613) |
| Expenditure | 45,046 | 73,505 | 28,459 |
| Gain (Loss) | (12,226) | (19,072) | 6,846 |
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Brigstock Village Hall CIO Report of the Trustees (continued) Year ended 31 March 2023
Hall Hire and Event income
2022-23 represents what can be considered as the first full year of returning to 'normal' trading following the Covid epidemic. The revenues from Hall Hire, £14,158 represent a successful 12 months. These can be used as a guide to future revenues. We now have a core of valued regular users, many of which are local groups.
The treasurer would like to thank Rosy Briggs for her continued efforts in maintaining the hall and for providing the key link to the hirers.
The fund-raising events and the film nights both had exceptionally successful years and raised considerable sums. The Committee held two quizzes that were sell-outs and with the School PFA jointly organised a Curry Night that was also a sell-out. It must be noted that payment of 50% of the Curry Night profit will be made to the PFA in the 2023-24 financial year (£692) This will reduce the actual margin made on these events.
Steve and Lynette Todd have produced a great season of interesting films that were well attended. They plan to expand the number of nights next year. The committee’s thanks go to Steve and Lynette and their team.
The Treasurer would also like to thank all those who gave their time to make the events happen in particular Sally Wilks, Steph Beckett, Caroline Motion and Chris Allen.
Income from hall hire, events and film nights totalled £20,436 in the year.
| Total Base Hall Income | Total Base Hall Income | Total Base Hall Income |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Hire | 14,158 | 7,239 |
| Events | 4,346 | 819 |
| Cinema | 1,933 | 932 |
| Utilities - Feed In Credit | 1,100 | 2,038 |
| Total Income | 21,557 | 11,028 |
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Brigstock Village Hall CIO Report of the Trustees (continued) Year ended 31 March 2023
Hall Running Costs
| Hall Running Costs | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Admin/Cleaning | 4,427 | 4,094 |
| Utilities | 4,725 | 6,213 |
| Repairs | - | 333 |
| Events Expenses | 1,677 | 150 |
| Cinema Expenses | 909 | 659 |
| Licenses | 553 | 553 |
| Routine Maintenance | 473 | 52 |
| Equipment & furnishing | 1,304 | 4,140 |
| Miscellaneous | 689 | 769 |
| Total Expenditure | 14,758 | 16,963 |
The overall hall hire v running cost was therefore
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income | 21,557 | 11.028 |
| Expenditure | 14,758 | 16,963 |
| Surplus /(Loss) | 6,799 | (5,935) |
The performance in 2022-23 has been very good. It represents a considerable turnaround from 2021-22. The true performance in the year, however, will be lower. There are costs that will be taken in the next financial year. These include the payment to the PFA noted above, £692 and the purchase of kurling equipment with the monies received from the sale of the carpet bowls, £223. In addition there is an underpayment on the utilities resulting from the increased cost exceeding the standing order.
| Utilities | Utilities | Utilities | Utilities |
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Income | 1,10 0 |
2,03 8 |
|
| Expenditure | 4,72 5 |
6,21 3 |
|
| Net Cost | (3,625) | (4,175) |
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Brigstock Village Hall CIO Report of the Trustees (continued) Year ended 31 March 2023
The reduction in income is as a result of only three entries recorded this year. The fourth entry will be carried over into next year.
The cost of utilities has increased significantly in the year. This has in part been mitigated by the fixed price periods negotiated by Steph Beckett. These have now expired. The new rates agreed represent a very significant increase and will lead to higher costs in future.
Future costs will hopefully be mitigated in part by the investment this year in the installation of storage batteries. The cost figures have been distorted by both credits carried over into this financial year and underpayments in the year on the gas carried over into the financial year 2023-24.
Insurances
| Insurances | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Expenditure | 2,122 | 2,230 |
The premium for 2023 showed a small drop from 2022. It is believed that this is in part due to the additional flood protection measures taken following the flood of 2020.
Newsletter
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Income | 1,525 | 1,053 | |
| Expenditure | 1,230 | 1,080 | |
| Net Gain/ (loss) | 295 | -28 |
The Newsletter continued to provide four issues in the year. Advertising revenues increased in the year but continue to be hard to secure. The principal funder remains the Parish Council to whom we are grateful. Their support this year extended not only to the regular quarterly payment but also an additional payment of £300 to cover previous losses.
The final profit made was achieved due to advertising monies received in the year applicable to adverts placed in other years. The newsletter continues to provide a useful social benefit to the village community recognised by many.
Our thanks go to Chris Allen without whom the newsletter would not happen and to Terry Beckett for organising the distribution.
Grants
The Hall received 1 major grant in the year totalling £8,971. This grant funded the purchase of PV storage batteries as well as new tables. The committee offer their thanks for the tireless work of Chris Allen who sourced and secured this grant and managed the works.
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Brigstock Village Hall CIO Report of the Trustees (continued) Year ended 31 March 2023
Balance Sheet
Cash at Bank
The value of the three accounts held in respect of the Village Hall have increased in the year by £4,334 to £102,341 as at 31st March 2023. This should be regarded as a hard-won healthy position. This is in no small parts due to the efforts of Chris Allen in raising grants and donations and the team who organise the fund-raising events noted elsewhere.
The CAF fund has recovered previous losses in a difficult trading market and returned to a position where it covers the 40-year obligation.
| Account | 2023 | 2022 | Movement |
|---|---|---|---|
| £ | £ | £ | |
| Current Account - Barclays | 65,230 | 62,393 | 2,837 |
| COIF Deposit Account | 278 | 273 | 5 |
| CAF growth fund | 36,834 | 34,915 | 1,919 |
| Total current assets | 102,342 | 97,581 | 4,761 |
Current Account
The sum held in this account has increased in the period. This reflects the success with events held in the year and the film season.
COIF Account
There has been a small movement in this account which has a minimal sum held in it
CAF Fund
The fund currently stands at £36,834 an increase in the period. This is an investment fund and its performance has been good in a difficult market. The level covers the 40-year obligation. The fund has a cautious profile in investments which suits our charitable status and purpose. The performance of the fund has been discussed by the committee during the year and we will continue to monitor the performance and the alternatives available.
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Brigstock Village Hall CIO Report of the Trustees (continued) Year ended 31 March 2023
5. STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trust was formed as a Charitable Incorporated Organisation No 1172094 on 16 March 2017. The trustees meet monthly to decide strategy and monitor performance.
Trustees who served on the Board during the year were as follows.
Sally Wilks (Chair) Chris Allen Steph Beckett Terry Beckett Pete Burdett Richard Gayton Caroline Motion David Oldham
All were members throughout the year.
Signed on behalf of all Trustees by
Sally Wilks Chair
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Brigstock Village Hall CIO
Registered Charity number 1172094 Balance Sheet 31 March 2023
| Registered Charity number 1172094 Balance Sheet 31 March 2023 |
||
|---|---|---|
| Fixed assets (Note 1) Debtors Bank Total current Assets Total assets less current liabilities Reserves Endowment Fund General fund Total Reserves |
2023 £000 1,381,241 - 102,342 102,342 1,483,583 1,436,305 47,278 1,483,583 |
2022 £000 1,396,305 - 97,581 |
| 97,581 | ||
| 1,493,886 | ||
| 1,436,305 57,581 |
||
| 1,493,886 |
Approved by the Trustees on
Sally Wilks Chair
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Statement of Financial Activities Year ended 31 March 2023
| Statement of Financial Activities Year ended 31 March 2023 |
||
|---|---|---|
| Income from charitable activities Income from grants Income from donations Income from investments Total income Expenditure on charitable activities Net surplus Unrealised surplus / (deficit) on investments Surplus / (deficit) for the year Reserves at the beginning of the year Transfer to Endowment Reserves at the end of the year |
2023 £ 23,434 8,971 415 - 32,820 45,046 (12,226) 1,922 (10,304) 57,582 - 47,278 |
2022 £ 14,579 38,635 1,219 - |
| 54,433 | ||
| 73,505 | ||
| (19,072) | ||
| 2,117 | ||
| (16,955) 99,473 (24,936) |
||
| 57,582 |
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Brigstock Village Hall CIO Notes to the accounts Year ended 31 March 2023
1. Fixed assets
| Cost At 1 April 2022 Additions during year Disposals At 31 March 2023 Depreciation At 1 April 2022 Charge for the year Disposals At 31 March 2023 Net Book Value At 31 March 2023 At 31 March 2022 |
Buildings Furnishings and fittings Total £ £ £ 1,406,379 20,000 1,426,379 - - - - - - |
|---|---|
| 1,406,379 20,000 1,426,379 |
|
| £ £ £ 28,074 2,000 30,074 14,064 1,000 15,064 - - - |
|
| 42,138 3,000 45,138 |
|
| £1,378,305 £18,000 £1,396,305 |
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Brigstock Village Hall CIO Notes to the accounts Year ended 31 March 2023
2. Reserves
| Endowment Fund General Fund |
At 1.4.22 Income Expenditure Gains on Investments At 31.3.23 £ £ £ £ £ 1,436,305 - - - 1,436,305 57,582 32,820 (45,046) 1,922 47,278 |
|---|---|
| 1,493,887 32,820 (45,046) 1,922 1,483,583 |
The Endowment Fund reflects the book value of the hall and its furnishings and fittings, which cannot be applied for any other use, together with £40,000 which is invested for the benefit of the village hall.
The General Fund represents retained earnings. The Trustees are aware that, over the life of the building, there will be a need to generate funds to pay for major works to the building, such as component replacement and any works needed to reduce the generation of greenhouse gases.
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