CHARITY REGISTRATION NUMBER: 1172312 Lakeview Village Hall Trust Unaudited Financial Statements 30 April 2024 LW HARTERED ACCOU Chartered accountants 10 Pintail Drive Iwade Kent ME9 8QW
Lakeview Village Hall Trust Financlal Statements Year ended 30 April 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements
Lakeview Village Hall Trust Trustees. Annual Report Year ended 30 April 2024 The Iruslees pr8S8nt their report and the unaudited financial statements of the charity for the year ended 30 April 2024. Chalr's report The seventh year of operation continued with stable success., the infrastructure of the hall required some rèm8diallsnagging work from the project. The hall remained as a temporary lease arrangernenl wilh Swale Borough Council ISBC), thè full lease will not be signed until all snagging for the build is resolved with S8C. SBC approached the trust to endeavour lo reach an agreement with the trust regarding the signing of a full lease. The trust mel with the council regarding outstanding building snags that have not been satisfied. SBC engaged some contractors towards the end of the year to establish what is required to resolve the outstanding issues. to da16 SBC have not yet compleled any of the snags, as a r6suII the trust has not signed a full lease. The trust is however fully committed lo maintaining the building. Thè trust Conllnues to meet regularly as required throughout Ihe year, operational decisions are made during trust meetings with minor decislons made via social messaging. We have experienced a loss of a few of our long standing club hirers this year. clubs are str¢Jggling to continue in the current flnanclal Cllmate. Clubs ar8 losing their clients to a level where they are unable to sustain their own operation. The Irusl has maintained a good relationship with the regular hifers, the hirers are a principle part of the hall and have ensur8d that the hall is looked after, Ihey report regularly to thé Irust of any difficulties or issues that they find. The trust has been able to set up external controls for the alarm system so that the trust members can monltor the alarm system, the CCTV is being monitored from a web based app on the trust's members. phones. In addllion lo this the trust has invested in a digital key locking system that will allow keys lo be accessible within ¢ertain times for party hirers. This has proven lo be very successful; hirers are given clear instructions lo allow them to use the hall wlth more independence.
Lakeview Village Hall Trust Trustees, Annual Report (eonllnu•d) Year ended 30 Aprll 2024 Reference and admlnlslratlve detalls Reglstered charlty name Lakevlew Village Hall Trust Charlty registratlon number 1172312 Prlnclpal offlce Great Easlhall Way Sittingbourne Ként ME10 3TF The trustees P Burleigh S Capper A McGowan C McGowan G Harvey M Bencych S Goalham Independent examlngr Louise Wade LW, Charted Accountant 10 Pintail Drive Iwade Kent ME9 8QW Structure, governance and managemont The Lakeview Village Hall Trust was formed to operate as a charitable tru51 registered with the UK Charities commission. Th8 trust Is currently forméd of 7 Iruste8S', the trustees are residents of the local community of Great Ea51hall. The trust is structured as a Charltable Incorporated Organisation (Foundation Structure). Objectlvos and actlvltles To further benefit the resldents of the Great Easthall Estat8 and the local community, without distlnction of sex, sexual orientation. race or of political, religious or other opinions by associating together the said residents and the local aulhorilies, voluntary and other organisations in a common effort to advance education and to provide facilities in the interest of social welfare for recreation and leisure lime occupation with the objective of improving the conditions of life for the residents. This is achieved by offering hire space to the communlty, clubs and organlsatlons for the use of the hall. The hire space is offered under a hire agreement which sets out the responsibilities and r8quirernenls of the hirer to respect the propety whilst it Is in their care. The hire agreement also sets out rules and instructions that protect the property and the trust while the hall is being used.
Lakeview Village Hall Trust Trustees. Annual Report (conllnuod) Year ended 30 April 2024 Achlevements and performance The trust continu6d lo operate with the initial business plan structure, as the second year progressed it was clear that some policies required rèviewing, especially the hire policy. The trust was learning from Ihe hirers and the party hirers and il was clear that the trust needed to protect the hall and the trust from 50me undésirable hirers. The policy was therefore slrenglhened lo cover events or Issues that the trust had encountered in the first year. The trust regularly meats for agenda meetings; these meeting review our experiences and also the financial climate of the trust. We still have a large fund left from the SBC launch grant that the trust will use as required for larger projects or schemes that are decided al the agenda mèetings. The Trust has managed its income and expenditure in line with a business plan, the plan forecasted income and outlay with projections of Income and expenditures based on similar community Centres from the borough. The trust however benefited from the environmental d8sign of the hall, the architect ensLJred that the hall was designed and built lo treat lightly on the environment. The d8sign included the latest technology lo operale with very litlle resources. Flnanclal revlew A start up fund was made available to the trust from the section 106 money plus a grant Irom KCC to enable the village hall lo be operational to the community for the firsl Ihree years of operalion. The trust lakes an income from Ihe hire of the hall to pay for the bills and maintenance runnlng costs of the building, the popularity of the hall has been such that the incoffle is currently covering the costs of the utility bills and allowing the trust to bulld a small contlngency fund to ¢OV8r costs in the event that the hire space loses Ils popularity. Th8 trust does not employ any staff however it does pay for conlra¢t seNic8s such as window cleaning, gardening and cleaning of the hall. Plan$ for future perlods The trust is now looking el ensuring the infrastructure Is maintained now that the w8rr3nties have expired, the trust are using local trades lo maintain Ihe equlpment and infrastructure. The trust has recruited trustees with dedlcated roles, the roles identified are Events and Maintenance, in Ihls way we have started to offer community events and have trustees who can concentrate on specific roles. The trustees, annual report was approved on Ir lees by.. and slgned on behalf of the board of A McGowan Trustee
Lakeview Village Hall Trust Independent Examlner's Report to the Trustees of Lakevlew Village Hall Trust Year ended 30 April 2024 I report to the trustees on rny examination of the financial slal8ments of Lakeview Village Hall Trust {'the chariWI for the year ended 30 April 2024. Responslbllllles and basls of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 I'the Act,). I report in respect of my examination of the charity's financial stalem8nts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Dir8Ctions given by the Charity Commission under section 145{51(bl of the Acl. Independent examlner's ststement I have completed my examination. I confirm that no rnaterlal matt8rs have come to my attention In connection with the examinallon giving me cause to believe that in any mat8rial respect: accounting records were nol kept In respect of the charity as required by section 130 of the Act., or Ihe financial statements do not accord with those records., or the flnancial statements do not comply with the appli¢able r8quirem8nls concerning the form and content of a¢counls sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair, view which is nol a matter ¢onsid8rerfas part of an independent examination. I have no concerns and have come across no other matters In connection with the examlnalion to whlch attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Louise Wade LW, Chartered Accountant Independent Examiner 10 Pintall Drive Iwade Kent ME9 8QW
Lakeview Village Hall Trust Statement of Flnancial Activities Year ended 30 April 2024 2024 Unrestflcted funds Total funds 2023 Total funds Noto Income and endowments Donation5 and legaci6S Charitable activities 209 17,127 209 17,127 17,336 117 14.414 Total Income 17.336 14,531 Expendlture Expendilure on raising funds: Costs of other trading activities Expenditure on charitsble activities Total oxpendlturo 10,348 15,406 10.348 15,407 4.471 10,692 25.754 25,755 15,163 Net expendlture and net movemont In funds {8,418) (8,419) (632) Reconclllatlon of funds Total funds brought forw3rd Total funds carrled forward 60,166 60,166 51,748 60,798 51,748 60,166 The stalemenl of flnancial activities includes all gains and10sses recognised in the year. All Income and expenditure derlve from contlnulng aclivilies. The notes on pages 7 to 11 form part of these linan¢lal statèments.
Lakeview Village Hall Trust Statement of Financlal Posltlon 30 Aprll 2024 2024 2023 Noto Current assets Debtors Cash at bank and In hand 12 2,744 49,343 52,087 1.965 58,541 60,506 Credltors: amounls falllng due wlthln one year Nol current asset8 13 340 340 51,747 60,166 Total assets less current Ilabllltlos 51,747 51,747 60,166 Net assets 60,166 Funds of the charlty Unrestricted funds 51,748 60,166 Tolal charlty funds 14 51,748 60,166 The financlal slalements were approved by the board of Iruslees and aulhorised for Issue on ., and are signed on behalf of the board by.. C McGowan Trust8e Tho notes on paggs 7 to 11 fonn part of these flnanclal statgments.
Lakeview Village Hall Trust Notes to the Financial Statements Year ended 30 April 2024 General Informatlon The charity is a public benefit entity and a registered charity in England and Wales and Is unincorporated. The address of the principal office is Great Easthall Way, Sittingbourne. Kent, ME10 3TF. Statement of compllance These financial slatèmenls hava been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the R8public of Ireland,, Ihe Slalement of Recommended Practice applicable lo charities preparing their accounts In accordance with th6 Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 102) (Charlties SORP IFRS 1021) and the Charities A¢1 2011. Ac¢ountlng pollcl88 Bas18 of preparatlon The financial slalements have been prepared on the hlstorical c05t basis, as modifled by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expendltur8. The flnancial statements are prepared in sterllng, whl¢h Is the functional currency of the entity. Golng concern Thèr8 ar8 no material uncertainties about the charity's ability to continue. Judgements and key sources of ostlmatlon uncertalnty No judgements, estimates and assumptions have been made In thes8 financial statements. Fund accountlng Unrestrict8d funds are available for use at the discretion of the trustees to further any of the charitvs purposes. Designated funds are unrestrlcled funds earmarked by the trustees for particular future Project or commitment. R8strict8d funds are subjected lo restrictions on their expenditure declared by th8 donor or through the terms of an appeal. and fall into one of Iwo sub-classes.. restricted income funds or endowment funds.
Lakeview Village Hall Trust Notes to the Flnanclal Statements (contlnued) Year ended 30 April 2024 Accountlng pollcles fcontlnu•d) Incomlng resourcos All incoming resources are Included in the statement of financial activities when entitlement has passed lo the charity: il is probable that the economic benefits associated with th8 transaction will flow lo the charity and the amount Gan be reliably m8asured. The following specific policies are applied to particular categories of income.. income from donatlons or grants is recognised when there is evidence of entitlement the gift, receipt is probable and ils amounl can be measured reliably. legacy income is recognised when receipt Is probable and enlitlement is eslabli5hed. Income from donated goods Is measured al the fair value of the goods unless this is Impractical lo measure reliably. In which case th8 value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when re¢eived If the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from conlra¢ls for the supply of services Is recognised wilh the dellvery of the contracted S8rvice. This is classified as unreslriGted funds unless there Is a contractual requirement for il to be spent on a particular purpose and returned if unspent, In which case it may be regarded as restricted. Resour¢e8 expended Expenditure is recognised on an 8¢¢ruals basis as a liability is incurred. Expendituré includes any VAT whlch cannot be fully recovered, and is classified under headings of the slalement of financial activities lo which11 relates.. expenditure on raising funds includ8s the costs of all fundralsing actlvitl8S, events, non- charitable trading activities. and the Sale of donated goods. expènditure on charitabl8 activities includes all costs incurred by a charity in undertaking activities that further its charitable alms for the benefit of ils benefl¢iaries, including those support cosls and costs relating lo the govèrnance of the charity apportioned to charilable activities. other expendlture includ8s all expenditure that is neither related to raising funds for the charlty nor part of its expenditure on charitable aclivilies. All costs are allocated lo expenditure categories reflecting the use of the resource. Dlr8Ct cosls attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activitie5 they ¢ontribute to on a reasonable, justif18ble and consistant basis. Flnanclal Instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contraclual provisions of the instrument. Basic financial instruments are initially recognised at the amounl receivable or payable including any related Iransaction costs.
Lakeview Village Hall Trust Notes to the Financial Statements (contlnuedj Year ended 30 Aprll 2024 Accounllng pollcles {conllnu*d) Flnanclal Inslruments (conllnuvd) Curr8nt assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or r8c8iV8d and not discounted. Debt instruments are 5ub5equenlly measured at amortised cost. Where investments in shares are publicly traded or th8lr falr value can otherwise be measured reliably, the Investm8nl is subsequently measured at fair value with Changes in faif value recognised in income and expenditure. All other such Investments are subsequenlly measured at cost less impairment. Other financial Instruments, including derivatives, are initially recognised at fair value. unless payment for an asset is deferred beyond normal business terms or financed at a rate of inleresl that is not a market rate. in which case the asset is measured al the present valuè of the future payments discounted at a market rate of Interest for a similar debt Instrument. Other financial instruments are subsequently measured at falr valu8, Wlth any change5 re¢ognlsed In the slalemenl of financial activities, with the exception of h8dging instruments in a deslgnated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment al the end of each reporting date. If there is objective evidence of impalrment, an Impairment loss is recognised under the appropriate heading in the slalemenl of financial aclivilies in which the initlal gain was r8cognised. For all equlty Instruments r8gard18ss of significance, and other financial assets that are individually significant, these are assessèd indivldually for impairment. Other financial assets are eith8r assessed Indlvldually or grouped on the basis of simllar credit risk ¢harac16riStics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the ¢arrylng amount would have been had the impairment not previously been reGognis8d. Donatlons and legacles Unrestricted Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Donatlons Business contributions 209 209 117 117 Charltable actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Hall hire 17,127 17,127 14,414 14.414
Lakeview Village Hall Trust Notes to the Financial Statements fGoftIinuJ Year ended 30 April 2024 Costs of other tradlng actlvltl88 Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Hall hire - repairs & maintenance Hall hire - insLbrance 9,843 505 9,843 505 4,117 354 4,117 354 10,348 10,348 4,471 4,471 Expendllure on charltable actlvllles by fund type Unr8Stricted Total Funds Unrestricted Tolal Funds Funds 2024 Funds 2023 Support costs 15.406 15,407 10.692 10,692 Expendlture on charltable actlvltles by actlvlty type Total funds 2024 Tolal fund 2023 Support costs Hall costs 15,407 15,407 10,692 Analysls of support co$ls Hall hire Total 2024 Total 2023 General offlce Finance costs 15,066 340 15,066 340 10,352 340 15,406 15,406 10,692 10. Independent examlnatlon fees 2024 2023 Fees payable to the Independenl examiner for: Independent examination of the financial statements 340 340 11. Trustee romunèratlon and expenses During th8 year £237 was paid to S Capper for stocklhall checking. £2,382 was paid to S Goatham for hall cleaning. £144 was paid to A McGowan for website costs and £606 was paid to M Bency¢h for gardening services. No other remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 10
Lakeview Village Hall Trust Notes to the Financial Statements (¢¢ntlnuod) Year ended 30 April 2024 12. Debtors 2024 2023 Trade debtors Prepayments and accrued income 2,442 302 1,741 224 2,744 1,965 13. Credltors: amounts falllng due wlthln one year 2024 2023 A¢¢ruals and d6ferr6d income 340 340 14. Analysls of ¢harltable funds Unreslrlcted funds At 1 May 2023 At Income Expendlture 30 Aprll 2024 General funds 60,166 17,336 (25,754) 51.748 At 1 May 2022 At Income Expendllure 30 April 2023 General funds 60,798 14,531 115,1631 60,166 15. Analysls of net assets betweén funds Unrestricted Tolal Fund8 Funds 2024 Current assets Creditors less than 1 year Nel assets 52,087 13401 51,747 52,087 (340) 51,747 Unrestricted Total Funds Funds 2023 Cufrenl ass8ts Creditors less than 1 y8ar Net assets 60,506 {340) 60,166 60.506 {3401 60.166 11