HUNGERFORD LIBRARY & COMMUNITY TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021
The trustees present their report with the financial statements of the charity for the year ended 30 September 2021. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2015).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal objective of the charity is to provide a Community Hub Building for the residents of the Town of Hungerford. This community space is used to promote education and social events.
PUBLIC BENEFIT
The charity's trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission; the trustees consider that the charity meets the public benefit requirements of the Charities Act 2011 by carrying out its stated aims and objectives.
ACHIEVEMENT AND PERFORMANCE
Fundraising and Grants
The trust continues to raise funds through fundraising utilising a number of methods including brick subscription membership from local residence and businesses amounts range from £5 to £100. To date this sponsorship and other donations has brought in approx. £5000. The local Town council also provides an annual grant, this year the amount was £9,000. The hub spent approx. £2000 updating The Curve to enable it to become a shop space. and approx. £2000 on providing a series of free events under the title of ‘The Well read Mind’, which were provided during the summer months of 2021.
HIRE FEES
The trust hires out the building (when it is not being used as a library) to local organisations and businesses. The revenue from Hire Fees is expected to raise £3700 in a full year this has been considerably reduced due to the effects of COVID over the past 2 years. The front office space has now been called The Curve and is being used as a community shop opening 3 days a week. The Curve sells locally produced arts and crafts on behalf of local people for which it receives commission on sales to boost the Hubs revenue. During the year the trust decided to provide free hire to any local group (not for profit) based in Hungerford as it has been provided with a large Covid grant (£27000) from West Berkshire Council during this financial year.
FINANCIAL REVIEW
The charity took over the operation of the building on 15[th] June 2018 , The accounts shown are for the third full year of operation from 1[st] October 2020 to 30[th] September 2021 with a surplus generated of £20698 due to the Covid grants being received, without this money a deficit of £3358 would have been posted.
Reserves policy
The charity is still in its early stages of operation and is in the process of building up reserves to a suitable level.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity was registered with the Charity Commission of England and Wales on 8[th] August 2017 and adopted a constitution as a Charitable Incorporated Organisation.
Recruitment and appointment of trustees
The chairman Mr Keith Knight and all others are "ex officio" trustees as prescribed in the Foundation's constitution.
Organisational structure
The structure of the Trust includes the governing Board of Trustees as well as the Hub Planning Committee charged with driving forward initiatives and fundraising based on the aims of the Trust.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1174118
Principal address
Hungerford Hub
Church St, Hungerford RG17 0JG
Trustees
Mr Keith Knight - Chairman Mrs Christine Hodgkin Ms Sarah Chatters Ms Jane Simpkins Mr Neil Marney Mrs Kathy Rough
Approved by order of the board of trustees on 22[nd] June 2022 . and signed on its behalf by……
…………………..
Chairman of Trustees
| Charity No (if any) 1174118 Period start date 01-Oct-20 To Period end date 30-Sep-21 Hungerford Library & Community Trust Annual accounts for the period |
Charity No (if any) 1174118 Period start date 01-Oct-20 To Period end date 30-Sep-21 Hungerford Library & Community Trust Annual accounts for the period |
|
|---|---|---|
| Section A Statement of financial activities | ||
| Recommended categories by activity Guidance Notes Incoming resources (Note 3) Income and endowments from: Donations and legacies S01 Charitable activities S02 Other trading activities S03 Investments S04 Separate material item of income S05 Other S06 S07 Resources expended (Note 6) Expenditure on: Raising funds S08 Charitable activities S09 Separate material item of expense S10 Other S11 S12 S13 Net gains/(losses) on investments S14 S15 Extraordinary items S16 S17 S18 Other gains/(losses) S19 S20 Reconciliation of funds: S21 S22 Total Net movement in funds Total funds brought forward Total funds carried forward Total Net income/(expenditure) before investment gains/(losses) Net income/(expenditure) Transfers between funds Other recognised gains/(losses): Gains and losses on revaluation of fixed assets for the charity’s own use |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05 43,519 - - 43,519 23,139 1,455 - - 1,455 4,898 - - - - - - - - - - - - - - - - - - - |
|
| 44,974 - - 44,974 28,037 |
||
| 607 - - 607 1,397 23,669 - - 23,669 26,582 - - - - - - - - - - |
||
| 24,276 - - 24,276 27,979 |
||
| 20,698 - - 20,698 58 |
||
| - - - - - |
||
| 20,698 - - 20,698 58 |
||
| - - - - - - - - - - - - - - - - - - - - |
||
| 20,698 - - 20,698 58 |
||
| - - - - - |
||
| 20,698 - - 20,698 58 |
Section B Balance sheet
| Fixed assets Intangible assets (Note 15) Tangible assets (Note 14) Heritage assets (Note 16) Investments (Note 17) Total fixed assets Current assets Stocks (Note 18) Debtors (Note 19) Investments (Note 17.4) Cash at bank and in hand (Note 24) Total current assets Creditors: amounts falling due within one year (Note 20) Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year (Note 20) Provisions for liabilities Total net assets or liabilities Funds of the Charity Endowment funds (Note 27) Restricted income funds (Note 27) Unrestricted funds Revaluation reserve Total funds Signed by one or two trustees on behalf of all the trustees |
Guidance Notes Unrestricted funds £ F01 B01 - B02 - B03 - B04 - B05 - B06 - B07 - B08 - B09 36,911 B10 36,911 B11 136 B12 36,775 B13 36,775 B14 - B15 - B16 36,775 B17 - B18 B19 36,775 B20 B21 36,775 Signature |
Unrestricted funds £ F01 - - - - |
Restricted income funds £ F02 - - - - |
Endowment funds Total this year £ £ F03 F04 - - - - - - - - |
Total last year £ F05 |
|---|---|---|---|---|---|
| - - - - |
|||||
| - | - | - - |
- | ||
| - - - 36,911 |
- - - - |
- - - - - - - 36,911 |
|||
| - - - 15,606 |
|||||
| 36,911 | - | - 36,911 |
15,606 | ||
| 136 | |||||
| 136 | - | - 136 | |||
| 36,775 | - | - 36,775 |
15,470 | ||
| 36,775 | - | -36,775 | 15,470 | ||
| - - |
|||||
| - - |
- - |
- - - - |
|||
| 36,775 | - | - 36,775 |
15,470 | ||
| - 36,775 |
- | - - - 36,775 - |
|||
| - - 15,470 |
|||||
| 36,775 | - | - 36,775 |
15,470 | ||
| Print Name KR KNIGHT |
Date of approval dd/mm/yyyy 22/06/2022 |
Auditor Report To be sent later............