Farnborough Village Hall Reglstered Charlty No 1174761 Trustees Annual Report and Financial Statements forthe Year ended 31 March 2024
Farnborough Village Hall Trustees Annual Report forthe year ended 31 March 2024 Introduction The princlpalactiviwofthe Charity continues to bethe operation. maintenance. and Upkeep of Farnborough Village Hall for th8 benefit the inhabitant8 of Farnborough Vii&ge. Prlor to 1M Aprll 2018 F8rnborough Vi118ge Hall operated as 8n unincorporated charty(Registered Charity Number 223383) During 2017 a newcharityw8s created as a Cheritable In¢orpor8ted Organisation {Registered Charity Number 17747611 to take overthe Assets and Liabilities of the old Charity and then contlnue to malntaln and operate the Hall. Thistransfertook place as atthe close ofbusiness on 31 March 2018. The Trustees Robln Walker Jo Baird Ichalrman) l LettingAgent) (Secretary) (rrust88 appolnted 11 Aprll 20241 trru$teg appointed 11 April 20241 rusteel (Truste8 resignéd 11 Aprll 20241 Sue Ellis Nlck Abbott Richard Bush Jenny Kerr John Tlnham Offic•r• BrlanAbbo Appolnted a8 bookkeeper. He Is not 8 trustee du8 to conlllcts Ot Interest and doe8 not h8ve 8 vote at trustee meeting3. Results Incom8 fortheyearw88 £24.718 { 2023-£18,9881. Lettings income amounted to £24.136 {2023 £18.8391. Expendltur8 Incurred was £25.63812023- £23,632}- Durlng the year the Truste8S Sanded and protected the H811 tloor Repiaceo the tloorlng in the toilets. Replaced the urinals and basin8 in the gents tollet. The Trustees decided to delay replacingthe ceiling tlles until 2024125 Reserves The total reserves atthe year end were £48.560 (2023- £49.4801. The Trustees have set target of maintalnlng & Oeslgnated reserve for major repalrs and improvements to the hall of beeen(£4o,0oo and £50,0001- For 2023 the Trustees have agreed a deslgnated reserve of £48.000 (2023- £49.000). Page 2
Farnborough Village Hall Trustees Annual Report forthe yearended 31 March 2024 Reserves continued The Trustees consid8rthat the reserves aré currently adequate to malntain and run the hall. Future Plans The Trustees plan to continue to malntaln the Village Hall in futur8 years. The planned work was c8rri8d out last year and included a structural survey as suggested by 8 builder. New m8lorworks planned for nextyear are: Removingredundantducting. Replacing 811 the ceiling tiles. Replaclng tables used by hlr8r8 Replacing the Front Door Risk The Trustees have rev5ewed the rlsks to the Charlty and have acted to mitigate 8nd controlthem. Th8 Trustees consider th8tthe major rlsks are personal injury to the users and volunteers, flre and vandalism to the building. The Truste8s continue to maintain the premises and undertake regular tests and consicler there is 8dequ8te insurance in place. The other m8jorri8k 18 8uc¢e5sion pl8nningfortheTrust88sand en$uringthat no regular hlrer is repr8sent8d by 8 majority of the Trustee Board. Golng Concern The Trustees have increased the Hall hire rat8S to cover the increased running costs. In vlew otthis Ihe Trustee8 considerthat the Villag8 Hall Is still a golng concern. Agreed by the Trustees The Trust88s approved the Trustees report on 1110412024 and authorised the Chairman to sign on their behaLf. Robin Walkerlchairmanl Date 1110412024 Page 3
Farnborough VilLag8 Hall Independent Examlners Reportfor the yearended 31 March 2024 Charity law states that it is the responsibility of the Trustees to maintain proper financial records and prepare FinanciaL Statements in accordance with those records. Charities with a turnover over£25,000 are required to have the Financial Statements Independently Examined. The turnover of Farnborough Village HaiLwas under £25,000 and therefore an Independent Examination 18 not required for the years ended 31 March 2024 & 31 March 2023. These financial statements were however informally r8view8d. and no issues were raised with the Trustees. Page 4
st8tementof HnanelAIActhtltle8lorthèYèar Ended 31 March 2024 Notas 2024 2024 2024 Unre8trirted D•Jlgnatod Totsi Incom8 Charltablo Incom Activiliesfor G6neratlng Fund8 Interost Total Incomlng Resourtt 75 24,138 75 24,136 507 24718 57 18.839 102 18,998 507 507 24211 Exponditurg Charltable Expendltur• N•t Ineomellexpendlturèl And not mov•m•nt$ Sn lund$fory•ar 13,607 10,604 12.031 111.5241 25.838 23,632 {9201 14,6341 Tran8fer batw88n Fund$ Income over Expondlture R•¢on¢lLUatlon ot Funds Roaarv•s brouoit Forward R•JerveJ G8rrl•d Fornerd 10,524 80 10,524 11.0001 1920) 14.6341 480 49,000 49,480 S4,114 48,000 48.S60 49.480 Th• Sf•tom•nt ol FlnanclalActlvltl•s Includ0• eiiylng and Lo8u8 r•¢oinlMd In th• y•or All Incom• and Expendlture derlvfj from contlnulnq A¢tlvltl•• Balan¢• Shoot 8$ at 31 M8roh 2024 Notv• 2Q24 2024 2024 Unre8trl¢tgd Designated Tot81 2023 Flx•d A$l•t$ Curront as8Ot8 Dgbtor• Bank&Ca•h Totsl Currént Assèts 1,028 907 1,935 1,028 594 48,907 51,142 49,936 S1.736 48,000 48.000 Le88 ¢rodltor$ due wlthln 12 months 11,3761 11,3751 12,2561 R¢$•Thiès Cèrri•d ForAtthrd 48.000 48.580 49N80 Notes 1 to 8form an Integral p8rt0l thè#•fln•nclo1 statement3 ThoTrust••• opprovad th• Fln•ncl•i8t*t•m•nt8 on 1110412024and authorls•d th4 ChuirmAn to slgn on thelrbehalf Page 5
Farnborough viitsge Hall Notes to the FinanciaLStatements forthe year ended 31 March 2024 Noto Incoming R$$ources from CharitabteA¢tJvttl•s 2024 75 2023 Donation• Incom•lrom A¢tlvltlo1 for G•n•ratlni Income 2024 22.602 1,534 2023 1e,618 2,223 He8ULar Hlro CoguAL Hlre 24,138 18.839 l expendrture Inrrad by the Charty in 2023 & 2024 ks In r•spoct ol malntslning 8nd improving the village hall for Il¥ by Its ben¢fl¢iari. 2Q24 13,607 12,031 25,838 2023 15.024 8,608 23.832 Rocurrin8 E¥p8ndlture Non Rocurrlng Expenditure ronilblo Fix¥(l A•••ts Th• Ch•rlty ¢wn8 th• olth• ho11 and ground•, whl¢h w•ro don•l•d In th? l•te 189UB. The Twst*p$ d¢ not have th• 81¥ to placa 8 V81u• on lh• land and property and cor$8lder the exp8llS• DI obtalnlng a valualK)n prohibits¥e and unH8c8ssary •xpen6e Debtors Everyy8AfiheTrustees ende8vourto ensure that all rent$ 8r8 pald before the yeAr and. 2023 2024 1.028 Reguipr Hlr8 Outstsndlng Page 6
Farnborough Village Hall Notes to the Financial Statements forthe year ended 31103124 continued 6 Bankand Cagh 202$ 48.688 2.476 61.142 Business SavingsAccount Curr•ntAccount 47A23 48.907 7 Crfjdttor• 2024 1.090 285 1.375 2023 1.737 519 Créuitors &Accruais C88ual Hlre pald In advance The Charitydoes not heonY rostrlcted reservey. A ae31gn8ted r88èN6 has b•6n Creatso to fur the rnalor repalrs that are r8qulred to m8intain a buildin8 over 100 years old.Thg Tru¥tge8 hovg agreed thatthe l&rgetforthl¥ fund ig È50,000. The Trustees have raplpnished thi$tund to a balance ol £48.000 durlng202312024 Page 7