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2024-03-31-accounts

NORTH LEIGH WAR MEMORIAL HALL CIO, PARK ROAD,NORTH LEIGH,WITNEY,OXON OX29 6SA

TRUSTEES REPORT

The trustees present their report together with the unaudited financial statements for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

Reference and administrative details

Trustees at 31 March 2024 were:

Paul Burgum Annette Duffell Wendy Goddard Jeremy Taylor Dawn Burt Sara Dickinson

These financial statements have been independently examined by Nicola Cadwallader FCCA,AIIT,CTA

Our bankers are Lloyds Bank

North Leigh War Memorial Hall Charitable Incorporated Organisation (CIO) is a registered charity with the number 1175776 formed as a CIO on 16 November 2017

OBJECTIVES AND ACTIVITIES

The Charity's objectives are the provision and maintenance of a village hall for the use of the inhabitants of the Parish of North Leigh and the repair and maintenance of the Memorial Cross in North Leigh Churchyard.

Public Benefit

In setting the objectives of the Charity and planning our activities, the Trustees have paid due regard to the public benefit guidance published by the Charity Commission.

ACHIEVEMENTS AND PERFORMANCE

Investments

There has been no capital investment in the financial year.

Incoming Funds

The income for the year has been very much in line with budget and expectation with one modest but very welcome grant of £500 which was used to offset some of the expenditure on the film equipment. In November we held the festive craft fair which is a popular event and generated £1,150 towards hall funds. The film nights generated £1,698 but with costs on licences totalling £1,350 they do little more than break even. We do have a core group of attendees who very much enjoy the film nights making them a worth while community event. Hall hire in the year was £14,204 which was less than we had expected largely because we didn’t get as many casual bookings as we had hoped to. We made a decision to change the policy concerning childrens parties and this has improved bookings in the latter part of the year. Rental income totalled £13,117 for the year and Income generated from the solar panels on the roof of the hall was £1,511 .

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NORTH LEIGH WAR MEMORIAL HALL CIO, PARK ROAD,NORTH LEIGH,WITNEY,OXON OX29 6SA

TRUSTEES REPORT (CONTINUED)

FINANCIAL REVIEW

The hall continues to be well used. It is reaching an age when we are having to spend quite large amounts on maintenance . We had predicted this and have been managing funds carefully for this eventuality. In the year we spent £10,657 on repairs to the roof and £4,278 on the replacement of a fire door. Both jobs were urgently required. One item of expenditure which we hadn’t expected was the requirement to have a tree survey carried out on the oak tree behind the hall. This was a requirement by the insurers of the hall to ensure that the roots were not encroaching on the structure. They are not but it was considered prudent to also have the deadwood removed from the tree. The total cost of the tree work was £1,187. We had budgeted to spend £30,000 on general maintenance work in the financial year with an expected deficit of £28,000. Some of the work that we had expected to carry out is carried forward to the current financial year so our premises expenses were nearer to £20,000 and our deficit is £19,476.

We know that the block paving in front of the hall will be replaced in the current financial year and that the hall windows and openers are to be repaired and replaced. We also need to have an electrical survey undertaken. These are three major projects and we therefore expect to operate with a deficit again for the year ending March 2025.

Our cash position remains sound with £77,000 in the bank but we can only spend more than we make for a limited time and so there is a need for donations, grants and fundraising to help the hall to continue to thrive.

STRUCTURE GOVERNANCE AND MANAGEMENT

North Leigh War Memorial Hall is a registered Charitable Incorporated Organisation with the number 1175776, and was registered on 16 November 2017.It commenced activities on 1[st] April 2018, after the completion of the transfer of the assets and liabilities of its predecessor, an unincorporated charitable trust, registered with the Charity Commission in England and Wales under number 250459.

Appointment of Trustees

The selection of Trustees is designed to supplement the existing skills and expertise of the Board and is governed by an informal skills assessment. Appointment of Trustees is made in accordance with the Articles of Association. Trustees are trained in their duties informally and inducted by their fellow Trustees in the duties and responsibilities involved.

Risk Assessment

The Trustees recognise and accept their responsibility for ensuring that risks to which the Charity is exposed are reviewed and steps taken to mitigate potential damage by the use of appropriate preventative controls and corrective actions. They are aware of the Charities SORP (FRS102) and accept the requirement, in relation to all aspects of their work, for regular assessment of operating strengths and weaknesses. To this end the risk management strategy comprises an annual review of the risks which the Charity may face; the establishment of systems and procedures to mitigate those risks identified; and the implementation of procedures designed to minimise any potential impact on the Charity should any of those risks materialise.

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NORTH LEIGH WAR MEMORIAL HALL CIO, PARK ROAD,NORTH LEIGH,WITNEY,OXON OX29 6SA

TRUSTEES REPORT (CONTINUED)

PLANS FOR THE FUTURE

The Trustees aim to continue to run and maintain the Hall for the benefit of the village.

There are no major plans for the coming year other than to ensure that the hall is in a good state of repair for the users.

TRUSTEES' RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS

The trustees are responsible for preparing the trustees’ report and the financial statements in accordance with general applicable law and United Kingdom Accounting Standards (United Kingdom General Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act, the Charities (Accounts and Reports) Regulations 2008. They are also responsible for safekeeping the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

W Goddard

ON BEHALF OF THE TRUSTEES 16[th] July 2024

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NORTH LEIGH WAR MEMORIAL HALL CIO, PARK ROAD,NORTH LEIGH,WITNEY,OXON OX29 6SA

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF NORTH LEIGH WAR MEMORIAL HALL

YEAR ENDED 31 MARCH 2024

I report on the accounts of the charity for the year ended 31 March 2024 set out on pages 7 to 11

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

BASIS OF INDEPENDENT EXAMINER'S STATEMENT

My examination was carried out in accordance with the General Directions given by the Charities Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present ‘a true and fair view’ and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

(b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011Act

have not been met; or

a proper understanding of the accounts to be reached.

Nicola Jane Cadwallader FCCA David Cadwallader and Co Limited Unit 3 Bignell Park Barns Chesterton Oxon OX26 1TD

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NORTH LEIGH WAR MEMORIAL HALL CIO, PARK ROAD,NORTH LEIGH,WITNEY,OXON OX29 6SA

PRINCIPAL ACCOUNTING POLICIES

BASIS OF ACCOUNTING

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

INCOME

Donations

All monetary donations and gifts are included in full in the statement of financial activities when receivable, provided that there are no donor-imposed restrictions as to the timing of the related expenditure, in which case recognition is deferred until the pre-condition has been met.

Donations are credited as income when the donations are received. Any associated Gift Aid is only credited when claimed and received

Grants receivable

Revenue grants are credited as incoming resources when they are receivable provided conditions for receipt have been complied with, unless they relate to a specified future period, in which case they are deferred.

Grants for the purchase of fixed assets are credited to restricted incoming resources when receivable. Depreciation on the fixed assets purchased with such grants is charged against the restricted fund.

EXPENDITURE

Expenditure is recognised on an accruals basis. It includes VAT which the charity is unable to recover which is reported as part of the expenditure to which it relates.

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NORTH LEIGH WAR MEMORIAL HALL CIO, PARK ROAD,NORTH LEIGH,WITNEY,OXON OX29 6SA

PRINCIPAL ACCOUNTING POLICIES (Continued)

FUND ACCOUNTING

Restricted funds are to be used for specified purposes laid down by the donor. Expenditure for those purposes is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for expenditure on the general objectives of the charity.

TANGIBLE FIXED ASSETS AND DEPRECIATION

All fixed assets are initially recorded at cost.

Depreciation is calculated to write off the cost of the freehold property, less its estimated residual value, over its useful economic life, estimated at 80 years. Fixtures and equipment are written off over a five year period.

DEBTORS

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

CASH AT BANK AND IN HAND

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

CREDITORS AND PROVISIONS

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

FINANCIAL INSTRUMENTS

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

DEFINED CONTRIBUTION PENSION

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

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NORTH LEIGH WAR MEMORIAL HALL CIO, PARK ROAD,NORTH LEIGH,WITNEY,OXON OX29 6SA

STATEMENT OF FINANCIAL ACTIVITIES (incorporating an income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from
Donations
Grants
Fund raising events
Investments
Rents and hiring
charges receivable
Other trading activities
Total incoming
resources
Expenditure on
Raising funds– cost of
goods sold and other
costs
1
Charitable activities
Salaries
2
Rates and water
Light and heat
Repairs and maintenance
3
Insurance
Office expenses
Legal
Interest
Depreciation
Other
Total expenditure
Net (expenditure)/income
Total Funds at 1 April
2023
Total Funds at 31 March
2024		 Unrestricted
funds
£
0
500
2,847
27,322
2,535		 Restricted
funds
£
-
-
-
-
-		 Combined
Total
2024
£
0
500
2,847
27,322
2,535		 Unrestricted
funds
£
0
0
1,307
26,642
2,402		 Restricted
funds
£
-
-
-
-
-		 Combined
Total
2023
£
0
0
1,307
26,642
2,402
33,204 33,204 30,351 30,351
1,350
7,675
1,038
4,175
17,955
1,857
1,408
1,878
-
3,097
2,719
43,152
(9,948)
101,346
91,398		 -
-
-
-
-
-
-
-
-
9,528
-
9,528
(9,528)
619,858
610,330		 1,350
7,675
1,038
4,175
17,955
1,857
1,408
1,878
-
12,625
2,719
52,680
(19,476)
721,204
701,728		 122
6,883
666
3,785
7,846
1,723
1,016
937
-
516
2,766
26,260
4,091
97,255
101,346		 -
-
-
-
-
-
-
-
-
9,528
-
9,528
(9,528)
629,386
619,858		 122
6,883
666
3,785
7,846
1,723
1,016
937
-
10,044
2,766
35,788
(5,437)
726,641
721,204

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NORTH LEIGH WAR MEMORIAL HALL CIO, PARK ROAD,NORTH LEIGH,WITNEY,OXON OX29 6SA

BALANCE SHEET AT 31 MARCH 2024

Note
Fixed assets
Tangible assets
4
Current assets
Stock
Debtors
5
Cash at bank and in hand
Creditors: amounts falling due within one year
6
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one
year
Net assets
Income Funds
Unrestricted funds
Restricted funds
7		 2024
£
621,573		 2023
£
634,198
0
5,936
77,148
83,084
2,929
80,155
701,728
-
701,728
91,398
610,330		 89
5,698
84,462
90,249
3,243
87,006
721,204
-
721,204
101,346
619,858
701,728 721,204

Trustees’ Responsibilities

• The members have not required the Charity to obtain an audit of its accounts for the year in question in accordance with section 476; and

• The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts were approved by the members of the committee and authorised for issue on 16 July 2024 and are signed on their behalf by

…………………………………. Trustee

W Goddard

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NORTH LEIGH WAR MEMORIAL HALL CIO, PARK ROAD,NORTH LEIGH,WITNEY,OXON OX29 6SA

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1. FUNDRAISING – COST OF GOODS SOLD AND OTHER COSTS

Film costs
Cost of other purchases for fundraising purposes		 2024
£
1,350
0
1,350		 2023
£
122
-
122

2. STAFF COSTS

Costs of £7,675 (2023: £6,883) relate to the employment of approximately one third of one full time equivalent employee. This includes £199 Employers Pension contribution (2023: £182).

3. REPAIRS AND MAINTENANCE

Repairs to, and servicing of, the fire alarm system
Storeroom conversion
Roof Repairs
Repairs to entrance doors
Maintenance to fire escape doors
Plumbing repairs
Repair and replace various light bulbs and fittings
Other minor Hall repairs
Paving renovation
Decorating
Replacement Fire doors		 2024
2023
£
£
573
452
0
900
10,657
0
896
1,002
540
-
251
1,462
640
485
0
45
0
3,500
120
0
4,278
0
17,955
7,846

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NORTH LEIGH WAR MEMORIAL HALL CIO, PARK ROAD,NORTH LEIGH,WITNEY,OXON OX29 6SA

4. TANGIBLE FIXED ASSETS

Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Provided in the year
At 31 March 2024
Net book amount at 31 March 2024
Net book amount at 31 March 2023		 Freehold
property
£
762,206
-		 Fixtures &
equipment
£
40,198
0		 Total
£
802,404
0
762,206 40,198 802,404
142,977
9,528		 25,229
3,097		 168,206
12,625
152,505 28,326 180,831
609,701
619,229		 11,872
14,969		 621,573
634,198

All tangible fixed assets were used for charitable purposes.

5. DEBTORS

Trade debtors
Other debtors
Prepayments		 2024
£
4,476
389
1,071
5,936		 2023
£
3,096
1,618
984
5,698

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade Creditors
Accruals/Sundry Creditors		 2024
£
0
2,929
2,929		 2023
£
2,238
1,005
3,243

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NORTH LEIGH WAR MEMORIAL HALL CIO, PARK ROAD,NORTH LEIGH,WITNEY,OXON OX29 6SA

7. RESTRICTED FUNDS

Donations to fund the
building of the Hall
Donation to purchase and
install acoustic panels
Donation for PA system
Donation for new doors
Donation for Energy
saving
Total		 At 1 April
2023
£
619,229
-
399
-
230
619,858		 Donation
received
£
-
-
-
-
-
-		 Expenditure
£
9,528
-
-
-
9,528		 At 31 March
2024
£
609,701
-
399
-
230
610,330

8. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Net current assets		 Unrestricted
Funds
£
11,872
79,526
91,398		 Restricted
Funds
£
609,701
629
610,330		 Total
£
621,573
80,155
701,728

9. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

The charity had no capital commitments or contingent liabilities at 31 March 2024 or 31 March 2023.

10. RELATED PARTY TRANSACTIONS

There were no transactions with Trustees or other related party transactions that are required to be disclosed under FRS 102

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