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2023-12-31-accounts

Merstham Village Trust

Trustees’ Annual Report for the Year Ended 31[st] December 2023

Registered Charity Number

Merstham Village Trust is a charity registered with the Charity Commission as a CIO with the registration number 1175828.

Principal Address and Correspondence

The charity’s principal address is The Village Hall, Station Road North, Merstham, Surrey RH1 3ED. All general correspondence should be sent to this address.

Objectives and Activities

The primary objective of Merstham Village Trust is to provide a place for physical and mental recreation for the benefit of the inhabitants of Merstham and surrounding areas.

The main activities undertaken by the trustees in relation to this objective are the provision, upkeep and rental of the premises under the trust’s stewardship.

Structure, Governance and Management

The charity is constituted as a CIO and registered with the Charity Commission on 21[st] Nov 2017. In the calendar year 2023, the Trust was governed and managed by the following trustees:

Name Appointed Resigned
Enricko Bondoc 07.08.23
Judith Hanson 31.08.20
Steven Hill 01.01.20
Daniel Hopcroft 25.03.13
Amanda Martin 12.09.23
Nigel Martin 12.09.23
Rosalie McDonald 04.04.23
Vinnie Stolle 05.10.21 03.08.23

None of the above trustees were representatives of user groups of the Trust’s facilities although two of the trustees are members of user groups. The trustees share responsibility for chairing meetings.

Banker

CAF Bank Limited, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ.

Legal Advisers

Morrisons Solicitors LLP, Clarendon House, Clarendon Road, Redhill, Surrey RH1 1FB.

Page 1 of 12

Merstham Village Trust

Achievements and Performance

The use of the village hall continued at a similar level to 2022. The number of one-off hires, largely for parties and family events, has improved to pre-Covid levels but the number or regular hirers through the daytime during the week has yet to recover fully. The regular hirers represent a range of local groups who cover a broad range of activities including dance, sport, model railway, drama, karate, animal shows/training and a beer festival. Overall income for hall hire was similar to 2022.

The Trust continues to raise revenue by making its car park available for use by commuters and this continued to improve to more normal levels as commuters gradually return.

The death of Ann Weaver, a key Trustee, at Christmas 2022 created a difficult time for the remaining Trustees. Vinnie Stolle resigned as a Trustee in August. The Trustees would like to recognise the significant contribution Ann made whilst being a Trustee and also wholeheartedly thank Vinnie for his service to the Merstham community through the work of the Trust. The Trust was fortunate to be able to appoint three new Trustees in August and September 2023 and now has seven in total. The Trustees consider this number is adequate to ensure the efficient running of the Trust.

Due to the changes in Trustees during 2023, no major items of refurbishment were undertaken in the year and the overall expenditure on upkeep of the building was slightly down on that spent in 2022.

In 2023, the value of funds held in an investment regained most, but not all, of the value lost in 2022 reflecting the general stock market movements in 2023. The Trustees do not feel the money needs to be utilised in the short term so it will remain invested for use in future years.

The Trustees consider the financial position of the Trust to be sound.

Declaration

The trustees declare that they have approved the trustees’ report above

Signed on behalf of the charity’s trustees

Signatures
Full names
Positions
Date
Steven Hill Dan Hopcroft
Trustee Trustee
15.07.24 15.07.24

Page 2 of 12

Merstham Village Trust

Statement of Financial Activities Year Ended 31 December 2023

Unrestricted Restricted Total Funds Total Funds
All £ unless stated Notes Funds Funds 2023 2022
Income & Endowments From:
Donations & Legacies 2 - - - -
Charitable Activities 3 16,008 - 16,008 16,989
Other Trading Activities 4 14,675 - 14,675 12,671
Investments 5 7,704 - 7,704 3,821
Total 38,386 - 38,386 33,481
Resources Expended:
Raising Funds 6 630 - 630 1,324
Charitable Activities 7, 11 11,950 532 12,482 13,967
Governance Activities 8, 9, 11
98
- 98 155
Total 12,678 532 13,210 15,446
Net Income/(Expenditure) 25,708 (532) 25,176 18,034
Net Gains/(Losses)
on Investments 10 9,180 - 9,180 (12,925)
Net Movement in Funds 34,888 (532) 34,356 5,109
Reconciliation of Funds:
Total Funds Brought Forward 407,149 3,381 410,530 405,421
Total Funds Carried Forward 442,037 2,849 444,886 410,530

Page 3 of 12

Merstham Village Trust

Balance Sheet as at 31 December 2023

Unrestricted Restricted Total Funds Total Funds
All £ unless stated Notes Funds Funds 2023 2022
Fixed Assets:
Tangible Assets 12 62,219 - 62,219 64,144
Investments 13 107,433 - 107,433 98,253
Total Fixed Assets 169,652 - 169,652 162,396
Current Assets:
Debtors 14 5,943 - 5,943 4,781
Cash at Bank & In Hand 273,838 2,849 276,687 247,949
Total Current Assets 279,781 2,849 282,630 252,730
Liabilities:
Creditors: Due within one year 15,16
(7,396)
- (7,396) (4,596)
Net Current Assets 272,385 2,849 275,234 248,134
Total Net Assets 442,037 2,849 444,886 410,530
Total Funds of the Charity:
Restricted Income Funds 17 - 2,849 2,849 3,381
Unrestricted Funds 18 442,037 - 442,037 407,149
Total Charity Funds 442,037 2,849 444,886 410,530

These accounts were approved by the Trustees on 15[th] July 2024 and signed on behalf of the Trustees by:

Signature: ______

Steven Hill - Trustee

----- Start of picture text -----
Signature: ______
----- End of picture text -----

Dan Hopcroft - Trustee

Date of approval: 15[th] July 2024

Page 4 of 12

Merstham Village Trust

Notes to the accounts for the year ended 31 December 2023

Note 1 Accounting Policies

a) Basis of preparation

These accounts have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard FRS102, the Charities Act 2011 and applicable regulations.

The accounts have been prepared using the historic basis of accounting, except for investments which are shown at market value.

b) Funds structure

Restricted funds are funds which are to be used in accordance with the specific restrictions imposed by the donor or trust deed. There are three restricted funds detailed later in the notes to the accounts.

Unrestricted funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objectives. Unrestricted funds can include designated funds where the trustees, at their discretion, have created a fund for a specific purpose. There are currently no such designated funds.

c) Income recognition

All income is recognised once the charity has entitlement to the income and where there is sufficient certainty of receipt to make it probable that the income will be received and the amount of the income can be measured reliably.

Legacy gifts are recognised when there is sufficient certainty of receipt to make it probable that the income will be received and this has been confirmed by a third party.

d) Expenditure recognition

All expenditure is accounted for on an accruals basis. All expenses, including support and governance costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities.

e) Governance costs

Governance costs comprise all costs involving the public accountability of the charity and its compliance with relevant laws, regulation and good practice. These costs include costs related to statutory audit and legal fees.

f) Tangible Fixed Assets

All assets costing more than £5,000 are capitalised and valued at historical cost. No depreciation is charged on assets capitalised before 2015. All fixed assets procured after this date will be depreciated over their estimated useful economic life.

g) Fixed Asset Investments

All investments have been stated at market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation between the two balance sheet dates.

Page 5 of 12

Merstham Village Trust

Note 2 Income from Donations and Legacies

In 2023 the charity received no income from donations or legacies (2022: £0).

Note 3 Income from Charitable Activities

Income from charitable activities of £16,008 (2022: £16,989) represents fees for both regular and oneoff hire of the hall.

Note 4 Income from Other Trading Activities

Income from other trading activities of £14,675 (2021: £12,671) represents fees for the use of the car park belonging to the trust. Users of the hall are not charged a fee for use of the car park. The increase reflects the return to more normal levels of use for the car park by commuters following Covid.

Note 5 Investment Income

Note 5
Investment Income
All £ 2023 2022
Investments held in a common investment fund 2,954 2,938
Interest on cash deposits 4,750 883
Total 7,704 3,821

Note 6 Resources Expended on Raising Funds

Resources expended on raising funds £630 (2022: £1,324) represent fees paid for maintenance of the car park and the car park barrier.

Page 6 of 12

Merstham Village Trust

Note 7 Resources Expended on Charitable Activities

Resources expended on charitable activities for both unrestricted and restricted funds £13,967 (2021: £13,381) represent the running costs to provide the charitable activities:

Unrestricted
Restricted
Total Funds
Total Funds
All £ unless stated
Funds
Funds
2023
2022
1 Kitchen Refurbishment
1,925
-
1,925
2,566
2 Fire Prevention
258
-
258
2,038
3 Hall Insurance
1,993
-
1,993
1,930
4 Electrical Maintenance
-
-
-
1,896
5 Electricity
1,777
-
1,777
1,299
6 Cleaner, Materials & Windows
2,058
-
2,058
1,210
7 Hall Maintenance and Materials
1,040
-
1,040
1,193
8 Village Garden
-
488
488
784
9 Water
1,478
-
1,478
338
10 Internet
288
-
288
262
11 Rates
135
-
135
181
12 Bank Charges
60
-
60
81
13 Gifts
77
-
77
78
14 Kitchen Equipment
-
-
-
68
15 Village Clock
-
44
44
42
16 Postage
2
-
2
-
17 Memorial Bench
-
-
-
-
18 Heating Maintenance
860
-
860
-
19 Door Locks
-
-
-
Total
11,950
532
12,482
13,967
Note 8
Governance Costs
All £
2023
2022
Independent examiner’s fees for reporting on accounts
-
-
Trustees’ indemnity insurance
98
155
Trustees’ expenses
-
-
Total
98
155
Unrestricted
Restricted
Total Funds
Total Funds
All £ unless stated
Funds
Funds
2023
2022
1 Kitchen Refurbishment
1,925
-
1,925
2,566
2 Fire Prevention
258
-
258
2,038
3 Hall Insurance
1,993
-
1,993
1,930
4 Electrical Maintenance
-
-
-
1,896
5 Electricity
1,777
-
1,777
1,299
6 Cleaner, Materials & Windows
2,058
-
2,058
1,210
7 Hall Maintenance and Materials
1,040
-
1,040
1,193
8 Village Garden
-
488
488
784
9 Water
1,478
-
1,478
338
10 Internet
288
-
288
262
11 Rates
135
-
135
181
12 Bank Charges
60
-
60
81
13 Gifts
77
-
77
78
14 Kitchen Equipment
-
-
-
68
15 Village Clock
-
44
44
42
16 Postage
2
-
2
-
17 Memorial Bench
-
-
-
-
18 Heating Maintenance
860
-
860
-
19 Door Locks
-
-
-
Total
11,950
532
12,482
13,967
Note 8
Governance Costs
All £
2023
2022
Independent examiner’s fees for reporting on accounts
-
-
Trustees’ indemnity insurance
98
155
Trustees’ expenses
-
-
Total
98
155
Unrestricted
Restricted
Total Funds
Total Funds
All £ unless stated
Funds
Funds
2023
2022
1 Kitchen Refurbishment
1,925
-
1,925
2,566
2 Fire Prevention
258
-
258
2,038
3 Hall Insurance
1,993
-
1,993
1,930
4 Electrical Maintenance
-
-
-
1,896
5 Electricity
1,777
-
1,777
1,299
6 Cleaner, Materials & Windows
2,058
-
2,058
1,210
7 Hall Maintenance and Materials
1,040
-
1,040
1,193
8 Village Garden
-
488
488
784
9 Water
1,478
-
1,478
338
10 Internet
288
-
288
262
11 Rates
135
-
135
181
12 Bank Charges
60
-
60
81
13 Gifts
77
-
77
78
14 Kitchen Equipment
-
-
-
68
15 Village Clock
-
44
44
42
16 Postage
2
-
2
-
17 Memorial Bench
-
-
-
-
18 Heating Maintenance
860
-
860
-
19 Door Locks
-
-
-
Total
11,950
532
12,482
13,967
Note 8
Governance Costs
All £
2023
2022
Independent examiner’s fees for reporting on accounts
-
-
Trustees’ indemnity insurance
98
155
Trustees’ expenses
-
-
Total
98
155
Unrestricted
Restricted
Total Funds
Total Funds
All £ unless stated
Funds
Funds
2023
2022
1 Kitchen Refurbishment
1,925
-
1,925
2,566
2 Fire Prevention
258
-
258
2,038
3 Hall Insurance
1,993
-
1,993
1,930
4 Electrical Maintenance
-
-
-
1,896
5 Electricity
1,777
-
1,777
1,299
6 Cleaner, Materials & Windows
2,058
-
2,058
1,210
7 Hall Maintenance and Materials
1,040
-
1,040
1,193
8 Village Garden
-
488
488
784
9 Water
1,478
-
1,478
338
10 Internet
288
-
288
262
11 Rates
135
-
135
181
12 Bank Charges
60
-
60
81
13 Gifts
77
-
77
78
14 Kitchen Equipment
-
-
-
68
15 Village Clock
-
44
44
42
16 Postage
2
-
2
-
17 Memorial Bench
-
-
-
-
18 Heating Maintenance
860
-
860
-
19 Door Locks
-
-
-
Total
11,950
532
12,482
13,967
Note 8
Governance Costs
All £
2023
2022
Independent examiner’s fees for reporting on accounts
-
-
Trustees’ indemnity insurance
98
155
Trustees’ expenses
-
-
Total
98
155
Unrestricted
Restricted
Total Funds
Total Funds
All £ unless stated
Funds
Funds
2023
2022
1 Kitchen Refurbishment
1,925
-
1,925
2,566
2 Fire Prevention
258
-
258
2,038
3 Hall Insurance
1,993
-
1,993
1,930
4 Electrical Maintenance
-
-
-
1,896
5 Electricity
1,777
-
1,777
1,299
6 Cleaner, Materials & Windows
2,058
-
2,058
1,210
7 Hall Maintenance and Materials
1,040
-
1,040
1,193
8 Village Garden
-
488
488
784
9 Water
1,478
-
1,478
338
10 Internet
288
-
288
262
11 Rates
135
-
135
181
12 Bank Charges
60
-
60
81
13 Gifts
77
-
77
78
14 Kitchen Equipment
-
-
-
68
15 Village Clock
-
44
44
42
16 Postage
2
-
2
-
17 Memorial Bench
-
-
-
-
18 Heating Maintenance
860
-
860
-
19 Door Locks
-
-
-
Total
11,950
532
12,482
13,967
Note 8
Governance Costs
All £
2023
2022
Independent examiner’s fees for reporting on accounts
-
-
Trustees’ indemnity insurance
98
155
Trustees’ expenses
-
-
Total
98
155
Unrestricted
Restricted
Total Funds
Total Funds
All £ unless stated
Funds
Funds
2023
2022
1 Kitchen Refurbishment
1,925
-
1,925
2,566
2 Fire Prevention
258
-
258
2,038
3 Hall Insurance
1,993
-
1,993
1,930
4 Electrical Maintenance
-
-
-
1,896
5 Electricity
1,777
-
1,777
1,299
6 Cleaner, Materials & Windows
2,058
-
2,058
1,210
7 Hall Maintenance and Materials
1,040
-
1,040
1,193
8 Village Garden
-
488
488
784
9 Water
1,478
-
1,478
338
10 Internet
288
-
288
262
11 Rates
135
-
135
181
12 Bank Charges
60
-
60
81
13 Gifts
77
-
77
78
14 Kitchen Equipment
-
-
-
68
15 Village Clock
-
44
44
42
16 Postage
2
-
2
-
17 Memorial Bench
-
-
-
-
18 Heating Maintenance
860
-
860
-
19 Door Locks
-
-
-
Total
11,950
532
12,482
13,967
Note 8
Governance Costs
All £
2023
2022
Independent examiner’s fees for reporting on accounts
-
-
Trustees’ indemnity insurance
98
155
Trustees’ expenses
-
-
Total
98
155
Total 11,950 532 12,482
Note 8
Governance Costs
All £
Independent examiner’s fees for reporting on accounts
Trustees’ indemnity insurance
Trustees’ expenses
2023
-
98
-
2022
-
155
-
155
Total 98

Note 9 Related Party Transactions

There were no related party transactions in the year ended 31[st] December 2023 (2022: £0). Under the terms of our trust deed certain of the trustees may represent the users of our facilities. In this financial year this was not the case and none of the trustees represented a user group.

Note 10 Gains/Losses on Investment Assets

Unrestricted
Restricted
Total Funds
Total Funds
All £ unless stated
Funds
Funds
2023
2022
Profit/(loss) on revaluation of investments
9,180
-
9,180
(12,925)
Total gain on investment assets
9,180
-
9,180
(12,925)
Unrestricted
Restricted
Total Funds
Total Funds
All £ unless stated
Funds
Funds
2023
2022
Profit/(loss) on revaluation of investments
9,180
-
9,180
(12,925)
Total gain on investment assets
9,180
-
9,180
(12,925)
Unrestricted
Restricted
Total Funds
Total Funds
All £ unless stated
Funds
Funds
2023
2022
Profit/(loss) on revaluation of investments
9,180
-
9,180
(12,925)
Total gain on investment assets
9,180
-
9,180
(12,925)
Total gain on investment assets
9,180
- 9,180

Page 7 of 12

Merstham Village Trust

Note 11 Staff Costs, Trustee Remuneration and Expenses

All £
Salary costs to 0 (2022: 0) individuals
2023
-
2022
-

The trustees all give freely of their time and expertise without any form of remuneration, or other benefit in kind (2022: £0). No trustee received payment for professional or other services supplied to the charity (2022: £0).

The trustees did not make a claim for administration expenses in 2023 (2022: £0).

Note 12 Tangible Fixed Assets

No expenditure on fixed assets was incurred in the year (2022: £0).

Freehold Land
All £ unless stated
& Buildings
Cost as at 1stJan 2023
-
Additions
-
Freehold Land
All £ unless stated
& Buildings
Cost as at 1stJan 2023
-
Additions
-
Other Land
Fixtures, Fittings
& Buildings
& Equipment
49,905
32,817
-
-
Other Land
Fixtures, Fittings
& Buildings
& Equipment
49,905
32,817
-
-
Total
82,722
-
82,722
18,578
1,925
20,503
64,144
62,219
As at 31stDec 2023 - 49,905 32,817
Depreciation as at 1stJan 2023
Charge for year
-
-
-
-
18,578
1,925
As at 31stDec 2023 - - 20,503
14,239
Net book value as at 1stJan 2023 - 49,905
As at 31stDec 2023 - 49,905 12,314

Note 13 Fixed Asset Investments

The charity holds 5,413.59 units in the COIF Charities Investment Fund.

All £ 2023
Carrying (market) value at 1stJan 2023 98,253
Additions to investments at cost -
Disposals at carrying value -
Add/(deduct) net gain/(loss) in revaluation 9,180
Carrying (market) value at 31stDec 2023 107,433

Page 8 of 12

Merstham Village Trust

Note 14 Debtors

Debtors reflect monies owed by regular hall users. Prepayments are for utilities, rates and insurance.

All £ 2023 2022
Trade debtors 5,121 3,956
Prepayments 822 825
Total 5,943 4,781

Note 15 Creditors: amounts falling due within one year

Trade creditors reflect monies owed to/(from) utilities and suppliers, plus refundable deposits for hall and car park hire. Accruals and deferred income include monies received for 2023 hire of the car park and hall.

All £ 2023 2022
Trade creditors 1,960 790
Deferred income (see note 16) 5,436 3,807
Total 7,396 4,596

Note 16 Deferred income

Deferred income relates to monies received relating to hire of the hall and car park for 2024.

All £
Balance as at 1stJan 2023 3,807
Amounts released to income earned from charitable activities (3,807)
Amount deferred in year 5,436
Balance as at 31stDec 2023 5,436

Note 17 Restricted Funds

All £ unless stated
Clock repair fund
Garden
Balance at
1 Jan 2023
341
3,040
Incoming
Resources
-
-
Expenditure
(44)
(488)
Balance at
31 Dec 2023
297
2,552
2,849
Total restricted funds 3,381 - (532)

The Clock Repair Fund is a restricted fund to be used solely for the repair and maintenance of the millennial village clock.

The Garden Fund is a restricted fund to be used solely for the maintenance and upkeep of the village garden.

Page 9 of 12

Merstham Village Trust

Note 18 Unrestricted Funds

All £ unless stated
General fund
Designated funds
Balance at
1 Jan 2023
407,149
-
Balance at
1 Jan 2023
407,149
-
Incoming
Resources
48,566
-
Incoming
Resources
48,566
-
Expenditure
(12,678)
-
Expenditure
(12,678)
-
Balance at
31 Dec 2023
442,037
-
442,037
Total unrestricted funds 407,149 48,566 (12,678)
There are no designated funds at this time.
Note 19 Analysis of Group Net Assets between Funds
As at 31 Dec 2023
Unrestricted
Restricted
All £ unless stated
Funds
Funds
Tangible fixed assets
62,219
-
Investment fixed assets
107,433
-
Cash at bank and in hand
273,838
2,849
Other net current assets/(liabilities)
1,453
-
Total
Funds
62,219
107,433
276,687
1,453
444,886
Total funds 442,037 2,849

Note 20 Post Balance Sheet Events

There have been no post balance sheet events.

Page 10 of 12

Merstham Village Trust CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Roport to the truth Merstham Ifillage TrLVJt On a¢￿￿Trts forthe year •nded 31 December, 2023 Charity no (rf any) 1175828 Sgt out on page8 3to10 I report to the trustees on my examinati￿ of the accounts of the above hwity fthe Trrfl for the year end&1 3111212023 R￿ponsIbIlItIeS and bvis of r¢port As the cthaiity's trustees, you are responsible forthe weparation ofthe accounts in accordance with the requirements ofthe Charibes Ad 2011 ("the Acr) I repjrt in respect of my examinatbjn ofthe TrusY8 acts)unts ￿led out under sectw)n 145 of the 2011 Act and in carrying OL5t my examinatKJn, I have followed au the applicabl8 Direthns given by the Charlty Commission under 145(5Mb) ofthe A Indopondènt I have Comp￿ my examinallon. I confimi that Th) maknl matters have oxamlnofs Statsment com& to my attention in Connect￿ I￿1h the examination which giv8s me cause to beli8ve that in, any malefial respeL'. the aC￿UntIng re￿rdS I￿re ncrt kept in accord8nce with section 130 of the Ch￿itIeS Act: or the ￿Counts did not aceord wilh the accounliry recorts; or the ￿coUnts did not ￿npty with the applKable I￿ulrements Cc￿CeM1n9 the fomi and content of accounts set out in the Chorities (Aco)unts and Report81 Regulations 2008 other than any requirement that tha accounts give a Irue arml fairf vivm whth is not a matter considered as part of an indeperKlent examination. I have rn) ￿ncernS enj have ￿me ￿0$8 no cAheT matter8 in conn&tion ith the examination to wh￿h attention shouhl be drawn in this repx)rt in order to enable a proper undetstanding of the acmunls to be reached. Signod: JOHN BENNE Relevant woknional quallficati¢M{s) or boty (rf any): Addr8ss: 11. st Marf¥ ￿en$, Horsham. West Su88ex. RH12 1JP Page 11 of 12

Merstham Village Trust

Section B Disclosure

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

Page 12 of 12