2023-12-31-accounts - St Peter's Memorial Hall

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ST. PETER’S MEMORIAL HALL

REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2023

CHARITY NO.: 1175949

ST. PETER’S MEMORIAL HALL

TREASURER’S REPORT

Another year whizzes by, and I am pleased to say we are thriving, and still ging strong after 100 years. We have more hirers than ever before, even from London and Brighton, which has helped us keep the hire charges the same for the past seven years.

However costs are always rising, so we cannot ignore them forever. One area of concern is where hirers are arriving or leaving at the hall much earlier or later than the time paid for. The extra lighting, and possible water use are costs which we do not budget for, so should this continue, hire charges will have to rise.

We are very grateful for grants from Broadstairs and St Peters Town Council, which are being spent on creating a memorial garden for Queen Elizabeth II, and improvements in the toilet facilities.

Gordon Eyles

CHAIRMAN’S REPORT

The team at St Peters have yet again performed miracles in keeping this valuable community hall open to all. From retirement groups to kid’s parties we seem to be able to please many people and all at reasonable rental hires. There has been further upgrading of facilities mostly financed from our own sources. It has been a pleasure to see a full return of activities after the pandemic.

Michael Wheatley-Ward

Statement of Trustees' Responsibilities

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

The law applicable to charities 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:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

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 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on ………………….. and signed on its behalf by:

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF ST. PETER’S MEMORIAL HALL

I report to the Trustees on my examination of the accounts of St. Peter’s Memorial Hall for the year ended 31[st] December 2023.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act).

I report in respect of my examination of the accounts carried out under section 145 of the Act, and in carrying out the examination I have followed all applicable Directions given by the Charity Commission under section 145 (5)(b) of the Act.

INDEPENDENT EXAMINER’S STATEMENT

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Memorial Hall as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Name: Peter R Smith

ICPA (Fellow), ACPA

50 Queen Street, Ramsgate, CT11 9EE

DATE :

ST. PETER’S MEMORIAL HALL

STATEMENT OF FINANCIAL ACTIVITIES

[INCORPORATING STATEMENT OF INCOME & EXPENDITURE]

FOR THE YEAR ENDED 31[ST] DECEMBER 2023

NOTE Activities for generating funds Rental income Storage fees 2 Investment income 3 Grants TOTAL INCOMING RESOURCES COST OFRAISINGFUNDS: 4 Rates & Water Light & Heat Insurance Telephone, Postage & Stationery Repairs & Maintenance Cleaning Booking Secretary’s Honorarium General Expenses & Depreciation Licence & Subscriptions (net of refund) Net incoming resources available for charitable application CHARITABLEEXPENDITURE Management & Administration 7 TOTAL RESOURCES EXPENDED 8 Net movement in funds Transfers between funds RECONCILIATION OFFUNDS TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD	UNRESTRICTED RESTRICTED £ 2023 FUND FUND TOTAL 29,320 29,320 375 375 525 525 3,000 3,000 ______ 33,220 33,220 ______ 1,053 1,053 1,907 1,907 1,424 1,424 1,206 1,206 11,963 11,963 535 535 1,000 1,000 140 140 75 75 ______ 19,303 19,303 348 348 ______ 19,651 19,651 ______ 13,569 13,569 - - 51,660 51,660 ______ 65,229 65,229 _______	£ 2022 TOTAL 24,815 325 43 4,667 __ 29,850 _ 598 2,135 1,291 873 9,676 5,351 1,000 157 460 21,541 324 *21,865* 7,985 - 43,675 *51,660* ___

ST. PETER’S MEMORIAL HALL

BALANCE SHEET AS AT 31[ST] DECEMBER 2023

FIXEDASSETS Tangible Assets TOTALFIXEDASSETS CURRENTASSETS Debtors Cash at bank & in hand TOTALCURRENTASSETS LIABILITIES Creditors: amounts falling due within one year NETCURRENTASSETS TOTAL ASSETS LESSCURRENT LIABILITIES NETASSETS FUNDS OF THE CHARITY Restricted income funds Unrestricted income funds TOTAL CHARITY FUNDS	UNRESTRICTED RESTRICTED TOTAL FUNDS FUNDS FUNDS £ £ £ NOTE 9 8,724 8,724 ______ 8,724 8,724 _____ 10 819 819 11 56,597 56,597 ____ 57,416 57,416 12 911 911 ____ 56,505 56,505 65,229 65,229 ____ 65,229 65,229 ____ - 13 65,229 65,229 ____ 65,229 65,229 _______	PRIOR YEAR £ 8,864 __ 8,864 _ 501 42,882 43,383 587 42,796 51,660 *51,660* - 51,660 *51,660* ___

The notes at pages 5 to 9 form part of these accounts

Approved by the trustees on and signed on their behalf by:

CHAIR OF TRUSTEES

ST. PETER’S MEMORIAL HALL

NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES

The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied throughout.

a] Basis of Accounting

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note[s] to these accounts.

The accounts have been prepared in accordance with: the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts present a true and fair view and the accounting policies adopted are those outlined in note 1.

No changes to accounting estimates have occurred in the reporting period.

No material prior year errors have been identified in the reporting period.

The adoption of FRS 102 has not resulted in the change to any fund balance to those previously stated.

b] Income

Items of income are recognised and included in the Statement of Financial Activities (SOFA) when:

the charity becomes entitled to the resources
it is more likely than not that the trustees will receive the resources; and
the monetary value can be measured with sufficient reliability.

There has been no offsetting of assets and liabilities or income and expenses.

Grants and donations are only included in the SOFA when the general income recognition criteria are met.

The charity has incurred expenditure on support costs.

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

c] Expenditure and liabilities

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

The charity made no redundancy payments during the reporting period.

No material item of deferred income has been included in the accounts.

ST. PETER’S MEMORIAL HALL NOTES TO THE ACCOUNTS (CONT)

The charity has creditors which are measured at settlement amounts less any trade discounts.

Tangible Fixed Assets

All fixed assets are initially recorded at cost.

Depreciation has been calculated to write off the cost of tangible fixed assets over their expected useful lives using the following rates:

Furniture and Equipment

7 ½% per annum

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

2. INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS

Rental income Storage fees	UNRESTRICTED RESTRICTED TOTAL FUNDS FUNDS 2023£ 2023£ 2023£ 29,320 29,320 375 375 _____ 29,695 29,695 _____	TOTAL 2022£ 24,815 325 _ 25,140 _

3. INVESTMENT INCOME

Bank interest receivable	UNRESTRICTED RESTRICTED TOTAL FUNDS FUNDS 2023£ 2023£ 2023£ 525 525 ________	TOTAL 2022£ 43 _

ST. PETER’S MEMORIAL HALL NOTES TO THE ACCOUNTS (CONT)

4 . FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS

Hall costs Depreciation 5.COSTS OFCHARITABLEACTIVITIES BY FUND TYPE Hall costs [including depreciation as shown in note 8] 6. COSTS OFCHARITABLEACTIVITIES BY ACTIVITY TYPE Hall costs [including depreciation as shown in note 8] 7. OTHERCOSTS Independent examiner’s fee	UNRESTRICTED TOTAL FUNDS 2023£ 2023£ 19,163 19,163 140 140 _____ 19,303 19,303 _____ UNRESTRICTED TOTAL FUNDS 2023£ 2023£ 19,303 19,303 _____ UNRESTRICTED TOTAL FUNDS 2023£ 2023£ 19,303 19,303 _____ UNRESTRICTED TOTAL FUNDS 2023£ 2023£ 348 348 _____	TOTAL 2022£ 21,390 151 __ 21,541 _ TOTAL 2022£ 21,541 TOTAL 2022£ 21,541 TOTAL 2022£ 324 ___

ST. PETER’S MEMORIAL HALL NOTES TO THE ACCOUNTS (CONT)

8. NET INCOMING/[OUTGOING] RESOURCES FOR THE YEAR

This is stated after charging Depreciation	2023 £ 140 ______	2022 £ 151 _

9. TANGIBLE FIXED ASSETS

FREEHOLD IMPROVEMENTS FURNITURE PROPERTY TO PROPERTY FIXTURES& FITTINGS £ £ £ Cost or valuation at 1.1.23 & 31.12.23 7,000 - 17,001 _ _ Depreciation at 1.1.23 - - 15,137 Charge for the year - - 140 __ _ - - 15,277 __ _ Net book value at 1.1.23 7,000 - 1,864 __ _ Net book value at 31.12.23 7,000 - 1,724 __ ____	TOTAL £ 24,001 __ 15,137 140 _ 15,277 *8,864* *8,824* ___

The property is shown at its original cost price and has not been depreciated. The trustees consider the site to be worth a minimum of £100,000 and the current re-instatement insurance value is at least £380,000 + VAT. The insurance revaluation was recommended by Gore and Co in March 2016.

10. DEBTORS Prepayments 11. CASH AT BANK	£ 2023 819 __ £ 2023 56,597 ____	£ 2022 501 __ £ 2022 42,882 ____

ST. PETER’S MEMORIAL HALL NOTES TO THE ACCOUNTS (CONT)

12. CREDITORS

£2023 Deposits 25 Rental fees carried forward due to Covid-19 - Other Creditors 886 _ 911 All creditors relate to unrestricted funds in 2023 and 2022. 13. UNRESTRICTED INCOME FUNDS Balance at Incoming Outgoing 1 January 2023 Resources Resources £ £ £ General Funds 51,660 33,220 19,651 ___________	£ 2022 25 - 562 _ 587 Balance at 31 December 2023 £ 65,229 ___

The unrestricted funds are available to be spent for any of the purposes of the charity.