BOURNE TOWN HALL TRUST CHARITY COMMISSION REGISTERED NO. 1176315
FINANCIAL STATEMENTS
for the year ended 31 December 2021
BOURNE TOWN HALL TRUST
Charity Information
for the year ended 31 December 2021
Charity number
1176315
Trustees
Mr Charles John Houseago Mr Kevin Leslie Fisher - Retired February 2022 Mrs Hilary Elizabeth Bloomer Mrs Nicola Ann Ferguson Mrs Katrina Lloyd Mrs Ranna Patel Mrs Jane Gabbutt - Appointed February 2022
Bankers
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Independent Examiner
K.J. Maggs B.A, F.C.A. Moore Thompson Bank House Broad Street Spalding Lincs PE11 1TB
Registered Office
Bourne Town Hall North Street Bourne PE10 9EA
Page 1
BOURNE TOWN HALL TRUST
Annual Report
for the year ended 31 December 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021.
The charity's principle address is The Old Town Hall, North Street, Bourne, Lincolnshire, PE10 9EA.
Structure, governance and management
Governing document
The charity is constituted by the Charity Commission and was registered in England and Wales on 15 December 2017 with charity number 1176315. The charity is governed by its Foundation CIO constitution, which was adopted on 11 September 2017.
The charity is also known as Bourne Sessions House, Bourne Town Hall Restoration Project, and The Old Town Hall, Bourne.
Objectives and Activities
Bourne Town Hall Trust CIO's objects are to provide facilities, in the interest of social welfare, for recreation and leisure time occupation with the object of improving the conditions of life of the inhabitants of Bourne (including the provision and maintenance of a community arts centre).
The trusts activities include the following:
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Management to the Old Town Hall on behalf of the Town.
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Applications for, and the management of, grants supporting the planned restoration and conversion of the building as a community Arts centre.
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Organisation of events and fundraising.
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Recruitment and management of volunteers to support the charity goals.
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Coordination with all stakeholders.
Trustees
The trustees who are also the members and served the charity during the period are detailed on Page 1. New trustees are appointed by the current trustees from people over 16 who have shown a keen interest in the work of the charity and have abilities required on the governing body, apart from the first charity trustees, every trustee must be appointed for a term of three years. At least one of the trustees must be 18 years of age or over. Training is provided to keep trustees up to date with new legislation etc. on a regular
All new trustees are provided with a copy of the constitution and the latest Trustees Annual Report and statement of accounts. Trustees are removed from the board if they resign, have been absent from three consecutive meetings without due reason or voted off by a majority of the trustees due to conduct prejudicial to the charity.
Unless due to legal reasons for removal, the board shall consist of at least four trustees, whilst the maximum number of trustees is seven trustees. The charity may not appoint any trustees if as a result the number of trustees would exceed the maximum.
Financial Review
The results for the charity for the financial year are detailed on pages 6 to 13. These financial statements cover the early stages of the restoration project mainly establishing the viability and pathway forward.
Public Benefit
The trustees declare that they have due regards to the guidance on public benefit issues by the charity commission, all trustees have been provided with the Charity Commission Guidance Notes on Public Benefit and it is the intention to review the guidance with respect to our activities at trustee meetings each January.
Page 2
BOURNE TOWN HALL TRUST
Annual Report
for the year ended 31 December 2021
Public Benefit continued…
Bourne Town Hall was built on land donated by the Marquis of Exeter in 1821. The building provided for Petty and Quarter Sessions plus a covered market for the inhabitants of Bourne, Lincolnshire. Since this time the building had remained a central point of Bourne until the Magistrates Court ceased operations in 2008 and the local council relocated its offices in 2014. Since that time, it had remained unoccupied and it was not seen as a cost-effective use of Council funds especially during austerity.
The trustees and other volunteers consider the building to be an important part of the town and of the Bourne community. The support of the Bourne people and other entities will enable them to return the building to the local community and hopefully in perpetuity for the future.
The restoration project is expected to take a considerable time especially as the trustees wish to restore the fabric of the original Georgian building which has been hidden by modern additions. Once work is completed then we hope to have created an arts and entertainment centre for the whole community.
The building will have original features but will be flexible to match up to date expectations and requirements. It will not just be historic building it will be a practical and vibrant structure.
Achievement and Performance
In October the trust held a hugely successful 200th birthday celebration with 10 days of events with a mix of ticketed and free events enabling all within our local community, whatever their means, to take part in the celebrations. These included local history talks, an art exhibition, a craft market, story time with a local author, board game cafes as well as music, theatre, and comedy evenings.
All events were extremely well attended, with hugely positive feedback from the public, the volunteers and even the stallholders, especially as the relaxing of COVID 19 regulations meant these were some of the first of these types of events people were attending since the restrictions were introduced.
During the period the Trust secured grant funding from various sources including the Len Pick Trust and Invest SK.
Two grants received in the year from Len Pick Trust. £5,549 for sound and lighting equipment for the downstairs Shambles bar and a second of £7,951 given close to year end will be utilised in the next financial year to for sound and lighting equipment for the upstairs courtroom to create a performance space upstairs.
Localgiving Ltd granted the charity an award in order to assist in the purchase of new tables and chairs for the Shambles bar when it was able to reopen following the COVID-19 restrictions enabling a cabaret style seating to be created in order to facilitate the social distancing guidelines in place at the time.
The InvestSK grant was awarded to enable the appointment of experienced consultants to assist in writing a bid for the Heritage Lottery Fund development phase of the overall regeneration project.
The Local, District and County Council have all provided funding to enable the core funding to be established and drive the whole project forward. This goes a long way to demonstrating the importance of the project for the Community of Bourne and the County as a whole.
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.
The principal risk towards the Charity is a lack of funding and income to support it's stated aims. The trustees have considered this risk and believe that with careful management they will be able to continue to fulfil the objectives of the Charity.
Page 3
BOURNE TOWN HALL TRUST
Annual Report
for the year ended 31 December 2021
Going concern and the Covid-19 Pandemic
Due to the Covid-19 restrictions, all public events at the Town Hall were suspended for much of the year. The Trustees took the opportunity to make preparations in order to reopen when restrictions were relaxed in July 2021. Current reserves and on-going donations are sufficient to support the Trust at this time.
Property - Bourne Town Hall
The freehold property known as Bourne Town Hall in North Street, Bourne is currently held in trust by Lincolnshire County Council. The property will become a functional asset of the charity providing sufficient funds are secured to complete the renovation works.
The charity had a three year rent free period which was extended by two years to enable initial works to be carried out and funds to be arranged.
Reserves
It is the long term policy of the charity to aim to build sufficient reserves to meet 12 months base running costs of the building.
The charity trustees are in the process of raising funds for the restoration work of the whole building. This is expected to cost in the region of £2.2m and take three to four years to complete.
The Trustees regularly review the amount of reserves that are required to ensure that they are adequate to fulfil the charity's continuing obligations. The carried forward unrestricted reserves as at 31 December 2021 are £27,732, and the carried forward restricted reserves as at 31 December 2021 are £16,493.
For and on behalf of the board of trustees:
….........................................
Mr C Houseago Chair of Trustees
Date: ….........................................
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BOURNE TOWN HALL TRUST
I report to the trustees on my examination of the accounts of the Charity for the year ended 31 December 2021, which are set out on pages 6 to 13.
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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable 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.
….........................................
Dated: ….........................................
K.J. Maggs B.A., F.C.A. MOORE THOMPSON Chartered Accountants Spalding
Page 5
BOURNE TOWN HALL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 December 2021
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2021 2020
Note Unrestricted Restricted Total Total
£ £ £ £
INCOME AND ENDOWMENTS FROM:
Charitable donations 1,357 - 1,357 2,828
Grant income 2 2,500 24,448 26,948 5,000
Fund-raising 1,292 - 1,292 104
Charitable activities 3 15,220 - 15,220 5,220
TOTAL INCOME 20,369 24,448 44,817 13,152
EXPENDITURE ON:
Raising funds
Event costs 294 - 294 -
Charitable activities 4 19,133 2,020 21,153 12,660
Support costs
Subscriptions 297 - 297 292
Bank and card charges 236 - 236 73
Accountancy fees 498 - 498 480
Independent examination 498 - 498 480
1,529 - 1,529 1,325
TOTAL EXPENDITURE 20,956 2,020 22,976 13,985
NET (EXPENDITURE) / INCOME (587) 22,428 21,841 (833)
Transfers between funds 8 8,935 (8,935) - -
NET MOVEMENT IN FUNDS 8,348 13,493 21,841 (833)
Reconciliation of funds:
Brought forward 19,384 3,000 22,384 23,217
Carried forward 27,732 16,493 44,225 22,384
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The notes on pages 8 to 13 form part of these accounts
Page 6
BOURNE TOWN HALL TRUST
BALANCE SHEET
At 31 December 2021
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2021 2020
Note £ £ £ £
FIXED ASSETS
Fixtures, fittings and equipment 5 21,180 14,960
CURRENT ASSETS
Stock 710 205
Debtors
Trade debtors 100 1,000
Other debtors 150 294
Prepayments - 36
250 1,330
Bank and cash in hand
CAF Bank 26,339 7,796
Cash in hand 252 250
26,591 8,046
Current Assets 27,551 9,581
CREDITORS: Amounts falling due within
one year
Trade creditors 2,329 1,197
Accruals 2,177 960
4,506 2,157
NET CURRENT ASSETS 23,045 7,424
TOTAL ASSETS LESS LIABILITIES 44,225 22,384
CHARITY FUNDS
Restricted funds 8 16,493 3,000
Unrestricted funds 27,732 19,384
44,225 22,384
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The financial statements on pages 6 to 13 were approved by the Trustees on …......................................... and signed on their behalf by:
….........................................
Mr C Houseago Chair of Trustees
…......................................... Mrs K Lloyd Treasurer
The notes on pages 8 to 13 form part of these accounts
Page 7
BOURNE TOWN HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2021
1. Accounting Policies
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.
(a) Basis of preparation of financial statements
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 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 Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the Charity.
(b) Funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
(c) Income recognition
All incoming resources are included in the Statement of Financial Activities (SoFA) when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
Investment income is recognised in the accounts when the amount can be measured reliably and the Charity's right to receive payment is established.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure.
(d) Expenditure recognition
Expenditure is accounted for gross on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Charitable activities expenditure include all resources applied by the Charity in undertaking its charitable objectives as opposed to support costs.
Page 8
BOURNE TOWN HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued)
for the year ended 31 December 2021
1. Accounting Policies (continued)
(d) Expenditure recognition (continued)
Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs and governance costs.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
(e) Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
(f) Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as
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|---|---|---|
|Computer equipment|3 years|straight line|
|Office equipment|5 years|straight line|
|Furniture|3 years|straight line|
|Leasehold property improvements|5 years|straight line|
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(g) Going Concern
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements, which is sufficient with the level of reserves of the Charity to be able to continue as a
2. Grants receivable
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|---|---|---|
|2021|2020|
|£|£|
|Bourne Town Council|1,500|-|
|InvestSK Limited|10,248|1,000|
|Localgiving Ltd|500|-|
|Lincolnshire County Council|200|-|
|Len Pick Trust|13,500|4,000|
|South Kesteven District Council|1,000|-|
|26,948|5,000|
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Page 9
BOURNE TOWN HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued)
for the year ended 31 December 2021
3. Charitable activities - income
| Event Ticket Sales Bar sales Hall Hire income Art / Merchandise income Grants towards utilities |
Restricted £ £ 6,851 - 7,013 - 300 - 56 - 1,000 - 15,220 - 2021 Unrestricted |
Total £ 6,851 7,013 300 56 1,000 15,220 |
2020 Total £ 3,048 1,172 - - 1,000 5,220 |
|---|---|---|---|
4. Charitable activities - expenditure
| Bar stock Entertainment Ticketing costs and fees Licences and subscriptions Telephone and communications Computer running costs Repairs and maintenance Printing, postage and stationary Small equipment Training costs Light and heat Legal and professional fees Insurance Utilities Sundry expenses Depreciation |
Restricted £ £ 3,100 73 3,674 - 323 - 639 - 310 - 117 - 845 - 194 - 285 147 102 - 2,151 - 275 1,800 443 - 155 - 127 - 6,393 - 19,133 2,020 2021 Unrestricted |
Total £ 3,173 3,674 323 639 310 117 845 194 432 102 2,151 2,075 443 155 127 6,393 21,153 |
2020 Total £ 852 2,411 144 70 274 120 911 19 144 - 2,872 - 331 218 53 4,241 12,660 |
|---|---|---|---|
Page 10
BOURNE TOWN HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued)
for the year ended 31 December 2021
5. Fixed assets
| £ 13,595 Additions 2,075 Carried forward 15,670 3,456 Charge 3,100 Carried forward 6,556 Net book value At 31 December 2021 9,114 At 31 December 2020 10,139 Leasehold property improvements Brought forward Cost Brought forward Depreciation |
Computer equipment £ 2,248 358 2,606 1,355 733 2,088 518 893 |
£ 5,627 10,180 15,807 1,699 2,560 4,259 11,548 3,928 Furniture, fixtures and equipment |
Total £ 21,470 12,613 34,083 6,510 6,393 12,903 21,180 14,960 |
|---|---|---|---|
6. Trustees Remuneration, Expenses and Control
There were no remuneration or expenses paid to the Trustees during the period. The Charity is controlled by the Trustees as a body. No individual Trustee has control over the Charity.
7. Related Party Transactions
There are no related party transactions during the period.
8. Restricted funds
| At 1/1/21 £ Shambles Flooring 2,000 Jazz Workshop 1,000 Sound and Lighting Equipment - COVID-19 Grants - Heritage Lottery Bid - Furniture fund - Restricted funds 3,000 Unrestricted funds 19,384 22,384 |
Income £ - - 13,500 200 10,248 500 24,448 20,369 44,817 |
Outgoing £ - - - (200) (1,800) (20) (2,020) (20,956) (22,976) |
Transfers £ (2,000) - (6,455) - - (480) (8,935) 8,935 - |
At 31/12/21 £ - 1,000 7,045 - 8,448 - 16,493 27,732 44,225 |
|---|---|---|---|---|
Transfers
When restricted funds have been used for the purpose for which they were granted to create an asset and the restriction no longer applies then the funds are transferred into unrestricted or endowment funds depending upon the stated requirements or purpose of the asset where applicable.
Page 11
BOURNE TOWN HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued)
for the year ended 31 December 2021
8. Restricted funds (continued)
These funds are represented by:
| Jazz Workshop Sound and Lighting Equipment Heritage Lottery Bid Restricted funds Unrestricted funds Shambles Flooring Jazz Workshop QuickBooks Subscription Restricted funds Unrestricted funds 2020 |
Fixed assets £ - - - - 21,180 21,180 Fixed assets £ - - - - 14,960 14,960 |
Current assets £ 1,000 7,045 10,248 18,293 9,258 27,551 Current assets £ 2,000 1,000 144 3,144 6,437 9,581 |
Current liabilities £ - - (1,800) (1,800) (2,706) (4,506) Current liabilities £ - - (144) (144) (2,013) (2,157) |
Total £ 1,000 7,045 8,448 16,493 27,732 44,225 Total £ 2,000 1,000 - 3,000 19,384 22,384 |
|---|---|---|---|---|
Shambles Flooring
The Shambles Flooring fund represents monies which were granted for the provision of new flooring in the Shambles bar in the prior year of which the cost was to be spread over that year and the current financial year.
Jazz Workshop
The Jazz Workshop fund relates to a grant received from Invest SK Limited for the provision of a Jazz band and music workshop, unfortunately this was postponed due to the COVID-19 lockdown restrictions, it has been planned for 2022.
Sound and Lighting Equipment
Sound and lighting equipment fund relates to monies received for the purpose of providing the sound and lighting equipment for the Shambles bar and for the Courtroom in order to create a performance space.
COVID-19 Grants
COVID-19 Grants represents funds granted in order to help equip the bar enabling it to reopen when COVID-19 restrictions were eased.
Heritage Lottery Bid
The Heritage Lottery bid fund relates to funds received from the Heritage Lottery in order to assist with the restoration of the Bourne Town Hall and bring it back into public use as a pivotable part of the local community.
Page 12
BOURNE TOWN HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued)
for the year ended 31 December 2021
8. Restricted funds (continued)
Furniture fund
The Furniture Fund relates to a Localgiving Limited Grant which was awarded to assist in the purchase of new tables and chairs for the Shambles bar prior to the reopening after COVID-19 restrictions were eased as a cabaret style seating was created in order to facilitate the social distancing guidelines in place at the time.
9. Financial Commitment
The charity has a rent free agreement with Lincolnshire County Council for a period of three years with a option to extend to five years. Due to the historic nature and condition of the building it has not been possible to estimate a market rent and as such the gift in kind has not been included in the Statement of Financial Activities.
10. Comparatives
STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM: Charitable donations Grant income Fund-raising Charitable activities TOTAL INCOME EXPENDITURE ON: Charitable activities Bar stock Entertainment Ticketing costs and fees Licences and subscriptions Cleaning costs Telephone and communications Computer running costs Repairs and maintenance Printing, postage and stationary Small equipment Light and heat Insurance Utilities Sundry expenses Depreciation Support costs Subscriptions Bank charges Accountancy fees Independent examination TOTAL EXPENDITURE NET (EXPENDITURE) / INCOME |
2,684 - 104 5,220 8,008 852 2,411 144 70 14 274 120 911 19 144 2,872 331 218 39 4,241 148 73 480 480 13,841 (5,833) |
144 5,000 - - 5,144 - - - - - - - - - - - - - - - 144 - - - 144 5,000 |
2,828 5,000 104 5,220 13,152 852 2,411 144 70 14 274 120 911 19 144 2,872 331 218 39 4,241 292 73 480 480 13,985 (833) |
|---|---|---|---|
Page 13
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Signature 1
Signed by Charles Houseago using authentication code YkN5RnJQbWxLKWZq at IP address 92.11.188.126, on 2022/10/19 08:30:05 Z.
Charles Houseago's e-mail address is: charles@houseago.com.
Signature 2
Signed by Katrina Lloyd using authentication code VFkhQWIvMlp0bDU3 at IP address 86.140.140.254, on 2022/10/19 12:31:19 Z.
Katrina Lloyd's e-mail address is: treasurer@bournetownhall.org.uk.
Signature 3
Signed by Ken Maggs using authentication code MHdwP3wmRShKUFhx at IP address 51.145.95.137, on 2022/10/19 13:06:21 Z.
Ken Maggs's e-mail address is: ken@mooret.co.uk.