Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST Charity Commission registered no. 1176315 FINANCIAL STATEMENTS for the year ended 31 December 2023
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST Index for the year ended 31 December 2023 Legal and Administrative Infomiation TnJ$tees' Annual Report 2105 Independent Examinerf$ Report Stslemenl of Financial Activ"e$ Balan¢e Sheet Note5 to the Financial Stslements 9t015
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST Charity Inforniation for the year ended 31 December 2023 Charlty Numb¢r 1176315 Registered office Bourne Town Hall North Street Bourne PE10 9EA Board of Trustees Mr Charles John Houseago Mrs Hilary Elllabeth Bloomer Mrs Nicola Ann Fer9uson Mrs Katrina Lloyd Mrs Ranna Patel Mrs Jane Gabbutt Mr Gavin Li$hman Chair TreaSur (Appoinled 25 July 20241 Bankor# CAF Bank Ltd 25 King$ Hill Avenue Kings Hill Wesl Malling Kent ME19 4JQ Independent ExamSner Ken Maggs BA, FCA Hoekman Way Spalding Lincs PE113HE Page 1
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST Annual Report for the year ended 31 December 2023 The trustees present their re the financial statements of the charty for the year ended 31 December 2023. The chanty's principle address is The Old Town Hall. North Street. Bourne, Lincolnshire, PE10 9EA. Structure. governance and management Govomlng documont The charity is Consliluted by Ihe Chanty Commission and vrns registered in England and Wales on 15 December 2017 with Chanty number 1176315. The ¢hanty is govemed by Tts Foundation CIO constrtulion, which was adopted on 11 September 2017. The chanty is also known as Bourne Sessions House, Boume Town Hall Restoratson Project. and The Old Town Hall, Boume. Obloctivos and A¢tiviti8¥ Bourne Town Hall Trust CIO'S objects are to il provide tscililies. in the Interest of social weffare. for recre3b.on and leisure time occupation with the object of improving the conditions of lrfe of the inhabitants of 8oume lincluding the provision and maintenance of a community arts centrel. ill advance educ*ion of the inhabitants of Boume including.. al in all form$ of the art$.. al by securing, restoring. preserving and onng for the fabric of Bourne Town Hall and a880cialed land and buildings having historic interest or architectural merit. The trusts aclimb'es include the following". 1. Management to the Old Town Hall on behaw of the Town. 2. Applications for, and the monagement of, grants supporting the planned restoration and conversion of the building as a community Arts centre. 3. Organisabon of events and fundraising. 4. Recruilmenl and management of volunteers to support the charity goals. S. Ct)ordination wlh all stakeholders. Trust99S The trustees who are also the members arKI 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 shovm a keen interest in the work of the charity and have abilibes required on the goveming body. apart from the first charity Iruslees. every Iruslee musl be appointed for a term of three years. Al least one of the Iruslees must be 18 years of age or over. Training is provided to keep trustees up to date wth new legislation etc. on a regular basis. All new Iruslees are provided with a Copy of the Conslitulion and the latest Trustees Annual Report and stslement of accounts. Trustees are removed from the board if they resign, have been absent from three consecutive meetings vthoul due reason or voted off by a majority of the Iruslees due lo conduct prejudicial to the charity. Unless due to legal reasons for removal, the board shall consist of at least four trustees. Page 2
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST Annual Report (continued) for the year ended 31 December 2023 Flnanclal Revl•w The results for the charity for the financial year are detailed on pages 6 to 15. These financial statements cover the early stages of the restorion project mainly estsblishing the viabilty. pathway fotward and the commencement of raising the grant lunding iequired for the project. Publ1¢ 8•n•flt The trustees declare that they have due regards to the guidance on public benefit issues by the Charity Commission, all trustees have been provide<1 with the Charity Commission Guidance Notes on Public Benefit and it is the intention to review the guidance respect to our acts"vib"es at trustee meetings each January. Boume Town Hall was built on land donated by the Marquis of Exeter in 1821. The building provideil for Petty and Quarter Sessions plus a covered market for the inhabitants of Bourne. Lincolnshire. Since thi5 lime the building had remained a central point of 8oume untsl the Magistrates Court ceased operations in 2008 and the local council relocated its offices in 2014. Since that tsme, it had remained unoccupied and it was not seen as a cosl-effeclive use of Council funds especially during auslerity- The Iruslees and other volunteers conSer the building to be an important part of the town and of the Bourne community. The support of the Bourne people and other entth'es will enable them lo relum the building lo the local community and hopefully in perpetuity for the future. The resloralion project is expected lo lake a nsIderable time especially as the trLslee$ wsh lo restore the fabrie ol the original Georgian building vh)Ich has been hidden by modem additions. Once work ig completed then we hope lo have created an arts an¢J entertainment centre for the vA)ole Community. The building wll have ori9inal features bul will be flexible to match up to date expectations and requirements. It will not just be historic building it wll be a practtcal and vibrant structure. Achl•vem•nt and P•rfomianc• At the end of February 2023, the trust obtained 'Pemilsslon To Start, the l)ev•lopment Phase with the £318,344 grant awarded by the National Lottery Heritage Fund. This provided funding to engage all the professional services needed lo develop the plans lor the Capital Phase bid up to submitting planning and listed building consent permissions. The projecl'The Olt1 Town Hall". Arts in the Heart of Boume.. aims lo create a vibrant community hub open to all that celebrate the arts., serving and entertainin9 the people of Bourne, surrounding villages and visitors to the region. The professional services re tendered and induded.. • Architectural Services, to develop a flexible acce$5ible and sustainable design for the building.. • Actlvlty Consultant to compile a 3 year activity plan to run through the capital grant phase as well as to run pilot lesl events which were undertaken in the Summer of 2024". • Interpretatlon Consultant to plan how to interpret data mpld Ihrough the research a¢livf(ies in the plan and lo make this accessible lo all". Fundralslng Con$uftant to help Ihe trustees plan and submit grants for the match ftjnding element of the capital phase, • Consultant lo conduct a lull governance compliance review of the charty and its operation. Thi5 was made possible wrth the National Lottery Herrtage Fund Grant as well as additional match funding of £30,000 from the Architectural Heritage Fund. The trustees, Herrtage Lincolnshire and the consultants were all working towards a submission to the National Lottery Heritage fvnd Capital Phase bid being submitted by August 2024. Page 3
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST Annual Report (continued) for the year ended 31 December 2023 A¢hloYem•nt and Porf1)mian¢• Icontlnu¢d) During the year, the trust continued lo hold a wde variety of events for the local communty, this included popup cinema, live music evenings, poetry evenings, theatre perfomiances, artists open houses, historic talks, craft fairs and fund-raising events a Wellbeing Fair as well as bi-monthly quiz nights. All events were well attended, wth hugely positive feedback from the public. the volunteers and even the stallholders. A new link wth a local amateur dTamatsc group, Boume Footlights was formed in the year with murder mystery pieces being perfomied in February and December, this was extremely well received from both the cast and the attendees and has led lo subsequent theatre pieces being planned for future collaborions. The trust continued to support and promote local small businesses and artisans with the bi-annual Craft Fairs hosts'ng 24 small stsllholders, a Wellbeing Fair vthich building on the success of the previous year hosted 24 slallholders and 6 wrk-shops as well as the second Boume kn.sts Open Houses which showcased local artists in the main art exhibits.on al The Old TO Hall. In May, the trustees alongside some volunteers took part in Ihe Coronation Community Markot and Plcnl¢. having a sland with information on the full renovation project. our goals and aims and how people are able to gel involved as volunteers or attend luture events. This wa5 a fantastic event that allowed us to speak to a wder range of the cross section of the public, drawng in younger attendees with our flags to colour in. Llnk$ wlth tho local $¢hool$ were on¢e again Strengthened in the year, wth musical evening performances from one the local secondary sch¢)ol$ and one of Ihe local primary schools hosting their end of year musical performances being held in the Old Tovm Hall. The theme of the Herltoge Open Days in 2023 was The Arts of Lincolnshire- Creativity Unwrapped. Thanks lo 8 £1,500 grant oblaine<l from SKDC Levelling Up Fund the trust held an open day which was open lo all ages and abilities and incorporated a variety of art media through o serie5 of free pre booked workshops, artist demonsirations and dropin sesssons wth various local artists. Opening UP the building in grder for parti¢ipanl$ lo engage in differenl elements ol heritsge, art and Creativity that they may not ordinarily be exposed lo. Thi$ was a hugely successful day over 385 w$ilors and 90 pre-bookable free workshop spaces available, most workshops were fully booked. vth some places available on the day for a couple of the sessions. This was great exposure for lots of different visitors to Bourne Town Hall Trust, engaging them in the history of the building as well as the future project and plans lor the building. Additionally localpeople wern 8ng8g8d in trying new skills and hobbies that they may not have been able lo access olherwse due lo Cost prohibib.ons or even something they may not have considered. Verbal feedback on the day from several participants included that they had picked up a new skill that they would find extremely therapeutic and therefore there were good mental health benefits. Rlsk management The trustees have a duty to identify and review the risks to which the Charty is exposed and to ensure appropriate controls are in place lo provKle reasonable assurance against fraud and error. The principal risk towards the Charty is a lack of funding and in¢ome lo support Tvs slated aims. The Iruslees have considered this risk and believe that WTth carefvl managemenl they will be able to continue to fulfil the objectives of the Charity- Going concern Current reserves and onoing donations are sufficient to support the Trust at this time. Page 4
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST Annual Report (continued) for the year ended 31 December 2023 prOrtY - Boum• Town Hall The freehold property known as Boume Town Hall in Nth Street. Boume is cUrntlY held in trust by Lincolnshire County Council. The property will become a funcb.onal asset of the charity providing sufficient fund5 are secured to complete the renovation wvrk5. The charity had a five year rent free period vthich was exiended by a further five year lease to enable initial works to be carried out and funds to be arranged. R•soTV•S 11 is the long term policy of the chanty to aim to build sufficient reserves to meet 12 months base running costs of the building. The charity Iruslees are in the process of raising funds for the restoration work of the whole buitding. This IS expected to cost in the region of £3.Sm and take N¥0 to three years to complete. The Trustees regularty review the amount of reserves that are required to ensure that they are adequate lo fulfil the charity's continuing obligations. The carried forward unreslncled reserves as a131 De¢ember 2023 are £33,212, and the carried forward restricted reserves as at 31 December 2023 are £75,943. Fgr and on behalf of the board of trustees.. Mr C Hous8ago Chair of Trustees 18-10-24 Date.. . 2024 Page 5
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 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 2023, which are set out on pages 7 to 15. Responsibilities and basis of report As the charity's trustees you are responsible for the paration of the accounts in accordance wth the requirernenls of the charib.es Act 2011 I'the Act'i. 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 DiTecb"ons given by the Charity Commission under section 14515llbl of the Act. Ind•p•nd•nt •xamlnor's statsm•nt I have completed my examination. I confim that no material matters have come lo my attention in connection wlh the examination giving me cause to believe that in any material respect.. 1. accounting records were not kept in respect of the ¢harty as required by $e¢ty'on 130 of the A¢l', or 2. the accounts do not accord with those records.. or 3. the ac¢ounls do not Comply wlh the applicable reqU1MentS con¢eming the fom and conlenl of accounts sel out in the Charitie5 IAccounls and Reports) Regulations 2008 other than any requirement that the accounts give a'lrue and fair vievl vthich is not a matter wn$idered as part of an independent examination. I have no concerns and have come across no other matters in connection wlh the examination lo which attention should be drawn in this report in order lo enable a proper understsndin9 of the accounts lo be reached. K.J. Maggs B.A., F.C.A. Chartered Accountant Spalding 18-10-24 Dated.. . 2024 Page 6
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2023 2023 Note Unr•strlctsd R8strictsd 2022 Total Totsl INCOME AND ENDOWMENTS FROM: Charltable donatlon$ Grant incomo Fundwraising Charitable actlvitiey Invastmant incomè Bank interest 1.498 1.498 73,765 1,145 18,701 1.761 1,500 1,810 23,374 73,765 1.145 18.701 87 87 13 TOTAL INCOME 21,431 73.765 95,196 28,458 EXPENDITURE ON: Charitablo actlvitie¥ 20.828 1,665 22.493 32.187 Support costs Subscriptions Bank and car¢J charges Loan interest Legal and professional fees Accountsncy fees Independent examination 256 749 112 256 749 112 244 302 578 412 400 400 400 400 400 1.917 1,917 1,934 Ralslng funds Event costs Adve.$Ing and publicity 30 29 30 160 131 59 131 190 Totsl Support costs 1,976 131 2,107 1,937 TOTAL EXPENDITURE 22,804 1.796 24,600 34,124 NET IEXPENDITUREI I INCOME 11,3731 71.969 70,596 15,6661 Transfers between funds 1311 31 NET MOVEMENT IN FUNDS 72.000 70,598 15,6661 Reconciliation of fund5: 8roughl forward Carried forward 34.616 3.943 38.559 44.225 33,212 75,943 109,155 38,559 The notes on pages 9 to 15 fom? part ofthese accounts Page 7
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST BALANCE SHEET At 31 December 2023 2023 2022 Molo FIXED ASSETS Tangible assets Heritsge assets 9.096 50.778 22,777 59.874 22,777 CURRENT ASSETS Stock 696 824 Dobtors Other debtors Taxes and social security Prepayments 150 5,525 150 450 5,675 600 Bank and cash In hand CAF Bank CAF Bank- Grants Cash in hand 18,279 57.010 150 16,154 130 75,439 16,284 Current Assets 81,810 17,708 CREDITORS.. Amounts falllng due wSthSn one ygar Loans and overdrafts Trade creditors Accruals 15,000 14.877 2.652 456 1.470 32,529 1,926 NET CURRENT ASSETS 49,281 15,782 TOTAL ASSETS LESS LIABILITIES 109,155 38,559 CHARITY FUNDS Reslricled funds Unreslricled funds 75.943 33.212 3,943 34,616 38.559 109,155 18-10-24 The financial statements on pages 6 to 13 were approved by the Trustees on ................................................ 2024 and signed on their behalf by.. Mr C Houseago Chair of Trustees K Lloyd Treasurer The notes on pages 9 fo 15 form part ofthese accounts Page 8
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023 1. Accounting Policies The si9nifi¢ant a¢¢ounling policies applied in the pparatIOn of these financial statements are sel out below. These policies have been consistently applied to all year5 psented unless otherwse staled. lal Basis of prgparation of financial statwnents The chanty constrtules a public benefit entty a5 defined by FRS 102. The financial statements have been prepared in accordance wth Accounting and Reporting by Charities.. Statement of Recommended Pracbce applicable to charities preparing their accounts in accordance rith the Financial Reporting Stsndard appIable in the UK and Republic of Iland issued in October 2019. the Financial Reporting Standard applicable in the Unrted Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concem basis under the historical c05t convention, modified to include certain items at fair value. The financial statements are presented in sterfing vthich is the fun¢lional curren¢y of Ihe Charity. Ibl Funds Unrestricted funds are available for use al the discretion of the Trustees in furtherance of the general objecb'ves of the Chanty and which have not been designated for other purposes. Designated funds comprise unrestricted ftjnds that have teen sel aside by the trustees for particular purposes. Restricted funds are funds vthich are to be used in accordance wth specific restrictions irnposed by donors or which have been raise¢J by the Charity for particular purposes. The cost of raising and administering such funds are charge(l against the specffic fund. The aim and use of each restricted fund is Set out in the notes lo the financial statements. cl In¢om• re¢ognltlon All incoming resources afe included in the Statement of Financial Aclivitses ISOFAI when the Charity is legally entitled lo the income after any perfomiance conditions have been met, the amount can be measured reliably and il is probable that the Income will be received. Income from trading activth'es includes income earned from lundraising evenl$ and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order lo raise lunds and Is recognised. nel ol any Value Added Tax when enlillemenl 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 eslablished. No amount is included in the financial stslements for volunteer lime in line with the SORP IFRS 1021. Donated facilities and donated professional seN¢es are recognised in in¢ome at their fair value when their economic benefit is probable. il can be MeaSud lIablY and the charity has control over the item. Fair value is detemined on the basis of the value of the gift lo the ¢harty. For example the amount the charity would be willing lo pay in the open market for such faCil.eS and services. A corresponding amount is recognised in expenditure. Where practicable. gtfts in kind donatffll for distn"bution to the beneficiaries of the charity are included in stock and donations in the financial stslements upon receipt. If il is impracb"cable lo assess the fair value al receipt or If the costs to undertake such a valuation ouhveigh 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. Idl Expenditure recognition Expenditure is accounted for of applicable Value Added Tax on an accruals basis and has been classified under headings that aggregate all costs related to the category. Charitsble a¢tivrties expenditu include all resources applie(I by the Charity in undertaking ils charrtable objectsves a5 OPP05ed lo support costs. Page 9
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2023 1. Accounting Polici8s Icontinu8dl Idl Expenditure recognition Icontinuedl Support costs are those that assist the %rk of the Charty bul do not direcuy represent charitable activities and include office costs and governance costs. Fund-raising costs are those incurred in seeking voluntsry contributions and do not include the costs of disseminating Information in 511PPOrt of the charrtable aclivthes. Irrecoverable Value Added Tax is charged as an expense against the actiwty for which expenditure arose. lol Debtors and creditors receivablelpayable 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 impaimient are recognised in expenditure. lfj Tangible fixed assets Tangible fixed assets are stsled al cost or valuation less accumulated depreciation and aecumulaled impairment losses. Depreci*ion is provided on all tangible fixed assets. al rates calculated to write off the cost. less eslimaled residual value. of each asset on a syslematic basis over its expected useful life as follows. Computer equipment 3 years straight line Office equipment 5 years Straight line Furniture 3 years straight line Leaseheld property improvements S years straight line Igl H¢rltay ass¢t• It is the policy of the Trust not lo capitalise herilage assets belonging lo the Trust, where a reliable estimate cannot be made of the asset's fair value or the information on cost or value is not available and whi¢h cannot be obtained at a ¢osl which is commensurate with the benefits Its the users ol the linancial slatemenls. These are in effect inalienable. held in perpetuity, and are mostly irreplaceable. Any financially based valuation would be misleading to the value and significance of the material culture involved. The Tru$l has a clear duty of Ca for these as$els and lo make them available for the enjoyment and education of the public as far as is possible. commensurate with their long-lerm Care and preservation. The highest possible standards of collection management are applied, and the even15 are made available as wdely as possible to facilitate all enquiries and requests for information, subject lo appropriate security and data protection guidelines. The Trust does not currently ovffl the propety vthich is owned by Lincolnshire County Council. The Trust had a three year rent free period which extended by Iwo years. i.e. 2025. Ihl Golng Conc8rn The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertaintses exist. The Truslees have considered the level of funds held and the expected level of income and expendilure for 12 months from authorising these financial statements, which is sufficient with the level of ServeS of the Charity lo be able to continue as a going concern. 2. Grnnts r8c•lvablo 2023 2022 Archileclural Herrt8ge Fund Heritage Lottery Fund South Kesleven District Council Localgiving Ltd Lincolnshire County Council 30,000 42,265 1,500 500 1,000 73,765 1,500 Page 10
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2023 3. Charitsble activities - income 2023 Unrostrictod Rostrict 2022 Total Total Event Ticket Sales Bar sales 9,676 8.639 200 144 9,676 8,639 200 144 11,874 10,474 500 79 Hall Hire income Art l Merchandise ¢ommi$sion Merchandise sales 42 42 447 18.701 18.701 23.374 4. Charftablè *¢tlvltl•s - èxpendltur• 2023 Unrnstrlct•d Restrict 2022 Total Total Bar stock Entertainment and workshops ArOrk and merchandise costs Ticketing costs and fee5 Llcences and subscripliong Rent and rates Cleaning costs and waste disposal Telephone and communications Computer running costs Repairs and maintenance Printing, postage and stabonary Small equipment Training costs Light and heat Legal and professional fees Insurance Sundry expenses Depreciation Loss on disposal of tangible fixed assels 3,797 4.040 3,797 5,429 4,467 6,068 534 818 429 306 82 391 183 1,050 249 274 144 2,862 4,805 444 87 8,994 1,389 207 269 59 393 329 145 247 294 554 2.751 399 323 207 269 59 393 329 145 247 294 554 3,027 399 323 126 6,812 83 276 6.812 83 20,828 1,665 22,493 32,187 Page 11
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2023 5. Fixed assets Leasehold property Computer improvements equipment Fumiture, fixtures and equipment Total Cost Brought foN48rd Additions Disposals Carried forward 15.670 12.6121 2,731 11601 26,273 13.9641 {1601 22,149 44,674 16.7361 11601 37,778 13.058 2,571 D•proclatlon Brought forward Charge Eliminated on disposal Carried forward 9.690 2,228 2,387 9.820 4,585 1271 14,378 21.897 6,812 1271 28.682 11.918 2,386 Net book valu8 Al 31 December 2023 1.140 1BS 7.771 9.096 Al 31 December 2022 5,980 344 16.453 22,777 The charity registered for Value Added Taxation from 1 January 2023. As a result, from that dale, the charity was able to reclaim VAT which rt had been unable to claim previously on it's tangible fixed assets. Additions have been reduce(I by Ihis VAT now claimed. 8. H•rftag8 ass•ts Development of property Herftsge Totsl Cost Additions 50,778 50,778 50,778 50,778 Carried forvard Net book value At 31 December 2023 50,778 50,778 Al 31 December 2022 The Heritsge assets is currenuy owned by Lincolnshire County Council and leased lo Boume Town hall Trust. 7. Trust88s R•munoration. Expenses and Control There were no remuneration or expenses paid to the Trustees during the period. The Charity is controlled by the Twslees as a body. No indmdual Twstee has control over the Charity. Rolatsd Party Trnnsactions There are no related party transath.ons during the period. Page 12
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2023 9. Restricted funds At 111123 In¢omo 0gOIng Transfers At 31112123 Restoration proje Heritage day Utilities fund 3,678 72.265 1.500 75,943 (1,5201 12761 20 265 Reslricled funds 3.943 73.765 (1,7961 31 75.943 Unrestricted funds 34.616 21.431 {22,8041 124,6001 1311 33.212 38.559 95.196 109.155 Transf8rs When reslricled fijnds have been used for the Purpose for which they were granted to create an asset and the restriction no longer applies then the fvnds are transferred into unrestricted or endowment funds depending upon the staled requirements or purw)se of the asset ¥there applicable. It is a common occurrence that the funds are used for the specific purpose but the donated funds will frequentty be less than the total at they lime the cost 1$ incurred. In these ca$e$ unreslri¢led funds are used lo cover the deficit. These funds are represented by.. Flx•d Cun•nt Curr•nt Total Restoration project Heritage day Reslricled funds 50.778 26,165 40 11.0001 1401 11.0401 75,943 50.778 26,20S 75.943 Unrestrided funds 9.096 55,605 131,4891 132.5291 33.212 59,874 81,810 109,155 These funds in the c¢)mparabve year *tre represented by.. Flxed assots Currnnt assats Current Ilabilltlgs 2022 Totsl Resloralion project Jazz Workshop Utilities fund 3,678 454 265 3,678 {4541 265 Restricted funds 4,397 14541 11.4721 1,926 3,943 Unrestricted funds 22,777 13,311 34,616 22,777 17,708 38,559 Page 13
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2023 10. Rostri¢tèd lund$- Fund descriptions Restoration projact The Restoration project relates to all the funds received by the charity for the purpose of the restoration of the Bourne Tovm Hall and bring rt back into public use as a pivotable part of the local community. Jazz Workshop The Jazz Workshop fvnd relates to a grant received from Invest SK Limited for the provision of a Jazz band and music workshop, unfortunately this was postponed due to the COVID-19 lockdown restrictions. This vrd5 run during the year ended 31 December 2022. Heritag8 day The Hentage day fund relates to funds ceiVed by the chanty for the purpose of providing free workshops during the National Heritage Open Day evenl. funds were spent during the year and the ex¢ess has been covered by general fvnds. Utiliti•s fund The Ub'lf(ies Fund relates lo a Localgiving 'MIted Grant vthich was awarded lo assist in the meeting of ulililies Costs due lo the increases being experienced and the wsh lo provide wamith and comfort. 10. Flnanclal Commitment The charity has a rent free agreement with Lincolnshire County Council for a period of three years with a option to extend to five years. Due to the historic nature and condition of the buildin9 11 has not been possible lo estimate a market rent and as such the gift in kind has not been included in the Statement of Financial Acts'vities. Page 14
Docusign Envelope ID.. A9E7EDA>DCAW9E-AB77-20DOC2WE4 BOURNE TOWN HALL TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2023 11. Comparativès STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM: Charitable donations Grant income Fund-raising Charltablg a¢vIll Investment incomè 1,761 1,000 1,810 23.374 1,761 1,500 1.810 23.374 13 500 TOTAL INCOME 27,958 500 28.458 EXPENDITURE ON: Ral$ing funds Event costs Charitablo acVItie Bar stock Entertainment Arwrk and merchandise costs Tickeb'ng costs and fees Licences and subsuiptions Rent and rates Cleaning costs and waste disposal Telephone and communication$ Computer running $ts Repairs and maintenance Printing, posla9e and stationary Small equipment Training costs Light and heat Legal antj profe$$i¢)nal fees Insurance Sundry expenses Depreciation Support costs Subscripts'ons Bank charges Legal and professional fees Accountancy fees Independent examinatson TOTAL EXPENDITURE 4,457 4,830 $34 B18 429 306 82 391 183 1,050 249 229 144 2,627 35 444 87 8.994 4,467 6,068 534 818 429 306 82 391 183 1.050 249 274 144 2,862 4,805 1.238 45 235 4,770 87 8,994 244 302 576 412 400 244 302 576 412 400 27,826 6,298 34,124 NET INCOME I IEXPENDITUREI 132 5.798 5.666 Page 15