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2022-03-31-accounts

Registered Charity No: 1176413

REPORT AND FINANCIAL STATEMENTS

12 MONTHS ENDED 31 MARCH 2022

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Addresses:

Nether Stowey Village Hall Lime Street Nether Stowey Bridgwater Somerset TA5 1NH

Nether Stowey Recreation Ground Barn Close Nether Stowey Bridgwater Somerset TA5 1PA

Address for Correspondence: 2A Castle Street Nether Stowey Bridgwater Somerset TA5 1LN

Registered Charity No: 1176413

Bankers:

Lloyds Bank Plc.

Trustees 1/4/2020 – 31/3/2021:

Trustees 1/4/2021 – 31/3/2022:

Mark Cooke Mark Cooke Jane Erskine Jane Erskine Simon Freeman (Chair) Simon Freeman (Chair) Andrew Jeanes Mark Howells Eleanor Jones Andrew Jeanes Sharon Mayell (Treasurer) Eleanor Jones Jo Scoins Sharon Mayell (Treasurer) Jo Davison (Scoins)

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TRUSTEE REPORT FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements of the charity for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and the Charities Statement of Recommended Practice (second edition) and Financial Reporting standard FRS 102.

Objectives and activities for the public benefit

The purposes of the charity are the provision and maintenance of a community centre, sports field and recreation ground for the use of the inhabitants of the Area of Benefit (Nether Stowey and the surrounding areas) without distinction of political, religious or other opinions, race or gender including use for:

The charity carries out these activities through informal relationships with and support from Nether Stowey Parish Council, Stowey Green Spaces Group and regular users of the facilities, in particular Nether Stowey Football Club.

A review of our achievements and performance

The sports field and recreation ground continue to be well-maintained, through over 100 hours of volunteer time (mainly Kev Hellier with weekly checks of the field and maintenance of the 3G court) as well as pitch cuts and grass cutting of the children’s play area, boundary strimming and tree maintenance by a number of local contractors. Our attention has now turned to the condition of the football pitches, and we are working in consultation with the Football Foundation (FF). New roll-on, roll-off goals have been purchased using a FF grant to help re-configure the pitches and prevent additional wear. Income continues to be received mainly from the mobile phone mast lease as well as hire of the MUGA & field by Nether Stowey Football

The new website is now up and running and being updated on a regular basis.

The trustees continue to focus on delivery of the new Stowey Centre project to build a community centre on the edge of the recreation ground. A planning application was submitted in December 2021, with a £10,000 grant from the Fairfield Charitable Trust and it was anticipated that planning would be granted by the end of the summer 2022. With this in mind (also see Risk Management) the trustees decided to close the existing Village Hall at the end of the financial year (31/3/2022) to allow time to de-commission it. The three existing weekly users found alternative venues close by.

Financial review

All costs closely monitored. Nether Stowey Football club pays a monthly fee for using the portacabin and shower hut on the recreation ground which is reviewed annually to check it covers electric, water and cleaning costs as a minimum. They also pay an annual fee to hire the MUGA. Income is received from a mobile phone mast. Regular fund fund-raising such as Party in The Park and our new annual Dog Show help cover operational costs and our monthly 50:50 Lottery supports the costs of the new Centre. Bank account balances (Appendix 1) are held in line with our reserves policy and have increased by £4,955.73.

Risk Management

The MUGA, Skate ramp and children’s play area are subject to an SPFA annual inspection which is reviewed and acted upon by the playing field committee. This is supported by weekly volunteer checks. The trees are checked on an annual basis by a local contractor. The stream is cleared annually to prevent flooding.

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The village hall was losing money prior to closure due to reduced usage by hirers as the premises were considered to be too cold for some meetings, out of date for others (not having access to WiFi) and with access issues (steep slope and minimal parking). The back room was not available for hire, due to years with a leaky roof making the ceiling unsafe. The cost of the electric night storage heaters was increasing significantly and the cost of repairs was making the running of the hall unviable. The new Stowey Centre will be built and run as cost effectively as possible, utilizing new, greener energy and attracting a range of regular users.

Reserves Policy

To help fund the eventual replacement of the 3G MUGA court, it was agreed by the Recreation Ground subcommittee on 28/4/2021 that 30% of the MUGA hirer’s income for each year will be transferred to the charity’s savings account. (£2,978 x 30% = £893.40, therefore £900 has been transferred.)

We aim to keep a minimum balance equivalent to 12 months’ operating expenses in the main bank account. Surplus funds are transferred to the savings account to ensure the charity benefits from any bank interest.

Plans for the future

A closer working relationship with Nether Stowey Football Club means that the FF will support the maintenance of the pitches through grant funding. They are also keen to support the building of the new Centre as it will comply with FA standards for changing rooms.

The Stowey Centre Project continues to be the focus for the trustees as it is expected that we shall be able to start construction within the next financial year.

Structure, governance and management

The Charitable Incorporated Organisation (CIO) has 7 trustees some of whom are focused solely on the project and others who also take an active role in management of the facilities. The charity has approximately 150 members who are invited to join committees, nominate and elect trustees at the AGM and have a say in how the facilities are managed and developed. The governing document is the constitution dated 21/12/2017. The day-to-day management is undertaken by a committee comprising of 3 trustees and a number of volunteers who are representative of the users of the facilities.

Trustees’ responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a Trustees’ Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales require the charity trustees to prepare financial statements for each 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 the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the application Charities (Accounts and Reports) Regulations, and the

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provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

Approved by the trustees on 30 January 2023 signed on their behalf by:

S FREEMAN CHAIR of TRUSTEES

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INDEPENDENT EXAMINERS REPORT

I have examined these accounts and the books of account, vouchers etc. produced to me. I certify these accounts to be in accordance therewith.

Signed: W. Williams 09.01.23

NETHER STOWEY VILLAGE HALL AND RECREATION GROUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 MARCH 2022

Note Unrestricted
Funds		 Restricted
Funds		 Total Funds
2022		 Total Funds
2021
Income 2.
Hire fees £7,543.15 £7,543.15
Mast Lease £5,500.00 £5,500.00
Grants £24,648.00 £24,648.00
Donations £90.00 £90.00
Fundraising £2,648.61 £2,648.61
Total income £15,781.76 £24,648.00 £40,429.76 £33,054.64
Expenditure 3.
Operatingcosts £1,631.13 £11,097.00
Other costs £8,010.05 £10,000.00
Total expenditure £9,641.18 £21,097.00 £30,738.18 £22,101.35
Net
income/(expenditure)		 £6,140.58 £3,551.00 £9,691.58 £10,953.29
Reconciliation of
Funds		 £4,955.73 £4,955.73 £10,953.29
Total Funds brought
forward		 £35,085.72 £35,085.72 £24,132.43
Total funds carried
forward		 £40,041.45 £40,041.45 £35,085.72

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NETHER STOWEY VILLAGE HALL AND RECREATION GROUND BALANCE SHEET AS AT 31 MARCH 2022

Note Unrestricted
Funds		 Restricted
Funds		 Total Funds
2022		 Prior Year
2021
Fixed assets 4.
Tangible assets £322,199.36 £322,199.36 £345,280.81
Total fixed assets £326,461.36 £326,461.36 £345,280.81
Current assets
Cash at bank and in
hand		 £15,393.45 £24,648.00 £40,041.45
Total current assets £15,393.45 £24,648.00 £40,041.45 £35,085.72
Liabilities:
Creditors falling due
within oneyear		 - - - -
Net current assets £15,393.45 £24,648.00 £40,041.45 £35,085.72
Total assets less
current liabilities		 £341,854.81 £24,648.00 £366,502.81 £380,366.53
Creditors: Amounts
falling due after more
than one year.
Provisions for
liabilities and charges		 - - - -
Net assets £341,854.81 £24,648.00 £366,502.81 £380,366.53
Represented by:
Accumulated Assets
as at 1/4/2022		 £336,899.08 £24,648.00 £357,285.08
Net Surplus for 12
months		 £4,955.73 £4,955.73
Total charity value £341,854.81 £24,648.00 £366,502.81 £380,366.53

The notes below form part of these accounts.

Approved by the trustees on 30 January 2023 and signed on their behalf by:

S FREEMAN CHAIR of TRUSTEES

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NETHER STOWEY VILLAGE HALL AND RECREATION GROUND STATEMENT OF CASH FLOWS FOR THE YEAR ENDING 31 MARCH 2022

Total Funds 2022 Prior Year 2021
Net cash used in operating activities £9,691.58 £10,953.29
Cashflowsfrom investing activities:
Interest 0.00 0.00
Purchase of furniture and equipment £4,735.85 0.00
Proceeds from sale of investments 0.00 0.00
Net cashprovided by investing activities £4,955.73 £10,953.29
Cashflowsfromfinancing activities:
Repayment of borrowing 0.00 0.00
Net cashprovided by financing activities
Change in cash at bank and in hand in theyear
Increase in cash at bank £4,955.73
Cash at bank and in hand brought forward £35,085.72
Cash at bank and in hand carried forward £40,041.45 £35,085.72

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Notes to the Accounts

1. Accounting Policies

The counts (financial statements) have been prepared under the historical cost convention with items being recognized at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The trustees consider there are no material uncertainties about the Trust’s ability to continue as a going concern.

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

2. Funds structure

Restricted funds are those which are to be used in accordance with specific restrictions imposed upon them by the donor. During the year ended 31/3/2022 the following grants were received:

Unrestricted income funds are those which the trustees are free to use for any purpose in furtherance of the charitable objectives. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose. The following donations were received:

Fundraising income was from:

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally on notification of the interest paid by the bank.

3. Expenditure recognition

All expenditure is paid against an invoice or reimbursed to an individual against a receipt confirming prior payment. Operating costs - See Appendix 2. Other costs were:

The charity is not VAT registered and irrecoverable VAT is charged against the expenditure heading for which it was incurred.

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4. Tangible fixed assets and depreciation

Fixtures and fittings and equipment for the village hall are currently depreciated at 25% per annum on a reducing balance basis. (See Appendix 3)

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Appendix 1

Bank Account Balances

At 1 April 2021

RG Regeneration Current Account (Stowey centre) £1,118.24 RG Regeneration Reserve Account £367.75 NSRG 50:50 Lottery (PFR Club) £1,002.50 NSVH & RG Current Account £32,597.23 Total Balances as 1 April 2021

£35,085.72

At 31 March 2022

RG Regeneration Current Account (Stowey centre) £2,585.74 RG Regeneration Reserve Account £367.75 NSRG 50:50 Lottery (PFR Club) £1,044.50 NSVH & RG Current Account £36,043.46 Total Balances as 31 March 2022

Current Assets - Bank Reconciliation

Opening Balances at 1 April 2021 Add Income Less Revenue Expenditure Less Capital Expenditure Total at 31 March 2022

Signed: W. Williams

S. Mayell - Treasurer

£40,041.45

£

35,085.72 40,429.76 30,738.18 4,735.85 40,041.45

Date: 09.01.23

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Appendix 2 - Operating costs for the year ended 31/3/2022

£
Maintenance 457.31
VH cleaning 672.48
VH electric 2268.93
VH water 413.59
VH Music licence 104.81
MUGA maintenance 286.33
Pitch cut 1290.00
Electric - shower hut 456.83
Electric - portacabin 142.11
Water - shower hut 50.83
Water - portacabin 60.00
Play area cut 1930.00
CCTV maintenance 147.67
Field maintenance 1044.31
RG cleaning 220.00
VH garden maintenance 182.00
Website 1041.50
SPFA subs 15.00
VH Fire extinguisher check 138.00
Insurance 1458.88
Buildings maintenance 108.50
Skate ramp maintenance 29.05
SPFA inspection 140.00
VH licence 70.00
Total operating costs 12728.13

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Appendix 3

CAPITAL ACCOUNT (BALANCE SHEET calculations)

(25% of total
F&F)
1/4/21
 Additions Depreciation 31-Mar-22
£ £ £ £
Fixed Assets
Freehold Land & Buildings (1) 285,355.00 285,355.00
MUGA courts (2013) 32,400.00 -16,200.00 16,200.00
Children’s play area (2015) 21,600.00 -5,400.00 16,200.00
Fixtures & Fittings (2) 5,925.81 -1,481.45 4,444.36
Football goals 0.00
 +4,735.85 -473.85 4,262.00
Total Fixed Assets 345,280.81 326,461.36
Current Assets
Combined Current Accounts 34,717.97 39,673.70
Reserve Accounts 367.75 367.75
Total Current Assets 35,085.72 40,041.45
Total Assets 380,366.53 366,502.81
Represented By
Accumulated Assets at 1 April 2021 380,366.53
-23,555.30
depreciation
+4,735.85
Net Surplus for 12 months +4,955.73
Total Assets at 31 March 2022 366,502.81

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