## **REGISTERED COMPANY NUMBER: CE015172 (England and Wales) REGISTERED CHARITY NUMBER: 1179995**
**Report of the Trustees and**
## **Unaudited Financial Statements**
**for the Year Ended 31 December 2021**
## **for**
**New Quay Memorial Hall**
Ashmole & Co Manchester House Grosvenor Hill Cardigan Ceredigion SA43 1HY
## **New Quay Memorial Hall**
## **Contents of the Financial Statements for the Year Ended 31 December 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**|6|to|7|
|**Notes to the Financial Statements**|8|to|12|
|**Detailed Statement of Financial Activities**||13||
## **New Quay Memorial Hall**
## **Report of the Trustees for the Year Ended 31 December 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Our objectives and aims are to provide and maintain a community hall for the benefit of the area in and surrounding New Quay, Ceredigion, without distinction of political, religious or other opinions, including the use of the facilities for meetings, classes, markets and for other forms of recreational and leisure time activities.
## **Significant activities**
The charity was formed in September 2018 when the activities, assets and liabilities of the previous "War Memorial Hall" charity 503653, were transferred and a new lease granted by the Ceredigion County Council to the new committee to re- organise and provide services to local inhabitants.
Major renovations following a grant from the Welsh Government CFP were carried out during the Covid 19 lockdown in 2020.
## **Public benefit**
The trustees have had regards to the guidance issued by the Charity Commission on public benefit and are satisfied that its activities meet those requirements.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
Lockdown restrictions, social distancing and restricted numbers in rooms prevented full use of the newly refurbished hall facilities and there was a gradual re opening of smaller meetings, events and sports activities throughout 2021.
An official re opening weekend was held October 30th and 31st 2021, with Ben Lake MP cutting the ribbon. This was held in conjunction with the Rural Futures 'Story Studio' organisation of Severn Wye, who are currently advising the management committee on ways to increase the use of the hall and creating a wider outreach into the community.
The New Quay Library run by volunteers, moved into room 3 of the Memorial Hall in October 2021 when the original library in New Quay was closed down.
The Community Market continued to be closed throughout 2021 due to social distancing and WG guidance.
## **Fundraising activities**
The main hall, ground floor rooms, library and council room are used for rentals and a snooker club.
There is a Weekly Friday Community Market with cafe.
Other income will be raised from weekend special events, solar panel income, other fundraising and donations.
(Restricted facilities available in 2021)
## **FINANCIAL REVIEW**
## **Principal funding sources**
A major grant was awarded by the Welsh Government CFP of £223,253 in 2019 to cover the cost of most of the hall renovation.
Page 1
## **New Quay Memorial Hall**
## **Report of the Trustees for the Year Ended 31 December 2021**
## **FINANCIAL REVIEW**
## **Reserves policy**
The charity's policy is to maintain reserves of at least £15,000 allowing for two years of repairs of the building to be funded assuming that income is only sufficient to cover regular expenditure plus one year of routine expenditure without any income. Any reserves held above this level are to be build up to allow additional equipment and facilities to be provided for the community. Free reserves at 31st December 2021 were £93,973 of which £32,337 were in Fixed Assets.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Recruitment and appointment of new trustees**
Trustees are appointed by recommendation of other trustees or by putting themselves forward for consideration. There is no active recruitment procedures in place.
## **Organisational structure**
New business plan to be arranged following lockdown restrictions and procedures.
## **Induction and training of new trustees**
'Cwmpas' training to be arranged for all existing and any newly appointed Trustees.
## **Related parties**
Rural Futures and CAVO currently advising for future development 2020/2021 pending a grant application to the National Lottery in 2022.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
CE015172 (England and Wales)
## **Registered Charity number**
1179995
## **Registered office**
Nant Y Gido Maenygroes NEW QUAY Ceredigion SA45 9TR
## **Trustees**
Dr J R Evans J Barrett G Legg Mrs M Attrill
Page 2
## **New Quay Memorial Hall**
## **Report of the Trustees for the Year Ended 31 December 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner**
Ashmole & Co Manchester House Grosvenor Hill Cardigan Ceredigion SA43 1HY
Approved by order of the board of trustees on 5 September 2022 and signed on its behalf by:
Dr J R Evans - Trustee
Page 3
## **Independent Examiner's Report to the Trustees of New Quay Memorial Hall**
## **Independent examiner's report to the trustees of New Quay Memorial Hall ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
K R Wilcox F.C.C.A. Ashmole & Co Manchester House Grosvenor Hill Cardigan Ceredigion SA43 1HY
Date: .............................................
Page 4
## **New Quay Memorial Hall**
## **Statement of Financial Activities for the Year Ended 31 December 2021**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
35,711
Other trading activities
2
438
**Total**
36,149
**EXPENDITURE ON**
**Charitable activities**
Memorial Hall
3,006
**NET INCOME**
33,143
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
60,830
**TOTAL FUNDS CARRIED FORWARD**
93,973|31.12.21
31.12.20
Restricted
Total
Total
fund
funds
funds
£
£
£
-
35,711
256,619
-
438
157
-
36,149
256,776
-
3,006
961
-
33,143
255,815
223,253
284,083
28,268
223,253
317,226
284,083|
|---|---|
The notes form part of these financial statements
Page 5
## **New Quay Memorial Hall**
## **Balance Sheet 31 December 2021**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
5
32,337
**CURRENT ASSETS**
Debtors
6
161
Cash at bank
62,075
62,236
**NET CURRENT ASSETS**
62,236
**TOTAL ASSETS LESS CURRENT LIABILITIES**
94,573
**CREDITORS**
Amounts falling due after more than one year
7
(600)
**NET ASSETS**
93,973
**FUNDS**
8
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|31.12.21
31.12.20
Restricted
Total
Total
fund
funds
funds
£
£
£
223,253
255,590
228,237
-
161
6,288
-
62,075
49,858
-
62,236
56,146
-
62,236
56,146
223,253
317,826
284,383
-
(600)
(300)
223,253
317,226
284,083
93,973
60,830
223,253
223,253
317,226
284,083|
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 6
## **New Quay Memorial Hall**
## **Balance Sheet - continued 31 December 2021**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 5 September 2022 and were signed on its behalf by:
J R Evans - Trustee
The notes form part of these financial statements
Page 7
## **New Quay Memorial Hall**
## **Notes to the Financial Statements for the Year Ended 31 December 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 8
## **New Quay Memorial Hall**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **2. OTHER TRADING ACTIVITIES**
|**OTHER TRADING ACTIVITIES**|||
|---|---|---|
||31.12.21|31.12.20|
||£|£|
|Hall rental|438|157|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
Restricted
fund
fund
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
33,366
223,253
Other trading activities
157
-
**Total**
33,523
223,253
**EXPENDITURE ON**
**Charitable activities**
Memorial Hall
961
-
**NET INCOME**
32,562
223,253
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
28,268
-
**TOTAL FUNDS CARRIED FORWARD**
60,830
223,253|Total
funds
£
256,619
157
256,776
961
255,815
28,268
284,083|
|---|---|
continued...
Page 9
## **New Quay Memorial Hall**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **5. TANGIBLE FIXED ASSETS**
|**5.**|**TANGIBLE FIXED ASSETS**||||
|---|---|---|---|---|
|||||Long|
|||||leasehold|
|||||£|
||**COST**||||
||At 1 January 2021|||228,237|
||Additions|||27,353|
||At 31 December 2021|||255,590|
||**NET BOOK VALUE**||||
||At 31 December 2021|||255,590|
||At 31 December 2020|||228,237|
|**6.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
||VAT||31.12.21
£
161|31.12.20
£
6,288|
|**7.**|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN**|**ONE YEAR**|||
||Accruals and deferred income||31.12.21
£
600|31.12.20
£
300|
|**8.**|**MOVEMENT IN FUNDS**||||
||**Unrestricted funds**|At 1.1.21
£|Net
movement
in funds
£|At
31.12.21
£|
||General fund|60,830|33,143|93,973|
||**Restricted funds**||||
||Restricted|223,253|-|223,253|
||**TOTAL FUNDS**|284,083|33,143|317,226|
||||||
continued...
Page 10
## **New Quay Memorial Hall**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **8. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Restricted
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted
**TOTAL FUNDS**|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
36,149
(3,006)
33,143
36,149
(3,006)
33,143
Net
movement
At
At 1.1.20
in funds
31.12.20
£
£
£
28,268
32,562
60,830
-
223,253
223,253
28,268
255,815
284,083
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
33,523
(961)
32,562
223,253
-
223,253
256,776
(961)
255,815|
|---|---|
continued...
Page 11
## **New Quay Memorial Hall**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **8. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
||Net||
|---|---|---|
||movement|At|
||At 1.1.20
in funds|31.12.21|
||£
£|£|
|**Unrestricted funds**|||
|General fund|28,268
65,705|93,973|
|**Restricted funds**|||
|Restricted|-
223,253|223,253|
|**TOTAL FUNDS**|28,268
288,958|317,226|
|A current year 12 months and prior year 12 months|combined net movement in funds, included in the above are as follows:||
|**Unrestricted funds**|Incoming
Resources
resources
expended
£
£|Movement
in funds
£|
|General fund|69,672
(3,967)|65,705|
|**Restricted funds**|||
|Restricted|223,253
-|223,253|
|**TOTAL FUNDS**|292,925
(3,967)|288,958|
## **9. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2021.
Page 12
## **New Quay Memorial Hall**
||**Detailed Statement of Financial Activities**|||
|---|---|---|---|
||**for the Year Ended 31 December 2021**|||
|||31.12.21|31.12.20|
|||£|£|
|**INCOME AND ENDOWMENTS**||||
|**Donations and legacies**||||
|Donations||2,339|23,366|
|Grants||11,779|233,253|
|Solar panel income||410|-|
|Snooker income||21,183|-|
|**Other trading activities**||35,711|256,619|
|Hall rental||438|157|
|**Total incoming resources**||36,149|256,776|
|**EXPENDITURE**||||
|**Charitable activities**||||
|Insurance||1,597|53|
|Light and heat||233|162|
|Telephone||427|406|
|Sundries||29|-|
|Hall maintenance||420|-|
|**Support costs**||2,706|621|
|**Governance costs**||||
|Accountancy and legal fees||300|340|
|Total resources expended||3,006|961|
|**Net income**||33,143|255,815|
|||||
This page does not form part of the statutory financial statements
Page 13