OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-12-31-accounts

Minchinhampton Market House CIO

Report and Financial Statements For the Period Ended 31 December 2020

Charity Number 1180035

(Successor to

Minchinhampton Market House Management Committee

Charity Number 207308)

Minchinhampton Market House

Reference and Administrative Information

Charity name: Minchinhampton Market House CIO Minchinhampton Market House CIO
Charity registration number: 1180035
Address The Market House
Market Square
Minchinhampton,
Gloucestershire
GL6 9BW
Trustees
Elected Trustees
Mrs J Payne Chairman (Resigned 6 March 2021)
Mr J Hodges Chairman (Appointed 6 March 2021)
Mr R Bryan Treasurer
Mrs N Bryan Secretary
Mr T Mowat
Co-opted Trustees
Mrs J Garling (Resigned 15 July 2020)
Mr P Hale
Mr A Herbert
Mr J Hodges (Until 6 March 2021 – then elected Chairman)
Mr J May (Appointed 18 August 2020)
Mrs L Rozee (Appointed 18 August 2020)
Mr D Thackray
Nominated Trustees
Mr P Callaghan- Wright Minchinhampton Parish Council (Deceased 20 March 2020)
Mr H Kearsey Minchinhampton Local History Group (Deceased 23 July 2020)
Mr N Phillips Minchinhampton Market (Appointed 1 July 2019)
Mr A Vaughan Minchinhampton Players (Appointed 1 July 2019)
Mr J Waddington Minchinhampton Parish Council (Appointed 27 July 2020)
Bankers: CAF Bank Limited Shawbrook Bank Limited
25 Kings Hill Avenue Lutea House, Warley Hill Business Park
Kings Hill, The Drive, Great Warley
West Malling, Brentwood
Kent ME19 4JQ Essex CM13 3BE

Structure, Governance and Management.

The organisation is a registered Charitable Incorporated Organization under a constitution last updated on 20 September 2018. The constitution provides for 4 trustees to be elected at each AGM, 4 trustees to be nominated by named organisations and up to 6 trustees to be co-opted by the Trustees. It was created to take over the management of the Market House from the charity known as the ‘Minchinhampton Market House Management Committee’ (Charity Number 207308). The change took effect on 1 July 2019. The ownership of the Market House was transferred from Minchinhampton Parish Council (as Custodian Trustee) to the CIO on the same date. This was in line with recommendations from the Charity Commission, and to comply with requirements to obtain grant funding from such bodies as DEFRA and the Heritage Lottery Fund

Objects and Activities.

The objects of the CIO are to establish and run a village hall known as the Minchinhampton Market House and to promote for the benefit of the inhabitants of the Parish of Minchinhampton (“the area of benefit”) without distinction of sex, sexual orientation, age, disability, nationality, race or political, religious or other opinions the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the conditions of life of the said inhabitants

Achievements and Performance

The Covid 19 Pandemic has closed the Market House for the most of 2020/21.

Whilst lockdowns have been in force the Trustees have taken the opportunity to improve the existing facilities to ensure that the Market House will be ‘fit for purpose’ as the town’s social, cultural and architectural centrepiece, when once again it will be able to welcome back members of the public.

Maintenance

The Trustees have taken full advantage of the imposed lockdowns to carry out necessary maintenance. The first priority was the replacement of the rainwater guttering to the building. The Trustees launched an appeal within the Parish of Minchinhampton, as owners of the Market House for the benefit of the people. The trustees take this opportunity to thank everybody who made a contribution

to the total of £16,000 raised. The trustees would also like to record the Committee’s thanks to Tim Mowat for organising the appeal ensuring most houses in the Parish received an appeal letter. The balance of the cost of the guttering was met from reserves.

At the same time and utilising the same scaffolding much needed repairs were made to the cornice, to replace missing roof tiles and to refurbish and paint the windows and external woodwork of the building. The cost of this was met in part by the annual grant of £5,000 from Minchinhampton Parish Council with the balance covered by government grants made as a result of the closure because of lockdown measures.

Whilst there were no bookings taken, the Trustees arranged for the hall floor to be completely stripped and re-treated.

Lockdown also enabled the committee members involved in the theatre lighting facility within the Market House, to take stock of available equipment. The exercise resulted in being able to sell on unwanted items raising funds for much needed new equipment and making a donation to the Minchinhampton Players.

Heritage Lottery Bid

The Trustees continue to work towards achieving a Heritage Lottery Fund bid to ensure that the Market House continues to fill a role within the community of Minchinhampton.

Appeal Fund

The purpose of the Appeal Fund is to provide match funding for specific improvements agreed by the Trustees to the Market House. There is no guarantee that the Market House will receive a Heritage Lottery Fund grant. If it is not successful any monies in the Fund will be used to improve the existing facilities as appropriate.

Bookings

In complying with the Government’s lockdown policy the number of bookings and enquiries have been drastically reduced.

During the summer and autumn term the Education CoOp continued to hire the hall and Minchinhampton Wednesday Market was able to use the Undercroft. Since Christmas both they, and the Tai Chi classes, have not been able to use the Market House or undercroft.

Regular bookings such as the cinema evenings, the Minchinhampton Players and other community functions have not been able to take place. We look forward to welcoming these events back to the Market House when they are able to do so.

The trustees cannot emphasise enough how important it is to have the support of the community by using the Market House, and we would like to say a special thank you to everyone in the community who volunteers to help in fund raising, and making events a success.

Christmas Lights

Once again the Market House took part in providing lights in the town. Phil Hale, Alan Vaughan and Justin Hodges were responsible for putting them up and taking them down again in January. A Christmas tree was donated by a local resident, and this year we agreed that pupils from Minchinhampton School could decorate the tree with their own special messages.

Because of lockdown, this year the Christmas Eve celebrations by the community which would have centred in and around the undercroft of Market House were not allowed to take place. However, Alan Vaughan produced a short video of previous years events and posted it on the town’s media site to remind the community of happy times at the Market House.

The Future

The Trustees applied for a Village Hall Improvement Grant through DEFRA. The project they wished to be considered was the re-laying of the pavers in the Undercroft. This would make the area safe for the general public, improve access and therefore increase the use of the space and in turn generate more letting income.The members of the parish were surveyed to ask if they were in agreement with the proposed plans. Over 95% of responses were in favour. A detailed plan was drawn up, costed, and tenders for the work to be carried out were obtained from a number of contractors. Unfortunately on this occasion we were unsuccessful but have been requested to apply again if more government funds are made available.

However, having done much investigation work it has been decided that the Trustees would look to fund raise independently in order to progress the project. Tim Mowat is approaching Trust Funds in order to raise the necessary money.

Trustees

Sadly, during this year two valued Trustees have died:

Philip Callaghan-Wright Minchinhampton Parish Council Representative Hugh Kearsey Minchinhampton Local History Group Representative

Jan Garling stood down as Booking Secretary in July

We have welcomed 3 new members to the Management Committee:

Joe May joined the Trustees in July as Booking Secretary Leonora Rozee joined the Trustees in August

Stan Waddington joined the Trustees in July as Minchinhampton Parish Council Representative

Janet Payne retired from trusteeship and from the Chairmanship of Minchinhampton Market House CIO with effect from the AGM and the trustees express their grateful thanks for her 6 years of service. Justin Hodges was elected as the next chairman of Minchinhampton Market House CIO.

Financial Review

The Profit & Loss and Balance Sheet cover the period 1 January 2020 to 31 December 2020. Total income was £54,762 (2019 - £8,733). Total profit was £2,591 (2019 – loss of £7,772). The comparative figures for 2019 relate to the activities of the CIO from 1 July 2019 to 31 December 2019.

General Fund

Profit for the year amounted to £5,189 (2019 – loss of £8,102)

Income

Letting was substantially reduced by the effect of lockdowns from £13,609 in 2019 to £5,039. The Minchinhampton Players were unable to stage any productions. The Education Coop were able to operate during some of them. The losses in income were more than offset by various government grants of £21,334 (2019 – nil). In addition, Minchinhampton Parish Council made a general grant of £5,000 (2019 - £5,000).

Expenditure

Depreciation increased slightly due to asset purchases in 2020. Major repairs to the building were completed in conjunction with the guttering renewal. These cost £1,622 for roof repairs, £2,570 for additional scaffolding and £6,400 for the painting of windows and doors. Capital purchases of £1,076 (2019 - £348) included £604 for foyer photos.

Appeal Fund

The loss for the year amounted to £2,598 (2019 – profit of £329)

Income

One fund raising event was held in March. Unrestricted donations of £1,014 (2019 - £500) were received from book and other sales made by Coralie Nurden. The gutter appeal raised £13,500 (2019 – nil) with £2,350 recovered from Gift Aid. The undercroft appeal raised £1,920 (2019 – nil) which is carried forward to 2021. A further £2,380 has been contributed in 2021.

Expenditure

Total expenditure for repairs and renewals on the guttering amounted to £22,062 (2019 – nil) with the amount in excess of the appeal charged against unrestricted income. This resulted in a £4,518 reduction in unrestricted reserves (2019 - £329 increase)

Balance Sheet

General Fund

Asset purchases amounted to £4,130 (2019 - nil) including £2,380 for foyer lighting and £1,375 for CCTV. Cash at bank increased by £830 to £13,292. Deferred revenue of £7,358 (2019 - £10,251) includes £6,906 of asset grants carried forward to offset future depreciation. Total reserves carried forward were £26,154

Appeal Fund

Total cash of £33,949 (2019 - £36.547) decreased by £2,598 in line with the loss for the year. Total reserves carried forward were £33,949.

.

J Hodges Chairman

R Bryan Treasurer

Independent Examiner’s Report on the Accounts

Report to the trustees/ Charity Name members of Minchinhampton Market House CIO On accounts for the year 31 December 2020 Charity no 1180035 ended (if any) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 / 12 / 2020 . Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 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 I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the which gives me cause to believe that in, any material respect:

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.

Signed: Date: 08/10/21 Name: Ian Williams FCA FIA Relevant professional Fellow of the Institute of Chartered Accountants of England and Wales qualification or body: Address: Hillcot, Cirencester Road, Minchinhampton, Gloucestershire GL6 9EQ

1

Minchinhampton Market House CIO Statement of Financial Activities General Fund

January - December January - December 2020 Jul - Dec
Notes Unrestricted Restricted Total 2019
Ordinary Income/Expense
Income
Fund Raising Events 0.00 0.00 0.00 344.00
Grants and Donations Income
Restricted 5a 0.00 2,753.00 2,753.00 1,576.50
Unrestricted 5b 27,004.00 0.00 27,004.00 350.00
Total Gifts and Donations Income 27,004.00 2,753.00 29,757.00 1,926.50
Hire Charges 5,039.00 0.00 5,039.00 5,948.00
Miscellaneous Income 182.50 0.00 182.50 0.00
Total Income 32,225.50 2,753.00 34,978.50 8,218.50
Expense
Advertising & Marketing 185.40 0.00 185.40 257.00
Bank Charges 60.00 0.00 60.00 60.00
Cleaning 1,742.48 0.00 1,742.48 807.75
COVID 19 382.34 0.00 382.34 0.00
Depreciation Expense 4,557.00 2,753.00 7,310.00 3,612.00
Event Costs 0.00 0.00 0.00 375.00
Insurance Expense 1,733.96 0.00 1,733.96 0.00
Miscellaneous Expense 116.89 0.00 116.89 43.67
Office Expense 216.53 0.00 216.53 0.00
Performing Rights 327.80 0.00 327.80 0.00
Professional Fees 0.00 0.00 0.00 0.00
Repairs and Maintenance 5c 15,144.94 0.00 15,144.94 10,000.51
Travel and Meetings 63.00 0.00 63.00 0.00
Utilities
Electricity 640.46 0.00 640.46 430.81
Gas 518.82 0.00 518.82 385.03
Telephone & Broadband 270.71 0.00 270.71 0.00
Total Utilities 1,429.99 0.00 1,429.99 815.84
Total Expense 25,960.33 2,753.00 28,713.33 15,971.77
Net Ordinary Income 6,265.17 0.00 6,265.17 -7,753.27
Other Income/Expense
Other Expense
Capital Purchases 5d 1,076.11 0.00 1,076.11 348.40
Total Other Expense 1,076.11 0.00 1,076.11 348.40
Net Other Income -1,076.11 0.00 -1,076.11 -348.40
Profit for the Year 5,189.06 0.00 5,189.06 -8,101.67

Minchinhampton Market House CIO Statements of Financial Activities Appeal Fund

January - December January - December 2020 Jul - Dec
NotesUnrestricted Restricted Total 2019
Ordinary Income/Expense
Income
Bank Interest Earned 217.91 0.00 217.91 14.24
Fund Raising Events 792.50 0.00 792.50 0.00
Gifts and Donations Income
Gutter Appeal 0.00 13,500.00 13,500.00 0.00
HMRC Gift Aid 0.00 2,350.00 2,350.00 0.00
Undercroft Appeal 0.00 1,920.00 1,920.00 0.00
Unrestricted 1,014.25 0.00 1,014.25 500.00
Total Gifts and Donations Income 1,014.25 17,770.00 18,784.25 500.00
Hire Charges 0.00 0.00 0.00 0.00
Miscellaneous Income 0.00 0.00 0.00 0.00
Total Income 2,024.66 17,770.00 19,794.66 514.24
Expense
Bank Charges 60.00 0.00 60.00 65.00
Event Costs 368.44 0.00 368.44 0.00
Professional Fees -98.00 0.00 -98.00 120.00
Repairs and Maintenance 6a 6,212.00 15,850.00 22,062.00 0.00
Total Expense 6,542.44 15,850.00 22,392.44 185.00
Net Ordinary Income -4,517.78 1,920.00 -2,597.78 329.24
Other Income/Expense
Other Expense
Capital Purchases 0.00 0.00 0.00 0.00
Total Other Expense 0.00 0.00 0.00 0.00
Net Other Income 0.00 0.00 0.00 0.00
Profit for the Year -4,517.78 1,920.00 -2,597.78 329.24

Minchinhampton Market House CIO Balance Sheet

As of 31 December 2020

Notes
ASSETS
Fixed Assets
Tangible Fixed Assets
7
Current Assets
Prepaid Expenses
8a
Accounts Receivable
8b
Cash at bank and in hand
8c
Total Current Assets
Current Liabilities
Accounts Payable
8b
Deferred Revenue
8b
Total Current Liabilities
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
Capital and Reserves
Unrestricted Reserves
Restricted Reserves
Buiding Valuation Reserves
7a
Total Reserves		 31 Dec 19
General
Appeal
Total
Revised
31 Dec 20
518,788.00
0.00 518,788.00 521,968.00
1,743.10
0.00
1,743.10
1,733.15
60.00
0.00
60.00
1,153.50
13,392.61
33,949.08
47,341.69
49,109.85
15,195.71
33,949.08
49,144.79
51,996.50
471.92
0.00
471.92
6,201.91
7,358.00
0.00
7,358.00
10,251.00
7,829.92
0.00
7,829.92
16,452.91
7,365.79
33,949.08
41,314.87
35,543.59
526,153.79
33,949.08 560,102.87 557,511.59
26,153.79
32,029.08
58,182.87
36,217.62
1,920.00
1,920.00
29,066.40
500,000.00
500,000.00 500,000.00
526,153.79
33,949.08 560,102.87 557,511.59

J Hodges Chairman

R Bryan Treasurer

Notes forming part of the Financial Statements for the period ended 31 December 2020

1. Basis of preparation

These accounts have been prepared on the basis of historic cost 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 for Smaller Entities. (Charities SORP (FRS 102)), Accounting Standards and with the Charities Act.

2. Accounting Policies

INCOMING RESOURCES

Recognition of incoming resources These are included in the Statement of Financial Activities (SoFA) when: - the charity becomes entitled to the resources; - the trustees are virtually certain that they will receive the resources; and - the monetary value can be measured with sufficient reliability. Unrestricted grants and donations Unrestricted grants and donations are only included the SoFA when the charity has unconditional entitlement to the resources. Restricted grants and donations Restricted grants and donations are matched with the expenditure to which they relate. Donated services and facilities These are only included in incoming resources if material. Volunteer help The value of any voluntary help is not included in the accounts but is described in the trustees’ annual report. EXPENDITURE AND LIABILITIES Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. ASSETS Market House Building The building was gifted by Col H G Ricardo in 1920 to be held by Trustees for the benefit of the residents of Minchinhampton. Having been held by Minchinhampton Parish Council as Custodian Trustees, it was transferred to the CIO on 2 July 2019 and is included at valuation Other Tangible fixed assets These are capitalised if they can be used for more than one year and cost at least £250. Items costing less than £250 are shown in the SoFA as ’Capital Purchases’

  1. Trustee Expenses

No trustees received any remuneration during the period. Five trustees were reimbursed for supplies and equipment purchased on behalf of the charity amounting to £1,403

  1. Employees

The charity has no employees

5. General Fund Income and Expenditure

7. Fixed Assets

Tangible Fixed Assets
Freefold land
and buildings		 Building
Improvements		 Equipment Total
Cost
Beginning of the year 500,000.00 27,170.00 5,250.00 532,420.00
Additions 2,380.00 1,750.00 4,130.00
End of the year 500,000.00 29,550.00 7,000.00 536,550.00

Depreciation
Beginning of the year 9,092.00 1,360.00 10,452.00
Depreciation 5,910.00 1,400.00 7,310.00
End of the year 0.00 15,002.00 2,760.00 17,762.00
Net book value 500,000.00 14,548.00 4,240.00 518,788.00
Tangible Fixed Assets
Freefold land
and buildings		 Building
Improvements		 Equipment Total
Cost
Beginning of the year 500,000.00 27,170.00 5,250.00 532,420.00
Additions 2,380.00 1,750.00 4,130.00
End of the year 500,000.00 29,550.00 7,000.00 536,550.00

Depreciation
Beginning of the year 9,092.00 1,360.00 10,452.00
Depreciation 5,910.00 1,400.00 7,310.00
End of the year 0.00 15,002.00 2,760.00 17,762.00
Net book value 500,000.00 14,548.00 4,240.00 518,788.00

8. Other Balance Sheet

.

Accounts Receivable of £60 is for hire charges. Accounts payable of £472 is for energy and cleaning. Deferred revenue comprises £6,906 for grants towards fixed assets and £452 for hire booking paid in advance.

Figures for 2019 are for the activities and the Minchinhampton Market House CIO from 1 July to 31 December