**Sidbury Village Hall CIO (Registered Charity No.: 1184446)**
## **Trustees’ Annual Report and Accounts**
**31 March 2024**
_Sidbury Village Hall Trustees’ Annual Report and Accounts Year ended 31 March 2024_
|**Contents**|Page|
|---|---|
|Trustees’ Annual Report|2 - 3|
|Statement of Financial Activities|4|
|Balance sheet|5|
|Notes|6 - 10|
## **Reference and administration details**
Sidbury Village Hall Fore Street Sidbury Sidmouth Devon EX10 0SD
## _**Management Committee (Trustees):**_
The members of the Management Committee who served during the financial year are as follows:
## _Trustees_
Simon Belither Adam Chinery Chelsea Cross Roger Davey – Chairman Sue Gooding – Secretary Hazel Hallett Monica Hennessy – Bookings Secretary
Bradley Jenkins – Vice Chairman John Rush Graham Shepherd Rosemary Sowden Malcolm Williams Bill Wilkinson – Treasurer
## _Friends of the Village Hall_
Mary Dowell Justin Lascelles David Sowden Lynden Webb
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_Sidbury Village Hall Trustees’ Annual Report and Accounts Year ended 31 March 2024_
## **Trustees’ Annual Report**
## **Objectives and activities**
Sidbury Village Hall CIO (the “Hall”) is a charity, registered with the Charity Commission, the purpose of which is to improve the conditions of life of the inhabitants of Sidbury through the maintenance and administration of the Hall. The Hall, which is leased from The Sidbury Manor Estate until 2029, is vested in the name of the Official Custodian of Charities.
The Hall provides facilities to be used by a diverse range of individuals, organisations, clubs and societies for a variety of recreational, sporting and cultural activities.
## **Structure, governance, management and public benefit**
The affairs of the Hall are managed on a voluntary basis by the Management Committee (the “Committee”), the members of which are also, under Charities Regulations, the Trustees of the Charity (“Trustees”). The Committee is assisted by a number of individuals, known as the Friends of the Village Hall who are co-opted or appointed by clubs and other organisations in the Village of Sidbury.
Details of the members of the Committee who served during the year to 31 March 2024 are given on page 1. Regular management is provided by the Chairman, Secretary, Bookings Secretary and Treasurer.
As providers of a Community Building used by members of the public, the Committee faces increasing regulation and associated compliance costs. The Committee keeps itself up to date on such matters through information provided by the Community Council for Devon and the Charity Commission. The Hall is a member of the Community Council for Devon.
The Committee continually ensures that the facilities provided in the Hall are of an appropriate standard and quality and that the fabric and building is maintained in good repair. The Committee confirm that they have paid due regard to the guidance published by the Charity Commission on public benefit in deciding which activities the Hall should undertake.
Regular users of the Hall include the drama club, indoor bowls, badminton, table tennis, the Women’s Institute and art group.
To minimise financial risk the Hall’s insurance cover includes public liability, buildings and contents, loss of revenue and trustee indemnity. Reserves are maintained to cover anticipated and future costs in the event of a reduction in income, to fund expenditure of a capital nature, to maintain the fabric and building of the Hall and to meet the cost of future projects that will improve or extend the available facilities. The level of reserves is based on a multiple of average annual expenditure and an allowance for capital expenditure. The Committee have taken into account guidance published by the Charity Commission on Charities and Reserves and have approved a formal policy on reserves which is proportionate to the needs of the Hall.
## **Financial review**
All the Hall’s finances relate to its charitable activity which is the maintenance and administration of the Hall.
The total net income (surplus) for the year, after depreciation, was £5,321 ( _2023: - £_ 1,416). A detailed analysis of income is provided in note 3 of the accounts on pages 7 and a detailed analysis of expenditure is provided in note 4 on page 8.
At 31 March the Hall’s General Fund was £72,923 ( _2023: £67,602)_ . Bank and cash balances were £66,770 ( _2023: £60,479_ ).
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_Sidbury Village Hall Trustees’ Annual Report and Accounts Year ended 31 March 2024_
## **Trustees’ Annual Report (continued)**
## **Financial review** _**continued**_
The highlights to note are:
- Income from affiliated clubs is higher due to an additional £2,000 from the Drama Club as a consequence of them having more productions in 2023 to make up for those lost during COVID;
- Private hires were less in number whereas the WI had more as did the art group;
- Compared with 2023 the costs for the provision of gas and electricity were significantly less. A separate and detailed report on the performance of our energy service provider has been prepared and provided to the Committee. On 9 July we changed from EDF to Scottish Power;
- Repair costs include the cost of the Fire Risk and Emergency Assessment carried out in July 2023 and the subsequent follow up work on fire doors, safety signs and smoke and carbon monoxide alarms.
Whilst the bank balances are healthy it is likely that the Hall roof will need replacing sometime in the future. There is no immediate concern.
The Committee’s responsibilities for accounting, reporting and filing are set out below. Whilst the financial systems and processes do not fully meet all those suggested by the Charity Commission, they are considered appropriate considering the nature, scope and sources of the Hall’s financial transactions.
## **Independent examination**
Charity law and regulations require that an independent examination of charity accounts is required if the gross income of the charity is greater than £25,000. Even though in previous years the gross income of the Hall was less than this the Committee agreed that an independent examination should be undertaken. As a consequence of the delay in presenting these accounts and subsequent postponement of the AGM it was decided that, in the circumstances, an independent examination was not required.
## **Statement of Committee members’ responsibilities**
As a charity it is important that the Committee can demonstrate that money received is used properly in meeting its charitable objectives. All Committee members have a responsibility to protect the Hall’s funds and property.
Under charity law the Committee is responsible for ensuring that the Hall meets its accounting, reporting and filing requirements. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011.
The Committee declare that they have approved this Annual Report.
Signed on behalf of the Trustees
William Wilkinson _Treasurer_ 31 July 2024
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_Sidbury Village Hall Trustees’ Annual Report and Accounts Year ended 31 March 2024_
## **Statement of Financial Activities** _**For the year ended 31 March 2024**_
|||Year ended|**Year ended**|
|---|---|---|---|
|||31 March|**31 March**|
||**Notes**|2023|**2024**|
|||£|**£**|
|**Incoming resources**|3|||
|Charitable activities||7,879|**9,337**|
|Other trading activities||7,075
|**6,040**
|
|||14,954
|**15,377**
|
|**Resources expended**|4|||
|Charitable activities||12,897|**9,415**|
|Other trading activities||641
|**641**
|
|||13,538
|**10,056**
|
|**Net income**||1,416|**5,321**|
|**Reconciliation of funds**|9|||
|Funds brought forward||66,186
|**67,602**
|
|**Funds carried forward**||67,602|**72,923**|
The notes on pages 6 to 10 form part of these accounts.
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_Sidbury Village Hall Trustees’ Annual Report and Accounts Year ended 31 March 2024_
|**Balance sheet**
**_At 31 March 2024_**
**Notes**
**Fixed assets**
5
**Current assets**
Cash at bank and in hand
6
Debtors and prepayments
7
Stock
**Creditors:**amounts falling due within one year
8
**Net current assets**
**Total assets less current liabilities**
**Represented by:**
General Fund (unrestricted)
9
Restricted Fund
9|2023
£
£
6,748
60,479
230
240
60,949
95
60,854
_______
67,602
======
67,602
-
_______
67,602
**======**|**£**
**66,770**
**2,105**
**252**
**69,127**
**1,935**
|**2024**
**£**
**5,731**
**67,192**
**______**
**72,923**
======
**72,923**
**-**
|
|---|---|---|---|
||||**72,923**
**======**|
These accounts were approved by the Trustees on 31 July 2024 and were signed on their behalf by R Davey and W Wilkinson.
The notes on pages 6 to 10 form part of these accounts.
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_Sidbury Village Hall Trustees’ Annual Report and Accounts Year ended 31 March 2024_
## **Notes**
_**(Forming part of the accounts)**_
## **1 Basis of preparation**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
These accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011.
The Hall constitutes a public benefit entity as defined by FRS 102.
## **2. Accounting policies**
Hire income, donations and income from affiliated clubs is generally included in the statement of financial activities when the Hall is legally entitled to it and the amount can be measured with reasonable certainty.
Income from fund raising events and the provision of bar facilities is recognised when received and is stated net after the deduction of expenses.
Interest arising on bank deposits and income from the electrical feed in tariff scheme is included in the statement of financial activities when receipt is probable and the amount receivable can be measured with reasonable certainty.
Expenditure is included on an accruals basis.
Assets which cost more than £2,000 are capitalised and the cost written off over their estimated useful economic life. Expenditure which is less than this is written off in the year in which it is incurred.
PV solar panels 20 years Equipment 5 years Curtains 10 years
Financial instruments, cash and bank balances, receivables, and payables, are recognised in the balance sheet when the Hall becomes a party to a financial contract. They are recorded at cost and subsequently carried at amortised cost using the effective interest method. Due allowance is made for impaired receivables (doubtful debts).
Stocks are stated at the lower of their cost or net realisable value after making due allowance for obsolete and slow-moving items.
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the Hall to pay out resources and the amount of the obligation can be measured with reasonable certainty.
The Hall has charitable status and is exempt from taxation. The Hall is not registered for value added tax (VAT) and accordingly expenditure includes VAT which cannot be recovered and is reported as part of the expenditure to which it relates.
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_Sidbury Village Hall Trustees’ Annual Report and Accounts Year ended 31 March 2024_
**Notes** _**(Forming part of the accounts)**_
|**3**
**Analysis of income**
2023
£
_Charitable activities – hire income_
Private hires
1,813
Art classes
1,055
Sidbury WI
691
Hire of equipment
-
_____
3,559
_Charitable activities – affiliated clubs_
Short Mat Bowls
1,250
Sidbury into Drama
1,500
Table Tennis
1,000
Badminton
570
4,320
Total
7,879
Clubs affiliated to the Hall are responsible for their own financial affairs.
£
_Other trading activities_
Sidbury Fair: refreshments
**-**
Sidbury Fair: bric-a-bac
**-**
Bar at Hall functions
4,526
Feed in tariff: PV Solar Cells
2,549
7,075|**2024**
**£**
**1,064**
**1,098**
**1,015**
**20**
**_____**
**3,197**
**1,250**
**3,500**
**800**
**590**
**6,140**
**9,337**
**£**
**513**
**150**
**2,941**
**2,436**
**6,040**|
|---|---|
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_Sidbury Village Hall Trustees’ Annual Report and Accounts Year ended 31 March 2024_
|**Notes**
**_(Forming part of the accounts)_**
**4**
**Analysis of expenses**
2023
£
**_Charitable activities_**
_Repairs and renewals_
Fire regulation review and follow up work
-
Refrigeration – chiller repair/new fridge
446
Bathroom tiling
-
Gas certificate and boiler service/catering safety
168
Solar panels - cleaning
-
Fire equipment service
59
Defibrillator support
74
EFTPOS terminal
-
Plumbing
85
Toilet radiators
130
Bunting
122
Planter and basket flowers
13
Keys
5
1,102
Defibrillator support – restricted fund
52
---------
1,154
_Other_
Water
182
Heat and light:
Gas
6,450
Electricity
1,040
Caretaking and cleaning
1,620
Insurance
1,399
Licence fees
329
Community Council for Devon
50
Bank charges and credit card fees
170
Administration expenses
127
Depreciation - equipment (note 5)
376
11,743
12,897
**_Other trading activities_**
Depreciation – PV solar cells (note 5)
641|**2024**
**£**
**1,482**
**394**
**209**
**174**
**160**
**150**
**125**
**95**
**89**
**-**
**-**
**-**
**-**
**2,878**
**-**
---------
**2,878**
**150**
**372**
**2,045**
**1,725**
**1,346**
**329**
**50**
**122**
**22**
**376**
**6,537**
**9,415**
**641**|
|---|---|
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_Sidbury Village Hall Trustees’ Annual Report and Accounts Year ended 31 March 2024_
|**Notes**
**_(Forming part of the accounts)_**
**5**
**Fixed assets**
**PV Solar**
**Cells**
**£**
**_Cost_**
At 1 April 2022 and 31 March 2023
12,830
**_Depreciation_**
At 1 April 2023
7,210
Charge for the year
641
At 31 March 2023
7,851
**_Net book value_**
At 31 March 2023
5,620
**At 31 March 2024**
**4,979**
**6**
**Cash at bank and in hand**
Cash
Current
**7**
**Debtors and prepayments**
_Debtors_
Amounts receivable – Affiliated Club
_Prepayments_
Defibrillator Support|**Chairs**
**Curtains**
**£**
**£**
2,664
3,760
2,664
2,632
-
376
2,664
3,008
-
1,128
**-**
**752**
2023
£
290
60,189
60,479
2023
£
-
230|**Chairs**
**Curtains**
**£**
**£**
2,664
3,760
2,664
2,632
-
376
2,664
3,008
-
1,128
**-**
**752**
2023
£
290
60,189
60,479
2023
£
-
230|
**Total**
**£**
19,254
12,506
1,017
13,523
6,748
**5,731**
**2024**
**£**
**340**
**66,430**
**66,770**
**2024**
**£**
**2,000**
**105**|**Total**
**£**
19,254
|
|---|---|---|---|---|
|||2,632
376
||12,506
1,017
|
|||3,008
||13,523
|
|||1,128||6,748|
|||**752**||**5,731**|
||||||
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_Sidbury Village Hall Trustees’ Annual Report and Accounts Year ended 31 March 2024_
## **Notes**
_**(Forming part of the accounts)**_
|**8**
**Creditors: amounts falling due within one year**
_Creditors_
Trade creditors
Hire in advance
_Accruals_
EDF – gas and electricity
**9**
**Funds**
Restricted
£
At 1 April 2022
52
Net income/(expenditure)
(52)
At 31 March 2023
0
Net income
-
At 31 March 2024
**-**|2023
£
5
90
-
95
Unrestricted
£
66,134
1,468
67,602
5,321
**72,923**|**2024**
**£**
**-**
**72**
**1,863**
**1,935**
Total
£
66,186
1,416
67,602
5,321
**72,923**|**2024**
**£**
**-**
**72**
**1,863**
|
|---|---|---|---|
||||**1,935**|
Up until 31 March 2023 the restricted fund was used to contribute to the annual support cost of maintaining the defibrillator.
## **10 Related party transactions**
Expenses incurred by members of the Management Committee on behalf of the Hall are reimbursed.
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