TAFFS WELL VILLAGE HALL FINANCIAL STATEMENTS ¥-.b¥FOR THE YEAR ENDED 31 DECEMBER 2023 Registered Charity number: 1186875 TAFFS WELL VILLAGE HALL FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2023 CONTENTS Reference & Administration Details Trustees Annual Report Receipts and Payments Account Statement of Assets and Liabilities Notes to the financial statements PAGE TAFFS WELL VILLAGE HALL TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATION DETAILS Registered Charity Narne Taff5 Well Village Hall Charity Number 1186875 Principal Office 83 Cardiff Road Taff5 Well Rhondda Cynon Taff CF15 7PL Trustees Carol Morg8n Mike Phillips Paul Ashman Allister Parkinson Lyn Phillips Elizabeth Lawrence Vice Chairperson Chairperson appointed 1111212019 appointed 1111212019 appointed 1111212019 appointed 3011012021 appointed 3011012021 appointed 3011012021 Treasurer Bankers CAF 25 Kings Hill Avenue Klngshill West Mallin8 Kent TAFFS WELL VILLAGE HALL TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 GOVERNANCE Taffs Well Village Hall is a Charitable Incorporated Organisation registered with the Charity Commission on 11 December 2019 under charlty number 1186875. It is governed by a constitution which was set up in September 2019. Prior to this the Hall operated under a Declaration of Trust dated 24th March 1961 and was registered with the Charity Commission under charity number 524253. The process of bringing the governance arrangements of the Hall up to date necessitsted the setting up of a new charity, with engagements, assets and liabilities transferring to the new charity Dn 1st January 2020. ORGANISATION STRUCTURE The charity is run by a committee comprising of the trustees, repre5entstives of the user groups and local residents. Trustees are appointed at the AGM by users of the hall and the general public in the local community. They stand for an initial term of seven years and subsequent terms of five year5. All of the trustees are SLÈbject to re-election each year. The charity, through the trustee5 and committee, oversees the running of the hall, co-ordinating its use by various local groups. The building 15 held in trust for the benefit of the village of Taffs Well by the Charity Commissioners. The land is owned by Rhondda Cynon Taff Local Authority and is leased under a 100 year lease, which has 37 years to run, at a peppercorn rent. RECRUITMENT OF TRUSTEES The constitution sets Out that there is a minimum of 3 trustees and a maxSmum of 12. as detailed above, apart from the first charity trustees, trustees are appointed for a term of three years. On appointment Trustees are provided with copies of both the constitution and the latest Trustees, Annual Report and statement. There were 3 trustees initally appointed and following the AGM in October 2022 a further 3 Trustees were appointed, bringing the total up to 6. AIMS AND OBJEcfivES The objects of the Hall are set out in the constitution and are as follows: The provision and maintenance of a village hall for the use of the inhabitants of Taffs Well and surrounding areas without distinction of political, religious or other opinions. including use for.. meetings, lectures and classe5, and other forms of recreation and leisure-time occupation, with the oblett of improving the life conditions of the inhabitants. The trustees confirm that they have had due regard to the charity commission's guidance on public benefrt when reviewing their aims and objectives and planning future activities. TAFFS WELL VILLAGE HALL TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 PRINaPAL FUNDING SOURCES The Halls principal income 15 from booking5 for classes. supplemented by donations, events, Including those for fundraising and grants for specific refijrbishment projects. ACHIEVEMENTS AND PERFORMANCE 2023 saw another succe55ful year with the hall attracting new booking5 and having 50me much needed repair work carried out on the flat roof. The committee welcomed new members and the hall continues to thrive due to the time and skills provided by a dedicated group of volunteers. The hall 15 busier than it has been for a number of years with all the prime evening spots taken and increased use during the day, particularly at the weekends. The Income from bookings now more than covers the day to day running costs, enabling us to supplement our fundraising from Grant Income towards continuing our program of improvements. Thanks must go to the ASDA Foundation, Interlink and the Coalfields Trust for their support this year. Further details on the refurbishment of the hall are provided below. REFURBISHMENTOF THE HALL Building on the work carried out in the last 4 years the Village Hall continued its refurbishment program in the last twelve months. The new kitchen was finished, the flat roof was completely ￿plaCed and the main roof had some improvement work which will increase its lifespan. Grant funding has been received to render the outside of the building and we purchased some chairs more suited to holding events. PLANS FOR THE FUTURE Having received 8rant funding this year we will concentrate in early 2024 on rendering the outside of the building. The Trustees will then prioritise the development of a new refurbishment plan for the next 5 years. Having largely completed the interior works we will focusing more on the outside of the building a5 well as prioritising fLTrrther energy efficiency measures as funding allows. TAFFS WELL VILLAGE HALL TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 HNANCIAL REVIEW During the year the hall made a surplus on unrestricted income of £1,21912022.' £1,447) enabling a small increase in unrestricted re5etves. These now stand at nearly £IO,(X)O and should Reserves continue to rise in 2024 Trustees will give consideration to using some of these for further improvements to the Hall. Restricted funds currently stand at £8,35712022.. £3511 although this money will be spent early in 2024 on the renderin8 of the building and purchasing some blinds for the wlndows. 2023 saw another large rlse in ljookings with Income rislng from £14,￿0 to nearly £19,CQO with an increased interest in classes and organi5ations wanting to use the hall. This interest has continued to grow during 2024. Event Income has fallen slightly from £7,000 down to £6,LKJO this year as the Committee focus on those events which are most likely to be popular and raise money for the hall. Grant Income, at £32,(J)012022.. £6,(KM)l is up considerably from last year. In common with many organisations the hall has been affetted by the rise in costsi Particularly on heating and lighting, despite maklng energy efficiency improvements over the past 3 years. Costs relating to utilltie were £8.OC(J12022.' £3,000) with £2,000 of those costs resulting from clearin8 a deficit that arose in the previou5 year. This will continue to be closely monitored over the coming months. The other main expenditure was on refurbishment. Thanks to the receipt of grant fundin8 and the hall being about to contribute £5,1XJO of unrestricted income expenditure on refurbishment was £28,C(O12022.. £12,1xoI RESERVES POLICY The policy of the Trustees is to hold a minimum of 6 months day to day expenditure as unrestricted re5eNes. With such expenditure currently running at £1,100 per month this eqLtates to £6,600. At the end of December 2023 unrestricted reserves totalled £9,617. Given the continued uncertainties around fuel costs the Trustees consider the current level of reserves to be appropriate at this point in time. The Trustees will consider holding larger reseNes if a speciflc project such as a major repalr has been identified and requires funds to be built up over time. There have been no events between the year end and the signing of the accounts that prevent the Trustees from considering the Charity to be financial viable and thus treated as a going concern. TAFFS WELL VILLAGE HALL TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 INVESTMENT POUCY The hall has no long term investments. Cash is held in a CAF turrent account with any exces5 beyond our day to day needs being transferred to a CAF Bank Deposit Account. Signed on behalf of the trustees Cardiff Road Taffs Well Rhondda Cynon Taff CF15 7PL signed name date TAFFS WELLVILLAGE HALL RECEIPTS AND PAYMENTSACCOUMT YEAR ENDED 31 DECEMBER 2023 2023 Unrestricted Restricted Funds FL*nds 2022 Unrestrirted Restrlded Total Funds Funds Funds 2020 Total Funds RECEIPTS Hall Lettings Events 18,973 6,294 16 18,973 6,294 16 31,697 247 13.556 7.252 163 13.556 7,252 163 Donations Giant Miscellaneous 31,697 6.116 6,116 74 247 74 TOTAL RECEIPTS 25,530 31,697 57,227 21,045 6.116 27.161 PAYMENTS Cleaning Rate5 & Water Light, Heat & 8roadband Repairs & Maintenance Refurbishment Gardening Insuran Events Advert15inB and Promotion Miscellaneous Transfer 2,699 1,077 8,326 1,139 5,103 249 2.159 2,497 2.699 1,077 8,326 1,139 28,443 2,515 166 3,388 759 2.51S 166 3,388 759 23,340 351 5,641 377 . 11.650 377 1,827 2,668 L124 1,305 2,159 2,497 1,827 2,668 1.124 1,305 11631 1.062 1,062 163 TOTAL PAYMENTS 24.311 23,691 48,002 19,598 6,181 25,779 NET INCOME / IPAYMENTSI 1.219 8,(K)6 9,225 1,447 1651 1,382 CASH FUNDS WTYEAR END 8,398 351 8,749 6,951 416 7,367 ASH FUNDS THIS YEAR END 9,617 8.357 17,974 8.398 351 8.749 TAFFS WELL VILLAGE HALL STATEMENT OF ASSETS AND LIABILITIES YEAR ENDED 31 DECEMBER 2023 OPENING BALANCE 2023 Unrestricted Restricted Funds Funds 2022 Unrestricted Restricted Funds Funds Total Funds Total Funds CASH FUNDS Bank accounts Cash in Hand 8,142 256 351 8,493 256 6,882 69 416 7,298 69 8,398 351 8,749 6,951 416 7,367 CLOSING BALANCE 2023 Unrestricted Restricted Funds Funds 2022 Vnrestricted Restricted Funds Funds Total Funds Total Funds CASH FUNDS Bank accounts Cash in Hand 9,326 291 8,357 17,683 291 8,142 256 351 8,493 256 9,617 8,357 17,974 8,398 351 8,749 TAFFS WELL VILLAGE HALL FINANCIAL STATEMENTS ¥-.b¥FOR THE YEAR ENDED 31 DECEMBER 2023 Registered Charity number: 1186875 TAFFS WELL VILLAGE HALL FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2023 CONTENTS Reference & Administration Details Trustees Annual Report Receipts and Payments Account Statement of Assets and Liabilities Notes to the financial statements PAGE TAFFS WELL VILLAGE HALL TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATION DETAILS Registered Charity Narne Taff5 Well Village Hall Charity Number 1186875 Principal Office 83 Cardiff Road Taff5 Well Rhondda Cynon Taff CF15 7PL Trustees Carol Morg8n Mike Phillips Paul Ashman Allister Parkinson Lyn Phillips Elizabeth Lawrence Vice Chairperson Chairperson appointed 1111212019 appointed 1111212019 appointed 1111212019 appointed 3011012021 appointed 3011012021 appointed 3011012021 Treasurer Bankers CAF 25 Kings Hill Avenue Klngshill West Mallin8 Kent TAFFS WELL VILLAGE HALL TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 GOVERNANCE Taffs Well Village Hall is a Charitable Incorporated Organisation registered with the Charity Commission on 11 December 2019 under charlty number 1186875. It is governed by a constitution which was set up in September 2019. Prior to this the Hall operated under a Declaration of Trust dated 24th March 1961 and was registered with the Charity Commission under charity number 524253. The process of bringing the governance arrangements of the Hall up to date necessitsted the setting up of a new charity, with engagements, assets and liabilities transferring to the new charity Dn 1st January 2020. ORGANISATION STRUCTURE The charity is run by a committee comprising of the trustees, repre5entstives of the user groups and local residents. Trustees are appointed at the AGM by users of the hall and the general public in the local community. They stand for an initial term of seven years and subsequent terms of five year5. All of the trustees are SLÈbject to re-election each year. The charity, through the trustee5 and committee, oversees the running of the hall, co-ordinating its use by various local groups. The building 15 held in trust for the benefit of the village of Taffs Well by the Charity Commissioners. The land is owned by Rhondda Cynon Taff Local Authority and is leased under a 100 year lease, which has 37 years to run, at a peppercorn rent. RECRUITMENT OF TRUSTEES The constitution sets Out that there is a minimum of 3 trustees and a maxSmum of 12. as detailed above, apart from the first charity trustees, trustees are appointed for a term of three years. On appointment Trustees are provided with copies of both the constitution and the latest Trustees, Annual Report and statement. There were 3 trustees initally appointed and following the AGM in October 2022 a further 3 Trustees were appointed, bringing the total up to 6. AIMS AND OBJEcfivES The objects of the Hall are set out in the constitution and are as follows: The provision and maintenance of a village hall for the use of the inhabitants of Taffs Well and surrounding areas without distinction of political, religious or other opinions. including use for.. meetings, lectures and classe5, and other forms of recreation and leisure-time occupation, with the oblett of improving the life conditions of the inhabitants. The trustees confirm that they have had due regard to the charity commission's guidance on public benefrt when reviewing their aims and objectives and planning future activities. TAFFS WELL VILLAGE HALL TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 PRINaPAL FUNDING SOURCES The Halls principal income 15 from booking5 for classes. supplemented by donations, events, Including those for fundraising and grants for specific refijrbishment projects. ACHIEVEMENTS AND PERFORMANCE 2023 saw another succe55ful year with the hall attracting new booking5 and having 50me much needed repair work carried out on the flat roof. The committee welcomed new members and the hall continues to thrive due to the time and skills provided by a dedicated group of volunteers. The hall 15 busier than it has been for a number of years with all the prime evening spots taken and increased use during the day, particularly at the weekends. The Income from bookings now more than covers the day to day running costs, enabling us to supplement our fundraising from Grant Income towards continuing our program of improvements. Thanks must go to the ASDA Foundation, Interlink and the Coalfields Trust for their support this year. Further details on the refurbishment of the hall are provided below. REFURBISHMENTOF THE HALL Building on the work carried out in the last 4 years the Village Hall continued its refurbishment program in the last twelve months. The new kitchen was finished, the flat roof was completely ￿plaCed and the main roof had some improvement work which will increase its lifespan. Grant funding has been received to render the outside of the building and we purchased some chairs more suited to holding events. PLANS FOR THE FUTURE Having received 8rant funding this year we will concentrate in early 2024 on rendering the outside of the building. The Trustees will then prioritise the development of a new refurbishment plan for the next 5 years. Having largely completed the interior works we will focusing more on the outside of the building a5 well as prioritising fLTrrther energy efficiency measures as funding allows. TAFFS WELL VILLAGE HALL TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 HNANCIAL REVIEW During the year the hall made a surplus on unrestricted income of £1,21912022.' £1,447) enabling a small increase in unrestricted re5etves. These now stand at nearly £IO,(X)O and should Reserves continue to rise in 2024 Trustees will give consideration to using some of these for further improvements to the Hall. Restricted funds currently stand at £8,35712022.. £3511 although this money will be spent early in 2024 on the renderin8 of the building and purchasing some blinds for the wlndows. 2023 saw another large rlse in ljookings with Income rislng from £14,￿0 to nearly £19,CQO with an increased interest in classes and organi5ations wanting to use the hall. This interest has continued to grow during 2024. Event Income has fallen slightly from £7,000 down to £6,LKJO this year as the Committee focus on those events which are most likely to be popular and raise money for the hall. Grant Income, at £32,(J)012022.. £6,(KM)l is up considerably from last year. In common with many organisations the hall has been affetted by the rise in costsi Particularly on heating and lighting, despite maklng energy efficiency improvements over the past 3 years. Costs relating to utilltie were £8.OC(J12022.' £3,000) with £2,000 of those costs resulting from clearin8 a deficit that arose in the previou5 year. This will continue to be closely monitored over the coming months. The other main expenditure was on refurbishment. Thanks to the receipt of grant fundin8 and the hall being about to contribute £5,1XJO of unrestricted income expenditure on refurbishment was £28,C(O12022.. £12,1xoI RESERVES POLICY The policy of the Trustees is to hold a minimum of 6 months day to day expenditure as unrestricted re5eNes. With such expenditure currently running at £1,100 per month this eqLtates to £6,600. At the end of December 2023 unrestricted reserves totalled £9,617. Given the continued uncertainties around fuel costs the Trustees consider the current level of reserves to be appropriate at this point in time. The Trustees will consider holding larger reseNes if a speciflc project such as a major repalr has been identified and requires funds to be built up over time. There have been no events between the year end and the signing of the accounts that prevent the Trustees from considering the Charity to be financial viable and thus treated as a going concern. TAFFS WELL VILLAGE HALL TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 INVESTMENT POUCY The hall has no long term investments. Cash is held in a CAF turrent account with any exces5 beyond our day to day needs being transferred to a CAF Bank Deposit Account. Signed on behalf of the trustees Cardiff Road Taffs Well Rhondda Cynon Taff CF15 7PL signed name date TAFFS WELLVILLAGE HALL RECEIPTS AND PAYMENTSACCOUMT YEAR ENDED 31 DECEMBER 2023 2023 Unrestricted Restricted Funds FL*nds 2022 Unrestrirted Restrlded Total Funds Funds Funds 2020 Total Funds RECEIPTS Hall Lettings Events 18,973 6,294 16 18,973 6,294 16 31,697 247 13.556 7.252 163 13.556 7,252 163 Donations Giant Miscellaneous 31,697 6.116 6,116 74 247 74 TOTAL RECEIPTS 25,530 31,697 57,227 21,045 6.116 27.161 PAYMENTS Cleaning Rate5 & Water Light, Heat & 8roadband Repairs & Maintenance Refurbishment Gardening Insuran Events Advert15inB and Promotion Miscellaneous Transfer 2,699 1,077 8,326 1,139 5,103 249 2.159 2,497 2.699 1,077 8,326 1,139 28,443 2,515 166 3,388 759 2.51S 166 3,388 759 23,340 351 5,641 377 . 11.650 377 1,827 2,668 L124 1,305 2,159 2,497 1,827 2,668 1.124 1,305 11631 1.062 1,062 163 TOTAL PAYMENTS 24.311 23,691 48,002 19,598 6,181 25,779 NET INCOME / IPAYMENTSI 1.219 8,(K)6 9,225 1,447 1651 1,382 CASH FUNDS WTYEAR END 8,398 351 8,749 6,951 416 7,367 ASH FUNDS THIS YEAR END 9,617 8.357 17,974 8.398 351 8.749 TAFFS WELL VILLAGE HALL STATEMENT OF ASSETS AND LIABILITIES YEAR ENDED 31 DECEMBER 2023 OPENING BALANCE 2023 Unrestricted Restricted Funds Funds 2022 Unrestricted Restricted Funds Funds Total Funds Total Funds CASH FUNDS Bank accounts Cash in Hand 8,142 256 351 8,493 256 6,882 69 416 7,298 69 8,398 351 8,749 6,951 416 7,367 CLOSING BALANCE 2023 Unrestricted Restricted Funds Funds 2022 Vnrestricted Restricted Funds Funds Total Funds Total Funds CASH FUNDS Bank accounts Cash in Hand 9,326 291 8,357 17,683 291 8,142 256 351 8,493 256 9,617 8,357 17,974 8,398 351 8,749 ## **Independent examiner's report on the accounts** **Section A Independent Examiner’s Report** **Report to the trustees/** Charity Name **members of** Taffs Well Village Hall **On accounts for the year** 31 December 2023 **ended** **Set out on pages** 2-8 **Charity no** 1186875 **(if any)** (remember to include the page numbers of additional sheets) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended **31/12/2023** - **Responsibilities and** As the charity trustees of the Trust, you are responsible for the preparation **basis of report** of the 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect: - ~~accounting records were not kept in accordance with section 130 of the Act or~~ - ~~the accounts do not accord with the accounting records~~ I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. * _Please delete the words in the brackets if they do not apply._ **Date:** 30/10/2024 **Signed: Name:** Sarah Cole **Relevant professional** Association of Certified Accountants **qualification(s) or body (if any): Address:** 31 Arcot Street, Penarth, Vale of Glamorgan. CF64 1EU 1 **October 2018** **IER** ## **Section B Disclosure** Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). **Give here brief details of any items that the examiner wishes to disclose** . 2 **October 2018** **IER**