Registered Charity No. 1186926 BULKINGTON COMMUNITY LIBRARY CIO REPORT AND UNAUDITED FIIYANCIAL STATEMENTS 31 DECEMBER 2024
BULKINGTON COMMUIYITY LIBRARY CIO Year ended 31 D¢cember 2024 CONTENTS Legal and Administrative Details Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes forniin8 part of the financial statements 7-10
Page I BULKINGTON COMMUNITY LIBRARY CIO Legal and Administrative Details Charity Reglstration Iyumber: 1186926 Trustees: John B Beaumont Mary C Beaumont Wendy Fudge Ann Romaniak (resigned 5 March 2025) Theresa Rowe Denise Wolff (appointed l O February 2024) Phillip Bonehill (appointed 5 March 2025) Christine Oldham (appointed 5 March 2025) Prlnelpal Addre$$: Bulkington Community Library School Road Bulkington Bedworth CV12 9JB Bankers: The Cooperative Bank Online Banking Accountants: Annstrongs Bishop Simmons Limited Gethin House 36 Bond Street Nunealon Wanvickshire CVI 14DA
Page 2 BULKINGTON COMMUNITY LIBRARY CIO Report of ihe Trnstees, for the year ended 31 December 2024 The trustees present thcir report alonby with ihc unMudii¢d findiiLiKII ¥liii¢iii¢Lllb L)filic lIrItY for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity's schemes. the Charities Act 2011 and Accounting and Reporting by charities.. Statement of Recommended Practice applicable to charities, preparing their accounls in accordance with the Financial Reporting Standd (FRS 102) published on 16 July 2014. STRUCTURE, GOVERNANCE AND MANAGEMEIYT The charity was incorpi)rated on 12 Deccmber 2019 as a Charitable Encoryorated Orbvanisation. All of the assets of Bulkingyton Community Library CIC were transferred to the Charity al that dale. RISK MANAGEMENT ThL trustees liave conducted a review of the major risks to which the chariiy is exposed and syslems have been established to mitigate those risks which they have identified. OWECTIVES AND ACTIVITIES FOR PUBLIC BENEFIT The objects ot the charity is t() promote tor the benctit of the residents of Bulkin¥ton and the surrounding areas through the provision of a public library for recrealion and or other leisur¢ lirne occupation of indtviduals who have necd of such facilities by reason of their circumstances or for the public at large iii th¢ interests of social welfare and with the object of improvinby the condition ot'the said residents. The trustee5 confimi that they have r¢fcrred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewin&y the charity's aims and objectives and in setting the grant making policy for the year. ACHIEVEMENTS AND PERFORMANCE DuringF the year the library continued to build a useful and valued position in the village of Bulkinglon with the footfall rising lo 31.256 over all hours. The annual Opening anniversary Event in April and the village annual Lights switch on in November still providinbF a valued source of fiJnding- for which we are grateful. Fund raising was a continuing program with monthly raffles and Quiz nights providing a regular income, whilst also being a welcome social event for the community. Throughout the year there has been a number of Coffee & Chat momings, and a very successful Cream Tea, which also boosted our income. We have managed to secure income through the use of our back room. which is now hired on a regular basis by Booster Tulors, a personal tulor who has a healthy and growing group of pupilslstudents.
Page 3 BULKINGTON COMMUNITY LIBRARY CIO Report of the TTUStees' for the year ended 31 December 2024 Our sale ot sccond hanabooks and Jiss<lWS lia5 1]tinu io be tt r¢8ular wrlrom¢ $tsurce of funding. We received donations to support our efforts from Redrow and Taylor Wimpey housebuilders. The trustees are extremely grateful for the communities continued support to help maintain this valu¢d service within the village. FINAIYCIAL REVIEW Total unrestricted income for the year, amounied to £21,501 whilst expenditure totalled £20,549 with the result that nel income amounted to £952. At 31 December 2024, the unrestricted general funds of the charity were £39.825. RESERVE AND INVESTMENT POLICY The trustees keep the level of reserves under review on a regular basis and surplus funds will be invested with our Lurrenl banker5. The library has run without having to access to a £ l 0.000 bond set up with the United Trust Bank Liinited. Investment opportunilies will be consid¢r¢d for 2025126. It is the intention to create a Building Fund wilh a target of £55,000 lo prepare for a roof renewal of the library premises. by 2031. On behalf of the trustees Q9J¢ Denise Wolff Secretary I l June 2025
Page 4 BULKINGTON COMMUNITY LIBRARY CIO Independent Examiner's Report the year ended 31 December 2024 Independent Examiner's Report to the Trus¢¢es of Bulklngton Communlty Library cio I report lo the charity truslees on my examination of the accounts of the charity for the year ended 31 December 2024, which are set out on pages 5 to 9, Responslbllltles gnd basls of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Acl 2011 ('the Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the 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 exAmlner's statement I hav¢ completed my examination. I confinn that no material matters have come to my attention in connection wilh the examination byivingy me Lause to believe Ihat in any material respect: . accounting records wcrc not kept in respect of the charity as required by section 130 ofthe 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requiremenls concerning the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. I have no concerns and have come across no other matters in connection with the examination to which allenlion should be drawn in this report in order to enable a proper understanding of the accounts to be reach¢d. Mrs J A Biggs FCCA. CTA Amstrongs Bishop Simmons Limited Chartered Accountants Gelhin House 36 Bond Street Nuneaton Wanvickshire CVI14DA I l June 2025
Page 5 BULNGToN COMMUNITY LIBRARY CIO Unaudiied Statement of Financia] Activities for the year ended 31 December 2024 Total Funds 2024 'I'otal Funds 2023 Unrestricted Restricted Fund$ Funds Notes Incoming resources Income and endowments from: Donalions and legacies Charitable activities 1,530 19,924 1.530 19,924 2,256 17,798 Total income 21,454 21,454 20,054 Resources expended Expenditure on: Charitable activities 20,502 20.502 13.554 Total expenditure 20,502 20,502 13,554 Net income 952 952 6,500 Net movement In funds 952 952 6,500 Re¢onclllatlon of fund5 Total funds brought forward 38,873 38,873 32,373 Total funds carried forivard 39,825 39.825 38.873
Page 6 BULKINGTON COMMUNITY LIBRARY CIO Balance Sheet as at 31 December 2024 2024 2023 Notes Flxed assets Tangible assets 12,979 14,659 Current assets Investments Cash at bank and in hand 10,000 17,638 24.970 27,638 24,970 Creditors: amounts falling due within one year (792) (756) Net current assets 26.846 24,214 Total net assets 39,825 38,873 Fund5 of the charity: Unrestricted funds 39,825 38,873 39,825 38.873 The financial statements on pages 5 to 10 were approved by the trustees on I l June 2025 and $ied on their behalf: J B Beaumont Chairnian
Page 7 BULKINGTON COMMUNITY LIBRARY CIO Notes to the Accounts for the year ended 31 December 2024 Accounting polieies 1.1 Basls of preparation - bAsis of aeeountlng These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless othenvise stated in the relevant notes to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice '. Accounting and Reporting by Charities preparing their accounts in accordance with th¢ Financial Reporting Stundard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014. with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011. The charity constitute5 a public benefit enlity a5 defined by FRS 102. 1.2 Golng concern Th¢ financial statemenls have been prepared on a going concern basis as the truste¢s believe thal no maierial uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months following approval of these financial statements and consider the charity will be able lo continue as a going concern. 1.3 Income Recognition of income All incoming resource5 are recognised once the charity has entitlement to the resources. il is certain that the resources will be received and monetary value of incoming resources Can be measured with sufficient reliability. 1.4 Fund accounting Details of the nature and purpose of each fund is set out in note l O. 1.5 Exptndlture and Ilabllitles Expenditure and liability recognition Liabilities are recOlsed as resources expended as soon as there is legal or constructive obligation committing the charity 10 the expenditure. All expenditure is account for on an accruals basis. 1.6 Tangible fixed a55ets for use by charity These are capilalised if they can be used for more than one year. They are valued at cost. Depreciation is recognised so as to write off the cost of assets over their useful lives on the following bases.. Leasehold Improvements Plant & Equipment Computer Equipment over 25 years on a straight line basis 15 % on a reducing balance basis 200/0 on a straight line basis
Page 8 BULKINGTON COMMUNITY LIBRARY CIO Notes to the Accounts for the year ended 31 December 2024 Donations and Legaeies 2024 2023 Donation - Friends of Bulkington Library Donations - other Legacies 917 339 1,000 1,530 1,530 2.256 Income from Charliable Actlvltles 2024 2023 Library operations Book sales Room hire Lottery income Sundry income 11,638 2.192 6,073 21 11,209 2,253 4,292 28 16 19,924 17,798 Cost$ of Operatlng Llbrary Servlce 2024 2023 Rates and water Light and heal Property repairs and maintenance Telephone Printing. postage and stationery Computer cosls Insurance Café consumables Window cleaning and cleaning materials Waste disposal Sundry expenses Christmas grotto expenses Accounlancy Depreciation 993 6,639 6,088 572 152 415 1,268 1,205 121 178 149 250 792 1,680 656 5,539 696 625 100 276 1,143 1,278 155 150 145 219 756 1,816 20,502 13,554
Page 9 BULKINGTON COMMUNITY LIBRARY CIO Notes to the Accounts for the year ended 31 December 2024 Tangible Assets Fixtures & Leasehold Computer Equipment Property Equipment Totxl COST At slart Additions Disposal 9,717 11,115 2,000 22,832 9,717 11,115 2,000 22,832 Depre¢lailon At start Charge for year Eliminalion re disposal 4,553 775 2,020 505 1,600 400 8,173 1,680 5,328 2,525 2,000 9,853 Net book value At start 5,164 9,095 400 14,659 At end 4,389 8,590 12,979 Curr¢nt asset Investment 2024 2023 Unity Trnst l year fixed bond i 0,000 CredAtors: 2mounts falling due within one year 2024 2023 Accruals 792 756
Page 10 BULKINGTON COMMUNITY LIBRARY CIO Notes to the Accounts for the year ended 31 December 2024 Trustees transactions, remuneratlon Ydnd expenses The trustees did not r¢c¢ive any remuneration during the period. There were no related party transactions during the year. Analysls of net a5set$ between funds Unrestrleted General R¢$trlcted Funds Total Fundg Fund5 Fixed assets Current assets Current liabilities 12,979 27.638 (792) 12,979 27,638 (792) Net assets al 31 December 2024 39,825 39,825 10 Funds Unrestricted gyeneral funds comprise those funds which the Irustees are free to use in accordance with the charitable objects.