Shipton Reading Room CIO TRUSTEES' REPORT AND AUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
Registered Charity No. 1187145
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 2021
LIST OF CONTENTS
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Report of the Trustees | 2 to 4 |
| Independent Examiner's Report to the Trustees | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet as of 31st December 2021 | 7 |
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 2020
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr S Cooke Mr P Kealy Ms S Livesey (Chair) Ms G Potts Mr S Smith Ms J Spiller Charity Number 1187145 Principal Address Shipton Reading Room Shipton Oliffe Cheltenham GL54 4JQ Independent Examiner Mr Steve Harry Roberts
Page 1
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 2021
REPORT OF THE TRUSTEES
The Trustees present their report and accounts for the year ended 31st December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016)
Structure, governance and management
Shipton Reading Room is a Charitable Incorporated Organisation (CIO) incorporated on 24th December 2019.
The charity is not politically aligned.
The Trustees who served during the year were: Mr S Cooke Mr P Kealy Ms S Livesey (Chair) Mrs C Robinson Mr H Thurbon Mrs C Walsh
All of the Trustees provide their services free of charge.
The Shipton Reading Room Trustees meet every two months and decisions are made on a simple majority basis unless constitutional or legal requirements mandate a greater majority.
None of the Trustees had a material interest in any contract of significance to which the Charity was a party during the period.
The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to major risks.
Objectives and activities
The Objects of the CIO are to establish and run a village hall and to promote for the benefit of the inhabitants of the Parish of Shipton (Shipton Oliffe, Shipton Solers and Hampen) 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
The Trustees have paid due regard to guidance by The Charity Commission in deciding what activities the Charity should undertake. During the year the Reading Room Trustees applied for grant funding and raised income through the rental of the hall as set out in the notes to the accounts. The Trustees also managed a major renovation of the Reading Room.
Page 2
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 2021
REPORT OF THE TRUSTEES (CONTINUED)
The Charity's performance during the year
The Reading Room was out of action for the majority of the year in part due to Covid, but mainly because we commenced our major Renovation and Extension Project. This commenced on the 8th March and the contract completed on the 12th October. The trustees had some initial work to do to enable the building for public use and we reopened on the 26th October. The project had been somewhat delayed due to the construction shortages and the impact of Covid but the project was completed within budget and to a very high standard.
We now have a much improved, modern and welcoming facility which will serve the community for many decades to come and has been very much welcomed by residents.
Bookings for the renovated Reading Room were looking good with the festive season up and coming but unfortunately due to the Omicron Covid outbreak, many bookings were cancelled.
Page 3
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 2021 REPORT OF THE TRUSTEES {CONTINUED) Flnanclal Revlew The detalled financial position of the Charity is as shown In the Flnanclal Statements. The malority of the Income and expenditure for the year relates to the Renovation and Extenslon Project. Income came in the form of grants drawn down ancl the Public Works Loan IPWLI monies gifted by Shipton Parish Councll. We also applied for. and received, Covid related impact grants totallin8 £10,096. Income from bookings was SiBnificantly lower than previous years due to the premlses being Out of use and the impact of Covid. On the 31st of December 2020 the first £170,(X)O of a Public Works Loan was received from the Parish Council. It should be noted that this money only went into the bank accounts on 3Jst December 2020 and was not shown as income in the 2020 accounts, It does of CQUfSe, appear as part of the income in 2021 along with the other Public Works Loan received in 2021. Now that the finances hove settled back to the normal pattern of income and expenditure related to the running of the hall, the Trustees will determlne a policy ol holdlng reserves. The TrLSStees conslder the flnances of the Charity to be Satisfactory. On behalf of the board of Trustees Ms S Livesey Chair and Trustee Dated.. Pa8e 4
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 2021 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF Shipton Reading Room I report on the accounts of the Shipton Reading Room for the year ended 31st December 2021, which are set out on pages 6 and 7. Respectlve responslbllltles of Trustees and Examlner The charity's Trustees are responslble for the preparatlon of the accounts. The charity's trustees consider that an independent audit is required for this period under section 144121 of the Charities Act 2011 Ithe 2011 Act) and that an independent examination is needed. It Is my responslblllty to.. lil examine the accosjnts under section 145 of the 2011 Act,. lill to follow the procedures laid down in the General Directlons glven by The Charlty Commission under section 145151 Ibl of the 2011 Act- and liiil to state whether particular matters have come to my attention. Basls of Independent Examlner's Report My examination was carried out in accordance with the General Dirertions given by the Charitv Commission. An examination includes a review of the accountin8 records kept by the Charlty and a comparison of the accounts presented with those records. It also includes conslderation of any unusual items or disclosures in the aceounts, and seekin8 explanations from you as Trustees concerninB any such matters. The procedures undertaken do not provlde all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report Is limited to those matters set out in the statement below. Independenl Examlner's Statement In connection with my examination, no matter has come to my attention - lal which gives me reasonable cause to believe that in any material respect the requlrements lil to keep accounting records in accordance with section 130 of the 2011 Act,. and lill to prepare accoL*nts which accord with the accountlng records and comply wlth the accounting requirements of the 2011 Act; have not been met,. or Ibl to whlch, In my oplnlon, attentlon should be drawn In order to enable a proper understandlng of the accounts to be reached. INSERT NAME Slgned.. (TÉ£) HA2ty t2dJUtrJ Dated.. LFi&IzL Paqe 5
SHIPTON READING ROOM
YEAR ENDED 31 DECEMBER 2021
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
| Income Room Hire Grants (restricted) Public Works Loan Events and Fundraising Misc. income Refunds Donations Expenses Cleaning (materials) and consumables Electricity Water Insurance Licences and certification Administration Sundries Internet Refunds Costs of fundraising Architect fees Legal costs Preparatory building works Construction and materials Total Operational Expenses Net incoming resources available |
Total Total 2021 2020 £ £ £463.00 £355.00 £103,518.00 £0.00 £280,000.00 £335.12 £123.38 £33.80 £0.00 £803.36 £0.00 £248.94 £0.00 |
|---|---|
| £385,402.22 £478.38 |
|
| £180.36 £104.00 £321.29 £522.86 £34.48 £60.00 £1,268.87 £739.20 £113.64 £7.40 £196.35 £0.00 £81.97 £0.00 £60.00 |
|
| £100.80 £0.00 £1,572.00 £1,034.00 £1,406.00 £1,010.40 £2,760.00 £358,073.45 £0.00 |
|
| £362,839.97 £6,807.10 |
|
| £22,562.25 -£6,328.72 |
Page 6
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 2021 BALANCE SHEET AS AT 31 December 2021 2021 2020 Assets Village Hall Original cost (Note l) 0.00 Current Assets Cash in hand and at bank Current Liabilitles 28,546 5,984 0.00 0.00 28,546 5,984 TOTAL NET ASSETS Represented by Capitol and retairted Surplus 28,546 5984 Note I The property wa5 gifted to the Trustees by the origAnol owners ot no ¢hor9e The a¢count5 were approved by the Trustees on 4th August 2022 Ms S J Livesey Chair and Trustee Page 7