SHIPTON READING ROOM (CIO) TRUSTEES. REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Registered Charity No. 1187145
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 2024 LIST OF CONTENTS Page Legal and Administrative Information Report of theTrustees 2to5 Statement of Financial Activities Balance Sheet asof 31st December 2022
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 2024 LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr S Cooke (Chair) Mrj Harding (appointed 1st August 20241 Mr D Hellens Mr E Hughes (appointed 1st August 2024) Mr P Kealy Mr P Morgan (appointed 1st August 2024) Mr S Smith (Treasurer> MSJ Spiller (resigned 13th June 2024) Ms P Todd Charity Number 1187145 Principal Address Shipton Reading Room Shipton Oliffe Cheltenham GL544JQ Page I
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 20LV14 REPORT OF THE TRUSTEES ThoTrustees present their report and accountsfortheyear ended 31st December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the Charity'sgoverning document, the CharitiesAct 2011 and "Acc.ounting and Reporting by Charities: Statement of Recommended Practice applicableto char ities preparingtheir ciccounts in accordance with the Financial Reportingstandard applicable in the UK and Republic of Ireland (FRS I()2)" (asamended for accounting periodscommencingfrom l January 2016) Structure, governance and management Shipton Reading Room is a Charitable Incorporated Organisation (CIO) incorporated on 24th December LOI9. The charity is not politically aligned. TheTrustees who served duringtheyear were: Mrscooke Mrj Harding Mr D Hellens Mr E Hughes Mr P Kealy Mr P Morgan Mrssmith MSJ Spiller Ms PTodd All of theTrustees providetheir services free of charge. The Shipton Reading Room Trustees meet everytwo months and decisions are madi! on a simple majorit)I basis unless constitutional or legal requirements mandate a greater majority. None of theTrustees had a material interest in any contract of significanceto which the Charity was a party duringthe period. TheTrustees have assessed the major risks to which the Charity is exposed, and are fatisfied that systems are in placeto mitigate exposureto 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 oi"ientation, age, disability, nationality, raceor political, religious or other opinionsthe provision of facilitiesfor recreation or other leisuretime 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 orforthe public at large in the interests of social welfare and with the object of improvingthe conditions of life of the said inhabitaiits TheTrustees have paid due regard to guidance byThe Charity Commission in deciding what activities the Charity should undertake. Duringthe yearthe Reading Room Trusteesapplied for grant funding and I"aised incomethrough the rental of the hall as set out in the notesto the accounts. Page 2
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 2024 REPORT OF THE TRUSTEES (CONTINUED) The Charity's performance during the year Operations Thisyear saw theappointment of three newTrustees (John Harding, Ed Hughes, Pe:ter Morgan) and the resignation of Jayne Spiller. Wewish to formally thank and recognisethe contribution made byjayne during her tenure as a Trustee, particularly her organisation of many social events. Income raised solelyfrom Room Hirewasverysimilar thisyear (£3,939) to last year (£4,045 (includingthf> monies from grant hire)). The annual villagefete (Shipfest) and the ChristmasTractor Drive were, again, very.successful community f!vents centred around the Reading Room and important contributionsto our income stream. The monthly Coffeestops and Pop-up-Pub nights continueto be popular and provide uswith a regular in(=ome. Unfortunately, we have cancelled the Film Nights owing to limited and decline numbers attending. How&iver, a small Art Group has started in thevillage and are now a regular, weekly hirer. Other regular groups (yoga, Pilates, karate, quilters, knitwits and Church) continui! and duringtheyear wi! have added two additional yoga sessionswhich we hope will become regular hirers. Finance The detailed financial position of thecharity is as shown in thefinancial statemen'ls. Thisyear wewill takeforward a deficit of £416 and our bank balancewill reduce bythis amount to £25, 774. This isdue primarilyto theTrustees deciding in year to authorise a number of oneff expenditures on infi'astructure and equipment {details below). These spendswere authorised by theTrustees in committee in the knowledgethat they would adversely affect our in-year income/expenditure and rnay reduce our operational reserve. However, it wasfelt that the infrastructurespendswere esseritial and that the equipment would facilitatethe Coffee Stops and PUPS; ourtwo rregular income streams. The budget was also affecteij by an increase in cleaning costs from £16/hr to £25/hr. However, wewere unableto find a replacement cleaner for the I hr/week that we requirewithout payingthe increased sum. Page 3
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 2024 REPORT OF THE TRUSTEES (CONTINUED) Infrastructure The staining on the skirting boards has been monitored and has not deterioraied, Wewill Gontinueto monitor. The remote heating controls have bn updated and are now working asthey should. The audible alarm for the disabled toilet has been repositioned from thefoyer to within the Main Hall as it was observed that it could not be heard from within the main hall when it was in use. A number of loose stones have been repositioned and repointed alongthe bottom of the exterior rear walll. After 3 years of use, a working party of Trustees and Villagers have repainted the interior walls of the main hall, One-off Infrastructure and Equipment Purchases totalling £3,384: Installation of extra sockets in Kitchen for additional fridge and bar counter (£47 7) - Purchase of canvassesfor Photo Completion for Wall Decoration (£358) Purchaseof additional small Fridgefor hirer use (£129) Purchase of full size Fridgefor bar stock (£429) - Purchase of freezer for Coffee Stop stock (£632) - Purchase of Xpresso Coffee Machine for Coffee Stop (£400) Movingdisabled toilet alarm into main Hall (£510) Repair of exterior rear wall, stone replacing and repointing (£350) Risk Management TheTrustees have assessed the major risksto which the Charity is exposed in runningthefacility. We are i>atisfied that systems are in placeto manage and mitigate exposureto the risks identified. Conclusion Thisyear we have incurred a lot of expenses on equipment that will facilitatethe running of our variousfLinctions and aretherefore an investment in thefuture. Without these costswewould have madean operatingsurplus of £2,239 which would have been in linewith our intent to makea small profit of between £2000-£3000 per annum. Page 4
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 2024 REPORT OF THE TRUSTEES (CONTINUED) Financial Review The detailed financial position of the Charity is asshown in the Financial Statements. Incomefor theyear was£15,375 (including interest earned), which was almost the same as the previousyear. Room hire contributed £3,939. TheTrustees ran a number of fundraising events for the hall duringtheyear and this raised £5,307 net of costs, lower than the£6,223 raised last year. Expenditurefor theyear was £15,791. In addition, dueto a delay in submission of expenses from a mernber of theteam, therewere£748 of unpaid expensesfor cleaning (labour), consumables, and equipment and1Fundraising costs. Octopus Energy also invoiced us £728 in January for electricty costs from October 1st to Decemt>er 31st. As both amountswere not paid beforetheyear end they are included as liabilitiE!s in the balance sheet. Taking these into account the expenditure duringtheyear would have been £17,267. Total expenditurewas £'3,272 higher than last year (£4,748 with the additional unpaid expenses and energy bill). This increase in spend was mainly dueto investments in new equipment (approved duringtheyear by trustees) and maintenance i)f the building. The bank balance decreased between 2024 and 2023 by £416 as a result of these. investments making tlie bank balanceat theend of 2024 £25,774 compared to £26,191 attheend of 2023. The balancesheet decreased by £1,476 from £26,191 to £24,715. Aswell as th(3cash in the bank we hiDld £650 in bar stock. We haveliabilities of £233 for theArt Club who plan to use it in 2025 to host an event an(1 £748 for unpaid expenses. TheTrustees agreed to hold a reserveof £10,000 to cover approximately 12 moriths of operational cos1:s. The remaining£15,774 will be held to create a reserve for future capital expenditurp and renovation work<. Any surplus in futureyears will beadded to this reserveto ensurethe Charity ha:> sufficient funds shoulij significant repairs be required in thefuture. Page 5
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 2024 STATEMENT OF FINANCIAL ACTIVII"IES INCLUDING INCOME AND EXPENDITURE 14CCOUNT Total 2024 Total 2023 Income Room Hire Events and Fundraising Misc. income Interest Donations 3,939 11,021 20 247 148 15,375 3,145 11,974 38 88 166 15 411 Expenses Cleaning (materials) and consumables Electricity Water Insurance Licences and certification Equipment Sundries Internet Costsof fundraising Refunds Maintenance Operational Expenses 1,189 2,623 96 781 474 2,252 593 474 5,714 795 2,010 57 745 488 131 1,015 522 5,751 1,594 15,791 998 12,519 Net income 416 2891 Final construction payment Total Operational Expenses 9,060 21,579 15,791 Net incoming resourcesavailable 416 ,169 Page 6
SHIPTON READING ROOM YEAR ENDED 31 DECEMBER 2024 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 20.23 Assets Village Hall Original cost (Note l) 0.00 0.00 Current Assets Cash in hand and at bank Stock Total Assets Current Liabilities Art club Unpaid expenses Utility bill Total Liabilities 25,774 650 26,424 26,191 26,191 (233) (748) (728) (1,709) o.oci o.oci Movement in cash 416 -6,16C TOTAL NEfASSErs 24,715 26,191 Note I Theproperty was gifted to the Trustees by the original owne.rs at no charge Theaccounts were approved by theTrustees on 25th January 2025 Mrs Cooke Chair and Trustee Page 7