Thatcham Memorial Foundation
ANNUAL REPORT
2021 – 2022
To include statement of accounts year ending 31[st] March 2022
A Charitable Incorporated Organisation Registered Charity Number: 1187212
Patron
Mr James Puxley CStJ His Majesty’s Lord-Lieutenant for the Royal County of Berkshire
Officers of the Foundation
Chairman: Mr Nathan Gregory Vice Chairman: Mr Nick Cornish Honorary Treasurer: Cllr Mike Cole
Board of Trustees
Community Trustees:
Mrs Sandra Bailey Mr Nick Cornish Mrs Jan Cover Mr Mike Farmer Mr Nathan Gregory Mr Richard Crumly Mr Adam Smith
Re – Elected: 23.09.2021 Re – Elected: 23.09.2021 Re – Elected: 23.09.2021 Re – Elected: 23.09.2021 Re – Elected: 23.09.2021 Elected: 23.09.2021 Resigned: 23.09.2021
Nominated Trustees:
Mrs Alli Pritchard 2[nd] Thatcham Scouts Mr Jim Wood Thatcham Bowling Club [Resigned: 16.03.2022] Mr Ian Borland BEM Thatcham Royal British Legion Mr Mike Brook Thatcham Tennis Club Cllr Mike Cole Thatcham Town Council Cllr Owen Jeffery West Berkshire Council [Resigned: 17.03.2022]
Registered Office
Thatcham Memorial Hall Brownsfield Bath Road Thatcham Berkshire RG18 3AG
Foundation Staff
Finance & Development Manager: Site Administrator: Caretaker:
Externally Purchased Services Agency Appointment Mr Gary Lewis
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
Bankers & Professional Advisers
Bankers: Metro Bank PLC 64 & 65, Northbrook Street Newbury Berkshire RG14 1AE Charities Aid Foundation c/o Shawbrook Bank Ltd 9, Appold Street London EC2A 2AP Investment Manager: BlackRock Investment Management (UK) Ltd 12, Throgmorton Avenue London EC2N 2DL Independent Examiner: Heslops Chartered Accountants 1, High Street Thatcham Berkshire RG19 3JG Solicitor: Gardner Leader LLP P Winbolt House The Broadway Thatcham Berkshire RG19 3HX Surveyor:[Haslams Surveyors LLP ] Country House 17, Friar Street Reading Berkshire RG1 1DB Health & Safety:[Peninsular Group Ltd ] Victoria Place Manchester M4 4FB
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
Constitution
Thatcham Memorial Foundation is a Charitable Incorporated Organisation, registered charity no. 1187212. The current charity and its constitution was sealed by the Commission on January 9[th] 2020. The organisation has existed in one guise or another since 1946, with the charity fulfilling its objectives when the land holdings were officially transferred on 19[th] February 1947. The Foundation’s governing document is written in respect of the Trust Deed dated 15[th] July 1948; this outlines the public subscription that acquired the land, purposes for which it should be used and the compliment of the original Committee of Management . Today the charity is managed by the Board of Trustees and its staff in accordance with the constitution - as its governing document - whilst operating within the 2011 Charities Act and observing the requirements and guidance of the Charity Commission as regulator.
A motion was ratified at the Annual General Meeting of September 23[rd] 2021 to close the previous unincorporated charity Memorial Hall & Playing Fields registered charity number 300214. This charity has now been placed on the register of mergers and acquisitions which will bring the charity to a close.
Charitable Aims & Public Benefit
Outlined in section 3 of the constitution “The object of the charity shall be to provide or assist in the provision of facilities to include a village hall and playing fields for the inhabitants of the Parish of Thatcham and the neighbourhood thereof, for recreation and other leisure-time occupation in the interests of social welfare.” As a Foundation and not a membership based organisation, the Charity does not have individual beneficiaries, rather the inhabitants within an area of benefit. The Area of Benefit has always been the Parish of Thatcham and surrounding areas, recently defined by the Seal of the Charity Commission as the Parishes of Thatcham, Ashford Hill with Headley, Brimpton, Bucklebury, Chievely, Cold Ash, Frilsham, Greenham, Hampstead Norreys, Hermitage, Midgham and Yattendon encompassing approximately 40,000 individuals. On a weekly basis the hall, lounge and associated facilities form the base of some 12 regular hirers including charities and community groups through to wellbeing classes; the hall continues to be used for birthday and anniversary parties. The basketball court and goal posts provide the focus of recreational sport on the playing fields with training space and organised competitive amateur sport increasing, with daily use by members of the public when organised events aren’t running.
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
Selection of Trustees
The Board of Trustees is comprised of 12 members. 6 nominated Trustees appointed by organisations and are referred to as the Site Partners . 6 Community Trustees are appointed by the Board of Trustees from candidates drawn for the local community. A poll of attendees at the Annual Public Meeting indicates the community trustees appointed to serves a 4 year term on the Board. Should vacancies for community trustees arise the Board will advertise and interview suitable candidate before appointment to the Board of Trustees.
Governance Arrangements
The Board of Trustees meets 4 times throughout the year. The Board is responsible for ensuring all statutory requirements are met by the charity as well as providing financial oversight and setting out the Foundation’s strategic direction. A set of smaller committees and task and finish groups are established through ratified standing orders, together with a schedule of delegated powers allowing areas of interest to be reviewed and given the proper supervision required. The Quorum of each sub group is 4 Trustees and a number have members of the public furthering the Trustees in delivering the Foundation’s aims.
The Foundation has 5 committees;
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Operations Committee; primarily addresses matters relating to the day-to-day running of the charity. The group also oversees the delivery of capital expenditure projects, HR matters and the implementation of Board resolved policy.
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Finance Committee; focuses on monitoring the accounts, recommendations of hire charges, regularly reviewing the Foundations financial regulations as well as reserve and investment policies.
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Events & Fundraising Committee; designs a programme of fundraising and commemorative events throughout the year, sourcing and providing volunteer support.
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Open Space Committee; focuses on the playing fields and other areas of outdoor space across the Foundation’s estate, ensuring the site is utilised and providing the maximum benefit to the community.
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War Memorial Committee; works on specific projects furthering the Foundations original purpose to remember the sacrifice of the fallen.
The Foundation has 4 task and finish groups:
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Staff and Admin; to ensure the smooth running of the office and the Foundation has the required level of staffing to operate efficiently.
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Play Area; to lead the consultation, design, fundraising and ultimately the building and sign off of the completed area prior to an official opening.
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Leasehold; act as the link between the current site partners who are tenants, the Board of Trustees, and professional advisers.
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Car Park; evaluating the current management contract for the War Memorial Car Park, producing tender requirements and interviewing potential contractors.
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
Report on the Foundation’s Activities
This report covers the period of time from April 2021 – September 2022. The following strategic priorities for the Foundation across the 2021 – 2022 year were agreed by the Board;
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To plan and execute a strategy for restarting full operations on site whilst continuing to build resilience within the operating model .
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To encourage organized sport back to the Playing Fields as per the charitable purposes of Foundation.
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To find a suitable commemoration of the Foundation’s 75[th] anniversary and HM Queen Elizabeth’s Platinum Jubilee that benefits the whole community.
As the country began to emerge from the pandemic the focus turned to resuming ‘normal’ operations. By September 2021 the majority of hirers had returned, including a number of interest groups meeting on a monthly basis targeting the more vulnerable members of the community. Unfortunately, 3 hirers were unable to return to the Memorial Hall, but the Foundation is pleased to welcome new hirers Jump 4 You and the Yume Project to our weekly timetable as long term users of the site.
Staffing levels changed during the pandemic with trustees exercising the provisions of the constitution and the 2011 Charities Act in order to pay a connected person to provide administrative support services; this agreement was monitored on a monthly basis and reviewed by the Board of Trustees quarterly. A task and finish group was formed to quantify the staffing support the Foundation needs to progress, resulting in 2 positions being formed; a Site Administrator - focusing on day to day operations and a Finance & Development Manager - a strategic position to ensure the Foundation meets its charitable purpose and continues striving for the community. A recruitment timetable is in place with both post holders targeted to be in place and trained by March 2023.
Over the course of the last 18 months the Foundation has worked closely with a variety of partners in an attempt to influence the Flood Alleviation Scheme that is designated for the site. A detailed design proposal is currently being drawn up with exploratory works commencing on site. Final designs and public consultation is due shortly prior to a planning application being submitted. The Foundation’s thanks go to the support of the late Stuart Clark for his co-operation and willingness to deliver a solution that would provide a series of improvements to the site.
During the review of the Foundation’s activities ahead of the incorporation of the charity, a series of tasks were detailed to ensure leases to site partners were sufficiently robust and met the requirements of both the Charity Commission and the relevant legislation. Negotiations restarted after the COVID-19 Pandemic with Thatcham Bowling Club and 2[nd] Thatcham Scout Group; the Board hopes these will come to fruition shortly.
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
Sport is at the heart of Thatcham Memorial Playing Fields and its original Trust Deed; the open space committee has used the flood alleviation scheme as the catalyst to audit the use of the site and look at new ways for the Foundation’s estate to provide the maximum benefit to the people of Thatcham and the surrounding areas. The Foundation’s thanks go to former trustee Adam Smith for undertaking consultations with local football clubs and producing a viability study and action plan to return organized football matches to the site in addition to coaching space. Pitches were implemented in late August 2022 through a partnership with Cold Ash Football Club and the purchase of appropriate goals were facilitated by Greenham Trust and the Peter Baker Foundation through the award of grants. At present pitches are booked across the weekend by 4 local grassroots clubs supporting football for both girls and boys.
The viability of Tennis Courts and its costs to the Foundation have increased over a number of years; over the past 3 years a small group of trustees have worked with the Tennis Club to find a new solution. Promoting casual tennis bookings and working to secure professional coaching have helped supplement the income from the Tennis Club. This led to the Foundation pursuing and signing an operating license with the National Tennis Association ; the agreement provides stable income to the Foundation, of which some is ring-fenced for improvements and resurfacing, along with a centralized booking platform. The agreement enshrines the pre-existing rights of Thatcham Tennis Club and to date the club reports the scheme is effective and supports their needs. The Foundation’s thanks must go to our former trustee Owen Jeffery and the co-operation of the Tennis Club Committee in achieving this goal.
2022 marks not only the Memorial Playing Fields 75[th] Anniversary but also the Platinum Jubilee of HM Queen Elizabeth II. Trustees were keen in 2021 to mark these occasions in a long lasting way that offers something to its beneficiaries. An application to West Berkshire Council’s CIL fund was made in summer 2021 to support a Platinum Jubilee Play Area ; an award of £75,000 was made towards funding the new children’s play area at the south of the Playing Fields. The Foundation’s thanks go to Cllr Owen Jeffery for his support of the application. Englefield Charitable Trust and Moto in the Community have made further contributions totaling £1,500 which have been subject to matched funding from Greenham Trust, this machined funding is up to £15,000. Additional pledges have been received from Thatcham Town Council and Thatcham Parochial Charities totaling a further £3,000. Public consultation took place in May and June to ensure that the community was involved with the design process of an inclusive scheme. It is expected that works will commence in November with completion due in early 2023. A bench to commemorate the 75 years of the Foundation benefitting the community will be placed within the play area.
The site was purchased and the memorial hall built as a living memorial to the fallen of two world wars; this is at the center of the work the Foundation undertakes and in the last 18 months over £3000 has been spent on new planters and general improvements to the area to impose the aesthetics dramatically. Summer and winter planting schemes were once again funded by the Foundation along with regular weekly maintenance of the grass and shrubs. The Foundation is grateful to the members of Thatcham Women’s Institute who have volunteered their time to plant bedding twice a year at the War Memorial.
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
The Foundation thanks Thatcham Branch of British Garden Centre for providing bedding at the War Memorial for a discount and Richard Crumly for tending the Roses over the last 18 months. Planning for the long term future of the garden will begin after the completion of the play area project. In November 2021 the site saw the welcomed return of a full scale Remembrance Sunday parade and service after the pandemic hit; in addition, there were services of commemoration on Armistice Day, the passing of Thatcham’s last resident WWII veteran and the 40[th] Anniversary of the Falklands Conflict.
The Foundations’ endeavors would not be possible without the work of the Events & Fundraising Committee and our thanks go to Jan Cover for leading this committee with the support of Jenny Lillycrop and Marigold Jaques. The group have supported three ‘Fun on the Field’ events over the last 18 months raising over £2000 to support the work of the Foundation. The organizing of the popular dog show at public events, along with a quiz raising funds for the War Memorial in February 2022 were the product of this groups efforts. In addition to these Fundraisers the group also lead our key events such as the Annual Public Meeting and this year organizing a Christmas Soiree to say thank you to the team of volunteers who support the charity throughout the year.
The Foundation is grateful to the public for their co-operation during the period in which the charity could not afford to empty litter bins, especially as they were being abused with large amounts of domestic waste being deposited. Prior to installing a smaller number of more up to date bins on site the Foundation and a its site partners took part in the Great British Spring Clean . Across the 2 week campaign 3 public litter picks were organized by Thatcham Women’s Institute, Thatcham Bowling Club and Thatcham Memorial Foundation on respective Saturdays, with various sections of the 2[nd] Thatcham Scout Group partaking as part of their usual weekly meetings. These combined efforts made a noticeable difference to the site and the importance of this display of good citizenship was noted by the High Sheriff of Berkshire, Ms Alka Kharbanda who attended the final day of the campaign to present certificates to each participating organization.
My personal thanks the Board, our staff and all the volunteers that have supported the charity throughout the pandemic and over the last year. Particular mention should go to Mike Cole who is stepping down after 2 years as acting Treasurer. The continuing support of Mike Farmer in the areas of Human Resources and Health & Safety should also be commended at this time.
N. M. Gregory Esq. Chairman 30[th] September 2022
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
THATCHAM MEMORIAL FOUNDATION REGISTERED CHARITY NUMBER 1187212
RECONCILIATION OF ACCOUNTS, TREASURER’S REPORT, AND STATEMENT FOR THE PERIOD 1 APRIL 2021 TO 31 MARCH 2022
| Description | Page |
|---|---|
| Treasurer’s Report | 9 |
| 2021/2022 Expenditure | 10 |
| 2021/2022 Income | 12 |
| Income and Expenditure Summary 2021/2022 | 13 |
| Assets and Liabilities 2021/2022 | 14 |
| Overall Balance Sheet 2021/2022 | 15 |
| Portfolio Investments | 16 |
| Notes to the Accounts | 17 |
| Independent Auditors Report | 18 |
Mike Cole Honorary Treasurer September 2022
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
Treasurer’s Report
The past year has been one of recovery for the finances of the charity post-pandemic. Revenue expenditure has been in line with previous year on year increases, the addition of some capital expenditure ensuring pedestrian safety and upgrading electricity supply leaves expenditure totalling £83,620.95
Hall hire has begun to reach the pre-covid levels of income however, with increases in charges this actually represents a reduction in hours of bookings across the year. Additional revenue streams have come from advertising the playing fields as a place for football training for both commercial skills based franchises and local amateur teams. Income totals £110,134.40
The in-year surplus of cash receipts over expenditure totals £51,476.28 was largely down to three non-reoccurring income streams:-
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The William House Room was hired to West Berkshire District Council [WBDC] through a government contract to house a COVID testing centre which totalled £14,080.00 in room hire charges.
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Business Continuity Grants administered by WBDC totalled £10,677.00 with a further £1,830.23 from the Coronavirus Job Retention Support Scheme to enable the flex furlough programme to be applied to staff. Government grants totalled £12,497.23
-
An encashment of the majority of the investments which are available to us (which do not form part of the original permanent endowment funds which should not be touched) brought in £24,962.83; a decision made by Trustees in December 2020 to bolster the Foundation’s operation as the Pandemic unfolded. The funds have subsequently been placed into the Capital Expenditure Reserve.
Disregarding income of £51,540.06 from these extraordinary factors, there is a minimal in year loss of £63.78, representing the most accurate appraisal of the Foundations operations.
It is worth noting that the Foundation needs to generate a surplus each year to create funds for reinvestment, repairs and renewals to the assets of the charity. To ensure that funds are identified and made available for future expenditures the Trustees have ring-fenced funds in a series of Earmarked Reserves. There will be further expenditure on projects (e.g. kitchen refurbishment) as and when funds are available, subject to keeping an adequate working balance and a prudent level of reserves.
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
| EXPENDITURE | 2021 – | 2022 | 2020 - | 2021 |
|---|---|---|---|---|
| Main Cat | Sub Cat | Main Cat | Sub Cat | |
| Human Resources | £34,994.52 | £32,776.59 | ||
| Finance & Development Manager1 | 25,045.00 | 17,930.00 | ||
| Site Administrator1 | - | 5,213.54 | ||
| Caretaker | 9,537.02 | 9,159.81 | ||
| Training | 60.00 | 71.96 | ||
| Relief Cleaner | 352.50 | - | ||
| HMRC2 | 0 | 401.28 | ||
| Utilities | £3,951.01 | £5,445.15 | ||
| Electricity | 2,048.31 | 2,691.53 | ||
| Solar Panels | 277.65 | 308.14 | ||
| Refuse | 1,078.66 | 1,550.69 | ||
| Water | 546.39 | 894.79 | ||
| Statutory | £5,851.60 | £5,428.74 | ||
| Insurance | 3,784.70 | 3,513.34 | ||
| Business Rates | 2,066.90 | 1,915.40 | ||
| Grounds Maintenance | £10,563.00 | £11,691.34 | ||
| Grass Cutting | 1,620.00 | 1,170.00 | ||
| Scofell Maintenance3 | - | 6,759.34 | ||
| General Maintenance3 | 5,094.00 | - | ||
| DogWaste and Litter Bins3 | 2,745.00 | - | ||
| Tree Works | 1,104.00 | 3,762.00 | ||
| War Memorial | £202.20 | £101.13 | ||
| Maintenance | 131.00 | |||
| Gardening& Plants | 71.20 | |||
| Professional Services | £2,950.00 | £2,220.00 | £2,220.00 | |
| Auditor | 900.00 | 900.00 | ||
| Solicitor | 2,050.00 | 1,320.00 | ||
| Health & Safety | £8,337.67 | £2,650.92 | ||
| Professional Advisers | 1,564.32 | - | ||
| Fire Safety | 112.69 | |||
| Equipment | 87.66 | |||
| SafetyBarriers on Footpath4 | 6,573.00 | - | ||
| Maintenance | £1,568.04 | £486.20 | ||
| Replacement DogBin | 399.38 | |||
| Replacement DogCompound Gate | 350.40 | |||
| BuildingMaintenance | 818.26 |
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
| Office | £1,797.56 | £1,486.92 | ||
|---|---|---|---|---|
| Equipment | 349.93 | |||
| Stationary | 432.44 | |||
| Uniform/PPE | 160.00 | |||
| Software/IT | 380.27 | |||
| AGM | 224.20 | |||
| Volunteer/Staff Gratuities | 144.39 | |||
| Sundry | 106.33 | |||
| Communications & Advertising | £2,883.90 | £1,094.62 | ||
| Telephone & Internet | 1,307.26 | |||
| Website | 1,195.76 | |||
| Zoom | 143.88 | |||
| Advertising | 237.00 | |||
| 2nd Thatcham Scouts | £1,209.60 | £322.00 | ||
| Professional Fees for Lease | 1,209.60 | 322.00 | ||
| Thatcham Bowling Club | £1,349.60 | £322.00 | ||
| Professional Fees for Lease | 1,209.60 | 322.00 | ||
| MeetingRoom Hire | 90.00 | - | ||
| Equipment | 50.00 | - | ||
| Tennis Courts | £3,326.70 | £322.00 | ||
| Professional Fees | 1,020.00 | 322.00 | ||
| ElectricityConnection to Courts | 2,306.70 | - | ||
| Capital Expenditure | £2,542.98 | £0.00 | ||
| ElectricityConsumer Unit | 1,942.98 | - | ||
| Storage Cabinets | 600.00 | - | ||
| Cleaning Supplies | £537.58 | £936.77 | ||
| Refundable Deposits | £1,525.00 | £880.00 | ||
| Fundraising Expenses | £29.99 | £184.00 | ||
| Total | £83,620.95 | £66,348.38 |
Notes.
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In accordance with the provisions of the Charities Act 2011 and Section 6 Clause 3 of the Foundation’s Constitution 2020 a connected person was paid to deliver administrative services to the charity. These service covered both roles.
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Due to contracted services and closer monitoring of the Caretakers hours the HMRC threshold for payments was not met.
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General maintenance and refuse collection formerly by one single contractor, broken down to individual accounts.
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Safety barriers on footpath.
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
| INCOME | 2021 – | 2022 | 2020 - | 2021 |
|---|---|---|---|---|
| Main Cat | Sub Cat | Main Cat | Sub Cat | |
| Dividend & Interest | £15,320.22 | £16,036.55 | ||
| Metro Bank | 39.87 | 182.60 | ||
| NewburyBuildingSociety | 27.50 | 54.76 | ||
| Blackrock | 15,252.85 | 15,799.19 | ||
| Grants | £12,997.23 | £35,913.47 | ||
| Business Continuity | 10,667.00 | 28,240.93 | ||
| Furlough | 1,830.23 | 5,872.54 | ||
| War Memorial | - | 1,800 | ||
| Tennis Courts | 500.00 | - | ||
| Memorial Hall Hire | £37,055.60 | £4,984.71 | ||
| Main Hall | 22,602.60 | 4,934.71 | ||
| Lounge | 273.00 | - | ||
| Storage | 100.00 | 50.00 | ||
| COVID-19 TestingCentre | 14,080.00 | - | ||
| Field Hire | £17,990.00 | £9,991.00 | ||
| Car Boot | 11,632.00 | 8,717.00 | ||
| Circus | 575.00 | - | ||
| Funfair | 600.00 | - | ||
| Football Training | 5,183.00 | 1,274.00 | ||
| 2nd Thatcham Scouts | £1,785.76 | £2,471.02 | ||
| Leasehold Rent | 1,137.76 | 1,137.76 | ||
| Sublet Commission | 648.00 | 1,333.25 | ||
| Thatcham Bowling Club | £10.00 | £10.00 | ||
| Leasehold Rent | 10.00 | 10.00 | ||
| Tennis Courts | £4,185.00 | £1,051.00 | ||
| Tennis Club Rent | 300.00 | 231.00 | ||
| Tennis Coaching | 180.00 | 535.00 | ||
| Casual Court Hire | 105.00 | 285.00 | ||
| NTA OperatingLicense | 3,600.00 | - | ||
| Other Leasehold Rent | £1,572.97 | £1,636.47 | ||
| Thames ValleyPolice Office | 1,561.50 | 1,625.00 | ||
| SSE Wayleaves | 11.47 | 11.47 | ||
| Fundraising | £1,788.43 | £916.46 | ||
| West Berkshire Lottery | 128.50 | 84.50 | ||
| DirectlyOrganised Events | 1356.83 | 831.96 | ||
| War MemorialQuiz | 303.10 | - |
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
| Donations | £787.50 | £199.54 | ||
|---|---|---|---|---|
| War Memorial | 85.00 | 50.00 | ||
| DogCompound Crowdfunder | - | 149.54 | ||
| Defibrillator | 700.00 | - | ||
| Local Artists | 2.50 | - | ||
| War Memorial Car Park | £15,541.69 | £7,243.19 | ||
| Refundable Deposits | £1,100.00 | £200.00 | ||
| TTC Water Recharge 2020-2021 | £1,575.08 | - | ||
| TOTAL | £110,134.40 | £80,653.41 |
Notes.
Recharges as in previous years paid by tenants have been deducted from expenditure to give a more accurate presentation.
Summary
| Income & Expenditure Summary | 2021 - 2022 | 2020 - 2021 |
|---|---|---|
| Income | 110,134.40 | 80,653.41 |
| Expenditure | 83,620.95 | 66,348.38 |
| Excess of income over Expenditure | 26,513.45 | 14,305.03 |
| Encashment of Investments | 24,962.83 | - |
| TOTAL | £51,476.28 | £14,305.03 |
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
Assets & Liabilities
Note: Figures on this page are rounded up or down to the nearest pound.
| Bank Accounts & Funds | 31.03.2022 | 31.03.2021 |
|---|---|---|
| Metro Bank | ||
| Current Account | £18,656 | £14,028 |
| General Reserve | £26,990 | £15,003 |
| Capital Expenditure Fund | £23,020 | - |
| Tennis Courts SinkingFund | £3,000 | - |
| War Memorial Earmarked Reserve | £5,304 | £5,001 |
| Defibrillator Earmarked Reserve | £1,200 | £702 |
| Maintenance Earmarked Reserve | £3,000 | - |
| Deposit Account | £5,513 | £5,500 |
| Charities Aid Foundation | ||
| EmergencyReserve | £20,096 | - |
| Newbury Building Society | ||
| EmergencyReserve | - | £15,068 |
| Total | £106,779 | £55,302 |
Newbury Building Society do not offer accounts to Charitable Incorporated Organisations and required the closure of the account. The funds were moved to a Charities Aid Foundation 60Day Account, managed by Shawcross Bank.
| Investments | 31.03.2022 | 31.03.2021 |
|---|---|---|
| Blackrock | £541,014 | £537,807 |
| 1981 Permanent Endowment1 | £494,331 | £468,225 |
| 1982 Recoupment Fund2 | £25,193 | £23,126 |
| 1992 Investment3 | £21,490 | £46,453 |
| Total | £541,014 | £537,807 |
Notes.
-
Fund created from the sale of land for the additional bungalows.
-
Money loaned from Permanent Endowment to pay for the building of the Memorial Hall, paid back between 1982 and 2007.
-
Investment of surplus funds in 1992 represented by 6757.199 units held in the Blackrock Equity Fund Income. Encashment of 3757.199 units resulting in £24,963 paid during year. 3000 units remain invested.
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
Note: Figures on this page are rounded up or down to the nearest pound.
| Fixed Assets | 31.03.2022 | 31.03.2021 |
|---|---|---|
| Memorial Hall[Inc Clock Tower] | £765,000 | £765,000 |
| Scout Hut | £482,140 | £482,140 |
| Bowls Clubhouse | £488,260 | £488,260 |
| War Memorial | £106,000 | £106,000 |
| Tennis Courts | £79,000 | £79,000 |
| Land | £000,001 | £000,001 |
| Total | £1,920,401 |
£1,920,401 |
Buildings as at September 2016 valuation by Mursell & Company (Newbury) Limited. Scout Hut, Bowls Clubhouse & Tennis Courts revalued in June 2019. Land has a notional value of ‘open space’ circa 7.5 acres as scheduled in the Scheme and Trust Deed. Revaluations will take place in the 2022 – 2023 financial year.
Overall Balance Sheet 31.03.2022
| Overall Balance Sheet | 31.03.2022 | 31.03.2021 |
|---|---|---|
| Metro Bank | £86,683 | £40,234 |
| Charities Aid Foundation | £20,096 | - |
| NewburyBuildingSociety | - | £15,068 |
| Portfolio Investments | £541,014 | £537,807 |
| Fixed Assets | £1,920,401 | £1,920,401 |
| Total | £2,568,194 |
£2,513,510 |
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
The Portfolio of Investments are administered by BlackRock Investment Management [UK] Limited. The accounts, funds, number of units and value as shown in the portfolios statement as of March 31[st] 2022 are shown below.
| Portfolio of Investments | No. Units | 31.03.2022 | 31.03.2021 |
|---|---|---|---|
| Blackrock | |||
| Charities EquityFund A Income | 62,386.096 | £446,895 | £414,992 |
| Charities Bond Fund A Income | 39,918.191 | £68,926 | £74,727 |
| Charities EquityFund Accumulating | 946.659 | £22,379 | £20,173 |
| Charities Bond Fund Accumulating | 56.070 | £2,814 | £2,952 |
| Encashment | 3,757.199 | - | £24,963 |
| Total | - | £541,014 | £537,807 |
Presentation of accounts, statements and bank reconciliation approved by Finance Committee on 19[th] August 2022.
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
Notes to the accounts
Responsibilities of the Board of Trustees
We are required under the Charities Act 1993 and successive legislation to prepare financial statement for each financial year which give a true and fair view of the Charity’s financial state, and of its results for the period. In preparing those financial accounts we are required to;
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable, for prudent purposes and activities of the Charity.
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Prepare the financial statement on a going concern basis unless it is inappropriate to presume the charity will continue.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable us to ensure that the financial statement comply with the Charities Act 1993 and successive legislation. We are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Accounting Policies
Accounting Convention:
The financial statements have been prepared under the historical cost conventions and in accordance with the Financial Reporting Standard for Smaller Entities [effective April 2008], the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Account and Reporting by Charities.
Incoming Resources:
All incoming resources are within the Income and Expenditure Summary when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources Expended:
Expenditure has been classified under specific headings that aggregate all cost related to that category. Where costs cannot be directly attributed to a particular heading they have been allocated to activities on a basis consistent with the use of resources.
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Thatcham Memorial Foundation, Annual Report 2021 – 2022
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THATCHAM MEMORIAL FOUNDATION
I report to the trustees on my examination of the accounts of the Thatcham Memorial Hall (Charity number 1187212) for the year ended 31.03.2022.
Responsibilities and basis of report
As the charity trustees of the Trust, you are responsible for the preparation 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 all 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 in connection with the examination giving me cause to believe that in any material respect:
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(1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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(2) the accounts do not accord with those records; or
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(3) the accounts do not comply with the applicable requirements concerning the form 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 attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
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Thatcham Memorial Foundation, Annual Report 2021 – 2022