Thatcham Memorial Foundation
ANNUAL REPORT 2022 – 2023
To include statement of accounts year ending 31[st] March 2023
A Charitable Incorporated Organisation Registered Charity Number: 1187212
RECONCILIATION OF ACCOUNTS, TREASURER’S REPORT,AND STATEMENT FOR THE PERIOD 1 APRIL 2023 TO 31 MARCH 2023
| Description | Page |
|---|---|
| Treasurer’s Report | 14 |
| 2022/2023 Expenditure | 15 |
| 2022/2023 Income | 17 |
| Income and Expenditure Summary 2022/2023 | 18 |
| Assets and Liabilities 2022/2023 | 19 |
| Overall Balance Sheet 2022/2023 | 20 |
| Portfolio Investments | 21 |
| Notes to the Accounts | 22 |
| Independent Auditors Report | 23 |
Treasurer’s Report
Our finances have been affected this year by the cost of living crisis, which has increased the cost to us of many supplies and services, and which also affects our bookings. We decided not to increase Hall hire fees for Casual or Regular bookings as the hirers are themselves suffering from reduced take-up due to the cost of living. Also, holding prices for a year or two may improve our competitiveness against the many other public halls in Thatcham.
Trustees are very aware of the difficulties of breaking even from Hall hire; it may not be possible without significant reductions in running costs or an effective marketing plan. Both these avenues are being explored in the current year.
We have radically added to the number of accounts we hold with Metro Bank so as to maximise receipts from interest.
The tables following show a deficit for the year of £19,155 between income and expenditure. Inclusion of the Play Area grant money shows a phantom surplus of £82,340, but the grant can only be spent on the provision of the Play Area. This means that the £19,155 loss is the realistic figure for the year 2022-23.
Many thanks to Phil Dewsbury for his time-consuming work on overseeing our financial transactions for the last year, and indeed in this current year.
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Thatcham Memorial Foundation, Annual Report 2022 – 2023
| EXPENDITURE | 2022– 2023 | 2022– 2023 | 2021 | – 2022 |
|---|---|---|---|---|
| Main Cat | Sub Cat | Main Cat | Sub Cat | |
| Human Resources | £48,176 | £34,994.52 | ||
| Finance & Development Manager | £34,120 | 25,045.00 | ||
| Site Administrator | £3,452 | - | ||
| Caretaker | £10,017 | 9,537.02 | ||
| Training | £95 | 60.00 | ||
| Relief Cleaner | £373 | 352.50 | ||
| HMRC | £119 | 0 | ||
| Utilities | £5,357 | £3,951.01 | ||
| Electricity | £3,636 | 2,048.31 | ||
| Solar Panels1 | 277.65 | |||
| Refuse | £1,483 | 1,078.66 | ||
| Water | £238 | 546.39 | ||
| Statutory | £5,998 | £5,851.60 | ||
| Insurance | £3,446 | 3,784.70 | ||
| Business Rates | 2,552 | 2,066.90 | ||
| Grounds Maintenance | £8,200 | £10,563.00 | ||
| Grass Cutting | £3,150 | 1,620.00 | ||
| General Maintenance | £2,572 | 5,094.00 | ||
| DogWaste and Litter Bins | £2,478 | 2,745.00 | ||
| Tree Works | 1,104.00 | |||
| War Memorial | £2,244 | £202.20 | ||
| Maintenance | £584 | 131.00 | ||
| Equipment | £1,287 | |||
| Gardening& Plants | £374 | 71.20 | ||
| Professional Services | £1,890 | £2,950.00 | ||
| Auditor | £900 | 900.00 | ||
| Solicitor | £990 | 2,050.00 | ||
| Health & Safety | £3,142 | £8,337.67 | ||
| Professional Advisers | £1,564 | 1,564.32 | ||
| Fire Safety | £128 | 112.69 | ||
| Asbestos Safety | £474 | |||
| Equipment | £820 | 87.66 | ||
| SafetyBarriers on Footpath | £156 | 6,573.00 | ||
| Maintenance | £5,535 | £1,568.04 | ||
| Alarm | £347 | |||
| CCTV | £663 | |||
| Replacement DogBin | 399.38 | |||
| Replacement DogCompound Gate | 350.40 | |||
| BuildingMaintenance | £4,525 | 818.26 |
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Thatcham Memorial Foundation, Annual Report 2022 – 2023
| Office | £3,968 | £1,797.56 | ||
|---|---|---|---|---|
| Equipment | £1,036 | 349.93 | ||
| Stationary | £720 | 432.44 | ||
| Uniform/PPE | £140 | 160.00 | ||
| Software/IT | £587 | 380.27 | ||
| AGM | £658 | 224.20 | ||
| Volunteer/Staff Gratuities | £828 | 144.39 | ||
| Sundry | 106.33 | |||
| Communications & Advertising | £2,171 | £2,883.90 | ||
| Telephone & Internet | £1,456 | 1,307.26 | ||
| Website | £12 | 1,195.76 | ||
| Zoom | £144 | 143.88 | ||
| Advertising | £559 | 237.00 | ||
| 2nd Thatcham Scouts | £1,209.60 | |||
| Professional Fees for Lease | 1,209.60 | |||
| Thatcham Bowling Club | £2,832 | £1,349.60 | ||
| Professional Fees for Lease | £2,832 | 1,209.60 | ||
| MeetingRoom Hire | 90.00 | |||
| Equipment | 50.00 | |||
| Tennis Courts | £7,374 | £3,326.70 | ||
| Professional Fees | 1,020.00 | |||
| ElectricityConnection/Gate | £7,374 | 2,306.70 | ||
| Capital Expenditure | £25,637 | £2,542.98 | ||
| Container Units | £24,547 | |||
| CCTV Extension | £1,090 | |||
| ElectricityConsumer Unit | 1,942.98 | |||
| Storage Cabinets | 600.00 | |||
| Cleaning Supplies | £1,411 | £537.58 | ||
| Royal British Legion | £100 | |||
| Football Pitches | £500 | |||
| Refundable Deposits | £1,823 | £1,525.00 | ||
| Fundraising Expenses | £675 | £29.99 | ||
| Total | £127,033 | £83,620.95 |
Notes.
- The bill for Solar Panels is in dispute.
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Thatcham Memorial Foundation, Annual Report 2022 – 2023
| INCOME | 2021 | – 2022 | ||
|---|---|---|---|---|
| Main Cat | Sub Cat | Main Cat | Sub Cat | |
| Dividend & Interest | £17,397 | £15,320.22 | ||
| Metro Bank | £119 | 39.87 | ||
| Charities Aid Foundation | £66 | |||
| NewburyBuildingSociety | 27.50 | |||
| Blackrock | £17,212 | 15,252.85 | ||
| Grants | £9,600 | £12,997.23 | ||
| Business Continuity | 10,667.00 | |||
| Furlough | 1,830.23 | |||
| Tennis Courts | £7,374 | 500.00 | ||
| Football Pitches | £2,226 | |||
| Memorial Hall Hire | £30,457 | £37,055.60 | ||
| Main Hall | £28,057 | 22,602.60 | ||
| Lounge | £475 | 273.00 | ||
| Storage | £1,925 | 100.00 | ||
| COVID-19 TestingCentre | 14,080.00 | |||
| Field Hire | £19,249 | £17,990.00 | ||
| Car Boot | £12,223 | 11,632.00 | ||
| Circus | £675 | 575.00 | ||
| Funfair | £500 | 600.00 | ||
| Football Training | £5,851 | 5,183.00 | ||
| 2nd Thatcham Scouts | £1,338 | £1,785.76 | ||
| Leasehold Rent | £853 | 1,137.76 | ||
| Sublet Commission | £485 | 648.00 | ||
| Thatcham Bowling Club | £907 | £10.00 | ||
| Leasehold Rent | £760 | 10.00 | ||
| Sublet Commission | £147 | |||
| Tennis Courts | £2,700 | £4,185.00 | ||
| Tennis Club Rent | 300.00 | |||
| Tennis Coaching | 180.00 | |||
| Casual Court Hire | 105.00 | |||
| NTA OperatingLicense | £2,700 | 3,600.00 | ||
| Other Leasehold Rent | £1,229 | £1,572.97 | ||
| Thames ValleyPolice Office | £1,217 | 1,561.50 | ||
| SSE Wayleaves | £11 | 11.47 | ||
| Fundraising | £1,537 | £1,788.43 | ||
| West Berkshire Lottery | £75 | 128.50 | ||
| DirectlyOrganised Events | £1,154 | 1356.83 | ||
| War MemorialQuiz | £308 | 303.10 |
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Thatcham Memorial Foundation, Annual Report 2022 – 2023
| Donations | £108 | £787.50 | ||
|---|---|---|---|---|
| War Memorial | £108 | 85.00 | ||
| Defibrillator | 700.00 | |||
| Local Artists | 2.50 | |||
| War Memorial Car Park | £16,471 | £15,541.69 | ||
| Refundable Deposits | £2,800 | £1,100.00 | ||
| TTC Water Recharge 2020-2021 | £249 | £1,575.08 | ||
| Recharges | £3,464 | |||
| Asbestos Survey | £142 | |||
| Valuation | £142 | |||
| Water | £2,861 | |||
| Refunds | £320 | |||
| TOTAL | £107,826 | £110,134.40 |
| Play Area Project | Income | Expenditure |
|---|---|---|
| West Berkshire CIL Funding | 75,000.00 | |
| Good Exchange Match Funding | 14,557.04 | |
| Other Grants | 8,500.00 | |
| Thatcham Town Council S106 | 2,000.00 | |
| Donations and Sponsorship | 4,056.41 | |
| Security | -156.48 | |
| Groundworks | -2,462.40 | |
| TOTAL | £104,113.45 | -£2618.88 |
Summary
| Income & Expenditure Summary | 2022 – 2023 | 2021 - 2022 |
|---|---|---|
| Income | 107,826 | 110,134.40 |
| Expenditure | 127,033 | 83,620.95 |
| Excess of income over Expenditure | -(19,207) | 26,513.45 |
| Encashment of Investments | - | 24,962.83 |
| PlayArea Project Fund | 101,495 | - |
| TOTAL | £82,385 | £51,476.28 |
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Thatcham Memorial Foundation, Annual Report 2022 – 2023
Assets & Liabilities
Note: Figures on this page are rounded up or down to the nearest pound.
| Bank Accounts & Funds | 31.03.2023 | 31.03.2022 |
|---|---|---|
| Metro Bank | ||
| Current Account | £3,957 | £18,656 |
| General Reserve | £10,712 | £26,990 |
| Defibrillator Earmarked Reserve | £1,200 | £1,200 |
| Maintenance Earmarked Reserve | £5,000 | £3,000 |
| War Memorial Earmarked Reserve | £5,209 | £5,304 |
| RollingCapital Fund | £24,854 | £23,020 |
| PlayArea SinkingFund | £5,000 | - |
| Tennis Courts SinkingFund | £5,250 | £3,000 |
| Hirers’ Deposits | £5,000 | £5,513 |
| Charities Aid Foundation | ||
| EmergencyReserve | £20,161 | £20,096 |
| Total | £86,343 | £106,779 |
| Metro Bank | ||
| PlayArea Project Fund | £101,495 | - |
| Football Pitches Project Fund | £1,326 | - |
| Total | £102,821 |
- |
| Grand Total | £189,164 | £106,779 |
| Investments | 31.03.2023 | 31.03.2022 |
|---|---|---|
| Blackrock | ||
| 1981 Permanent Endowment1 | £479,909 | £494,331 |
| 1982 Recoupment Fund2 | £25,444 | £25,193 |
| 1992 Investment3 | £21,261 | £21,490 |
| Total | £526,614 | £541,014 |
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 was represented by 3000 units held in the Blackrock Equity Fund Income.
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Thatcham Memorial Foundation, Annual Report 2022 – 2023
Note: Figures on this page are rounded up or down to the nearest pound.
| Fixed Assets | 31.03.2023 | 31.03.2022 |
|---|---|---|
| Memorial Hall[Inc Clock Tower] | £917,632 | £765,000 |
| Scout Hut | £548,738 | £482,140 |
| Bowls Clubhouse | £667,627 | £488,260 |
| War Memorial | £207,054 | £106,000 |
| Tennis Courts | £57,245 | £79,000 |
| PlayArea | £106,000 | - |
| Total | £2,504,297 |
£1,920,401 |
Buildings as at May 2022 desktop re-valuation by Rebuild Cost Assessment Ltd. The play area was added in March 2023 after completion.
Overall Balance Sheet 31.03.2023
| Overall Balance Sheet | 31.03.2023 | 31.03.2022 |
|---|---|---|
| Metro Bank | £169,003 | £86,683 |
| Charities Aid Foundation | £20,161 | £20,096 |
| Portfolio Investments | £526,840 | £541,014 |
| Fixed Assets | £2,504,297 | £1,920,401 |
| Total | £3,220,301 |
£2,568,194 |
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Thatcham Memorial Foundation, Annual Report 2022 – 2023
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] 2023 are shown below.
| Portfolio of Investments | No. Units | 31.03.2023 | 31.03.2022 |
|---|---|---|---|
| Blackrock | |||
| Charities EquityFund A Income | 62,386.096 | £442,133 | £446,895 |
| Charities Bond Fund A Income | 39,918.191 | £59,037 | £68,926 |
| Charities EquityFund Accumulating | 946.659 | £22,938 | £22,379 |
| Charities Bond Fund Accumulating | 56.070 | £2,506 | £2,814 |
| Total | - | £526,614 | £541,014 |
Presentation of accounts, statements and bank reconciliation approved by Finance Committee on 25[th] August 2023.
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Thatcham Memorial Foundation, Annual Report 2022 – 2023
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;
-
Select suitable accounting policies and apply them consistently.
-
Make judgements and estimates that are reasonable, for prudent purposes and activities of the Charity.
-
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 2022 – 2023
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 31.03.2023.
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:
-
(1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
(2) the accounts do not accord with those records; or
-
(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 2022 – 2023
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