Lympstone Village Hall
Charitable Incorporated Organisation
Charity Number 1187640
Report and Financial Statements for the year ended 31 March 2024
LYMPSTONE VILLAGE HALL CIO CONTENTS
| Charity Information | 3 |
|---|---|
| Trustees' Report | 4 to 5 |
| Statement of Trustees' Responsibilities | 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 to 13 |
Report and Financial Statements for the period 1 April 2023 to 31 March 2024
Lympstone Village Hall CIO Charity Number 1187640
Charity Information
Charity Address: School Hill Lympstone Exmouth EX8 5JY Trustees at 31 March 2024: Mr Gregor Crum (Chair) Mr Stephen Morgan (Treasurer) Ms Sharon Wayland (Secretary) Mrs Marjorie Brewer Mrs Anne Crisp Ms Jennifer Moon Ms Corinne Gimber Mr Keith Hill (Lympstone Parish Council representative) Ms Sheila Stone Mr Dick Francis Ms Emma Bushell Note that the following Trustees resigned during the period: Mrs Doreen Murray (Deputy Chair) Mrs Caron Winter Mr Paul Harradine Ms Mary Turner Bankers: Nat West plc, Exmouth Branch United Trust Bank Limited Independent Examiners: Thompson Jenner LLP, Exeter Website: www.lympstonevillagehall.org.uk
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LYMPSTONE VILLAGE HALL CIO
Trustee Report for the year ended 31 March 2024
FOREWORD BY GREGOR CRUM, CHAIRMAN
I am delighted to report on the activities of Lympstone Village Hall CIO, in its fourth full year of operation.
The Hall continues to play a significant and leading role in village community life.
Structure and Governance
The Trustees are pleased to present their Report and Financial Statements of the Charitable Incorporated Organisation, charity number 1187640.
The Board of Trustees are supported by a Management Team, and by a Premises Manager, Bookings Coordinator, and Cleaner. The Charity otherwise relies upon volunteer support.
Objectives and Activities
The Charity owns and manages Lympstone Village Hall, forming the very centre of village activities. The Hall consists of a single storey complex containing three letting rooms: Main Hall, Meeting Room and Community Room, in addition to a licensed bar and kitchen.
The complex is used by a wide range of village organisations for social, educational, artistic, and entertainment purposes. It is also used by semi-commercial organisations, for example exercise and keep fit classes. The Hall also hosts wedding receptions, and family parties.
The CIO continues to focus on its central purpose of providing high quality meeting and event spaces for the Lympstone community.
Achievements and Performance
The CIO increased its income from the hire of the hall's facilities from £52,000 in 2022-23 to £65,000 in 2023-24, a rise of 25%, and another record level of annual operating income for the Charity. The demand for the hall's excellent facilities continues to rise, and the three hall rooms are better utilised than ever.
As a result, the Trustees were able to part-fund the construction of the new self-contained tennis clubhouse. The total cost of the clubhouse was £35,000, with the CIO contributing 50%. The benefits to the CIO include the freeing up of the Meeting Room space, which is already attracting new hall users.
The other major capital project in 2023-24 was the building of a disabled access path between the hall building and the tennis courts. Upgrading the path was on the Trustees' radar as part of the Community Access Project, but the deteriorating condition of the old path led to acceleration of the design and construction phase. The total cost of this phase of the project was £15,441, with Lympstone Parish Council kindly granting £1,000.
The Trustees have set aside £10,000 for three more capital projects.
£6,000 for hall lighting £2,000 for new internal doors £2,000 for new commercial grade ovens
Other capital projects designed to further improve the hall's facilities are also being planned, but these will be funded from future charity surpluses and external grants.
Charity's Policy on Reserves
The CIO's reserves policy is to maintain a minimum sum of £35,000 for general running costs and other commitments, reflecting approximately 8 months' costs.
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| 2023-24 Unrestricted Funds | |
|---|---|
| £ | |
| General running costs up to 6 months | 35,000 |
| Project Development costs | 10,000 |
| Total | £45,000 |
| Ratio of Cash Reserves to normal Annual Operating Expenditure* | 80% |
*Excluding Major Capital Project costs
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
.........................................
Trustee
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LYMPSTONE VILLAGE HALL CIO STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on .................... and signed on its behalf by:
.........................................
Trustee
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LYMPSTONE VILLAGE HALL CIO
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LYMPSTONE VILLAGE HALL CIO
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024 which are set out on pages 3 to 13.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Lympstone Village Hall CIO 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 Lympstone Village Hall CIO'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 Lympstone Village Hall 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 accounting 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.
...................................... David Tucker FCCA Association of Chartered Certified Accountants
Thompson Jenner LLP Chartered Accountants 1 Colleton Crescent Exeter Devon EX2 4DG Date:.............................
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LYMPSTONE VILLAGE HALL CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 MARCH 2024
| Notes | Unrestricted | Restricted | 31-Mar-24 | 31-Mar-23 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| INCOME & ENDOWMENTS FROM; | |||||
| Donations and Grants | 2 | 1,032 | 15,395 | 16,427 | - |
| Charitable Activities | 3 | 64,977 | - | 64,977 | 52,188 |
| Interest Income | 1,385 | - | 1,385 | 443 | |
| TOTAL INCOME & ENDOWMENTS | 67,394 | 15,395 | 82,789 | 52,631 | |
| EXPENDITURE ON; | |||||
| Generating Funds | 4 | 83,379 | 15,395 | 98,774 | 45,249 |
| Charitable Activities | 5 | 600 | - | 600 | 600 |
| TOTAL EXPENDITURE | 83,979 | 15,395 | 99,374 | 45,849 | |
| NET INCOME BEFORE TRANSFERS | (16,585) | - | (16,585) | 6,782 | |
| Gross Transfers between funds | - | - | - | - | |
| NET MOVEMENT IN FUNDS | (16,585) | - | (16,585) | 6,782 | |
| TOTAL FUNDS BROUGHT FORWARDS | 662,751 | - | 662,751 | 655,969 | |
| TOTAL FUNDS CARRIED FORWARDS | 15 | 646,166 | - | 646,166 | 662,751 |
All activities derive from continuing operations
The notes on pages 10 to 13 form part of the financial statements
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BALANCE SHEET AS AT 31 MARCH 2024
| 31-Mar | 31-Mar | ||
|---|---|---|---|
| Notes | 2024 | 2023 | |
| £ | £ | ||
| FIXED ASSETS | |||
| Tangible assets | 11 | 601,042 | 608,475 |
| 601,042 | 608,475 | ||
| CURRENT ASSETS | |||
| Debtors | 12 | 3,165 | 5,751 |
| Cash at bank and in hand | 43,484 | 53,314 | |
| 46,649 | 59,065 | ||
| CREDITORS | |||
| Amounts falling due within one year | 13 | 1,525 | 4,789 |
| NET CURRENT ASSETS | 1,525 | 4,789 | |
| Creditors falling due after more than one year | 13 | - | - |
| NET ASSETS | 646,166 | 662,751 | |
| FUNDS | |||
| Unrestricted income fund | 15 | 646,166 | 662,751 |
| Restricted funds | - | - | |
| TOTAL FUNDS | 646,166 | 662,751 |
These accounts were approved by the Trustees on …………………... and signed on their behalf by:
Trustee
Mr Gregor Crum
The notes on pages 10 to 13 form part of these accounts
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2024
1 Accounting Policies
Statement of Compliance
The financial statements have been prepared in accordance with 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
These accounts show the Charity's activities for the 12 months ended 31 March 2024.
Going Concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and Legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Donations of gifts, services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Donations of gifts, services and facilities include seconded employees, IT software and office space. Seconded staff's services are provided free of charge to the charity and the cost of their salary is incurred by a third party. IT software and office space are included at ther estimate market value when donated.
Grants Receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Deferred Income
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
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The donor specifies that the grant or donation must only be used in future accounting periods; or
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The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Resources Expended
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Tangible Fixed Assets
Individual fixed assets costing £100 or more are initially recorded at cost.
Depreciation is provided on tangible fixed assets at the following annual rates in order to write off each asset over its estimated useful life:
Freehold land and buildings Not depreciated Fixtures, Fittings and Equipment 20%, 10% or 5% per annum straight line
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Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Funds
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the Charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
2 Income from Donations and Grants
| Donation from Lympstone Tennis Club Grant from Lympstone Parish Council 3 Income from Charitable Activities Hire of Hall to Little Ducklings Nursery Hire of Hall to other users Feed in Tariff - Solar Panels Other Income from Charitable Activities 4 Generating Funds Contractors' Fees Lympstone Tennis Clubhouse Project Disabled Access Ramp Project Other Costs Monetary Donation Hire of Hall to Devon County Council (Lympstone Primary School) |
Unrestricted Restricted Total Funds Total Funds Funds Funds 2024 2023 £ £ £ £ 32 - 32 - 15,395 15,395 - 1,000 - 1,000 - 1,032 15,395 16,427 - 14,230 - 14,230 14,150 15,979 - 15,979 5,739 32,687 - 32,687 27,692 2,081 - 2,081 2,222 - - - 2,385 64,977 - 64,977 52,188 Activities Undertaken Directly Support Costs 2024 2023 £ £ £ £ 22,307 - 22,307 14,525 31,032 - 31,032 2,897 15,441 - 15,441 - - 29,994 29,994 27,827 68,780 29,994 98,774 45,249 |
|---|---|
£15,395 of the expenditure relating to the Lympstone Tennis Clubhouse Project was restricted (2023:£nil.)
5 Expenditure on Charitable Activities
| Governance Independent Examination Fees |
600 0 600 600 600 0 600 600 |
|---|---|
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6 Allocation of Support Costs
| Method of Apportionment General expenses Usage Depreciation Usage Electricity and gas Usage Premises maintenance Usage Premises insurance Usage Legal Fees Usage Licences Usage Marketing, IT and website development Usage Postage, printing and stationery Usage Refuse collection Usage Subscriptions Usage Telephone and internet Usage Water and sewerage rates Usage |
Generating Funds Charitable Activities Governance 2024 Total Funds 2023 £ £ £ £ £ 258 - - 258 501 7,433 - - 7,433 8,812 6,928 - - 6,928 3,523 8,170 - - 8,170 9,728 1,746 - - 1,746 1,474 840 - - 840 - 1,507 - - 1,507 1,384 10 - - 10 150 - - - - 50 675 - - 675 646 643 - - 643 877 635 - - 635 277 1,149 - - 1,149 405 29,994 - - 29,994 27,827 |
|---|---|
7 Trustees Remuneration & Benefits
During the period no trustees received any remuneration.
Four trustees were reimbursed a total of £2,842.10 (2023: £nil) in relation to reclaimed expenses for equipment and maintenance during the year.
8 Independent Examination
The independent examiner will be paid £600, including VAT, to examine these accounts
9 Staff Costs
| Wages & Salaries Emplyers National Insurance (100% allowance) Employer Pension Contributions |
2024 2023 £ £ - - - - - - - - |
|---|---|
The average number of employees during the period was nil No employee received remuneration of over £60,000
The total employee benefits of the key management personnel of the charity were £nil
10 Taxation
The charity is a registered charity and is therefore exempt from taxation.
| 11 Tangible Fixed Assets as at 31 March 2024 Cost As at 1 April 2023 Additions Disposals As at 31 March 2024 Depreciation As at 1 April 2023 Charge for the year Disposals As at 31 March 2024 Net Book Value As at 1 April 2023 As at 31 March 2024 12 Debtors Hall Hire |
Fixtures, Freehold Fittings and buildings Equipment Total £ £ £ 580,660 82,116 662,776 - - - - - - 580,660 82,116 662,776 - 54,301 54,301 - 7,433 7,433 - - - - 61,734 61,734 580,660 27,815 608,475 580,660 20,382 601,042 2024 2023 £ £ 3,165 5,751 3,165 5,751 |
|---|---|
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| 13 Creditors Accruals Wedding Deposits Received in Advance Trade Creditors Amounts falling due after one year |
2024 2023 £ £ 600 600 - 3,398 925 791 1,525 4,789 - - - - |
|---|---|
14 Financial commitments and guarantees
The total amount of financial commitments not included in the balance sheet is £nil.
15 Funds
| Unrestricted Funds as at 31 March 2024 General Unrestricted Funds Designated Unrestricted Funds Fixed Asset Fund Project Development Fund Total Unrestricted Funds Total Restricted Funds Total Funds Unrestricted Funds as at 31 March 2023 General Unrestricted Funds Designated Unrestricted Funds Fixed Asset Fund Project Development Fund Total Unrestricted Funds Total Restricted Funds Total Funds |
Opening Incoming Resources Transfers Closing Balance Resources Expended Balance 01-Apr-23 31-Mar-24 £ £ £ £ £ 34,102 67,394 (63,805) (2,567) 35,124 608,475 - - (7,433) 601,042 20,174 - (20,174) 10,000 10,000 662,751 67,394 (83,979) - 646,166 - 15,395 (15,395) - - 662,751 82,789 (99,374) - 646,166 Opening Incoming Resources Transfers Closing Balance Resources Expended Balance 01-Apr-22 31-Mar-23 £ £ £ £ £ 31,126 52,631 45,849 (3,806) 34,102 - - 614,843 - - (6,368) 608,475 10,000 - - 10,174 20,174 655,969 52,631 45,849 - 662,751 - - - - - 655,969 52,631 45,849 - 662,751 |
|---|---|
All assets and liabilities as shown on the balance sheet are unrestricted.
16 Controlling entity
The charity is controlled by the Board of Trustees, supported by a Management Team.
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