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2022-03-31-accounts

The Clarence Hall Crickhowell (A company limited by guarantee: No 11971202)

Charity Registration Number 1187701 (formerly 501687)

Report and Financial Statements For the Year Ended 31 March 2022

The Clarence Hall Crickhowell

Financial Statements
For the Year Ended 31 March 2022
Contents Page
Legal and Administrative Information 2
Report of the Members of the Committee 3 - 5
Statement of Financial Activities 6
Balance Sheet 7
Notes forming part of the financial statements 8 - 10
Independent Examiner’s Report 11

Page 1

The Clarence Hall Crickhowell

Report of the Trustees for the year ended 31 March 2022

The Board of Trustees presents its report and financial statements for the year ended 31 March 2022

Reference and Administrative Information

Charity Name: The Clarence Hall Crickhowell Charity registration number: 1187701 (formerly 501687) Operational address: Beaufort Street Crickhowell NP8 1BN Contact Address: C/O CRiC Beaufort Street Crickhowell Powys NP8 1BN

The Clarence Hall Crickhowell

Members of the Committee

Mr C M Christy Mrs A Chamberlain Mrs G O Williams

Chairman Secretary Treasurer (Retired 26/05/22)

Cllr J Morris Mr M J Chamberlain Mr D Jeremiah Mr P H Williams Mrs D I Winter Mr M H Davies Mr D H McInnes Mrs Rebecca Games

Appointed 10[th] February 2022

Custodian Trustee

Crickhowell Town Council

Bankers

Lloyds Bank Abergavenny Monmouthshire

Independent Examiner:

Catherine A Williams Ltd Chartered Accountants, Crickhowell

Page 2

Structure, Governance and Management

Governing Document

The organization is a registered charity and was entered on the Register of Charities on 31[st] May 1973. As at 31[st] March 2019 the organization had applied for registration as a company limited by guarantee, this registration was approved and a company registration number allocated 11971202 in April 2019. The organization was granted a new charity registration on 3[rd] February 2020, registration number 1187701.

The trustees of the charity are also directors of the limited company. In the event of the company being wound up, members (who are also the directors) are required to contribute an amount not exceeding £10 per member.

Patron

The Honorable Dame Shan Legge-Bourke DCVO has graciously agreed to become patron of The Clarence Hall Crickhowell.

Recruitment and Appointment of Trustees.

Trustees are re-appointed each year at Annual General Meeting which is held during May. The next Annual General Meeting is scheduled for May 25[th] 2022

Traditional technical, business and administrative skills are well represented on the Committee and in the event of particular skills being lost due to retirement - individuals would be approached to offer themselves for election.

Risk Management

The Committee is continually reviewing the major risks to which the charity is exposed and remedial action is taken where necessary. To this end, a revised set of formal policies have been prepared that cover all aspects of the organization’s activities.

Organizational Structure

The Clarence Hall has 11 trustees out of a maximum of 12. Members of the Unitary Authority and other local organizations are represented on the committee. The members meet regularly and are responsible for the strategic direction and policy of the charity.

A scheme of delegation is in place in respect of day-to-day administration of the activities of the organization - coordinated by the Chairman.

Page 3

Related Parties

In so far as it is complementary to the charity’s objects, the charity is guided by the local policies of Powys County Council, Cadw and the Brecon Beacons National Parks Authority.

Objectives and Activities

The company’s main object and principal activities are: - “The provision and maintenance of a village hall for the use of the inhabitants of the area formerly known as the Parish of Crickhowell (the area of benefit), without distinction of political, religious or other opinions, including the use for meetings, lectures and classes, and for other forms of recreation and leisure-time occupation, with the object of improving the conditions of life for the said inhabitants and purposes ancillary thereto”.

The land and buildings shall be held upon trust for the purposes of a village hall as aforesaid.

Achievements and Performance

The Charity was awarded a £100,000 Lottery Grant during the year ended, subject to sufficient funds being raised by the Clarence Hall Crickhowell itself. The year to 31[st] March 2022 has consequently been devoted to fund-raising. The trustees are pleased to report that many of the conditions attributed to the grant have been met: the trustees expect the remaining conditions will be met during the year 2022/2023. Once the funds are received phase 1 of the refurbishment will commence, (estimated to be winter 2022). Other routine repair and maintenance work carried out during the year was partially funded by grant aid (as shown in the financial statements).

The trustees express their appreciation for all the financial and other support received during the year, ranging from individuals, local charities and organizations to the various forms of government body.

Financial Review

The Organization can report a surplus of £7,845 on unrestricted funds and £57,186 on restricted funds. The surplus on general funds has been created with the income generated as a result of successful investment in the Clarence Hall Offices. The costs of investment were generously funded by two long-term and potentially interest free unsecured loans provided by the chairman of this charity (via his company Forge House Holdings) and a public benefactor.

To fulfill one of the grant conditions, £11,000 was transferred from the unrestricted funds to restricted funds, thereby creating an operating deficit of 3,185

Principal Funding Sources

The company’s principal funding source during the year consisted of grants received: rents received from Clarence House Offices and Hall hire

Investment and Reserves Policy

The charity has little in the way of reserves to invest. Restricted funds are retained in a dedicated bank account. Loan repayments continue to be a priority for surplus income, and specific grants will be used for the purpose designated in any application. The charity adopts a prudent approach toward its reserves to ensure that it meets its liabilities as they fall due.

Page 4

Plans for Future Periods

The charity has ambitious plans for the future of the Clarence Hall. Architect’s plans have been drafted but the fulfillment of all these aims will require funding. Of necessity therefore, the work will be conducted in phases. It is hoped that phase1 will commence before the end of 2022. Responsibility of Trustees in respect of Financial Statements

The Charity’s trustees are aware of their responsibilities for the preparation of accounts. The trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act) and that an independent examination is needed.

The trustees are responsible for preparing the trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards.

Charity law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of the affairs of the charitable company and of incoming resources and application of resources, including the income and expenditure of the period. In preparing the financial statements, the trustees have therefore: -

The trustees acknowledge their responsibility for keeping proper accounting records that disclose with reasonable accuracy at any time – the financial position of the charity, and to enable them to ensure that the financial statements comply with the Companies Act 2006.

The trustees further acknowledge their responsibilities for safe-guarding the company’s assets and take reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of The Members of the Management Committee

The financial statements for the year ended 31 March 2022 were approved by the Members of the Charity on 25[th] May 2022

In approving these financial statements as trustees of the company we hereby confirm that:

The charity’s trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (the Act).

Proper accounting records are kept in accordance with section 130 of the Charities Act.

The charity’s trustees consider that an audit is not required for this year under section 144 of the Act, however the trustees consider that an Independent Examiner’s Report is required.

Signed on behalf of the trustees of the Clarence Hall Crickhowell

C M Christy – Chairman

Page 5

The Clarence Hall Crickhowell Statement of Financial Activities (including Income & Expenditure Account) for the

Year ended 31 March 2022

Note
Note
Income
Incoming resources from
Generated funds:
Voluntary income
Donations and grants
Activities for generating
funds
Hall Hire
Office Rents
Fundraising
Surplus on internal lottery
Other income
Total incoming resources
Expenditure
Restoration, maintenance and
Associated costs:
Running costs
Repairs & Renewals
Fund-raising costs
Total resources expended
Surplus, (deficit) for year
Reserves b/fwd.
Transfers from Internal Resources
Total reserves c/fwd.		 Charity No. 1187701:
Unrestricted Restricted
Funds
Funds
£
£
3,22 4
5,180
16,566

14,502
63,655
660
nil
34,952
68,835
20,798
24
6,309
7,820
3,805
27,107 11,649
7,845 57,186
(28,123) 0
(11,000) 11,000
(31,278)
68,186		 Total
Funds
£
8,404
16,566
14,502
63,655
660
nil
103,787
20,822
14,129
3,805
38,756
65,031
(28,123)
36,908
 Total Funds
2021
£
24,047
4,977
1,590
nil
256
399
31,269
16,077
40,600
nil
56,677
(25,408)
( 2,715)

(28,123)

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

Page 6

The Clarence Hall Crickhowell

Balance Sheet as at 31 March 2022

Notes
Current Assets
Stocks
Debtors & Prepayments
Bank and cash		 Unrestricted
Funds
£
862
1,347
5,809		 Restricted
Funds
£
68,186		 Total
Total Funds
2022
2021
£
862
1,347
73,995
16,456		 Total
Total Funds
2022
2021
£
862
1,347
73,995
16,456		 Total
Total Funds
2022
2021
£
862
1,347
73,995
16,456
Creditors: amounts falling
Due within one year
8		 8,018
10,996		 68,186
 76,204
10,996		 16,456
6,719
Net Current Assets
Creditors: amounts falling
After more than one year
9
38,400
Net Assets/(Liabilities)
Accumulated funds
Unrestricted funds
9
Restricted Funds
Total Funds		 (2,978)
28,300
(31,278)		 68,186

68,186


 65,208
28,300
36,908
(31,278)

68,186
36,908
 10,277
38,400
(28,123)
(28,123)
(28,123)

Approved by the trustees of The Clarence Hall Crickhowell on 23[rd] May 2022 and signed on their behalf by: -

C M Christy Chair

Page 7

Notes forming part of the Financial Statements for the year ended 31 March 2022

1. Accounting Policies

(a) Basis of measurement and preparation of accounts

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) issued on 16[th] July 2014 and the Charities Act 2011.

(b)

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor.

(c ) Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Rents and hire charges are included in full in the Statement of Financial Activities when receivable.

Grants, Donations and Bank interest are included when received.

2. Resources expended

Expenditure is recognized on an accruals basis as a liability is incurred.

Administration
Overheads
Refurbishment costs (Clarence Offices)
Repairs & renewals (Clarence Hall)
Fund raising costs
Total Costs
 2022
Unrestricted
£
6,916
13,882
6,309
27,107		 Restricted
£
24
7,820

3,805
11,649		 2021
£
6,043
8,508
40,600
1,526
56,677

Page 8

3. Net Incoming Resources for the Period ended 31[st] March 2022

The Charity income for the year is as follows: -

Unrestricted
Restricted
£
£
Grants & donations
3,224
Fund raising
68,835
Other income
Hall hire
16,566
Office rents
14,502
Surplus on internal lottery
660
Total
34,952
68,385		 2021
£
24,047
399
4,977
1,590
256
31,269

4 . Trustee Remuneration & Related Party Transaction

No member of the committee received any remuneration or re-imbursement of travel costs during the year and no member of the committee had any personal interest in any contract or transaction entered into by the charity during the year ended 31[st] March 2022.

The two loans were made to the charity during the year 2020/2021 amounting to £21,000 each. One was a personal loan from a local benefactor, the other loan contributed by the chairman was via his company Forge House Investments Ltd. The loans are currently being repaid by monthly installments. Interest may or may not be – paid at a later date, dependent on finances.

5.

Taxation

The Clarence Hall Crickhowell has no taxation liabilities. The Clarence Hall Crickhowell is a charity for tax purposes in line with Paragraph 1 of Schedule 6 Finance Act 2010 and is recognized by HM Revenue & Customs as a charitable company.

6.

Tangible Fixed Assets

The charity owns no tangible fixed assets. The Clarence Hall building that it administers and maintains is a non-saleable asset vested in the trustees of the Clarence Hall. In the unlikely event of the organization’s ceasing to operate, the land and buildings must be handed over to Crickhowell Town Council under the terms of a deed of conveyance dated 31[st] March 1947 and confirmed by the Charities Commission under a sealed order dated 5[th] April 1973.

Currently, the charity is seeking to register the building in the name of The Clarence Hall Crickhowell.

7.

Debtors 2022 2021
£ £
Sales invoices 1,398 nil
Bad debt provision (150)
Cleaning paid in advance 100
Debtors total 1,348

Page 9

8. Creditors: Amounts falling due within one year

2022 2021
Deposits held 1,106
541
Provision lottery prizes 341 208
Trade creditors and accruals 2,349 1,830
Loans repayable within 1 year 7,200 3,600
Total 10,996 6,179

9. Creditors due after more than one year:

Mr C M Christy (chairman), via his company Forge House Investments Ltd, plus a local public benefactor have financed the refurbishment of the Clarence House Offices. The loans are long-term and unsecured: only repayable when surplus rents are achieved or when grant funding is received. Loan interest is 1% per annum and only payable as and when funds are available: to date no interest has been paid or accrued. Both lenders are aware that in the unlikely event that the charity ceases to operate, the balance will be repaid out of available funds once preferential creditors have been paid.

10. Analysis of Net Assets Between Funds

Unrestricted Restricted 2022 2021
Funds Funds Funds
Current assets 8,018 68,186 76,204 16,456
Current liabilities 10,996 10,996 6,179
Net Current assets ( 2,978) 68,186 65,208 10,277
Creditors due after more
than one year: 28,300 28,300 38,400
Net Assets/(Liabilities) (31,278) 68,186 36,908 (28,123)
As at 31stMarch 2022

11. Legal Status of the Charity

The Clarence Hall Crickhowell is a registered charity and a company limited by guarantee with the use of “Limited” exemption.

Page 10