**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: -
- Selected suitable accounting policies and applied them constantly;
- Observed the methods and principles in the Charities SORP;
- Made judgements and estimates that are reasonably prudent;
- Stated whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- Prepared the financial statements on a going concern basis.
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
T**otal 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.
- **(d)** The accounts have been prepared under the convention of a going concern, notwithstanding the negative reserves. The loans are long term and unsecured and may or may not be – subject to interest. Repayments of capital and interest are made only after all other liabilities have been discharged.
## 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**