The Clarence Hall Crickhowell
A company limited by guarantee: No 11971202 Charity Registration: No 1187701 (formerly 501687)
Report and Financial Statements
For the Year Ended 31 March 2024
Financial Statements for Year Ended 31 March 2024
The Clarence Hall Crickhowell
INDEX
| Contents | Page |
|---|---|
| Legal and Administrative Information | 2 |
| Report of the Members of the Committee | 3 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes forming part of the financial statements | 10 |
| Independent Examiner’s Report | 14 |
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Financial Statements for Year Ended 31 March 2024
The Clarence Hall Crickhowell
Report of the Trustees & Directors for the year ended 31 March 2023
The Board of Trustees presents its report and financial statements for the year ended 31 March 2024.
LEGAL AND ADMINISTRATIVE INFORMATION
| Charity Name & Company Name | The Clarence Hall Crickhowell |
|---|---|
| Charity Registration Number | 1187701 (formerly 501687) |
| Company Number | 11971202 |
| Operational Address | Beaufort Street |
| Crickhowell | |
| NP8 1BN | |
| Contact Address | c/o CRiC |
| Beaufort Street | |
| Crickhowell | |
| NP8 1BN | |
| Members of the Committee | |
| Mr C M Christy | Chairman |
| Mrs A Chamberlain | Secretary |
| Mr J E Goreing | Treasurer |
| Mr J Morris | |
| Mr M J Chamberlain | |
| Mr D Jeremiah | |
| Mr P H Williams | Retired 30 March 2024 |
| Mrs D I Winter | |
| Mr M H Davies | |
| Mr D H McInnes | |
| Ms Rebecca Games | |
| Mrs Samantha Ady | Retired 14 February 2024 |
| Custodian Trustee | Crickhowell Town Council |
| Bankers | Lloyds Bank |
| Abergavenny | |
| Monmouthshire | |
| Independent Examiner | Catherine A Williams Ltd |
| Chartered Accountants | |
| Crickhowell |
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Financial Statements for Year Ended 31 March 2024
The Clarence Hall Crickhowell
REPORT OF THE MEMBERS OF THE COMMITTEE
Governing Document
The organisation is a registered charity and was entered on the Register of Charities on 31 May 1973. As at 31 March 2019, the organisation had applied for registration as a company limited by guarantee. This registration was approved in April 2019 and a company registration number allocated, 11971202. The organisation was granted a new charity registration on 3 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 directors) are required to contribute an amount not exceeding £10 per member.
Patron
The Honourable Dame Shân Legge-Bourke DCVO has graciously agreed to continue as patron of the Clarence Hall Crickhowell.
Organisational structure
The Clarence Hall has 12 trustees out of a maximum of 12. Members of the Unitary Authority and other local organisations 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 organisation which is co-ordinated by the Chairman.
Recruitment and appointment of Trustees
Trustees are re-appointed each year at an Annual General Meeting. The next Annual General Meeting is scheduled for 13 November 2024.
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.
Staffing
The charity is mainly staffed by volunteers but does maintain one part time employee in the caretaker role.
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Financial Statements for Year Ended 31 March 2024
The Clarence Hall Crickhowell
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 set of formal policies have been prepared and adopted that cover all aspects of the organisation’s activities. These policies include:
Complaints Equality & Diversity Financial Health, Safety & Fire Safeguarding Welsh Language Whistleblowing
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.
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
This year has been marked by both challenges and notable achievements. The primary focus has been the success of various community events, alongside the ongoing redevelopment of the hall. By the end of the year, significant progress had been made, with the works nearing completion, although some areas still require final touches. During the period, we secured an additional £125,000 in grants to support the development, bringing the total spent on the alterations to £450,000.
These accomplishments would not have been possible without the unwavering dedication of our volunteers and trustees. We are deeply thankful for the financial support from our grant providers, without whom these transformative changes would not have been possible. We also
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Financial Statements for Year Ended 31 March 2024
The Clarence Hall Crickhowell
appreciate the strong backing from our community and the numerous suppliers who have provided invaluable assistance throughout the year.
Financial review
The extensive redevelopment has somewhat obscured the underlying financial performance of the Hall in the overall figures. Hall hire fees were impacted by the ongoing works, resulting in some groups choosing to use alternative venues during this period. Additionally, the loss of two tenants in the house reduced rental income. However, careful management and the reduction of overheads and other expenses helped offset some of the lost income. Regular fundraising efforts have provided a reliable and valuable source of income. Outside of the main project, we have limited our expenditure on non-essential premises work, which will likely result in increased maintenance needs in the coming years.
The organisation recorded a surplus of £9,676 on unrestricted funds and £99,673 on restricted funds for the year. The surplus in general funds has been largely due to income from office rents and successful fundraising efforts.
Principal funding sources
The organisation’s primary sources of funding during the year were grants, rental income from Clarence House Offices, and hall hire fees.
Investment and reserves policy
The charity has minimal reserves available for investment. Restricted funds are held in a separate bank account, and loan repayments continue to be prioritised from surplus income. Specific grants will be used strictly for their designated purposes. The charity follows a cautious reserves policy to ensure that it can meet its liabilities as they arise.
Plans for future periods
Our immediate goal is to complete phase one of the redevelopment and submit the required reports to our funders as part of the grant agreements.
Looking forward, we are committed to continuing the improvement of our facilities in order to remain a central part of the community. We plan to conduct a new community survey to gather input on which areas of further improvement should be prioritised in the next phase of development, ensuring that the hall can fully serve the needs of the community. Based on this feedback, we will begin planning for phase two and exploring funding options to support these future developments.
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Financial Statements for Year Ended 31 March 2024
The Clarence Hall Crickhowell
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 consistently;
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Observed the methods and principles in the Charities SORP;
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Made judgements and estimates that are reasonably prudent;
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Stated whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 2024 were approved by the Members of the Charity and Directors of the Company on 13 November 2024.
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 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.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 (2) of the Companies Act 2006.
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The Clarence Hall CrickhowÈll nantial Ststements for Year Ended 31 Marth 2024 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for. ensuring the company keeps accounting records which comply with Section 386. and ii. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year. and of its profit or loss for the financial year, in accorda nce with the requirements of section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as is applicable to the company. Signed on behalf of the trustees and directors of the Clarence Hall Crickhowell C M Christy Chairman
Financial Statements for Year Ended 31 March 2024
The Clarence Hall Crickhowell
STATEMENT OF FINANCIAL ACTIVITIES
(including Income & Expenditure Account) for the Year ended 31 March 2024
Charity No: 1187701
| Note | Unrestricted Funds |
Restricted Funds |
Total Funds | 2023 | |
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Income | |||||
| Incomingresources from | |||||
| Generated funds: | |||||
| Voluntary income | |||||
| Donations &grants | 125,800 | 125,800 | 251,806 | ||
| Interest | 503 | 503 | 265 | ||
| Activities for generating funds |
|||||
| Hall Hire | 19,203 | 19,203 | 22,812 | ||
| Office Rents | 12,590 | 12,590 | 16,893 | ||
| Fundraising | 5,263 | 5,263 | 5,785 | ||
| Internal lotteryincome | 3,825 | 3,825 | 3,550 | ||
| Total incoming reserves | 40,881 | 126,303 | 167,184 | 301,110 | |
| Expenditure | |||||
| Restoration, maintenance & associated costs: |
|||||
| Runningcosts | 25,681 | 25,681 | 26,536 | ||
| Repairs & renewals | 4,744 | 4,744 | 2,504 | ||
| Fund-raisingcosts | 780 | 780 | 900 | ||
| Depreciation | 1 & 4 | 26,630 | 26,630 | 16,971 | |
| Total resources expended | 31,205 | 26,630 | 57,835 | 46,912 | |
| Surplus, (deficit) foryear | 9,676 | 99,673 | 109,349 | 254,199 | |
| Reserves b/fwd | (12,179) | 303,286 | 291,107 | 36,908 | |
| Transfers from Internal Resources |
|||||
| Total reserves c/fwd | (2,503) | 402,959 | 400,456 | 291,107 | |
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The Clarence Hall Crickhowell Flnanclal Statements for Yèar End 31 March 2024 The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities. BALANCE SHEEf AS AT 31 MARCH 2024 Note Vnrestricted Funds Restricted Funds Total Funds 2023 Note F5xed Assets Leasehold improvements- New Build Leasehold improvements- Renovations 286,426 119,412 286,426 119,412 158,339 93,366 Total Fixed A55ets 405,838 405,838 251,705 Current Assets Stocks Debtors & Bank and cash 315 3.626 19.(K)7 315 3,626 38,928 937 1,097 68,316 re ments 19,921 Creditors.. amounts falllng due withln one year 11,551 22.8(K) 34,351 9,848 Net Current Assets 11,397 (2,879 8,518 60,502 Creditors: amounts falling due after more than one ear 13.9C(I 13,900 21,100 Net Assets Llabllltles 2,503 402,959 400,456 291,107 Accumulated funds Unrestricted funds Restricted funds Total funds io 2,5031 402.959 400.456 12,179 303,286 291,107 Approved by the trustees of the Clarence Hall Crickhowell on 13 November 2024 and slgned on their behalf by: C M Christy Chairman
Financial Statements for Year Ended 31 March 2024
The Clarence Hall Crickhowell
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 March 2024
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 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) Going Concern
The accounts have been prepared under the convention of a going concern. 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.
e) Fixed Assets
Depreciation is charged on the Leasehold Improvements to the building over a 10 year period for renovations and 25 years in the case of the new build extension.
f) Employees
The organisation employed one person in a part time role as caretaker.
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Financial Statements for Year Ended 31 March 2024
The Clarence Hall Crickhowell
2. Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred.
| Unrestricted 2024 |
Restricted 2024 |
Total 2024 |
2023 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Administration | 3,686 | 3,686 | 5,323 | |
| Overheads | 21,995 | 21,995 | 21,213 | |
| Repairs & renewals(Clarence Hall) | 4,744 | 4,744 | 2,504 | |
| Fundraisingcosts | 780 | 780 | 900 | |
| Depreciation | 26,630 | 26,630 | 16,971 | |
| Total costs | 31,205 | 26,630 | 57,835 | 46,912 |
3. Net Incoming Resources for the period ended 31 March 2024
The charity income for the year is as follows:
| Unrestricted 2024 |
Restricted 2024 |
Total 2024 |
2023 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Grants & donations | 125,800 | 125,800 | 251,806 | |
| Fundraising | 5,263 | 5,263 | 5,785 | |
| Other income | 503 | 503 | 265 | |
| Hall hire | 19,203 | 19,203 | 22,812 | |
| Office rents | 12,590 | 12,590 | 16,893 | |
| Surplus on internal lottery | 3,825 | 3,825 | 3,550 | |
| Total | 40,881 | 126,303 | 167,184 | 301,110 |
4. Trustee remuneration and 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 March 2024.
The two loans were made to the charity during the year 2020/2021 amounting to £21,000 each. One was a personal loan from the current Treasurer, the other loan contributed by the Chairman was via his company Forge House Investments Ltd. The loans are currently being repaid by monthly instalments. Interest may or may not be paid at a later date, depending on finances.
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Financial Statements for Year Ended 31 March 2024
The Clarence Hall Crickhowell
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 recognised by HM Revenue & Customs as a charitable company.
6. Tangible Fixed Assets
| Tangible Fixed Assets | |||
|---|---|---|---|
| Leasehold Improvements | |||
| New Build | Renovations | Total | |
| £ | £ | £ | |
| Openingbalance | 164,936 | 103,740 | 268,676 |
| Acquisitions | 140,296 | 40,467 | 180,763 |
| Disposals | - | - | - |
| Total | 305,232 | 144,207 | 449,439 |
| Depreciation b/fwd | (6,597) | (10,374) | (16,971) |
| Depreciation inperiod | (12,209) | (14,421) | (26,630) |
| Term inyears | 25 | 10 | |
| Closing balance | 286,426 | 119,412 | 405,838 |
The only fixed assets the charity owns are the Leasehold improvements currently being carried out. 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 organisation 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 March 1947 and confirmed by The Charity Commission under a sealed order dated 5 April 1973.
Currently, the charity is seeking to register the building in the name of The Clarence Hall Crickhowell.
7. Debtors
| Debtors | ||
|---|---|---|
| 2024 £ |
2023 £ |
|
| Sales invoices | 3,626 | 1,097 |
| Bad debtprovision | 0 | 0 |
| Prepayments | 0 | 0 |
| Debtors total | 3,626 | 1,097 |
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Financial Statements for Year Ended 31 March 2024
The Clarence Hall Crickhowell
8. Creditors: Amounts falling due within one year
| Creditors: Amounts falling due within one year | ||
|---|---|---|
| 2024 £ |
2023 £ |
|
| Deposits held | 170 | 400 |
| Provision lottery prizes | 341 | 341 |
| Trade creditors and accruals | 26,640 | 1,407 |
| Other creditors | 0 | 500 |
| Loans repayable within 1year | 7,200 | 7,200 |
| Creditors total | 34,351 | 9,848 |
9. Creditors due after more than one year
Mr C M Christy (Chairman), via his company, Forge House Investment Ltd, plus the current treasurer have financed the refurbishment of the Clarence House Offices. The loans are longterm 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 Funds |
Restricted Funds |
2024 Funds |
2023 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Fixed Assets | 405,838 | 405,838 | 251,705 | |
| Current Assets | 22,948 | 19,921 | 42,869 | 70,350 |
| Current liabilities | 11,551 | 22,800 | 34,351 | 9,848 |
| Net Current Assets | 11,397 | (2,879) | 8,518 | 60,502 |
| Creditors due after more than 1year | 13,900 | 0 | 13,900 | 21,100 |
| Net assets/liabilities as at 31 March 2024 | (2,503) | 402,959 | 400,456 | 291,107 |
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.
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The aarence Hzll Crlckhgwell Independefti Examinerf5 report to the board of Trustees on the preparntion ofthe unaudited statutory aceounts of The Clarence Hall Crickhowell, è company limited byguarantee with use of 'Llmited' exemptbon. We report to the charity trijstees, who are 3150 the directors of the company. on the examinauon of the company accounts for the year ended 31st March 2024, which are set i)ut on pa8es I to 13. RSCtive responslbllities of tThStees and examiner Your attention is drawn io the fact that thè charity has prepared the 3tc(yJnts In accordance with k£ounting and Reporting bv Charitie5 preparing their accounts in accordance with the F¢nancial Retw)rting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charitie5-. Statement of Recommended Pract5 issued on l Aprll 2005 which is referred to in the extant re8ulation5 but has been withdrawn. We understand that this has been dor in order for the accounts io provide a'true and fairf view in accordance with the Generalty Accepted Accountin8 Practice IGAAPI effectNe for a¢countiTrg perlLx15 bewnnin8 on or after l January 2015. As the tharit¢s trtee$ of the Company land also 11$ directors foi the purposes of ¢ompany lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Art 2CK)6 I'the 2CX)6 ACVI. Having satisfied ourselves that the acGount5 of the Company are not required to be audited under Part 16 of the 2CIJ6 Act and are eli8ible for Independent examinath)n. We report in respect of the examination of your charivs accounts as carried ov¢ under section 145 of the Charitie5 Act 2011 I'the 2011 Art'l. In carrying (wt our examlnation we have followed the Directions given by the Charlty Cornmission under section 145151 Ibl of the 2011 Act. The Chèrity's trustee5 are responsible for the prepar3tion of the accounts. The Charity's trustees con51der rhat an audll Is not requlred for thls year (under sectlon 144121 of the Charities Act 2011 Ithe 2011 Artl and that an Independent examlnation is needed. - exarnine ihe accounts under section 145 01 the 2011 Act.. - to follow the procedures laid d)wn in the Gener•1 Directions 8lven by the Charlty Commlssion under se¢tlon 14515llbl of the 2011 Att',and . to stste whether particular mattefs have come to rAr atteffitn Basls of the independent examlner's r•port Our examination was carried out in accordance wfrth the General directlons gwen by the Chartty Commlssloners, An examlnatlon includes a review of the accountlng rttords kept by the charity and a comparison of the accounts presented with those records. It also includes conslderètion of any Unusal items or disclosures in the accounts and seekin8 e¥planatlons from you as trustees concerning such matters. The Pr(re$ undertaken do n¢X provide all the eviderKe that would be required of an audit, and consequently we do not express an audit opIn)n on the view given by the accounts. Independent •x4miner's statement In the course of our exarnination, no matter has cgme toovrattention lother than that disclosed belowl.. IA) whlch give5 us aSOnable cause io belwe that kn. any material resFCL ihe trustees have not rnet the reqU1MentS to ensure that., ' proper è¢couTrtin8 records are kept in ac(ordan¢e vrith section 130 of the 2011 A¢t,' •fid accounts are prepared which a8ree wlth the accountsng records and comply with the a¢¢tnting requlrements of the 2011 A¢t', or IBI to whlch, In our opinion, attentlon 5htyJld drawn in orderto enable a pvoper understandin6 of the accounts to be reached. CatherineA Williarn5 Ltd Chartered Accountants The Old Bank Beaufort Street Crickhowell Powys NP8 IAD ..1.::.12024 Page 14