Trustees. Annual Report for the period Period start date Period end dale From Ap 2022 To 31 March 2023 Section A Reference and administration details Charity name ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE Other names charity is known by THORPE HALL Registered charity number {if any) 1189935 Charity's principal address MUSKETh DRIVE ASHWELLTHORPE NORFOLK Postcode NR16 1FD Names of the charity trustees who manage the charity Trustse nam¢ Offie• Irf any) Dates acted rf not for whole year Name of per¥on lor body) entitled to appoint trustee ifan James Ethard Milk Tntstee IFKm01 Xooi lan Bishop TrusieÈ (Frrm 15 JTh2ml Dr Dav JeffeFie5 Tru51ee IFr<m IsJTh•2O201 Linda Margaret Mea Trustee IFrt¥hQi p&hwrthi2(É%)I Dr Christopher Alkn EaSthL1 Chair (Frw 15kn¢20a) Eloabelh Esthef Franey Trustee IFromOI FMthrV)20 Nicholas Char$ Ivatt de Stx)n Truslee IFrrTh 15knB2ml 10 Jaqueline Ives Trustee IFfW iaC*tyw21I 12 13 14 15 16 17 18 19 Names of the trustees for the charity, rf any, (for example, any custodian trustees) Name Dates acted if not for whole ear TAR Mard) 2012
Names and addresses of advisers (Optional infomlation e of adviser Name Address Name of Chief executive or names of senior staff members (Optional infomiation} Section B Structure, overnance and mana ement Description of the ¢harity's trusts CIO - FOUNDATION Registered 15 Jun 2020 Type of governing document How the charity is constituted cio Trustee selection methods By Appointment Additional governance issues (Optional infomiationl You may choose lo include additional infonnation, where relevant. about.. THIS CIO ALSO INCORPORATES THE RUNNING OF THE 'OLD VILLAGE HALL" (OFFICIALLY KNOWN AS"ASHWELLTHORPE VILLAGE HALL" (CHARITY NO 303891} WHICH WAS CLOSED. policies and procedures adopted for the induction and training of trustees", the charity's organisational structure and any wider network with which the Gharity works., relationship with any re5ated parties., trustees, consideration of major risks and the system and procedures to manage them. IT WAS OFFICIALLY AMALGAMATED WTH THE CIO ON 03 JUNE 2021. IT WAS AGREED THAT THE ACCOUNTS OF THE OLD VILLAGE HALL WHICH HAVE BEEN KEPT SEPARATE FROM 'THORPE HALL. WHERE SEPARATE BANK ACCOUNTS ARE HELD AND MANAGED BY THE CIO IN ORDER TO KEEP THE FUNDS SEPARATE AND DISTINCT. THE OLD VILLAGE HALL WAS MERGED WITH THE CIO AS AGREED BY THE CHARITY COMMISSION IN APRIL 2021. THE CIO MANAGED THE OLD VILLAGE HALL FOLLOWING THE MERGER. THIS IS REFLECTED IN THE ACCOUNTS WHICH ARE KEPT SEPARATE FROM AN ADMINISTRATIVE PERSPECTIVE. Section C ectives and activities TO FURTHER OR BENEFIT THE RESIDENTS OF THE VILLAGES OF ASHWELLTHORPE AND FUNDENHALL IN NORFOLK BY ASSOCIATING TOGETHER THE SAID RESIDENTS AND THE LOCAL AUTHORITIES, VOLUNTARY AND OTHER ORGANISATIONS IN A COMMON EFFORT TO ADVANCE EDUCATION AND TO PROVIDE FACILITIES IN THE INTERESTS OF SOCIAL WELFARE FOR RECREATION AND LEISURE TIME OCCUPATION. Summary of the objects of the charity set out in its governing document TAR IAarch 2012
TH THE OBJECTIVE OF IMPROVING THE CONDITIONS OF LIFE FOR THE RESIDENTS. TO ESTABLISH OR SECURE THE ESTABLISHMENT OF A COMMUNITY CENTRE AND TO MAINTAIN OR MANAGE OR CO- OPEF14TE WITH ANY STATUTORY AUTHORITY IN THE MAINTENANCE AND MANAGEMENT OF SUCH A CENTRE FOR ACTIVITIES PROMOTED BY THE CHARITY. Summary ofthe main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit) Additional details of objectives and activities (Optional infomiation) You may choose to include further statements. where relevant, about". policy on grantmaking., policy programme related investment., contribution made by volunteers. TAR March 2012
Section D Achievements and performance Summary of the main achievements of the charity during the year The TnJsiee5 are still dealin¥ with the iransfer of Thorpe 14all, although. in The main this has legally completed, we are jus1 allIng for ihe Land Registry to be updated. Throuohoui rhe }ear the Tru51ees have been applying for Grants thai will be used to purchase children s play equipment in the coming j'rar. There are also discussions with th¢ Pwish Council that wÉll allow us to transfer an area of land io the Parish Council and ihis will be set aside for the children play area and the TnEse% will work Closely with the Parish Council to ensu this is finalised. The TrUe¢S have slowly adveni5ed Thorpe Hall io local residents, so income is being generdied for th¢ charity and it is hoped that this will incr¢as¢ in future. The Trusiees have successfully continued running the -old Village Hall, and thi5 15 still bein? rented out to a Children's Plajgroup which is also a charity. TAR bAarch 2012
Section E Financial review Brief statement of the charity's policy on reserrfes The Trustees have iried ¢0 build up reserves so that Thorpe Hall can be equipped with items thai 117 help local Tesidenis'users hen the} hire the hall. The Truslees are also aware that a5 the CIO and OVH are linked charities. we only submit one sei of accounts io the ChariTh C(Trmmission. however the OVH and its accounts ha5 been treated land 111 be tr¢ai¢dl s¢pardr¢ly as 'r¢stricted funds, in accordance with the Charity Commission rules. Details of any funds materially in deficit Further financial review details (Optional infonnationl You may choose lo include additional information, where relevant about.. the charity s principal sources of funds (including any fundraising)., how expenditure has supported the key objectives of the charity, investment policy and objectives including any ethical investment policy adopted. Section F Other optional information Section G Declaration The trustee3 declare that they have approved the trustees, report above. Signed on behalf of the charity's trustees Signature(s) Full namels) Position (eg Secrelary. Chair, Trustee James E Milk Date 31 January 2024 TAR Marth 2012
Charity number: 1189935
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Independent Examiner's Report | 6 - 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Statement of Cash Flows | 10 |
| Notes to the Financial Statements | 11 - 23 |
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023
| Trustees | I Bishop |
|---|---|
| N C I de Spon | |
| Dr C A Eastwood (resigned 30 May 2022) | |
| E E Franey (resigned 3 October 2022) | |
| J Ives | |
| Dr D Jefferies | |
| L M Mears | |
| J E Milk |
Charity registered number 1189935
Principal office Muskett Drive Ashwellthorpe Norfolk NR16 1FD Accountants BW Audit Limited Chartered Accountants 54 Thorpe Road Norwich Norfolk NR1 1RY
Page 1
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2022 to 31 March 2023. The Trustees have adopted the provisions of 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 2019).
The Charity additionally trades under the name Thorpe Hall.
This CIO also incorporates the running of the “Old Village Hall” (officially known as “Ashwellthorpe Village Hall” (Charity No. 303891) which was closed and officially amalgamated with the CIO on 3 June 2021. It was agreed that the accounts of the Old Village Hall be kept separate from “Thorpe Hall” and separate bank accounts are held and managed by the CIO in order to keep the funds separate and distinct.
Objectives and activities
a. Policies and objectives
The Charity's objects are to further or benefit the residents of the villages of Ashwellthorpe and Fundenhall in Norfolk by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents.
To establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a centre for activities promoted by the Charity.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Page 2
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Achievements and performance
a. Main achievements of the Charity
The Trustees are still dealing with the transfer of Thorpe Hall, although, in the main this has legally completed, we are just waiting for the Land Registry to be updated.
Throughout the year the Trustees have applied for Grants that were used to purchase children’s play equipment in the year.
There were also discussions with the Parish Council that allowed us to transfer an area of land to the Parish Council which was set aside for the children play area and the Trustees will work closely with the Parish Council to ensure this is finalised.
The Trustees have slowly advertised Thorpe Hall to local residents, so income is being generated for the charity and it is hoped that this will increase in future.
The Trustees have successfully continued running the ‘Old Village Hall’ and this is still being rented out to a Children’s Playgroup which is also a charity.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Trustees continue to try to build up free reserves so that Thorpe Hall can be equipped with items that will help local residents/users when they hire the hall.
The Trustees are also aware that as the CIO and Old Village Hall are linked charities, only one set of accounts is submitted to the Charity Commission, however the Old Village Hall and its accounts have been treated (and will continue to be treated) separately as 'restricted funds' in accordance with the Charity Commission rules.
At 31 March 2023 total funds amounted to £870,410 (2022: £29,469). The charity has unrestricted reserves of £867,145 (2022: £17,943) and restricted reserves of £3,265 (2022: £11,526). The free reserves of the charity at 31 March 2023 (being the unrestricted current assets less unrestricted current liabilities) amount to £18,567 (2022: £17,943). The aim is to continue to increase the level of free reserves for at least the next couple of years.
Page 3
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
c. Financial review
Total income for the year ended 31 March 2023 was £866,604 compared to £39,747 in the previous year. Included within donations is £840,000 which is the donation of Thorpe Hall to the charity from the Parish Council. The corresponding asset has been recognised on the balance sheet. Charitable activity income has increased from £4,246 to £8,726 as the local community begin to use the hall for their activities. Expenditure has increased from £12,278 in 2022 to £25,663. Included within charitable expenditure is £16,000 being the transfer of the playground to the Parish Council.
Structure, governance and management
a. Constitution
Ashwellthorpe & Fundenhall Community Centre is a registered charity, number 1189935, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Organisational structure and decision-making policies
The Trustees meet regularly throughout the year.
d. Policies adopted for the induction and training of Trustees
All new Trustees are referred to the Charity Commission Guidance 'The essential trustee: what you need to know, what you need to do' to familiarise themselves with the responsibilities of a Charity Trustee.
e. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Plans for future periods
We will continue to promote Thorpe Hall within the local community.
Page 4
ASHWELLThORPE S FUNDENHALL COMMUNTrI CENTRE TRUSTEES. REPORT ICONTINUEDI FOR THEYEAR ENDED 31 MARCH 2023 Slat•ment of Trus1••$' r•$ponsibilili•s The Trustees are responsible for prèpariny thè TnJstÈès' RÈport and the financial statement5 in accordanc• with applicable law and United Kingdom Accounting Standards (United Kin9dom Generally Accepted Atcounling Prarticel. The law applicable lo charities in England & Wales rèquires the Trustees to prepare financial statement5 lor •ath financial year which gÉve a true and fair view of Ihe state ol affairs of the Charily and ol its incoming resources and applicalion of resources, including its incomè and txpenditure. for that period. In prepariny these financial slalements, the Trusteès arè required to- sèlect 5Ultable accounting policies and th?n apply them consislenlly, obsèrve the methods and principles of the Charities SORP IFRS ID21: make judgmpnls and accounting estimates that are rèasonablè and prudènt.. 51ale whelhgr applicabl• UK Accounting Standards IFRS 1021 hav• be•n loUow•d. subject to any material dopartur95 disclosgd and gxplain•d in thg financial stat•m•nts.' pr•paro the linancial stalements on the 90iny concern basi5 unless It Is inappropriat• to pr•sum• that Ihe Charity will continue in bu5ines5. The Tr¢Jstèes arè responsible lor keeping adequate accounting record5 that are suffFciÈnt to show and explain the Charitfs Iransadions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensurè Ihat the financial statement5 comply with the Charities Act 2011, the Charity (Account5 and Reports) Regulations 21108 and the provisions ol the Trust deed. They are also responsible lor saleguarding the assets ol the Charity and honc8 lor taking roasonablo steps for Ihe pr•vgnlion and delgction ol fraud and othor irrogulariti•s. Approvgd by order of the members of the board ol Trustees and signed on thèir b•hall by. Mil Trustee Date.. 3 1 Pagg 5
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023
Independent Examiner's Report to the Trustees of Ashwellthorpe & Fundenhall Community Centre ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2023.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
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.
Page 6
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 31 January 2024
Joanne Fox BA FCA
BW Audit Limited Chartered Accountants 54 Thorpe Road Norwich Norfolk NR1 1RY
Page 7
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Note Income from: Donations and legacies 3 Charitable activities 4 Other income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net income Transfers between funds 13 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 845,000 6,351 - 851,351 23,320 23,320 828,031 21,171 849,202 17,943 849,202 867,145 |
Restricted funds 2023 £ 12,878 2,375 - 15,253 2,343 2,343 12,910 (21,171) (8,261) 11,526 (8,261) 3,265 |
Total funds 2023 £ 857,878 8,726 - 866,604 25,663 25,663 840,941 - 840,941 29,469 840,941 870,410 |
Total funds 2022 £ 35,178 4,246 323 39,747 |
|---|---|---|---|---|
| 12,278 12,278 |
||||
| 27,469 - 27,469 |
||||
| 2,000 27,469 29,469 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 11 to 23 form part of these financial statements.
Page 8
ASHWELLTHORPE & FUNDENHALL COMMUNI CENTrE BALANCE SHE AS AT31 MARCH 2023 2023 2022 Nol• Fixed ass•1s Tangible assets 10 B48.578 848.578 Current asjels Debtors 1003 23.643 Cash al bank and in hand 30.859 25,646 30.859 Creditors= amounts laLiing duè wtlhin one yèar 12 13,814) (1.390J N•t ¢urrenl I•ts 21.832 29.469 Total a55els less current liabililies 870,410 29,469 Total nel ass•ls 870.410 29,469 Charily funds Restrict•d funds 13 13 326S 867.145 11,526 17,943 Unrgstricted funds Total fund5 870.410 29,469 The financial statements were approved and authoris•d lor issu• by th• Trustees and signed on their behalf by= Mllk Trustèe Date.. The notgs on pages 11 to 23 form part ol thesè financial stalements. Page 9
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023
2023 2022 £ £ Cash flows from operating activities Net cash used in operating activities 17,362 28,859 Cash flows from investing activities - Purchase of tangible fixed assets (24,578) - Net cash (used in)/provided by investing activities (24,578) Net cash (outflow)/inflow brought forward (7,216) 28,859 - - Net cash provided by financing activities Change in cash and cash equivalents in the year (7,216) 28,859 Cash and cash equivalents at the beginning of the year 30,859 2,000 Cash and cash equivalents at the end of the year 23,643 30,859 The notes on pages 11 to 23 form part of these financial statements
Page 10
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. General information
Ashwellthorpe & Fundenhall Community Centre is a charitable incorporated organisation (CIO).
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Ashwellthorpe & Fundenhall Community Centre 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.
2.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Page 11
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.3 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 income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Where the the Charity is donated a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies..
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.4 Expenditure
Expenditure is recognised on an accruals basis once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £200 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
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ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.5 Tangible fixed assets and depreciation (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Tangible fixed assets are not depreciated in year of acquisition.
Depreciation is provided on the following basis:
Freehold property - 4% Straight line Fixtures and fittings - 33% Reducing balance
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 13
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
3. Income from donations and legacies
| Donations Grants |
Unrestricted funds 2023 £ 845,000 - 845,000 |
Restricted funds 2023 £ 500 12,378 12,878 |
Total funds 2023 £ 845,500 12,378 857,878 |
|---|---|---|---|
During the year Thorpe Hall was transferred to the charity from the Parish Council, this has been recognised as a donation.
| Donations Grants |
Unrestricted funds 2022 £ 9,000 8,000 17,000 |
Restricted funds 2022 £ 4,851 13,327 18,178 |
Total funds 2022 £ 13,851 21,327 35,178 |
|---|---|---|---|
Page 14
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
4. Income from charitable activities
| Old Village Hall - hall hire Thorpe Hall - hall hire Old Village Hall - hall hire Thorpe Hall - hall hire 5. Other incoming resources Insurance refund |
Unrestricted funds 2023 £ - 6,351 6,351 Unrestricted funds 2022 £ - 2,046 2,046 |
Restricted funds 2023 £ 2,375 - 2,375 Restricted funds 2022 £ 2,200 - 2,200 Total funds 2023 £ - |
Total funds 2023 £ 2,375 6,351 8,726 |
|---|---|---|---|
| Total funds 2022 £ 2,200 2,046 4,246 |
|||
| Total funds 2022 £ 323 |
Page 15
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6. Analysis of expenditure on charitable activities
Summary by fund type
| Old Village Hall Thorpe Hall Old Village Hall Thorpe Hall Analysis of expenditure by activities Old Village Hall Thorpe Hall |
Unrestricted funds 2023 £ - 23,320 23,320 Unrestricted funds 2022 £ - 2,703 2,703 Activities undertaken directly 2023 £ 2,343 5,820 8,163 |
Restricted funds 2023 £ 2,343 - 2,343 Restricted funds 2022 £ 4,141 5,434 9,575 Support costs 2023 £ - 17,500 17,500 |
Total 2023 £ 2,343 23,320 25,663 |
|---|---|---|---|
| Total 2022 £ 4,141 8,137 12,278 |
|||
| Total funds 2023 £ 2,343 23,320 25,663 |
7. Analysis of expenditure by activities
Page 16
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
7. Analysis of expenditure by activities (continued)
| Old Village Hall Thorpe Hall |
Activities undertaken directly 2022 £ 4,141 7,147 11,288 |
Support costs 2022 £ - 990 990 |
Total funds 2022 £ 4,141 8,137 12,278 |
|---|---|---|---|
Analysis of direct costs
| Repairs and maintenance Cleaning Sundry Website running costs Electricity Insurance Equipment hire Repairs and maintenance Cleaning Sundry |
Old Village Hall 2023 £ 1,485 - - - - 858 - 2,343 Old Village Hall 2022 £ 4,141 - - 4,141 |
Thorpe Hall 2023 £ 1,324 1,105 90 235 2,173 311 582 5,820 Thorpe Hall 2022 £ 5,637 487 1,023 7,147 |
Total funds 2023 £ 2,809 1,105 90 235 2,173 1,169 582 8,163 |
|---|---|---|---|
| Total funds 2022 £ 9,778 487 1,023 11,288 |
Page 17
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
7. Analysis of expenditure by activities (continued)
Analysis of support costs
| Independent examination fee Transfer of playground |
Thorpe Hall 2023 £ 1,500 16,000 17,500 |
Total funds 2023 £ 1,500 16,000 17,500 |
Total funds 2022 £ 990 - 990 |
|---|---|---|---|
8. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £1,500 ( 2022 - £990 ).
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL) .
Page 18
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
| NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
||||
|---|---|---|---|---|---|
| 10. Tangible fixed assets Cost or valuation Additions Disposals At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 11. Debtors Due within one year Prepayments 12. Creditors: Amounts falling due within one yea Accruals |
Freehold property £ 840,000 - 840,000 840,000 - |
Fixtures and fittings £ 24,578 (16,000) 8,578 8,578 - 2023 £ 2,003 2,003 2023 £ 3,814 |
Total £ 864,578 (16,000) 848,578 848,578 - 2022 £ - |
||
| 2,003 | - | ||||
| 2023 £ 3,814 |
2022 £ 1,390 |
Page 19
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
13. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Restricted funds Old Village Hall Lottery grant Co-op grant Playground Total of funds |
Balance at 1 April 2022 £ 17,943 3,233 4,966 3,327 - 11,526 29,469 |
Income £ 851,351 2,375 - - 12,878 15,253 866,604 |
Expenditure £ (23,320) (2,343) - - - (2,343) (25,663) |
Transfers in/out £ 21,171 - (4,966) (3,327) (12,878) (21,171) - |
Balance at 31 March 2023 £ 867,145 |
|---|---|---|---|---|---|
| 3,265 - - - 3,265 |
|||||
| 870,410 |
Old Village Hall (previously “Ashwellthorpe Village Hall” Charity No. 303891) was officially amalgamated with the CIO on 3 June 2021. It was agreed that the accounts of the Old Village Hall are held and managed by the CIO and the funds kept separate and distinct.
The Lottery grant and the Co-op grant funded work on the audio and video equipment and sound system for the Hall. The capital work was completed in the year and the grants spent in full.
Grants and donations were secured for the installation of a new playground. The capital work was completed in the year and the grants spent in full.
Page 20
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
13. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General Funds Restricted funds Old Village Hall Lottery grant Co-op grant Total of funds |
Balance at 1 April 2021 £ 2,000 - - - - 2,000 |
Income £ 19,046 7,374 10,000 3,327 20,701 39,747 |
Expenditure £ (3,103) (4,141) (5,034) - (9,175) (12,278) |
Balance at 31 March 2022 £ 17,943 |
|---|---|---|---|---|
| 3,233 4,966 3,327 11,526 |
||||
| 29,469 |
- Analysis of net assets between funds Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 848,578 22,381 (3,814) 867,145 |
Restricted funds 2023 £ - 3,265 - 3,265 |
Total funds 2023 £ 848,578 25,646 (3,814) 870,410 |
|---|---|---|---|
Page 21
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
14. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Current assets Creditors due within one year Total |
Unrestricted funds 2022 £ 19,333 (1,390) 17,943 |
Restricted funds 2022 £ 11,526 - 11,526 |
Total funds 2022 £ 30,859 (1,390) 29,469 |
|---|---|---|---|
- Reconciliation of net movement in funds to net cash flow from operating activities
| Net income for the year (as per Statement of Financial Activities) Adjustments for: Transfer of playground to Parish Council Increase in debtors Increase in creditors Donation of capital assets Net cash provided by operating activities 16. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents |
2023 £ 840,941 16,000 (2,003) 2,424 (840,000) 17,362 2023 £ 23,643 23,643 |
2022 £ 27,469 |
|---|---|---|
| - - 1,390 - |
||
| 28,859 | ||
| 2022 £ 30,859 |
||
| 30,859 |
Page 22
ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
17. Analysis of changes in net debt
| Cash at bank and in hand | At 1 April 2022 £ 30,859 30,859 |
Cash flows £ (7,216) (7,216) |
At 31 March 2023 £ 23,643 23,643 |
|---|---|---|---|
18. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2023.
Page 23
Trustees. Annual Report for the period Period start date Period end dale From Ap 2022 To 31 March 2023 Section A Reference and administration details Charity name ASHWELLTHORPE & FUNDENHALL COMMUNITY CENTRE Other names charity is known by THORPE HALL Registered charity number {if any) 1189935 Charity's principal address MUSKETh DRIVE ASHWELLTHORPE NORFOLK Postcode NR16 1FD Names of the charity trustees who manage the charity Trustse nam¢ Offie• Irf any) Dates acted rf not for whole year Name of per¥on lor body) entitled to appoint trustee ifan James Ethard Milk Tntstee IFKm01 Xooi lan Bishop TrusieÈ (Frrm 15 JTh2ml Dr Dav JeffeFie5 Tru51ee IFr<m IsJTh•2O201 Linda Margaret Mea Trustee IFrt¥hQi p&hwrthi2(É%)I Dr Christopher Alkn EaSthL1 Chair (Frw 15kn¢20a) Eloabelh Esthef Franey Trustee IFromOI FMthrV)20 Nicholas Char$ Ivatt de Stx)n Truslee IFrrTh 15knB2ml 10 Jaqueline Ives Trustee IFfW iaC*tyw21I 12 13 14 15 16 17 18 19 Names of the trustees for the charity, rf any, (for example, any custodian trustees) Name Dates acted if not for whole ear TAR Mard) 2012
Names and addresses of advisers (Optional infomlation e of adviser Name Address Name of Chief executive or names of senior staff members (Optional infomiation} Section B Structure, overnance and mana ement Description of the ¢harity's trusts CIO - FOUNDATION Registered 15 Jun 2020 Type of governing document How the charity is constituted cio Trustee selection methods By Appointment Additional governance issues (Optional infomiationl You may choose lo include additional infonnation, where relevant. about.. THIS CIO ALSO INCORPORATES THE RUNNING OF THE 'OLD VILLAGE HALL" (OFFICIALLY KNOWN AS"ASHWELLTHORPE VILLAGE HALL" (CHARITY NO 303891} WHICH WAS CLOSED. policies and procedures adopted for the induction and training of trustees", the charity's organisational structure and any wider network with which the Gharity works., relationship with any re5ated parties., trustees, consideration of major risks and the system and procedures to manage them. IT WAS OFFICIALLY AMALGAMATED WTH THE CIO ON 03 JUNE 2021. IT WAS AGREED THAT THE ACCOUNTS OF THE OLD VILLAGE HALL WHICH HAVE BEEN KEPT SEPARATE FROM 'THORPE HALL. WHERE SEPARATE BANK ACCOUNTS ARE HELD AND MANAGED BY THE CIO IN ORDER TO KEEP THE FUNDS SEPARATE AND DISTINCT. THE OLD VILLAGE HALL WAS MERGED WITH THE CIO AS AGREED BY THE CHARITY COMMISSION IN APRIL 2021. THE CIO MANAGED THE OLD VILLAGE HALL FOLLOWING THE MERGER. THIS IS REFLECTED IN THE ACCOUNTS WHICH ARE KEPT SEPARATE FROM AN ADMINISTRATIVE PERSPECTIVE. Section C ectives and activities TO FURTHER OR BENEFIT THE RESIDENTS OF THE VILLAGES OF ASHWELLTHORPE AND FUNDENHALL IN NORFOLK BY ASSOCIATING TOGETHER THE SAID RESIDENTS AND THE LOCAL AUTHORITIES, VOLUNTARY AND OTHER ORGANISATIONS IN A COMMON EFFORT TO ADVANCE EDUCATION AND TO PROVIDE FACILITIES IN THE INTERESTS OF SOCIAL WELFARE FOR RECREATION AND LEISURE TIME OCCUPATION. Summary of the objects of the charity set out in its governing document TAR IAarch 2012
TH THE OBJECTIVE OF IMPROVING THE CONDITIONS OF LIFE FOR THE RESIDENTS. TO ESTABLISH OR SECURE THE ESTABLISHMENT OF A COMMUNITY CENTRE AND TO MAINTAIN OR MANAGE OR CO- OPEF14TE WITH ANY STATUTORY AUTHORITY IN THE MAINTENANCE AND MANAGEMENT OF SUCH A CENTRE FOR ACTIVITIES PROMOTED BY THE CHARITY. Summary ofthe main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit) Additional details of objectives and activities (Optional infomiation) You may choose to include further statements. where relevant, about". policy on grantmaking., policy programme related investment., contribution made by volunteers. TAR March 2012
Section D Achievements and performance Summary of the main achievements of the charity during the year The TnJsiee5 are still dealin¥ with the iransfer of Thorpe 14all, although. in The main this has legally completed, we are jus1 allIng for ihe Land Registry to be updated. Throuohoui rhe }ear the Tru51ees have been applying for Grants thai will be used to purchase children s play equipment in the coming j'rar. There are also discussions with th¢ Pwish Council that wÉll allow us to transfer an area of land io the Parish Council and ihis will be set aside for the children play area and the TnEse% will work Closely with the Parish Council to ensu this is finalised. The TrUe¢S have slowly adveni5ed Thorpe Hall io local residents, so income is being generdied for th¢ charity and it is hoped that this will incr¢as¢ in future. The Trusiees have successfully continued running the -old Village Hall, and thi5 15 still bein? rented out to a Children's Plajgroup which is also a charity. TAR bAarch 2012
Section E Financial review Brief statement of the charity's policy on reserrfes The Trustees have iried ¢0 build up reserves so that Thorpe Hall can be equipped with items thai 117 help local Tesidenis'users hen the} hire the hall. The Truslees are also aware that a5 the CIO and OVH are linked charities. we only submit one sei of accounts io the ChariTh C(Trmmission. however the OVH and its accounts ha5 been treated land 111 be tr¢ai¢dl s¢pardr¢ly as 'r¢stricted funds, in accordance with the Charity Commission rules. Details of any funds materially in deficit Further financial review details (Optional infonnationl You may choose lo include additional information, where relevant about.. the charity s principal sources of funds (including any fundraising)., how expenditure has supported the key objectives of the charity, investment policy and objectives including any ethical investment policy adopted. Section F Other optional information Section G Declaration The trustee3 declare that they have approved the trustees, report above. Signed on behalf of the charity's trustees Signature(s) Full namels) Position (eg Secrelary. Chair, Trustee James E Milk Date 31 January 2024 TAR Marth 2012