ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
SHALFORD VILLAGE HALL (SURREY)
(Charitable Incorporated Organisation)
CHARITY REGISTRATION No: 1190571
Castle View Accounting Ltd Ground Floor Offices
53 High Street Arundel West Sussex BN18 9AJ
SHALFORD VILLAGE HALL (SURREY)
(Charitable Incorporated Organisation)
CONTENTS
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Page 3 Legal and Administrative Information
Page 4 Independent Examiners Report to the Trustees
Page 5 to 6 Trustees' Report
Page 7 Statement of Financial Activities
Page 8 Balance Sheet
Pages 9 to 16 Notes to the Financial Statements
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SHALFORD VILLAGE HALL (SURREY)
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1190571 DATE OF REGISTRATION 27th July 2020 START OF FINANCIAL YEAR 1st April 2023 END OF FINANCIAL YEAR 31st March 2024 TRUSTEES AS AT 31ST MARCH 2024 Lesley Davies - Chair William Stokoe - Vice Chair (Appointed 15th November 2023) Anne Cooper Mary Philips Frank Ago Claire Townsend Julia Brough Sheila Hastings-Rose Charles Meade-King Brian Hawtin David Semple John Trevail Alan Midgley Richard Bowman Anne Stokoe Maura Syed (Appointed 2nd October 2023) Susan O'Dell (Appointed 15th October 2023)
The existing trustees appoint any new trustees following the provisions laid out in the organisation's governing instrument.
LEGAL STATUS Charitable Incorporated Organisation GOVERNING INSTRUMENT CIO - Foundation Registered 27th July 2020 CORRESPONDENCE ADDRESS Shalford Village Hall Kings Road Shalford Guildford Surrey GU4 8BQ PRIMARY BANKERS CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ INDEPENDENT EXAMINERS Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
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SHALFORD VILLAGE HALL (SURREY)
(Charitable Incorporated Organisation)
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
Report to the trustees/ members of Shalford Village Hall (Surrey) on the accounts for the year ended 31st March 2024 set out on pages 7 to 16.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention
Basis of independent examiner’s statement
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
K. Collaku MAAT Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
Date: 11th October 2024
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SHALFORD VILLAGE HALL (SURREY)
(Charitable Incorporated Organisation)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31ST MARCH 2024
Aims and Objectives - Shalford Village Hall (Surrey) is a registered charity which converted from an unincorporated association to a Charitable Incorporated Organisation (CIO) in August 2020. The aims and objectives of the CIO are to provide a village hall and other facilities for the use of the inhabitants of Shalford and the neighbourhood for meetings, educational purposes and other forms of recreational and leisure time occupation, including sports, arts, culture and community development.
Organisational Structure - The CIO constitution states that the members of the CIO are the charity trustees and the only persons eligible to be members of the CIO are its trustees. There must be a minimum of 9 trustees but no maximum is set. Unlike the old unincorporated association, where certain organisations were entitled to nominate trustees, the CIO trustees are drawn from a wide range of users, plus representatives from the local community, to ensure local interests are well represented.
A Resolution agreed by the trustees provides for a Management Committee to run the charity. The Management Committee is comprised of the trustees. The Management Committee has designated, within defined parameters, certain responsibilities for the day to day running of Shalford Village Hall to a General Purposes Committee. A further Resolution, passed by the trustees in October 2023, set up a Finance Committee to have oversight of charity finances. There are three trustees on the Committee, which reports to the Management Committee.
Review of Activities - The Main Hall was built in 1964 and requires continuous maintenance and increasingly, renewal of services and infrastructure. This year, expenditure has been focussed on updating the three serveries in the Main and Upper Halls and in the Tillingbourne Room. A grant of £9,500 from the National Lottery was put towards the cost.
Having invested last year in the installation of infrared heating and LED lighting, the trustees have continued to explore further measures to promote greener and cost efficient energy, and how to fund them.
Public Benefit
The trustees have considered the guidance provided by the Charity Commission in connection with public benefit and its application to the charity.
Financial Information - Income of £83,684 from hire fees shows significant improvement over the previous year (£78,027). Hire fees were raised in April 2023 but remain competitive with those of other Village Halls in the area
Reserves - Reserves are required by the Management Committee as a necessary cushion to cover unexpected expenses. The current recommended level is £50,000. A higher level of expenditure last year resulted in end year funds (£44,754) below this level temporarily. The reserve has been restored this year to just above the £50,000 level through a small fee increase, through maximising lettings and through careful budgeting.
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SHALFORD VILLAGE HALL (SURREY)
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
| Notes INCOME AND ENDOWMENTS FROM: Donations, Grants & Legacies 3a Charitable Activities 3b Investment Income 3c Other Income 3d TOTAL INCOME EXPENDITURE ON: Charitable Activities 4a Governance Costs 4b TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) Total Funds Brought Forward Transfer Between Funds 6 TOTAL FUNDS CARRIED FORWARD |
Unrestricted Designated Restricted TOTAL TOTAL Fund Fund Fund 2023/24 2022/23 £ £ £ £ £ 19,345 - - 19,345 11,372 83,684 - - 83,684 78,027 1,054 - - 1,054 379 600 - - 600 450 104,682 - - 104,682 90,228 90,240 10,234 - 100,474 151,699 3,717 - - 3,717 4,908 93,957 10,234 - 104,191 156,607 10,725 (10,234) - 491 (66,378) 44,804 986,687 (161) 1,031,330 1,097,708 (161) - 161 - - 55,368 976,453 - 1,031,821 1,031,330 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 9 to 16 form part of these financial statements.
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SHALFORD VILLAGE HALL ISURREY) ICharil8bbg organalK)n) AS AT 31ST MARCH 2trI4 Trrt•l Tot•l 31.Mw.24 31-M23 Flx•d ABs•ts TwJiN&ABs•ts 97&453 976.453 991687 ashat I1 68.277 54.778 4.643 &698 16.6C 14.775 MET CURIIE14T A8SEryUAWLITIESI 55.J8 44.643 TOTALASSETS le•& cwrwl 55.M8 97W 1.OJ1J21 1,031.310 Cr•dltarn.' Lory Tern L1• 10 IIET ASSETS 1 031 821 t OJI 330 Gonor& Fun(18 FurKI• 41.804 986,687 97&453 Totsl Fund 1 031821 1031 330 24-S Syd on th"r tyTn*............................. ..... LUW
SHALFORD VILLAGE HALL (SURREY)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
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SHALFORD VILLAGE HALL (SURREY)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2024
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
Unrestricted Funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted Funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of the regular appeals for special offerings.
Designated Funds
These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Land & Buildings
Land and Buildings have been valued and included within the accounts at cost value as at the 26th August 2020 in accordance with FRS102 - Previous Valuation Deemed Cost
Valuation of Land and Building
The Land & Buildings have been assigned to the Charity by Vesting Declaration Dated 26th August 2020. The Land and Buildings have been included in the accounts at market value as at the 26th August 2020 and are included in the accounts in accordance with FRS102 - Previous Valuation Deemed Cost.
Specified Trust Property
The freehold property known as Shalford Village Hall, was held in Trust by Shalford Parish Council as Custodian Trustees which was registered at HM Land Registry with title numbers S Y294371 and SY553364. The Specified Trust Property was transferred to the Charity by Title Absolute on the 19th November 2020 and held by Shalford Village Hall (Surrey) and is held under Title Numbers SY294391 & SY553364.
Amortisation Expense
No amortisation is charged to the Land, Tennis Courts and the Bowling Green as it is considered the residual value will not be less than cost.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied per annum are as follows:
Land & Buildings General Equipment
1% - Straight Line Basis 10% - Straight Line Basis
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SHALFORD VILLAGE HALL (SURREY)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2024
2. TANGIBLE FIXED ASSETS
| Cost 01-Apr-23 Additions Cost at 31-Mar-24 Depreciation 01-Apr-23 Charge Depreciation at 31-Mar-24 Net Book Value 31-Mar-24 Net Book Value 31-Mar-23 |
Tennis Bowling General TOTAL Land Buildings Courts Green Equipment 2023/24 £ £ £ £ £ £ 100,000 876,323 25,000 122,077 35,552 1,158,952 - - - - - - 100,000 876,323 25,000 122,077 35,552 1,158,952 - 136,713 - - 35,552 151,797 - 10,234 - - - 10,234 - 146,947 - - 35,552 162,031 100,000 729,376 25,000 122,077 - 976,453 100,000 739,610 25,000 122,077 - 986,687 |
|---|---|
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st March 2024 : None
31st March 2023 : None
Valuation of Land and Building
The Land & Buildings have been assigned to the Charity by Vesting Declaration Dated 26th August 2020. The Land and Buildings have been included in the accounts at market value as at the 26th August 2020 and are included in the accounts in accordance with FRS102 - Previous Valuation Deemed Cost.
Specified Trust Property
The freehold property known as Shalford Village Hall, was held in Trust by Shalford Parish Council as Custodian Trustees which was registered at HM Land Registry with title numbers S Y294371 and SY553364. The Specified Trust Property was transferred to the Charity by Title Absolute on the 19th November 2020 and held by Shalford Village Hall (Surrey) and is held under Title Numbers SY294391 & SY553364.
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SHALFORD VILLAGE HALL (SURREY)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2024
3. INCOME AND ENDOWMENTS
| Notes a) Donations, Grants & Legacies Grants Received b) Charitable Activities Hall Bookings Shalford Bowling Green Shalford Tennis Club Courts c) Investment Income Bank Interest d) Other Income Sundry Income |
Unrestricted Designated Restricted TOTAL TOTAL Fund Fund Fund 2023/24 2022/23 £ £ £ £ £ 19,345 - - 19,345 11,372 19,345 - - 19,345 11,372 76,132 - - 76,132 71,208 3,568 - - 3,568 2,835 3,984 - - 3,984 3,984 83,684 - - 83,684 78,027 1,054 - - 1,054 379 1,054 - - 1,054 379 600 - - 600 450 600 - - 600 450 |
|---|---|
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SHALFORD VILLAGE HALL (SURREY)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2024
4. EXPENDITURE ON:
| Notes a) Charitable Activities Administrative Costs Bank Charges Caretaking Costs Cleaning Costs Depreciation Expenses 5 Equipment Costs Gifts & Donations Insurance Costs Office Costs Rent & Rates Repairs & Maintenance Running Costs Utility Costs b) Governance Costs Independent Examiner's Fee 9 Legal & Professional Fees |
Unrestricted Designated Restricted TOTAL TOTAL Fund Fund Fund 2023/24 2022/23 £ £ £ £ £ 5,448 - - 5,448 4,515 40 - - 40 46 12,229 - - 12,229 13,244 1,839 - - 1,839 1,457 - 10,234 - 10,234 10,234 - - - - 8,173 - - - - 20,000 3,245 - - 3,245 3,037 1,437 - - 1,437 1,161 333 - - 333 10,523 48,784 - - 48,784 64,118 3,065 - - 3,065 3,268 13,820 - - 13,820 11,924 90,240 10,234 - 100,474 151,699 960 - - 960 800 2,757 - - 2,757 4,108 3,717 - - 3,717 4,908 |
|---|---|
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SHALFORD VILLAGE HALL (SURREY)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2024
5. DESIGNATED FUNDS
CURRENT FINANCIAL PERIOD
| Capital Fund PREVIOUS FINANCIAL PERIOD Capital Fund |
Balance Balance 01-Apr-23 Income Expenditure Transfers 31-Mar-24 £ £ £ £ £ 986,687 - 10,234 - 976,453 986,687 - 10,234 - 976,453 Balance Balance 01-Apr-22 Income Expenditure Transfers 31-Mar-23 £ £ £ £ £ 996,921 - 10,234 - 986,687 996,921 - 10,234 - 986,687 |
|---|---|
The designated funds held are represented by the CIO's fixed asset investments.
6. RESTRICTED FUNDS
CURRENT FINANCIAL PERIOD
| Bowls Club PREVIOUS FINANCIAL PERIOD Bowls Club |
Balance Balance 01-Apr-23 Income Expenditure Transfers 31-Mar-24 £ £ £ £ £ (161) - - 161 - (161) - - 161 - Balance Balance 01-Apr-22 Income Expenditure Transfers 31-Mar-23 £ £ £ £ £ 9,889 - 10,050 - (161) 9,889 - 10,050 - (161) |
|---|---|
The restricted funds held are wholly represented by the CIO's cash reserves. Restricted Funds in deficit are classed as continued operations and funds will be replenished in the next financial period.
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SHALFORD VILLAGE HALL (SURREY)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2024
7. CASH AT BANK AND IN HAND
| Cash at Bank and in Hand 8. DEBTORS AND PREPAYMENTS Prepayments Sundry Debtors |
Unrestricted Designated Restricted Total Total Fund Fund Fund 31-Mar-24 31-Mar-23 £ £ £ £ £ 68,277 - - 68,277 54,776 68,277 - - 68,277 54,776 Unrestricted Designated Restricted Total Total Fund Fund Fund 31-Mar-24 31-Mar-23 £ £ £ £ £ 3,233 - - 3,233 3,233 465 - - 465 1,410 3,698 - - 3,698 4,643 |
|---|---|
9. CREDITORS ACCRUALS AND DEFERRED INCOME: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Independent Examiner's Fee Sundry Creditors |
Unrestricted Designated Restricted Total Total Fund Fund Fund 31-Mar-24 31-Mar-23 £ £ £ £ £ 960 - - 960 800 15,646 - - 15,646 13,975 16,606 - - 16,606 14,775 |
|---|---|
10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The CIO held no long term liabilities during this or the previous financial period.
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Tangible Fixed Assets Net Current Assets Long Term Liabilities TOTAL FUNDS |
Unrestricted Designated Restricted Total Total Fund Fund Fund 31-Mar-24 31-Mar-23 £ £ £ £ £ - 976,453 - 976,453 986,687 55,368 - - 55,368 44,643 - - - - - 55,368 976,453 - 1,031,821 1,031,330 |
|---|---|
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SHALFORD VILLAGE HALL (SURREY)
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2024
12. STAFF COSTS AND NUMBERS
The CIO employed no members of staff during this or the previous financial period.
13. PAYMENTS TO TRUSTEES AND RELATED PARTY TRANSACTIONS
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
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