# **ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025** # **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** **----- Start of picture text -----**
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
**----- End of picture text -----**
2 ## **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 2024 **END OF FINANCIAL YEAR** 31st March 2025 **TRUSTEES AS AT 31ST MARCH 2025** Lesley Davies - Chair William Stokoe - Vice Chair Anne Cooper Mary Philips Claire Townsend Julia Brough Sheila Hastings-Rose Charles Meade-King Brian Hawtin David Semple John Trevail Alan Midgley Richard Bowman Anne Stokoe Maura Syed Susan O'Dell Heidi Monson (Appointed 4th March 2025) Dot Crocombe (Appointed 4th March 2025 Patrick Stovell (Appointed 4th March 2025) 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 3 ## **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 2025 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: - examine the accounts under section 145 of the Charities Act, - 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 - 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 1. which gives me reasonable cause to believe that in, any material respect, the requirements: - to keep accounting records in accordance with section 130 of the Charities Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or 2. 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: 25th September 2025 4 ## **SHALFORD VILLAGE HALL (SURREY)** (Charitable Incorporated Organisation) ## **TRUSTEES' REPORT** ## **FOR THE YEAR ENDED 31ST MARCH 2025** **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 new fire doors and on replacing the single glazed windows with double glazed units. These measures helped meet dual aims of necessary refurbishment and of make the buildings more energy efficient. The next stage will be to seek funding for the installation of solar panels and battery storage. ## **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 £87,560 from hire fees shows a small increase over the previous year (£83,684). Hire fees were raised in April 2024 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. 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. 5 SHALFORD VILLAGE HALL (SURREY) (Charilable I￿￿[￿Yat￿l orgaThEat￿l TRUSTEES. REPORT l¢ontinuedl FOR THE YEAR ENDED 31ST MARCH 2025 Trust888' R8¥p)n8ibilities The trU￿e￿5 are re5F￿tle kn rryarw ts IlerKrt of ts Tt￿$t085 the stai￿ntS in with aprI￿ab￿ L¥w aThJ the KJw¢Kn StaK*wts (Urthl I(irV￿ryn Accry)t& AC￿ntir￿j PrxtKe GAAPI. The Law to char￿e5 and Wa￿. ￿ Charities 2011. Ch*y (Accounts Repcrfts) ReguL8t￿n¥ 8ThJ the prowgAtr)s oftf* I*￿*r¥j fAxxJment r￿IreS the ly￿e5 to fware finaw statern￿ finar￿￿￿￿ year wlxch give a *x* tsif ¥[8• of state ol aff*ts of tlwty of IncorriNJ resrxJr¢es statwts. tru8ts88 wt reqL¥t*S I¢y. the Clowil OF**. The trLk5tees are resp)￿￿& fcf kee￿ ￿ntiry d1¥k￿ rea5wabè ￿￿r￿Y at any the fi[Trar￿raI KM)￿1￿ of the chty lo ena￿ them ts)ai the statements fAMnply vAth ts Charii*S PLI 2011. Charty (A(L￿nts th ReFxKtsl Rewl*N)1$ w0vi9c￿ ol Gove¥rHng Lknumerrt. Tlw ate asD tectson of fraud otrErirregylant Awr0￿ tsytht Trllst￿ w................. .................. ....... sgned M th•r bÈhattbyTru#g9... ...................... LE£LvI t)IN IEg ## **SHALFORD VILLAGE HALL (SURREY)** (Charitable Incorporated Organisation) ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025** |**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
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Fund
Fund
Fund
**2024/25**
**2023/24**
£
£
£
**£**
**£**
11,073
-
-
11,073
19,345
87,560
-
-
87,560
83,684
1,526
-
-
1,526
1,054
623
-
-
623
600
**100,781**
**-**
**-**
**100,781**
**104,682**
105,918
10,234
-
116,152
100,474
4,535
-
-
4,535
3,717
**110,453**
**10,234**
**-**
**120,687**
**104,191**
**(9,672)**
**(10,234)**
**-**
**(19,906)**
**491**
55,368
976,453
-
1,031,821
1,031,330
**45,696**
**966,219**
**-**
**1,011,915**
**1,031,821**| |---|---| 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. 7 SHALFORD VILLAGE HALL ISURREY) BALANCE SHEET AS AT 31ST MARCH 2025 TOTAL 31￿ar.24 Fund FuThY FuThY 31-ltsr.25 Fix¥J Ass•t$ T3n9[￿e Assets ,219 966,219 976.453 Cwrent A$s•ts Cash ai Bank In H*K1 Oetyl(ws & Prepaymerrts 56.578 6.097 56.578 6.097 68,277 3.69e Trtsl CurrentAsset¥ 62,875 ¢redlt¢)rs'. 16.979 16.979 16.6(6 NET CURRENT ASSETSIILIA81ufiESI 4&695 55.368 TOTALASSETS18ss cuitent hthknlies 45.896 96Q219 1.011,915 1.031,821 CrEditors.' LoTrJ Lk*•li*s 10 NET ASSETS 45,696 96&219 1,071 91S 1 031 821 Fwdsoflhe Charlty General Funds Dwnèied Fur￿5 Restricted Fut￿$ 45. 55.368 976,453 966.219 966.219 Tolal Funds 45,696 1 011 915 1.031 821 its.q.i£ Ap[￿0￿1 bytsw Tr￿St￿e5 (KL........... .................. ..... ........ .. . . Swdontr*rbknWbyTrust8t......................... Prinied Nar Le£LY ￿￿jiE[ ## **SHALFORD VILLAGE HALL (SURREY)** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31ST MARCH 2025** ## **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. 9 ## **SHALFORD VILLAGE HALL (SURREY)** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2025** ## **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 10 ## **SHALFORD VILLAGE HALL (SURREY)** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2025** ## **2. TANGIBLE FIXED ASSETS** |Cost
01-Apr-24
Additions
Cost at
31-Mar-25
Depreciation
01-Apr-24
Charge
Depreciation at
31-Mar-25
Net Book Value
31-Mar-25
Net Book Value
31-Mar-24|Tennis
Bowling
General
**TOTAL**
Land
Buildings
Courts
Green
Equipment
**2024/25**
£
£
£
£
£
£
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
-
146,947
-
-
35,552
151,797
-
10,234
-
-
-
10,234
-
157,181
-
-
35,552
162,031
**100,000**
**719,142**
**25,000**
**122,077**
**-**
**966,219**
**100,000**
**729,376**
**25,000**
**122,077**
**-**
**976,453**| |---|---| The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st March 2025: None 31st March 2024 : 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. 11 ## **SHALFORD VILLAGE HALL (SURREY)** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2025** ## **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
**2024/25**
**2023/24**
£
£
£
£
£
11,073
-
-
11,073
19,345
**11,073**
**-**
**-**
**11,073**
**19,345**
81,258
-
-
81,258
76,132
2,318
-
-
2,318
3,568
3,984
-
-
3,984
3,984
**87,560**
**-**
**-**
**87,560**
**83,684**
1,526
-
-
1,526
1,054
**1,526**
**-**
**-**
**1,526**
**1,054**
623
-
-
623
600
**623**
**-**
**-**
**623**
**600**| |---|---| 12 ## **SHALFORD VILLAGE HALL (SURREY)** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2025** ## **4. EXPENDITURE ON:** |**Notes**
**a) Charitable Activities**
Administrative Costs
Bank Charges
Caretaking Costs
Cleaning Costs
Depreciation Expenses
**5**
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
**2024/25**
**2023/24**
£
£
£
£
£
5,056
-
-
5,056
5,448
28
-
-
28
40
10,957
-
-
10,957
12,229
8,361
-
-
8,361
1,839
-
10,234
-
10,234
10,234
3,529
-
-
3,529
3,245
1,351
-
-
1,351
1,437
265
-
-
265
333
57,982
-
-
57,982
48,784
3,302
-
-
3,302
3,065
15,087
-
-
15,087
13,820
**105,918**
**10,234**
**-**
**116,152**
**100,474**
1,020
-
-
1,020
960
3,515
-
-
3,515
2,757
**4,535**
**-**
**-**
**4,535**
**3,717**| |---|---| 13 ## **SHALFORD VILLAGE HALL (SURREY)** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2025** ## **5. DESIGNATED FUNDS** ## **CURRENT FINANCIAL YEAR** |Capital Fund
**PREVIOUS FINANCIAL YEAR**
Capital Fund|**Balance**
**Balance**
**01-Apr-24**
Income
Expenditure
Transfers
**31-Mar-25**
£
£
£
£
£
976,453
-
10,234
-
966,219
**976,453**
**-**
**10,234**
**-**
**966,219**
**Balance**
**Balance**
**01-Apr-23**
Income
Expenditure
Transfers
**31-Mar-24**
£
£
£
£
£
986,687
-
10,234
-
976,453
**986,687**
**-**
**10,234**
**-**
**976,453**| |---|---| The designated funds held are represented by the CIO's fixed asset investments. ## **6. RESTRICTED FUNDS** ## **CURRENT FINANCIAL YEAR** |Bowls Club
**PREVIOUS FINANCIAL YEAR**
Bowls Club|**Balance**
**Balance**
**01-Apr-24**
Income
Expenditure
Transfers
**31-Mar-25**
£
£
£
£
£
-
-
-
-
-
**-**
**-**
**-**
**-**
**-**
**Balance**
**Balance**
**01-Apr-23**
Income
Expenditure
Transfers
**31-Mar-24**
£
£
£
£
£
(161)
-
-
161
-
**(161)**
**-**
**-**
**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. 14 ## **SHALFORD VILLAGE HALL (SURREY)** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2025** ## **7. CASH AT BANK AND IN HAND** |Cash at Bank and in Hand|Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Fund
Fund
Fund
**31-Mar-25**
**31-Mar-24**
£
£
£
**£**
**£**
56,578
-
-
56,578
68,277
**56,578**
**-**
**-**
**56,578**
**68,277**| |---|---| ## **8. DEBTORS AND PREPAYMENTS** |Prepayments
Sundry Debtors|Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Fund
Fund
Fund
**31-Mar-25**
**31-Mar-24**
£
£
£
**£**
**£**
3,233
-
-
3,233
3,233
2,864
-
-
2,864
465
**6,097**
**-**
**-**
**6,097**
**3,698**| |---|---| ## **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-25**
**31-Mar-24**
£
£
£
**£**
**£**
1,020
-
-
1,020
960
15,959
-
-
15,959
15,646
**16,979**
**-**
**-**
**16,979**
**16,606**| |---|---| ## **10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR** The CIO held no long term liabilities during this or the previous financial year. ## **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-25**
**31-Mar-24**
£
£
£
£
£
-
966,219
-
966,219
966,219
45,696
-
-
45,696
55,368
-
-
-
-
-
**45,696**
**966,219**
**-**
**1,011,915**
**1,021,587**| |---|---| 15 ## **SHALFORD VILLAGE HALL (SURREY)** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2025** ## **12. STAFF COSTS AND NUMBERS** The CIO employed no members of staff during this or the previous financial year. ## **13. PAYMENTS TO TRUSTEES AND RELATED PARTY TRANSACTIONS** No payments were made to trustees or any persons connected with them during this financial year. 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. 16