GREAT OAKLEY VILLAGE INSTITirrE CIO Registered Charlty No. 1190627 (England & Wales) REPORT AND ACCOUNTS FOR THE YEAR TO DECEMBER 31. 2024 INTRODUCTION The trustees are pleased to present their Rert and AccoLmts, wthlch have been drawn LP on an accruals basis using the historical cost cimwention in accordance with the accounting poticies set out in the note5 to the accounts. They comply with the charity's goveming document, the Charities Act 2011 and 'Accounting and Reporting by Charities: Statement of Recommended Practice ISORPI applicable to charities preparing their acCOts in accordance with the Financial Reporting Standard applicable in the United King(k>m and Republic of Ireland, (FRS 1021 {updated January 1. 20191. The trustees are resrK)nslble for the pr(xJuctTM of these acCots, lCh have been prepared to give a true and fair wew of the charity's affair5. income exceeded £25.(X(J and an independent examination of these accounts was therefore necessary. In fact. for the first time in the history of Institute. income exceeded £30,IWO. All fund5 are unrestricted. CHARITY NAME, REGISTRATION NUIABER AND ADDRESS The name of the chadty is Great Oakley Village IrtstTtute CIO, thwh It Is known by many users and residents as Great Oakley Village Hall. It is registered In England & Wale5 (No. I19c271. The Secretary, Vivien Watson, is the correspondent and her addre55 is 1A Brwke Road, Great Oakley, CORBY. NN18 8HG. The charity does not accept service of documents thro the Institute itself, which is unstaffed and has no receptacle for the receipt of CorrespeCe. TRUSTEES One trustee {Robert Morrison) resig during the year, leaving six tru5tee5. Therf are Chrls Godly)Id, Trevor Haynes, John Pear50n, Roger Skoyles. Gordon Steed and Vivien Watson. The trustees have appointed following of their nnber as officers: Chalr (Trevor Haynes},' Secretary (Vivien Watson} and Treasurer (Chris Gtxlbold). StRucniRE, GOVERNANCE AND AIANAGEMEI The charity has the legal fonn of a Charitable Incorporated Organization. It is govemed by the Constltutlon dated July 29. 2020 and managed by the trustees Shown in Paragraph 3. There has to be between three and twelve trustees and these persons. pfoFerty appointed by thelr fellow trustees, constitute the 501e meynbership of the charity. Under the Constitution, trustees must be resident viithin Great Oakley (defined in the TrLL8t Deed as being within the area known a5 Great Oakley and vrithin one kilometre of the historic Oakley Hall). but with the possibility of one being resident other than within Great Oakley. Every effort is made to encourage residents and user5 to take an interest irtr the affairs of the Institute and to encourage residents to consider putting themselves forward to becryne trustees. The trustees are required under the Constltutfon to meet at least twice each year, irt normally hold four meeting5 a year. In additic. there is frequent personal and telephone contact and e-mail correspondence between them to ensure that the Institute is managed effertively between meetings.
0EcT$ S Set down in the Corstitution. the charity exists to provide a village irtitute for the use of the inhabitants of Great Oakley without distinttion of political, religiou5 or other opinions includiro use for meetings. lectures. classes and other fomis of recreation and leisure time occupation with the object of improwng the conditions of life for the said inhabitants. PREMISES The trustee5 lease the Irystitute building Ivthich Op in August 2011) fr the head lessee, North Northamptonshire Council. The land is owned by Great Oakley Farms Lirnited (the superior landlord). The annual rental was set in 2011 and is subject to increase each two years in line with the Retail Prices Index. The lease was raSSigned to the CIO by the former unincorporated charity on March 19, 2022 and expires on September 28, 2CW. The trustees seek to maximize Lse of the Institute by regular users. While its purpose is to benefit the inhabitants of Great Oakley, it is not possible {or, in the eW of the trustees. de5irablel to restrict use to such residents. Accordingly. booking5 are accepted rt only from Great Oakley residents, but from those in the wider area (predominantly eisv*vhere vthin the area of the former Corby Borough Council). The Income generated by sh booking5 helps ensure the financTal security of the In5tTtute' wTrthout this security, there w(yJld be M facTlity for the residents of Great Oakley. Following a public ccm5ultation exercise. the trustees of the loI)rated charity detemiined during 2016 that hiring of the Institute would henceforth be restricted to regular hlrers. The tru5tee5 of the CIO have endorsed this decision. PUBLIC BENEFIT The trustees have considered the guidance prowded by the Charlty Commission and believe that their activities are wholly charitable and provide public bfIt. A full statemeybt about public benefit is available on request from the Secretary. RESERVES POUCY The tnjstees have detennined that a reserve slM)uLd be established. to represent approximately two years, income. This is to enable wffTcient funds to be available to ensure the long-tetm security and development of the Institute. including provision for major repairs and enhancements. The sum required to meet thi5 objective was of the order of £62,[ during 2024. The trustees wish to prevent the continued build-up of reserves unless or until they cease to represent two years, income or there are fimi plans to spend additional funds on either improvements or repairs to the Institute, but do not pr(v)se to reduce hiring tharges as the impact on hirers would be limited. and there remain many financial uncertainties with continued inflation and a generally unrtain ec(MMi( situation. The hourly rate for hiring the Irrtitute was increased to £12 early in 2023, following significant increases in electricity prices and TS considered to be appropriate given the general condition of the hall. This 15 judged to be g(xyJ. but it Ts expected that major maintenance and repairs will be necessary as the hall nears its fifteenth birthday. The cash reSee is held in a trNJilding soaety account, prowding seojrity under the FSCS scheme and a reasonable amount of irOme. Part of the total reserves is held in the form of fixed assets. Towards the ertd of the year, the tru5tee5 became aware of a tentIal liability in respect of VAT on ectriCTty charges. It is not possible to quantify the extertt of this. but it is believed that it may constitute around 11M of the re5erve5. DisCU55iMs with the supplier, British Gas, continue.
10. POLICIES AND PROCEDURES Being responsible for the provision of a safe, attszctive and financially secure facility. the trustees have examined the risks to vthich they, user5 and the general tmjblic are exposed and they have adopted poliries and procedures to minimize these. The principal risks and uncertainties are regularly examined and appear to the trustees to be: A shortfall 7n t(x)kings Ladi of Suitable activists Failure of a banker Cash-flow difficulties Users pemiitting inappropriate use of alcohol, tobacco or illegal prOdts Users permitting the viewing of television programmes Vandalis Continued increase5 in the cost of electricity Controls are in place to minimize these risks as vdl as other5 that have been Identified. STAFF The charity (knes not employ any staff, but e)gages the services of a cleawlhandyman. Payment is made in accordance with the recommendations of the Living Wage FouThJation. which exceed the statutory minimum wage but felt by the tnrtees to be eth7cally sustainable. 12. REVIEW OF THE YEAR AND FINANCIAL STANDING OF THE CHARir We believe that the hall remains the m05t affordable in Coty and the trustees have no wish to move from this position. A surplus of £5,411.52 was achieved, which has been added to the reserves. There was less need for expensive ma7ntenance or repair5 this year than last, but enhancements were made to the fire safety protectlon system5 and an experimental supply of new land stronger) chairs wa5 purchased following a review of those which have served the Institute and its hiiers to date. None of these items are considered fixed assets. As a result of repeated vandalism withTn the hall, Tt was necessary to make further changes to the coverage of the CCTV cameras and there 15 some Idence that this improved matters. The cleanerlhandyrnan makes a vital contribution to the running of the Institute, and we are indebted to him and to his partner who also helps. We receive much praise for the condition of our premises. The c05t of electricity reduced during the year despite greater being made of the Institute, but attention is drnwn in Paragrapth 9 of this report to the tx)ssible liability for additional VAT on supplies. both past and future. and weather CCdiOnS always affect the consumption of electricity. A5 a result of the revaluation of all business premises, the Institute lost the benefit of the small business rates relief, but retains statutory charitable relief. The increase in the rates bill has not been welcome and further costs are exFerted as transitional relief is phased out. Overall, we rate the flnancial standing of the charity as 'exceilent'. 13. PLANS FOR FLMJRE PERIODS We are confident that the Institute is providing an aNJroprTate and attractive environment for a range of activities which benefit the Ial and wider communities and s no need to change our hiring poliaes.
13. PLANS FOR FiuRE PERIODS (CtInued) We have a programme of planned maintenance (intended to be met from current incomel and believe that we shall be able to ensure that the Institute remain5 safe, attractive and up-to-date. Where fund5 permit and thls is Judged to be necessary. we shall endeavour to enhance the facilities. We continue to monitor the adequacy of car parking arnl continue to seek a solution to the shortage of this. All hirers will again be exhorted to make of the local IXLS services, so as to reduce the need for parking space aThJ to benefit the environment. We shall continue to try to identify nvi trustees, as there is a limit to how Iixig we can contlnue to rely on the existing s?x. all of thom have alrea(ty enjoyed their 71P birthdays. 14. CONCLUSION We belTeve we are running the InStite in the tst interests of the people of Great Oakley, which now consists of around 1,1KQ properties. Our biggest single challenge is to find a few people thin the wllage to join us as trustee5. 15. BALANCE SHEEf AT DECEMBER 31, 2024 {Please see the note5 Tn Settion 17 of thi5 report) At 3111212024 At 311121203 CURRENT ASSErs At bank - current account At Building Society Net value of assets (Note Al Ti)tal £14.012.44 £59.360.40 £4.121.92 £77.494.76 £9.638.85 £57,889.59 £4.870.40 £72.398.84 Debtor5 Pre-payments to traders Interest due from Building Society Hiring charges receivable £526.58 £750.CQ E263.(K) £413.48 £750.LXI Add Total Debtors £1.539.58 £1,163.48 £79,034.34 £73.562.32 Trade Creditors - due within one year British Gas - electricity North Northamptonshire Council - Insurance Accounts Examination E1.086.94 £850.CQ £588.(MJ (£2,524.94 £1.274.44 £650.LiI £540. (£2.464.44) Other Creditors Key deposits (Note B} £350. (£350.(M)) £350. (£350.00) Deduct Total Creditors 1£2.874.94) 1£2.814.44) Funds avallable at perlod end £76,160.34 £70,747.88 RECONCILIATION OF FUNDS Total funds brought ftxward Surplus (loss> for the period Total funds carried forward £70.747.88 £5.411.52 £76,159.40 £69,771.14 £976.74 £70.747.88
16. STATEIAEtrrr OF FINANCIAL AcnvmES (Please see the notes in Paragraph 17 of this reportl INCOME 2024 2023 EXPEHDrruRE 2024 2023 Hire of Institute Building Soc Interest Bowls equipment sold Bank Interest £29.3Lf2.Cil £1,470.81 £60. £17.56 £26.012.rxi £1,439.59 Electricity Premises Upkeep (Note Cl Enhancements Grass cutting (Note F} Cleaner/Hantynan PPLIPRS Insurance (Note DI Water {Note E) Rent Buslness Rates Printing and stationery Postage and telephone Miscellaneous Bank charges Depreaation *£Cots Examination £8,724.82 £5,559.99 £4,309.20 £9IXI.iJl £2,031.95 £285.89 £731.06 £497.17 £402.86 £354.43 £96.99 £5.(KJ £95.01 E60.IXJ £748.48 £636.00 £10.879.30 £10,533.82 £4.26 £720. £1,276.66 £154.13 £663.61 £273.98 £372.08 £77.70 £25.(X) £34.08 £101.42 £78.85 £748.48 £540.LXI Total £30.850.37 £27.455.85 Total £25.438.85 £26,479. 11 17. NOTES TO THE ACCOUKts A. The trustees have detemiined that irKlividual fixed assets acquired at a cost Tn excess of ESC1 shall be capitalized, and their value depreciated on a straTght-line basis over ten years starting In the year of acquisition. The following such assets have been purchased: BOUGF COST CUMULATIVE DEPRECtATIO CURREKf VALUE ccrv Wem Defibrillator Bowls mat roller CCTV enhanced 2019 2019 2019 2023 £2,658. E856.80 £1.150. £2.820.IXI £7,484.80 £1.594.80 £514.08 £690. E564. £3,362.88 £1,¢A3.20 £342.72 C460.C £2,256.¢XJ £4.121.92 8. Most hirers pay a key deposit of £25. which is refunded rf and when they cease hiring the Institute and return the kegs. The total value of deposits heid at the date of the balance sheet is shown as a cre(thtor Iliabilityl- Variations in this figure affect the overall profTt or loss for the year concerned. but are very minor given the overall level of the charlty's activities. 'Premises Upkeep. covers all exp essential to day-to-day running of the Institute,, inCIling routine fixtures and fittings, minor improvements. appliance5, repairs, consumables, maTntenance. in5pection5 and servicing (but not costs in respect of the cleaner/hano¥man or grass cutting, vh)ich are separately identified). No account is taken Tn these accounts of the value of COrumable5 of any kind on hand. D. Despite the efforts of our predecessor charlty, it has never proved possible to say with certainty what period 15 covered by the premium charged by Corby Borough CouncillNorth Northamptonshire Council INNCI in ie5pect of building5 insurar. It is believed to be charged in arrears for the CoLmciI financial year concemed, and costs are accrued on this basis. In practice. no advice of charges has been received from NNC since its fomiation in April 2021, continuing the situation encountered with Cottsy BOr0h Council. The premium for the remainlng risks is paid to a crMerCIal inwrer arKf is Straightforward. E. No prO570n is made Tn these accounts for any pre-payments or liabilities in relation to water as liabilities cannot easily be calculated wtthout acce5$ to the water meter and - in any case they are not considered likely to be material in nomial thrcumstances. The 5uppliei (Wave) prowdes accounts twice per year. F. One trustee received payTnents totalling £9CO for grass-cutting. No other trustees received payments other than by way of reimbur5ernent of actual expenditure incurred on item5 required for the effective operation of the Institute.
Adopted by the trustees ¢)n September 9, 2025 and Signed by the Chalr. Trevor Hayne5.
ha MOORE Indepondent Examlnerfs Rop)rt to the Trustees of Great Oak1 Vlllage In51itute CIO We report on the aecounts of the charity for year ended 31 December 2024. Respective responsibilities of trustees and gxaminer The chanty'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(2) of the Charilies Act 2011 (the 2011 Adl and that an indewdent ex8minatKJn 15 needgj. It is our responsibilty to.. examine the xcounts under seei 145 of the 2011 Act.. follow the pedureS lahJ down in the general Dire¢tDns given by Charty Commisston urKler section 14515){b) of the 2011 Ac( and sLe whether partular matters have come to our attenthy). 8asls of independent examin•rfs report Our examinatti)n was carried out in accordance with the general Di1)nS glven by the Chartty Commissn. An examInatic include5 a rewew of the Ount1Thg records kept by the charty and a comparison of the accounts preserrted with those records. It aLw ineludes consKleratson of any unusual items or disclosures in the accounts and seeking expL4nations from you as trustees concerning any such rnatters. The Pr(lreS undertaken do nol provide all the evidence that would be required in an audit and Consequent no opinion is given as to whether the accounts present a Irue and fair vith¥°, and the report is limited to those matters sel out in the ststement below. IndepeTrdent examÉn•rfs ststement In connection wrth our examination. rKJ matter has C)me to our attention". whth gNes us reasonable cause to belÈve that. in any material respect, the uIrements.. to keep accounting records in &x£dance wilh sectw)n 130 of the 2011 Act.. and to prepare accounts whth accord with the &counting records and compty with the accounb.ng requirements of the 2011 Act have not been met" c to which. in our opinM)n. attenth)n shoukl be df&vn in order to ertab a proper understanding of the accounts to be rexhed. Moore Chartered Accountants Oakley House Headway Business Pa 3 Saxon Way West Corby Northamptonshire NN18 9EZ Dated.. 7 August 2025