2022-03-31-accounts

Summary ofthe purposes of		Helmdon Community Foundation was formed in October 2020 and took over the assets and responsibilities ofthe Reading
the charity as set out in its		Room Helmdon (registered no. 275715 'the old charity') on 1April 2021. The main purpose ofboth the old and the new
governing document		charity isthe provision and maintenance of a village hall with the object ofenhancing the lives ofthe village inhabitants.
Summary ofthe main activities		Charitable activities - We provide a meeting hall and kitchen (the 'Reading Room') ofa very high standard and we aim to
in relation to those purposes		attract new classes and events which we believe will be ofinterest and benefit to local people. The book and DVD swap is
for the public benefit, in		proving very popular with both adults and children, and the twice weekly Post Office is well used. We have set up our own
particular, the activities,		website as a means ofcommunicating more easily with villagers sowe can keep people informed.
projects or services identified	in
the accounts.		Other trading activities —Part ofthe property (the 'Reading Room Cottage') is rented to a local resident under an Assured
		Shorthold Tenancy Agreement. The net income from this agreement is wholly used to support our charitable activities.
Statement confirming that the		The Charity Commission's public benefit guidance underlies the trustees' work for the charity. In particular, we strive to make
trustees have had regard to the		the Reading Room an attractive venue, accessible to all with good facilities. Increasingly we see our role as not simply passive
Commission's public benefit		-we aim to encourage and promote village events centred on the Reading Room for the benefit ofthe community.
guidance
Contribution made by		All our trustees and team members are volunteers who give freely oftheir time and skills. We are extremely grateful to all of
volunteers		them.

Summary ofthe main		Due to the continuing Covid pandemic, it was difficult to achieve anything while restrictions were in place. However, we
achievements ofthe charity,		succeeded in creating this new charity (Helmdon Community Foundation CIO) with a constitution better suited to modern life.
identifying the difference the		The Clo structure allows local people to participate as trustees without fear of personal liability. We have been working	with
charity's work has made to the		a local architect to identify priorities for updating the building, and are planning a second annual village festival to re-unite all
circumstances of its		sectors ofthe community.
beneficiaries and any	wider
benefits to society as	a whole.	Wherever possible we have allowed access to the public in a Covid-safe environment. Cleaning procedures have been
		reviewed and improved and we have continued to provide a regular post Office service to the village. The ever-popular	village
		cafe on a T'uesday morning has operated whenever the rules permitted, which has allowed many elderly folk to meet up	with
		their friends and reduce isolation. However, most village organisations have met only infrequently during the period. On the
		plus side we have been able to offer an educational space to a young man and his helper. We continue to search for
		opportunities to provide fitness and educational benefits to the village.
Financial Review
Review ofthe charity's	financial	Thanks to local authority grants received during the pandemic, and continuing rent from the Reading Room Cottage, we	have
position at the end of	the	been able to cover further maintenance work, as well as the cost of restructuring the charity and taking legal ownership	ofthe
period		property. Our financial position at the period end remains healthy.
Statement explaining	the policy	The maintenance ofa large Victorian building is extremely expensive. We regard net current assets of610,000 as the
for holding reserves, stating		minimum level of reserves required to carry out repairs when needed. As net current assets at the year end were in excess of
why they are held.		this, we have an opportunity to bring forward periodic maintenance and improvements in the new financial year.
Amount ofreserves held		The charity's total funds at the period end were 6443,962. However, this includes the book value ofthe property (6395,800),
		which is shown on our balance sheet. Reserves available for expenditure (net current assets) were therefore 648,162at	the
		period end. The net current assets ofthe old charity at 31March 2021were f37,949,

Note about the charity	There are no material uncertainties about the	There are no material uncertainties about the	There are no material uncertainties about the	There are no material uncertainties about the	charity's	charity's	ability	to	continue	continue	operating.	operating.	operating.
continuing as a going concern
	Some ofthe old charity's	trustees have		continued as		trustees		of Helmdon			Community			Foundation		to ensure continuity				in the
	management ofthe Reading Room.
Structure, Governance	and Management
Description of charity's trusts:
Type ofgoverning document	The charity is governed by a constitution			dated	9October 2020 and					registered		with the Charity Commission						on 28	October
	2020.
How is the charity constituted?	The charity is a Charitable	Incorporated		Organisation			('CIO').
Trustee selection methods	The first 5trustees were	named in the	charity's		constitution,			which		requires at			least	5 but	no more than 9trustees.				Under
including details ofany	that constitution, the existing trustees		may appoint			new trustees			by advertising				vacancies		in Helmdon		at least 30days			before
constitutional provisions	considering applications.	The trustees	must consider				all applications			from residents				of Helmdon,		and	take	into account		the
	skills, knowledge and experience ofeach applicant.
	Trustees may serve for a	maximum of 2		consecutive		3year terms.
Membership ofother	The charity is a member	ofNorthamptonshire			ACRE,	which supports				community			charities		in rural	areas.
organisations
Relationship with any related	The assets and liabilities	ofthe Reading		Room	Helmdon (the			old	charity) were			transferred			to Helmdon		Community		Foundation
parties	on 1April 2021.
Reference and Administrative details
Charity name	HELMDON COMMUNITY	FOUNDATION
Other name the charity uses	Helmdon Reading Room
Registered charity number	1192054
Charity's principal address	Premises: Helmdon Reading Room, 20			Church	Street,		Helmdon,		Brackley		NN13		SQI
	Correspondence: Melfort, 10a Church		Street,		Helmdon, Brackley				NN13 SQJ

The	trustees who manage the charity
	Name	Office	Dates acted ifnot for whole period
1	Morag Underwood	Chair
2	Angela Goodall	Vice Chair
3	Lorna Clarke	Safeguarding
4	Christopher Mount	Website manager	appointed 1/11/21
S	Paul Underwood	Treasurer
6	Phillip Ward	Sustainability
	Jo-anne Bearman		1/2/21 —7/3/21
	Simon Harris		1/2/21 —23/4/22
	David Newton		1/2/21 —26/S/21
	Helen Riches		1/2/21 —26/S/21

				Unrestricted	Restricted	Tota I
				funds	funds	2022
			Note		f
Income from:
Charitable activities				5,957		5,957
Donations and legacies				1,330		1,330
Other trading activities				7,150		7,150
Investments				154		154
Separate material item of income				10,667		10,667
TOTAL INCOME				25,258		25,258
Expenditure on:
Charitable activities				14,281		14,281
Other trading activities				2,164		2,164
TOTAL EXPENDITURE				16,445		16,445
NET INCOME				8,813		8,813
Transfers between funds
Transfer offunds from predecessor		charity	13	435,149		435,149
Net movement in funds				443,962		443,962
Total funds at beginning	of period
Total funds at end of period			13	443,962		443,962

		Note
FIXED ASSETS
Tangible assets			395,800
CURRENT ASSETS
Debtors		10	2,264
Cash at bank and in hand		11	46,911
Total current assets			49,175
Creditors
Amounts falling due within one year		12	(1,013)
NET CURRENT ASSETS			48,162
Total assets less current	liabilities		443,962
TOTAL NET ASSETS			443,962
Funds ofthe charity
Unrestricted funds			443,962
Restricted funds
TOTALFUNDS		13	443,962

Costs are ap	portioned b	etween activities as	follows:
			Charitable activities	Other trading	activities
Independent	examiner's	fee	50%	50%
Insurance			75%	25%
Legal fees related to the		property	70%	30%

			Unrestricted	Restricted	Tota I
			funds	funds	2022
					E
2. Income from charitable	activities
Village Cafe			1,901		1,901
Hire of hall by local clubs and organisations			2,390		2,390
Hire of half for ad hoc events			740		740
Events organised by the charity			926		926
Fundra ising
TOTAL			5,957		5,957
3. Income from donations	and legacies
200 Club donations			1,300		1,300
Other donations received			30		30
TOTAL			1,330		1,330
4. Income from other trading activities
Rent from the Reading Room Cottage			7,150		7,150
TOTAL			7,150		7,150
5. Income from separate	material	item
Grants received from local	authority	re: Covid-19	10,667		10,667
TOTAL			10,667		10,667

					Unrestricted	Restricted	Total
					funds	funds	2022
							E
6. Expenditure		on charitable		activities
Cleaning					1,607		1,607
Depreciation					500		500
Electricity					594		594
Events organised		by the charity			1,803		1,803
Fire safety					112		112
Heating oil					743		743
Insurance					1,156		1,156
Legal and professional			fees		3,629		3,629
Repairs and maintenance					3,166		3,166
Other running	costs				971		971
TOTAL					14,281		14,281

						Unrestricted	Restricted	Total
						funds	funds	2022
7. Expenditure	on	other trading activities
Depreciation						900		900
Insurance						385		385
Legal and professional			fees			755		755
Other running	costs					124		124
TOTAL						2,164		2,164
8. Support costs
Provision for independent				examiner's	fee	100		100
Property valuation		fee				256		256
TOTAL						356		356

9. Tangible f	ixed assets
			Land &	Furniture	&	Total
			buildings	equipment
Cost
At beginning	of period
Transfer from	predecessor	charity	400,000			400,000
Additions
At end of period			400,000			400,000
Depreciation
At beginning	of period
Transfer from	predecessor	charity	2,800			2,800
Charge for the period			1,400			1,400
At end of period			4,200			4,200
Net book value
At 31March	2022		395,800			395,800
At 28 October 2020

			2022
10. Debtors
Trade debtors			1,160
Prepayments and accrued income			1,104
TOTAL			2,264
11. Cash at bank and	in	hand
Bank current account			13,154
Building Society deposit			33,654
Cash in hand			103
TOTAL			46,911
12. Creditors: Amounts		falling due within one year
Accruals and deferred	income		1,013
TOTAL			1,013

			Unrestricted	Restricted	Tota I
			funds	funds	2022
				E
13. Funds ofthe charity
Total funds at beginning	of period
Transfer offunds from predecessor		charity	435,149		435,149
Net income for the period			8,813		8,813
Transfers between funds
TOTAL FUNDS AT END OF PERIOD			443,962		443,962