HELMDON COMMUNITY FOUNDATION Charity no. 1192054 Trustees, Report and Flnanclal Statements for the year ended 31 March 2024 CHARITY COMMISSION FOR ENGLAND ANO WALES HELMDON COMMUNITY FOUNDATION Charlty no. 1192054 Trustees, Report for the year ended 31 March 2024 Objectlves and Actlvltles Summary ofthe purposes of the charity a5 set out in its governing document Helmdon Communlty Foundatlon was formed Sn October 2020 and took over the assets and responslbllltles of the Re#dln8 Room Helmdon Ireglstered no. 275715 'the former charltVI on l Aprll 2021. The maln purpose of both the former and the new charlty Is the provlslon and malntenance of a vlllage hall wlth the object of enhanclng the Ilves of the vlllage Inhabltants. Summary of the maln actlvities In relation to those purposes for the public beneflt, in particular, the activities, projects or seNlces Identlfled in the accounts. Charltable actlvltles- We provlde a meetlng hall and kltchen {the 'Readlng Room,) of a good standard and we try to attract classes, nurture groups and put on events whlch wlll be of Interest and beneflt to local people. Vlllagers use the Readlng Room as a meetlng place, café, post offlce and a space for entertalnment, drama and soclal 8atherln8s. We have our own website to keep people Inlomied, and we send out a regular newsletter to provlde Informatlon about what's happenln8 In the Readln8 Room. We work contlnually to malntaln and Improve the ReadlnB Room, and In conjunctlon wlth an archltect have developed a detalled plan for a major upgrade. Other tradlng actlvltles- Part of the property (the 'Reèdlng Room Cottage'l Is rented to a local resldent under an Assured Shorthold Tenancy Agreement. The net income from this agreement Is wholly used to support our charltable actlvltles. Statement confirming that the trustees have had regard to the CommissSon's publlc benefit guidance Contributlon made by volunteers The Charlty Comml551on's publlc beneflt guldance underlles the trustees, work for the charlty. In partlcular, we strlve to make the Readlng Room an attractive venue with good fa¢llities which is acce55ible to all. Increaslngly we see our role as not simplv passlve - we alm to encourage and promote vlllage events centred on the Readlng Room for the benefit of the communlty. All our trustees and team members are volunteers who glve freely of thelr tlme and skills. We are extremely grateful to all of them. Achievements and Performance Summary of the main achievements of the charity, identifylng the difference the charity's work has made to the cSrcum5tances of Its beneficiaries and any wlder benefits to soclety as a whole, Durlng the course of the year, the trustees have continued to Implement thelr improvement plan to provlde better facllltles whlch are open to the village for Increased hours. We can now provlde a meetlng place on an ad h¢x basls in addltion to planned events. To ensure securlty we have Installed ccrv coverinz all entrance polnts. The hall extenslon area whlch was used largely as storage for tables and chalrs has been turned Into 'Helmdon's Llvlng Room, through provlslon of bespoke cupboards to house all these Items and the addltlon of a carpet, comfortable 5eatln8, and a hot drlnks machlne. A new hlstory cupboard ha5 been added to brlng together Helmdon's hlstorl¢al Informatlon and addltlonal cupboards are now used to create an Informatlon bank of local knowledge and useful help. To Improve our carbon footpr5nt we have Installed solar panels Ilnked to batterles whlch can store cheaper ele¢trlclty and wlll send our surplus back to the grld. Taklng advants8e Of our generatlng power, we havè put In a new Infra-red system to heat the smaller dlscrete areas In a gradual move away from f05511 fuels. We have refltted the accesslble to51et wlth easy-clean surfaces and created a more modern look. Local resldents have commented posltlvely on the Improvements and are beglnnln8 to use the facllltles on an ad hoc basls durlng the addltlonal openln8 hours. The lo¢al councll has re8lstered the bulldlng as a partner Ivelcomlng Spa¢e'. Our vlslon Is gradually lakln8 Shape. Flnanclal Revlew Review of the charity's financlal position at the end of the period Our financlal posltion at the end of the year remains healthy. We have been awarded grants to revlta115e and modern15e the bulldin& and we are usln8 the funds we recelve for that purpose. Statement explaining the pollcy for holding reserves, 5tatin8 why they are held. The rnalntenan¢e of a large Vlctorian buildln8 is extremely expensive. We regard net current assets of £10,000 as the mlnlmum level of reserves required for repairs when needed. Net current assets at the year end were In excess of thls because we have accrued funds to fulfil our Improvement plans. Amount of reserves held The charitvs total funds at the year end were £477,590. However, thls Includes the book value of the property and other fixed asset5 {£437,578) whlch are shown on our balance sheet. Reserves avallable for expenditure {net current a55et5} were therefore £40,012 at the year end compared wlth £51,671 last year. Note about the charity continuing as a goin8 concern There are no materlal uncertaintles about the charlvs ablllty to contlnue operatlng. Some of the former charlty's trustees have Contlnued as trustees of Helmdon Communlty Foundatlon to ensure contlnulty In the management ofthe Readlng Room. Structure, Governance and Management Descri tlon of char5t '$ trusts.. Type of 8overning document The ¢harfty Is governed by a con5tltutlon dated 9 October 2020 and reglstered wlth the Charlty Commlsslon on 28 October 2020. How Is the charity constituted? The charfty Is a Charltable Incorporated Or8anlsatlon I'CIO,). Trustee selectlon methods Includlng details of any constitutional provlslons The flr5t 5 trustees were named In the charlty's constitutlon, whlch requlre5 at least 5 but no more than 9 trustees. Under that constltutlon, the exlstlng trustees may appolnt new trustees by advertlslng vacancles in Helmdon at least 30 days before ¢onslderln8 appllcatlons. The trustees must conslder all appllcatlons from resldents of Helmdon, and take Into account the skllls, knowledge and experlence of each appllcant. Trustees may serve for a maxlmum of 2 consecutlve 3 year terms. Membership of other organisations RelationshSp wlth any related parties The charlty Is a mèmber of Northamptonshire ACRE, whlch supports communlty charltles In rural areas. Trustees are not remunerated for thelr servlces, but any reasonable expense5 they Incur are relmbursed. Durlng the year the charlty engaged a skllled tradesman related to a trustee to carry out renovatlon work to the value ot £1,140. The charlty had no other tran5actlons with related partles. All transactlons are prlced at arm's length. Reference and Administratlve detalls Charity name Other name the charity uses Registered charity number Charity's prlncipal address HELMDON COMMUNITY FOUNDATION elmdon Readlng Room 119Z054 Premi5es.' Helmdon Readlng Room, 20 Church Street, Helmdon, Brackley NN13 50J Correspondence: Melfort, loa Church Street, Helmdon, Brackley NN13 5aJ Helmdon Communlty Foundatlon holds the legal tltle to the property known as the Readlng Room, whlch Includes the Readlng Room Cottage. Title to the charity's property The trustees who mana8e the charltv Name Offlce Morag Underwood Chalr / Safeguardln Angela Goodall Vice Chair / Health & Safety Lorna Clarke Glllian Garner Andrew Harris Christo her Mount Ga Turner Paul Underwood PhlllSp Ward Dates acted If not for whole perlod resi ned 1416123 appointed 7111123 Website Treasurer Sustainabillty The trustees declare that they have approved the above report. Si8ned on behalf of the charity's rustees.. Morag Chair ood 14 May 2024 a) w c a) o a)0 (ry££ 3£3 HELMDON COMMUNITY FOUNDATION Chority no. 1192054 Statement of flnanclal actlvltles for the year ended 31 March 2024 Unrestrlcted fund$ Re5trirted funds Total 2024 Total 2023 Note Income from: Charitable activities Donations and legacles Other tradlng actlvltles Investments Separate material Stem of income TOTAL INCOME 11,813 1,440 7,675 654 27,225 48,807 11,813 1,440 7,675 654 27,225 48,807 9,376 1,565 7,375 387 3,475 22,178 Expendlture on: Charitable activities Ralslng funds Other trading actlvltles TOTAL EXPENDITURE 23,758 23,758 9,619 106 1,294 11,019 2,580 26,338 2,580 26,338 NET INCOME 22,469 22,469 11,159 Transfers between funds Net movement in funds 13 22,469 22,469 11,159 Total funds at be8innln8 of year Total funds at end of year 455,121 477,590 455,121 477,590 443,962 455,121 13 Thls statement Includes all Balns and losses recognlsed In the year, including depfecbation of £7,49512023'. £1,661). All Income and expendltuie is derlved from continuln8 actlvlties. The note5 on the following pa8es form part of these financial statements. HELMDON COMMUNITY FOUNDAnoN Balance sheet at 31 March 2024 Charity no. 1192054 2024 2023 Note FIXED ASSETS Tangible assets 437,578 403,450 CURRENT ASSETS Debtors Cash at bank and in hand Total current assets io 10,301 38,264 48,565 5.052 47,784 52,836 li Credltors Amounts falling due within one year NET CURRENT ASSETS 12 18,5531 40,012 11,1651 51,671 Total assets less current Ilabllltles 477,590 455,121 TOTAL NEf ASSETS 477,590 455,121 Funds of the charltv Unrestricted funds RestrS¢ted funds 477,590 455,121 TOTAL FUNDS 13 477,590 455,121 Approved by the tru5tee5 Qn 14 May 2024 and $18ned on thelr behalf bv Paul Underwood Treasurer HELMDON COMMUNITY FOUNDATION Charity no. 1192054 Note5 to the accounts for the year ended 31 March 2024 l. Ac¢ounting pollcles The charlty These accounts present the financial activltles and balance sheet of Helmdon Community Foundation I'the charity'l which is re8lStered with the Charlty Commission for England and Wales Ire8lstered no. 11920541. The charlty Is an individual entity with no subsidiaries or associates. The charity was established by its constitution as a charitable incorporated organisation on 9 October 2020 and reglstered on 28 October 2020, The charlty had no financial transaction5 until l April 2021. the date on which it took over the assets and respon5ibilltles of the Readlng Room Helmdon Iregistered no. 2757151. Basls of A¢countln8 These accounts have been prepared in accordance wlth the Statement of Recommended Practice for charltles, the Financial Reportin8 Standard applicable in the UK I'FRS 102,1, and the Charlties Act 2011. Bein8 a small entity, the charity has taken advantage of the exemptlon In FRS 102 not to publish a Statement of Cash Flows, The accounts have been prepared in £ Sterling under the historical cost convention with Items recognised at cost or transactlon value unless otherwlse stated in the notes. The princlpal accounting policies whlch have been consistently applied within that conventlon are set out below. Income Income Is recognised in the year Sn which the charity is entltled to receipt, provlded the amount can be measured wlth reasonable certainty. Expendlture Expenditure is accounted for in the year In which it is incurred. The charity is not registered for VAT and therefore input VAT payable on expenses Is included with the item of expense to which it relates. Costs are apportioned between activltles as follow5: Choritoble activitles 50% 75% 70% Other trading activities 50% 25% 30% Independent examinerfs fee Insurance Legal fees related to the property HEIMDON COMMUNITY FOUNDATtON Chority no. 1192054 Note5 to the accounts for the year ended 31 March 2024 Icontinuedl l. Accountlng pollcles (continued) Tanglble Flxed Assets and Depreclatlon Depreciation is provided to write off the cost less the estlmated rèsidual value of tanglble fixed a55ets by equal instalments over their estimated useful live5 as follows: Buildings Furniture, fixtures & equipment 50 years 5 years Land is not depreclated. Expendlture is capltallsed If the asset purchased can be used for more than one year and costs at least £500. Flnanclal Instruments {debtors, credltors and dep051tsl Debtors and credltors are stated at the settlement amount, after any trade dlscounts. Full provision is made for doubtful debts. Bank and building society deposlts are stated at the cash amount including any accrued Interest. All such accounts are fully covered by the FSCS deposlt protection scheme. therefore any credit risk is minimal. Llabllltle$ Liabilities are recognised where it Is more Ilkely than not that there Is a legal or constructlve obll8atlon to pay out, and the amount can be measured with reasonable certainty. Restrlcted Funds Restricted funds arise where donors place restrictions on how a donatlon can be spent. The charlty had no restrlcted funds at the year end or previous year end. Unrestrlrted Funds These are funds which can be used in accordance with the objects of the charity at the discretion of the trustees. Golng concern There are no materlal uncertainties about the charlty's abllity to continue operating. HELMDON COMMUNITY FOUNDATION ChG¢rity no. 1192054 Note5 to the accounts for the year ended 31 March 2024 Icontinuedl UnrestrS¢ted funds Restrlcted fund5 Total 2024 Total 2023 2. Income from charltable actlvltles Village café Hire of hall by local clubs and organlsations Hlre of hall for ad hoc events Events organised by the charlty Fundralslng TOTAL 3,Qk)O 4,354 795 3,595 69 11,813 3,000 4,354 795 3,595 69 11,813 3,002 3,833 1,115 1,310 116 9,376 3. Income from donatlons and lega¢les 200 Club donations Other donatlons recelved TOTAL 1,300 140 1,440 1,300 140 1,440 1,300 265 1,565 4. Income from other tradlng artlvltles Rent from the Reading Room Cottage TOTAL 7,675 7,675 7,675 7,675 7,375 7,375 5. In¢orne from separate materlal Item Grants recelved to refurbish and improve the village hall TOTAL 27,225 27,225 27,225 27,225 3,475 3,475 HELMDON COMMUNITY FOUNDATION Chority no. 1192054 Notes to the accounts lor the year ended 31 March 2024 Icontinuedl Unrestrlrted funds Restrlcted funds Total Total 2023 2024 6. Expendlture on charltable actlvltles Cleaning Depreciation Electricity Events or8anised by the charlty Flre safety Heatlng oll Insurance Legal and professional fees Repairs and maintenance Small a55ets and improvements written off Other runnlng costs TOTAL 1,820 6,595 1,340 3,268 386 934 754 782 5,065 1,682 1,132 23,758 1,820 6,595 1,340 3,268 386 934 754 782 5,065 1,682 1,132 23,758 1,662 761 901 765 310 1,468 696 42 1,495 451 1,068 9,619 The charSty dld not employ anyone during the year, nor in the previous year, and therefore had no staff costs. None of the trustees received any remuneratlon or benefit5 for fulfillin8 their duties with the charlty, HELMDON COMMUNITY FOUNDATION Charity no. 1192054 Notes to the accounts for the year ended 31 March 2024 Icontinuedl Unrestrlcted fund5 Restrlcted funds Total 2024 Total 2023 7. Expendlture on other tradlng artlvltles Depreciation Insurance Legal and professlon31 fees Repairs and maintenance Small a55ets and improvements written off Other runnlnB Costs TOTAL 900 249 42 526 737 126 2,580 900 249 42 526 737 126 2,580 900 232 42 120 1,294 8. Support costs Total expenditure includes the followlng support costs.. Hall booklng system Provlslon for Independent examlnels fee Overprovision for independent examiner's fee in prior year Membership of Northamptonshire ACRE Data protection fee Meeting expenses TOTAL 120 loo 1161 48 35 120 100 1161 48 35 120 loo 1161 40 36 280 287 287 Support costs whlch do not relate speclfically to charitable activlties or other trading activities are allocated equally to those two categories. No other fees were paid to the independent examiner. HELMDON COMMUNITY FOUNDATION Charity no. 1192054 Notes to the accounts for the year ended 31 March 2024 Icontinuedl 9. Tanglble flxed assets Land & bulldlngs Furnlture, fittlngs & equlpment Total Cost At beginnin8 of year Addition5 400,000 9,311 41,623 409,311 41,623 At end of year 400,000 50,934 450,934 Depre¢lat5on At beginnin8 of year Charge for the year 5,600 1,400 261 6,095 5,861 7,495 At end of year 7,000 6,356 13,356 Net book value At 31 March 2024 393,IXIO 44,578 437,578 At 31 March 2023 394,400 9,050 403,450 Land and buildlngs comprlse the property known as the Readlng Room and the Reading Room Cottage as fitted out at the time of it5 valuatlon. The trustees have relied upon an assessment of the property's fair value by a registered valuer and have adopted that fair value as its deemed cost. None of the above assets are held under a flnance lease or similar contract12023.. £Nill At 31 March 2024 the charity had no contractual commitments for the acquisition of tangible fixed assets12023: £NIII HELMDON COMMUNITY FOUNDATION Chority no. 1192054 Notes to the accounts for the year ended 31 March 2024 Icontinuedl 2024 2023 10. Debtors Trade debtors Prepayments and accrued income TOTAL 1.683 8,618 10,301 1,327 3,725 5,052 11. Cash at bank and In hand Bank current account 8uildin8 Society deposlt Cash in hand TOTAL 12,840 24,195 1,229 38,264 6,124 41,541 119 47,784 12. Credltor5: Amounts fallln8 due wlthln one year Trade creditors Accruals and deferred income TOTAL 8,183 370 8,553 150 1,015 1,165 Deferred income is rent received for the property in advance of the period to which It relates. All Income deferred in the prlor year has been reported as income in the current year. HELMDON COMMUNITY FOUNDATION Chority no. 1192054 Notes to the accounts for the year ended 31 March 2024 Icontinuedl Unrestrlcted Re5trlcted Total Total funds funds 2024 2023 13. Funds of the charlty Total funds at be8inning of period Net income for the perlod Transfers between funds TOTAL FUNDS AT END OF YEAR 455,121 22,469 455,121 22,469 443,962 11,159 477,590 477,590 455,121 The oblect of the charSty Is to provide and malntain a vlllage hall In order to Improve the conditlons of Ilfe for local people. As the charlty's oblect satisfies the ori8inal deed of gift, the property does not constitute a restricted fund. There15 no separate trust within the charltv. All income from grants awarded to refurbish and Improve the village hall were substantlally spent on the specSfied projects by the year end. The charity has not recelved any other Income whose use Ss restrlcted to purposes narrower than the object of the charity. The charlty therefore had no funds with restrlctlons on expendlture at 31 March 202412023.. £Nill.