**Treasurer’s Report to AGM 5[th] March 2022** The summary sheet below shows the accounts for the period 1[st] January 2021 to 31 December 2021. An audit of the accounts was carried out by the registered accountants Gossington & Elliots of Gosport who have no direct link to the organisation. 

This is the first business year of the organisation and the first full audit of these accounts.  To fall in line with the March AGM, each financial accountant period for the organisation will commence in 01 January (Month 1) to 31 December (Month 12). 

Due to this being our inaugural year some expenditure committed through grants; outlay has been greater than normal.  This was exasperated by unplanned maintenance to the kitchen and toilets that had to be completed prior to the project opening.   The largest drain on our finances as predicted are the utility bills which during the winter months can reflect a monthly loss. These losses reverse to monthly surplus during the warmer months when the expensive heating system is not required.  With careful management of the heating system, we have greatly reduced the previously reported figures provided by Hampshire County Council. 

The grant award from the National Lottery (FY 2022/23) is approximately £18,000 per annum which pays for our part time Administrator, Community events and £1000 @ year towards utilities. This grant which commenced in June 21 will run for five years.  Whilst our balance looks healthy it must be remembered that we are contracted to fund events through the money received from the National Lottery. 

The initial target for the project of £1,000 a month income is now exceeding £1300 per month and rising each month as we bring in more facilities and members into the project. Maintaining our current progress, I expect that by the next reporting period income will be nearer £1500. 

Events organised by the Events Manager are providing a good additional income. The balance sheet will show events running at a loss, however, contained within the events figures are the free events funded by the National Lottery (approx £350 @ month), that as part of the grant allocation we must provide.  The Tea room is now running at a respectable surplus, particularly in Months 10 to 12 as it has gained more popularity with the community.  The shop has also increased sales from the donated items and locally made produce. 

## **Future targets** 

The Treasurer has recommended to the Trustees that the organisation builds up the reserves account which is held in the Wessex Community bank. It is intended to bring reserves to £6000 which will allow the organisation 6 months running costs.  Currently reserves are under £2000 with a target date to reach £6000 by FY 24/25. 

## **Bank accounts as of 31 December 21.** 

|**Lloyds Business account**|**£25,400.81**|
|---|---|
|**Wessex Community bank (reserves)**|**£1,135.00**|
|**Petty Cash**|**£20**|



To the best of my knowledge this is a true and accurate picture of the accounts of Elson Community Library and Hub as audited by our accountants as of the 31 December 2021. 

Jamie Hutchison 



Treasurer

**Date:** 17/01/2022 **Time:** 16:45:18 

**Page:** 1 

**Elson Community Library Period Trial Balance** 

**To Period:** Month 12, December 2021 

|**N/C**<br>0020<br>0021<br>0030<br>0031<br>0040<br>0041<br>1200<br>1210<br>1230<br>2210<br>2230<br>4000<br>4002<br>4100<br>4200<br>4300<br>4400<br>4500<br>4600<br>5000<br>5002<br>5200<br>6101<br>6200<br>6202<br>7002<br>7105<br>7301<br>7302<br>7350<br>7352<br>7400<br>7500<br>7501<br>7503<br>7604<br>7800<br>7807<br>7904<br>8001<br>8002<br>8004|**Name**<br>Plant and Machinery<br>Plant/Machinery Depreciation<br>Office Equipment<br>Office Equipment Depreciation<br>Furniture and Fixtures<br>Furniture/Fixture Depreciation<br>Bank Current Account<br>Bank Deposit Account<br>Petty Cash<br>P.A.Y.E.<br>Pension Fund<br>Donations Received<br>Sales<br>Grants<br>Membership<br>Collection Boxes<br>Room Hire<br>Tea Room<br>Communiity Events<br>Purchases<br>Sundry Purchases<br>Training Projects<br>Advertising<br>Tea Room supplies<br>Community Events Expenses<br>Water Rates<br>Electricity<br>Postage and Carriage<br>Office Stationery<br>Telephone and Fax<br>Computer and Software<br>Equipment Hire<br>Repairs and Renewals<br>Cleaning<br>Health & Safety<br>Insurance<br>Gross Wages<br>Employers Pensions<br>Professional Fees<br>Plant/Machinery Depreciation<br>Furniture/Fitting Depreciation<br>Office Equipment Depreciation<br>**Totals:**|**Debit**<br>468.99<br>3,081.60<br>4,155.45<br>25,400.81<br>1,115.00<br>20.00<br>478.82<br>1,026.38<br>37.49<br>879.40<br>1,709.62<br>1,970.78<br>338.63<br>4,468.61<br>295.11<br>882.24<br>351.89<br>127.94<br>34.80<br>668.03<br>567.35<br>367.71<br>404.50<br>3,272.25<br>321.90<br>291.20<br>93.99<br>616.60<br>831.45<br>54,278.54|**Credit**<br>93.99<br>616.60<br>831.45<br>13.56<br>72.80<br>1,381.79<br>4,438.20<br>41,807.60<br>355.00<br>774.35<br>445.00<br>1,651.54<br>1,796.66|**Credit**|
|---|---|---|---|---|
||||54,278.54||





## **James Hutchinson** 

## **trading as Elson Community Hub Library** 

## **Unaudited Accounts** 

**31 December 2021** 



**James Hutchinson trading as Elson Community Hub Library Contents** 

Pages 

Page 1 



**James Hutchinson trading as Elson Community Hub Library Client Approval** 

I approve the accounts of James Hutchinson trading as Elson Community Hub Library which comprise the Profit and Loss Account, the Balance Sheet and the related notes. I acknowledge my responsibility for the accounts, including the appropriateness of the applicable financial reporting framework as set out in Note 1 to the Accounts, and for providing Gossington & Elliott Limited with all information and explanations necessary for their compilation. 

James Hutchinson 31 December 2021 

Page 2 



**James Hutchinson trading as Elson Community Hub Library Profit and Loss Account** 

## **for the year ended 31 December 2021** 

|**Turnover**<br>Cost of goods bought for resale or goods used<br>**Total cost of sales**<br>**Gross loss**<br>**Other business income**<br>**Expenses**<br>Wages, salaries and other staff costs<br>Rent, rates, power and insurance costs<br>Repairs and renewals of property and equipment<br>Phone, fax, stationery and other office costs<br>Advertising and business entertainment costs<br>Accountancy, legal and other professional fees<br>Depreciation and loss/profit on sale of assets<br>Other business expenses<br>**Net profit**<br>**Self-Employment Income Support Scheme Grant**<br>**Net profit after SEISS**|**2021**<br>**£**<br>(1)<br>5,185<br>5,185<br>(5,186)<br>52,650<br>3,999<br>5,375<br>668<br>1,657<br>879<br>291<br>1,542<br>440<br>14,851<br>32,613<br>-<br>32,613|-|
|---|---|---|
|||-|



Page 3 



**James Hutchinson trading as Elson Community Hub Library Balance Sheet** 

## **at 31 December 2021** 

|**at 31 December 2021**|||
|---|---|---|
||**Notes**|**2021**|
|||**£**|
|**Fixed assets**|||
|Equipment, machinery and vehicles|2|3,699|
|Other fixed assets|3|2,465|
|||6,164|
|**Current assets**|||
|Bank/building society balances||26,516|
|Cash in hand||20|
|||26,536|
|**Current liabilities:**Amounts falling due within one year|||
|Other liabilities and accruals||87|
|||87|
|**Net current assets**||26,449|
|**Total assets less current liabilities**||32,613|
|**Net business assets**||32,613|
|**Capital account**|||
|Net profit||32,613|
|Balance at end of period||32,613|



Page 4 



**James Hutchinson trading as Elson Community Hub Library Notes to the Accounts** 

## **for the year ended 31 December 2021** 

## 1 **Accounting policies** 

## **Accounting basis** 

The accounts have been compiled on a basis that enables profits to be calculated in accordance with UK Generally Accepted Accounting Practice and that provides sufficient and relevant information to enable the completion of a tax return. 

## 2 **Equipment, machinery and vehicles** 

|**Cost**<br>Additions<br>At 31 December 2021<br>**Depreciation**<br>Charge for the year<br>At 31 December 2021<br>**Net book values**<br>At 31 December 2021<br>3<br>**Other fixed assets**<br>**Cost**<br>Additions<br>At 31 December 2021<br>**Depreciation/Amortisation**<br>Charge for the year<br>At 31 December 2021<br>**Net book values**<br>At 31 December 2021|**Plant &**<br>**machinery**<br>**£**<br>469|**Fixtures,**<br>**fittings &**<br>**equipment**<br>**£**<br>4,155|**Total**<br>**£**<br>4,624|
|---|---|---|---|
||469|4,155|4,624|
||94|831|925|
||94|831|925|
||375|3,324|3,699|
|||**Premises**<br>**£**<br>3,082|**Total**<br>**£**<br>3,082|
|||3,082|3,082|
|||617|617|
|||617|617|
|||2,465|2,465|



Page 5 



**James Hutchinson trading as Elson Community Hub Library Detailed Profit and Loss Account** 

## **for the year ended 31 December 2021** 

|**Turnover**<br>**Cost of goods bought for resale or goods used**<br>Purchases<br>Closing stock<br>Cost of goods used<br>Total cost of goods bought for resale or goods used<br>**Total cost of sales**<br>**Gross loss**<br>**Other business income**<br>Rental income<br>Business bank interest received<br>Bad debts recovered<br>Other business income<br>**Wages, salaries and other staff costs**<br>Salaries/wages<br>Pension costs<br>Staff welfare<br>Staff training<br>**Rent, rates, power and insurance costs**<br>Business and water rates<br>Light, heat and power<br>Premises cleaning and similar service charges<br>**Repairs and renewals of property and equipment**<br>Repairs and maintenance of business premises<br>**Phone, fax, stationery and other office costs**<br>Telephone, fax and broadband<br>Postage and couriers<br>Stationery and printing<br>Software, IT support and related costs<br>**Advertising and business entertainment costs**<br>Advertising and PR|**2021**<br>**£**<br>(1)<br>1,505<br>3,680|
|---|---|
||5,185|
||5,185|
||5,185|
||(5,186)<br>4,438<br>41,808<br>3,893<br>2,511|
||52,650|
||3,272<br>322<br>368<br>37|
||3,999|
||339<br>4,469<br>567|
||5,375|
||668|
||668|
||352<br>295<br>882<br>128|
||1,657|
||879|
||879|



Page 6 



**James Hutchinson trading as Elson Community Hub Library Detailed Profit and Loss Account** 

|**James Hutchinson trading as Elson Community Hub Library**<br>**Detailed Profit and Loss Account**|||
|---|---|---|
|**Accountancy, legal and other professional fees**<br>Other legal and professional fees<br>**Depreciation and loss/profit on sale of assets**<br>Depreciation<br>**Other business expenses**<br>General insurance<br>Sundry expenses<br>**Net profit**<br>**Self-Employment Income Support Scheme Grant**<br>**Net profit after SEISS**|291<br>291<br>1,542<br>1,542<br>405<br>35<br>440<br>32,613<br>-<br>32,613|-|
|||-|



Page 7 



**James Hutchinson trading as Elson Community Hub Library Extended Trial Balance** 

**for the year ended 31 December 2021** 

Turnover Other business income 

Cost of goods bought for resale or goods used 

Construction Industry - payments to subcontractors Wages, salaries and other staff costs 

Car, van and travel expenses Rent, rates, power and insurance costs 

Repairs and renewals of property and equipment Phone, fax, stationery and other office costs 

Advertising and business entertainment costs Interest on bank and other loans Bank, credit card and other financial charges Irrecoverable debts written off Accountancy, legal and other professional fees 

Depreciation and (profit)/loss on sale of assets 

Other business expenses 

Equipment, machinery & vehicles 

Page 0 



**James Hutchinson trading as Elson Community Hub Library Extended Trial Balance** 

Other fixed assets 

Bank/building society balances 

Cash in hand Stock and work in progress Trade debtors Other current assets and prepayments Current liabilities 

Long term liabilities Capital account 

Page 1 



**James Hutchinson trading as Elson Community Hub Library Extended Trial Balance** 

|Sales<br>Other business income - General Sales<br>Other business income - Grants<br>Other business income - Community Events/Tea Room<br>Other business income-Membership/ Donations<br>Opening stock<br>Purchases<br>Tea Room & Event Supplies<br>Gross payments to subcontractors<br>Salaries/wages<br>Pension costs<br>Staff welfare<br>Staff training<br>Vehicles - insurance and licence fees<br>Rent<br>Business and water rates<br>Light, heat and power<br>Premises cleaning and similar service charges<br>Repairs and maintenance of business premises<br>Telephone, fax and broadband<br>Postage and couriers<br>Stationery and printing<br>Software, IT support and related costs<br>Advertising and PR<br>Bank loan interest payable<br>Bank and credit card charges<br>Bad debts<br>Accountant's and bookkeeper's fees<br>Other legal and professional fees<br>Amortisation of goodwill/investments<br>Depreciation - Equipment<br>Depreciation - Plant and machinery<br>Depreciation - Fixtures, fittings and equipment<br>Information and publications<br>General insurances<br>Sundry expenses<br>Plant and machinery - Cost - b/fwd<br>Plant and machinery - Cost - additions<br>Plant and machinery - Depreciation - charge for year|Original Trial<br>Balance<br>**£**|
|---|---|
||-|
||(4,438.20)|
||(41,807.60)|
||(3,893.20)|
||(2,511.14)|
||-|
||1,505.20|
||3,680.40|
||-|
||3,272.25|
||321.90|
||367.71|
||37.49|
||-|
||-|
||338.63|
||4,468.61|
||567.35|
||668.03|
||351.89|
||295.11|
||882.24|
||127.94|
||879.40|
||-|
||-|
||-|
||-|
||291.20|
||-|
||831.45|
||93.99|
||616.60|
||-|
||404.50|
||34.80|
|||
||(32,613.45)|
|||
||-|
||468.99|
||(93.99)|



Page 2 



## **James Hutchinson trading as Elson Community Hub Library Extended Trial Balance** 

|**James Hutchinson trading as Elson Community Hub Library**<br>**Extended Trial Balance**||
|---|---|
|Fixtures, fittings and equipment - Cost - additions<br>Fixtures, fittings and equipment - Depreciation - charge for year<br>Premises - Cost - b/fwd<br>Equipment - Cost - additions<br>Equipment - Depreciation - charge for year<br>Current accounts<br>Deposit accounts<br>Petty cash<br>Raw materials and Consumables<br>Trade Debtors - Sales Ledger<br>Other Debtors and prepayments<br>Bank Overdrafts<br>PAYE/NIC<br>Other creditors and accruals<br>Bank loans<br>Balance at start of period|4,155.45|
||(831.45)|
||-|
||3,081.60|
||(616.60)|
||25,400.81|
||1,115.00|
||20.00|
||-|
||-|
||-|
||-|
||(13.56)|
||(72.80)|
||-|
||-|
|||
||32,613.45|
|||
||-|



Page 3 



**James Hutchinson trading as Elson Community Hub Library Extended Trial Balance** 

|Final Trial<br>Balance<br>**£**<br>-<br>(4,438.20)<br>(41,807.60)<br>(3,893.20)<br>(2,511.14)<br>-<br>1,505.20<br>3,680.40<br>-<br>3,272.25<br>321.90<br>367.71<br>37.49<br>-<br>-<br>338.63<br>4,468.61<br>567.35<br>668.03<br>351.89<br>295.11<br>882.24<br>127.94<br>879.40<br>-<br>-<br>-<br>-<br>291.20<br>-<br>831.45<br>93.99<br>616.60<br>-<br>404.50<br>34.80<br>(32,613.45)<br>-<br>468.99<br>(93.99)|Final Rounded<br>Trial Balance<br>**£**<br>1<br>(4,438)<br>(41,808)<br>(3,893)<br>(2,511)<br>-<br>1,505<br>3,680<br>-<br>3,272<br>322<br>368<br>37<br>-<br>-<br>339<br>4,469<br>567<br>668<br>352<br>295<br>882<br>128<br>879<br>-<br>-<br>-<br>-<br>291<br>-<br>831<br>94<br>617<br>-<br>405<br>35<br>(32,613)<br>-<br>469<br>(94)|Prior Period<br>NOT DEFINED<br>**£**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|Prior Period<br>NOT DEFINED<br>**£**|
|---|---|---|---|
||||-|
||||-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|
||||-|
||||-<br>-<br>-|



Page 4 



**James Hutchinson trading as Elson Community Hub Library Extended Trial Balance** 

|4,155.45<br>(831.45)<br>-<br>3,081.60<br>(616.60)<br>25,400.81<br>1,115.00<br>20.00<br>-<br>-<br>-<br>-<br>(13.56)<br>(72.80)<br>-<br>-<br>32,613.45<br>-|4,155<br>(831)<br>-<br>3,082<br>(617)<br>25,401<br>1,115<br>20<br>-<br>-<br>-<br>-<br>(14)<br>(73)<br>-<br>-<br>32,613<br>-|-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|
|---|---|---|---|
||||-|
||||-<br>-|
||||-|
|||||
||||-|



Page 5 



**James Hutchinson trading as Elson Community Hub Library Other Data Entry** 

## **Other Data Entry** 

_Sections for entries:_ 

## **1. CONTENTS** 

## **2. CLIENT APPROVAL** 

## **3. ACCOUNTANTS REPORTS** 

## **4. PROFIT AND LOSS ACCOUNT** 

## **1. CONTENTS** 

## _**Enter page numbers in the grey cells below:**_ 

_Page numbers should be entered as a single number or a range. Do not enter zero's and if only one page, enter the single number in the re cell in column I except for the Balance Sheet._ 

_grey cell in both columns. If the Balance Sheet consists of more than one then enter the range into the grey cells._ 

Contents Client Approval Accountant's Report _Profit and Loss Account Balance Sheet Notes to the Accounts_ 


**----- Start of picture text -----**<br>
1<br>**----- End of picture text -----**<br>



## **2. CLIENT APPROVAL** 

_Balance sheet to be presented? - Enter N if_ _**not** required:_ 

## **3. ACCOUNTANTS REPORTS** 

_Date of engagement letter:_ 

## **4. PROFIT AND LOSS ACCOUNT** 

_Self-Employment Income Support Scheme Grant included in Other Business Income_ 

Page 0 



**James Hutchinson trading as Elson Community Hub Library Other Data Entry** 


**2021 £ £** - - 

Page 1 



**James Hutchinson trading as Elson Community Hub Library Other Data Entry** 

Page 2 



## **Summarised Trial Balance for Period 01/01/2021 to 31/12/2021 for James Hutchinson** 

||**Original Trial**|**Aggregated**|**Final Trial**|
|---|---|---|---|
||**Balance**|**Journals**|**Balance**|
||**£**|**£**|**£**|
|Other business income||||
|Other business income - General Sales|(4,438.20)|-|(4,438.20)|
|Other business income - Grants|(41,807.60)|-|(41,807.60)|
|Other business income - Community Events/Tea Room|(3,893.20)|-|(3,893.20)|
|Other business income-Membership/ Donations|(2,511.14)|-|(2,511.14)|
|Cost of goods bought for resale or goods used||||
|Purchases|1,505.20|-|1,505.20|
|Tea Room & Event Supplies|3,680.40|-|3,680.40|
|Wages, salaries and other staff costs||||
|Salaries/wages|3,272.25|-|3,272.25|
|Pension costs|321.90|-|321.90|
|Staff welfare|367.71|-|367.71|
|Staff training|37.49|-|37.49|
|Rent, rates, power and insurance costs||||
|Business and water rates|338.63|-|338.63|
|Light, heat and power|4,468.61|-|4,468.61|
|Premises cleaning and similar service charges|567.35|-|567.35|
|Repairs and renewals of property and equipment||||
|Repairs and maintenance of business premises|668.03|-|668.03|
|Phone, fax, stationery and other office costs||||
|Telephone, fax and broadband|351.89|-|351.89|
|Postage and couriers|295.11|-|295.11|
|Stationery and printing|882.24|-|882.24|
|Software, IT support and related costs|127.94|-|127.94|
|Advertising and business entertainment costs||||
|Advertising and PR|879.40|-|879.40|
|Accountancy, legal and other professional fees||||
|Other legal and professional fees|291.20|-|291.20|
|Depreciation and (profit)/loss on sale of assets||||
|Depreciation - Equipment|831.45|-|831.45|
|Depreciation - Plant and machinery|93.99|-|93.99|
|Depreciation - Fixtures, fittings and equipment|616.60|-|616.60|
|Other business expenses||||
|General insurances|404.50|-|404.50|
|Sundry expenses|34.80|-|34.80|
||___________|___________|___________|
|**TOTAL : Profit And Loss Account**|(32,613.45)<br>___________|-<br>___________|(32,613.45)<br>___________|
|Equipment, machinery & vehicles||||
|Plant and machinery - Cost - additions|468.99|-|468.99|
|Plant and machinery - Depreciation - charge for year|(93.99)|-|(93.99)|
|Fixtures, fittings and equipment - Cost - additions|4,155.45|-|4,155.45|
|Fixtures, fittings and equipment - Depreciation - charge|(831.45)|-|(831.45)|
|Other fixed assets||||
|Equipment - Cost - additions|3,081.60|-|3,081.60|
|Equipment - Depreciation - charge for year|(616.60)|-|(616.60)|
|Bank/building society balances||||
|Current accounts|25,400.81|-|25,400.81|
|Deposit accounts|1,115.00|-|1,115.00|
|Cash in hand||||
|Petty cash|20.00|-|20.00|



Prepared by: Gossington & Elliott Limited on 09/03/2022 at 13:05 

Page 1 of 2 



## **Summarised Trial Balance for Period 01/01/2021 to 31/12/2021 for James Hutchinson** 

|Current liabilities||||
|---|---|---|---|
|PAYE/NIC|(13.56)|-|(13.56)|
|Other creditors and accruals|(72.80)|-|(72.80)|
||___________|___________|___________|
|**TOTAL : Balance Sheet**|32,613.45<br>___________|-<br>___________|32,613.45<br>___________|
||___________|___________|___________|
|**GRAND TOTALS**|-<br>___________|-<br>___________|-<br>___________|



Prepared by: Gossington & Elliott Limited on 09/03/2022 at 13:05 

Page 2 of 2