## Cottesmore Village Hall Management Committee 

## Charity No; 505092 

Treasurer’s Report: 

Financial Year April 2021 – March 2022 

## Introduction 

The final accounts were completed and the formal review and verification process by the independent external examiner was completed in April. The accounts confirm current assets of £22,718 compared to £24,250 in 2020/21.  The fall in the assets is a result of lower income due to the impact from the pandemic in the first quarter and again in December 2021. 

Total Income:  £20,036 (excluding grants and Feed in Tariff (FiT) an increase from the previous year.  Other income included FiT and grant funding of £5,139.  Grant funding from the FCC Communities Foundation was received towards the kitchen refurbishment and Omicron funding from Central Government resulted in a total income in the year of £27,100.  The previous financial year 2020/21 benefitted from significantly more grant funding from Central Government and the Parish Council but very little income for hire. 

Expenditure:  £28,643 an increase of £6,400 on the previous year. There were several special items of expenditure during the year.  £2,940 legal costs relating to the charity changes and a Licence to Occupy for the Social Club.   A contribution towards the FCC Communities Foundation and further Health and Safety expenditure accounted for a further £5,520. 

## Accounts Overview 

Overall, as with the previous year, the financial year was a significant challenge, and the Management Committee was pleased with the final financial performance result, recognising that without Government and a successful Grant funding application, the outcome would have been significantly worse. 

## The Future 

The Charity hopes to continue its recovery but remains concerned with the challenges it faces in the current economic situation with cost continuing to spiral. There remains a considerable amount of outstanding work necessary to maintain the building fabric in the Community Centre and Hall in a good condition and this will undoubtably provide financial challenges in the years to come, and the need to find suitable grant funding to support the Charity is essential. 

Increases in the major areas of expenditure, in particular oil, with a 60% increase in the price of oil from January 2022 and it is likely this will increase further pressures on the Charity during the financial year. 

The Charity has continued to benefit from significant support from the Parish Council, both financially through grant funding and further through the joint PC/Village Hall bi-monthly liaison group. The liaison meeting has enabled greater discussion of related topics for the mutual benefit of both parties. 

During the year both parties have continued to work together on finalising a new Charity vehicle, namely a Charitable Incorporated Organisation (CIO).  The registration of the new body is complete, and work is now progressing on a new lease and constitution. 

The Committee would welcome all offers of help to support the few dedicated volunteers currently involved and to enhance this valuable community asset enabling the continued development of the hall's potential. 

As always, in closing, I would like to express my sincere thanks to my fellow Trustees, for their support, guidance and good humour, it continues to be a pleasure to work with you all. 

Ian Pluck – Treasurer/Trustee 

For and on behalf of Cottesmore Village Hall Trust and Management Committee 



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