Cottesmore Village Hall Management Committee
Charity No; 1194997
Trustee’s Report:
Financial Year April 2022 – March 2023
Introduction
The final accounts were completed and the formal review and verification process by the independent external examiner was undertaken in April. The increase in the assets is entirely related to lower than planned expenditure resulting from the delay in the floor and radiator investment planned for 2023/24.
Total Income: £21,726.28 (excluding grants and Feed in Tariff (FiT) a slight increase from the previous year. FiT income was marginally higher than 2021/22, however there was no grant funding received during the financial year.
Expenditure: £17,889 a decrease from the previous year, and the delay in the hall investment.
Accounts Review
The External Verifier sought clarification of two areas of expenditure. The first, related to an increase in fire alarm repairs in January and February, seeking details of the cause and eventual resolution. This intermittent fault was resolved following four site visits. The second, was clarification of the solicitor’s invoice which lacked detail in the nature of the service provided. The service provided related to the transfer of assets from the original Charity to the new Charitable Incorporated Organisation (CIO).
The External Verifier also sought clarification over the rates of hire for organisations outside of Cottesmore. The club concerned was a children’s activity and consequently charged at a lower rate.
The final accounts were signed on 21[st] April and included with this report.
I would like to express my sincere thanks to David Wallace, External Verifier, for once again, reviewing the Charity’s accounts and financial performance and providing a prompt but invaluable review, challenge, and detailed examination of the finances.
Charity Overview
The financial year was a significant challenge, and the Management Committee was pleased with the final financial performance result, acknowledging the result was better due to delayed expenditure investment. The committee remains very concerned over the performance of the social club – McNeill’s and continued delays in rental payments.
The Charity has continued to benefit from significant support from the Parish Council, through grant funding and the joint PC/Village Hall bi-monthly liaison group. The liaison meeting has enabled greater discussion on essential joint issues and related topics for the mutual benefit of both parties. This culminated in finalising the major project and agreeing a new lease and trust deed.
On behalf of the Management Committee, I would like to express our thanks to the regular hirers of the facility, their volunteers for ensuring a wide and varied activity programme is available to residents and visitors to the Parish of Cottesmore.
The Future
The Charity hopes to continue to recover its financial performance, although income is still significantly lower than pre-pandemic levels. Most of the clubs have returned to use the hall however the major difference relates to one regular booking, accounting for the largest annual income, that has not returned.
Uncertainty in the major areas of expenditure, in particular electricity and oil remain a concern and it is likely this will increase further pressures on the Charity during the financial year.
There is a considerable amount of essential work necessary to maintain the building fabric in the Community Centre and Hall in a good condition. The Committee feel this will continue to provide financial challenges in the years to come, and the need to find suitable grant funding to support the Charity is essential.
A funding application was submitted to the Foyle Foundation, for a grant towards a replacement electrical distribution board. It is hoped this essential work will resolve the ongoing power surges/failures resulting from the use of the Multi court during the winter months.
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.
In closing, I would like to express my sincere thanks to my fellow Trustees, along with the remainder of the Cottesmore Village Hall Management Committee, for their support, guidance, hard-work, endeavour, 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
30[th] April 2023
Cottesmore Willage Hall Income ond Expenditure Account.. Apri12022 to M(Trch 2023 2022123 202V22 Expenditure 2021122 Incorne Balonces Brou ht Fonvord 2022123 1.088.00 Contrart Cleaner 1,576.42 Insurance 2.961.36 Electricity 2.889.40 Oil 271.05 Water 734.85 Repairs and Maintenance 744.86 Fire/H&S l.¢J) Ground Rent 1,786.63 Refuse Collection 179.36 Consumables 2.942.84 Firework Display 1,338.11 LInseS 21.Crf) Donations and Gifts 109.63 Film Expenses 49.29 Stationery 0. Committee Expense5 1,374.00 1,635.88 3.108.88 2,485.04 383.81 488.98 24,103.77 Current Account 147.00 Cash 22.621.45 lo1.) 24.250.77 Sub Totol 22,722.45 712.40 1.00 2,155.73 183.62 3,484.71 480.86 21.00 344.93 56.03 252.80 6.066.75 Regular Hall Hire 1.752.25 Private Hall Hire 0.00 Changing Room/Field Rent 0.00 Ground Rent 6,844.12 Firework Display 4,915.00 Sports & Social Club rent 458.00 Film Shows- ficket sales 0.00 Pool Table 0.00 Play Income 7,673.LKI 1.968.00 5.842.28 5.375.(K) 868.(X) o. 20,036.12 Sub Totol 21.72&28 16.693.80 Sub Totol 17,169.67 Donations 5,139.00 Grant/Funding 52.00 Gift Aid 1,883.84 Feed in Tariff - PV Panels 0.00 Miscellaneous MIS11(1neouS 52.(MJ 2,221.13 11.835.48 Capttal Expenses so. Stationery/Misc Equipment 60.1)O RCC Membership 0.00 0.00 720.00 7.074.84 Sub fotol 1323.13 11.945.48 Sub Total 720.(XI Miscelloneous Balan Corned Forward 0.00 Inland Revenue 0.00 Bank Interest O.CK) EquipmenVKey deF)OSit/Maintenance 22.621.45 Current Account 101.INJ Cash 28,576.19 306.00 Sub Totol o.ixl 22.722.45 0.00 28.882.19 51,361.73 Totol 51,361.73 Total 46 771.86 Certified that the above summary of accounts is a true and faTr record of the Cottesmore Village Hall book5 of accounts Treasurer 13104n023 Inde ndent Examiner 21/: la5 lan Pluck Fox Cottage 27. The Leas Cottesmore LE15 7DG David O W Wallace Fir Tree Barn Main street Cottesmore LE15 7DJ