## Cottesmore Village Hall Management Committee ## Charity No; 1194997 ## Trustee’s Report: Financial Year April 2023 – March 2024 ## Introduction The final accounts were completed and the formal review and verification process by the independent external examiner was undertaken during April 2024. The increase in the assets is entirely related to lower than planned expenditure resulting from the delay in the Music event and the essential groundworks to replace the soakaway. Both the event and the groundworks were undertaken in April 2024 in the new financial year. Total Income: £25,132.26 (excluding grants and Feed in Tariff (FiT). The income in the year increased because of several new activities. Tai Chi increased their booking to twice weekly, and children’s karate increased the length of their booking by 50%. In addition, there was an increase in the number of casual hiring events in the latter part of the year. The major increase in income came from the annual firework display with income up over £1,000. Despite the hot summer income from the solar panels through the FiT was lower than previous years. The remainder of the income received in the financial year was through grant funding, which was received from Cottesmore Parish Council and Foyle Foundation. Expenditure: £17,948.16 (excluding grant funding and special projects/investments) an increase from the previous year, however the delay in the groundworks and the Music events would have seen the expenditure significantly higher. Expenditure was higher than previous years for electricity, insurance, fireworks, and refuse. Oil consumption was lower than the previous year and prices dropped from the enormous increases during the latter part of 2022/23. The grant funding was used to replace the original electrical distribution boards with funding from the Foyle Foundation. Cottesmore Parish Council funded the much-needed repair and resurfacing of the Hall floor. The Charity set aside funds to replace the Hall radiators and combined with the new floor, the Hall looks in excellent condition. The Charity in immensely grateful to both the Foyle Foundation and the Parish Council for their support in continuing to improve the hall for all residents, hirers, and visitors to the Community Centre. ## Accounts Review The External Verifier raised a single concern in the review of the accounts. This concern relates to the performance of McNeill’s (Cottesmore AFC Enterprises) use of the Social Club and in particular their financial viability and the inability to make regular payments. As part of this concern, is recognition that the rent has been reduced each of the last two years and late payments have increased, despite this support from the Village Hall. The final accounts were signed on 23[rd] 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 last 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 in the soakaway. The committee remains very concerned over the performance of the social club – McNeill’s and continued delays in rental payments as highlighted by the External Verifier. 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 that commenced in September 2023. 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 improve its financial performance, while continuing to address the many challenges with the building fabric. A new Events Group was created to develop new income opportunities for the Charity. The success of the first event in April this year has left the team feeling heartened by the local support. A new morning sports activity booking commenced in March, for two hours a week , it is hoped that this will lead to other activities taking place in the Hall. The committee has worked hard to grow income to keep in line with inflation and this will continue through future financial years. A new electricity contract was agreed in 2023 until October 2026 and will provide some certainty over this cost centre. New income and expense lines have been added to the budget, to reflect the monthly bingo added to the programme, along with one or two major events later in the year. The Film Club grew in popularity throughout the year and consequently, this has been reflected in the budget for 2024/25. As in previous years, there remains 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 Leicester, Leicestershire and Rutland Community fund and it is hoped, this will support the replacement of the Main Hall lighting later in the Year. The Parish Council has again generously supported a grant application, to support the refurbishment of the Hall toilets. This work will be match funded by the Charity and it is hoped to complete the work, without major disruption to the bookings programme. The Committee was delighted to attract new members during the last year, who are already making an impact in the Charity’s work, supporting the Events Group and other activities available at the Hall. 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. New volunteers will bring new ideas and spread the workload to enable greater activities in the future. 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 2024 Cottesnmyre Will¢7qe Hall Income and ExpendI￿reAl￿Unt..Ap11l2O23 to March 2024 Income 2023124 2022123 Expendlture lonces Brou ht Fonvard 2022123 2023124 1,374.IN) Contrart Cleaner 1.635.88 Insurance 3.108.88 Electricity 2.485.04 Oil 383.81 Water 488.98 Repairs and Maintenance 712.40 Fire/H&S 1.00 Ground Rent 2.155.73 Refuse Collertion 183.62 Consumables 3,484.71 Firework Displav 480.86 Licenses 21.IXI Donations and Gifts 344.93 Film Expenses 56.03 Stationery 252.80 Commlttee Expenses 1.488.00 1.757.62 4,319.88 1.331.40 429.88 725.69 397.20 10.00 2,478.57 289.38 3,715.90 223.46 20.00 474.91 18.99 267.28 0.00 Savings Account 22,621.45 Current Account 101.00 Cash 28.576.19 306.1X) 22,722.45 Sub Total 7.673.CQ Regular Hall Hire 1.968.00 Prlvate Hall Hire 0.00 Changing Room/Field Rent 0.00 Ground Rent 5,842.28 Firework Display 5,375.CKI Sports & Social Club rent 868.C4) Film Shows- Ticket sales 0.00 New Activity 8,793.50 2.039.25 7.484.18 5.070.33 1,254.1XJ 491.iJ) 21,726.28 Sub Totsl 25,132.26 17,169.67 Sub Total 17,948.16 Donatio 0.(￿ Grant/Fundin8 52.00 Gift Aid 2,221.13 Feed in Tariff - PV Panels 50.C(l Miscellaneous Mlscellaneous Misc Equipment O.CKI Capital Expenses O.C4) New Activlty 720.IJ) RCC Membership 8,680.CM) 132.62 12,024.00 157.00 2.176.06 2.323.13 Sub Totol 10,856.06 720.tX) Sub Total 12,313.62 Mlscelloneous lan 0.00 Inland Revenue 0.00 Bank Interest 0.00 Equipment/Key deposlvmaintenance O.lJ) Savings Account 28,576.19 Cuffent Account 306.(h) Cash 15.000.00 19,487.09 3CKI 178.36 0.00 Sub Trtol 178.36 28 882.19 Sub Totol 34,787.09 46.771.86 Total 65,048.87 46.771.86 Totol 65,048.87 Certified that the above summary of accounts is a true and fair record of the Cottesmore Village Hall book of accounts for the financial year ending 3110312024 Treasurer 1310412024 Inde ndent Examiner 23/0412024 lan Pluck Fo¥ Cottage 27, The Leas Cottesmore LE15 7DG David O W Wallace Fir Tree Barn Main street Cottesmore LE15 7DJ Pa8elofl