2026-03-31-accounts

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Cottesmore Village Hall Management Committee

Charity No; 1194997

Trustee and Treasurer’s Financial Report

Trustees/Treasurer’s Report: Financial Year April 2025 – March 2026

Introduction and Overview

The final accounts were reviewed and signed off by an independent external examiner and verification of the year-end result for the Charity during April. Overall, the Charity had a better financial result in the year than anticipated when the draft budget was approved by the Management Committee.

There was a marginal fall in the Charity’s assets as expected due to the large capital investment in the Village Hall facilities. The outcome was a significant improvement of the budget forecast with the capital works completed on time. An unexpected bonus from the investment was the reduced expenditure relating to the Legionella recommendations. The liability insurance was renewed with a new provider recommended through the Rural Community Council. The financial year again benefited from the receipt of the grant funding from the Parish Council in the year.

Income: The final income was £43,195. (excluding grant funding and the Feed in Tariff (FiT), with a total income of £50,766. The income in the year increased as a result to full year impact of the new bookings. The regular hall hire increase by 20% over the previous year and private hire was 50% lower, primarily the result of the increase in regular hire, reducing time available for other bookings.

Other areas of income were lower than the previous year, most notably the annual firework display with a 33% fall on the previous two years. The events income was marginally lower than the first year of operation, this was primarily a result of an alteration to the style of the event, with a smaller audience and an improved atmosphere. Bingo sessions started the year well, but due to falling attendance, the sessions ceased in December.

Other income received was Grant funding from the Parish Council of £5,000 towards the toilet refurbishment, this was in addition to the £5,000 received in the previous year as the work programme was implemented over two financial years.

Expenditure: Total expenditure was £50,897 an increase of £13,100 on the previous year. There were several special items of expenditure during the year, primarily the complete refurbishment of the hall toilets. In addition, the flat roof over the kitchen and social area bar was replaced. Finally, there was essential alterations to the water system. The total capital investment in the community Centre exceeded £27,700. General operational expenditure was 3% lower than the previous year, notable due to a new insurance provider, reduction electricity consumption and saving in repairs and maintenance following the capital investment.

Investment in the building fabric with the support of grant funding accounted for a 55% of the year’s total expenditure. Another large investment in the building fabric is planned for the new financial year as the Trustees continues to seek to improve the facility.

Accounts Overview

Overall, as in recent years, this financial year was no different and was a significant challenge, and the Management Committee was absolutely delighted with the outcome of the financial performance, but without a successful Grant funding application, the outcome would have been significantly different. There was a small and unexpected smaller loss in the year, it was expected this loss would have been much larger. The income grew from hall hire throughout the year, and while the annual

firework event was a disappointment the other areas of improvement more than compensated for this shortfall.

Accounts Review

The External Verifier three queries with the accounts and these were:

• ➢ With the large capital investment, had the Charity obtained more than one quote for the works? It was confirmed that two quotes were obtained

• ➢ If the Chairman was still a local Parish Councillor and if any conflict of interest existed. It was confirmed the Chair had ceased to be a Parish Councillor

• ➢ As in previous years, there remained a concern in the financial viability of McNeill’s (Cottesmore AFC Enterprises) use of the Social Club. It was noted the Management Committee continues to offer a rent reduction for a third year, although he also noted that payments were no more regular.

It is not clear if this situation can be sustained into the future and the new financial year, may be critical to both organisations and any future relationship.

The final accounts were signed on 15[th] 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 witnessed an increase in overall income, for the second successive year. The Committee, with external funding support has continued to invest heavily in the Community Centre as a whole. It is expected that this will continue for several more years in the future. Overall, the committee hope the significant work that has been undertaken will provide a base from which to secure the future of the Community Centre.

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.

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. Further, the new hirers in Lavender Mill, Oakham Swing Dance and Rutland U3A have added to the varied programme of activities that are offered to the community.

The Future

The Community Centre will be 50 during the new financial year, opening in July 1976. The Events Group will look to celebrate this milestone, with our partners and regular hirers.

The year has proved to be quite successful, with a financial result far better than we could have hope or planned to achieve. The increased usage, while reducing private bookings has resulted in a sustainable income stream, which has created the base from which the Management Committee can plan and invest in the future. However, continuing success will require controlled spending. The Parish Council has generously supported the Management Committee’s desire to invest in the building and the value of this support cannot be understated.

As reported in previous annual reviews, there is a considerable amount of work 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 for the foreseeable future.

The Committee agreed in March to retain hire charges at the previous level for another financial year, for a third consecutive year. However, in the light of a new electricity contract, due for renewal in October, the committee indicated it would review charges in August/September.

The Events Group continues to add a new dimension to our activities and attract new visitors to enjoy a welcoming social atmosphere and new business and opportunities.

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 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 and the Village Hall Management Committee for their continuous support, guidance and good humour. It continues to be a pleasure to work you all and manage the Village Hall for the benefit of the community and visitors to Cottesmore.

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

Ian Pluck Trustee/Treasurer May 4, 2026

Cotte5M￿ Willqqe Hallln¢ome and ExpenditureAccounL. Apn"12025 to March 2026 Income 2025n6 2024125 Balunees Brou ht Forward 2024125 Expenditure 2025126 1.301.25 Contrart Cleaner 1.593.80 Insurance 3,703.57 Elettricity 3,265.10 Oil 980.99 Water 1.959.96 Repairs and Maintenance 2.107.95 Fire/H&S 10.iJ) Ground Rent 2.752.25 Refuse Collection 388.79 Consumables 4.235.70 Firework Displav 244.22 Licenses O.IXI Donations and Glfts 532.48 Film Expenses 0.00 Stationery 270.CKI Committee Expenses 141.63 Bin80 50.40 IT 1.225.44 Music Event 1,087.50 1,635.72 4,306.89 2,581.90 1.195.57 814.42 816.96 10.00 3.065.41 741.57 4,576.00 244.22 0.00 568.39 0.00 180.00 22.51 62.21 1,201.76 15,CK)O.00 Savings Account 19,487.09 Current Account 300.00 Cash 25.(KX).(MI 21.963.01 703.95 34,787.09 Sub Tot41 47,66&96 11,981.50 Regular Hall Hire 3,024.75 Private Hèll Hire 8.444.57 Firework Display 5,711.74 Sports & Social Club rent 1,290.00 Fllm Club 1,020.75 Entertainment/Bin80 S,599.￿ Lavender Mill 0.00 New Activity 14.413.35 2.116.75 5,614.59 5,716.43 1,329.70 342.32 9.750.00 37,072.31 Sub Totol 39 283.14 24763.53 Sub Total 23,111.03 Donatlons 8,000.c￿ Grant/Fundin8 120.00 Gift Aid 2.097.02 Feed in Tariff - PV Panels 250.00 Spon50rshlp 225.00 Miscellaneous S clol Items O.(J) Misc Equipment 12.568.57 Capital Expenses 0.￿1 Essential Repairs O.IX) Other 5,OCQ.CX) 120. 2.570.47 250.00 99.38 26,886.81 800.00 10,692.02 Stsb Total 7.94Q47 1156&57 Sub Total 27,786.19 Iscelloneous orrled 0.00 Donatlons 230.14 Bank Interest 2,217.50 Special Events 100.00 1.629.96 1,812.50 25.iJXI.00 Savings A¢count 21.963.01 Current Account 703.95 Cash 20,000.00 27,415.81 120.00 2,447.64 Sub Total 3.542.46 47,666.96 Sub Totol 47,535.81 84,999.06 Total 98.433.03 84,999.i Totol 98.433.03 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 3V0312026 Treasurer 1310412026 Ind endent Examiner 16104/£o26 lan Pluck Tod Cottage 44. Main Street . Market Overton LE15 7PL David O W Wallace Fir Tree garn Main street Cottesmore LE15 7DJ Pagelofl