## **Well Village Institute**
## **Annual Report and Unaudited Financial Statements** For the year ended 5[th] April 2022
Registered Charity Number: 1195570
Well Village Institute (1195570)
## **Trustees Annual Report**
For the period 6[th] April 2021 to 5[th] April 2022
The trustees present their annual report and financial statements of the charity for the year ended 5[th] April 2022. The financial statements have been prepared in accordance with the accounting policies set out in Note 2 to the Accounts, the Charities Act 2011, the Accounting and Reporting by Charities: Statement of Recommended Practice and the Financial Reporting Standard (FRS 102).
## **Objectives and Activities**
The purpose of the charity, as set out in its governing document, is to provide and maintain a Village Institute for the use of the inhabitants of the village of Well, in North Yorkshire, including use for meetings, lectures and classes, and other forms of recreation and leisure-time occupation, with the object of improving the conditions of life for the inhabitants.
The trustees have had regard to the Charity Commission guidance on public benefit.
## **Achievements and Performance**
Well Village Institute was registered with the Charity Commission on the 19[th] of August 2021. The trustees met and communicated throughout the year to conduct the charity business. The main activity this year was the development of plans for significant building renovations, including working with architects, structural engineers and tradesmen, and applying for planning permission. The charity also successfully applied for a grant from the Hambleton District Council’s Making a Difference Fund to replace the windows with high quality double glazing.
## **Financial Review**
The charity is in a strong financial position following a significant donation which will be used to fund building renovations which are planned for 2023.
## **Structure, Governance and Management**
## _Governing Document_
The charity is a charitable incorporated organisation (foundation model) and is controlled by its Constitution, dated 19.08.2021.
## _Recruitment and appointment of trustees_
The governing document provides for a Board of Trustees which consists of between three and eight persons. Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. The trustees will make available to each new charity trustee, on or before their first appointment: a copy of the current version of the constitution; and a copy of the CIO’s latest Trustees’ Annual Report and statement of accounts.
Year Ended 5[th] April 2022
2
W&ll Willage Institute11195570)- FinclaI Statewits
Refer
nce and Administrative Details
Registered Charity Number- 1195570
Prinapal Address- Acclom House, Well. Bedale, North Yorkshire. DL8 2QF
Leonard Mark Sampson
Ruth Ann Smirthwaite
Samuel David Oliver Webster
Signed on behalf of the Board of Trustees of Well Village Institute.
Chair of Trustees
Date..
.26th January 2023....
Year Ended 5th April 2022
W¢ll Villa9tr Institute11195570)
Inde
endent Examiner's Re
ort
to the Trustees of Well Village Institute
I report to the trustees on my examtnation of the accounts of the above charity l.the Charty~I for the
year ended 0510412022 which are set out on pages 5 to 8.
nsibilit,
ort
As the charity's trkn5tees, you are responsible for the preparation of the accounts in accordance with the
quirements of the Charities Art 2011 1~the Act").
I report in respect of my examination of the Charity's accounts carried out under Section 145 of the
2011 Act and in carying Out my examination. I have followed all the applicable Directions given by the
Charity Cornmission under section 14515)(bl of the Act.
ta
I have completed my examination. I confirrn that no material matter5 have come to my attention in
connection with the examination (other than that disclosed bèlow ty which gives me cause to believe
that in, any material respert..
the accountin9 records were not kept in accordan with section 130 of the Charities Act,. or
the accounts did not accord with the accounting records.. or
the accounts did not comply with the applicable requirements concerning the fomi and content
of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts 9ive a 'true and fair, view which is not a matter considered as part
of an independent examination.
I have no concems and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understsnding of the accounts to
be reached.
Signed
Mark Thompson. BSC FCA
Date..
023
Year ETrYed 5° April 2022
Well Village Institute (1195570)
## **Financial Statements**
## Statement of Financial Activities
Year Ended 5[th] April 2022
|Notes
Unrestricted
Funds
Restricted
Funds
£
£|2022
Total
£|2021
Total
£|
|---|---|---|
|_Income and Endowments from:_
Donations
80
100,000
Charitable Activities
3
48
4,000
Other
338
-|100,080
4,048
338|-
-
-|
|TOTAL INCOME AND ENDOWMENTS
466
104,000|104,466|-|
||||
|_Expenditure on:_
Charitable Activities
Utilities
8
-
Building
-
12,471|8
12,471|-
-|
|TOTAL EXPENDITURE
8
12,471|12,479|-|
||||
|NET INCOME/(EXPENDITURE)
458
91,529|91,986|-|
||||
|_Reconciliation of Funds_
Total Funds Brought Forward
-
-|
-|-|
|TOTAL FUNDS CARRIED FORWARD
458
91,529|91,986|-|
Year Ended 5[th] April 2022
5
Well Village In5titute111955701- Financial Ststerts
Balance Sheet
As at 5th April 2022
2022 Fur
2021 Funth
Fixed Assets..
Tangible Assets
TOTAL FIXED ASSErs
90,OCX)
CurrentAssets.'
Debtors
Cash at bank and in hand
24.048
80.410
104,458
TOTAL CURRENT ASss
Creditors (amounts fallin9 due within one year)
12,471
Net cUrnt assets
91,986
Total assets less current liabilities
181,986
TOTAL NEf ASSErs
181.986
Funds..
Unrestricted funds..
Restricted funds..
458
181,529
181,986
TOTAL FUNDS
The financial statements were approved and authorised for issue by the Board of Trustees on 261h
January 2023 and were signed on its behalf by:
Chair of Trustees
The notes fom part of these financial statements.
Year Ended 51h April 2022
Well Village Institute (1195570)
## **Notes to The Financial Statements**
## 1. Basis of Preparation
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value, with the exception of investments which are included at market value.
The accounts have been prepared in accordance with: the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014; the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102); and, the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
## 2. Accounting Policies
## _2.1 Income_
- Recognition of Income - income is recognised in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
- Grants and Donations - grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP). In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
- Tax Reclaims on donations and gifts - Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
- Contractual Income and Performance Related Grants - this is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.
## _2.2 Expenditure and Liabilities_
- Recognition of Liabilities - liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
- Basic Financial Instruments - the charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP.
## _2.3 Debtors_
- Debtors include amounts owed to the charity for the provision of goods and services or amounts the charity has paid in advance for the goods and services it will receive. Debtors also include amounts receivable on grant funding to which the charity is entitled.
- Debtors are measured at their recoverable amounts (the amount the charity anticipates it will receive from a debt or the amount it has paid in advance for goods or services).
## _2.4 Creditors_
- The charity has creditors which are measured at settlement amounts less any trade discounts.
Year Ended 5[th] April 2022
7
Well Village Institute (1195570) – Notes to the Financial Statements
## 3. Income from Charitable Activities
|Well Village Institute (1195570) – Notes to the Financial Statements
3. Income from Charitable Activities|||
|---|---|---|
|Unrestricted
Funds
Restricted
Funds|2022
Total|2021
Total|
|Building Rental
48
-
Government Grants
-
4,000|48
4,000|-
-|
|TOTAL
48
4,000|4,048|-|
## 4. Government Grants
|4. Government Grants|||
|---|---|---|
||Description|2022|
|Hambleton District Council – Making a Difference|Replacement Windows for Well Village Institute|4,000|
||TOTAL|4,000|
The grant is conditional on completion of the project and proof of expenditure. The project was completed prior to the end of the financial year and the grant claim was submitted shortly thereafter.
## 5. Debtors
|5. Debtors||
|---|---|
|2022|2021|
|Gift Aid
20,000
Grants Receivable
4,000
Trade Debtors
48|-|
|TOTAL
24,048|-|
## 6. Creditors
|6. Creditors||
|---|---|
|2022|2021|
|Trade Creditors
12,471|-|
|TOTAL
12,471|-|
## 7. Charity Funds
_Year Ended 5[th] April 2022_
||Opening
Funds|Incoming
Resources|Resources
Expended|Gains/(losses)|Closing
Funds|
|---|---|---|---|---|---|
|Unrestricted Funds|-|418|8|-|410|
|Restricted Funds|-|104,000|12,471|-|91,529|
|TOTAL|-|104,418|12,479|-|91,939|
## 8. Trustee Renumeration and Benefits
No trustees were paid any remuneration or received any other benefits from an employment with their charity or a related entity this year. No trustee expenses were incurred this year.
Year Ended 5[th] April 2022
8