## **Well Village Institute**
## **Annual Report and Unaudited Financial Statements** For the year ended 5[th] April 2023
Registered Charity Number: 1195570
Well Village Institute (1195570)
## **Trustees Annual Report**
## For the period 6[th] April 2022 to 5[th] April 2023
The trustees present their annual report and financial statements of the charity for the year ended 5[th] April 2023. 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**
The trustees met and communicated throughout the year to conduct the charity business. The main activity this year was the continued development of plans for significant building renovations, including working with architects, structural engineers and tradesmen.
## **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 2024.
## **Structure, Governance and Management**
## _Governing Document_
The charity is a charitable incorporated organisation (foundation model) and is controlled by its Constitution, dated 19.08.2022.
## _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 2023
2
Well Village Instttute11195570)- Financial Ststements
trati e Details
Registered Charity Number- 1195570
Principal Address- Acclom House, Well, Bedale, North Yorkshire, DL8 2QF
Trustees
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..
Year Ended 5th April 2023
Well Village Institute (1195570)
## **Financial Statements**
## Statement of Financial Activities
Year Ended 5[th] April 2023
|Notes
Unrestricted
Funds
Restricted
Funds
£
£|2023
Total
£|2022
Total
£|
|---|---|---|
|_Income and Endowments from:_
Donations
556
52
Charitable Activities
3
115
-
Other
150
-|608
115
150|100,080
4,048
338|
|TOTAL INCOME AND ENDOWMENTS
821
52|873|104,466|
||||
|_Expenditure on:_
Charitable Activities
Insurance
551
-
Utilities
106
-
Building
-
2,800|551
106
2,800|-
8
12,471|
|TOTAL EXPENDITURE
657
2,800|3,457|12,479|
||||
|NET INCOME/(EXPENDITURE)
164
(2,748)|(2,584)|91,986|
||||
|_Reconciliation of Funds_
Total Funds Brought Forward
458
91,529|91,986|-|
|TOTAL FUNDS CARRIED FORWARD
622
88,781|89,403|91,986|
Year Ended 5[th] April 2023
4
Well Village Insttiute11195570)- Finanoal Statements
Balance Sheet
As at 5rh April 2023
2023 Funds
2022 Funds
Fixed Assets..
Tangible Assets
TOTAL FIXED ASSErs
90,(K)O
Current A8sets.'
Debtors
Cash at bank and in hand
24,048
80,410
104,458
89.403
89A03
TOTAL CURRENT ASSErs
Creditors (amounts falling due within one year)
12,471
Net current assets
89,403
91,986
Total assets less current liabilities
179.403
181,986
TOTAL NEf ASSETS
179,403
181,986
Funds..
UnStrICted funds:
Restricted funds:
622
178.781
179.403
458
181.529
181.986
TOTAL FUNDS
The financial statements were approved and authorised ft)r issue by the Board of Trustees on 31*
January 2024 and were signed on its behalf by..
Chair of Trustees
The notes fom) part of these financial statements.
Year Ended 5th April 2023
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 2023
6
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|2023
Total|2022
Total|
|Building Rental
115
-
Government Grants
-
-|115
-|48
4,000|
|TOTAL
115
-|115|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|
## 5. Debtors
|5. Debtors||
|---|---|
|2023|2022|
|Gift Aid
-
Grants Receivable
-
Trade Debtors
-|20,000
4,000
48|
|TOTAL|24,048|
## 6. Creditors
|6. Creditors||
|---|---|
|2023|2022|
|Trade Creditors
-|12,471|
|TOTAL
-|12,471|
## – 7. Charity Funds Current Assets
_Year Ended 5[th] April 2023_
||Opening
Funds|Incoming
Resources|Resources
Expended|Gains/(losses)|Closing
Funds|
|---|---|---|---|---|---|
|Unrestricted Funds|458|821|657|-|622|
|Restricted Funds|91,529|52|2,800|-|88,781|
|TOTAL|91,986|104,418|12,479|-|89,403|
Year Ended 5[th] April 2023
7
Well Village Institute (1195570) – Notes to the Financial Statements
|||_Year Ended 5th April_|_2022_|||
|---|---|---|---|---|---|
||Opening
Funds|Incoming
Resources|Resources
Expended|Gains/(losses)|Closing
Funds|
|Unrestricted Funds|-|466|8|-|458|
|Restricted Funds|-|104,000|12,471|-|91,529|
|TOTAL|-|104,466|12,479|-|91,986|
## 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 2023
8