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2023-06-30-accounts

Charity Number: 1200029

THE RIDGEWOOD VILLAGE HALL COMMITTEE UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2023

THE RIDGEWOOD VILLAGE HALL COMMITTEE

CONTENTS

Charity Information 1
Trustees Report 2-3
Examiners Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Accounts 7-10

THE RIDGEWOOD VILLAGE HALL COMMITTEE

CHARITY INFORMATION

TRUSTEES: Karen Bedwell Chair Marion Love Booking Officer Colin Whitewood Committee Member 12 Ian Charles Noble Vice Chair Penelope Rowden Secretary Ian Watson Committee Member 10 Ian Smith Committee Member 6 Jane Atherton Treasurer Louise Slaughter Committee Member 7 Christine Metcalfe (appt 10/11/22) Committee Member 11 Janine Williams Committee Member 8 Sally Davis Committee Member 9 CHARITY REGISTRATION NUMBER: 1200029 CHARITY OFFICE: Ridgewood Village Hall New Road Uckfield East Sussex TN22 5TE ACCOUNTANT: Simmons Gainsford LLP 52 New Town Uckfield East Sussex TN22 5DE

1

THE RIDGEWOOD VILLAGE HALL COMMITTEE

TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2023

The trustees present their report and accounts for the year ended 30 June 2023

TRUSTEES

The trustees are :

Karen Bedwell Penelope Rowden Louise Slaughter Marion Love Ian Watson Christine Metcalfe Colin Whitewood Ian Smith Janine Williams Ian Charles Noble Jane Atherton Sally Davis

DEVELOPMENT, ACTIVITIES AND ACHIEVEMENTS

The charity continued to let the hall to cover the costs of its maintenance and its community events. Fundraising events were again organised to generate savings for future improvements to the hall.

When reviewing the charity’s aims and objectives and in planning future activities, the Trustees have considered the Charity Commission’s general guidance on public benefit.

FINANCIAL REVIEW AND FUTURE DEVELOPMENTS

There was a reduced surplus of £7,563 this year due to a higher repairs and maintenance spend. In addition, overheads continued to rise this year for utilities.

RESERVES POLICY

It is the policy of the charity that unrestricted funds should be maintained at a level equivalent to approximately £6,000 to cover the administrative costs of the charity for 12 months if the hall is closed. The current reserves held are £115,274.

CONSTITUTION AND OBJECTS

The Ridgewood Village Hall Committee is constituted by Governing Document. Its prime object is to promote the benefits of the inhabitants of the village of Ridgewood and its environs without distinction of sex or of political, religion and other opinions by building and maintaining a pavilion on the Ridgewood recreation ground for recreation and leisure time occupation with the object of improving the conditions of life for the said inhabitants.

APPOINTMENT OR ELECTION OF TRUSTEES

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the constitution.

2

THE RIDGEWOOD VILLAGE HALL COMMITTEE

TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2023

RISK MANAGEMENT

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operation and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees are required under the Charities Act 2011 to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy the financial position of the charity and to enable them to ensure that the financial statements comply with applicable law and regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

of any relevent information and to establish that the examiner is aware of that information.

APPROVAL

This report was approved by the trustees and signed on their behalf by:

Karen Bedwell

Date: 26 October 2023

3

Independent Examiner’s Report to the Trustees of The Ridgewood Village Hall Committee

I report to the trustees on my examination of the financial statements of The Ridgewood Village Hall Committee (‘the charity’) for the year ended 30 June 2023 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

●the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.

I have no concerns 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 understanding of the financial statements to be reached.

James Duggan (FCCA)

Simmons Gainsford LLP

52 New Town Uckfield East Sussex TN22 5DE

Date: 31 October 2023

4

Ridgewood Village Hall Statement of Financial Activities For the year ended 30 June 2023

Notes
Letting Income
Interest Income
Grants and Donations
Fund Raising
2
Community Events
3
Total Incoming Resources
Fund Raising
4
Community Events
5
Management & Administration
6
Total Expenditure
Net Movement in Funds for the Year
Balance Brought Forward
Balance Carried Forward
Resources Expended
Incoming Resources		 2023
Unrestricted
Funds
£
31,111
319
3,187
4,512
4,785
43,914
1,837
3,685
30,829
36,351
7,563
107,712
115,275		 2022
Unrestricted
Funds
£
30,800
17
7,953
2,929
2,409
44,108
1,653
1,668
26,444
29,765
14,343
93,369
107,712

There were no recognised gains or losses for 2023 (2022 – £nil) other than those included in the Statement of Financial Activities.

The notes on pages 7 to 9 form part of these accounts

5

Ridgewood Village Hall Balance Sheet As at 30 June 2023

Notes
Leasehold Improvements
8
Equipment
8
Office Equipment
8
Total Fixed Assets
Cash at bank and in hand
Debtors
9
Total Current Assets
Creditors
10
Total Creditors: amounts falling due within one year
Net Current Assets
Total Assets less Current Liabilities
Net Assets
Unrestricted Funds Brought Forward
Surplus in Year
Total Capital and Reserves
Fixed Assets
Current Assets
Creditors: amounts falling due within one year
Capital and Reserves		 30 June 2023
74,719
2,423
314
77,456
38,407
1,138
39,546
1,727
1,727
37,819
115,275
115,275
107,712
7,563
115,275		 30 June 2022
£
78,709
2,015
370
81,094
40,142
1,304
41,446
14,828
14,828
26,618
107,712
107,712
93,369
14,343
107,712

Approved by the trustees and signed on their behalf by:

Karen Bedwell

Date: 26 October 2023

The notes on pages 7 and 9 form part of these accounts

6

Ridgewood Village Hall

Notes to the Accounts For the year ended 30 June 2023

1. Accounting Policies

1.1 Basis of Preparation of Accounts

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements 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 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

The Ridgewood Village Hall constitutes a public benefit entity as defined by FRS 102.

1.2 Income

Voluntary income and donations are accounted for as received by the charity.

Donated professional services are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

1.3 Management and Administration Expenditure

Expenditure on management and administration of the charity includes all expenditure not directly related to the charitable activity. This includes administration costs and the independent examiners fees.

1.4 Tangible Fixed Assets and depreciation

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold 15 years straight line Equipment 25% reducing balance Office Equipment 15% reducing balance

1.5 Government Grants

Grants are credited to the Statement of financial activities as the related expenditure is incurred.

1.6 Fundraising

Ridgewood Village Hall relies on the support of its individual donors. Without it, Ridgewood Village Hall would not be able to continue to pursue their objective. Consequently, fundraising policies and procedures are robust and transparent, and are applied scrupulously.

Ridgewood Village Hall promises their supporters to make the best use of their donation, be transparent in how donations are spent, inform donors about the difference their support makes, respecting privacy and make it easy for donors to choose how they communicate with them.

Ridgewood Village Hall keeps abreast of, and adapt to, all and any changes in the regulatory framework and adhere to current regulations, including the General Data Protection Regulation 2018 and the Code of Fundraising Practice issued by the Fundraising Regulator.

7

1.7 Financial Instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

2. Fundraising Income
Easter Egg Hunt & Spring Fair
Christmas Fair
Teddy Bear Picnic
Quiz Night
Bunny Hunt
Outreach Lunch Club
Total Income
3. Community Events Income
Baby & Toddler Group
Outreach Lunch Club
Total Income		 2023
1,597
1,378
15
997
103
421
4,512
2023
1,497
3,288
4,785		 2022
1,468
1,303
158
2,929
2022
607
1,802
2,409

8

4. Fundraising Expenditure

Bunting & Decs
Drinks & Food
Raffle
Licences
Printing, Stationery & Newsletters
Entertainers at Events
Total Expenditure
5. Community Events Expenditure
Outreach Lunch Club
Baby & Toddler
Nibble & Natter
Teddy Bear Picnic
Bunny Hunt
Warm Hub
Christmas Fair
Easter Hunt
Live Band Night
Total Expenditure		 2023
(40)
96
429
553
394
405
1,837
2023
2,325
11
252
163
67
173
75
595
23
3,685		 2022
126
729
354
-
444
1,653
2022
1,668
1,668

6. Administration Expenditure

Cleaning
Caretaking Costs
Insurance
Rent & Rates
Light, Power, Heating & Water
Repairs & Maintenance
Independent examination fees
Subscriptions
Telephone & Internet
Bank Fees
Depreciation Expense
Advertising
Hall Furniture & Equipment
Sundries		 2023
4,679
1,919
1,326
362
5,115
6,533
1,195
392
261
116
7,244
-
1,533
154
30,829		 2022
6,377
4,209
1,131
288
4,614
765
1,170
349
52
96
6,764
186
443
26,444

7. Staff Costs

No remuneration was paid to the trustees in the year, expenses reimbursed to trustees totalled to £653. Outstanding at There were no paid staff of the charity.

8. Fixed Assets

Cost
Brought forward
Additions
Carried forward
Depreciation
Brought forward
Charge for year
Carried forward
Net Book Value 30/6/23
Net Book Value 30/6/22		 Leasehold
90,399
2,182
92,580
11,690
6,172
17,861
74,719
78,709		 Equipment
2,823
1,425
4,248
808
1,017
1,825
2,423
2,015		 Office
Equipment
2,752
-
2,752
2,382
55
2,438
314
370		 Total
95,974
3,607
99,581
14,880
7,244
22,124
77,456
81,094

9

9. Debtors
2023
Accounts Receivable
64
Prepayments
1,074
1,138
10. Current Liabilities
2023
Income in Advance
1,609
Loan from Council
Accounts Payable
(1,689)
Accruals
1,288
Refundable Deposits on Key Fobs
520
1,727
11. Analysis of Net Assets Between Funds
2023
Unrestricted Fund
Total
Fixed Assets
77,456
77,456
Net Current Assets
37,819
37,819
115,275
115,275
2022
Unrestricted Fund
Total
Fixed Assets
81,094
81,094
Net Current Assets
26,618
26,618
107,712
107,712
12. Statement of Funds
Balance at 1 JulyIncome
Unrestricted Funds
107,712
43,914
107,712
43,914		 2022
-
1,304
1,304
2022
2,257
11,000
988
123
460
14,828
Expenditure
(36,351)
(36,351)		 Balance at 30 June 2023
115,275
115,275

10