## **RVH Accounts** Ridgewood Village Hall For the year ended 30 June 2024 ## **Contents** - **3** Charity Information - **4** Trustees' Report - **5** Income & Expenditure Account - **7** Balance Sheet - **8** Notes to the accounts Ridgewood Village Hall Page 2 of 10 RVH Accounts ## **Charity Information** ## **Ridgewood Village Hall For the year ended 30 June 2024** ## **1. Trustees:** |Karen Bedwell|Chair| |---|---| |Marion Love|Booking Officer| |Ian Charles Noble|Vice Chair| |Jane Atherton|Treasurer| |Ian Smith|Health & Safety Officer| |Christine Metcalfe|General Trustee| |Janine Williams|Disability Advisor| |Sally Davis|General Trustee| |Janet Davey|General Trustee| |Rosina Reed|Secretary| ## **2. Charity Registration Number: 1200029** ## **3. Charity Office** Ridgewood Village Hall New Road Uckfield East Sussex TN22 5TE ## **4. Independent Examiner** Ian Watson Ridgewood Village Hall Page 3 of 10 RVH Accounts ## **Trustees' Report** ## **Ridgewood Village Hall For the year ended 30 June 2024** The trustees present their report and accounts for the year ended 30 June 2023. ## **TRUSTEES** The trustees are: |Karen Bedwell|Penelope Rowden (Resigned October 2023)|Jane Atherton| |---|---|---| |Marion Love|Colin Whitewood (Resigned October 2023)|Christine Metcalfe| |Ian Smith|Louise Slaughter (Resigned October 2023)|Janine Williams| |Ian Charles Noble|Ian Watson (Resigned September 2024)|Rosina Reed (Appointed October 2023)| |Sally Davis|Janet Davey (Appointed October 2023)|| ## **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 £ 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 £ to cover the administrative costs of the charity for 12 months if the hall is closed. The current reserves held are £ ## **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. Ridgewood Village Hall Page 4 of 10 RVH Accounts ## **Income & Expenditure Account** ## **Ridgewood Village Hall For the year ended 30 June 2024** |**Income & Expenditure Account**
**Ridgewood Village Hall**
**For the year ended 30 June 2024**|**Income & Expenditure Account**
**Ridgewood Village Hall**
**For the year ended 30 June 2024**| |---|---| |**2024**
**2023**
**NOTES**|| |**Income**|| |Letting Income
33,561
31,111|| |Grants and Donations
7,273
3,187|| |Community Events Income
7,014
5,165|| |Fundraising income
3,448
4,132
2|| |Toy sales
91
-|| |**Total Income**
**51,387**
**43,595**
**Direct expenditure**|| |Community Events Costs
5,465
3,721|| |Fundraising Costs
2,544
889|| |Printing, stationery & Newsletters
348
394|| |Advertising
103
-|| |Licences & Training
186
553|| |**Total Direct expenditure**
**8,646**
**5,557**|| |**Income after direct expenditure**
**42,741**
**38,038**
**Expenditure**|| ||**Premises expenditure**| ||Rent & Rates
260
362| ||Cleaning
5,530
4,679| ||Caretaking Costs
1,490
1,919| ||Insurance
1,461
1,326| ||Light, Power, Heating
6,264
4,452| ||Water Rates
342
663| ||Hall furniture & Equipment
49
1,495| ||Repairs & Maintenance
6,466
6,533| ||Telephone & Internet
379
261| ||**Total Premises expenditure**
**22,241**
**21,690**
**Professional fees**| ||Independent Examination Fees
60
1,195| ||Audit and Accountancy
1,512
-| ||**Total Professional fees**
**1,572**
**1,195**
**Other overheads**| ||IT Software and Consumables
401
-| ||Subscriptions
718
392| ||Gifts
83
-| ||Sundries
10
157| ||**Total Other overheads**
**1,212**
**549**| ||Finance costs
86
116| Ridgewood Village Hall Page 5 of 10 RVH Accounts Income & Expenditure Account ||**2024**|**2023**|**NOTES**| |---|---|---|---| ||||| |Depreciation expense|7,954|7,244|| |**Total Expenditure**|**33,065**|**30,794**|| |**Other Operating Income**|||| |Interest Income|1,085|319|| |**Total Other Operating Income**|**1,085**|**319**|| |**Surplus / (Deficit)**|**9,676**|**7,244**|| Ridgewood Village Hall Page 6 of 10 RVH Accounts ## **Balance Sheet** ## **Ridgewood Village Hall As at 30 June 2024** |**Balance Sheet**
**Ridgewood Village Hall**
**As at 30 June 2024**|**Balance Sheet**
**Ridgewood Village Hall**
**As at 30 June 2024**| |---|---| |**30 JUN 2024**
**30 JUN 2023**|| |**Fixed Assets**|| ||**Tangible Assets**| ||Leasehold Improvements
78,714
74,719| ||Equipment
1,414
2,423| ||Office Equipment
267
314| ||**Total Tangible Assets**
**80,395**
**77,456**| |**Total Fixed Assets**
**80,395**
**77,456**
**Current Assets**|| ||**Cash at bank and in hand**| ||CAF Banks
44,922
38,004| ||Cash held by Marion
249
403| ||**Total Cash at bank and in hand**
**45,171**
**38,407**| ||Accounts Receivable
1,425
64| ||Prepayments
1,763
1,074| |**Total Current Assets**
**48,359**
**39,546**
**Creditors: amounts falling due withinone year**|| |Accounts Payable
37
(1,689)|| |Accruals
84
1,288|| |Income in Advance
2,059
1,609|| |Refundable deposits on key fobs
540
520|| |**Total Creditors: amounts falling due within one year**
**2,720**
**1,727**|| |**Net Current Assets (Liabilities)**
**45,639**
**37,818**|| |**Total Assets less Current Liabilities**
**126,035**
**115,274**|| |**Net Assets**
**126,035**
**115,274**
**Capital and Reserves**|| |Surplus / (Deficit) in Year
10,761
7,562|| |Unrestricted Funds Brought Forward
115,274
107,712|| |**Total Capital and Reserves**
**126,035**
**115,274**|| Ridgewood Village Hall Page 7 of 10 RVH Accounts ## **Notes to the accounts** ## **Ridgewood Village Hall For the year ended 30 June 2024** ## **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: |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 Page 8 of 10 RVH Accounts Notes to the accounts 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. ## **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** ||**2024**|**2023**| |---|---|---| ||**£**|**£**| |Easter Egg Hunt & Spring Fair|1,463.31|1,597.00| |Autumn / Christmas Fair|966.80|1,378.00| |Teddy Bear Picnic||15.00| |Quiz Night|635.00|997.00| |Bunny Hunt||103.00| |||| |Wealden Lottery|306.50|| |**Total Income**|**3,988.61**|**4,521.00**| ## **3. Community Events Income** Ridgewood Village Hall Page 9 of 10 RVH Accounts Notes to the accounts ||**2024**|**2023**| |---|---|---| ||**£**|**£**| |Baby & Toddler Group|1,059.60|1,497.00| |Housebound Club|524.00|| |Nibble & Natter|544.30|| |Outreach Lunch Club|4,345.16|3,288.00| |**Total Income**|**6,473.06**|**4,785.00**| Ridgewood Village Hall Page 10 of 10 RVH Accounts