## Bishops Frome Village Centre ## Trustees Annual Report 01.04.2023 to 31.03.2024 **Registered Charity Number** 1200318 ## **Charities Principal Address** Bishops Frome Village Centre, The Green, Bishops Frome WR6 5AR ## **Names of Trustees who manage the charity** Jeanie Falconer – Chair David Veal - Treasurer Anthony Davis – Secretary Other trustees, Isabel Aitken, Malcolm Penny, Eve Eaton, Wendy Roberts Melissa Russell, Anthony Morel ## **Structure, governance and management** Governing document -CIO foundation registered 9[th] September 2022 Constitution – Registered with The Charity Commission Trustee selection methods – By vote of residents of Bishops Frome and surrounding areas (Area of benefit) ## **Objectives and activities** The purpose of The Village Hall is for use by local inhabitants for recreation and leisure time occupation with the objective of improving the conditions of life for people within “the area of benefit” This is achieved by the provision of facilities and opportunities for local community to meet and exchange views and help each other. Organise events for all members of the local community to attend and benefit from. Provide facilities for local organisations to hold conferences and exhibitions of relevance to the community. Provide facilities for user groups to hold classes in various subjects of interest. ## **Financial Review** Extract from Treasurer’s report Financial results. In last year’s report I pointed out that whilst we had good reserves, we were conscious of the fact that the hall had been in existence for 25 years and invariably some of the systems and fabric were becoming dated. This has come into effect this year and we have had to do repairs to windows/doors and major works and replacement of the air conditioning units. We are also planning improvements to the kitchen area. All the works considered essential to maintain our position as a well-positioned, well-equipped centre for events. Income has dropped from £29,938 to £20,978, however we should remember that 2023 was boosted by grants totalling £9,818. These have not been repeated. I have also made slight adjustments to the manner in which our income is calculated. I have removed monies received from Good Energy of £838 from the Income side and have instead shown them as a Contra item thus reducing our income but also our Electricity expenditure. Interest on our Deposit account has risen thanks to higher interest rates. If we exclude these amendments our income is up almost 5%. Expenditure is almost identical to 2023 (a year in which we spent £16k on the garden) as we have major expenses on repairs and renewal of the air conditioning and heater units, ie £9325 (contained in £13,690.21). We have also incurred additional legal cost of £4,076 to finalise our change in status. Summing up I believe we remain in a good position with funds in excess of £40k and are well placed to look forward to the next 25 years. ## Risk management The Management Committee has reviewed potential risks and is satisfied that adequate insurance is in place and to ensure that our exposure to risk is minimised Responsibilities of Managing Trustees for the financial statement The managing trustees have appointed an external examiner to audit the accounts and to reconcile the income and expenditure with bank statements. There is an annual review by the management committee to consider the accuracy and provision of financial information and the manner in which data is collected and managed. ## Reserves policy The Management Committee’s policy is to retain reserves to fund necessary continuing maintenance to the premises and to provide access to funding to cover running expenses. There is a provision of £26,000 for this purpose ## Declaration The trustees declare that they have approved the trustees’ report above. ## Signature Full name Position Date ## Bishops Frome Village Hall- Income and expenditure for year ending 31st March 2024 |Post Office Outreach
Good Energy
Hall Hire - regular users
Hall Hire - one off
Hall Hire - monthly
Fund Raising
Knit and Natter
Internet Café
Shop Rent
Interest
Donations and Grants
Total Income|2023-24
2022-23
2,145.00
2,745.00
Electricity (net)
1,123.87
Water
4,088.00
6,070.00
Cleaning
3,970.09
4,843.93
Replacements and Repairs
5,783.00
Insurance
1,191.48
1,812.61
Sundries
739.00
426.35
Red Kite Pest Control
556.00
725.00
Equipment (Garden)
1,260.00
1,960.00
Broadband Wi Fi
1,245.43
413.56
Community Hub
9,818.00
Waste Collection
Window Cleaning
Census Expenses
Advertising
Legal Expenses
20,978.00
29,938.32
Total Expenses
Surplus/Loss
Funds at start of year
Surplus/Loss
Add Census Donation
Funds at year end.
Barclays Bank
Funds on Deposit
Income|2023-24
2022-23
2,746.37
2,561.89
391.00
317.50
2,729.09
1,150.56
13,690.21
3,064.67
841.54
827.92
422.60
350.00
16,650.00
563.57
299.88
361.92
1,022.67
435.00
400.00
200.00
200.00
4,076.40
339.36
26,807.70
26,834.45
-5,829.70
3,103.87
46,556.42
43,452.55
-5,829.70
3,103.87
40,726.72
46,556.42
13,862.92
20,938.05
26,863.80
25,618.37
Expenditure|2023-24
2022-23
2,746.37
2,561.89
391.00
317.50
2,729.09
1,150.56
13,690.21
3,064.67
841.54
827.92
422.60
350.00
16,650.00
563.57
299.88
361.92
1,022.67
435.00
400.00
200.00
200.00
4,076.40
339.36
26,807.70
26,834.45
-5,829.70
3,103.87
46,556.42
43,452.55
-5,829.70
3,103.87
40,726.72
46,556.42
13,862.92
20,938.05
26,863.80
25,618.37
Expenditure| |---|---|---|---| ||||26,834.45| ||||3,103.87
43,452.55
3,103.87| ||||46,556.42
20,938.05
25,618.37| Total Funds at 31.03.2023 40,726.72 46,556.42