2024-03-31-accounts - Scholes Village Hall CIO

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Scholes Village Hall CIO

Charity number 1200687

Annual Report and Financial Statements

for the period 14 October 2022 to 31 March 2024

Scholes Village Hall CIO

Annual Report and Financial Statements for the period 14 October 2022 to 31 March 2024

Contents		Page
Trustees' report	2 to	3
Statement of financial activities	4
Balance sheet	5
Notes to the accounts	6 to	9

Prepared by West Yorkshire Community Accountancy Service CIO

Scholes Village Hall CIO

Trustees' report for the for period 14 October 2022 to 31 March 2024

Reference and administrative details of the charity, its trustees and advisors

The trustees during the period and up to and including the date the report was approved were: Name Position Dates

Phil Brown Helen Shaw Karina Beattie Kathryn Clements

Treasurer

appointed 14 October 2022 appointed 14 October 2022 appointed 14 October 2022 appointed 14 October 2022

Charity number

1200687

Registered in England and Wales

Registered and principal address

Bankers

Main Street Virgin Money Scholes 10 Austhorpe Road Leeds Crossgates LS15 4DL Leeds. LS15 8DL

Accountants West Yorkshire Community Accountancy Service CIO

Stringer House 34 Lupton Street Leeds LS10 2QW

Structure, governance and management

The charity is a Charitable Incorporated Organisation (CIO) foundation formed on 14 October 2022 and is governed by a constitution.

Method of recruitment and appointment of trustees

The trustees of the charity are appointed by the members at the AGM.

Scholes Village Hall CIO

Trustees' report (continued) for the Trustees' report for the period 14 October 2022 to 31 March 2024

Objectives and activities

The charity's objects

To establish and run a village hall and to promote for the benefit of the inhabitants of the parish of Barwick in Elmet and Scholes ("area of benefit") without distinction of sex, sexual orientation, age, disability, nationality, race or political, religious or other opinions of the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the benefit at large in the interests of social welfare and with the object of improving the conditions of life of the said inhabitants.

The charity's main activities

The facility can be used for meetings, lectures, classes, any form of recreation and leisure activities (subject to the approval of the trustees).

Public benefit statement

In setting our objectives and planning our activities our trustees have given serious consideration to the Charity Commission’s general guidance on public benefit.

Achievements and performance

The CIO was formed on 14 October 2022, and took over the operations of the existing unincorporated charity as of 1 April 2023 and all assets were transferred.

The charity has consistently thrived in its mission to offer a vital facility within the village, enriching the lives of both local residents and the broader community. Not only does it provide a dedicated space, but it also generously offers free rentals to local community groups, empowering them to host fundraising events and further bolster communal support.

Financial review

The net expenditure for the year was £3,030, including net expenditure of £585 on unrestricted funds and net expenditure of £2,445 on restricted funds after transfers.

Reserves policy

The charity's free reserves, excluding fixed assets, at the year end were £93,485.

The trsutees have adopted the following reserves policy:

Alongside the six-month running costs, the trustees have allocated funds for a contingency plan. Specifically, they have earmarked additional reserves for potential major repairs of the 93-year-old prefabricated asbestos building. In addition, a sum of £50,000 is set aside to cover the safe removal of any asbestos components if necessary.

Any surplus reserves beyond the amount described above is for addressing the energy pricing crisis, which have notably impacted utility costs, and the cost of living crisis, which has notably impacted hires.

Approved by the board of trustees on 29/6/2024

Helen Shaw (Trustee)

Scholes Village Hall CIO

Statement of Financial Activities

(including summary income and expenditure account) for the period 14 October 2022 to 31 March 2024

Notes 2024 Unrestricted funds £ Income from: Grants and donations (2) 420 Fundraising activities 10 Room hire 14,532 Other income 117 Bank interest 897 Total income 15,976 Expenditure on: Wages and salaries (3) 1,200 License fees 538 Rates and water charges 454 Light, heat and power 2,891 Cleaning and waste management 100 Premises repairs, renewals and maintenance 5,503 Insurance premiums 1,681 Fundraising - Printing, postage and stationery 27 Sundry expenses and consumables 890 Equipment, repairs and maintenance 357 Accountancy 462 Depreciation - Website 55 Legal and professional fees 2,403 Total expenditure 16,561 Net income / (expenditure) (585) Fund balances brought forward 94,070 Fund balances carried forward (4) 93,485	2024 Restricted funds £ - - - - - - - - - - - 2,445 - - - - - - - - - 2,445 (2,445) 114,534 112,089	2024 Total funds £ 420 10 14,532 117 897 15,976 1,200 538 454 2,891 100 7,948 1,681 - 27 890 357 462 - 55 2,403 19,006 (3,030) 208,604 205,574	2023 Total funds £ 1,295 1,069 14,430 - 191 16,985 2,456 19 741 1,651 54 8,174 1,561 300 9 120 42 353 370 179 - 16,029 956 207,648 208,604

All incoming resources and resources expended derive from continuing activities.

Scholes Village Hall CIO

Balance sheet

as at 31 March 2024 2024 Unrestricted £ Fixed assets Tangible assets (5) - Total fixed assets - Current assets Debtors and prepayments (6) 531 Cash at bank 93,584 Total current assets 94,115 Current liabilities: amounts falling due within one year Creditors and accruals (7) 630 Total current liabilities 630 Net current assets / (liabilities) 93,485 Net assets 93,485 Funds Unrestricted funds 93,485 Restricted funds - Total funds 93,485	2024 Restricted £ 112,089 112,089 - - - - - - 112,089 - 112,089 112,089	2024 Total £ 112,089 112,089 531 93,584 94,115 630 630 93,485 205,574 93,485 112,089 205,574	2023 Total £ 112,089 112,089 480 96,835 97,315 800 800 96,515 208,604 94,070 114,534 208,604

The financial statements were approved by the board of trustees on 29/6/2024

Helen Shaw (Trustee)

Scholes Village Hall CIO

Notes to the accounts

for the period 14 October 2022 to 31 March 2024

1 Accounting policies

Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) 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) (effective 1 January 2019) and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.

Going concern

The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, if 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 charity has unconditional entitlement to the resources.

Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.

Expenditure and liabilities

Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.

Taxation

As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.

Tangible fixed assets

Tangible fixed assets are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows: Freehold land and building: nil

Project and office equipment: over 4 years

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

Scholes Village Hall CIO

Notes to the accounts continued

for the period 14 October 2022 to 31 March 2024

2 Grants and donations Barwick in Elmet (BiE) Community Fund Other donations 3 Staff costs and numbers Gross salaries	2024 Unrestricted funds £ - 420 420	2024 Restricted funds £ - - -	2024 Total funds £ - 420 420 2024 £ 1,200 1,200	2023 Total funds £ 1,295 - 1,295 2023 £ 2,456 2,456

There was 1 employee for part of the year, (2023: 1, 0.1 FTE). There were no employees with emoluments above £60,000.

4 Restricted funds BiE Community Fund (2020) Scholes Village Hall BiE Community Fund (2023)	Balance b/f £ 1,150 112,089 1,295 114,534	Incoming £ - - - -	Outgoing £ 1,150 - 1,295 2,445	Transfers £ - - - -	Balance c/f £ - 112,089 - 112,089

Fund name

Purpose of restriction

BiE Community Fund (2020) Initially for purchasing portable steps, and then agreed to be used for ventilation. The funder has now agreed that this can be spent on electrcial and security work at the hall.

Scholes Village Hall The fixed asset which is the building of Scholes Village Hall. BiE Community Fund (2023) For the replacement of lighting.

Tangible assets Cost At 14 October 2022 Additions At 31 March 2024 Depreciation At 14 October 2022 Charge for year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023	£ 21,906 - 21,906 21,906 - 21,906 - - Plant and equipment	£ 112,089 - 112,089 - - - 112,089 112,089 Land and Buildings	Total £ 133,995 - 133,995 21,906 - 21,906 112,089 112,089

5 Tangible assets

Scholes Village Hall CIO

Notes to the accounts continued

for the period 14 October 2022 to 31 March 2024

6 Debtors and prepayments Debtors Prepayments 7 Creditors and accruals Accruals Deferred income - hall hire fees received in advance Other creditors	2024 £ 17 514 531 2024 £ 462 68 100 630	2023 £ - 480 480 2023 £ 353 297 150 800

8 Related party transactions

Trustee expenses

No trustee received any expenses during this period or the previous year.

Trustee remuneration and benefits

No trustee received any remuneration or benefit during this period or the previous year.

Scholes Village Hall CIO

Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the period 14 October 2022 to 31 March 2024

2024 2023 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 420 - Fundraising activities 10 1,069 Room hire 14,532 14,430 Other income 117 - Bank interest 897 191 Total income 15,976 15,690 Expenditure Wages and salaries 1,200 2,456 License fees 538 19 Rates and water charges 454 741 Light, heat and power 2,891 1,651 Cleaning and waste management 100 54 Premises repairs, renewals and main 5,503 8,174 Insurance premiums 1,681 1,561 Fundraising - 300 Printing, postage and stationery 27 9 Sundry expenses and consumables 890 120 Equipment, repairs and maintenance 357 42 Accountancy 462 353 Depreciation - 370 Website 55 179 Legal and professional fees 2,403 - Total expenditure 16,561 16,029 Net income / (expenditure) (585) (339) Fund balances brought forward 94,070 94,409 Fund balances carried forward 93,485 94,070	2024 Restricted funds £ - - - - - - - - - - - 2,445 - - - - - - - - - 2,445 (2,445) 114,534 112,089	2023 Restricted funds £ 1,295 - - - - 1,295 - - - - - - - - - - - - - - - - 1,295 113,239 114,534	2024 Total funds £ 420 10 14,532 117 897 15,976 1,200 538 454 2,891 100 7,948 1,681 - 27 890 357 462 - 55 2,403 19,006 (3,030) 208,604 205,574	2023 Total funds £ 1,295 1,069 14,430 - 191 16,985 2,456 19 741 1,651 54 8,174 1,561 300 9 120 42 353 370 179 - 16,029 956 207,648 208,604