## 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**
1
## 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.
2
## 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)
3
## 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.
4
## 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)
5
## 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.
6
## 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**
7
## 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.
8
## 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|
|---|---|---|---|---|
9