Charity registration number 1201978 MATHERN & DISTRICT VILLAGE HALL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
MATHERN & DISTRICT VILLAGE HALL CONTENTS Pagg Trustees. report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 7-14
MATHERN & DISTRICT VILLAGE HALL TRUSTEES. REPORT FOR THE PERIOD ENDED 31 MARCH 2024 The trustee present their annual report and financial stslemenls for the Period ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with thè charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities." Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. ObJectlv&s and actlvltles The objects of the charity are the provision of recreation room, reading room and village hall for the benefit of the inhabitants of the Parish of Mathem, Mounlon and Pwllmeyric. The Trustees have complied with their duty regarding the guidance on Public Benefit published by the Charty Commission in exercising their powers and duties. The charity has continued lo provide and maintain the dub, in furtherance of the Public Benefit given by the charty's charitable activities. The Iruslee have paid due regard lo guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and perfom)ance During the year the hall was successfvl in transferring its governing slrudure from a registered charity to a CIO Icharitable incorporated organisationl. A lot of this work was undertaken in 2022-2023, and the final transfer of assets look place In the spring of 2023. The process was lime consuming and costly, however, the organisalions assets and ils trusteès are now fully protected under the new CIO slruclure. Becoming a CIO will also make future fundraising easier to apply for. The hall has had another S$$fUl year, increasing our income from hall hire, which is our prinapal activity. Income from hall hire rose around 80h compared to the previous financial year. We welcomed 25 regular user groups in 2023-2024,117 regular groups in 2022-20231 including some new regular users. We secured a £7,000 donation towards our kitchen refurbishment project. This will be used lo replace our existing kitchen during 2024-2025. We were successful in receiving £500 from the Tesco bags for help scheme in August 2023. This will support our senior citizens annual dinner. Our main events were the summer fete in September and the Bonfire Night in October. They were well attended and profits were good. The purchase of a van in 2022 has been an invaluable asset to the hall, particulady when planning and setting up events. It has been Incredibly well ulilised and we hope lo replace il with a more modem larger van in 2024-2025. The trustees, report was approved by the Board ofTruslees.
MATHERN & DISTRICT VILLAGE HALL TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Flnanclal revlew On 1 April 2023, the charity Mathern and District Club, charity number 524359 transferred its activities, assets and liabilities to the CIO Charity Malhern & District Village Hall, charity number 1201978. The funds received from Mathem & District Club lotalled £111,871. The Charity received income in the period lolalling £151,023. Excluding the transfer from unincorporated charity noted above, the income tolalled £39,352. Expenditure in the period lolalled £37,478. The charity's unreslricled reserves al the period ended were £113,545. The free reserves al the period ended were £101,545. The trustees believe that the charity has adeqLJate reserves to finan its activities for the immediate future. There are no finds materially in deficit. Risk Assessrnent The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure lo the major risks. 11 Is the policy of the charity that unrestricted funds which have not been designated for a specifie use should be maintained al a level equivalent lo betwèen three and six month's expenditure. The trustee consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able lo continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the Period. StruUre. govemance and management The charities governing document is a Constitution of a Charitable Incorporated Organisalion ICIOI. The organisation shall be managed by a board of Iruslees who shall be elected annually al the Annual General Meeting IAGMI, and the Iruslees are appointed by approval al said AGM.
MATHERN & DISTRICT VILLAGE HALL TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Reference and admlnlstratlve detslls Mathern and District Village hall is a registered charitable incorporated organisalion, charity number 1201978 whose address is.. Mathem Village Hall Mathem Chepslow NP166JH Trustees: Matthew Sidwell - appointed 16102123 Matthew Pike- appointed 16102123 Victoria Sidwell-Brown- appointed 16102123 Catherine Lewis- appointed 16102123 Glenda Lewin - appointed 16102123 Elisabeth Leng - appointed 16102123 Caroline Graham appointed 16102123 Shaun 8arnsley- appointed 16102123 Amy Thatcher- appointed 16102123 Allison Powell- appointed 16102123 Committee Officials- Chairperson.. VI Chairperson Secretsry.. Booking Secretary.. Treasurer.. Mr Matt Sidwell Mr Matthew Pike Mrs Catherine Lewis Mr Matt Sidwell Mrs Victoria Sidwell-Brown The trustees. report was approved by the Board of Trustee. Trusts8 25/09/2024
MATHERN & DISTRICT VILLAGE HALL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE OF MATHERN & DISTRICT VILLAGE HALL I report to the trustee on my examination of the financial statements of Malhern & District Village Hall Ilhe charilyl for the Period ended 31 March 2024. Responsibilities and basis of report As the trustee of the charity you are responsible for the preparation of the finanaal stslements in accordance with the requirements of the Charities Act 2011 Ilhe 2011 Act}. I report in respect of my examination of the charity's financial stslements carried out under secbon 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerfs statement Your attention is drawn to the fact that the charity has prepared financial slalements in aCcOrdae wth Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities". Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations bul has now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act", or the financial slalements do not a¢cord with those re¢ords,' or the financial slalements do not comply wth the applicable requirements ConmIng the form and content of accounts set out In the Charities (Accounts and Reports1 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 concems and have come across no other mallers In connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the finanal slalements lo be reached. Joanne Taylor FCCA DChA Azels Audit Services Ty Derw Lime Tree Court Cardiff Gale Business Park Cardiff CF23 8AB Dated. 26 September 2024
MATHERN & DISTRICT VILLAGE HALL STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 MARCH 2024 Unrestrlcted funds 2024 Notes Donations and legacies Charitable activities Other trading activities Investments 121,141 19,140 10,736 Totsl Income 151,023 Raising funds 7,690 Charitable activities 29,788 Totsl expendlture 37,478 Net income for the Periodl Net movement in funds 113,545 Fund balances al 16 February 2023 Fund balances at 31 March 2024 113,545 The ststemenl of financial activities indudes all gains and losses recognised in the Period. All income and expenditure derive from continuing aclivilies.
MATHERN & DISTRICT VILLAGE HALL BALANCE SHEET AS AT 31 MARCH 2024 2024 Notss Flxgd assets Tangible assets 13 73,421 Current assets Debtors Cash at bank and in hand 14 896 41,428 42,324 12.2001 Cr9dltors: amounts falllng dug wlthln ong y9ar 15 Net current assets 40,124 Total assets less current liabilities 113,545 Income funds Unrestricted funds Designated funds General unrestricted funds 17 12,000 101,545 113,545 113,545 The financial statements were approved by the Trustee on 25109/2024 Trustee
MATHERN & DISTRICT VILLAGE HALL NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 Accountlng pollcles Charity infomiation Malhern & District Village Hall is a charitable incorporated organisation. 1.1 Reportlng perlod The charity was registered with the Charity Commission on 16 February 2023. The charity was dormant until 1 April 2023. The accounting period is for twelve months from 1 April 2023 10 31 March 2024. 1.2 Accounting convention The financial $18temenls have been prepared in accordance wlh the charity's govèrning document, the Charities Ad 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo Charities preparing their a¢UnIS in acrdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffe¢tive 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statanent of Cash Flows. The finanaal statements have departed from the Charities IAccounls and Reportsl Regulations 2008 only ID the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice foi charities applying FRS 102 rather than the version of the Ststemenl of Recommended Practice which is referred lo in the Regulations bul which has since been withdrawn. The financial statements are prepared In slerfing, which is the functional currency of the charity. Monetary amounts in these financial stslemenls are rounded to the nearest £. The finanual slalements have been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. 1.3 Going concern Al the lime of approving the financial slatemenls, the trustee have a reasonable expectslion that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustee continue to adopt the going concern basis of accounting in preparing the financial stslemenls. 1.4 Charitable funds Unrestricted funds are available for use al the discretion of the trustee in furtherance of their charitable objectives. Restricted fijnds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the finanaal statements. Endowment funds are subject to specific conditions by donors that the capitsl musl be maintained by the charity. 1.5 Incomo Income is recognised when the charity is legally entitled to il after any performance conditions have been met, the amounts can be measured reliably, and il is probable that Income will be received. Cash donations are recognised on reipl. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donatlons received under GiftAid or deeds of covenant is recognised at the time of the donation.
MATHERN & DISTRICT VILLAGE HALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 A¢¢ounllng poll¢lg$ Icontlnugdl Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.6 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the Dbligalion can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dir1 cost5 and shared costs, Including support costs involved In undertaking each activity. Direct costs attributable lo a single activity are allocated directly lo that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single a¢livily are apportioned between those activitEs on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.7 Tangible fixed assets Tangible fixed assets are initl8lly measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Depreaation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Hall Grounds Fixtures and fittings Motor vehicles 25Q/o reducing balance 10°/0 reducing balance 200/0 reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.8 Impairment of fixed assets Al each reporting end dale. the Charity reviews the Carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient loss lif any). 1.9 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Flnancial instruments The charty has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financi81 instruments are recognised in the charity's balance sheet when the charity becomes party lo the contractual provisions of the inslrumenl. Financial assets and liabilities are offset. with the net amounts presented in the financial statements. when there is a legally enforable right to sel off the recognised amounts and there is an intention lo sellle on a net basis or to realise the asset and setue the liability simultaneously.
MATHERN & DISTRICT VILLAGE HALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 A¢¢ounllng poll¢lg$ Icontlnugdl Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction pricè Including transaction Costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement conslilules a financing Iransaclion, where the transaction is measu at the present value of the future receipts discounted al a market rale of interest. Financial assets Classified as receivable within one year are not amortised. Baslc flnanclal Ilabllltles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable thin one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequenuy measured al amortised cost using the effedive interest method. Dere¢ognilion of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday enlidement is recognised in the period in which the employee's services are received. Temiination benefits are recognised immediately as an expense when the charity is demonstrably committed lo lerminale the employment of an employee or to provide termination benefits. Critical accounting Ostimates and judgements In the application of the charity's accounting policies. the Iruslee are required lo make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting eslimales are recognised in the period in which the estimate is revised where the revision affects (lY that period, or in the period of the vIsion and future periods Whe the vIsion affects both current and future periods. Donatlons and legacles Unrestricted funds 2024 Donations and grfts 121,141
MATHERN & DISTRICT VILLAGE HALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Donatlons and 1gga¢le$ Icontlnugdl Donations and gifts Donation of funds received from Mathern & District Club Donations and gifts 111,871 9,270 121,141 Charltable actlvltles 2024 Charf(able rental income 19,140 Other tradlng actlvllles Unrestrlcted funds 2024 Fundraising events 10,736 Investments Unrestricted funds 2024 Interest received Raising funds Unr9$trict&d funds 2024 Other fundraising costs 7,690 7,690 10-
MATHERN & DISTRICT VILLAGE HALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Ral$lng fund$ Icontlnugdl Charitable activities 2024 Depreciation and impaimienl Rates, Vvater & Sewage Insurance Light & Heat Cleaning Repairs & Maintenance General Expenses Licenses Computer Costs Advertising 4.297 468 1,318 4,414 2,944 4,611 2,405 1,013 559 268 22,297 Share of governance costs (see note 91 7,491 29,788 Support costs Support Governance costs costs 2024 Independent Examination fees Professional fees 1,800 5,691 1,800 5,691 7,491 7,491 Analysed beeen Charitable activities 7.491 7,491 Governance costs includes payments lo the independent examiners of £1,800. 10 Trustee None of the trustee lor any persons connected with them) received any remuneration or benefits from the charity during the Period.
MATHERN & DISTRICT VILLAGE HALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 11 Employees The average monthly number of employees during the Period was". 2024 Number Total There were no employees whose annual Temuneralion was Tnore than £60,000. 12 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxalionof Chargeable GainsAcl 1992 to the extent that these are applied to its charitable objects. 13 Tanglblg flx9d assgts H811 Grounds Flxtures and Motor vehlcles rittings Total Cost Additions 44,569 4,200 25,429 3,520 7T,718 Al 31 March 2024 44,569 4,200 25,429 3,520 77,718 Depreciation and impaiment Depreaation charged in the Period 1,050 2,543 704 4,297 At 31 March 2024 1,050 2,543 704 4,297 Carrylng amount Al 31 March 2024 44,569 3,150 22,886 2,816 73,421 14 Debtors 2024 Amounts falling due within one year: Other debtors Prepayments 514 382 896 12-
MATHERN & DISTRICT VILLAGE HALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 15 Credltors: amounts falllng due wlthln one year 2024 Notes Deferred income Accruals 16 400 1,800 2,200 16 Deferred Income 2024 Other deferred income 400 Deferred income is included in the financial statements as follows.. Hire fees received in advance. 2024 Deferred income 1$ included rithIn.. Current Iiabilrties 400 Movements in the Period. Deferred income al 16 February 2023 Resour$ deferred in the Period 400 Deferred income al 31 March 2024 400 17 Designated funds The income funds of the charity include the following designated fijnds which have been set aside out of unrestricted funds by the Iruslees for specific purposes.. Movement in funds Incoming resourc85 Movement in funds Balance at 16 February 2023 Incoming resource5 Transfers Balanc8 at 31 March 2024 Kitchen fund 5.000 7,000 12,000 5.000 7,000 12,000 Kitchen fund The income relates to the transfer to the CIO and a donation reived. The ftjnd is towards a new Kitchen. 13-
MATHERN & DISTRICT VILLAGE HALL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 17 Dg$lgnat9d fund$ Icontlnugdl 18 Related party transactions There were no disclosable related party transactions during the year. 14-