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2025-03-31-accounts

Draft Financial Statements

Charity registration number 1201978

MATHERN & DISTRICT VILLAGE HALL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 15

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to 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).

Objectives and activities

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 Mathern, Mounton and Pwllmeyric.

The Trustees have complied with their duty regarding the guidance on Public Benefit published by the Charity Commission in exercising their powers and duties. The charity has continued to provide and maintain the club, in furtherance of the Public Benefit given by the charity's charitable activities.

Achievements and performance

The hall has had another successful year, increasing our income from hall hire, which is our principal activity. Income from hall hire rose around 10% in 2024-2025 compared to the previous financial year (2023-2024). We already saw an 8% rise in 2023-2024 from the previous year, 2022-2023. We expect hall hire income to grow steadily each year, in line with these figures.

We welcomed 22 regular user groups in 2024-2025.

We secured a £14,000 Welsh government facilities grant towards our kitchen refurbishment project. This will be used alongside previously received donations to replace our existing kitchen during 2024-2025.

We also received a £600 donation from Welsh churches towards replacement kitchen appliances. The kitchen refurbishment took place over the summer and was completed in November 2024.

We received a legacy donation of £1,000 in July 2024, following the death of a village resident. This donation was specifically left for the benefit of the senior citizens annual lunch.

Our main events were the summer fete in late August 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, particularly when planning and setting up events. As it is so well utilised, we upgraded to a more modern larger van in September 2024.

In May 2024 we invested in some equipment to enhance our annual summer fete. Namely a slushy drinks machine and a performance stage. Both were used for the fete in August 2024 and provided additional income and an enhanced experience for visitors.

In January 2025 we invested in a photobooth for use at parties and events. This will save us paying out each year for a photobooth at our annual snow ball, something we have hired for the previous 2 years. We have also generated income from this investment as we can rent it out for other parties and events. We have already had several bookings for the booth.

The trustees’ report was approved by the Board of Trustees.

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Financial review

The charity received income in the period totalling £54,505 (2024: £151,023, excluding the transfer from unincorporated charity, the income totalled £39,352). Expenditure in the period totalled £77,604 (2024: £37,478). The charity's unrestricted reserves at the period ended were £90,446 (2024: £113,545). The free reserves at the period ended were £10,545 (2024: £28,124).

The trustees believe that the charity has adequate reserves to finance its activities for the immediate future.

There are no finds materially in deficit.

Risk assessment

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to 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 year.

Structure, governance and management

The charity’s governing document is a Constitution of a Charitable Incorporated Organisation (CIO).

The organisation shall be managed by a board of trustees who shall be elected annually at the Annual General Meeting (AGM), and the trustees are appointed by approval at said AGM.

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Reference and administrative details

Mathern and District Village hall is a registered charitable incorporated organisation, charity number 1201978 whose address is:

Mathern Village Hall Mathern Chepstow NP16 6JH

Trustees:

Matthew Sidwell Matthew Pike Victoria Sidwell-Brown Catherine Lewis Glenda Lewin Elisabeth Leng Caroline Graham Shaun Barnsley Amy Thatcher Allison Powell Donald Morgan - appointed 12 May 2025 Lesley Morgan - appointed 12 May 2025 Lisa Morgan - appointed 26 April 2025

Committee Officials:

Chairperson: Mr Matt Sidwell Vice Chairperson Mr Matthew Pike Secretary: Mrs Catherine Lewis Booking Secretary: Mr Matt Sidwell Treasurer: Mrs Victoria Sidwell-Brown

The trustees' report was approved by the Board of Trustees.

..............................

Trustee

Date: .............................................

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF MATHERN & DISTRICT VILLAGE HALL

I report to the trustees on my examination of the financial statements of Mathern & District Village Hall (the charity) for the year ended 31 March 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I 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:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Craig Yearsley FCCA

Azets Audit Services Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB

Dated: .........................

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
159
2,100
Charitable activities
4
22,357
14,000
Other trading activities
5
15,889
-
Investments
6
-
-
Total income
38,405
16,100
Expenditure on:
Raising funds
7
9,715
-
Charitable activities
8
51,115
15,500
Other
12
1,274
-
Total expenditure
62,104
15,500
Net (outgoing)/incoming resources before transfers
(23,699)
600
Gross transfers between funds
600
(600)
Net (expenditure)/income for the year/
Net movement in funds
(23,099)
-
Fund balances at 1 April 2024
113,545
-
Fund balances at 31 March 2025
90,446
-		 Total Unrestricted
funds
2025
2024
£
£
2,259
121,141
36,357
19,140
15,889
10,736
-
6
54,505
151,023
9,715
7,690
66,615
29,788
1,274
-
77,604
37,478
(23,099)
113,545
-
-
(23,099)
113,545
113,545
-
90,446
113,545		 Total Unrestricted
funds
2025
2024
£
£
2,259
121,141
36,357
19,140
15,889
10,736
-
6
54,505
151,023
9,715
7,690
66,615
29,788
1,274
-
77,604
37,478
(23,099)
113,545
-
-
(23,099)
113,545
113,545
-
90,446
113,545
151,023
7,690
29,788
-
37,478
113,545
-
113,545
-
113,545

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

BALANCE SHEET

AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds
Designated funds
19
General unrestricted funds		 2025
£
2,361
10,452
12,813
(2,268)
-
90,446		 £
79,901
10,545
90,446
90,446
90,446		 2024
£
896
41,428
42,324
(2,200)
12,000
101,545		 £
73,421
40,124
113,545
113,545
113,545

The financial statements were approved by the Trustees on .........................

..............................

Trustee

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Mathern & District Village Hall is a charitable incorporated organisation.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to 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). 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 Statement of Cash Flows.

The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds 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 financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. 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 donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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.

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities 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.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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 0% Grounds 25% straight line Fixtures and fittings 10% straight line Motor vehicles 20% straight line

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.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include 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.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

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 rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate 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 subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to 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 to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Restricted **Total ** Unrestricted
funds funds funds
2025 2025 2025 2024
£ £ £ £
Donations and gifts 159 2,100 2,259 121,141

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

3
Donations and legacies
Donations and gifts
Donation of funds received from Mathern & District
Club
Donations and gifts
4
Charitable activities
Performance related grants
Charitable rental income
Analysis by fund
Unrestricted funds
Restricted funds
5
Other trading activities
Fundraising events
6
Investments
Interest received		 -
159
159		 (Continued)
-
-
111,871
2,100
2,259
9,270
2,100
2,259
121,141
2025
2024
£
£
14,000
-
22,357
19,140
36,357
19,140
22,357
19,140
14,000
-
36,357
19,140
Unrestricted Unrestricted
funds
funds
2025
2024
£
£
15,889
10,736
Total Unrestricted
funds
2025
2024
£
£
-
6		 (Continued)
-
111,871
2,259
9,270
2,259
121,141		 (Continued)
-
111,871
2,259
9,270
2,259
121,141
121,141
2024
£
-
19,140
19,140
19,140
-
19,140

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7 Raising funds

**Unrestricted ** Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Other fundraising costs 9,715 7,690
9,715 7,690

8 Charitable activities

Depreciation and impairment
Rates, Water & Sewage
Insurance
Light & Heat
Cleaning
Repairs & Maintenance
General Expenses
Licenses
Computer Costs
Advertising
Share of governance costs (see note 9)
Analysis by fund
Unrestricted funds
Restricted funds		 2025
£
6,295
478
1,442
4,616
3,278
35,065
9,102
141
614
56
61,087
5,528
66,615
51,115
15,500
66,615		 2024
£
4,297
468
1,318
4,414
2,944
4,611
2,405
1,013
559
268
22,297
7,491
29,788
29,788
-
29,788

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

9 Support costs

Support
costs
Governance
costs
£
£
Independent Examination fees
-
2,100
Professional fees
-
3,428
-
5,528
Analysed between
Charitable activities
-
5,528		 2025
£
2,100
3,428
5,528
5,528		 2024
£
1,800
5,691
7,491
7,491

Governance costs includes payments to the independent examiners of £2,100 (2024 - £1,800).

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2024 - £nil).

During the year, 1 trustee received £3,000 for bookkeeping services (2024 - no trustees received income during the prior year). The charity also reimbursed 1 trustee £446 in relation to bookkeeping costs during the year (2024 - £nil).

11 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2025 2024
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.

12 Other

Unrestricted
funds
2025
£
Net loss on disposal of tangible fixed assets
1,274
1,274		 Total
2024
£
-
-

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

13 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 Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

14 Tangible fixed assets

Hall
Grounds
Fixtures and
fittings
Motor
£
£
£
Cost
At 1 April 2024
44,569
4,200
25,429
Additions
-
-
4,164
Disposals
-
-
-
At 31 March 2025
44,569
4,200
29,593
Depreciation and impairment
At 1 April 2024
-
1,050
2,543
Depreciation charged in the year
-
1,050
2,959
Eliminated in respect of disposals
-
-
-
At 31 March 2025
-
2,100
5,502
Carrying amount
At 31 March 2025
44,569
2,100
24,091
At 31 March 2024
44,569
3,150
22,886
15
Debtors
Amounts falling due within one year:
Other debtors
Prepayments
16
Creditors: amounts falling due within one year
Notes
Deferred income
17
Accruals		 vehicles
£
3,520
11,426
(3,520)
11,426
704
2,285
(704)
2,285
9,141
2,816
2025
£
1,741
620
2,361
2025
£
168
2,100
2,268		 Total
£
77,718
15,590
(3,520)
89,788
4,297
6,294
(704)
9,887
79,901
73,421
2024
£
514
382
896
2024
£
400
1,800
2,200

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

17 Deferred income

Other deferred income 2025
£
168		 2024
£
400
Deferred income is included in the financial statements as follows:
Hire fees received in advance.
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2024
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2025		 2025
£
168
400
(400)
168
168		 2024
£
400
-
-
400
400

18 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement Movement in funds Movement in funds
in funds
Incoming Balance at Incoming Resources Transfers Balance at
resources 1 April 2024 resources expended 31 March 2025
£ £ £ £ £ £
Welsh Government - - 14,000 (14,000) - -
Mathern Community
Council - - 600 - (600) -
Senior Citizens Function - - 1,500 (1,500) - -
- - 16,100 (15,500) (600) -

Welsh Government - Grant for a kitchen refurbishment project.

Mathern Community Council - Donation received for kitchen appliances.

Senior Citizens Function - Donation received for senior citizens function. Involves a 2 course lunch, drinks and entertainment for the senior residents of the village. This is an annual event.

Draft Financial Statements MATHERN & DISTRICT VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

19 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in funds
Incoming Transfers Balance at Resources Balance at
resources 1 April 2024 expended 31 March 2025
£ £ £ £ £
Kitchen fund 5,000 7,000 12,000 (12,000) -
5,000 7,000 12,000 (12,000) -

Kitchen fund

The income relates to the transfer to the CIO and a donation received. The fund was towards a new Kitchen.

20 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).