2025-03-31-accounts - Belmont Village Hall

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Belmont Village Hall

Charity No. 1206706

Trustee's Report and Unaudited Accounts

31 December 2024

Belmont Village Hall Contents

	Pages
Trustee's Annual Report	1
Statement of Financial Activities	2
Balance Sheet	3
Statement of Cash flows	4
Notes to the Accounts	5
Detailed Statement of Financial Activities	6

Page 1

Belmont Village Hall Trustees Annual Report

The trustee presents their report with the unaudited financial statements of the charity for the year ended 31 December 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1206706

Trustee

The following trustee served during the year:

T. Rowe

Accountants

Barnard & Aston 57 Southend Road

Grays Essex RM17 5NL

The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustee is also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed

T. Rowe Trustee 31 December 2024

Page 2

Belmont Village Hall Statement of Financial Activities

for the year ended 31 December 2024

Unrestricted funds	Restricted funds	Total funds	Total funds
2024	2024	2024	2023
£	£	£	£

(1)	-	(1)	(1)
20,962	-	20,962	30,652
20,961	-	20,961	30,651

5,023	-	5,023	6,707
33,474	-	33,474	26,428
38,497	-	38,497	33,135
-	-	-	-
(17,536)	-	(17,536)	(2,484)
-	-	-	-
(17,536)	-	(17,536)	(2,484)

(17,536)	-	(17,536)	(2,484)

25,843	15,000	40,843	43,327
8,307	15,000	23,307	40,843

Page 3

Belmont Village Hall Balance Sheet

at 31 December 2024

Charity No. 1206706 Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors:Amount falling due within one year 11 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 12 Restricted income funds Unrestricted funds 12 General funds Reserves 12 Total funds	2024 £ 8,399 8,399 1,300 75,702 77,002 (62,094) 14,908 23,307 23,307 23,307 15,000 15,000 8,307 8,307 23,307	2023 £ 12,598
		12,598 2,770 87,545
		90,315 (62,070)
		28,245 40,843
		40,843
		40,843
		15,000
		15,000 25,843
		25,843
		40,843

Approved by the trustees on 31 December 2024

And signed on their behalf by:

T. Rowe Trustee 31 December 2024

Page 4

Belmont Village Hall Notes to the Accounts

for the year ended 31 December 2024

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with 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 if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 5

Belmont Village Hall Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 6

Belmont Village Hall Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 7

Belmont Village Hall

Notes to the Accounts

2 Statement of Financial Activities - prior year

2 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Charitable activities Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies 4 Income from charitable activities	Unrestricted funds 2023 £ (1) 30,652 30,651 6,707 26,428 33,135 (2,484) (2,484) (2,484) 28,327 25,843 Unrestricted £ (1) (1) Unrestricted £ 20,962 20,962	Restricted funds 2023 £ - - - - - - - - - 15,000 15,000 Total 2024 £ (1) (1) Total 2024 £ 20,962 20,962	Total funds 2023 £ (1) 30,652
			30,651 6,707 26,428
			33,135
			(2,484)
			(2,484)
			(2,484) 43,327
			40,843
			Total 2023 £ (1)
			(1)
			Total 2023 £ 30,652
			30,652

Page 8

Belmont Village Hall Notes to the Accounts

5 Expenditure on charitable activities

Expenditure on charitable activities Governance costs 6 Other expenditure Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 7 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 8 Staff costs No employee received emoluments in excess of £60,000. 9 Tangible fixed assets Cost or revaluation At 1 January 2024 At 31 December 2024 Depreciation and impairment At 1 January 2024 Depreciation charge for the year At 31 December 2024 Net book values At 31 December 2024 At 31 December 2023	Unrestricted £ 173 4,850 5,023 Unrestricted £ 57 28,412 4,199 212 594 33,474 2024 £ 4,199	Total 2024 £ 173 4,850 5,023 Total 2024 £ 57 28,412 4,199 212 594 33,474 £ 16,797 16,797 4,199 4,199 8,398 8,399 12,598	Total 2023 £ 1,248 5,459
			6,707
			Total 2023 £ 1,210 20,425 4,199 24 570
			26,428
			2023 £ 4,199 £ 16,797
			16,797
			4,199 4,199
			8,398
			8,399
			12,598

Page 9

Belmont Village Hall Notes to the Accounts

10 Debtors

	2024 £ 1,300 1,300 2024 £ 61,500		2023 £ 2,770
			2,770
			2023 £ 61,500
	594		570
At 1 January 2024 15,000 15,000 25,843 40,843	62,094 Incoming resources (including other gains/losses ) £ - - 20,961 20,961 Unrestricted funds £ 8,399 9,208 17,607 At 1 January 2024 £	Resources expended £ - - (38,497) (38,497) Restricted funds £ - 5,700 5,700 Cash flows £	62,070
			At 31 December 2024 £ 15,000
			15,000
			8,307
			23,307
			Total £ 8,399 14,908
			23,307
			At 31 December 2024 £
	87,545	(11,843)	75,702
	87,545 87,545	(11,843) (11,843)	75,702
			75,702

Page 10

Belmont Village Hall Statement of Cash flows for the year ended 31 December 2024

Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Decrease/(Increase) in trade and other receivables Increase in trade and other payables Net cash (used in)/provided by operating activities Net cash used in investing activities Net cash from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2024 £ (17,536) 4,199 1,470 24 (11,843) - - (11,843) 87,545 75,702	2023 £ (2,484) 4,199 (2,770) 2,070
		1,015
		(16,797)

		-

		(15,782)
		103,327
		87,545

Components of cash and cash equivalents
Cash and bank balances	75,702	87,545

	75,702	87,545

Page 11

Belmont Village Hall Detailed Statement of Financial Activities

for the year ended 31 December 2024

Income and endowments from: Donations and legacies Charitable activities Total income and endowments Expenditure on: Charitable activities Total of expenditure on charitable activities Other expenditure Premises costs Rent Light, heat and power Premises cleaning Premises insurances Premises repairs and maintenance Other premises costs General administrative costs, including depreciation and amortisation Depreciation of Sundry expenses Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments	Unrestricte d funds 2024 £ (1) (1) 20,962 20,962 20,961 173 4,850 5,023 5,023 57 57 - 10,314 4,800 2,281 9,145 1,872 28,412 4,199 212 4,411 594 594 33,474 38,497 -	2024 £ - - - - - - - - - - - - - - - - - - - - - - - - - -	Total funds 2024 £ (1) (1) 20,962 20,962 20,961 173 4,850 5,023 5,023 57 57 - 10,314 4,800 2,281 9,145 1,872 28,412 4,199 212 4,411 594 594 33,474 38,497 -	Total funds 2023 £ (1)
				(1)
				30,652
				30,652
				30,651 1,248 5,459
				6,707
				6,707 1,210
				1,210
				1,500 9,862 2,533 164 3,437 2,929
				20,425
				4,199 24
				4,223
				570
				570

				26,428
				33,135 -

Page 12

Belmont Village Hall Detailed Statement of Financial Activities

Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	(17,536) (17,536) - (17,536) 25,843 8,307	- - - - 15,000 15,000	(17,536) (17,536) - (17,536) 40,843 23,307	(2,484)
				(2,484) -
				(2,484)
				43,327
				40,843

Page 13