TRUSTEES OF VICTORIA HA TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH UNE 2025 Charity No: 220946 OF VI￿0 Pages Adminisrrative Details Report of the Tnjstees Repon of the Independent Examiner Statement of Financial Activities Balance Sheet Accounting Policies Notes to the Financial Statements 9-10 ADMINsfRATIVE DEfAIiS D￿AlLs OF THE TRUSr The trust is an unincorporated association and a registered charity. governed by a trust deed dated August 1899. The principal objectives of the trust are the management. maintenance and improvement for the Victoria Hall. Oakham. Charlty No: 220946 Trustees- T Tyler J Burrows l Dove P Clifton D Graham S Drummond L Stephenson H Smith (Chairman) (Secretary) Ctreasurer} Principal Address= 39 High Street Oakham Rutland LE15 6AH Independent E￿Iner. Max Wealth Accountants Bankers: HSBC Bank. PLC Oakham FOR THE YEAR ENDED UNE 2025 The trustees present their reporr together with the financial statements for the year ended 30 June 2025. HisfoKY The charity was first registered in August 1899 to administer the Vittoria Hall. Oakham, the building having been originally buÈlt as an Agricultural Hall and held Ltnder an Indenture dated Ottober 1858. The charitable status of the Hall Trust has been approved by the Inland Revenue and no taxation is payable on the income of the Trust OBJEcrs The freehold title to the Hall ha5 been held on behalf of the Trustees by the Charity Commi55ioner5 since 1899 leaving the Trustees responsible for the maintenance and management of the Hall. The trustee5 in office at the end of the year were= T Tyler J Burrows l Dove P Clifton D Graham S Drummond L Stephenson H Smith (Chairman) (Secretary) reasurerl MANAGEMwf AND OPEIi4TIONS The trustees delegate day to day management to a hall manager employed by the Trust. There is also a trustee appointed as treasurer and a self-employed Operations Manager. The Trustees meet regularly throughoui the year to consider operational reports from these key individuals and others to carry out their responsibilities with regard io maintenance and management of the Hall. The Trust receives income from the letting out the Hall. Gallery and Downstairs Units and various grants and donations made from both public and private funds. These go towards the upkeep and improvement of the Hall. The Trustees in turn meet the costs of operating the Hall including ongoing maintenance and look to carry out improvements as funds pemiit. FOR THE YEAR ENDED 30Th UNE 2025 REVIEW OF OPERATK)NS During the year under review the total incoming resources amounted to £75.877 (2024 - £66.0041. The total resources expended during the year on Hall management, maintenance and improvements amounted to £76.848 (2024 - £86.049). At the end of the year the accumulated fund carried fotward vlas £17.335 12024 - £18.3061. The Trustees have an ongoing programme of improvement works but only enter inro commitment5 for such expenditure when they have the funds to do so. Fufids accumulated finance the day to day running of the Hall as well as the next improvement project. The Hall age and fabric are such that Ihe level of regular income is barely adequate to meei Hall maintenance costs in its current condition as well as complying with all modern ￿gulations. This leaves the cost of improvement work5 to be met largely from grants and donations. Ongoing, the Trustees have regular income from the ground floor area of the hall from renrals granted for use as office accommodation and workshops to 3 local businesses and from commissions earned from a community-based art gallery. During the year. the main Hall upstairs was under Control of a manager and was available for functions and for hire by community group5. In addition, the Trustees are actlvely pursuing grant aid to further assist wlth improvement of ihe fabric of the building and the facilrties It provldes. RESERVES POUCY It is not Ihe policy of the charity to hold reserves committed ro or designated for specific purposes. The litle to the freehold property is vested in the Charity Commissioners on behalf of the Trustees. thus it is considered appropriate to indude headings in the financial statements to reflett the freehold property as a permaneni endowment with a nominal value of £l.000. In order to reflect the position correctly it is acknowledged that it would be appropriate to have the property valued professionally. However. in view of the financial situation of the Charity. the Trustees do not consider it appropriate to incur the cost of a piofe55ional valuation. SECURrrY PROTEcfioN The Trusiees have sou9ht pollce advfice on approprfate security surveillance systems in order to discourage vandalism and minimise the risk of damage and ￿Su11ant repair costs. NUAL REPORT OF TH OF OR coKnNUE DED 30Th TRUSTEES. RESPONSIBILmE5 Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the financial actimties of the charity during the year and of their financial position at the end of the year. In preparing the financial statement the Trustees should follryw best prattice and= select suitable accounting w)licies and then apply them consistently.. make jLFdgements and estimates that are reasonable and prudent.. state whether applicable accounting standards and statements of recommended practice have been followed subject to any Materi￿ departures disclosed and explalned In the financlal statements- prepare the finarFcial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy rhe financial position of the charity and which enable them to ascertain the financial position of the charity and to ensure that the financial statements comply with the Charitie5 Act 2011 and relate(I re9ulations. They are also responsible for safeguarding the a55ets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities. INDEPEND￿ EWIYER Max Wealth Accountants is the charitvs independent examiner and has indicated their willingness to continue in office. ON BEHALF OF THE TR T Tyler Chair of Trustees Date.. Ztsz THE TRUStEES OF FOR THE YEAR EN 30TH 2025 I report on the accounts of The Wictoria Hall for the year ended 30 June 2025. which are set out on pages 6 to l O. RESPEcnvE RESPONSIBILMES OF TRUSTEES AND EXAMINER The Irusiees are responsible for the preparaiion of the accounts. The trustee5 consider that an audlt is not required for this year under section 144 of the Charities Act 2011 {the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charlty is not Subject to audit under company law and is eligible for independent examination. it is my responsibility to. examine the accounts under Section 145 of the 2011 Act: to follow the procedures laid down in the general Directions given by the Charity Commission under section 145{5Mbl of the 2011 Act.. and to state whether particular matters have come to my attention. BAS15 OF INDEPENDEKf EXAMINER'S REIIORT My examination was carried out accordance with the gener￿ directions given by the Charity Commisslon. An examination includes a review of the accounting records kept by the charity and a comparison of rhe accounts presented with Ihose ￿cords. It also includes consideration of any unusual items or disdosures in the accounts. and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounis present a 'true and fair view. and the report is limited to those matters set out in the statement below. INDEPENDENT EXAMINER'S $fATEM￿ In connection with my examination, no matter has come to my attention-. (I I which gives me reasonable cause to believe thar in any material respect the requirements.. to keep accounting records in accordance wÈth 5e(tion 130 of Ihe 2011 Act,. and to prepare accounts which accord with the accounting records and comply with accounting requlrements of the 2011 Act have not been met- or {21 to which. in my opinion, attention should be drawn in order ro enable a proper understandlng of the accounts to be reached. Max Wealth Accountants 40 Mellon Road {First floor) Oakham Rutland LEI 5 6AY Date.. 10th October 2025 Tru OFTH ATEMEKf OF FINANC FOR THE YEAR END Note 2025 2025 2024 2024 INCOME Lettings Grants received Commlssion Bank interest 61,525 14.301 32,953 32.845 51 75.877 206 66.004 EXPENDrruRE Wage5 General purchases Heat and light Rates and water Repairs and renewals Insurance Cleaning and waste management Licences Post, stationery & website Telephone Professional fees Accountancy fees Bank charges Bad Debt Depreciation 28,923 6.491 6,684 2.898 4.357 10.145 4.693 180 2.236 1.410 7.047 636 77 36.169 6,639 11.645 1.364 4.930 6.952 5,604 211 710 1.526 8,417 961 75 96 1.253 77.126 846 86.049 MOVEMENT IN FUNDS -1.248 -20.045 Total funds at l July 2024 Prevlous year adjustment 17.306 33.402 3,950 Total funds at 30June 2025 16,058 17.306 The accompanying accounting policies and notes I to 5 form an integral part of the financial statements. SH ED 30TH FOR THE UNE 2025 Note 2025 2025 2024 2024 FIXED ASSErs Tangible assets 9.369 8,550 CURRENT ASS Debtors Cash at bank- Current account Cash at bank- Deposit account Cash in hand 4.743 5.182 18.772 73 8,900 4,662 3,033 95 16.689 28.770 CURRENT LIABILtfiES Creditors 21.081 6.933 NEf CURRE￿ ASSErs 7.689 9.757 TOTAL ASSEfs LESS cuRREP￿ UABILtnES 17.058 18,306 CAprrAL FUNDS Endowment 1,000 1,000 Unrestricted funds 16.058 17,306 17.058 18,306 The accompanying accounting policies and notes I to 5 form an integral part of the financial statements. OF THE VI NG POUCIES 301H NE 2025 FOR THE WIS OF PREPARATION The financial statements have been prepared in accordance wiih applicable accountlng standards and follow the recommendations in the Statement of Recommended Practice= Accounting by Charities Ithe SORP) FRSI 02. They have been p￿pa￿d under the historicai cost convention. The principal accounting policies are set out below and have remained unchanged from the previous year. INCOMING RESOURCES Crants, monetary donations and investment income are credited as income when they are received. All other Income Is included in the financial statements when it is due. RESOURCES EXPENDED Expenditure is charged in the financial statement on an accruals basis and relates to the fulfilment of the charity's objectives. FUND ACCOUPrnNG Endowment funds represent those assets which are held permanently on trust by the charity for the benefit of the charity. Unrestricted funds are donations and other irKome resources received or generated for expenditure on the general objettives of the charity. TANGIBLE FIXED ASSEfs AND DEPRECIATION Apart from freehold property investment. tangible fixed assets are stated at cost or valuation. net of depreciation and any prow5ion for impairment. Freehold investment properry is included In the accounts at a nominal value of £1,000 to reflett Its existence. Depreciation is calculated to write down the cost of fixed assets held for use by the charity by the reducing balance method over thelr expected useful lives. The rare generally applicable is l 0% and 25 NOTES TO TH FOR THE YEAR END cou NE TrusrEES No trustee5 or person with a family or business connection with a trustee received any remuneration. TANGIBLE FIXED ASSETS Furniiure Plant Total Investment Pmperty Equlpment Machinery C05t or revaluatlon At l July 2024 Additions in the year At 30 June 2025 1,000 36.077 222 36.299 37,077 1,850 1,850 1.000 37.077 Depredatton At l July 2024 Charge for the year At 30 June 2025 28,527 791 27.681 1.253 29.780 463 29.318 463 Net book value At 30 June 2024 At 30 June 2025 7.550 6.981 8,550 9.369 1.000 1.388 The freehold investment property has been included in the accounts at a nominal value of £ 1,000 to reflect its existence. The trustees are of the opinion that the value is considerably in excess of this figure. but as the property represents permanent endowment and there is no prospecr of then the tnjstees do not consider that the expense of a professlonal ¥￿UatiOn can be justified. DEBTORS 2025 2024 Trade debtor5 - Lerrings Prepayments - Licences VAT 4.296 447 7.687.99 1.211.73 4.743 8.900 TRU OF co FOR THE YEAR ENDED 30TH NU 2025 2024 Trade creditors Accruals and deferred income VAT PAYEIPension 4.381 12.440 3.887 373 21,081 3,352 2,920 661 6.933 CAp￿AL FUND A permanent end￿+¥rnent fund of £1,000 has been established to reflecr the nominal value attributable to the freehold property.