The Prestwood Village Hall Charity number 226409
Trustees Accounts for the Year ended 30th September 2023
The Prestwood Village Hall
Report of the trustees for the year ending 30 September 2023
The charity was established by Trust Deed dated 15th October 1925 and is registered with the Charity Commissioners under number 226409. The charity's address is The Village Hall, Wycombe Road, Prestwood, Great Missenden, Buckinghamshire, HP16 0NZ.
The trustees are:-
Ms W Davis Chairman
Mr M Poole
Mr N Corteen
Mr C Nicol
Mrs V R Corteen
Mr M Cunnane
As Chairman of the Trustees, I have completed to my satisfaction a risk assessment of the Trustees, Consultant and Management Committee.
The charity is administered by a management committee whose officer members were during the year: -
Mr N Corteen Chairman
Mr R Scott Treasurer
Mr D Yorston Bookings secretary (until February 2023) and maintenance engineer.
Management committee members are elected or appointed on an annual basis at the annual public meeting held in November each year. The officers are elected from the membership of the management committee.
Objects, Organisation and Activities
The charity is established to provide a village hall to be used for any charitable purpose or purposes calculated to promote the moral intellectual or physical improvement or welfare or the reasonable recreation advantage or benefit of the inhabitants of the village of Prestwood.
The charity is organised by a board of trustees representing local residents with a management committee comprising elected and co-opted members. Activities include the provision of the village hall as a permanent community facility and providing a variety of enhancements as funds permit from time to time.
Trustees are co-opted by existing trustees and are provided with all the information they require to fulfil their role.
Page 1
The Prestwood Village Hall
Annual report for the year to 30th September 2023 (continued)
Review of progress and achievements
Like most other organisations, the Village Hall has seen a steady recovery from the after effects of the Covid pandemic. We are pleased that most of our regular groups are back, active again, albeit some on reduced levels and smaller numbers of members. During the early part of the year we remained vigilant, as infection levels peaked and we monitored NHS news sources. Our cleaning and inspection regime was maintained to ensure the health and safety of our team and and all users.
The economy continues to affect our finances, with the heating and power, inflation and general cost of living raising our costs. Any services or products we have bought or contracted during the year increased in price again. The Trustees and Committee however, made the decision, in recognition that our users (and their society/group members) are all in the same boat, from a financial perspective, to limit the price rises for renting the hall to a minimum. This is in constant review, but we hope that this enables our clubs and societies, regular users and new customers to use our facilities as our charitable objectives state.
The team were very proud to launch our first of a kind Summer Family fundraising event, only to be thwarted by very poor weather. It “washed its face”, without loss, and the team are keen to make this an annual event for the village. The Plan-it Prestwood “Prestmas” event in December is now firmly in the calendar, raising valuable funds for many local charities.
The long-term project to completely renovate the toilet facilities remains. The exorbitant price however, means we are actively seeking funding from various sources and it is unlikely we will make a start on this before next summer. The regular care and maintenance of the building and grounds is ongoing. Looking ahead, we are pleased that the hall is busy and plays a major part in the community, holding many varied classes and meetings. We are in a secure financial position, but are cautious, given the turbulent state of the economy. I once again thank the Management Committee for all their hard work, volunteering for the hall and it’s achievements.
Finances
The attached financial statements show the current state of our finances, which the Trustees and Management Committee consider to be sound. The Charity’s bankers are TSB Bank plc. The independent examiner of accounts is Nigel Hughes of Totteridge Associates Limited and our thanks go to him for acting for us.
Wendy Davis
On behalf of the trustees
Date: 9 September 2024
Page 2
The Prestwood Village Hall Statement of Financial Activities for the year to 30th September 2023
| Notes Income Donations and grants 2 Charges for hall hire Interest on deposit account Expenditure Provision of hall facilities Heat and light Rates Water Insurances Caretaker's wages Repairs & Maintenance Licences Depreciation Management & administration Independent examiner's fee 4 Total Expenditure Net incoming resources Transfers Revaluation of premises Fund balance brought forward Fund balances carried forward |
General Designated Funds Funds Total 2022 £ £ £ £ - - 2,667 27,898 27,898 26,370 449 449 194 27,898 449 28,347 29,231 5,264 5,264 5,551 227 227 332 230 230 183 2,121 2,121 1,278 5,280 5,280 5,760 5,550 5,550 7,665 126 126 89 1,282 1,282 1,282 20,080 - 20,080 22,140 7,407 7,407 4,558 350 350 350 7,757 - 7,757 4,908 27,837 - 27,837 27,048 61 449 510 2,183 5,000 (5,000) - - - - - 270,000 1,168,530 58,257 1,226,787 954,604 1,173,591 53,706 1,227,297 1,226,787 |
|---|---|
Page 3
The Prestwood Village Hall Balance sheet at 30 September 2023
| Notes Tangible Fixed Assets 6 Village Hall Equipment Deposit account for future repairs Debtors – due from hirers of the hall Prepayments Current account Creditors 7 Net current assets Net Assets General purposes fund Fixed asset fund Reserve designated for future repairs 9 |
2023 2022 £ £ 1,160,000 1,160,000 3,702 3,904 |
|---|---|
| 1,163,702 1,163,904 |
|
| 53,706 58,257 |
|
| 2,256 2,313 367 1,752 8,405 1,555 |
|
| 11,028 5,620 (1,139) (994) |
|
| 9,889 4,626 |
|
| 1,227,297 1,226,787 |
|
| 9,889 4,626 1,163,702 1,163,904 |
|
| 1,173,591 1,168,530 53,706 58,257 |
|
| 1,227,297 1,226,787 |
These accounts were approved by the trustees and signed on their behalf by:
Wendy Davis Trustee Date: 9 September 2024
Page 4
The Prestwood Village Hall
Notes to the accounts for the year to 30th September 2023
1) Accounting Policies
General
These accounts have been prepared under the historical cost convention, except for the revaluation of the premises and in accordance with applicable accounting standards and the statement of recommended practice on accounting by charities.
Incoming resources
Incoming resources are accounted for on a receivables basis. Hirers’ deposits and payments in advance are deferred until the accounting period when the relevant event takes place.
Depreciation
Depreciation is provided on the equipment at the following rates based on the estimated useful life of these fixed assets and their anticipated residual value:Equipment 10%, 33% or 50% Straight line Freehold land and buildings 0%
Valuation of premises
The village hall is valued at replacement cost, based on periodic valuations. The latest valuation was carried out by Messrs Jaggard Macland in November 2021. Revaluation surpluses are taken to the Fixed Asset Reserve.
Reserves
The trustees have set aside funds for future repairs, to be added to when funds permit. Movements on the reserve for future repairs are stated in note 9.
2) Donations and grants
| Grant from Bucks CC re Covid | 2023 2022 £ £ |
|---|---|
| - 2,667 |
3) Employees’ Remuneration
| 3) Employees’ Remuneration | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Caretaker’s fees | 5,280 | 5,760 |
| Maintenance Engineer/Booking Secretary’s fees (to February 2023) |
1,290 | 4,290 |
| Booking Secretary’s fees (From March 2023) | 1,050 | - |
Page 5
The Prestwood Village Hall
Notes to the accounts for the year to 30th September 2023 (continued)
4) Management and administration of the charity
| Independent examiner’s fee Booking secretary’s fee Committee and administrative expenses |
2023 2022 £ £ 350 350 1,800 1,950 5,607 2,608 |
|---|---|
| 7,757 4,908 |
5) Trustees’ and Management Committee expenses
The Committee Member who is the maintenance engineer and the bookings secretary for the charity received the remuneration as disclosed in note 3 above.
No remuneration was paid to any trustee, any other committee member or any 'connected person' in either the year under review or the previous year.
6) Tangible Fixed assets
| Cost/Valuation at 30 September 2022 Additions At 30 September 2023 Accumulated Depreciation at 30 September 2022 at 30 September 2023 Net book value at 30 September 2023 at 30 September 2022 |
Hall Equipment Total £ £ £ 1,160,000 15,924 1,175,924 1,080 1,080 |
|---|---|
| 1,160,000 17,004 1,177,004 |
|
| 12,020 12,020 1,282 1,282 |
|
| - 13,302 13,302 |
|
| 1,160,000 3,702 1,163,702 |
|
| 1,160,000 3,904 1,163,904 |
In the opinion of the Trustees the present value of the Village Hall and land is at least the value stated in the balance sheet and no amortisation is necessary.
The Trustees and Management Committee have had an assessment of the rebuilding costs by chartered surveyors who have indicated that the figure should be £1,160,000. The insurance value has been upgraded so that the value is now covered.
Page 6
The Prestwood Village Hall
Notes to the accounts for the year to 30th September 2023 (continued)
7) Creditors payable within one year
| he Prestwood Village Hall otes to the accounts for the year continued) 7) Creditors payable within one year |
to 30th September 2023 |
|---|---|
| Lettings received in advance Accruals |
2023 2022 £ £ 90 255 1,049 739 |
| 1,139 994 |
8) Summary of net assets by fund
| Fixed assets Deposit account Net current assets |
General Fixed Designated purposes assets Future repairs Total 1,163,702 1,163,702 53,706 53,706 9,889 9,889 9,889 1,163,702 53,706 1,227,297 |
|---|---|
9) Movement on reserve for future repairs
| Balance at 1 October 2022 Interest received in the year Transfer to general purposes fund Balance at 30 September 2023 |
2023 2022 £ £ 58,257 52,063 449 194 (5,000) 6,000 |
|---|---|
| 53,706 58,257 |
Page 7
Independent examiner's report to the trustees of The Prestwood Village Hall
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30 September 2023.
Responsibilities and basis of report
As the charity trustees of the trust, you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material 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 trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) 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 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 accounts to be reached.
Nigel Hughes FCA
Totteridge Associates Limited 9 Ash Grove, Weedon Lane, Amersham, Buckinghamshire, HP6 5QU
10 September 2024