2021-12-31-accounts - Village Hall

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LACEY GREEN & LOOSLEY ROW VILLAGE HALL FUND

Report and Financial Statements For the year ended 31 December 2021 Charity number: 259721

LACEY GREEN & LOOSLEY ROW VILLAGE HALL FUND Financial statements for the year ended 31 December 2021

*Contents*	*Pages*
Trustees Annual Report	1
Statement of Trustees Responsibilities	2
Independent Examiners Report to the Trustees	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Financial Statements	6 – 8
Appendix – Management Accounts
1 General Fund – Income and Expenditure Account	Appendix 1
2 Millennium Fund Account	Appendix 2
3 Balance Sheet	Appendix 3

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LACEY GREEN & LOOSLEY ROW VILLAGE HALL FUND TRUSTEES ANNUAL REPORT For the year ended 31 December 2021

The Trustees have pleasure in presenting their Report and the Financial Statements of the Charity for the year ended 31 December 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's trust deed, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Legal Status

Lacey Green and Loosley Row Village Hall Fund is a Registered Charity, Registration Number 259721 which was established by the Trust Deed in 1924.

Objectives Of The Charity

The Land upon which the Village Hall stands, and the building itself, are held upon Trust for the purpose of a Village Hall for the use of the inhabitants of Lacey Green and Loosley Row.

Organisation

The Charity is run by a Committee of Management which may have a maximum of 18 members of which 6 must be elected and 12 may be representative. Elected members are appointed at the Annual General Meeting and hold office until the next such meeting. Representative members are appointed by organisations with an interest in the Hall.

The General Income of the Charity may be applied as the Committee see fit for the general maintenance, improvement and insurance of the building.

The Income of the Charity of whatever nature, including that derived from the investment of unexpended funds received as part of 'The Millennium Fund' is restricted to the purpose of that Fund which was and is ‘The Construction, Fitting Out and Equipping of a New Village Hall’.

Review Of Activities And Achievements

The new Village Hall, opened in October 1999 has been in full use throughout every year since then. Compensatory grants received in 2020 and 2021 to pay for pandemic closure has increased our funds sufficient for us to resurface the car park. A contractor has been approved and work is expected to be completed before summer 2022. The target of 'The Millennium Fund' having been achieved in 2002 that Fund was closed in December of that year. Depreciation charges relating to Fixed Assets forming part of 'The Millennium Fund' will continue to be charged to that Fund. Depreciation charges relating to Fixed Assets acquired subsequent to December 2002 and all future items of Income & Expenditure will be dealt with through the General Fund.

The Trustees who served the Charity during the year were as follows:

C. Hodghton - Chair Y. Axe - Co-Treasurer F. Quilter-Wood M. Piercy L. Axe - Co-Treasurer V. Sheehan K. Hodghton J. Herve G. Mortimer-Biggs C. Davies - Secretary

Signed on behalf of the Trustees

C. Davies – Secretary

4 March 2022

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LACEY GREEN & LOOSLEY ROW VILLAGE HALL FUND STATEMENT OF TRUSTEES' RESPONSIBILITIES For the year ended 31 December 2021

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments and estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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LACEY GREEN & LOOSLEY ROW VILLAGE HALL FUND INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES

I report on the financial statements of Lacey Green & Loosley Row Village Hall Fund for the year ended 31 December 2021 which are set out on pages 4 to 8.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

examine the financial statements under section 145 of the 2011 Act;
follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act; and
state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the 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 financial statements present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

which gives me reasonable cause to believe that, in any material respect, the requirements:
to keep accounting records in accordance with Section 130 of the 2011 Act; and
to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act.

have not been met, or;

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Adrian Huntley AFA TaxAssist Accountants 193 Cambridge Street Aylesbury Buckinghamshire

1 March 2022

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LACEY GREEN & LOOSLEY ROW VILLAGE HALL FUND Statement of financial activities for the year ended 31 December 2021

Notes Incoming resources Donations Interest receivable Other income Total incoming resources Resources expended Direct charitable expenditure Fundraising and publicity Management and administration 2 Total resources expended 3 Net incoming/outgoing resources Before transfers Transfers between funds Net incoming/outgoing resources For the year Balances brought forward Balances carried forward	Funds Total Funds Unrestricted Restricted 2021 2020 £ £ £ £ 1,254 - 1,254 7,410 135 - 135 300 25,729 - 25,729 21,124
	27,119 - 27,119 28,834
	2,972 6,338 9,310 9,455 - - - - 8,669 - 8,669 7,459
	11,641 6,338 17,979 16,914
	15,477 (6,338) 9,139 11,919 Nil Nil Nil Nil
	15,477 (6,338) 9,139 11,919 127,435 177,466 304,901 292,982
	142,912 171,128 314,040 304,901

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LACEY GREEN & LOOSLEY ROW VILLAGE HALL FUND Balance sheet as at 31 December 2021

£ 1,051 101,897	2021 £ 213,218 100,822	£ 1,353 83,921	2020 £ 222,528 82,373
102,948 2,126		85,274 2,901

	£314,040		£304,901
	142,912 171,128		127,435 177,466
	£314,040		£304,901

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LACEY GREEN & LOOSLEY ROW VILLAGE HALL FUND Notes to the financial statements for the year ended 31 December 2021

1 Accounting policies

Basis of Accounting

The Financial Statements have been prepared under the historical cost convention, and in accordance with applicable standards and the Statement of Recommended Practice on accounting by Charities.

Grants and Donations

Income from Grants and Donations are accounted for by the Charity on receipt.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property 2% per annum straight line Equipment over 5 years straight line Fixtures and fittings over 5 years straight line

The cost or market value of the Freehold Land on which the Village Hall stands is not included in these Financial Statements. The Freehold Land was gifted to the Charity in 1924 and the Trustees do not believe that the expenses of a professional valuation would be justified.

2 Management and administration

Management costs 3Total resources expended Direct charitable expenditure Fund Raising and Publicity Management and Administration	Funds Total Total Unrestricted Restricted Funds_Funds_ 2021 2020 £ £ £ £ 8,669 - 8,669 7,459 Total Total Depreciation Other Funds_Funds_ Costs 2021 2020 £ £ £ £ 9,310 - 9,310 9,455 - - - - - 8,669 8,669 7,459 £9,310 £8,669 £17,979 £16,914

3 Total resources expended

[No salaries/wages have been paid to any employees or members of the committee, ][during the year.]

Other Costs: Premises Other	2021 2020 £ £ 6,016 4,626 2,654 2,834 £8,669 £7,459

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LACEY GREEN & LOOSLEY ROW VILLAGE HALL FUND Notes to the financial statements for the year ended 31 December 2021

4 Tangible fixed assets

Millennium Project "2000" Fund Freehold Property Equipment £ £ Cost to 1 January 2021 316,902 3,138 Cost at 31 December 2021 316,902 3,138 *Depreciation* Total to 1 January 2021 139,436 3,138 Charge for the Year 6,338 - at 31 December 2021 145,774 3,138 *Net book value* at 31 December 2021 £171,128 - 5 Tangible fixed assets General Fund Freehold Additions to tangible fixed assets Property Equipment £ £ *Cost to 1 January 2021* 55,994 11,358 Additionsin the Year - - 55,994 11,358 *Depreciation* Total to 1 January 2021 13,515 10,199 Charge for the Year 1,120 615 at 31 December 2021 14,635 10,814 *Net book value* at 31 December 2021 41,359 544 *Total net book value* at 31 December 2021 £212,487 £544 6 Debtors Debtors Prepayments 7 Creditors:amounts falling due within one year Trade creditors Other creditors Accruals	Freehold Property Equipment £ £ 316,902 3,138	Fixtures & Fittings Total £ £ 4,918 324,958 4,918 324,958 4,918 147,492 - 6,338 4,918 153,830 - £171,128 Fixtures & Fittings Total £ £ 14,164 81,516 - - 14,164 81,516 12,740 36,454 1,237 2,972 13,977 39,426 187 42,090 £187 £213.218 2021 2020 £ £ -350 1,051 1,003 £1,051 £1,353 2021 2020 £ £ - - 1,581 2,386 545 515 £2,126 £2,901
	316,902 3,138
	139,436 3,138 6,338 -
	145,774 3,138
	£171,128 -
	Freehold Property Equipment £ £ 55,994 11,358 - -
	55,994 11,358
	13,515 10,199 1,120 615
	14,635 10,814
	41,359 544
	£212,487 £544

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LACEY GREEN & LOOSLEY ROW VILLAGE HALL FUND Notes to the financial statements for the year ended 31 December 2021

8 Restricted funds

	Balance at	Net	Outgoing&		Balance at
	1 January	Outgoing	Transfers		31 December
	2021				2021
	£	£	£		£
Millennium Project "2000"fund	177,466	6,338		-	171,128

9 Analysis of net assets between restricted and unrestricted funds

Millennium Project "2000" fund Unrestricted funds	Tangible Fixed Assets Other Net Assets Total £ £ £ 171,128- 171,128 42,090 100,822 142,912
	£213,218 £100,822 £314,040

A p p e n d i x |1

LACEY GREEN & LOOSLEY ROW VILLAGE HALL FUND Income and expenditure account for the year ended 31 December 2021 - general fund

£ 1,254 -	2021 £ 5,916 16,907 2,906 1,254 135	£ 7,410 -	2020 £ 8,568 11,334 1,222 7,410 300
1,790 2,621 361 1,126 86 1,823 91 146 56 571		1,600 2,095 207 1,217 91 1,016 293 377 12 552
	27,119 11,641		28,834 10,576
8,669 1,120 615 1,237		7,459 1,120 615 1,382

	£15,477		£18,257

A p p e n d i x | 2

LACEY GREEN & LOOSLEY ROW VILLAGE HALL FUND Millenium fund account for the year ended 31 December 2021

Income Charges to the Fund Depreciation: Freehold property Fixtures&fittings Equipment Reduction in fund Balance brought forward at 1 January 2021 Balance at 31 December 2021	£ 6,338 - -	2021 £ NIL 6,338	£ 6,338 - -	2020 £ NIL 6,338

		6,338 177,466		6,338 _183,804 _
		£171,128		£177,466

A p p e n d i x | 3

LACEY GREEN & LOOSLEY ROW VILLAGE HALL FUND Balance sheet as at 31 December 2021

171,128 177,466 - - - - 171,128 177,466 41,359 42,479 544 1,159 187 1,424 42,090 45,062 2021 2020 £ £ £ £ 177,466 183,804 - - 6,338 6,338 Deficit (6,338) Deficit (6,338) 171,128 177,466 127,435 109,178 18,449 21,374 145,885 130,553 2,972 3,117 142,912 127,435 £314,040 £304,901	171,128 177,466 - - - - 171,128 177,466 41,359 42,479 544 1,159 187 1,424 42,090 45,062 2021 2020 £ £ £ £ 177,466 183,804 - - 6,338 6,338 Deficit (6,338) Deficit (6,338) 171,128 177,466 127,435 109,178 18,449 21,374 145,885 130,553 2,972 3,117 142,912 127,435 £314,040 £304,901	171,128 177,466 - - - - 171,128 177,466 41,359 42,479 544 1,159 187 1,424 42,090 45,062 2021 2020 £ £ £ £ 177,466 183,804 - - 6,338 6,338 Deficit (6,338) Deficit (6,338) 171,128 177,466 127,435 109,178 18,449 21,374 145,885 130,553 2,972 3,117 142,912 127,435 £314,040 £304,901	171,128 177,466 - - - - 171,128 177,466 41,359 42,479 544 1,159 187 1,424 42,090 45,062 2021 2020 £ £ £ £ 177,466 183,804 - - 6,338 6,338 Deficit (6,338) Deficit (6,338) 171,128 177,466 127,435 109,178 18,449 21,374 145,885 130,553 2,972 3,117 142,912 127,435 £314,040 £304,901
			127,435
			£304,901
			177,466 - -
			177,466
42,090		45,062
42,090	171,128	45,062	177,466

A p p e n d i x | 3 cont ...

LACEY GREEN & LOOSLEY ROW VILLAGE HALL FUND Balance sheet as at 31 December 2021

Millennium fund brought forward General fund brought forward Current assets Cash at bank Debtors Prepayments Deduct: current liabilities Creditors arising within one year Lunch club fund Total funds at 31 December 2021	£ 42,090 101,897 - 1,051 102,948 1,796 330 100,822	2021 £ 171,128 142,912	2020 £ £ 177,466 45,062 83,921 350 1,003 85,274 2,411 490 82,373 £304,901
		£314,040