Charity registration number: 267646
## Pinder Recreational Trust
Annual Report and Financial Statements for the Year Ended 31 March 2022
UHY Ross Brooke Chartered Accountants 31a Charnham Street Hungerford Berkshire Newbury Berkshire RG17 0EJ
## **Pinder Recreational Trust**
## **Contents**
|Trustees' Report|1 to 4|
|---|---|
|Statement of Trustees' Responsibilities|5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9 to 15|
## **Pinder Recreational Trust**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the Charity for the year ended 31 March 2022.
## **Trustee**
The charity's sole trustee is Burghclere Parish Council who are empowered to appoint sub-committees as it thinks fit for the administration of the charity.
## **Objectives and activities**
## _**Objects and aims**_
1) The provision and maintenance of the village hall, for the use of the inhabitants of Burghclere and Newtown without distinction of political, religious or other opinions, including use for meetings, lectures and classes and for other forms of recreational and leisure time occupation, with the object of improving the conditions of life. 2) To provide (or assist in providing) for the habitants of the Parish of Burghclere facilities for recreation, or other leisure time occupation in the interests of social welfare and with the object of improving their conditions of life.
3) The benefit of the inhabitants of the Parish of Burghclere by such charitable purposes as the trustee thinks fit.
## _**Objectives, strategies and activities**_
The charity derived its income from hall lettings, rent for the use of the recreation ground, rent for the allotments, income from investments and rent from the cottage and government grants. www.portalhall.com is being used frequently for recording a calendar of events and for bookings.
## _**Public benefit**_
The uses of the facilities in the trustee's opinion meet the objects of the charity and satisfy the requirement for the charity to have a public benefit.
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 1
## **Pinder Recreational Trust**
## **Trustees' Report**
## **Financial review**
Hall bookings increased during the year with the decrease in Covid-19 restrictions, we were able to resume bookings for events such as weddings and private parties, ending the year with a lettings income of £17,679 compared to £6,538 in the previous year. We were grateful for £13,828 in government grants received, providing a much needed boost to the Trust’s finances and enabling us to emerge from the pandemic in a healthier position than may have been expected. The Pre-School remains a regular weekday hirer and we are especially pleased this vital community facility has remained open during these challenging times.
## We welcomed new tenants into the Portal Cottage in April 2021 and rental income has remained consistent.
Investments continue to provide a large portion of the Trust’s income, with £4,060 investment income being received during the year, compared to £3,800 in the previous year.
Maintenance costs account for a significant percentage of overall expenditure, either in the form of responsive repairs or planned activities such as resurfacing the hall floor. Utility costs have remained relatively stable despite the continuing rise in fuel costs.
Future maintenance plans include a kitchen upgrade and we hope to source the grant income required to commence the replacement of the Portal Hall windows.
The Trust is pleased to report a surplus of £43,789, compared to £48,792 for the year ending 31st March 2021 and is satisfied the finances are in a positive position for the coming year.
## Reserves & Funds
The charity maintains some funds by way of reserves to cover emergency repairs and unforeseen expenses, and the minimum target cash balance in the general fund has typically been in excess of £12,000. The level of reserves is currently in excess of the £12,000 target.
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. The management committee manage the charity on behalf of the sole trustee and deal with all day to day matters.
Page 2
## **Pinder Recreational Trust**
## **Trustees' Report**
## **Revaluation of trust property**
The Portal Memorial Hall and cottage were revalued some time ago to £950,000 following a further review of reinstatement value. Although the reinstatement value has now increased above £950,000, the Trustee does not consider that the accounts value should be increased as the open market value would not exceed £950,000. The Trustee continues to be satisfied that £950,000 is an approximation to market value and does not feel an external open market valuation was justified and as a result no depreciation of the asset is required.These assets are held in Trust by the Parish Council of the Parish of Burghclere on behalf of the Pinder Recreational Trust.
The charity also owns the Burghclere Recreation Ground which was gifted to the charity and has no cost and has not been valued.
In addition the charity also manages a village car park, a children's playground, a millennium garden, allotments, and a memorial garden on behalf of the Burghclere Parish Council as trustee.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The management committee regularly review risks on behalf of the trustee and are satisfied that appropriate controls exist. In particular there is an on-going programme of maintenance.
## **Other**
The trustee also gives its' grateful thanks to all the management committee and helpers for their continuing support.
Page 3
## **Pinder Recreational Trust**
## **Trustees' Report**
## **Reference and Administrative Details**
**Trustees** Burghclere Parish Council **Senior Management Team** Mr A Crowley, Chairman Mr G Morton Mr R Carrow, Vice Chairman Mrs S Whiting Miss A Wason Mr I Collins Mrs J Letsome, Clerk Mr J Parkes **Principal Office** Portal Hall Church Lane Burghclere Newbury Berkshire RG20 9HX **Charity Registration Number** 267646 **Independent Examiner** UHY Ross Brooke Chartered Accountants 31a Charnham Street Hungerford Berkshire Newbury Berkshire RG17 0EJ
The annual report was approved by the trustees of the Charity on .................... and signed on its behalf by:
......................................... Mr A Crowley
Page 4
## **Pinder Recreational Trust**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these 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 judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material 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 proper accounting records that 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 applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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.
Approved by the trustees of the Charity on .................... and signed on its behalf by:
......................................... Mr A Crowley
Page 5
## **Pinder Recreational Trust**
## **Independent Examiner's Report to the trustees of Pinder Recreational Trust**
I report on the accounts of the charity for the year ended 31 March 2022 which are set out on pages 7 to 15 .
## **Respective responsibilities of trustees and examiner**
The Charity's trustees are responsible for the preparation of the accounts. 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 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(5)(b) of the 2011 Act; and
- to 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures 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 accounts 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:
- (1) which gives me a reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act 2011; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
......................................
Kerry Hawkins FCCA, UHY Ross Brooke Chartered Accountants
31a Charnham Street Hungerford Berkshire Newbury Berkshire RG17 0EJ
Date:.............................
Page 6
## **Pinder Recreational Trust**
## **Statement of Financial Activities for the Year Ended 31 March 2022**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Investment income
3
Other income
4
Total Income
**Expenditure on:**
Other expenditure
5
Gains/losses on investment assets
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
10
**Note**
**Income and Endowments from:**
Donations and legacies
2
Investment income
3
Other income
4
Total Income
**Expenditure on:**
Other expenditure
5
Gains/losses on investment assets
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
10|**Unrestricted**
**funds**
**£**
13,828
4,060
32,679
50,567
(16,783)
10,005
43,789
1,124,476
1,168,265
**Unrestricted**
**funds**
**£**
19,677
3,800
21,178
44,655
(19,084)
23,221
48,792
1,075,684
1,124,476|**Total**
**2022**
**£**
13,828
4,060
32,679|
|---|---|---|
|||50,567
(16,783)
10,005|
|||43,789
1,124,476|
|||1,168,265|
|||**Total**
**2021**
**£**
19,677
3,800
21,178|
|||44,655
(19,084)
23,221|
|||48,792
1,075,684|
|||1,124,476|
All of the Charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 10.
Page 7
## **Pinder Recreational Trust**
## **(Registration number: 267646) Balance Sheet as at 31 March 2022**
|**Note**
**Fixed assets**
Investments
8
**Current assets**
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
9
**Net current assets**
**Net assets**
**Funds of the Charity:**
**Unrestricted income funds**
Unrestricted income funds
**Total funds**
10|**2022**
**£**
1,080,700
88,610
(1,045)
87,565
1,168,265
1,168,265
1,168,265|**2021**
**£**
1,070,695
54,777
(996)|
|---|---|---|
|||53,781|
|||1,124,476|
|||1,124,476|
|||1,124,476|
The financial statements on pages 7 to 15 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Mr A Crowley
Page 8
## **Pinder Recreational Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Pinder Recreational Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the Charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## _**Investment income**_
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
## **Government grants**
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Page 9
## **Pinder Recreational Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **Investment properties**
The trustee considers that investment property is carried at fair value, derived from a review of reinstatement value. An external open market valuation is not justified due to the cost involved. Changes in fair value are recognised in the SOFA.
## **Fixed asset investments**
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the Charity.
Designated funds are unrestricted funds set aside at the discretion of the trustee for specific purposes. The split of each fund is noted in note 11.
Page 10
## **Pinder Recreational Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **2 Income from donations and legacies**
|Grants, including capital grants;
Government grants
**3**
**Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits
Other income from fixed asset investments
**4**
**Other income**
Rental income|**Unrestricted**
**funds**
**General**
**£**
13,828
13,828
**Unrestricted**
**funds**
**General**
**£**
21
4,039
4,060
**Unrestricted**
**funds**
**General**
**£**
32,679|**Total**
**2022**
**£**
13,828
13,828
**Total**
**2022**
**£**
21
4,039
4,060
**Total**
**2022**
**£**
32,679|**Total**
**2021**
**£**
19,677|
|---|---|---|---|
||||19,677|
||||**Total**
**2021**
**£**
26
3,774|
||||3,800|
||||**Total**
**2021**
**£**
21,178|
Page 11
## **Pinder Recreational Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **5 Other expenditure**
|Wages and salaries
Oil
Light, heat and power
Insurance
Repairs and maintenance
Sundry expenses
Website
Telephone
Independent examiner's fee
Legal and professional fees|**Unrestricted**
**funds**
**General**
**£**
925
832
1,756
2,284
5,729
260
750
569
1,051
2,627
16,783|**Total**
**2022**
**£**
925
832
1,756
2,284
5,729
260
750
569
1,051
2,627
16,783|**Total**
**2021**
**£**
681
716
1,808
2,213
8,640
196
-
569
1,014
3,247|
|---|---|---|---|
||||19,084|
Page 12
## **Pinder Recreational Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **6 Government grants**
Grants of £1,065 were received from the parish Council to help towards the cost of grass cutting. The amount of grants recognised in the financial statements was £13,828 (2021 - £19,677).
## **7 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses from the charity during the year.
## **8 Fixed asset investments**
|**8**
**Fixed asset investments**|||
|---|---|---|
|Investment properties
Other investments
**Investment properties**
**Cost or Valuation**
At 1 April 2021
**Provision**
At 31 March 2022
**Net book value**
At 31 March 2022
At 31 March 2021
There has been no valuation of investment property by an independent valuer.|**2022**
**£**
950,000
130,700
1,080,700|**2021**
**£**
950,000
120,695|
|||1,070,695|
|||**Investment**
**properties**
**£**
950,000|
|||-|
|||950,000|
|||950,000|
||||
Page 13
## **Pinder Recreational Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **Other investments**
|**Other investments**||||||
|---|---|---|---|---|---|
|**Cost or Valuation**
At 1 April 2021
Revaluation
At 31 March 2022
**Net book value**
At 31 March 2022
At 31 March 2021
**9**
**Creditors: amounts falling due within one year**
Accruals
**10 Funds**
**Balance at 1**
**April 2021**
**£**
**Unrestricted funds**
**_Unrestricted general funds_**
General Fund
50,077
Capital Fund
124,399
Revaluation Fund
950,000
1,124,476
**Balance at 1**
**April 2020**
**£**
**Unrestricted funds**
**_Unrestricted general funds_**
General Fund
24,506
Capital Fund
101,178
Revaluation Fund
950,000
1,075,684|**Incoming**
**resources**
**£**
50,567
10,005
-
60,572
**Incoming**
**resources**
**£**
44,655
23,221
-
67,876||**Listed**
**investments**
**£**
120,695
10,005||**Total**
**£**
120,695
10,005
130,700
130,700
120,695
**2021**
**£**
996|
||||130,700|||
||||130,700|||
||||120,695|||
||||**2022**
**£**
1,045
**Resources**
**expended**
**£**
(16,783)
-
-
(16,783)
**Resources**
**expended**
**£**
(19,084)
-
-
(19,084)|||
|||||**Balance at 31**
**March 2022**
**£**
83,861
134,404
950,000||
|||||1,168,265||
|||||**Balance at 31**
**March 2021**
**£**
50,077
124,399
950,000||
|||||1,124,476||
Page 14
## **Pinder Recreational Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **11 Analysis of net assets between funds**
|**11 Analysis of net assets between funds**|||
|---|---|---|
|Fixed asset investments
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**£**
1,080,700
88,610
(1,045)
1,168,265|**Total funds**
**£**
1,080,700
88,610
(1,045)|
|||1,168,265|
Page 15
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## **Signature 1**
Signed by Andrew Crowley using authentication code NHl2RVp0VUtJQ3cp at IP address 62.11.1.127, on 2022/09/15 06:26:44 Z.
Andrew Crowley's e-mail address is: a.f.crowley@burghclerepc.com.