Charity registration number: 267646
Pinder Recreational Trust
Annual Report and Financial Statements for the Year Ended 31 March 2024
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 16 |
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 2024.
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 continue to remain buoyant, with regular hirers such as the Pre-School, WI and Horticultural Club providing a steady income topped up by one-off booking fees for a vast array of events such as private parties, fundraising events, and weddings. We are pleased to report that the hall generated income of just over £18,188, an increase of approximately £1,500 when compared with the previous year.
Net rent received from the Portal Cottage of approximately £12,749 was down a little on the previous year mostly due to a deduction for the cost of replacing the water tank. The Trust continues to receive a grant from the Parish Council for the cost of grass cutting.
The Trust has been successful in securing a grant of £26,784 from the UK Government through the Department for Environment, Food and Rural Affairs as part of the UK Shared Prosperity Fund. This has enabled the much needed Portal Hall window replacement project to resume, with work expected to be completed in August 2024. The first instalment of £6,696 has been received with the final payment due on project completion.
Investments continue to provide a large portion of the Trust’s income, with £4,867 being received during the year, compared to £4,520 in the previous year.
There has been a reduction in maintenance costs this year reflecting the costs of completing work to the kitchen and heating incurred during the previous year. However, it is envisaged they will increase significantly in 24/25 due to essential work required to the cottage, roof and guttering, as well as the hall window replacement project.
Utility costs have reduced by approximately £600 due to the efficiency of the new heating system together with prudent fuel purchasing decisions.
The Trust is pleased to report a surplus of £20,138 including Restricted Funds of £6,696 compared to a deficit of £14,085 for the year ending 31st March 2023 and is satisfied the finances are in a positive position for the coming year.
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 R Carrow, Vice Chairman Mr G Morton Mr A Patrick-Smith Mrs A Harvey Mr I Collins Mr J Parkes Mrs J Letsome, Clerk 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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 2024 which are set out on pages 7 to 16 .
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:
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examine the accounts under section 145 of the 2011 Act;
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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
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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:
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(1) which gives me a reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act 2011; and
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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 2024
| 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 13 Income and Endowments from: Donations and legacies Investment income Other income Total Income Expenditure on: Other expenditure Gains/losses on investment assets Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 970 5,014 33,808 39,792 (32,089) 5,739 13,442 1,154,180 1,167,622 Note 2 3 4 5 13 |
Restricted funds £ 6,696 - - 6,696 - - 6,696 - 6,696 Unrestricted funds £ 1,236 4,558 33,267 39,061 (48,523) (4,623) (14,085) 1,168,265 1,154,180 |
Total 2024 £ 7,666 5,014 33,808 |
|---|---|---|---|
| 46,488 (32,089) 5,739 |
|||
| 20,138 1,154,180 |
|||
| 1,174,318 | |||
| Total 2023 £ 1,236 4,558 33,267 |
|||
| 39,061 (48,523) (4,623) |
|||
| (14,085) 1,168,265 |
|||
| 1,154,180 |
All of the Charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 13.
Page 7
Pinder Recreational Trust
(Registration number: 267646) Balance Sheet as at 31 March 2024
| Note Fixed assets Investments 8 Current assets Debtors 9 Cash at bank and in hand Creditors: Amounts falling due within one year 10 Net current assets Net assets Funds of the Charity: Restricted income funds Unrestricted income funds Unrestricted income funds Total funds 13 |
2024 £ 1,081,816 1,915 91,757 93,672 (1,170) 92,502 1,174,318 6,696 1,167,622 1,174,318 |
2023 £ 1,076,077 - 79,218 |
|---|---|---|
| 79,218 (1,115) |
||
| 78,103 | ||
| 1,154,180 | ||
| - 1,154,180 |
||
| 1,154,180 |
The financial statements on pages 7 to 16 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 2024
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 2024
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.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 10
Pinder Recreational Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
2 Income from donations and legacies
| Unrestricted funds General £ Grants, including capital grants; Government grants 970 970 3 Investment income Interest receivable and similar income; Interest receivable on bank deposits Other income from fixed asset investments 4 Other income Rental income |
Restricted funds £ 6,696 6,696 Unrestricted funds General £ 147 4,867 5,014 Unrestricted funds General £ 33,808 |
Total 2024 £ 7,666 7,666 Total 2024 £ 147 4,867 5,014 Total 2024 £ 33,808 |
Total 2023 £ 1,236 |
|---|---|---|---|
| 1,236 | |||
| Total 2023 £ 37 4,521 |
|||
| 4,558 | |||
| Total 2023 £ 33,267 |
Page 11
Pinder Recreational Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
5 Other expenditure
| Wages and salaries Oil Light, heat and power Insurance Repairs and maintenance Sundry expenses Telephone Independent examiner's fee Legal and professional fees |
Unrestricted funds General £ 1,113 3,503 1,637 1,818 20,433 213 432 1,219 1,721 32,089 |
Total 2024 £ 1,113 3,503 1,637 1,818 20,433 213 432 1,219 1,721 32,089 |
Total 2023 £ 1,521 2,447 2,374 1,639 36,082 271 1,394 1,132 1,663 |
|---|---|---|---|
| 48,523 |
Page 12
Pinder Recreational Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
6 Government grants
Grants of £970 were received from the Parish Council to help towards the cost of grass cutting (2023 - £1,236) and a grant from Basingstoke and Deane Borough Council of £6,696 towards the cost of replacement windows.
The amount of grants recognised in the financial statements was £7,666 (2023 - £1,236).
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
| Investment properties Other investments |
2024 £ 950,000 131,816 1,081,816 |
2023 £ 950,000 126,077 |
|---|---|---|
| 1,076,077 |
Investment properties
| Cost or Valuation At 1 April 2023 Provision At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 There has been no valuation of investment property by an independent valuer. |
Investment properties £ 950,000 |
|---|---|
| - | |
| 950,000 | |
| 950,000 | |
Page 13
Pinder Recreational Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Other investments
| Cost or Valuation At 1 April 2023 Revaluation At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Listed investments £ 126,077 5,739 131,816 131,816 126,077 |
Total £ 126,077 5,739 |
|---|---|---|
| 131,816 | ||
| 131,816 | ||
| 126,077 |
9 Debtors
| 9 Debtors |
||
|---|---|---|
| Prepayments 10 Creditors: amounts falling due within one year Accruals |
2024 £ 1,170 |
2024 £ 1,915 |
| 2023 £ 1,115 |
11 Commitments
Capital commitments
Windows
The total amount contracted for but not provided in the financial statements was £29,608 (2023 - £3,500 for spotlights).
Page 14
Pinder Recreational Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
12 Contingent assets
The charity has been awarded a grant of £26,784 by Basingstoke and Deane Borough Council for the replacement of 7 windows in the principal function room of The Portal Hall. £6,696 was recived in March 2024 and is recognised as grant income (Restricted) in the SOFA. The remaining £20,088 of funding is expected to be received upon completion of the work by the end of October. This latter amount is not provided for in the financial statements.
13 Funds
| Unrestricted funds Unrestricted general funds General Fund Capital Fund Revaluation Fund Restricted funds General Fund Total funds Unrestricted funds Unrestricted general funds General Fund Capital Fund Revaluation Fund |
Balance at 1 April 2023 £ 74,399 129,781 950,000 1,154,180 - 1,154,180 Balance at 1 April 2022 £ 83,861 134,404 950,000 1,168,265 |
Incoming resources £ 39,792 - - 39,792 6,696 46,488 Incoming resources £ 39,061 - - 39,061 |
Resources expended £ (32,089) 5,739 - (26,350) - (26,350) Resources expended £ (48,523) (4,623) - (53,146) |
Balance at 31 March 2024 £ 82,102 135,520 950,000 |
|---|---|---|---|---|
| 1,167,622 6,696 |
||||
| 1,174,318 | ||||
| Balance at 31 March 2023 £ 74,399 129,781 950,000 |
||||
| 1,154,180 |
The specific purposes for which the restricted funds are to be applied are as follows:
The charity has been awarded a grant of £26,784 by Basingstoke and Deane Borough Council for the replacement of 7 windows in the principal function room of The Portal Hall. £6,696 was received in March 2024 and is recognised as grant income (Restricted) in the SOFA. The remaining £20,088 of funding is expected to be received upon completion of the work by the end of October. This latter amount is not provided for in the financial statements.
Page 15
Pinder Recreational Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
14 Analysis of net assets between funds
| 14 Analysis of net assets between funds | |||
|---|---|---|---|
| Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted funds £ 1,081,816 86,976 (1,170) 1,167,622 |
Restricted funds £ - 6,696 - 6,696 |
Total funds £ 1,081,816 93,672 (1,170) |
| 1,174,318 |
Page 16
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Signed by Andrew Crowley using authentication code JXNSanYyTTd4UGMu at IP address 91.109.239.200, on 2024/10/24 13:12:56 Z.
Andrew Crowley's e-mail address is: a.f.crowley@burghclerepc.com.