## Seavington Playing Field Association (SPFA) incorporating Seavington Millennium Hall Treasurer’s Report for the year to 31 March 2021 (FY21) 

## **Summary** 

The SPFA net deficit was £2,064 (FY 2019 4,050), consisting of: Hall, Breakeven £0 (FY 2019 surplus £786)  Playing field deficit  £2,064 (FY 2019 deficit £4,836) 

SPFA total reserves at 31 Mar 2020 decreased to £5,019 (FY 2019 £7,083). 

## **Hall:** 

The hall was closed for the whole year due to Covid-19 so there was Nil hire income. We (the outgoing trustees) have forecast a slow recovery in hirings over the next 5 years.  Even by March 2026 we have forecast hirings to be 25% below the pre-Covid volume.  Although the hall was mothballed many costs continue, even if at a reduced rate.   This  could  have  led  to  the  Seavington  Playing  Field  Association  (SPFA) becoming insolvent by March 2022.  However, we received government grants to alleviate the situation amounting to £39,143. These came in under various names such as the "Retail, Hospitality and Leisure Grant" (RHLG) to cover the lost hire income.  Our latest forecast shows that the SPFA should remain solvent for at least the next five years. 

There are very little in the way of detailed conditions attaching to the grants.  The Committee take the view that the lost hire income over that period would have financed much of the ongoing maintenance and refurbishment costs so it is valid to use some of the RHLG for this purpose.  As there were no current bookings (except the  election)  they  have  accelerated  the  refurbishment  (£5300  in  FY21)  to  take advantage of the void. This has contributed to a deficit before grant relief of £12,037. The hope is that the refurbishment brings breakeven forward by making the hall more attractive to future hirers in a competitive market. 

We have released £12,037 of the RHLG from reserves in the Balance Sheet into the Income & Expenditure Account bringing the year to breakeven, and leaving £27,106 for future years. This is a book entry. 

## **Playing field:** 

We received a final £1,500 grant for the playground project in the year, from the Football Foundation. We spent £20,131 on the project this year leaving £6,322 ringfenced to replace the basket swing in due course. £1,571 of the project cost was covered from our existing reserves. 

The Parish Council bought £34,939 of the playground equipment and gifted it to the SPFA.  We would like to thank them for this and their £1,500 grant towards mowing costs. 

Excluding the playground and field improvement project the playing field deficit was £494. 

## **Controls and Auditing** 

The financial statements are prepared on an Income & Expenditure basis.  As our Page **1** of **2 27 April 2021** 



## Seavington Playing Field Association (SPFA) incorporating Seavington Millennium Hall Treasurer’s Report for the year to 31 March 2021 (FY21) 

income is less than £250,000 our accounts do not require an audit. HMRC have confirmed our charitable status so our income remains tax free.  The committee would like to thank Tony Beresford for once again reviewing the accounts. The financial statements are on the village website. Please contact me (david.bennett20@btinternet.com) if you have any questions. 

David Bennett, Treasurer 

Page **2** of **2 2021** 

**27 April** 



Seavington Playing Field Association 

Income & expenditure - Year Ended 31 March 2021  (FY21) 

|INCOME<br>3210<br>Hall hire<br>3213<br>Pitch hire<br>3220<br>Events Proceeds, Hall<br>3230<br>Gifts & Donations, Hall<br>3233<br>Gifts & Donations, Field<br>3240<br>Retail, Hospitality and Leisure Grant<br>3243<br>Parish Council Grant<br>3263<br>Shop Ground Rent<br>3273<br>Lottery<br>3290<br>Feed in Tariff Solar panels<br>3400<br>Bank interest received<br>**Total Income ( excl Grants):**<br>EXPENSES<br>5140<br>Water , Hall<br>5143<br>Water, field<br>5180<br>Electricity<br>5190<br>Gas<br>5260<br>Bookings admin.  Cleaning<br>5300<br>Repairs & maintenance  Hall<br>5303<br>Repairs & maintenance Field<br>5323<br>Playground Equipment<br>5333<br>Improvements, Field<br>5663<br>Lottery licence & prizes<br>5670<br>Performing Rights Society<br>5690<br>Insurance - Hall<br>5693<br>Insurance - Field<br>6930<br>Legal Fees<br>6943<br>Subscriptions<br>**Total Expenses ( excl Field Improvements):**<br>**NET SURPLUS (Deficit) before Extraordinary items**<br>**Extraordinary items**<br>3240<br>Release of Grant, Retail, Hospitality and Leisure<br>3243<br>Release of Grants, Field<br>5333<br>Improvements, Field<br>**Sub-total,  Extraordinary items**<br>**NET SURPLUS (Deficit) for year, after**<br>**Extraordinary items**<br>Reserves Brought Forward<br>**Reserves Carried Forward at Year end**|FY 2021<br>SPFA<br>£<br>0<br>211<br>0<br>81<br>0<br>0<br>1,500<br>1,000<br>1,000<br>1,796<br>166<br>**5,754**<br>91<br>(2)<br>371<br>416<br>3,699<br>8,598<br>3,435<br>95<br>0<br>500<br>0<br>885<br>125<br>20<br>50<br>**18,285**<br>**(12,530)**<br>12,037<br>18,560<br>(20,131)<br>**10,466**<br>**(2,064)**<br>7,083<br>**5,019**|FY 2021<br>Hall<br>£<br>0<br>0<br>0<br>81<br>0<br>0<br>0<br>0<br>0<br>1,796<br>166<br>**2,044**<br>91<br>0<br>371<br>416<br>3,699<br>8,598<br>0<br>0<br>0<br>0<br>0<br>885<br>0<br>20<br>0<br>**14,081**<br>**(12,037)**<br>12,037<br>0<br>0<br>**12,037**<br>**0**<br>19,191<br>**19,191**|FY 2021<br>Field<br>£<br>0<br>211<br>0<br>0<br>0<br>0<br>1,500<br>1,000<br>1,000<br>0<br>0<br>**3,711**<br>0<br>(2)<br>0<br>0<br>0<br>0<br>3,435<br>95<br>0<br>500<br>0<br>0<br>125<br>0<br>50<br>**4,204**<br>**(494)**<br>0<br>18,560<br>(20,131)<br>**(1,571)**<br>**(2,064)**<br>(8,057)<br>**(10,122)**|FY 2020<br>SPFA<br>£<br>9,791<br>244<br>100<br>1,077<br>204<br>0<br>0<br>625<br>2,450<br>1,672<br>20<br>**16,181**<br>892<br>37<br>701<br>627<br>5,749<br>2,882<br>3,733<br>127<br>1,225<br>(12)<br>1,034<br>0<br>0<br>**16,995**<br>**(813)**<br>0<br>29,282<br>(32,519)<br>**(3,237)**<br>**(4,050)**<br>11,133<br>**7,083**|Variance<br>Variance as a<br>SPFA 2021 less<br>2020<br>%age of 2020<br>Comment<br>£<br>%<br>(9,791)<br>-100%<br>Covid-19 closure<br>(34)<br>-14%<br>(100)<br>-100%<br>(996)<br>-92%<br>(204)<br>-100%<br>0<br>0%<br>1,500<br>0%<br>375<br>60%<br>Increased from £125 to £250 per quarter<br>(1,450)<br>-59%<br>No door step collection due to Covid-19<br>124<br>7%<br>147<br>749%<br>**(10,427)**<br>**-64%**<br>0<br>801<br>90%<br>Reduced consumption due to Covid-19<br>39<br>104%<br>330<br>47%<br>Reduced consumption due to Covid-19<br>210<br>34%<br>Reduced consumption due to Covid-19<br>2,050<br>36%<br>Rates of pay increased<br>(5,715)<br>-198%<br>Normal fluctuation<br>298<br>8%<br>Normal fluctuation<br>32<br>25%<br>0<br>0%<br>725<br>59%<br>(12)<br>100%<br>149<br>14%<br>(125)<br>0%<br>Increased due to new Playground Equipment<br>(20)<br>0%<br>(50)<br>0%<br>**(1,290)**<br>**-8%**<br>**(11,717)**<br>**1441%**<br>12,037<br>0%<br>Released from Grants totalling £39, 143 - bringing<br>Hall to break even.<br>Leaves £27,106 in reserve.<br>(10,722)<br>375%<br>Released from Grants, leaving £6322 for swing<br>basket<br>12,388<br>-14%<br>End of project, except £6322 for swing basket<br>**13,703**<br>**1,986**<br>**-49%**<br>(4,050)<br>(2,064)|
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**REPORT TO THE SEAVINGTON PLAYING FIELD ASSOCIATION COMMITTEE** 

I have reviewed the accounts for the year ended 31 March 2021 as presented to me by the Treasurer, David Bennett, and from the information and explanations given to me by him. 

I have not conducted an audit and express no opinion on the accuracy of the accounts. This year I have only seen email copies of documents but not originals due to the current virus situation. In particular I have not seen original bank statements or pass books. 

I have found nothing adverse but make the following comments. 

I have not seen the details of the terms and conditions relating to the substantial Covid support grants and make no comment on the possibility of any grants needing to be repaid. 

Inevitably as a small voluntary organisation there is little opportunity for the sort of internal controls common in more substantial organisations. The association therefore necessarily relies heavily on the honesty and integrity of those responsible for custody of the association’s assets, paying its expenses or dealing with its income. 

This is particularly important in two respects: 

- In the year under review the Treasurer made on line payments from the two bank current accounts without any second authorisation as would be required for cheque payments. Control over payments was however improved as most of the SPFA funds were held in the Virgin deposit account (which requires two signatures for withdrawals) and the second signatory could question the reason for any withdrawal. I understand that a second authorisation is now required and recommend that this should be continued. 

- Although no hall bookings gave been made this year The Booking Clerk has previously been responsible for all aspects of bookings, including raising of the invoices which are included in the accounts by the Treasurer. 

The Committee should consider whether any changes should be made to improve control over bookings. 

TONY BERESFORD 13 May 2021