## **PDCC Financial Review 2019-2020** 

The turbulence experienced in the financial year (Oct 2019 – Sep 2020) makes it difficult to summarise the financial performance of the centre without breaking it into key periods and activities. To help the members to disseminate, we have analysed the performance as follows: 

Operating activities Oct 19 – Feb 20 Operating activities Mar 20 – Sep 20 Exceptional items Cash balance 

## **Operating activities Oct 19 – Feb 20** 

Positive net cashflow: £1,465 

This period saw a good level of activity. Regular hall hires continued, we had additional interest from new activity providers and private bookings were performing well. Note the cost of fireworks was born ion the previous financial year but the income was accounted for in this financial year, so the positive cashflow is somewhat distorted as a result, but a good start to the year, nonetheless. 

## **Operating activities Mar 20 – Sep 20** 

Negative net cashflow: -£5,566 

COVID had the following key financial impacts on the centre: 

- Refunds given to private hall hirers 

- Cancellations of regular hall hirers 

- Significant increase in cleaning requirements for the reduced activities that were able to continue 

- Continued upkeep/maintenance costs required to the centre and playing field. 

Note this negative cashflow does however include our maintenance and cleaning contract costs which, throughout the closure was diverted to the task of redecorating throughout the centre. Taking this into consideration, the operational loss has bought some much-needed work at a very favourable rate. 

## **Exceptional items** 

Grant funding: £11,200 

- The centre was eligible for the Mid Suffolk District Council small business covid relief funding, and the Trustees agreed that it was our fiduciary responsibility to apply for this grant. We were successful in our application and received £10,000 in the year. 

- The children’s sports activities club Palgrave All-Stars was also successful in securing £1,200 in funding through the MSDC Locality Award. This money is ringfenced and as yet unspent. 



Wind Turbine net income: £9,413 

The reduced energy usage of the centre has meant that even more clean energy has been pushed back into the grid and has achieved a fantastic financial return this year. This figure is somewhat skewed as some of this energy usage related to the previous financial year. 

Insurance cost: -£1,599 

## **Cash balance** 

The Trustees have tried to keep costs down whilst managing the expectations and requirements of our hirers. Money has been spent wisely on the refurbishment in preparation for reopening, and grant funding alongside wind turbine income has bolstered our cash balances, leaving us with a health cash position of £46,091 at the end of the year. 

## **Conclusion** 

The Trustees recognise that the strong performance this year leaves the centre in a healthy financial position to tackle the challenges that will come with the recovery once covid restriction end. It also presents a fantastic opportunity to look at investments and improvements needed in the future to ensure that the centre remains a valuable community asset for generations to come. 



PALGRAVE & DISTRicf COMMUNITY CENTRE
Income and Expenditure A¢tount, 2019120 - year ended 30th September, 2020.
2018119
INCOME
2019120
1.685 IMember5hip Subscriptions
IDonations:
I Palgrave & District Communlty Club
3.933 1 Others
- IGrants reteived
1,008 IRent Icomrnunity Clubl
IHire of facilities: main Hall
9,473
Lounge
1.545 IAdvertlsing income
Isales.. Recycled glass
Calendars
1,620
3,574
359
509
1,728
11,200
1,008
7,546
1,927 j
4,303
5,793
1,000
387
290
677
97
10,132
2,554 tFIT payments received
Ilncome from Events:
Fete
1,871
l Open Gèrdens
l Talks & Exhibitions
Others
IPDCC 100 Club
IDonatlons from assoeiatèd clubs:
Palgrave Cinerna
Friendship Club
Carpet Bowls & Crib
All Stars
1,333
3,335
6,006
11,212
I,oii
2,551
40
159
793
1,048
1,705
5 Ilnterest received.. deposit accounts
Isundries
43
33,140
Total In¢ome
36,881

PALGRAVE & DISTRICT COMMUNITY CENTRE
In¢ome and Expendlture Account. 2019120 cont.- year ended 30th September, 2020.
2018119
EXPENDITURE
2019120
545
840
961
Administration & office expense5
Professional fees.. accountancy
Licence fee5
Insurance
211
736
1,599
1,622
3,610
380
Printing Palgrave Star
Printing- other
Light & heat.. electricity
Water charges
Waste disposal
Keyholding
Caretaking & cleaning
Property expen5e5:
building repairs & maintenance
hall equipment
playing field
turbine repairs & maintenance
play equipment
2,590
53
3,990
1,311
58
623
2,643
1,920
56
236
1,654
2,876
1,360
4,485
12,969
2,204
149
3,491
816
180
503
22.273
6.840
Cost of sta8lng Events:
Fete
Talks & Exhlbltlons
other5
PDCC 100 Club
Palgrave Cinema
Palgrave All Stars
Capital expenditure
863
958
3,330
iii
885
150
626
324
56
399
96
Miscellaneous expenses
45
6,000
Loan repayment
46,893
Total expendlture
21,967
113,7531
Net Incomellexpenditurèl
14,913

PALGRAVE & DisfRicr tOMMUNtrY CENTrE
Income and ExpendSture A¢count. 2019120 ¢ont.- year onded aoth SeptembEr, 2020.
2018119
CASH BALANCES
2019120
44,931
Cash funds blfwd as at 1st October
31.178
113,7531
Movement In cash resour¢es
14,913
31,178
Cash Funds clfwd as at aoth September
46mi
Analysls of Cash Funds..
21,084
10.th)3
90
Treasurer's current account
Deposit account
Petty cash
35,993
10,008
90
31.178
46,091
TheseAccounts were prepared by the Treasurer and
Independently examined by, Graham LeiBh:
Date..


## **PALGRAVE & DISTRICT COMMUNITY CENTRE** 

## **Charity No. 269132** 

## **The Minutes of the virtual Annual General Meeting held on Wednesday 17th March 2021, commencing at 7.30 pm** 

**Present:** Sharon Cousins-Clarke **,** Phil Dyer, Laura Forster, George Georgiou, Heather Goddard, Dave Griffiths, Carol Hardstone, Diane Henderson, Peter Humphreys, John Kilgannon, Sophie Kilgannon, Graham & Pat Leigh, Jane Lockwood, Lee Lockwood, Ian McClintock, Jane McClintock, Hazel Massey, Eric Milne,  Michael Rogers (also representing Palgrave Cinema), Heribert & Kathryn Westerveld,& Derek Clarke 

Sharon Cousins-Clarke introduced herself and advised she would be chairing the meeting and also explained how the meeting would run as this was the first time the PDCC had done the AGM via Zoom. 

**1.   Apologies for absence** were received from Jean Potter, Tracey Shaughnessy & Helen Thorburn 

**2.   The Minutes** of the last AGM, held on 20th November 2019, had been previously sent out via email to those that were present. There being no comments or questions the minutes were duly signed as a true record by HG, the PDCC secretary. 

**3.   The Chairman's Annual Report.** This had also been sent out via email for people to read prior to the meeting.  SC-C briefly ran through it highlighting that it had been a year of two halves, a good start in October, then plunged into lockdown in March 2020 and the closure of the centre.  Meetings had to move online until the summer, however this was short-lived because Covid-19 restrictions were re-imposed.  The Trustee Committee ran without a Chair or Vice-Chair for the year with a TC member acting as Chair at the monthly meetings.  New members George Georgiou and Laura Forster joined the committee, followed by Sharon Cousins-Clarke and we welcomed back Jane McClintock.  The centre was risk assessed by Phil Dyer in order for us to open following Covid-19 regulations and we thank him for his work in doing this.  Jane and Lee Lockwood were thanked for all their work in preparing the centre to ensure it complied with guidelines and all times and for their time given to making improvements to the centre including redecorating and gardening.  Thanks were given to Heather Goddard for her secretarial support and hard work in producing the Palgrave Star on a monthly basis. 

The wind turbine has continued to provide an income to the centre through the FITs payments received. 

A volunteer working party has cleared brambles and undergrowth from the edges of the field to prepare for the wildflower areas planned for later this year.  A small number of trees have also been planted and thanks were given to all those who helped following social distancing rules. 

The extraordinary events have had a significant impact on the activities of the Centre, however funds have been managed prudently and we have received grant funding which has helped with the loss of income.  Full details available to read in the Treasurer’s report. 

Moving forward the committee believe that the centre and playing field have great potential and we plan to enhance and improve facilities to keep them up-to-date and make sure they meet the needs of potential and existing users.  To do so we plan to consult with Palgrave residents to find out what 



the community wants.  A number of ideas have been carried forward from 2019 such as extending the building, upgrading the kitchen and improving the car park. 

## **4.   The Treasurer's Report and adoption of the Annual Statement of Accounts.** 

Peter Humphreys introduced himself and advised that he had been in place since October 2019.  He ran through the financial review which had been broken down into key periods.  Operating activities October 2019 – February 2020 saw a good level of activity with regular and additional hall hiring leaving a positive net cashflow of £1,465. Operating activities March 2020 – September 2020 saw Covid-19 having a financial impact on the centre with refunds being given to private hirers, cancellation of regular hirers and a significant increase in cleaning costs as well as the continued upkeep/maintenance of the centre and field.  This left a negative net cashflow of £5,566. 

We did however receive successful grant funding from Mid Suffolk District Council for Covid relief for £10,000 and a further £1,200 through the MSDC Locality Award towards Palgrave All Stars, this is ringfenced and as yet unspent. 

The wind turbine continues to bring in FITs payments and net income received for the year was £9,412. 

Insurance costs were £1,599. 

In conclusion the centre is in a healthy financial position with funds in excess of £46,000, that will help to tackle the challenges that will come with the recovery once Covid restrictions end. 

Sharon Cousins-Clarke proposed and Jane McClintock seconded, that the accounts as presented be adopted. Graham Leigh, as the independent examiner, confirmed that he had agreed the accounts. 

**' 5.   To confirm the rate of Members annual subscription for 2021/22** . Sharon Cousins-Clarke 

proposed that the rate of subscription remain at £10 pp pa, this was seconded by Peter Humphreys and those present unanimously voted in favour.  Sharon Cousins-Clarke then proposed that the annual subscription due in October 2020 which was extended until March 2021, be further extended to September 2021.  This was seconded by Michael Rogers and again unanimously agreed. 

## **6.   The election of the 'elected' Officers.** 

Chairman:  Sharon Cousins-Clarke put herself forward to become Chair, this was then proposed by Jane McClintock and seconded by Laura Forster. 

- Vice chair:  no nominations or volunteers were received from those present. 

Hon. Secretary:  Heather Goddard was proposed by Sharon Cousins-Clarke, seconded by Peter Humphreys, and declared elected;  and 

Treasurer: Peter Humphreys agreed that he was happy to stand again and was proposed by Sharon Cousins-Clarke and seconded by George Georgiou and declared elected. 

**7.  Proposal to amend section 5 of the Constitution.  Specifically, to remove “** _**5.1c) (No Charity Trustee or connected person may) be employed by, or receive any remuneration from, the Charity.”**_ New IR35 tax regulations mean that employment may now be identified as the appropriate and legal contract, rather than a contract for Goods/Services as specified in 5.2b).  Sharon CousinsClarke (Chair) proposed the change to the constitution as outlined.  This was seconded by Peter Humphreys.  Heribert Westerveld asked what the impact of this was.  Did it mean we could employ people and mean that we would have to pay PAYE.  The Chair agreed that yes it would and Peter Humphreys advised that we would like to keep any employees under the PAYE threshold.  He stressed that no Trustee would be paid for carrying out their Trustee duties.  There being no other questions a vote was taken to amend this section which was unanimously agreed. 

**‘ ’ 8.  To receive notice of approved Member Organisations .** The member organisations were identified as: Palgrave Community Club, The Friendship Club and The Friends of Palgrave School. 



## **9.  To elect ‘Member Organisations’ to the Trustees' Committee.** The following were declared 

elected and their representatives will be declared Trustees (as an individual): 

Palgrave Community Club (rep. Eric Milne), proposed by Sharon Cousins-Clarke and seconded by Michael Rogers. 

The Friendship Club (rep. Jean Potter), proposed by Eric Milne and seconded by Peter Humphreys. The Friends of Palgrave School (rep. Laura Forster), proposed by Michael Rogers and seconded by Peter Humphreys. 

## **10.   To elect ‘ordinary Members’ as Trustees and members of the Trustees' Committee.** The 

following were declared elected unopposed: 

George Georgiou proposed by Peter Humphreys and seconded by Eric Milne. Carol Hardstone proposed by Sharon Cousins-Clarke and seconded by George Georgiou. John Kilgannon proposed by Lee Lockwood and seconded by George Georgiou. Lee Lockwood proposed by Michael Rogers and seconded by Eric Milne. Eric Milne proposed by Lee Lockwood and seconded by John Kilgannon. Jane McClintock proposed by Laura Forster and seconded by Lee Lockwood. Michael Rogers proposed by Eric Milne and seconded by George Georgiou. Helen Thorburn proposed by John Kilgannon and seconded by Eric Milne. 

Others can be elected later on during the year if anyone present or not decided they wished to join the Trustee Committee. 

## **11.  To elect the Independent Examiner for 2020/21.** 

Graham Leigh was proposed by Peter Humphreys and seconded by Lee Lockwood and appointed unanimously 

## **12.  Any other business.** 

The Chair wished to thank Kathy Milne who has stepped down as a Trustee but has kindly decided to remain as a volunteer. 

Derek Clarke said that he has lived in the village for 30 years, but now feels like part of the village community.  Laura Forster echoed these sentiments. 

There being no further business the Chairman was able to close the meeting at 8.05 p.m., thanking all for their interest and attendance. 

## **Signed as a true record of proceedings:** 

## **Chairman                                         Date: __________________________**