2023-08-31-accounts

Charity registration number: 271461

Higham Memorial Hall Association

Annual Report and Financial Statements For the Year Ended 31 August 2023

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Higham Memorial Hall Association

Contents

Charity Reference and Administrative Details	3
Trustees’ Annual Report	4-5
Independent Examiner’s Report	6
Statement of Financial Activities	7
Balance Sheet	8
Notes to the Financial Statements	9-12

Higham Memorial Hall Association

Charity Reference and Administrative Details

Charity registration number 271461

Trustees

Registered office

Banker and investment managers

Independent Examiner

Mr K Bradley, Chairman Mr P Morriss, Vice Chairman Mrs F Bradley, Secretary Miss R Martin, Treasurer Mr R George Mr C Phillips Mr D Lewing Mrs J Lewing Mrs M Knight School Lane Higham Kent ME3 7JL Santander Bootle Merseyside L30 4GB The Cooperative Bank (Business) PO Box 250 Skelmersdale WN8 6WT King & Taylor (12 Limited) 123 Cross Lane East Gravesend Kent DA12 5HA

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Higham Memorial Hall Association

Trustees’ Annual Report

The Trustees present their report together with the unaudited financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

Trustees of the charity

The trustees who have served during the year and since the year end were as follows:

Mr K Bradley, Chairman (resigned 7 November 2023) Mr P Morriss, Vice Chairman (resigned 7 November 2023) Mrs F Bradley, Secretary (resigned 7 November 2023) Miss R Martin, Treasurer (resigned 7 November 2023) Mr R George (resigned 7 November 2023) Mrs M Knight (resigned 7 November 2023) Mr C Phillips (resigned 7 November 2023) Mr D Lewing (resigned 7 November 2023) Mrs J Lewing (resigned 7 November 2023) Higham Parish Council (appointed 8 November 2023)

Objectives and aims

The main objectives of the Trust are the management of the Village Hall for the inhabitants of the Parish of Higham.

Decisions have been made over the last accounting year whereby the current Trustees have decided that they will not be standing for re-election and a Sole Trustee will be taking over shortly. This was done in the best interest of the Charity and to enable to the hall to continue to thrive as a community hub.

This was not a decision taken lightly and we are sure that the new Trustees will take care of the Charity and its values.

Details of the financial results for the year can be found in the attached receipts and payments accounts.

Objectives, strategies and activities

The Committee Members have always been committed to ensuring that Hall remains an asset to the village which is why so much change has been going on. A massive thank you to each Trustee & Committee Member for their invaluable help & time dedicated to the Hall over the last year. Another thank you goes to the Hirers of the hall that make the Hall a community hub.

When we are open, our weekdays are fully booked with a vast range of groups from Irish Dancing, Dog Training, Zumba, Yoga and Exercise Groups. Weekends are when the larger train shows, guinea pig shows and private bookings take place, but our dates do go very quickly.

Without the Hirers and the volunteer Committee Members, the hall would not be able to run – so thank you.

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.

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Higham Memorial Hall Association

Trustees’ Annual Report

Use of volunteers

The Charity uses volunteers in order to meet its charitable objectives.

Financial review

Policy on reserves

It is the Trustees view that it is prudent to ensure that there are sufficient free reserves to provide financial flexibility and to enable the Charity to meet its commitments as they fall due.

Investment policy and objectives

Investment powers are conferred by the Trust Deed which imposes no specific restrictions.

Structure, governance and management

Nature of governing document

The Higham Memorial Hall Association is an unincorporated charity registered with the Charity Commission in England and Wales. The governing document is the Trust Deed dated July 1974.

Induction and training of trustees

Committee members have free access to all activities to ensure that they can be fully aware of the activities and methods of the Trust.

Major risks and management of those risks

The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems and controls are in place to mitigate the Charity's exposure to these risks.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

The annual report was approved by the trustees of the charity and signed on its behalf by:

Mr K Bradley Trustee

Date : 22 October 2023

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Higham Memorial Hall Association

Independent Examiner’s Report to the Trustees of Higham Memorial Hall Association

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2023 which are set out on pages 7 to 12.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2006 Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or;

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination;

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

J T Durell FCA 12 Limited trading as King and Taylor Chartered Accountants 123 Cross Lane East Gravesend Kent DA12 5HA

Date 24 October 2023

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Higham Memorial Hall Association

Statement of Financial Activities Including Income and Expenditure Account for the Year Ended 31 August 2023

Note Income and endowments from: Charitable Activities Lettings 3 Donations 3 Income from other trading activities Fundraising events 3 Other income Government grant 3 Interest receivable 3 Total income and endowments Expenditure on: Wages and salaries Rent and rates Insurance Independent examination fee 4 Light and heat Telephone and fax Stationery and printing Repairs and renewals Legal and professional Licences and subscriptions Depreciation Disposal on land and buildings lease expenses Sundry expenses Total expenditure Net income/(expenditure) Net movement in funds Reconciliation of funds: Total funds brought forward 7 Total funds carried forward 7		Unrestricted Funds £ 24,842 - 255 - 93	Restricted funds £ - - - - -	Total 2023 £ Total 2022 £ 24,842 20,718 - 4,117 255 481 - 2,667 93 3
		25,190	-	25,190 27,986
		3,378 1,007 941 618 2,937 78 190 13,704 5,374 494 12 3,060 1,440	- - - - - - - - - - - - -	3,378 6,454 1,007 1,587 941 836 618 605 2,937 2,644 78 72 190 109 13,704 5,374 1,157 - 494 298 12 - 3,060 - 1,440 1,365
		(33,233)	-	(33,233) (25,127)
		(8,043)	-	(8,043) 2,859
		(8,043) 32,194	- -	(8,043) 2,859 32,194 29,335
		24,151	-	24,151 32,194

All income and expenditure derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

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Higham Memorial Hall Association

Balance Sheet At 31 August 2023

Balance Sheet At 31 August 2023
Note Fixed assets Tangible assets 5 Current assets Prepayments 6 Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets Total assets less current liabilities Net assets Charity Funds Restricted funds 8 Unrestricted funds 8 Total charity funds 8		2023 £ 2022 £ 68 3,060
		68 3,060
		968 1,007 23,733 28,732 (618) (605)
		24,083 29,134
		24,151 32,194
		24,151 32,194
		- -
		24,151 32,194
		24,151 32,194

The financial statements were approved and authorised for issue by the Board.

Signed on behalf of the board of trustees

Mr K Bradley, Trustee

Date: 22 October 2023

The notes on pages 9 to 12 form part of these financial statements.

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Higham Memorial Hall Association

Notes to the Financial Statements for the Year Ended 31 August 2023

1 Summary of significant accounting policies

(a) General information and basis of preparation

The charity is a trust registered by the Charity commission in England and Wales and governed by the Schemes dated 10[th] July 1978 and 26 March 1997. The registered address is given on page 2 of these financial statements. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest pound.

The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. These include funds for repairs and maintenance and extraordinary repair reserves.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Income from investments in the form of dividends and interest is included in the financial statements when declared.

Income from government and other grants, whether capital or revenue grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be reliably measured and is not deferred.

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Higham Memorial Hall Association

Notes to the Financial Statements for the Year Ended 31 August 2023

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Expenditure on charitable activities includes the costs of running and maintaining the Hall. Other expenditure represents those items not falling into the above category.

(e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity.

(f) Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land Nil Leasehold improvements Over the life of the lease Computer equipment 20% reducing balance

(g) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(h) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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Higham Memorial Hall Association

Notes to the Financial Statements for the Year Ended 31 August 2023

3 Income

ncome
Lettings Fundraising Donations Interest received Government grant	2023 £ 2022 £ 24,842 20,718 255 481 - 4,117 93 3 - 2,667
	25,190 27,986

Income from charitable activities was £25,097 (2022 - £21,199) of which £Nil (2022 - £Nil) was attributable to restricted and £25,097 (2022 - £21,199) was attributable to unrestricted funds.

4 Independent examiners remuneration

The independent examiners remuneration amounts to an independent examination fee of £618 (2022 - £605).

5 Tangible fixed assets

Cost or valuation: At 1 September 2022 Disposals At 31 August 2023 Depreciation: At 1 September 2022 Charge for the year At 31 August 2023 Net book value: At 31 August 2023 At 31 August 2022	Short leasehold £ 3,061 (3,061)		Computer equipment Total £ £ 80 3,141 - (3,061)
	-		80 80
	- -		- - 12 12
	-		12 12
	-		68 68
	3,061		80 3,141

On 13 January 2022 a transfer of land was made to the Official Custodian for Charities under powers given under the Charities Act 2011 which now holds the property on behalf of Higham Memorial Hall. No payment was made for this, however associated costs related to this were capitalised and included on the balance sheet under the expectation that a lease would be signed in due course. During the year it became clear that the lease would not be renewed, therefore these costs have now been written of.

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Higham Memorial Hall Association

Notes to the Financial Statements for the Year Ended 31 August 2023

6 Debtors

Prepayments Total	2023 £ 2022 £ 968 1,007
	968 1,007

7 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Accruals Total	2023 £ 2022 £ 618 605
	618 605

8 Fund reconciliation

Funds

Unrestricted General reserve Restricted reserve Unrestricted General reserve Restricted reserve	Balance at 1 Sept 2022 £ 32,194	Income £ 25,190	Expenditure £ (33,233)	Gains/ (losses) £ Balance at 31 Aug 2023 £ - 24,151
	-	-	-	- -
	32,194	25,190	(33,233)	- 24,151
	Balance at 1 Sept 2021 £ 29,335	Income £ 27,986	Expenditure £ (25,127)	Gains/ (losses) £ Balance at 31 Aug 2022 £ - 32,194
	-	-	-	- -
	29,335	27,986	(25,127)	- 32,194

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