Notes for the accounts to 30 Sept 2023
Copy of the Profit and Loss Account and Balance Sheet attached
Letting income matched that for the previous financial year at £12,626 and is now in line with the type of letting income levels received precovid. The Institute benefits from having a mixture of five regular bookings throughout the year complemented by a series of ad-hoc bookings for ‘one off’ events.
Once again, one third of total letting Income arises from one source (OML).
The three largest income receipts from lettings were:
| OML | £4,386 |
|---|---|
| TJD | £1,225 |
| NCPC | £2,551 |
Nb. NCPC letting income includes the successful subsidy scheme for regular lets.
Once again the Institute received the regular support of village sporting and social clubs including Cricket Club, Bowls club, Historical Society, Bingo, School and Bank Holiday Fun Day.
Hall expenses were up on previous years costs with ‘Heat and Light’ energy costs showing a 50% increase on the previous years costs ( £2,351 against £1,550 – which, in itself, was a significant increase on previous years). The Institute had installed a Smart Meter in 2022 and the IMC are in the process of switching energy supplier in order to try and restrict future increases in energy costs.
Cleaning costs (£2,646) were around normal levels, as was insurance, and water rates showing a 50% increase ( £872).
Excluding the five regular monthly bookings there were an additional 64 separate ‘one off’ bookings across the financial year ( an average of five per month). The variety of these bookings, ranging from childrens parties, wedding anniversaries, wakes and company presentations, demonstrates the versatility and attractiveness the Institute provides to a range of diverse requirements.
The largest financial transactions related to the fund raising project for replacement nets and poles at the edge of the cricket field bordering the houses. A huge fund raising campaign was undertaken, principally by TW, which raised the vast majority of the funds required through a crowd funding appeal and successful applications for grants and donations. Because the funds were both raised and spent before the end of the financial year they do not appear in the closing balances. Well done TW for a successful project.
There was a significant spend on a total rewiring and upgrading of all the electrics in the hall in November 2022 (cost of £5,454) which was long overdue and will now provide an ongoing regulated supply for many years. The Building and its contents insurance were renewed at a cost of £940 with Zurich. Hall expenses were all higher in the year with total expenditure being £1,200 higher than in 2022.
We renewed our annual advert in SCAN magazine at £250
Other minor and miscellaneous sundry expenses to ensure the Hall continues to be stocked and function correctly saw a 90% increase over 2022 due to larger items needed ie. Baby changing stand, pedal bins, microphones and an increase in broadband costs.
The nett deficit of £2,775 (compared to previous year) was primarily down to the IMC contribution towards the nets and poles fund (£3,000) and pre-payment of a lodged claim for gift aid of circa £1,200 which is expected to be received in October/ November 2023. This has resulted in the current account balance being £4,000 lower than in 2022 year end.
The IMC finances remain healthy and at the end of September we had £16,598 in our Current account, £12,008 in our Deposit account and retained cash of £48.57
Included in the creditors figure (under current liabilities) of £790 are amounts held as deposits for future bookings and current key holders. This is much lower than September 2022 because of the prepayment by OML (£1,350) in September 2022.
Roy Platten IMC Treasurer November 2023
12,625.75 12,669.17 Hall Exp aeanlrKJ Ltght and Heat In5urarKe ¥a 1613.00 i An68 1,550.82 11 tk 646.0) Z351.1 562.75 6,809.89 5,695.13 sblpl LettirJs 5,815.86 6,974.04 Parish Cnal Lk¥oth)r6 Bingo 2,551.(Kl 2,041.CK) Function5 Cricket dub ly)undary nets 14.795.78 5.20 1667.CK) SuThJry RelEts 148.19 18,174.97 5,117.20 Rekwlts a¥KI Ren15 6,118.(X) 19,(YXI.(KI 1,961.74 630.IX) 250.crfj Advertising Funct)r Sundry E%Se$ I,Sfl.41 845.13 26,765.41 3,686.87 Net Surylus / (l>efidt) for the Year (2,774.58) 8,404.37
140,510.89 140.510.&J 140,510.89 IA597.Y 20,492.57 12A)7.&) 28fi54.36 31548.94 1.910.0) I.910.Cl 27th.36 30,638.94 168J75.25 171.149.B3 171.149.83 774.58) usl ([1t) for the Y 162,745.46 8,404.37 16BJ7525 171,149.83 gVQ 131L AI,& 2J (aw1Mn)
CHARITY (OMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner'5 Report Report to the trust8osl member4 of NDRfH CRflwL i$r1 ior On accounts for the yoar ded 30 7N &-PrEM6tA 0013 Charity no (If any) 171678 Sèt out on pago8 rf(iJo. I I report to the trustees on my examination of the accounts of the above charity (ak&TFdsf) for the year ered 3ov/o9 / AO Z 3 RMponslbllltle8 and As the chanty trustees of the Trust, you are responsible for the preparation bas18 of report of the accounts in accordance with the requirements of the Charities Act 2011 (Ihe Acr). I report in resFXrt of my examination of the Trust's accounts r2rri8d out under section 145 of the 2011 A¢t and in carying out my examination, I have followed the awicable Dir6dions given by the Charty Commission urKler section 1445)(b) of the Ad. I have completed my examination. I confinn that no material matters have come to my attention { ") in connection with the examination which gNes me ¢ause to belEve that in. any material respect ac¢ounting red$ were not kept in accordance wtth se¢Xion 130 of the Act or the accourts do not a(xord with the a(xxunting records Indopendent examinerfs 8tatsm•nt I have no concems and have como aCS no other matters in connection wilh the examination to which attention should be drawn in order to enable proper understanding of the accounts to be reached. ' PI88S8 delete the S in the brackets rfthey do not apply. Slgn•d: Name: fEAFftC<- 4 ITII Relevant professlonal quallficatlon(s) or body {If any): irf Aav) N4LFS Address: oIcAArtJ> hlEKIPotr P4&h/6lL Boc4J MK16 qLv IER October 2018