COSSINGTON VILLAGE HALL
CHARITY NO: 273050
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2022
INCOME AND EXPENDITURE BASIS
with
INDEPENDENT EXAMINER'S REPORT
COSSINGTON VILLAGE HALL
FOR THE YEAR ENDED 28TH FEBRUARY 2022
CONTENTS
Page
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1 & 2 Trustees' Annual Report 3 Managing Committee Members
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4 Independent Examiners Report
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5 Balance Sheet
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6 Summary of the Financial Statements
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7 Income and Expenditure Account - General Fund
COSSINGTON VILLAGE HALL
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 28TH FEBRUARY 2022
The Managing Trustees' present their Report for the year ended 28th February 2022 which should be read in conjunction with the attached Financial Statement for the year.
LEGAL STATUS
Cossington Village Hall was erected in 1921 by local parishioners in memory of those who died during the Great War of 1914-18 and was administered by the Management Trustees in conformity with the Trust Deed dated 18 September 1962 for the use of the inhabitants of the Parish of Cossington and the neighbourhood. The site of the hall was exchanged for a new hall on land just behind, which was completed in October 2011. Following this, the original Trust Deed was revised on 7th January 2013 to which it now conforms.
The Original Custodian Trustees:
John Arthur Church Patron of the Living of Cossington (Deceased) The Rev. T Vodden Rector of the Parish Church (Deceased) Samuel Stradling Churchwarden (Deceased) Ivor Bell Parish Councillor (deceased)
Cossington Village Hall was vested in the Official Custodian for Charities for all the Estate and Interest to be held in Trust for the Charity and sealed By Order of the Commissioners dated 5 June 1979. The new hall was similarly vested in the Official Custodian on 24 August 2012.
THE MANAGEMENT TRUSTEES
The Management Committee consists of seven members elected at the Annual General Meeting and six appointed members, one from each of the six organisations as stated upon the Trust Deed, and may include not more than 3 coopted members.
Elected and Representative Members are the Charity Trustees and are responsible for the control and management of the administration of the Charity under the Charity's governing document.
RESPONSIBILITY FOR THE FINANCIAL STATEMENT
The Trustees are responsible for the preparation of the financial statements and for keeping proper accounting records which disclose the financial position of the charity. The Trustees have elected to prepare the financial statements on the income and expenditure basis.
REVIEW OF THE YEAR
This has been another year during which our finances would have suffered yet again from further periods of lockdown. However, there has again been generous grant support from Sedgemoor District Council totalling just over £20,000 which has not only saved us from posting another deficit but has given us a cushion against any further disruption.
From the low point of £4,078 in 2020/21, hire fees improved substantially to £11,274 and we have been very pleased to be able to welcome several new regular hirers, including the Bridge School in the village, a dancing class, a new monthly jazz concert and a weekly martial arts group on a Sunday morning
The bar was back in profit at £981 against last year’s loss when much of the stock went out of date. Our bank have introduced charges, including for handling cash, so we have converted to card only with the purchase of two card readers which has been a great success. Income from the solar panels was slightly down but, overall, total income came out at £35,508 against £17,494.
COSSINGTON VILLAGE HALL
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 28TH FEBRUARY 2022 CONTINUED
Total expenses were only very slightly up, from £17,840 to £17,938 but this did include unwelcome high expenditure on repairs to the heating system at over £2,000 and the need to replace the kitchen fire shutter at £750. Because we were using less electricity than warranted by our monthly direct debit, we did receive a refund of £726 from EDF.
We have frequently had feedback that we should have some smaller round tables and so ten were bought at a cost of just under £1,000.
Overall, our bank balances are extremely healthy and give us good buffer against any further unexpected expenditure and the need to renew equipment, and we are very hopeful that 2022/23 will see a return to normality with activity in the village hall continuing to flourish.
COSSINGTON VILLAGE HALL
MANAGING COMMITTEE MEMBERS AS AT 28TH FEBRUARY 2022
| Chair | R H Taylor | Elected |
|---|---|---|
| Vice Chair | 'Vacant' | Elected |
| Secretary | Ms C N Watson | Elected |
| Treasurer | J Turner | Elected |
| I B Morrison | Elected | |
| Ms D Bloodworth | Elected | |
| Mrs V A Sparkes | Elected | |
| Ms K Brown | Elected | |
| Representative Members | S A Parham | Cossington Bridge Club |
| M F Dare | Cossington Parish Council | |
| J Gane | Cossington Parochial Church Council | |
| Mrs R M Pope | Vintage Motorcycle Club | |
| Mrs K L Smith | Cossington Badminton Club |
The Independent Examiner for the Trustees is
Sage & Thyme Kingsfield Smallways Lane Chilton Polden Somerset TA7 9EG
COSSINGTON VILLAGE HALL
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COSSINGTON VILLAGE HALL FOR THE YEAR ENDED 28TH FEBRUARY 2022
I report to the trusteed on my examination of the accounts of above charity ("the Trust") for the year ended 28th February 2022.
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 Act").
I report in respect of our examination of the Trustee's accounts carried out under section 145 of the 2011 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 Statements
I have completed my examination and confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any materials respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in the report in order to enable a proper understanding of the accounts to be reached.
Sage & Thyme Kingsfield Smallways Lane Chilton Polden TA7 9EG
Jennifer Trethewey MAAT For and on behalf of Sage & Thyme
Dated: 10/06/2022
COSSINGTON VILLAGE HALL
BALANCE SHEET AS AT 28TH FEBRUARY 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| FIXED ASSETS | ||||
| Hall Redevelopment Costs Note 1 | ||||
| (including Furniture and equipment) | 151,870 | 151,870 | ||
| __ | __ | |||
| 151,870 | 151,870 | |||
| CURRENT ASSETS | ||||
| Bank and Cash Balances: | ||||
| General Fund | 41,782 | 24,622 | ||
| Bar Stock | 1,175 | 765 | ||
| ______ | ______ | |||
| 42,957 | 25,387 | |||
| __ | __ | |||
| 194,827 £ __ |
177,257 £ __ |
|||
| __ | __ | |||
| Represented By: | ||||
| FUNDS | ||||
| Unrestricted | 42,957 | 25,387 | ||
| Restricted and/or Designated | 151,870 | 151,870 | ||
| __ | __ | |||
| 194,827 £ __ __ |
177,257 £ _ _ |
These financial statements were approved on ________ by all the trustees and are signed on their behalf by:
Chair R H Taylor Treasurer J Turner
Note 1
A 'reinstatment valuation' of the hall and premises was carried out in January 2022 by surveyors acting for Allied Westminster Insurance. The valuation given was £1,416,667.
COSSINGTON VILLAGE HALL
SUMMARY OF THE FINANCIAL STATEMENTS As at 28th February 2022
| As at | 28th February 2022 | 2022 | 2021 | ||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| GENERAL FUND | |||||
| Receipts | 35,508 | 17,494 | |||
| Payments | (17,938) ______ |
(17,840) ______ |
|||
| 17,570 | (346) | ||||
| ______ | ______ | ||||
| ADD: | Balances as at 1st March 2021 | ||||
| HSBC Current | 1,307 | 1,155 | |||
| HSBC Money Manager | 23,165 | 24,644 | |||
| Bar Float | 150 | 150 | |||
| ______ | ______ | ||||
| 24,622 | 25,949 | ||||
| ______ | ______ | ||||
| 42,192 | 25,603 | ||||
| _ | |||||
| OTHER: | |||||
| Balances as at 1st March 2021 | |||||
| Bar Stocks | 765 | 736 | |||
| Acre Loan | - | (952) | |||
| ______ | ______ | ||||
| 765 | (216) | ||||
| __ | _ | ||||
| TOTAL FUNDS | 42,957 £ __ |
25,387 £ _ |
|||
| __ | _ | ||||
| REPRESENTED BY: | |||||
| Bank | Balance as at 28th February 2022 | ||||
| GENERAL FUND: | |||||
| HSBC | 2,114 | 1,307 | |||
| HSBC Money Manager | 39,668 | 23,165 | |||
| Cash Float | - | 150 | |||
| _____ | ______ | ||||
| 41,782 | 24,622 | ||||
| OTHER: | |||||
| Bar Stocks | 1,175 | 765 | |||
| ______ | ______ | ||||
| 1,175 | 765 | ||||
| __ | ______ | ||||
| 42,957 £ __ __ |
25,387 £ _ _ |
COSSINGTON VILLAGE HALL
INCOME AND EXPENDITURE FOR THE YEAR ENDED 28TH FEBRUARY 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| GENERAL FUND | ||
| RECEIPTS | ||
| Hall Hire | 11,274 | 4,078 |
| Feed in Tariff | 2,356 | 2,646 |
| Bar (Loss) / Profit | 981 | (381) |
| Grants | 20,894 | 11,130 |
| Bank Interest | 3 | 21 |
| ______ | ______ | |
| 35,508 | 17,494 | |
| ______ | ______ | |
| PAYMENTS | ||
| Electricity | 3,538 | 3,916 |
| Gas | 57 | 59 |
| Insurance | 1,736 | 1,574 |
| Water Rates | 320 | 244 |
| Telephone and Broadband | 572 | 593 |
| Cleaner's Salary | 1,508 | 1,746 |
| Cleaning Materials | 217 | 240 |
| Hall Maintenance | 1,893 | 4,633 |
| Electrical Maintenance | 4,681 | 2,884 |
| Garden Maintenance | 1,329 | 1,122 |
| Loan Interest | - | 6 |
| Bank Charges | 11 | - |
| Piano Tuner | 170 | - |
| Consumables | 391 | 278 |
| Professional Fees | 300 | - |
| Somerset Community Council | 100 | 100 |
| Performing Rights Society | 66 | (218) |
| Printing, Postage and Stationery | 68 | 46 |
| Advertisements | 75 | 75 |
| Sundry | 836 | 477 |
| Independent Examiners Fee | 70 | 65 |
| ______ | ______ | |
| 17,938 | 17,840 | |
| ______ | ______ | |
| (DEFICIT) / SURPLUS FOR THE YEAR | 17,570 ______ ______ |
(346) __ ____ |