## **COSSINGTON VILLAGE HALL**
## **CHARITY NO: 273050**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 28TH FEBRUARY 2023**
**INCOME AND EXPENDITURE BASIS**
**with**
**INDEPENDENT EXAMINER'S REPORT**
**COSSINGTON VILLAGE HALL**
**FOR THE YEAR ENDED 28TH FEBRUARY 2023**
## **CONTENTS**
## Page
- 1 & 2 Trustees' Annual Report 3 Managing Committee Members
- 4 Independent Examiners Report
- 5 Balance Sheet
- 6 Summary of the Financial Statements
- 7 Income and Expenditure Account - General Fund
## **COSSINGTON VILLAGE HALL**
## **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 28TH FEBRUARY 2023**
The Managing Trustees' present their Report for the year ended 28th February 2023 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
2022 – 2023 was to all intents and purposes a “normal” year but who is to say what is “normal” these days ? It is difficult to compare this year with pre-lockdown years as circumstances are not quite as they were.
Suffice to say, this year we have generated a small excess of income over expenditure, despite the fact that some of the Hall’s fixtures and fittings, all installed at the same time when the Hall was built, seem to be needing repair at the same time. The heating system still has problems.
Hire fees are up on last year’s £11,274 to £14,567 and hire fees are being monitored to make sure they are competitive. The bar makes a good profit (£2,884) even though we try and keep the charges down. The solar panels have brought in £2,583, a small increase on last year. We no longer have to rely on various Covid-related grants.
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## **COSSINGTON VILLAGE HALL**
## **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 28TH FEBRUARY 2023 CONTINUED**
As can be expected, payments are also increased but this is an overall increase, no one factor is responsible. The accounts show small increases on most items. The large increase in advertising was down to the cost of having a new website created. Expenditure on events is costs incurred celebrating the Jubilee.
Our bank balances remain healthy and will hopefully enable us to cope with whatever this year brings.
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**COSSINGTON VILLAGE HALL**
## **MANAGING COMMITTEE MEMBERS AS AT 28TH FEBRUARY 2023**
Chair 'Vacant' Elected Vice Chair 'Vacant' Elected Secretary C N Watson Elected Treasurer K Brown Elected D Bloodworth Elected K Cooper Elected T Lind Elected P Moore Elected Representative Members D Greatorex 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
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**COSSINGTON VILLAGE HALL**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COSSINGTON VILLAGE HALL FOR THE YEAR ENDED 28TH FEBRUARY 2023**
I report to the trusteed on my examination of the accounts of above charity ("the Trust") for the year ended 28th February 2023.
## 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:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- 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: 20th June 2023
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## **COSSINGTON VILLAGE HALL**
## **BALANCE SHEET AS AT 28TH FEBRUARY 2023**
||**2023**||2022||
|---|---|---|---|---|
||**£**|**£**|£|£|
|**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|**42,309**||41,782||
|Bar Stock|**1,774**||1,175||
||**______**||______||
|||**44,083**||42,957|
||**________**||________||
||**195,953**
**£**
**________**||194,827
£
________||
||**________**||________||
|Represented By:|||||
|**FUNDS**|||||
|Unrestricted||**44,083**||42,957|
|Restricted and/or Designated||**151,870**||151,870|
||**________**||________||
||**195,953**
**£**
**________**
**________**||194,827
£
________
________||
These financial statements were approved on __________________________ by all the trustees and are signed on their behalf by:
Chair 'Vacant' Treasurer K Brown
## 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.
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**COSSINGTON VILLAGE HALL**
## **SUMMARY OF THE FINANCIAL STATEMENTS As at 28th February 2023**
|||**2023**||2022||
|---|---|---|---|---|---|
|||**£**|**£**|£|£|
|GENERAL FUND||||||
||Receipts|**20,549**||35,508||
||Payments|**(19,423)**
**______**||(17,938)
______||
|||**1,126**||17,570||
|||**______**||______||
|ADD:|Balances as at 1st March 2022|||||
||HSBC Current|**2,114**||1,307||
||HSBC Money Manager|**39,668**||23,165||
||Bar Float|**-**||150||
|||**______**||______||
|||**41,782**||24,622||
|||**______**||______||
||||**42,908**||42,192|
|||||_______||
|OTHER:||||||
||Balances as at 1st March 2022|||||
||Bar Stocks|**1,175**||765||
|||**______**||______||
||||**1,175**||765|
|||**________**||**_______**||
||**TOTAL FUNDS**|**44,083**
**£**
**________**||42,957
£
_______||
|||**________**||_______||
|**REPRESENTED BY:**||||||
|Bank|Balance as at 28th February 2023|||||
|GENERAL FUND:||||||
||HSBC|**2,578**||2,114||
||HSBC Money Manager|**39,731**
**_____**||39,668
______||
||||**42,309**||41,782|
|OTHER:||||||
||Bar Stocks|**1,774**||1,175||
|||**______**||**______**||
||||**1,774**||1,175|
|||**________**|||**______**|
|||**44,083**
**£**
**________**
**________**||42,957
£
_______
_______||
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**COSSINGTON VILLAGE HALL**
## **INCOME AND EXPENDITURE FOR THE YEAR ENDED 28TH FEBRUARY 2023**
|**GENERAL FUND**|||**2023**||2022|
|---|---|---|---|---|---|
||||**£**||£|
|RECEIPTS||||||
|Hall Hire|||**14,567**||11,274|
|Feed in Tariff|||**2,583**||2,356|
|Bar Profit||Note 1|**2,884**||981|
|Sale of Excess Furniture|||**80**|||
|Grants|||**360**||20,894|
|Donations|||**12**||-|
|Bank Interest|||**63**||3|
||||**______**||______|
||||**20,549**||35,508|
||||**______**||______|
|PAYMENTS||||||
|Electricity|||**3,113**||3,538|
|Gas|||**54**||57|
|Insurance|||**1,920**||1,736|
|Water Rates|||**509**||320|
|Telephone and Broadband|||**620**||572|
|Cleaner's Salary|||**2,093**||1,508|
|Cleaning Materials|||**394**||217|
|Hall Maintenance|||**2,069**||1,893|
|Electrical Maintenance|||**4,612**||4,681|
|Garden Maintenance|||**1,465**||1,329|
|Bank Charges|||**92**||11|
|Expenditure on Events|||**160**||-|
|Piano Tuner|||**155**||170|
|Consumables|||**54**||391|
|Professional Fees|||**-**||300|
|Somerset Community Council|||**100**||100|
|Performing Rights Society|||**151**||66|
|Printing, Postage and Stationery|||**63**||68|
|Advertisements|||**789**||75|
|Sundry|||**940**||836|
|Independent Examiners Fee|||**70**||70|
||||**______**||______|
||||**19,423**||17,938|
||||**______**||______|
|**SURPLUS FOR THE YEAR**|||**1,126**
**______**||17,570
______|
||||**______**||______|
|**Note 1:**||||||
|Bar Income|||7,866||2,869|
|Less: Cost of Goods Sold||||||
|Opening Stock||1,175||765||
|Purchases||4,833||2,007||
|Less Closing Stock||(1,774)||(1,175)||
|||______||______||
||GPM|46%|(4,234)|44%|(1,597)|
|Less Labour Costs|||(612)||(291)|
|Square Fees|||(136)|||
||||______||____|
|Profit / (Loss)|||2,884
______
______||981
____
____|
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