DIGBY HALL AND LIBRARY REGISTERED CHARITY NUMBER: 275065 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 DARKIN MILLER UMITED CHARTERED ACCOUNTANT5 24E OEVEREL ROAO CHARLTON DOWN DORCHESTER DOR5Er
DIGBY HALL AND LIBRARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS PAGE Tw5tees' Report 34 Independent Examlner'5 Report Statement of Flnan¢lal Actlvltles Balance Sheet Notes to the Flnanclal Statements 8-10
DIGBY HALLANO LIBRARY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present thelr annual report and financial staternents of the Trust lor the year ended 31 March 2024. The financial statements have been prepared In accordance with the accounting policies set out in note I to the accounts and comply with the charittys trust deed, the Charitie5 Act 2011 and Accountin8 and Reporting by Charitie5' Statement of Recommended Prèctice applicable to charities preparing thelr accounts in accordance with the Financial Reportin8 standard applicable in the UK and Republlc of Ireland published on 16 July 2014. Oblertlvèsand •¢tlvltle5 for ihe publlc beneflt The Trust was created for the purpose of providln8 a Public Hall and Library lor the use and beneflt of 5herborne resident5. The Trust owns one property, the Digby Hall & Llbrary, which had an insured value of £4,672.613 (including fixtures and fittings) at 31 March 2024. The Trustees confirm that they have referred to the 8uidance Contalned In the Charlty Cornmi5sion's general guidance on publlc benelit when reviewing the Trust'5 aim5 and oblectSves. Grant rnaklni polky The Trust awards no grants. Indurtlon and tra1n1 of trustee5 Sherborne Town Councll Is the 501e Tru5ree. Athlevemtnt and perform4D¢e Durin6 the year the Trust tontlnued to provlde a Publlc Hall and tibfary for the beneflt of Sherborne ResSdents. Flnancbol Rovlew Income 8enerated lor the year amounted to £59,141 12023: £79,47SI. Thi5 compr55ed £43.298 rental Income,. £8,286 car park Income., grant5 from the The Slmon Digby Isherbornel Memor5al Trust totalllng £4.800,' and bank Interest and rnlscellaneous Items whlch amounted to £2.758. Expenditure lor the year arnounted to £67,56512023.. £68,320). The Balance Sheet at 31 March 2024 Sho reserves of E5,02712023.. £13,451>. Investment pollcy ind performance The Trust has modest reserves suffiilent to cover mlnor Improvements or the renewal of equlpment. Fund5 are held in current and deposit accounts, with priority 8iven to security of capltal and Ilquldity of funds over the return received. Rlth man•iernent The major risks that the charity 15 exposed io have been 5dentlfled and revlewed by the trustees and procedure5 estab1I5hed to manage this risk. The maln flnancial rlsk fated by the charl¢y15 that ol falling revenues, and unexpetted malntenance cost5, both of whlch are related to the condltlon of the bullding. Reserves pollcy Spec6fic reserve5 are held Dnly for the provlsion of improvements or the renEwal of equlpment provSded for the faclllty, and such reserves are reviewed conilnuously. The Town Council. as Trustee, maintained a buildln8 & property reserve. but the fvnds have been spent on the planned refurblshment works. Strnaure. 8overnance and mana8ement The Trust is an unincorporated trust, constituted under a trust deed dated 13th January 1978 andls a registered charity number 275065. The Trust wa5 established between Mr K S D Wingfield Digby (Mr Digbyl- G F Pinney and D M J Dear., and the Sherbome Town Council. Sherborne Town Councll Is the sole Trustee. Trust business is discussed and decisions mlnuted as part of each Town Councll meeting.
DIGBY HALL AND LIBRARY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Reference and admlnhtratl¥e Informallon Trustee Sherbome Town Cijuncil Clerk Mr Stephen Shleld Prlndpal Offite Address.. Manor House. Newland, Sherbome, Dorset. DT9 3JL Charity Number: 275065 Extern•l Emamlners Darkin Mlller Llmlted, 24e Deverel Road, Charhon Down, DT2 9UD Trnrtee$' responslbllltles In relatlon to the financlal 5t•t•monts The charlty trusiee 15 re5ponslble for preparln8 a trustee's anTrual report and financial statements in accordance wlth applicable law and United Kin8dom Accountin8 Standards Iunited Kingdom Generally Accepted Accountln6 Pr•ctlcel. The law appllcable to charltles In En8laThd and Wales requlres the charlty trustees to prepartr finjncial Statements for each year which glve a irue and fair view of the state ol affairs of the charlty and ol the incomln8 resources and application ol resource5. of the charity for that period. In preparln8 the Ilnancial statements, the tru5tee5 are required to.. Select suitable accounting policies and then apply them conslstentlyj observe the methoés and printiples in the applicable Charltle5 SORP,. makelud8ements and estlmates that are reasonable and prudent., state whether applicable accounting standards have been followed. sublect to any materlal departure5 that must be dlsclosed and explalned In the fSnanclal statements.. prepare the flnanclal statements on the goln¥ concern b)sls unle55 It 15 InapproprSate to presume that the chadty wlll tontinue In buslness. The trustees are respon51ble for keeplng proper accountln8 retords that dlsclose with reasonable accuracy at any time the flnanclal p051tlon of the charity and to enable them to ensure that the financial statements comply w5th the Chèrltles Act 2011, the appllcable CharitiES IAccounts and Reports) ReBulatlons, and the provisions of the Trust deed. They are also responsible lor 5afe8uardlng the assets Df the charlty and takln8 reasonable steps for the prevent1on and detett5on of fraud and other Irre8ular5tles. The trustees are responsible for the maintenance ond Integrlty of the charlty and flnanclal information Included on the charity's webslre In actordance wlth leglslatlon In the United Klngdom ¥overning the preparatlon and dissemlnatlon of finantial statements. SI8ned- Si8ned.. Lwg Trustee Jll W8 Trustee rton
DIGBY HALL & LIBRARY INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OFTHE DIGBY HALLAND LIBRARY I report to the trustees on my examination of the accounts of the Di8by Hall and Llbrary Ithe Trust) for the year ended 31 March 2024. Responslblllties and basls of r•port As the charlty trustees of the Trust you are responsible for the preparatlon of the accounts In accordance with the requirements of the Charities Act 20111'the Act'l. I report In respect of my examlnatlon of the Trust's accounts carrfed Dut under sectlon 145 of the 2011 Act and In carryin8 Out my examination I have followed all the applicable Directlon5 given by the Charlty Commlsslon under sectlon 145lSllbl of the Act. IndeNd•t examln•rfs statement I have completed my examlnatlon. I conflrm that no materlal matters have come to my attenti¢)n in tonnedSon wlth the examination givlng me cause to believe that In any material respect.. l. accountlng records were not kept In respect of the Trust as requifed by section 130 of the Act; or 2. the account5 do not a¢¢ord wlth those record5,' or 3. the accounts do not comply with the applicable requlrements concernlng the fofm and content of accounts set out In the CharStles IAccounts and Report51 Re8ulatlons 2008 other than any requirement that the accounts Bive a 'true and fair vlew whlch Is not a matter considered as part of an Independent examlnatlon. I have no concerns and have comè afrc*ss no othei matters In ronnectlon wlth the examlnatlon to whlch attentlon should bè drawn in thls report In order tg enable a proper understandlng of the accounts to be Slgned.. Name.. Rosle Darkin-mlller LL8 (Hon51 BFP FCA Instltute ol the Chartered Accountants In England and Wales 24e Deverel Road, Charlton Down, Dor¢hester, Dorset DT2 9UD Address.. Date..
DIGBY HALL AND LIBRARY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDIN6 31 MARCH 2024 Totsl fvnds 2024 Total funds 2023 Income •nd •ndo¥m)ènts from.. Hlre Charges Car Parking Income Car Park Rents Llbrary Char8es Grants Bank Interest 43,298 7,056 1.230 2,676 4,800 82 31,159 8,Ck)7 1.747 808 37.700 54 Total Incom• 59,141 79,475 Expendlture on: Wa8es and Salarles Maintenance and Supplle5 Servlces Admlnlstratlon. Ll¢ences and other Prolesslonal Car Park Operatlng Costs Refurbishment costs Provlslon for bad debt 14,526 25,308 16,347 6,146 5,135 30.019 19,051 13,431 5,536 33 102 250 Total eMp•ndltur• 67,565 68,320 N•t Incomell•xp•hdlturel 11,155 Transfers between funds Oth•r recognls•d 8aln5111055es) Net movement In funds 8,424 11,155 Re¢ondl•tlon of lunds: Total Funds brought forward 13,451 5.027 2,296 13A51 Total Funds carrled forward
DIGBY HALL AND LIBRARY BALANCE SHEET AS AT 31 MARCH 2024 Total funds 2024 Total funds 2023 Flyed assets Flxtures, fittin8s and equlpment Total flx8d ass•ts Current assèts Debtors and prepayments VAT Cash at bank and In hand 12,322 500 4,498 6,177 iii 29,851 Total current a5$9ts 17,319 36,139 Llabllltl•s Credltors.. Arnounts fallln8 due within one year Trade Credltors Receipts in Advance Accruals 9,959 1,134 1,199 20.132 1,4SI I,ios Total current Ilabllllle5 12,292 N•t curr•nt •ssets or Ilabllltl•s 5,027 Total assets less current IlabllSt S.027 13051 The funds of th• £h•rlty. Unrestricted funds Total charlty funds S,027 5ffj27 13,451 13A51 All fund5 held by the Trust are Unrestrirted. The Trust holds no Restrlcted or Endowment Funds. The notes at pa8es 8 to 10 form part of these accounts. Approved by the Trustees on .-.. nd slgned on thÈlr behalf bv.. Robin Legg Trustee rbourton Trust
DIGBY HALL AND LIBRARY FII4ANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS l. Accounting Polide5 al Bas15 of pr•paratlon and assessment of golnÉ con1 The atcounts (financial statements) have been prepared under the hlstorlcal c05t conventlon wlth items reco8nised at cost or transaction value ¥nle5S Othetwise stated in the relevant notelsl to these accounts. The flnancial statements have been prepared In accordance wlth the Statement of Recommended Practice.. Accountlng and Reporting by Charities preparlng their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republlc of Irelantj IFRS 1021 issued on 16 July 2014 and the Flnancial Reportlng Standard applicable in the Unlted Kin8dorn and Aepublic of Ireland IFRS 1021 and the Charities Art 2011. The trust constltutes a publ1¢ benefit entity as defined by FAS 102. The trustees conslder that there are no material uncertalnties about the Trust's ability to contlnue as a golng c¢)ncern. bl Fund5 Structur• All funds held by the Trust are Unrestrlcted. The Trust holds no Re5trlcted or Endowment Funds. cl Incom• re¢ognltlon All Incomlng resource5 are reco6nised once the charlty has entitlernent to the resources, It Is certaln that the resources will be received and the monetary value of Incomln8 resources can be measured wlth sufficient reliablllty. Grants or Oonations are recognised when recelved. Interest on funds held cn deposlt Is Included when recelved. dl Exp•ndlture rècoBnltlon Liabilities are recoBnlsed as expendlture as s¢)on as there Is a legal or constructlve obli8ation commlttln8 the charlty to that expendlture. It is probable that settlement will be requlred and the amount of the obll8atlon can be measured rellably. All expendlture Is accounted for on an accruals basls. All expenses includlng support costs and governance costs are allocated or apportioned to the applltable expenditure headin85. For more Information on thSs attrlbution reler to ngte If) below. el IrrecoveTabl• VAT Irrecoverable VAT is chaiged 38ain5t the expendlture headSng for whith st was incurred. fj Go¥•rnance costs Govemance costs comprlse all costs involwing the public accountablllty of the charlty and its compliance with regulativn and Rood practice. These costs Include ¢osts related to external examinatlons. gl ft*alised Kalns and ID55es All Bains and losses are taken to the Statement of Financlal Activities as they arise. Reali5ed gains and losses on investments are talculated as the difference between sales proceeds and thelr opening carrying valve or their purchase value If acqulred subsequent to the first day of the flnancial year. Unrealised gains and105se5 are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
DIGBY HALL AND LIBRARY FINANCIAL STATEMETrifs FOR THE YEAR ENDED 31 MARCH 2D24 NOTE5 TO THE FINANCIAL STATEMENT5 h) Flx*d assets The Trust owns one property. the Di8by Hall & Library, which had an Insured value ol £4.672,613 at 31st March 2024. The Charlty SORP requires that donated assets are reco8nlsed within the attounts when the resource is controlled by the charity, it is probably that empected future economic benefits wlll flow to the charlty, and the hlstorical Cost or fair value ran be measured. Whilst the Trust expects to benefit trom Income derived from the hiie of the buildin8, It Is expected that any income will just cover the runnin8 Costs, allowln8 the Trust to break even. In additlon, the property is subject to restrlctive covenant which reduces the market value to Enll. As such, no rnonetary value is reco8nised wlthin the accounts. Fixtures, filtlngs and eqvlpment are depretiated In full In the year of acquisition. 11 Debtgr5 Debtors are measured at thelr recoverable amounts. 11 Cash at b•nk and In hand Cash at bank and In hand consist5 entlrely of cash balance5 held wlth the Trust's bankers. kl Credltorj Credltors are measured at the amount required to settle the Ilablllty. 2 Inv4stm•nt Incom• 2024 2023 Deposlt Interest received 82 All of the Investment income Is attributable to unrestrlcted fund5. 3 An•tys1s ol •xpendltur• on charStible •ctlvllles and support Costs Support and 4ovèrnan¢• costs 2024 2023 Artlvlty Total Total Independent examiner 278 278 278 278 279 279 4 EmolumÈnts and staff c05t5 The Trust has no employees. A full tlme taretaker and a part time caretaker are employed bv Sherborne Town Coun¢il, and the cost of thls 15 relmbur5ed by ihE Trust. Lettln8, 3c¢ountln& maintenance and general supervlslon are performed by Sherborne Town Councll staff. For this servlte the Trust pays a flxed contribution, currently £5,0 p.a.
DIGBY HALLAND LIBRARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS 5 Analysls of fixed assets Flxtures. flttlngs and equlpmènt 2024 Flxture5, fSttln8S and equipment 2023 Cost Al l April 2023 Additions At 31 March 2024 424.325 424,325 424.325 424,325 O•preclatlon At l April 2023 Charge for year At 31 March 2024 424.325 424,325 424.325 424,325 Net Book Value 6 Analysls ol charltable funds Fund n•n Fund bal4n¢•• brouqht lorward G•ln• •nd Fund bwhnc•• carrl•d lorw•rd In¢om• Exp•ndlturn Unrestrlcted funds 13,451 59.141 The unrestrScted funds are avallable to be spent for any purposes of the charlty. 7 Related Party Transactlons Sherborne Town Councll Is the sole Tiustee. The Countll ernploys two caretakers who look after the Hall, the costs of whom are relmbursed by the frust. The Town Councll also rechaf8es the actual cost of good5 and 5ervlces ordered on behalf of the Trust. The Trust pays a Ilxed contrlbutlon of £5,fMIO. p.a. in relatlon to other staff servlces prded by the Town Council. Wlth effect from November 2022, the value lo relmbuse for the costs of the two caretakèrs ha5 been reduced by SO%. Sherborne Town Councll provSded no grant fundin8 durlng the year12023 £nill. The Slmon Dlgby Isherbornel Memorl?l Trvst wa5 set up in 1989 with an oblectlve 'io benellt the inhabitants of the Town of Sherborne, The Settlor's wlshes were that the mottles would be devoted to the malntenan¢e and improvement of the Oi8by Hall, and the Terrace Playing Fleld. The Trust Made grant5 totalllng £4.80012023= £37,7¢xII durln8 the year to 5UPPOrt the runnlng of the Di8by Hall. All transactions wlth organlsations to which Counclllors belon& or are as50clated wlth in any way, are conducted at arm's length. 10