DIGBY HALL AND LIBRARY REGISTERED CHARITY NUMBER: 275065 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 DARKIN MILLER LIMITED CHARTERED ACCOUNTANTS 24E DEVEREL ROAD CHARLTON DOWN DORCHESTER DORSET DIGBY HALL AND LIBRARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONTErirs PAGE Trustees, Report 34 Independent EKamlner's Report Statement of Flnancial Actlvltbes Balance Sheet Notes to the Flnanclal Statement5 8-10 DIGBY HALL AND LIBRARY REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 MARCH 2025 The Trustees present their annual report and financial statements of the Trust for the year ended 31 March 2025. The financial statemènts have been prepared in accordance with the accounting policies set out in note I to the accounts and comply wilh the charitls trust deed, the Charitles Act 2011 and Accounting and Reporting bv Charities.. Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014. Objecli¥e5 and aCt[￿tIeS lorthe publlc benefft ThÈ Trust was created for the purpose of provlding a Pvblic Hall and Llbrary for the use and benefit of 5herborne resldents. The Trust owns one property, the Digby Hall & Llbrary. which had an insured value Of £4,672,613 Ilncludir$8fixturÈs ènd flttin8sI at 31 March 2025. The Trustees confirm that they have referred to the guidance contained in the Charlty Comrni551tsn's general 8uldance on public benefit when reviewin8 the Trust's aims and objectlves. Grant making polkv The Trust award5 no grants. Indurtlon and trzlnlnl of trustees SherbDrne Town Councll 15 thè sole Trustee. Achlqvem•nt •nd p•rFormant• Durln8 the year the Trust contlnued to provide a Public Hall and LSbrary farthe benefit of Sherborne ResSdents. FlnJNl•l Review Income 8enerated for the year amounted to £62.551 12024.. £59,141). Thls compr15ed £45,148 rental income., £17,362 car park income., 8rant5 from the The simon Dlgby Isherbornel Memorial Trust totalling £0,. and bank inierest and miscellaneotss items which amounted to £41. Expend5ture for the year arnounted to £73.77612024.' £67.5651. The Balance Sheet at 31 March 2025 shows reserve5 01-£6,19912024.. £5,027). Invéstmènt pollry and perh)rmanc• The Trust has rnodest reserves suff i¢lent to cover mlnor Improvement5 gr the renewal of equlprnent. Funds are held in current and deposlt accounts. with prlorlty 8Sven to securlty of capital and liquldlty of funds over the return received. Rlsk rnanagem•nt The major rlsks that the charlty Is exposed to have been identified and reviewed by the trustees and procedure5 established to mana8e this risk. The main flnancial rlsk faced by the charlty Is that of falllng revenues, and uThexpected malntenance costs, both of whlch are related to the condition of the bulldlng. ReseMs poll¢y Speclfic reserve5 are held only for the provision of Improvements or the renewal of equipment provided lor the facility. and such reserves are reviewed contlnuously. The Town Council, as Trustee, maintained a bulldlng & property reserve, but the fund5 have been spent on the planned refurblshment works. At the current year end reserves are In dèficit, however the Trust is stlll a going c{ncern as it 15 expected thatThe Slmon Digby Isherbornel Memorial Trust wlll provide 8rant monies to coTrtTibute towards running costs. There are also measures belng ¢on51dered by Sherborne Town Council to provide the Trust with more flnanclal support. Strurture, KovernanrR and mana8¢m•nt The Trust is an unincorporated trust, constituted under a trust deed dated 13th January 1978 and is a registered charity number 275065. The Trust was estabSished between Mr K S D Wingfield Digby (Mr Di8byl,. G F Pinney and D M J Dear. and the Sherborne Town Council. Sherborne Town Council is the sole Trustee. Trust bu5ine5s is dlscussed and decisions mlnuted as part of each Town Council rnÈeting. DIG8Y HALL AND IIBRARY REPORT OF ThE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Relerente and administr•tlve intorniatlon Trustee Sherborne Town Council aerk Mr stephén Shleld Pdncipal Office Address.. Manor House, Newland. Sherborne, Dorset, DT9 3JL Charity Nurnber.. 275065 External Exomln•rs Darkin Mlller Limited, 24e Devertl Road, Charlton Down, DT2 9UD Trust••s' responslbllltl•s In rèlatSon to the fin8ndal rt•tem•nts The charity trustee Is rèsponslble for preparing a trustee's annual report and flnanclal statements in accordance wilh appll£able law ané United Kingdom AccountirKq Standards Iunlted Kln8dom Generally Accepted Accountln8 Pract5cel. The law applicable io char5tles In En8land and Wales requlres the charity trustees to prepare flnanclal statements for each year whlch 8lve a true and falr vlew of the state of affair5 gf the charlty and ol the incomin8 resources and appllcatlon of resources, ol the charlty forthat period. In preparin8 the flnancial staternents, the tru5tee5 ale requlred io.. seleci sultable accountlng pollcies and then apply them consi5tentlv', observe the methods and prlnclples the app15cable CharitSes SORP.. make judgements and e5t5mates ihat are reasonable and prudent,. state whether app15cable account5ng standards have been followed. sublect to any matèrlal departures that must be dlsclosed and explained In the financial statements,, prepare the flnancial Statements on the going concern basis unless It Is Inapproprlate to presume that the charlty wlll contlnue In business. The trustees are responslble for keeplng proper accounting records that dlsclose with reasonable accuracy at any tlme the flnanclal posltlon of the charlty and to enable them to ensure that the flnancial staternents comply wtth the Charltles Act 2011, the applicable Charities (Account5 and Report51 Regulatlons, and the provlslons of thè Trust deed. They are also responsible lor safe8uardin8 the assets of the charlty and takin8 rea50nable steps for the preventSon and detection of fraud and other Irre8ularltle5. The trustees are respons5ble for the maintenance and Inte8rity of the chariry and fSnanclal inforrnatlon Included on the charity'5 webslte In accordance wlth le8islation Sn the Unlttd Kingdom 8oveming the preparation and dissemination of financial statements. Si8ned.. athrton Surogh Jegan ToJsl80 han Trus DIGBY HALL & LIBRARY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DIGBY HALL AND LIBRARY I report to the trustees on my examination of the accounts of the Digby Hall and Library (the TTUStI for the year ended 31 March 2025. ftesponslbllltles and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance wlth the requirements of the Charities Aci 20111'the ACYI. I report In respect of my eKaminatlon of the Trust's accounts carried out under 5ectlon 145 of the 2011 Act and In carrying out my examlnation I have followed all the applicable Dlrectlons glven by the Charity Commission under sectlon 1451511bl of the Att. Independent examlnerfs statement I have Completed my examlnatlon. I conflrm that no material matters have come to my attention in connectlon wlth the examlnatlon glvlng me cause to believe that in any material respeci: l. accounting records were not kept In respect of the Trust as required by secllon 130 of the Act; or 2. the accounts do not accord wlth those records,. or 3. the accounts do not comply with the applicable requlrements concerning the form and content of accounts set out In the Charities (Accounts and Reportsl Regulations 2008 other than any requbrement that the accounts glve 8 'true and falr vlew whlch is not a matter considered as part of an Independent examinatlon. I have no concerns and have come across no other matters In connectlon wbth the examlnation to whlch attentlon should be drawn in thls report In order to enable a proper understandln8 of the accounts to be Sl8ned.. Name.. Rosie Darkin-mlller LL8 (Honsl BFP FCA Institute of the Chartered Accountants in England and Wales 24e Deverel Road, Charlton Down, Dorchester, Dorset OT2 9UD Address.. Date.. DIGBY HALL AND LIBRARY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 MARCH 2025 Total funds 2025 Total funds 20Z4 Income and endowment5 from: Hire Charge5 Car Parkin8 Income Car Park Rents Library Charges Grants Bank Interest 45,148 16,145 1,217 43,298 7,056 1,230 2,676 4,8 39 82 Totsl Income 62,551 59,141 Expendlture on: Wèges and Salarles Malntenance and Supplies Servlces Admlnistiation, Llcence5 and other Professlonal Car Park Operating C05t5 Provlslon for bad debt 18,419 17,787 28,831 6,159 2,478 102 14,526 25,308 16,347 6,146 5,135 102 Totsl expendlture 73,776 67,565 Net Incomellexpendlturel 111,2261 18,4241 Transfers between funds Other reco8nlsed 8•lns/l1055esl Net movement In funds 11,2261 18,4241 Rewnclllatlon of funds: Total Funds biou8ht forward 5,027 16,1991 13,451 5,027 Totsl Funds carrled forward DIGBY HALL AND LIBRARY BALANCE SHEET AS AT 31 MARCH 2025 Total funds 2025 Total funds 2024 Hxed assets Fixture5, fittings and equlpment Total flxed assets Current assets Debtors and prepayments VAT Cash at bank and In hand 11.171 1,277 8,683 12,322 500 4,498 Totsl current assets 21,131 17,319 Uabllltles Creditors: Amounts falling due wfthln one year Trade Credltors Receipts in Advance Accrua15 23,479 1,563 2,288 9,959 1,134 1,199 Totsl current IlabSlltle5 27,329 12,292 Net current assets or Ilabllltles 16,1991 5,027 Tolal assets l•sx current Ilablllte$ 16,1991 5,027 The funds of the charlty: Unrestricted funds Total charlty fvnd$ 16,1991 6.1991 5,027 5,027 All funds held by the Trust are Unrestrlcted. The Trust holds no Restrlcted or Endowment Funds. The note5 at page5 8 to 10 form part of these accounts. Approved by the Trustees on and signed on their behalf bv.. lillwarb Trustee rton Suresh Jeganathan Trustee DIGBY HALL AND LIBRARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS A¢¢ounting Polldes al Basls of preparation and a$se55ment of 8oln8 concern The accounts Ifinancial statements) have been prepared under the historical cost conventlon with items recoBnised at cost or transaction value unless otherwise stated in the relevant notelsl to these accounts. The financial statements have been prepared In atcordance with the Statement of Recommended Practice= Accounting and Reportin8 by Charltles preparing their accounts in accordance with the Flnanclal Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republlc of Ireland IFRS 1021 and the Charlties Act 2011. The trust constitutes a publlc benefit entrty a5 defined by FRS 102, The trustees conslder that there are no material uncertaintles about the Trust'5 ablllty to continue as a goln8 concern. bl Funds structure All funds held by the Trust are Unrestrlcted. The Trust holds no Restricted or Endowment Funds. cl Income re¢ognitlon All Incomlng resources are recognlsed once the charlty has entltlemenl to the resources, It 15 certaln that the resources wlll be recelved and the monetary value of incomln8 resources can be measured wlth sufflcient reliablllty. Grants or Donations are recognised when recelved. Interest on funds held on deposit Is Included when received. d) Expendlture rewgnltlon Liabilities are retognised as expendlture as soon as there Is a legal or constructive obligation commlttlng the charity lo that expenditure, It 15 probable that settlement will be required and the amount of the obllgation can be measured rellably. All expenditure Is accounted for on an accruals ba515. All expenses Including support costs and governance cost5 are allocated or apportioned to the applicable expenditure headings. For more Informatlon on this attribution refer to note If) below. el Irrecoverable VAT Irrecoverable VAT Is charged against the expenditure heading for which It was incurred. Governance costs Governance costs comprise all costs involving the public accountability of the charity and its compliance with ￿gUlatiOn and good prartice. These costs include costs related to external examinations. 81 Realised 8ain5 and losses All gains and losses are taken to the Statement of Financial Activities as they arise. Reallsed Eains and 1055e5 on Investments are calculated as the difference between sale5 proceeds and thelr opening carrying value or their purchase value if a¢qtAired subsequent to the flrst day of the financial year. Unrealised gains and losses 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 Activitie5. DIGBY HALL AND LIBRARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS h) Hxed assets The Trust owns one property, the Digby Hall & Llbrary, whlch had an insured value of £4,672,613 at 31st March 2025. The Charlty SORP requires that donated assets are recognised within the accounts when the resource is controlled by the charity, It is probably that expected future economlc benefits will flow to the chartty, and the hi5torlcal cost or fair value tan be measured. Whilst the Trust expects to benefit from income derived from the hire of the building, it 15 expected that any income will jLtst cover the runnlng costs, allowing the Trust to break even. In addition. the property is subject to restrictive covenant which reduces the market value to £nll. A5 such. no monetary value is recogni5ed within the accounts. Fixture5, fittings and equlpment are depreclated in full In the year of acquisition. l) Debtors Debtors are measured at their recoverable amount5. 11 Cash at bank •nd In hand Cash at bank and in hand conslsts entlrely of cash balances held wlth the Trust's bankers. kl Credltors Credltors are measured at the amount required to settle the liability. 2 Investment Income 2025 2024 Dep051t Interest recelved 39 82 All of the Investment income Is attributable to unrestrlcted fund5. 3 Analysls of expendlture on charbtable actlvltles and support Costs Support and governance ￿$tS 2025 2024 A¢tlvlty Totol Totsl Independent examlner 499 499 499 279 279 499 4 Emolument$ and staff costs The Trust has no employees. A full time caretaker and a part time caretaker are employed bv Sherborne Town Councll, and the cost of this is Telmbursed by the Trust. Lettin& accountin maintenance and Beneral supervision are performed by 5herborne Town Councll staff. For this service the Trust pays a fixed contributlon, currently £5,OOQ p.a. DIGBY HALL AND LIBRARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS 5 Analysis of fixed assets Flxtures, flttSn8s and equlpment 2025 Flxtures, fittings and equlpment 2024 Cost At l April 2024 Additions Al 31 March 2025 424,325 424,325 424,325 424,325 Depreclatlon At l April 2024 Charge for year At 31 March 2025 424,325 424,325 424,325 424,325 Net Book Value 6 Aftaly515 of Charltable funds Fund nam• Fund balanco• biought fo￿1rd Fund b•lanc•8 carrfod lorwurd G•ln• nd {loss•$l Incom• Exp•ndltur• Unre5trlcted funds 5 027 62,551 73,776 16,1991 The unrestrlcted funds are available to be Spent for any purposes of the charlty. 7 Rèlated Party Transactlons 5herborne Town Council is the sole Trustee. The Council employs two caretakers who look after the Hall, the costs of whom are rebmbursed by the Trust. The Town Council also recharges the actual cost of 8oods and services ordered on behalf of the Trust. The Trust pays a flxed contribution of £5,000.00 p.a. In relatlon to other staff services provided by the Town Council. With effect from November 2022, the value to relmbuse for the costs of the two caretakers has been reduced by 50%. Sherborne Town Council provlded no grant funding during the year12024 £nill. The Simon Digby Isherbornel Memorial Trust was set up In 1989 wlth an oblectlve 'to benefit the Inhabitants of the Town of Sherborne,. The Settlor'5 wlshes were that the monles would be devoted to the malntenance and improvement of the Digby Hall, and the Terrace Playing Fleld. The Trust made grants totalling £nil12024 - £4,800) durlng the year to support the wnning of the Dr8by Hall. All transactions with organisations to which Councillor5 belong, or are assoclated wlth in any way, are conducted at arm's length. 10 DIGBY HALL AND LIBRARY REGISTERED CHARITY NUMBER: 275065 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 DARKIN MILLER LIMITED CHARTERED ACCOUNTANTS 24E DEVEREL ROAD CHARLTON DOWN DORCHESTER DORSET DIGBY HALL AND LIBRARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONTErirs PAGE Trustees, Report 34 Independent EKamlner's Report Statement of Flnancial Actlvltbes Balance Sheet Notes to the Flnanclal Statement5 8-10 DIGBY HALL AND LIBRARY REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 MARCH 2025 The Trustees present their annual report and financial statements of the Trust for the year ended 31 March 2025. The financial statemènts have been prepared in accordance with the accounting policies set out in note I to the accounts and comply wilh the charitls trust deed, the Charitles Act 2011 and Accounting and Reporting bv Charities.. Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014. Objecli¥e5 and aCt[￿tIeS lorthe publlc benefft ThÈ Trust was created for the purpose of provlding a Pvblic Hall and Llbrary for the use and benefit of 5herborne resldents. The Trust owns one property, the Digby Hall & Llbrary. which had an insured value Of £4,672,613 Ilncludir$8fixturÈs ènd flttin8sI at 31 March 2025. The Trustees confirm that they have referred to the guidance contained in the Charlty Comrni551tsn's general 8uldance on public benefit when reviewin8 the Trust's aims and objectlves. Grant making polkv The Trust award5 no grants. Indurtlon and trzlnlnl of trustees SherbDrne Town Councll 15 thè sole Trustee. Achlqvem•nt •nd p•rFormant• Durln8 the year the Trust contlnued to provide a Public Hall and LSbrary farthe benefit of Sherborne ResSdents. FlnJNl•l Review Income 8enerated for the year amounted to £62.551 12024.. £59,141). Thls compr15ed £45,148 rental income., £17,362 car park income., 8rant5 from the The simon Dlgby Isherbornel Memorial Trust totalling £0,. and bank inierest and miscellaneotss items which amounted to £41. Expend5ture for the year arnounted to £73.77612024.' £67.5651. The Balance Sheet at 31 March 2025 shows reserve5 01-£6,19912024.. £5,027). Invéstmènt pollry and perh)rmanc• The Trust has rnodest reserves suff i¢lent to cover mlnor Improvement5 gr the renewal of equlprnent. Funds are held in current and deposlt accounts. with prlorlty 8Sven to securlty of capital and liquldlty of funds over the return received. Rlsk rnanagem•nt The major rlsks that the charlty Is exposed to have been identified and reviewed by the trustees and procedure5 established to mana8e this risk. The main flnancial rlsk faced by the charlty Is that of falllng revenues, and uThexpected malntenance costs, both of whlch are related to the condition of the bulldlng. ReseMs poll¢y Speclfic reserve5 are held only for the provision of Improvements or the renewal of equipment provided lor the facility. and such reserves are reviewed contlnuously. The Town Council, as Trustee, maintained a bulldlng & property reserve, but the fund5 have been spent on the planned refurblshment works. At the current year end reserves are In dèficit, however the Trust is stlll a going c{ncern as it 15 expected thatThe Slmon Digby Isherbornel Memorial Trust wlll provide 8rant monies to coTrtTibute towards running costs. There are also measures belng ¢on51dered by Sherborne Town Council to provide the Trust with more flnanclal support. Strurture, KovernanrR and mana8¢m•nt The Trust is an unincorporated trust, constituted under a trust deed dated 13th January 1978 and is a registered charity number 275065. The Trust was estabSished between Mr K S D Wingfield Digby (Mr Di8byl,. G F Pinney and D M J Dear. and the Sherborne Town Council. Sherborne Town Council is the sole Trustee. Trust bu5ine5s is dlscussed and decisions mlnuted as part of each Town Council rnÈeting. DIG8Y HALL AND IIBRARY REPORT OF ThE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Relerente and administr•tlve intorniatlon Trustee Sherborne Town Council aerk Mr stephén Shleld Pdncipal Office Address.. Manor House, Newland. Sherborne, Dorset, DT9 3JL Charity Nurnber.. 275065 External Exomln•rs Darkin Mlller Limited, 24e Devertl Road, Charlton Down, DT2 9UD Trust••s' responslbllltl•s In rèlatSon to the fin8ndal rt•tem•nts The charity trustee Is rèsponslble for preparing a trustee's annual report and flnanclal statements in accordance wilh appll£able law ané United Kingdom AccountirKq Standards Iunlted Kln8dom Generally Accepted Accountln8 Pract5cel. The law applicable io char5tles In En8land and Wales requlres the charity trustees to prepare flnanclal statements for each year whlch 8lve a true and falr vlew of the state of affair5 gf the charlty and ol the incomin8 resources and appllcatlon of resources, ol the charlty forthat period. In preparin8 the flnancial staternents, the tru5tee5 ale requlred io.. seleci sultable accountlng pollcies and then apply them consi5tentlv', observe the methods and prlnclples the app15cable CharitSes SORP.. make judgements and e5t5mates ihat are reasonable and prudent,. state whether app15cable account5ng standards have been followed. sublect to any matèrlal departures that must be dlsclosed and explained In the financial statements,, prepare the flnancial Statements on the going concern basis unless It Is Inapproprlate to presume that the charlty wlll contlnue In business. The trustees are responslble for keeplng proper accounting records that dlsclose with reasonable accuracy at any tlme the flnanclal posltlon of the charlty and to enable them to ensure that the flnancial staternents comply wtth the Charltles Act 2011, the applicable Charities (Account5 and Report51 Regulatlons, and the provlslons of thè Trust deed. They are also responsible lor safe8uardin8 the assets of the charlty and takin8 rea50nable steps for the preventSon and detection of fraud and other Irre8ularltle5. The trustees are respons5ble for the maintenance and Inte8rity of the chariry and fSnanclal inforrnatlon Included on the charity'5 webslte In accordance wlth le8islation Sn the Unlttd Kingdom 8oveming the preparation and dissemination of financial statements. Si8ned.. athrton Surogh Jegan ToJsl80 han Trus DIGBY HALL & LIBRARY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DIGBY HALL AND LIBRARY I report to the trustees on my examination of the accounts of the Digby Hall and Library (the TTUStI for the year ended 31 March 2025. ftesponslbllltles and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance wlth the requirements of the Charities Aci 20111'the ACYI. I report In respect of my eKaminatlon of the Trust's accounts carried out under 5ectlon 145 of the 2011 Act and In carrying out my examlnation I have followed all the applicable Dlrectlons glven by the Charity Commission under sectlon 1451511bl of the Att. Independent examlnerfs statement I have Completed my examlnatlon. I conflrm that no material matters have come to my attention in connectlon wlth the examlnatlon glvlng me cause to believe that in any material respeci: l. accounting records were not kept In respect of the Trust as required by secllon 130 of the Act; or 2. the accounts do not accord wlth those records,. or 3. the accounts do not comply with the applicable requlrements concerning the form and content of accounts set out In the Charities (Accounts and Reportsl Regulations 2008 other than any requbrement that the accounts glve 8 'true and falr vlew whlch is not a matter considered as part of an Independent examinatlon. I have no concerns and have come across no other matters In connectlon wbth the examlnation to whlch attentlon should be drawn in thls report In order to enable a proper understandln8 of the accounts to be Sl8ned.. Name.. Rosie Darkin-mlller LL8 (Honsl BFP FCA Institute of the Chartered Accountants in England and Wales 24e Deverel Road, Charlton Down, Dorchester, Dorset OT2 9UD Address.. Date.. DIGBY HALL AND LIBRARY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 MARCH 2025 Total funds 2025 Total funds 20Z4 Income and endowment5 from: Hire Charge5 Car Parkin8 Income Car Park Rents Library Charges Grants Bank Interest 45,148 16,145 1,217 43,298 7,056 1,230 2,676 4,8 39 82 Totsl Income 62,551 59,141 Expendlture on: Wèges and Salarles Malntenance and Supplies Servlces Admlnistiation, Llcence5 and other Professlonal Car Park Operating C05t5 Provlslon for bad debt 18,419 17,787 28,831 6,159 2,478 102 14,526 25,308 16,347 6,146 5,135 102 Totsl expendlture 73,776 67,565 Net Incomellexpendlturel 111,2261 18,4241 Transfers between funds Other reco8nlsed 8•lns/l1055esl Net movement In funds 11,2261 18,4241 Rewnclllatlon of funds: Total Funds biou8ht forward 5,027 16,1991 13,451 5,027 Totsl Funds carrled forward DIGBY HALL AND LIBRARY BALANCE SHEET AS AT 31 MARCH 2025 Total funds 2025 Total funds 2024 Hxed assets Fixture5, fittings and equlpment Total flxed assets Current assets Debtors and prepayments VAT Cash at bank and In hand 11.171 1,277 8,683 12,322 500 4,498 Totsl current assets 21,131 17,319 Uabllltles Creditors: Amounts falling due wfthln one year Trade Credltors Receipts in Advance Accrua15 23,479 1,563 2,288 9,959 1,134 1,199 Totsl current IlabSlltle5 27,329 12,292 Net current assets or Ilabllltles 16,1991 5,027 Tolal assets l•sx current Ilablllte$ 16,1991 5,027 The funds of the charlty: Unrestricted funds Total charlty fvnd$ 16,1991 6.1991 5,027 5,027 All funds held by the Trust are Unrestrlcted. The Trust holds no Restrlcted or Endowment Funds. The note5 at page5 8 to 10 form part of these accounts. Approved by the Trustees on and signed on their behalf bv.. lillwarb Trustee rton Suresh Jeganathan Trustee DIGBY HALL AND LIBRARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS A¢¢ounting Polldes al Basls of preparation and a$se55ment of 8oln8 concern The accounts Ifinancial statements) have been prepared under the historical cost conventlon with items recoBnised at cost or transaction value unless otherwise stated in the relevant notelsl to these accounts. The financial statements have been prepared In atcordance with the Statement of Recommended Practice= Accounting and Reportin8 by Charltles preparing their accounts in accordance with the Flnanclal Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republlc of Ireland IFRS 1021 and the Charlties Act 2011. The trust constitutes a publlc benefit entrty a5 defined by FRS 102, The trustees conslder that there are no material uncertaintles about the Trust'5 ablllty to continue as a goln8 concern. bl Funds structure All funds held by the Trust are Unrestrlcted. The Trust holds no Restricted or Endowment Funds. cl Income re¢ognitlon All Incomlng resources are recognlsed once the charlty has entltlemenl to the resources, It 15 certaln that the resources wlll be recelved and the monetary value of incomln8 resources can be measured wlth sufflcient reliablllty. Grants or Donations are recognised when recelved. Interest on funds held on deposit Is Included when received. d) Expendlture rewgnltlon Liabilities are retognised as expendlture as soon as there Is a legal or constructive obligation commlttlng the charity lo that expenditure, It 15 probable that settlement will be required and the amount of the obllgation can be measured rellably. All expenditure Is accounted for on an accruals ba515. All expenses Including support costs and governance cost5 are allocated or apportioned to the applicable expenditure headings. For more Informatlon on this attribution refer to note If) below. el Irrecoverable VAT Irrecoverable VAT Is charged against the expenditure heading for which It was incurred. Governance costs Governance costs comprise all costs involving the public accountability of the charity and its compliance with ￿gUlatiOn and good prartice. These costs include costs related to external examinations. 81 Realised 8ain5 and losses All gains and losses are taken to the Statement of Financial Activities as they arise. Reallsed Eains and 1055e5 on Investments are calculated as the difference between sale5 proceeds and thelr opening carrying value or their purchase value if a¢qtAired subsequent to the flrst day of the financial year. Unrealised gains and losses 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 Activitie5. DIGBY HALL AND LIBRARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS h) Hxed assets The Trust owns one property, the Digby Hall & Llbrary, whlch had an insured value of £4,672,613 at 31st March 2025. The Charlty SORP requires that donated assets are recognised within the accounts when the resource is controlled by the charity, It is probably that expected future economlc benefits will flow to the chartty, and the hi5torlcal cost or fair value tan be measured. Whilst the Trust expects to benefit from income derived from the hire of the building, it 15 expected that any income will jLtst cover the runnlng costs, allowing the Trust to break even. In addition. the property is subject to restrictive covenant which reduces the market value to £nll. A5 such. no monetary value is recogni5ed within the accounts. Fixture5, fittings and equlpment are depreclated in full In the year of acquisition. l) Debtors Debtors are measured at their recoverable amount5. 11 Cash at bank •nd In hand Cash at bank and in hand conslsts entlrely of cash balances held wlth the Trust's bankers. kl Credltors Credltors are measured at the amount required to settle the liability. 2 Investment Income 2025 2024 Dep051t Interest recelved 39 82 All of the Investment income Is attributable to unrestrlcted fund5. 3 Analysls of expendlture on charbtable actlvltles and support Costs Support and governance ￿$tS 2025 2024 A¢tlvlty Totol Totsl Independent examlner 499 499 499 279 279 499 4 Emolument$ and staff costs The Trust has no employees. A full time caretaker and a part time caretaker are employed bv Sherborne Town Councll, and the cost of this is Telmbursed by the Trust. Lettin& accountin maintenance and Beneral supervision are performed by 5herborne Town Councll staff. For this service the Trust pays a fixed contributlon, currently £5,OOQ p.a. DIGBY HALL AND LIBRARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS 5 Analysis of fixed assets Flxtures, flttSn8s and equlpment 2025 Flxtures, fittings and equlpment 2024 Cost At l April 2024 Additions Al 31 March 2025 424,325 424,325 424,325 424,325 Depreclatlon At l April 2024 Charge for year At 31 March 2025 424,325 424,325 424,325 424,325 Net Book Value 6 Aftaly515 of Charltable funds Fund nam• Fund balanco• biought fo￿1rd Fund b•lanc•8 carrfod lorwurd G•ln• nd {loss•$l Incom• Exp•ndltur• Unre5trlcted funds 5 027 62,551 73,776 16,1991 The unrestrlcted funds are available to be Spent for any purposes of the charlty. 7 Rèlated Party Transactlons 5herborne Town Council is the sole Trustee. The Council employs two caretakers who look after the Hall, the costs of whom are rebmbursed by the Trust. The Town Council also recharges the actual cost of 8oods and services ordered on behalf of the Trust. The Trust pays a flxed contribution of £5,000.00 p.a. In relatlon to other staff services provided by the Town Council. With effect from November 2022, the value to relmbuse for the costs of the two caretakers has been reduced by 50%. Sherborne Town Council provlded no grant funding during the year12024 £nill. The Simon Digby Isherbornel Memorial Trust was set up In 1989 wlth an oblectlve 'to benefit the Inhabitants of the Town of Sherborne,. The Settlor'5 wlshes were that the monles would be devoted to the malntenance and improvement of the Digby Hall, and the Terrace Playing Fleld. The Trust made grants totalling £nil12024 - £4,800) durlng the year to support the wnning of the Dr8by Hall. All transactions with organisations to which Councillor5 belong, or are assoclated wlth in any way, are conducted at arm's length. 10 DIGBY HALL & LIBRARY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DIGBY HALL AND LIBRARY report to the trusiees on my examination of the att¢yJnts of the Digby Hall and Ltbrary (the Trust) for the yèar ended 31 March 2025. Respon*billties and basls of report As the ¢harity truslees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Chartties Act 20111.the Arfl. I report in respect of my examination of the Trusvs accounts carried out under Section 145 of the 2011 Act and In tarryinE out my examination I have followed all the applitable Directions given by the Charity Commission under section 1451Sllbl of the Act. Inde￿ndent examlnerfs statemeftt I have completeil my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material re5pert'. l. accounting records were not kept in respect of the Trust as required by sectiort 130 of the Act; or 2. the accounts do not accord with those re¢ords: or 3. the accounts do not comply with the applicable requirements concerning the form and tontent of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the a¢count5 give a 'true and fair view which 15 not a matter considered 35 part of an independent examination. I have no toncerns and have tome across no other rnatters in connection wtth the exarnination to which attention should be drawn in this report in order to enable a proper understanding ol the actount5 to be Si8ned'. Name.. Rosie Darkin-miller LLB (Honsl BFP FCA Institute of the Chartered Accountants in England and Wale5 24e Deverel Road, Charlton Down, Dorchester. Dorset DT2 9UD Address: Date: