BERKHAMSTED TOWN HALL TRUST NOTICE OF ANNUAL GENERAL MEETING THE FORTY THtRD ANNUAL GENERAL MEETING OF BERKIIAMSTED TOWN HALL TRUST WILL BE HELD IN THE GREAT HALL OF THE TOWN HALL ON THURSDAY 24 NOVEMBER 2022 AT &IWJ PM FOR THE FOLLOWING PURPOSES: I Presenlation of the Trnsttts report and aco)unts for the year ended 31 Juty 2022 2 Di￿ll5$10￿ o* the adminiqtsxtioi of tke Trnst 3 ElectAon of six Trn$tees All inhabitants of the Town of Berkhamsted and the Parish of Northchvrrh who have attained the age of eighteen May attend the meeting and are eligible tti vote. Nomtnation fornis for elected Trustres are available from the Trust OtTice in the Town Hall. Nominations must IK received at the TTUSt Office not later than 12.00 n￿ll on Friday 18 NovemlKr 2022. Trust Office 196 High Street Berl£hamsted Herts HP4 3AP Tel: 01442 862288.. wWw.berkhamst￿1t￿wllha1l.¢o.llk By order of the Trustees Jan Hall Setretary to the Trust Registered Charity no 27K248 15 September 2022 The Meeting will be preeeded at 7JO p.m. by the ADnual General Meeting of the Market Fund and followed at approximatety 9.IMI p.m. by a meeting of the Trnstees to eleet officers YdDd to appoint tommittets aud pn)ftssional adV￿ern BERKHAMSTED TOWN HALL TRUST REPORT OF THE TRUSTEES AND FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31 JULY 2022 CONTENTS REPORT Legal aDd administrativt inform*tioD Report Fonnation Trustees Charitable object and p)licies Organisation and administration AprKtrinthient of TTUSt¢es Trustee induction aDd training Public trKnefit statement Professional advisers and bankers AS5(￿lated organisations Developmen& activities aehievements Financial Buildings Community facilities The Market Fund 'The Friends, People Fillatteial review Other matters Assets and obligations Investments Risk management Trustees. resw>nsibilities in relation to the financial statements Smmmariwl fiDaDcial statement Summarised statement of finan¢ial activities Summarised balance sheet Bal2n¢e sheet Ststement of financial xtivities Detailed finan¢ial statements 5t06 io 12 13to21 PATRONS Thomas Loten RTrchard Mabey MA Tim Bentincl 12th Far] of Portlgnd MBE Esther Rantten DBE David Sheffatt Page I LEGAL AND IIDMINISTRATIVE INFORMATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022 The Trnstees present their annual rery)rt and financial knents of the charity for the year ended 31 July 2022. The financial statements have been prepared in accordance with the a￿oUnting policies set out in note I to th¢ a￿)Unts and comply with the Charity's Tru￿ Deed. the ChaTiti¢s Act 2011 and Accounting and Reporting by Clwities: Stat¢rn¢nt of Recommended Practice applicable to charities preparing their a¢a)unts in accordance with the Financial ReFK)rting Standard applicable in the UK and Republic of Ircland (FRS 102) publisbed on 16 July 2014. FORMATION OF THE TRUST The Trust was established in 1979 bya Scheme of TnL8t under Interim T￿￿ee& This w&% in succession to earlier schemes for the Town Hall, which had latterly been administered by the Berkhamsted Town Council. In 1981 a new Scheme of TnJs¢ approved by the Charity Commissioners. ￿ate41 that the buildings were to be used &8 a Community centre for the people of Berkhamsted and Northchurch. It a150 provided for the annual ele¢tion of six Trustees and the appointment of other Trustees by certain local authorities and orgtnisations who nominate their own represetttative. TRUSTEES DifRING THE YEAR TO 31 JULY 2022 Eleeted Angela Byrne until 26th NOveMtr￿r 2021 Chri￿lne Cowie# Peter ElsWOrt￿ {Chairnian) Nick Francis until 21￿ seoun￿r 2021 lain Lang# Ian Reay froln 26th NoVem1￿r 2021 Jeannie Stirrup# . ,, AppoiDted Richard C￿# Giles Clark# (Vice ChaiTm&n) JoFm Gerry# Eric Cwk Lmtil 26th Novetnber 2021 Councillor lan Reay until 26th Novemiv 2021 Coun¢illor Sally Symington # christ0￿r Talknt.Ponsonby# (Hon. Trea8urcr) BerkhaM￿ed Arts T￿￿ & Frie￿LS of IIK Town Hall Northchurch Partsh COU￿1] Hertfordshire Coiuty COU￿11 Dac4)nmi BoTough COW￿11 Berkha￿ citize￿ A￿ciall0n Cwpted Jukes# # serv￿ &8 all year No 278248 Register￿ Charity Trust Offiee 196 High Stre¢L Berkhamsted. HP4 3AP Page 2 CHARITABLE ORIEcf AIYD POLICIES Object The Trust's obje¢t is to provide community faciltties in the Town Hail. Polieies At the time the TnLSt was fornied the Town Hall was almost deTelict. In order to bring the building back into use the Trustees d￿lded to lease the ground floor to commercial firnis. The leasehold income together with gran￿ filnd raising activities and 108ns rdis¢d on the security of future commercial income have enabled th¢ rest of the building to be restored. The TNstees allow ihe community facilities to be hired out for other purposes to subsidise th¢ Tunning costs. Some ground floor loeations, which are unsuitable for commercial letting. are now used for ci)mmunity purposes. The Trust's policy on reserves has not yet been defined by the Trustees because there have not yet been any reserves available after meeting planned comrnÉtments other pl8nneAJ expenditure. There have been no changes in these policies since the last reporL ORGANISATION AND ADMINISTRKfioN The Trustees norn]ally meet every three months to discuss the Tn￿t'S affairs. The TnEStees are responsiblc for the financtal matteTS. general Trust athninlstrati0￿ commercial activities the refurbishment and maintenance of the buildings. and the community facilities. Berkhamsted Town Hall Trading Ltrnitrf a wholly owmed subsidiary company. manages the bar and catering facilities and covenants its profits to the TTUSL The Town Hall Manager and the Finance Manager handle the Trust's admfftnistration. AppoIwfMENf OF TRUSTEES In 1981 a new Scheme of TrusL approved by the Charity Commi&sioners provided for the annual election of six Trustees and the apwiintment of other Trustees by certain local authorities and organisations who nominate their own representative. TRUSTEE INDUCTION AIYD TRAJMNG This is undertaken by the Chairnwi of TTUSt who briets them on their legal obligations under charity and company law. the Charity Commission guidance on public benefit, content of the Mernorandum and Articles of A&sociation. the cornmittee and decision-making proG¢sses and receni financial r￿rfOn￿ance of the TrusL Trustees are enc4)uraged io attend appropriate external training events where these will &ld value to their role. PUBLIC BENEFrr STATEMENr The Trustees have considered the Charity Commission's guidance on public benefit and as a result have continued to actively en¢ourdge new regular bookings for the benefil of the community. The majority of the regular hirers provide health and well-being a¢tivities to user& from toddlers to seniors. The Hertfordshire Hearing Advisory Service (Registerd Charity number 1063430). which is allowed to operate out of the Town Hall, free of charge, on th¢ fourth Wednesday of every month has been unable to do so this year due to the pandemic. PROFESSIONAL ADVISERS and BAIYKERS daring th¢ year to 31 July 2022 Bankers Barclays Bank PLC. Berkhw Santsnder UK. Reading HJP. Berkhamsted Bond Insurnnce SerYiee4 Potters Bar Delts Financial Management Lt& Elstree Aitchison Raffety. Hemel Hempstead Brnsier Freet￿ Watford Austins Penny and Thorne. Berkhamsted Robert Martell & Partners Berkhamsted Independent Examiners Insur4nce Brokers Pension Advisers Proikny AdviseTS Solicitors Surveyors ASSOCIATED ORGAiYISATIONS The Market Fund- clo Hall Tntst oftic4 196 High StreeL Berkhamsted. HP4 3AP The Friends of Berkhamst¢d Town Hall- ChalTM￿ Giles ClarK The Bothy. B¢rkharnsted Place, BerkharnSte￿ HP4 1 HQ. DEVELOPMENT, ACTIVITIES AND ACHIEVEMENTS NANc￿L In this financial year. the Town Hall wa5 impacted again by the continuing pandemic. but this was offset to a certain degree by the Government's Job Retention Scheme (£3.82]) and Omicron Hospitality & Leisure Grant (£6.1￿). The Trust re¢otded a surplus of £14.335. BUILDINGS Other than routine maintenance there was no major expendituff on the building. Planned bDildiDg work In the long tern), the building's ten-ycar roof matntenan¢e plan needs to be impleMentr￿ finances perniitting. Page 4 COMMUNITY FACILTfiES In order to give the Trust a more guardnteed regular income frorn hires, emphlsis is placed on increasing the number of regular hi￿ bookings whilst leaving the majority of Friday and Saturday evenings available for ad hoc iKM)kings such &$ weddings and private functions. In the early part of this financial yur, the paI￿¢M1¢ continued to imp&t hall hires with many regular hires making a stsggered return between August and November 2021 and were then again briefly Rmpacted by Omicron in January 2022. Ineome 2022 2021 Hiring of halls Total income from community facilities 36 555 The street market continues to provide a major contribution to the finances of the Trus¢ with a surplus of £51,313 (2021 £34.554). The incre&se in surplus is due to iKlth the Wednesday and Saturday Markets recovering frorn the pandemic. The Trnsi has an indefeasible right to the profits of the markeL which is administered by a sepatate trust of which thi5 T￿￿1 has the right lo appoint the majority of the Tntsfres. 'THE FIUEM)S' The Friends of BerkhaTnsted Town Hall is an independent organisation whose income is not dealt with in these a￿Ounts. Activities of the Friends are limited to sponsoring concerts and selling refreshments at special events such &$ the Graham Greene Festival, and the funds rdised are relatively 5mall..All donations received from the Friends of BerkhaIn￿ Town Hall are plxed in restricted funds èn<4 are only spent on projects approved by the donor. PEOPLE Patrons and Trustetg Nick FraDci4 a long standing and greatly valued Trustee since 2(K)O. sadly pA￿d away on 21st September 2021. Eri¢ COOK a fornier (2007 to 2021) who retired through ill héalth on 26th November 2021. sadly passed away on 7th April 2022. Volunteers The Trust continues to benefit from the 5erYices of its volunteers, principally those who constitute the Friends of th¢ Town Hall. The Trust would also like to record our appreciation of the seTvices of Joan Aldous who manages the bwkstsll with great succes& Page 5 Staff The Trnst is fortunate to have a loyal and enthusi&stic staff. led by our Town Hall Manager, Hall, who is endeavouring to build up an incre&sed letting progrdmme for the fu￿re whilst maintaining the existing high level of regular bookings. He is ably assisted by Pat Carter, Head Housekeeper. and by Iwo Assistant Housekttper& George Green and Stephen Cart¢r. Bar and eatering contractors Marie Clout continues to provide an excelknt bar service. Nic t*oM of Leon Catering continues to provide an excellent catering service. Indep¢ndeDt examiners The Trust has reappointed HJP of Berkhamsted as independent examiners of the Trusl's financial statements. This apwTrintment is made by charities whose annual incom¢ and expenditure are both Icss than £250.000. It involves less resw>nsibility a￿1 therefor¢ lower fees. FINANCIAL REVIEW The Statement of Financial Activities shows a decre￿ of 5.130/0 in the Tn￿'S income. The decrease is attributable to a decre￿ in the amount of Government support ￿herne payments received mainly offset by the increase in revenue from hall hi￿ Coppcr House rent and the Market Fund. The Trust agreed to reduce Copper House Bars Ltd. rent by £5(Ki per month for a ten month period. commencing with the rent received in the month of April 2022. The reduction was agreed in order to wist with the payment for an lnfrastnKtU￿ improvement (new heat pump and immersion h&oters). Total cost of the improvement is £IO,(KK> with the Trust coDtributAng 50Yo of the cost via the rent Teduclion. There was an increase in ewnditure of W/. This was attributable mainly to an increase in utility bills and building maintenance &% the use of the building returned tosome forni of nornialtty. The net movement in fvnds 15 a surplus of £14.335 (2021 surplus of £37.926). The Trust cA)ntinues to reduce its repayment mortgage with S8ntander UK. In 2022 the mortgage was reduced by £15J63 (2021: £11,523) to £251.752. A summary of the key figures in the full financial statement& which will be presented to the Annual Mectin& is shown later in this reFK)rt together with the full financiaI statements. OTHER mA￿ERs ASSETS AIYD OBLIGATIONS In the opinion of the T￿Stee& the Tn￿'S &ssets at 31 July 2022 were wjequate to meet the Trust's obligations as they fall due. The Trustees invest any pernwienl endowments in Gilt Edged securities. RISK MANAGEMEwr We ￿nfim} that the major risks to which the Trust is exw)se(L as identified by the Truste￿ have been wiewed and systems have tr￿en established to mttigate those risks. Page 7 TRUSTEES, RESPONSIBILrriLs IN RELATION TO THE FINANCIAL STATEMENTS The charity In￿ arc resp)nsible for prtP8Ting a trustees, annual rewjrt and financial sL*ernents in accord8n¢e with applithle law and United Kingdom A¢wunting Standards (United Kingdom Gcncrally Ac¢• Accounting Pr&ti¢e). Company law and the law applicabl¢ to charittes in England and Wales requires the charity trustees to prepare financial statements for each yw, which give a truc and fair view of the state of affai of the charitable company and of the incoming resources and application of resources for that periThl. In Preparing the financial statement& the tnLStees arc required to: select suitable accounting ￿lI¢jeS and the apply them consisteDtIy' observe the methods and principles of the Charities SORP. make judgements 2nd estimates tj￿t ate reasonable and ptudenL" sLth whether applicable accounting stsndards have been followe4 subject to any material departures di￿losed and explaindin the financial statement&. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the clwity will continue io business. The trustees are resFK>nsible for keeping proper xcounting records that disclose with reasonable accuracy at any time the financial ￿)sItIon of the charity al￿ to enable them to ensure that the financial statements comply with the Companies Act 2￿. the Charities Act 2011, the Charity (Ac¢ounts and Rewrts) Regulations 2008 and the provisions of the lTU￿ deed. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for ihe prevention and detection of fizud and other iTreguiaTities. Ap roved OD beh of tbe Trust on 15th September 2022 by Chainnan of Berl£bamsted Toiv• Hall Tr•st Berkhamsted Towll Hall Trnst 196 High Str Berlibam$ted Herts HP4 3AP Registered Charity 27K248 SUMMARISED FINANCIAL STATEMENT The financial information on pages 9 and 10 is tsken from the financial statements of the Trust for the year ended 31 July 2022. It does not ￿ntaIn sulfIcient infonnation to allow for a full understanding of the affairs of the TrusL It excludes the asse￿ liabilities and ￿$b flows of Berkhamsted Town Hall Trdling Limited. The financial statements are on pages I I to 21 and were approved by the Tn￿ at its meeting on 15 sept￿nber 2022. The re￿rt of the independent examiner was unqualified. FOR THE YEAR ENDED 31 JULY 2022 2022 2021 Intome Property income Hire of Community f¥ilities Trading Co. Matkel Fund Coronavirus Job Retention Scheme Coronavirus Government Grants Donations, ￿qUests and other income Totsl income 80.(KK) 36.316 1,818 51,313 3.821 47,4(M) 8.555 34.554 46,682 42,310 181 191112 Eipenditure Community facilities Trust administration Property ex￿￿1[ture Totsl expenditure 151065 8.450 138.288 8.450 Net incre&8e in frsour￿ from 0￿ratIng activiti&s 14J35 37926 USE OF RESOURCES FOR CAPITAL EXPENDITUIRE Net increase Deptrciation Capital extthdits 14.335 10.380 37,926 10.380 Resources available for firture spendin& subject to ¢ommitments to rqmy loan incra8ed by . 4715 Pag¢ 9 SUMMAIUSED BALANCE SHEET AS AT 31 JULY 2022 2022 2021 Fixed Assets Property and equipme 713J31 723.711 Investments Total ￿Xed As%ts 713J31 723.711 Amounts owing to the Trust Bank balances 4.706 133.908 12,658 141.055 Amounts due by the Trust in the next year 32,444 ) ( 56.901 Net Curre•t Assets l (Laabilitie8) 106.170 96812 Less amounts falling due in more than on¢ year ( 273.077 ) (288,434 Net A&*ets S46.424 532,089 Funds Beginning of year Net increase in resourc Revaluation of investhlent of year 532,089 14,335 494.163 37,926 546A24 532.089 The closing b4iance5 on the reserves are as follows Pernianent Endowmenl - Restricted Development Fund- Restricted Unrestricted Funds 198 2,989 543237 198 2.989 528.902 Pagc 10 BERKIIAMSTED TOWN HALL TRUST BALANCE SHEET AS AT 31 JULY 2022 Total Prior Year 2021 N4Mt Fud5 Funds Emdowmtnt 2022 Fixed Assets Tangible Fixed Ass¢ls Inv¢sth]ents 713J31 713J31 723,711 713 713 31 723 711 C•rre#¢ Assets 10 4.706 12,658 141055 Bank Balan￿ 153713 Curreot Liabilities C￿dItOrs. amtsunts failing due withtn one ycar Net C•rMt Asse￿{￿#￿115¢le$￿_ 32,4441 102S83 314441 I LLOI } I06 170 14 198 816J14 1989 819JOI 820J23 Terni Liabiliths C￿ditOrs. arnO￿n¢5 falling due in ￿re ihan onc year Morwge Rent Se¢urity Deposit 12.1 ( 236J89 ) 122 1 36.688 ) ( 236.389) (251,752 } i6,688 ) { 36,682 ) Tot*1 Lmg Tern l￿bIllieS L 27LIZ 1£ 288 434 1 543 198 Tht of th¢ Ch*rity Pennanent Endowrnent Restricted Fun(ts Unrestri¢ied Funds 198 198 198 2,989 2.989 543 37 528 902 13 13 13 1989 Tot*ftbarity F•m 198 The notes at pages 12 to 19 fom] part of the￿ accounts AppFov¢d by the Trust￿ on 15th SeptanlKx 2022 and Sign￿ on their IKhalf by: Peter Elsworth- Chairn18n of the Tn Trust OtTice 196 High Street Berkhamsted Herts HP4 3AP Registered Charity No. 278248 Pagell C4no*r4rt00 [4 L)C zrJcJ& 8 DETAILED FINANCIAL STATEMENTS BERKHAMSTED TOWN HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 I ACCOUNTING POLICIES l. l Basis of Preparation The accounts (fllwicial statements) have tttn prepared in ￿COrdanCe with the Statement of Recommended Practice: Accounting and Rew)rting by Charities preparing their accounts in accordance with the Financial Re￿)rtIng Standard applicable in the UK and Republic of Ireland (FRS 102) published on 16 July 2014 and the Charities Act 2011. Berkhamsted Town Hall Tn￿ meets the definitiiin of a public benefit entity under FRS 102. The functional currency u￿d ID prepwg the xcounts is GBP (British Pound). 1.2 Financial Reporting Standard 102- R￿￿ed DisclosuTe Exemptions The charity has taken advantage of the frillowing disclosure exemption in prtF)aring these financial ststement4 pennitted by Charities SORP FRS 102 'The Financial Rewyrting Standard applicable An the UK and Republic of Ireland,. The requiTements of Section 7- Statement of Cash Flows 1.3 Funds Structure Unrestricted incorne ￿ndS ¢mprise thos¢ funds which the Tn￿teeS atr free to use for any purwse in furtherance of the charitable objects. Unrestricted fimds include designated funds where the Trustee4 at their discretio￿ bave created a fimd for a specific pur￿Se. Restricted funds are funds which are to used in accordatKe with specific restrictions imw)5d by the donor or trust deed. Trdnsfer between fund& the donations by the Friends of the Town Hall are all￿*d to restricted funds. then any..of their donations authorised to be on capital items are transfttTed to Iinrestricted fimds. 1.4 In¢ome Recognttion The reGognition of incoming resources is b&sed on when the Charity becomes entitled to the tEsources. when thc Tn￿CeS klieve that there is sufficient certainty that receipt of the resources is onsidered probable and when the monetary value be measured with sufficient r¢lTability. Property income and incom¢ derived from NM)m hires is reCo￿lsed as earned (that i& as the related services are provided). Donations are credited in the year in which they are received and if given for a SI￿lfIC purpose are included in restriet¢d funds. 1.5 Expenditure Recognition Liabtltties are reCogni￿d as resou￿¢5 expended as soon &$ there is a legal or constructive obligation wmmittlng the charity to the ex￿ndItUre. All expenditure is ¥counted for on an als b&8is. Page 13 NOTES TO THE FINANCIAL STATEMENTS 1.6 Jrrecoverable VAT Irrecoverable VAT is charged against the category of resources expended for which it was ITr￿[red. 1.7 Allocation of Overhead and Supw)rt Costs Staff costs are allocated on a time basis al￿ other exF￿n￿depreclatIOn on an actual basis and interest on ￿¢upatiOn area. The remaining ¢osts are allocated &$ a lump sum ttheen the expenditu￿ categories of the Statement of Financial Activities rew)rt. 1.8 Tangible Fixed Asseis and Depreciation Fixed Assets are depreciated on a straigbt-line b￿lS over their .estimated uscfvl lives at the following rates- Buildings l % (100 years) Furniture and equipment 21Y/• (5 years) No f￿ed assets write-down &&sessmeDt was deemed ne¢e&sary. 1.9 Fixed Assets Investment Inv¢stm¢nts arc shown at middle-matket value at the balance sheet date. 1.10 Pensions In accordance with the Pensions A¢1 2008 all employees of the charity are automatically enrolled into a WOTkplace pension ￿h¢Me, which is managed by NEST (National Employrnent Savings T￿￿t). Th¢ Trust's contribution is restrict￿ to the contribution5 disclose41 in note 15. The t()tal ex￿nse ratio of the scherne for this financial year was 80/0 (3Yo wntribution from the Trust and 50/0 contribution from the individual employee). The TTUSt has no liability beyond making its contributions and paying acro&8 the deductio￿ for the employees. contributions. l. I l Debtors and Creditors Receivable / Payable WFthin One Year Debtors and credttors with no Slated inierest rate and receivable OT payable within one year are recorded at transaction price. Any10&8es arising from impairnient are recA)gnised in expenditure. 1.12 Governmcni Grants Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related asse￿ whereas those in relation to expendilurc are credited when the expenditure is charged to profit and lo￿. 2 MARKET FUND The Income from this fund arises from the Berkbamsted street markets and the TTUSt has an indefe&sible right to the excess of income over expenses of this fi￿￿. Page 14 NOTES TO THE FtNANCIAL STATEMETr¥rs 3 GRANTS I BEQUESTS I tK)NATIONS 2022 2021 Non Government Grants Bequests Donations- 10.000 Friends Burns Night Copper H Other Bookstall 150 5(Kl 335 398 4 EXPENDITURE ON CHARrrABLE ACTtvrrIES 2022 2021 Hall Management 138 138 288 The Trustees wherever possible. have sought in agT¢ements to exclude themselves from FKrsonal liability. but have taken out a S￿c]fir insurance ￿lIcY to covff their personal liabilty &$ Trustees. 5 OTHER COSTS 2022 2021 Trust Administra(ii)n Property 8,450 8.450 Page 15 NOTES TO ThE FNANCIAL STATEMEb¥rs 6 ALLOCATION OF GOVERNANCE AND OIIIER SUPPORT COSTS The breakdown of support costs and how these W¢Te allocated between governance and other Sup[￿ costs is shown in the lable ￿lOW. Cost Type Total All(Kated GoV￿anCe Related Other Suppx)rt Costs Basis of Aptthionment Staff Costs 88 88 Stafftime Allocation of stafftime is b&qed on 15% of the mana8¢rfs salary covering tTUStee meetings and ac¢4)unting. Governance Costs 2022 2021 tndependent Examinefs Fe¢s Professional Fees Support Costs {s¢¢ aix)ve) 3.710 3.699 The total supwrt Lvst attributable to charitable a¢tivities is applied to the Hall Management activity. Allocation of governan￿ and other support costs 2022 2021 Hail Management . 7 ANALYSIS OF RESOURCES USED Other LkprecIati￿ Inf¢rest & SuP￿rt Hall Management Athninistration 97.013 40.409 8.450 iOJ80 4263 152.065 8,450 2022 2021 io 51059 ￿80 153 186 Page 16 NOTES TO THE FtNANCIAL STATEMENTS 8 TANGIBLE FtXED ASSETS The TTUStees own the freehold of Bthhamsted Town HaiL which ¢ompTiSeS three separate but integrated buildings- the Town HalL the Se&sions Hall and the MaTket House. Freehold Furniture and ProFW Equipment Cost At l August 2021 At 31 July 2022 1.038.054 1038 054 8.800 1,046,854 eciation At l Au8USt 2021 Charge for year At 31 July 2022 Net Book Valu¢ as at 31 July2021 31 July 2022 314.343 8,8 323.143 324 723 333 523 713331 713331 9 INVESTMENrs There are curr¢ntly no investments. 10 DEBTORS 2022 2021 Rental debtors . Other debtors ' Prepaid expenses 159 146 I I CREDITORS- Amounts falling due within (ne year 2022 2021 Mortgage- Santander- payments Mortgage - Santander- interest Mortg2ge- Santander (l)- amount due 28,363 23,363 15,363 15,363 Other creditors and accn4ls Rent in advance Government Bounce B￿k JJ)an 4.789 1292 5,697 5,841 Page 17 NOTES TO THE FTNANCIAL STATEMENTS 2022 2021 Mortgage - Santander {2) Forecast balance remaining as of31st Jnty 2023 236.389 251,752 The Town Hall freehold property and building is the subject of a charge in favour of Santander UK. The remaining terni of the mortgage at 31 July 2022 w&$ 16 year4 and the rate of interest at 31 July 2022 w&s 3.￿/0 base rate plus the CUTrent UK SONIA. Actual Mortgage Santander UK Mortgage- Commenced on 28th A￿gust 2013 2022 2021 Mortgage - Santand¢r {1) [from t￿te l Ll Mortgage - Santander (2) Mortgage - Santander total outthding as of51￿ J•ty 2022 15.363 236389 251752 15,363 251752 267115 The Frtthold Prop¢ty is stated at n& cost in the Balance Sheet at £713.331 per Note The Freehold Property is stated at net trKK)k value in the Balance Sheet at £713.33] per Note 8. The aggregate of the mortg2ge {£251.752) represents 35.2W• ofthe net cost of the freehold property on which it is secured. 12.2 Copper House Bats Ltd. Rent Security Deposit Under a Rent tkposis tknL cop￿ House Bars tAd. lodged £80.(M) {with(xJt VAT) into the Trust's Barclays business premium account &$ a surety for its obligations undcr the Lease. Any interest accrued the deposit belongs to Copper House Bars Ltd. The deposit will be repayable to Copper House Bars Ltd. in th¢ event that their Profitability meets the threshold as set out in the Dep￿. 2022 2021 Copper House Rent Security Detx)sit at 1st August 201 Agreed Rent Withdrdwals by the Tn Interest on Copper House Rent Security De￿SIt Copper House Rent Security [￿￿Sit * 3 1st July 2022 36,682 48.548 11.875 ) Th¢ rent withdrawals wer¢ exclusive of VAT. Page 18 NOTES TO THE FfNANCtAL STATEMENTS 13 FUNDS (a) The Pern)anent Endowment Fund This rwesents the balance of funds transferred to th¢ Tnjst at its in¢eption in 1981. (b) Reslricted Fund This fiind r￿resentS donations and grdnts received to refutbi5h the Town Hall less amout expended on purclwe of Fixed A&*ts and renovation ewnditure. Pernianeni Restricted Unrestricted Endowmenl Funds Funds Total At l August 2021 Funds received Revenue income (net) At 31 July 2022 198 1989 528,902 532,089 198 543 237 14 ANALYSIS OF NET ASSETS Pernianent Restricted Unrestricted End0wm￿t . Funds Funds Totsl Fixed Assets Net Current Assets l (Liabilities) Long Tem Liabilities Investmems 713.331 713.331 102.983 106,170 273,077) (273.077 ) 198 2.989 198 543 37 546 424 Page 19 NOTES TO THE FINANCtAL STATEMENTS 5 ANALYSIS OF STAFF COSTS. TRUSTEES. REMUNERATtON AND EXPENSES. AND REMitNERATION OF KEY MANAGEMENf PERSONNEL 2022 2021 Salaries and Wages National Insurance NEST Pension Scheme 88.860 3263 87.550 3.262 The avernge number of employees during the yeat w&s 4 (2021: 4) with all employee time involved in Providing either supp)rt to the governance of the charity or suprx)rt services to the charitsble activity (hall management). The tTUStees were not paid by or receivéd any other benefrts from the Tn￿ (2021". £Nil) neither were they reimbursed expenses during the year (2021: £Nil). No trustee received payment for professional or other services supplied to the Tnlst (2021: £Nil). The Tnjst considers that its key management r*rsonnel comprise solely of the Manager. The total ernployment benefits including employer pension contributions of the key management personnel were £33,454 (2021: £34.502). No employee benefits in excess of £60.000 {2021: none}. 16 BERKHAMSTED TOWN HALL TRADING LIMITED The company was incorFK)rated as a wholly owned subsidiary of the Tn￿t on 7 September 1997 and commenced trading in May 1998 and receives the commission from the catering services provided. In the opinion of the Trustees the assets and liabilities are immaterial to the Trust's affai￿ and therefor¢ group w)unls have not been Prepared. At 31 July 2022 the profit from Berkhamsted Town Hall Trading Limitsj w&$: 2022 2021 Profit for year 1.818 When there ts a pn)fiL it is donated under a Deed of Covenant to the Tn 17 RELATED PARTY TRANSAcfIoNS There were no related paty transactions {2021: none). Page 20 NOTES TO THE FINANCIAL STATEMENTS 18 CAPITAL COMMITMEKfs AND FLTNDTNG At 31 July 2022 the capital commilments not provided for in the accounts was £ Nil (2021: £Nil). 19 ULTIMATE CONTROLLING PARTY The optnion of the T￿￿CeS is that the ultim￿ Cotknlling Party of the Berkbw￿cd Town Hail Trust is the Trusttts themselve& Pag¢ 21 CHARITY COMMISSION FOR ENGIAND ANO WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of BERKHAMSTED TOWN HALL TRUST On accounts for the year ended 31 JULY 2022 Charity no (rf any) 278248 Set out on pages I report to the trustees on my examination of the accounts of the above charity (Yhe Ttusf) for the year ended 3110712022. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordan￿ wtih the requirements of the Charities Act 2011 {llhe Act.). I report in respect of my examination of the Trust'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 examine￿5 statement I have completed my examination. I confinn thal no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordan￿ with section 130 of the Chanties Act; or the accounts did not accord with the accounting records.. or the accounts did not comply with the applicable requirements conceming the fom and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fairf view whi¢h is not a matter ¢onsidered as part of an independent examination. I have no cOn￿mS and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Date: ICJ- 11- 20XI Name: ANGELA PEDEN Relevant professional qualificationls) or body {if any): FCA Address: ALL ABOUT BUSINESS LIMITED. AUDLEY HOUSE NORTHBRIDGE ROAD BERKHAMSTED, HERTS, HP4 1EH Section B Disclosure Only complete if the examiner needs to highlight material matters of concern (see CC32. Independent examination of charrty accounts.. directions and guidance for examiners). Giv8 here brief details of any items that the examiner wishes to disclose.