REGISTERED CHARITY NUMBER.. 283591 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 FOR THE PICKET PIECE COMBINED RECREATION HALL Rothmans LLP Avebury House St Peter Street Winchester Hampshire S023 8BN
THE PICKET PIECE COMBINED RECREATION HALL CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Pago Report of the Tru8ts8s Indopgndgnt Examln*rf$ Roport Stslemont of Flnancial Acts¥iti Balanco Sht Cash Flow Ststsment Nots$ to th• Cash Flow Slatsm•nt Notss to the Flnan¢l•l Ststements 10 10 15 D•tallod Stat•mont of Flnanclal A¢tl¥ltlo8 18
THE PICKET PIECE COMBINED RECREATION HALL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024 The trustees present their report wth the financial statements of the ¢harrty for the year ended 30 September 2024. The trustees have adopted the prowsions of Accounting and Reporting by Charities.. Stslement of Recommended Practice applicable lo charrtie5 preparing their accounts In accordance wth the Financial Reporo'ng Standard applicable in the UK and Republic of Ireland (FRS 1021 leffective 1 January 20191 08JECTIVES AND ACTIVITIES Objectives and aims The primary objective of the charity is to hold the property for use by the residents of Picket Piece. The purpose of the hall is lo provide a welcoming. accessible. and ftJn¢tional community space for the residents of Picket Piece and surrounding areas. The chanty aims to promote social cohesion. support local groups and busines5e5, and enhance the wellbeing of the communrty through the provision of facilities for recreational, educational, and cultural acts'vilies. Publ5¢ bongfit The trustees confirm that they have complied wth their duty to have due regard to the Chanty Commission's guidance on publi¢ benefrt. The charty's activrties. parbcularly the provision and planned upgrade of the Picket Piece Village Hall, are designe¢J to benefit the public by offering accessible. inclusive. and sale facilities for community Use. The hall supports a wide range of users. including children, older adults, local businesses, and community groups. ACHIEVEMENT AND PERFORMANCE Vlllage Hall Upgrado Proj•ct During the reporting period. the charity made substantial progress on the Picket Piece Village Hall Upgrade Project, a transformaty've inity'aty've lo moderni$e and expand the hall to meet the needs of a rapidly growing community. Key performance indicators for the year inclLKled'. Community engagement.. A multi-channel survey campaign (online. ¢JoOr-tOOr. events) gathered support from 531 individuals, including 468 local resents. Feedback hhlIghted Ihe urgent need for modern, accessible, and energy-efficienl facilrties. Procurement and planning mileslonès.. Succèssful Completion of thè tender Process, contractor appointment, and commencement of works on schedule. Construction progress.. Major structural and intemal yrkS %%tre completed in 2024, including roof, wall, and wndow upgrades, internal reconfiguration. and inslallats.on of new systems. Sustainability improvements." The project deliVed key enwronmenlal benefits, including solar panels lo generate eledricty and enhanced soundproofing. improwng ix)th energy efficiency and usability. Budget managemenl". The lotsl project cost is estimaleil al £690,000. Page 1
THE PICKET PIECE COMBINED RECREATION HALL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024 FINANCIAL REVIEW Financial position During the year. the charty receThied income from hall rentals. fijndraising events. and local authority grants. Expenditure was primarily directed toward operabonal costs and preparatory work for the hall upgrade project. The charity maintains a reserves policy lo ensure il can meet Tts obligation5 and respond lo unforeseen events. As of the latest financial year. reserves are being drawn upon to support operational costs due to rising energy prices and reduced hall income. The Iruslees aim to rebuild reserve5 post-upgrade through increased hall usage and improved energy efficiency. The Trustees at each Board meeting are briefed in detail on the progress of the transactions, the current balances. the levels of reseNes, and any fvture liabilth'es. On that basis. the Treasurer alerts the Trustees lo anything that might indicate that the charty is not likety to be considered a 90ing concem. The Trustees are confident that the Chanty is likely lo remain solvent and there are no uncertaints"e5 of this charity'5 ability lo continue. Total restrie lunds, relab.ng to the building project lotalled £682.979 at the end of the financial year, of which £385.581 relates to amounts included Vthin fixed a$sel$. Total unreslricled funds were a negative al the end of the financial year of1£2.2271. This negative reserve relates to the provision included in the financial statemenis for the fee payable to the independent examiners for the independent examination for the period. The cost of the independent examination will be covered by way of donation in the next financial period. there the fund should luM lo a posits've reserve. This does not give rise to a material uncertainty wth respect to going concern as the payment will be made in the next financial period, when fvrther income 1$ received. Prlnclpal lundlng sources The charity does not employ professional fvndraisers. Fundraising 1$ conducted through communty events, grant applications, and direct appeals. Invostfflont pollcy and obloctlve The charity does not currently hold investments. All fiJnd$ are held in standard bank accounts to ensure liquidity for operational and capital projecl needs. Re$op49$ poII¢y The charity maintains a reserves policy lo ensure il can meet its obligations and respond lo unforeseen events. As of the latest financial year. reseThes a being drawn upon lo support operational costs due lo rising energy prices and reduced hall income. The trustees aim lo rebuild reserves post-upgrade through ncrea5ed hall usage and improved energy efficiency. Fundraising Porfomian¢6 The charity successfulty raised all required funds by September 2024. through a combination of Section 106 developer contributions. grant applications, and community fundraising.. £406.000 secured from S106 agreement$ £25,000 applied for from the Community Action Fund ICAFI £245,000 queSted from the Communty Infrastructure Levy (CILI While all funding was agreed by the end of the financial year, some grant income was received in the following period. Fundraising efforts h%ere focuse(l on imme(liate Capital needs. and the charity mel ils fundraising objectives for the year. Page 2
THE PICKET PIECE COMBINED RECREATION HALL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024 FUTURE PLANS The primary focus for the coming year is to.. Complete the refurbishment by December 2024 to resume community events. Continue engaging with the communty to ensure the upgraded hall meets local needs. The upgraded hall wll better serve the growng population, improve accessibilty. and reduce environmental Impact through energy-efficienl systems. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is governed by a trust deed. The legal structure of the charity is an unincorporated trust. The board of trustees meet regularly lo oversee operations. ensu compliance wth stslutory obligations, and guide strategic directs'on. The trustees are volunteers dravm from the local community and bring a range of ski115 and experience to the charrty's work. Recrultmènt and appolntmènt of new trustèès Apart from the first Charty trustees, every truslee must be apw)inled by a resolution passed al a propedy convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity Iruslees musl have regard lo the skills. kno%edge and experience needed for the effective adminislralion of the ¢harty. New tru$lees are directed lo the Charity Commis$ion'$ guidance on their role and duties, and are provided vthh additional training according to their needs. The ¢harity's a¢tivrtie$ are delegated to a management team who work along side the Picket Piece Sports and Social Club lo hire the use of the hall to the local residence. The Picket Piece Sports and Social Club also organise regular communty events throughout the year. Key manag•mont r•munoratlon All Trustees give of their time freely and no Trustee remuneration was paid in the reporting year. Wldor network The charity works closely the Picket Piece Sports and Social Club. vknich manages some aspects of hall operats'ons under a fomal agreemenl. Rl$k man4gem•nt The trustees have assessed the major risks to Nthich Ihe charity is exposed, parbcularfy in relation to.. Financial sustainability during the hall closure lor furbishMenI Project delivery risks le.g. contractor delays, cost overruns) Health and safety of hall users Miligalion measures include.. A detailed project plan with an 8-month closure window and 2-month contingency Selection of a single contractor IRV Dart) lo manage all works Ongoing community engagement lo maintain support and usage posl-upgrade Insurance and compliance reviews REFERENCE AND ADMINISTRATIVE DETAILS Règistèred Charlty nUMr 283591 Page 3
THE PICKET PIECE COMBINED REGREATIQN HALL REPORT OF THE TRUSTEES FOR THE YÉAR ENDED 30 SEPTEMBER 21>24 Principal address Picket Piece Village Hall Wah*orth Road Pibk¥l Pi¥L Andover Hampshire SP116LY Tru•t••• S Potter W Fluen Ind•p•nd•nt Examiner Rothman5 LLP Avebury House Sl Peier sireei Winchester Hampshiro S023 88N ollciiors Barker Son & lshorwood 32 High Street Andover SP10 1NT Bankern Lloyds Bank ?? Hioh StraAI Andover SP10 1NW Sanlander 33 High Street Andover SP10 1LJ Approved by order of the board of trustees on... S Potter- Trustee P44
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE PICKET PIECE COMBINED RECREATION HALL Indendent èxaminèrfs roport to trustees of Th8 Pick•t Pi•c• Combinod R8crèation Hall I report to the charity trustees on my examination of the accounts of The Picket Piece Combined Recreation Hall Ilhe Trust) for the year ended 30 September 2024. R•sponsibllltles and basis of Trport As the charity trustees of the Trust you are responsible for the preparation of the a¢untS in a¢¢ordan¢e wth the requirements of the Charlties Act 2011 Ilhe Act'}. I report in respect of my examination of the Trust's accounts carried OLrt under Section 145 of the Act and in carrying out my examination I have followed all applicable Direcb"ons given by the Chanty Commission under Section 14515llbl of the A¢t. Indepgndent èxaminerfs stat•m8nt Since your chartys gross income exceeded £250,000 your examiner must be a member ol a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Inslilule of Chartered Accountants in England and Wales, vthich is ¢)ne of Ihe listed bc4Jies. I have completed my examination. I confim that no material matters have come lo my attentson in connection with the examination giwng me cause lo believe that in any material re$pec¢.' accounting records were not kept in respecl of the Trust as required by Section 130 of the Act,. or the accounts do not accord wth those records,. or the accounts do not comply wth the applicable requirements conceming the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understsnding of the accounts lo be reached. Jonathan Poutter FCA CTA Rothmans LLP Avebury House St Peter Street Winchester Hampshire S023 8BN Date.. 28 W 2025 Page 5
THE PICKET PIECE COMBINED RECREATION HALL STATEMENT OF FIMANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 Total ftjnds 2023 Total funds Unrestricted fvn Restn"cled fund Notes INCOME AND ENt)OWMENTS FROM Donations and legacies 17 662,547 662,564 15,036 Charitable activities Providing recrealitsnal facilrties 10.753 10,753 7,899 Totsl 10,770 662,547 673.317 22,935 EXPENDITURE ON Charitsbl& a¢tivltl•$ Providing re¢realional fa¢ilitie$ 13,254 13,254 7,899 NET INCOMEIIEXPENDITUREI {2,484} 662.547 660,063 15,036 RECONCIUATION OF FUNDS Total funds brought forward 257 20,432 20,689 5,653 TOTAL FUNDS CARRIED FORWARD 12.227} 682.979 6BO,752 20,689 The notes form part of these financial statements Page 6
THE PICKET PIECE COMBINED RECREATION HALL 8ALANCE SHE 30 8EPTEMBeR 2024 2024 Total funds 2023 Total funds unstrICted Restricled fund fund Notes FIXED ASSETS Tangible assets 385.581 385.5B1 3,744 CURRENT ASSETS Debtors Lasm at bank 245,000 127.427 245,000 127.700 273 16,945 273 372.427 372,700 16.945 CREDITORS Amounts falling ¢Jue wlhin one year 10 12.5001 175,0291 177.5291 NFf CURRENT ASSETSIILIABILITIES} {2.227) 297,398 206.171 18,946 TOTAL ASSEfs LESS CURRENT LIABILITIES 12,22n 682.979 680,752 20.889 NET ASSETS u2.¥1¥ l>UU, 1>2 2U,f5¥9 FUNDS Unroslrictgd funds Restricted funds 12.2271 682.979 257 20,432 TOTAL FUNDS 680.752 20.689 The financial stalgmgnts were approved by the Board of Trustees and aulhorisod for i88ue on 1'%Tr .142.Y...... and were signed on its behaK by.. S Potter- Twsl8e Fluen - Tru The notes fom part of these financial statements Page 7
THE PICKET PIECE COMBINED RECREATION HALL CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 2023 Notes Cash flows from op•ratlng a¢tivltloS Cash generated from operats'ons 417.563 15,036 Net cash provided by operating activities 417.563 15.036 Cash flows from investing activities Purchase of tangible fixed assets 1306,8081 13,7441 Nel cash used in invesbng activities 1306,8081 13,7441 Change Sn ¢a¥h and ¢ash gquS¥al¥nts In tho reportlng p•rlod Cash and cash equivalents at th• boglnnlng of thg reporting period 110,755 11,292 16.945 5,653 Cash and cash •qulval•nts •t the ond of thè roportlng porlod 127,700 16,945 The notes form part of these finarla1 statements Page 8
THE PICKET PIECE COMBINED RECREATION HALL NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024 RECONCIUATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the reporting period las per the Statsment of Financial Activitio$1 Adjustments for: Increase in debtors Increase in creditors 880,063 15,036 1245.0001 2,500 Net cash provided by operations 417,563 15,036 ANALYSIS OF CHANGES IN NET FUNDS AI 1.10.23 Cash flow At 30.9.24 Not cash Cash al bank 16,945 110,755 127,700 16.945 110,755 127,700 Totsl 16.945 110,755 127,700 The notes form part of these finarla1 statements Page 9
THE PICKET PIECE COMBINED RECREATION HALL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES Basis of pmparing th8 financial statements The financial statements of the charity, which is a public benefft enlty under FRS 102, have been prepared In accordance with the Charrties SORP IFRS 1021 Accounting and Repotb"ng by Charilie5'. Statement of Recommended Practice applicable to charities preparing their accounts in accordance ilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffecb've 1 January 20191,. Financial Reporb"ng Stsndard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial ststements have been prepared under the historical cost convention. The presentational and funCtnal currency of the charity is Pound Sterling. The accounts are rounded lo the nearest pound. The Iruslees consider that there are no material uncertainties about the Charty's abilty to continue a5 a going concem and these accounts have been prepared on a going Concem basis. There are no signfficanl judgements vthich affect the amounts recognised in these financial slalements. Income All income is recognised in the Statement of Financial A¢b'vitie$ once the charity has entitlement to the funds, il is probable that the income wll be received and the amount can be measured reliably. Income from Charitable Activth'es arises from hiring the hall lo the local communty, and income 1$ recognised in the penod In which the hire takes place. Grant Incomo This policy outlines the accounting Irealmenl and financial management of government and commLJnity grants awarded for the upgrade of Picket Piece Village Hall. It ensures compliance with accounting standards and transparency In the use of public fund5. Government Grants are aceounled for in a¢¢ordance wlh the pertormance model of FRS102. which requires that income is recognised al the point al which any pertormanc&related condth'ons have been met in full. Exponditure Liabilits'es are recognised as expenditure as soon as there is a legal or construth've obligation Committing the charty to that expenditure, rt is probable that a transfer of economic benefi'ts will be required in settlement and the amount of the obligabon can be measured reliably. Expenditure Is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been all¢cated to acliwties on a basis consistent with the use of $our¢e8. During the current and prior period, all expendilure incurred by the CharTty has related lo the single acb'vity of operating the Picket Piece Comknned Re¢a"0nal Hall. Tanglble fixed assets Depreciation is provided over the useful lrfe of Ihe asset. Short leasehold- 50 years As the building renovabon work5 tre complete at the end of the financial period, no deprerjation has been provided in the period. Page 10 continued...
THE PICKET PIECE COMBINED RECREATION HALL NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES- Mntlnugd Taxation As a charity, The Picket Piece Combined Recreational Hall is exempt from tsx on income falling wthin section 505 of the Taxes Act 1988 lo the extent that these are applied to rts Charitable obiecls. No tsx Charges have arisen in the chanty. Fund accounting Unrestricted funds can be used in accordance th the charitabk objects'ves al the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Reslriclions arise when specified by the donor or en funds are raised for particular reslricled purposes. Further explanation of the nature and purpose ol each fund is included in the notes to the financial Statements. Cash at bank Cash al bank includes current account balances and deposrts an onginal malurty of three months or less. CrgdStor¥ and Provl8lon$ Creditor5 and provisions lor liabilities are recognised where the charity has i present obligation resulting from a past event that 11 probably resull in the transfer of fvnds lo a third paty and the amount due to settle the obligation an be measured or estimated reliably. Creditors and provisions are normally recognised al their 5etUemenl am¢Junt after allowng for any trade discounts due. DONATIONS AND LEGACIES 2024 2023 Grants & Donations 662,564 15,036 During the year, the charity received govemment grants from Test Valley Borough Council. The primary funding sources were as follows. S106 Funding.. £637,547 Community Action Fund .' £25,000 The following grant condrtions applied to funding received in the year.. Fund5 must be used exclusively for the upgrade of the building. Project to be completed wthin 8 month$. Regular financial and progress updates to be communicated. There were no donations in kind in the period. Page11 continued...
THE PICKET PIECE COMBINED RECREATION HALL NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activty Providing recreational faCIle$ Rents received 10,753 7,899 CHARITABLE ACTIVITIES COSTS Support costs (see note 51 Direct Costs Totsls Providing recreational facilities 10.754 2,500 13,254 SUPPORT COSTS Govemance costs Providing recreats'onal faciltties 2,500 Fees payable lo the independenl examiner for the independent examination were £2,500. TRUSTEES. REMUNERATION AND BENEFITS There were no Iruslees, remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023. Trust••s' ?xpon808 There were no Iru$tees' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricled fund Restricted fund Totsl funds INCOME AND ENDOWMENTS FROM Donations and legacies 15,036 15,036 Charitable activitiOS Providing recreatsonal fa¢ilrties 7,899 7,899 Total 7.899 15.036 22,935 EXPENDITURE ON Charitsble a¢tiviti¥$ Providin9 recreab'onal faCIleS 7,899 7,899 NET INCOME 15,036 15,036 RECONCILIATION OF FUNDS Total funds brought foward 257 5,396 5,653 Page 12 continued...
THE PICKET PIECE COMBINED RECREATION HALL NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- contlnugd Unrestricted Restricted fund fund Total funds TOTAL FUNDS CARRIED FORWARD 257 20.432 20,689 TANGIBLE FIXED ASSETS Short leasehold improveme COST At 1 October 2023 Add'onS 3,744 381,837 AI 30 September 2024 385,581 NET BOOK VALUE AI 30 September 2024 385,581 AI 30 September 2023 3,744 The charity has right lo use the Hall for perpelurtuy. The hall 1$ not included within fixed assets, 88 there is no cost. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments and accrued income 245,000 10. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals and deferred income 77,529 11. MOVEMENT IN FUNDS Net movement in funds At 1.10.23 At 30.9.24 Unre$tri¢tsd fvnds General fund 257 (2,4841 12,2271 Restricted funds Building fund 20,432 662,547 682,979 TOTAL FUNDS 20.689 660,063 880,752 Page 13 continued...
THE PICKET PIECE COMBINED RECREATION HALL NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 MOVEMENT IN FUNDS- contlnuod Nel movement in lunds, included in the above a as follovts". Incoming resources Resources expended Movement in ftjnds Unrg$ffi¢tod funds General fund 10.770 {13,2541 12,4841 Restricted funds Building fund 662.547 662,547 TOTAL FUNDS 673.317 113,2541 860,063 Comparatlv•s for mov•mont In lundb Net movement in funds Al 1.10.22 Al 30.9.23 Unrnstrlctsd funds General fund 257 257 Rostrletod funds Building lund 5.396 1 5,036 20,432 TOTAL FUNDS 5,653 15,036 20,689 Comparats've net movement in funds, induded in the above are as follows.. Incoming resources Resources expended Movement in funds Unrostrictsd funds General fund 7.899 (7,8991 Restri¢t¢d fvnd$ Buildin9 fund 15.036 15,036 TOTAL FUNDS 22.935 (7,8991 15,036 The building fund is re3lTiCted to caprtal works lo upgrade the building. Page 14 continued...
THE PICKET PIECE COMBINED RECREATION HALL NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 12. CAPITAL COMMITMENTS As al 30 September 2024 the charrty was commrtteil to fvrther expenditure 01 £322.051 in respect of the renovation of the village hall. thich has not been provided for in these financial statements. 13. RELATED PARTY DISCLOSURES There wefe no relale(I party transactions for the year ende(130 September 2024. Page 15
THE PICKET PIECE COMBINED RECREATION HALL DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 2023 INCOME AND ENDOWMENTS Donatlons and lega¢l•s Grants & Donations 662,564 15,036 Charitable activitias Rents received 10,753 7,899 Total incoming resources 673,317 22,935 EXPENDITURE Charltsble acllvltlos Rates and water Insurance Telephone Sewage Electricty 235 3.510 565 346 6,098 171 508 169 7,051 10,754 7,899 Support costs Govornance cosis Accountancy and legal fees 2.500 Total resource$ expended 13,254 7,899 Net Incom 660,063 15,036 This page does not fonn part of the statulory financial statements Page 16