WOODMEAD HALLS, Lyme Regis
Treasurers Report - Financial Year April 1st 2021 to March 31st 2022
Introduction
As with all organisations, the Woodmead Halls has been severely affected by the Coronavirus for these past few years, but have moved into better times with a sound position of financial and operational governance.
Before dealing with the financial matters, I would like to pay tribute to previous Trustees Jackie Hedley-Tuffs and John Broom, who sadly passed in December 2022 and January 2023. They were instrumental in the ongoing maintenance of the halls, well into their old age. Thank you for your hard work and commitment.
Accounts for the Year Ending March 31st 2022
The year was a financially buoyant year compared to the previous year. This was impacted by the return to trading following the completion of Government restrictions:
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Bar receipts were £5,704 compared to £768 in the prior year.
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Hire of hall receipts were £20,693, up from £4,072 the previous year.
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Total income for the year was £41,325 compared to £19,252 in the previous year.
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Total expenses came to £37,945 against £39,988 in the prior year.
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At the end of the year we had a net current assets position of £89,940 compared to £81,220 the previous year.
Non-Financial Matters
The biggest issue facing the Management Committee is the need to elect new Trustees, being explored and achieved during the 2022-23 financial year. This will be covered in detail in the next annual report.
I would like to thank the commitment of all involved with the halls, and wish every success for the ongoing operations.
Tim Bell
Treasurer, Woodmead Halls Management Committee
March 2023
WOODMEAD HALLS ACCOUNTS FOR THE YEAR ENDED IMAR
INDEPENDENT EXAMINERS REPORT
TO THE TRUSTEES OF WOODMEAD HALLS
I report on the accounts of the Woodmead Halls, for the year ended 31 March 2022, which are set out on pages 2 to 4.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011(the 2011Act) and that an independent examination is required.
It is my responsibility to examine the accounts under section 145 of the 2011 Act; to follow the procedures laid down in the general directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and to state whether particular matters have come to my attention.
The charity is preparing accrued accounts and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants.
BASIS OF INDEPENDENT EXAMINERS REPORT
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, I do not express an audit opinion on the view given by the accounts.
INDEPENDENT EXAMINERS STATEMENT
In connection with my examination, no matter has come to my attention:
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Which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act.
have not been met; or
- To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
V Trott FCCA TCAS Limited Chartered Certified Accountants 2 Victoria Hall Coombe Lane Axminster Devon EX13 5AX
WOODMEAD HALLS
INCOME & EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2022
| BAR ACCOUNT Sales Opening Stock Purchases Closing Stock GROSS PROFIT OTHER INCOME Hire of Hall Bank Interest Solar Panel Income LRTC Public Service Agreement EXPENSES Telephone & Broadband Wages & Honorarium Insurance Maintenance Electricity Gas Water Rates Performing Rights Society & Legal Fees Professional Fees Domain Name, Website & Internet Depreciation Sundry Expenses EXCESS OF INCOME OVER EXEPNDITURE |
768 1880 (980) 900 (132) 4072 4 7223 8085 19384 19252 924 12285 1102 10293 2220 921 1518 1085 302 889 7819 630 39988 (20736) 2021 |
5704 980 2477 (500) 2957 2747 20693 438 7507 9940 38578 41325 1104 11340 1174 7308 1798 1879 2542 745 330 1420 7976 330 37945 3380 2022 |
|---|---|---|
WOODMEAD HALLS
BALANCE SHEET
AS AT 31 MARCH 2022
| FIXED ASSETS (Note 1) CURRENT ASSETS Bar Stock Bank Balances - Current Account Bonus Saver Accounts Nationwide Debtors Prepayments CURRENT LIABILITIES Creditors NET CURRENT ASSETS NET ASSETS FINANCED BY CAPITAL ACCOUNT At 1 April 2021 Excess of Income Over Expenditure INTEREST FREE LOANS (Note 2) |
255908 980 12101 738 65061 2485 1662 83027 1807 81220 337128 357349 (20736) 336613 515 337128 2021 |
500 18139 738 65499 4848 1694 91418 1478 |
250568 89940 340508 336613 3380 339993 515 340508 2022 |
|---|---|---|---|
WOODMEAD HALLS
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2022
| 1. FIXED ASSETS At 1 April 2021 Additions in Year At 31 March 2022 DEPRECIATION At 1 April 2021 Charge in Year At 31 March 2022 NET BOOK VALUE At 31 March 2021 At 31 March 2022 |
Land & Buildings 404025 404025 152205 6295 158500 251820 245525 |
Equipment Total 74615 478640 2636 2636 77251 481276 70527 222732 1681 7976 72208 230708 4088 255908 5043 250568 |
|---|---|---|
The rates of depreciation used have been calculated in order to write off the cost of the assets over their estimated useful lives.
The rates used on a reducing balance basis are:
Building 2 .5 % per annum Equipment 25% per annum
2. INTEREST FREE LOANS
Repayments are to be made at the Management Committees discretion