WOODMEAD HALLS, Lyme Regis
Treasurers Report - Financial Year April 1st 2022 to March 31st 2023
Introduction
The 2022/23 financial year was a continuation of the incremental improvements made in prior years. Specifically, this financial year signified the induction of a set of new Trustees to manage the Halls, taking over from longstanding outgoing Trustees. The new Committee would like to thank the outgoing Trustees for their commitment and support over the years.
The Halls have returned to full health in terms of bookings, utilisation, and availability for the community. Fundraising activities improved during this financial year, focusing on building reserves in order to address improvements to the capital assets held by the Trustees. The organisation continues to improve in terms of sound financial and operational management.
Accounts for the Year Ending March 31st 2023
Financially, Woodmead Halls continues to improve. This is represented by the following:
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Bar receipts were £10,930 compared to £5,704 in the prior year.
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Hire of hall receipts were £26,053, up from £20,693 the previous year.
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Total income for the year was £64,123 compared to £41,325 in the previous year.
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Total expenses came to £40,021 against £37,945 in the prior year.
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At the end of the year we had a net current assets position of £120,374 compared to £89,940 the previous year.
Non-Financial Matters
The next financial year will focus on continuing to improve the assets within the Halls and strengthening the Committee group. 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
February 2024
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 2023, 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 2023
| BAR ACCOUNT Sales Opening Stock Purchases Closing Stock GROSS PROFIT OTHER INCOME Hire of Hall Bank Interest Bank Compensation Contributions for Maintenance Solar Panel Income LRTC Public Service Agreement EXPENSES Telephone & Broadband Wages & Honorarium Insurance Maintenance Electricity Gas Water Rates Performing Rights Society & Legal Fees Printing & Postage Professional Fees Website, Internet and Advertising Depreciation Sundry Expenses EXCESS OF INCOME OVER EXEPNDITURE |
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 |
10930 500 4981 (500) 4981 5949 26053 271 250 10500 8716 12384 58174 64123 826 11005 1240 12045 2134 1442 2410 468 135 300 261 7755 - 40021 24102 2023 |
|---|---|---|
WOODMEAD HALLS
BALANCE SHEET
AS AT 31 MARCH 2023
| 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 2022 Excess of Income Over Expenditure INTEREST FREE LOANS (Note 2) |
250568 500 18139 738 65499 4848 1694 91418 1478 89940 340508 336613 3380 339993 515 340508 2022 |
500 52187 66495 - 2318 1147 122647 2273 |
244236 120374 364610 339993 24102 364095 515 364610 2023 |
|---|---|---|---|
WOODMEAD HALLS
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2023
| 1. FIXED ASSETS At 1 April 2022 Additions in Year At 31 March 2023 DEPRECIATION At 1 April 2022 Charge in Year At 31 March 2023 NET BOOK VALUE At 31 March 2022 At 31 March 2023 |
Land & Buildings 404025 404025 158500 6138 164638 245525 239387 |
Equipment Total 77251 481276 1423 1423 78674 482699 72208 230708 1617 7755 73825 238463 5043 250568 4849 244236 |
|---|---|---|
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