COXHEATH RESIDENTS’ VILLAGE HALL
INDEPENDENTLY EXAMINED FINANCIAL ACCOUNTS
YEAR ENDED
31 MARCH 2021
CHARITY REGISTRATION NO. 295467
COXHEATH RESIDENTS’ VILLAGE HALL
CONTENTS
Page Trustees’ Annual Report 1 to 4 Independent Examiner’s Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8 to 12
COXHEATH RESIDENTS’ VILLAGE HALL
PAGE 1
TRUSTEES ANNUAL REPORT
1. Reference and administrative information
The trustees present their annual report of Coxheath Residents’ Village Hall and the financial statements of the charity for the year ended 31 March 2021.
President Mr M Fitzgerald Vice President Mr V Codling Trustees Mrs B Appleton Mrs S Baker Mrs C Mannell Treasurer Mrs S M Scott Secretary Mr J Bushnell Chairman Mrs G Hawkes Mr T Burton Mrs E Potts Mr C Baker Mr D Carpenter Charity address Coxheath Village Hall Stockett Lane Coxheath Maidstone Kent ME17 4PT Charity Registration Number 295467 Independent Examiner Mrs J A Griggs FCA Levicks Chartered Accountants & Business Advisers 61 London Road Maidstone Kent ME16 8TX
COXHEATH RESIDENTS’ VILLAGE HALL
PAGE 2
TRUSTEES ANNUAL REPORT (CONT’D)
Bankers National Westminster Bank PLC 197 Sutton Road Maidstone Kent ME15 9BT
2. Structure, governance and management
The charity is constituted by trust deed. Control is vested in the committee of management which consists of 12 elected members and 6 representative members. Up to 2 members may also be co-opted. The elected members are appointed from the end of the AGM at which they are elected to the end of the AGM the following year. The representative members are appointed by user organisations as stated in the trust deed and by new user organisations as agreed by the committee. Office is held from the beginning of the AGM at which they are appointed to the end of the following AGM. The village hall property is held on trust by the charity and no member is permitted to take or hold a personal interest in any property belonging to the charity otherwise than as trustee. Trustees are required to acquaint themselves with the village hall rules and are advised of their responsibilities by trustees that have previously been elected.
3. Objectives and activities
The charity’s objects are to maintain the village hall and recreation centre for the benefit of the residents of Coxheath. The property is held upon trust for the purpose of a Village Hall and Recreation Centre for the use of the inhabitants of Coxheath and the neighbourhood without distinction of sex or of political religious or other opinions and in particular for use of meetings lectures and classes and for other forms of recreation and leisure – time occupation with the object of improving the conditions of life for the said inhabitants. The charity is responsible for repairs, maintenance and insurance and for the management of users of the facility.
4. Achievements and performance
Works completed in the year were as follows:-
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Decoration of the main hall, small hall, small hall toilets and reception area.
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Blinds fitted in the main hall which are controlled remotely.
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Blinds fitted in small hall.
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Under stage storage doors replaced in main hall.
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Doors to storage cupboard for tables and chairs replaced.
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Lights replaced in main hall, small hall and kitchen with LED lights.
COXHEATH RESIDENTS’ VILLAGE HALL
PAGE 3
TRUSTEES ANNUAL REPORT (CONT’D)
Achievements and performance (cont’d)
This year has proved difficult due to Coronavirus – COVID 19 pandemic which has resulted in a loss of income due to the hall having to be closed for certain periods and then only open for certain activities. There are approximately twenty regular users who come on a daily, weekly and monthly basis who are still interested in using the hall in the coming year depending on restrictions being eased. The hall is used for a wide variety of activities and by a wide range of people. Most users are from Coxheath and its surrounding villages, reflecting the local nature of the hall. Here are some of the activities held at the hall:
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Dance and sports
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Preschool
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Activities for retired people
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Weight loss clubs
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Social meetings
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Training
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Parties
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Fundraisers
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Blood donation sessions
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Polling station
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Drama
During the year with full agreement of the trustees the management committee, chairman, secretary and treasurer assumed the day to day running of the hall with full reference to the full members committee keeping them informed by regular updates, telephone conversations and proposals for agreement.
5. Financial review
This year’s hire charges income was £6,124 . This was a decrease of £38,609 on last year’s result.
Grants of £10,440 were received from the Coxheath Parish Council together with a grant from Maidstone Borough Council of £10,000 as a one off payment due to the Covid pandemic.
Unrestricted expenditure was £35,382. This figure mainly represents regular maintenance, bills and decoration of the hall.
The charity aims to maintain a healthy balance on reserves sufficient to cover unexpected emergency situations. Cash reserves of £27,576 were held at 31 March 2021 which are considered satisfactory for this purpose. Unrestricted reserves were £164,996 and restricted reserves were £4,752 at 31 March 2021.
COXHEATH RESIDENTS’ VILLAGE HALL
PAGE 4
TRUSTEES ANNUAL REPORT (CONT’D)
6. Statement of trustees’ responsibilities
The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Charity law requires the members to prepare financial statements for each financial year. Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charities Statement of Recommended Practice (FRS 102). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees have complied with the duty in Section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission in respect of public benefit.
In so far as the trustees are aware they have taken all steps that they ought to have taken to make themselves aware of any relevant accounts information and to establish that the examiner is aware of that information.
Mr J Bushnell (Chairman)
23 July 2021
COXHEATH RESIDENTS’ VILLAGE HALL
PAGE 5
INDEPENDENT EXAMINER’S REPORT
FOR THE YEAR ENDED 31 MARCH 2021
I report on the accounts of Coxheath Residents’ Village Hall for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance sheet and the related notes set out on pages 8 to 12.
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 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act;
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to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
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 of explanations the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form 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 fair’ view which is not a matter considered as part of an independent examination.
I 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.
61 London Road J A GRIGGS FCA Maidstone LEVICKS Kent ME16 8TX Chartered Accountants & Business Advisers
28 July 2021
PAGE 6
COXHEATH RESIDENTS’ VILLAGE HALL STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted | Restricted | 2021 | 2020 | ||
|---|---|---|---|---|---|
| Notes | Funds | Funds | Total | Total | |
| £ | £ | £ | £ | ||
| INCOME FROM:- | |||||
| Hire charges | 6,124 | - | 6,124 |
44,733 | |
| Interest receivable | 4 | - | 4 | 20 | |
| Grants and donations | 2 | 20,440 | - | 20,440 | 8,194 |
| ______ | ______ | ______ | ______ | ||
| TOTAL INCOME | 26,568 | - | 26,568 | 52,947 | |
| ______ | ______ | ______ | ______ | ||
| EXPENDITURE ON:- | |||||
| Telephone | 419 | - | 419 | 251 | |
| Water rates | 531 | - | 531 | 255 | |
| Light and heat | 3,023 | - | 3,023 | 3,687 | |
| Cleaning | 5,605 | - | 5,605 | 9,614 | |
| Lettings secretary | 1,200 | - | 1,200 | 1,200 | |
| Repairs and maintenance | 9,900 | - | 9,900 | 30,169 | |
| Insurance | 4,757 | - | 4,757 | 4,547 | |
| Other expenses | 1,956 | - | 1,956 | 2,132 | |
| Depreciation | 7,061 | 147 | 7,208 | 6,576 | |
| Independent examiner’s fee | 930 | - | 930 | 930 | |
| ______ | ______ | ______ | ______ | ||
| TOTAL EXPENDITURE | ¤ | 35,382 | 147 | 35,529 | 59,361 |
| ______ | ______ | ______ | ______ | ||
| NET INCOME/(EXPENDITURE) | (8,814) | (147) | (8,961) | (6,414) | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 173,810 | 4,899 | 178,709 | 185,123 | |
| _ | ______ | ______ | ______ | ||
| Total funds carried forward | 164,996 | 4,752 | 169,748 | 178,709 | |
| _ | ______ | ______ | ______ |
COXHEATH RESIDENTS’ VILLAGE HALL
PAGE 7
BALANCE SHEET
AS AT 31 MARCH 2021
| Notes | 2021 | 2020 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| FIXED ASSETS | |||||
| Tangible fixed assets | 4 | 140,139 | 141,613 | ||
| CURRENT ASSETS | |||||
| Debtors and prepayments | 5 | 5,122 | 6,967 | ||
| Cash at bank and in hand | 27,576 | 32,251 | |||
| ______ | ______ | ||||
| 32,698 | 39,218 | ||||
| ______ | ______ | ||||
| LIABILITIES | |||||
| Creditors: Amounts falling due within | |||||
| one year | 6 | 3,089 | 2,122 | ||
| ______ | ______ | ||||
| NET CURRENT ASSETS | 29,609 | 37,096 | |||
| ______ | ______ | ||||
| NET ASSETS | 169,748 | 178,709 | |||
| ______ | ______ | ||||
| FUNDS OF THE CHARITY | |||||
| Unrestricted funds | 8 | 164,996 | 173,810 | ||
| Restricted funds | 8 | 4,752 | 4,899 | ||
| _ | _ | ||||
| 169,748 | 178,709 | ||||
| _ | _ |
Mrs C Mannell (Treasurer)
26 July 2021
COXHEATH RESIDENTS’ VILLAGE HALL
PAGE 8
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
1. Accounting policies
Basis of preparation of accounts
The financial statements have been prepared under the historical cost convention and include the results of the charity’s operations, which are described in the Trustees’ Report and all of which are continuing.
The financial statements have been prepared in accordance with the Charities Act 2011, the Statement of Recommended Practice accounting and reporting by charities Financial Reporting Standard 102 (SORP FRS102) and the Financial Reporting Standard 102 (FRS102). The trust is a public benefit entity as defined by FRS102.
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
The accounts are prepared in sterling, being the functional currency of the charity.
Income recognition
Voluntary income, donations and grants are accounted for as receivable by the charity. Hire charges from the letting of the village hall are recognised when the income is due. Interest earnt on bank deposits is accounted for when received. Where monies are given for a specific purpose, they are restricted and a separate fund is maintained.
Expenditure recognition
Costs incurred are included in the accounts when there is an obligation for payment, and are allocated on an actual basis to the relevant fund.
Funds
Unrestricted funds represent the funds of the village hall that are not subject to any restrictions regarding their use and are available for application on the general purposes of the village hall operation. Restricted funds represent donations or grants received for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund.
Tangible fixed assets and depreciation
Tangible fixed assets for use by the charity are stated at cost less depreciation.
Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life:
Equipment - 20% on written down value Land and buildings - 2.5% on written down value/20 years straight line Development costs - 5% on written down value
PAGE 9
COXHEATH RESIDENTS’ VILLAGE HALL
NOTES TO THE FINANCIAL STATEMENTS (CONT’D)
FOR THE YEAR ENDED 31 MARCH 2021
1. Accounting policies (cont’d)
Value added tax
Value added tax is not recoverable by the charity. As such, it is included in the relevant costs in the Statement of Financial Activities and in the Balance Sheet.
Current assets
Amounts owing to the charity as at 31 March are shown as debtors.
Prepayments represent sums paid prior to the balance sheet date in respect of expenses relating to the subsequent year.
Current liabilities
Creditors and accruals represent sums irrevocably committed for payment prior to the balance sheet date that are not settled as at that date.
2. Grants and donations
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Parish Council grant | 10,440 | 7,250 |
| Donations | - | 800 |
| Maidstone Borough Council Grant | 10,000 | - |
| _____ | _____ | |
| 20,440 | 8,050 | |
| _____ | _____ |
3. Expenses reimbursed to committee members
No remuneration is paid to the trustees or the committee members. The committee members were reimbursed the following sums, in respect of motor expenses, telephone calls, postage and stationery, repairs and computer costs incurred on behalf of the committee:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| S Scott | 177 | 555 |
| J Stead | - | 11 |
| J Bushnell | 22 | 88 |
| C Mannell | 128 | 208 |
| ____ | ____ | |
| 327 | 862 | |
| ____ | ____ |
PAGE 10
COXHEATH RESIDENTS’ VILLAGE HALL
NOTES TO THE FINANCIAL STATEMENTS (CONT’D)
FOR THE YEAR ENDED 31 MARCH 2021
4. Fixed assets
| Land, Buildings | |||
|---|---|---|---|
| and Development | |||
| Costs | Equipment | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 April 2020 | 211,062 | 52,927 | 263,989 |
| Additions | - | 5,735 | 5,735 |
| ______ | ______ | _ | |
| At 31 March 2021 | 211,062 | 58,662 | 269,724 |
| ______ | ______ | ______ | |
| Depreciation | |||
| At 1 April 2020 | 78,219 | 44,157 | 122,376 |
| Charge for the year | 4,307 | 2,902 | 7,209 |
| ______ | ______ | ______ | |
| At 31 March 2021 | 82,526 | 47,059 | 129,585 |
| ______ | ______ | ______ | |
| Net book value | |||
| At 31 March 2021 | 128,536 | 11,603 | 140,139 |
| ______ | ______ | ______ | |
| At 31 March 2020 | 132,843 | 8,770 | 141,613 |
| ______ | ______ | ______ |
New extension
An extension was completed during the year ended 31 March 2005. The total cost was £211,394 against which non-repayable grants were received of £188,384. The net cost was added to fixed assets and is being depreciated.
PAGE 11
COXHEATH RESIDENTS’ VILLAGE HALL
NOTES TO THE FINANCIAL STATEMENTS (CONT’D)
FOR THE YEAR ENDED 31 MARCH 2021
5. Debtors and prepayments
| 2021 | 202 | |
|---|---|---|
| £ | £ | |
| Letting fee debtors | 819 | 2,210 |
| Prepayments and accrued income | 4,303 | 4,757 |
| _____ | _____ | |
| 5,122 | 6,967 | |
| _____ | _____ |
6. Creditors: amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Letting fee creditors | 800 | 550 |
| Accruals | 1,359 | 642 |
| Other creditors | 930 | 930 |
| _____ | _____ | |
| 3,089 | 2,122 | |
| _____ | _____ |
7. Independent examiner’s fees
The fee charged by the independent examiner for the year ended 31 March 2021 in respect of the independent examination was £930 (2020 - £930), inclusive of VAT.
COXHEATH RESIDENTS’ VILLAGE HALL
PAGE 12
NOTES TO THE FINANCIAL STATEMENTS (CONT’D)
FOR THE YEAR ENDED 31 MARCH 2021
8. Analysis of assets by fund
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Fixed assets | 135,387 | 4,752 | 140,139 |
| Current assets | 32,698 | - | 32,698 |
| Liabilities | (3,089) | - | (3,089) |
| ______ | ______ | ______ | |
| 164,996 | 4,752 | 169,748 | |
| ______ | ______ | ______ |
The restricted fund is comprised of a grant from Coxheath Parish Council given in 2009 on the condition that it be used for improving and enhancing the overall facility. The money was applied towards the cost of new windows during the year ended 31 March 2010. The annual depreciation of these assets is charged against the restricted fund.
9. Fund movements
| General | |||
|---|---|---|---|
| Unrestricted | Restricted | ||
| Funds | Fund | Total | |
| £ | £ | £ | |
| Balance b/fwd 1 April 2020 | 173,810 | 4,899 | 178,709 |
| Income | 26,568 | - | 26,568 |
| Expenditure | (35,382) | (147) | (35,529) |
| ______ | ______ | ______ | |
| Balance c/fwd 31 March 2021 | 164,996 | 4,752 | 169,748 |
| ______ | ______ | ______ |
10. General information
The charity is constituted by trust deed. The registered office is 39 Pippin Close, Coxheath, Maidstone, Kent ME17 4DS and the registered number is 295467.