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2023-03-31-accounts

COXHEATH RESIDENTS’ VILLAGE HALL

INDEPENDENTLY EXAMINED FINANCIAL ACCOUNTS

YEAR ENDED

31 MARCH 2023

CHARITY REGISTRATION NO. 295467

COXHEATH RESIDENTS’ VILLAGE HALL

CONTENTS

Page
Trustees’ Annual Report 1 to 4
Independent Examiner’s Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 12

COXHEATH RESIDENTS’ VILLAGE HALL

PAGE 1

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

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 2023.

President Mr M Fitzgerald Vice President Mr V Codling Trustees Mrs B Appleton Mrs S Baker Resigned 12/07/22 Mrs C Mannell Treasurer Mrs S M Scott Secretary Mr J Bushnell Chairman – Resigned 02/06/22 Mrs G Hawkes Mrs E Potts Mr C Baker Mr D Carpenter Chairman – Appointed 12/07/22 Mr D Clapperton Ms C Mitchell Mrs J Baker Trustee – Appointed 12/07/22 Mrs C Crickett Trustee – Appointed 12/07/22 Mr C Parker Trustee – Appointed 12/07/22 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)

YEAR ENDED 31 MARCH 2023

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:Upgrade to electrics as identified on 5 year inspection. Main hall floor complete refurbishment. Thermostatic radiator valves fitted to all radiators to help with energy costs.

COXHEATH RESIDENTS’ VILLAGE HALL

PAGE 3

TRUSTEES ANNUAL REPORT (CONT’D)

YEAR ENDED 31 MARCH 2023

Achievements and performance (cont’d)

There are approximately twenty regular users who come on a daily, weekly and monthly basis. 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:

5. Financial review

This year’s hire charges income was £46,171. This was an increase of £10,660 on last year’s result.

Grants of £6,648 were received from the Coxheath Parish Council.

Unrestricted expenditure was £44,825. 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 £58,301 were held at 31 March 2023 which are considered satisfactory for this purpose. Unrestricted reserves were £186,189 and restricted reserves were £4,468 as at 31 March 2023.

COXHEATH RESIDENTS’ VILLAGE HALL

PAGE 4

TRUSTEES ANNUAL REPORT (CONT’D)

YEAR ENDED 31 MARCH 2023

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:

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.

D Carpenter - Chairman

18 July 2023

COXHEATH RESIDENTS’ VILLAGE HALL INDEPENDENT EXAMINER’S REPORT

PAGE 5

FOR THE YEAR ENDED 31 MARCH 2023

I report on the accounts of Coxheath Residents’ Village Hall for the year ended 31 March 2023 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:

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:

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

25 July 2023

PAGE 6

COXHEATH RESIDENTS’ VILLAGE HALL STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Restricted
Notes
Funds
Funds
£
£
INCOME FROM:-
Hire charges
46,171
-
Interest receivable
44
-
Grants and donations
2
6,908
-
Other income
3
144
-
TOTAL INCOME
53,267
-
EXPENDITURE ON:-
Telephone
654
-
Water rates
632
-
Light and heat
5,358
-
Cleaning
7,998
-
Lettings secretary
240
-
Repairs and maintenance
16,219
-
Insurance
4,505
-
Other expenses
2,034
-
Depreciation
6,207
140
Independent examiner’s fee
978
-
TOTAL EXPENDITURE
44,825
140
NET INCOME/(EXPENDITURE)
8,442
(140)
RECONCILIATION OF FUNDS
Total funds brought forward
177,747
4,608
Total funds carried forward
186,189
4,468		 2023
Total
£
46,171
44
6,908
144
53,267
654
632
5,358
7,998
240
16,219
4,505
2,034
6,347
978
44,965
8,302
182,355

190,657
 2022
Total
£
35,511
1
8,900
300
44,712
605
(92)
3,619
8,253
520
5,589
4,436
1,691
6,554
930
32,105
12,607
169,748
182,355

COXHEATH RESIDENTS’ VILLAGE HALL

PAGE 7

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
FIXED ASSETS
Tangible fixed assets
5
CURRENT ASSETS
Debtors and prepayments
6
Cash at bank and in hand
LIABILITIES
Creditors: Amounts falling due within
one year
7
NET CURRENT ASSETS
NET ASSETS
FUNDS OF THE CHARITY
Unrestricted funds
9
Restricted funds
9		 2023
£
£
128,865
8,314
58,301
66,615
4,823
61,792
190,657
186,189
4,468
190,657		 2022
£
£
133,585
7,860
44,964
52,824
4,054
48,770
182,355
177,747
4,608
182,355		 2022
£
£
133,585
7,860
44,964
52,824
4,054
48,770
182,355
177,747
4,608
182,355
182,355

C Mannell - Treasurer

18 July 2023

COXHEATH RESIDENTS’ VILLAGE HALL

PAGE 8

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

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, 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

COXHEATH RESIDENTS’ VILLAGE HALL

PAGE 9

NOTES TO THE FINANCIAL STATEMENTS (CONT’D)

FOR THE YEAR ENDED 31 MARCH 2023

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


Parish Council grant
Donations		 2023
£
6,648
260
6,908		 2022
£
8,400
500
8,900
3. Other income
Compensation - 300
Website sponsorship 144 -
144 300

4. Trustees remuneration and expenses

No remuneration or expenses were paid to the trustees or the committee members during the current or previous year.

COXHEATH RESIDENTS’ VILLAGE HALL

PAGE 10

NOTES TO THE FINANCIAL STATEMENTS (CONT’D)

FOR THE YEAR ENDED 31 MARCH 2023

5. Fixed assets

Land, Buildings
and Development
Costs Equipment Total
£ £ £
Cost
At 1 April 2022 211,062 58,662 269,724
Additions - 1,627 1,627
At 31 March 2023 211,062 60,289 271,351
Depreciation
At 1 April 2022 86,763 49,376 136,139
Charge for the year 4,167 2,180 6,347
At 31 March 2023 90,930 51,556 142,486
Net book value
At 31 March 2022 124,299 9,286 133,585
At 31 March 2023 120,132 8,733 128,865

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.

COXHEATH RESIDENTS’ VILLAGE HALL

PAGE 11

NOTES TO THE FINANCIAL STATEMENTS (CONT’D)

FOR THE YEAR ENDED 31 MARCH 2023

6. Debtors and prepayments

Letting fee debtors

Prepayments and accrued income
Other debtors
 2023
£
4,269
4,045
-
8,314		 2022
£
3,722
3,992
146
7,860

7. Creditors: amounts falling due within one year

Letting fee creditors
Accruals
Other creditors		 2023
£
2,200
1,645
978
4,823		 2022
£
1,900
1,224
930
4,054

8. Independent examiner’s fees

The fee charged by the independent examiner for the year ended 31 March 2023 in respect of the independent examination was £978 (2022 - £930), inclusive of VAT.

COXHEATH RESIDENTS’ VILLAGE HALL

PAGE 12

NOTES TO THE FINANCIAL STATEMENTS (CONT’D)

FOR THE YEAR ENDED 31 MARCH 2023

9. Analysis of assets by fund

Unrestricted Restricted Total
£ £ £
Fixed assets 124,397 4,468 128,865
Current assets 66,615 - 66,615
Liabilities (4,823) - (4,823)
186,189 4,468 190,657

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.

10. Fund movements

General
Unrestricted Restricted
Funds Fund Total
£ £ £
Balance b/fwd 1 April 2022 177,747 4,608 182,355
Income 53,267 - 53,267
Expenditure (44,825) (140) (44,965)
Balance c/fwd 31 March 2023 186,189 4,468 190,657

11. 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.