THE MEPPERSHALL VILLAGE HALL Year to 31st March 2022 Financial Statements Page I CHARITY NUMBER 300052 TRUST ASSETS A Village Hall on land at Meppershall in Bedlordshire togetherwith cash 3nd other assets available to the trustees. TRUSTEES David Birch Graham Jones Graham Walker Gordon Cordes John Thompson Megan Callanan SpecrfK responsibilities IProperty construction and trea5urerl IProperty construrtion and legal mattersl IPremises maintenance, Bars & bnSee) IEntertainment & Bars) Isecretary and Meppershall Parish Co¢Jncil norninationl Itr, design and website) Secretary John Thompson INDEPENDENT EXAMINER Richard Bodily ACA Chartered Accountant 28 Dunstable Road Luton LLII IDY BANKERS HSBC 19 Midsummer Place Milton Keynes PO Box 1888 Coventry CV3 9WN INVESTMENT MANAGERS Schroder & Co. Limited tla Cazenove Capital l London Wall Place London Ef2Y SAU CONTACT and CORRESPONDENCE The Brook 18B Shefford Road Mepper5hall Bedford5hire SG17 SU Tel". 07485 102727 Email.. trustees Website.. www.me me ershalfvilla ehall.co.uk ershallvilla ehall.co.uk
THE MEPPERSHALL VILLAGE HALL Year to 31st March 2022 Page 2 Report of the Trustees Constttutlon and Objecr of the Trust The Trust was established by a conveyance dated 26th January 196D of land Dn which the original Meppershall Willage Hall was constructed and recreational facilities provided. The assets of the tyust are to be used for the purp05e5 of improwng the conditsons of life for the residents of Meppershall in Bedfordshire and the neighbouring areas. Trustees and Commlttee of Management The tru5tee5 and committee of management is to comprise five member5 elected at the Annual General Meeting each year and others representing I1 organi5ations Specifically listed in the trust deed. No remuneration or expense allowances are paid for acting in the (apacity of trustee. Public Benefft The Trustees confirm that they have fed to the guidance contained in the Charity Commission's general 8uidance on public benefit when reviewing the Charitys aims and objectives and in planning future activities for the year. Statement of Trustees. responsibilitits The Tru5tee5 are aware of their responsibilities to prepa èccounts for each financial year which give a true and fair view of the stste of affairs of the Charity and ol its financial activities for that period. In preparing the accounts theTrustee5 have accepted the requirement to-. select suitsble accounting policies and then applythem con5i5tendyi make judgements and estimates that a reasonable and prudenL state whether the policies adopted are in accordance with the Charities Ststement of Recommended Practice arid with applicable accounting Standards. Subject to any material departures disclosed and explained in the financial ststements.. and prepare the finanoal statements on the 8oin8 concern basis unless it is not appropriate to presume that the Charity will continue operatin8. The Trustees are responsible for keeping proper accounting records which disclose wth reasonable acojrèry at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. The Trustees accept responsibility for safeguarding the 35sets of the Charity and taking reasonable steps for the pmention and detection of fraud and other irregularities. Reserves The Trustee5 hold the majority of funds as reserves until such time as suitable projects or expenditure are identified to fvlfil the charitable objettsve> Separate reserve5 have been set up for Covid related Grant Monies received. Risk assossment The Trustees actively review the major risks theTwstfaces on a regular basis. As well as considering internal contro15. the Trustees have also examined other operational risks and confirm that systems and initiatives are in place which are regularly reviewed in or(Iw to mitigate those risks. Charitles Bill The Trustees are rninéful of the changes set out in the CharitiesAct 2022 whith received Royal Assent on 24 February 2022 and passed into law. The Act is intended to implement the recommendation5 in the Law Commission's 2017 Report on Technical Issues in Charity Law. The changes are expected to be advanta8eous in simplifying the administration and day to day operations of Charities.
THE MEPPERSHALL VILLAGE HALL Year to 31st March 2022 Page 3 Report of the Trustees - ¢ontsnued New Willage Hall and adjacènt land TheTrustees have Continued to work togetherwith Mepper5hall Parish Council in $pert of negotiating and agreeing terms with the contractor to complete the work5 outstanding on the new Village Hall and the (Parish Council'sl 3djacent land. Settlement tems for payment of financial sums were finally agreed with the contractor at the end of October 2021 to enable the required works to be progressed and managed under the contToI of the Tru5tee5 and Parish Counullors. The work has been contrarted with specialist contractor5 and commenced in Spring 2022. The New Village Hall was handed over on 19 December 2018 and since then has operated forthe benefit ofthe local community including bars. café. Preschool. regular hireT5 for specific activities 2nd indiwduals arran8in8 one-off events. The children's play areas and sports pitches are under CoStruCtion with rectification works to be completed. TheTrustees have access to a fund of monies of just over £68k12021 £73kl remainin8 from completing the sale of land and constCtion work5. This sum is available to the Trustees and the Mepper5hall Parish Council to eet Costs arising in the construction. purchase of equipment, fit out of the New Village Hall. the play area5. 5POrts pitches and leisure facilities. It is intended that a balance will be retained Sufficient to a551St with the running costs in these eady year5 of use. The objertive of theTrnstees and the Parish Council is that the new facilities cover their annual costs out of revenue receNed. Covid-19 The New Village Hall was closed at varioustimes from mid-march 2020 to mid-may 2021, to meet Government GuidÈlinÈs and comply with the law. The income from hiring5 in that period is therefo Substantial redvced compared to normal e%pect3tion5. Financial results Overall thp trustees continue to be very pleased with the range of activities carried on by User Groups and one- off individual hirers each week. However, the CoYid-19 lockdown periods from March 2020 through to mid-2021 meant that a lot of the activities of regular hirers as well as parties. weddings and speaal events were cancelled. The Trustees were successful in securing Covid Support Grant Fundingwhith assisted in coverin8 the fixed operating expen5e5 lin5urance. electrical monitorin& defensive heatin& Tr, required maintenance contracts. 1ntruder & fire alarm services, salary etc.} and additional cost5 of providing è Covid secure environment during the times when it was possible to operate the Willage Hall in that period (signage. disinfectants, sprays etLI. Income in the 12 months to 31 March 2022 w35 £49k12021 £16kl. with operating expenditure of £45k12021 £27kl. re5ultin8 a net surplus of 5USt under E4k12021 defitit £llkl for the year. Covid 5UPPtsrt money received totalled £18k12021 £40kl which has helped meet the costs of lockdowns in the 20201202V2022 years as well as supporting regular hirers with hire fee reductions andlor exceptional flexibility. Thi5 5UPPOrt money has been credited to the Chariws General Reserve Fund5. The lifting of Covid lockdown $trilon5 and speed of rolling out of vacanes has meant that the last half of the financial year ha5 seen a return toward5 the leve15 of expeiienced in the latter part 012019 but with substantial increases in day to day operating costs. In future years costs will be incurred for equipment maintenance and refurbishment works. thus the Trustees are mindful of putting aside monie5 Out of Cowd Support Funding and Hire Fees to meet that expenditure. The Trustees anticipate very significant increases in the costs of gas and electriaty during the financial year comrnencing 1st April 2022 and will continue to wiew both costs and hire charges to ameliorate the impact of those increase5.
THE MEPPERSHALL VILLAGE HALL Year to 31st March 2022 Page 4 Report of the Trustees - continued Review of the year-fv1fi1ling our obiecbNEs and pubfK benefft Details of the actiwties of the Trust are set out above. The yearfs Income and Expenditure together with Balance Sheet are set out on pages 6 to 8 then on pages 9 to 11 the accounting polioes and notes wtth further detsils. The Trustees consider that the objectives of the Charity have been met in the year. albeit curtailed due to the Èffects of Covid restrictions. Approval Thi5 report was approved and signed on behalf of the Trustees. Graham Jones Trustee IOJune 2022
The Meppershall Village Hall Independent examine$ report to the trustees of The Meppershall Village Hall Icharlty Number 3(th521 Year to 31st March 2022 Page 5 I report on the financial statements of the Charity for the year ended 31st Marth 2022, which are set out on page5 6 to 11. Respecbve re4)onsibilities of trustees and examlner The Charity's trustees are responsible for the preparation of the financial statements. The Charitrf5 trtJstee5 consider that an audit is not required foi this year under section 144 of the Charities Att 2011 (the Charities Actl and that an independent examination 15 needed. It is my SPOnsibl11fy to.. examine the financial statements under settion 145 tsf the Charities Att.. follow the procedures laid down in the general Directions given by the Charity Commission under section 14515llbl of the Charities Act- and state whether particular matters have come to my attention. This report, includin8 my statement. has been prepared for and ontyfor the ChariVs trustees as a body. My work has been undertaken so that I might stste to the Chariws irustees ihose matters l am required to state to them in an independent examinerfs report and for no other purpose. To the fullest extent perrnitted by13w. I do not accept or assume responsibility to anyone other than the charity and the Chariws trustees as a body for my examination Wofk, for this report. or for the statements I have made. Basis of independent exarninerfs report My exarnination was carried out in accordance with the general DIOn$ given by the Char¥ty CommissTtsn. An examinatiori include5 a review of the accounting record5 kept by the Chaty and a comparison of the financial statements presented with those records. It also includes consideration of any unusval items or disclosures in the fin2ncial statements and seekin8 explanations from the trustees concerning any Such matters. The procedures undertaken do not provide all the evidence that would be qUId in an audit, and consequently no opinion is'given as to whether the financial statements present a'true and fairviev/ and the report is limited to those rn&tters set out in the statement below. Independent exarninerfs statement In connection with my examination. no matter has come to myattention.. 11 which gives me reasonable cause to believe that in any material respert the requirements.. to keep accounlin8 cOrdS in accordance with section 130 of the Charities A¢ and to prepa financial statements which accord with the accounting records and comply with the accountin8 reqU1ments of the Charities Att have not been met.. or. 21 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financièl ststements to be reached. R T Bodily Chartered Accountsnt Mèchin5 Building 28 Dunstable Road Luton lul IOY 10 lune 2022
MeppershallVllla%e Hall Income and EXndItUre Year to 31 March 2022 Page 6 Year to 31 Mah 2022 Yearto 31 March 2021 INCOME Hirin8s- One off and events Hirings- Bookine Fees 13,267 2.865 27% 6% 16.132 33% 293 107 1% 2% 400 Social Club hire fees paid Social Club BTSport 3,446 12771 6.IKK) 12% 3.169 19% WalnutTree Café 2,575 5% 1.410 8% HirinES- Regular Users Presthool rate & Tots Football Fitness & similarentitie5 Krusader5lKickboxers Players Parish Council Others 9,495 3,312 3,369 2.893 1.582 428 412 19% 8.668 1256 212 510 52% 1% 3% 6% 3% 1% 0% 10,712 64% 21.491 43% saat)n Army- Clothes recycli Pool Table Snooker table Donation5 Bank interest reteived 295 1% 1.322 3% 1,550 3% 176 229 167 0% $34 3% TOTAL INCOME 49.531 100% 16,634 11>0% EXPENDITURE Cleaning & Watte Rernoval Maintenance & Materia15 Hire & M8rketinE services Insuranie, water, power & telephone semces Administration and liceno costs 13.197 9.421 6.364 14.908 L654 27% 5,747 5.553 3,432 12,314 570 13% 30% 3% TOTAL EXPENDITURE 45.543 92% 27,616 166% NET INCOME IDeficrtl FOR THE YEAR 3.988 8X 110.9821 166%) 10.6.2022
Meppershall VillaÈe Ho11 Balan£e Sheet 31 March Z022 Page 7 Notes 31 Marth 2022 31 March 2021 Flxed A%sots Land and Construction of New Willage Hall Equipment & Ftttings 1.747.025 29.142 1.764,943 33,578 1.776.167 1.798,521 Investment- khroder C3zenove lat *dluationl 58.092 Current A55ets DebtOf5 and Monies receiwable Social Club hire+electric Letting5 & hirings Prepaid expenses 977 3.436 3.558 7.971 732 2,141 Money In the bartk Shawbrook Bank- Fixed rate Shawbrook 8ank- 60 day r¢otKe Oeposit account. HSBC Current account- HSBC 38,207 15,261 8,506 3,724 65,698 15.361 5.998 25.118 46.477 Less-. Booking fees received for future events Less.. Future events bookings money receNed Les5.' Datnage & Cleaning Deposits received Less.. Cleaning + ChairsltrdbS away lin advantel 12.47 12.1351 13.0821 12261 19401 11771 11,2031 17.9201 12,3201 t4et Trk balances 38.557 63,378 Total currrent assets 46,527 65,519 Credltor5'. Amounts falllr% due wlthln one year Trade creditor5 Accrued expenses 11,5791 114.6921 116,2711 12411 111,2631 111,5041 Net rash resources available 54,015 Net A55ets 1.852.536 Net cash resources change in the perlod 123.7591 29376 10.6.1022
Meppershall Village Hall statement of funds ofthe tharity.. 31 Mar¢h 2022 Page 8 Al 31 Marth 2022 At 31 Mar¢h 2021 Construction and fit rxrt of New Village Hall Sale and a£qui51tion of Ireeknld land. constmttion of New Village Hall Brought forward Addition5 Less,. Depreciation of related assets 1.764943 1.782,861 117.9181 117.9181 1,747.025 1,764,943 Fundlng of Equlpment & FittinES puicIw5ed Brought forward Additions Less,. Depreciation of lated a55ets 33.578 40,855 17.5081 17,2771 26,070 33.578 General funds Brought forwaid Grant support- Ctsvid Croudace Settletnent Inve5ttnents- change in value Net surplus OT Ideficttl forthe year 54.015 18,065 15.260 92 3,988 24,639 40.358 110.9821 Carried forward 91.420 $4,015 Totsl balances carrled forward 1*64.515 I52,536 The financial ac£ounts on pages 6 to 11 were approved by Trustees on IOJ and signed on their behalf by.. 2022 D C Birch Treasurer and ustee 10.6.2022
THE MEPPERSHALL VILLAGE HALL Year to 31st March 2022 ACCOUNTING POLICIES Page 9 Basis of A¢counting The Financial statements are prepared on an accruals basis so that income and expenditu are reco8nised in the period to which they relate. The Financial Statements have been prepared under the historic cost corniention taking into account the provi5ion5 of the Charities Act 2011 and Financial Reportingstandard Applicable in the UK and Republic of Ireland IFRS 1021. The Finanual Statements are not qUired to be fulty compliantwith FRS 102. Going nCern In preparinethe Financial Ststementsthe trusteesassesswhetheruse of thegoing concern concept is appropriate, i.e. whether there are any material uncertainties related to events or condition5 that may cast Significant doubt on the ability of the Charity to continue as a going concern. The trustees make this assessment in respect of a period of one yearlrorn the date of approval of the Financial Ststements. Donated assets, equipment. facilities or seNices A donètion of a capitèl asset 15 measured èt fair value. unless it is impractical to mea5Ltre this lIablY, in which case the cost of the item tothe donor is used. The valuewill be recognised as partof reserves in the balance sheet and a correspondin8 amount incltFded rn the appropriate fixed asset (ate80ry and depreoated over the usefttl economic life in accordance with the Chariws accounting poIiLy. Cash donations are induded in the income and expenditure account unless received for a specific purpose when they are held in Feserves until the relevant expenditure or asset purchase has been completed. Due to the nature and intended outcome of service5 and assistance provided on a without charge basi5 bv professional advisors. tradesmen or member5 of the public no evaluation of specification or monetary value 15 carried out. Hence no amounts in respect of such services and as5istsn¢eare included in the Financial Statements. Income recognltion Income is measured at the fair value of the consideration received or receivable from the hire of facilities or equipmer¥t. net of discount5. Income is recognised when the hiring has been completed and there 15 an entitlement to receive consideration forthe facilities or equipment provided. Hlre fee payments In advan¢e Booking and hire fee5 received in advance of the date of a hiring are induded in creditors and not taken into accoynt as income until after the hire has been completed. Damages Deposits received are included in creditors until repaid to the hiref or offset against relevant remedial costs incurred. Tangible fixèd a5Sèts Fixed Assets are stated at cost, net of depreciation and any prwston for impairment Assets in the course of construttion are included at Cost as depCiatIon 15 not tharged until these are brought fully into use. Tangible fixed a55ets acquired by way of gift orwith the 3id of specificgrants. are included in the balance Sheet at cost and depreciated over their expetted useful economic life. The related funding value is credited to a serveS account in the balance sheet. Depreciation on those assets is charged to that reserves account. Depreciation of 355ets Depreciation is provided on all tsn£ible fixed assets other than freehold land, at rates calculated to writs off the Cost of each asset on a straight line basis ¢)ver its expected useful life, as follows= 8uildin8s- ILXTryears Equipment. Fixtures and fittin8s-7 to 10 years Depreuation 15 deducted from the appropriate balance sheet resefve which funded the acquisition of the asset. A review for impairment of fixed assets is carried out if events or changes in circumstances indicate that the carrying value rnay Not be recoverable in full. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments and dedutted from the appropriate balance sheet reserves.
THE MEPPERSHALL VILLAGE HALL Page 10 Year to 31st March 2022 ACCOUNTING POUCIES cont/.... Investments Investments are stated at Market Value at the balan Sheet date. Debtors and Creditors Debtors and Creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any 105ses from impaimient or amounts Written off are recognised in the income and expenditure account. Llabilities Liabilities are recognised when there 15 an obligation subsisting atthe balance sheetdate as a result of a past event and it is probable that a payment will be required. tiabilitie5 are reco8nised at the amount expected to be paid to settle the debt. Provisions for potential liabillties Provisions for potential liabilities are made Whe an event has taken place that8ives the Chartty a legal or constructive obligation and a reliable estimate can be made of the amovnt payable. or that May become payable. takin£ into account all relevant facts. legal advice, risks. uncertaintyes and Stsges of negotiation of a settlement 5Urn. Cash at bank Cash at bank is repsented by cash held with UK banks repayable without penalty within 24 hour5 or notice of 60 days or less. Government Covid Support Payrnents or Grants Governrnent Covid support or grants a recogni5ed in an appropriate manner that matthes them with the expenditure towards which they are intended to contribute. Grants for immediate fin3nrial support or to cover Costs already inCUrd are reco8nised imrnediately in the income and expenditure account. Grants towards general actiwtie5 are recognised over the relevant period. Grants towards fixed a55ets are recogntsed over the expected useful lives of the lated a55ets and are troated as deferred income and released to the profit and loss account over the useful life of the asset concerned. All grants are recognised when the conditions for thwr receipt have been complied with. Taxatlon The Trust 15 considered to rneet the definition of è Charity for UK tax purposes. No provision is therefore made for taKation as the Trust is a Registered Charity with tsx exetnpt 5tstu& Critical atcounting estitnates and areas of judgement Estimate5 and judgements applied in preparin8 the Financial Ststements a based on available factlral information, legal and other relevant factor5. expectation of the effects of future events. personal experience and the specific experbse of the Trustees. General Information Details of the Registered Chartty, Meppershall Villa8e Hall. are Set out on page l. The principal activity of the Charity continued to be that of operating and providing a Village Hall for local residents and their familie5 together wlth the related facilities and equipment. The presentation currency of the statements is the Pound Sterling IGBPI. Monetsry amounts are rounded to the nearest whole pound. The significant accounting policies applied in prep3ration of these financial strtements are set out above. These policie5 have been consi5tendy applied to all years unless otherwise ststed.
THE MEPPERSHALLVILLAGE HALL Year to 31st March 2022 NOTES TO THE FINANCIAL STATEMENTS Page 11 l. Fixed Assets land & Equipment New & Flttlngs Villagè Totsl building Cost Brought forward 1.4.2021 Additions 1.791.820 48.525 1.840.345 3.072 3.072 Cost at 31.3.2022 1.791.820 51.597 1.843.317 Depreciation Brought fotward 1.4.2021 Provision for the year 26.877 17.918 14,947 7.508 41,824 25.426 Carried forward 31.3.2022 44,795 22.455 67.250 Net Book Value 31.3.2022 1,747.025 29.142 1.776,167 Net Book Value 31.3.2021 1.764.943 33.578 1.798.521 2. Investments The Investments comprise Units in Stock Market based funds managed by Schroder & Co. LlmTted. tdIng as Cazenove Capital. The investments have been made for the purpose5 of income and growth in v31ue to meet future capitsl expenditu and refvrbishment costs. The inÈtial sum tnvested was £58,0(X). 3. Related party transartions al The following amounts were paid to Indidal trustees or their related partie5 during the year.. Graham Walker= For property maintenance services For hirer support and specific works £1,440 12021 £1,440) £ 4QKI 12021 ENiS1 bl The trustees were reimbursed costs incurred on behatf of Meppershall Willage Hall on a £1 for £1 basis. 4. Independent Examiner Goods to the valve of approx. £99 are provided to the Independent Examiner in respect of the Annual Review carried out.