# **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENT** **FOR THE YEAR ENDED 31[ST] DECEMBER 2023 FOR** **PADWORTH VILLAGE HALL** **DRAFT** ## **Report of the Trustees** The trustees, who are also members of the Padworth Parish Council present their report with financial statements of the Charity (registered number 300187) for the year ended 31[st] December 2023. The annual report and financial statements comply with the requirements of the Statement of Reported Practice Accounting and Reporting by charities. Padworth Village Hall and adjoined playing fields are the sole asset of the registered charity. The property was originally constructed in 1948 and has since undergone a number of renovations and developments. In 1952 the land on which the hall stands was purchased by the Parish Council who hold it in trust for all the residents of Padworth Parish. The premises and land are held in trust to offer a range of activities for people of all ages who live in Padworth and the surrounding area. These activities may include, but are not limited to, social and recreational activities, and the trustees maintain the hall, adjoining land and play area for these and other activities which are deemed to be for the benefit and wellbeing of the local community. ## **Achievement and Performance** Rob to WRITE should include?: - Caretaker’s retirement and new running arrangements - Actions taken to reduce expenditure - Efforts to increase income -raising tariffs, new users/events/social committee, - New booking and invoicing system and updated website - Hosting of Padworth Show and Fireworks - Continued home ground for YMCA Football - Trying new events eg coffee and cake mornings - Progress with Borehole project - Resolution of one boundary dispute - Breaking even when significant loss was projected - Expansion of committee and increased engagement? There has been no new project fund raising activity during 2023, although the funds raised via donations and grants, for the borehole project during 2022 have continued to be spent and it is hoped that the project will be completed in the first quarter of 2024. ## **Financial Review** ## **Accounting Policies** The accounts for the hall are maintained and managed separately from those of the Parish Council and simple cash accounting is the methodology adopted. The trustees acknowledge their responsibilities for: - Ensuring the charity keeps appropriate and adequate accounting records. - Preparing Financial statements that provide a true and fair view of the state of affairs of the charity at the end of each financial year. ## **Review of 2023** ## **See Appendix 1** Despite operational cost challenges, including the very significant increase in energy and utility costs, the Hall succeeded in returning a small profit of £742 for the year (2022 - £6859 loss) In the second half of 2022 the hall saw a large reduction in income for the rental of the attached land to the hall with the loss of residential caravans and container storage. In 2023, this loss of income was successfully replaced with new income streams from new users (eg 3 Scout groups and video gamers), an increase in tariffs and a contribution of £1016 from events put on by the Social committee. The Hall received donations of £5000 from Padworth Parish Council along with grants, donations and match funding relating to the Bore Hole project totalling £51,437. The Bore Hole project will be completed in 2024. The Bore Hole funds are ring fenced and separated from the operational funding. Initial projections for 2024 are indicating a profit as the costs are reduced by the retirement of the caretaker, who will not be replaced (cost £6500 in 2023), a reduction in energy costs and a strong stream of bookings. The Hall has a financial reserves policy which sets a minimum balance of £10,000. This policy was broken in all 4 quarters of 2023 with the knowledge and agreement of the Trustees and Management Committee. (Low balance £4710 Jan 2023) ## **Staff and Trustee remuneration and Benefits** There was no Trustee renumeration or other benefits for the period ending 31/12/2023 There was single employee for the period 01/01/2023 to 31/10/2023 ## **Future Plans (Rob to Agree)** Restricted finances mean that any future plans for the hall are limited to its continued operation and maintenance rather than improving facilities or changing the offering. Priorities for 2024 are: - Stabilise the finances, building a reserve to fund future improvements to the hall. - Consolidate the ‘remote’ operational practices and procedures to allow the hall to be run remotely and at a reduced cost. - Revise and review the role of any future caretaker and if appropriate repurpose the living accommodation. - Complete the Borehole project to ensure the continued supply of water to the property. - Increased engagement with the local community and publicity of Halls services and events ## **Structure and Governance and** ## **Management** The activities and management of the Charity is governed by the revised Constitution 2012. In 2012 the charity’s constitution was revised with the Trusteeship of the land and property passing to Padworth Parish Council as Holding trustees. The Holding trustees have passed responsibility for the day-to-day management of the land and property to a Management Committee formed of volunteers, users and a minimum of 2 Holding Trustees. The Management committee was joined by 2 new members in 2023 and a new Chairman was appointed following the retirement of the previous Chairman and 1 other committee member. The Management Committee provides the Parish Council with a copy of the year end balance sheet and a report summarising the activities and issues of the previous 12 months. The Parish Council donated £5000 to support the activities of the management committee in 2023. ## **Reference and administrative details** Registered Charity Number 300187 ## **Holding Trustees** NEED THE FULL LIST OF PPC MEMBERS Robert Jones (Chairman) John Miller Andrew Griffiths Tommy Tucker ## **Managing Trustees** Robert Jones (Chairman appointed DATE……..) Everly Lee (Secretary) Jacky Jones (Treasurer) Sara Jones Mark Lemm Andrea Shepherd Andrew Griffiths Keith Shaw John Miller Tommy Tucker ## **Financial Reviewer** In accordance with the government guidance regarding the financial review of charities, the accounts have been reviewed by an independent reviewer Terri Powis of 64 Booker Lane High Wycombe and were found to be accurate, appropriately managed and with adequate financial controls in place. Approved by order of the Board of trustees on………………. and signed on its behalf by: …………………………………………….. Robert Jones Parish Council Chairman ## **APPENDIX 1** ## **PADWORTH VILLAGE HALL ACCOUNTS FOR 2023** ## **BALANCE SHEET AS AT 31/12/2023** **Accumulated Fund 31/12/2023 15620.76 Represented by:** Lloyds – Current account 11843.03 Lloyds – Borehole Fund 3474.11 Pre-paid Debit Card 303.62 **15620.76 INCOME AND EXPENDITURE FOR 2023** **Income & Expenditure for 2023 Income** |**Income**||| |---|---|---| ||Hall Hire|19531| ||Field Hire|6203| ||Rental|6440| ||Jumble sales|4347| ||Caravan Leisure|3855| ||Donations|5040| ||Grants – Local Government|0| ||Other|1646| ||Bore Hole grants and|51437| ||donations|| ||**Total**|**98499**| |**Expenditure**||| ||Maintenance of Hall|6398| ||Maintenance of Field|1492| ||Council Tax|929| ||Utilities|22485| ||Insurance|1302| ||Caretaker|6500| ||Admin/other|1555| ||Legal/Consultancy Fees|500| ||Compliance- Fire/Health &|0| ||Safety|| ||Bore Hole development costs|56596| ||**Total**|**97757**| ||**Net Surplus/Defcit**|**742**| **14879.52** ## **Movement in Accumulated Fund – 2023** **Balance as at 01/01/2023** Income for 2023 **98499** Expenditure for 2023 **(97757)** **742 Balance as at 15620.76 31/`2/2023** ## **Accounts prepared by:** ## **J S Jones**