Pitstone Memorial Hall Registered Charity: 300318
Trustees Annual Report
The trustees of the charity present their report and financial statements for the year ended September 30[th] 2023.
Reference and Administrative details
Name: Pitstone Memorial Hall Registered Charity: Number 300318 Principle Address: Pitstone Memorial Hall Vicarage Road Pitstone Buckinghamshire LU7 9EY
Objectives and Activities
The provision and maintenance of a Memorial Village Hall (the Hall) and facilities ancillary thereto for the use of the inhabitants of the Parish of Pitstone and the immediate neighbourhood thereof without distinction of sex or of political, religious or other opinions, including use for meetings, lectures and classes and for other forms of recreation and leisure-time occupation including food and beverage facilities.
The Trustees are keen to work alongside the Pitstone Parish Council, local sports clubs and groups and provide services and facilities that allow greater interaction between all parts of the local community. In planning activities for the year, the Trustees confirm that they have given due regard to the Charity Commission’s legislative and regularity requirements to comply with Section 17 of the Charities Act 2011.
The Trust financial objective is to maintain the Hall and to improve the facilities that it is able to provide to the Community.
Achievements and Performance
The Trustees created Pitstone Trading Limited to run a community bar (Heroes). Trading entirely independently from the Hall charity, but donating 100% of its profits to the Hall charity. Heroes opened to the public in March 2023 and has been a huge success.
The Trustees and Pitstone Picture House have joined together to reintroduce a monthly Movie Night which is well supported. Other community fundraising initiatives include monthly Bingo, quarterly quiz nights, table top sales as well as our annual Christmas Fayre and New Years Eve party.
Financial Review Summary
Total Income: £ 50,631 Total expenditure £ 58,813
The Trustees are content that the financial position of the Charity is in line with the Financial Policy and that there are sufficient funds to maintain it as a going concern.
The results for the year ended 30 September 2023 show a loss of £8,182 for the period. The deficit is mainly attributed to the 2022/23 energy crisis, where our utility costs escalated considerably. Trustees increased hire rates by 10% to ameliorate some of the deficit. A 0% interest arrangement to repay our energy debt over eighteen months was arranged with Eon in November 2023. The debt is due to be completely repaid by April 2025.
The previous accounting year ending in September 2022 had a deficit of £15,320. This is calculated on a cash basis (money actually received less amounts paid in the period) and is subject to an Independent Examination before submission to the Charity Commission.
As of 30 September 2023, the Hall had a total cash balance of £17,070. Included in the calculation is net income from Heroes bar of £3,000. The Hall insurance has been renewed at £4,294.69 per annum. The Hall Bookkeeper resigned due to ill health. The trustees subcontracted the administration of all bookkeeping services in November 2023.
Following significant investment in repairs and maintenance during the year ending September 2022 (£16,765). We were able to reduce our repair and maintenance investment to £5,566 for the accounting period ending September 2023.
The accounts for the period ending 2023 were prepared by Creasy and Co. (Chartered Accountants).
The financial Statement and notes are included in Annex
Structure, Governance and Management
Registration history: 02 July 1962: Standard registration Organisation type: Unincorporated Charity Other names: No other names
Gift aid: Not recognised by HMRC for gift aid Other regulators: No information available
Policies:
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Financial Policy
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Conflicting interests
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Paying staff
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Safeguarding vulnerable beneficiaries
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Onboarding New Trustees
Land and property: The Charity leases land and Property from the local authority at a peppercorn rent.
Trustees are appointed, elected or seconded as per Annex 2 Trustees are not permitted to make any financial gain from the Trust.
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees.
Signature:
Name: Karen-Anne Fisher
Position: Interim Treasurer
Date: July 28th 2024