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2024-03-31-accounts

North Hill Victory Hall

Trustees Report and Accounts

31st March 2024

Charity Registration Number 300578

North Hill Victory Hall

Trustees Report for Year Ended 31st March 2024

The Trustees present their Annual Report and Accounts for the year ended 31st March 2024.

Legal and Administrative

Name of Charity as registered at The Charity
Commission North Hill Victory Hall
Operating name of Charity North Hill Village Hall
Charity Registration Number 300578
Governing Instrument Deed of Gift dated 3rd December 1962 as
amended 8th May 2012
Legal Form Unincorporated charity, registered in England
The Trustees who served during the year: Mr Jonathan Billinge (Chairperson)
Ms Hayley Budge, resigned 24th May 2023
Mrs Mary Budge
Mrs Jen Bousfield
Mr Michael Wright, appointed 16th May 2023
Principal Address of the Charity North Hill Village Hall
North Hill
Launceston
Cornwall
PL15 7PQ
Independent Examiner Mr Richard Randall CEng MICE
Berriowbridge
North Hill
Launceston
Cornwall
PL15 7NL
Bankers Lloyds Bank
13 Broad Street
Launceston
PL15 8AG

North Hill Victory Hall

Trustees Report for Year Ended 31st March 2024

Objects of the Charity

The principal aim of the Charity is to provide buildings, facilities and open space to the general public in and around the Parish of North Hill.

Principal Powers of the Trustees and Committee

The Committee oversees the financial administration by monitoring the Charity income and expenditure. Furthermore the Committee plans and co-ordinates fundraising events.

Appointment of Trustees/Committee members

Trustees may be elected or co-opted in accordance with the governing instrument of the Charity. The committee also includes volunteers.

Achievements During the Year

2023-2024 was a very successful year with the hall being used for a wide range of activities and a good range of events. The parish show returned in its usual format after last year's post-Covid restricted event and was very well attended. The planned refurbishment funded by Covid-related grants was completed with external decoration and cladding and the hall is now in very good condition.

With the assistance of a small grant from Cornwall council, a waterproof cupboard has been installed in the hall porch for use as a book store, particularly for children. Residents can donate and take books and the cupboard is already full.

The trustees were touched and delighted to hear that Mr Ron Barnes, a long-term North Hill resident and hall supporter, had left the hall a legacy of £155,670. Mr Barnes passed away at a great age, having been very active in the village into his nineties. The trustees have invested the money in interest-bearing accounts and plan to use it only for capital projects with long-term benefit. The interest income will be significant in itself and the hall will have more than comfortable reserves to deal with any unexpected maintenance issues for the foreseeable future. Two benches in memory of Mr Barnes and his late wife are planned, which will provide welcome seating outside the hall.

Financial Review of the Period

The Statement of Financial Activities shows a surplus for the year of £152,134, compared with a deficit of £2,157 for the previous year. The surplus was due to a legacy of £155,670 received from a North Hill resident. Without the legacy there would have been a deficit of £3,536. There was a small surplus from regular activities, but £5,042 costs were incurred due to the completion of refurbishment works begun in the previous year, which were made possible by Covid-related grants. The legacy ensures that the hall will be financially secure for the foreseable future and more building improvements will be possible. Net fundraising was £2,676 (2023:£1,961).

Most of the legacy has been invested in interest-bearing 32 and 95 day notice accounts. The trustees consider it should be used for projects delivering long-term benefits.

North Hill Victory Hall

Trustees Report for Year Ended 31st March 2024

(continued)

Reserves Policy

A review of the hall's financial position is carried out on a monthly basis with the Treasurer providing a report to the Management Committee on the income and expenditure for the previous month. Historically, the Committee has aimed to ensure that overheads incurred in the operation of the hall are more than covered by its rental income, allowing monies raised from other activities to be used for the improvement of the hall. The Committee considers that reserves of £2,500 are sufficient to enable the Charity to continue its objectives.

As at 31st March 2024 the Charity's total unrestricted reserves were £187,853 (2023: £35,690). Unrestricted free reserves available for spending after allowing for fixed assets as at 31st March 2024 were £163,314 (2023: £11,118).

Major Risks

The major risks to which the charity is exposed as identified by the Trustees and Committee continue to be reviewed and systems have been established to mitigate those risks.

Activities for the Public Benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives in planning future activities.

The following are some of the user groups that used the hall on a regular basis during the year to 31st March 2024:

The hall and its facilities are available to hire on an hourly basis at competitive rates, making it accessible to all users.

Annual Accounts

The accounts comply with statutory requirements, the governing document and the statement of recommended practice.

North Hill Victory Hall

Trustees Report for Year Ended 31st March 2024

(continued)

Trustees' Responsibilities in relation to the financial statements

The Trustees are responsible for preparing the financial statements in accordance with applicable law and accounting standards Charities SORP March 2018 (FRS102 with Update Bulletin1)

Law applicable to Charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the Charity's financial activities during the year and of the financial position at the end of the year. In preparing financial statements which give a true and fair view the Trustees should follow best practice and:

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and which enable them to ensure that the financial position of the statements comply with the charities Act 2011 and the Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the Charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board of Trustees on

and signed on their behalf by:

Mr J Billinge

North Hill Victory Hall

Statement of Assets and Liabilities as at 31st March 2024

Note
FIXED ASSETS
Property and buildings
2
Equipment
2
CURRENT ASSETS
Cash at bank and in hand
Debtors
3
Total current Assets
CURRENT LIABILITIES
Creditors
4
Net Current Assets
Total Assets Less Current Liabilities
RESERVES
Unrestricted funds
Restricted Funds
16		 21,571
3,053
#REF!
120
#REF!
242
#REF!
#REF!
187,853
85
187,938
2024		 21,571
3,053
#REF!
120
#REF!
242
#REF!
#REF!
187,853
85
187,938
2024		 21,311
3,375
11,236
120
11,356
238
11,118
35,804
35,690
114
35,804
2023		 21,311
3,375
11,236
120
11,356
238
11,118
35,804
35,690
114
35,804
2023
#REF!
242		 11,356
238
#REF! 35,804
187,853
85		 35,690
114
187,938 35,804

Approved by the Board of Trustees on

2024 and signed on their behalf by

Mr J Billinge

North Hill Victory Hall

Statement of Financial Activities for the Year Ended 31st March 2024

Note Restricted Unrestricted 2024 2023
Fund Fund
£ £ £ £
Incoming Resources
Donations and legacies 13 - 155,920 155,920 250
Fundraising and events 5 - 4,850 4,850 4,572
Rents received - 3,555 3,555 3,776
Interest received - 396 396 -
Grants received 7 260 - 260 -
Gift Aid - 128 128 171
Other incoming resources 6 - 398 398 374
Total Incoming Resources 260 165,247 165,507 9,143
Less: cost of raising funds
Fundraising expenses 5 - 2,174 2,174 2,611
Net Incoming resources available for
charitable expenditure 260 163,073 163,333 6,532
Less:
Charitable activities 8,16 289 10,910 11,199 8,689
Total Resources Expended 289 10,910 11,199 8,689
Net income/(deficit) (29) 152,163 152,134 (2,157)
Balance brought forward 114 35,690 35,804 37,961
Balance carried forward £ 85 187,853 187,938 35,804

North Hill Victory Hall

Notes to the Accounts

For the year ended 31st March 2024

1 Accounting Policies

Basis of preparation and assessment of going concern

The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The accounts (financial statements) have been prepared to give a "true and fair " view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a "true and fair" view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The trust constitutes a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.

Incoming Resources

All income is included in the SOFA gross of any expenditure. The income is recognised in the accounts when it is received into the Charity bank account. No income resources are deferred.

Resources Expended

All resources expended are included in the SOFA and are recognised when incurred.

Debtors and Creditors

Debtors are identified as monies paid out by the charity by way of a deposit.

Creditors are amounts identified as outstanding at the year end. This also consists of hall key deposits received by the charity from the organisations that use the hall.

Donations, legacies and grants

Donations, legacies and grants are recognised in the accounts when they are received by the Treasurer.

Fixed Asset Policy

It is the charity's policy to only capitalise assets that have cost over £250. Equipment is depreciated at the annual rate of 25% of the reducing balance in order to write it off over its estimated economic useful life of 15 years.

The buildings within the accounts represent costs associated with the Village Hall. The Trustees believe that the value of the Hall is in excess of the cost shown and consequently no depreciation has been charged. The Hall is maintained to a high standard to protect its value.

The Village Hall is not shown at market value because it is being used for charitable purposes rather than as an investment asset. This is a departure from normally accepted accounting standards.

North Hill Victory Hall

Notes to the Accounts

For the year ended 31st March 2024

Land and

ts
Cost
As at 31st March 2023
Additions
As at 31st March 2024
Depreciation
As at 1st April 2023
Charge for the year
As at 31st March 2024
Net Book Value
As at 31st March 2024
As at 31st March 2023
Other debtors
Accruals
ng and Events
Unrestricted Fund
Whist drives
Halloween Disco
Beetle Drive
Uranium glass talk
Table top sale
Coronation party
Quiz
Parish Show
Camp Theatre
Christmas Fayre
Christmas Bingo
Other Incoming Resources
Unrestricted Fund
Electricity meter
Grants received
Restricted Fund
Cornwall council		 Income
2,883
62
92
295
180
18
126
638
-
315
241		 Buildings
Equipment
Total
21,311
21,312
42,623
260
696
956
21,571
22,008
43,579
-
(17,937)
(17,937)
-
(1,018)
(1,018)
-
(18,955)
(18,955)
£21,571
£3,053
£24,624
£21,311
£3,375
£24,686
2024
2023
£120
£120
2024
2023
£242
£238
Expenses
2024
2023
1,604
1,279
884
-
63
-
-
92
-
-
295
-
-
180
-
-
18
-
-
126
117
430
208
218
-
-
129
-
315
-
140
101
613
4,850
2,174
2,677
1,961
2024
2023
£398
£374
2024
2023
£260
£0

2 Fixed Assets

3 Debtors

4 Creditors

5 Fund Raising and Events

6

7

North Hill Victory Hall

Notes to the Accounts

For the year ended 31st March 2024

8 Charitable Activities

Activities
Unrestricted fund
Cleaner
Electricity
Water Charges
Telephone
Performing Rights
Insurance
Repairs & Renewals
Website costs
Independent Examiners Fees
Depreciation
Restricted Fund
Grant-funded equipment and costs
Depreciation
f Net Assets by Fund
2024
Fixed Assets
Net current assets
2023
Fixed Assets
Net current assets		 2024
2023
1,391
1,436
1,465
1,344
435
5
103
79
155
139
569
528
5,786
3,800
17
16
-
-
989
1,304
10,910
8,651
260
-
29
38
289
38
Restricted
Unrestricted
Fund
Fund
85
24,539
-
#REF!
85
#REF!
114
24,572
-
11,118
114
35,690

9 Analysis of Net Assets by Fund

10 Taxation

North Hill Village Hall is a Registered Charity and the results of its normal activities are not liable to Corporation Tax

11 Trustees Remuneration and Expenses

One of the trustees continued to provide a cleaning service at the market rate. The amount paid to the trustee (who resigned part-way through the year) for this amounted to £1,391 during the year. With this exception the trustees all gave freely their time and expertise without any form of remuneration or other benefit in cash or kind (2022:£nil). Four trustees were reimbursed for out of pocket expenses totalling £502 (2023: £520). The husband of a trustee carried out some hedge cutting and gutter clearance for which he was paid £60.

12 Donated Goods and Volunteers

The charity receives a lot of help from its supporters, who give their time freely and often donate small goods such as cakes and raffle prizes. No entries have been made in the financial statements to reflect this as the amount cannot be quantified.

North Hill Victory Hall

Notes to the Accounts

For the year ended 31st March 2024

13 Unrestricted fund

The general fund is to be used for the objects of the charity. It has arisen through general fundraising activities and donations received. In 2024 a legacy was received from a North Hill resident of £155,670 (2023:£nil). Neither the legacy or the regular anonymous annual donation of £250 had any restrictions placed on their use.

14 Independent Examiner Fees

----- Start of picture text -----
2024 2023
- -
Independent Examiner Fees
- -
----- End of picture text -----

15 Related Party Transactions

During the year there were no related party transactions other than as detailed in note 11.

16 Restricted Fund

The restricted fund consists of the following balances:

----- Start of picture text -----
Balance b/f Income Expenditure Transfers Balance c/f
Heating upgrade 114 - 29 - 85
----- End of picture text -----

Donations totalling £360 were received for a heater upgrade in the hall. These are included on the balance sheet within the statement of assets and liabilities under equipment. The restricted fund is being released in line with depreciation over the useful life of the asset.

A grant was received of £260 from Cornwall County Council of £260 to cover the installation of a library cupboard at the hall to be used for residents to donate and borrow books, particularly those for children. No restricted fund is carried forward since the cupboard cost was less than the minimum capitalisation value of £250, the balance of the grant being used for associated expenses.

Independent Examiner's report to the trustees of North Hill Victory Hall For the year ended 31st March 2024

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 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 explanations from 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 matter has come to my attention

Richard Randall CEng MICE Date: …........................................ Berriowbridge North Hill Launceston Cornwall PL15 7NL