Trustees’ annual report (including Directors’ report) for the period
From: Period start date 01/09/2021 To: Period end date 31/08/2022
Charity name: The Institute
Charity registration number: 300921
Company number:
Objectives and activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | Provision and maintenance of a community building for use by local organizations |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
Providing The Institute for a wide range of community groups, associations, community market, community theatre and a large number of functions for residents of Ottery St Mary. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | All trustees complete a trustee declaration and are provided with a copy of the trust constitution along with the Charity Commission basics of charity trustee that explains the requirements for trustees |
Achievements and performance
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | The charity has embarked on major improvements to the building. There has been no significant expenditure on the fabric of the building over the past 15 years. The outside of the building has had a major makeover and redecoration. There were significant extra expenditure required to rectify failing plasterwork. The charity has reviewed the rental costs for use of the building to bring the hire charges in line with other comparable venues in the town. However, the trustees were very mindful to ensure that we maintained a lower differential rate for local groups and individuals hiring for family parties and wider community use. |
|---|---|---|
Financial review
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Review of the charity’s Para 1.21 The annual income from rental receipts for
financial position at the end the hall have recovered to pre covid levels.
of the period The charity secured grants of nearly £16K to
cover the cost of essential maintenance for
the hall.
The charity have been impacted by an
increase in the cost of utilities and have
increased hall rental costs to help minimise
the impact on the finances for the charity
Statement explaining the Para 1.22 The Charity policy is to hold reserves to the
policy for holding reserves value of at least six months to cover the
stating why they are held operating costs including salaries of
employees of approx. £6K to provide an
element of security should revenues be
adversely impacted.
Amount of reserves held Para 1.22 The annual accounts show a surplus of
£8.6K, nearly £3K above the stated reserve
policy. However, we expect further
increased adjustment to the utility costs.
Reasons for holding zero Para 1.22
N/A
reserves
Details of fund materially in Para 1.24
deficit
No funds in deficit
Explanation of any Para 1.23
The trustees believe that the is no
uncertainties about the
uncertainty with regard continuing as a going
charity continuing as a going
concern
concern
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Structure, governance and management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document: for example,trust deed, memorandum and articles of association etc |
Para 1.25 | Deed of Trust |
| How is the charity constituted? for example limited company, unincorporated association, CIO |
Para 1.25 | Registered Charity |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Members of the Ottery St Mary community can apply to become trustees. Each trustee completes a Trustee declaration. The Chair, Secretary and Treasurer are elected annually at the AGM |
Reference and administrative details
| Charity name | The Institute |
|---|---|
| Other name the charity uses | None |
| Registered charity number | 300921 |
| Charity’s principal address | Yonder Street, Ottery St Mary, EX11 1HD |
Names of the charity trustees who manage the charity
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Dates acted if not for whole Name of person (or body) entitled
Trustee name Office (if any)
year to appoint trustee (if any)
1 John Green Chair
2 Leigh Edwardes Treasurer
3 Steve Pearcy Secretary
4 Eva White
5 Mike Bird
6 Ron Berry
7 Ellie Pang
8
9
10
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– Corporate trustees names of the directors at the date the report was approved
Director name
NIL
Name of trustees holding title to property belonging to the charity
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Trustee name Dates acted if not for whole year
NIL
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Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity NONE
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian NONE charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets NONE
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Not applicable
Declarations
The company has taken advantage of the small companies’ exemption in preparing the report above.
The trustees declare that they have approved the trustees’ report (including directors’ report) above.
Signed on behalf of the charity’s trustees/directors
Signature(s) Full name(s) John Green Position (for example Chair Secretary, Chair, etc)
Date 05/07/2023
THE INSTITUTE
Yonder Street, Ottery St Mary, Devon. EX11 1HD
INCOME AND EXPENDITURE ACCOUNT for the Year Ending 30th September 2022
| INCOME Lettings Donations and Grants Investment Income Total Income EXPENDITURE Wages and Salaries Property Costs Water Rates Electricity Gas Insurance Repairs and Maintenance Cleaning Administration Expenses Subscriptions - Quickbooks Other expenses Professional Fees re Payroll and PAYE Miscellaneous Costs Service and Facility Costs Equipment Repairs and Maintenance Licences Net Income (+) Deficit (-) for the Year |
021/22 2020/21 2 13,183.00 4,665.50 2,667.00 1,948.00 1 0.11 0.85 15,850.11 6,614.35 1 7,035.00 4,992.00 263.40 230.10 717.22 531.30 2,189.64 673.05 1,295.92 1,229.63 7,347.98 2,122.55 100.00 340.17 11,914.16 5,126.80 307.20 283.20 99.76 240.00 240.00 39.88 43.00 686.84 566.20 802.20 503.14 0.00 0.00 802.20 503.14 20,438.20 11,188.14 -4,588.09 -4,573.79 1 Unrestricted Funds |
021/22 2020/21 202 0.00 0.00 13,1 3,249.00 0.00 15,9 0.00 0.00 3,249.00 0.00 29,0 0.00 0.00 7,0 0.00 0.00 2 0.00 0.00 7 0.00 0.00 2,1 0.00 0.00 1,2 0.00 0.00 7,3 0.00 0.00 1 0.00 0.00 11,9 0.00 0.00 3 0.00 0.00 0.00 0.00 2 0.00 0.00 0.00 0.00 6 0.00 0.00 8 0.00 0.00 0.00 0.00 8 0.00 0.00 20,4 3,249.00 0.00 8,6 Restricted Funds |
1/22 2020/21 83.00 4,665.50 16.00 1,948.00 0.11 0.85 99.11 6,614.35 35.00 4,992.00 63.40 230.10 17.22 531.30 89.64 673.05 95.92 1,229.63 47.98 2,122.55 00.00 340.17 14.16 5,126.80 07.20 283.20 99.76 0.00 40.00 240.00 39.88 43.00 86.84 566.20 02.20 503.14 0.00 0.00 02.20 503.14 38.20 11,188.14 60.91 -4,573.79 Total Funds |
|
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| 2 |
BALANCE SHEET as at 30th September 2022
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Unrestricted Funds Restricted Funds Total Funds
2021/22 2020/21 2021/22 2020/21 2021/22 2020/21
CURRENT ASSETS
Debtors
SWW plc - Water Rates in Advance 256.25 519.65 0.00 0.00 256.25 519.65
Eon plc - Electric in Advance 655.28 721.10 0.00 0.00 655.28 721.10
Eon plc - Gas in Advance 0.00 632.85 0.00 0.00 0.00 632.85
COIF Deposit Fund 15.49 6,315.38 0.00 0.00 15.49 6,315.38
Barclays Bank Plc - Current Account 13,807.62 10,243.98 13,249.00 0.00 27,056.62 10,243.98
14,734.64 18,432.96 13,249.00 0.00 27,983.64 18,432.96
Less : CURRENT LIABILITIES
SWW plc - Water Rates in Arrears
Eon plc - Electric in Arrears
Eon plc - Gas in Arrears 889.77 0.00 0.00 0.00 889.77 0.00
889.77 0.00 0.00 0.00 889.77 0.00
13,844.87 18,432.96 13,249.00 0.00 27,093.87 18,432.96
REPRESENTED BY:
INSTITUTE ACCUMULATED FUND
Balance brought forward at Beginning of Year 18,432.96 23,006.75 0.00 0.00 18,432.96 23,006.75
Add: Income Surplus for the Year -4,588.09 -4,573.79 13,249.00 0.00 8,660.91 -4,573.79
Less: Deficit for the Year
13,844.87 18,432.96 13,249.00 0.00 27,093.87 18,432.96
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The Financial Statements as detailed above have been prepared from the books and records maintained throughout the Financial Year, and present a true and fair state of affairs of the financial situation of the INSTITUTE, Ottery St. Mary, for the year to 30th September 2022
J. GREEN Chairman
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J. WELZEL
Treasurer 26th Jul 2023
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Independent Examiner’s report to the trustees of The Institute
I report on the accounts of the charity for the year ended 30 September 2022, which are set out on the attached pages.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’)
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carry out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records ; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and 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.
NAME: Sam Blackford ACA OF: On Target Accounting Ltd ADDRESS: 105 Chineway Gardens, Ottery St. Mary Devon, EX11 1JJ SIGNED DATE: 28 July 2023