Trustees’ annual report (including Directors’ report) for the period
From: Period start date 01/10/2022 To: Period end date 30/09/2023
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 continued with work to update the decoration of the building. During this reporting year there was major work carried out on the main hall, meeting room 1 and the entrance hall. There were new blinds installed on the windows in the main hall replacing the old velvet curtains. The charity has continued to increase 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
| Financial review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The annual income from rental receipts for the hall have recovered to pre covid levels. The charity secured a grant of £9.9K from the National Lottery - Awards for All to cover the cost of the internal maintenance for the hall. The charity continue to feel the impact 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 policy for holding reserves stating why they are held |
Para 1.22 | The Charity policy is to hold reserves to the value of at least six months to cover the operating costs including salaries of employees of approx. £9K to provide an element of security should revenues be adversely impacted. |
| Amount of reserves held | Para 1.22 | The annual accounts show an unrestricted surplus of approximately £11k, nearly £2k above the stated reserve policy. |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | No funds in deficit |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | The trustees believe that there is no uncertainty with regard continuing as a going concern |
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
| 1 2 3 4 5 6 7 8 9 10 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| John Green | Chair | |||
| Leigh Edwardes | Treasurer | To 07/05/2023 | ||
| Steve Pearcy | Secretary | |||
| Eva White | ||||
| Mike Bird | ||||
| Ron Berry | ||||
| Ellie Pang | To 18/02/2023 | |||
| Jasper Wezel | Treasurer | From 08/05/2023 | ||
– 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
| Trustee name | Dates acted if not for whole year |
|---|---|
| NIL | |
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
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Jasper Welzel
Signature(s) John Green
Jasper Welzel
Full name(s) John Green
Position (for example Chair Treasurer
Secretary, Chair, etc)
Date
09/06/2024
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THE INSTITUTE
Yonder Street, Ottery St Mary, Devon. EX11 1HD
Income and Expenditure Account for the Year Ending 30th September 2023
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Unrestricted Funds Restricted Funds Total Funds
2022/23 2021/22 2022/23 2021/22 2022/23 2021/22
INCOME
Lettings 15,163.00 13,183.00 0.00 0.00 15,163.00 13,183.00
Donations and Grants 0.00 2,667.00 9,950.00 13,249.00 9,950.00 15,916.00
Other Income 162.42 0.11 0.00 0.00 162.42 0.11
Total Income 15,325.42 15,850.11 9,950.00 13,249.00 25,275.42 29,099.11
EXPENDITURE
Wages and Salaries 7,212.42 7,035.00 0.00 0.00 7,212.42 7,035.00
Property Costs
Water Rates 139.68 263.40 0.00 0.00 139.68 263.40
Electricity 1,637.90 717.22 0.00 0.00 1,637.90 717.22
Gas 2,700.06 2,189.64 0.00 0.00 2,700.06 2,189.64
Insurance 44.78 1,295.92 0.00 0.00 44.78 1,295.92
Repairs and Maintenance 4,595.28 7,347.98 15,407.50 0.00 20,002.78 7,347.98
Cleaning 100.00 100.00 0.00 0.00 100.00 100.00
9,217.70 11,914.16 15,407.50 0.00 24,625.20 11,914.16
Administration Expenses
Subscriptions - Quickbooks 331.20 307.20 0.00 0.00 331.20 307.20
Other expenses 0.00 99.76 0.00 0.00 0.00 99.76
Professional Fees re Payroll and PAYE 270.00 240.00 0.00 0.00 270.00 240.00
Miscellaneous Costs 228.84 39.88 0.00 0.00 228.84 39.88
830.04 686.84 0.00 0.00 830.04 686.84
Service and Facility Costs
Equipment Repairs and Maintenance 998.30 802.20 0.00 0.00 998.30 802.20
Licences 0.00 0.00 0.00 0.00 0.00 0.00
998.30 802.20 0.00 0.00 998.30 802.20
Total Expenditure 18,258.46 20,438.20 15,407.50 0.00 33,665.96 20,438.20
Net Income (+) Deficit (-) for the Year -2,933.04 -4,588.09 -5,457.50 13,249.00 -8,390.54 8,660.91
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BALANCE SHEET as at 30th September 2023
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Unrestricted Funds Restricted Funds Total Funds
2022/23 2021/22 2022/23 2021/22 2022/23 2021/22
CURRENT ASSETS
Current Assets
Accrued Income 1,144.00 0.00 0.00 0.00 1,144.00 0.00
Prepaid Expenses 1,437.32 0.00 0.00 0.00 1,437.32 0.00
COIF Deposit Fund 0.00 15.49 0.00 0.00 0.00 15.49
Barclays Bank Plc - Current Account 9,226.32 13,807.62 7,791.50 13,249.00 17,017.82 27,056.62
Total Current Assets 11,807.64 13,823.11 7,791.50 13,249.00 19,599.14 27,072.11
Less : CURRENT LIABILITIES
Creditors
SWW plc - Water Rates in Arrears -152.57 -256.25 0.00 0.00 -152.57 -256.25
Eon plc - Electric in Arrears -691.63 -655.28 0.00 0.00 -691.63 -655.28
Eon plc - Gas in Arrears 809.75 889.77 0.00 0.00 809.75 889.77
Other Creditors 206.69 0.00 0.00 0.00 206.69 0.00
Current Liabilities
Accruals 723.57 0.00 0.00 0.00 723.57 0.00
Total Current Liabiities 895.81 -21.76 0.00 0.00 895.81 -21.76
Total Net Assets 10,911.83 13,844.87 7,791.50 13,249.00 18,703.33 27,093.87
REPRESENTED BY:
INSTITUTE ACCUMULATED FUND
Balance brought forward at Beginning of Year 13,844.87 18,432.96 13,249.00 0.00 27,093.87 18,432.96
Add: Surplus/Deficit for the Year -2,933.04 -4,588.09 -5,457.50 13,249.00 -8,390.54 8,660.91
Total Reserves 10,911.83 13,844.87 7,791.50 13,249.00 18,703.33 27,093.87
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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 2023
John Green
Jasper Welzel
Chairman
09/06/2024
Treasurer
Date:
Independent Examiner’s report to the trustees of The Institute
I report on the accounts of the charity for the year ended 30 September 2023, 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 carrying 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:
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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: 9 May 2024