Trustees’ annual report (including Directors’ report) for the period
From: Period start date 01/10/2023 To: Period end date 30/09/2024
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 organisations |
| 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 building. There was significant unplanned work to replace the boiler for the building after a number of major failures earlier in the year. 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 continue to grow as new rental customers use the building. The charity secured grants from Norman Family Trust, Bernard Sunley Trust and ACRE to help cover a significant part of the cost for replacing the boiler. The charity continues 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 a surplus of over £10.5K of unreserved funds, £1.5K 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 the 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 (if any) |
|---|---|---|---|---|
| John Green | Chair | |||
| Jasper Welzel | Treasurer | |||
| Steve Pearcy | Secretary | |||
| Eva White | ||||
| Mike Bird | ||||
– 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 ~~OS~~
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)
Jasper Welzel
Full name(s) John Green
Position (for example Chair Treasurer
Secretary, Chair, etc)
Date 22/07/2025
05/06/2025
siz
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THE INSTITUTE
Yonder Street, Ottery St Mary, Devon, EX11 1HD
2023/24 Income and Expenditure Account - Full Year Position as of 30th September 2024
| INCO Lettin |
2 ME gs |
023/24 2022/23 2 17,246.70 15,163.00 Unrestricted Funds |
023/24 2022/23 202 0.00 0.00 17,2 Restricted Funds |
3/24 2022/23 46.70 15,163.00 Total Funds |
|---|---|---|---|---|
| Donat | ions and Grants | 0.00 0.00 |
9,211.00 9,950.00 9,2 |
11.00 9,950.00 |
| Other | Income | 71.09 162.42 |
0.00 0.00 |
71.09 162.42 |
| Total | Income |
17,317.79 15,325.42 |
9,211.00 9,950.00 26,5 |
28.79 25,275.42 |
| EXPE Wage |
NDITURE s and Salaries |
7,495.20 7,212.42 |
0.00 0.00 7,4 |
95.20 7,212.42 |
| Prope | rty Costs Water Rates |
165.52 139.68 |
0.00 0.00 1 |
65.52 139.68 |
| Electricity | 1,283.37 1,637.90 |
0.00 0.00 1,2 |
83.37 1,637.90 |
|
| Gas | 2,923.39 2,700.06 |
0.00 0.00 2,9 |
23.39 2,700.06 |
|
| Insurance | 1,437.32 44.78 |
0.00 0.00 1,4 |
37.32 44.78 |
|
| Repairs and Maintenance | 2,678.76 4,595.28 |
9,891.60 15,407.50 12,5 |
70.36 20,002.78 |
|
| Cleaning | 638.97 100.00 |
0.00 0.00 6 |
38.97 100.00 |
|
| 9,127.33 9,217.70 |
9,891.60 15,407.50 19,0 |
18.93 24,625.20 |
||
| Admin | istration Expenses Subscriptions |
384.00 331.20 |
0.00 0.00 3 |
84.00 331.20 |
| Other expenses | 50.00 0.00 |
0.00 0.00 |
50.00 0.00 |
|
| Professional Fees re Payroll and PAYE | 390.00 270.00 |
0.00 0.00 3 |
90.00 270.00 |
|
| Miscellaneous Costs | 0.00 228.84 |
0.00 0.00 |
0.00 228.84 |
|
| 824.00 830.04 |
0.00 0.00 8 |
24.00 830.04 |
||
| Servic | e and Facility Costs Equipment Repairs and Maintenance |
0.00 998.30 |
0.00 0.00 |
0.00 998.30 |
| Licences | 105.12 0.00 |
0.00 0.00 1 |
05.12 0.00 |
|
| 105.12 998.30 |
0.00 0.00 1 |
05.12 998.30 |
||
| Total | Expenditure |
17,551.65 18,258.46 |
9,891.60 15,407.50 27,4 |
43.25 33,665.96 |
| Net In | come(+) Deficit(-) for the Year | -233.86 -2,933.04 |
-680.60 -5,457.50 -9 |
14.46 -8,390.54 |
BALANCE SHEET as at 30th September 2024
| CURR Curre COIF |
2 ENT ASSETS nt Assets Accrued Income |
023/24 2022/23 2 1,417.00 1,144.00 Unrestricted Funds |
023/24 2022/23 202 0.00 0.00 1,4 Restricted Funds |
3/24 2022/23 17.00 1,144.00 Total Funds |
|---|---|---|---|---|
| Prepaid Expenses | 1,483.59 1,437.32 |
0.00 0.00 1,4 |
83.59 1,437.32 |
|
| Deposit Fund | 0.00 0.00 |
0.00 0.00 |
0.00 0.00 |
|
| Barcla | ys Bank Plc-Current Account | 6,202.84 9,226.32 |
7,110.90 7,791.50 13,3 |
13.74 17,017.82 |
| Total | Current Assets | 9,103.43 11,807.64 |
7,110.90 7,791.50 16,2 |
14.33 19,599.14 |
| Less Credit Curre |
: CURRENT LIABILITIES ors SWWplc - Water Rates in Arrears |
-53.05 -152.57 |
0.00 0.00 |
-53.05 -152.57 |
| Eonplc - Electric in Arrears | -568.57 -691.63 |
0.00 0.00 -5 |
68.57 -691.63 |
|
| Eonplc - Gas in Arrears | -1,651.83 809.75 |
0.00 0.00 -1,6 |
51.83 809.75 |
|
| Other Creditors | 5.94 206.69 |
0.00 0.00 |
5.94 206.69 |
|
| nt Liabilities Accruals |
692.97 723.57 |
0.00 0.00 6 |
92.97 723.57 |
|
| Total | Current Liabiities | -1,574.54 895.81 |
0.00 0.00 -1,5 |
74.54 895.81 |
| Total | Net Assets |
10,677.97 10,911.83 |
7,110.90 7,791.50 17,7 |
88.87 18,703.33 |
| REPR INSTI Balan |
ESENTED BY: TUTE ACCUMULATED FUND ce brought forward at Beginning of Year |
10,911.83 13,844.87 |
7,791.50 13,249.00 18,7 |
03.33 27,093.87 |
| Add: | Surplus/Deficit for the Year | -233.86 -2,933.04 |
-680.60 -5,457.50 -9 |
14.46 -8,390.54 |
| Total | Reserves |
10,677.97 10,911.83 |
7,110.90 7,791.50 17,7 |
88.87 18,703.33 |
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 full year to 30th September 2024
Jasper Welzel
John Green Chairman
Date: 22/07/2025
Treasurer
Independent Examiner’s report to the trustees of The Institute
I report on the accounts of the charity for the year ended 30 September 2024, 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:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records ; or
-
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 FCA OF: On Target Accounting Ltd ADDRESS: 105 Chineway Gardens, Ottery St. Mary Devon, EX11 1JJ
SIGNED DATE: 15 July 2025