Ferndown Village Hall
Report and Unaudited Financial Statements
for the year ended 29 February 2024
Charity Number 301135
Ferndown Village Hall
Content of the Financial Statements For the Year Ended 29 February 2024
| Page | |
|---|---|
| Chairman’s Report | 1 |
| Report of the Management Commitee | 2 -4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Actvites | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8-11 |
| Detailed Statement of Financial Actvites | 12 |
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Ferndown Village Hall Report of the Trustees For the Year Ended 29 February 2024
The Trustees present their report with the financial statements of the charity for the year ended 29 February 2024. The Trustees have adopted the provisions of the Accounting and Reporting by the Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ( effective 1 January 2015)
OBJECTIVES AND ACTIVITIES
The objectives of the charity as set out in its governing document are to provide facilities to organisations in the Parish of Hampreston and the District of Ferndown.
Ferndown Village Hall offers an affordable venue for the community of Ferndown and the surrounding area. The building which was extensively refurbished in 2010, is located on the corner of Mountbatten Drive and Church Road close to the centre of Ferndown. It is home to many clubs and groups and is used regularly for a range of activities, including Adult Education, Craft groups, Drama groups, Fitness classes, Musical groups, various support groups including Alcoholics Anonymous and Slimming World, Training sessions for NHS, DVLA , and Dorset County Council, University of the Third Age, Yoga, Dance classes and Churches.
The Trustees have referred to the Charity Commission’s guidance on public benefit when reviewing aims and objectives and when planning future activities. Since the charity’s facilities are generally available to voluntary and community organisations in Ferndown and the surrounding area and charges for the use of the facilities are affordable, the Trustees are satisfied that the charity meets the Charity Commission’s public benefit test.
ACHIEVEMENT AND PERFORMANCE
Charitable Activities
There is a growing demand for the use of the hall by local voluntary groups and the residents of Ferndown. The considerable investment in the building and its facilities over current and previous years means that the hall offers an attractive venue for local groups.
Overall the village hall continues to play an important role in providing a focal point and home for voluntary and community activities in Ferndown. The Trustees are committed to ensuring that, through good management and continuous investment in the facilities , the hall will continue for play this vital role.
FINANCIAL REVIEW
The charity’s income for the year was £ :56,592 ( 2023: £63,173). The Hall’s income continues on a respectable level. .
Expenditure has been kept to a realistic level within the constraints of the income. There are projects in the pipeline such as Solar panels which will assist on the energy usage. However, researching this has taken a great deal of time.
2
Ferndown Village Hall Report of the Trustees For the Year Ended 29 February 2024
The Trustees’ continuing aim is to retain sufficient cash funds within the Charity’s bank account to provide adequate working capital to sustain day-to-day operations , provide funding for the replacement of assets as they come to the end of their working life and to ensure that it can afford repair and renewal costs as they arise. These form the general reserves of the charity.
As of 29 February2024 the charity’s cash reserves were £ 111,138 : ( 2023 : £81,082) This figure comprising of £111,138 (2023: £ 81,082) in general funds. There were no restricted funds. Due to the increased level of our Reserves it was prudent to move the majority of the funds to an interest bearing account which is shown in the accounts.
STUCTURE, GOVERNANCE AND MANAGEMENT
The charity is controlled by its governing documents deed of trust, and constitutes the unincorporated charity.
Ferndown Village Hall is governed by a transfer and trust deed dated 29 February 1934. This was updated on 21[st] July 2021 by a supplementary Constitutional Deed which was approved by the Charity Commission on 11[th] February 2022 and brings the Charity up to date and in line with current legislation.
It is a member-ship based organisation with members comprising of organisations located in the Parish of Hampreston and the district of Ferndown.
The overall general Management and control of the Charity and the premises rests with the Trustees who are elected for a three -year term. The election to the Board of Trustees is made at the Annual General Meeting by the Users. . They must be 18 years or over.
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Ferndown Village Hall Chairman’s Report Year Ended 29 February 2024
This year I am pleased to be able to report that we have had another good year and our overall bookings are better than last year and we are now virtually fully booked in our hall and our other rooms are doing very well.
We have recommenced our strategy of repairs and improvements to the overall facilities as well maintaining a good Reserve Fund needed to ensure we can continue to maintain this property that is not getting any younger.
We have completely upgraded our ANPR camera system and hopefully most of the initial teething problems are now resolved.
With the cost of energy ever increasing we are investigating with the help of Dorset Energy, Solar Panels as an alternative heating system to see if we can install a viable new system.
We do have plans to continue to improve the facilities during the coming year. We are currently looking at redecorating further as required as well as the constant flow of maintenance.
The Trustees are extremely cost conscious. As a result of which the Trustees are endeavouring to keep our charges unchanged for yet another year. Increased usage means increased costs. Heating and lighting being our greatest cost along with cleaning.
The Hall is backed by an extremely dedicated team which ensures that the venue continues to operate and hopefully provides a superb location for a significant variety of clubs in the local area.
Finally, the Trustees would like to thank all our users for their continued support which is essential to the existence of the Village Hall.
The Village Hall is for the benefit primarily for the people of Ferndown and the immediate locality. We are endeavouring to keep it that way.
Mike Jasper Chairman
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Ferndown Village Hall
Statement of Financial Activities (including Income and Expenditure Account) For the Year Ended 29 February 2024
| Note Income from : Grants and Donatons Charitable Actvites Investments Total 3 Expenditure on: Raising Funds Charitable Actvites Total 4 Net Income(Expenditure) Transfer between Funds Net Movement in funds Reconciliaton of Funds Total Funds brought forward Total Funds carried forward |
Unrestricted Funds Unrestricted Funds Restricted Funds Restricted Funds Total Funds Total Funds 2024 2023 2024 2023 2024 2023 £ £ £ £ £ £ 320 9,486 -- -- 320 9,486 54,273 53,671 -- -- 54,273 53,671 1,999 16 -- -- 1,999 16 |
|---|---|
| 56,592 63,173 -- -- 56,592 63,173 |
|
| 26,707 33,079 -- -- 26,708 33,079 |
|
| 26,707 33,079 -- -- 26,707 33,079 |
|
| 29,885 30,094 -- -- 29,885 30,094 --- --- --- -- |
|
| 29,885 30,094 -- -- 29,885 30,094 948,204 918,110 -- - -- 948,204 918,110 |
|
| £978,089 £948,204 -- -- £978,089 £948,204 |
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Ferndown Village Hall Balance Sheet 29 February 2024
| Note Fixed Assets 6 Current Assets Debtors 7 Accrued Income and Prepayments 7 Cash at Bank Creditors: amounts falling due in one year 8 Net Current Assets Net Assets Reserves 9 Restricted Funds Unrestricted Funds Total Funds |
4,520 1,988 111,138 |
2024 £ 863,589 117,646 3,146 114,500 £978,089 -- 978,089 £978,089 |
2023 £ 865,468 4,250 1,890 81,082 |
|---|---|---|---|
| 87,222 4,486 |
|||
| 82,736 | |||
| £948,204 | |||
| -- 948,204 |
|||
| £948,204 |
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Ferndown Village Hall
Notes to the Unaudited financial statements for the year ended 29 February 2024
1. Accounting Policies
-
a) Basis of Preparation
- The financial statements have been prepared in accordance with the Charities SORP(FRS 162) Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). Financial Reporting Standard 102 ‘ The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value.
-
b) Preparation of the accounts on a going concern basis
- At the time of approving the accounts the Trustees have considered that there are no material uncertainties about the Charity’s ability to continue. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.
-
c) Grants are recognised in the Statement of Financial Activities in the year to which they relate. Generally, grants have conditions attached that create a service that must be met by the Charity and accordingly are included as incoming resource from charitable activities.
-
d) Resources expended are recognised in the period in which they are incurred.
-
Resources expended include attributable VAT which cannot be recovered.
-
e) Resources expended are allocated to the particular activity where the cost including staff salaries relates directly to that activity.
-
f) Depreciation is provided at rates calculated to write off the cost of each asset either. over its expected useful life which is estimated to be at 5 years (3 years in respect of computers) or over the period covered by the grant receivable which maybe 3 years or less.
-
g) Unrestricted funds are other incoming resources receivable without specific purpose, budgetary conditions or contracts and are available as general funds.
-
h) Restricted funds are to be used for specific purposes as laid down by the grantor Expenditure which meets these criteria is charged to the fund together with a fair allocation of management and support costs.
8
Ferndown Village Hall
Notes to the Unaudited financial statements for the year ended 29 February 2024
| 2 Net Incoming Resources for the year This is stated afer creditng and charging Bank Deposit interest received Depreciaton 3 Incoming Resources Charitable Actvites Grants Donatons Investments |
2024 £ £ 1,999 £ 1,879 54,273 -- 320 1,999 £56,592 |
2023 £ £ 16 |
|---|---|---|
| £ 3,499 | ||
| 53,671 9,477 9 16 |
||
| £63,173 |
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Ferndown Village Hall
Notes to the Unaudited financial statements for the year ended 29 February 2024
| 4. Expenditure on Charitable Actvites: Premises Repairs General Administraton Depreciaton 5.No Trustee received any remuneraton in this year or the previous year Trustees are not reimbursed for travel costs. 6. Tangible Fixed Assets Cost Brought forward Additons Carried forward Depreciaton Brought forward Charge for the year Adjustments for Disposals Carried forward Net Book Value 29 February 2024 7. Debtors: Amounts falling due within one year Contract Income Receivable Accrued Income Prepayments 8. Creditors: Amounts falling due within one year Income received in Advance Accruals |
2024 £ 12,504 8,769 3,555 1,879 £ 26,707 £ 884,382 - 884,382 18,914 1,879 20,793 £ 863,589 £ 4,520 460 1,528 £ 6,508 1,069 2,077 £ 3,146 |
2023 £ 12,639 13,918 3,023 3,499 |
|---|---|---|
| £ 33,079 | ||
| £ 883,785 597 |
||
| £ 884,382 | ||
| 15,415 3,499 - |
||
| £ 18,914 | ||
| £ 865,468 | ||
| £ 4,250 - 1,890 |
||
| £ 6,140 | ||
| 1,254 3,232 |
||
| £ 4,486 |
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Ferndown Village Hall
Notes to the Unaudited financial statements for the year ended 29 February 2024
9. Reserves
| Brought forward 1 March 2023 Transfer between Reserves Surplus( defcit) of income over expenditure Carried forward 29 February 2024 The Reserves at the year end are represented by: Fixed Assets Debtors and Prepayments Bank and cash Creditors |
Unrestricted £ 948,204 -- 29,885 £978,089 Unrestricted £ 863,589 6,508 111,138 981,235 3,146 £978,089 |
Restricted £ -- -- |
|---|---|---|
| -- | ||
| Restricted £ -- -- -- |
||
| -- -- |
||
| -- |
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Ferndown Village Hall Detailed Statement of Financial Activities for the year ended 29 February 2024
| Income and Endowments Donatons and Grants Rental Income Hall Rents Received Car Park Storage Deposit Account Interest Total Income Expenditure Charitable Actvites Entertaining Support Costs Rates and Water Light and Heat Telephone and Broadband Insurance Postage and statonery Licences and subscriptons IT Support Rubbish collecton Cleaning Bank Charges Sundries Property Maintenance Repairs and Renewals Other Expenditure Depreciaton Total Expenditure Net Income /( Expenditure) |
2024 £ 320 £ 320 51,765 1,673 835 1,999 56,272 56,592 535 535 490 6,564 744 1,152 26 886 309 181 4,525 50 597 15,524 8,769 8,769 1,879 1,879 26,707 £ 29,885 |
2023 £ 9,486 |
|---|---|---|
| 9,486 | ||
| 51,185 1,686 800 16 |
||
| 53,687 | ||
| 63,173 578 |
||
| 578 | ||
| 472 6,859 584 1,010 60 921 289 165 4,559 -- 165 |
||
| 15,084 | ||
| 13,918 | ||
| 13,918 | ||
| 3,499 | ||
| 3,499 | ||
| 33,079 | ||
| £ 30,094 |
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