Minutes of the E.T. Foakes Memorial Hall Charitsble Trust meeting 21.11.23 ET FOAKES MEMOFUAL HALL TRLET MINUTES OF THE E.T FOAKES MEMORIAL HALL CHARITABLE TRUST MEETING CONVENED ON 21sf NOVEMBER 2023 AT 7.'OOPM IN THE TALBERD ROOM, E.T FOAKES MEMORIAL HALL, GREAT DUNMOW. Trustees Present: A. Armstrong (presiding) P. Anderson C. Arnold J. Cadwallader P. Childs J. Davey C. James R. Jones E. Marcus S. Withington In attendance: Mrs C Burton- Amenities Manager (minute taker) 17) APOLOGIES FOR ABSENCE Apologies for absence were received from Councillors Allen, Brown, Lavelle, Puddick and Stratton. 18) DECLARATIONS OF INTEREST There were none made. 19) MINUTES On the motion of Councillor Davey seconded by Councillor James it was RESOLVED to accept and approve the minutes of the meeting held on 14th September 2023 as a true and accurate record of the meeting. Councillor Noble joined the meeting at 7.'15pm 20) INTERNAL AUDIT REPORT 1 APRIL 2022- 31 MARCH 2023 Trustees received and noted the Internal Audit Report 1 April 2022 - 31 March 2023. Councillor James congratulated the Finance Officer for doing an excellent job. 21) ANNUAL ACCOUNTS 1 APRIL 2022- 31 MARCH 2023 Trustees received and noted the Annual Accounts 1 St April 2022 - 31 March 2023. Mlnutes of the E.T. Foakes Memorial Hall Charitable Trust meeting 21.11.23 Councillor Jones highlighted to the truslees the overspend for maintaining the hall over the last year of £163,000.00 plus an additional 6 % for inflation being required for next year and advised that a larger grant from Ihe Council would be required for next year. 22) ALTERATION OF SIGNATORIES TO BANK MANDATES Trustees received the recommendations of the Finance Officer. On the motion of Councillor James, seconded by Councillor Jones itwas RESOLVED to.. - Change the correspondence contact to the Town Clerk Change signatories to the Town Clerk and the Chair of the Trust (Mayor) C James to remain as signatory Change the current account from Barclays Bank to Unity Bank 23) BUDGET REPORT Trustees received and noted Ihe Budget report dated 14th November 2023. The meeting closed at 7:28pm. ## **E.T. FOAKES MEMORIAL HALL CHARITY TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDING 31ST MARCH 2023** |Details|Page| |---|---| |Income and Expenditure Account|1| |Balance Sheet|2| |Notes|3| ## **E.T. FOAKES MEMORIAL HALL CHARITY TRUST INCOME AND EXPENDITURE ACCOUNT** |**Income**
Scale and Other Fees
Rechargeable to Tenants
Payphone
Rents re Foakes House and Clubhouse
Interest Received
Grants Gt Dunmow Town Council
Grants other
Sale of Land
Miscellaneous
**Expenditure**
Wages and National Insurance
Hall Management
Rates
Maintenance
Cleaning
Light, Heat and Water
Capital Expenditure
Licences and Piano
Payphone and Wi-fi
Insurance
Audit Fees
Trees, garden, grounds
Miscellaneous
Excess of Income over Expenditure for the Year
**Cumulative Fund Summary**
Fund Balances as at 1st April
Excess of Income over Expenditure for the Year:
**Fund Balance as at 31st March 2023**|48,284
-
-
18,570
3,616
71,219
-
-
1,167
142,856
28,325
75,134
205
34,842
4,038
8,964
4,377
502
1,169
4,522
(15)
532
405
163,000
(20,144)
2023
£
213,056
-20,144
**192,912**
2023
£|2022
£
33,978
546
-
17,530
76
68,480
-
35,000
5,187
160,797
33,037
63,769
205
16,534
2,987
8,822
7,353
907
856
3,122
270
364
1,466
139,692
21,105
2022
£
191,951
21,105
**213,056**| |---|---|---| Page 2 ## **E.T. FOAKES MEMORIAL HALL CHARITY TRUST BALANCE SHEET AS AT 31ST MARCH 2023** |**3**
**4**|**Investments**
Charities Official Investment Fund
**Current Assets**
Bank Current Account
Debtors
**Current Liabilities**
Creditors
**Net Current Assets/(Liabilities)**
**Net Worth**
**Represented by:**
Fund brought forward at 1stApril
Excess of Income over Expenditure for the Year|2023
£
174,710
70,984
53,530
124,514
(106,312)
18,202
192,912
213,056
-20,144
192,912|2022
£
171,666
75,155
9,359
84,514
(43,124)
41,390
213,056
191,951
21,105
213,056| |---|---|---|---| The above statement represents fairly the financial position of the Charity as at 31st March 2023 Approved at the Trust Meeting on day of 2023 Signed: ………………………………………………………. Chairman of ET Foakes Memorial Hall Charity Trust Date: ……………………………………………………….. Page 3 **E.T. FOAKES MEMORIAL HALL CHARITY TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2023** |**1)**
**Property**
(2015 insured values)
a)
E.T. Foakes Memorial Hall, Stortford Road, Dunmow, Essex.
b)
Foakes House, 47 Stortford Road, Dunmow, Essex.
Total
**2)**
**Contents (E.T. FOAKES Memorial Hall)**
insured value at 1.7.22
**3)**
**Investments**
a)
Charities Official Investment Fund|£
1,950,990
487,746
2,438,736
99,475
174,710| |---|---| ## **4) Debtors and Prepayments** At 31st March 2023 trade debts of £52167.13 were outstanding and due to the ETFMHCT The ages of the debts were: |Number
Less than 3 months old
19
More than 3 months old
3
Customs & Excise
Sundry Debtors: Prepayments & Recharges|**£**
51,961
206
-
1,363
53,530| |---|---| ## **5) Creditors and Accruals** At 31st March 2023 trade creditors of £381.60 were outstanding and due to the ETFMHCT aged as follows: |Number
Less than 3 months old
1
More than 3 months old
-
Customs & Excise
Sundry Debtors: Prepayments & Recharges|**£**
382
-
98
105,832
106,312| |---|---| Signed: ………………………………………………………. Chairman of ET Foakes Memorial Hall Charity Trust Date: ……………………………………………………….. Page 4 ## **E.T. FOAKES MEMORIAL HALL CHARITY TRUST ANALYTICAL REVIEW OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31ST MARCH 2023** |Details|Page| |---|---| |Income and Expenditure Account|1| |Review of Income & Expenditure and explanations|2| ## **E.T. FOAKES MEMORIAL HALL CHARITY TRUST ANALYTICAL REVIEW INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2023** |**Income**
Scale and Other Fees
48,284
Rechargeable to Tenants
-
Payphone
-
Rents
18,570
Interest Received
3,616
Grants Gt Dunmow Town Council
71,219
Grants other
-
Sale of Land
-
Miscellaneous
1,167
142,856
**Expenditure**
Wages and National Insurance
28,325
Hall Management
75,134
Rates
205
Maintenance
34,842
Cleaning
4,038
Light, Heat and Water
8,964
Capital Expenditure
4,377
Licences and Piano
502
Payphone and Wi-fi
1,169
Insurance
4,522
Audit Fees
(15)
Trees, garden, grounds
532
Miscellaneous
405
163,000
Excess of Income over Expenditure for the Year
(20,144)
2023
£|2022
£
33,978
**1**
546
**2**
-
17,530
76
**3**
68,480
-
35,000
**4**
5,187
**5**
160,797
33,037
63,769
**6**
205
16,534
**7**
2,987
**8**
8,822
7,353
**9**
907
**10**
856
**11**
3,122
**12**
270
**13**
364
**14**
1,466
**15**
139,692
21,105|Variance
£
14,306
42.10%
546
-
-100.00%
-
1,040
5.93%
3,540
4657.89%
2,739
4.00%
-
#DIV/0!
35,000
-
-100.00%
4,020
-
-77.50%
17,941
-
4,712
-
-14.26%
11,365
17.82%
-
0.00%
18,308
110.73%
1,051
35.19%
142
1.61%
2,976
-
-40.47%
405
-
-44.65%
313
36.57%
1,400
44.84%
285
-
-105.56%
168
46.15%
1,061
-
-72.37%
23,308
41,249
-| |---|---|---| Page 6 ## **E.T. FOAKES MEMORIAL HALL CHARITY TRUST ANALYTICAL REVIEW EXPLANATION OF VARIANCES FOR THE YEAR ENDED 31ST MARCH 2023** ||**INCOME**|||| |---|---|---|---|---| |**1**|Scale and Other Fees|Increase|£|14,306
| ||Ontinued increase in bookings since Covid closure|||| |**2**|Rechargeable to Tenants|Decrease|-£|546
| ||Only tenant now Great Dunmow Town Council who pay own costs|||| |**3**|Interest Received|Decrease|-£|3,540
| ||Market trende|||| |**4**|Sale of Land|Increase|£|35,000
| ||Sale of land in prior year|||| |**5**|Miscellaneous|Decrease|-£|4,020
| ||Prior year costs recovered re sale of land|||| ||**EXPENDITURE**|||| |**6**|Hall Management|Increase|£|11,365
| ||Recharge from GDTC including maintenance & new machinery + staff costs|||| |**7**|Maintenance|Increase|£|18,308
| ||Remedial work to building electrics & alarms|||| |**8**|Cleaning|Increase|£|1,051
| ||more cleaning & laundry generated by increased lettings|||| |**9**|Capital Expenditure|Decrease|-£|2,976
| ||Prior year contained fees re proposed capital project|||| |**10**|Licences and Piano|Decrease|-£|405
| ||Prior year charges for 2 years|||| |**11**|Payphone and Wi-fi|Increase|£|313
| ||Market price increase|||| |**12**|Insurance|Increase|£|1,400
| ||Market price increase|||| |**13**|Audit Fees|Decrease|-|285
| ||Prior year audit over accrued|||| |**14**|Trees, garden, grounds|Increase||168| ||Pollarding of lime trees|||| |**15**|Miscellaneous|Decrease|-|1,061
| ||Prior year included cost of tenant recharges no longer relevant|||| Page 7 • Local Council Services Internal Audit ## HEELIS _&_ LODGE ## **’ – Independent Examiner s Report for E T Foakes Memorial Hall 1 April 2022 to 31 March 2023** ## **Registered Charity No: 301312** Income: £142,856 Expenditure: £163,000 Year End Balance: £192,912 Balance at bank @31/3/2023: £70,983.75 Balance at CCLA: £174,709.79 The Council are the sole Trustee of the E T Foakes Memorial Hall Charity. The aims of the Charity are to manage the Foakes Hall for the purposes of entertainments, recreations, meetings, lectures, concerts and other charitable purposes connected with the town of Great Dunmow. Maintenance of the hall is ongoing and a Maintenance and Capital Works Schedule is in place. The 2021-2022 Annual Return was received by the Charity Commission on 7 March 2023. All trustees are members of Great Dunmow Town Council. The Charity prepares an annual budget, looking at short, medium and long term planning for maintenance, running costs and improvements. The Charity takes advantage of grant funding to help support the improvements to the Hall. The Charity works to the Town Council’s Financial Regulations. At least every quarter and at the end of the financial year a member, other than the Mayor or a cheque signatory, is appointed to verify bank reconciliations for all accounts. The bank reconciliation dated 31 March 2023 is correct and supported by the relevant bank statements. Income and expenditure are tracked throughout, providing a clear audit trail. The Finance Officer keeps clear records. Fees are reviewed annually. Hire charges were reviewed and the new simplified schedule approved at a meeting held on 21/4/2022 (Ref: 29). Hire agreements are in place and appropriate safeguards are in place to ensure hirers have adequate insurance and qualifications to undertake safe and proper use of the activity to take place. Copies of insurance certificates are kept on file where appropriate. The Hall has a PPL and PRS Licence in place. An asset register is in place and is reviewed annually as part of the Town Council procedures. Insurance is in place under the Town Council, this includes all the standard cover including Fidelity. Payroll, income, expenditure processes were examined as part of the Gt Dunmow TC Internal Audit dated 19/6/2023. Bank reconciliations were examined as part of the Independent Examination. There were no matters which give cause to believe that in, any material respect, the Trustees have not met the requirements of the Charity Act 1993 and the year end accounts Heather Heelis 13 November 2023 HEELIS _&_ LODGE Appointed Independent Examiner Contact details : 1 Hembling Terrace, Mill Lane, Suffolk, IP13 0PP Tel: 07732 681125 Email: heather@heelis.eu 1 Heather Heelis Dip HE Local Policy FILCM Lynne Lodge Dip HE Local Policy