hs Villa e Hall Charity No. 301317 Chairman's Report to the Annual General Meeting for 2023-2024 year Countil of Mana Roger Berkley Stuartwllson Anne Wil%>n Pat wiiris June Poullh Llndsay Grl rnent: -Pre5Mlent -Chalmian & Booklng Seue - Mlnutes Seuetary -Treasurer - Bowk Uub "_Nwsery Brend• Ywng Una White Phiifbp W41is John White Gareth Roberts .Parish Cwncil Blryo . Cr*opted . Cr*opted umma ri12023 to March 2024 Regular hirers provide us with 3 core income of approximately £27.(IXI per annum. vthilst private hire from Individuals 15 Still quite buoyant with continued interest in hlring for Children5 partie5. During the period April 23 to Mar 24. we have had 1,081 hirings coverbng 4.328 hours. The demographic of our hirers is a significant cr055 section of the local community however there is opportunity to utilise the availability of the Brian PoultrÈey small hall pa￿c￿larlY on weekday afternoon Once again my thanks go to the committee for their supp)rt pracbcal help in ensuring the hall operates effertively, focusing on the needs ofthe communty. Overall, hire income for the period wa5 £40JOI. other donations from Biw), Chrisbmas Fayre, & Christmas Tree Event of £820 plus bank interest of £172.(Kl gave ¥J5 a totsl income of £41,093 for the year to Marth 2014. E¥pendlture for the year was £39,197. Hall mairrtenance costs accounted for £IO,OOZ, stsff costs were £8375 and Energy charges amounted to £IO,(K12. Provision forfuture boiler replacement was £1￿(￿1. The cash balance at year end March 2024 was £95.681. Which is a net increase of £2.930. Detalls of speclfic signtficant expendfture for the year Apr 23 to Mar 24 are as follow5: Fuel for bioma55 boiler- £3,0251o redurtion on previous year due to Sto￿liS0t10￿ ofpricesfollowing the energy ¢ristisJ Electricity- £5.30113-yearfixed pnce contrt7ct with SSE). Staff Costs- £8.375 (smoll reduction on previous ￿r) aeanin& Hywene & Caretsking Consumables• £IA23 (smoll reduction overpreviou5 Y￿r) Boiler Servicing - £594 - (Annual servicing charge. plus repairs for Biomass l)oiler & assoaated controls and includes emergency 24hr support.} Ha51 Redecoration - £5.4LKI- {Re4ecoration of external fa￿de. plus r￿eCorat1Dn of internal lobbies and Brian Poultney Hall) Hall Building & Public Liability Insurance- £1￿8.15% increose on prevlous yeorj vil Future Plans The Solar PV project has gained momerrtum wtth quotes recefved from 3 suppllers. It Is anticipated that we will be able to move forward to instructing our preferred supplier In early 2024-25 financial year. The projerted benefit to our electricity consumptSon1s to halve our relian￿ upon the grid supply. Stuart Wilson-chairman May 2024 Lei8hs Willage Hall Charity No. 301317 Trustees, Report and Unaudited Accounts 31 Marth 2024 Leighs Willage Hall CONTENTS Pages Trustees, Annual Report Independent Examiner's Report Page I Leighs Village Hall TRUSTEES ANNUAL REPORT The Trustees present their report with the unaudited finanaal ststements of the charity for the year ended 31 March 2024. REFERENCE AND ADMINisfRATIVE DETAILS Charity No. 301317 Trustees The following Trustees served during the year: P. Willis S. Wilson Accountsnts Shirley Smith & Co Ltd 11 Chandlers Way South Woodham Ferrer5 Chelmsford Essex CM3 5TB Statement of trustees. responsibilities in relation to the financial statements The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally A(￿pted Accounting Prattice). The Trustee5 are responsible for keeping'proper accounting records that disclose with reasonable accuracy at anytime the financial position of the tharity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the charity's trustees P. Willis Trustee Pthiaa WI￿$ (May 23, 2W. 2..(M[￿l 20 May 2024 23 May 2024 Page 2 Leighs Willage Hall INDEPENDENT EXAMINERS REPORT Independent Examlner's Report to the twstees of Leighs Willage Hall I report on the accounts of Leighs Village Hall for the year ended 31 March 2024 which comprise the ststement of Financial Activities, the Balance Sheet and the related notes. Respective responsibilities of trustees and examlner The charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) {the 2011 Act) and that an independent examination is needed. Having satisfied myself that the tharity is not subjert to audit under charity law and is eligible for independent examination, it is my responsibility to.. examine the accounts under s.145 of the 2011 Att; to follow prO￿dureS laid dovm in the general Directions given by the Charity Commission under s.145{5)(b) of the 2011 Act; and to state whether particular matters have come to my attention. Basis of independent examlnerfs report My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting record5 kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees conceming any such matters. The procedures do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair" view and the report is limited to those matters set out in the ststement below. Independent examiner's statement In connettion with my examination, no matter has come to my attention: (l) which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with s.130 of the 2011: and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act, have not been met: or {2) to which, in my opinion, attention should be drdwn in order to enable a proper understanding of the accounts to be reached. Daniel Baxter ICAEW Shirley Smith & Co Ltd Chartered Accountants 11 Chandlers Way South Woodham Ferrers Chelmsford Essex Page 3 Leighs Village Hall INDEPENDENT EXAMINERS REPORT CM3 STB 20 May 2024 Page 4 Leighs Village Hall STATEMEKf OF FINANCIAL AcllvmES for the year ended 31 Marth 2024 Unrestricted funds Total funds Total funds 2024 2023 Income and endowments from: Donations and legacies Other 820 40,273 . 820 422 40,064 40,273 Total 41,093 41,093 Expenditure on: Other 39,197 39,197 44,201 Total 39,197 39,197. 44,201 Net gains on investments Net income/(expenditure) Net income/(expenditure) before other gains/(losses) 1,896 1,896 13,715} 1,896 1,896 {3,7151 Other galns and losses: Net movement in funds 1.896 1,896 (3,715) Reconciliation of funds: Total funds brought fonvard 92,883 92,883 96,598 Total funds carried forward 94,779 94,779 92,883 Page 5 Leighs Village Hall . BALANCE SHEEr at 31 March 2024 Charlty No. 301317 2023 ' Fixed assets Tangible assets 764,862 764,862 764,862 764,862 Current assets Debtors Cash at bank and in hand 5,927 95,681 101,608 (1,8911 99,717 4,049 92,751 96.800 1479) 96,321 Creditors: Amount falling due within one year Net current assets Total assets less Current Ilabilities 864,579 861,183 Provisions for liablllties io (16,51J)) {15,(KKJ) Net assets excludlng pension asset or liability 848,079 846,183 Total net assets . 848.079 846,183 The funds of the tharity Restricted funds Unrestrirted funds General funds li li 94,779 92,883 92,883 Reserves Village Hall Project- cost capitalised li 753,31X) 753,3tKI 753,300 753,300 Total funds 848,079 846,183 Approved by the trustees on 20 May 2024 And signed on their behalf by- P. Willis Trustee 20 May 2024 Page 6 Leighs Village Hall STATEMENT OF CASH FLOWS for the year ended 31 March 2024 2024 2023 ' Cash flows from operating activities Net income/(expenditure) per Ststement of Financial Activities 1.896 {3,7151 Adjustments for: Movement in provisions Dividends, interest and rents from investments Increase in trade and other receivables Increase/(Decreasel in trade and other payables 1,51)) 140,273) {1.878) 1,412 1,500 (40,0641 (1871 (i) Net (3sh used in operating activfjties {37,343} (42,4671 Cash flows from investing acttvities Dividends, interest and rents from investments 40,273 40.064 Net cash from investlng activitles 40,273 40,064 NetLash from financlng artivities Net increaSe/(decr&￿> in cash and cash equiwalents 2,930 (2,4031 Cash and cash equivalents at the beginning of the year 92.751 95,154 Cash and cash equivalents at the end of the year 95.681 92,751 Components of cash and cash equiwalents Cash and bank balan￿5 95,681 92,751 95,681 92,751 Page 7 Leighs Village Hall NOTES TO THE ACCOUNTS for the year ended 31 Marth 2024 l Accounting policies Basls of preparation The financial statements have been prepared in accordan￿ with Accounting and Reporting by Charities: ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic if Ireland (FRS 102}- Charities SORP IFRS 102) (effective l January 2015)- the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Charities Act 2011. Change in basis of accounting or to previous accounts There has been no change to the accounting policies {valuation rules and method of accounting) since. last year and no changes have been made to accounts for previou5 years. Fund accountin8 Unrestritted funds These are available for use at the discretion of the trustees in furtheran￿ of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted fund5 which include a revaluation reserye representing the restatement of investment a55ets at their market values. These are available for use subject to restrirtions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Financial Activities {SoFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SOFA. Donations and legacies Voluntsry income received by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to thE income. Tax reclaims on Income from tax rÈclaims is included in the SOFA at the same time as the donations and gifts giftldonation to which it relates. t)onated services These are only included in income (with an equivalent amount in expenditure} and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any Eain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/l1055es) on investment assets This includes any gain or Ioss on the sale of investments. Page 8 Lebghs Vlllage Hall NOTESTO THE Accou￿ Expendlture Recognition of expenditure Expenditure is wognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reF)Orted as part of the expenditure to which ir relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities Servi￿5 in the furtherance of its objects, including the making of grants and governan￿ costs. All grant expenditure is accounted for on an actual paid basis plus an accrual tor grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular artivity. Grants payable Govemance costs Taxation The charity is exempt from tax on its charitable attivities. Freehold investment property Investment properties are revalued annually and any surplus or deficit is dealt with through the Statement of Financial Activities. No depreciation is provided in respect of investment properties. Intanglble fixed assets and amortisation Intangible fixed assets {including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which 15 the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deFx)sits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Ststement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Page 9 Leighs Willage Hall NOTES TO THE Accoumrs Trade and other credltors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are nomally recognised at their settlement amount after allowing for any trade discounts due. Research and development Expenditure on research and development is written off in the year in which it is incurred. Foreign currencies Monetary assets and liabilities denominated in Cu￿enCieS other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange dIfferen￿S are are taken into account in arriving at net income/expendit'ure. Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an a55et. the lease 15 treated as a fInaTr￿ lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finan￿ leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liabilify to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expense5 and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balan￿ of the liability. Finance expenses are recognised immediately, unless they are directly attribLrtable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease in￿ntiveS are re￿iVed to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of in￿ntiveS is recognised as a reduction of rental expense on a straight-line basis. Pension costs The charity operates a defined contribution plan for its employees. A defined contribution plan is pension plan under which the charity pays fixed contributions into a separate etitity. on￿ the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds. Page 10 Leighs Village Hall NOTES TO THE ACCOUNTS 2 Statement of Financlal Activities- prfor year Unrestricted funds 2023 Total funds 2023 ' 2023 Income and endowments from: Donations and legacies Other 422 422 40,064 Total 40.486 40,486 Expenditure on: Other 44,201 44,201 Totsl 44,201 44,201 Net income (3,7151 {3,7151 Net income before other galns/llosses} Other gain5 and losses: Net movement In funds (3,715) (3,715) (3,715) {3,7151 Reconciliatlon of funds: Totsl funds brought forward Totsl funds carrled forward 96,598 96,598 92,883 92,883 3 Income from donations and legacles Unrestricted Total Total 2024 2023 Fete donation 52 Bingo donation Tree event 250 250 250 130 130 120 820 820 422 4 Other income Unrestricted Total Total 2023 . 2024 Hire of hall Grant - Chelmsford Clty Council 40,101 40,1.01 39,035 1,000 Bank interest 172 172 29 40,273 40,273 40,064 Page 11 Leighs Village Hall NOTES TO THE AccouMf5 5 Other expendlture Unrestricted Total ' 2024 Total 2023 General administrative costs 37,629 37,629 37,629 37,629 44,655 44,655 6 Staff costs No employee received emoluments in ex￿55 of £60,IM). 7 Tangible fixed assets Cost or revaluatlon At l April 2023 At 31 March 2024 764,862 764,862 764,862 764,862 Net book values At 31 March 2024 At 31 March 2023 8 Debtors 764,862 764,862 764,862 764,862 2024 2023 Trade debtors 5,927 5,927 4,049 4,049 9 Creditors: amounts falling due within one year 2024 2023 Accruals and deferred income 1,891 1,891 479 479 10 Provisior Onerous Total At l April 2023 Movement for the year At 31 March 2024 15,CTh) 1,500 16,500 15,Ot 1,500 16,500 Page 12 Leighs Village Hall NOTES TO THE Accoumrs 11 Movement In funds Ir￿mIng At31 March 2024 (including Resour expended trdnsfers At i April 2023 8ainsllosses) Restricted funds: Unrestricted fvnds: General funds 92.883 41,093 (39,197) 94,779 Revaluatlon ReseNes: Revaluation fund 753,3 753,300 Total revaluation reserves 753,3(X) 753,31Xl Total funds 846,183 41,CY33 (39,1971 848,079 Purposes and restriction5 in relation to the funds: Revaluation reserves Represent the amount by which investments exceed their historical cost. 12 Analysis of net assets between funds Unrestricted funds Total Fixed assets 764,862 99,717 764,862 99,717 Net current assets Creditors due in more than one year and provisions {16,5￿) {16,500} 848,079 848,079 Page 13 Leighs Village Hall DFfAILED STATEMEMf OF FINANCIAL AcrNmES for the year ended 31 March 2024 General Funds Total fun(ts Total funds 2024 2024 2023 Income from: Donations and legacies Fete donation Bingo donation Tree event 52 250 250 130 250 120 130 820 820 422 Other Hire of h211 Grant- Chelmsford Clty Council Bank interest 40,101 40,101 39.035 1,000 29 172 40,273 172 40,273 40,064 Total income 41,093 41,093 40,486 Expenditure on= General administrative costs, including depreciation arid amortisation Bad debts Rates and water rates Heat, light and telephone Insurance Caretaker and cleaner Repairs and maintenance 1,347 1,347 8,649 1,707 8,544 18,757 2,962 10,002 2,962 10,002 8,375 10,556 8.375 10,556 Provision for boiler replacement Supplies Sundry RCC affiliation fees and PRS licen￿5 Printin& statutory secretsry's expenses etc Community projec¥s Website Subscriptions Independent examiner 1,51X) 1,551 256 275 275 581 581 123 123 317 288 140 140 140 140 125 480 44,201 44,201 504 504 39.197 39,197 39,197 39,197 Total of expenditure Totsl expenditure Net gains on investments 39,197 39,197 44,201 Net income/(expendlture) 1,896 1,896 13,715) Page 14 Lelghs Willage Hall DEfAILED STATEMEMf OF FINANCIAL ACTIVMES Net incomel(expenditsre) before other galns/(losses) Other Gains 1,896 1,896 {3,715) Net movement in funds 1,896 1,896 (3,715) Page 15