## **BOX VILLAGE HALL ANNUAL REPORT AND ACCOUNTS OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 31ST DECEMBER 2021 COMMITTEE MEMBERS’ REPORT**
## Objectives and activities
Box Village Hall is registered as charity number 301472 and is a public benefit entity. The hall building, the land on which it stands and the car park area belonging to the charity are vested in the name of the Official Custodian and registered at the Land Registry title number GR375791. The Management Committee are appointed, under a deed of conveyance dated 11[th] August 1969, as trustees to:
'administer the Village Hall for the use of the inhabitants of Box and the neighbourhood without distinction of sex or of political religious of other opinions and in particular for meetings lectures and classes and for other forms of recreation and leisure time occupation with the object of improving the conditions of life for the said inhabitants.'
## Structure and management
At each annual general meeting five members of the Committee are to be elected to serve for one year. The six organisations specified in the founding deed and any other such organisations as may apply are each entitled to nominate a member and the Committee have the power to co-opt up to three further members.
## Achievement and performance
The Committee confirm that they comply with the Charity Commission’s guidance on public benefit by making the hall available to the public at rates of hire intended to cover the running costs and maintain it in good condition and believe that the 281 separate bookings received in 2021, despite coronavirus restrictions (compared with 736 in 2019) are a measure of how far this was achieved.
## Financial review
Thanks to government Coronavirus grants of £17,836 (2020 £11,334) the Hall income in 2021 was enough to cover ordinary running expenses and leave a surplus of £15,714 (2020 £5,981) before accounting for depreciation on the property and a gain of £8,908 on investments (2020 loss on sale £4,032.) The Committee are grateful to Daphne Edwards for a donation of £80 and to Sir Richard Eyre for one of £150.
## Reserves and policies
The Committee confirm that the accounts comply with the Charities Act 2011, with the Charity SORP FRS 102 and with the founding deed, that all investments have been acquired in accordance with the powers available to them, that their investment policy, to balance growth and income without incurring undue risk, and their policy for holding reserves are reviewed annually. The value of the hall and its contents is held as a restricted fund reserve, not available for expenditure. The Revaluation Reserve is required to hold the unrealised increase in the value of investments since they were purchased. The Fabric Reserve is held to provide against the costs of expected but not imminent repairs and is increased each year in line with inflation. After fifty years the most likely call on this fund may be repairs to the roof.
## Funds held as custodian
At the request of and on behalf of the Table Tennis Committee, the Management Committee hold the Table Tennis Fund as custodians with the aim of reviving this laudable activity when enough enthusiasts can be found.
1.
## **BOX VILLAGE HALL COMMITTEE MEMBERS’ REPORT CONTINUED**
## Responsibilities for these financial statements
The law applicable in England and Wales requires charity trustees to prepare for each year a trustees’ annual report and financial statements which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period in accordance with applicable law and United Kingdom accounting standards (UK Generally Accepted Accounting Standards.).
In preparing the financial statements the trustees are required to select suitable accounting policies and apply them consistently, to observe the methods and principles set out in the applicable Charities Statement of Recommended Practice (FRS102), to make judgements and estimates that are reasonable and prudent, to state whether applicable standards have been followed, subject to any material departures disclosed and explained in the financial statements and to prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Committee are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and which 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 founding deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The members of the Committee who served during the year were:
C. Ames Chairman A. Dawes A. Nightingale P. Goodwin R. Ogle C. Helps A. Pettitt S. Hemmings Vice Chairman M. Robinson Treasurer A. Hughes (Retired 17[th] March 2021) J. Storey M. Kidson J. Storey S. Kidson I. Witts Secretary
Addresses for correspondence are:
Chairman - The Old Box Inn Treasurer - Trullwell Box, Stroud, Glos. Box, Stroud, Glos. GL6 9HH GL6 9HD
Dated 5th February 2022
M.G. ROBINSON
Hon. Treasurer for Committee
2.
## **BOX VILLAGE HALL INDEPENDENT EXAMINER'S REPORT TO THE MANAGEMENT COMMITTEE OF BOX VILLAGE HALL FOR THE YEAR ENDED 31ST DECEMBER 2021**
I report on the charity's accounts for the year ended 31[st] December 2021 set out on pages 3 to 5.
Respective responsibilities of trustees and examiner.
As the charity's trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 43(2) of the Charities Act 1993 does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7) of the Act, whether particular matters have come to my attention.
## Basis of the Independent Examiner's Report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## Independent Examiner's Statement
In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with section 41 of the Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date 1[st] March 2022
M.A.ROGERS
Twelvetrees, Box
Stroud, Gloucestershire GL6 9HP
3.
## **BOX VILLAGE HALL**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021**
|Restricted Unrestricted
Funds
Funds
(Property)
(General)
INCOME
£
£
Letting income
4,817
Investment income
1
Bar sales
2285
Air in G & other events
870
Coffee mornings
70
Grants and donations
18,066
26,109
EXPENDITURE
Cost of bar sales
1596
Cost of Air in G & other events
732
Repairs and maintenance
920
Cleaning
3,167
Gardening
511
Heat, light and water
1,769
Insurance
806
Licences and advertising
198
Telephone
408
Xmas and website
288
10,395
OPERATING SURPLUS
15,714
Depreciation for the year
-4,940
Unrealised gain on investments
8,908
NET INCOME/EXPENDITURE
-4,940
24,622
NET MOVEMENT IN FUNDS
-4,940
24,622
Funds brought forward
195,132
64,028
TOTAL FUNDS AT YEAR END
£190,192
£88,650|||
|---|---|---|
||||
4
## **BOX VILLAGE HALL BALANCE SHEET AT 31ST DECEMBER 2021**
|FIXED TANGIBLE ASSETS
Freehold land and building
Furniture and equipment
FIXED ASSET INVESTMENTS
COIF Charities Investment Funds
Total fixed assets
CURRENT ASSETS
Bar stock
Debtors
Prepayments
COIF Charities Deposit Fund
Lloyds Bank current account
Lloyds Bank deposit account
Bar cash
Less: Creditors
Net current assets
TOTAL NET ASSETS
Representing:
RESTRICTED FUNDS
Property fund
Table tennis fund
UNRESTRICTED FUNDS
Revaluation reserve
Fabric reserve
General fund
TOTAL FUNDS AT YEAR END
Approved by the Management Committee on 5th February 2022
and signed on their behalf by|2021
£
184,600
5,300
68,908
258,808
829
270
880
292
1,160
16,501
833
20,765
731
20,034
£278,842
189,900
292
8,908
27,000
52,742
£278,842|2020
£
188,600
6,240
0
194,840
375
947
691
53,509
404
8,293
786
65,005
685
64,320
£259,160
194,840
292
0
26,000
38,028
£259,160|
|---|---|---|
C.D. Ames M.G. Robinson Chairman Treasurer
5
**BOX VILLAGE HALL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021**
## Accounting policies
Basis of accounting. The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice FRS 102 and with other applicable accounting standards using the historical cost convention modified by revaluation of investments to market value. Income is not brought to account until it is receivable but expenditure is provided for when incurred.
Quoted investments are shown on the balance sheet at market value at the year end. In a change of policy this year, unrealised gains and losses are taken to the revaluation reserve.
Depreciation is provided to write off the cost, less estimated residual value, of all fixed assets over their expected lives using the straight-line basis at the rate of 2% per annum for buildings (not land) and the reducing balance method at the rate of 15% per annum for furniture and equipment. Fixed assets are held in the property fund to which all depreciation has been charged.
Stock is valued at the lower of cost and realisable value. Debtors and Creditors are valued at the amounts expected to be received or paid.
## Tangible Fixed Assets
|Tangible Fixed Assets|||
|---|---|---|
|Freehold
building
Cost or valuation £
Balance brought forward at 1stJanuary 2021
299,679
Additions in the year
Balance at 31stDecember 2021
299,679
Depreciation
Balance brought forward at 1stJanuary2021
111,079
Charge for the year
4,000
Balance at 31stDecember 2010115,079
Net book value
At 31stDecember 2021184,600
At 31stDecember 2020
188,600|Furniture and
equipment
£
48,518
0
48,518
42,278
940
43,218
5,300
6,240|Total
£
348,197
0
348,197
153,357
4,940
158,297
189,900
194,840|
||
||
The accounts are required to disclose the key assumptions made concerning the future and the judgement made in applying the accounting policies which has the most significant effect on the amounts recognised. The value of the village hall is being depreciated in line with the standard accounting practice and will, within twenty years, be written down to nil, leaving just the estimated value of the land in 1995. The Statement of Recognised Practice prescribes regular revaluations but, with no intention of selling the hall or any right to do so, its money value has very little practical relevance to the charity’s finances. The replacement cost is more pertinent but the Committee do not think it feasible to set aside a sinking fund for rebuilding the Hall in centuries to come; future generations will have to raise the money when it is needed.
6.
**NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **BOX VILLAGE HALL**
## Investments
Following the sale of investments in March 2020, the Committee decided, in February 2021 to reinvest £30,000 into accumulation units in each of the COIF Charities Investment Fund and COIF Charities Ethical Investment Fund at a total cost of £60,000. At the end of the year the units were worth £68,908. Valuations of the units are carried out by the fund managers, CCLA Fund Managers Limited and the overall value of these two common investment funds is reported to be in excess of £2 billion.
|£2 billion.||||
|---|---|---|---|
|Value brought forward at 1stJanuary 2021
Investment in the year
Unrealised increase in valuation
Proceeds of sale
Loss on sale
Valuation at 31stDecember 2021
Movement of Reserves
Restricted Funds
Net expenditure
Transfers:
Net movement in the year
Balances brought forward
Balances carried forward
Unrestricted funds
Net income
Transfers:
Increase in value of investments
Increase for inflation
Cost of new equipment
Net movement in the year
Balances brought forward
Balances carried forward
|
Property
Fund
£
(4,940)
(4,940)
194,840
189,900
Revaluation
Reserve
£
8,908
8,908
0
8,908|2021
£
60,000
8,908
68,908
Table tennis
Fund
£
292
292
Fabric General
Reserve Fund
£
£
24,622
(8,908)
1,000 (1,000)
0
1,000 14,714
26,000 38,208
27,000 52,922|2020
£
35,041
31,009
4,032
2021
Total
£
(4,940)
(4,940)
195,132
190,192
Total
£
24,622
0
0
0
24,622
64,028
88,650|
||
|||
7
## **BOX VILLAGE HALL**
**NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021**
## Committee members' expenses
Apart from the general benefits available to any other resident of Box, no benefit was provided, nor remuneration paid to any member of the committee; there were no related party transactions, nor contracts with the members for the supply of goods and services. and no expenses were paid, apart from refunds of money paid out on behalf of the hall amounting to £649 (2020 £918) for Repairs and £15 (2020 £749) for Cleaning and £20 (2020 nil) for other items.
## Volunteers and staff
The average number of employees during the year was nil and no employees received salary and benefits of more than £60,000. The Hall relies on the members of the Committee and other villagers giving generously of their time to run the clubs and activities which take place in the hall, organise the events, move the furniture, carry out repairs and independently examine these accounts.
## Going Concern
There are no material uncertainties about the charity’s ability to continue in operation.
8