## **FROXFIELD VILLAGE HALL (KING GEORGE V MEMORIAL HALL) REGISTERED CHARITY NUMBER 301829** ## **TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED** **31[st] DECEMBER 2023** ## **Contents** Trustees’ Annual Report Pages 1 to 3 Financial Statements Page 4 Balance Sheet Page 5 Notes to the Financial Statements Pages 6 to 9 Independent Examiner’s Report Page 10 ## **FROXFIELD VILLAGE HALL REGISTERED CHARITY NUMBER 301829 TRUSTEES’ ANNUAL REPORT FOR THE YEAR TO 31[st] DECEMBER 2023** The Trustees present their Annual Report and the financial statements of the charity for the year ended 31[st] December 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the Annual Report and financial statements of the charity. The charity was established by Trust Deed dated 6[th] January 1937, and is registered with the Charity Commission (no. 301829). ## **Objectives and Activities** The charity is established for the holding of the village hall premises for the purposes of physical and mental recreation and social, moral and intellectual development for the benefit of the inhabitants of the Parish of Froxfield (including Privett) and its immediate vicinity. Activities comprise the provision of the Village Hall as a community facility. The Village Hall is available for hire by an individual or organisation in accordance with the standard hiring agreement and scale of charges adopted for the year. ## **Trustees of the Charity** The charity is organised as a Trust run by a Council of Management comprising elected and nominated members. Council of Management members are elected or appointed on an annual basis, with the Chairman and Secretary being elected by and from the membership of the Council of Management. Local organisations using the hall are entitled to nominate one member to the Council of Management each and a further four other members are elected to the Council of Management at each Annual General Meeting, held in April. The members of the Council of Management (the Trustees) and their appointing body where appropriate, who have served during the year are as follows: Elected positions: Robert Shepherd Chairman William Ismay Treasurer David Rymer Fireworks Event Lead and Parish Council Representative Jenna Samengo-Turner Booking Systems, website, invoicing and Garden Club Representative Angela Hiscock Hall Bookings and Cricket Club (incl Darts) Representative Sue Clegg Choir Representative Vickie Farrow (to Sept) Froxfield CE Primary School and Pre-School Representative David Handley (from Sept) Froxfield CE Primary School and Pre-School Representative Sara Greenaway (absent) Parochial Church Council Representative Viv Barnett Country Music Club ## Nominated positions: ## Volunteers: Katherine Matcham Secretary (there being no-one standing for election as Secretary on the Council of Management). ## The name on the Title Deeds is the Official Custodian of Charities. In common with many village halls and other small charities, the Council of Management are volunteers. Details of expenses reimbursed are given in notes 7 and 8. It is not possible to quantify the value of the work done by the Council of Management and other volunteers on behalf of the Village Hall. Page | 1 ## **FROXFIELD VILLAGE HALL REGISTERED CHARITY NUMBER 301829 TRUSTEES’ ANNUAL REPORT FOR THE YEAR TO 31[st] DECEMBER 2023** (continued) ## **Achievements and Performance** Despite improved hall hire revenues and fundraising results in the year, the Village Hall continues to face significant financial challenges. Through this year, the lack of volunteers for the committee has also become a serious challenge and taken together, these challenges threaten the future of the hall in the medium term. Special thanks must go to Froxfield Primary School as our major user, through their Pre-School, PE lessons and after-school clubs. Melody Fry and Gillian Jones have been great supporters and easy to work with, resolving any issues as we go, working well together. Melody has been fantastic in continuing to test the fire alarm systems and water outlets. Our thanks go to all our other hirers and particularly to our regular users including Froxfield Cricket Club, the Parochial Church Council (Drop-In and PCC meetings), the Garden Club, Country Music Club, Choir and the Parish Council (full council meetings and planning sub-committee meetings). In 2023 we enjoyed welcoming Body Fitness Camp, who ran their member activities from the hall on Saturday mornings through the summer months. This was a useful addition to our revenues, but sadly they have since relocated to their own new, dedicated studio in Petersfield. Our thanks too, to Froxfield Cricket Club for clearing their debts at the beginning of the year in line with our agreement, and for clearing the changing rooms and the outside store. The cricket club is a key hirer and supporter of the hall, as well as offering community activity through both cricket and darts. Members of the Council of Management continued to work hard to keep the hall running and through 2023 organised new fundraising events to help drive financial performance. Fundraising activity that took place in the year ending December ’23 included a number of pop-up social events and the very successful annual Fireworks, attended by c.300, sited outside the Village Hall and on the recreational field, supported by the Parish Council. We must also record our gratitude to the DeHalperts for their very generous donation to the hall, to help with the maintenance works. During the year, the Trustees also purchased and erected a new noticeboard, which was funded by a generous donation from a resident in 2021. In order to raise further funds, several grant applications were successful, resulting in £6.9k of funds. These were to contribute to urgent maintenance works, including refurbishing and repairing the main hall floor and changing the lighting over to LED. Our sincere thanks go to County Councillor Oppenheimer, District Councillor Drew, the Parish Council and the team behind EHDC’s Community Climate Action Fund. A successful insurance claim covered much of the cost of the heating system repairs. Of the £33k of capital spent in 2023, over half (£17.5k) was spent on the car park works, including accessible parking spaces, a new pavement, including wheelchair access provision at the side entrance and planters. This spend was mandatory, as part of the match-funding to the Supporting Communities Fund grant of £20k in 2020. The first phase had been completed in 2021 and this 2[nd] phase was overdue. The transformation is significant and has made the access easier and safer, receiving a lot of positive feedback. Unfortunately, our 5-year electrical inspection completed in late 2022, resulted in £5.6k of rectification works in 2023. In addition, a failure of some lights and recommended improvements to the distribution system, led to another £1.4k of spend on the electrical and lighting system, all of which has further reduced Reserves. Page | 2 ## **FROXFIELD VILLAGE HALL REGISTERED CHARITY NUMBER 301829 TRUSTEES’ ANNUAL REPORT FOR THE YEAR TO 31[st] DECEMBER 2023** (continued) Looking ahead, the hall needs more significant funds for refurbishment. Most, if not all, of the windows and doors have leaks or draughts. The toilets and kitchen need refitting and each of the letting spaces need redecorating. This will require significant further fundraising activity, including grant applications. The key issue is whether we will have sufficient volunteers to join the committee to take on this planning and implementation activity. In addition, the fundraising activities in 2023, whilst successful, fell on to too few people to organise and so cannot feasibly be repeated in 2024 without significant help from more volunteers; to join the committee and/or to organise events. The Trustees would like to thank everyone that has worked so hard in 2023 to keep our community hub operating. ## **Financial Review (including reserves policy)** This year the cash spent again exceeded cash inflow, due to continued costs of maintaining the Hall. However, the income from hall hire has increased by 40% and cash generated from fund raising events increased by 175%, on the previous year. The Charity banks with Santander Bank. Free reserves (that is funds not invested in fixed assets) have significantly decreased over the past year and represent approximately sixteen months of average annual expenditure calculated over the past three years (2022 twenty-one months of average expenditure). ## **Risk Management** As required by the Charity Commission, the Committee regularly undertake reviews of the significant risks to the charity to ensure that appropriate mitigation policies exist. For and on behalf of the Council of Management 26[th] June 24 26[th] June 24 ………………………………………… Date: ………………. ………………………………………… Date: ………………. W Ismay R Shepherd Treasurer Chairman Page | 3 ## **FROXFIELD VILLAGE HALL REGISTERED CHARITY NUMBER 301829 FINANCIAL STATEMENTS FOR THE YEAR TO 31[st] DECEMBER 2023** |**Notes**
**INCOME**
**Voluntary income:**
Donations including gift aid tax
recovered
**Activities for generating funds:**
Fundraising events
**6**
Renovations /Grant received
Deposit interest
**Income from generated**
**funds**
**Charitable activities:**
Charges for hall hire
**TOTAL INCOME**
**EXPENDITURE**
Fundraising costs
**6**
Charitable activities - Village
Hall
Electricity
Oil
Rates and water rates
Repairs and renewals
Cleaning and sundries
Subscriptions
Insurance
Caretaker
Renovation/Car park
expenses
Depreciation
**TOTAL EXPENDITURE**
**Net income/(expenditure)**
Fund balances brought
forward
**Fund balances carried**
**forward**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**2022**
**£**
**£**
**£**
**£**
2,224
0
2,224
0
13,283
0
13,283
5,185
6,438
0
6,438
500
145
0
145
7| |---|---| ||22,090
0
22,090
5,692
13,841
0
13,841
11,458| ||£35,931
£0
£35,931
£17,150| ||£6,233
£0
£6,233
£2,207| ||2,076
0
2,076
2,197
2,220
0
2,220
1,941
856
0
856
437
18,945
0
18,945
5,604
3,103
0
3,103
2,528
260
0
260
312
2,645
0
2,645
3,249
0
0
0
0
17,449
0
17,449
6,220
3,444
6,030
9,474
9,500| ||£50,998
£6,030
£57,028
£31,988| ||£57,231
£6,030
£63,261
£34,195| ||-21,300
-6,030
-27,330
-17,045
150,245
171,882
322,127
339,172
£128,945
£165,852
£294,797
£322,127| The notes on pages 6 to 9 form part of these financial statements Page | 4 ## **FROXFIELD VILLAGE HALL REGISTERED CHARITY NUMBER 301829 BALANCE SHEET AS AT 31[st] DECEMBER 2023** |**Notes**
**2023**
**2023**
**£**
**£**
**Fixed Assets**
Village Hall
**2**
247,608
Furniture and Equipment
**2**
0
247,608
**Current Assets**
Stock
1,539
Debtors: Hall hire charges
1,386
Gift Aid tax relief
0
Prepayments
20
Balances at Bank:
Deposit Accounts
32,097
Current Account
13,311
Cash Float
392
48,745
Liabilities – amounts falling due within one year
Creditors
**3**
1,556
**Net Current Assets**
47,189
Total Assets less Current Liabilities
£294,797
**Represented by:**
**FUNDS**
**Unrestricted Income Funds:**
General Fund
128,945
**Restricted Fund**
165,852
£294,797
For and on behalf of the Council of Management
26thJune 24
…………………………………………
Date: ……………….
………………………………
W Ismay
R Shepherd
Treasurer
Chairman|**2023**
**£**
1,539
1,386
0
20
32,097
13,311
392|**2023**
**£**
247,608
0|**2022**
**£**
239
2,835
0
20
55,002
8,036
0|**2022**
**£**
257,083
0| |---|---|---|---|---| |||247,608
47,189||257,083
65,044| ||||66,132
1,088|| |||£294,797||£322,127| The notes on pages 6 to 9 form part of these financial statements Page | 5 **FROXFIELD VILLAGE HALL REGISTERED CHARITY NUMBER 301829** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31[st] DECEMBER 2023** ## **1. Summary of Significant Accounting Policies** ## **General Information and Basis of Preparation** Froxfield Village Hall is a registered charity in England (no. 301829). The nature of the charity’s operations and principal activities are for the holding of the village hall premises for the purposes of physical and mental recreation and social, moral and intellectual development for the benefit of the inhabitants of the Parish of Froxfield and its immediate vicinity. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Practice as it applies from 1 January 2015. The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling, which is the functional currency of the charity and rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## **Funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. ## **Hall Hire** Charges for hall hire are credited to the Statement of Financial Activities when the hire occurs. ## **Grants and Donations** Grants and donations are credited to the relevant fund in the Statement of Financial Activities when they are received. ## **Charitable activities** The costs involved in the operation of the village hall are included on an accruals basis. Page | 6 ## **FROXFIELD VILLAGE HALL REGISTERED CHARITY NUMBER 301829 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31st DECEMBER 2023** (Continued) ## **Depreciation** Depreciation is provided on the Village Hall building and furniture and equipment at the following rates based on the estimated useful life of these fixed assets and their anticipated residual value: Village Hall building 2% per annum (straight line basis) Furniture and equipment 25% (straight line basis) ## **Fundraising costs** Fundraising costs are charged to the Statement of Financial Activities when the fundraising activities occur. ## **Taxation** As a registered charity, no liability to taxation arises. ## **2. Fixed Assets - Used by the charity** |**Cost/Valuation**
1stJanuary 2023
Additions
Disposals
31stDecember 2023
**Depreciation**
1stJanuary 2023
Charge for the year
Disposals
31stDecember 2023
**Net book value at 31st December 2023**
Net book value at 1stJanuary 2023|**Freehold**
**Furniture and**
**Total**
**Village Hall**
**Equipment**
**£**
**£**
**£**
473,678
7,654
481,332
0
0
0
0
0
0| |---|---| ||£473,678
£7,654
£481,332
216,596
7,654
224,250
9,474
0
9,474
0
0
0| ||£226,070
£7,654
£233,724| ||£247,608
£0
£247,608| ||£257,082
£0
£257,082| The Village Hall building has been valued at 75% of the sum insured in 1997 plus the cost of additions acquired subsequently. Page | 7 ## **FROXFIELD VILLAGE HALL REGISTERED CHARITY NUMBER 301829 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31st DECEMBER 2023** (Continued) ## **3. Creditors: amounts falling due less than one year** |Creditors
Retention on building contract
Grants received to pay in due course
Deposits received in advance
Accruals|**2023**
**2022**
**£**
**£**
1,466
998
0
0
0
0
90
90
0
0
£1,556
£1,088| |---|---| ## **4. Summary of Net Assets by Funds** |Fixed Assets
Net Current Assets
**Net Assets**|**Unrestricted Fund**
**Restricted Fund**
**Total**
**£**
**£**
**£**
79,211
168,397
247,608
49,734
-2,545
47,189
£128,945
£165,852
£294,797| |---|---| ## **5. Funds** There are two restricted funds representing: - a) Monies received for the Village Project to extend the facilities available at the hall b) Monies received for the Car Park Renovation at the hall |**Restricted Funds**
Brought Forward
Income
Expenditure
**Carried Forward**|**Village Project**
**Car Park/Renovations**
**Total**
**£**
**£**
**£**
170,882
1,000
171,882
0
0
0
-6,030
0
-6,030
£164,852
£1,000
£165,852| |---|---| Page | 8 ## **FROXFIELD VILLAGE HALL REGISTERED CHARITY NUMBER 301829 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31[st] DECEMBER 2023** (Continued) ## **6. Fundraising Events** |**2023**
**Unrestricted**
Lottery
Fireworks & Pop-ups
**Restricted**
Burns Night
Quiz Night
Zimbe
**2022**
**Unrestricted**
Lottery
Fireworks
**Restricted**
Burns Night
Quiz Night
Zimbe|**Costs**
**Proceeds**
**Net**
**£**
**£**
**£**
0
69
69
6,233
13,214
6,981| |---|---| ||£6,233
£13,283
£7,050| ||0
0
0
0
0
0
0
0
0| ||£0
£0
£0| ||**Costs**
**Proceeds**
**Net**
**£**
**£**
**£**
0
0
0
2,207
5,185
2,978| ||£2,207
£5,185
£2,978| ||0
0
0
0
0
0
0
0
0
£0
£0
£0| ## **7. Trustees’ Expenses** No other members of the Council of Management, nor any person connected with them has received or is due to receive any remuneration or Trustees’ Expenses for the year directly or indirectly from the Charity’s funds. ## **8. Comparative Figures** All the previous year comparative figures relate to unrestricted funds except depreciation of £6,030. Page | 9 ## **EXAMINER’S REPORT TO THE COUNCIL OF MANAGEMENT OF FROXFIELD VILLAGE HALL REGISTERED CHARITY NUMBER 301829** I report to the Trustees on my examination of the accounts of Froxfield Village Hall (the charity) for the year ended 31 December 2023. ## **Responsibilities and Basis of Report** As the trustees of the charity 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 2011 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: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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. Despite the challenges referred to in the Trustee’s Report, there are no indications that Froxfield Village Hall will not continue in operational existence for at least one year from the date of approval of the financial statements. The accounting policies include a short note about the adoption of the going concern basis and I consider that this is reasonable. 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. **----- Start of picture text -----**
Melody Fry (Oct 21, 2024 15:49 GMT+1)
**----- End of picture text -----**
Mrs M Fry ACA Froxfield Petersfield Hampshire Date …26[th] June 2024……. Page | 10 ## Trusteees' Annual Report and Financial Statements 2023 - Signed ## Final Audit Report 2024-10-21 Created: 2024-10-21 By: Robert Shepherd (rob.feetup@gmail.com) Status: Signed Transaction ID: CBJCHBCAABAAhVbvbEdVWEnIy4xKblRcnPwSv9TMfLj7 ## "Trusteees' Annual Report and Financial Statements 2023 - Sign ed" History Document created by Robert Shepherd (rob.feetup@gmail.com) 2024-10-21 - 2:45:13 PM GMT Document emailed to Melody Fry (m.fry@froxfield.hants.sch.uk) for signature 2024-10-21 - 2:46:42 PM GMT Email viewed by Melody Fry (m.fry@froxfield.hants.sch.uk) 2024-10-21 - 2:48:29 PM GMT Document e-signed by Melody Fry (m.fry@froxfield.hants.sch.uk) Signature Date: 2024-10-21 - 2:49:19 PM GMT - Time Source: server ## Agreement completed. 2024-10-21 - 2:49:19 PM GMT