Nash Mills Village Hall
Balance Sheet Report
To: 31 March, 2024
| ASSETS | ||
|---|---|---|
| Fixed Assets | ||
| 0030 - Office equipment and IT - Cost | 848.46 | |
| 0031 - Office equipment and IT - Accumulated | Depreciation -565.64 |
|
| 0040 - Furniture, Fixtures and fittings - Cost | 660.00 | |
| Total Fixed Assets | £942.82 | |
| Current Assets | ||
| 1100 - Trade Debtors | 2,340.00 | |
| 1110 - Prepayments | 169.76 | |
| 1200 - Bank Current Account | 37,499.40 | |
| 1202 - Bank Deposit Account (Instant) | 84,601.69 | |
| Total Current Assets | £124,610.85 | |
| TOTAL ASSETS | £125,553.67 | |
| LIABILITIES | ||
| Current Liabilities | ||
| 1120 - Deposits Held - Parties | 2,250.00 | |
| 1121 - Prepaid Parties | 1,450.00 | |
| Total Current Liabilities | £3,700.00 | |
| Future Liabilities | ||
| Total Future Liabilities | £0.00 | |
12 Sep 2024 17:07
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| TOTAL LIABILITIES | £3,700.00 | |
|---|---|---|
| TOTAL NET ASSETS | £121,853.67 | |
| EQUITY | ||
| Net Profit / Loss | 121,853.67 | |
| Net Profit / Loss (prior year(s)) | 106,637.55 | |
| Net Profit / Loss (current year) | 15,216.12 | |
| TOTAL EQUITY | £121,853.67 |
12 Sep 2024 17:07
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Nash Mills Village Hall
Profit and Loss Report
01 April, 2023 - 31 March, 2024
| Sales | ||
|---|---|---|
| 4000 - Sales - Regular Hirers | 17,755.00 | |
| 4001 - Car Park Spaces | 5,000.00 | |
| 4005 - Grants and Donations Received | 400.00 | |
| 4010 - Sales - Ad Hoc Parties | 9,647.00 | |
| 4920 - Bank Interest Received | 891.40 | |
| Total Sales | £33,693.40 | |
| Direct Expenses | ||
| 5000 - Cost of Sales - Hall Hire Refunds | 432.00 | |
| 5040 - Cost of Sales - Labour | 2,080.00 | |
| Total Direct Expenses | £2,512.00 | |
| GROSS PROFIT / LOSS | £31,181.40 | |
| Overheads | ||
| 6000 - Marketing | 72.00 | |
| 7110 - Water Rates | 494.09 | |
| 7120 - General Rates | 16.50 | |
| 7200 - Electricity | 1,037.53 | |
| 7210 - Gas & Oil | 2,149.83 | |
| 7220 - Waste Collection | 927.12 | |
| 7500 - Printing | 22.99 | |
| 7520 - Office Stationery | 5.50 | |
| 7521 - Hall Decorations | 50.00 | |
| 7550 - Computer & Software | 165.60 | |
| 7570 - Subscriptions | 36.00 | |
12 Sep 2024 17:06
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| 7611 - Bookings and Hall Management 1,300.00 |
|
|---|---|
| 7620 - Website 416.29 |
|
| 7630 - Business Insurance 704.49 |
|
| 7800 - Repairs, Renewals & Maintenance 5,042.87 |
|
| 7810 - Cleaning & Cleaning Sundries 3,241.65 |
|
| 8030 - Office Equipment and IT Depreciation 282.82 |
|
| Total Overheads | £15,965.28 |
| NET PROFIT / LOSS | £15,216.12 |
12 Sep 2024 17:06
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Lower Road, Nash Mills, Hemel Hempstead, Herts HP3 8RT Treasurer contact tel: 07711 066696; Email NMVHtreasurer@hotmail.com
Treasurer’s Report for Financial Year End March 2024
This year the village hall accounts are fully automated via a Sage Accoun7ng system and have been approved by an external examiner, DG.
Notes to the accounts:
Balance Sheet
Assets
-
which is being wriMen down over 3 years at £282.82 per year
-
Furniture, Fixtures and FiQngs - £660 for a bench installed in the garden. Deprecia7on will start in the next financial year and will be wriMen down over 4 years.
-
Trade Debtors totalling per aMached £2,340.00. Of this, £750.00 has now been paid (as at 28.9.24), a further £150.00 is being paid, and £108.00 has been iden7fied as a cancelled booking so will be credited. This leaves two doub[ul debts of £360 and £972 that may need to be wriMen off. Nego7a7ons will take place with the hirers and moving forward they will need to comply with our terms.
-
Prepayment £169.76 represents the por7on of the insurance payment that relates to FYE 31.3.25 (3 months)
-
Bank accounts: Current £37,499.40; Deposit £84, 601.69; Total £122,101.09. Much of this fund is ringfenced for hall renova7ons taking place in FYE 31.3.25.
Liabili7es
-
Deposits held – Par7es: £2,250.00, a list is available for commiMee to view if required.
-
Prepaid Par7es: £1,450.00; represents future par7es (to be held in FYE 31.3.25 but paid in advance, FYE 31.3.24)
Notes to the P&L account
Total income for the period is recorded as £33,693.40, including bank interest received of £891.40. This shows as an increase of £3, 960.97 on the previous year. This increase is a true reflec7on as this is the first full year since we changed the accoun7ng method.
Summary
The accounts have been ‘audited’ by an independent examiner, Dawn Gardner. Dawn has a great deal of experience in charity accoun7ng, and robustly examines the accounts presented to her.
My grateful thanks to Dawn for her detailed scru7ny, ques7oning and construc7ve cri7cism. Her report is herewith.
Jan Maddern Treasurer
Nash Mills Village Hall
Charity RegistraBon Number: 302433
Independent Examination of Nash Mills Village Hall Accounts
FYE: 31.3.24
Examination completed: 9th September 2024
Having examined the accounts for the financial year to 31.3.24, I am satisfied that the final Balance Sheet and Profit & Loss account, signed off today, are an accurate record of the business of Nash Mills Village Hall for this period. The following points are of note:
-
Purchase Ledger check - It is imperative that all costs are supported by documentation. Persons who regularly receive 'payments' from NMVH for 'services' should provide an annual invoice which describes the services they provide ( if they are not providing monthly invoices). The file has one such for Mrs J Warwick, but not for Mr K Gower. Both receive payments four-weekly.
-
Sales Invoice check - Some of the regular hirers are not paying on time and, more importantly, do not seem to be communicating with either the Booking Secretary or the Treasurer on any change of dates/ time/ usage. This lack of communication is making the keeping of the diary very loose and the managing of the sales invoices/ credit control very time consuming. The hall calendar does not seem to reflect the actual usage. An example of this would be Pi/ates with Jenna, which is not listed within the diary for September 2024, although this group use the hall on Tuesday mornings at 10am for one hour.
The issues with the sales ledger seem to be caused by a lack of continuity with the regular hirers, the diary and the invoicing. This could be improved by one person taking responsibility for the whole process.
-
There is a total aged debt of £2,340.00. All debts are 60 days or more outstanding at the year end. I would predict these were 'queries' requiring credit notes but, if this is the case, the length of time in dealing with these is overlong.
-
The prepayment amount of £169. 76 is a 3 month portion of the insurance costs which relate to the next financial year.
-
I can confirm that the bank account totals shown in the accounts agree to the bank statements.
Dawn Gardner
Independent Examiner