Charity Registration Number: 302645 ## **Huntingdon Commemoration Hall** ## **Unaudited** **Annual Report and Financial Statements** **For the Year Ended** **31 March 2021** ## **HUNTINGDON COMMEMORATION HALL** ## **Contents** ||**Page**| |---|---| |**Charity Reference and Administrative Information**|1| |**Trustees’ and Chair’s Report**|2 - 6| |**Independent Examiner’s Report**|7| |**Statement of Financial Activities**|8| |**Balance Sheet**|9| |**Notes to the accounts**|10 - 15| **HUNTINGDON COMMEMORATION HALL** **REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2021** ## **The charity name** The legal name of the charity is: Huntingdon Commemoration Hall ## **The charity's areas operation and UK charitable registration** The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 302645. ## **Legal structure of the charity** The Governing Document of the charity is the Trust Deed establishing the charity. The Governing Document is dated 10 November 1947. The trustees are all individuals. ## **The principal operating address of the charity is:** 39 High Street, Huntingdon, PE29 3AQ The charity’s website address is www.commhall.org ## **The Trustees in office on the date the report was approved were:** P Sweeney (Chair) A Beevor D Whitehead A Welsh A McAdam S McAdam S Stammler G Makey P Vialls E Carpenter E Daly (appointed 5 July 2021) |**The following persons served as Trustees during the year ended 31 March 2021:**|**The following persons served as Trustees during the year ended 31 March 2021:**| |---|---| |**Name**|**Appointed**| |P Sweeney|2018| |A Beevor|2015| |D Whitehead|2005| |A Welsh|2014| |A McAdam|2018| |S McAdam|2015| |S Stammler|2018| |G Makey|2018| |P Vialls|2019| |E Carpenter|2019| The power of appointing new or additional trustees’ vests with the existing trustees and they must be nominated by resolution of the Committee. The Committee must consist of not less than twelve and not more than twenty people. ## **Bankers** CAF Bank Ltd 25 Kings Hill Avenue West Malling ME19 4JQ Barclays Bank plc 1 Market Hill Huntingdon PE29 3AE ## **Accountants** Kinnaird Hill Montagu House 81 High Street Huntingdon PE29 3NY 1 ## **HUNTINGDON COMMEMORATION HALL** ## **TRUSTEES' AND CHAIR’S ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021** The trustees’ present their report and the financial statements for the year ended 31 March 2021. Reference and administrative information set on page 1 forms part of this report. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements, the Charities Act 2011, Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (the Charities SORP”) and comply with the charity’s governing document. ## **Objectives and activities of the charity** The Huntingdon Commemoration Hall Charity's activities are based on the objects of the Charity stated in the original Trust Deed dated 1947 and subsequent Memorandum of Amendment, namely to provide and promote for the benefit of the inhabitants of Huntingdon (and particularly for those of less financial means) facilities for their recreation or welfare. ## **Public benefit** The Hall continued to be let to local community groups and the trustees have paid due regard to guidance issued by the Charity Commission’s in deciding what activities the charity should undertake. ## **The achievements and performance of the charity during the year is described in the following Chair’s report.** Following a successful re-opening of the Hall at the end of 2019, this past year was certainly not the one for which we had planned. Covid-19 has hit us all in different ways and many have struggled through uncertainty. The impact of the pandemic is likely to affect businesses, charities and of course individuals for years to come. Finances have been challenging, and although emergency grants were available many of us have seen and experienced hardship. For the Hall specifically, we’re hugely grateful to the Huntingdonshire District and Town Councils for their support and financial aid over the last 18 months. I feel we would be in a very different place without it. That said, our charity didn’t take the pandemic laying down and, in socially distanced work groups, we completed the extensive renovation and decorating works begun in 2019. Covid may have prevented us from welcoming guests but it did afford us the time to make the Hall look and feel vibrant for our local community. And that, to me, sums up the Hall: our community. Against all odds our community pulled together like never before to ensure that, once allowed, we re-opened with a fresh new look that, as our guestbook testifies, really delivers on the WOW factor. Though this annual financial report only covers the period of April 2020 to March 2021, I want to take the opportunity to share with you some of the remarkable progress the Hall has made since fully re-opening. On the 5th July 2021 we launched our brand new Arts Café. Heralding the start of a new era, with our first employee Jenny Taylor at the helm to welcome guests with excellent coffee and locally-sourced cakes, the Café represents a huge step forward for us; it means we keep our doors open throughout the week, welcoming local people into a safe and warm space where they can relax and explore their creativity through our varied programme of events. We’ve had a number of people comment about the nature of ‘Art’ in our ‘Arts’ Café, and we are keen to highlight the ‘s’ – arts plural – incorporating the Visual (including ceramics, drawing, filmmaking, painting, photography), Literary (fiction, drama, poetry and prose) Performing (dance, music and theatre) and Textile (knitting, crochet, decorative). Almost all have featured in our programme during the first two months alone, something of which our Trustees are rightly proud. 2 **HUNTINGDON COMMEMORATION HALL** **TRUSTEES' AND CHAIR’S ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021** The Café is the perfect vehicle for us to introduce guests to our refreshed venue and bring attention to the amazing programme for the months ahead. As alluded to above, feedback so far has been outstanding and many new faces are discovering the Hall and choosing us as their preferred café destination, ahead of the more commercial high street options. We consciously opened quite slowly to give our staff and volunteers time to create a new atmosphere, ensuring that guest experience is positive, inclusive and high by any standard. We reject the idea that charity means amateur and aspire to have the Café grow and become _the_ thriving Arts Hub in our town. In our launch month we also delivered “Curtains Up – The Commemoration Hall Launch Night” on a date unplanned but turned out to be serendipitous; the original trust deed for the building was signed on July 21[st] 1842, and as fate would have it the second deed creating the charitable entity the Hall is today was also signed on the July 21[st] , in 1959. In front of an invited audience of more than 100 local dignitaries, charity workers, volunteers, supporters and past users of the Hall, we celebrated our history, marked the relaunch and outlined our future plans. Emotional speeches from Trustees were accompanied by an ambitious Variety Show, put together entirely through lockdown, to ensure the night was a huge success. Our simple message was, “The Commemoration Hall is BACK!” 3 **HUNTINGDON COMMEMORATION HALL** **TRUSTEES' AND CHAIR’S ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021** ## **Arts Alive @ The Commemoration Hall** Not wanting to rest on our own laurels, in August 2021 we launched Arts Alive @ The Commemoration Hall – a diverse, 12 week programme of creative events including model painting, poetry and fiction days, circus workshops, a celebration of comic book art, storytelling and art classes, delivered with our good friends and supporters at the Huntingdon and Godmanchester Twinning Association. The vast majority of events were free to participants, in keeping with our charitable mission to make the arts accessible to those of lesser means. All were designed to inspire creativity and to date we have welcomed over 300 children and adults into the Hall. The volunteer group delivering Arts Alive were another huge demonstration of the love for the building from our community. Here’s to Arts Alive 2 in 2022! ## **The Future** Programming for the remainder of 2021-22 and beyond is now full steam ahead, and now that restrictions on audience size has lifted larger scale events can return. We’ve kick started our regular Bingo nights and are proud to announce that our comedy nights are BACK, on the first Saturday of each month, and we’ve already had some nationally-recognised performers grace the stage including Milton Jones and Reginald D Hunter. Musical performances have included _Gimme! Gimme! Gimme!_ - the ABBA Tribute act and regular, folk-inspired acoustic nights delivered in partnership with Niche Comics. A host of great shows are booked until the end of the year: Solve-A-Long-A-Murder-She-Wrote, RevPro Wrestling, The Pantaloons, Huntingdon Drama Club Present ‘Together Alone’, Lets Zep Tribute, George Michael Tribute, Halloween crafts, Crime Fiction, Military History, Haunted Huntingdon Talks and Q&A, Open Mic Poetry, Art Exhibitions and of course our now annual Christmas Party to name just a few. September also saw the welcome and emotional return of Huntingdon Youth Theatre (HYT) to the Hall, a group I am happy to say I helped launch with our Vice-Chair Dominic Whitehead and his wife Beryl-Anne in 1997. Following the return of their parent group Huntingdon Drama Club, HYT use the Hall every Tuesday evening, bringing children from 11 upwards together to perform and learn stagecraft. Building on this progress 2022 is already shaping up to be an outstanding year, and we look forward with confidence. ## **Volunteers** The Hall has a rich history of engaging volunteers, the renovations referenced above completed through a staggering 5000 hours of voluntary effort. Our Café is supported daily by even more new volunteers, working alongside Jenny, promoting the Hall and serving our guests. So on behalf of the Trustees I’d like to offer an enormous thank you to each and every person who has donated their time and talents over the last year. May the Hall continue to inspire people to give back to their local community through us. ## **Trustees – policies adopted for the induction and training of Trustees** Training of the trustees’ is undertaken on an informal basis. Each new trustee upon his or her appointment will be given a copy of the Trust Deed and any amendments to it, as well as a copy of the charity’s latest report and statement of accounts. All trustees are kept informed at meetings of their duties and obligations under the law in addition to their proper conduct. 4 **HUNTINGDON COMMEMORATION HALL** **TRUSTEES' AND CHAIR’S ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021** ## **Financial Review** ## **a) Principal funding** As shown in the Financial Statements, we have continued to improve our financial position this year. The charity’s income is made up primarily of grants from the local council which was a direct result of the boards’ focus on this area during the year. The grants received contributed to the cost of the refurbishment and improvement of the hall as mentioned above. As at 31 March 2021 the charity had £27,093 (2020: £7,326) in unrestricted funds. This puts the charity in a robust position to initiate further incoming generating charitable activities and projects with an eye on achieving the long-term objective of becoming financially self-sufficient. The charity recorded a net surplus of £19,767 (2020: £3,290) for the year. The entire resources of the charity are unrestricted and the trustees have complete discretion for their use. The trustees meet at properly convened meetings to review the assets and finances of the charity. ## **b) Principal risks and uncertainties** The trustees have considered the major risks to which the charity is exposed and have satisfied themselves that they have robust systems and procedures in place in order to manage those risks. ## **c) Reserves policy** It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to three month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in income, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. ## **d) Going concern** Since the year end restrictions have been lifted enabling the opening of the Arts Café, the return of live events and a full host of activities in the pipeline and considering post year end results the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, albeit there may be a lower level of grants received. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **Our Values** This year has been unashamedly about income generation and getting people through the doors once more to use and value the Hall. However, we have not taken our eye off the long-term, and we have invested time with our Trustee board to explore our values to guide us in how the Hall develops in the long-term to become independently financially sustainable. We have established three strong core values that we can use to support the Hall in an ever-changing world. These are: **1. Making the Hall feel welcoming, warm, safe, and inclusive to all users.** **2. Encouraging a diverse range of nourishing and uplifting events, performances, and productions.** **3. Preserving the Hall and its heritage for the benefit of the local community, ensuring it is run professionally and sustainably.** ## **And Finally…** ‘Inspiring creativity’ has been adopted as our new mantra. It’s who we are and what we stand for. We want to inspire people to push themselves, try new things, see things they’ve never seen before and experience feelings they didn’t realise they had. Our programme will grow to reflect these ambitions, though I already have to pinch myself whenever I think of what has been already achieved, through such turbulent times. We will continue to build on the momentum we have created by growing our programme and audiences. Stay Tuned! 5 HUNTINGDON COMMEMORATION HALL TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021 Statèment of Trustees. Responslbllltlos The trustees are re¥Jonsible for preparing the Trustees. Rewt and the financial statements in accordance wi(h applic8ble law and United Kingdom AccountiThJ Standards (United Kingdom Generally Accepted AccoLbnting Practice}. The law appluble to charities in England and Wales requires the trustees to prepare financial statements fc* each financial year wh￿h give a true and fair view of the state of affairs of the ch8rf(y and of the incoming resources and application of resources of the charty for that year. In preparing these financial slatemonts, the trustees are required lo.. select suftabla accounting polic￿$ and then apply th￿ consistently, observe the methods and principles in the Char((ies SORP 2015 IFRS1021', - make judgements and estimates th81 are reasonable and prudent., - Slate whether appI￿ab￿ accounting standards have been folljwed, $ubje¢l to any material departures disclosed and explained in the financial slalements., and - prepare the financial ststemenls on the going concern ba51$ unless it is inapproprk4te to presLme that the charity will continue in Lweration. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy al any time, the financial posf(ion of the ch8rily and enable them to ensure that the financial statements compty wrth the Charrties Act 2011, the Charty {Accounls aThY Reports) Regulations 2008 and the provisions of the trust deed. They are alsd ￿spOnsible for safeguarding the assets of the charrty and hence for taking reasonable Steps for the prevention and deleGtion of fraud and other irreguLgrities. Approved by er of the board of trustees and signed on their behaw by.. Paul Svrnenèy Chair Dalg.. 22 November 2021 ## **HUNTINGDON COMMEMORATION HALL** ## **Independent Examiner’s Report to the Trustees of Huntingdon Commemoration Hall** I report to the trustees on my examination of the financial statements of Huntingdon Commemoration Hall (‘the charity’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed. ## **Responsibilities and basis of report** As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 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. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement. ## **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: - ➢ accounting records were not kept in respect of the charity as required by section 130 of the Act; or - ➢ the financial statements do not accord with those records; or - ➢ the financial statements 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. 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 financial statements to be reached. ## **Nita Hutchcraft FCCA** ## **For and on behalf of Kinnaird Hill** ## **Certified Chartered Accountants** Montagu House 81 High Street Huntingdon PE29 3NY Date: 1 December 2021 7 ## **HUNTINGDON COMMEMORATION HALL** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021** _________________________________________________________________________ |Note
**Income from**
Donations and legacies
Charitable activities
2
**Total income**
**Expenditure**
Charitable activities
7
Other expenditure
**Total expenditure**
7
**Net income for the year**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2021**
**Total**
**funds**
**2021**
**£**
**£**
3,859
3,859
31,390
31,390|Total
funds
2020
£
45
23,625| |---|---|---| ||35,249
35,249|23,670| ||15,482
15,482
0
0|20,380
0| ||15,482
15,482|20,380| |||| ||**19,767**
**19,767**|3,290| ||**7,326**
**7,326**
**19,767**
**19,767**|4,036
3,290| ||**27,093**
**27,093**|7,326| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages on 10 to 15 form part of these financial statements. 8 HUNTINGDON COMMEMORATION HALL BALANCE SHEET AS AT 31 MARCH 2021 Note 2021 2020 Flxed Assets Tangible Assets 4,817 Current Assgts Debtors Cash al bank and in hand 79 7,806 Total current assets 22,756 7,806 Creditors: amount falllng due wlthln one year {480) Nèt current •88ets 22,276 7,326 Total net a8s0ts 7,326 The total net assets of the charity are funded by the funds of the charity as follows.. 2021 2020 Charfty funds Unrestricted funds 27,093 7,326 Total fund8 7,326 The finan¢ial statements were approved and authorised for issue by the trustees and signed on their behalf by.. Eamonn Daly Date." 22 November 2021 The notes on pages 10 to 15 form part of these financial slatemenls. **HUNTINGDON COMMEMORATION HALL** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021** ## **1. Accounting policies** ## **a) Basis of Preparation** The accounts (financial statements) have been prepared under the historic cost convention, and in accordance with the relevant version of the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice **.** The charity meets the definition of a public benefit entity under FRS 102. The financial statements have been prepared to give a “true and fair” view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a “true and fair” view. This departure has involved following “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 UK and Republic of Ireland (FRS 102) (Second Edition) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. ## **b) Comparatives** The comparative numbers for the year ended 31 March 2020 were not subject to an Independent Examination. ## **c) Going concern** Since the year end restrictions have been lifted enabling the opening of the Arts Café, the return of live events and a full host of activities in the pipeline and considering post year end results the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, albeit there may be a lower level of grants received. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **d) Income** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. ## **e) Resources Expended** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. ## **f) Taxation** The Trustees consider that the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and no other purpose. Value added tax is recoverable by the charity 10 ## **HUNTINGDON COMMEMORATION HALL** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021** ## **1. Accounting policies (continued)** ## **g) Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residential values over their useful lives on the following bases: Fixtures, fittings and equipment 25% reducing balance ## **h) Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **i) Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. ## **j) Financial instruments** The Charity has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the Charity becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. The Charity’s policies for its major classes of financial assets and financial liabilities are set out below. ## Financial assets Basic financial assets, including trade and other debtors, cash and bank balances and financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. 11 **HUNTINGDON COMMEMORATION HALL** **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021** ## **1. Accounting policies (continued)** ## **Financial instruments (continued)** ## Financial liabilities Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. ## Impairment of financial assets Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of financial activities. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the statement of financial activities. ## **Derecognition of financial assets and financial liabilities** Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. ## **Offsetting of financial assets and financial liabilities** Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 12 ## **HUNTINGDON COMMEMORATION HALL** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021** ## **1. Accounting policies (continued)** ## **k) Fund Accounting** Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds can be used only for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for a particular restricted purpose. ## **l) Employees** There were no employees during the year. ## **2.** ## **Grants received** During the year the charity received grants totalling £ 26,708 from Huntingdon District Council through their Local Restriction Support Grants scheme. ## **3.** ## **Trustee's Remuneration and Benefits** There were no trustees' remuneration or any other benefits for the year ended 31 March 2021 (31 March 2020 - £ nil). ## **Trustees' expenses** Trustee's expenses paid for the year ended 31 March 2021 were £ 4 (31 March 2020 - £ 329). ## **4.** ## **Independent examiner ’ s remuneration** The independent examiner ’ s remuneration amounts to an independent examiner fee of £ 480 (2020: £ 480). ## **5. Tangible fixed assets** |**Cost**
At 1 April 2020
Additions
Disposals
At 31 March 2021
**Depreciation**
At 1 April 2020 & 31 March 2021
**Net book value**
At 1 April 2020
At 31 March 2021|**Fixtures,**
**fittings and**
**equipment**
**£**
0
4,817
0| |---|---| ||4,817| ||0| ||0| ||4,817| ## **6. Creditors: Amounts falling due within one year** |Accountancy fees|**2021**
**£**
480|**2020**
**£**
480| |---|---|---| 13 ## **HUNTINGDON COMMEMORATION HALL** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021** ## **7. Support costs for charitable activities** |**Premises expenses**
Council tax
Light and heat
Water rates
Appliances testing
Repairs
**Administrative overheads**
Software licences
Insurance
Telephone and internet
Trustee expenses
Sundry and stationery
Other council payments
Advertising
HMRC payments
Events
**Professional fees**
Accountancy costs
**Financial costs**
Bank charges
**Total support costs**|**Current**
**year**
**unrestricted**
**funds**
**Current**
**year**
**restricted**
**funds**
**Current**
**year**
**total**
**Prior**
**year**
**total**
**£**
**£**
**£**
**£**
412
0
412
796
5,079
0
5,079
6,062
584
0
584
367
0
0
0
720
6,549
0
6,549
3,375
57
0
57
264
1,365
0
1,365
1,393
566
0
566
284
4
0
4
329
128
0
128
3,196
124
0
124
370
66
0
66
400
0
0
0
871
0
0
0
1,413
480
0
480
480
68
0
68
60| |---|---| ||**15,482**
**0**
**15,482**
**20,380**| 14 ## **HUNTINGDON COMMEMORATION HALL** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021** ## **8. Grant award** In the previous year the Charity was awarded a restricted grant of £5,000 from Huntingdon Freemen’s Trust towards restoration costs of the hall of which £2,568 was spent on a disabled ramp in that year. The remainder of the grant was spent after the balance sheet date. 15