BOROUGH GREEN VILLAGE HALL
Trustees' Report and Financial Statements
Charity number 302687
31 December 2020
Borough Green Village Hall Trustees' report and financial statements 31 December 2020
| Contents | |
|---|---|
| Legal and Administrative Details | 1 |
| Trustees Report forthe year ended 31 December 2020 | 2 - 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes | 7 - 10 |
Charity number 302687
Borough Green Village Hall Trustees' report and financial statements 31 December 2020
Legal and Administrative Details
Custodian Trustee
The Official Receiver for Charities
Trustees
Mrs. B Cheeseman Elected Mrs. P Moorcroft Community representative Mrs. M. Vick Elected Mr A Hurll Borodara representative Mrs. L Hill Elected Mrs. J Taylor Co-opted Mr. H Ahamed Community representative Mrs M White Tuesday Ladies Club Representative Mrs. S. Gould Parish Council representative
Correspondence Address
32, Station Road, Borough Green TN15 8EY
Independent Examiner
Gilbert Stark, 16,Tilton Road, BoroughGreen, TN15 8RS
Bankers
NatWest, 43, Swan Street, West Malling ME19 6HF
Charity Number
302687
Charity Number: 302687
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Borough Green Village Hall Trustees' report and financial statement 31 December 2020
Trustees Report for the Year Ended 31 December 2020
The trustees have the pleasure of submitting their report together with the accounts for the year ended 31 December 2018
Reference and Administrative Details
Borough Green Village Hall operates under a constitution dated 20 November 1964 and is a registered charity under number 302687.
Structure, Governance and Management
The Management Committee is comprised of three trustees elected at the Annual General Meeting, up to six "representative" trustees nominated by village organisations plus, where necessary, co-opted trustees deemed or members co-opted by the elected and "representative" trustees. Any decision to discontinue use of the Hall or to sell the property are subject to approval at a general meeting of the inhabitants in accordance with the trust deed.
There are no relationships between the trustees and any related p arties. The work of the Management Committee is conducted entirely by volunteers.
Objectives and Activities
The trust property was formed for the purposes of a village hall for the use of the inhabitants of the area of Borough Green and the immediate neighborhood, without distinction of sex, race, political and religious or other opinions and in particular for use 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 inhabitants.
The ongoing policy of the Trustees is to maintain the Hall in good condition and improve the facilities offered for the benefit of the inhabitants.
Achievements and Performance
The Village Hall has been cleaned, maintained and insured throughout the year with any necessary repairs carried out.
Financial Review
The financial deficit is £1,067 (2019 surplus £1,332). The position of the trust at the year end is healthy, withtotal net assets of £146,666 ( 2019 : £148,404)
However, the trustees consider "free reserves" to be cash and investments and this has increased from £ 82,618 in 2018 to £86,926 in 2019 . It is the policy of the Trustees, wherever possible, to maint ain a minimum of at least a year's expenditure in free reserves plus a provision for unforeseen future maintenance projects deemed necessary for the maintenance or improvement of the Hall. Current reserves represent275% of expenditure for 2020.
Charity number 302687
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Borough Green Village Hall Trustees' report and financial statements 31 December 2020
Risk Management
The trustees consider that the main risk to the charity is damage or structural issues with theHall.
However, the hall was given a clean bill of health in 1999 by structural engineers and t he surveyor who carried out the original survey has this year advised that while no further structural survey is needed regular maintenance should be kept up-to-date. As this is anageing building (erected in 1964) maintenance is expensive but the Hall is well able to meetsuch costs.
The trustees also continue to invest inimproved security to help prevent malicious damage tothe hall.
Public Benefit
The Charities Act 2006 ("the Act") now requires the Trustees to report on how their activities meet the definition of "public benefit" contained within the definition of charitable purpose in the Act. There are two key principles of public benefit which are:
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There must be an identifiable benefit or benefits
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Benefit must be to the public or a section of the public.
The identifiable benefit of the Borough Green Village Hall ("the Hall") is that it provides thecommunity with three spaces of varying size in which to carry out social and leisure pursuits. For example, the Hall is use d by a local Amateur dramatics society, several clubs and organisations, also for private parties. The hall is also available for small businesses to use. For example, the hall is used extensively by the Caroline Clare School of Dance providing dance tuition to all ages.
The use of the hall is not restricted. Hirers of the Hall can be anyone over the ag e of 18 and, although the Charity was established with the aim of providing a Hall to the inhabitants of Borough Green and the surrounding area, any person no matter where they live is entitled to hire any of the three spaces in the Hall.
The Trustees have to charge a fee for the use of the Hall. This is because the hall receive s no income from donations or other voluntary fundraising sources. The aim of the fee charged is to cover costs and to set aside funds for future maintenance and upgrades to the Hal l. The fee charged does not prevent those in poverty from using the hall. No person benefits privately from the hall; all the Trustees are unpaid volunteers and the Hall has no employees.
This report was approved by the Committee and signed on their behalf by:
| This report was approved by the Committee and signed on their behalf by: | |
|---|---|
| 28 Station Road | |
| Ms. L Hill | Borough Green |
| Chairman | TN15 8EY |
| August, 2021 4/10/21 |
Charity Number: 302687
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Borough Green Village Hall Trustees' report and financial statements 31 December 2020
Independent Examiner's Report
I report to the trustees of Borough Green Village Hall (the Charity) on the accounts for the year ended 31 December 2020, which are set out on pages 5 to 10.
Respective Responsibilities of the Trustees and Examiner
The charity's trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act), as amended by s.28 of the Charities Act 2006) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts (under section 43 of the Act, as amended),
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to follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the Act, as amended), and
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to state whether particular matters have come to my attention.
Basis of Independent Examiner's Statement
My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records 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 the 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 accounts.
Independent Examiner's Statement
In the course of my examination, no matter has come to my attention:
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1 . which gives me reasonable cause to believe that, in any material respect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept (in accordance with section 41 of the Act); and
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Gilbert Stark FCCA
16, Tilton Road Borough Green Kent TN15 8RS 19 May, 2020
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Charity Number: 302687
| Borough Green Village Hall | |||
|---|---|---|---|
| Trustees | Report and Financial Statements | ||
| 31 December 2020 | |||
| Statement of Financial Activities | |||
| Year ended 31 December 2020 | |||
| 2020 | 2019 | ||
| £ | £ | ||
| INCOMING RESOURCES | |||
| Investment Income | 2 | 438 | 427 |
| Incoming resources from charitable activities | |||
| Hall Fee Income | 20,318 | 38,633 | |
| Grants Receivable | 11,604 | 235 | |
| TOTAL INCOMING RESOURCES | 32,360 | 39,295 | |
| RESOURCES EXPENDED | |||
| Cost of generating funds | |||
| Booking Secretary's expenses | 60 | 180 | |
| Total costs of generating funds | 3 | 60 | 180 |
| Charitable Activities | |||
| Water, refuse and sewerage | 1,358 | 951 | |
| Insurance | 1,431 | 1,422 | |
| Light and heat | 4,287 | 3,632 | |
| Repairs, renewals and maintenance | 16,657 | 14,762 | |
| Cleaning | 5,431 | 10,698 | |
| Depreciation | 4,039 | 5,049 | |
| Printing, postage and stationery | 35 | ||
| Sundry | 420 | ||
| Rates | 164 | 814 | |
| Total charitable expenditure | 33,367 | 37,783 | |
| TOTAL RESOURCES EXPENDED | 33,427 | 37,963 | |
| NET SURPLUS/(DEFICIT) | 4 | -1,067 | 1,332 |
| Total Funds brought forward | 148,404 | 147,072 | |
| TOTAL FUNDS CARRIED FORWARD | 147,337 | 148,404 |
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Charity number 302687
Borough Green Village Hall Trustees Report and Financial Statements 31 December 2020
| Balance Sheet | ||||||
|---|---|---|---|---|---|---|
| As at 31 December 2020 | ||||||
| 2020 | 2019 | |||||
| £ | £ | £ | £ | |||
| FIXED ASSETS | ||||||
| Tangible Fixed Assets | 5 | 54,941 | 58,980 | |||
| CURRENT ASSETS | ||||||
| Debtors | 6 | 3,437 | ||||
| Investments | 7 | 52,503 | 4 | 52,083 | ||
| Cash at bank and in hand | 40,644 | 34,843 | ||||
| 93,147 | 90,363 | |||||
| CREDITORS: | Amounts falling due in less | |||||
| than one year | 8 | 751 | 939 | |||
| NET CURRENT ASSETS | 92,396 | 89,424 | ||||
| NET ASSETS | 147,337 | 148,404 | ||||
| FUNDS | ||||||
| Unrestricted Funds | ||||||
| General Fund | 9 | 147,337 | 148,404 | |||
| TOTAL FUNDS | 147,337 | 148,404 |
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Charity number 302687
Borough Green Village Hall Trustees' report and financial statements 31 December 2020
Notes
(forming part of the financial statements)
1. Accounting Policies
Basis of Preparation
The financial statements are prepared in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" published in March 2005, and with applicable accounting standards and the Charities Act 1983. The particular accounting p olicies adopted by the Trustees are described below and have been applied consistently throughout the current andpreceding period.
Accounting Convention
The financial statements are prepared under the historical cost convention.
Incoming Resources
All income is recognised in the statement of financial activities when the conditions for receipt have been met and there is reasonable assurance and measurability of receipt.
Donations and Gifts
Donations are recognised in the statement of financial activities when the cash has beenreceived.
Investment Income
Investment income represents monies earned on the Hall deposit account and is accounted for when receivable.
Hall Fee Income
Hall income represents fees charged for the use of the hall by the community. Cash collections to which the Hall is entitled but w hich have not bee received by the year end are included in incoming resources in the statement of financial activities and shown as debtors in the balancesheet.
Grants Receivable
Grants are recognised in the Statement of Financial Activities when the cond itions for receipt ofthe grant have been complied with. Where grant income is received for an asset which is also capitalised, the grant is deferred and released to the Statement of Financial Activities on thesame basis as the asset to which it relatesis charged to the Statement of Financial Activities. Deferred grant income is recognised within creditors.
Charitable Expenditure
Charitable expenditure includes all expenditure directly related to the objects of the Hall andcomprises the following:
Costs relating to running and maintaining the hall
Costs relating to running and maintaining the hall are accounted for when payable.
Charity Number: 302687
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Borough Green Village Hall Trustees' report and financial statements 31 December 2020
Notes (continued)
1. Accounting Policies (continued)
Tangible Fixed Assets
Tangible Fixed Assets are stated in the Balance Sheet at cost plus subsequent costs capitalised, less depreciation. Depreciation on Furniture, Fixtures & Fittings and Freehold Improvements is charged at 20% on a reducing balance basis.
No depreciation is charged on freehold properties. The Hall was valued in February 2003 at £576,000 and it is the opinion of the Trustees that the value of theHall does not need impairing.
Funds
The charity maintains only unrestricted general funds. These are funds that are expendable at the discretion of the Trustees in the furtherance of the objects of the Hall.
2 . Investment Income
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Interest receivable on cash deposits | 438 | 235 |
3. Information Regarding Trustees
During the year, the total expenses reimbursed to the Trustees amounted to £60 (2019 £180) This represents the reimbursement of costs incurred in the furtherance of their duties as Trustees and was paid to 1 (2016:1) Trustee. This is disclosed on the face of the SOFA.
4. Net Incoming Resources
Net incoming resources are stated after charging:
| Net incoming resources are stated after | charging: | |
|---|---|---|
| 2019 | 2018 | |
| £ | £ | |
| Depreciation | 4,039 | 5,049 |
Charity Number: 302687
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Borough Green Village Hall Trustees Report and Financial Statements 31/12/2020
Notes (continued)
| 5 | Tangible Fixed Assets | ||||
|---|---|---|---|---|---|
| Freehold | Freehold | Furniture | Total | ||
| Land and | improvements | Fixtures | |||
| Buildings | & Fittings | ||||
| £ | £ | £ | £ | ||
| Cost: | |||||
| As at 1 January 2020 | 38,784 | 59,595 | 12,223 | 110,602 | |
| Additions | |||||
| As at 31 December 2020 | 38,784 | 59,595 | 12,223 | 110,602 | |
| Accumulated Depreciation | |||||
| As at 1 January 2020 | 40,436 | 11,186 | 51,622 | ||
| Charge for the year | 3,832 | 207 | 4,039 | ||
| As at 31 December 2020 | 44,268 | 11,393 | 55,661 | ||
| Net Book Value | |||||
| As at 31 December 2020 | 38,784 | 15,327 | 830 | 54,941 | |
| As at 31 December 2019 | 38,784 | 19,159 | 1,037 | 58,980 | |
| 6 | Debtors | ||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Hall letting fees | 0 | 3,437 | |||
| 0 | 3,437 |
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Charity number 302687
Borough Green Village Hall Trustees Report and Financial Statements 31 December 2020
Notes (continued)
| 8 | Creditors : Amounts due in less than one year | Creditors : Amounts due in less than one year | |||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| £ | £ | ||||
| Accruals | - | ||||
| Deferred Income | 751 | 939 | |||
| 751 | 939 | ||||
| Deferred Income | |||||
| At | Released in | Deferred in | At | ||
| 01-Jan-20 | Current year | Current year | 31-Dec-20 | ||
| £ | £ | £ | £ | ||
| Deferred Grant Income | 939 | 188 | 0 | 751 | |
| 9 | Movement in Funds | ||||
| At | At | ||||
| 01-Jan-20 | Income | Expenditure | 31-Dec-20 | ||
| £ | £ | £ | £ | ||
| General Fund | 148,404 | 32,360 | 33,427 | 147,337 |
Charity number 302687
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