Wacton Village Hall Annual Financial Report
Income
In the previous financial year, there was very little hall hire due to the pandemic. Finances were supported by a number of Government grants. Moving to this financial year, in the Spring of 2021, our Village Hall and its activities, was still subject to some covid restrictions. However, we have been successful in welcoming back existing hirers and welcoming some new ones as well. This has brought in enough earned income to cover essential running costs only. We have also been successful in claiming some further grant funding which has left us in a good financial position going into 2022/23. We received the final settlement for the fraud suffered in 2020 including an element of compensation for HSBC’s poor performance in dealing with our claim.
Expenditure
Major costs were incurred to fix the old heating system. Business rates were reduced by the Government to assist with covid but will revert to normal levels in 2022/23. We have contracted with a regular weekly cleaner and a regular sixweekly window cleaner.
Investment
A new website was commissioned so that we had a better booking system and public presence on the internet. A hive thermostatic control was purchased to enable improved heating control.
Banking
The Village Hall was operating four bank accounts – two current accounts and two deposit accounts. Our bankers, HSBC, started charging on a monthly and transactional basis in November 2021.The accounts with HSBC have been closed. The Village Hall now operates one current account and one deposit account with the National Westminster Bank, currently with no service charges.
Conclusion
This has been a year of recovery. The Village Hall is in a good financial position and can move forward. It is an opportunity to ensure that the fabric of the building and fundamental services within the building are renewed or improved to safeguard the future operating of the Village Hall for the community.
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Actual Income and Expenditure
Income
Hall Hire -£ 5,454.08
Misc Income -£ 21,887.39
£
Total Income -£ 27,341.47
Expenditure
Maintenance £ 2,740.67
Utilities £ 1,335.55
Insurance £ 1,020.00
Cleaning £ 1,113.60
Rates £ 89.62
Misc Expenditure £ 2,277.38
£ -
Total Expenditure £ 8,576.82
Surplus/Deficit -£ 18,764.65
Reserves
Deposit Account 4029
£
Opening Balance 3,067.18
Interest Received to 17.03.22 £ 0.39
Closing Balance 17.03.2022 £ 3,067.57
Deposit Account 4045
£
116.6
Opening balance 3
Interest received to 17.02.2022 £ -
Closing Balance 17.03.2022 £ 116.63
Total Reserves as at 17.03.22 £ 3,184.20
Business Reserve 2513
Opening Balance £ 3,184.20
Interest Received £ 0.01
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Closing Balance £ 3,184.21
| Financial Statement Balances Brought Forward from 2020/21 £ 37,333.58 Plus Income (including interest) 2021/22 £ 27,341.47 Interest Received £ 0.40 Minus Expenditure 2021/22 £ 8,576.82 Balances Carried Forward to 2022/23 £ 56,098.63 As Represented By: A/C 2505 £ 52,914.42 A/C 2513 £ 3,184.21 Total At Bank £ 56,098.63 |
Financial Statement Balances Brought Forward from 2020/21 £ 37,333.58 Plus Income (including interest) 2021/22 £ 27,341.47 Interest Received £ 0.40 Minus Expenditure 2021/22 £ 8,576.82 Balances Carried Forward to 2022/23 £ 56,098.63 As Represented By: A/C 2505 £ 52,914.42 A/C 2513 £ 3,184.21 Total At Bank £ 56,098.63 |
Financial Statement Balances Brought Forward from 2020/21 £ 37,333.58 Plus Income (including interest) 2021/22 £ 27,341.47 Interest Received £ 0.40 Minus Expenditure 2021/22 £ 8,576.82 Balances Carried Forward to 2022/23 £ 56,098.63 As Represented By: A/C 2505 £ 52,914.42 A/C 2513 £ 3,184.21 Total At Bank £ 56,098.63 |
Financial Statement Balances Brought Forward from 2020/21 £ 37,333.58 Plus Income (including interest) 2021/22 £ 27,341.47 Interest Received £ 0.40 Minus Expenditure 2021/22 £ 8,576.82 Balances Carried Forward to 2022/23 £ 56,098.63 As Represented By: A/C 2505 £ 52,914.42 A/C 2513 £ 3,184.21 Total At Bank £ 56,098.63 |
|---|---|---|---|
| Balances Brought Forward from 2020/21 |
£ 37,333.58 | ||
| Plus Income (including interest) 2021/22 |
£ 27,341.47 | ||
| Interest Received | £ 0.40 | ||
| Minus Expenditure 2021/22 | £ 8,576.82 | ||
| Balances Carried Forward to 2022/23 |
£ 56,098.63 | ||
| As Represented By: | |||
| A/C 2505 | £ 52,914.42 | ||
| A/C 2513 | £ 3,184.21 | ||
| Total At Bank | £ 56,098.63 | ||
| Miscellaneous Income |
Restart grant of £8000 received from South Norfolk Council re Covid on 12.04.2021
Compensation of £10916.31 received from HSBC re 2020 fraud loss on 13.04.2021
Omicron Hospitality and Leisure Grant of £2667.00 received from South Norfolk Council 17.02.2022
Maintenance
Bills for major heating and hot water fix totalling £1283.96
Misc Expenditure
Bills totalling for £1095.00 for New Website paid 27.09.21 and 23.12.21 Bill for £677.40 Hive Heating system paid 31.10.2021
Wacton Village Hall Annual Financial Report
Income
In the previous financial year, there was very little hall hire due to the pandemic. Finances were supported by a number of Government grants. Moving to this financial year, in the Spring of 2021, our Village Hall and its activities, was still subject to some covid restrictions. However, we have been successful in welcoming back existing hirers and welcoming some new ones as well. This has brought in enough earned income to cover essential running costs only. We have also been successful in claiming some further grant funding which has left us in a good financial position going into 2022/23. We received the final settlement for the fraud suffered in 2020 including an element of compensation for HSBC’s poor performance in dealing with our claim.
Expenditure
Major costs were incurred to fix the old heating system. Business rates were reduced by the Government to assist with covid but will revert to normal levels in 2022/23. We have contracted with a regular weekly cleaner and a regular sixweekly window cleaner.
Investment
A new website was commissioned so that we had a better booking system and public presence on the internet. A hive thermostatic control was purchased to enable improved heating control.
Banking
The Village Hall was operating four bank accounts – two current accounts and two deposit accounts. Our bankers, HSBC, started charging on a monthly and transactional basis in November 2021.The accounts with HSBC have been closed. The Village Hall now operates one current account and one deposit account with the National Westminster Bank, currently with no service charges.
Conclusion
This has been a year of recovery. The Village Hall is in a good financial position and can move forward. It is an opportunity to ensure that the fabric of the building and fundamental services within the building are renewed or improved to safeguard the future operating of the Village Hall for the community.
----- Start of picture text -----
Actual Income and Expenditure
Income
Hall Hire -£ 5,454.08
Misc Income -£ 21,887.39
£
Total Income -£ 27,341.47
Expenditure
Maintenance £ 2,740.67
Utilities £ 1,335.55
Insurance £ 1,020.00
Cleaning £ 1,113.60
Rates £ 89.62
Misc Expenditure £ 2,277.38
£ -
Total Expenditure £ 8,576.82
Surplus/Deficit -£ 18,764.65
Reserves
Deposit Account 4029
£
Opening Balance 3,067.18
Interest Received to 17.03.22 £ 0.39
Closing Balance 17.03.2022 £ 3,067.57
Deposit Account 4045
£
116.6
Opening balance 3
Interest received to 17.02.2022 £ -
Closing Balance 17.03.2022 £ 116.63
Total Reserves as at 17.03.22 £ 3,184.20
Business Reserve 2513
Opening Balance £ 3,184.20
Interest Received £ 0.01
----- End of picture text -----
Closing Balance £ 3,184.21
| Financial Statement Balances Brought Forward from 2020/21 £ 37,333.58 Plus Income (including interest) 2021/22 £ 27,341.47 Interest Received £ 0.40 Minus Expenditure 2021/22 £ 8,576.82 Balances Carried Forward to 2022/23 £ 56,098.63 As Represented By: A/C 2505 £ 52,914.42 A/C 2513 £ 3,184.21 Total At Bank £ 56,098.63 |
Financial Statement Balances Brought Forward from 2020/21 £ 37,333.58 Plus Income (including interest) 2021/22 £ 27,341.47 Interest Received £ 0.40 Minus Expenditure 2021/22 £ 8,576.82 Balances Carried Forward to 2022/23 £ 56,098.63 As Represented By: A/C 2505 £ 52,914.42 A/C 2513 £ 3,184.21 Total At Bank £ 56,098.63 |
Financial Statement Balances Brought Forward from 2020/21 £ 37,333.58 Plus Income (including interest) 2021/22 £ 27,341.47 Interest Received £ 0.40 Minus Expenditure 2021/22 £ 8,576.82 Balances Carried Forward to 2022/23 £ 56,098.63 As Represented By: A/C 2505 £ 52,914.42 A/C 2513 £ 3,184.21 Total At Bank £ 56,098.63 |
Financial Statement Balances Brought Forward from 2020/21 £ 37,333.58 Plus Income (including interest) 2021/22 £ 27,341.47 Interest Received £ 0.40 Minus Expenditure 2021/22 £ 8,576.82 Balances Carried Forward to 2022/23 £ 56,098.63 As Represented By: A/C 2505 £ 52,914.42 A/C 2513 £ 3,184.21 Total At Bank £ 56,098.63 |
|---|---|---|---|
| Balances Brought Forward from 2020/21 |
£ 37,333.58 | ||
| Plus Income (including interest) 2021/22 |
£ 27,341.47 | ||
| Interest Received | £ 0.40 | ||
| Minus Expenditure 2021/22 | £ 8,576.82 | ||
| Balances Carried Forward to 2022/23 |
£ 56,098.63 | ||
| As Represented By: | |||
| A/C 2505 | £ 52,914.42 | ||
| A/C 2513 | £ 3,184.21 | ||
| Total At Bank | £ 56,098.63 | ||
| Miscellaneous Income |
Restart grant of £8000 received from South Norfolk Council re Covid on 12.04.2021
Compensation of £10916.31 received from HSBC re 2020 fraud loss on 13.04.2021
Omicron Hospitality and Leisure Grant of £2667.00 received from South Norfolk Council 17.02.2022
Maintenance
Bills for major heating and hot water fix totalling £1283.96
Misc Expenditure
Bills totalling for £1095.00 for New Website paid 27.09.21 and 23.12.21 Bill for £677.40 Hive Heating system paid 31.10.2021
?tsL I FELLOW May 16, 2022 Mrs P. Agent Treasurer- Wacton Village Hall Yeoman Cottage Churd) Road Wacton. NOr1¢h NR15 2UG Dear Trustees, Independent Examlnallon Report lo Wackn VEllage Hall for the year endod 1 April 2022 Proper 8ookkeeping I have inspeded the Trusys rerdS to 1 Awil 2022.1 have examined yr cashbook and found it to ba 811 maintained and up to date, <rt and balan(. I have also eXarninl your theque bcoks, paying4n bks. bank statements frcth both HSBC 8ank plc Nat West Bank PIC and compared these to yt)ur Receipts and Paym8nts accounL I note Ihat HSBC ac0nts are niy4V dosed and the balanS transferred to Nat West. Iorne Controls l Th)te that all income is rwded arKI banked wopety. yearnd Procedures I can confirm that the year end accounts are prepar1 on a Rec*ipts arKI Payments basis and that the aDUnts agree with the c2shboKI( an appropriate and adequate audit trail. Matters for the Trustse's Attention I have no matters to bring to ur attentK)n.
• PaJe2 May 16. 2022 I would like to thank sffjur Treasu for her help and (tr(¥walK)n in preparing for the Indendent Examinatic. Please see my attathed R8FM)rt Yours sinc8rdy, Mrs AE. Bames FSLCC
• Pa3e3 May 16. 2022 Wacton Willage Hall Independent Examinerfs Report on the Receipts and Payments Accounts To the Committeetrrustees of Wacton Willage Hall I r8pJrt on the Rec£ipts and Payments Ac£ounts set (xrt on the attath8d Finanaal Statement for the above named wa Village Hall for th8 year erHd8d 1 ri12022. Basls of Indopendont Examinefs Report My examination was c2fTi8d (xrt in aCajxdan the General Directions given by tha Charity ComrnlssicerS. An examination indudes a review of the ac(Unting records kept by Ihe tharity and a (X)mparison of the ac£ounts presented with those r8o)rds. It also indudes 0sIderatIon of Y unuwal items or disdosures in the actnts and seeking explanations frL¥n you as trust8as ¢))nMIng suth matters. The procedures undertaken th) not provide all the eden that t)k1 b8 required in an audit, and consequenty no onIOn is given as to vthether the accounts present a 'tru8 and fair view and ts repcxt is limited to those matt8rs sèt t wi th8 next stst8mant. Independent Examlnerfs Statement In conneclK)n with my examination no rnatter has cx)rr£ to my attention which gives m8 reasonabba cause to believe that in any material resped the r8quirem8nts to keep acc(ntIng rerS aTrJ pr8par8 acL>Junts to (mplY with Section 130 of the Charities Act 2011 and to prepare ac)unts which ac£x)rd with the accounting records and comply with the actsnting requirements of the Chaiilies Act trVe Tr)t been met. Signed: IndeperKlent Examin Name: Mrs Anne E. Bam8S Addr8ss:79 Caistrx Lan8. Ca1str St EdmurKI. Norwich. NR14 8RB Date: 16 May 2022