## **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
## **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,