Treasurer’s Report for AGM on 23" April 2024 on draft accounts as at 31 December 2023
_Firstly, | would like to thank Lyn Julyan who has prepared the draft accounts for the year ended 31 December 2023 and who has also been providing ongoing support and time while | have been getting to grips with being treasurer.
2023 was another successful year for Barrington Village Hall. In 2022 we had surplus income of £15k, which was in a large part thanks to our fundraising events, including the very successful village fete (not held in 2023), local grants received and the net income from the Lyle Room, which had its first full year of operating. Receipts in 2023 were lower (£33k compared with £53k); booking income remained stable and our fundraising events were as successful, but we did not have the benefit of the fete and grant income.
Given our healthy cash balance, 2023 was all about substantial expenditure to both maintain the hall to its high standard and make improvements for the benefit of our users. 2023 therefore saw expenditure of £51k, compared with £37k in 2022 and an overall net expenditure position of £18k.
Of the £51k expenditure, £21k related to maintenance and repairs (only £4k in 2022) which included:
- e Extension of the car park; e Replacing lighting throughout; e Creation of the garden to the rear of the hall.
Other large costs include electricity, oil and water which went up to £12,331, up 51% from 2022 to 2023- which reflects the general increase in utilities we are all seeing. Insurance for the hall also went up 79% to £2,805.
Given the rising costs across the board, during the year the trustees voted to increase the charity’s reserve policy from £20k to £25k. This means we cannot let our funds go below £25k so we will always have it to fall back on as an emergency.
The Lyle Room was a continued success, giving us a net income of £12k (2022: £13k). With the ongoing success of the Lyle Room we are currently looking into the structure of the organisation to ensure that we are not in breach of our charitable objectives. We are seeking professional advice on this matter and will provide more details when finalised.
Despite this year’s deficit, at 31 December 2023 we were still maintaining a healthy bank balance of £32k.
Update as at signing the report in December 2024: Trustees have capitalised expenditure relating to the permanent improvement of the hall of £15k leaving a net income balance in the statement of income and expenditure of £1.2k.
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BARRINGTON VILLAGE HALL AND PLAYING FIELD
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023
| 2023 | 2022 | |
|---|---|---|
| £ | 3 | |
| INCOME | ||
| Donationsandotherreceipts | ||
| South Somerset District Council Grant, 100cluband donations | 120 | 2,667 |
| Operatingactivities to raise funds | ||
| Bookings, heating&equipment hire | 11,888 | 10,196 |
| Electricityfeed-in tariff | 1,208 | 1,116 |
| Fete &otherfund raisingevents | 7,024 | 20,816 |
| Otherreceipts | ||
| Road maintenance fundandotherreceipts | 902 | 5,010 |
| Bank interest | 467 | 37 |
| Lyle Room | 51,671 | 13,026 |
| Total Income | 73,279 | 52,868 |
| EXPENSES | ||
| Fundgeneratingpayments | ||
| Fete&otherfund raisingexpenses | 3/55 | 12,580 |
| Charitable payments | ||
| Equipment | Tit | 2,374 |
| Maintenance | 5,825 | 4,239 |
| Cleaning& materials | 4,021 | 3,262 |
| Oil, electricity&water | 12,332 | 8,168 |
| Insurance | 2,805 | 1,567 |
| Otherpayments | 2,471 | 3,767 |
| Administration& otherpayments | ||
| Lyle Room | 37,817 | - |
| Otheradministrative expenses | 1,880 | 1,534 |
| TotalExpenditure | 72,076 | 37,491 |
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Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees Barrington Village Hall and Playing Field On accounts for the year 31 December 2023 Charity no 304474 ended Set out on pages 2 and 3
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/12/2023.
Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 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.
Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination which give me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did 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 accounts to be reached.
Date: 10/12/2024 Signed: ~~|~~ Name: Lloyd Cross ~~PO~~ Relevant professional ACA qualification: Address: 1 Minorca Grove Milton Keynes MK57FU