**LADY SMITH MEMORIAL INSTITUTE** Registered Charity No: 304629 

## **ANNUAL REPORT & FINANCIAL STATEMENTS** 

# **YEAR ENDING 31 MARCH 2021** 



**LADY SMITH MEMORIAL INSTITUTE** 

## **Trust information** 

Charity number 304629 

## Custodian Trustee 

Somerton Town Council Edgar Community Hall, Bancombe Road Trading Estate. Somerton TA11 6SB 

## Charity Trustees 

Victor Medley (Chair) Jackie Medley Denise Clarke (Secretary) Monica Nicholls Nancy Schooling Sherry Briggs Martyn Smith (Treasurer) Brian Raybould 

## LSMI address 

The Parish Rooms, Market Square Somerton, Somerset TA11 7NB 

## Corresponding Trustee 

Nancy Schooling 32 Highfield Way Somerton, Somerset TA11 6SQ 

## **Contents** 

||**Page**|
|---|---|
|Trustees' report|**3**|
|Proft and loss account|**4**|
|Breakdown of Accounts|**5**|



**2** 



## **LADY SMITH MEMORIAL INSTITUTE** 

## TRUSTEES’ ANNUAL REPORT 

## For the year ended 31 March 2021 

The Lady Smith Memorial Institute was established in 1896 in memory of Frances, Lady Smith, who spent her life helping the poor in Somerton. A building known as the Parish Rooms was opened in 1902. It is used as a village hall for clubs and societies, amateur dramatics, concerts, talks, a small museum, town meetings and a wide range of similar events. In 2014-15 Somerton Town Council agreed to become custodian trustee and the Management Committee became the charity trustees. Our financial position is healthy. 

We were forced to close just before the end of last financial year and although we made plans for re-opening, a further lockdown was announced which deferred the plans. The vast majority of our income is from lettings, so this was a severe impediment. Our lettings income for the year was £415 compared with a normal £15,000. However, we received substantial financial support via South Somerset District Council. 

Our only employee, the caretaker, was “laid off” from the beginning of April 2020 and under the government furlough scheme, we could reclaim 80% of the normal wages (provided that we passed on at least that amount to the employee). We actually paid out just over £5000 in wages, but were able to reclaim £4400. 

Our utilities bills for the year including our water rates have still amounted to £1000 - we have to pay a standing charge for all of these services. It has since come to light that some electricity bills had not been charged, but that will be covered in the accounts for y/e 31 March 2022 

The toilets have been refurbished thanks to generous help from Somerton Community Association. 

The exterior has been repainted, but unfortunately two of the kitchen windows were found to be rotten and beyond repair. New windows were made by Bancombe Joinery and installed by Rob Matthews. Somerton Town Council have generously provided a grant for the cost of manufacture and installation. 

Somerton Town Council have installed a new digital display unit on the east wall and will use our electricity to run it and our broadband to update information. We have agreed a monthly sum of £24 to be paid quarterly towards our costs. 

Finally, our great thanks to Cheryl, our caretaker, who keeps the place in immaculate order. 


Chairman of Trustees 24th November 2021 

**3** 



## **LADY SMITH MEMORIAL INSTITUTE** 

ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 

APPROVAL OF THE ACCOUNTS 

The attached accounts (below) are approved on behalf of the Trustees. 


Chairman of Trustees 

24th November 2021 

------------------------------------------------ - 

## **LADY SMITH MEMORIAL INSTITUTE** 

## ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2020 

|ACCOUNT DETAILS:||
|---|---|
|Balance on 1 April 2020:|£16449|
|Total receipts to 31 March 2021:|£25777|
|Total on 31 March 2021:|£42226|
|Total payments to 31 March 2021:|£ 9074|
|Balance on 1 April 2021|£33152|




Treasurer of the Charity Trustees 

24th November 2021 

**4** 



**LADY SMITH MEMORIAL INSTITUTE** 

ACCOUNTS FOR YEAR ENDING 31 MARCH 2021 

BREAKDOWN OF ACCOUNTS 



Treasurer of the Charity Trustees 

24th November 2021 

**5**