REGISTERED CHARITY NUMBER: 305185
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2024
for
Broad Oak Village Hall
NCR Accountancy Services 61 Oaklands Westham Pevensey East Sussex BN24 5AW
Broad Oak Village Hall
Contents of the Financial Statements for the Year Ended 31 March 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 10 |
| Detailed Statement of Financial Activities | 11 to 12 |
Broad Oak Village Hall
for the Year Ended 31 March 2024
Report of the Trustees
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Objective of the Charity is to provide a Village hall for the community
Significant activities
The Charity provides a building, facilities and open space for all sectors of the community
FINANCIAL REVIEW
Reserves policy
To invest ethically and wisely in a safe environment until required to help fund the costs of operating the Charity
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust dated 7th January 1953 and constitutes an unincorporated charity
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
305185
Principal address
High Street Broad Oak Heathfield East Sussex TN21 8SS
Trustees
B Hart Mrs J Ward Mrs K Hunt Mrs S Marchant (resigned 31.5.23) N Pyle M Marchant (resigned 31.5.23)
Page 1
Broad Oak Village Hall
Report of the Trustees
for the Year Ended 31 March 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner Nicholas Rayment NCR Accountancy Services 61 Oaklands Westham Pevensey East Sussex BN24 5AW Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................... Mrs K Hunt - Trustee
Page 2
Independent Examiner's Report to the Trustees of Broad Oak Village Hall
Independent examiner's report to the trustees of Broad Oak Village Hall
I report to the charity trustees on my examination of the accounts of Broad Oak Village Hall (the Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the 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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do 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.
Nicholas Rayment
NCR Accountancy Services 61 Oaklands Westham Pevensey East Sussex BN24 5AW
Date: .............................................
Page 3
Broad Oak Village Hall
Statement of Financial Activities for the Year Ended 31 March 2024
| 31.3.24 | 31.3.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 28,345 | 18,328 | |
| Other trading activities | 2 | 1,255 | - |
| Investment income | 3 | 3,460 | 3,104 |
| Total | 33,060 | 21,432 | |
| EXPENDITURE ON | |||
| Raising funds | 24,675 | 29,662 | |
| Charitable activities | |||
| Support Costs Management | 6,191 | 6,112 | |
| Governance costs | 171 | 2,028 | |
| Total | 31,037 | 37,802 | |
| NET INCOME/(EXPENDITURE) | 2,023 | (16,370) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 57,332 | 73,702 | |
| TOTAL FUNDS CARRIED FORWARD | 59,355 | 57,332 |
The notes form part of these financial statements
Page 4
Broad Oak Village Hall
Balance Sheet 31 March 2024
| 31.3.24 Unrestricted fund Notes £ CURRENT ASSETS Debtors 6 4,930 Investments 7 36,630 Cash at bank 18,779 60,339 CREDITORS Amounts falling due within one year 8 (984) NET CURRENT ASSETS 59,355 TOTAL ASSETS LESS CURRENT LIABILITIES 59,355 NET ASSETS 59,355 FUNDS 9 Unrestricted funds 59,355 TOTAL FUNDS 59,355 |
31.3.23 Total funds £ 3,294 36,630 18,075 57,999 (667) 57,332 57,332 57,332 57,332 57,332 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. K Hunt - Trustee
The notes form part of these financial statements
Page 5
Broad Oak Village Hall
Notes to the Financial Statements for the Year Ended 31 March 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 6
continued...
Broad Oak Village Hall
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 31.3.24 | 31.3.23 | ||
| £ | £ | ||
| Fundraising events | 1,255 | - | |
| 3. | INVESTMENT INCOME | ||
| 31.3.24 | 31.3.23 | ||
| £ | £ | ||
| Deposit account interest | 3,460 | 3,104 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 18,328 |
| Investment income | 3,104 |
| Total | 21,432 |
| EXPENDITURE ON | |
| Raising funds | 29,662 |
| Charitable activities | |
| Support Costs Management | 6,112 |
| Governance costs | 2,028 |
| Total | 37,802 |
| NET INCOME/(EXPENDITURE) | (16,370) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 73,702 |
Page 7
continued...
Broad Oak Village Hall
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|---|---|---|---|---|
| Unrestricted | ||||
| fund | ||||
| £ | ||||
| TOTAL FUNDS CARRIED | ||||
| FORWARD | 57,332 | |||
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.3.24 | 31.3.23 | |||
| £ | £ | |||
| Trade debtors | 2,791 | 1,675 | ||
| Prepayments | 2,139 | 1,619 | ||
| 4,930 | 3,294 | |||
| 7. | CURRENT ASSET INVESTMENTS | |||
| 31.3.24 | 31.3.23 | |||
| £ | £ | |||
| Unlisted investments | 36,630 | 36,630 | ||
| Current value of investment is £100186.35 as at 31/03/2024 (£91223.75 2023) | ||||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.3.24 | 31.3.23 | |||
| £ | £ | |||
| Trade creditors | 984 | 667 | ||
| 9. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.4.23 | in funds | 31.3.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 57,332 | 2,023 | 59,355 | |
| TOTAL FUNDS | 57,332 | 2,023 | 59,355 |
Page 8
continued...
Broad Oak Village Hall
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 33,060 | (31,037) | 2,023 |
| TOTAL FUNDS | 33,060 | (31,037) | 2,023 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1.4.22 | in funds | 31.3.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 73,702 | (16,370) | 57,332 |
| TOTAL FUNDS | 73,702 | (16,370) | 57,332 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement |
|---|---|---|
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 21,432 |
(37,802) | (16,370) |
| TOTAL FUNDS 21,432 |
(37,802) | (16,370) |
| A current year 12 months and prior year 12 months combined position is as follows: | ||
| Net | ||
| movement | At | |
| At 1.4.22 | in funds | 31.3.24 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 73,702 |
(14,347) | 59,355 |
| TOTAL FUNDS 73,702 |
(14,347) | 59,355 |
Page 9
continued...
Broad Oak Village Hall
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 54,492 | (68,839) | (14,347) |
| TOTAL FUNDS | 54,492 | (68,839) | (14,347) |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
Page 10
Broad Oak Village Hall
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 March 2024 | ||
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Hall Lettings | 27,677 | 17,828 |
| Grants | 668 | 500 |
| 28,345 | 18,328 | |
| Other trading activities | ||
| Fundraising events | 1,255 | - |
| Investment income | ||
| Deposit account interest | 3,460 | 3,104 |
| Total incoming resources | 33,060 | 21,432 |
| EXPENDITURE | ||
| Support costs | ||
| Management | ||
| Caretaker & Cleaner | 4,632 | 4,434 |
| Booking Secretary | 1,200 | 1,200 |
| Public Performance Expenses | 370 | 478 |
| 6,202 | 6,112 | |
| Other | ||
| Repairs to Property | 8,983 | 17,012 |
| Collection of Commercial Waste | 2,276 | 2,131 |
| Fire Inspection | 640 | 281 |
| 11,899 | 19,424 | |
| Other 2 | ||
| Rates and water | 1,569 | 1,401 |
| Insurance | 1,873 | 2,512 |
| Light and heat | 2,707 | 2,346 |
| Postage and stationery | 45 | - |
| Cleaning | 2,000 | 1,814 |
| Upkeep of Grounds | 4,452 | 2,165 |
| Fund Raising costs | 119 | - |
| 12,765 | 10,238 |
This page does not form part of the statutory financial statements
Page 11
Broad Oak Village Hall
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 March 2024 | ||
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| Other 2 | ||
| Governance costs | ||
| Sundries | 171 | 11 |
| Accountancy and legal fees | - | 2,017 |
| 171 | 2,028 | |
| Total resources expended | 31,037 | 37,802 |
| Net income/(expenditure) | 2,023 | (16,370) |
This page does not form part of the statutory financial statements
Page 12