REGISTERED CHARITY NUMBER: 308278
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FOR
FINGRINGHOE VILLAGE HALL MANAGEMENT COMMITTEE
RE Group Accountants Limited Chartered Certified Accountants The Maltings Rosemary Lane Halstead Essex CO9 1HZ
FINGRINGHOE VILLAGE HALL MANAGEMENT COMMITTEE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 10 |
| Detailed Statement of Financial Activities | 11 |
FINGRINGHOE VILLAGE HALL MANAGEMENT COMMITTEE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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
Policies and objectives
The Village Hall continues to be managed in a manner that will sustain its long-term availability to the advantage of the Fingringhoe village community.
We aim to involve the community especially via the pre shool and the club to ensure it remains a central hub for the village.
ACHIEVEMENT AND PERFORMANCE
Review of activities
New acoustic panels have been installed which has improved the ambience. A grant was obtained to finance the installation.
FINANCIAL REVIEW
Reserves policy
The reserves policy of the Management Committee is to hold sums sufficient to cover contingencies. There is sufficient funds to continue and run the hall for the foreseeable future although some costs are expected in maintenance over the coming years.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Charity constitution
The charity is constituted under a Trust Deed dated 29 December 1971 and is a registered charity number 308278.
Recruitment and appointment of new trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust Deed.
Organisational structure and decision making
The charity is managed by a Management Committee (Trustees) comprising a Chairman, Secretary, Treasurer, booking secretary and two independent members, all of whom are subject to election. In addition, each of the principal user groups nominates a representative for the Management Committee which ensures that an opportunity is provided for all users to have a say in what is needed.
Current Officers are:
-
Chairman: Clive Bellinger until 20th March 2023, then Julie Chandler
-
Treasurer: Malcolm Kimmance
-
Secretary: Julie Chandler
-
Booking secretary: Becky Scott
Relationships
The Fingringhoe Club, rents part of the Village Hall building on a permanent basis. Rental income form the Club supports the overall financial stability of the Hall.
The National Lottery Charities Board has an 80 year Legal Charge on the property. This was approved in 2004. Relevant documentation is in safe keeping with Marshall Sutton Jones of 9 Trinity Street, Colchester CO1 1JN.
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FINGRINGHOE VILLAGE HALL MANAGEMENT COMMITTEE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
There is some uncertainty as to how long the older sections of roofing will last. Replacement would involve significant cost.
Other areas of the building are being inspected periodically to ensure they are maintained to a good standard. Work is currently required on the back window frames and some soffits. Also some trees require some ivy to be removed in order to keep them healthy.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
308278
Principal address
Chapel Road Fingringhoe Colchester Essex CO5 7BH
Trustees
M Kimmance Treasurer C Bellinger Chairman (resigned 20/3/2023) Mrs J Chandler Secretary / Chair since 20/03/23 Mrs B Scott Booking Secretary
Bankers
Barclays Bank COIF Charities Deposit Fund
Approved by order of the board of trustees on 31 August 2023 and signed on its behalf by:
Mrs J Chandler - Trustee
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FINGRINGHOE VILLAGE HALL MANAGEMENT COMMITTEE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 2023 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 9,404 Charitable activities Hall hire 15,026 Investment income 2 2,854 Total 27,284 EXPENDITURE ON Charitable activities Hall hire 24,522 Other 1,124 Total 25,646 Net gains/(losses) on investments (2,993) NET INCOME/(EXPENDITURE) (1,355) RECONCILIATION OF FUNDS Total funds brought forward 143,451 TOTAL FUNDS CARRIED FORWARD 142,096 |
2022 Total funds £ - 12,688 2,185 14,873 11,675 795 12,470 6,283 8,686 134,765 143,451 |
|---|---|
The notes form part of these financial statements
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FINGRINGHOE VILLAGE HALL MANAGEMENT COMMITTEE
BALANCE SHEET 31 MARCH 2023
| 2023 Unrestricted funds Notes £ FIXED ASSETS Tangible assets 5 23,112 Investments 6 76,095 99,207 CURRENT ASSETS Stocks 7 1,365 Debtors 8 3,192 Cash at bank 39,425 43,982 CREDITORS Amounts falling due within one year 9 (1,093) NET CURRENT ASSETS 42,889 TOTAL ASSETS LESS CURRENT LIABILITIES 142,096 NET ASSETS 142,096 FUNDS 10 Unrestricted funds 142,096 TOTAL FUNDS 142,096 |
2022 Total funds £ 23,112 79,088 102,200 10 2,434 39,438 41,882 (631) 41,251 143,451 143,451 143,451 143,451 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 31 August 2023 and were signed on its behalf by:
J Chandler - Trustee
The notes form part of these financial statements
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FINGRINGHOE VILLAGE HALL MANAGEMENT COMMITTEE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided Fixtures and fittings - Straight line over 1 year
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Investment income and gains and losses are allocated to the appropriate fund.
continued...
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FINGRINGHOE VILLAGE HALL MANAGEMENT COMMITTEE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Deposit account interest | 2,854 | 2,185 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricted funds £ |
|---|---|
| Charitable activities | |
| Hall hire | 12,688 |
| Investment income | 2,185 |
| Total | 14,873 |
| EXPENDITURE ON | |
| Charitable activities | |
| Hall hire | 11,675 |
| Other | 795 |
| Total | 12,470 |
| Net gains on investments | 6,283 |
| NET INCOME | 8,686 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 134,765 |
| TOTAL FUNDS CARRIED FORWARD | 143,451 |
continued...
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FINGRINGHOE VILLAGE HALL MANAGEMENT COMMITTEE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
5. TANGIBLE FIXED ASSETS
| Freehold property £ COST At 1 April 2022 and 31 March 2023 23,111 NET BOOK VALUE At 31 March 2023 23,111 At 31 March 2022 23,111 |
Fixtures and fittings £ 1 1 1 |
Totals £ 23,112 23,112 23,112 |
|---|---|---|
The Land Registry shows that the owner of the village hall is "The Official Custodian for Charities on behalf of Fingringhoe Village Hall. The Official Custodian for Charities is a statutory body that holds property on behalf of charities.
6. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| MARKET VALUE | Unlisted investments £ |
| At 1 April 2022 | 79,088 |
| Revaluations | (2,993) |
| At 31 March 2023 | 76,095 |
| NET BOOK VALUE | |
| At 31 March 2023 | 76,095 |
| At 31 March 2022 | 79,088 |
There were no investment assets outside the UK.
The Charities Income Fund is represented by 4061.31 units at a cost of £38,000. The market value, at the last available valuation obtained on 31 March, was 1,873.66 pence per unit that is £76,095.14 for the holding. The unrealised loss for the year of £2,993 had been debited to the general fund.
To comply with Charities accounting and reporting regulations the unrealised gain/(loss) and revaluation of this investment are disclosed in the Statement of Financial Activities.
continued...
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FINGRINGHOE VILLAGE HALL MANAGEMENT COMMITTEE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
6. FIXED ASSET INVESTMENTS - continued
Cost or valuation at 31 March 2023 is represented by:
| Valuation in 2019 Valuation in 2020 Valuation in 2021 Valuation in 2022 Valuation in 2023 Cost 7. STOCKS Stocks 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 10. MOVEMENT IN FUNDS At 1/4/22 £ Unrestricted funds General fund 50,554 Designated Maintenance Fund 71,256 Capital Fund 21,641 143,451 TOTAL FUNDS 143,451 |
Net movement in funds £ (1,355) - - (1,355) (1,355) |
Unlisted investments £ 24,309 (1,973) 12,469 6,283 (2,993) 38,000 76,095 2023 2022 £ £ 1,365 10 2023 2022 £ £ 3,103 2,384 89 50 3,192 2,434 2023 2022 £ £ 1,093 631 Transfers between At funds 31/3/23 £ £ (2,854) 46,345 2,854 74,110 - 21,641 - 142,096 - 142,096 |
|---|---|---|
continued...
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FINGRINGHOE VILLAGE HALL MANAGEMENT COMMITTEE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 27,284 (25,646) TOTAL FUNDS 27,284 (25,646) Comparatives for movement in funds Net movement At 1/4/21 in funds £ £ Unrestricted funds General fund 44,052 8,686 Designated Maintenance Fund 69,072 - Capital Fund 21,641 - 134,765 8,686 TOTAL FUNDS 134,765 8,686 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 14,873 (12,470) TOTAL FUNDS 14,873 (12,470) |
Gains and Movement losses in funds £ £ (2,993) (1,355) (2,993) (1,355) Transfers between At funds 31/3/22 £ £ (2,184) 50,554 2,184 71,256 - 21,641 - 143,451 - 143,451 Gains and Movement losses in funds £ £ 6,283 8,686 6,283 8,686 |
|---|---|
continued...
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FINGRINGHOE VILLAGE HALL MANAGEMENT COMMITTEE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Designated Maintenance Fund Capital Fund TOTAL FUNDS |
At 1/4/21 £ 44,052 69,072 21,641 134,765 134,765 |
Net movement in funds £ 7,331 - - 7,331 7,331 |
Transfers between funds £ (5,038) 5,038 - - - |
At 31/3/23 £ 46,345 74,110 21,641 142,096 142,096 |
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources Gains and Movement resources expended losses in funds £ £ £ £ |
|---|---|
| General fund | 42,157 (38,116) 3,290 7,331 |
| TOTAL FUNDS | 42,157 (38,116) 3,290 7,331 |
The Capital Fund wholly represents the original cost of the Freehold Village Hall, The Designated Maintenance Fund is represented by current assets.
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
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FINGRINGHOE VILLAGE HALL MANAGEMENT COMMITTEE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Grants | 9,404 | - |
| Investment income | ||
| Deposit account interest | 2,854 | 2,185 |
| Charitable activities | ||
| Hire of Hall | 11,034 | 9,901 |
| Rent - Fingringhoe Club | 2,924 | 2,118 |
| Fingringhoe Club reimbursement of property | ||
| costs | 998 | 419 |
| Donation | 70 | 250 |
| 15,026 | 12,688 | |
| Total incoming resources | 27,284 | 14,873 |
| EXPENDITURE | ||
| Charitable activities | ||
| Rates and water | 2,168 | 748 |
| Insurance | 1,216 | 1,168 |
| Light and heat | 3,895 | 3,326 |
| Repairs & maintenance | 12,833 | 2,901 |
| Caretaker | 3,600 | 3,300 |
| Waste - refuse collection | 116 | 236 |
| Fingringhoe Club debt (recover ed) / written off) | 694 | (4) |
| Support costs | 24,522 | 11,675 |
| Governance costs | ||
| Sundries | 1,044 | 787 |
| Licences | 80 | 8 |
| 1,124 | 795 | |
| Total resources expended | 25,646 | 12,470 |
| Net income | 1,638 | 2,403 |
This page does not form part of the statutory financial statements
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