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2022-08-31-accounts

The Cotton Hall Foundation

Annual Report for the year ending 31st August 2022

Registered charity 311356 Table of Contents

Administrative Information 3
List of Trustees 3
Trustee meetings held during the year 3
Other key people 3
Committee Structure 4
Financial arrangements 4
Objectives and Activities 4
Chair’s Report 5
Ambitions for the 2022-23 Financial Year 6
Subcommittee Reports 6
Fabric and Maintenance Committee (FMC) 6
Health, Safety and Compliance Committee 6
Finance Committee 7
Financial Report 7
Income and Expenditure 8
Balance Sheet 9
Reserves 10
Appendix 1: Sub-committee Terms of Reference 11
Fabric and Maintenance Committee – Terms of Reference 11
Health, Safety and Compliance Committee – Terms of Reference 12
Finance Committee – Terms of Reference 13
Appendix 2: Independent Examiner’s Report 14

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Administrative Information

The Cotton Hall Foundation was established by a Charity Commission Scheme dated 15th December 2000. We are charity number 311356 and the Foundation is administered by a group of trustees. The scheme (as amended in 2012) makes provision for 9 Trustees:

List of Trustees

In the year 1st Sept 2021 to 31st August 2022 the following people served as Trustees of the Foundation:

Trustee meetings held during the year

During the 2021-22 financial year the Trustees met on the following occasions:

Other key people

In addition to the Trustees the Foundation notes with thanks the efforts of Wendy Ripley (Bookings Clerk) and Karen Cronin (Secretary).

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Committee Structure

In March 2022 the Trustees agreed to delegate some power to a range of subcommittees:

Reports from these subcommittees are available later in this report.

Financial arrangements

The Foundation holds two bank accounts, both with CAF Bank: a general “current account” and a Gold savings account.

We also hold two investment portfolios with M&G Investments.

Objectives and Activities

The charitable objectives outlined in our governing document are:

Within these objectives our “area of benefit” is the parish of Girton, Cambrideshire.

Before the end of 2021 our objectives had primarily been furthered by providing a suitable space for Cottontails Preschool to operate at an affordable cost. During this financial year the Preschool moved into alternative accommodation on the site of Girton Glebe Primary School. This has led us to review our fee structure to encourage use from groups relating to children and education. Groups and users booking the Cotton Hall for work relating to our charitable objectives enjoy a discount of between 30-40% compared to a typical group that does not further our objectives. In addition, groups that are largely “voluntary” in nature enjoy a further discount.

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We are now pleased to regularly welcome a parent & toddler group, a Finnish-language Saturday School, Girton Brownies, a youth group, a drama class and frequent NCT classes. The Church Sunday School also began to use the hall again recently.

As a result of healthy regular bookings from groups that are not part of our charitable objectives we can provide discounts to groups related to children.

Furthermore, we are pleased to host Lexi’s Cafe on a Friday. This enterprise from a local young person is supported by the Cotton Hall by providing space at a competitive price.

Michael Bigg (Chair)

Chair’s Report

2021-22 has been a year of transition for the Cotton Hall. I am grateful for the contribution of Bruce Hunter as the previous Chair for many years, particularly in steering the Foundation through the COVID-19 pandemic.

The loss of the significant booking from the Cottontails Preschool has taken up much of our attention as Trustees in this financial year. We are pleased that in the vacancy, Lexi’s Cafe has so quickly provided a regular income on Fridays (and become a much-loved part of village life). It has also been valuable to open up the Hall to a greater range of groups during the school day.

The development of our subcommittee system has enabled us to be a bit more focussed in what we are doing in different areas of our work. By delegating authority in this way, full Trustee meetings can be more engaged in the overall picture of what is going on.

Another area of development this year has been to review our pricing strategy. With a greater range of users in the Hall we now make more of a distinction between groups that support our charitable objectives and those that don’t. Groups falling with our “target audience” enjoy a more obvious charitable benefit. Furthermore, we make a distinction between groups that are primarily run by volunteers on a not-for-profit basis and those run by organisations making a profit from the endeavour. Therefore groups like (eg.) Brownies and Bobtails get a better price than (eg.) a children’s drama group run for profit.

I would like to express huge gratitude to Alice Few who, at the end of the year, stepped down as Treasurer after very many years of service. Her faithful work and stewardship leaves the Cotton Hall Foundation in a strong financial position, which has been a great benefit in this time of transition and change. Thanks also go to Laura and Spencer Norman for their years of service as Trustees - we wish them both well in their new venture.

Thanks also to Wendy Ripley for the time and effort she has put into both looking after our bookings, and her general oversight of the fabric of the building. Her hard work and attention to detail are greatly appreciated. The Trustees also acknowledge the time and effort of Ian Jones in maintaining the fabric of the building. His skill and care are a great asset.

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Ambitions for the 2022-23 Financial Year

Priorities for 2022-23 include:

Michael Bigg (Chair)

Subcommittee Reports

Note: The Terms of Reference for each subcommittee are found in Appendix 1

Fabric and Maintenance Committee (FMC)

The primary focus of the FMC this year has been to assess the condition of the building and therefore to make recommendations on capital improvements.

This has led to recommendations to replace the floor tiles in the main hall and the entrance corridor, and also to replace the vinyl flooring in the main hall. We anticipate that this work will be completed before Christmas 2022.

We have also recommended that the main door to the hall is replaced with a wheel-chair friendly automatic door in order to improve accessibility. We also anticipate that this work will be completed before Christmas 2022.

In the year ahead the FMC will look at other potential capital improvements and make recommendations as appropriate.

Michael Bigg

Health, Safety and Compliance Committee (HSC)

The HSC committee has been focused this year on collating and consolidating our documentation, to ensure that this is available to those that need to access it.

Along with performing a review of the policies and procedures we currently have, areas for future improvement have been identified and will form the activity for the upcoming year. We are also onboarding new Trustees onto the HSC committee, as well as producing a succession plan for our Data Protection Officer whose term comes to an end this year.

Josie Harries

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Finance Committee

The main focus of the Finance Committee this year has been to develop our compliance. We are in the process of reviewing policies and procedures as we prepare for Karen Cronin to take over as Treasurer.

This change of Treasurer is expected to include the move to a new financial management package (Xero) to help us streamline our financial processes, in line with the recommendation of the Foundation’s independent examiner.

Michael Bigg

Financial Report

The income and expenditure report for the year to 31st August 2022 is set out below. As outlined in the Chair’s report the Hall was mainly hired by Cottontails pre-school until December 2021 but, after many years as principal hirers of the Hall Cottontails accepted an offer to occupy rooms at the local primary school Girton Glebe. The Cotton Hall Foundation would like to thank Cottontails pre-school for their years as a loyal hirer and wish them every success in their new location.

Since Cottontails pre-school moved premises, the Foundation has actively recruited new hirers and is now hired regularly by a number of groups including a local play group, Girton Brownies, a number of fitness groups and a youth group. The Hall has also become a popular venue in the village for children’s parties and family functions.

In addition Lexi’s Cakes have hired the hall on a Friday since January for the provision of a pop up café; this has proved a great addition to the village and is enjoyed by many residents and families locally.

As can be seen from the accounts below the Cotton Hall was also in receipt of a 2nd Covid grant in January 2022. With 3 months of Cottontails income, the Covid grant and hiring the hall out regularly to a number of different customers as stated above, it has been a relatively healthy year income wise, totalling £28.3k. This amount also includes £3k of dividend income from the investments held by the Cotton Hall Foundation.

The Trustees remain committed to providing a high standard provision for the village whilst being mindful of costs. In the year to 31 st August 2022 total expenditure was £19k, compared to £15k the prior year. Some extra costs on general repairs and renovations were spent in making the Hall ready for a different type of usage once the Cottontails left in December 2021. The Buildings and Maintenance committee continue to monitor the state of the building and recommend updates and repair to the finance committee and Trustees as appropriate.

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Income and Expenditure

----- Start of picture text -----
Cotton Hall Foundation
For the period from 1st September 2021 - 31st August 2022
Unrestricted funds
Income Year ended 31st Auguest 2022
Rental 21,406
Interest/Dividend 3,304
Grants 2,667
Sub total 27,377
Total Income 27,377
Expenditure
Insurance 1,570
Utilities 3,104
BT 549
Renewals/repairs 3,937
Advertising 19
Building Maintenance 1,774
Honoraria 3,990
Cleaning 1,011
Professional Fees 641
Licences 264
System Maintenance 626
Office Supplies 420
Hygiene supplies 344
Capital Work
Sundries (incl Health & Safety) 482
Security 162
Rates -1,028
Bank charges 95
Total expenditure 17,957
Surplus/Deficit 9,420
Section B Statement of assets and liabilities at the end of the period
----- End of picture text -----

Thus the Trustees are pleased to report a small surplus for the year of £9.4k. This can continue to contribute to the objectives of the Foundation as outlined in the Chair’s report.

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Balance Sheet

The Trustees are pleased to report a healthy cash balance of £32k, with an additional £68.3k held in investments. Total reserves are £100k

Balance Sheet
Fixed Assets
Tangible Assets
Investments held 68,285
Total Tangible Assets 68,285
Current Assets
Cash at bank and in hand
CAF Cash Account No 1 2,534
CAF Cash Account No 2 29,020
Total cash at bank and in hand 31,554
Accounts Receivable 420
Total Current Assets 31,974
Creditors: amounts falling due within 1year
Accountspayable 110
Deposits held 100
Total creditors: amounts falling due w i
210
Net Current Assets/(Liabilities) 31,764
Total Assets less Current Liabilities 100,049
Net Assets 100,049
Capital and Reserves
Retained Earnings 100,049
Total Capital and Reserves 100,049

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Reserves

The Trustees acknowledge that with Cottontails leaving as the main hirers of the Cotton Hall during the financial year, it is not easy to forecast typical annual income in the short term. It is of course hoped that, as other users begin to enjoy the hall, the occupancy and regular users will increase over the coming months. In addition, the Trustees wish to maintain the Hall to a high standard ensuring that the Hall is an asset to the village and continues to provide a provision to young people and children as described in its charitable objectives. With this in mind the Trustees have reviewed the reserves policy and feel that 1 – 2 years running costs (around £40k) should be held in general reserves; this is needed to meet general running costs of the hall, particularly at the current time when income is uncertain due to the main hirer leaving.

Given that the hall is an old building that continues to need repair and updates; it also may be prudent to update the facilities to continue to attract users of the Hall. In the coming 2 or 3 years for example the Trustees anticipate updating the flooring, restoring the outside area and automating the doors. The buildings and maintenance committee are currently looking at an expenditure plan for the next 5 years and as such the Trustees have designated £59K of reserves to a Renovation Fund to be spent over the coming 5-10 years as the plans develop.

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Appendix 1: Sub-committee Terms of Reference

Fabric and Maintenance Committee – Terms of Reference

Last updated: May 2022

Purpose of the Committee

The Fabric and Maintenance Committee (FMC) has delegated oversight of upkeep of the Cotton Hall and its grounds. The purpose is to ensure that both day-to-day maintenance matters are identified and resolved in a timely manner, and to plan and deliver more substantial work to the building in a pro-active, scheduled manner.

Membership

The membership of the FMC will consist of at least 3 (and no more than 4) Trustees, appointed by the Full Trustee body. One member will act as Chair, and one will act as Secretary. Membership of this committee will be reviewed by the Full Trustee body from time to time.

The FMC may co-opt up to two non-Trustee members with particular skills deemed useful to the Committee. Co-opted members may be appointed for at most one year at a time, and any member co-opted for more than 3 months must be ratified by the Full Trustee body at their next meeting

Spending powers

The FMC will have a routine maintenance budget delegated by the Full Trustee body and may spend whatever they deem necessary on items of routine maintenance within this budget. A report on routine maintenance spending must be presented at every Full Trustee meeting.

The FMC may be granted delegated spending powers for a specific project by the Full Trustee body from time to time.

Frequency of Meetings

The FMC must meet at least 3 times per year but may meet as often as they deem necessary. Decisions may be made by email, but these should be noted and confirmed at the next meeting.

Duties

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Health, Safety and Compliance Committee – Terms of Reference

Last updated: May 2022

Purpose of the Committee

The Health, Safety and Compliance Committee (HSC) has delegated oversight of all matter relating to health & safety and legal compliance at the Hall. It is their job to ensure that Trustees are aware of their duties and to make recommendations to the Trustees as necessary.

Membership

The membership of the HSC will consist of at least 3 (and no more than 4) Trustees, appointed by the Full Trustee body. One member will act as Chair, and one will act as Secretary. Membership of this committee will be reviewed by the Full Trustee body from time to time.

The HSC may co-opt up to two non-Trustee members with particular skills deemed useful to the Committee. Co-opted members may be appointed for at most one year at a time, and any member co-opted for more than 3 months must be ratified by the Full Trustee body at their next meeting.

Spending powers

The HSC will have a budget delegated by the Full Trustee body and may spend whatever they deem necessary on matters in their remit within this budget. A report on any spending must be presented at every Full Trustee meeting.

Frequency of Meetings

The HSC must meet at least 3 times per year but may meet as often as they deem necessary. Decisions may be made by email, but these should be noted and confirmed at the next meeting.

Duties

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Finance Committee – Terms of Reference

Last update: July 2022

Purpose of the Committee

The Finance Committee (FC) has delegated oversight of the financial management of the Cotton Hall Foundation. The purpose is to consider all financial matters on behalf of the Trustees and make recommendations for adoption.

Membership

The membership of the FC will consist of at least 3 (and no more than 4) Trustees, appointed by the Full Trustee body. The Treasurer will act as Chair, and one other member will act as Secretary. Membership of this committee will be reviewed by the Full Trustee body from time to time.

The FC may co-opt up to two non-Trustee members with particular skills deemed useful to the Committee. Co-opted members may be appointed for at most one year at a time, and any member co-opted for more than 3 months must be ratified by the Full Trustee body at their next meeting.

Spending powers

The FC will have a budget delegated by the Full Trustee body and may spend whatever they deem necessary on matters in their remit within this budget. A report on any spending must be presented at every Full Trustee meeting.

Frequency of Meetings

The FC must meet at least 3 times per year but may meet as often as they deem necessary. Decisions may be made by email, but these should be noted and confirmed at the next meeting.

Duties

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: Appendix 2

Independent examiner’s report to the trustees of the Cotton Hall Foundation (reg charity no 311356)

I report to the charity trustees on my examination of the accounts of the charity for the financial year ended 31[st] August 2022.

Responsibilities and basis of report

As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). You are satisfied that the accounts of the Trust are not required by charity law to be audited and have chosen instead to have an independent examination.

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for England and Wales 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:

  1. Accounting records were not kept in as required by section 130 of the Act; or

  2. the accounts do not accord with those records.

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.

Signed:

Name: Martyn A Johnson Address: 2A St Margarets Road Girton Cambridge CB3 0LT Date: 30 May 2023

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