BERNAYS MEMORIAL INSTITUTE
FINANCIAL STATEMENTS
FOR THE
YEAR ENDED 31st DECEMBER 2023
charity no: 312187
charity no: 312187
BERNAYS MEMORIAL INSTITUTE
CONTENTS
Page 1 Independent Examiner's Report
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2 Income & Expenditure Account
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3 Balance Sheet
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4 Notes on the financial statements
charity no: 312187
BERNAYS MEMORIAL INSTITUTE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
I report on the financial statements for the year ended 31st December 2023, which are set out on pages 2 to 6.
Respective responsibilities of the trustees and examiner
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act
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to state whether particular matters have come to my attention
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 130 of the 2011 Act
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
David M Green Gowers Limited The Old School House Bridge Road Hunton Bridge Kings Langley Herts. WD4 8SZ
11th June 2024
Page 1
charity no: 312187
BERNAYS MEMORIAL INSTITUTE
INCOME AND EXPENDITURE ACCOUNT
YEAR ENDED 31st DECEMBER 2023
| notes Income Gross lettings Bank interest Stanmore Club rent Glebe Hall lettings Donations Government grants Total income Expenditure Repairs, replacements, renewals & cleaning Cleaning Refurbishment costs Donation Booking agency Rates & water rates Insurances Light & heat Internet General expenses Examiners fees (governance costs) Total resources expended Net (deficit)/income Total funds bought forward (7) Total Funds carried forward (7) |
2023 £ 49,078 5,226 2,907 13,322 150 - 70,683 4,343 1,783 18,150 1,500 20,160 995 4,281 15,428 317 8,865 732 76,554 (5,871) 523,329 517,458 |
2022 restated £ 55,353 1,334 3,876 10,905 - - |
|---|---|---|
| 71,468 | ||
| 22,722 - - - 20,160 886 4,264 8,949 - 5,417 733 |
||
| 64,631 | ||
| 6,837 516,621 |
||
| 523,458 |
All funds are unrestricted.
Page 2
charity no: 312187
BERNAYS MEMORIAL INSTITUTE
BALANCE SHEET
YEAR ENDED 31st DECEMBER 2023
| notes | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|
| restated | ||||||
| £ | £ | £ | £ | £ | ||
| Fixed assets | (3) | |||||
| Freehold property at cost | 235,952 | 235,952 | ||||
| Fixtures and fittings at cost | 5,794 | 5,794 | ||||
| 241,746 | 241,746 | |||||
| Current assets | ||||||
| Debtors | (4) | 8,711 | 3,255 | |||
| Cash at bank and in hand | (5) | 272,637 | 279,729 | |||
| Appeal fund | (6) | 510 | 510 | |||
| 281,858 | 283,494 | |||||
| Creditors – amounts falling due | (6,146) | (1,782) | ||||
| within one year | ||||||
| Net current Assets | 275,712 | 281,712 | ||||
| Total assets less current liabilities | 517,458 | 523,458 | ||||
| Funds | (7) | 517,458 | 523,458 |
Approved and signed on behalf of the Trustees on 11th June 2024 by
Nigel Reese Treasurer – Trustee
Rev’d Matthew Stone Chair of the Trustees
Page 3
charity no: 312187
BERNAYS MEMORIAL INSTITUTE
NOTES ON THE FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2023
1. Accounting policies
The following accounting policies have been used consistently in dealing with items which are considered material in relation to the charity’s financial statements:
Basis of accounting
The financial statements have been prepared under the historical cost convention and in accordance with applicable UK accounting standards and the Statement of Recommended Practice: Accounting and Reporting by Charities and with the Charities Act. The accounts are prepared under the historical cost convention.
Incoming resources
All incoming resources are included in the income and expenditure account when the charity is entitled to the income and the amount can be quantified with reasonable accuracy
Resources expended
All expenditure is accounted for in the period to which it relates. Any current year expenditure unpaid at the period end is included in current liabilities in the balance sheet where this can be quantified with reasonable accuracy.
Tangible fixed assets for use by the charity
These are capitalised if they can be used for more than one year and are valued at cost. No depreciation is charged on the charity's property and furniture and fittings.
2 . Trustee remuneration and related party transactions
No trustees received any remuneration or reimbursed travel costs during the year. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the financial period.
3. Fixed assets for use by the charity
Cost At 1st January 2023 and 31st December 2023 Depreciation At 1st January 2022 and 31st December 2022 Net book value At 1st January 2022 and 31st December 2022 |
Fixtures and fittings £ 5,794 - 5,794 |
Freehold property Total £ £ 235,952 241,746 - - 235,952 241,746 |
|---|---|---|
Page 4
charity no: 312187
BERNAYS MEMORIAL INSTITUTE
NOTES ON THE FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2023
4. Debtors
| Cash at bank and in hand Creditors: amounts falling due within one year Debtors Prepayments Current accounts Deposit account COIF charity deposit Savings account Undeposited funds Shawbrook Bank Cambridge and Counties Bank Trade creditors Deposits received Accruals |
2023 £ 877 7,834 8,711 2023 £ 18,872 10,056 58,000 15,130 1,906 85,892 82,781 272,637 2023 £ 2,028 750 3,368 6,146 |
2022 £ - 3,255 |
|---|---|---|
| 3,255 | ||
| 2022 restated £ 90,190 - 20,000 5,040 - 85,000 79,500 |
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| 279,730 | ||
| 2022 restated £ - 1,050 732 |
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| 1,782 |
5. Cash at bank and in hand
6. Creditors: amounts falling due within one year
Page 5
charity no: 312187
BERNAYS MEMORIAL INSTITUTE
NOTES ON THE FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2023
7. Funds and restatements
During the financial year, the trustees agreed that the Glebe Hall, as part of the property of the charity, whose net income which had been treated differently for accounting purposes in previous years, should be fully recognised within and as part of the full accounts of the charity. The Glebe Hall income and expenditure, and balances held, has now been fully recognised in the 2023 accounts with restated figures shown for 2022, also including the Glebe Hall detailed results.
The restatement necessitated two prior year adjustments to the funds of the charity, also shown below.
| Restated funds of the charity Funds brought forward as restated (Deficit)/surplus for the year Prior year adjustment Funds carried forward as restated |
2023 £ 523,458 (5,871) (129) 517,458 |
2022 £ 517,748 6,837 (1,127) 523,458 |
|---|---|---|
Page 6