Cosy Hall Community Trust Financial Statements For the Year Ended 31st December 2023 Contents Page Independent Examiner's Report Statement of Financial Activities Balance Sheet Movement of Funds ANNEX - RESERVES & INVESTMENT POLICY 5 Charity Number 514505
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COSY HALL COMMUNITY TRUST I have conducted an Èodependent examination of the flluncial 5tatement8 of Cosy Hall Community Trust for the year ended 3 1st December 2023, as set out on pages 2 to 4. Respectlve Duties of the Trustees and Examiner As Trustees you are responsible for tbe preparation of the accounts. It is my responsibility to stats, on the basis of pri)cedure5 specified in the General Direction5 given by the Charity Comrnissioners under Section 145{5) of the Charitie5 Act 2011, whether particular matters have come to my attention, Bo91s of Independent Ex8mlner)s Reporl My examination was carried out in accordance with the General Directions given by the Charity Commissioners. The examination iiicludes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. Jt also includes Consideration of any unusual items of 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 I do not express an opinion on the view given by the accounts. Independent Examlner's Ststement No matter ha5 ¢om¢ to my att¢ntion with the examination which gave me reasonable cause to believe that in any material r¥spect accounting recoids have not bccii kept in accorddnce with Section 130 of the Charities Act 2011 or that the dciounts do nut accord with those records,. No oth¢r matt¢rs hav¢ ¢om¢ to my att¢ntlon in connection with the examinatlon to which attention should be drawn to enable a proper understanding of the accounts to be reached. Elizabeth Vok¢s Date.. Page I
STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31st December 2023 Unrestricted Funds Restrictsd Funds Tool YIE 31112123 Total YtE 31112122 Ineome Income from hirings Donation5 and fund-raising InteresÉ Other in¢ome (e.g. Photocopyin81 '£ 41,586,17 '£ 252.45 '£ 2,578.44 269.75 '£41,586.17 252.45 '£ 2,578.44 269.75 '£ 30,523.07 7.00 582.96 20.00 '£ 44 686.81 Total Income: '£ 44 686.81 1£ 31 133.03 ExpeDditur¢ Salaries, PAYE and NIC (and Cleaning) Maintenance and Testing Ggs and Electricity In8urance Wat¢r and Drainage charges Administrauve and Janitorial expenses Telecomms Licen¢e5 and Subs¢riptions Capital Items ,£ l9,279.85 ,£ 3,176.03 ,£ 15,424.70 ,£ 2,525.81 532.99 ,£ 2.056.38 896.57 850.06 400.00 ,£ 19,279.85 ,£ 3,176.03 ,£ 15,424.70 ,£ 2,525.81 532.99 ,£ 2.056.38 896.57 850.06 400.00 ,£ 19,120.32 ,£ 4,754.21 ,£ 6,700.91 ,£ 2,306.40 424.32 ,£ 1,899.07 805.12 .£ 1,467,20 949.98 £ 45 142.39 Total Expendfiture: £45 142J9 1£3 427.53 Bank Accounts Current Impregt COIF and P.Cash (Deposit) Total 31112123 Total 31112122 Opening balances as at 1st Jan Plus- Receipts Transfers from other alcs Interest Less - Payments Transfers to other alcs Charges '£ 29,222 '£ 1,441 '£ 39,054 '£ 3,054 '£ 4,278 '£ 60,000 '£ 90,663 '£ 42,108 '£ 4,278 '£ 2,578 '.£ 45,142 '-£ 4,278 '£ 97,957 '£ 30,550 '£ 2,783 583 '4 38,428 '-£ 2,783 '£ 2,578 '.£ 43,989 ' 1,173 '-£ 1,700 ' 2.578 Closing Balances as at 31st Dec '£ 28 585 '£ 1622 '£ 60 000 '£ 90 207 '£ 90 662 Page 2
BALANCE SHEET As at 318t Decembér 2020 Less Cumulative Depreciation 31112123 Net Book Value 31112122 Net Book Value Original C05t Flxod Assets Land and buildings Fumiture, fittings and equipment Office equipment '£ 345,429.91 '£ 71,811.57 '£ 66,423.27 '£ 5,993.56 '£ 5,923.57 '£ 345,429.91 '£ 5.388.30 69.99 '£ 345,429.91 5,302.55 139.99 '£ 423 235.04 '£ 72 346.84 '£ 350 888.20 '£ 350 872.45 Small capital items with a value of less thall £200 are fully written-down An the year of purchase Current Assets 31112123 31112122 Bank Balances Current Account Imprest Account I Cash On Deposit Net Curront Assets I Worklng Capltal: '£ 28,585.48 '£ 1,621.79 '£ 60,000.00 '£ 29,222.06 '£ 1,440.79 '£ 60 000.00 '£ 90 662.85 '£ 90 207.27 Total Assgts: '£ 441095.47 '£ 441535,30 Less.. Creditors (Amounts falling due within one year) (Amounts falling due after one year) Totsl Net Assets '£ 441095A7 '£ 441535.30 Capltal and Funds Employed 31112123 31112122 Restricted Funds Unrestricted Funds '£ 350,198.71 '£ 90 896.76 '£ 350,093.71 '£ 91441.59 '£ 441535.30 '£ 441095.47 Restricted Funds.. Fixed Assets Current Assets '£ 350,089.71 109.00 '£ 350,089.71 4.00 '£ 350 093.71 '£ 350 198,71 Unrestricted Funds.. Fixed Assets Designated Current Assets.. Planned capital works" Expected maintenance 798.49 782.74 '£ 8 000,00 '£ 8 000.00 '£ 8 000.00 '£ 82,658.85 '£ 8,000.00 Undesignated Current Assets Less Creditors '£ 82,098.27 '£ 90 098.27 '£ 91441.59 '£ 91441.59 '£ 441536.30 '£ 90 898.76 '£ 441095.47 * Capital improvements have been defrrred in the light of inflationary pressure, in particular of fuel Costs, Page 3
Movement of Funds Unrestricted Restricted Total YIE 31112123 Total YIE 31112122 Balances brought forward at 1st Jan. '£ 91,441.59 '£ 350,093.71 Net income for the year (.' £ 560.58 '£ 105.00 New fixed assets 400.00 '£ Less depreciation of fixed assets (-'£ 384.25 (-'£ '£ 441,535.30 (-'£ 455.58 400.00 {_'£ 384.25) '£ 448.257.05 {-'£ 7,294.50 949.98 {-'£ 377.23) o) '£ 90 896,76 '£ 350 198.71 Balances carrled fOard at 31st Doc. '£ 441095A7 '£ 441636.30 Th¢ accounts were approved by the trustees at the meeting on the 28th March 2024 and signed on their behalf by M Wiggin Chairnian G Spurr Treasurer Page 4
ANNEX- RESERVES AND INVESTMENT POLICY Cosy Hall Community Trust, owns and operates a con]munity building. It aims to cover its running Costs ¢ntirely from lettings income, it does not routinely fund-rnise foi itself. or for other good causes. Any sury)lus monies from nonnal operation, gifts and bequests, etc.. not rcquired for day-to-day rLmning, are held to meet contingencies, and be invested in longer-term instruments to produce income or for capital growth, as permitted under the Charities Acts to protect the long-tenn financial security of the charity and of the service it provides. The Reserve Fund is an UnT¢Stricted Fund, and both the capital and income may be used for any purpose within the Trust's objects. Notwithstanding that money may be held in reserve, or in strategic long-terni investments, the Trustees m¢ly alsv from time to time seek 8rant assistance for specific projects from external funding bodies. Page 5
Trustees, Report for the Year Ending 3 1st Dember 2023 l. Trustees: Truste¢s during th¢ y¢ar w¢r¢." President and Holding Trustees". M. S. Miles MBE (Hon President, Holding Trust¢¢) Mr. T. Bentbam (Holding Trustee) M. K. King (Holding Trnstee) Offic¢rs: Cltr M. Wiggin fflon Chair Mrs. J. Sterling (Hon Vice Chair. Mr. G. SPU (Hon Trcasurer) Mr. D. Clancy (Hon Assistant Treasurer) Mrs. M. Wynn OBE (Hon Secretary) Representative and Elected Thstees: Mr. R. Bcrrow Mr. B. Cannon (until 27th April) Mrs. L. Cawthorne (until 26th January) Mr. T. Forrester M. S. Wiggin Cllr Paul Crewe (representing Newport Town Council) w.e.f. 25th May 2. Principal ctivities Th¢ Tnt LS facilities of a and public pe registered charity (Number 514505) whose principal activity 18 to provide th¢ village hall for the community of Newport to be used for meetings, classes, lectures om]ances, and for other forn of leisure and recreational activities. 3. Review of the Year The facilities of the Hall continue to attract cnquiri¢s from organisations and individual members of the community. As a result, Cosy Hall has a substantial number of regular hirers, as well as many 'one-off' hirers, Cosy Hall continu¢s to be conmiitted to the welfare of Newport residents, and has hosted First Aid courses. puhaSed a defibrillator, obtained Bl¢¢d control kits, and has hosted PSA Prostate Cancer Screening and Awareness Events. 4. Significant Events The hall manager, Mr. Tmi D¢nt, resigned w.e.f. the ¢nd of March. Mr. Simon Broad was Kcruit in his stead, and took up post w.¢.f I st April 2023 The Trust continues to bc in a hcalthy fanCIal position, despite the impact of the Covid cpid¢mic. This was in many respects thc result of Cosy Hall acting as a Lateral Flow Test Centre from Febrnary 2021 until the end of June 2021. Cosy Hall was thus able to provide a valuable and nwch- appreciated service to the public. In August 2022, the global increase in energy prices had necessitated an incre&se in hiring charges. However, this had not affected the number of people hiring the hall too badly &nd. at the end of
2023, we were able to n¢gotiate a much more advantageous two-year contrnct, alld restore the hire fees to their previous rntes. /kn Signed on behalf of the trustees