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2023-12-31-accounts

Charity registration number 520008

ASTBURY VILLAGE HALL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

ASTBURY VILLAGE HALL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs K Wainwright
Mrs J M Nadin
Mrs Y Walker
Mrs R Birchall
Mr N Barton
Mrs S Brightwell
Mr J R Hulse
Mrs B C Cook
Mrs C Goodwin
Charity number 520008
Principal address Peel Lane
Astbury
Congleton
Cheshire
CW12 4RQ
Independent examiner Amanda Grint, FCCA
Hammond McNulty LLP
Bank House
Market Square
Congleton
Cheshire
England
CW12 1ET

ASTBURY VILLAGE HALL

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 12

ASTBURY VILLAGE HALL

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "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

The Public Area of Benefit is the Ecclesiastical Parish of Astbury and its immediate vicinity. The charity provides a Building and Facilities for the Arts, Culture, Sport and Recreation of the General Public of the Area of Benefit.

Users of the Hall pay at the rate determined by the Management Committee at the Annual General Meeting. The policy is to charge sufficient through rentals to run and maintain the Hall and The Close and to build up a Contingency Fund for major repairs and to fulfil statutory requirements.

During the year the Hall was hired out on a regular basis to various groups for meetings. It was available also for private parties, wedding receptions, exhibitions and public meetings.

The Close is currently tenanted and provides a source of income for the Hall. The Steward invoices the Committee and is paid for services rendered.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

The hall has continued to grow. Bookings have increased which has helped to support the increased costs for the gas and electric. This doubled in the October but due to a small price increase on hire charges this has allowed us to maintain the cash flow. We continue to improve the hall. A new cooker was installed and the exterior/interior was painted throughout. A Honeywell controller was installed to help with running costs of the heating.

Financial review

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Management Committee's reserves policy is to keep a minimum of £15,000 in hand should unforeseen events occur. This is also the level deemed sufficient to smooth out fluctuations in cash flow.

£50,059 of unrestricted funds were available as cash at bank and in hand on 31 December 2023.

Structure, governance and management

The governing document is a Conveyance dated 4th April 1946; the charity was registered on 25th February 1965.

ASTBURY VILLAGE HALL

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees who served during the year and up to the date of signature of the financial statements were: Mrs K Wainwright Mrs J M Nadin Mrs Y Walker Mrs R Birchall Mr N Barton Mrs S Brightwell Mr J R Hulse Mrs B C Cook Mrs C Goodwin

Recruitment and appointment of trustees

Any vacant Trustee positions are advertised in the local area, all committee members must be reappointed each year at the AGM. The AGM is open to members of the old and new committees and to the inhabitants of the age of 18 years or upwards of either sex of the Parish of Astbury for the purpose of receiving the Report and accounts of the old committee and to confirm the new committee.

The trustees' report was approved by the Board of Trustees.

..............................

Mr J R Hulse

Trustee

Date: .............................................

ASTBURY VILLAGE HALL

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ASTBURY VILLAGE HALL

I report to the trustees on my examination of the financial statements of Astbury Village Hall (the charity) for the year ended 31 December 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Amanda Grint, FCCA

Hammond McNulty LLP Bank House Market Square Congleton Cheshire CW12 1ET England

Dated: .........................

ASTBURY VILLAGE HALL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income from:
Charitable activities
Hall hire 3 37,101 27,557
Other trading activities 4 1,376 1,045
Investments 5 6,600 6,600
Total income 45,077 35,202
Expenditure on:
Charitable activities
Village Hall expenditure 6 42,215 31,353
The Close expenditure 6 538 1,992
Total charitable expenditure 42,753 33,345
Total expenditure 42,753 33,345
Net income and movement in funds 2,324 1,857
Reconciliation of funds:
Fund balances at 1 January 2023 827,390 825,533
Fund balances at 31 December 2023 829,714 827,390

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

ASTBURY VILLAGE HALL

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
12
Investment property
13
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
The funds of the charity
Unrestricted funds		 2023
£
50,059
(1,300)		 £
480,955
300,000
780,955
48,759
829,714
829,714
829,714
829,714		 2022
£
47,655
(1,220)		 £
480,955
300,000
780,955
46,435
827,390
827,390
827,390
827,390

The financial statements were approved by the trustees on .........................

.............................. Mr J R Hulse Trustee

ASTBURY VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

Astbury Village Hall is an unincorporated charitable trust.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's conveyance, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

ASTBURY VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings

not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

ASTBURY VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from charitable activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Hall hire
Charitable rental income 37,101 27,557

ASTBURY VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

4 Income from other trading activities

Bar fees
5
Income from investments
Rental income
6
Expenditure on charitable activities
Village Hall
expenditure
The Close
expenditure
2023
2023
£
£
Direct costs
Rates and water
589
-
Insurance
1,024
398
Light and heat
4,618
-
Telephone
642
-
Stewards' fees
11,170
-
Cleaning and sundries
3,793
-
Repairs, maintenance and
renewals
19,437
140
Licences
522
-
41,795
538
Share of support and governance costs (see note 7)
Governance
420
-
42,215
538
Analysis by fund
Unrestricted funds
42,215
538		 Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
1,376
1,045
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
6,600
6,600
Total
Village Hall
expenditure
The Close
expenditure
Total
2023
2022
2022
2022
£
£
£
£
589
509
-
509
1,422
1,009
324
1,333
4,618
2,675
-
2,675
642
728
-
728
11,170
9,460
-
9,460
3,793
3,060
-
3,060
19,577
12,301
1,668
13,969
522
1,251
-
1,251
42,333
30,993
1,992
32,985
420
360
-
360
42,753
31,353
1,992
33,345
42,753
31,353
1,992
33,345		 Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
1,376
1,045
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
6,600
6,600
Total
Village Hall
expenditure
The Close
expenditure
Total
2023
2022
2022
2022
£
£
£
£
589
509
-
509
1,422
1,009
324
1,333
4,618
2,675
-
2,675
642
728
-
728
11,170
9,460
-
9,460
3,793
3,060
-
3,060
19,577
12,301
1,668
13,969
522
1,251
-
1,251
42,333
30,993
1,992
32,985
420
360
-
360
42,753
31,353
1,992
33,345
42,753
31,353
1,992
33,345
Total
2022
£
509
1,333
2,675
728
9,460
3,060
13,969
1,251
32,985
360
33,345
33,345

ASTBURY VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

7 Support costs allocated to activities
2023 2022
£ £
Governance costs 420 360
Analysed between:
Village Hall expenditure 420 360
8 Net movement in funds 2023 2022
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements 420 360

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2023 2022
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

ASTBURY VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

12 Tangible fixed assets

Tangible fixed assets
Freehold land
and buildings
£
Cost
At 1 January 2023 480,955
At 31 December 2023 480,955
Carrying amount
At 31 December 2023 480,955
At 31 December 2022 480,955

Investment properties rented to another entity have been accounted for using the cost model. The carrying value of these investment properties included within tangible fixed assets is £300,000 (2022 - £300,000).

13 Investment property

Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023 300,000
Freehold
14
Creditors: amounts falling due within one year
Accruals and deferred income		 2023
£
300,000
2023
£
1,300		 2022
£
300,000
2022
£
1,220

15 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January Incoming Resources
At		 31 December
2023 resources expended 2023
£ £ £ £
General funds 827,390 45,077 (42,753) 829,714

ASTBURY VILLAGE HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

15 Unrestricted funds (Continued)
Previous year: At 1 January Incoming Resources
At		 31 December
2022 resources expended 2022
£ £ £ £
General funds 825,533 35,202 (33,345) 827,390

16 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

Key management personnel Stewards' fees
2023
£
11,170
11,170		 2022
£
9,460
9,460

Sally Brightwell a trustee of the charity, is paid on a self-employed basis for her role as the Village Hall Steward.

The following amounts were outstanding at the reporting end date:

Amounts owed to related
parties
2023 2022
£ £
Key management personnel 910 860
- -