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2024-03-31-accounts

Charity registration number 520127 (England and Wales)

THE UPTON VICTORY HALL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

THE UPTON VICTORY HALL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs M Kalil
P Walker
K Balgobin
Mrs E M Munro
Mr M J Bidston (Appointed 22 June 2024)
Mr G L Dewhurst (Appointed 27 November
2023)
Charity number (England and Wales) 520127
Independent examiner Helen Furlong FCCA
Xeinadin North West Limited
46 Hamilton Square
Birkenhead
Wirral
Merseyside
CH41 5AR
Bankers Barclays Bank PLC
182-184 Grange Road
Grange Precinct
Birkenhead
Merseyside
CH41 6EA
Solicitors Kirwans Solicitors
363 Woodchurch Road
Prenton
Wirral
Merseyside
CH42 8PE
Investment advisors Evelyn Partners
Royal Liver Building
Pier Head
Liverpool
Merseyside
L3 1NY

THE UPTON VICTORY HALL

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 16

THE UPTON VICTORY HALL

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

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 declaration of trust, 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

Objectives, aims and public benefit The objects of the charity are to permit the land and buildings described in parts 1 and 2 of the First Schedule to the Trust Deed, to be appropriated and used in perpetuity in a nondenominational and non political place of recreation and social intercourse under the name of "The Upton Victory Hall" for the benefit of the inhabitants of Upton. The trustees are aware of the public benefit requirements and feel the charity meets them.

Significant activities The charity receives income from the hire of its hall, and renting out of the other facilities to its constituent Clubs, and other organisations.

Achievements and performance

The Trust continues to operate in a challenging environment and the Committee is to be highly commended for the manner in which they continue to conduct the day-to-day affairs of The Upton Victory Hall.

The Trustees are satisfied that the activities carried out during the year are consistent with the aims and objects of the Charity, under continued difficult circumstances.

At 31 March 2024 the total value of our investments was £136,083 compared with £137,291 at 31 March 2023. All figures are provided by Tilney Bestinvest.

The Trustees have reviewed their investment objective and it was agreed that this should continue to be maximisation of capital. Efforts are being made to bolster the investments of the Charity. The Trustees continue to be satisfied with the performance of Tilney Bestinvest.

Financial review

The overall results for the year show a deficit of £13,951 (2023 deficit £23,514) which when deducted from the reserves brought forward of £218,444 leaves £204,493 to be carried forward. Cash in the bank amounted to £10,476 (2023 £3,153)

The Trustees continue to look to find ways to increase income (expenses are already as low as reasonably can be expected) in particular in the following areas; increase in bar takings by more support from club members etc, a further increase in Hall income and additional voluntary income. Bookings of the Main Hall have continued to be excellent, thanks to the hard work of the Committee and many congratulations must go to the Committee for this. Strong competition from nearby room hiring facilities in the Village always has to be borne in mind. The Committee has been working very closely with other Community Groups within the Village, which culminated in the very successful Upton Lights Switch On.

However, there is always continued expenditure needed for the fabric of the Hall to ensure that the buildings are in such a condition to attract more hirers of the Hall and more members to the constituent clubs.

The trustees will ensure that the charity has the necessary free reserves to cover its liabilities and that the unrestricted reserves equate to (or exceed) three months "core" costs, currently approximately £25,000. At 31 March 2024 the Free Reserves amounted to £138,245 (2023 £134,321).

THE UPTON VICTORY HALL

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The UVH Charity recognises that risks may come in a number of ways and under various classifications such as governance, financial, compliance, operational and external. The governance structure within the organisation is set within three discrete levels (Trustee, Executive Committee and individual constituent Club level) which aims to ensure that risk identification and management is ongoing throughout the organisation at the appropriate level. There continues to be an emphasis on containing costs and wherever possible, reducing them. Considerable effort is also being placed on boosting hall lettings income, and the income received from the constituent clubs.

There have been, over the year, improvements made to the fabric of the building and furnishings, all of which have the purpose of improving Trust facilities for the benefit of members and public. Examples of such projects include floodlighting to some tennis courts, new toilets, a new shelter for the croquet club and improvement of some of the outside areas.

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

The Upton Victory Hall Trust is constituted under a Deed of Declaration of Trust dated 5 August 1920, revised on 12 November 1946.

The trustees who served during the year and up to the date of signature of the financial statements were: Mrs M Kalil

P Walker K Balgobin Mrs E M Munro Mr M J Bidston (Appointed 22 June 2024) Mr G L Dewhurst (Appointed 27 November 2023)

When the need arises, existing trustees are responsible for approaching various people who are familiar with the charity and have appropriate skills to become future trustees. The board of trustees then decide if they wish to appoint the nominations.

The furtherance of the objects of the Trust and the day-to-day administration of the Upton Victory Hall, is delegated by the Trustees to an Executive Committee who meet monthly to conduct their affairs in accordance with the Bye-Laws. Agendas for those meetings always include:

The Executive Committee give an account of their stewardship at the Annual General Meeting.

THE UPTON VICTORY HALL

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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

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

Mrs M Kalil

Trustee Dated: .........................

THE UPTON VICTORY HALL

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE UPTON VICTORY HALL

I report to the trustees on my examination of the financial statements of The Upton Victory Hall (the charity) for the year ended 31 March 2024.

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.

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

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements 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 the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

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.

Helen Furlong FCCA McLintocks (NW) Limited 46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR Date: ............................

THE UPTON VICTORY HALL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Unrestricted
Restricted
funds
funds
funds
2024
2023
2023
Notes
£
£
£
Income from:
Donations and legacies
3
19
25,004
-
Charitable activities
4
85,884
81,329
-
Other trading activities
5
2,463
1,130
-
Investments
6
1,409
1,172
-
Total income
89,775
108,635
-
Expenditure on:
Raising funds
7
821
903
-
Charitable activities
8
117,882
126,075
-
Total expenditure
118,703
126,978
-
Net gains/(losses) on investments
13
15,403
(5,171)
-
Net expenditure
(13,525)
(23,514)
-
Transfers between funds
-
66,904
(66,904)
Net movement in funds
10
(13,525)
43,390
(66,904)
Reconciliation of funds:
Fund balances at 1 April 2023
218,444
175,054
66,904
Fund balances at 31 March 2024
204,919
218,444
-		 Total
2023
£
25,004
81,329
1,130
1,172
108,635
903
126,075
126,978
(5,171)
(23,514)
-
(23,514)
241,958
218,444

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

THE UPTON VICTORY HALL

BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
15
Investments
16
Current assets
Stocks
17
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within
one year
20
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
21
Net assets
The funds of the charity
Unrestricted funds
23		 2024
£
340
211
10,476
11,027
(7,064)		 £
66,674
136,083
202,757
3,963
206,720
(1,801)
204,919
204,919
204,919		 2023
£
1,058
51
3,153
4,262
(4,103)		 £
84,123
137,291
221,414
159
221,573
(3,129)
218,444
218,444
218,444

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

.............................. Mrs M Kalil Trustee

THE UPTON VICTORY HALL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

The Upton Victory Hall is a charity governed by a Declaration of Trust dated 12 November 1946.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], 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 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, modified to include the revaluation of investments at fair value. 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

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.

Donations and all other receipts from fundraising are reported gross and the related fundraising costs are reported in expenditure.

Legacies are recognised on a case by case basis following the granting of probate when the administrator/ executor has communicated in writing both the amount and the settlement date. In the event the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being

reliably measured with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally on notification of the interest paid or payable by the bank.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification of the interest paid or payable by the bank.

THE UPTON VICTORY HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 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.

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 n/a Freehold improvements 15% on cost Plant and equipment 15% on cost

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 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

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 Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.10 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.

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

THE UPTON VICTORY HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include 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.

Basic financial liabilities

Basic financial liabilities, including creditors 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.

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.

1.12 Taxation

The charity is exempt from tax on its charitable activities.

1.13 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.

1.14 Retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

1.15 Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.

THE UPTON VICTORY HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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 Donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 19 25,004

4 Charitable activities

Operation of Operation of Hall and
Hall and Grounds
Grounds
2024 2023
£ £
Bar Income 11,433 12,852
Quotas 49,869 45,996
Hall Hire Income 24,582 22,481
85,884 81,329

5 Income from other trading activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Membership subscriptions and sponsorships 1,100 1,130
Fundraising events 1,363 -
Other trading activities 2,463 1,130

THE UPTON VICTORY HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

6 Investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Income from listed investments 1,409 1,172
7 Raising funds
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Investment management 821 903
821 903
8 Charitable activities
Operation of Operation of
Hall and Hall and
Grounds Grounds
2024 2023
£ £
Staff costs 44,078 40,410
Depreciation and impairment 17,949 27,317
Rates and water 4,712 4,586
Insurance 5,497 4,553
Light and heat 9,299 6,391
Bar purchases 7,206 7,943
Repairs & Maintenance 15,942 21,072
General expenses 9,956 8,926
Hire purchase 277 367
114,916 121,565
Share of support costs (see note 9) 318 285
Share of governance costs (see note 9) 2,648 4,225
117,882 126,075

THE UPTON VICTORY HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

9
Support costs allocated to activities
Governance costs
Analysed between:
Operation of Hall & Grounds
10
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets		 2024
£
318
2,648
2,966
2,966
2024
£
17,949		 2023
£
285
4,225
4,510
4,510
2023
£
27,317

11 Trustees

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

12 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
4 4
Employment costs 2024 2023
£ £
Wages and salaries 43,374 39,790
Other pension costs 704 620
44,078 40,410

There were no employees whose annual remuneration was more than £60,000.

THE UPTON VICTORY HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

13 Net gains/(losses) on investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Revaluation of investments 14,538 (4,931)
Gain/(loss) on sale of investments 865 (240)
15,403 (5,171)

14 Taxation

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

15 Tangible fixed assets

Tangible fixed assets
Freehold land
and buildings
Freehold
improvements
Plant and
equipment
£
£
£
Cost
At 1 April 2023
100
165,698
89,759
Additions
-
-
501
At 31 March 2024
100
165,698
90,260
Depreciation and impairment
At 1 April 2023
-
101,101
70,334
Depreciation charged in the year
-
12,550
5,399
At 31 March 2024
-
113,651
75,733
Carrying amount
At 31 March 2024
100
52,047
14,527
At 31 March 2023
100
64,597
19,426		 Total
£
255,557
501
256,058
171,435
17,949
189,384
66,674
84,123

THE UPTON VICTORY HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

16
Fixed asset investments
Cost or valuation
At 1 April 2023
Valuation changes
Disposals
At 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023
17
Stocks
Goods for resale
18
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
19
Finance lease obligations
Future minimum lease payments due under finance leases:
Within one year
Within two and five years		 Listed
investments
£
137,291
14,538
(15,746)
136,083
136,083
137,291
2024
2023
£
£
340
1,058
2024
2023
£
£
160
-
51
51
211
51
2024
2023
£
£
1,328
1,235
1,801
3,129
3,129
4,364

THE UPTON VICTORY HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

20
Creditors: amounts falling due within one year
Notes
Obligations under finance leases
19
Trade creditors
Other creditors
Accruals and deferred income
21
Creditors: amounts falling due after more than one year
Notes
Obligations under finance leases
19
22
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2024
£
1,328
4,487
325
924
7,064
2024
£
1,801
2024
£
704		 2023
£
1,235
1,933
259
676
4,103
2023
£
3,129
2023
£
620

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

23 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 April Incoming Resources Transfers Gains and At 31 March
2023 resources expended losses 2024
£ £ £ £ £ £
General funds 218,444 89,775 (118,703) - 15,403 204,919
Previous year: At 1 April Incoming Resources Transfers Gains and At 31 March
2022 resources expended losses 2023
£ £ £ £ £ £
General funds 175,054 108,635 (126,978) 66,904 (5,171) 218,444

THE UPTON VICTORY HALL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

24 Related party transactions

There were no disclosable related party transactions during the year.