CHIPPING & DISTRICT MEMORIAL HALL FUND STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 FOSTER & CO LTD . CHARTERED ACCOUNTANTS PRESTON
CHIPPtNG & DISTRICT MEMORIAL HALL FUND CONTENTS PAGE TRUSTEES ADVISERS & SYNOPSIS OF THE PROVISIONS OF THE TRUST DEED TRUSTEES. ANNUAL REPORT tNDEPENDENT EXAMtNER'S REPORT STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET NOTES TO THE FtNANCIAL STATEMENTS
CHIPPING & DISTRtCT MEMORIAL HALL FUND Created b Trust Deed dated 15 Se tember 1953 istered CEWI Number 521070 Principal Address: Garstang Road Chipping Preston PR3 2QL Secretary: Ms Lisa Cookson Trustees: Ms Theresa Eveson (Chair) Mr Robert Fenton (Treasurer) Mr Simon Hor¢ Mr Martin Butters Mrs Mary Harrison Mr Paul Hunt Mr Kevin Kelsall Mrs Ann Walmsley Mrs Hazel Craig Mr Mark Ross Ms Clare Compton Mr Edward Berry Ms Claire Davies Bankers: National Westminster Bank plc Longridge Independent Examiners: Foster & Co Ltd Unit 16 Eastway Business Village Olivers Place Fulwood Preston PR2 9wr Objectives: The Trust premises shall be held for the purpose of physical and mentsl training, recreation and intellectual development for the benefit of the inhabitants of Chipping and Leagram with Little Bowland.
CHIPPNG & DISTRICT MEMORIAL HALL FUND TRUSTEES. ANNUAL REPORT The Trustees present their Report and the Financial Statements for the year ended 31 March 2024. Trustees & Advisers These are shown on page l. of Results The results for the year are shown on page 4. The results for the year reflect continued post Covid economic challenges in tern]s of the impact of inflation and wider uncertainty on the village hall's financial position, While the Trustees are reasonably satisfied with th¢ stste of the Trust affairs as a whole, as an outcome of a review of its operations going forward, the Multi-use Games area (MUGA) asset was transferred under a Memorandum of Understanding to Chipping Parish Council together WAth full fvture operational responsibility passed to Chipping Village Football Club. Further details are provided in Note 7b. Presentation of the Accounts The Trnstees continued to adopt the requirements of the Statement of Recommended Practice Accounting by Charities for the current year. Statement of Trustees. Res onsibilities Charity law requires the Trustees to prepare Financial Statements for each financial year, which give a true and fair view of the state of affairs of the Charity and of the statement of financial activities for that period. In preparing those Financial Statements, the Trustees are required to: select suitable accounting policies and then apply them consistently. - make judgements and estimates that are reasonable and pnent. state whether the policies are in accordance with applicable accounting standards. prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensu that the Financial Statements comply with the ChitIeS Act 2011. They are also responsible for safeguarding the asset of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Ms T Eveson, Chairwoman 4 September 2024
INDEPENDENT EL4MINER'S REPORT TO THE TRUSTEES OF CHIPPING & DISTRJCT MEMORIAL HALL FUND I report to the trustees on my examination of the accounts of Chipping & District Memorial Hall Fund for the year ended 31 March 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Trust's accounts carrled out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I can confinn that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by section 130 of the 2. the accounts do not accord with those records. or 3. the accounts do not comply with the applicable requirements concerning the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. 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 r¢ached. Miss J K Foster ACA Foster & Co Ltd Unit 16 Eastway Business village Olivers Place Fulwood Preston PR2 9WT 4 September 2024
CHlPPtNG & DISTRICT MEMORIAL HALL FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 INCOME & EXPENDITURE - 2024-- Endowment Fund Unrestricted Funds Restrlcted Funds 2024 Total 2023 Total Note INCOMING RESOURCES Income: Donations Operating Activlties In furtherance of The Charity's objects:_ Hire of Hall & Car Park MUGA Income Gymnasium Activities Investmeni Income:. Interest Dividends B4RN Electricity Reimbursement 4755 4755 8086 19830 2567 1752 19830 2567 1752 15229 6377 1368 956 826 7512 956 826 7512 706 434 TOTAL IN NG RESOUR 38198 38198 32200 RESOURCES EXPENDED Direct Charitable Ex enditure: Food and other Purch&ses for Re-sale Wages Electricity & Heating Oil Insurance MUGA Expenses Water Rates Stationery. Postage & Advertising Telephone Cleaning & Sundry Expenses Rep8irs & Renewa]s Depreciation 2197 15832 12729 2949 6473 2629 627 192 2161 3632 1479 2197 15832 12729 2949 6473 2629 627 192 2161 3632 1479 2790 14612 9127 2674 2051 3096 462 198 2537 3053 14799 l(d) 50900 50900 55399 Mana ement & Admini Accountancy Professional Fees & Licen¢es ion ofth 678 1472 678 1472 612 1603 2150 2150 2215 LRES CES EXP ED 53050 53050 57614 Nei Trading Resources Profit on Realisation of Investments (14852) (14852) {25414) 5960 5960 2928 (8892) 648206 Fund Balan¢¢ Brought Forward (8892) 648206 {22486) 670692 FLfND BALANCES CARRIED FOR WARD 639314 639314 648206
CHIPPING & DISTRICT MEMORIAL HALL FUND BALANCE SHEET AT 31 MARCH 2024 2024 2023 Note Investments 72900 81594 ible Fixed Assets 503460 545777 576360 627371 Current Assets Cash at Bank Cash at Stockbroker Debtors 13970 917 13882 7803 344 15229 28769 23376 Current Liabilities Creditors and ACclS 6653 2541 6653 2541 Net Current Assets 22116 20835 Net Assets 598476 648206 Funds Capital Funds Endowinents 399102 399102 Income Funds Restricted Funds 250437 250437 Unrestricted Funds Loss re. Transfer of MUGA 7(b) (10225) (40838) (1333) 598476 648206 Approved on be f of the Trustees Ms T Eveson The notes on pages 6 - 9 fomi part of the accounts. Date: 4 September 2024
CHIPPING & DISTRICT MEMORIAL HALL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (a) Basis of Accountin These accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice Accounting by Charities (the "SORP"). The following accounting policies have been applied consistently throughout the year. (b) Income Income is accounted for on an accruals basis. enditure Expenditure is recognised on an accruals basis. reciation Provision for depreciation of tangible fixed assets held for use by the Charity is made at annual rates calculated to spread the cost (less anticipated residual disposal value) of each asset evenly over its expected useful life. The depreciation rates currently in use are as follows: Freehold Property Plant & Equipment - 150/0 on written down value DONATIONS 2024 2023 Bar Profit Donated from CVH Entertainments Ltd Sundry Donation 4605 150 8086 4755 8086
CHIPPING & DISTRICT MEMORIAL HALL FLfND NOTES TO THE FANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTINUED TANGIBLE FIXED ASSETS Freehold Pro Plant & ui Total Cost As at l April 2023 Transfer to Parish Council 495080 261198 (261198) 91957 848235 (261198) 31 March 2024 495080 91957 587037 reciation As at l April 2023 Charge for the Year Transfer to Parish Council 220360 82098 1479 302458 1479 (220360) (220360) As at 31 March 2024 83577 83577 Net Book Value 31 March 2024 495080 8380 503460 31 March 2023 495080 40838 9859 545777 DEBTORS - Short Tenn 2024 2023 Trade Debtors Donations Receivable Prepayments 8788 4691 403 5369 8086 1774 13882 15229 CREDITORS: Amounts Falling Due Within One Year 2024 2023 Taxation and Social Security Deposits Received in advance Accruals 114 792 5747 400 2141 6653 2541
CHIPPING & DISTRICT MEMORIAL HALL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTINUED SUMMARY OF NET ASSETS BY FUNDS Loss re. Transfer ofMUGA Endowment Fund Restricted Unrestricted Funds Funds 7b Total Fixed Assets Net Current Assets 399102 250437 (32341) 22116 (40838) 576360 22116 Net Assets 399102 250437 (10225) (40838) 598476 7(b) DISPOSAL OF THE MUGA ASSET The Multi-use Games Area (MUGA) was originally an externally funded development to benefit the local village community and sum)unding are4 which the Trust then absorbed into its operations for practical considerations through a 'transfer' from Chipping Parish Council. The main users of the asset over the last few years have been Chipping Village Football Club. An agreement was reached via a Memorandum of Understanding (Mou) between the Trust, Chipping Village Football Club and the Parish Council to transfer ownership of the entire asset and the continued responsibility, risks and rewards of operation from l October 2023 to the Parish Council and Football Club respectively for a period of l O years. As part of Mou. it was agreed that the asset would transfer to the Parish Council at Net Book Value as at 30 September 2023, with no actual consideration being paid to the Trust. Consequently, this has resulted in a technical loss on transfer of £40,838, which has been recognised directly within Balance Sheet funds and a reduction in Net Assets. In addAtion, operating revenues and costs (including depreciation) relating to the MUGA have only been included up to 30 September 2023. EMPLOYEES, REMUNERATION Total remuneration for the year amounted to £15832. The average numbers of paid staff for the year were: Administration of the Charity: 4 part-time staff
TRUSTEES, REMUNERATION & EXPENSES No remuneration directly or indirectly out of the funds of the Charity was paid or payable for the year to any Trustee or to any person or persons known to be connected with any of them. No reimbursement of expenses has been made or is due to be made to any Trustee in respect of the year. 10