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Charity Number 521420
Accounts
Glenfield Memorial Hall
March 31, 2021
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GLENFIELD MEMORIAL HALL
REPORT OF THE MANAGEMENT COMMITTEE
After another year dominated with Covid restrictions, the lettings income mostly came from those groups associated with essential services. Income was topped up with few lettings which were allowed between the various lockdowns. Hopefully, now, we can look forward to the Memorial Hall being used fully in the coming year.
During this year we have had to say goodbye to several long-standing Trustees, due to retirement or resignation, and we thank them for all their hard work. We have been fortunate to fill these vacancies and are now back to almost full complement.
Peter Knill, Chairman
The management committee presents its report for the year ended March 31, 2021
OBJECT OF THE CHARITY
The object of the charity is the provision and maintenance of a village hall for the use of the inhabitants of the parish classes, and other forms of recreation and leisure time occupation, with the object of improving the conditions of life of the said inhabitants.
REVIEW OF ACTIVITIES
The management committee have continued their policy of decorating, maintaining and modernisation of the hall and its car park.
The Hall can open again from May 2021, in line with Government restrictions, and we are hoping that previous groups will return. The variety of activities that have previously taken place are: -
Children’s Playgroup, Karate, Old Time Dancing, Folk Dancing, Line Dancing, Ladies Morris Dancing, Yoga, Bridge, Discussion Group, Dancing School, Pop mobility (Ladies Keep Fit), Kumon Maths and English and many more. Saturday and Sunday afternoons are regularly used for Children’s’ Parties. Plus, interest has been shown by several new groups.
A website for the Memorial Hall is under development.
ACCOUNTS
The committee submit the independently examined accounts for the year ended March 31, 2021. Without the various grants paid by Blaby District Council, these accounts would be showing a very sorry operating deficit for the year. The £19K unrealised gain on the Investments for the year also helped to offset last years unrealised loss of almost £14K, showing an unrealised gain of £5K over the 2 years.
Our net current assets, however, which doesn’t include the unrealised gain on the investments, has increased to £115,289.61 from £96,616.
Expenses have generally been held to reasonable levels despite the added costs relating to Covid. Overall, the hall is still in a good financial position. The management committee want to rebuild the reserves that will be necessary to pay for further upgrades. 2021 will see a new roof along with new gutters and down pipes, at a cost of £27K, which the committee has already committed for expenditure.
RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER
It is the responsibility of the Trustees to prepare accounts in accordance with the accounting requirements of the Charities Act 2011. In the opinion of the Trustees, an audit is not required under section 144 of the Charities Act 2011, and that an Independent Examination is required.
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GLENFIELD MEMORIAL HALL REPORT OF THE MANAGEMENT COMMITTEE
MANAGEMENT COMMITTEE
During the year covered by these accounts the officers and members of the committee were:
Mrs Duncan Retired 9/3/2021 Me NJ Duncan Retired 9/3/2021 Mr P Knill Chairman Mr P Heath Resigned 31/3/2021 Vice - Chairman Mrs J Greasley Appointed 9/3/2021 Treasurer Mrs C Knill Secretary & Booking Secretary Mr G Allen Mrs J Iliffe Mr R Bowers Mrs P Wilson Mrs S Bright Mrs K Parker Resigned Mr S Parker Resigned Mr N Chapman Appointed 9/3/2021 Mr P Tyers Appointed 9/3/2021 Mr M Barton Appointed 9/3/2021
At present the following organisations are recognised as existing and having a right to nominate a member of the management committee.
Glenfield Women's Institute Glenfield Twinning Association Glenfield Bowls Club Glenfield Parish Council Glenfield Bridge Club ATC Glenfield Glenfield Gardening Association U3A Glenfield 42[nd] Leicester (Glenfield)Scouts Glenfield Guides Glenfield Town Football Club Glenfield Methodist Church Glenfield Park Women’s Institute
TRUSTEES AND STATUS
Glenfield Parish Council are the trustees who hold the building for the committee. The Glenfield Memorial Hall is an unincorporated body which is a registered charity number 521420/1-L4. It is governed by the Scheme dated April 15, 1985. Its bankers are:
National Westminster Bank PLC
The Charities Official Investment Fund
Mrs. Diane Brown is the independent examiner originally appointed by letter from the Chairman dated 19th Nov 2018.Approved by email by Trustees and confirmed for the current year at The AGM 8[th] September 2020.
J T Greasley, Treasurer
11[th] May 2021
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GLENFIELD MEMORIAL HALL
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED MARCH 31,2021
| 2020 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| INCOME | |||
| Lettings & other income | 1 | 26,689.74 | 29,069.20 |
| Interest | 374.04 | 71.27 | |
| Investment income | 2,644.06 | 2,172.97 | |
| ___ | __ | ||
| 29,707.84 | 31,313.44 | ||
| ___ | __ | ||
| Expenses | 2 | 15,816.10 | 12,640.18 |
| Depreciation | 3 | 4,526.73 | 4,396.79 |
| __ | __ | ||
| Total expenses | 20,342.83 | 17,036.97 | |
| __ | __ | ||
| Operating Surplus for the year | 9,365.01 | 14,276.47 | |
| Unrealised (loss)/gain on investments | (13,894.54) | 19,072.71 | |
| __ | __ | ||
| (Deficit)/Surplus for year | (4,529.53) | 33,349.18 | |
| Retained surplus brought forward | 278,002.95 | 273,473.42 | |
| __ | ___ | ||
| Retained surplus carried forward | 273,473.42 | 306,822.60 | |
| __ | ___ |
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GLENFIELD MEMORIAL HALL BALANCE SHEET - AS AT MARCH 31, 2021
| 2020 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| FIXED ASSETS | 3 | 82,793.93 | 78,397.14 |
| INVESTMENTS | 4 | 94,063.14 | 113,135.85 |
| CURRENT ASSETS | |||
| Debtors | 1,061.00 | 603.00 | |
| Cash at bank - current | 33,473.18 | 51,999.15 | |
| - deposit | 2,056.25 | 2,057.12 | |
| - Charities deposit | 60,484.86 | 60,555.26 | |
| Cash | 48.59 | 75.08 | |
| ___ | ___ | ||
| 97,123.88 | 115,289.61 | ||
| ___ | ___ | ||
| CREDITORS - amounts falling due within | |||
| one year | |||
| Creditors | (507.53) | ||
| __ | __ | ||
| (507.53) | |||
| __ | __ | ||
| NET CURRENT ASSETS | 96,616.35 | 115,289.61 | |
| ___ | ___ | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 273,473.42 | 306,822.60 | |
| ___ | ___ | ||
| TOTAL ASSETS LESS LIABILITIES | 273,473.42 | 306,822.60 | |
| ___ | ___ | ||
| Represented by: | |||
| General fund brought forward | 278,002.95 | 273,473.42 | |
| (Deficit)/Surplus for year | (4,529.53) | 33,349.18 | |
| ___ | ___ | ||
| General fund carried forward | 273,473.42 | 306,822.60 | |
| ======== | ======== | ||
| Approved by management committee | |||
| P Knill – Chairman |
J T Greasley – Treasurer
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GLENFIELD MEMORIAL HALL
NOTES ON THE ACCOUNTS - MARCH 31, 2021
1 ACCOUNTING POLICIES
- (a) Basis of Accountancy
The accounts are prepared under the historical cost convention and in accordance with applicable accounting standards.
(b) Income
Income is taken into account on receivable basis.
| Lettings and other income | 2021 |
|---|---|
| Blaby Grants | 19669.00 |
| Furlough monies received | 1144.80 |
| Insurance refund | 15.01 |
| Lettings | 8170.39 |
| Donation | 70.00 |
| __ | |
| 29,069.20 | |
| _ |
(c) Depreciation
The cost, or the net cost in the case of the car park extension, of fixed assets is depreciated by equal annual instalments over their expected useful lives as follows:
Freehold property - 40 years Furniture - 20 % on reducing balance
(d) Investments
Long term investments are valued at the market price.
2 OPERATING EXPENSES
| 2020 | 2021 | |
|---|---|---|
| £ | £ | |
| Heat and light | 2,632.93 | 1,884.11 |
| Rates and water | 562.16 | 895.23 |
| Caretaker and cleaning materials | 6,219.01 | 2,884.20 |
| Insurance and licences | 1,805.82 | 1546.49 |
| Maintenance and renewals | 3,469.91 | 3,898.62 |
| Covid expenses | 671.06 | |
| Paye |
257.89 | 54.80 |
| Stationery, postage and | ||
| Miscellaneous expenses | 868.38 | 805.67 |
| __ | __ |
|---|---|
| £15,816.10 | £12,640.18 |
| __ | __ |
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GLENFIELD MEMORIAL HALL
NOTES ON THE ACCOUNTS - MARCH 31, 2021
3 FIXED ASSETS
| FIXED ASSETS | |||
|---|---|---|---|
| Building and car park £ Cost At March 31, 2018 155,104.02 Additions 0 _ Depreciation at March 31, 2020 74,909.03 Depreciation for year 3,877.00 ______ Depreciation at March 31, 2021 78,786.02 Net book value at 76,318.00 March 2021 |
Fixtures and Furniture £ 31,773.68 0 _ 29,174.75 519.79 _ 29,694.54 2,079.14 |
Total £ 186,877.70 0 _ 104,083.77 4,396.79 _ 108,480.56 |
|
| 78,397.14 | |||
The original cost of the hall and furniture were not capitalised. In the opinion of the committee the original hall had a value of £220,000 at March 31, 2009, additions since then have been capitalised at cost.
4 INVESTMENTS
| 4 INVESTMENTS |
||
|---|---|---|
| Quoted investments 1181.163 M & G Charifund Income Units 1351.228 Blackrock Accumulation Units 4214.76 Schroder Charity Equity Units 1451.86 COIF Equity units 16574.29 COIF Property units 4731.862 M & G Charibond Income units Cost |
2020 at market value £ 14,120.45 22,470.92 12,089.41 21,520.92 17,992.26 5,869.18 __ 94,063.14 52,809 |
2021 at market value £ 17,391.56 28,794.67 16,711.52 25,975.95 18,417.35 5,844.80 __ 113,135.85 52,809 |
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REPORT OF THE INDEPENDENT EXAMINER TO THE COMMITTEE
I have examined the accounts for the year ended 31 March 2021 of the Glenfield Memorial Hall set out on pages 2 to 7
Respective responsibilities of Trustees and Examiner
As the charities trustees you are responsible for the preparation of the accounts; you do consider the audit requirement of section 43(2) of the Charities Act 1993does not apply. It is my responsibility to state, on the basis of procedures specified in the general directions given by the Charity Commissioners under section 43(7)(b) of the Act whether particular matters have come to my attention.
Basis of Independent Examiners report
My examination was carried out in accordance with the general directions given by the Charity Commissioners. A n 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 such matters. The procedures taken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiners Statement
In connection with my examination, no matter has come to my attention:
1 Which gives me reason to believe that in any material respect the requirements
(a) to keep accounting records in accordance with section 41 of the Act: and
(b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met: or
2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Diane Brown Independent Examiner Date: June 2021