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Charity Number 521420
Accounts
Glenfield Memorial Hall
March 31, 2022
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GLENFIELD MEMORIAL HALL
REPORT OF THE MANAGEMENT COMMITTEE
We started this year, like everyone, hoping that life was going to get back to normal. Groups started to gradually return, then so did the next wave of Covid, the Omicron variant.
However, with regulations in place, we were able to welcome many groups back along with a few new bookings. We now have bookings almost in line with the pre Pandemic amounts.
We have run this year on a lower compliment of Trustees due to retirements, but looking forward we have been able to recruit and Co Opt ‘New Blood’ and look forward to appointing them at the forth coming AGM.
A lot of needed maintenance has taken place this year, and we feel that the Hall is in good shape. However further internal maintenance is being discussed which we hope can be, at least, started during the next financial year.
Peter Knill, Chairman
The management committee presents its report for the year ended March 31, 2022
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 opened again from May 2021, in line with Government restrictions, and we are pleased that previous groups returned along with new groups. The variety of activities that have previously taken place are: - Children’s Playgroup, Karate, Art Group, WI, Old Time Dancing, Folk Dancing, Line 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 Parties. Plus, interest has been shown by several new groups. A website for the Memorial Hall has been developed.
ACCOUNTS
The committee submit the independently examined accounts for the year ended March 31, 2022. This year we received just one grant of £2667 from Blaby DC to assist with the running costs during the Omicron variant of Covid . The £13k unrealised gain on the Investments for the year is due to the continuing valuations of monies invested. As interest rates remain at such a low figure discussion is taking place to invest further monies instead of holding them on deposit. Going forward this will depend on the prevailing interest rates and whether further monies will be needed for additional refurbishment of the Hall..
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. 2021/22 saw a new roof along with new gutters and down pipes, along with various other replacements and improvements to the Hall, at a total cost of £34.5k
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:
Mr P Knill Chairman Mr N Chapman Vice - Chairman Mrs J Greasley Treasurer Mrs C Knill Secretary & Booking Secretary Mr G Allen Mrs J Iliffe Mr R Bowers Mrs P Wilson Mrs S Bright Mr P Tyers Mr M Barton
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] June 2021.
J T Greasley, Treasurer
11[th] May 2022
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GLENFIELD MEMORIAL HALL
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED MARCH 31,2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| INCOME | |||
| Lettings & other income | 1 | 28,901.74 | 29,069.20 |
| Interest | 25.99 | 71.27 | |
| Investment income | 2,363.48 | 2,172.97 | |
| ___ | __ | ||
| 31,291.21 | 31,313.44 | ||
| ___ | __ | ||
| Expenses | 2 | 45,970.83 | 12,640.18 |
| Depreciation | 3 | 4,292.83 | 4,396.79 |
| __ | __ | ||
| Total expenses | 50,263.66 | 17,036.97 | |
| __ | __ | ||
| Operating (Loss)/Surplus for the year | (18,972.45) | 14,276.47 | |
| Unrealised gain on investments | 13,385.26 | 19,072.71 | |
| __ | __ | ||
| (Deficit)/Surplus for year | (5,587.19 | 33,349.18 | |
| Retained surplus brought forward | 306,822.60 | 273,473.42 | |
| __ | ___ | ||
| Retained surplus carried forward | 301,235.41 | 306,822.60 | |
| __ | ___ |
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GLENFIELD MEMORIAL HALL
BALANCE SHEET - AS AT MARCH 31, 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| FIXED ASSETS | 3 | 74,104.31 | 78,397.14 |
| INVESTMENTS | 4 | 126,521.11 | 113,135.85 |
| CURRENT ASSETS | |||
| Debtors | 2,729.00 | 603.00 | |
| Cash at bank - current | 36,019.98 | 51,999.15 | |
| - deposit | 2,057.36 | 2,057.12 | |
| - Charities deposit | 60,581.01 | 60,555.26 | |
| Cash | 19.81 | 75.08 | |
| ___ | ___ | ||
| 101,407.16 | 115,289.61 | ||
| ___ | ___ | ||
| CREDITORS - amounts falling due within | |||
| one year | |||
| Creditors | (797.17) | ||
| __ | __ | ||
| (797.17) | |||
| __ | __ | ||
| NET CURRENT ASSETS | 100,609.99 | 115,289.61 | |
| ___ | ___ | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 301,235.41 | 306,822.60 | |
| ___ | ___ | ||
| TOTAL ASSETS LESS LIABILITIES | 301,235.41 | 306,822.60 | |
| ___ | ___ | ||
| Represented by: | |||
| General fund brought forward | 306,822.60 | 273,473.42 | |
| (Deficit)/Surplus for year | (5,587.19) | 33,349.18 | |
| ___ | ___ | ||
| General fund carried forward | 301,235.41 | 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, 2022
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 2022 £ Blaby Grants 2667.00 Lettings 26,234.74
__ 28,901.74
(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 BID market price.
2 OPERATING EXPENSES
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Heat and light | 1,831.41 | 1,884.11 |
| Rates and water | 699.69 | 895.23 |
| Cleaning and materials | 5,292.50 | 2,884.20 |
| Security | 885.28 | |
| Insurance and licences | 1,541.89 | 1546.49 |
| Roof Repairs | 27,000.00 | |
| Maintenance and renewals | 7,468.06 | 3,898.62 |
| Covid expenses | 671.06 | |
| Paye | 54.80 | |
| Stationery, postage and | ||
| Miscellaneous expenses | 1,252.00 | 805.67 |
| __ | __ | |
| £45,970.83 | £12,640.18 | |
| __ | __ |
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GLENFIELD MEMORIAL HALL
NOTES ON THE ACCOUNTS - MARCH 31, 2022
3 FIXED ASSETS
| FIXED ASSETS | |||
|---|---|---|---|
| Building and car park £ Cost At March 31, 2021 155,104.02 Additions 0 _ Depreciation at March 31, 2021 78,786.02 Depreciation for year 3,877.00 ______ Depreciation at March 31, 2022 82663.02 Net book value at 72,441.00 March 2022 |
Fixtures and Furniture £ 31,773.68 0 _ 29,694.54 415.83 _ 30,110.37 1,663.31 |
Total £ 186,877.70 0 _ 108,480.56 4,292.83 _ 112,773.39 |
|
| 74,104.31 | |||
| The original cost of the hall and furniture were not capitalised. In the opinion of the committee the original | The original cost of the hall and furniture were not capitalised. In the opinion of the committee the original | 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 | ||
| 2022 | 2021 | ||
| at market | at market | ||
| value | value | ||
| Quoted investments | |||
| £ | £ | ||
| 1181.163 M & G Charifund Income Units | 18,658.95 | 17,391.56 | |
| 1351.228 Blackrock Accumulation Units | 31,943.03 | 28,794.67 | |
| 4214.76 Schroder Charity Equity Units | 19,324.67 | 16,711.52 | |
| 1451.86 COIF Equity units | 28,614.27 | 25,975.95 | |
| 17339.09 COIF Property units | 22,395.17 | 18,417.35 | |
| 4731.862 M & G Charibond Income units | 5,585.02 | 5,844.80 | |
| __ | __ | ||
| 126,521.11 | 113,135.85 | ||
| Cost | 52,809 | 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 2022 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: