2024-02-29-accounts - Welton Village Hall Trust

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WELTON VILLAGE HALL

Ryland Road, Welton, Lincs., LN2 3LU

Chair/Secretary: Graham Nicholls 59 Eastfield Lane Welton LN2 3ND

Treasurer: Terry Peachman 28 The Hardings Welton LN2 3FE

ANNUAL REPORT 2023-24

This report summarises the work of the trust in the financial year March 2023 to February 2024.

Activity in the hall continued to expand, with a wide range of users from individual family events, small-scale commercial bookings such as various forms of fitness activity, one-off community events, such as the annual pantomime, and regular notfor-profit activities, for example u3a, Tuesday well-being group, Threshold church, Patient and Doctor Association lunches and the monthly farmers’ market. Busy Hands pre-school continues to operate five days a week in the Moncé Room. In total, it was estimated that at current activity levels some 8,000 individual sessions take place in the hall each year.

The physical state of the building and its infrastructure have caused rather more concern this year than in the past. A major problem with the main boiler almost precipitated a crisis but this was averted when repairs were found to be possible. In other ways the hall has begun to show its age and this has increased the significance of the redevelopment project. Although plans have been prepared and support in principle has been agreed with the parish council, raising sufficient funds has not yet been possible. Work is continuing. In preparation for the necessary changes in governance which a major capital project would require, the Trust considered the creation of a new trust deed but deferred action on this until the future requirements became clearer. A company has been created, Welton by Lincoln Village Hall Ltd, should that be required.

One of the most positive developments of the year has been the Tuesday Well-being Group. This group is very well-attended but, as an informal group was finding it difficult to attract funding. Although the Trust has not previously become involved in direct service provision, on this occasion it was decided to do so until such time that the group was able to constitute itself formally. A grant has been secured from Shine, Lincolnshire to support the group’s work during 2024-25, during which time it is anticipated that the group will become self-governing. This innovative approach has been welcomed by and seen as a model by YMCA Lincolnshire, the umbrella body for village halls in the county.

Income from bookings rose significantly during the year and energy costs, perhaps surprisingly, fell slightly. Expenditure on professional fees, resulting from the development project, rose and the cost of insurance cover increased to take account of a revised evaluation of rebuilding costs. Despite these costs, the Trust still achieved a small revenue surplus for the year.

The bar has continued to be run, very efficiently, by Welton Sports and Social Club. The number of bar events has increased and both organisations believe that the joint venture is working well.

As usual, I must record my thanks to all members of the management committee for their work during the year and, in particular, Terry Peachman for his work as Treasurer and many other things besides. Adrian Bradbury continued to undertake essential maintenance but, with his move away from the village, we are pleased to welcome Bob Phillips and Walt Reaney as volunteer caretakers. Marie-Claire Holman’s cleaning team continued to do a great job all through the year.

Last year I noted the retirement of Christine Jackson from the management committee due to ill-health and this year I am very pleased to report her return and the arrival of Chris Buckley as the representative of the Tuesday Well-being Group.

Graham Nicholls Chair

21 May 2024

Welton Village Hall Trust Registered Charity Number 522006/1 Annual Accounts

For the year ending 29th February 2024

Welton Village Hall Trust - Registered Charity Number 522006/1 Balance Sheet

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As at 29th February 2024
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2024 2023
£ £
Fixed Assets
Village Hall 213,�04 213,�04
Fixtures and Fittings 4,5�4 5,5��
Bar Fittings 20� 251
Total Fixed Assets 218,384 219,433
Current Assets
Bar Stock At Cost - �33
Premium Account �0,20� �4,�33
Current Account 2,331 �,5�5
Bar Current Account - -
Debtors 1,324 ��
Total Current Assets 83,861 82,918
Cash Account
Bar Cash in Hand - -
Village Hall Cash in Hand 3�� 2�
Total Cash Account 378 28
Total Assets 302,623 302,379
Current Liabilities
Trade Creditors �� -
Accruals 4�0 4�0
Refundable Deposits 450 �00
Total Current Liabilities 1,026 1,080
Total Liabilities 1,026 1,080
Total Assets less Total Liabilities 301,597 301,299
Represented by:
Unrestricted Funds
Unrestricted Funds B.fwd 1�4,310 1�0,224
Surplus 2�� 14,0��
Total Unrestricted Funds 184,608 184,310
Restricted Funds
Asset Revaluation �2,��1 �2,��1
Contingent Fund 1,330 1,330
Grant Applied 10,125 10,125
Loans Applied 1,500 1,500
Fabric Fund 11,1�3 11,1�3
Total Restricted Funds 116,989 116,989
Total Unrestricted and Restricted Funds 301,597 301,299
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Welton Village Hall Trust

- Registered Charity Number 522006/1 Fixed Assets As at 29th February 2024

Cost

As at 1st March 2023 Additions Disposals As at 29th February 2024

Depreciation

As at 1st March 2023 Charge for the year Eliminated on disposals As at 29th February 2024

Net Book Value As at 29th February 2024 As at 28th February 2023

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Fixtures and
Village Hall Fittings Bar Total
213,�04 4�,4�� ,324 2��,414
- - -
- - - -
213,�04 4�,4�� ,324 2��,414
- 40,�0� �,0�3 4�,��1
- 1,004 45 1,04�
- - - -
- 41,�12 �,11� 51,030
213,�04 4,5�4 20� 21�,3�4
213,�04 5,5�� 251 21�,433
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Welton Village Hall Trust - Registered Charity Number 522006/1 Income and Expenditure As at 29th February 2024

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2024 2023
£ £
Income
Direct Charity Income
Hire of Village Hall
Village Hall Hire 52,�05 45,415
Less Discounts Given - 15,105 - 12,��
Total Hire of Village Hall 37,800 32,547
Wi-Fi
WLDC Income �1� -
Less Expenditure - 5�5 - 53
Total Wi-Fi 41 - 53
Investments
Deposit Account Interest 1,2�2 202
Total Investments 1,272 202
Total Direct Charity Income 39,113 32,696
Non-Charity Income
Bar Sales - �5
- -
Covid 1� grants from WLDC
Project Funding Grants - 2,�50
Donations (Police Mutuals, Welton News and Co-op) - 10,050
Total Non-Charity Income - 12,995
Total Income 39,113 45,691
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Welton Village Hall Trust Registered Charity Number - 522006/1

Income and Expenditure As at 29th February 2024

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2024 2023
£ £
Expenditure
Services Expenditure
Gas and Electricity 5,�0� �,22�
Water Rates �� 5
Insurance 2,�5� 1,��0
Cleaning and waste disposal 10,�24 �,��1
Total Services Expenditure 19,987 17,565
Repairs and Maintenance
Building and Decoration �,�31 10,��3
Depreciation 1,04� 1,2�0
Total Repairs and Maintenance 10,680 12,043
Administration Expenses
Accountancy 4�0 4�0
Professional fees �,540 -
Honorariums and Gifts 250 450
Bank charges �4 �2
Office Expenses 302 35
Total Administration Expenses 7,636 1,037
Licences and Subscriptions
Performing Rights Society (2 Years) 2�� 55�
YMCA 55 -
WLDC 1�0 203
Total Licences and Subscriptions 512 761
Non Charity Event Expenses
Bar Stock (Adjusted) - 11�
Bar Wages and PAYE - 4�
Accountancy - -
Other Bar Expenses - 3�
- -
Depreciation
Total Licences and Subscriptions - 199
Total Expenditure 38,815 31,605
Net Revenue for the Year 298 14,086
Capital Account B.fwd 301,299 287,213
Capital Account C.fwd 301,597 301,299
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Welton Village Hall Trust - Registered Charity Number 522006/1 Bar Trading Account As at 29th February 2024

Sales Cost of Sales Opening Stock Purchases (including stock write down) Closing Stock Gross Profit Expenditure Wages Net Pay Other Bar Expenses Equipment Repairs Gas Cylinders WLDC Licensing Fee Accountancy Other Total Expenditure Net Trading Profit/(Loss)	- - �33 �33 - - - - - - - - - - - - - £ 2024	�5 �5 �4� - �33 - 11� 21 - 4� 4� - - - - 3� 3� 83 104 - £ 2023

Welton Village Hall Trust - Registered Charity Number 522006/1 As at 29th February 2024

Independent Examiner's Report

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 carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed 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 and I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

accounting records were not kept in accordance with section 130 of the Act or · the accounts do not accord with the accounting records

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed :

Date : 22nd April 2024 Name : Jessica Melton, on behalf of Seven Accounting Limited Relevant professional body : ACCA

Address :

Welton Village Hall Trust

- Registered Charity Number 522006/1

For the year ending 29th February 2024

Notes to the financial accounts for the year ending 29th February 2024

Note 1

a) Refundable deposits have been reallocated from income and included within current liabilities.

b) It may be a good idea to get a simple valuation to see if the Village Hall is worth more now. It has been � years since a valuation was done and property valuations have gone up considerably since then.

Note 2

With the exception of the Village Hall, real property (which is recorded in the 1��3 Balance Sheet at Open Market Valuation) in the annexed accounts has been prepared under the historic cost convention.

Note 3

Depreciation is provided on the estimated useful life of the assets and anticipated residual value at 1�� pa reducing balance.

Note 4

There were no Fixed Asset additions during the year.

Note 5

Restricted funds are:

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Fund Type Reason
Asset Revaluation Unrealised appreciation of Fixed Assets
Contingency Unrestricted Capital Donation
Grants Applied Restricted Capital Grant
Loan Applied Restricted Capital Receipt
Special Fund from realised capital receipt (restricted
Fabric Fund from use of Village Hall premises)
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Welton Village Hall Trust Registered Charity Number 522006/1 Annual Accounts

For the year ending 29th February 2024

Welton Village Hall Trust - Registered Charity Number 522006/1 Balance Sheet

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As at 29th February 2024
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Welton Village Hall Trust

- Registered Charity Number 522006/1 Fixed Assets As at 29th February 2024

Cost

As at 1st March 2023 Additions Disposals As at 29th February 2024

Depreciation

As at 1st March 2023 Charge for the year Eliminated on disposals As at 29th February 2024

Net Book Value As at 29th February 2024 As at 28th February 2023

Welton Village Hall Trust - Registered Charity Number 522006/1 Income and Expenditure As at 29th February 2024

Welton Village Hall Trust Registered Charity Number - 522006/1

Income and Expenditure As at 29th February 2024

Welton Village Hall Trust - Registered Charity Number 522006/1 Bar Trading Account As at 29th February 2024

Sales Cost of Sales Opening Stock Purchases (including stock write down) Closing Stock Gross Profit Expenditure Wages Net Pay Other Bar Expenses Equipment Repairs Gas Cylinders WLDC Licensing Fee Accountancy Other Total Expenditure Net Trading Profit/(Loss)	- - �33 �33 - - - - - - - - - - - - - £ 2024	�5 �5 �4� - �33 - 11� 21 - 4� 4� - - - - 3� 3� 83 104 - £ 2023

Welton Village Hall Trust - Registered Charity Number 522006/1 As at 29th February 2024

Independent Examiner's Report

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”).

Independent examiner's statement

I have completed my examination and I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

accounting records were not kept in accordance with section 130 of the Act or · the accounts do not accord with the accounting records

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed :

Date : 22nd April 2024 Name : Jessica Melton, on behalf of Seven Accounting Limited Relevant professional body : ACCA

Address :

Welton Village Hall Trust

- Registered Charity Number 522006/1

For the year ending 29th February 2024

Notes to the financial accounts for the year ending 29th February 2024

Note 1

a) Refundable deposits have been reallocated from income and included within current liabilities.

Note 2

Note 3

Depreciation is provided on the estimated useful life of the assets and anticipated residual value at 1�� pa reducing balance.

Note 4

There were no Fixed Asset additions during the year.

Note 5

Restricted funds are: