**REGISTERED CHARITY NUMBER: 522185** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31 March 2024** **for Bilsthorpe Miners Welfare Scheme & Institute** Wright Vigar Limited Chartered Accountants & Business Advisers Unit 4B, The Willows Ransom Wood Business Park Southwell Road West Mansfield Nottinghamshire NG21 0HJ **Bilsthorpe Miners Welfare Scheme & Institute** ## **Contents of the Financial Statements for the Year Ended 31 March 2024** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Balance Sheet**||5|| |**Notes to the Financial Statements**|6|to|9| |**Detailed Statement of Financial Activities**||10|| **Bilsthorpe Miners Welfare Scheme & Institute** ## **Report of the Trustees for the Year Ended 31 March 2024** The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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 and aims** The charity has been established to provide for the maintenance of a Welfare Institute and other facilities for recreation and leisure time occupation for the benefit of the inhabitants of the parishes of Bilsthorpe, Eakring and Rufford and the surrounding neighbourhood and in particular, but not exclusively, such of the said inhabitants that are members of the mining community without distinction of political, religious or other opinions with the object of improving the conditions of life for the said persons. ## **Significant activities** The institute is let under licence to Bilsthorpe Miners Welfare Limited, a company incorporated and limited by guarantee. Bilsthorpe Miners Welfare Limited is required under the terms of a covenant to pay over all realised surpluses to the charity. The institute provides entertainment facilities for it's members and the neighbourhood in accordance with the terms of the charity. The Charity also has sports facilities for use by it's members and the neighbourhood. The sports facilities are available for hire by any individual or organisation in accordance with the standard hiring agreement and scale of charges adopted for the year. The charity also assists in maintaining subsidiary organisations for carrying out the objects of the charity and during the year the subsidiaries which operated were a Bowls club and an Over 50's club. ## **Public benefit** The Trustees have referred to the guidance contract in the Charity Commission's general guidance or public benefit when reviewing it's aims and objectives and is planning it's future objectives. In particular the Trustees have considered how planned activities will contribute to the aims and objectives it has set. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The level of charitable activity failed to recover to pre pandemic levels, almost entirely due to the loss of license fee from the bar activities in 2023/24, with total charitable income down to £27,243 in the Year compared to £40,230 in 2022/23. Income from the sportsfield is moving in the right direction, up on the previous year and significant savings were made with volunteers performing the duties of the Groundsman. Note 2 in the accounts gives a detailed breakdown of the Income. The loss of the license fee is primarily down to an £18,000 increase in electricity charges to the trading company Bilsthorpe Miners Welfare Ltd, see profit & loss account section of trading company's accounts. ## **FINANCIAL REVIEW** ## **Reserves policy** At the year end the charity had negative reserves of £9,758 all of which were unrestricted. The charity has a policy to hold minimum free reserves equivalent to 6 months of running costs (or a reasonable equivalent) in case income ceased, to ensure the charity is able to carry out committed costs and to deal with the winding up of the Charity if necessary. At the year end net current liabilities were (£23,316) which is the biggest hindrance to meeting the policy criteria. The Charity is therefore reliant on financial support from it's trading company, Bilsthorpe Miners welfare Limited and (£20,000) short term borrowings from a private member and the Nottinghamshire Miners Welfare Trust. ## **Going concern** The Trustees have prepared the accounts on a Going Concern basis despite the fact that there were net current liabilities of £23,316 at 31 March 2024. This is because the Trustees are confident that the savings from making the Groundsman redundant, increased revenues from the trading company, reductions in electricity charges, increased revenues from charging the Stewards Flat out at market value (4 times 2022/23 rates) and the assistance of small grants/loans will produce sufficient revenue over the coming 12 months to be able to financially support the charity. Bilsthorpe Miners Welfare Ltd transfers taxable profits to the charity by way of a licence of occupation charge to remove any liability to Corporation Tax. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **Recruitment and appointment of new trustees** Prospective trustees are nominated as a vacancy arises and appointed by the Board of Trustees, such appointments are subject to ratification by the Coal Industry Social Welfare Organisation. Page 1 **Bilsthorpe Miners Welfare Scheme & Institute** **Report of the Trustees for the Year Ended 31 March 2024** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 522185 ## **Principal address** The Crescent Bilsthorpe Nottinghamshire NG22 8QX ## **Trustees** J Chappell (resigned 25.5.23) A Weatherson Y Ragnoli M Cargill (appointed 27.4.23) S McCallum (appointed 27.4.23) Ms E Dale (appointed 6.3.24) ## **Independent Examiner** Wright Vigar Limited Chartered Accountants & Business Advisers Unit 4B, The Willows Ransom Wood Business Park Southwell Road West Mansfield Nottinghamshire NG21 0HJ Approved by order of the board of trustees on 19 December 2024 and signed on its behalf by: M Cargill - Trustee Page 2 **Independent Examiner's Report to the Trustees of Bilsthorpe Miners Welfare Scheme & Institute** ## **Independent examiner's report to the trustees of Bilsthorpe Miners Welfare Scheme & Institute** I report to the charity trustees on my examination of the accounts of Bilsthorpe Miners Welfare Scheme & Institute (the Trust) 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 carried out under Section 145 of the Act and in carrying out my examination I have followed all 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 confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form 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 reached. We would like to draw attention to the sections of the Trustees report regarding reserves and the Trustees opinion on Going Concern. We have been provided with information and explanations to support the points made and have no significant concerns in this area. Matthew Chadwick BA(Hons) FCA Wright Vigar Limited Chartered Accountants & Business Advisers Unit 4B, The Willows Ransom Wood Business Park Southwell Road West Mansfield Nottinghamshire NG21 0HJ 7 January 2025 Page 3 **Bilsthorpe Miners Welfare Scheme & Institute** ## **Statement of Financial Activities for the Year Ended 31 March 2024** |**2024**
**Unrestricted**
**fund**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3,188
Other trading activities
2
24,055
**Total**
27,243
**EXPENDITURE ON**
**Charitable activities**
Charitable Expenses
8,951
Other
34,072
**Total**
43,023
**NET INCOME/(EXPENDITURE)**
(15,780)
**RECONCILIATION OF FUNDS**
Total funds brought forward
6,022
**TOTAL FUNDS CARRIED FORWARD**
(9,758)|**2023**
**Total**
**funds**
**£**
-
40,230| |---|---| ||40,230| ||22,723
36,643| ||59,366| ||(19,136)
25,158| ||6,022| The notes form part of these financial statements Page 4 **Bilsthorpe Miners Welfare Scheme & Institute** ## **Balance Sheet** ## **31 March 2024** |||**2024**|**2023**| |---|---|---|---| |||**Unrestricted**|**Total**| |||**fund**|**funds**| ||**Notes**|**£**|**£**| |**FIXED ASSETS**|||| |Tangible assets|5|13,558|13,146| |**CURRENT ASSETS**|||| |Debtors|6|8,733|8,427| |Cash at bank||5,740|1,415| |||14,473|9,842| |**CREDITORS**|||| |Amounts falling due within one year|7|(37,789)|(16,966)| |**NET CURRENT ASSETS/(LIABILITIES)**||(23,316)|(7,124)| |**TOTAL ASSETS LESS CURRENT LIABILITIES**||(9,758)|6,022| |**NET ASSETS/(LIABILITIES)**||(9,758)|6,022| |**FUNDS**|9||| |Unrestricted funds:|||| |General fund||(9,758)|6,022| |**TOTAL FUNDS**||(9,758)|6,022| The financial statements were approved by the Board of Trustees and authorised for issue on 19 December 2024 and were signed on its behalf by: M Cargill - Trustee The notes form part of these financial statements Page 5 **Bilsthorpe Miners Welfare Scheme & Institute** ## **Notes to the Financial Statements for the Year Ended 31 March 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **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. ## **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. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Improvements to property - 5% on cost Plant and machinery - 15% on reducing balance Fixtures and fittings - 15% on reducing balance ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. OTHER TRADING ACTIVITIES** |Increase in Subsidiary reserve
Billiards, Snooker & Pool
Subscriptions
Car Park and Storage
Jukebox
Licence Fee
Room Hire
Flat Rents
Pitch Hire|**2024**
**£**
159
1,671
1,258
1,980
767
2,973
3,334
1,857
10,056
24,055|**2023**
**£**
1,237
1,435
1,279
-
1,138
23,971
4,389
2,200
4,581| |---|---|---| |||40,230| Page 6 continued... **Bilsthorpe Miners Welfare Scheme & Institute** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 March 2024** ## **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. ## **4. STAFF COSTS** The average monthly number of employees during the year was as follows: |Grounds Maintenance
Administration and Management|**2024**
1
1
2|**2023**
1
1| |---|---|---| |||2| No employees received emoluments in excess of £60,000. |**5.**
**TANGIBLE FIXED ASSETS**
**Improvements**
**to**
**Plant and**
**property**
**machinery**
**£**
**£**
**COST**
At 1 April 2023
139,859
39,922
Additions
-
3,799
Disposals
-
(2,200)
At 31 March 2024
139,859
41,521
**DEPRECIATION**
At 1 April 2023
134,965
32,454
Charge for year
1,124
997
Eliminated on disposal
-
(1,052)
At 31 March 2024
136,089
32,399
**NET BOOK VALUE**
At 31 March 2024
3,770
9,122
At 31 March 2023
4,894
7,468
**6.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Subsidiary balances
VAT
Prepayments and accrued income|**Fixtures**
**and**
**fittings**
**£**
13,231
-
-
13,231
12,447
118
-
12,565
666
784
**2024**
**£**
5,258
-
3,475
8,733|**Totals**
**£**
193,012
3,799
(2,200)
194,611
179,866
2,239
(1,052)
181,053
13,558
13,146
**2023**
**£**
4,349
92
3,986
8,427| |---|---|---| |||| |||| |||| Page 7 continued... **Bilsthorpe Miners Welfare Scheme & Institute** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024** ## **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |---|---|---| |Taxation and social security
Other creditors|**2024**
**£**
1,189
36,600
37,789|**2023**
**£**
719
16,247| |||16,966| ## **8. LOANS** An analysis of the maturity of loans is given below: |||**2024**|**2023**|| |---|---|---|---|---| |||**£**|**£**|| |Amounts falling due within one year on demand:||||| |Other loans||20,000||-| |**MOVEMENT IN FUNDS**||||| |||**Net**||| |||**movement**|**At**|| ||**At 1.4.23**|**in funds**|**31.3.24**|| ||**£**|**£**|**£**|| |**Unrestricted funds**||||| |General fund|6,022|(15,780)|(9,758)|| |**TOTAL FUNDS**|6,022|(15,780)|(9,758)|| |Net movement in funds, included in the above are as follows:||||| ||**Incoming**|**Resources**|**Movement**|| ||**resources**|**expended**|**in funds**|| ||**£**|**£**|**£**|| |**Unrestricted funds**||||| |General fund|27,243|(43,023)|(15,780)|| |**TOTAL FUNDS**|27,243|(43,023)|(15,780)|| |**Comparatives for movement in funds**||||| |||**Net**||| |||**movement**|**At**|| ||**At 1.4.22**|**in funds**|**31.3.23**|| ||**£**|**£**|**£**|| |**Unrestricted funds**||||| |General fund|25,158|(19,136)|6,022|| |**TOTAL FUNDS**|25,158|(19,136)|6,022|| ## **9. MOVEMENT IN FUNDS** Page 8 continued... **Bilsthorpe Miners Welfare Scheme & Institute** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024** ## **9. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: ||**Incoming**|**Resources**|**Movement**| |---|---|---|---| ||**resources**|**expended**|**in funds**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|40,230|(59,366)|(19,136)| |**TOTAL FUNDS**|40,230|(59,366)|(19,136)| ## **10. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2024. Page 9 **Bilsthorpe Miners Welfare Scheme & Institute** ## **Detailed Statement of Financial Activities for the Year Ended 31 March 2024** |**for the Year Ended 31**|**March 2024**|| |---|---|---| ||**2024**|**2023**| ||**£**|**£**| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Grants|3,188|-| |**Other trading activities**||| |Increase in Subsidiary reserve|159|1,237| |Billiards, Snooker & Pool|1,671|1,435| |Subscriptions|1,258|1,279| |Car Park and Storage|1,980|-| |Jukebox|767|1,138| |Licence Fee|2,973|23,971| |Room Hire|3,334|4,389| |Flat Rents|1,857|2,200| |Pitch Hire|10,056|4,581| ||24,055|40,230| |**Total incoming resources**|27,243|40,230| |**EXPENDITURE**||| |**Charitable activities**||| |Groundsman's Salary|4,844|15,249| |Sportsfield Maintenance|4,482|7,474| ||9,326|22,723| |**Support costs**||| |**Management**||| |Secretary's Salary|14,888|12,512| |Rates and water|2,308|4,161| |Insurance|5,327|5,062| |Light and heat|1,871|9,597| |Postage and stationery|339|477| |Accountancy|3,454|2,984| |Travelling expenses|-|196| |Sundries|27|709| |Input vat reclaimed|(345)|(1,775)| |Improvements to property|1,124|1,274| |Plant and machinery|996|1,300| |Fixtures and fittings|118|132| |Loss on sale of tangible fixed assets|898|-| ||31,005|36,629| |**Finance**||| |Bank charges|13|14| |**Other**||| |Property maintenance|2,679|-| |Total resources expended|43,023|59,366| |**Net expenditure**|(15,780)|(19,136)| This page does not form part of the statutory financial statements Page 10