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← East Markham Village Hall

2024-12-31-accounts

East Markham Village Hall Annual General Meeting Thursday 6 March 2025, 7.30pm Chairman's Report l am sorrythat this will be a little brief, but I have not been chairingthe committee for very long. With reference to the events, I will hand over to Amyfor the details, forthe financials I will leave it to the treasurer. With reference to convertingthe charityto a limited liabilityforthe trustees. this will be completed on Mondayfollowing the appointments made at this AGM. The craft fairs seem to be a great success. thanks to Lisa, however we probably ought to reconsider the contribution to the viLlage hall. The same applies to the events: if they are organised under the auspices of the village hall, it would be remiss of us as a charity not to see some general accounts. With respect to the blocking up of the fi,"0 door bdhind the stage, it is my considered opinion that this poses too big a risk. At the moment we have a fire assessment done by the architect and approved under building regulations. I fear another appraisaL could seriously reduce the capacity of the haLI and could pose an enhanced risk to people who participate in plays. etc where when the stage is erected and curtains present. With respect to the cinema, thanks to Jane fortaking it over. I wish you luck on yourfirst screening on Saturday, and dependant on Drogress it may. be desirable to purchase an electrically operated screen to be permanently installed: this would make set up much easier and be avaiLable to other groups and visiting speakers. Rob Carlin Chairman 2024-2025

East Markham Village Hall Unaudited financial statements

31 December 2024

East Markham Village Hall

Financial statements

Year ended 31 December 2024

Contents Pages
Officers and professional advisers 1
Report to the management committee on the preparation of the
unaudited statutory financial statements 2
Statement of income and retained earnings 3
Statement of financial position 4
Notes to the financial statements 5 to 7
The following pages do not form part of the financial statements
Detailed income statement 9
Notes to the detailed income statement 10

- 1 -

East Markham Village Hall

Officers and professional advisers

Management committee Mr D Dodds - Trustee Mr R Harkness – Member Mr A Storr - Secretary Registered office Lincoln Road East Markham Newark NG22 0SS Accountants darbys limited Chartered accountants New Quorn House 41 Potter Street Worksop Nottinghamshire

- 2 -

East Markham Village Hall

Report to the management committee on the preparation of the unaudited statutory financial statements of East Markham Village Hall

Year ended 31 December 2024

We have prepared for your approval the financial statements of East Markham Village Hall for the year ended 31 December 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the society's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/rulebook.

Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

darbys limited Chartered accountants

New Quorn House 41 Potter Street Worksop Nottinghamshire

25 February 2025

- 3 -

East Markham Village Hall

Statement of income and retained earnings

Year ended 31 December 2024

2024 2023
Note £ £
Turnover 29,615 25,717
Cost of sales 6,564 5,656
──────── ────────
Gross profit 23,051 20,061
Administrative expenses 21,308 18,231
──────── ────────
Operating profit 1,743 1,830
──────── ────────
Profit before taxation 5 1,743 1,830
Tax on profit – –
─────── ───────
Profit for the financial year and total comprehensive income 1,743 1,830
═══════ ═══════
Retained earnings at the start of the year 72,865 71,035
──────── ────────
Retained earnings at the end of the year 74,608 72,865
════════ ════════

The notes on pages 5 to 7 form part of these financial statements.

- 4 -

East Markham Village Hall

Statement of financial position

31 December 2024

2024 2023
Note £ £ £
Fixed assets
Tangible assets 6 18,338 20,706
Current assets
Stocks 1,109 300
Debtors 7 680 1,063
Cash at bank and in hand 55,201 51,568
──────── ────────
56,990 52,931
Creditors: amounts falling due within one year 8 720 772
──────── ────────
Net current assets 56,270 52,159
──────── ────────
Total assets less current liabilities 74,608 72,865
──────── ────────
Net assets 74,608 72,865
════════ ════════
Capital and reserves
Profit and loss account 74,608 72,865
──────── ────────
Members funds 74,608 72,865
════════ ════════

These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements were approved by the management committee and authorised for issue on 25 February 2025, and are signed on their behalf by:

A Storr Secretary

25 February 2025

The notes on pages 5 to 7 form part of these financial statements.

- 5 -

East Markham Village Hall

Notes to the financial statements

Year ended 31 December 2024

1. General information

The society is a private society limited by shares, registered in England and Wales. The address of the registered office is Lincoln Road, East Markham, Newark, NG22 0SS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

- 6 -

East Markham Village Hall

Notes to the financial statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the society are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the society during the year amounted to 3 (2023: 2).

5. Profit before taxation

Profit before taxation is stated after charging:

Depreciation of tangible assets

==> picture [107 x 46] intentionally omitted <==

----- Start of picture text -----
2024 2023
£ £
6,112 3,605
═══════ ═══════
----- End of picture text -----

- 7 -

East Markham Village Hall

Notes to the financial statements (continued)

Year ended 31 December 2024

6. Tangible assets

Fixtures and
fittings Total
£ £
Cost
At 1 January 2024 36,687 36,687
Additions 3,744 3,744
──────── ────────
At 31 December 2024 40,431 40,431
════════ ════════
Depreciation
At 1 January 2024 15,981 15,981
Charge for the year 6,112 6,112
──────── ────────
At 31 December 2024 22,093 22,093
════════ ════════
Carrying amount
At 31 December 2024 18,338 18,338
════════ ════════
At 31 December 2023 20,706 20,706
════════ ════════
7. Debtors
2024 2023
£ £
Trade debtors 673 1,063
Other debtors 7 –
──── ───────
680 1,063
════ ═══════
8. Creditors: amounts falling due within one year
2024 2023
£ £
Social security and other taxes – 52
Other creditors 720 720
──── ────
720 772
════ ════

- 8 -

East Markham Village Hall

Management information

Year ended 31 December 2024

The following pages do not form part of the financial statements.

- 9 -

East Markham Village Hall

Detailed income statement

Year ended 31 December 2024

2024 2023
£ £
Turnover
Business users – 4,602
Regular user hire 8,114 5,204
Private hire 3,033 2,194
Sales bar 14,644 7,182
Events income 861 –
Other income 1,276 2,551
Interest received 687 540
Grants 1,000 3,444
──────── ────────
29,615 25,717
Cost of sales
Opening stock - raw materials 300 –
Bar purchases 7,373 4,253
Event costs – 1,703
─────── ───────
7,673 5,956
Closing stock (1,109) (300)
─────── ───────
6,564 5,656
──────── ────────
Gross profit 23,051 20,061
Overheads
Administrative expenses 21,308 18,231
──────── ────────
Operating profit 1,743 1,830
──────── ────────
Profit before taxation 1,743 1,830
════════ ════════

- 10 -

East Markham Village Hall

Notes to the detailed income statement

Year ended 31 December 2024

2024 2023
£ £
Administrative expenses
Wages and salaries 4,465 3,309
Rates and water 2,777 1,453
Light and heat 2,875 2,753
Insurance – 1,423
Repairs and maintenance 1,893 3,430
Cleaning costs 136 167
Computer costs 314 660
Printing postage and stationery 257 12
Sundry expenses 1,084 544
Subscriptions 513 –
Refreshments 162 –
Advertising – 80
Accountancy fees 720 720
Depreciation of tangible assets 6,112 3,605
Bank charges – 75
──────── ────────
21,308 18,231
════════ ════════

East Markham Village Hall Unaudited financial statements

31 December 2024

East Markham Village Hall

Financial statements

Year ended 31 December 2024

Contents Pages
Officers and professional advisers 1
Report to the management committee on the preparation of the
unaudited statutory financial statements 2
Statement of income and retained earnings 3
Statement of financial position 4
Notes to the financial statements 5 to 7
The following pages do not form part of the financial statements
Detailed income statement 9
Notes to the detailed income statement 10

- 1 -

East Markham Village Hall

Officers and professional advisers

Management committee Mr D Dodds - Trustee Mr R Harkness – Member Mr A Storr - Secretary Registered office Lincoln Road East Markham Newark NG22 0SS Accountants darbys limited Chartered accountants New Quorn House 41 Potter Street Worksop Nottinghamshire

- 2 -

East Markham Village Hall

Report to the management committee on the preparation of the unaudited statutory financial statements of East Markham Village Hall

Year ended 31 December 2024

We have prepared for your approval the financial statements of East Markham Village Hall for the year ended 31 December 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the society's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/rulebook.

Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

darbys limited Chartered accountants

New Quorn House 41 Potter Street Worksop Nottinghamshire

25 February 2025

- 3 -

East Markham Village Hall

Statement of income and retained earnings

Year ended 31 December 2024

2024 2023
Note £ £
Turnover 29,615 25,717
Cost of sales 6,564 5,656
──────── ────────
Gross profit 23,051 20,061
Administrative expenses 21,308 18,231
──────── ────────
Operating profit 1,743 1,830
──────── ────────
Profit before taxation 5 1,743 1,830
Tax on profit – –
─────── ───────
Profit for the financial year and total comprehensive income 1,743 1,830
═══════ ═══════
Retained earnings at the start of the year 72,865 71,035
──────── ────────
Retained earnings at the end of the year 74,608 72,865
════════ ════════

The notes on pages 5 to 7 form part of these financial statements.

- 4 -

East Markham Village Hall

Statement of financial position

31 December 2024

2024 2023
Note £ £ £
Fixed assets
Tangible assets 6 18,338 20,706
Current assets
Stocks 1,109 300
Debtors 7 680 1,063
Cash at bank and in hand 55,201 51,568
──────── ────────
56,990 52,931
Creditors: amounts falling due within one year 8 720 772
──────── ────────
Net current assets 56,270 52,159
──────── ────────
Total assets less current liabilities 74,608 72,865
──────── ────────
Net assets 74,608 72,865
════════ ════════
Capital and reserves
Profit and loss account 74,608 72,865
──────── ────────
Members funds 74,608 72,865
════════ ════════

These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements were approved by the management committee and authorised for issue on 25 February 2025, and are signed on their behalf by:

A Storr Secretary

25 February 2025

The notes on pages 5 to 7 form part of these financial statements.

- 5 -

East Markham Village Hall

Notes to the financial statements

Year ended 31 December 2024

1. General information

The society is a private society limited by shares, registered in England and Wales. The address of the registered office is Lincoln Road, East Markham, Newark, NG22 0SS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

- 6 -

East Markham Village Hall

Notes to the financial statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the society are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the society during the year amounted to 3 (2023: 2).

5. Profit before taxation

Profit before taxation is stated after charging:

Depreciation of tangible assets

==> picture [107 x 46] intentionally omitted <==

----- Start of picture text -----
2024 2023
£ £
6,112 3,605
═══════ ═══════
----- End of picture text -----

- 7 -

East Markham Village Hall

Notes to the financial statements (continued)

Year ended 31 December 2024

6. Tangible assets

Fixtures and
fittings Total
£ £
Cost
At 1 January 2024 36,687 36,687
Additions 3,744 3,744
──────── ────────
At 31 December 2024 40,431 40,431
════════ ════════
Depreciation
At 1 January 2024 15,981 15,981
Charge for the year 6,112 6,112
──────── ────────
At 31 December 2024 22,093 22,093
════════ ════════
Carrying amount
At 31 December 2024 18,338 18,338
════════ ════════
At 31 December 2023 20,706 20,706
════════ ════════
7. Debtors
2024 2023
£ £
Trade debtors 673 1,063
Other debtors 7 –
──── ───────
680 1,063
════ ═══════
8. Creditors: amounts falling due within one year
2024 2023
£ £
Social security and other taxes – 52
Other creditors 720 720
──── ────
720 772
════ ════

- 8 -

East Markham Village Hall

Management information

Year ended 31 December 2024

The following pages do not form part of the financial statements.

- 9 -

East Markham Village Hall

Detailed income statement

Year ended 31 December 2024

2024 2023
£ £
Turnover
Business users – 4,602
Regular user hire 8,114 5,204
Private hire 3,033 2,194
Sales bar 14,644 7,182
Events income 861 –
Other income 1,276 2,551
Interest received 687 540
Grants 1,000 3,444
──────── ────────
29,615 25,717
Cost of sales
Opening stock - raw materials 300 –
Bar purchases 7,373 4,253
Event costs – 1,703
─────── ───────
7,673 5,956
Closing stock (1,109) (300)
─────── ───────
6,564 5,656
──────── ────────
Gross profit 23,051 20,061
Overheads
Administrative expenses 21,308 18,231
──────── ────────
Operating profit 1,743 1,830
──────── ────────
Profit before taxation 1,743 1,830
════════ ════════

- 10 -

East Markham Village Hall

Notes to the detailed income statement

Year ended 31 December 2024

2024 2023
£ £
Administrative expenses
Wages and salaries 4,465 3,309
Rates and water 2,777 1,453
Light and heat 2,875 2,753
Insurance – 1,423
Repairs and maintenance 1,893 3,430
Cleaning costs 136 167
Computer costs 314 660
Printing postage and stationery 257 12
Sundry expenses 1,084 544
Subscriptions 513 –
Refreshments 162 –
Advertising – 80
Accountancy fees 720 720
Depreciation of tangible assets 6,112 3,605
Bank charges – 75
──────── ────────
21,308 18,231
════════ ════════