Lon den Villa e Hall g g
| Title: | Treasurer's Report | Year: | 31-Dec-23 |
|---|---|---|---|
| Issue No: | One | Issue Date: | 19-Apr-24 |
The Accounts have been prepared on an accrual basis. I report as follows:
Income
Hall income was up substantially on 2022 as the Hall committee have made significant efforts to raise funding for the proposed renovation. Total income was £47,639 in 2023, compared to £15,278 in 2022, an increase of £32,193, or 211% on the 2022 amount.
The largest contributor to this was through donations, with £22,500 from Swire trusts and £4,813 from Longden Millenium Club in aid of the extension and renovation. In total, donations for the year topped £30,000.
Alongside donations, Committee organized events made significant contributions to increased income. Stripping out donations, income for 2023 was £17,183, an increase of 16% on 2022, and up 140% on the 5 year average of £10,042 for the period 2017-2021. Key annual contributors include the Spring Fayre (£1195), the Classic Car Show (£3,085) and Halloween (£1,070).
Improved community usage of the hall for one off events has also driven up revenue. The introduction of the online booking system in 2022 has been a success, with (pro-rated for 2022 partial year online), bookings in 2023 being up 40% on 2022. 2024 is looking to be a still bigger year – bookings for the full year of 2024 are already in excess of 2023, with more expected to be made over the next 8 months. Regular events continued to provide an increasingly stable income for the hall, rewarding the committee’s efforts to fundraise, with a significant increase of £4,380 on the 2022 amount.
Rents Regular Users (Comprising Dog Club, Zumba, Tennis Club, Parish Council etc.)
Receipts in the year total £13,513 compared to £9,133 in 2022, an increase nearly 50% on the previous year, which was in itself an exceptionally good year.
Parish Council and Tennis club continue to contribute stable amounts of £1,042 between them. Due to inflationary rent increases, the income from Tennis club will increase in 2024 by £345.
There has also been an increase of additional regular events that have significantly contributed to regular income. Events such as Scrabble, Coffee Mornings and Bridge have contributed over £2,100 in income and are up 300% on 2022 .
Regular events such as Dog Club (£1,115 in 2023 v’s £670 in 2022), Yoga (£868 in 2023 v’s £842 in 2022), Table Tennis (£270 in 2023) and Zumba (£407 in 2023 v’s £217 in 2022) continue to bring in a constant stream of revenue.
Rents Occasional (Comprising One Off Events, Weddings, Parties etc.)
Receipts in the year total £3,230 compared with £2,943 for 2022, an increase of 10% from the previous year. The online booking and invoicing system has encouraged wider community usage of the hall, and repeat bookings by users are now being seen. The loss of the caravanning and camping of £400 in 2022 was made up for by other bookings.
Use of the hall’s field for football has yielded £165 in revenue.
Other Receipts / Payments
In reaction to fundraising efforts for the renovation and extension, donations in 2023 were significantly up
Treasurer's Report
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Lon den Villa e Hall g g
| Title: | Treasurer's Report | Year: | 31-Dec-23 |
|---|---|---|---|
| Issue No: | One | Issue Date: | 19-Apr-24 |
on 2022. £22,500 was received from Swire trusts for the refurbishment, with an additional £50,000 pledged when work is progressed, and contractors appointed. £4,800 was donated by the Longden Millenium Club for the extension works, specifically the addition of a new and separate meeting room. £3,000 has also been donated by Swire family trustees for the purposes of the renovation, with additional donations for the year amounting to £118. Total Donations were £30,455. In addition to the donations received in the year, the Garfield Weston Foundation have approved a grant of £20,000 towards the renovation costs, conditional on other funding being raised. Gift Aid has been set up in 2024, and will be claimed on all eligible donations going back over the preceding 5 years, providing an additional boost to the 2024 income.
In total, of the £300,000 (quoted by contractors) required for the renovation and extension of the Hall, the committee has secured half of the funding required for the renovation.
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Total Income (£)
50000
45000
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35000
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25000
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15000
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0
2017 2018 2019 2020 2021 2022 2023
r Regular Income Donations
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Online Bookings
since initiated in May 2022
2500
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500
0
2022 (partial year) 2023 2024 (to date)
Year
Total Hours Booked
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Treasurer's Report
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Lon den Villa e Hall g g
| Title: | Treasurer's Report | Year: | 31-Dec-23 |
|---|---|---|---|
| Issue No: | One | Issue Date: | 19-Apr-24 |
Expenses ~~3~~
~~3~~
While the Hall Committee have sought to maintain their costs to the community of hiring the hall, and not increased prices during the cost of living crisis, the hall has suffered as a result of the inflationary environment, with its running costs increasing over 2023. Some of these are anticipated to stabilize or reduce in 2024. Additionally, during the fundraising efforts, due to the increased number and scale of events being run, additional event costs have been incurred.
Insurance
Insurance cover for 2023 has been maintained with Allied Westminster. There was an increase of £132 to £1067 due to the ending of a previous fixed rate. The increase is inline with market inflation.
| Utilities | 2023 | 2022 | Difference |
|---|---|---|---|
| EDF Gas & Electricity | £1,125 | £849 | £276 |
| WaterPlus | £1,001 | £841 | £159 |
| Totals | £2,126 | £1,691 | £435 |
Total charges have increased significantly by £435 from the previous year. Gas and Electricity increased by 30%, which was reflective of prices nationwide, and are expected to drop in 2024. The rise in the water bill of £159 is being monitored and investigated with Waterplus.
Advertising
Advertising for events amounted to £172 in 2023 compared to £113 for the previous year.
IT Costs
Maintenance of the Website was slightly higher at £252 vs the 2022 amount of £240 for one year of hosting (for the period December 2022 to December 2023). The hall booking system was implemented in the previous year at an annual cost of £120 which remained stable.
Repairs & Maintenance
Grounds maintenance increased by £350 in the year, from £1448 to £1800 due to both increased work and inflation: There was also the 5 year electrical certificate for 2023-2028 costing £636.
Cleaning
Cleaning costs have increased to £600 from £450 in 2022. This is in line with the increased use of the hall.
Events Costs
With the increased events held at the hall, costs relating to these events (such as temporary alcohol licenses) increased events costs from £603 in 2022 to £2,098 in 2023. This also includes the purchase of a SumUp card reader (£170), allowing the hall to take card payments as well as cash. The committee are looking into a permeant alcohol license to reduce the one of cost of these.
Capital Expenditure
Treasurer's Report
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Lon den Villa e Hall g g
| Title: | Treasurer's Report | Year: | 31-Dec-23 |
|---|---|---|---|
| Issue No: | One | Issue Date: | 19-Apr-24 |
In order to accommodate events such as the Classic Car show and Caravan clubs, access to both the Hall parking and the Hall’s fields were upgraded in 2023, with the installation of gates and groundworks by James Davis, at a cost of £3,420.
Renovation and Extension Expenses
In preparation for the proposed renovation and extension, architects’ fees amounting to £9,456 and solicitors fees amounting to £3,024 were incurred. In 2022, a planning application fee was paid to Shropshire Council of £924.
Other Comments
The Hall had a remarkably strong year thanks to the efforts put in by the committee and the community to raise funds for the extension. Stripping out the fees relating to the refurbishment and extension, profit for the year was £35,476. Excluding all donations and refurbishment and capital related costs, operating profit for the year was around £8,500, level with 2022, but including additional costs and in an inflationary environment. The committee expects to build on this in 2024 as we look to start the extension and renovation to improve the space available for the community, and secure the long term future of the Hall.
Treasurer's Report
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Lon den Villa e Hall g g
| Title: | Treasurer's Report | Year: | 31-Dec-23 | 31-Dec-23 | |||
|---|---|---|---|---|---|---|---|
| Issue No: | One | Issue Date: | Issue Date: | 19-Apr-24 | |||
| Balance Sheet | |||||||
| 2023 | 2022 | Movement | |||||
| Assets | Savings Account | 60,759 | 37,819 | 22,939 | |||
| Current Account | 16,102 | 14,681 | 1,421 | ||||
| Prepayment | 1,102 | 1,069 | 33 | ||||
| Receivables | 9,626 | 3,235 | 6,390 | ||||
| Total Assets | 87,588 | 56,805 | 30,783 | ||||
| Liabilities | Liabilities | 13,566 | 5,779 | 7,787 | |||
| Net Assets | 74,022 | 51,025 | 22,996 | ||||
| Profit and Loss | |||||||
| 2023 | 2022 | Movement | |||||
| Income | Rents Regular | 13,514 | 9,133 | 4,381 | |||
| Rents Occasional | 3,230 | 2,943 | 287 | ||||
| Donations | 30,456 | 500 | 29,956 | ||||
| - | - | ||||||
| Other | - | 2,667 | 2,667 | ||||
| Interest | 439 | 35 | 404 | ||||
| Total | 47,639 | 15,278 | 32,361 | ||||
| Expenses | Utilities | 2,126 | 1,691 | 435 | |||
| Cleaning | 598 | 449 | 149 | ||||
| Events | 2,098 | 603 | 1,495 | ||||
| Insurance | 1,069 | 937 | 131 | ||||
| - | - | ||||||
| IT services | 417 | 525 | 108 | ||||
| Building & Maintenance | 2,435 | 1,508 | 927 | ||||
| Fixtures and Fitting | 3,420 | 100 | 3,320 | ||||
| - | - | ||||||
| Other | - | 28 | 28 | ||||
| Total Ordinary Business | |||||||
| Expenses | 12,162 | 5,841 | 6,321 | ||||
| Extra ordinary | |||||||
| Expense | Planning Application | 12,480 | 924 | 11,556 | |||
| Total Expenses | 24,642 | 6,765 | 17,877 | ||||
| Profit for Year | 22,996 | 8,513 | 14,483 |