2021-03-31-accounts - Lydbury North Village Hall

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LYDBURY NORTH VILLAGE HALL UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

TaxAssist Accountants

Lydbury North Village Hall Contents of the Unaudited Accounts For The Year Ended 31 March 2021

Contents
	Page
Business Details	1
Approval	2
Accountant's Report	3
Proft and Loss Account	4—5
Balance Sheet	6
Notes to the Accounts	7

Lydbury North Village Hall Business Details For The Year Ended 31 March 2021

Business Lydbury North Village Hall Nr Bishop's Castle Shropshire SY7 8AQ Accountants TaxAssist Accountants 114b Corve Street Ludlow SY8 1DJ

Page 1

Lydbury North Village Hall Accounts Approval Statement For The Year Ended 31 March 2021

I approve these un-audited accounts which comprise a Profit and Loss Account, Balance Sheet and related notes.

I acknowledge my responsibility for the accounts including the provision of all the information and explanations necessary for the completion.

Mrs Liz Moran

Date

Page 2

Lydbury North Village Hall Accountant's Report

For The Year Ended 31 March 2021

We have prepared for your approval the financial statements of Lydbury North Village Hall for the year ended 31 March 2021 which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to Lydbury North Village Hall in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lydbury North Village Hall and state those matters that we have agreed to state to Lydbury North Village Hall in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lydbury North Village Hall for our work or for this report.

It is your duty to ensure that Lydbury North Village Hall has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lydbury North Village Hall. You consider that Lydbury North Village Hall is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lydbury North Village Hall. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. TaxAssist Accountants 114b Corve Street Ludlow SY8 1DJ

Page 3

	Lydbury North Village Hall	Lydbury North Village Hall
	Proft and Loss Account
	For The Year Ended 31 March	2021
		2021			2020
	£		£	£	£
Turnover
Hire fee - Hall			869		8,886
Events			-		3,781
Sundry Income			18		13
Donations			-		23
			887		12,703
Cost of Sales
Performance costs		-			1,664
Bar/refreshments		-			821
GROSS PROFIT			887		10,218
Other Operating Income
Other coronavirus grant income	19,431				-
			19,431		-
			20,318		10,218
Other Income
Bank interest receivable			13		77
Bequest interest received			5,868		5,445
Solar panel income			855		619
			27,054		16,359
Expenditure
Water		209			307
Light and heat		487			819
Cleaning		921			2,364
Hygiene		372			345
Computer software costs		58			58
Maintenance - premises and land	3,441				3,368
Insurance	1,322				1,285
Printing, postage and stationery		33			404
Telecommunications		546			546
Accountancy fees		360			348
Subscriptions		569			621
Bank charges		-			15
Sundry expenses		412			92
Gas		708			1,331
			9,438		11,903
			17,616		4,456
					...CONTINUED

Page 4

Lydbury North Village Hall Profit and Loss Account (continued) For The Year Ended 31 March 2021

Depreciation
Depreciation of plant and machinery	370		493
		370		493
NET PROFIT		17,246		3,963

Page 5

	Lydbury North Village Hall	Lydbury North Village Hall
	Balance Sheet
	As at 31 March 2021
		2021		2020
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	2		46,982		47,353
CURRENT ASSETS
Cash at bank and in hand		48,387		30,549
CURRENT LIABILITIES
Trade creditors		327		119
Accruals and deferred income		360		348
		687		467
NET CURRENT ASSETS			47,700		30,082
TOTAL ASSETS LESS CURRENT LIABILITIES			94,682		77,435
NET ASSETS			94,682		77,435
CAPITAL ACCOUNT
Balance at 1 April 2020			77,436		73,472
Proft/(Loss) for the period/year			17,246		3,963
Balance Carried Forward	3		94,682		77,435

Page 6

Lydbury North Village Hall Notes to the Accounts For The Year Ended 31 March 2021

1. Accounting Policy

These unaudited accounts have been completed in accordance with UK Generally Accepted Accounting Practice guidelines and provides sufficient and relevant information to enable completion of a tax return.

2. Tangible Assets

2. Tangible Assets
	Land &
	Property
	Freehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 April 2020	45,872	9,319	55,191
As at 31 March 2021	45,872	9,319	55,191
Depreciation
As at 1 April 2020	-	7,839	7,839
Provided during the period	-	370	370
As at 31 March 2021	-	8,209	8,209
Net Book Value
As at 31 March 2021	45,872	1,110	46,982
As at 1 April 2020	45,872	1,480	47,352
Tangible fxed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery - 25% reducing balance

Page 7