Charity registralion number 522904 CORLEY VILLAGE HALL ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIALSTATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
CORLEY VILLAGE HALL ASSOCIATION LEGALAND ADMINISTRATIVE INFORMATION Trust88S Mr C Flatts R Oakes AAtkins J Harris A OTocle W Pittaway MT C Atkins E Bradford Charlty number 52291)4 Reglstered offlce Clo Mrs Ruth Oakes Windy Tor Tamworth Road Corley CV7 8BT Independent examlner Chapman & Co 28 Delaware Road Styvechale Coventry CV3 6LX Bankers HSBC 13&135 Daventry Road Cheylesmore Coventry CV3 5HD
CORLEY VILLAGE HALL ASSOCIATION CONTENTS Trustees. report Slatement ol trustegs, responsililities Indep8ndent 8xaminer's report Slat8ment of financiat activities Balance sheet Notes to the linancial statements 7-12
CORLEY VILLAGE HALL ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The trustees presenl their annual report and financial statements lor the year ended 30 Sepiember 2024. Objeclives and aclivities The charily's objects are to provide effective facilities for the benefit of the local community. The trustees have paid due regard lo guidance issued ty the Charity Commission in deciding what activities the charity should undertake. Achlevements and perforniance The village hall is regularly booked for various events including line dancing, tai chi. yoga, and Ihe little kickers. The photography club hold lorlnightly sessions and two parish councils use Ihe facililies on a monthly basis. The hall is also used lor children's parties, christenings, funerals and dog clubs who organis8 a variety of showing, judges training and first aid etc. The Hall committee run a weeY coffee moming and short mat bowls ISepi-Apr) also monthly boot fair5, a Christmas Fayre and an annuaj fashion show. Maintenance has proved lo be coslly this financial year with floodlights and LED lights costing over £600. Almost a further £600 was spent on boiler and radiator repairs and £744 on white lining the car park. The largest expenditure occurred when woodworm was found in the floor arouncl part of the stage. The floor was then damaged by some visitors and then unfortunately woodwom was also found under the stage. As the extent of the worm under the floor was unknown ar)d the damage done, il was decided to replace the wooden floor with two sheets of marine ply, covered with wood effect vinyl tiles, costing Just under £14,000. The cost of the damage £700 is being recovered by monthly payments. Flnanclal revlew Hall hire income1£18.295} has conlinued to rise even though hire fees have remained the same. Donations and grants {£12,762) are slightly down on the previous year. Fundraising £5,040 has increased by appToximat81y £800. Donated income is generated by items donated to the hall to eilher sell at the monthly car boots, Ihe Christmas tombola, Christmas stall and the honesty corner. Cakes are made weekly by the lady committee members lo sell at both the coffee morning and car boot. These are all donaled. Income tor the year endlng 30 September 20241s £37,924 and expenditure Is £28,103 glvlng a surplus of £9,821 Funds are readily available for any heallh, safety or maintenance requirements to ensure the hall is kept in good condition. The Irustees have recelvèd no remuneration durlng the year. The trustees have assessed the maj'or risks to which the charity is exposed. and a salisfied that systems are in place to mitigale exposure lo Ihe major risks. Structure, governance and managernnl The governing document for the charity is a Declaration ol Trust dated 17th March 1964.
CORLEY VILLAGE HALL ASSOCIATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 The truslees who served during Ihe year and up to the date of signature of the financial statements were: Mr C Plalts R Oakes A Aikins J Harrls AOTocl8 W Pittaway Mr C Atkins E Bradlord Trustees are selected and deselected al Ihe annuai AGM The trustee8' report was approved by ihe Board of Twste8S. Ilndlg E Bradford Trustoa Dal8:
CORLEY VILLAGE HALL ASSOCIATION STATEMENT OF TRUSTEES, RESPONSIBIUTIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 The truslees are responsitrAe for preparing the Trustees. Report and Ihe financiai statemenls in accordance with applicablè law and Unit8d Kingdom Accounting Slandards IUni18d Kingdorn Generally Accepted AQUnIn Practicel. The law appliGable to charities in England and Wales requires the Injstees to prepare financial stalements for each financial year which give a true and lair view of the state of affairs of the charity and of Ihe incoming resources and application ol resources ot Ihe charity for Ihat year. In preparing these financial statements, the trustees are required to: - sfjlgct suitable accounting policies and then apply them consistenlly.. - obseNe the methods and principles in the Charities SORP; make judgements and estimales thal are reasonable and prudent. slate wh81h8r applicable accounti standards have been followed, subj9¢1 to any material departures disdosed and explained in Ihe financi slatemenls; and prepare the financial statements on the going concern basis unless il is inappropriate to presume thal the chaiily will continue in operation. The trustees are responsible lor keeping sufficienl accounling records that disclose with reasonable accuracy al any lime the financial position ol the charity and enab18 them to ensure that Ihe linancial slatemenls comply wilh lh9 Charities Act 2011 , the Charity {Accounls and Reports) Regulations 2008 and the provlsions ol the Irusl deed. They are also responsible for safeguarding the assets ol the charity and hence for laking reasonable steps for the prevention and detection ol fraud and other irregularities.
CORLEY VILLAGE HALL ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CORLEY VILLAGE HALL I report to the twstees on my examination ol the financial statements of Corley Village Hall, (the charity) lor the year ended 30 Septembèr 2024. R68ponslbllltles and basls ol report As the tnJstees of Ihe charity you are responsible lor the preparab'on of the financial statements in aGcordance with the r8quirements ol the Charities Act 2011 {the 2011 Act). I report in respect ol my examinabon of the charty's hnancial staternents carried out under section 145 of the 2011 Act. In carrying oul my examination I have followèd all th8 applicable Directions glvèn by the Charity Commission under section 145{5llb} of the 2011 Acl. Independent examlner'$ $talemenl Your attention is drawn lo Ihe tact Ihat the Ghartly has prepared financial stalemenls In aeKordan¢e with Accounting and Reporting by Charities preparing their accounts in arxordance wilh the Financial Reporting Standard applicable in th8 UK and ReputrAic of Ir81and (FRS 102) in pr8f8r8nce to th8 Accounting and R8POrting by Charitl8s' Slal8menl of Recommended Practice issued on 1 April 2005 which is referred lo in the extanl regulations but has now been withdrawn. l understand that Ihis has been done in order for financid statements to provide a Irue and fair view In accordance wilh Generally Accepted Accounting Practice effeclive for roporting riOdS baginning on oi after 1 January 2015. I have completed my examinalion. I conlirm that no matters have come to my attenlion in connection with the examinalion giving me cause lo believe Ihal in any material resp8cI'. accounting records were nol kept in respect of the charity as required by s8Ction 130 of the 2011 Act; or the financial slatemenls do not accord with those records,. or the financial statements do not CoMY wtlh th6 al¢able roquiremenls conceming the form and content of accounts set out in the Charities {A¢¢ounts and Reports) Regulations 2008 other Ihan any requirement that the accounts give a true and lair view which is not a matter ¢Sidered as part of an independent examinaiion. I have no concerns and have come across no othèr matters in ¢onne¢lion with tha 8xaminalion lo which attention ould be drawn In this report in order to enable a proper understandlng ot Ihe flnan¢lal stalements to be r8ached. n Chapman FCC Chapman & Co Chartered Certlfled Accountants 28 Delaware Road styvechale Covorrtry CV3 6LX Dated.. IL rxJ)KJCfrThGW loly
CORLEY VILLAGE HALL ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unreslricted Restricted funds lund$ 21r24 2024 Totsl Unrestr6cted Restricted funds funds 2023 2023 Total Not89 Income Irom: Donations and egacies Charitable aclivilies Otherlrading activities 12,762 20.122 12,762 20.122 13.707 17,448 13,707 17,448 5,040 5,040 4,227 4.227 Tolal Income 37,924 37.924 35,382 35.382 urèo Charitable a¢livilies 28,103 28.103 19,403 7,111 26,514 N81 Incomlngl(outgotng) resources before Iranslers 9.821 9,821 15.979 {7,111} 8,868 Gross transfers beeen funds (3,111} 3.111 13,1111 Net Incomel(expenditure) for the yearl Nel movement In fund3 9.821 9.821 12.868 14.000) 8,868 Fund balances al 1 Oclober 20YJ 155,406 70.722 226,128 142,538 74.722 217.260 Fund balances at 30 September 2024 165,227 70,722 235,949 155,406 70,722 22S,128 The statement ol financi actNities includes all gains and losses recognised in the year. All income and expenditure derive from continuing athiviiies.
CORLEY VILLAGE HALL ASSOCIATION BALANCE SHEET AS A T30 SEPTEMBER 2024 2024 2023 Notes Flxed assets Tangitle assèts 11 138,803 138,803 Current assets Cash al bank and in hand 97.146 87.325 Net current assets 97,146 87,325 Total as$el$ less current Ilabllltles 235,949 226,128 Incom8 funds Restricted funds Unrestricted funds 70,722 165,227 70.722 155,406 235.949 226,128 Th8 tinancial statements Vre approved by the Trustees on I q NJXJ Cod., R Oakes Tru$to0 E Bradford Trusiee
CORLEY VILLAGE HALL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies Charity information Corley Village Hall, is a unincorporated charity gov8rn6d by its dedaration of trust dat8d 17th March 1964 1.1 Accountlng ¢onvenllon The linancial stat6ments have been prepaied in accordance with the charity's Igoverning documentl, the Charities Act 2011, FRS 102 'The Financiai Reporting Standard applicat8 in the UK and Republic of Ireland- I'FRS 102"} and th8 Charili8s SORP "Accounting and ReFQrting by Charities.. Slat9menl ol Recommended Practice applicable lo chariti8s preparing their accounts in accordance wilh the Financial Reporting Standard apr4icatJe in the UK and R8public of Ireland (FRS 102}" {effective 1 January 2019}. The charity is a Publi¢ Benefit Entily as defined by FRS 102. The charity has taken advantage of the provlslons In the SORP for charilies not lo prepare a Statement of Cash Flows. The financial statements have departed from Ihg Charilles {Accounts and Reports) Regulatlons 2008 only lo the extent required lo provide a Inje and fair view. This departure has involved following ihe Slalemenl of Recommended Practice lor charities apyIng FRS 102 rather ihan the version ol the Statement of Recommended Practi which is relerred lo in the Regulations but which has since been withdrawn. The financial stalements are prepared in sterling, which is the ftjnctionaj currency of the charity. Monetary amounts in these linancial statements are rounded lo the nearest £. The financial slalemènts have bgen Pfepared under the hislorical cost convention. Imodified to indude tha revaluation of freehold propertles and to include investment properties and certain financlal instruments al lair valuel. The principal accounting policies adopied arè sel out below. 1.2 Golng concern These financial statements are prepared on the going concern basis. The Irustees have a r8asonable expectation that Ihe charity wlll continue in operational existence foi the foreseeable future. 1.3 Charilable lunds Unrestricted funds are available for use al Ihe discretion ol the Irusiees in furtherance of their charitable objectives. Restricted funds a subjeth to specific conditions by dorK>rs as to how they may be used. The purposes and usas ol the restricted funds are sel out in the notes lo the financial statements. Endowmenl lunds arè subject lo specific condttions by donors that the capltal musl be malntaSned by the charty. 1.4 Income Income is recognised when the charity is legally entilled to il after any perfomance conditions have been mel. the amounts can be measured reliably. and it is probable that income wlll be received. Cash donations are recognised on receipl. Other donations are recognised once the Charity has been notified ol the donation, unless performance conditions require deferral of Ihe aOunt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipl or otherwise if Ihe charity has been notified of an impending dislribLrtion. the amount is known. and receipt is expected. If the amount is not known, the legacy Is trealed as a contingent asset.
CORLEY VILLAGE HALL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Ac¢ountlng pollcles {Conllnued) 1.5 Expenditure All expendilure is accounted for on an accruals basis artl has been classified under headings that aggregate all cosls related to the calegory. Exp8nditure 15 recognised where Ihere is a legal or Gonstructive obligation to make payments to Ihird parties, it is probate Ihat the settlement will be required and the amount of the obligation can be measured reliably. The Resources expended are allocated to the particular acllvlty where the cost relale directly to that actlvSty. Where costs ara attributable lo more than onè activity. thay have been apportionod across the cosls categories on a basis consistenl with the use ol these resources. 1.6 Tanglble flxed assets Tangible fixed assets are inilially measured at cost and subsequentty measured al cost or valualion, net of depreciation and any impairment losses. Depreciation Is recognised so as lo write off the cost or valuation of assels less their residual vdues over their uselul lives on the following bases: Freehold land and buildirvJs The gain or loss arising on th8 disposal of an asset Is determined as the difference between the sale proceeds and the carrying value of the asset. and is Tecognisgd in the slalemenl ol financial aclivitl8S. 1.7 Impalrment of flxed assets At each reporting end date, the charity reviews the carrying amounts of its tangibl8 assets lo determin8 whether there is any irKlicalion that those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset 18 estimated in order to delemiine the extenl of the impairment loss lif any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand. deposits held al c1 wilh banks, other short-tem liquid investments with original maturilies ol thre8 months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Ba51c flnanclal assets Basic financial assets. which indude debtors and cash and bank balances. are inilially measured at Iransaciion price including transaction costs and are subsequently carried al amortised cost using ihe affective interesl method unless Ihe arrangement conslilutes a financing transaction, where the transaction is measured al Ihe present value ol the fulure receipts discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortiS8d. Basic linanclal Ilabilities Basic financial liabilities, induding creditors and bank loans are initially recognised at transaction price unless the arrangement constilules a linancing transaction, where Ihe debl instrument is measured at the present value of the futurè payments discount8d al a mark&1 rale ol inter8st. Financid liabilities classili&d as payable within one year are not amortised. D8bt inslrumerbts are subsequently carried at amortiS8d cost, using the efleclive inlèresl rate method. Trade creditors are obligations lo pay for goods or seNces that have been acquired in the ordinary course of operations from suppliers. Amounts payable ara classified as current liabilitl8s il paymenl is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortis&J $t using the eflective interest method.
CORLEYVILLAGE HALL ASSOCIATION NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting pollcles (Contlnued) Derecognltion of Ilnanclal Ilabllltles Financial liabilities arè der8cognis8d when the charity's contractual obligations expire or are discharged or cancelled. 1.9 Employee beneflls The cosl of any unused hollday entillement is recognlsed In the period in whtch the employee's services are received. Termination benefits are recognised immediately as an expense when the charity Is dernonstrably committed lo terminate Ihe employment ol an employee 01 to provide termination benefits. Crltlcal accounllng estlmates and ludgements In the application ol the charity's accounting policies, the truslces are required to make judgements, estimates and assumptions about the carrying amounl of assels and liabililies that are not readily apparenl from oth&r sources. The eslimales and associalèd assumptions arg based on historical axpèriance and olh8r laclors that are considered lo be relevant. Actual resulls may differ from these estimates. The estimaies arKI underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which th8 estimate is revised where the revision affects only that period, or in the period ol Ihe revision and future periods where the revision affects both current and future periods. Donatlonsand legacles Unrestricted fund8 UnlrIcted Restrlcted fund8 lund8 Total 2023 2023 Donations and grfts Government grant 12,762 11,707 2,000 11,707 2,000 12,762 13,707 13,707 Charftable aclbvltles Charitsblo Charltsble Income Income 2024 2023 Hall Hire Sdar Panels 18,295 1,827 14,877 2,571 20,122 17,448
CORLEY VILLAGE HALL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Other tradlng acllvllles Unrestrlcted Unrestrlcted funds fund8 2024 2023 Fundraising events 5.040 4.227 Charltable actlvltles Charitsble Charitablo Expendlture Expendlture 2024 Licences 403 207 403 207 Share ol support costs (see note n 27,700 26,307 27.700 26,514 Analy818 by lund Unreslricled lunds Reslrieted funds 28,103 19,403 7,111 28,103 26,514 10-
CORLEYVILLAGE HALL ASSOCIATION NOTES TO THE FINANCIAL STATEmErs (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Support ¢osts Support Governance costs 2024 Support Gov8rnance costs CO8t8 2023 Caretakerfs Wages Waler rates Heal and lighl Insurance Repairs Cleanlng Sundry Bank charg8S Legal and professional Accounting PPS & Advertising 2.813 441 2.852 1,297 16.186 1.024 2,813 441 2,852 1,297 16,186 1,024 691 2,533 1,386 17,545 1.077 497 164 827 691 2,533 1,386 17,545 1,077 497 181 181 827 662 662 137 137 27,700 27.700 26,307 26,307 Analysed between Charllable activilies 27,7¢XI 27.700 26,307 26,307 Trustee8 None of Ihe truslees (or any persons connected wtth Iheml received any remuneration or benefits from th8 charity during the year. Employees The average monthly number of emFloyees during the year was: 2024 Number 2023 Number Employment costs 2024 2023 Wages and salaries 2.843 2,813 There were no employees vthose annual remuneration was more than £60,000. 10 Taxation The charity is exempt froffl tax on income and gains Iling within s'on 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Acl 199210 the exlenl Ihat these are applied to ils charitable objects.
CORLEY VILLAGE HALL ASSOCIATION NOTES TO THE FINANCIAL STATEmErs (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 11 Tanglble flxed assets Freehold l•nd gnd bulldlTrJ¥ Cost At 1 October 2023 138,803 At 30 September 2024 138,803 Carrying amount AI 30 September 2024 138,803 AI 30 September 20¥3 138,803 12 Analysis ol net assels belween funds Unrnslricled Restrlcted lunds lunds 2024 2024 Total Unrestricted Restrlcted funds funds 2023 2023 Total 2024 2023 Fund balances al 30 September 2023 are represented by: TanglIe assets Current ass&ls Iliabilities) 68,081 97,146 70,722 138.803 97.146 68,081 87,325 70,722- 138,803 87,325 165,227 70,722 ¥J5,949 155,406 70.722- 226,128 13 Related party transacllon8 There were no disdosable related party transactions during Ihe year12023 - none). 12-