Charity reglstration numbor 900597 THAME BARNS CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THAME BARNS CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees M Baines K Clark G Clayton D Dodds R Gibson A Mcculloch A Mitchell A Sturdy D Gurney (Appointed 18 May 2023) (Appointed 17 July 2023) (Appointed 29 August 2023) (Appointed 1 July 2023) (Appointed 7 February 2024) Charlty number 900597 Independent examiner Richardsons 30 Upper High Street Thame Oxfordshire OX9 3EZ
THAME BARNS CENTRE CONTENTS Pago Ttustees, report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 6-12
THAME BARNS CENTRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Number 900597 Prlncipal Address Church Road Thame Oxfordshire OX9 3KJ The flnanclal statements have b8en prepared in accordan with th8 accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities pparIng their accounts in accordance with the Financial Reporting Standard applicable in the UK and R8public of Ireland (FRS 102). (effective 1 January 2019). Objectlves and activitles Thame Bams Centre was establlshed as a charity by lease and Trust Deed dated 21st May 1990 made between Thame Town Council and the Diocesan Twstees ( Oxford ) Limited. The PCC of the Parish of Thame and the trustees appolnted at that time. The object of the centre was and still is to provide a communty facility for the people of Thame and districL The origin81 lease expired in May 2011 and a new lease of 12 years duration came into effect in December 2011. Achievements and perfomiance The Barns Centre is a focal point for the town providing facilities for people of all ages and 8cros5 all sections of the community. The Goveming Body sees th8ir responsibilities as being to encourage use of th8 centr8 by th8 local community whilst ensurlng that the facilities at the centre are maintained to a high standard . In addition the Governing Body has a responsibility to make the centre a commercial success with any surpluses accruing in a year being reinvested in the centre. In this context the Goveming Body had been mindfvl of the Charity Commission's guidance on public benefit and ensured that the Thame Bams Centre continued to have facilities available for use by the whole community for meetings, parties and oth8r r8creational actlvltles th spe¢ifi¢ provision made for local groups vthlch work with the disabled, elderly and disadvantsged. The day to day running of the centre has been undertaken by the Joint Centre Managers - Patsy Feighoney until 30th June, Mandy Mitchell from 1st July and Karen Clark for the whole year - supported by a team of part tim8 and casual staff, with the latter assisting in providing catering and serving duties at the many functions held at the Bams Centre. In addition to the functions. there are regular and occasional hiring of the various rooms at the centre. The trustees would like to place on record their appreciation of all the work undertaken by the Joint Centre Managers and their support staff. Financial revlew During 2023124. income from functions and room hire has increased from £149,609 in 2022123 to £183,790 in the current year. an increase of £34,181. Other income in the year (for example from interest on investments) totalled £9,358 (£4,341 in 2022123 however this was mostly from interest). The net surplus for th8 current year was £22.128. compared with net deficit in the previous year of £4,476. Dursng the year capital expenditure was £3,948 (31st March 2023 £10,269). As at 31st March 2024, the closlng bank balance was £393,787 (31st March 2023 £372.538). The charity alms to hold atleast 2 months of expenditure in res8rv8s at any point in time. This is equal to around £30,000.
THAME BARNS CENTRE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structurei governance and management The charlty is govemed by its goveming document. a deed of trust. and constitutes an unincorporated charity. Recrultment and appointment of new trustees Thame Town Council and St. Mary's Church each have three trustee representatives on the Governing Body (including the Town Clerk and the Vicar of St. Marls Church respectively) and in th8 first instanc8 such trustee representatives would have their appointment proposed and endorsed at a formal meeting of the Town Council in the case of a Thame Town Council member and at a Parochial Church Council meeting in the (xse of a St. Marrfs Church nominee. The final member of the Goveming Body is the Treasurer who need not be a member of either of the two bodies and would be appointed by the Goveming Body as and when a vacancy arises. All trustee appointments have to be approved at the subsequent Annual General Meeting of the Thame Bams Centre. Risk Management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Trustees M Baines K Clark G claOn D Dodds M Deacock R Gibson T Haley A Mcculloch A Mitchell M Reading A Sturdy G Taylor D Gumey (Appointed 18 May 2023) (Appointed 17 July 2023) (Resigned 16 May 2023) (Resigned 7 February 2024) (Appointed 29 August 2023) (Appointed 1 July 2023) (Resigned 1 Aprll 2023) (Resigned 1 April 2023) (Njpolnted 7 February 2024) The truste eport was approved by the Board of Twstees. R Glbson Trustee
THAME BARNS CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THAME BARNS CENTRE I report to the trustees on my examination of the financial statements of Thame Bams Centre (the charity) for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial ststements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charitys financlal statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Dir8Ctions giv8n by the Charity Commission under section 145(5){b) of the 2011 Act. Independent examlnerfs statement I have completed my examination. I confirm thal no matters have come to my attention in connection with the examination giving me cause to believe that in any matertal respect: accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act" or the financial ststements do not accord with those records. or the financial statements do not comply with the applicable requlrements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regul8b'ons 2008 other than any requirement that the accounts give a true and fair view whlch Is nol a matt8r consid8red as part of an ind8P8nd8nt examination. I have no concems 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 Ihe financial ststements to be reached. Rachel Porter ACA MAAT Richardsons 30 Upper High Street Thame Oxfordshire OX9 3EZ
THAME BARNS CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Totsl 2023 Notes Income and endowments from: Charitable act5Vities Investments Other income 183,790 6.531 2.827 149,609 3,319 1,022 Total Income 193,148 153,950 nditure on: Charitable activities 171.020 158.426 Net incomel(expendlture) for the yearl Net movement In funds 22.128 (4.476} Fund balances at 1 Aprfl 2023 400.052 404.528 Fund balances at 31 March 2024 422,180 400.052 The statement of financial adivities includes all gains and losses recognised in the year. The statement of financial actiwties includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
THAME BARNS CENTRE BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets 11 21,267 27.045 Current assets Debtors Cash at bank and in hand 12 18.370 393,787 15.775 372,538 412,157 388.313 Credltors.. amounts falling duo within one year 13 {11,244) (15,306) Net eurrent assets 400.913 373,007 Totsl assets le$¥ current liabilities 422,180 400,052 Net assets 422,180 400,052 The funds of the charlty Unrestricted funds 422.180 400.052 422,180 400,052 The fi ncial statements were approved by the trustees on ... R Gibson Trustee
THAME BARNS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Charfty Infomiatlon Thame Bams Centre was established as a charity by lease and Trust Deed dated 21 May 1990 made beeen Thame Town Council and the Diocesan Trustees (Oxford) Limited, The PCC of the Parish of Thame. and the Trustees appointed at that time. The principal address Ss Thame Bams Centre. Church Road. Tham8. Oxfordshire. OX9 3AJ. 1.1 Accountlng conventlon The financial ststements have been prepared in accordan with the charitys Trust Deed, the Charities Act 2011 and "Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th8 UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial st8teTnents have departed from the Charities (Accounts and Reports) Regulations 2008 only to Ihe extent required to provide a true and fair view. This departure has involved following the Stalement of Recommended Practice for charities applying FRS 102 rather than the version of the Ststement of Recommended Practice which is referred to in the Regulations but vthich has since been withdrawn. The financial ststements are prepared in sterling. Ythich is the functional currency of the charity. Monetsry amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historFcal cost convention. The prlncipal accounting policies adopted are set out below. 1.2 Going concern At the lime of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational 8$tance for the for8s88able futur8. Thus th8 trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charftable funds Unrestricted funds are available for use at the discretlon of the trustees in furtherance of their diaritable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to speafic conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been me( the amounts can be measured reliably, and it is probab18 that income will be received. Cash donations are recognised on receipt. other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenanl is recognised at the time of the donation. Legacies are recognised on receipt or otheiSe if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount Is not known. the legacy is treated as a contingent asset.
THAME BARNS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ountlng pollcles (Continued) Tumover is measured at the fair value of the consideration reiVed or reiv8b[e and represents amounts receivable for goods and services provided In the nomial course of business, net of discounts, VAT and other sales related taxes. In the case of weddings, room hire is invoiced at the time of booking and is recognised in creditors. This is then recognised as incoming resources when the function is held. 1.5 Expenditure Liabilities are recognised as expenditure as soon as th8re is a legal or constructtve obligation committing the charty to that expenditure. it is probable that a transfer of economic benefits TrMII be required in settlement and Ihe amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis inclusive of VAT where this cannot be reclaimed and has been classified under headings that aggregate a15 cost related to the category. Where costs can not be directly attributed to particular headings they have been allocated to actIvIeS on a basis consistent with the use of resources. 1.6 Tangibte fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their SIdual values over their useful lives on the following bases: Fixtures and fittings Computers 15Vo Straight line ba51S 150h straight line basis The gain or loss arising on the disposal of an asset is detemiined Ss the difference between the sale proceeds and the carying value of the asset, and is recognised in the statement of financial activities. 1.7 Impalrment of fixed assets At each reporting end date. the charity reviews the carylng amounts of its tangibl8 assets to detemiine whether there is any indication that those asset5 have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient k)ss (If any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charity has elected to apply Ihe provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financi81 Instruments Issues, of FRS 102 to all of its financlal instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
THAME BARNS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (Continued) Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carrFed at amortised cost uslng the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future recelpts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic finan¢lal Ilabllltles Basic f nancial liabilities, including creditors and bank loans are initially recognlsed at transaction pri unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable wlthln one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or seNices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as n0n-cuent liabilities. Trade creditors are recognised Inttially at transaction price and subsequently measured at amortised cost using the effedive Inte$t method. Derecognition of financial liabilities Financial liabilities are derecognised when the charivs contractual obligations expire or are discharged or cancelled. 1.10 Employee beneflts The cost of any unused holiday 8ntitlem8nt is recognised in the period in which th8 8mploye8'S S8NiC8s ar8 r4ved. Termination benefits are recognised immediately as an 8xpens8 vth8n the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.11 PensSon costs and other postwrntlrement benefits The Charity operates a defined contribution pension scheme. Contributions payable to the charstvs pension stheme are charged to the Statement of Financial Activities in the period to which they relate. 1.12 Government grants Govemment grants are recognised at the fair value of the asset received or receivable when there is reasonable a8surance that the grant conditions will be met and the grants will be received. A grant Ihat specifies performance conditions is recognised in income when the perfomiance conditions are met. Where a grant does not specify perfomiance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognrtion criteria are satisfiéd is r8cognised as a
THAME BARNS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Crftical accountlng estlmates and judgements In th8 application of the charitys accounting policies. the trustees ar8 required to mak8 judgements, estimates an(f assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be r818vant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revlsions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that perfod. or in the period of the revision and future periods where thé revision affects both current and future periods. Income from charltable actlvltles Unrestricted funds 2024 Unrostricted funds 2023 Sales wlthln charitable activitl•s Sale of goods 183.790 149,609 Investments 2024 2023 Interest receivable 6.531 3,319 Other Income 2024 2023 Government grants 2,827 1.022
THAME BARNS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable actlvltles 2024 2023 Depreciation and impairment Wages Employers Nl Pensions Insurance and licenses Light and heat Telephone Sundry Catering and bar Maintenance and renewals Cleaning Water Waste disposal Management and administration Training Independent Examinevs fee 9,723 83.960 31)4 2,114 4,606 16.950 693 10,890 19,308 10,950 695 476 612 7.263 726 1.750 9.850 86,802 2,403 4,728 9.170 751 4,982 17,846 7,268 505 1,500 1.704 7.610 815 1.650 171,020 158,426 171,020 158.426 Analysis by fund Unrestricted funds 171.020 171,020 For the year ended 31 March 2023 Unrestricted funds 158,426 158.426 Net movement In funds 2024 2023 The net movement in funds is stated after chargingl(crediting)'. Depreciation of owned tangible fixed assets 9,723 9.850 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. 10-
THAME BARNS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number 11 12 There were no empkiyees whose annual remuneration was more than £60,000. 10 Taxatlon The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 11 Tangible flxed assets Flxtures and Computers fittingi Total Cost At 1 April 2023 Additions 223,060 2,171 2.732 1,777 225.792 3,948 At 31 March 2024 225.231 4,509 229,740 Depreciation and Impaimient At 1 April 2023 Depreciation charged in the year 196.544 9.124 2,206 599 198,750 9,723 At 31 March 2024 205,668 2,805 208,473 Carrying amount At 31 March 2024 19,563 1,704 21.267 At 31 March 2023 26,518 527 27.045 12 Debtors 2024 2023 Amounts falling due wlthin one year: Trade debtors Other d8btors Prepayments and accrued income 16,935 257 1,178 14,528 183 1.064 18,370 15.775 11
THAME BARNS CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Creditors: amounts falllng due wlthln one year 2024 2023 Other taxation and social security Trade creditors Other creditors A¢¢ruals and d8f8rred income 2,610 2,762 2,697 3.175 3,147 2,801 6,208 3,150 11.244 15,306 14 Unrestrfcled funds The unrestricted fund5 of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. Thes8 indude designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 Aprll 2023 Incomlng Resources At 31 March resources expended 2024 General funds 400.052 193.148 (171.020) 422,180 Previous year: At 1 April 2022 Incomlng resources Resources At 31 March expanded 2023 General funds 404,528 153,960 (158,426) 400,052 15 Related party transactions There were no disclosable related paty transactions during the year (2023 - none). 12-