CHARITY REGISTRATION NUMBER: SC009253 Middleton Village Community Hall Association Financial Statements 31 March 2025 ACCOUNTING AND TAXATION SERVICE Institute of Financial Accountants 29 Whitehill Village Dalkeith EH22 2QD Middleton Village Community Hall Association Financial Statements Year ended 31 March 2025 Page Trustee's annual report Statement of financial activities Statement of financial position Notes to the financial statements Middleton Village Community Hall Association Trustee's Annual Report Year ended 31 March 2025 The tiuslee presents her report and the financial statements of the charity for the year ended 31 March 2025. Reference and admlnistrative details Registered charity name Middleton Village Community Hall Association Charity registration number SC009253 Principal office The trustee Accountants Accounting and Taxation Service I nstilute of Financial Accountants 29 Whilehill Villagé Dalkeith EH22 2QD Structure, govemance and rnanagement Governing Document - Constitution Trustee Recruilmenl and appointment Trustees are elected and appointed by the members of the Executive Committee as laid out in the constilution ObJectlve8 and actlvltles Chariteble Purpose.. To secure the establishrnent, maintenance and managetnenl of a Village Hall for the beneflt ol the residents in the local area, withput discrimination on political, religious or other grounds, by provio1ing f8cilitie5 for education, social welfare and recreation, with the object of improving the quality of life for persons residing in the area and particularly for those in special need of such facilitie5 by reason of age, youth and other circumstan¢e3. Main Activities Letting of main hall & rneeting room lo various local community groups Provision of kitchen & bar facilities for catering events, including band nights, weddings and an annual gala day Middleton Village Community Hall Association Trustoo's Annual Report (continued) Year ended 31 March 2025 Achiovements and performance We have succeeded in letting the main hall and meeting room to various local community groups and individuals and aim lo increase th8 occasions Financial review The trustees consider that the main aim should be for unreslricled reserves of at least 3-6 months running costs to allow the charity to operate from year to year. The trustees are committed to continuing to add to the level The trusteè's annual report was approved on 16 September 2025 and signed on behalf of the board of trustees by: Middleton Village Community Hall Association Statement of Financial Activities Year ended 31 March 2025 2025 Restricted funds Total funds Total funds 2024 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities Other trading activities Total income 4,725 12,745 33,931 51,401 4,725 12,745 33,931 1,900 9,368 38,150 51,401 49,418 Expenditure Expenditure on raising funds.. Costs of raising donations and legacies Total expenditure 49,124 49,124 49,125 49,125 54,839 54,839 Net incomel(expenditure) and net movement in funds 2,277 2,276 15,421) Reconciliation of funds Total funds brought forward Total funds carried forward 11,853 14,130 395,390 395,390 407,243 409,520 412,664 417,182 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 5 to 10 form part of these financial statements. Middleton Village Community Hall Association Statomont of Financial Position 31 March 2025 2025 2024 Noto Flxed a8S8ts Tangible fixed assets 10 398,353 3g8,353 Current assets Cash al bank and in hand 12,042 9.766 Creditors: amounts falling due within one year Net current assets 11 876 876 11,186 8,890 Total assats less currant Ilabllitles 409,519 407.243 Net assets 409,519 407,243 Funds of th8 charity Reslricled fund Unrestricted funds 395,390 14,130 395.390 21.792 Total charity funds 12 409,520 417,182 These financial slatem&nls were approved by the board of trustees and authorised for issue on 16 Seplernber 2025. and 2re signod on behalf of the board by.. Titsbl¢¢ The notgs on pagès S to 10 form part of these financial statements. Middleton Village Community Hall Association Notes to the Financial Statements Year ended 31 March 2025 General Informatlon The charity is a public benefit entity and a re The address of +he principal office is Islei eo ch&ril in sco-.land and is unincorporalcd. Statgmont of ¢omplian¢o These financial statèments have been prepared in compliance with FRS 102. 'The Financial Rèporting Standard applicable in the UK and the Republic of Ireland,, the Slalement of Recommended Practic& applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard 8pplicable in the UK and RepLtblic of Ireland {FRS 102) {Charities SORP IFRS 102)) and the Charities and Trustee Investment Iscolland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 las amended). Accounting policies Basls of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and Investment propertles measured ai falr value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are nc material unc?rtainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial st8tements requires managernent lo make judgements, estirnates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Des19naled funds are unrestricted funds earmarked by the trustee for parlicular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, end fall into one of sub-clas3e8'. restricted income funds or endowment funds. Middleton Village Community Hall Association Notes to the Financial Statements (continued) Year ended 31 March 2025 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred, Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 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. Middleton Village Community Hall Association Notes to the Financial Ststements (continued) Year ended 31 March 2025 Accounting policies (continued) Tangible assets (continued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. 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-generaling units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Flnancial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured al cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Middleton Village Community Hall Association Notes to the Financial Statements (continued) Year ended 31 March 2025 Accounting policies (continuedj Financial instruments (continued) Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For a51 equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations Donations type 1 425 425 780 780 Grants Grants receivable type 1 4,300 4,300 4,725 1,120 1,120 1,900 4,725 1,900 Charltable actSvlties Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Other income from charitable activities type 1 12,745 12,745 9,368 9,388 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Other income from other trading activities type 1 Other income from other trading activities type 2 30,227 30,227 33,466 33,466 3,704 3,704 33,931 4,684 4,684 33,931 38,150 38,150 Middleton Village Community Hall Association Notes to the Financial Statements (continued) Year ended 31 March 2025 Costs of raising donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Costs of raising donations and legacies Other type 1 49,124 49,125 44,900 54,839 staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2025 2024 The average head count of employees during the year was Nil (2024.. Nil}. No employee received employee benefits of more than £80,000 during the year12024'. Nil}. Trustee remuneratlon and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees 10. Tangible fixed assets Land and Fixtures and buildings fittings Total Cost At 1 Aprll 2024 and 31 March 2025 Depreciation At 1 April 2024 and 31 March 2025 Carrying amount At 31 March 2025 395,390 2,963 398,353 395,390 2,963 398,353 398,353 At 31 March 2024 395,390 2,963 11. Creditors: amounts falling due within one year 2025 2024 Accruals and deferred income 876 876 Middleton Village Community Hall Association Notes to the Financial Ststements (continued) Year ended 31 March 2025 12. Analysis of charitable funds Unrestricted funds At 31 March 202 At 1 April 2024 Income Expenditure General funds 11,853 51,401 {49,124) 14,130 At 31 March 202 At 1 April 2023 Income Expenditure General funds 17,274 49,418 {44,9001 21,792 Restricted funds At 31 March 202 At 1 April 2024 Income Expenditure Restricted fund 11 desc in alcs 395,390 395,390 At 31 March 202 At 1 April 2023 Income Expenditure Restricted fund 11 desc in alcs 395,390 395,390 10-