Shipham Village Hall Accounts 2015

Shipham Village Hall Trust

Report of the Trustees

for the year ended 30

June 2015

Page 1 of 3 Report of the Trustees The Trust

The Trust was established by Deed in 1975 and is registered with the Charity Commission: No_{.270556. Modifications to the rules in the Deed were registered in 2003, 2005, and 2007.}

Charitable Objective

The Trust’s charitable objective is to provide community hall facilities for the use and benefit of the inhabitants of and organisations within the parish of Shipham.

Governance and day to day management

The Trust is administered by a Council of Trustees elected annually either by parishioners at the Trust’s AGM or by village organisations with the right to trustee representation on the Council. A Management Committee is elected from these trustees to oversee daily operation of the hall. The Trust Deed lays down the powers governing the Council and instructs that premises are kept in good repair and insured against fire, theft, public liability and other insurable risks.

The representative membership of the Council has changed since the inception of the Trust. 7 of the original 14 village organisations have lost the right to representation by failing to reappoint a representative for more than two consecutive years. 9 new village organisations and a co-opted member have been added (all annotated * below). The Council now comprises 25 Trustees.

The Trustees at the date of this report were:

Independent Trustees - elected annually by parishioners at the AGM of the Trust

Representative Trustees - elected at the AGMs of the respective village organisations

Co-opted member

John Popham Shipham Parish Council*

Management Committee

David Worker (Chairman) Ray Burgess Ken Chalk Tony Davies Peter Downing Paul Edwards Helen Ingleby Sally Hansford John Moorhouse Co-opted members: Tony Packer (Hall Manager) Stephen Foster

David Worker Tony Davies Ken Chalk Peter Downing Paul Edwards Ian Firth John Moorhouse Keith Scanlon

Mel Edmunds Friends of Shipham School * Maggie Fiske-Jackson Rowberrow PCC

Kate Baldock Save the Children Lunches*

Elizabeth Palmer Shipham Active Living Group* Jeff Brewster Shipham Badminton Group* Jane Sanders Shipham Cinema Club* Ian Sutton Shipham Friendship Circle Brenda Moorhouse Shipham Gardening Club Sally Hansford Shipham Guides & Brownies Ray Burgess Shipham History Society *

Molly Hitchcock Shipham Parent and Toddler Group* Nigel Mallett Shipham PCC

Jane Dawes Shipham Players*

Helen Stickland Shipham, Rowberrow & Star Women’s Institute Helen Ingleby Shipham Scouts and Cubs

Shipham Village Hall Trust

Report of the Trustees

for the year ended 30

June 2015

Page 2 of 3 Report of the Trustees Contact information

Communications in the first instance, except for bookings, should be addressed to the Secretary. The principal officers, and their respective contact information, are:

Chairman:

Mr B D H Worker Eastmead Farm Cheddarcombe Lane Star

BS25 1QD

Tel: 01934 843425

Hon. Secretary:

Mr N A Davies Callow Cottage Cuck Hill Shipham BS25 1RD

Tel: 01934 843951

Hon. Treasurer:

Mr K S Chalk Hilltop Meadow Cuck Hill Shipham BS25 1RB

Tel: 01934 844191

To contact our Bookings clerk, Shelley Frost, use our dedicated phone (01173 182357) or e-mail ([email protected]) for information on availability or other booking enquiries.

Public Benefit

Interest in the Hall is stimulated by word of mouth, listing in local free periodicals, links on the community web site www.somersetrcc.org.uk and our web site www.shiphamhall.co.uk.

The Hall continues to be well used by villagers and those from outside the village, enhancing the social wellbeing of the village and its neighbours. We accept bookings from any applicant provided specified rooms requested are not already booked when required and subject to our terms and conditions of hire. No exclusions are applied based on residence, persuasion or opinion.

Regular activities are published on our web site and notice boards. These include many established village organisations and a wide variety of dance and keep fit groups. Organisations of all categories appear to be thriving, particularly those arranged for children. The Hall is a popular venue for parties, anniversary celebrations, weddings, and charity fund raisers.

The Premises

The building was completed to a high standard in 2005 and has since benefited from additions and upgrading of both equipment and external areas as funds became available. An extension to provide additional storage was completed during 2013 and was in full use by January 2014. Hirers may select the whole building or any of the following areas individually, or in combination:

 a large spacious main hall with well-equipped stage, cinema standard projection and sound

 a large kitchen, built and fitted out to a commercial standard

 a convivial meeting room with its own kitchenette that is ideal for group meetings

 a small club/conference/committee room, that has its own toilet facilities and converts into a bar area off the main hall for larger events

All three rooms have individual hearing loop systems, projection and audio systems, and broadband and Wi- Fi is available throughout the hall. There is parking for at least 60 cars.

Reserves Policy

The Management Committee must ensure that funds are always available to meet any regular payments due. It undertakes periodic assessments to determine the level of funds needed when equipment replacements are due and when work is required to maintain the high standards of the premises. This is calculated by:

 Reassessing the life of assets to determine an approximate value of those requiring replacement each year duringthe following 4 or 5 years

 Assessing the impact on cost of inflation or other changes from technological improvement

 Assessing costs of replacing or renovating equipment were there is no depreciation provision

 Identifying and evaluating the costs of renovating the building fabric and grounds

Shipham Village Hall Trust

Report of the Trustees

for the year ended 30

June 2015

Page 3 of 3 Report of the Trustees Accounts to 30 June 2015

Due to an exceptional level of repairs during the year the combined operating expenses and depreciation of equipment were not fully covered by the income received.

Hire income was similar to that in the previous year at £28,725. Solar energy income increased again with the extra half year’s income from the third system and exceptionally good weather during peak generation months. It is estimated that savings on electricity are circa £500 in a full year compared to pre-installation levels.

Repairs and maintenance were considerably more than the normal budget with more expensive repairs required under most headings. This is mainly due to the increasing age of the assets. A detailed analysis is provided in note 8 of the attached statement of finances.

Under our depreciation policy the values of equipment are written down over their minimum expected life to provide funds for their eventual replacement when needed. For simplicity the

expected life selected for an item is now either 5 or 10 years, with the exception of the solar panels that have an expected life of 20 years.

Premises cost includes “landlord fixtures” and the cost of premises is not depreciated. However, replacements of major equipment included in the original building cost are now added in equipment. These are written down as above.

The final shortfall of income after deducting all charges and including all income was £1,755, reducing the general reserves to £605,132.

By 30 June 2015 the total of all fixed assets at cost, including land, were £660,112.

The indexed valuation of the premises at the time of the insurance renewal in December 2015 was £873,215. This revaluation compares with historic building costs of £501,627 plus £58,384 of fixtures and fittings insured under the heading of premises.

Net current assets increased to £41,111 with the transfer of £11,799, for the maturing fixed term account with Julian Hodge Bank Limited, into funds that are available within 12 months. The total is considered adequate to meet the Trust’s on-going commitments and renovation or replacement of equipment that may become necessary in the next few years.

The Current Year 2015/16

Use of the Hall remains steady overall and we have welcomed several new regular hirers since the start of the new financial year. No major capital projects are planned for the immediate future but we are entering a period when replacements of equipment will become more necessary. Adequate funds are available for immediate needs but fund raising continues to be one of our objectives to rebuild reserves. There was a successful joint fund raiser with the Shipham Players in the autumn 2015 and we are looking for similar joint fund raising opportunities.

Professional Support

Lloyds Bank plc is used to bank rental income and CAF Bank Ltd is used for all other regular transactions. Virgin Money’s instant access account was used until August 2014 for short term funds but these are now only placed with Julian Hodge Bank Limited.

The Independent Examiner is Mr R R Cox, a retired Chartered Accountant from Winscombe.

Signature and Declaration

I declare, in my capacity as Chairman, that the Trustees have approved the report above and have authorised me to sign it on their behalf

Shipham Village Hall Trust

Statement of finances

for year ended 30 June 2015

Page 1 of 5 Statement of finances y.e 30 June 2015

INCOME AND EXPENDITURE ACCOUNT

INCOME:

pages 2, 4) 2014/15 2013/14

I

Hire charges 28,725 28,611

Fund raising note 1 0 4,620

Donations note 1 716 392

Parish Council Grant note 2 0 2,000

Sedgemoor District Council Grant note 2 0 9,000

Total

29,441

44,623

Solar energy income note 3 3,404 2,648

Interest on deposits 803 1,265

Total Income

33,648

48,536

EXPENDITURE:

Direct Charitable Expenditure:

Fund raising costs note 2 0 2,965

Wages 2,013 2,196

Honoraria to bookings clerks note 4 4,305 3,000

Insurance note 5 1,854 2,039

Electricity note 6 1,690 1,832

Gas 1,941 1,853

Water and sewerage 283 230

Annual maintenance contracts note 7 2,922 3,328

Repairs and maintenance note 8 6,756 3,671

Cleaning note 9 1,712 1,294

Broadband, Wi-Fi and alarm line 437 725

Officers postage and stationery 540 534

Annual Licences 851 937

Sundry 90 365

Expenses re Independent Examination 66 65

Total Expenditure

25,460

25,034

Net Income

before depreciation

8,188

23,502

Less Depreciation note 13 9,943 9,341

Shipham Village Hall Trust

Statement of finances

for year ended 30 June 2015

Page 2 of 5 Statement of finances y.e 30 June 2015

Notes on the Income and Expenditure Account

1. No fund raising events took place in the year but donations of £716 were received.

2. Grants of £11,000 were received in 2013/14 towards the cost of the storage extension.

3. Feed in Tariff (FIT) and exported energy payments increased with a full year contribution from the third installation and exceptionally good weather. This figure is before the depreciation of the solar systems ( see note13 on page 4)

4. Payments of honoraria were made to our bookings clerks, Brenda Moorhouse and Kate Meadows. Payments to Brenda, before her retirement in December, were in accordance with the terms of the authority granted by the Charity Commission. Kate Meadows took over full responsibility in November but was also paid for her work from the end of July setting up the new computerised booking system and to include all bookings for hires from the start of the year.

5. Insurance cover is provided by an Aviva Village Guard policy underwritten for a 3 year term, extended at the latest renewal to run until 12/12/2018.

6. An introductory credit of £100 was received on transfer to a new electricity supplier during the year. Further reductions came from extra first half year benefit from the third solar panel systeminstalled in December 2013.

7. Annual contracted maintenance costs were 2014/15 2013/14

£ £ £ £

Kitchen service and deep clean 780 780

Hall floor refurbishment 708 966

Gas and heating systems 318 312

Septic tank 248 314

Security systems 323 411

Door service 300 300

Fire-fighting and electrical equipment 167 167

Children’s play area safety report 78 2,922 78 3,328

8. Repair and maintenance costs were:

Certification of electrics 1123 0

Contribution to football club drive fencing 350 0

Stage curtain wire and other curtains 591 0

Repair kitchen shutter motors 480 0

Storm damage to roof (Security repairs) 554 356

Internal redecorating of the building 722 797

Internal electrics and lights 306 801

Plumbing repairs 126 54

Clean: pvc gutters (external pvc frames) 272 145

Grounds (exterior seats) 879 813

Exterior lights/alarms 995 354

Sundry small repairs or replacements 358 6,756 351 3,671

9. Cleaning costs

Materials, sundries and floor cleaning 1,472 1,229

Window cleaning 240 1,712 65 1,294

Shipham Village Hall Trust

Statement of finances

for year ended 30 June 2015

Page 3 of 5 Statement of finances y.e 30 June 2015 :

BALANCE SHEET AT YEAR END

Notes 30/06/2015 30/06/2014

Fixed Assets

Land at original cost 28,281 27,619

Land addition at costin the year 0 662

Premises at cost b/forward 498,377 461,487

Premises additions at costin the year note11.1 3,250 36,890

Land and premises c/forward at cost note12 529,908 526,658

Equipment at cost b/forward 129,170 119,096

Equipment disposed/replaced in the year note11.2 -2,849 0

Equipment additions at cost in the year note11.3 3,883 10,074

Equipment at cost c/forward 130,204 129,170

Equipment depreciation b/forward -88,997 -79,656

Less disposed/replaced equipment in year 2,849 0

Equipment depreciation in the year note 13 -9,943 -9,341

Equipment depreciation c/forward -96,091 -88,997

Equipment Net Book Value 34,113

40,173

Total Fixed Assets

566,831

Current assets:

CAF Bank Ltd: instant access accounts note 14 10,469 7,604

Lloyds Bank plc : instant access a/c note 14 605 494

Virgin Money instant access account note 15 0 21,032

Julian Hodge Bank Ltd: 90 day notice a/c. 18,312 1

Julian Hodge Bank Ltd: bond (matures 04/16) note 16 11,799 0

Total cash and bank balances 41,185 29,131

Debtors for hire charges and Solar FIT 2,340 2,864

Other debtors and pre-payments 1,268 1,193

Total current assets 44,793 33,188

Current liabilities:

Accruals and provision 1,398 196

Deposits and rents paid in advance 2,284 4,280

Total current liabilities 3,682 4,476

Net current assets

41,111

28,712

Julian Hodge Bank Ltd: bond maturing 04/16 note 16

0

Total net assets

605,132

606,887

Represented by:

Fund balances brought forward

Net funds (decrease)/ increase in year

Fund balances carried forward

605,132

606,887

Shipham Village Hall Trust

Statement of finances

for year ended 30 June 2015

Page 4 of 5 Statement of finances y.e 30 June 2015 The Income and Expenditure Account, Balance Sheet and supporting notes relating to the year ended 30 June 2015 are as approved by the Trustees of the Trust.

21 March 2016

K S Chalk

Honorary Treasurer

Notes on the Balance Sheet

11. Changes to fixed assets:

1. In 2014/15 the area opposite the kitchen, including the public footpath was upgraded with a tarmac topcoat (£2,700) and a flow sensor automatic cut off stopcock was installed (£550) to reduce potential water damage from leaks. The 2013/14 additions all related to building the storage extension.

2. Various items replaced, or no longer used, have been removed from the lists of equipment in the year. Their original cost was £2,849 and all were fully depreciated 3. Additions to equipment in 2014/15 were: £1,812 on the new booking system’s software,

equipment, and installation; £1,110 on blackout liners in the main hall; £499 on 4 extra tables; £461 on a hot water heater for the Star Room toilet washbasin. The 2013/14 major additions were £4,487 on fitting out the extension and £3,281 on a replacement central heating boiler.

12. The insured value for replacement of the buildings was set at the policy renewal date on 13 December 2015, at the adjusted professional valuation of £873,215 after indexation of the data base including the costs for the new storeroom. The total valuation includes equipment classified as equipment with a cost of £58,384 within the accounts at 30 June 2015.

13. The depreciation policy writes down the cost of equipment over its minimum expected life to

provide the money for their eventual replacement when needed.

The expected life selected is now either 5,10 or 20 years, as shown below with the original cost and net book value at 30 June 2015 for each category shown in brackets:

5 yr. life: Kitchenware, computers, general sanitary ware, and sundries (£7,793; £2,632) 5 yr. life: Audio/video equipment, curtains, & carpets (£27,809; £1,922)

10 yr. life: Inverters, lift, kitchen, play area equipment and furniture (£73,199; £14,017)

20 yr. life: Solar panels (£21,403; £15,542)

Total: All equipment (£130,204; £34,113)

Within the total depreciation charge, £1,370 related to solar panels and inverters.

Land and premises are not depreciated but replacements of major equipment included

originally in the building cost are now added to equipment and depreciated.

14. CAF Bank Ltd was appointed as the principal banker to the Trust in January 2008 and the original banker, Lloyds Bank plc, is now used for banking rental income.

15. When Virgin Money instant access account reduced its interest rates funds were transferred during the year to Julian Hodge Bank Limited’s 90 days’ Notice Account, to earn more interest.

16. Cash set aside for longer term asset replacements was placed with Julian Hodge Bank Limited in 2011. One remaining 4% fixed term bond of £10,000 matures in April 2016. During the fixed term no withdrawals are allowed and interest is paid at maturity.

Shipham Village Hall Trust

Statement of finances

for year ended 30 June 2015

Page 5 of 5 Statement of finances y.e 30 June 2015

Independent Examiner's Report

to the Trustees of Shipham Village Hall Trust

I report on the Accounts of the Trust, for the year ended 30

June 2015, which are set

out on pages 1 to 4.

Respective responsibilities of Trustees and the Examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's

trustees consider that an audit is not required for this year under section 144 of the

Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

 examine the accounts under section 145 of the Charities Act,

 to follow the procedures laid down in the general Directions given by the Charity

Commission (under section 145(5)(b) of the Charities Act, and

 to state whether particular matters have come to my attention.

Basis of Independent Examiner's Report

My examination was carried out in accordance with general Directions given by the

Charity Commission. An examination includes a review of the accounting records kept

by the charity and a comparison of the accounts presented with those records. It also

includes consideration of any unusual items or disclosures in the accounts, and

seeking explanations from the trustees concerning any such matter0s. The procedures

undertaken do not provide all the evidence that would be required in an audit, and

consequently no opinion is given as to whether the accounts present a ‘true and fair’

view and the report is limited to those matters set out in the statement below.

In connection with my examination no matter has come to my attention:

1.

which gives me reasonable cause to believe that in any material respect the

requirements



to keep accounting records in accordance with Section 130 of the

Charities Act; and



to prepare accounts which accord with the accounting records and

comply with the accounting requirements of the Charities Act

have not been met; or

2. to which, in my opinion, attention should be drawn in order to enable a proper

understanding of the accounts to be reached.

22 March 2016

R.R.Cox