SGH_VENUE_MANAGEMENT - Accounts

The trustees present their report and financial statements for the year ended 30 June 2020.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

The objects of the company (SGHVM) are set out in the Articles of Association and are principally to benefit the residents of Bewdley and the surrounding area by providing facilities for recreational, cultural and other leisure time occupation, to advance education and lifelong learning and to promote good health and healthy living as well as other charitable purposes agreed by the Board.

This year our efforts were significantly affected by the Coronavirus pandemic which resulted in the Hall being closed from 18th March 2020.

In the part-year prior to closure meeting rooms and the main hall had continued to be booked by a wide range of local voluntary and charitable groups. The hall was also used by businesses and organisations who hired rooms in the Hall and offered a wide range of services to the community. St. George’s Hall actively encourages voluntary organisations through its discounted hire rates. We were able to maintain our hire rates with no increases over those in 2018/19.

The Hall continued to host events which form part of the fabric of Bewdley’s social and cultural scene including the annual Town Council meeting, the Bewdley Horticultural Society show and the Bewdley Beer Festival.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.

The enforced closure of all Hall activities in March 2020 dramatically affected the overall usage of the Hall in the full year 2019/20. Despite the increase in bookings experienced from July 2019 to February 2020, bookings are down over the full year. The Board continued to meet virtually during the lockdown. Full risk assessments were undertaken during the closure period and mitigating actions completed to get the Hall ready for opening as soon as restrictions were lifted.

The Community Café provides an easily accessible and welcoming place for people to meet and socialise. 100% of the café trading surplus is donated to SGHVM to support the maintenance and development of the Hall and its facilities. It continued to be open 6 days a week from 10 am to 5pm staffed by a team of up to 80 volunteers from July to early March 2020 when it had to close owing to the Covid lockdown. The Café had continued to increase in popularity up to closure. This was measured by the fact that turnover had risen to point where it was necessary to be registered for VAT.

Until the enforced closure we had continued to offer a weekly Cinema sessions run by a dedicated group of volunteers and well supported by the local community. An additional Film Club met monthly.

We also continued to provide monthly live music events which showcased local emerging talent including youth performers as well as bringing established acts to perform in Bewdley.

This year also saw us host a refugee clothing bank, charity bookshelf and the ‘Card for Good Causes’ charity Christmas card shop.

During March 2020 in the early part of the Covid lockdown we worked with the ‘Bewdley in Kind’ local Covid response charity to provide storage for goods collected for re-distribution to local Food Banks. We registered with the Worcestershire County Council scheme to offer community spaces during the pandemic and offered space to the Bewdley School.

A major highlight of the year was the award of the Queen’s Award for Voluntary Services. This was a significant achievement and a tribute to the efforts of all those who volunteer in St George’s Hall to support the community of Bewdley.

During the financial year July 2019 to June 2020 the charity received income of £125,065 (2019: £162,175). Costs of refurbishment and maintenance of assets of St George's Hall incurred in the year amounted to £4,384 (2019: £11,420) at 30 June 2020. Other costs, including depreciation, of £186,284 (2019: £204,537) were incurred during the period.

During the year the Hall took advantage of the Government funded furlough scheme to retain all its staff and also benefitted from support funding from Local Government and a rent holiday from its landlords.

All regular outgoings have been met. The Hall continues to be properly and regularly maintained. Reserves of £40k to cover any major repairs and longer term replacements and renewals of equipment remain set aside.

People and Training

The Hall employs four part time staff: a manager, an administrator, a Saturday café supervisor and a caretaker. Training needs for all four are kept under review.

The Hall also benefits hugely from over 100 volunteers who support the café, cinema, music and other activities. All new volunteers receive comprehensive induction training and ongoing training.

Plans For The Future

The Charity has 7 further years of a 15 year lease with the Trustees of the Bewdley Christian Community Hall (BCCH) which was entered into in 2012. During 2019/20 SGHVM has been working with BCCH to find ways to ensure that the benefits being delivered to the community by its activities can be extended beyond the term of the current lease arrangement.

The Board has adopted a policy of community engagement through which we will actively seek partner organisations to enable us to widen the range of community activities offered in the Hall.

The Board is aware of the following specific shortcomings in the way the Hall operates:

• Inadequate chair storage at first floor level.

• Lack of a catering kitchen for use in conjunction with the Main Hall

• Poor access to the disabled toilet at ground floor.

The public consultation exercise held in spring of 2019 gathered views from the community on how the Hall might improve or extend the facilities it offers. This exercise underlined the need to meet the following requirements:

• Provide a catering kitchen for use by hirers of the Hall

• Increase the size of the café to support and encourage a greater range of informal gatherings

• Provide a medium sized-meeting room (larger than the Wyre/Severn rooms but smaller than the main hall)

During 2019/20 productive meetings were held with the Director of Worcestershire Libraries who is interested in moving the library from its current site next to the Medical Centre to St George’s Hall. We believe that this would be beneficial for both St George’s Hall and the Library and would be of benefit to the community in Bewdley.

Progress has been hampered this year by the Covid pandemic, but we are ready to make a planning application and are arranging a pre-application consultation meeting with the district Conservation Officer.

Our intention in 2021 will be to re-run a public consultation exercise on the proposed plans as soon as Covid restrictions allow prior to submitting a planning application.

The charity is a company limited by guarantee and was incorporated in England and Wales on 20 June 2012.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

The trustees are appointed in accordance with the company's Articles of Association. Bewdley Development Trust, Bewdley Festival and Bewdley Christian Community Hall shall each have the right to nominate up to two persons to be appointed as directors. The Board shall consider any nominations received and shall appoint the persons nominated as directors in line with the company's Articles of Association. In the event that a vacancy for a Bewdley Development Trust, Bewdley Festival or Bewdley Christian Community Hall director arises then the Board shall seek a nomination from the appropriate partner and appoint a replacement in line with the Articles of Association.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees manage the business of the company, and the day to day business of the company is managed by the Company Secretary, Jane Barnett.

The report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006.

The Trustees report was approved by the Board of Trustees.

I report to the trustees on my examination of the financial statements of SGH Venue Management (the charity) for the year ended 30 June 2020.

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

the financial statements do not accord with those records; or

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns 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 the financial statements to be reached.

Other trading activities

Costs of other trading activities

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2020.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

SGH Venue Management is a private company limited by guarantee incorporated in England and Wales. The registered office is St. George's Hall, Load Street, Bewdley, Worcestershire, DY12 2EQ.

The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the 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 statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The charity is a public benefit entity.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors 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.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

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 residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Cash and cash equivalents include cash in hand and deposits held with banks.

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.

Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate, and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

The donation of £33,000 (2019:£56,000) was received from SGHVM Community Cafe, and represents the surplus from trading activities.

Other trading activities

Hall bookings

Bar

Cinema

Events

Lettings

Fundraising and publicity

Costs of other trading activities

Bar

Cinema

Events

Insurance

Telephone and internet

Light, heat and power

Rent and rates

Repairs and maintenance

Licences and subscriptions

Cleaning and sundry expenses

Feasibility Studies

Accountancy fees

Independent examination fees

Bank charges

Legal expenses

Governance costs includes payments to the accountants of £1,620 (2019- £1,500) for independent examination fees.

The average monthly number of employees during the year was:

All of the charity's income is applied for charitable purposes and therefore the charity is exempt from corporation tax.

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

During the year the charity entered into the following transactions with related parties:

The company has entered into a 15 year lease agreement to pay rent to Bewdley Christian Community Hall Ltd, a company in which P R Warnett is a director.

Details of the charity's subsidiaries at 30 June 2020 are as follows:

Financial statements are available for this company for the period ending 30 June 2020.

The charity received charitable donations of £33,000 (2019 - £56,000) from this company during the year, and a balance of £11,939 (2019 - £9,090) was due from the company at the year end.