1. The accounts for 2020 are attached. These relate to the period 1 January to 31
December 2020 and all comments are in respect of this period.
2. The total income for the year was £22,394.46. Income from activities and
events was severely limited due to a long period of closure of the hall as a
result of COVID. There were two main items of income. Firstly as Oxborough
Village Hall is responsible for business rates an application to Breckland
Council was made for the Government COVID Grant and £12,701.50 was
allocated in 2020. Secondly £7,506.98 was raised from grants (£5,000 NCF and
£1,000 Watling), Big Breakfast (£400), Waitrose (£333) and donations from
villagers (£773.98) for the new kitchen.
3. The total expenditure for the year was £23,916.32. This was mainly due to
physical improvements to the hall completed during lockdown. (See 5 below).
4. Premises Costs have remained at a similar level to last year. There has been a
small increase in Electricity charges and as per previous practice a 3 year fixed
term deal has been entered into with a new supplier (ScottishPower from
November 2020) at a more competitive rate. Closure of the hall has not
effected the level of electricity usage due to the Insurance policy requiring a
temperature level of 14 degrees to be maintained during this period. Water
charges were lower in 2019 due to bills being based on estimated usage and in
2020 actual readings were used that were much higher than the estimated
readings. The Cleaner has been retained on £50 for a 4 week period and will be
required to work extra hours when the hall is reopened to reflect these
payments. In addition cleaning materials were much more costly to take
account of the requirements under COVID arrangements. A new Fire
Maintenance contract was entered into and fire extinguishers have been
purchased that will last for a 10 year period giving substantial savings in future
years, plus the PAT testing is much cheaper. Insurance is now one annual
charge and is less expensive than before.
5. Equipment and Improvements totalled £19,885.81 and these are itemised in
the accounts.
6. Overall expenditure exceeded income by £1,521.86. As at 31 December 2020
Current Assets are £10,855.76 of which £4,000 is retained as Reserves.
Premises and Land is shown as a nominal £1 to reflect that the Village Hall is
owned by the trustees of the Village Hall.
7. The Committee considers a regular report on the schedule of works and
planned maintenance to ensure that resources are utilised in the most
productive way to enhance the facilities at the Village Hall.
8. Action: The Accounts be approved
Mike Craig
Treasurer Oxborough Village HallOVH Fin Regs PDF