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REGISTERED COMPANY NUMBER: 06212268 (England and Wales)
REGISTERED CHARITY NUMBER: 1122196














Trustees' Report and

Financial Statements for the Year Ended 31 March 2023

for

Kiveton Park and Wales Village Hall

Kiveton Park and Wales Village Hall

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Reference and Administrative Details 1

Trustees' Report 2 to 4

Independent Examiner's Report 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Notes to the Financial Statements 9 to 15

Kiveton Park and Wales Village Hall

Reference and Administrative Details
for the Year Ended 31 March 2023



TRUSTEES Mrs J Drakett Chair
Mr R L Hill Trustee (resigned 24.1.23)
Mr J Holden Trustee
Mrs K A Stanley Vice Chair Trustee
Mrs A L Armitage-Griffiths Trustee
Mrs H E Carline Trustee
Mrs H M Phoenix Treasurer Trustee
Miss J Reilly Trustee


COMPANY SECRETARY


REGISTERED OFFICE Walesmoor Avenue
Kiveton Park
Sheffield
S26 5RF


REGISTERED COMPANY
NUMBER
06212268 (England and Wales)


REGISTERED CHARITY
NUMBER
1122196


INDEPENDENT EXAMINER M Ahmed & Co
Chartered Accountants
83 Park Road
Chilwell
Nottingham
NG9 4DE

Kiveton Park and Wales Village Hall (Registered number: 06212268)

Trustees' Report
for the Year Ended 31 March 2023



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the organisation are to provide a village hall for use of the inhabitants of the parish of Wales and the surrounding area in the county of South Yorkshire without distinction of political, religious, or other opinions including use for meetings, lectures, classes and for other forms of recreation and leisure time occupation with the object of improving the conditions of life of said inhabitants.

ACHIEVEMENT AND PERFORMANCE
Charitable and Fundraising activities
2022/23 was another challenging year with the ongoing changes Covid impacted on people's behaviour and habits and the high rates of inflation and economic pressures on individuals and businesses resulting from the "Cost of Living crisis".

The impact of the souring increases in energy prices at 400% has been especially damaging. Increases in other fixed and variable costs have been between 16% and 28%. With no means of support from governments or community bodies these increases will require careful management. Our trading arm the Lamp and Pony has been able to provide only limited financial help in the form of "gift aid" as they have also come under pressure from increased costs and reduced revenue.

Classes were the mainstay of our income. Unfortunately these have also been affected by the cost-of-living crisis, with reduced numbers and reduced income it has forced some to reduce the number of classes and others to close. As people prioritise their expenditure, leisure and hospitality are the first to be hit.

The year has also been stressful for Trustees. In addition to pressures on income and costs, the Village Hall continues to experience difficulties in recruiting Volunteers and Trustees, a position which is being experienced by most small charities.

As Trustees we have seriously looked at succession planning to ensure the continued future of the Village Hall, however without the support of the community the Village Hall could become a victim of the economic downturn.
The Annual General Meeting in 2023 will need to focus on this issue in particular.

Fundraising activities
Our inability to attract "new blood" has reduced our ability to undertake a number of activities leaving us to concentrate on the main events which have been well supported by the local Community in the past.


Kiveton Park and Wales Village Hall (Registered number: 06212268)

Trustees' Report
for the Year Ended 31 March 2023


FINANCIAL REVIEW
Financial position
The results for the period are shown on page 6 - 7.

Donations reduced by 49% from £9,996 in 2021/22 to £5,099 in 2022/23 due to fewer Covid related grants from the Council and HMRC. The £5,099 is mainly Gift Aid from the Lamp and Pony.

£32,611 (2021/22 - £30,876) income was received from charitable activities. This was mainly due to an increase in catering income as the Covid related restrictions were lifted.

Income from other trading activities (mainly machine takings) and investment income (mainly rent from Lamp & Pony) were broadly in line with 2021/22.

Total costs excluding depreciation of £37,497 are £1,944 higher than the £35,553 in 2021/22 due to higher repairs and maintenance and machine game duty which were partly offset by savings in wages,and light and heat.

Net income before depreciation was £21,049 (2021/22 - £25,156). This has allowed the Village Hall to build up some cash reserves for the future.

Covid still represents a risk for 2023/24 as new variants are being identified on a regular basis and there remains the risk of potential restrictions in the future.

Principal funding sources
The main sources of funding are the hire of facilities at the hall for regular private functions, community group classes, fund raising events, and donations received from The Lamp and Pony bar. There are no outstanding funding applications at the present time.

Investment policy and objectives
The Village Hall is a very young company and is not yet at the stage of having funds to invest.

Reserves policy
The Management Committee is aware, and has a policy, that unrestricted funds held by the charity and not committed or invested in tangible fixed assets should be between 3 and 6 months of expenditure.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The organisation is a charitable company limited by guarantee, incorporated on 13 April 2007 and registered as a charity on 7 January 2008. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under the Articles of Association. In the event of the company being wound up members are required to contribute £10 each only. The company is exempt from the requirement to include 'limited' in the name.

Recruitment and appointment of new trustees
The directors of the company are also charity trustees for the purposes of charity law. The Articles require a minimum of five and a maximum of nine trustees. Any vacant positions may be filled by co-option throughout the year. One quarter of the trustees must retire at each AGM, the longest serving to retire first, and may offer themselves for re-election if qualified. A retiring trustee may offer themselves for re-election for a maximum of two consecutive terms.


Kiveton Park and Wales Village Hall (Registered number: 06212268)

Trustees' Report
for the Year Ended 31 March 2023


STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The Village Hall has a Management Committee of up to 9 trustees who meet monthly and are responsible for the strategic direction and policy of the charity. At present the committee has 8 trustees as itemised under Company Information above. The Management Committee is responsible for all decision making and direction of the business.

The Chairperson has overall control on all the final decisions after liaising with, and agreement from, all trustees. The Chairperson will use their authority on any issues that are unable to be agreed upon.

There are currently 3 part time employees working at the village hall. All work in the area of support services.

Induction and training of new trustees
New Trustees are invited to attend a short induction training session following their appointment. This is usually led by the Chair. Trustees are given an induction pack to include:
" The operational framework for the Company
" A copy of the Memorandum and Articles of Association
" The Charity Commission's publication - "The Essential Trustee"
" The latest published accounts
" A skills checklist in order to identify what skills they can bring to the organisation.
" The Trustees Code of Conduct

In addition trustees are encouraged to attend any appropriate training identified throughout the year.

Trustees are made aware on appointment that if the Village Hall gets in financial difficulties then their financial liability is limited to £10.

Risk management
The Management Committee is responsible for risk management issues. Risks are reviewed and policies put in place to minimise risks in all areas.

INDEPENDENT EXAMINER
The Management Committee has agreed to re-appoint M Ahmed & Co as accountants and independent examiners of the financial statements.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 20 September 2023 and signed on its behalf by:





Mrs J Drakett - Trustee

Independent Examiner's Report to the Trustees of
Kiveton Park and Wales Village Hall


Independent examiner's report to the trustees of Kiveton Park and Wales Village Hall ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
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:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts 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
4. the accounts 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 accounts to be reached.








Maqbool Ahmed

M Ahmed & Co
Chartered Accountants
83 Park Road
Chilwell
Nottingham
NG9 4DE

20 September 2023

Kiveton Park and Wales Village Hall

Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 31 March 2023

31.3.23 31.3.22
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 6,928 (1,829 ) 5,099 9,996

Charitable activities
Room hire income 28,453 - 28,453 24,997
Catering Services 1,839 - 1,839 -
Miscellaneous income 2,319 - 2,319 5,874

Other trading activities 3 6,422 - 6,422 5,817
Investment income 4 14,414 - 14,414 14,025
Total 60,375 (1,829 ) 58,546 60,709

EXPENDITURE ON
Charitable activities
Cost of sale 74 - 74 -
Administration Expenses 13,511 - 13,511 19,122
Establishment Expenses 19,846 - 19,846 13,615
Legal & Professional Expenses 4,066 - 4,066 2,816
Fixed Asset costs 454 20,169 20,623 22,038
Total 37,951 20,169 58,120 57,591

NET INCOME/(EXPENDITURE) 22,424 (21,998 ) 426 3,118


RECONCILIATION OF FUNDS
Total funds brought forward 53,986 667,890 721,876 718,758

TOTAL FUNDS CARRIED FORWARD 76,410 645,892 722,302 721,876

Kiveton Park and Wales Village Hall (Registered number: 06212268)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 (1 ) 645,893 645,892 668,343

CURRENT ASSETS
Debtors 10 5,799 - 5,799 1,861
Cash at bank and in hand 70,611 - 70,611 51,672
76,410 - 76,410 53,533

NET CURRENT ASSETS 76,410 - 76,410 53,533

TOTAL ASSETS LESS CURRENT
LIABILITIES

76,409

645,893

722,302

721,876

NET ASSETS 76,409 645,893 722,302 721,876
FUNDS 12
Unrestricted funds 76,410 53,986
Restricted funds 645,892 667,890
TOTAL FUNDS 722,302 721,876

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 charitable company.


Kiveton Park and Wales Village Hall (Registered number: 06212268)

Balance Sheet - continued
31 March 2023

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


The financial statements were approved by the Board of Trustees and authorised for issue on 20 September 2023 and were signed on its behalf by:





Mrs J Drakett - Trustee

Kiveton Park and Wales Village Hall

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable activities
These costs are incurred by the charity in the delivery of its activities and services for beneficiaries.
It includes both costs that can be allocated direct to such activities and those costs of an indirect nature necessary to support them.

Governance costs
This includes those costs associated with meeting the constitutional and statutory requirements of the charity, and include the audit fees and costs linked with the strategic management of the charity.
All costs are allocated between the categories of the SoFA on a basis designed to reflect the use of
the resource. Costs relating to a particular activity are allocated directly, other are apportioned on an
appropriate basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Freehold property - 2% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.


Kiveton Park and Wales Village Hall

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The Charity does not operate a pension scheme as no employee has opted into a pension scheme.

2. DONATIONS AND LEGACIES
31.3.23 31.3.22
£    £   
Gifts and donations 69 32
Gift aid 5,022 -
Grants 8 9,964
5,099 9,996

3. OTHER TRADING ACTIVITIES
31.3.23 31.3.22
£    £   
Machine Takings 5,446 5,796
Ticket sales 976 21
6,422 5,817

4. INVESTMENT INCOME
31.3.23 31.3.22
£    £   
Rents received 14,280 14,020
Deposit account interest 134 5
14,414 14,025

5. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.23 31.3.22
£    £   
Depreciation - owned assets 22,451 51


Kiveton Park and Wales Village Hall

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.


7. STAFF COSTS

The average monthly number of employees during the year was as follows:

31.3.23 31.3.22
Administration, cleaning and general 2 2

No employees received emoluments in excess of £60,000.

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 9,996 - 9,996

Charitable activities
Room hire income 24,997 - 24,997
Miscellaneous income 5,874 - 5,874

Other trading activities 5,817 - 5,817
Investment income 14,025 - 14,025
Total 60,709 - 60,709

EXPENDITURE ON
Charitable activities
Administration Expenses 19,122 - 19,122
Establishment Expenses 13,615 - 13,615
Legal & Professional Expenses 2,816 - 2,816
Fixed Asset costs 51 21,987 22,038
Total 35,604 21,987 57,591

NET INCOME/(EXPENDITURE) 25,105 (21,987 ) 3,118


RECONCILIATION OF FUNDS
Total funds brought forward 28,881 689,877 718,758


Kiveton Park and Wales Village Hall

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund funds funds
£    £    £   
TOTAL FUNDS CARRIED FORWARD 53,986 667,890 721,876

9. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2022 and 31 March 2023 1,034,571 3,305 61,586 1,099,462
DEPRECIATION
At 1 April 2022 366,682 3,305 61,132 431,119
Charge for year 21,997 - 454 22,451
At 31 March 2023 388,679 3,305 61,586 453,570
NET BOOK VALUE
At 31 March 2023 645,892 - - 645,892
At 31 March 2022 667,889 - 454 668,343

The land and buildings, which are stated at cost, represent the village hall in the Parish of Wales. No valuation of this has been carried out. However, as this is a public building, the market value on an existing use basis may be lower than cost. No adjustment has been made to reflect this.
The buildings were part funded by a grant from the Wales Parish Council who hold a debenture over all of the fixed assets of the village hall.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 5,799 1,861

11. SECURED DEBTS

The bank loans are secured on the Village Hall land and buildings.


Kiveton Park and Wales Village Hall

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


12. MOVEMENT IN FUNDS
Net
movement At
At 1.4.22 in funds 31.3.23
£    £    £   
Unrestricted funds
General fund 53,986 22,424 76,410

Restricted funds
Village Hall 672,663 (21,998 ) 650,665
Equipment (4,773 ) - (4,773 )
667,890 (21,998 ) 645,892
TOTAL FUNDS 721,876 426 722,302

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 60,375 (37,951 ) 22,424

Restricted funds
Village Hall (1,829 ) (20,169 ) (21,998 )

TOTAL FUNDS 58,546 (58,120 ) 426


Comparatives for movement in funds

Net
movement At
At 1.4.21 in funds 31.3.22
£    £    £   
Unrestricted funds
General fund 28,881 25,105 53,986

Restricted funds
Village Hall 694,650 (21,987 ) 672,663
Equipment (4,773 ) - (4,773 )
689,877 (21,987 ) 667,890
TOTAL FUNDS 718,758 3,118 721,876

Kiveton Park and Wales Village Hall

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 60,709 (35,604 ) 25,105

Restricted funds
Village Hall - (21,987 ) (21,987 )

TOTAL FUNDS 60,709 (57,591 ) 3,118

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.4.21 in funds 31.3.23
£    £    £   
Unrestricted funds
General fund 28,881 47,529 76,410

Restricted funds
Village Hall 694,650 (43,985 ) 650,665
Equipment (4,773 ) - (4,773 )
689,877 (43,985 ) 645,892
TOTAL FUNDS 718,758 3,544 722,302

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 121,084 (73,555 ) 47,529

Restricted funds
Village Hall (1,829 ) (42,156 ) (43,985 )

TOTAL FUNDS 119,255 (115,711 ) 3,544


Kiveton Park and Wales Village Hall

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


13. RELATED PARTY DISCLOSURES

The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.