Monday, January 17, 2011

Jubilee Hall reports - is it going bust?

The Eaton Socon Institute which runs Jubilee Hall on behalf of St Neots Town Council has reported on its financial year to the 31st March 2010. As the reporting level is £25,000 of income, the Eaton Socon Institute is not required to file accounts.

The ESI does have to provide amounts for income and expenditure. For the year ending 31/03/10 this amounted to income of £22,379 and expenditure of £27,308. This is a loss of £4,929. In the published accounts for 2008/09 the total cash reserves were: £11,075. This means the ESI started this current financial year with £6,046 in the bank.

Unless there is a dramatic turnaround in this current financial year it looks as though the ESI will go bust. The lease for Jubilee Hall will be up in 2013. In this financial state it should be considered whether the ESI should carry on running the Hall. The other option is it will revert to being run by the Town Council. Probably the best option.

The contact details given on the Charity Commission website points to Cllr Gordon Thorpe.

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