Charity registratlon number 1051657 Company registratlon number 02990425 (England and Wales) AMBLE DEVELOPMENT TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
AMBLE DEVELOPMENT TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees RA Henderson PH Rigby C Weir DG S,Nickalls L Morelli T Clark C Armstrong . W Amstrong J Carruthers M Bond JM Dunn J Hoskin (Appointed 19 April 2023) Secretary J Aston Charlty number 1051657 Company number 02990425 Prlnclpal address Foumays 2 Dilston Terrace Amble Morpeth Northumberland NE65 ODT Independent examlner Robson Laidler Accountants Llmited Femwood House Femwood Road Jesmond Newcastle upon Tyne Tyne and Wear England NE2 1TJ
AMBLE DEVELOPMENT TRUST CONTENTS Page Trustees. report Independent examiner's report Statement of financial activities Balance sheet 10 Notes to the financial statements
AMBLE DEVELOPMENT TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial ststements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document, 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 8nd Republic of Ireland (FRS 102)" (8ff&ctiv& 1 January 2019). Chairman's report Once again as chairman may I take this opportunity to welcome you to theAmble Development TrustAnnual Report in the year that we celebrate 30 years of regeneration in the town. I thought this would be a good time to recap on the many projects that have been completed over the intervening years. From the early years (before my time as Chair) when the Trust was 'housed' In the Harbour office and the first project of armouring Harbour Road, then the new pier, through to the town square and Queen Street refurbishment. The old Fourways public house and FOUayS 2 new office accommodation, former Co-op building that now houses 3 retail units and 4 affordable houses, welfare refurbishment and childrens play area, the Harbour Mllage, Seafood Centre 8nd lobster hatchery and Bord Waalk, not to mention the many community based projects including the much loved Ambler newspaper. Warklng with partners these are just some of the changes and developments that the town has gone through, hopefully all having contributed to making a positlV8 difference, Last year I welcomed new trustees to our board, this year we welcome new staff members. Matthew Connolly, who some may know for the sterling work he does 8s a volunteer with Amble Youth Project has jolned Trust staff following in the footsteps of Andrew Gooding. Andrew left at Christmas to take up a new role in Hexham. And we have John Lee now working in the Seafood Centre. We welcome you both to the Trust. Objectlves and actlvltles The objectives of the trust are to regenerate Amble by taking 8 lead In most aspects of economic, social and community regeneration in partnership with other agencies and to provide the conditions and Infrastructure for the restoration of communlty 8elf confidenc8, self esteem and economic prosperity. Publlc beneflt The Trust contlnues to provlde a range of service8 for public benefit in the form of affordable housing, employment counselling, media and IT projects as well as operating sports and leisure facllitie5. In addition through the operation of the Lobster Hatchery and rearing of juvenile lobsters we are ensuring a sustainable fishery that benefits the.wid&r community in the longer term. The trustees have paid due regard to guidance issued by the Charty Commission in deciding what activities the charity should undertake.
AMBLE DEVELOPMENT TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Activities The Welfare park: The new rubber crumb floor base has been installed in the children's play park. The rubber crumb was paid for by a grant from S106 money from NCC (contributions from local development projects). However. we are still waiting for a start date for the Playzone. We have also just completed an extension to the storage compound. The teams using the pavilion required addrtional storage for their equipment plus we hop@ to have a small storage container there for orchard equipment. The hedging to protect the orchard was planted early March and the fruit trees towards the end of the month. There is a mix of apple, pear, plum and cherry trees. The fruit will be available to anyone so we hope the area will be respected as a comrriunlty asset. We are still waiting for more information from NCC on the new High School dev&lopment. As the current plans include passage across the welfare from th8 old site which will still be used as a car park and drop off point to the new site, we welcome contact to discuss how thi8 will work and to see if we can negotiate use of the c8r park for our football teams at weekends and evenings for matches and training. This will be beneficial to the teams and residents of nearby streets where parking is provlng an issue. Reg8neration & Physical Development.. The physical aspect of Bord Waalk sculpture trail is now complete. We were honoured to have the official opening ceremony carried out by His Royal Highness The Duke of Gloucestar on a be8uliful sunny day last June. There were security and time constraints that meant we couldn't advertise the opening as widely as we would have preferred to ensure the community were aware but we had to follow the procedural rules of the Royal Household. That said many of the artists, children and organisations who had taken part in various ways attended 8nd enjoyed the sunshine, meeting The Duke and savouring the refreshments afterwards. So, it all turned out to be a glorious day enjoyed by many. And from our monitoring we know that m8ny locals and vlsitors alike are enjoying walking the trail. With our updated Investtnent Plan complete we would like to thank the many people, groups and business8s who took part and shared their ideas. This plan has already been usod.lo provide evidence of need for funding applications and we will continue to develop applications based on its content wherever possible. Amble Town Council have initiated the first steps of communty engagement for a Neighbourhood Development Plan (NDP). Having hosted a me&ling to determine interest they have now set a deadline dale for anyone wishing to be involved to come forward. It is now down to the community to take this further - without that involvement the plan that has been asked for will simply not happen. Housing development remains an issue which could perhaps have been avoided had a NDP happened sooner, however we have to work with what we have. We have taken part in govemment funded workshops related to community housing, that are to report back on thelr findings. Our view is that affordable homes and Section 106 money should be kept in the area of devdopment. Affordable homes could be managed by organisations similar to the Trust who have existing policies to ensure members of the local community {living or working in the town or have a close family relationship) most in need are glven first option on any available property. We have 4 affordable units and all have been tenanted since they were complete - all by local people who work in the town. Having this source of income aids the Trust to carry out more projects and regeneration wo rks in the town, so everyone benefits. The Seafood Centre Is currently undergoing an internal layout change. Staffing hours were reduced over the wlnter months due to reduced footfall and the halchery equipment dismantled in a bid to reduce energy bills. All will be replaced in the reshuffle to make the layout more user friendly. Given the value the hatchery has as a conservation project and visttor attraction we remain fully supportive of the initiative.
AMBLE DEVELOPMENT TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Ambler: This continues to play a major role in keeping the community infomied of local news and happenings. The publication highlights newsworthy issues as well as taking on challenges identified by the community and being a source of local information. We are grateful to the dedicated team of volunteers who work alongside the editor and give so freely of their time in orderto bring the bimonthly newspaper to your door. Achlevements and performance Financial support: Financial ye8r 2023 -2024 saw our core income mainly dependent upon our own income generation, with some additional funds gained through project management. Rental income from office, retail and housing accommodation are our main sources of income and allow the Trust to contribute in excess of £70k into the community annually through various projects and resources. other financial support has come in the fomi of grants from the Coastal Communities Fund, Arts Council, Northumberland County Council, Amble & Warkworth Rotary, Co-op Community Fund, Community Foundation and also p&rsonal donatlons to The Ambler. Vve offer our thanks to all funders for their continued support. Flnancial review The trusteas aim to have unrestricted funds not committed or invested in tangible fixed assets held by the charity of between 12 and 18 months of the core costs expended (net of rental income). This equates to £140k to £21 Ok. At this level the trustees feel that the charity would be able to continue in the event of delays in oblaining funding. Total incoming resources jumped to £250,454 (2023.. £198,847) largely due to the grant funding received from the Coastal Communilles Fund and Northumberland County Council. Expenditure increased to £262,442 (2023: £259,041) as work continued on the bord trail. and children's play area An overall deficit of £11,988 (2023: £60,194) was recorded. Reserv&s at the year end stood at £2.503,374 {2023'.£ 2,515,362) of which £278.581 (2023.. £244,979) is classed as free reserves. This level of free reserves is in excess of the charity target level however is expected to reduce in the 202412025 financial year dua to the current ongoing projects.. Risk management The trustees have a duty to identify and review the risks to which the charty is exposed and to ensure appropriate controls are in place.to provide reasonable assurance against fraud and error.
AMBLE DEVELOPMENT TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future perlods The next few months will determine whether the town council progresses a Neighbourhood Development Plan - if this goes ahead we will offer as much asslstance as requested. In the Investment Plan. arts and the creative sector featured heavily. This is a growlng Industry and one that appears to be capturing the attention of many in the town through Drywater Arts community based workshops and Ihe exhibitions and Crit sessions being run at the Dovecote Centre. There is a lot more to explore and we are already in conversation with the Cultural and Regeneration Officers at Northumberland County Council to see what opportunities could present themselves in funding terms. Matthew's role as chair of Amble Youth Project. and as a govemor at James Calvert Spence College present opportunities to link up to support. our young people that open up new opportunities in this sector. It's all about working with and joining up the different organisations to create scaled opportunities rsther than disparate groups competingl Taking our experience of high street properties where we have lost on8 tenant but h8ve had several anquiries for the property it looks as though Amble is still attracting investment. It is obvious that the nature of high streets is changing with more businesses provlding service8 that cannot be bought online, but we still have very few vacant. premises. We have recently taken part in a government backed consultation on housing and how organisations such as the Trust could fund their purchases as it becomes obvious that organisations that are based in the community and have policies that support tenancies to keep homes for the local workforce wherever possible ( affordable 15 based on local salaries) helps further investment in communities. The objectives of the Trust remain to assist the town to achieve its potential to this end we will continue to explore opportunities and working partner arrangements to achieve this goal to ensure we can carry on enhancing our town for the benefit of all. Once again, I would like to reglster my thanks to the Trust offlcers for their hard work, and to the Management Committee, trustees, colleagues, funders, supporters, and the community for continued support, with additional thanks to the many volunteers within the community who come fomard and give 80 generously of their tim6. Amble truly knows the meaning of support, care and community spirit. Structure, governanca and management 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. Amble Development Trust is a compsny limited by guarantee. set up on 2 November 1994 and its goveming document is its Memorandum and Articles of Association. It is registered as a charity with the Charity Commission. Every member of the charity undertakes to contrlbute such an amount as may be required (not exceeding £1) to the charity's assets if it should be wound up while he or she is a member, or within one year after he or she ceased to be a member.
AMBLE DEVELOPMENT TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 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: RA Henderson PH Rigby C Weir DG S Nickalls L Morelli T Clark C Armstrong W Armstrong J Carruthers M Bond JM Dunn J Hoskln (Appointed 19 April 2023) Recruitment and appolntment of new trustees The directors of the company are also charity trustees for the, purposes of charity law. Under the requirements of Ihe Memorandum and Articles of Association, the trustees serve for a three year period by rotation and may be re- elected for a further three year period at each annual general meeting. 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. Organlsatlonal structure The charity is managed by the Management Committee. The number of trustees is restricted to a maximum of fifteen, with the make-up of the representatives required to fulfil the criteria Set out in the Memorandum and Articles ofAssociation, to ensure adequate representation of all areas of the community. Amble Development Trust proflle remalns largely the same with Matthew Connolly joining the Trust team. Anna Williams has continued to deliver The Ambler and Julie Lilburn carries out Trust administration as well as being availabl8 via email to assist wilh CV 's and job-related enquirles. Sandy Hlgson AKA The Mad Jam Woman provides the preserve maklng expertlse and continues to make Pride of Northumbrla range of preserves. Julia Aston and Matthew Connolly carry out day to day management duties, slrategiclpolicylbudgevbusiness planning and asset managemenl, as well as actlng as the Trusts representatives on variou8 committees. ADT Northumbarland Ltd the Trus13 Irading am employs the Lobster H8tchery staff, alongside the Harbour Village staff. In tenns of profile, we continue as m8mbers of Locality and participate within FONDT activities (Federation of Northumberland Development Trusts). Inductlon and tralnlng of new trustees Most trustees are already familiar with the practical work of the charity. Additionally, new trustees are invited and encouraged to attend a'series of short meetings with some of the existing trustees to familiarise themselves wilh the charity and the context within which it operates. These cover.. The obligations of board members. - The main documents which set out the operational framework forthe charily. Resourcing and the current financial position as set out in the latest published accounts. Future plans and objectives.
AMBLE DEVELOPMENT TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT} (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees, repo as approved by Ihe Board of Trustees. PH Rigby Trustee Date..
AMBLE DEVELOPMENT TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AMBLE DEVELOPMENT TRUST I report to the trustees on my examination of the financial statements of Amble Development Trust (the charity) for the year ended 31 March 2024. Responslbllltles and basis of report As the trustees of the charity (and also its directors for th6 purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20C6 (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. Independent examlner's Statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Assocation of Chartered Certlfi8d Accountant, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to b81ieve th8t 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 aTh Republic of Ireland (FRS 102). I have no concems and have come across no other matters in connection with the examination to which attention should b drawn in this report in order to enable a proper understanding of the financial statements to be reached. Nicholas Cunningham FCCA Robson Laidler Accountants Limited Femwood House Femwood Road Jesmond Newcastle upon Tyne Tyne and Wear NE2 1TJ England
AMBLE DEVELOPMENT TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 CurrentflnanGlal year Unrestricted funds 2024 Restricted funds 2024 Totsl Total 2024 2023 Notes Income and endowments from: Donations and legacies Other trading activities Other income 1,737 111,998 3,230 133.489 135,228 111,998 3,230 80,960 112,120 5,767 Total Income 116.965 133,489 250,454 198,847 Expenditure on: Charitable activities 85,171 177,271 282,442 259,041 Totsl exp8ndlture 85.171 177,271 262,442 259,041 Net Incom81{expendlture) and movement In funds 31,794 (43.782) (11,988) (60,194) Reconclllation of funds: Fund balances at 1 April 2023 .2,471,580 43,782 2,515,362 2,575,556 Fund balances at 31 March 2024 2.503,374 2,503,374 2.515,362 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
AMBLE DEVELOPMENT TRUST STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prlor financlal year Unr8Stricted funds 2023 Restrlcted funds 2023 Total 2023 Notes Income and 8ndowments from: Donations and legacies Other trading activities other income 2,670 112,120 . 5.787 78,290 80,960 112.120 5,767 Total Income 120,557 . 78,290 198.847 Expendlture on: Charitable activities 129.868 129,375 259,041 Total expendlture 129,666 129,375 259,041 Net income and movement In funds (9,109) (51,085) <60,194) Reconciliation of funds: Fund balances at 1 April 2022 2.480,689 94,887 2,575.556 Fund balances at 31 March 2023 2,471,580 43,782 2.515,362
AMBLE DEVELOPMENT TRUST BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangiblo assets Investments 12 13 2,224,793 2,226,601 2,224,795 2,226,603 Current assets Debtors Cash at bank and in hand 14 2.248 297,979 24,423 290,075 300,227 314,498 Creditors: amounts falling due within one year 15 (21,648) (25,739) Ngt current assets 278,579 288,759 Total assets legs current Ilabllitios 2,503,374 2,515,362 The funds of the charity Restricted income funds Unrestricted funds 16 43,782 2,471,580 2,503,374 2,503,374 2,515,362 The company is entitled to the exemption from the audit requirement conlained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2008 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an aud(t of its finanaal statements for the year in question in accordance with section 476. These financial slalemenls have been prepared in accordance with the provisions applicable to Companies subject to the small companies regime. The financial st nts were approved by the trustee5 on ... PH Rigby Trustea Company registration number 02990425 (England and Wales) 10-
AMBLE DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles Charlty Infomiatlon Amble Development Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is included on the company information page. 1.1 Accounting convention The financial statements have been prepared in accordance wth the charity's governing document, the Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. (°.FRS 102°) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). 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 not to prepare a Ststent 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 neare8t £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. Preparatlon of consolidated finanGlal statements The financial statements contain information about Amble Development Trust as an indivldual company and do not contain consolidated financial information as the parent of a group. The charily is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. 1.2 Golng concern At the time of approving the financial statements, the trust8es have a reasonable expectation that the charlty 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. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectNes. Restricted funds are subject to specific conditions by donors or grantors 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. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income All income is recognised in the Statement of Financial Activities On the charity has entitlement to the funds, it 15 probable that the income will be received and the amount can be measured reliably. 1.5 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 classtfied under headings that aggregate all cost related to the category. Vvhere costs cannot be directly attributed to particular headings they have been allocat&d to activities on a basis consistent with the use of resources. 11
AMBLE DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued 1.6 Tangibl8 fixed assets 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.. Freehold land and buildings Plant and equipment Fixtures and fittings Computers not provided 40A straight line 250h reducing balance 250A reducing balance The gain or loss arising on the disposal of an asset is determined as the difference belMe&n the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Fixed asset inv8Stm8nts Investments are stated at cost in the accounts. 1.8 Impalrment of flxed assets Prop&rty, plant and equipment are reviewed for impairment if events or changes in circumstances indicate that the carrying amount of such assets may. not be recoverable. If there is an indicatlon of possible impaimient. the recoverable amount of any affected asset is estimated and compared against its carrying amount. Vvhere the estimated recoverable amount is lower, 8n impairment loss is recognised immediately in profit and1055. 1.9 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three month8 or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitles. 1.10 Taxation As a charity, the company is exempt from tax on income and gains to the extent that these are applied to charitable objects. No tax charges have arisen in the charity. 1.11 Employee beneflts 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 th8 employment of an employee or to provide temiination benefits. 1.12 Retlrement beneflts The charitable company operates a defined contribution pension scheme. Contributions payable to the Charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 1.13 Debtors Trade debtors are recognised at the sewement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due. -12-
AMBLE DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles (Contlnued) 1.14 Credltors and provlslons Creditors and provisions are recognised wher& the charrty has a present obligation resulting from a past event . that will probably result in the transfer of funds to a third party and the amount due to settlethe obligation can be measured or estimated reliably. Creditors and prowsions are normally recognised at their settlement amount after allowing for any trade discounts due. Crftlcal accounting estimates and Judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience 8nd olher factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognisad in the period in which the estimate is revised where the revision affects ¢Jnly that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donatlons and legacles Unrestricted Restricted funds funds 2024 2024 Total Unrastricted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Government agencies 1,737 1,737 133,489 2,870 2,670 78,290 133,489 78,290 1,737 133,489 135,226 2,670 78,290 80,960 Grants receivable for core actlvltles Northumberland County Council - Bord Waalk Community Foundation Northumberland County Council - Welfare project 58,125 2,510 58,125 2,510 78,290 78,290 72,854 72,854 133,489 133.489 78,290 78,290 13-
AMBLE DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from other tradlng actlvltles Unrestrlcted Unrestrlcted funds funds 2024 2023 Rent received Advertising 103,088 8,910 102,754 9,366 other trading activitie8 111,998 112,120 Expendlture on charltable actlvltles Charitsble Actlvltl8s 2024 Charltable Actlvltles 2023 Dlrect Costs Staff cost8 Depredatlon and Impairment Rent, rate8 and water Insurance Light and heat Telephone Postage and stationery Sundrie8 Dlrect costs Repalrs and renewals Legal and professional fees Bank charges and loan Sntere8t Management charges 49,881 . 7,342 3,429 9,113 21,873. 1.442 10,080 6,867 83,216 16,889 4,400 292 9,400 47.578 7,726 2,923 7,608 19,783 1,326 9,233 6.339 8,565 20.361 4,717 306 224,224 136.445 Grant funding of activities (see note 6) 36,323 121,000 Share of support and governance costs (see note 7) Govemance 1,895 1,596 262,442 259,041 Analysls by fund Unrestricted funds Restricted funds 85.171 177.271 129,666 129.375 262.442 259,041 14.-
AMBLE DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Grants payable Charltable Activities ' 2024 Charltable Activities 2023 Grants to individuals 36,323 121,000 Support Costs allocatsd to actlvltles 2024 2023 Govemance costs 1,895 1,596 Analysed betwaen: Charftable Actlvities 1,895 1,596 2024 2023 Governance costs compr188: Independent examiners fees 1,895 1,598 1.895 1,598 Net movement In funds 2024 2023 l The net movement in funds is stated after charglngl(credltlng): Depreciation of owned tsngible fixed assets 7,342 7,727 Trustees None of the trustees (or any persons connected wtth them) received any remuneration or benefits from the charity during the year. The charity paid £4.400 (2023: £4,167) to Nickalls Accountants Limited for bookkeeping and other accounting services during the year. DGS Nickall is a director and member of this company. No trustee or other person related to the charity had any personal intere8t in any other corrtracts or transactlons entered into by the charlty durfng the year (2023: £NII). 15-
AMBLE DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Charitsble activities Management and administration Total Employment costs 2024 2023 Wages and salaries Social security costs other pension costs 46,413 3,131 337 43,986 3,255 337 49,881 47,578 Amounts paid to key management personnel in the year totaled £24,350 (2023: £24,503). There were no employees whose annual remuneration was more than £60,000. 11 Taxatlon The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 12 Tanglble fixed assets Freehold land and bulldlngs Plant and Flxtures and equlprnent flttlngs Computerg Total Cost At 1 April 2023 Additions 2,120,026 137,769 5,534 59.817 82,660 2.400,282 5,534 At 31 March 2024 2,120,026 143,303 59,817 82,650 2,405,796 Depreclatlon and Impairment At 1 April 2023 Depreciation charged in the year 36,401 6,040 56,005 963 81.255 349 173,661 7,342 At 31 March 2024 42,441 56,958 81,604 181,003 Carrying amount At 31 March 2024 2.120.026 100,862 2,859 1,046 2,224,793 At 31 March 2023 2,120,026 101,368 3,812 1,395 2.226.601 16-
AMBLE DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Tangible fixed assets (Contlnued) Land known as Amble Welfare was legally transferred to the trust during the 200516 year from the local authority. This land is a recreation ground for the enjoyment of the people of Amble. This asset has not been valued in the accounts, given the difficulties in establishing a market value, as is permitted by the SORP. In addition, the Town Square was also transferred to the Trust in 2000. Again, due to the difficulty in establishing a market value, no value has been given to this asset in the accounts. 13 Flxed as8et Investments Other 5nvastments Cost or valuation At 1 April 2023 & 31 March 2024 Carrying amount At 31 March 2024 At 31 M8rch 2023 2024 2023 Other Investments comprise.. Notes Investments in 8ubsidiarie8 14 Debtor8 2024 2023 Amounts falllng due wlthln one year: Trade debtors Amounts owed by fellow group undertaking8 Other debtors Prepayments and accrued Income 387 5,453 9,517 118 1,765 9.453 2,248 24,423 15 Creditors: amounts falllng due wlthln one year 2024 2023 other taxation and social security Trade creditors Amounts owed to fellow group undertakings Accruals and deferred income 7,276 4,096 1,151 9,125 7,044 10,372 8,323 21,648 25,739 17.-
AMBLE DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Restrlcted funds The restricted, funds of the charity comprise the unexpènded balances of donations and grants held on tW8t subject to specific conditions by donors as to how they may be used. At 1 April 2023 InGomlng resources Resources At 31 March expended 2024 Bord Waalk Community Found8tlon Welfare project 43,782 58,125 2,510 72,854 (101,907) (2,510) (72,854) 43.782 133,489 (177,271) Previous year: At 1 April 2022 Incomlng resource8 Resources At 31 March expended 2023 Bord Waalk 94,867 78,290 (129,3751 43,782 Bord Waalk Fund This represents funding 'received for the development of a coastal bird sculpture trail along the Amble coastline. Communlty Foundatlon This represents funding received to upgrade IT equipment to support the running of the local CommltY newspaper. Welfare project This represents funding received towards improvements to the children's play ar8a. 17 Unrestrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been sel aside out of unrestricted funds by the trustees for specific purposes. . At 1 April 2023 Incomlng resources Resourc88 At 31 March expended 2024 Capital reserve General re5ep4e 2.226.601 244.979 5,534 111.431 (7,342) (77.829) 2,224,793 278,581 2.471,580 116,965 (85.171) 2,503,374 18-
AMBLE DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Unrestricted funds (Continued) Prevlous year: At 1 April 2022 Incomlng Resources At 31 March resources expended 2023 Capital reserve General funds 2,233,951 246,738 (T.350) _2.226,601 (122,316) 244,979 120,557 2.480,689 120,557 (129,666) 2.471,580 18 Anaty818 of net assets between funds Unre8trlcted funds 2024 Re8trlcted funds 2024 Total 2024 At 31 March 2024: Tangible assets Investments Current assetsl(liabilitiè8) 2,224,793 2,224,793 278,579 278,579 2,503,374 2,503,374 Unr88trlcted fund8 2023 Re8trlcted funds 2023 Total 2023 At 31 March 2023: Tangible assets Investments Current assetsl(Ilabllitie8) 2,226,601 2,226,601 244,977 43.782 288,759 a,471,580 43.782 2.515,362 19 Relatsd party tran88ctlons ' At the year end there was a balance of £1,151 owed from, AC)T Northumberland Limited (2023: £9,517 owed toADT Northumberland rnited), the subsidiary of the charity. 20 Legal status of the Trust The Trust is a company limited by guarantee and has no share capital. In the event of the charity being wound up. the liability in respect of the guarantee is limited to £1 per member of the charty.