Cornpany registrdtion number. 3177091 harity registration number. 1059186 The Dudson Centre IA company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024 du'ds cen
The Dudson Centre Contents Reference and Adminislralive Delalls Trustees, Report 2104 Indep8ndont ExamineVs R8port Slalement of Finan¢lal AcllvltieB Balance Sheel Notes to the Financial Statements 8t014
Th8 Dudson Centre Reference and Administrative Detalls Trustées IJ Dudson CBE MW Barnish K Shèa-Tlpping JK Mlllon J Hancock RD Moun8ey RG Hill Secretary Charlty Reglslratlon Number 1059186 Company Reglstratlon Number 3177091 Thè charfty is incorporated In England. Hope Slreet Hanley Stoke-on-Trent Staffordshl STS1DD R6glst•r&d Oflle Independent Examiner CBV France Chartergd Accountants Graphlc House 124 City Road stok8-on-Trent ST4 2PH Banker8 Unity Trusl 4 Brindley Place Birmingham B12JB Pagè 1
The Dudson Centre Trustees, Report The Iruslee5, who are dir9clors for the purpose8 of company law, prèsent thè annual report together with Ihg nancial statements and auditors, report of the charitablg company for the year @nd@d 31 March 2024. Objectlves and actlvllles Objects and aims The obj8cls of th8 charitable company are to preserve for Ihe benefit of the townspeople Df the City Df Sloke-on-Trgnt In the county of Stafford5hlre 8nd of the natlon al large whatever of the historical, architectural and constructional heritage may oxlst In and around that city in the fomi of buildings (including any building as defined in secllon 338{11 of the Town and Country Plannlng Act 19901 of parti¢ular beauty or hislorScal, archileclural or constructional inter8sI or any part ther8of and to promoto any olhar charitable purposes for the benefit of the community in Stoke-on-Trent and, in particular, the advan¢6menl of education, the pres8rvation and protection of good health and relief of PDV6rty, dlslress and sickn8SS. Puhllc bon•flt The Iruslees confirm that they have complied with the requirements of 88clion 17 of th& Charities Act 2011 10 have due regard to the public benefit guidan published by the Charity Commission for England and Ilvales. Achlevements and performan¢e The Charilable company has continued to ensure that the Dudson Contre is maintained to a high standard and prowdes an excellent offer of aCcoM(all0n lo a variety of organis81ions from tha voluntary communlty and soclal enlerprlse sector. The trustees have continued to monitor the ongoing maintenance requir8m8nts and Sought lo ensure adequate funding remains in place to engble such mainlenance work lo be carried out. During the year communal areas have been decorated and ongoing Maintenan Carried out alongside a larg8r piece of remedial work on the bottle klln, Trustees continue lo monitor the sinking fund and likely futijre expenditure. The charity ¢onlinu8s lo delegate the day to day running of the Dudson Centre lo the head tenant, VAST Services 11920) IVASTI, a r8glsler6d charity. Th8ir perfomiance is monltored al each trustee board meeting. During the year in revlew occupancy Iovols have fallan due to f1nanclal pressures on tenants and the ending of S8v8ral largg contracts form8rly delivered using European fundlng. VAST continue to work to increase the OCGupancy levels once morg. Financial review The results for the yoar are shown in thg Slalemenl of Financial Activllles, PoJl¢y on r¢$•rwos The Irusl8es have estsblished a policy of building up a reserv@ to contrlbutg to the costs of major rapalrs and renewals lo the Dudson Centre buildings. This reserve is monitored anr)ually and the contribution to the reserve is adjusted accordingly. The trustees are confident Ihat reseNes are bulldlng at a sultable level lo meet the reqiiirements of the SGhedule of future major ropairs and renewals. Page 2
The Dudson Centre Trustees. Report Tru¥tee$ end offlcers The Iruslee$ and officers Seing during the year and since the year end were a$ follows., Trustees., IJ Dudson CBE MW Barnish K Shea-Tipping JK Mllton J Hancock RD Mounsey lappoinled 12 October 20231 Secr8tary', RG Hil Stru¢ture, governance and management Nature of goveming document The Gompany Is Ilmlled by guarantee and does not have Share Gapllal. It15 a non-profit making organisatlon and a reglstered charity governed by tts Memorandum and Artlcles of Assoclatlon dated 25 Mar¢h 1996, updated September 2010 and November 2015. Recrultment and appolntment oltnistees The Board of Iruslees contain8 a broad rllix of skills thereby enhancing ils effectiveness. When furthgr Iruslees, recnjitment 18 necessary the criteria for new members are decided using a skills audit to ensure the board r8tains its efficacy. Induction and training of truslees The pros@nl board of trugt6es ar6 famlllar wlth th@ charitabla ¢ompanVs wot* and wlth thelr responslbilltl&s and requlr8men18 as board members. New board members meet with the Chalr and members of Ihe managomenl team of VAST Services 119201 to en8ure that they hav8 a full understanding of the charity and Ihelr responsibilities. Arrangements lor settlng key managementpersonnel remuneratlon The key management personnel are th8 senior management team of VAsf Services 119201 who are the managing tenanls of The Dudson Centre. Their remuneration is set by the Board of Trustees of Vast Services 119201 and Is oulslde of the ntrol of The Dudson Centr8. Page 3
The Dudson Centre Truste8s' Report Major risks and n7anagement of thos8 risks Details of the way the charitable company is gov8med are set out under organlsallonal slru¢turo. Trusloa board m8gllngs r&gularly r6view the ¢ontrols operallng around th& organi8ation. The major risks identified arg occupancy levels and lated incom8 implications for the managing 18nanl, und6r performiance of the managing tenanl and the inability to recruit or retaln approprlate truste@s. The Board carries Out a formal rl8k review process to identify the princlpal rlsks faclng the organisation. The risks are s¢ored and Ihelr relative 1rnportan agreed and varfous a¢tlons taken lo mitigate Ihe risks are also identified. The process is recorded and risks summarfsed together with an ongoing action plan In a formal risk management do¢umont. The board continually monilor and mitigate these risks al board m88ting8 and reviaw th8 Sustainability and r6putation of VAST Services (1920) as the managing tenant as well as regularty reviewing the level of the deferred mainlainance reserve which is held lo allow for repair upkeep of Ihe buildings as required. Small companies provision statement This r8POrt has been prepared in accordance with the 8mall companles reglme under the Companles Act 2006. The annual report was approved by the trustees of the rharily on I1.l.12Q.wd signed on ils behaK by.. RG Hill Company Secret Page 4
The Dudson Centre Independent Examiner's Report to the trustees of The Dudson Centre ('the Company.) I roport lo the charSty Irusl889 on my examination of the accounts of the Company for the year ended 31 March 2024. Responslbllltles and basls of report As the charity's trustees of the Company (and also its directors for thg purposes of company lawl you are r9sponsible ft)r the preparation of the accounts In accordance with the requiremants of tha Companles A¢1 2006 I'the 2006 Act,). Havlng satlsfied myself that the accounts of the Company are not required to be audiled undsr Part 16 of the 2006 Act and are eliglble for independent examination, I report in respect of my examination of your charity's account5 as canied out under section 145 of the Charllles Act 2011 I'the 2011 Act,), In carrying out my axamlnatlon I havè followgd thé Directions glven by Ihe Charlty Commlssion under section 14515llbl of the 2011 Act, Ind6pend8nt examln6r's statomont I have completed my examination. I confimi that no mallers have come lo my alténllon In connection with th8 examlnation giving me Gause to believe that in any material respe¢l'. accountlng ra¢ords re not kapl in respect of The Dudson Centre as required by section 386 of the 2006 Act., or 2. tha accounts do not accord with those records; or 3, the acoounts do not comply with the a¢¢ounling requirerllents of Section 396 of the 2006 Act other than any requiremenl that the accounts give a 'lrue and fair view, which is not a matter considered as parl of an Independent examlnation. or 4. Ihe a¢¢ounls have not been prepared in accordance with Ihe methods and princlples of the StatoM6nt of Recommended Pra¢li¢e for accounting and reporting by chariligs applicable ID charities preparing thelr accounts In accordance with the Financial Fieporling.Slandard applicable in the UK and Republic of Ireland IFRS 1021. I hav8 no concerns and have come across no other matters in connection wtth the examination lo whiGh allenlion should b8 drawn in this report in order to enable a proper understandlng of the accounts lo be reached. CBV Franc8 Geens Ltd Chartered Accountsnts Graphic Hous8 124 City Road Stoke-on-Trent ST4 2PH Date:.. Pag8 5
The Dudson Centre Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account.) Unre$trl¢ted funds Ro$tricted funds Total 2024 Note Income and Endowments from.. Donatlons and legaclas Charitable activities 25,000 9,613 2S,000 9,813 Total In¢omo 34,613 34,613 Expenditure on: Charltable activilias 47,077 47,077 Total Expgndilure 47,077 147.077 Nel movement In funds 112,464) 112,4641 Re¢on¢iliation of funds Total funds brought forward 121,678 1,287,477 1,409,155 Totsl funds ¢arrled forward 13 109,214 1,287,477 1,396,691 Comparatlve Informatlon Total 2023 Unrestricted Restricted Note Income and Endowments *rom: Donations and legaci6S Charitable activilies 35.000 8,698 35,000 8,698 Total incom8 43,698 43,698 Expenditure on., Charltable acllvllles 23,458 23,458 Total èxp8ndilure 23,458 Net movement in funds 20,240 20,240 Reconclllation of funds Total funds brought forward 101,438 1,287,477 1,388,915 Total funds carried forward 121,678 1,287,477 1,409,155 All of the charitys activS1ies derive from continuing operallons durlng the above two periods. The not85 on pag&s 8 to 14 form an integral part of these flnan¢lal slalemenls, Page 6
The Dudson Centre (Registration number: 3177091) Balance Sheet as at 31 March 2024 2024 2023 Note Flx8d assets Tangiblè assots 1.287,477 1,287,477 Currant assots Debtors Cash at bank and In hand 10,000 121,634 110039 110,039 131,634 Cr•dltors: Amounts falllng du• wlthln one ar 10 825 9,956 Net cuent assets 109,214 121,678 Net assets 1,396,691 1,409,155 Funds of the ¢harlty". Restricted 1,287,477 1,287,477 Unrostrlcled Incom• funds Designated Funds General Funds 93,657 15.557 108,717 12,961 Total unrestricted funds 109,214 121,678 Total funds 1,396,691 1,409,155 For the finan¢lal ygar ending 31 March 2024 th8 charity was entitled to exemplion from audlt under section 477 of th8 Companies Act 2006 relating to small companles, Directors, responsibilities- The members have nol required Ihe charity to obtain an audit of its accounts for the year in question in accordance with seotion 476- and The direclors acknowlgdgo their r8spon8ibilitl88 for complying with the requlrements Df the Act wllh respect to accounting records and the preparation of accounts. anclal slalemenls on pages 6 10 14 were approved by the trustees, and authorisod for issue on .1,21&f.11¢and signed on their behalf by: IJ Dudson CBE Trustee The notes on pages 8 to 14 form an integral part of these financial slalements. Page 7
The Dudson C8ntre Notes to the Financial Statements for the Year Ended 31 March 2024 1 Accounting poli¢i98 Summary of 8ignifi¢ant a¢¢ountlng pollclgs and key ac¢ountlng •stlmates The prlncipal aoUntIng policle5 applled in the preparation of Ihese flnancial statements are set out below, These policies havè bean consls18ntly applied lo all the yèars presented. unless oth8rwse stated. Statomant of compllanca The financial slalements have been prepared in accordance with Accounting 8nd Reporbng by Charilies., statement of Recommended Practice appliGable to charities preparing their accounts in accordance with the Flnanclal Reporilng Standard appllcable In the UK and Republlc of Ireland IFRS q021 (effective 1 January 20191- (Charities SORP (FRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. Thgy also comply with the Companies AGt 2006 and Charitl8s Act 2011, Basls of preparatlon The Dudson Centre meets the definition of a public benefit enlily under FRS 102, Assets and liabilities are initially recogni5ed al historical Gost or transaction value unless otherwse stated in the relevant accounting policy notes. These accounts are prepared In sterling, whlch 18 the functlonal currency of the Charlty. Monetary arnounts In these financial statements are rounded to the nearest £. Golng con¢orn The financial statements have been prepared on a going concern basis. The trustee5 assess whether the use of going conGern 15 appropriate i.e. whether there are any material uncertalnties related to events or conditions that may cast signlficanl doubl on the ablllty of the ¢harfty to contlnue as a going concern. The trustees make Ihls assessment In respect of a perlod of one year from the date of approval of tho financlal statoments. In Ynaking this ass8ssmant th8 Iruslees monitor the financial h8allh of VAST servlc88 (1920), who are the only lenanl of the contre. Judgements In preparing the accounts no judgements have been made involving estimates in the process of applying the charily's accounting policie5 Wlth the exception of those disclosed in the depreciation accounting policy. The annual impaiment review of the buidings 1$ Carried out by the trustees based on the insurance valuation. No assumptions con¢ernlng the future have a slgnlfi¢ant risk of causlng matorial adlustmenl to tho carylng valu8 of assets and liabilitles wilhln the next reporting perlod. Income and ondowments AEI incoming resources are Included in the slalemenl of financial aclivilie5 when the charity Is entitled lo the Income and the amount can be quantlfied wlth reasonable accuracy. The follovving specific policies are applied lo particular categorles of income.. Voluntary Incoime Is received by way of grants, donation5 and gifls and is inoluded in full in the slalement of financial activitlgs when recèivable. Grants, where ènlitl@menl is not conditional on the deliv8ry of a Specific performan¢$ by tho ¢harily, ar9 r9cognlsed wh$n tho charity becomes unconditionally 8nUUod lo the grant. Donated services and facilities are included at th8 value lo th8 charlty when this can be quantified. The value of servicas provlded by volunl88rs has not be8n included. Expenditur8 Expenditure is Included on an accruals basis as a liabillly Is Incurred. Page 8
Tha Dudson Centre Notes to the Financial Statements for the Year Ended 31 March 2024 Charltable actlvltles Charitable expenditure comprises those costs incurred by the charlly In the d&llvery of Ils activities and service8 for it5 beneficiaries, It includes both costs that can be allo¢aled directly to such acllvllies and those costs of an Indlrecl nature necessary to 3UPPOrt them. Governance ¢osts These include tha costs attributable to the charity's compllan¢g wlth constitullonal and slalulory requirements, includlng audll, strategic management and Irust8es meetings and reimbursed axpenses. Taxatlon The charlty Is consldored to pass the tests sal out in Paragraph 1 Schedule 6 of the Flnance Act 2010 and ther8for& It m&6ts th$ d&flnltlon of a charltablè company fctr UK corporatlon tsx purposes. A¢cordlngly, the Gharlly is exempl from taxation in respect of income or capltal galns rocglvod within cat8gories covered by Chapter 3 Part 11 of th8 Corporation Tax Act 2010 or Section 256 of the Taxation of Charg8abl8 Galns Ad 1992, to the extent that such income or gains ar8 applied exclusively ID charitable purposes. Tangible fixed assets Individual fixed assets costing £1.000 or more are Inlllally recorded al cost. Depr•¢latlon and amortlsatlon Depreciation 1$ provided on tangible fixed assets so as to wrile off the cost or valuatlDn, 1888 any e8timated resldual value, over their expected useful eoonomic life as follow5., A$$et clas¥ uildings Fixtures and fittings Depreclatlon mothod and ratè annual impairment review by Iruslees 2DYo Stralghl Ilne basls Cash and ¢a$h equlvalonts Cash and cash equivalents comprise Cash on hand and call deposils, and oth8r short-term highly liquid investments that 8re readlly convertible to a known amount of cash and are subject to an insignificant risk of ¢hange in value. Trado creditors Trade creditors are obligation8 to pay for goods or seNices Ihat hav6 b66n acqulrad in the ordinary course of busineBS from suppliers. Accounts payable are classified as current Ilabililies if the charity doe5 not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right ID defer sgtllement for al least 1ve months after the raporting date, they are presented as non-cuttent liabilities, Trade creditors are recognised initially at the transaction price and subsequently measured at amortlsed cost uslng the 8ffective int8rgst mgthod. Fund accounting Unrestricted income funds are general funds that ar8 availabla for u8e al the trustees discretion In furtherance of the objectives of the Charity. D8signated funds are unrestricted funds sat aslde for speclfl¢ purposes al th8 discrètion of the trustees, R8Stricled income funds are those donated for use in a particular area or for specific purposes, the use of which Is restrf¢19d lo that area or purpose. Page 9
The Dudson Centre Notes to the Financial Statements for the Yoar Endad 31 March 2024 2 Income from donations and legacles Unrestrictod funds Dosignatèd Total funds other income from donatlons and legaciès 25,000 25.000 Total for 2024 25,000 25.000 Total for 2023 35,000 35,000 3 Income from charitable activities Unrestrlcted funds Gonoral Total funds Rents and insurances 9,613 9,613 Total for 2024 9,613 9,613 Total for 2023 8,698 8,698 4 Expondlture on charltable actlvltles UnrBstricted funds Designated General Total funds Professlonal Chargos Rent5 and Insurance Preservation of The Dudson Centre Governance Costs 197 5,857 197 5.857 40,060 963 40,060 963 Total for 2024 40,060 7.017 47.077 Total for 2023 16,574 6,884 23,458 5 Governance costs Unrestrlcted funds General Total funds Ind8p8ndenl examiner fees Examination of the financial statements 891 891 Total for 2024 891 891 Total for 2023 774 774 Page 10
The Dudson Centre Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Govemance costs are all allocated lo the costs of Charltable Acllvilies. 6 TrLfStO0s rèmuneratlon and 8xpenses No truslggs, nor any persons connected wllh them, have recelved any remunerallon from the charlty during the year. No trustees have received any reimbursed expense8 or any other benefits from the charity during the year. 7 Tanglble flxed a$set$ Land and building$ Furnituro and equipment Totsl Cost Al 1 April 2023 2,408,519 39,588 2 448,107 At 31 March 2024 2,408,519 39,588 2,448,107 Depreclatlon At 1 Aprtl 2023 1.121.042 39,588 1,160.630 At 31 March 2024 1,121,Q42 39,588 1,160,630 Net book value At 31 March 2024 1,287 477 1,287 477 At 31 March 2023 1,287,477 1,287,477 8 Debtors 2024 2023 Accrued Income 10,000 9 Cash and cash equlvalenls 2024 2023 Cash 91 bank 110,039 121,634 Page11
The Dudson Centre Notes to the Financial Statements for the Year Ended 31 March 2024 10 Creditor¥: amounts falling dug within one year 2024 2023 Trade credilors Accruals 9,206 750 825 825 9,958 11 Related party transactions During tha year the charlty mad6 th6 follong related party tr8nsactlon8'. VAST Servlces11920) IVAST Servic8s119201 is a member of The Dudson C8ntra> In ils role as head tenant of the Dudson C8ntr8 VAST Service8119201 collects s8rvice charges from sub t8nanls which include an amount to fund the upke8p and maintenance Df the property. During the year £25.000 {2023 £35,000) was receiv8d from VAST Sgrvices11920} as a contribution to ths designalsd funds in r8sp8ct of this. £9,613 Vvas also receivable for renl and in3uran¢e (2023 £8,698).. Al the balance sheet date the amount due lolfrom from VAST Services {1920} was £Nil12023 - £10,000), 12 Control Relatlonshlp The Charity is controlled by the Trustees. 13 Funds Balance at 1 Aprll 2023 Incoming sources Resources expended Balance at 31 Mar¢h 2024 Unrestrlcted funds General Gon6ral Funds 12,961 9,613 {7,017) 15,557 Designated Designat8d Fund8 108,717 25,000 40,060 93.657 Total unrestricted funds 121,678 34,613 147,077} 109,214 Restricted funds Capital Reserve 1,287,477 1,287,477 Total fund8 1,409,155 34,613 47,077 1,396,6g1 Pagè 12
The Dudson Centre Notes to the Flnancial Statements for the Year Ended 31 March 2024 Comparatlva Informatlon Balance at 1 Aprll 2022 Incoming resourGe$ Resources expended BalanGe at 31 March 2023 Unrestrlcted funds Gènoral General Funds 11,147 8.698 {6,884) 12,961 Doslynated Designated Funds 90,291 35,000 16,574 108 717 Total unrostrl¢t8d funds 101,438 43,698 (23,458) 121,678 Restricted Capitsl R888rve 1,287,477 1,287,477 Totsl fund5 1,388,915 43,698 23,458 1409,155 The sp8cific pury)oses for which Ihe funds are lo be applied are as follows.. Capital Reserve The Capital Reserve represents the cost of the fraohold12nd and buildingslgss depreciation lo dale. Designated Funds are for the upkeep and malnlenanc& of the prop8rty. Expenditure from the designated funds Is planned based on a schedul8 of repalrs and maintgnance and a calculalion of the required slnklng fund conlrlbutlon from VAST SeNlces11920) each year is made based on this plan, Page 13
The Dudson Centre Notes to the Financial Statements for the Year Endad 31 March 2024 14 Analysls of net a8$ets between funds Total funds at 31 March 2024 Unrastrictod funds General Designated Restrlctgd funds Tangible fixed assets current assets Current liabiliti8s 1,287,477 1,287,477 110,039 825 16,382 825 93,657 Total net assets 15,557 93,657 1,287,477 1,396,691 Total funds at 31 MarGh 2023 Unrestricted funds Ggnaral Designated Re&tricted funds Tanglblo fixad assets Current assets Current liabilities 1,287,477 1,287,477 131,634 9,956 22,917 9,956 108,717 Total net assets 12,961 108,717 1,287,477 1,409,155 Th@ Charity is controll8d by the Tru$lees. 15 Operating lease commltments- lessor The total value of future minimum lease payments received was as follows: 2024 2023 Within on6 year In Iwo lo five years In over five years 3,252 13,008 44,276 3,252 13,008 47,528 16 Charlty status The charity is a charity limited by guarantee and consequendy does not have share capital. Each of the trustees 18 liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of il belng wound up while he or she is a membèr or wSthin on8 yaar aftar he or she ceases lo be a member. Ths address of ils registered office is-. Hope Slreel Hanley stoke-on-Trgnt staffordshirg ST5 1DD Pag8 14