Company registration number.. 3177091 Charity registration number.. 1059186 The Dudson Centre (A company limiLed by guarantee} Annual Report and Financial Slalements for the Year Ended 31 March 2025 cen
The Dudson Centre Contents Reference and Admlnlstratlvo 08tails Trustees, Report 2to4 Indapendent Examlner's Report Stalomenl of Financ181 Activllles Balance Sheet Notes lo tho Financial Statements 81014
The Dudson Centre Reference and Administrative Details Trustees IJ Dudson KCVO CBE MW Barnlsh K Shea-Tlpplng JK Milton J Hancock RD Mounsey 1059186 Charity Registration Number Company Registratlort Number 3177091 Tho Charity Is Incorporated In England. Hope Street Hanley Stoke-on-Trenl staffordshlre ST51DD Registered Office Independent Examinor CBV France Chart6red Accountant5 Graphlc Housa 124 Clty Road stoke-Dn-Tr8nt ST4 2PH Bankers Unlty Trust 4 Brlndley Place Birmingham B12JB Page 1
The Dudson Cantre Trustees, Report The Injslees, who are directors for thè purpDses of company law, present the gnnual report together with the financial stat8m&nts and auditors, r8POrt of the charitabl8 Company for tha year endèd 31 March 2025. ObJectlv68 and actlvltles Objocts and olms The objecls of thg charitable company are to preseNe for the benefit of the townspeopl& of the City of Stok&on-Trent in the county of StaffDrdshire and of the nation at large whatever of th6 historfcal, architectural and conslru¢lional heritage may exist in and around that city in the form ol buildings (including any building s8 defined in section 338111 of the Town and Country Plannlng Act 1990} of particular beauty or historical, archit8Ctural or constructlonal intèrest or any part thereof and to promote any other charltable purposes for the benaflt of th8 communlty in Stoke-on-Trent and, in particular, the advancement of education, the pre8ervation and protsction of good h8alth and r8li8f of pov8rty, distress and sickness, Publlc benefft Th8 trustses conlirm that they hava compllèd with the requirements of section 17 of thg Charillas Act 2011 to have due regard to the public benefil guidance published by the Charity Commission for England and Wales. Achievements and performance The charitable company has continu8d. to ansura that thè Dudson Centrè Is mainlalned to a high standard and provid88 an exc&ll8nt range of accommodation lo a variety of organisatlons frem the voluntsry oommunlty and social enterpris8 sector. Th8 Irusle&8 have continued to monitor the ongoing maintsnance requirements and sought to ensure adequate funding rernains in place to enable such maintenance work to b8 carri8d out. During the year, ongoing maintenance has boen carri8d out, r8medial work on the bottle kiln has b88n completed, and exploratory work h88 been carried out to assess repairs needed to the roof. Trustees continue to monitor th8 sinking fund and Ilkely future expenditure to ensure that it is sufficienl. The charity continues to delegats the day-to-day running of the Dudson Cenlre to the head tenant, VAST Servicas11920) (VAST), a registered ¢harily. Their performance is monitored at each Iruslee board meeting. Durlng tha year in r8view, occupanty levels have fallen due to financtal pressures on tenants and the ending of several large contracts formerty deliv8r8d using Europ8an fvnding. VAST condnuè to worf( to increase the occupancy levels. Financial rnview Th8 results for the year are shown in th& Statement of Financial Activities. Pollcy on ro$eNes The trustees have established a policy of building up a resetve to contribute to th8 costs of major repairs and renewals to the Dudson Centre buildings. This reseNe is monitored annually and the contribution to the reserv8 is adjusted accordingly. The trus18es are wnfident that reserves are building at a suitable lev61 to m8èt the requirements of the schedule of future major r8pairs and renewals. Page 2
The Dudson Centre Trustees. Report Trustee5 and offl¢ers The Irustoes and offIc8 serving during th8 ygar and since the year end wew as follows: Trusleos,. IJ Dudson KCVO CBE MW Bamlsh K Shea-Tlpplng JK Milton J Hancock RD Mounsgy Secretsry.. RG Hill (Resignad 4 December 2024) Strnr¢ture, governance and managamant Nature of goveming document The company Is Ilmlted by guarante8 and d088 not have share capital. It is a non-profit making organisation and a reglstered charity governad by its Memorandum and Arlicles of Association dated 25 March 1996, updated September 201n and November 2015. Rocrultment and appointment of trustees The Board of trustee5 conlalns a broad mix of skills thereby enhancing its effectiveness. When further tru8tses' recruitment Is necessary the critèria for new memb6rs ar8 daGid8d using a skllls audlt to 6nsur& tha board retains Its efflcacy. Inductlon and tralnlng of trusteas The presenl board of trustees are familiar with the charitable companvs work and with their responsibilities and requirefflents as board members. New board members meet vvith the Chair and members of the management leam of VAST Sejvices 119201 to ensure that they havo a full understandlng of the charity and Iheir responsibilities, Arrangements for Setting key managementper50nnel remuneration Tha kay managam6nt p&rsonnel are th8 seniDr manag8ment team of VAST Servic88 (1920} who are the managing tonants of The Dudson Centre. Their remuneration is set by the Board of Trustees of Vast Servicos (1920) and Is outside ol the control of The Dud$on Cenlre. Page 3
The Dudson Centre Trustees, Report Major rlsks and management of those risks Detalls of Ihe way the charlt2ble company is govemed are sgt out undar organlsatlonal struolure. Tru8lee board meeting$ regularly revtew the controls op8rating around tha organlsallon. Th6 malor rlsks Id8ntSf16d are community risks in the area Surrounding the bulldlng making the location undeslrable, occupancy leve18 and the related income implications for the managing tenant, under perforrmance of the managing tenant and the inability to recruit or relain appropriate trustees. The Board cartie5 oul a formal risk revlew process lo identify the prfn¢ipal rlsks fa¢lng the organlsallon. The dskg are scored and their relative importance agr60d and varlous actions taken to mitigate th8 risks are also idenlifi8d, The proc855 15 record8d and risks summarlsed together with an ongolng actlon plan In a fonnal rlsk managemant document. The board con('inually monitor and mitigate these risks at board meetings and review the sustainability and reputation of VAST Services 119201 as Ihe managing tenant as well as regularly reviewing the level of the deferred maintainance reserve which is held to allow for repair and upkeep of the buildings as required, Small companies provision statement This report has be8n prepar@d in accordance wilh the small cornpanies regime under th8 Compani98 Act 2006. The annual report was approved by the tNstees of the charity on and signed on its behalf by.. IJ Dud$on KCVO CBE Trustee Page 4
The Dudson Centre Independent Examlner's Report to the trustees of The Dudson Centr8 ('the Company,) I report la thg charity Iru8tee8 on rny examination of the a¢coun18 of the Company for thè year ended 31 March 2025. R8$ponslbllltlo8 and basls of roport As lh& charltys truste88 of the Company land also its dlrectors for the purposes of company lawl you are responsible for tha praparalion of the accounts In accordan¢8 wllh th8 rèquirements ol the Companies AGI 2006 {Yhe 2006 Act,). Having 8atisfi8d mys6EI that th8 accounts of th8 Company ar6 not requlred to b8 audited under Part 16 of the 2006 Act and are eligible for independent examinalion, I report In respect of my examination of your charlvs occounts as carried out under section 145 of the Charities Act 2011 ('Ihe 2011 ACVI. In carying out my examination I have followpd the Directions given by the Charity Commission under section 14515}(bl of the 2011 Act. Independent oxamlner's statement I have completed my 8xamination. I confirm that no matters havg coma to my atl8nllon In connèction With the examination giving me caus8 to bgliove that In any material respect- acoounling records were not kept in respect of The Dudson Centre as required by section 386 of the 2006 Aol., or 2. the accounls do not accord with those record$. or 3. thg accounts do not compty wth tha accounting raquirem8nts of section 396 of the 2006 AGt other than any requirement that thg accoun18 givg a 'tru8 and fair view, which is not a maller consid8r@d as part of an illdependent exarllinalion., or 4. the accounts hava not beon prepared In ac¢ordanc@ wlth lh6 methods and principles of the Slal¢ment of R8commend8d Practice for accounting and reporting by charities applicable lo charili8s preparing thelr accounts in accordancg wth the Financial Reporting Standard applicable in th8 UK and Republlc of Ireland (FRS 1021. I have no concems and have come across no other matters in ¢onneclion wilh the examination to which attention should be drawn in this report in order to enable a proper understanding of the &c¢ounts to be reach8d. CBii France Geens Ltd Chartered Accountants Graphic House 124 City Road Slokgvon-Trent ST4 2PH Date.. Paga 5
The Dudson Centre Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account.) Unrestricted funds Restricted fund$ Total 2025 Note In¢oma and Endowments from: Donations and legacies Charitable actlvltles 27,000 10,734 27,000 10,734 Total Income 37,734 37,734 Expendllurg on. Charilabb activities 56,772 156,7721 Total Expenditure 56,772 56,772 Net movement in fund8 (19,038) 119,038) Re¢onGlllatlon of funds Tolal funds brought forward 109,214 1,287,477 1,396,691 Tolal funds carried forward 12 90.176 1.287,477 1.377,653 Comparalivg Infomialion Total 2024 Unrestrlcted Rèstrfetéd Income and Endowments from: Donattons and legaci8S Charitabl8 activities 25,000 9,613 25.000 9.613 Totsl income 34,613 34,613 Exp&ndltur& on: Charitable activilies 47,077 47,077 Total endIture 47,077 47,D77 Net movoment In funds 112,464) 112,4641 Re¢onclllatlon of fund8 Total fttnds brought forward 121,678 1,287,477 1,409,155 Total funds carrted forward 12 109214 J,287,477 1,398,891 All Df the charitV8 activities derive from continuing operations during the above periods. The notes on pages 8 to 14 form an integral part of Ihese finanGial stalernent5. Pag8 6
The Dudson Centre (Registratlon numb8r: 3177091) Balance Sheet as at 31 March 2025 2025 2024 Note Flxed assets Tangible assets 1,287,477 1,287.477 Current asset5 Cash al bank and in hand 92,760 110,039 Credltors: Amounts falllng due wlthln one year Net current assets 825 90,176 109,214 N6t asgets 1377,653 1,396 691 Funds of the charlty: Restricted 1,287.477 1.287,4TT Unrestrlcted Income funds Designated Funds General Funds 71,440 18,736 93,657 15,557 Tolal unrestricted funds 90.176 109,214 Total funds 12 1,377.653 1,396,691 For the financial year ending 31 March 2025 the charlty was entitled to exemption from audit under seclion 477 of the Companles Act 2006 relatlng to small companies. Directors, re$ponsibililies- The members have not required the charity to obtain an audit of its accounts for tho year In question in accordance with Section 476,. and The directors acknowl8dgo their responsibilities for complying wlth the requirsmènts of th8 Act with respect lo accounting records and the preparation of accounts. Thefi ancla statements on page5 6 to 14 were approved by the Iruste&s, and authorlsed for Issue on and signed on their behalf by.. AW Bamish TNstee The notes on pages 8 to 14 form an Inl8gral part of these financial slalerr&nts. Page 7
The Dudson Centre Notes to the Financlal Statements for the Year Ended 31 March 2025 1 Accounting policies Summary of Slgnlflcant accountlng poll¢l6s and k8y accountlng ostlmatos The prln¢ipal accounting pollcles applled In the preparallon of these financial sla18mants are sat c)ut below. Thesa policies have be8n consistently applled to all the years presented, unloss othetwis& ststed. Stat6mont of ¢ompllanrA The financial Statements have been prepared in accordanc6 wlth Accounting and Reportlng by Charities.. statement of Recommended Practice applicable to ¢haritie8 preparing th&ir accounts in accordance wllh the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {8ff8ctive 1 January 20191- (Charities SORP IFRS 1021), the Financial Reportlng Standard applicable in the UK and Republic of Ir61and (FRS 102), They also comptywith tha Companies Acl 2006 and Charities Act 2011. Basls of prèparatlon "rhe Dudson Centre meets the definition of a public benefil entity und8r FRS 102. Assots and liabili118s ara initially recognised at historical cost or transaction value unless olhetwise staled in the rel8vant accounting pollcy notes. These accounts are prepared In sterllng, whlch Is the functional currency of Ihe charity. Monetary 8mount8 in thèse flnancial slalements are rounded lo th8 nearest £. Golng concorn The linancial 8tatemenls have been prepared on a going concern basis. Tho trustees assess whether the use of going concern is appropriate i.e. whether thBre are any material uncertainties related to events or condlllons that may Cast significant doubl on the ability of Ihe charity to continue as a golng concern. The trustees make this assessment in respect of a period of one ygar from the date of approval of th8 financial statements. In making this assessment the trustees monitor the fiiiancial health of VAST 8ervlces119201, who ar& tha only tenant of the centre. Judgem8nts In preparing the acwunls no judgements have been made involving estimates In tho process of applying the charivs accounting policie5 with the exception of those disclosed in the depr8ciation accounlng pollcy. Th8 annual impairment review of the buidings is carried out by the Iruslees based on th8 insurance valuation. No a8sumptsons concerning the future have a significant risk of causing material adjustmgnl lo the carrying value of assets and Ilablllfjos wilhln the next reportlng period. Income and endowm6nts All In¢omlng resources are included in the statement of financial activities wh&n Ihe charily is entitled to tho in¢ome and the amount can be quantified with reasonable accuracy. The followno sp6clfic polici8s ara applied lo P8rll¢ular categories of income.. Voluntary Income is rec81V8d by way of grants, donatlons and glfts and is included in full in the stalement of flnancial a¢tiMties when receivable. Grants, where entidement Is not conditional on the delivery of a speclflc performanco by Ihe charfty, are recognised when the chattty becomes unconditionally entitled the grant. Donated services and facllltles are Included at tho valu6 to the charity when thls can be quant(fied. The value of s6rvlc8s provided by volunteers has not been included. Expendlture Expenditure is induded on an accruals basis as a liability is incurred. Page 8
The Dudson Centre Notes to the Financial Statements for the Year Endod 31 March 2025 Charitablo actlvltles Ch8rllable expendlture comprlses those costs incurrod by the charlty In the dellvery of Its a¢tlvttlg5 and s¢rvi¢es for its beneficiartes. It includ8s both costs that ¢an be allocatad directly lo such activlrfes and those co818 ol an Indlrect naturg ngcessary to support them. Govèrnanc@ costs These include the costs attributable to the charlty's compllance with ¢onstltutlonal and statubry requlremenls, including audiL strategic management and Iruste9s meetings and reimbursed 8xpenses. Taxatlon The charity Is consldered to pas8 th8 tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it Meets the definition of a Gharilable Company for UK corporatlon lax PuoSes. Accordingly, the charity is exempt from taxation in respect of income or capital galns re¢elved withln iètegorles covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Secllon 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applled excluslvely to charitable purp058S. Tanglble flxed assets Individual fixed assets costing £1,000 or more are initially re¢ordod at ccsl. Deprociation and amortisation Depreclatlon 1$ provided on tangible flxod assets so as to wri18 off the cost or valuation, 188s any estimated resldual value. ovar Ihalr exp8Ctad usaful onoMiC life as follows: Asset ¢la$s Buildings Fixtures and fittings D&pr&clatlon mothod and ratg annual impairment review by tru$lees 20 /0 Straight line basis Cash and cash equivalgnts Cash and cash equivalents comprisa cash on hand and call deposits, and other shorl-term highly liquid investments that are readily convertiblo lo a known amount ol cash and are subj8Ct to an insignificant risk of change in valua. Fund a¢untIng Unrestricled income fvnds are general funds that aré available for usè at the trustaes discretion in furtherance of Ihe objectives of the charity. Designated funds aro unreslricled funds set aslde for spe¢ific purposes at the discretion of the tstee9. Restricl8d Income funds are those donated for use in a particular area or for specific purpos88, the use of which Is restricted lo that area or purpose. Page 9
The Dudson Centre Notes to the Flnanclal Statements for the Year Ended 31 March 2025 2 Income from donallons and l&gaclo8 Unr@strlctad fun(ts Designatod Total funds Other income from donatlons and legacies 27,000 Total for 2025 27,000 27,000 Total for 2024 25,000 25,000 3 Income from charitable activities UnrestrlGted funds General Total funds Rents and Insurance5 10,734 10.734 Total for 2025 10,734 10,734 Total for 2024 9.613 9.613 4 Expondltur• on charltable actlvltles Unre8trlcted funds Dosignatod General Total funds Professlonal Charges Rents and Insuran PresgNation ol The Dudson Centro Governance Cosls 34 6,534 34 6,534 49,217 987 49.217 987 Total for 2025 49.217 7.555 56,772 Total for 2024 7,017 47,077 5 Govérnahce costs Unre8trl¢tod funds General Total funds Independent axaminer fees Examination of the financial slalements 915 915 Total for 2025 915 915 Total for 2024 891 891 Page 10
The Dudson Centre Notes to the Financial Statements for the Year Ended 31 March 2025 Governance costs are all allocated to the costs of Charitable Activitie8. 6 Truste88 r•mun8ratlon and gxpgn$•s No tru51ees, nor any persons conn8ct8d with them, have received any r8mun8ratlon from thè charlty during the year. No trustees havg received 8ny reimbursed expenses or any olhar benefits from the charlty durlng the ar. 7 Tanglbla flxad ass•ts Land and bulldlngs Fumiturè and oqulpmant Tolal Cost At 1 Aprll 2024 2,408,519 39,588 2,448,107 At 31 Mah 2025 2 408 519 2,M8,107 Dgprociation At 1 Aprll 2024 1,121,042 39,588 1,160,630 At 31 March 2025 1,121,042 39,588 1.160,630 Net book valu8 Al 31 Mar¢h 2025 1,287,477 1.287,477 At 31 March 2024 1,287,477 1.287,477 8 Cash and ¢a$h equivalents 2025 2024 Cash at bank 92,760 110,039 Page11
The Dudson Contra Notes to the Financial Statam8nts for th8 Year Ended 31 March 2025 9 Credltors: amounts falling du8 Within ono yoar 2025 2024 ACCalS 2,584 825 10 Related party ¢ransa¢tlons During theyear the charity made the following related party tran5aclions'. VAST S0nri¢os11920) (VAST Servic8s119201 is a member ofThe Dudson Centre} In ils role as head tenant of the Dudson Centre VAST Services (19201 collects s8rvice charges from sub tenants which include an amount to fund the upkeep and maintenance of the propety. During the year £27,000 (2024 £25,000} was received from VAST Services (19201 as a ¢ontribulon lo the designated funds In respect of thls. £10,734 was also receivable for rent and insurance (2024 £9,613),. At the balan¢e sheel date the amount due tolfrom VAST Servi¢es119201 was £NII {2024 - £NII). 11 Control Relatlon8hip 'rhe Charity is controlled by the Trustees. 12 Funds Balance at 1 Aprll 2024 In¢oming resour¢es Resources expended Balance at 31 Mar¢h 2025 Llnrastrlctgd funds General General Funds 15,557 10,734 17.5551 18,756 Doslgnated Deslgnated Fund8 93,657 27,000 {49.217 71,440 Total unrestricted funds 109,214 37,734 156,7721 90,176 Ragtrlct•d funds Capital Reserve 1,287,477 1.287,477 Total funds 1,396 691 56,772 1377,653 Page 12
The Dudson Centre Notes to the Financial Statements for the Year Ended 31 March 2025 omparatlve Information Balance at 1 April 2023 Incomlng r8sources Resourc•8 expendod Balance at 31 March 2024 Unrestrl¢ted funds General General Funds 12,961 9.613 {7,017) 15.557 De$ignatgd Désignatgd Funds 108,717 25,000 40,080 93,657 Total unr6strIed funds 121,678 34,613 (47,077} 109,214 Roslrl¢tgd Capital Reserve 1287 477 1287477- Totsl funds 1,409.1 34,613 47,077 1,396.691 Tha specific purposes for which the funds are to be applied are as follow$'. Capital Rese)ve The Capital Ros&rv6 r6presents the cost of the freehold land and buildings18ss depreciation lo date. Doslgnaled Fundg are for the upkeep and maintenance of the property. Exp6nditure from the designa18d lunds is planned based on a schedu18 of ropal and maintenance and a calculalion of Ihe required sinking fund contrrbulion from VAST Services (1920) each year is made based on this plan. Page 13
The Dudson Centre Notes to the Financial Statements for the Year Ended 31 March 2025 13 Analys1$ of net assets between funds Tot81 funds at 31 March 2025 Unrestrlcled funds General Designated Restrlcted funds Tangiblè flxod as$ets Currenl assets Current liabilities 1,287,477 1,287,477 92,716 2,540 21,276 2,540 71,440 Total nel a88ets 18,736 71,440 1,287,477 1,377,653 Total funds at 31 March 2024 Unrestrlcted funds Goneral Designated Restricted funds Tangible fixed assets Curr8nt assets Current liabilities 1,287,477 1,287,477 110.039 825 16,382 825 93,657 Totsl not assets 15,557 93,657 1.287,477 1,396,691 14 Operatlng l•asè commltmants-lossor The totsl value of future minlmum lease payments recelved was as follows.. 2025 2024 Within one year In two to ftve years In over five years 4,368 17,472 53,728 3,252 13,008 75.568 60.536 15 Charity status The charlty Is a charity Ilmlted by guarantee and consequently doss not hav& share capital. Each of the trust Is liable to contribute an amount not 8xceeding £10 toward& th8 assets of th8 charity in the 8vent of it being wound up while he or she is a member or vwthin one year after he or 8hg ceases to be a member. The address of Ils règlstgrgd offlc815'. Hope Street Henley Stok6-on-Trent Staffordshire ST5 1DD Page 14