REGISTERED colvANy NUMBER: 03208721 (England and Wale5) REGISTERED CHARITY P4UMBER: 1059761 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR GLENDALE GATEWAY TRUST J.H. Greenwood & Company Chartered Accountants Ava Lodge Castle Terrace Berwick Upon Tweed Northumberland TD15 INP
GLENDALE GATEWAY TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Chairman's Report Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balanee Sheet 10 to 11 Notes to the Financial Statements 12 to 22 Detailed Statement of Financial Activities 23
GLENDALE GATEWAY TRUST CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Firstly, I would like to extend thanks to the staff and Trustees for all their hard work and commitment during the past year. I would also like to thank Rachel Sinton, who has retired, for her work over her employment at the Trust. Over the past 12 months the Glendale Gateway Trust has demonstrated its commitment to the wider Glendale, pushing to the fore the issues that rural communities face and ensui'ing that they are heard. Growth in the numbers and range of engagement with families and communities within the Glendale continues to increase. The Cheviot Centre remains the 'go to, place for support and infomiation and is the 'listening ear, for a variety of needs and ideas. The portfolio ofresidential and commercial properties has seen a comprehensive range of upgrading in line with survey reports, regulations and tenants, feedback, ensuring that tenants needs and the obligations of a socially responsible landlord are rnet. The Trust remains in a strong financial position, as reported in this document, and thanks should be noted to staff and Trustees for their diligence in laking up fmancial support and careful rnanagement. The past year has seen significant grant funding secured by the CEO which has fostered exciting partnerships and opportunities for comprehensive support and development of service5 and activities throughout the Glendale. With new staff members on board and the enthusiasm of the team it is anticipated that the success or the Trust will continue from strength to strength. Sadly we lost Simon Crosthwaite after a short illness. His contribution to the Trust was invaluable and he will be much missed by coll¢agues, Trustees and tenants. Becci MUaY Chair - Glendale Gateway Trust Page I
GLENDALE GATEWAY TRUST REPORT OF THE TRUSTII ES FOR THE YEI AR ENDED 31 MARCH 2024 The trustees who are also directors of the charity for the poseS of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. 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 l January 2019). OBJECTIVES AND ACTIVITIES The Trust was established to benefit the community of Glendale, in particular through.. Education, in bolh historical and architectural heritage, and the natural environment. The provision of facilities for recreation and leisure time occupation. The improvement of infrastructure and in particular road services in order to improve road safety. The provision of affordable housing. Co-operation with other persons or organisations with sirnilar aims. Under the umbr¢lla of education are listed: infonnation about and access to buildings of particular architectural or historical interest, and all aspects of the natural environment. assistance for persons to gain employment and schemes where such persons may receive training while in employment. Within the 'Objects" are also listed.. The maintenance and rnanagement of a multi-purpose community centre. Direct provision of affordable housing accommodation and, the provision of youth hostels or other accommodation to promote health, recreation and education. Summary of the main activities The Cheviot Centre: This is the Trust's multi-purpose comrnunity centre. Housin We now have and let out three houses and seventeen flats. Food Bank: Operating the Wooler and Glendale food bank. Other Activities include: The annual Glendale Festival, and Farrners Markets, The funding of a Glendale Middle School educational outinglevent and. The letting of properties to local businesses as well as to Hospice Care North Northumberland and to the Wooler Drop-in Centre. Charity Commission public benefit guidanee W¢ are required to state that we have paid due regard to the Charity Commission's public benefit guidance. We have done this by our reporting above and below on our charity's purposes, activities and achievements. Page 2
GLEI NDALE GATEWAY TRUST REPORT OF THE TRUSTEES FOR THI YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE The continuation of stralegic paitnership working and community engagement by the CEO during this financial year has led to Significant investment in The Glendale Gateway Trust through grants for specific projects. As an example, in December 2023, the CEO secured funding from the Community Lottery Fund in partnership with two other voluntary organizations, for almost £500k over the next 5 years to deliver a project around employability in our rural area. Cheviot Centre The Cheviot Centre continues to be a hive of activity on a weekly basis with people of all ages attending various groups. All 0]CeS and Pods are llY let, and the success of the Cheviot Centre Open Day in November provided the ideal opportunity for people who work in the Centre to meet each other and share their ideas and explain their businesses. We intend to repeat this event in the Autumn. The installation of an automatic main entrance door has made access easier for our older visitors and for the increasing number of parents and carer5 Vislting with buggie5 and wheelchairs. A schedule of refurbishments in the Cheviot Centre began with 2 new Cae$s. Further repairs are required around the building, and these will be carried out over the next 12 months. Housin GGT continues to invest significantly in the maintenance and repairs of all our properties by following a detailed maintenance schedule and carrying out significant repairs that were identified by an impartial qualified building surveyor. These have included the replacement of several roofs along the High Street above soTne of our commercial properties, the replacement of rotten and leaking windows at 33 High Street, 3 new doors in our properties at the rear of the High Street and significant roof and donner window repairs at the Wheatsheaf. We continue to work on a raft of recommendations made by an independent re safety assessor. regarding fe safety risk assessment and we are currently upgrading all our communal areas including the Cheviot Centre and providing addilional signage and notice boards containing all appropriate information. Food Bank Food bank requests and referrals have continued to steadily increase, and the service is very well used. We keep the food cupboard well stocked, and donations are plentiful overall. We now have food bank donation points at the Cheviot Centre, Co-op, Budgens and Lowick village store and potentially ihe Riverside Caravan Park. The Share Shed continues to be well used and fresh produce, toys and books etc are placed in there by the community for the community. Funded Pro ects The Rural Advocate Northumberland County Council funded ihi5 role for an initial period of 12 months which commenced in September 2023. Lesley Robson was Tecruited to the role and made an immediate difference to the rural community helping to alleviate feelings of disconnection as rnany people feel isolated from the services and people at NCC and other statutory oi'gani5alions. She was able to react quickly to issues that occurred and provide information to communities and NCC and act as a conduit for inforniation both ways. The role has ensured that people who are most in need of help and SUPPOrt understand how they can access services and keep safe and well recognising that people living in isolation are often in the greatest need, but they remain silent and underserved. Funding has now been secured for another year from September 2024. Employability Project A 5-year project funded by the Community Lottery Fund was approved in December 2023 and commenced in May 2024. RITS- Rural IT Support Working in partnership with Bell View in Belford we were successful in receiving funding to provide weekly drop-in sessions for people with any IT issues or for people wanting to learn more about IT. Sessions are held at the Cheviot Centre and Bell View on Friday each week and we have provided an outreach service ITh other villages halls when requested. Page 3
GLENDALE GATEI WAY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Memory Lane Further funding was received from Bernicia Homes to keep the project going for another 12 months. This group meets fortnightly with music at the heart of the sessions to help rekindle memories and slow down cognitive decline of people living with Alzheimer's and dementia and provide respite for the people that care for ihem. Woolpak The CEO successfully applied for funding to help this group of parents, grandparents and their babies and young children to meet each week at the Cheviot Centre. This child friendly group provides peer support for parentslcarers in a relaxed informal setting and is free to attend. Many parents can feel isolated due to living rurally, being new parents, being parents of children wilh special educational needs and or disabilities and many have their own mental health challenges and just need a safe and friendly space to socialise and allow their children to play. The group attracts 30-35 people each week and is run by 2 young Mums who live locally. Inky Fingers This group has been running extren]ely sllccessfully for several school tenns led by local artist Anthea Wood. Funding has been secured by ihe CEO and the free sessions allow children to take part in a wide variety of art and craft activities. Funding is also secured through HAF- Holiday Activity Fund to provide free activity sessions during the school holidays. Other Activities- just a few example5 of projects we have undertaken Repair café We manage and run ihis actlvlty in partnership with Glendale Connect. Volunteer repairers are rnatched up with members of the community who have an object to repair. Itern5 repaired include clocks, lawnmowers. vacuum cleaners, music boxes and electrical items. Chairs have been reupholstered and clothes have been mended. Donations go towards room hire and refreshments. As well as reducing the number of items that are thrown away it provides Social interaction for many people including the volunteer repairers. Clothes Share We have held 3 clothes share events during the last financial year to provide extra support during the cost-of-living crisis. We always have plenty of donations, so we have plenty of stock for people to browse. We also hold a jigsaw swap at the same time which 15 increasingly popular. Conclusion With a new team now in place the future for GGT is very bright indeed we will continue to support the community in every way we can. The current projects enhance the core work of the charity and with the continued development of partnerships other opporttjnities and projects will materialise kn the future. Page 4
GLENDALE GATEI WAY TRUST REPORT OF THE TRUSTEES FOR THE YEAR II NDED 31 MARCH 2024 FINANCIAL REVIEW The attached accounts are prepared in accordance with legal accounting requirements which in part do not make easy reading. The Trustees therefore offer a simplified summary as follows.. Assets and Liabilities at 31 March 2024 Fixed Assets 2,S89,000 Loans to fund these fixed a55ets (38,000) Net Current Assets before loans (largely cash funds) Restricted funds Unrestricted funds 148,000 180,000 Total funds 2,879,000 The above loans are.. Quaker Trust 38,000 38,000 Repayments which we are Committed to pay on the rernaining loan in 2024125 year total £3,500. Income and Expenditure for the Year to 31 March 2024 Income Cheviot Centre Residential Housing Non-residential Property Other (mainly grants) 83,000 95,000 53,000 130 000 361,000 Expenditure Direct costs Cheviot Centre Residential Housing non-residential Property 35,000 65,000 10,000 Other includin administration and wa es 191,000 300 000 Surplus before depreciation 61,000 Depreciation 54,000 Net increase after de reciation rovi5ion 6,000 Page 5
GLII NDALE GATEWAY TRUST REPORT OF THE TRUSTEES FOR THE YEAR P4DED 31 MARCH 2024 Reserves Policy The trust wishes to continue to increase it's reserves in order to.. Meet its liabilities. Fund the repair and rejuvenation of fixed assets. Modify its activities without undue haste and cost, should income unexpectedly fall. Take any appropriate opportunities in support of the community of Glendale. At ihe year end the general unrestricted funds of the charity were £183,654 (2023 £240,975). Immediate plans Further roof repairs are required on 3 properties along Wooler High Street and this will be carried out in ihe summer. Ongoing repairs and maintenance are required on all our residential properties with new windows required at an address on the High Street. This work is scheduled to take place in the summer. Various reports and feasibility studies have been catTied out regarding the heating system at the Cheviot Centre which is no longer fit for purpose. A working group including some Trustees was fornied to take this fonvard to ensure we proceed in the most cost effective and environmentally friendly way, work is expected to be compl¢ted in time for the winter. We are keen to acquire ground floor residential accommodation locally as many of our residents have mobility and health issues. We are actively seeking suitable properties to purchase and convert within easy reach of local services and facilities. The charity's principal sources of fund5 Historically the trnst has received significant grant funding which has largely provided the housing and other propety stock. The annual income of the trust is now mainly from housing rents, the Cheviot Centre income, the Youth Hostel and other commercial property rents, In the year to 31 March 2024 granls and private donations have again been a major factor. 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 defmed by the Companies Act 2006. Committee of Management The Trust is managed by the Committee of ManagemeTht. The maximum number of committee members (trustees) is 12 and the minimum is 5. The committee members are elected for a period of three years by the members of the Trust at the Annual General Meeting. Committee members will have a maximum of three temis (9 years) with an additional one year in exceptional circumstances. There are provisions within the Articles of Association for committee members to be appointed by the committee, should the need arise. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03208721 (England and Wales) Registered Charity number 1059761 Registered office The Cheviot Centre 12 Padgepool Place Wooler Northumberland NE716BL Page 6
GLENDALE GATEWAY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Trustees Ms B Murray (Chair) Ms R Lovett (Vice Chair) Dr J B Bales (Treasurer) (resigned 51912023) Ms S P Younger Ms C L Wait (resigned 271612023) R Walsh Ms A Wood P J Sheard M A Kelso (appointed 2711112023) Independent Examiner G O'Dea C.A. J.H. Greenwood & Company Chartered Accountants Ava Lodge Castle Terrace Berwick Upon Tweed Northumberland TD15 INP Employed Staff who served during the course of the year Karen Froggatt (Chief Executive) Rachel Sinton (Administrator & Cheviot Centre manager) (retired March 2024) Susan Mitchell (Accounts officer) Gillian Lowes (Communications & Projects officer) Simon Crosthwaite (Property officer) Lesley Robson (Rural Advocacy & Inclusion officer) Shauna Goulbourne (Caretaker) 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 17 September 2024 and signed on it5 behalf by: Ms B Murray - Trustee Page 7
INDEPENDEI NT EXAMINER'S REPORT TO THE TRUSTEES OF GLE< NDALE GATEWAY TRUST Independent examiner'5 report to the trustees of Glendale Gateivay Trust ('the Company,) I report to the charity trustees on my examination of the account5 of the Company for the year ended 31 March 2024. Responsibilities and basi5 of report As the charity's trustees of the Company (and also it5 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 201 l Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 201 l Act. Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirrn that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants of Scotland, which is one of the listed bodies. I have completed my examination. I confmn ihat no matters have come to my attention in connection wilh the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act. or the accounts do not accord with those records. or the accounts do not comply wilh 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 rnatter considered as part of an independent examination. or the accounts have not been prepared in accordance with the methods and principles of the Staternent of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with th¢ Financial Reporting Standard applicable in the UK and 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 be drawn in this report in order to enable a proper understanding of the accounts to be reached. ea C.A. The Institute of Chartered Accountants of Scotland J.H. Greenwood & Company Chartered Accountants Ava Lodge Castle Terrace Berwick Upon Tweed Northumberland TD15 INP Date.. 18th September 2024 Page 8
GLENDALE GATEI WAY TRUST STATEMENT OF FINANCYAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 3113124 Total funds 3113123 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2,827 115,179 118,006 61,785 Charitable activities Glendale Gateway Trust activities 233,513 2,929 236,442 211,198 Investment income 6,341 6,341 92 Total 242 681 118,108 360,789 273,075 EXPENDITURE ON Raising funds 5,237 5,239 3,969 Charitable Activities Glendale Gateway Trust activitie5 242 532 106,702 349,234 256.311 Total 247,769 106,704 354 473 260,280 NET INCOME/(EXPEP4DITURE) Transfers between funds (5,088) 52 233) 11,404 52,233 6,316 12,795 13 Net movement in funds (57,321) 63,637 6,316 12,795 RECONCILIATION OF FUNDS Total funds brought forward 240,975 2,631,053 2,872,028 2,859,233 TOTAL FUNDS CARRIED FORWARD 183,654 2,694,690 2,878,344 2.872,028 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. The notes fonn part of these fmancial statements Page 9
GLENDALE GATEWAY TRUST BALANCE SHEET 31 MARCH 2024 3113124 Total funds 3113123 Total funds Unrestricted funds Restricted funds Notes FIXED ASSETS Tangible assets 3,602 2,585,444 2,589,046 2,640,678 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 2.491 16,196 252,367 2,491 16,745 400,875 1,884 12,038 337.405 549 148 508 271,054 149,057 420,111 351,327 CREDITORS Amounts falling due within one year io (91,002) (4,811) (95,813) (35,314) NET CURRENT ASSETS 180.052 144,246 324,298 316,013 TOTAL ASSETS LESS CURRENT LIABILITIES 183,654 2,729,690 2,913,344 2,956,691 CREDITORS Amounts falling due after more than one year (35,000) (35,000) (84,663) NET ASSETS 183,654 2,694,690 2.878.344 2 872,028 FUNDS Unrestricted funds Restricted ndS 13 183,654 2.694,690 240,975 2.631,053 TOTAL FUNDS 2,878,344 2,872,028 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its fancial statements for the year ended 31 March 2024 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 preparing fmancial slatements 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 it5 surylus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirernents of the Companies Act 2006 relating to financial statements. so far as applicable to the charitable company. (b) The notes forn] part of these financial statements Page 10 continued...
GLENDALE GATEWAY TRUST BALANCE SHEET- continued 31 MARCH 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the srnall companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 17 September 2024 and were signed on its behalf by.. B Murray - Trustee The notes forni part of these fmancial statements Page 11
GLENDALE GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTINC 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 Recornmended Practice applicable to charities preparing theii. a¢count5 in accordance with ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l 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. The charity registered as a Social Housing Provider. The fmancial statements should therefore also be prepared in accordance with the provisions of the Statement of Recommended Practice for Social Housing Providers 2018 and with the Accounting Direction for private registered provid¢rs of social housing m England 2019. In the year to 31 March 2020 and during the years to 31 March 2015, grants were received to as515t with the development of social housing units. The Trustees have chosen to Continue to prepare the financial statements using the accounting conventions applicable to charities and these grants are and were included in iThcoming resources within the Statement of Financial Activities. Under the accounting conventions applicable to Registered Social Housing Providers such grants should be amortised over the useful lives of the housing properties with the unamortised amount being held within creditors as deferred grant income. Next year the accounting convention with respect to the reporting of social housing transactions will be reviewed again, including a review of the status and treatment of existing housing properties. It is estimated that if grants received on existing housing units were to be re-stated in accordance with the Registered Social Housing Providers accounting conventions, amortisation would be £20,000 per annum and the net assets at 31 March 2023 would be reduced by £851,000. Financial reporting standard 102 - reduced disc105ure exemptions The charilable company has taken advantage of the following disclosure exemption in preparing these fu]ancial statements, as perniitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirements of Section 7 Statement of Cash Flows. 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 th¢ 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. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over ifs estimated useful life. Freehold property Long leasehold Plant and machinery 20/D on cost 150/0 on reducing balance Page 12 continued...
GLEI NDALE GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxation The charity is exempt from corporation tax on its charilable 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 fmancial statements. Pension costs and other post-retirement benefits The charitable company operate5 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 Ihey relate. INVESTMENT INCOME 3113124 3113123 Deposit account interest 6,341 92 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting)'. 3113124 3113123 Independent examiner's remuneration for examiThing a¢count5 Accountancy fees Depreciation - owned assets 1,000 4,555 54,226 1,000 2,200 55,251 TRUSTEES, RETrIUNERATION AND BENEFITS There were no Iru5tees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no tsteeS, expenses paid for the year ended 31 March 2024 Thor for the year ended 31 March 2023. Page 13 continued...
GLENDALE GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDEI D 31 MARCH 2024 STAFF COSTS The average monthly number of employees during the year was as follows: 3113124 3113ll3 Management Administration No employees received emoluments in excess of £60,000. In addition to salaries and social security there were other employee costs of £826 (2023: £838). The total of key management personnel remuneration in the year was £40,600. SOCIAL HOUSING LETTINGS The Glendale Gateway Trust is a regislered social housing provider. During the year rents received from social residential properties was £95,227 (2023 £93,084) and costs, amounted to £65,050 (2023 £41,787). TANGIBLE FIXED ASSETS Freehold propety Long leasehold Plant and machinery Totals COST At l April 2023 Additions 3,210,806 350,255 76,511 2,594 3,637,572 2,594 At 31 March 2024 3,210 806 350,255 79,105 3,640 166 DEPRECIATION At l April 2023 Charge for year 868,240 46,851 61,880 66,774 1,607 996.894 54.226 At 31 March 2024 915 091 67,648 68,381 1,051,120 NET BOOK VALUE At 31 March 2024 2,295.715 282,607 10,724 2,589 046 At 31 March 2023 2,342,566 288,375 2,640,678 The leasehold property is five flats above the Co-op in the Wheatsheaf building at th¢ end of Wooler High Street. The freehold property includes.. The Cheviot Centre The Wooler Youth Hostel Fifteen residential properties (under three of these are two spaces let as a bakery and a café). The Mechanics Institute Building used by the Drop-in Centre. Premises used by Hospice Care North Northumberland (also under two residential flats). Page 14 Continued...
GLENDALE GATII WAY TRUST NOTII S TO THI FINANCIAL STATEMENTS- continued FOR THE YEAR II NDED 31 MARCH 2024 TANGIBLE FIXED ASSETS- Continued The trustees consider that it would not be practicable to analyse accurately the carrying value of freehold property between properties let a5 social housing and other property. The carrying values of freehold property shown above may be different from the market values of these properties. The trustees do not consider that it would be worthwhile to obtain professional valuations in order to quantify these differences. Consideration continues to be given as to whether provisions for impainnent are required. STOCKS 3113124 3113123 Stocks 2,491 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3113124 3113123 other debtors Prepayments 6,205 10,540 3,652 16,745 12.038 io. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3113124 3113123 Bank loans and overdrafts (see note 12) Other loans (see note 12) Trade creditors VAT Other creditors Accrued expenses 2.450 3,500 11.254 617 11,493 6,000 3,500 62,235 12,561 17,517 95.813 35,314 ii. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 3113124 3113123 Bank loans (see note 12) Other loans (see note 12) 46,163 38,500 35,000 Page 15 continued...
GLENDALE GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 12. LOANS An analysis of the maturity of loans is given below.. 3113ll4 3113123 Amounts falling due within one year on demand.. Unity Trust loan Quaker Housing Trust loan 2,450 3,500 3,500 Amounts falling between one and two years.. Unity Trust loan Quaker Housing Trust loan 2,900 6,400 Amounts falling due between two and five years.. Unity Trust loan Quaker Housing Trust loan 10,400 10,500 10.500 10,500 20,900 Amounts falling due in more than five years.. Repayable by instairnents.. Unity Trust loan Quaker Housing Trust loan 32,863 24,500 57,363 21,000 21,000 Page 16 continued...
GLII NDALE GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR NDED 31 MARCH 2024 13. MOVEMENT IN FUNDS Net movement in llds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted funds General fund Designated Housing Maint Fund Designated Youth Hostel Maint Fund 211,975 14,000 (5,088) (52,233) 154,654 14,000 15,000 240.975 (5,088) (52,233) 183,654 Restricted funds Cheviot Centre Cheviot Centre - Foyer Cheviot Centre - Library Extension Cheviot Centre - Sensory Garden Cheviot Centre - Library Fitting Out Cheviot Centre - Pre-developrnent Costs Cheviot Centre Performance Room Cheviot Centre - Pods and Offices Remote Learning Hub Mechanics Inslitute Town Centre Regeneration Youth Hostel 31 High Street Old Library 12a Church Street Roddarn Dene House Communal Garden at Roddem Dene House Fonner Barclays Bank Wheatsheaf Robson Patterson Ancrum Endowment Cap Glendale Festival Natural Burial Glendale Festival Farn]ers Markets Food Bank Reconnecting the Wooler Water Garden Activities with ChildretL Marjorie Stephenson Small Grants Provide log bank Memory Lane Dementia Care Glendale Nourish & Share Shed Wam] Space Fuel for Shopping Trips Carham Defibrillator New Heating System - Ch¢viot Centre Dark Skies Dr Chris Dalglish donation Emergency Hub Kyloe Food Bank Rural Advocate Role 308,433 17,602 34,881 4,402 44,353 11,697 31,649 146,368 2,667 153 257,136 278,887 340,322 160,179 33,329 368,929 1,834 308,125 197,762 25.638 6,954 1,003 6.621 15,331 365 1,021 6.448 (6,597) (352) (697) (104) (887) (234) (633) (2,928) (400) (3) (5,143) (5,876) (6,807) (3,203) (667) (7,379) (37) (6,162) (5,768) 301,836 17,250 34,184 4,298 43,466 11,463 31,016 143,440 2,267 150 251,993 273,01 I 333,515 156,976 32,662 361,550 1,797 301,963 244,107 25,638 3,000 52,113 (1,190) (1,003) 962 (1,197) 32.952 1,687 (515) 3,000 (276) (1,540) (5,626) (78) 3,962 (2,764) 7,583 14.134 33,317 2,708 8,039 3,000 8,703 1,958 2,106 8,979 3,498 5,626 524 457 (120) 446 4,419 120 658 (658) 985 20,000 1,000 985 20,000 1,000 12.816 2,631,053 11,404 52,233 2 694,690 TOTAL FUNDS 2,872 028 2,878.344 Page 17 continued...
CLENDALI GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 13. MOVEMENT IN FUNDS - continued Net rnovement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 242,681 (247,769) (5,088) Restricted funds Cheviot Centre Cheviot Centre - Foyer Cheviot Centre - Library Extension Cheviot Centre - Sensory Garden Cheviot Centre - Library Fitting Out Cheviot Centre - Pre-development Costs Cheviot Centre Performance Room Cheviot Centre - Pods and Offices Remote Learning Hub Mechanics Institute Town Centre Regeneration Youth Hostel 31 High Street Old Library 12a Church Street Roddam Dene House Communal Garden at Roddem Dene House Fomer Barclay5 Bank Wheatsheaf Glendale Festival Natural Burial Glendale Festival Farmers Markets Food Bank Reconnecting the Wooler Water Garden Activities with Children Marjorie Stephenson Small Grants Provide log bank Memory Lane Dementia Care Glendale Nourish & Share Shed Warni Space Fuel for Shopping Trips Carham Defibrillator Dark Skies Dr Chri5 Dalglish donation Emergency Hub Kyloe Food Bank Rural Advocate Role Solar Feasibility Study (6,597) (352) (697) (104) (887) (234) (633) (2,928) (400) (3) (5,143) (5,876) (6,807) (3,203) (667) (7,379) (37) (6.162) (5,768) (1,190) (1.028) (1,967) (8,644) (6,597) (352) (697) (104) (887) (234) (633) (2,928) (400) (3) (5,143) (5,876) (6,807) (3,203) (667) (7,379) (37) (6,162) (5,768) (1,190) (1,003) 962 (1,197) 32,952 1,687 (515) 3,000 (276) (1,540) (5,626) (78) 3,962 (658) 985 20,000 1,000 12,816 25 2,929 7,447 32,952 5,756 250 5,250 9,353 (4,069) (765) (2,250) (9,629) (1,540) (5,626) (78) 3,962 (658) 985 20,000 1,000 26,813 1,386 (13,997) 1,386) 118 108 106,704 11.404 TOTAL FUNDS 360,789 354,473) 6,316 Page 18 continued...
GLENDALE GATEWAY TRUST NOTES TO THE FJNANCIAL STATEMENTS- continued FOR THE YEAR ENDID 31 MARCH 2024 13. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.3.23 At 1.4.22 Unrestrieted funds General fund Designated Housing Maint Fund Designated Comm Property Maint Fund Designated Cheviot Centre Maint Fund Designated Youth Hostel Maint Fund 129,650 58,000 2,000 20,000 25,000 51,427 30,898 (44,000) (2,000) (20,000) 10,000) 211,975 14,000 15,000 234,650 51,427 (45,102) 240,975 Restricted funds Cheviot Centre Cheviot Centre - Foyer Cheviot Centre - Library Extension Cheviot Centre - Sensory Garden Cheviot Centre - Library Fitting Out Cheviot Centre - Pre-development Cost5 Cheviot Centre Perfonnance Room Cheviot Centre - Pods and Offices Remote Learning Hub M¢chanics Institute Town Centre Regeneration Youth Hostel 31 High Street Old Library 12a Church Street Roddam Dene House Communal Garden at Roddem Dene House Fonner Barclays Bank Wheatsheaf Robson Patterson Ancrum Endowment Cap Robson Patterson Ancrum Endowment Rev Glendale Festival Hugonin Art5 Natural Burial Spring Clean in Wooler Twin Towns Project Glendale Festival Famiers Markets Window Replacement Cheviot Centre E-Learning Room Food Bank Remote Access Room - Attend aThywhere Reconnecting Ihe Wooler Water Feasibility Study - Old Barclays Bank Garden Activities with Children Marjorie Stephenson Small Grants Illuminated Sheep Memory Lane Dementia Care Glendale Nourish & Share Shed Wann Space Fuel for Shopping Trips Carham Defibrillator 314,021 17,946 35,593 4,510 45,258 11,936 32,295 149,354 4,404 155 262,384 284,953 347,265 163.449 34,009 349,752 1,871 318,834 197,698 26,706 1,068 8,952 842 (6,716) (344) (712) (108) (905) (239) (646) (2,986) (468) (2) (5,248) (6,066) (6,943) (3,270) (680) (7,529) (37) (6,287) (5,885) (1.068) 1,128 308,433 17,602 34,881 4,402 44,353 11,697 31,649 146,368 2,667 153 257,136 278,887 340,322 160,179 33,329 368,929 1,834 308,125 197,762 25,638 (1,269) 26,706 (4.422) 5,949 (1,068) (1,998) (842) 1,003 6,954 1,003 113 861 5,195 75 4,017 2,250 1,093 (1,296) (980) (113) (861) 1,227 199 (75) 6,621 (4,017) 2,012 11,069 (1,093) 15,331 1,661 980 1,021 (1,340) (303) 8,979 3,498 5,626 524 457 365 1,021 6,448 7,788 303 8,979 3,498 5,626 524 457 Page 19 continued...
GLEI NDALE GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR EI NDED 31 MARCH 2024 13. MOVEMENT IN FUNDS- continued New Heating System - Cheviot Centr¢ 120) 120) 2.624,583 38,632) 45,102 2,631,053 TOTAL FUNDS 2,859 233 12,795 2 872,028 Page 20 continued...
GLII NDALE GATII WAY TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 13. MOVEMENT IN FUNDS - continued Comparative nel movement in funds, included in the above are as follows.. Incoming resources Resource5 expended Movement in funds Unrestricted funds General fund 215,506 (164,079) 51,427 Restricted funds Cheviot Centre Cheviot Centre - Foyer Cheviot Centre - Library Extension Cheviot Centre - Sensory Garden Cheviot Centre - Library Fitting Out Cheviot Centre - Pre-developement Costs Cheviot Centre Perfomance Room Cheviot Centre - Pods and Offices Remote Learning Hub Mechanics Institute Town Centre Regeneration Youth Hostel 31 High Street Old Library 12a Church Street Roddam Dene House Communal Garden at Roddem Dene House Fornier Barclays Bank Wheatsheaf Robson Patterson Ancrum Endowment Cap Glendale Festival Hugonin Arts Natural Burial Twin Towns Project Glendale Festival Farniers Markets E-Learning Room Food Bank Reconnecting the Wooler Water Feasibility Study - Old Barclays Bank Garden Activities with Children Marjorie Stephenson Small Grants Illuminated Sheep B Rattcliffe - for local use Pi'ovide log bank Memory Lane Dementia Care Glendale Nourish & Share Shed Wami Space Fuel for Shopping Trips Carham Defibrillator New Heating System - Cheviot Centre (6,716) (344) (712) (108) (905) (239) (646) (2,986) (468) (2) (5,248) (6,066) (6,943) (3,270) (680) (7,529) (37) (6,287) (5,885) (1,068) (4,697) (842) (6,716) (344) (712) (108) (905) (239) (646) (2,986) (468) (2) (5,248) (6,066) (6,943) (3,270) (680) (7,529) (37) (6,287) (5,885) (1,068) (1,998) (842) 1,003 (861) 1,227 (4,017) 2,012 1,661 980 1,021 ( I,340) (303) 2,699 1,003 (870) (1,533) (4,017) (4,128) (1,991) (3,743) (1,379) (1,534) (767) (600) (2,500) (1.299) (4,096) (5,720) (226) 2,760 6,140 3,652 4,723 2.400 194 464 600 2,500 JO,278 7,594 11,346 750 457 8,979 3,498 5,626 524 457 57,569 96,201) 38,632 TOTAL FUNDS 273.075 260,280) 12,795 Page21 continued...
GLENDALE GATEWAY TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 13. MOVEMENT IN FUNDS- continued Transfers between funds The transfers between restricted and unrestricted funds during the year represent COSts on restricted projects that had been rnet by the general funds of the charity. 14. RELATED PARTY DISCLOSURES During the year Ms A Wood, a trustee, was paid £2,350 for sessional work. Thi5 is in her capacity as a professional artist engaged lo run an afterschool art club for the children of Wooler and the surrounding area. She was also paid £107 for items to resell in the centre shop. All transactions were on ann's length tenns. At the year end Ms Wood was owed £120 by the charity. Page 22
GLENDALE GATEWAY TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 LVIARCH 2024 3113124 3113123 INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Grants 18,487 4,395 95,124 20,942 40,843 118,006 61,785 Investment income Deposit account interest 6,341 92 Charitable activities Rental income Room hire Sale of goods or services 197,636 17.593 21,213 180,782 15,813 14,603 236,442 211,198 Total incoming resources 360,789 273,075 EXPENDITURE Other trading activities Purchases 5,239 3,969 Charitable activities Wages and salaries Social security Pensions Other employee cosls Cheviot Centre Youth hostel Residential properties Town commercial properties Other costs including admin Glendale Festival costs Depreciation of tangible fixed assets Loan interest Grants to institutions Grants to individuals 115,942 3,726 2,051 826 35,154 1,780 65,050 7,867 50,622 1,907 54,226 92,612 1,879 1,716 838 18,257 1,972 41,787 3,487 21,902 6,229 55,249 3,015 3,568 600 4.528 343,679 253,111 Support costs Governance costs Indep't examiners remuneration Accountancy and legal fees 1,000 4,555 1,000 2,200 5,555 Total resources expended 354,473 260,280 Net income 6,316 12.795 This page does not form part of the statutory fmancial statements Page 23