REGISTERED COMPANY NUMBF.R: 03208721 (England and Wales) RECISTERED CHARITY NUMBER: 1059761 FOR J.H. Greenwood & Company Chartered Accountants Avtd Lodgc Castle T¢TTace Berwick U￿n Tweed Northumberland ID15 INP AYTR OF THE F]NANCIAL STATEMENTS AR ENDF.J) 31 Page Cbilrm*n'$ Rtport Report of th¢ Trnsttts 2 to 7 Independ¢ni Ezamintr'j Re￿rt Statement of Flnanei•l A¢tiviti¢i Bal•n¢¢ Sh¢¢t io Notey ¢0 the FlnAn¢i•l Sta¢¢ments 11 to 21 Detfiiled St*ttmtnt of Finan¢lal A¢¢fvltl 22 THE GLENDALE GATEWAY TRUST CHAIRMAN'S REPORT bOR THE YEAR ENDED 31 KIRCH 2025 I would like to thank the staff aT￿ the tru$1¢¢s for ih¢iT hard work and dedication to upholding the Trust's objectives to promote, Tnaintaity improve. encourase and a¢fvance the Ernefil of th¢ inhabitsnts of the Glendale area. Over t1￿ past 12 month8, the Trust has develo￿d its nwal advoLacy role through extensive community engagem¢nl and has built up a netwtsrk of partnerships throughout the statutory and VCSE sectors. The rural aspirations employabilty prOJecth￿ eM￿Wered rn￿Y young peopl¢ by giving them OPPUTlunili¢s in work ortraining. Through the various projects and activities, the TNSI aims lo ¢onnc¢t people wilh each oiher and their communities. The Cheviot Centre continues to thrive as a community hub foT activities, eventy inforniat1o￿ support- a first-cknice plae¢ to seek a ronge of &ssistanc¢ but also to share ideas. The portfolio of residential and commcrcial prO￿TIleS continu¢.£ to build on the upgrading that commenced in 2024, to ensure that the I rust 15 in line with landlordltenancy legislation and that tenant's needs and obligations of a socially responsible landlord arc mct. The Tn]st aLhieved, wilh the help of local partnws, ts) savc the Posi Offi¢£. This h&4 meant that an active busincss and social hub in the community continues and mor¢ s0¢ial housing is availabl¢ &$ the postM&￿er'S dwelling is convcrted into a family dw¢lling. finally. we welcomed n¢w and cnterprising tengxlls to the Wooler Hostel. The TTUSt remains in a strong fJnan¢ial wsition, as rep()rted in this do¢um¢nt. s￿¢]Ell thanks to th¢ staff and trus￿e$ for ensurtng that thc Trust takes all m¢asures re&sonable l(> be diligent wilh its income Hnd funding. The Trust hAs secured fimding lo en5￿Te continuity with existing projects and the proype¢ts of new ones whA¢h coveT a diverse range of areas. including comrnunity, environmenL ¢dueation and heTitage. and it has set in motion plans io dev¢lop ils rol¢ lourist inforniation centre. Both stsff and trust¢¢S OT¢ enthusiastic about th¢ Tole and fijture of the G1¥nd{￿ Gut¢way Trust. Rose I,ov¢tt Th¢ Glendale Crateway'l'TUSt, Chair Page I THE GLENDALE GATEWAY TRUST REPORT OF THE TRUSTEES FOR THE IIAR ENDED 31 TrL4RCII 202S The trustees who are also directors of the charity for the purposes of the Companies Act 2006, pr¢5¢ni th¢ir re￿rt with thc financial slAtements Df the charity for the year ended 31 March 2025. The trustees havc advpted the Provisions of Accounting and Reporting by Ch￿Illes. St￿¢ment of RecommeT)dcd PrActice applicablc to thArities PTepaTing their ounts in accordance with the Financial Reportin8 St8nderd applicable in the UK and R¢public ol Ireland IFRS 102) (effe¢tive l January 2019). 0￿EcTIVEs AND ACTIVITIES The Trusl was estsblished to benefit the community of Gkndale, in particular through.. Edu¢#lion, in both historical and ar¢hiie¢ttral h¢rit8ge, and the nhtural environmmt. The provision of facilities for recreation and leisure lime occupation. Th¢ improvement of infrastructure and in particular road services in order to improve road safety. The provision of affordable housing. c￿operatiOn with other persons or organisations with similar aitns. L'nder the umbrella of education are listed: information about and Access to buildings of particular ar¢hit¢ctural or historical intere$L and all aspects of the natt]ral environmcni. 8SSi.%tance for pctsons to gain employm¢nt and Khemes where such pcrsons may receive training while in ¢mployment. Within the'objccts" are also listed: Th¢ maintenance and management of a multi-purposc community ¢¢ntTe. DiTCCt provision of&ffordable housing accommodation and, th¢ provision of youth host¢l$ or other ¢ommodation to promole health. recreation and education. Summary of tht m•in &etivitie& The Chevioi C¢ntre.' Thi.4 is the Trugt's mulii-purpos¢ community centre, which includ¢s tourist inforniaiion. Ilou&￿' We now hav¢ 8nd let out three houscs and scv¢nte¢n fi￿S. Bunk: Operating the Wooler and Glcndalc food bank. Rural Advocaci. and S '. Thc Trust has funded roles to address issues suth ￿ poverty. isolation and inequality. Ot￿r Activit. esin The farmers Morkets, Th¢ ￿ndIng of a Glendale Middle School educaiional outinB/ev¢nt an The letting of piopcrtics to local bu5iness¢s and charitie4 includin8 thc Woolw Hostel. I lospic¢ Car¢ Northumberland And the Wool¢r (Youth) Dropin Centr¢, Ch•rity Commlsslon publi¢ benefit guidanee W¢ 8rc required 10 s￿1¢ ihal w¢ have paid due Tegard to th¢ Charity Comtnission's public bencfit guid￿¢¢. W¢ have done this by our r¢FKTrrting abov¢ and below on our charity's purpos¢s, activities and achicvem¢nts. Page 2 THE GLENDALE GATEWAY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDFD 31 KIRCH 2025 STRATEGIC RF.PORT Achievements ind performAnee Th¢ Glcndale Ciateway I njst's collaboration wilh stralegic partncrs has generated further funding Opport￿lI1cS and th¢ Ikvclopment of new projects to mitigatc th¢ 5igTrifitant rural intqualities ewrienced by COTnmunities in Glcndal¢. Th¢ Trust continues to rais¢ the n￿41 voic¢ and advocat¢ for Tural community needs at ¢v¢ry opportunity. Chevlot Centrt The Cheviot Centre Brows from slrcngth to strength as a community hub with participanL% Across all d¢mographi¢s engaging in a wide range of adivitics year-round. Our office units are fiilly o¢¢upierting neurodiv¢rs young people in Tural North Ngrthumberlund and the implemenlation of new reporting proce55e5 to map the lou¢hpoints of availabl¢ support in ordcr to identify rural inequalities in our Signp￿tIllg pathway5. The Trust is looking 10 ¢4pitalise on the Cheviol Centre being the go-to hub by enh&n¢ing the user and visitor expcri¢nce. This includcs plan5 tu promul¢ Ihe room rental hire facilities, to cxpand the services offered at the iOUTiSt inforn￿tIOn desk and io upgrade uur websile to ensure it 18 &s user- friendly and infornialive as possible. Finallyy the Trust continues lo ¢ollAborate with partner$ on currcnt wojcLXs. 8Dd is in the fortunate positii)n to b¢ ￿tIVe]Y involved in pursuing new and ex¢iting projects. The chArlty'x prlncipal sourcej of furtdi Hisiorically the trust h&q rc¢¢ived significant grant fiuiding whi¢h h83 largely provided thc housing ¥nd other prorKty stock. The &nnual in￿rne of the trust is N)w mainly from housin8 rents, the Cheviot Ccntre in¢ome, the Youth Hostel and other o)mmer¢ial propcty r¢nts, In the Ye￿ lo 31 Mar¢h 2025 grants and private donations have again been a major fa¢lor, STRUCTURE, GOVERII'AYCE AND K4NAGEMEN'I' Governlng document Th¢ chgrity is controlled by its goyerning do¢ument, a deed of tmst, and constitutes a limited company. ]imited by guarante¢, as der￿ed by the Companies A¢t 2006. Committe¢ of MJ)n8gement The Trust 15 managed by the Committee of Managemcnt. The m&ximum numbcr of committ¢¢ memkn5 (trusi¢e8) is 12 TKI th¢ minimum 1$ 5. 'lTre committee membcrs are el¢¢l¢d for & period of three years by the members of the .1 rust at th¢ Annual Cyeneyal Meeting. Committ¢C MCM￿1$ will h#v¢ o maximum of threc l¢rnis19 years) with an additional one year in exceptiondl Circumstan￿$. Trre are provision$ within the Articles of Association for committee menth¢rs to be appointed by the ¢ommitt¢e, should th¢ n￿d aris¢. Page 6 THE GLENDALE GATEWAY TRUST REPORT OF THE TRIISTh.F.S FOR THE YEAR ENDED 31 MARCEI 2025 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03208721 (England and Wales) Registered Chirlty number 1059761 Regi8tertd office The Cheviot Centre 12 Padgepool Place Wool¢r NorthumE¢rland NE716BL T￿lte¢s MS R Lov¢tt (Chair) R Walsh Ms B Murray {T¢signed 211312025) Ms S P Younger (re%igned 301412025) Ms A Wood IT¢signed 2111612025} P J Sheard (resigned 171912024) M A Kels0 (resigned 25m2025) J S Davidwn (appointcd 181912024) M J Dean {4)￿in￿d 28n/2025) M Harworth {appointed 301412025> D J Wise (appointed 301412025) Independent ExAmln¢r G O'Dca C.A. J.H. Grccnwood & Company C1wt¢red ALcountsnts Avo Lodge Castk Terrn¢e B¢rwick I1￿}n Tweed Northumberland TD15 INP Fmploytd St*trwho served durlng the coune of th¢ y¢or Karen Froggatt (Chicf Executiv¢) C'indy Crossman (Propcty offic¢r) Susan Miichcll (Accounts officer) Gillian Lowcs (Communi¢4tion5 & Projects officer) Gillian Foster IRuT41 Aspirations O￿l¢¢T) Lcslcy Robson (Rural Advocacy & Inclusion officer) Gemma Dresser (Chevi(Trt Centre and Events C￿rdInat0r) Shauna Goulbourne (Car¢tak¢r) EvF￿Ts StNCE THL LIYD OTr THE YEAR Inforniation relatinB to events since thc end of the year is given in the not&$ lo the financial statements. Report of the t lees inco directors. on .. ating a strat¢8ic repoti approved by order of th¢ board of truslees, as Ihe company a¢2l..11.ras . and signcd on th¢ board's I￿half by.. Ms R Lovett. Truslee Pag¢ 7 INDEPEINDENT EK4MINER'S REPORT TO THE TRUSTEES OF THE GLENDALE ATEWAY TRUST Ind¢pendent txaminer's report lo the trustees of The Glendale G*teway Trust ('the Comp#ny') I r¢p)rt to the charity t￿￿te¢S on my eX￿nin￿tion of th¢ gccounts of the Company for thc year ¢nded 31 March 2025. Respon$lbili¢ies and basil of report As the charitys trustees of the Company (and also its directors for th¢ purposes of company law) you are TeswJn8ible for lh¢ preparation of ihc accounts in accordance with thc requirem6nÉs of the Companics Act 2006 {'the 2006 Act). Having salisfied myself that the accounts of the Company ar¢ not required to be audited under Part 16 of the 2006 Act and 4re eligibl¢ for independent examination, I report in respect of my examination of your Lharity's accounts as carried out und¢r Section 145 of the Charities Act 2011 {Ihe 2011 Acf). In Carrying out my &xamination I have followed the Directions 8iven by the Cbarity Commission under Section 145{5) (b) of the 2011 Act. Ind¢pendtnt exgmintr'a stattment Since your charity's gmss incorne exceeded £250,(M)O your examiner must b¢ a member of a listed body. I can confjrni Ihttt I wn qualified to undertake the eX￿MInatiOn iK¢ause l am a member of thc Institute of Chartered Accountants of Scotland. which 18 onc of the listed bodies. I hav¢ ompleted myexamination. l ¢onfinn thai no mattershavc comc to my llttention in conncction with the exgmination 8ivin8 me Gau$¢ io b¢licve'. a￿ountIng records were not kepl in T¢SP¢¢t uf the Company AS required by Section 386 of th¢ 2th)6 Act; or the ￿QuAl$ do not accord writh those records. or th¢ accounts do not Comply with the accounting requircments of Seclion 396 of the 2006 Acl oih¢r than any rcquiremenl thal the a¢¢ounts give a true a￿1 fair view which is nol a matter considered as part of an independent examination. OT the ac¢ounls hav¢ noi heen prepared in accordon¢e with the methods and prin¢iples of th¢ Ststement of Recommended Pia¢li¢¢ tor accounting and Teportins by charitie5 (applicable to charilics preparin8 th¢ir accounts in a¢cordance with the Financial Reporting SI￿dard applicable in the UK and R¢public of Ireland (FRS 102)). I have no concern8 ond have tome across no othcr matters in conne¢tion with thc cx8minatiun to which attention should b¢ drawn in thi.8 report in order lo ¢n4ble a prow underbtandiD8 of the Accounts to bc rc8¢hed. The Institute of Charter¢d Accountants of Scotland J.H. Greenwood & c.ompany Chartered A¢counlants Ava IA)dge c￿le l errace Rerwick lJpon Tweed Northumberland TD15 INP Page 8 THE GLENDALE GATEWA Y TRUST TATEMEKf OF FNANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 3113r25 Tot fimds 3113124 Total fimds UnrestTiCted funds Restricted funds Notes LNCOME AND ENDOWMENTS FROM Donations and legacies 2,065 249,890 251.955 118.006 Charitsble gctivitit5 Gl¢ndale Gateway Trust Social Housing Glendale Centre 57,914 96,850 90,826 2,593 60.507 96.850 90.826 55,663 95,227 85,552 Inv¢slment inwme Total 261525 252 483 514008 EXPENDfTtIRE ON ChArlt#ble activitiei Glendale Gatewby Tnst Social Housing Glcndalc Ccntre 145,236 33.860 185,452 330,688 33,860 249,031 65,050 Totttl 214 728 224 039 438 767 354 473 IIET INCON Transftrs betw¢en fundj 46,797 28,444 300 73.241 6,316 18 Net movement In fundi 46.297 28,944 75,241 6,316 RECONCILIA TION OF FLryDS To181 funds broughi forward 183,654 2,694,690 2.878.344 2.872,028 TOTAL FUNDS CARRIED FORWARD 229951 2 723 634 2 953 585 2 878 344 CONTIWLTThG OPERATIONS All income 8nd expenditure has arlsen from c4)ntinuin8 activities. The notes forni part of these fll]ancial stafrments Page 9 THE GLENDALE ATEW BALANCE SHFET 31 MARC.'112025 3113125 Totsl 3113124 'I'otal funds Unr¢stri¢ted funds Re5tri¢led fijnds Notes FIXED ASSETS Tangible gssots 12 4.835 2.553,355 2.558.190 2.589.046 CLryIREhY ASSETS Stock5 De￿or5 Cath ut bank and in hand 13 14 3,864 18,271 225 710 3.864 18.271 461666 2,491 16.745 400,875 235 956 247,845 235,956 483.801 420,111 CREDITORS Amounts falling due within one year 15 (22.729} (4,177) (26.906) (95,813) YET CITRREwf ASSETS 225 116 231779 456 895 324 298 TOTAL ASSETS LFSS CURRENT LIABILITIES 229,951 2,785,134 3,015,08J 1913,344 CREDITORS Amvunls falling du¢ after MOK than onc ycar 16 (61.500) (61,500) {35,(M)O) YFT ASSFTS 2 723 634 2 953 585 TNDS Unrcstrictcd fijnds R¢strict¢d fund8 18 229.951 2 723 634 183.654 2 694 690 TOTAL FUNDS 2 953 585 2 878 344 The charitable company is entitled to exemption from 8udit under Seciion 477 of the Conip8nies Act 2006 for y¢ ended 31 March 2025. Th¢ mcmb¢rs h8v¢ not r¢quii¢d the ￿MpanY to obtsin an audit of its financi￿ statements for the year ¢nd¢d 31 March 2025 in accordance with S¢¢tion 476 of the Companies Ath 2006. The truslees acknowledge their re5pon5ibiliti¢s for (a) ¢nsuring ihai the ¢harilable company keeps accounting r¢cor(ts that comply with Sections 386 and 387 of the Companies A¢1 2006 omd preparing financial statements which give a true and fair view of the State of affairs of the ¢baritabl¢ wmpany Ls at the end of each financial year and of its swplus or defiril for ¢&¢h financial yeaT in accordgnce with the requirements of Sections 394 and 395 and which OtI￿rwise ¢omply with the r¢quir¢m¢nts of the Companies A 2006 relating to fmancial statements. w far as appli¢abl¢ to the charitable rA)mpany. (b) Thc finan¢iHI statcmcnts wcrc approved by the Board of'l'rustees and authnrised for issue on.... and were sign¢d on its b¢ alf by: R ￿vett- Trust¢¢ Page 10 THE GLEYDALE GATEWAY TRL'ST NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 3] MARCH 2025 AccoiwfiNG POLICIES Ba¥1$ of preparing the finaDclal statements Th¢ fmancial slatcm¢rhts of Ik ¢haritablc Compk￿y. whi¢h is a publi¢ b¢n¢fit entty under FRS 101 have been prep0r¢d in accordancc with thc Charitics SORP (FRS 102) 'AcLounling and Reporting by Charitie5: Statement of Recommcnded Practicc applicable to charitie5 preparing their ac¢ounls in accordance with ihc Financial Reporting Siandard applicable in the UK and RcpubliL of lT¢land (FRS 102) (¢ff¢ctive l January 2019).. Financial R¢porting Stsndard 102 Tr Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been pr¢por¢d under th¢ historical cost conventio The ¢harily regisiered as a Social Housing Provider. The fmancial stst¢ments should therefore also b¢ prepared in accordance wilh the provisions of the S(alemenl of RC￿mM¢￿ded Proctice for Social Housing Providers 2018 and with the Accuunling Direcliun (or privale regislered provid¢rs of so¢ial housing in EnBlatMI 2019. In the year to 31 March 2020 and during the years to 31 March 2015, grants were received to assist with the development of social housing units. The Trustees have clM)sen to continue to prcparc the fit)an¢ial ￿￿teme￿LS using the a¢¢ouniing ¢onv¢ntions applicable io chArities and these grants are and werc included in incoming r¢source.q within the Sts*ment tif fiinwi¢ial A￿1vItIes. Under the occDunting conventions applicablc lo R¢gister¢d Social Hou%ing Providers.quch 8rants.qhould be amortised over the useful lives of th¢ housing properties with the unamortised amoun¢ ￿Ing held within cr¢ditor$ as d¢f¢rr¢d grant in¢ome. Nex¢ ￿&r the accounting ¢onv¢ntion with respect 10 th¢ r¢porting of social housing transactions will be r¢vi¢w¢d again. including a r¢vi¢w of th¢ slatus and trcatm¢nt of cxisting housing properli¢s. Ii is estima*d that if grants rccciv¢d on ¢xistin8 housing wlils wcre lo r¢-stat¢d in accordance wih the Registered So¢ial Ilousing Providers accounting convention4 amortisation would be £20,000 pcr annum and the net a5s¢ts al 31 March 2025 would be reduced by £831.0110. FinAnclal reportlng Jtandard 102- reduced diyLlo$ure exemptions The charitable company h&$ taken advanloge of the following dis¢losur¢ exemption in preparing these fm8ncial slalement¥, &$ p¢nnitl¢d by FRS 102 Th¢ Financial Reporting Siandard applicable in the UK and Republic of Ireland,: the requiremenL8 of Sedion 7 Statement of Cath Flowi. Ineome All income is reco8ni%d in the Ststement of Financial Athlvili¢s one¢ thc charity has entiilemenl to lh¢ funds, it is probabl¢ that the income will bc rec¢iv¢d and the am0￿1 ¢an b¢ measured reliably. Expendltu Liabilities are recobTAiscd as expenditurc as soon as theTe i5 a legol or ¢on.8lructive obligation committing the chaTity to that ￿pendItu￿. it is PTobgbl¢ that a trDnsfer of economic benefils will k r¢quir¢d in settlement and the amount of the obligation can be me8sured reliably. Expenditure is a¢¢ount¢d for on an accrnals basis and has been ¢la5$ified under headings that aggregate all cost relat¢d to the category. Where co￿$ cannot k directly attributed lo parti¢u]ar h¢adin8s ih¢y hav¢ allocated to activities on a basis ¢onsistcnt with the us¢ of resour¢¢s. (irants offered subject to conditionq which have not met at the year end datc ar¢ noted as a ¢ummilmenl bul not accrwl &8 expenditure. TAnglble fixtd Aisets Dcprcciation is provi