Registered number: 03291380 Charity number: 1060245 Charity Commission 25SEpff• WHITEHAVEN COMMUNITY TRUST LIMITED {A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Armstrongwatson, Accountants, Business & Financial Advisers
WHrfEHAVEN COMMUNITY TRUST LIMITED {A company limited by guarantee) CONTENTS Page Reference and admlnistrative details of the Company, its Trustees and advisers Trustees. report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 10-21 The followtng pages do not fOn part of the statutory financial statements:
WHtrEHAVEN COMMUNtrY TRUST LIMITED (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Mr J Taylor, Trustee Miss J Nicholson, Trustee Mr N Clarkson MBE, Trustee Mr M Parlett, Trustee Mr D Lord, Trustee Company registered number 03291380 Charity registered number 1060245 Registered office 13 - 15 Market Place Whitehaven Cumbria CA28 7JB Company secretary Mrs K Maxwell OBE Chief executive offtcer Mrs K Maxwell OBE Accountants Armstrong Watson LLP Carteton House 136 Gray Street Workington Cumbria CA14 2LU Page 1
WHITEHAVEN COMMUNITY TRUST LIMITED (A company limitsd by guardntee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Tru51ees present their annual report together the financial statements of the Company for the year 1 January 2024 to 31 December 2024. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confimi that Ihe Annual report and financial statements of the haritable company comply with the current ststutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance Vth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (strategic Report and Directors, Report) Regulab'ons 2013 has been omitted. Objectives and activities Achievements and perfomiance Main aGhievements of the Company Whitehaven Community Trust is a diverse and flexible charitable organisation that has been delivering socially relevant projects for the benefit of the local community for the past 34 years. We are committed to tackling Social disadvantage and reducing the impact associated wth various related issues. including homelessnes5. poverty, and health and wellbeing, throughout the district of Copeland and beyond. Over the years our core areas of expertise with young people aged 16 - 24 years has emerged. The Trust's flagship project. the Market Hall Cafe. which opened in 1993. provided training and work experience for 715 young people durlng its 20 years of operation. Building on the experience gained with the young people in the cafe and responding to the lack of supported accommodation in the Copeland area, the trust opened it5 first supported housing project, Bakewell House, in 1998: offering a stable, secure and comfortable living environment for 16 24 year olds, originally M*ith 24 hour support later reduced due to funding cut backs. Due to high demand for places a second young person's homeless hostel, 1 Lowther Street. opened in 2005. A further propety, Smith House, was secured in 2011 wth funding from Francis C Scott Trust and Copeland Community Fund. This was renovated and converted into four studio trainer flats known as our'move on Project, to benefit the young people of our Homeless Hostels. Over 700 young people were supported in the hostels until changes to the contract with Cumbria County Council led to the Trust withdrawing from the tender process in June 2016 and the subsequent closure of the hostels. In 2020 the Trust was given the opportunity by a local business man to increase our 'Move on Flat, from 4 to 9 with the addition of Wulstan Hall. The flats are supported by a floating support worker and since opening 22 young people have successfully moved into social housing. During the 2016117 year the Trust Vrked tirelessly to secure altemative funding to re-open the H05tel5. Bakewell House re-opened in October 2017 as a "Mother and Baby" Unit which has helped 118 young women and 21 children aged from new born to 7 years old. In 2024 we helped 24 young vnmen and 3 babies. Lowiher Street reopened in December 2017 for homeless 16 - 24 year olds and has helped 299 young people in crisis and in 2024 we helped 37 young people. The Trust also owns the Senhouse Centre - "A place for Healthy Living" lch opened in May 2000 with aim of promoting healthy living in the community. The centre has therapists, counsellors and community groups using the facilities who supply a range of treatments and services. The rental income from this enables the Trust to give free room hire to groups and counsellors offering free services to the local community. The centre provides employment for one part time stsff, and one volunteer. For 7 years the Trust successfully ran the wellbeing programme from the Senhouse Centre. which was funded by The Big Lottery and provided free Services in confidential listening. young person's anger and stress management, stress awareness workshops, support groups, self-esteem and self confidence vmrkshops. Senhouse Centre has had 11,000 people use the centre in 2024. Page 2
WHITEHAVEN COMMUNITY TRUST LIMITED (A company limited by guarnntee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and perfonnance (continued) The site of the old Whitehaven Pottery is now the home of the Whitehaven Community Trust's main office. Previously purchased by the Trust and used as a comrnercial pottery offering bespoke ceramics to order, the building was refurbished in 2015 when the Trust relocated its main offices from the Market Hall. Situated in the town's market place, the building also offers affordable town centre office space for other local charities and community groups. b. Investment policy and perfomiance Any short term surplus cash is deposited National Westminster Bank Plc. No medium or long term investments are held by the company. Financial review . Going concem After making appropriate enquiries. the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves policy The trustees consider the current level of reserves as adequate, however en the freehold and leasehold property reserve and revaluation reserves are excluded. reserve5 Stand at £326,937. Future delivery of activities is dependent upon receiving funding. hoVver the charity has a good relationship with its funding agents and the trustees believe funding 15 expected to be maintained. In 2024 £110,000 from Edward Gosling was re-invested in the CCLA account. . Transactions and financial position The statement of financial activities sh¢)ws net income for the year of £352,598 and at the year end, the reserves stand at £1,966,979 in total. Included wthin the financial statements is the designated reserve for the Freehold and Leasehold propertÈes vknich are included at valuation. It has been necessary to create the reserve in order to give a tnFe representab'on of the level of reserves available for the charity use to meet its day to day charitable activities. The freehold and leasehold property reserve is £1,340.666. Details of movements in fixed assets are set out in note g to the accounts. The trustees have previously revalued various properties owned by the char5ty Nthich led to a revaluation reserve of £567,012. structure, govemance and management . Constitution Whilehaven Community Trust Limited (known hereafter as WCT), vrds incorporated on the 12 December 1996 and is constituted as a company limited by guarantee, and is therefore governed by a rnemorandum and articles of association. The company was registered as a charity wtth the Charity Commission for England and Wales on 20 January 1997. Page 3
WHITEHAVEN COMMUNtrY TRUST UMITED (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structurei govemance and management (continued) b. Methods of appointment or election of Trustees The Trustees are from a variety of relevant professional business and charitsble background with a nurnber having experience in the charity field. The comp051tion of the trustees, board and their experience and skills are regularly reviewed, to ensure the number and balance of the trustees remains appropriate. . Organisational structure and decisionwmaking policies The trustees meet quarterly to review and manage the operation of the WCT. The WCT Team now includes 5 Directors, 8 full time staff and 3 part time staff. One of the directors is a financial director who maintains the charity's financial systems. The WCT Team meet quarterly to review and plan actiwties. d. Flnanclal risk management The trustees actively review the major risks vthich the charity faces on a regular basis and believe that maintaining reserves at current levels. combined with an annual review of controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confimi that they have established systems to mitigate the significant risks. Plans for future periods During 2024 an incredible opportunity for the Trust came from The Edward Goslling Foundation which appointed us as having them as a legacy funder for the next 5 years. The Trust is now also in partnership ryth Cumbria Northumberland Tyne & Wear NHS Foundation for the development of the Mental Hub in the old Halifax bank on King Street. The NHS have gifted the ownership of the building to WCT for it to be used w7thin the communty, developments V11 start in 2025 with an opening date later in the year. The Trust is continuing to engage SUCssfUllY with our professional fundraiser. We will continue to support staff with quality training and development. We aim to provide our Servi users and clients with a quality semce across all our projects. Page 4
WHITEHAVEN COMMUNITY TRUST UMrrED (A company limited by guarnntee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Stat8m8nt of Trustees, responsibilities The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that peri¢Jd. In preparing these financial statements, the Trustees are required to- select suitable accounting policies and then apply them consistently, observe the methods and principles of the Charities SORP (FRS 102); make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Stsndards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose vAth reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply wth the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mr M Parlett Trustee (Chair) Date: 18 September 2025 Page 5
WHITEHAVEN COMMUNrrY TRUST UMITED (A compary limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examiner's report to the Trustees of Whitehaven Community Trust Limited (Yhe Company.) I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2024. Responsibilities and basis of report As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance wÉth 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 the Company's accounts carried out under section 145 of the Charities Act 2011 (Yhe 2011 Ac¥}. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5)(b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in Gonnection with 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 wth the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fail view 7which is not a matter considered as part of an independent examination- or the accounts have not been prepared in accordance wth the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021]. 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. This report is made solely to the Company's Trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stste to the Company's Trustees those matters l am required to stste to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report. Signed-. Dated: i fl.oq .?J BFP FCA ATT MAAT steven Kirkbride Amistrong Watson LLP - Workington Page 6
WHITEHAVEN COMMUNrrY TRUST LIMITED (A company limited by guardntee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Restricted fvnds 2024 Totsl funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities 26,887 287,662 9,453 269,000 295,887 287,662 9,453 128,117 238, 100 3,861 Investment income Total income 324,002 269.000 593,002 370,078 Expenditure on". Charitable aclivities 372,564 108,340 480,904 443,092 Total expenditure 372,564 108,340 480,904 443. 092 Net movement in funds (48,562) 160,660 112,098 (73,014) Reconciliation of funds: Total funds brought forward Net movement in funds 1,580,230 (48,562 34,151 160.660 1.614,381 112,098 1,687,395 (73,074) Total funds carried forward 1.531,668 194,811 1,726,479 1,614,381 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 10 to 21 form part of these financial statements. Page 7
WHtrEHAVEN COMMUNITY TRUST UMITED (A company limited by guarantee) REGISTERED NUMBER: 03291380 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed assets Tangible asset5 1,332,373 1, 348, 738 1,332.373 1, 348, 738 Current assets Debtors 10 2,474 627,502 2, 602 268, 165 Cash at bank and in hand 629,976 270,767 Creditors.. amounts falling due within one year 15,870) (5, 124) Net current assets 624,106 265,643 Total assets less current liabilities 1,956,479 1,614,381 Deferred income (230,000) Net assets excluding pension asset 1,726.479 1,614,381 Totsl net assets 1,726,479 1,674,381 Charity funds Restricted funds Unrestricted funds 194,811 1,531,668 34,151 1,580,230 Total funds 1,726,479 1,674,381 Page 8
WHITEHAVEN COMMUNfTY TRUST UMITED (A company limited by guarantee) REGISTERED NUMBER: 03291380 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The Company was entitled to exemption from audit under secb.on 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees aCknOedge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial ststements have been prepared in accordance Vth the provision5 applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Mr M Parlett Trustee (Chair) Date.. 18 September 2025 The notes on pages 10 to 21 form part of these financial statements. Page 9
WHrrEHAVEN COMMUNITY TRUST LIMITED (A company Ilmlted by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General infomiation Whitehaven Community Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 13-15 Market Place. Whitehaven, Cumbria, CA28 7JB. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 102) Accounting and Reporting by Chartbes= Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Whitehaven Community Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are inib.ally recognised at historical cost or transaction value unless otherwise ststed in the relevant accounting policy. 2.2 Going concern .At the time of approving the financial statements, the trustees have a reasonable expectation that the charilable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial stateements. 2.3 Income All income is recognised once the Company has entitlement to the income, it is probable that the income wll be received and the amount of income receivable can be measured reliably. Granls are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occur5 before income is received, the income is accrued. Income tsx recoverable in relation to investment income is recognised at the time the investment income is receivable. 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activty are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attribulable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support casts which are not attributsble to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Page 10
WHITEHAVEN COMMUNrrY TRUST LIMITED (A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2.5 Taxation The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charilable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received wthin categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gain5 Act 1992, to the extent that such income or gain5 are applied exclusively to charitable purposes. 2.6 Tangible fixed assets and depreciation Tangible fixed assets costing £NIL or more are capitalised and recognised when future economi benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 1 costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cosL Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful Itves, Depreciation is provided on the following bases: Freehold property Fi*(ures and fittings 100 years straight line basis 4 years straight line basis 2.7 Debtors Trade and other debtors are recognised at the setttement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and in hand Cash at bank and in hand includes cash and short-terni highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.9 Liabilities Liabilities and provisions are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit Y11 be required in settlement, and the amount of the setuement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or seNces it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwnding of the discount is recognised in the Statement of financial activities as a finance cost. Page11
WHITEHAVEN COMMUNITY TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2.10 Financial instrurnents The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans thich are subsequently measured at amortised cost using the effective interest method. 2.11 Pensions The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year. 2.12 Fund accounting General fvnds are unrestricted funds thich are available for use at the discretion of the Trustees in furtherance of the general objective5 of the Company and thich have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are fvnds lch are to be used in accordance wth specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investrnent income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations and gifts Grants 2.702 24.185 2,702 293,185 8,999 119,118 269.000 26,887 269.000 295,887 t28,117 Total 2023 28.117 100,000 128,117 Page 12
WHITEHAVEN COMMUNITY TRUST LIMITED . (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from Gharitable activities Unrestricted funds 2024 Total funds 2024 Total funds 2023 CBC- Housing benefit Room hire and other 234,494 53,168 234,494 53,168 181,866 56,234 287,662 287.662 238, 100 Total 2023 238, 100 238,100 Investment income Unrestricted funds 2024 Total funds 2024 Total runds 2023 Interest receivable 9,453 9,453 3,861 Total 2023 3,861 3,861 Analysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Tolal funds 2023 Unrestricted expenditure Restricted expenditure 357,446 108,340 15,118 372,564 108,340 230,828 212,264 465,786 15,118 480,904 443, 092 Total 2023 424,873 18.219 443,092 Page 13
WHITEHAVEN COMMUNITY TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expenditure by activities (continued) Analysis of direct costs Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Staff costs Depreciation Training costs Rent and rates Light, heat and power Insurance Repairs and renevtsls Telephone Printing, postage and stationery Security and other costs Legal and professional fees Bank charges 110,160 16,365 385 108.340 218,500 16,365 385 226, 194 16,361 2,462 11,630 11,255 23,473 30,413 5,846 723 14.579 26,043 23,906 33,329 5.650 14,579 26,043 23,906 33,329 5,650 1,088 106,650 18,815 476 1,088 106,650 18,815 476 78, 885 17,176 455 357,446 108,340 465,786 424,873 Total 2023 212.609 212,264 424,873 Analysis of support costs Unrestricted funds 2024 Total funds 2024 Total funds 2023 staff costs Other govemance costs Legal and professional fees 10,042 1,200 3,876 10,042 1,200 3,876 13,027 1,200 3,992 15,118 15,118 18,219 Total 2023 18,219 18,279 Page 14
WHITEHAVEN COMMUNtrY TRUST UMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 216.122 8,Q50 4,370 225, 797 8,943 4.481 228,542 239,221 The average number of persons employed by the Company during the year was as follows.. 2024 2023 Chief executive and company secretary Direct charitable work Charitable administration and management 10 11 13 No employee received remuneration amounting to more than £60,000 in either year. Trustees, remuneration and expenses During the year, no TTUStees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL). Page15
WHITEHAVEN COMMUNrrY TRUST LIMITED (A company limltsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Tangible fixed assets Freehold land and Fixtures and buildings equipment Total Cost or valuation At 1 January 2024 1.514,628 42,909 1,557,537 At 31 December 2024 1,514,628 42,909 1,557,537 Depreciation At 1 January 2024 Charge for the year 169,316 15,146 39,483 1,219 208,799 16,365 At 31 December 2024 184,462 40,702 225,164 Net book value At 31 December 2024 1.330,166 2,207 1,332,373 At 31 December 2023 1,345,312 3,426 t,348, 738 Page 16
WHITEHAVEN COMMUNITY TRUST LIMITED {A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Tangible fixed assets (continued) The Charity owns the followng freehold properties: (a) Senhouse Centre. 3 Senhouse Street, Whitehaven This property was aquired in 1999 at a cost of £60,000, for use as a healthy living centre. Refurbishment work was carried out and in 2003 the property was revalued at £300,000. Since then further work has been carried out on the property and as at 31 December 2024 the net book value is £347,072. (bl 1 Lowther Street, Whitehaven This property was aquired in 2002 and at a cost of £90,000, for use as a hostel for teenage pregnancies and to provide support for young women through all stages of pregnancy. Renovation work has been carried out and in 2004 the property was revalued at £260.000. Since then further work has been carried out on the property and at 31 December 2024 the net book value is £219,902. {G) Smith House, 14114A Churth Street, Whitehaven This property was aquired in 2010 at a cost of £74,942, for use as part of the "Move On Project" to help young people move out of hostels and take a step towrads unsupported living. Renovation was has been carried out on the property to convert it into four flats. As at 31 December 2024 the net book value is £237,742. (dl Bakewell House. 41 Lowther Street. Whitehaven This propety was aquired in 1997 with funds from the Big Lottery Fund for use as a hostel. The Fund previously held an interest in the propety, however the liability period has now ended and the Big Lottery Fund have confirmed that they no longer have an interest in the property and there is no restriction on the tille or any reference to a legal charge. The Trust is now free to deal wtth the property without requiring any consent from the Big Lottery Fund and during 2018 it carrted out improvements to the property. As at 31 DeGemebr 2024 the net book value is £199,950. le) Whitehaven Pottery, 13-15 Market Place, Whitehaven This property was acquired in 2001 yth fund5 from the New Opportunities Fund, held an interest in the property. It includes a pottery workshop, a shop and offices. The New Opportunities Fund have confirmed that they no longer have an interest in the property and there is no restriction on the title or any reference to a legal charge. The Trust is now free to deal wth the property wthout requiring any consent from the New Opportunits'es Fund. As at 31 December 2024 the net book value is £336,000. In addition to the revaluation of the Whitehaven Pottery propety last year, during 2003 and 2004 the freehold properties at Senhouse Centre and 1 Lowther stet were revalued by the Trustees and in 2017 the property at Bakewell House was also revalued. The unrealised surplus on revaluation, which surplus primarily reflects a fair value on the properties. is included in the accounts at £567,013 as at 31 December 2024. 10. Debtors 2024 2023 Due within one year Prepayments and accrued income 2,474 2.602 2,474 2, 602 Page 17
WHITEHAVEN COMMUNrrY TRUST LIMITED (A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Creditors: Amounts falling due within one year 2024 2023 Pension fund loan payable Accruals and deferred income 12 5,858 12 5,112 5,870 5,124 12. Accruals and deferred income 2024 2023 Northumberland Tynelcumbrta Health Trust 230,000 13. Statement of funds Statement of funds - current year Balance at 31 December 2024 Balance at I January 2024 Transfers inlout Income Expenditure Unrestricted funds Designated funds Designated Funds- all funds 573.231 {6,219) 567,012 General funds General Funds all funds 1,006,999 324,002 (372,564) 6,219 964,656 Total Unrestricted funds 1,580,230 324.002 (372,564) 1,531,668 Restricted funds staffing and running costs Edward gosling legacy 34,151 159,000 110.000 (108,340) 84,811 110,000 34,151 269,000 1108.340) 194,811 Total of funds 1,614,381 593,002 {480,9041 1,726,479 Page 18
WHITEHAVEN COMMUNrrY TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Statemènt of funds (contlnued) Statement of funds - prior year Balance at 31 December 2023 Balance at l January 2023 Transfers in/out Income Expenditure Unrestricted funds Designated funds Designated Funds - all funds 579,450 (6,219J 573,231 General funds General Funds - all funds 961,530 270.078 {230, 828) 6,219 1.006,999 Total Unrestricted funds 1,540, 980 270,078 {230, 828) 1,580, 230 Rèstricted funds Staffing and running costs Refurbishment 138.915 7.500 700.000 (204, 764) (7.500) 34, 151 146,475 100,000 {272,264) 34,151 Total of funds 1.687,395 370,078 (443,092) 1,614,381 The restricted funds are as follows-. Staff and running costs - Funding Nyas received from multiple donors to help th the staffing and running costs of Bakewell House and Lowiher Street which enabled the mother and baby unit and housing provision to Garry on running. Refurbishment and renewals Funding yS reGeived from multiple donors to help wth the kitchen refurbishment at Lowther Street as well as other repairs and also to purchase items such as beds and fumiture. Edward Gosling legacy - Funding was received from The Edward Gosling Foundation which appointed the charity as a legacy funder for the next 5 years. The fund will support any deficits that occur in the next 5 years, thereafter all remaining funds are to be treated as unrestricted. Northumberland tynelcumbria heatth trust - Funding was received for the development of the Mental Health Hub in the old Halifax bank on King Street, Whitehaven. Page 19
WHITEHAVEN COMMUNrrY TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14. Summary offunds Summary of funds- current year Balance at 31 Decembor 2024 Balance at 1 January 2024 Transfers inlout Income Expenditure Designated funds General funds Restricted funds 573,231 1,006,999 34,151 (6,219) 6,219 567,012 964,656 194,811 324,002 269.000 (372.564) 1108,340) 1.614,381 593,002 (480,9041 1,726,479 Summary of funds- prioryear Balance at 31 December 2023 Balance al 1 January 2023 Transfers in/out Income Expenditure Designated funds General funds Restricted funds 579.450 967,530 146.415 (6,219) 6,219 573,231 1,006,999 34,151 270,078 100.000 (230, 828) (212. 264) 1. 687,395 370,078 (443,092) 1,614,381 The unrestricted funds of the charity COTnprise the unexpected balances of donations and grants whch are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. 15. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets 1.332,373 435.165 (5,870) (230,000) 1,332,373 629,976 15,870) (230,000) 194,811 Creditors due within one year Deferred income Total 1.531,668 194,811 1,726,479 Page 20
WHITEHAVEN COMMUNrfY TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior period Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due wthin one year 1.348, 738 236,616 (5, 124J 1,348, 738 270,767 (5,124) 34,151 Total 1,580,230 34,151 1,614,381 16. Pension commitments The charttable company operates a defined contribution pension scheme for all qualrfying employees. The assets of the scheme are held seperately from those of the charitable company inan independently administered fund. The charge to profit and loss in respect of the defined contribution schemes amounted to £8,050 (2023- £8,943). 17. Related party trdnsactions The Company has not entered into any related party transaction during the year. nor are there any outstanding balances owng betsen related parties and the Company at 31 December 2024. Page 21