SEAHOUSES DEVELOPMENT TRUST c•npany limltad by gu3rant•e afid not having a fjhare ¢a*fj CHAIIITY NUMBER 107561 COAIPANY NUMBER 3265921 IEngland and Wales) TRUSTEES REPORT AND UNALIOITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2025 Seohouses i).
SEAHOUSES DEVELOPMENT TRUST LEGAL AND ADMINISTRATIVE INFORMATION Name of Charity Seahouses Development Trust Incorporation The organisation was incorporated as The North Sunderland and Seahouses Development Trust on 18 October 1996 and registered as a charity on 20 May 1999. Governing documents were amended by special resolutions on 15 April 1998, 6 April 1999 and 19 October 2009 and the name changed to Seahouses Development Trust on 21 November 2009. Registered Charity No 1075610 Registered Company No 3265921 Directors l Trustees G Scott S Smith S Hillian C Brunt M Jordan G Renner-Thompson Rev A Macpherson M Archer J Sharma G Fairs Hon Treasurer C Brunt Secretary S Hillian Registered Office Seahouses Hub Stone Close Seahouses Northurnberland NE68 7YL Independent Examiner Richard Alsept ACA 72 Kings Field, Seahouses, Northumberland NE68 7PA Bankers Unity Trust Bank Nine Brindley Place Birrningham 812HB
SEAHOUSES DEVELOPMENT TRUST CONTENTS Page Trustees Report Independent Examiners Report 10 ststement of Financial Activities 11 Balance Sheet 12 Notes to the Financial Statements 13-21
SEAHOUSES DEVELOPMENT TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025 Introduction The Trustees present their report and the financial statements for the year ended 31 March 2025. We have prepared the annual report and financial statements in accordance with the accounting policies set out in note 1 and in compliance with the charity's governing document, the Companies Act 2006, and the Statement of Recommended Practice (SORP)"AccoLJnting and Reporting by Charities" issued in January 2019. This report covers the financial year ended 31 March 2025. Financially. our trading subsidiary has continued to make a contribution to the Trust. The Trust continues to strengthen its financial position. Governance, Structure and Management The Trust is a company limited by guarantee and is governed by a memorandum and articles of association. The charity exists for the benefit of the inhabitants of Seahouses and surrounding areas. Appointment of Trustees Ten members can be appointed by nominating organisations although at the date of this report only two has chosen to do so. Up to five further members are elected from the community. Trustees can be co-opted during the year to fill vacancies but must then be re- elected at the next Annual General Meeting. As suggested above, over the last few years a number of the nominating organisations has chosen not to appoint a trustee, and this restricts the flexibility to get new trustees, We have therefore changed our constitution at an AGM to restrict the nominating organisations to those who have a direct interest and to have a greater number of elected trustees. Page 4
SEAHOUSES DEVELOPMENT TRUST Directors and Trustees The trustees, who are also the directors for the purposes of company law, who served during the year andlor up to the date of approval of these accounts are.. G Scott (Elected) G Renner-Thompson, nominated by Northumberland County Council S Smith, {Elected) S Hillian, nominated by North Sunderland Parish Council C Brunt (Vice Chair) (Elected) M Jordan (Elected) Rev A Macpherson (Elected) M Archer (Elected) J Sharma (Elected) G Fairs (Elected) AKG Wardropper (Elected) - died 17th June 2025 None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of any winding up. Trustees Induction In October 2005, a trustees, code of conduct was adopted. The code was introduced at the request of trustees to reflect the increased levels of accountability elsewhere in public life. The code brings awareness to all trustees about their responsibilities as directors of the company and what duties they have to fellow trustees. The code also aims to protect trustees in their duties on the management committee. welcome pack has also been prepared, including information from the Charity Commission and the National Council of Voluntary Organisations. This is distributed to all new trustees along with a copy of the rnemorandum and articles of association along with the latest financial statements and meeting minutes. Tradlng subsidlary The charity has one trading subsidiary which was established to generate profits to support for the charity through the provision of services to the community. The subsidiary Seahouses Luxury Linen Hire was established and incorporated in 2018. This service acts as an agency for a large linen supply company based in Newcastle. The purpose is to provide local hotels, B&Bs and holiday lets with high quality serviced linen. The trustees of the charity appoint the d1CtorS of the subsidiary company. The Trust has not prepared consolidated accounts as the gross income of the group in the accounting period is less than the audit threshold under the Charities Act 2011. Page 5
SEAHOUSES DEVELOPMENT TRUST Risk Management The trustees are aware of the need to assess the major financial risks to the organisation. At 31 March 2025 the unrestricted reserves of the Charity were approximately £52,000 131, March 2024 £51,000). Whilst the level of unrestricted reserves has grown in recent years, the building of core reserves remains a priority The charity's reserves policy is to manage its affairs to maintain unrestricted reserves above a level of three months expenditure, This policy objective is currently being met. During the period, the trustees reviewed the trading environment of its subsidiary. Seahouses Luxury Linen Hire (SLLH) caters for the linen and laundry needs of the local holiday businesses, SLLH acts as an agent for an established linen hire service and is considered a low-risk commercial venture suitable to the risk profile of the trust, Objectives and Activitie5 The Trust's objects were to strengthen the community through seniing individual needs and improving conditions in the local area. Five strategic areas have been identified- To develop a diverse, robust economy To foster partnerships, links and networks that create a strategic approach to the development of Seahouses and its surrounding communities. To promote and sustain the area's natural environmental assets and maintain and enhance the character and identities of its villages. To develop a healthy, active, diverse and connected community. And to work towards the sustainability of the Trust by establishing social enterprise projects. Performance Review for the year to 31 March 2025 The Trust continues to make a meaningful difference in the local community through a diverse range of face-to-face services and initiatives. One of the most popular projects is the community cinema, which screens a broad selection of recent film releases, catering to audiences of all ages and interesls, and creating a welcoming space for shared cultural experiences, In collaboration with Northumberland County Council, the Trust provides a vital book lending service, alongside free computer and intemet access at the Hub. Staff are on hand to offer friendly, basic IT support to those who may feel less confident navigating digital technology, ensuring no one is left behind in the digital age. The trust runs the highly successful Seahouses Youth Project, which regularly supports over 24 young people each week. This initiative includes a weekly youth club for 8-13 year-olds and the Young Adventurers programme for 13-18 year-olds, offering exciting outdoor activities that build confidence, teamwork, and a love of nature. The Trust also supports community wellbeing through a variety of regular groups, including keep fit, crafts, chess, and social gatherings. It actively supports and collaborates with local organisations that use the Hub, such as the Outdoor Bowling Club, Book Club, Page 6
SEAHOUSES DEVELOPMENT TRUST Proggy Mat Group, Festive Lights volunteers, and Northumberland coast National Landscapes. The trust works closely with Bell View a local charity based in nearby Belford, supporting weekly coffee mornings and monthly Fish & Chip lunches hosted at the Hub. Volunteers are at the heart of the Trust's work. With a team of 30 dedicated individuals, the Trust coordinates efforts across its activities and produces a well-received bi-monthly Village Newsletter which is delivered to approximately 1800 homes. Financially the trust has been supported by a number of grant funders, which has enabled it to provide much needed support and services to local people. The Lord Crewe's Charity and Children in Need have provided multi-year funding for the Youth Project, ensuring its continuity and allowing time to secure further resources. Additional grants have been received from the Ballinger Trust, Community Foundation, FB & PFB Lough Fund, and the Sir James Knott Trust, each contributing to the Trust's long-term resilience and growth. Thanks to the generous support of several grant funders, local organisations and using some of the trusts own reserves, the Trust successfully secured all the funding to transform the old tennis courts into a vibrant new Multi-use Games Area {MUGA), Contributions were received from The Readman Family Grassroots Fund, Councillor Guy Renner-Thompson through the Members Local Improvement Scheme, The Lord Crewe Trust, North Sunderland Parish Council, Bamburgh Parish Council, Beadnell Parish Council, and Seahouses RNLI. This exciting redevelopment will breathe new life into the space, offering a versatile and inclusive facility for sports and recreation. The MUGA is set to become a valuable asset for the community-providing opportunities for physical activity, social engagement, and outdoor fun for both local residents and visitors alike. It marks a significant step forward in enhancing the area's amenities and promoting wellbeing across all age groups. Barclays Bank rents a room at the Hub three times a week to offer a community-based banking service, This partnership not only enhances local access to financial services but also provides the Trust with a valuable source of earned income. Seahouses Luxury Linen Hire The results for the subsidiary are reported in note 4 to the accounts. The linen hire service continues to grow and produce an income for the trust. Financial Status The Trustees believe that our core costs are manageable, and these were met from the activities at the Community Centre, including the Cinema, profits of the trading subsidiary, and specific core cost grants. We believe that the financial position is stable and can support applications for new funding. The charity continues to build its core (unrestricted) reserves, and at 31st March 2025 these stood at £52,501 (2024.. £51,427). This represents approximately six months, core costs. Page 7
SEAHOUSES DEVELOPMENT TRUST The trustees therefore believe that the charity has sufficient resources to continue operating for the foreseeable future and to meet its liabilities. The going concern basis has therefore been adopted in preparing the financial accounts, in accordance with the Statement of Trustees Responsibilities below. Trustees, Responsibilities Charity law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of the affairs of the charity and of its financial activities for that year, together with its assets and liabilities at the end of the period, and adequately distinguish any material special trust or other restricted fund of the charity. In preparing those financial statements the trustees are required to,. select suitable accounting policies and apply them consistently. make judgements and estimates that are reasonable and prudent; state whether the policies adopted are in accordance with the appropriate SORP on Accounting by Charities and the Accounting Regulations and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time, th8 financi81 position of the charity, and enable them to ensure that the financial statements comply with applicable Accounting Standards and Statements of Recommended Practice and the regulations made under the Charities Act 2011. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. So far as the trustees are aware, there is no relevant information needed by the company's independent examiner, in connection with preparing his report, of which the company s examiner is unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's examiner is aware of that information. Objectives and future work The trust seeks to provide a local community organisation with the capacity to create and take opportunities, develop, and manage projects, deliver services, and to create sustainable income streams to support these aims, for the social and economic benefit of the area and its inhabitants. It will seek to be a focal point for identifying local needs, and then deciding which of these needs it can meet itself. It will also work with other partners, networks and organisations to address needs it cannot meet on its own. In doing this it will seek.. Page 8
SEAHOUSES DEVELOPMENT TRUST To deveSop projects which lead to a better environment for young people, combat -xcILision and isolation among older people and other vulnerable groups. To support and enhance the local economy by promoting the area, creating sustainable IncoryTre ijefjeraling employmerit. To bene,1 res,,dents and the area generally, and lo attraut visitors for the economic benefit of the area. It currently focuses on six projects, and also on continuing to improve its governance and finances.. A Youth project supporting events and activities for young people and teenagers in the community. A cinema and entertainment project based at the Hub. An information and office services facility for the community which incorporates a limited library service run in collaboration with Northumberland County Council. Developing a new community website. Continue to improve the village newsletter and provide a better service for the community while increasing advertising income. The completion of the Multi-use Games Area enhances the local area, and it provides sports facilities for local people and visitors. It will also provide an income stream to enable the trust to maintain the facility, and any surplus income will be used by the trust to continue to provide services and activitie) to our local cornmunity. This report was approved by the Trustees on 25th September 2025 And signed on its behalf by A MacPherson Trustee Pagc 9
SEAHOUSES DEVELOPMENT TRUST INOEPENDENT EXAMINER'S REPORT ON THE UNAUDITED FINANCIAL STATEMENTS TO THE TRUSTEES OF SEAHOUSES DEVELOPMENT TRUST. I report to the Charity Trustses on my examination of the accounts of The Trust for the year ended 31 March 2025, which are set out on pages 11 to 21, Respective rasponsibilities and basis of report The trustees are responsible for the preparation of the accounts. Having satisfied myself that the accounts of the charity are not required to be audited, and are eligible ft>r 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 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5}(b) of the 2011 Act. Indop•ndent examlnerfs Statement I have completed my examination. I confimi that no matters have come to my attention in connection with my examination giving me cause to believe.. (1) accounting records were not kept in respect of the Charty as required by section 130 of the 2011 Act: or (2) the accounts do not accord with those record8; or (3) the accounts do not comply with the accounting requirements of section 130 of the 2011 Act other than the requirement that the 8ccounts give a Irue and fairf view which is not a matter considered as part of an Independent Examination.. and (4) the accounts have not been prepared in accordance wlth the methods and principles of the Slaternent of Recommended Pr8Ctice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK {FRS102)). I have no conc8ms and have come acro88 no matters in connection with the examination to which attention should be drawn in this report in ord8r to enable a proper understanding of the accounts to b8 reached. DATE 25th September 2025 Rlchard AlseptACA 72 lQngs Fleld, Seahouses NE68 7PA Page 10
SEAHOUSES DEVELOPMENT TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 (including the Income and Expenditure Account) Notes Unrestricted Designated Restricted TOTAL TOTAL 2025 2024 INCOME Income from.. Donations and fundraising Charitable activities - Grants Charitable activities Interest income Rental income 8,646 30,000 27,885 1,167 25.746 93.444 2,058 66,000 10,704 96,000 27,885 1,167 25,746 161,502 15,460 78,200 26,567 1,142 19,756 141,125 68,058 Total charitable income 93,444 68,058 161,502 141,125 EXPENDITURE Charitable activities Charitable activitie5 - Operation of the Trust Depreciation Governance 100,914 887 450 29,983 130,897 887 450 124,449 1,164 450 Total charitable expenditure 102,251 132234 126063 Net income l (expenditure) (8,807) 38,075 29,268 15,062 Transfers 9.881 (9,881) Net movement in funds for the year 1,074 (9,881) 38,075 29,268 15,062 Fund balances brought for4vard 51,427 10,358 56,180 117965 102903 Fund balances carried forward 52,501 477 94.255 147,233 117,965 The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing activities. Page 11
SEAHOUSES DEVELOPMENT TRUST BALANCE SHEET AS AT 31 MARCH 2025 Notes 2025 2024 Fixed Assets Tangible assets 88,434 88,434 3,496 3,496 Current Assets Debtors Cash at bank and in hand 9,098 55,714 64,812 10,493 107,545 118,038 Creditors: Amounts falling due within one year Creditors 6,013 3,569 Net Current Assets 58,799 114,469 Total Assets Less Current Liabilities 147,233 117,965 Creditors: Amounts falling due after more than one year 12 Net Assets 147 233 117965 Funds Unrestricted Funds Designated Funds Restricted Funds 52,501 477 94,255 51,427 10,358 56,180 14 13 147 233 117965 For the financial period ended 31 March 2025, the company was entitled to exemption from audit under section 477111 of th8 Companies Acl 2006. and no notice has been deposited under section 47611) requesting an audit. The trustees acknowledge their responsibilitles for ensuring that the company keeps accounting record5 which comply with sedion 386 of the Act and preparing accounts which give a true and fair view of the stale of affairs cf the company a5 at the end of the period and af its profit or loss for the financial period in accordance with the requirement5 of 5eGtion 394 and which otherwise comply with the Companies Act 2006, so far a5 applicable to the company. The financial stat8ments have be8n prepared in accordance with the provision5 of Financial Reporting standard 102, Section 1 a Small Enlitie5. Approved by the Board on 251h September 2025 and signed on its behalf by: A MacPherson, Trustee Page 12
SEAHOUSES DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng Pollcies General information, Accounting basis and standards The company is a private company, limlited by guarantee, incorporated in England. The company constitutes a pu,blic benefit entity as defined by FRS 102 The address of the registered office is: Seahouses Hub Stone Close Seahouses Northumberland NE68 7YL These financial statements were authorised for issue by the Board on 251h September 2025. The financial staternents are prepared under the historical cost convention and in accordance with the provisions of Financial Reporting Standard 102, Section 1 a Small Entities, and the Charity Statement of Recommended Practice, (Charities SORP (FRS 102) 2019), as well as the Charities Act 2011. The financial statements have been prepared on a going concern basis. The directors consider that the going concern basis is still appropriate, supported by the reasons set out in the Trustees Report, arryd the review of events after the year end, also as described in the Trustees Report, 1.2. Income Donated services and facilities are induded at the value to the charity where this can be quantified. The value of 6e.rvices provided by volunteers has not been included. Grants where entitlernent is not.conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Incoming resources from grants, where related to perfomiance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. All in4x)ming resources are included when the trust is legally entitled to the income and the amount can be quantifjed with reasonable accuracy. 1.3 Expenditure Resource5 expended are recognised in the period in which they are incurred and include attn'butable VAT which cannot be recoyered because the charity is not registered for VAT. Charitable expenditure ,in,oludes those costs incurred by the charity irry the delivery of its activities and servicEs for benefioiaries. Governance costs indude costs associated with meeting the constitutional and statutory requirernents of tlje char*ty and include accountancy fees. Page 13
SEAHOUSES DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2025 All costs are allocated between the expenditure categories of the statement of financial activities on a basis designed to reflect the use of the resource. Costs relating to a specific activity are allocated directly, others appropriately. 1.4 Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less depreciation. Fixed assets are capitalised, at cost where the purchase price exceeds £200. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over Its expected useful life, as follows.. Freehold land & buildings Facilities- MUGA Plant and machinery Fixtures and fittings Cinema equipment 10 % per annum, straight1ine 25 % reducing balance 250/0 reducing balance 25 % reducing balance 1.5 Accumulated Funds Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objects of the Company and represent the unrestricted balance of funds generated from previous years trading. Designated funds are unrestricted funds eamiarked by the trustees for specific purposes. Restricted funds are to be used for specific purposes as laid down by the donors and the expenditure which meets these criteria is charged to the relevant fund. Further explanation of the nature and purpose of each fund is provided in note 13 to the accounts. 2. Income: Grants and donations Unrestricted funds Designated funds Restricted funds 2025 2024 Grants and donations.. NCC CAN 20,000 1,200 12,500 20,000 6,500 15,000 Community Foundation Ballinger Charitable Trust Lord Crewe's Charity Children in Need Cinema grantsldonations Donations from subsidiaries Catherine Cookson Trust other small grants & donations etc. 10.000 20,000 40,000 50,000 20,000 7,000 15,000 7,000 15,000 4,903 4,903 4,927 7,960 7,960 10,137 3.000 686 38,646 1,155 68,058 1,841 106,704 396 93,660 Page 14
SEAHOUSES DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 3. Rental and other income 2025 2024 Rental income - Hub other charitable activities Insurance claim Interest receivable 25,746 26,335 1,550 1,167 54,798 19,756 26,567 1.142 47,465 4. Commercial trading operations and investment in trading subsidiary The wholly owned subsidiary, Seahouses Luxury Linen Hire, which is incorporated in the United Kingdom pays its taxable profits to the charity by gift aid, The charity is the sole member and liability is limited to £1. A summary of the trading results of Seahouses Luxury Linen Hire Limited is shown below: 2025 Summary profit and loss account Turnover Cost of sales Gross profit Donation to SDT Administration expenses Profit for the year 60,321 51,758 8,563 7,960 603 5. Commercial trading operations and investment in trading sub5idiarles A summary of income received by each company in the group is shown below. Group turnover was below the audit threshold set by the Charity Commission. Turnover Luxury Linen Hire 60,321 Development Trust 161,502 221 ,823 Page 15
SEAHOUSES DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 6. Total expenditure Staff costs Other costs Total 2025 Depreciation Charitable activities.. Operation and development of the trust Governance costs 79,102 887 51,795 450 131,784 450 79,102 887 52,245 132,234 Governance costs includes payments to the independent examiner of £450 (2024 - £450) for independent examination fees. Page 16
SEAHOUSES DEVELOPMENT TRUST NOTES TO THE FINANC1AL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 7. Employees Number of employees The average monthly number of employees (full-time equivalents) during the year was.. 2025 Number 2024 Number Trust management Youth project Hub Trading subsidiaries Employment costs Wages and salaries Employer Nl & pension costs 78,018 73,889 1,084 79,102 1,595 75,484 There were no employees whose annual emoluments exceeded £60,000 8. Trustees None of the trustees (or any person connected with them) received any remuneration or benefits from the charity during the year. The charity's regulations do not permit the payment of remuneration to trustees. Page 17
SEAHOUSES DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAFiCH 2025 Tangible fixed assets Plant & Machinery including Cinema Land & buildings Hub Faci lities Fixtures Fittings & Equipment TOTAL Cost At 1 April 2024 938,683 20,265 103,896 41,544 1,104,388 Disposals Additions 85,825 85,825 At 31 March 2025 938.683 106,090 103,896 41,544 1,190,213 Depreciation At 1 April 2024 938,683 20,113 101,158 40,938 1,100,892 Disposals Charge for the year 50 685 152 887 At 31 March 2025 938,683 20,163 1,101 779 Net book values At 31 March 2025 85,927 454 88,434 At 31 March 2024 152 2,738 606 3,496 The Charity operates from its freehold property at the Seahouses Hub, Seahouses. The Charity holds the freehold of the land. However, a restrictive Govenant is in place in favour of North Sunderland Parish Council governing use of the land and staling that in the event of sale of transfer, the property is to be offered back to Ihe Council for the nominal price of 5p. On this basis, Messrs Smith Gore have valued the property in December 2014 at 5p. The Trustees have adopted this valuation in these accounts. Page 18
SEAHOUSES DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Debtors 2025 2024 Trade debtors / grants receivable Amounts owed by trading subsidiaries 1,138 7,960 356 10,137 9,098 10,493 The amounts stated above include balances owed by related companies (see note 16). 11. Creditors: amounts falling due wlthin one year 2025 2024 Trade creditors Taxes and social security costs Accruals 4,346 1,217 450 2,103 1,016 450 6,013 3,569 12. Creditors". amounts falling due after more than one year The charity has no long-term creditors. Page 19
SEAHOUSES DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Restricted Funds Balance at 1 April 2024 Balance at 31 March 2025 Incoming resources Resources expended Transfersl Write off Revenue Funds Lord Crewe's Charity (Youth Project) Children in Need (Youth Project) Sir James Knott Trust Cinema Project donations and grants 1,751 7,000 7,016 1,735 16,909 2,520 15,000 15,544 2,520 16,365 4,903 4,903 Capital Funds (MUGA) NCC Lord Crewe Community Foundation Donations 20.000 15,000 20,000 15,000 40,000 1,155 40,000 1,155 56,180 68,058 29,983 94,255 The capital fund relates to the construction of the Multi-use Games Area (MUGA) at the Hub. The MUGA was completed in the year. 14. Deslgnated Funds Balance at 1 April 2024 Balance at 31 March 2025 Incoming resources Resources expended Transfers First responders Youth project Newsletter 477 3,493 6,388 477 <3,493) (6,388) 10,358 9,881 477 Page 20
SEAHOUSES DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of net assets between funds Fund balances at 31 sl March 2025 are represented by.. Unrestricted funds Designated funds Restricted funds Total Fixed assets Current assets 12,279 40,222 76,155 18,100 88,434 58,799 477 52,501 477 94,255 147,233 16. Related parties At 31st March 2025 the amount of £7,960 was owed to the Trust by Seahouses Luxury Linen Hire Limited (SLLH), representing trading profits for the year ended 31 sl March 2025 to be donated to the charity under Gift Aid. This amount is payable to the charity by 31 St December 2025. Trustees C Brunt and M Jordan are directors of the company. Page 21