COMPANY NUMBER: 04059497
CHARITY NUMBER: 1089402
EASTERSIDE PARTNERSHIP
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF ACCOUNTS
YEAR ENDED 31[ST] AUGUST 2024
EASTERSIDE PARTNERSHIP
MANAGEMENT COMMITTEE REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2024
The Trustees present their report and the unaudited financial statements of the charity for the year ended 31[st] August 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published in October 2019.
The trustees are directors of the Company for the purposes of the Companies Act 2006.
Introduction
Easterside has a population of about 3,200 people. Easterside Partnership is a small, resident-led voluntary organisation. Our main aim is to tackle the social, economic, environmental and community safety issues evident on our estate.
We operate from the Easterside Community Hub, a council run facility, where residents can access a range of information, advice, and support.
In planning activities, the Partnership has referred to the Charity Commission’s guidance on public benefit and considers that its activities provide benefit to the residents of Easterside and the wider community.
Reference and administrative information
Charity name Easterside Partnership Charity registration number 04059497 (England and Wales) Company registration number 1089402 Registered office and operational address Easterside Community Hub, Broughton Avenue Easterside Middlesbrough TS4 3PZ Management committee Nigel Jackson (Chair) Lynne Critchley Tony Grainge Ray Kelly Paul Whitecross Accountants Mrs J E Shield BA FCA Leonard Bye Limited 80 Borough Road Middlesbrough TS1 2JN
Unity Trust Bank
Bankers
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EASTERSIDE PARTNERSHIP
MANAGEMENT COMMITTEE REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2024
Structure, governance and management
Governing document
The organisation is a charitable company, limited by guarantee, incorporated on 24 August 2000 and registered as a charity on 19 November 2001. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.
Recruitment, appointment and training of Trustees
The directors of the company are also charity trustees for the purpose of charity law, and under the company's Articles are known as Members of the Management Committee.
Risk management
Where appropriate systems of procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with Health and Safety of staff and volunteers.
Organisational structure
The Easterside Partnership has a management committee who are responsible for the strategic direction and policy of the charity.
Related parties
There are no related parties other than Trustees and their immediate family.
Objectives and activities
The objects of the charity as set out in its Memorandum of Association are:
The promotion for the public benefit of urban or rural regeneration in areas of social and economic deprivation and in particular Easterside by all or any of the following means:
-
the relief of poverty;
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the relief of unemployment;
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the advancement of education, training or retraining, particularly among unemployed people and providing unemployed people with work experience;
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the maintenance, improvement or provision of public amenities;
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the provision of recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablement , poverty or social and economic circumstances have need of such facilities;
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the provision of public health facilities and childcare;
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the promotion of public safety and prevention of crime;
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such other means as may from time to time be determined subject to prior written consent of the Charity Commissioners for England and Wales.
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EASTERSIDE PARTNERSHIP
MANAGEMENT COMMITTEE REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2024
Reserves policy
The Trustees have established that the organisation should aim to build up free reserves of approximately 6 months’ running costs. Reserves at 31[st] August 2024 were £118,880
Achievements and performance
Chairman’s report
Great progress has been made during the year in collecting overdue Feed in tariffs from the power companies following the problems caused in 2019, when former directors resigned and the company was in danger of being dissolved. The position was exacerbated by the pandemic.
The progress made is evidenced by the substantial increase in revenue seen in the accounts, but now the position has been rectified this level of revenue will not recur in forthcoming years as we return to normal levels of income from the feed in tariffs.
As mentioned in my report last year, a finance subcommittee has been formed and although not reflected in these accounts has now received several requests for grants and payment made for eco-projects. The committee meets several times a year to consider grant requests.
I am grateful to the steering committee that meets twice a year, and whose members comprise representatives from the original partners of the project, Middlesbrough Council and the MEC (Middlesbrough Environmental City), and others from the community.
The board of directors/trustees meet three times a year, and there is an Annual meeting.
I would like to record my thanks for the efforts of all directors during the year, carried out on a voluntary basis, and to Dennis Reeves who has worked diligently in collecting the Feed in tariffs during the year.
Nigel Jackson Chairman 30[th] January 2025
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EASTERSIDE PARTNERSHIP
MANAGEMENT COMMITTEE REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2024
Statement of trustees’ (directors’) responsibilities
The trustees (who are also directors of Easterside Partnership 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, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Committee
Nigel Jackson 20 Feb 2025
Nigel Jackson (Chair)
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EASTERSIDE PARTNERSHIP
ACCOUNTANTS REPORT TO THE TRUSTEES OF EASTERSIDE PARTNERHIP
I report on the accounts of the charity for the year ended 31[st] August 2024 which are set out on pages 6 to 13.
Respective responsibilities of the Trustees and independent examiners
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of Examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Regulators. This examination includes a review of the accounting records kept by the Treasurer and a comparison of the accounts with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent Examiner’s statement
In connection with my examination, no matter has come to my attention:
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which gives us reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached
-
J. Shield
20 Feb 2025
Mrs J. E. Shield BA FCA Dated:
Leonard Bye Limited
Chartered Accountants
80 Borough Road Middlesbrough
TS1 2JN
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EASTERSIDE PARTNERSHIP
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31[ST] AUGUST 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Note | Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | ||
| INCOME | |||||
| Incoming resources from generated funds | Incoming resources from generated funds | ||||
| Voluntary income | 2 | 701 | 48,450 | 49,151 | 26,688 |
| Total incoming resources | 701 | 48,450 | 49,151 | 26,688 | |
| RESOURCES EXPENDED | 3 | ||||
| Cost of Generating funds | |||||
| Costs of generating voluntary income | - | - | - | - | |
| Charitable activities | |||||
| Project expenditure | - | - | - | - | |
| Governance costs | - | - | - | - | |
| Other resources expended | - | 7,061 | 7,061 | 2,107 | |
| Total expenditure | - | 7,061 | 7,061 | 2,107 | |
| Net income | 701 | 41,389 | 42,090 | 24,581 | |
| Transfers between funds | - | - | - | - | |
| Net movement in funds | 701 | 41,389 | 42,090 | 24,581 | |
| Fund balances brought forward | 5,001 | 71,789 | 76,790 | 52,209 | |
| Fund balances carried forward 8 | 5,702 | 113,178 | 118,880 | 76,790 |
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EASTERSIDE PARTNERSHIP
BALANCE SHEET
AS AT 31[ST] AUGUST 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Note | Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Tangible assets | 4 | 1 | - | 1 | 1 |
| Current assets | |||||
| Debtors | 5 | - | - | - | - |
| Cash at bank and in hand | 5,701 | 113,778 | 119,479 | 77,389 | |
| ����� | ����� | ����� | ����� | ||
| 5,702 | 113,778 | 119,480 | 77,390 | ||
| ����� | ����� | ����� | ����� | ||
| Creditors | |||||
| Amounts falling due within one year 6 | - | (600) | (600) | (600) | |
| ����� | ����� | ����� | ����� | ||
| Net Current assets | 5,702 | 113,178 | 118,880 | 76,790 | |
| ����� | ����� | ����� | ����� | ||
| Total assets less current liabilities | 5,702 | 113,178 | 118,880 | 76,790 | |
| ����� | ����� | ����� | ����� | ||
| Funds | |||||
| Unrestricted funds | 5,702 | 5,001 | |||
| Restricted funds | 113,178 | 71,789 | |||
| ����� | ����� | ||||
| Total funds | 8 | 118,880 | 76,790 | ||
| ����� | ����� |
For the year ending 31[st] August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the Committee:
Nigel Jackson
Date:
20 Feb 2025
Nigel Jackson (Chair)
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EASTERSIDE PARTNERSHIP
NOTES TO THE ACCOUNTS
1.ACCOUNTING POLICIES
(a) General information and basis of preparation
Easterside Partnership is a company limited by guarantee and registered in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are to promote public benefit of urban or rural regeneration in areas of social and economic deprivation and in particular Easterside Estate, Middlesbrough.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
(b) Funds
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds compromise 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 funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charges against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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EASTERSIDE PARTNERSHIP
NOTES TO THE ACCOUNTS
1. ACCOUNTING POLICIES
(c) Income recognition
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Investment income is earned through holding cash in a deposit account and is recognised when it is earned.
(d) Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. All direct costs relate to the charity’s charitable activities.
(e) Support costs allocation
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
The analysis of these costs is included in note 3.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
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EASTERSIDE PARTNERSHIP
NOTES TO THE ACCOUNTS
1. ACCOUNTING POLICIES
(f) Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Office Equipment
3 Years Straight Line
(g) Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
(h) Provisions
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
(i) Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
(j) Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
10
EASTERSIDE PARTNERSHIP
NOTES TO THE ACCOUNTS
2. INCOMING RESOURCES
| 2. INCOMING RESOURCES | ||
|---|---|---|
| 2024 | 2023 | |
| Voluntary income | £ | £ |
| Donations | 750 | - |
| Grants | - | - |
| Other | 701 | - |
| Tariff | 47,700 | 26,688 |
| ����� | ����� | |
| Total incoming resources | 49,151 | 26,688 |
| ����� | ����� | |
| 3.RESOURCES EXPENDED | 2024 | 2023 |
| £ | £ | |
| Other resources expended | ||
| Event costs | - | - |
| Re: Tariff | - | - |
| ����� | ����� | |
| - | - | |
| Support costs | ||
| Management | ||
| Wages | - | - |
| Information technology | ||
| Equipment | - | - |
| Other | ||
| Insurance | - | - |
| Repairs | 4,778 | 108 |
| Light and heat | 457 | 355 |
| Telephone | - | - |
| Postage and sundries | - | - |
| Sundries | 20 | - |
| Accountancy | 662 | 630 |
| Depreciation | - | - |
| Bank charges | 144 | 150 |
| Professional fees | - | 64 |
| Bursaries |
1,000 | 500 |
| Fines | - | 300 |
| ����� | ����� | |
| Total resources expended | 7,061 | 2,107 |
| ����� | ����� |
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EASTERSIDE PARTNERSHIP
| NOTES TO THE ACCOUNTS | ||
|---|---|---|
| 4. FIXED ASSETS | Office | |
| Equipment | ||
| £ | ||
| COST | ||
| At 1st September 2023 | 1,670 | |
| Additions | - | |
| At 31st August 2024 | 1,670 | |
| DEPRECIATION | ||
| At 1st September 2023 | 1,669 | |
| Charge for the year | - | |
| At 31st August 2024 | 1,669 | |
| NET BOOK VALUE | ||
| At 31st August 2024 | 1 | |
| At 31st August 2023 | 1 | |
| 5. DEBTORS | ||
| 2024 | 2023 | |
| £ | £ | |
| Trade debtors | - | - |
| Other debtors | - | - |
| Prepayments | - | - |
| - | - | |
| 6. CREDITORS AND ACCRUALS | 2024 | 2023 |
| £ | £ | |
| Trade creditors | - | - |
| Accruals | 600 | 600 |
| 600 | 600 |
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EASTERSIDE PARTNERSHIP
NOTES TO THE ACCOUNTS
7. TRUSTEE EXPENSES
No expenses were paid to Trustees in the year.
8. MOVEMENT IN FUNDS
| Opening | Incoming | Resources | Transfers | Closing | |
|---|---|---|---|---|---|
| balance | Resources | Expended | Balance | ||
| £ | £ | £ | £ | £ | |
| Unrestricted Funds | |||||
| General Funds | 5,001 | 701 | - | - | 5,702 |
| ______ | ______ | ______ | ______ | ______ | |
| 5,001 | 701 | - | - | 5,702 | |
| Restricted Funds | |||||
| Feed in Tariff | 71,789 | 48,450 | (7,061) | - | 113,178 |
| ______ | ______ | ______ | ______ | _____ | |
| Total Funds | 76,790 | 49,151 | (7,061) |
- | 118,880 |
| ���� | ���� | ���� | ���� | ���� |
9. EMPLOYEES
The average number of employees during the year was nil (2023: nil)
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