Charlty reglslratlon number 1090261 ompany reglstTation number 03055620 {England and Wales) EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees BHart J McLoughlin M McNichol P R Cooper {App(Jnted 24 April 20241 Chief Executlve Officer E Foxton Charity number 1090261 Company number 03055620 Reglstered offlce l Kilbum Drive Seaview Industrial Estate Horden County Durham United Kingdom SR8 4TQ Auditor Azets Audit ServicES nyard Park House Wynyard Avenue Wynyard United KiThJdom TS22 5TB
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Trustees, report Statemènt of trustees, responsibilities Independent audrtorfs report Statement ot financial activtties 8alance sheet 10 Statement ofcash flows 11 Notes to the finanoal statements 12-24
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JULY2024 The Trustees, who are also directors of the charity for the purposes of the Companies Ad. present Iheir annual report and the finanaal statements for the year ended 31 July 2024. The financial slalements have been prepared in aCCthar with the accounting policies set out in note 1 to the finanual statements and comply the charrtable company's tgoveming document], the Companies Act 2006 and "Accounting and Reporting by Charib"es'. Statement of Recommended Practi applicable to charities preparing their accounts in ac[dan wilh Ihe Financial Reporb'ng Standard applicable in the UK aryl Republic of Ireland IFRS 102)" {effethve 1 January 2019). Structure, govemance and management Governlng document The organisation is a charitable company limited by guarantee, incorporated on 11 May 1995 and registered as a charity on 25 January 2002. The company was established under a Memorandum of Assoaation which established the obje(Xs and powers of the chantable company and is govemed under its Articles of Association. The Articles were updated in 2014 to more accurately reflect the modern activty undertaken by the Charity. Under these revssed Articks the Board comprises four trustees and the geographic21 area of scope is extended. The objeth.ves of the Charity are to promote any charitable purpose for the benefit of the East Durham community and in particular for the advancement of education and the furtheran of health and the relief ol povety, illness, distress and sickness. The directors of the charitable cornpany are its trustees for the purpose of charity law, and throughout the report are collectively referred to as the trustees. RecTUitment and appointrnent of trustees Under the requirements of the company's Memorandum and Arttdes of Association one third of the trustees are required to retr're by rotation at each Annual General Meets"ng. New trustees are elected at the Annual General Meth'ng as other trustees stand down. Once elected truslees are given appropriate roles and have one vote each which will contributed to the decision making process. Trustee induction and tralnlng Trustees undergo an induction peri¢)1 vthich indudes sperific training relevant to finanryal regulations and other responsibilities and accounlabli itie5. Current trustees have attended a fomal training programme which wll be continually updated. Trustees are kept abreast of current developments by means of Charities Commission bulletins. Trustees and directors The followng people served during the peri(xl." K. Hawkridge-smith (company director) - resigned 24April 2024 M. McNichol (Deputy Chair. company director) J.T. McLoughlin {company director) B. Hart (Chair, company director) P.R. Cooper (company director)
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT IINCLUDING DIRECTORS. REPORT) (CONTINUED FOR THE YEAR ENDED 31 JULY2024 Organlsatlonal structure The organisational structure has contracted and now consists of a part ts.me Chief Executive Offir and a small team of staff with delegated Tesponsibility. eath of whom is in charge of a specific area of activity. The team meet iegulady and report back to the trustees who retain ulb'mate aulhority for making decisions. The financial manager oversees finanaal transactions in conjunction with the Chief Executive Officer. The board of trustees retains paid consultants who support and advise the board on an ongoing basis with regard to financial audit, Human resources and health and safety. The board can elect to ¢Lpt advisers as and when appropriate toinfom the deusion making process. Risk rnanagement The Trustees have reviewed the major risks to vthich the charity is exw)sed and systems have been estsblished to mitigate those risks. The Chanty has been re-accredited wTrth the Matrix Quality standard demonstrating the high level of importance placed on the provision of quality programmes by the trustees and the management of associated risks. Extemal risks to funding have resulted in a strategic plan which allov45 for the diversification of fijnding and activities. Intemal risks are minimised by the implementats'on of procedures for authorisation of all transactions and projects and to ensure consistent qualty of delivery for all operalional aspects of the charltable company. These procedures are periodically reviewed both internally ano externally lo ensure that they slill meet the needs of the charity. Finanaal controls are monitcffed regularly and further r)ew controls have been introduced since the end of the penod. Related parties Mr JT McLoughlin, Trustee. is an emsyoyee of the wmpany's bankers Lloyds. Transadions with related parties are disdosed in the notes to the financial statements. Objectives and activilles The objectives of the company are to promote within Ihe UK any charitable purpose and in particular the advanment of education and the furtherance of heallh and the relief of povety. distress and ssckness. The tDJStees have referred to the guidance contained in the Chanty Commission's general guidance on public benefit when reviewng the company's aims and objectives aThJ in plannirbg how the company's future activities will contribute to the airns and obJ"ectives they have set. Trustees airn to be deliberately flexible in their approach to planning and adopt a strategy of adaptab.on to change in order to be able to direct available staff and resources towards delivery of arxivilies and projects matthed to ever changing local needs. The East DuFharn Community comprises rnany super output areas where the need exists for action which addresses chronic poverty and hardship. Consequently during 23-24 the Chanty has priontised provision of essential household items and servi5 in collaboration with ststutory agen¢ies as a FKiority, supplemented by provision of a food bank for disadvantaged residents. Staff have significant experien in delivery of such projects and many live and work in disadvanlaged areas Ihemselves. Additionally in 2023-24 The Trustees have planned to provide a menu of aciivities locally typically those supporting people wth mental health issueslloneliness. is(4ation and dementia including not least the many elderly people resident in care homes in the area or living alone with the support of carS. The company has endeavoured to achieve rts aims for the public benefit by maximising its projects which support third and public sector agencies where the abilty to react quickly to new temporary ftjnding is only possible through collaboration. High volume collaboialive contraoa work delivered in pa1Cular wth CDCF (Point North} DCC and Greggs Hardship Fund has resulted in dual benefit to both disadvantaged residents and to the Charity ilself by sustsining employment for 10 staff who would otherwse be unemployed and also offering goods for sale to members of the public who are mostty on low incomes. The volume of activity in this area ol work increased substantially due to delivery of sub contracted work funded through local authority household support grants. The warehouse projects also offer work experience for the disadvarrtaged members of the COTnmunity. Trustees have regard to CCNI guidance on public benefft and regularly wew the Charity's aims and objeclives to reflect thi5.
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2024 The Trustees have referred lo the guidance contsined in the Charity Commission's general guidan on public benefit when reviewing the company's aims and obje(Aives and in planning the company's ftjture aclivities. The trustees consider how planned activitie5 wll contnbule to the ams and objedives they have seL Achievements and perfomiance The Company endeavours lo achieve its aims for the public benefft by maximising its projects which support thirdand public sector agencies to pyovide household go(xls for disadvantaged residents and undertaking local community projects (typically those supporting people yth mental health issuesiloneliness. isolation and dementia}. The warehouse faality provides employment k)r 10 staff who would otherwise be unemployed and also offers goods for sale lo members of the public who are rnosdy on low incomes. The warehouse projects offer work experience for the disadvantaged member5 of the )MmunIty. Projects are supporte(I by a number of volunteers. 202>24 was a year of fvrther change followng Ihe cost of living ieaseS brought about by the Ukraine issue and supply shortages after Covid. A conb'nuation grant from the Sir James Knott Foundation alonde support trom bot17 County Durham Foundation helped to fijnd running costs and retain staff. sUsSion planning an(J up skilling of senior members of staff in preparation for the planned retirement of the current CEO has been ongoing. Flnanclal review Results Incoming resources increased by 37.9% from £755.055 in 2023 to £1,041,199 in 2024. This is a temporary increase due to an increase in grants received and income will retum to 2023 lelvels in the future. Overall funds increased by £151.030 in the year Ifom £712:694 to £863.724 compared wth a decrease in funds of £38.174 in the preouS year frcKn £750.e*8 to £712.694. Included wthin this are restricted fijnds tolalling £475.976 {2023. £461,451)- The charity retair)ed key siaff during the year. The maintenance of its fijrniture staff presen at it5 propety in Horden, Peterlee is considered fvndamentsl to the operations of the Charity and its public image. The level of unrestricted reserves of £387,748 and the level of cash held at bank of £268,700 at 31 July 2024 are deemed to be sufficient to allow the charity to corrtinue to 0rate for a period of at least the next 12 months trom the date of signing this report Prlncipal funding sources The main source of income derives from fumiture contracts and the sde of fumiture and white go¢JJs, wlh the addition of HSF grants anrj donations. Investment policy The trustees consider that any eXs5 cash funds shId be rlaced on bank deposit. Thi5 poliry wll be Eviewed by the management committee should ex$$ funds become snIficant. amount of £53,843 was held in an interest-bearing account with Lloyds at the balance sheet date.
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED FOR THE YEAR ENDED 31 JUL Y 2024 The Trustees has assessed the major risks to vlhich the charitable company is exposed, and are satisfied that systems are in place to mitigate exposure to the maj(K risks. Reserves pollcy The Irustees have estsblished a wlicy whereby unrestricted reserves are mainlained at a level sufficient to meet management and administrakn.on costs for the foreseeable future. The stn.ct control of unreslricted c3sh flows and income from the delivery of charitable projects has enabled the tharitable <x)mpany to achieve this aim at the balan sheet date. However, in view of nrtaIntIeS fracing the charitable sector in the current eojnomic climate. the reported level of reserves may not be rnaintained in fLrture periods. The Irustees have decided that the organisation must aim to retain sufficient reserves to fulfil rts financial c£Jmmitmenls should ncome generated from the company's core actmb'es cease. The commitments would include six months operational and salaries cosls for existing members of staff. At the balan sheet date, this equates to approx. £200,000 which is more than covered by cash al bank_ The level of reserves are monitored on a weekly basis by the financial manager in an attempt to maintain the dered level of reserves. Plans for future periods The trustees have agreed to nts"nue wilh current inib"akn"ves such as supporting individuals to access DCC and Greggs Hardship grants and low cost loan support from NEFCU. Loc21 disadvantaged resident5 will conb'nue to be offered work placements and free advi a1 guidance. Given the cornpany s long standing presen and reputation for reliability, the Trustees consider that rt is essenb.al that the facilty is kept open and fully stocked as far as is possible. though the financial future is uncertain at this poin( we are confident we have suffiaent resources and plans in Pla induding addilional contracted work resu5b.ng from both exisb.ng and new collabjrations. Short temi planning involves continuation of current prqects alongside ongoing modemi5ation of the premises to meet changing demands (to indude leasing of speL?fic unused areas in order to increase income), the purchase of a new vehicle (for transporting increased volumes of essents.al furniture and applianS) which will replace an existing older van. The fiJture direction of the Charity is to contt.nue 5tiengthening EDPS establishment in terms of staff and TTUStees by becorning more self- reliant whilst simultaneously maximising benefft resutting from co]laborats"ve projects. Auditor In accordance wth the company's arb"des. a resolution proposing that Azels Audit ServIs be reappointed as auditor of the company will pui at a General Meets-ng. The trustees, pOrt Was approved ty the Board of Trustees. Hart Truslee Dated.
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 JULY2024 The Trustees, who are also the directors of East Durtrn Partnership Limrted for the purpose of company law, are responsible for preparing the Trustees. Report and the finanaal statements in accordance with applicable law and United Kingdom Accounling Stsndards (United lfjngJom Generally Ac£epted Accounting Practice). Company Law requires the Trustees to prepare finanaal statements each financial year which gwe a true and fair view of the state of affairs of the charttable company and of the incoming resources and appIltiOn ol resources, including the income and expenditure. of the charitable MpanY for that year. In prepanng these financial ststements. the Trustees are required to.. - select suitable accounting poliaes and then appty them consistendy., - observe the methods aj principles in the Charities SORP: - make judgements and estimates that are reasonable and prLKknt and prepare the financial statements on the going 0)nn S15 unless it inappropnate to presurne that the charitable company will rffitinue in operats"on. The Trustees are responsible for keeping adequate a(LountiThJ records that disclose with reasonable accuracy at any time the financial position of the charitable CLxnpany and enable them to ensure that the financial slatements comply with the Companies Act 20tE. They are also respon&ble for safeguarding the assets of the charitable company and hence for tsking reasonable steps for the kyevention detection of fraud and other irregularities.
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EAST DURHAM PARTNERSHIP LIMITED Opinion We have audited the financial statements of Durham Partnership Limrted {the 'charitsble company,) for the year ended 31 July 2024 whith compTise the statement of financial actsvrties, the balan sheet, the statement of cash flows and notes to the finanaal statements, induding significant accounting policies. The financial reporting framework Ihat has been applied in their preparation is appltcable law and United Kingdom Accounting Standards, including Financial ReF)Orting Standard 102 The Financial Repothng Standard applicable in the UK and Republic ol Iland (United lQngdom Generally Accepted Accountiry Praoltce). In our opinion, the finanaal statements". give a true and fair view of the state Df the charitable (x)mpany's affairs as at 31 Juty 2024 and of its incoming resources and application of resources. for the year then ended". have been properly prepared in accordancE with United Kingdom Generally Awited Accounttng Practi., and have been prepared in accordance wth the requirements of the Companies Act 20(. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS {UK}} and applicabla law. Our responsibilities under those stsndards are further debed in the Auditors respon&"bilities for the audit ol Ihe financial statements seth'on of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financaal statements in the UK, including the FRC'S Ethical Standard, and we have fulfflled our other ethical responsibilities in accordancÉ wth these requirements. We believe that the audit ewdence we have obtained is suffiaent and appropriate to provide a basis for our opinion. Conclusions relating to going concem In auditing the financial statements. we have conduded th the truslees, use of the going Conce basis ol accounting in the preparation of the financial ststements is appropriate. Based on the work we have performed. we have not identified any material UnrtaInlieS relating to events or conditions that, individually or collectively, may cast significant djbI on the charitable company's ability to continue as a going conrn for a period of at least hvelve months from when the financial statements are authorised for Issue. Our responsibilities and the responsibilits'es of the Trustees with respetx to going cOnM are described in the relevant sections of this reporL other infomiation The other infomiation comprises the Infomiab"c included in the annual report other than the finaKial statements and our auditorfs report thereon. The Trustees are responsible for Ihe other infomiation contained within the annual report. Our opinion on the financial ststements does not cover the other infomialion and we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other information and. in doing so, consider whether Ihe other infoTh"on is materially inconsistent with the financial statements or our knowtedge obtained in the course of the audit, or olheMse appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to detemiine whether Ihis gives nse to a materk31 misstatement in the financial statements themselves. If, based on the work we have performed, we condude that there is a material misstatement of this other infonnab"on. we are r4Lured to report that fact We have nothing to report in this regard. Matters on which we are requlred to report by excepllon We have nothing to report in respect of the follthwng matters in rdakn'on to which the Charities {Accounts and Reports} Regulations 2008 require us to report to you if, in our opinion." the information given in the financ4al statements is inconsistenl in any material respect with the trustees, report., or sufficient acu)unting records have not been kept or the financial staterllents ate nDt in agreement wth the aco)unting records.. or we have not received all the information and explanab.ons we quire tor our audit.
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EAST DURHAM PARTNERSHIP LIMITED Re$ponsibilitie3 of Trustees As explained more fully in the statement of trustees. responsibilibes. the Trustees. vtho are also the directors of the aritable company for the purpose of cornpany law, are reSponsie for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the Trustees delermine is necessary to enable the preparation of financial st*ements that are free from matenal misstatement. whether due to fraud or error_ In preparing the finanual statements. the Trustees are responsible for assessing the charitable company's ability to rnnb.nue as a going concem. disclosing. as applicable. matters related to going concern and Using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operats"ons. or have no realistic altemative but to do so. Audltorfs responsibililies for the audit of the financlal statements We have been appointed as audrtor under section 144 of the Chanties Act 2011 and report in accordance wth the Act and relevant regulatr'ons made or having effecl thereunder. Our objectives are to obtsin reasonable assuran about vthether the financial ststements as a whole are tree from material misstatemenl, whether duè to fraud or eOr. and to issue an auditorfs report that indudes our opinion. Reasonable assurance is a high level of assuran but is not a guarantee that an audit conducted in accordan th ISAS (UK) will always detecl a material rnisslatement when it exists. Misstatements Gan arise from traud or error and are conSided material if, individually or in the aggregate, they could reasonabty be expected to intluence the economic decisions of users taken on the basis of these finanaal statements. A fijrther descriptson of our resF()n5ibilib'es is available on the Financial Reporting Counal's website at.. https'.11 www.frc.org.uklauditorsresponsitM'liti'es. This descnption fomis part of Ouf audito¢s repo Extent to which the audit was considered capable of detecting Frregularitles, Includlng fraud Irregularities, including fraud. are instances of non-complian with laws and regutations. Vve design procedures in line with our responsibilities, outlined above and on the Financial Report¢ng Council's website, to detect material misstatements in respect of iffegularities, induding fraud. We obtain and update our understanding of the entity, its activities, its control envIrcrnent, and likely future developments. induding in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error. deSn and perfomi audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts ty the entity that were contrary to appIlble laws and regulations, including fraud. In response to the risk of Irregular.e$ and non-complian with laws and regulations. including fraud, we designed procedures which induded". Enquiry of management and those charged with governance around &tual and POtenb"al litigation and daims as well as actual, suspected and allege(l traud.. Reviewing minutes of meetings of those charged with g0veMan.. Assessin9 the extent of compliance wth the laws and regulabons considered to have a direct material effect on the finanaal statements or Ihe (perations of the entity Ihrough enquiry and inspection.. Reviewing finanoal statement disdosures and tssting to supporting documentation to assess compliance with applicable laws and regulations- Perforrning audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustrnents for appropnateness, evaluab.ng business rationale of significant transactions outside the normal course of l)usiness and rewiewng wiunb.ng ests"rnates for indicators of potential bias. Because of the inherent limitab'ons of an audit. there is a risk that we will not detect all irregularities, induding those leading to a material misstatement in the finanaal statemeTrts or notFcnmplIan wth regulation. This risk increases the more that compliance w7th a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be les5 likety to be(rJme aware ol instances ol norpc0mp1ian. The risk ol not detecting a material misstatement resulting from fraud is hher than for one resulting from error, as fraud may involve collusion. forgery. intentr.onal omissions. misrepresentations. or the override of internal conlrol.
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EAST DURHAM PARTNERSHIP LIMITED Other mattern - comparative figures and opening balances The comparative figures and disdosures induded wthin these financial statements are unaudited as the company was entitled to audit expemtion in the prior FEriod. We have performed appropriate procedures and obtained suffiaent audit evidence to satisfy oursleves that the opening balances do not conlain misstalemenls that materially effect the current period's finanual ststements.. Use of our report This report is made solely to the tharity's trustees. as a boty. in aCran with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees thosè matters we are required to state to them in an a31t0S rewrt and for no other purpose. To the fijllest extent pemitted by law, we do not 8pt or assume responsibility to anyone other than the charity and the charily's truslees as a body, for our audit work. for this report. or for the opinions we have f0Md. /kÉ* A/J"l frILi- Graham Fitzgerald BA FCA DChA Isenior Slatutory Auditor) for and on behalf of Azets Audit Services Chartered Accountants Statutory Audttor nyard Park House nyard Avenue nyard United Kingdorn TS22 5TB Azets Audit Services is eligible for appointment as auditor of the charitable company by virtue of its eligibility for appointrnent as auditor of a company under section 1212 of the Companies Ad 20[.
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Noles Donatsons and grants Charitable activities Investments other income 360.121 360.121 678,734 2.264 49,750 49.750 696,720 73Q 7.855 678,734 6%.720 730 7.855 Total income 680,998 360.121 1.041.119 705.305 49,750 755,055 en Charitable activities 540,7 345.587 886,383 734.908 58,321 793.229 Other 11 3,697 3,71 Totsl expenditure 544.493 345.596 89).089 734,908 58,321 793,229 Net incomellexpenditure) for the yearl Net movement in funds 136.505 14.525 151.030 129.603) (8.571) 138,174) Fund balances at 1 August 2023 251,243 461,451 712,694 280.846 470.022 750,868 Fund balances at 31 July 2024 387,748 475.976 863,724 251.243 461,451 712,694 The statement of finanoal ath'bryties indudes all gains and losses recognised in the year. All income and expenditure derive from conts'nuing artj.V.es. The ststement of financial ath"vities also complies with the requirements for an income and expenditure account under the Cornpanies Act 2C(6.
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET ASAT31 JULY2024 2024 2023 Notes Fixed assets Tangible assets 13 498.640 499,986 Current assets Stocks Debtors Gash at bank and in hand 14 15 54.184 76.760 268.700 42.294 34,510 158,034 399,PA4 234,838 Creditors: amounts falllng due within one year 16 {34.560) (22,1301 Net current assets 365.084 212,708 Totsl assets less current liabilities 863.724 712,694 Income funds RestNcted funds Unrestricted funds 17 475,976 387.748 461,451 251,243 863,724 712.694 The company is entided to the exemption from the audit rewirement contained in section 477 of the Companies Act 2006, for the year ended 31 Juty 2024, although an a11 has been Caled out under section 144 of the Chariles Act2011. The Trustees acknowledge their reswnsibilrties for complying the requirements of the Companies Act 2006 th respect to accountsng records and the preparation of final statements. These financial statements have been prepared in accordan the prowsions applicable to MpanieS subject to the small companies regime. The nancial statem nts were approved by the Trustees on .-.. BHart Trustee Company registration number 0305S620 10-
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY2024 2024 2023 Noles Cash flows from operating actlvllies Cash generated froml{absorbed by) operations 134.792 {8,656) Investlng activities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Investment income re1ve I27.71) {9101 1.400 2.264 14,005 730 Net Cash {used In}Igeneratsd fr(xn investing actlvitles {24.126) 13,825 Net cash used in financing activltles Net Increase in cash and cash equfvalents 110,666 5,169 Cash and cash equivalents at beginning ofyear 158,034 152,865 Cash and cash equivalents at end of year 268.700 158,034 11
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY2024 Accounting pollcles Charity information East Durham Partnership Limited is a private CL)mpany limited by guarantee incorporated in England and Wales. The registered Offi is 1 Kilbum Drive. Seaview Industrial Estate. Horden. County Durham. SR8 4TQ, United Kingdom. 1.1 Accountlng convention The financial statement5 have been prepared in accordan wryth the charitable company's goveming document. the Companies Act 20(E and "AccA)unts"ng and Repo"ng by Charities.. Statement of Recommended practi applicable to charities preparing their accounts in accordan wilh the Financial Reportsng Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20191" The charitable company is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the functional currency of the charitable company. Monetary amounts in these finanaal statements are rounded to the nearesl £. The financial statements have been prepared under the Iwstorical Lxjst (XventIon. The prinopal accounting policies adopted are set out below. The prior year financial statements were not subject to audit as they did not excÉed the audit threshold. 1.2 Golng concem Al the time of approving the finanual ststements. the Trustees have a reasonable expectation that the charitsble company has adequate resour to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concem basis of ac£ounting in preparing the financial statements. The Covid 19 pandemic has had an impad M every business. due to the nature of the charitsble company the effecls have so far been lifflited. 1.3 Charitsble funds Unrestricied fvnds are available for use at the discretion of the Trustees in ftjrtherance of their charitsble objeth"ves. Restricted funds are subject to specific condrtion5 by donors as to how they may be used. The purwses and uses of the restricted funds are set out in the notes to Ihe financ4al statements. Endowment funds are subj'ect to specific condits.ons by don$ that the capital must be maintained by the charitable company. 1.4 Income Income is recognised when the tharilable company is legalty entitled to it after any performan conditions have been met, the amounts can be measured reltably, and it is probable that income will be reived. Cash donations are recognised on receipt. other donations are recognised On the charitable company has been notified of the donation, unless performan(E (x)nditIS require deferral of the amount. Income tax recoverable in relation to donats.ons reiVed under Gift . or deeds of covenant is recognised at Ihe time of the donation. Legacies are recognised on reIpt or otherwise if the chafrtable company has been notified of an Hnpending distribution. the amount is kr, and reIpt is expecby. If the amount is not known, the legacy is treated as a Gonbngent asseL 12-
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Accounting poli¢ies Icontlnued) Grants. induding PrtaI grants. are recognised when the charitable company becomes unconditionally entitled to the grant Income from sales ol stock is recognised at the date of sale. Donaled goods for resale are recognised in the period in which they are sold_ A stock of donated gdS for resale is also held, but not recognised on the balance sheet, on the t)asis that ValUatn of the donated goods is not possible at the b.me of receipt. 1.5 Expendlture Expenditure is recognised once there is a legal or construth.ve obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic tEnefits WI be required In settiement, and the amount of the obligation can be measured reliably. Expenditure is classified by actiwty. The $ts of each activity are made up of the total of dI[t costs and shared costs, including support costs invofved in undertaking each activity. Direct costs attr1but8te to a single activity are allocatÉd directly to that activity. Shared costs which contnbule to more than one activity and support costs which are not attributable to 8 single aclivty are apportioned beeen those activities on a basis consistent with the use of reSoUrs. Central staff costs are allocated on the basis of titT7e spent. and depreoation charges are albxated on the portion of the asset's use. Expenditure is recognised on an wua15 basis as a liats.lity is incurred. Costs of generating fvnds rnSe the costs associated with the provision of management and educational ServIS and operation of the fvmiture, recycling and other adivities. Charitable expenditure MpriSeS those costs incurred ty the charlty in the delivery of ils activities and services for its benefi(iaries. It includes t#)th costs that can te allocated directly lo such activrties and those costs of an indirect nature nSSary to suptM)rt them. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequentty measured at cost or valuation. net of depreciation and any impairment losses. Depreciation is recognised so as to Vlte off the cost or valuation of assets less their residual values over their useful lives on the follovAng bases.. Freehold land and buildings Fixtures and fittings Computers Motor vehicles 2% per annum straight line14°h improvements) 25% per annum reducing balance 40% per annum reducing balanc£ 25% per annum reducing balan The gain or loss arising on the disposal of an asset is detennined as the differen between the sale proceeds and the carying value of the asset. and is recTr3nised in the staternent of finanual a1VitieS. 1.7 Impairment of fixed assets At each reporting end date, the charitable comparry reviews the carrying amounts of its langible assets to determirse whether there is any indication that those assets have suffered an impairment 1055. If any su indication exists. the recoverable amount of the asset is estimaled in order to determine the extent of the impairment loss {if any). 13-
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Accounfjng poli¢ies {Contlnued) 1.8 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and. where appliGqble. direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal considerab.on are measured the lower of rep1arnent cost and cost. Net realisable value is the estimated selling pri less all esb"mated costs of completion and c051s to be incurred in marketing. selling and distribution. 1.9 Cash and cash equivalents Cash and cash equivalents indude cash in hand. deposits heid at call with banks. other short-term liquid investments wlh original maturilies of three months (Y less. and bank overdrafts. Bank overdrafts are shown within borrowings In current Ila.1111es. 1.10 Financial instruments The charitable company has elected to appty the wovisions of Section 11 'Basic Financial Inslruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of rts financial instruments_ Financial instruments are recogni5ed in the charitable company's balan sheet when the charitable company becomes party to the contractua5 provisions of the instrument. Financial assets and liabilities are offset. wth Ihe net amounts presented in the financial statements, when there is a legally enforceable right to set off the recogni5ed amounts and there is an intention to settle on a net basis or to rease the asset and setue the liability simullaneousty. Basic financial assets Basic finanaal assets. which indude debtors and cash and bank balances, are inib'ally measured at transaction price including transaGtion costs and are subsequenuy carried at amortised o)sl using the effective interest method unless the arrangement constitutes a finanang transaction, where the transaction is measured at the present value of the future reIPts discL)unted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Baslc financial liabilities Basic finanaal liabilities. induding creditors and bank loans are initialty recognised at transaction Pri unless the arrangement constitutes a finarKing transaction. where the debt instrument is measured at Ihe presenl value of the future payments discounted at a rnatket rate of interest. Financial liabilitie5 dassified as payable thin one year are not amortised_ Debt instruments are subsequently carried at OrtiSed cost using the effecuve interest rate method. Tfade creditors are obligations to pay for good5 or servtces that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassthed as current liabililies if payment is due within one year or less. If not, they are presented a5 non-current liabilities. Trade creditors are recognised initially at transaction price and subsequenuy measured at amorb.sed cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derectjgnised when the charitsNe company's contractual obligations expire or are discharged or cancelled. 14-
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 JULY2024 Accounting policies {Conlinuedl 1.11 Employee benefits The cost of any unused holiday enttuement is reojgnised in the period in which the employee's services are received. Terminalion benefits are recognised immediately as an expense when the charitable company is demonstrably committed to temiinate the employment ol an employee or to provide termination benefits. 1.12 Retirement bener Payments to defined cOntributs" retirement benefft stsme5 are charged as an expense as they fall due. Crltlcal accounting estimates and judgements In the applicats'on of the charitable company's a¢untIng policies, the Trustees are required to make judgements, estimates and assumplions aboui the carrying amount ot assets and liabil1.es that are not readily apparenl from other soUrs. The estimates and associated assumpti'ons are based on historic81 experience and other factor5 that are considered to be relevant. Actual results may differ from these estimates. The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting estirnates are recognised in the perii)d in which the estimate is ViSed where the revision affects only that period. or in the period of the revision and fulure periods where the reVIOn affects both current and future periods. Critical judgements Life of assets The director5 of the company estimate the useful hfe of any asset5 bouglrt ty the company. This is carried out on a case by case basis. Donations and grants Restricted Restricted funds funds 2024 2023 County Durham Community Foundation {CDCF) Povety Grant Cree Sir James Knott Hadiian Char*ti"es Trust Warm Space National Lottery 264,159 10,000 3.000 15.000 15,000 13,250 3.000 15.000 1.000 500 2.000 67,962 360,121 49,750 15-
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Charitsble activlties Furniture 2024 Furniture 2023 Unrestricted Funds Fumrture and White Goods Sales Rental Income and room hire Cafe Sales Sales of fabrics etc 669,660 8,333 741 879,164 14,578 2,631 347 678,734 696.720 Principal funding sources Category Furniture 2024 Fumiture 2023 Sales to individuals Fumiture and sales of fabrics Fumiture Fumiture Fumiture Fumiture Furniture Fumiture Furniture Fumiture Fumiture Fumiture Fumiture Fumiture Fumiture Fumiture Fumitu Fumilure Fumiture Fumitu 30.567 245.426 56.478 287.817 Greggs voucher scheme Enterprise Durham Partnership Limited Durham County Council Hartlepool Borough Council Holistic Temporary Accommodatson and Support Service Cilizens Advice Bureau Sanctum Housing Believe Housin9 Hand ABI AddIli0s NE BSLF Easl Durham Trust Gentoo Groundwork Olive + Norman Field Stronger Families YMCA 27.990 117.628 160,741 106.221 10.985 13,232 22,688 7.032 1.250 2,851 80,705 8.794 24,319 62.879 33,694 755 10,038 5,825 7,289 2,616 669,659 9,074 658,162 38.558 Other 678,734 696,720 16-
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2024 Investments unstrICted Unrestricted funds funds 2024 2023 Interest re1vable 2,264 730 Other Income Total Unrestricted funds 2024 2023 Net gain on disposal of tangible fixed assets 7,855 7,855 17-
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EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Auditorfs remuneralion Fees payable to the charitsble company's auditor and assoclates: 2024 2023 Audit of the chantsble mY'S annual accounts 10,845 Trustees None of the Trustees (or any persons cDnneded wilh them) received any remunerab'on, benefits or expenses refunded from the charitable company during the year. 10 Employees The average monthty number of emFloyees during the year was" 2024 Number 2023 Number Project work and activits-es for generating fvnds Administration and support Total 10 11 Employment costs 2024 2023 Wages and salaries Soaal security costs other pension costs 191.478 9,522 12,717 177.197 7.593 14,828 213,717 199,618 There were no employ&s whose annual remuneration was more than £60.IXJO. 11 (Xher Unrestrlcted Restrlcted funds funds Total Total 2024 2024 2024 2023 Net loss on disp05al of tsngible fixed assets 3.697 3.706 3.697 3.706 -20-
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 12 Taxation The charity is exempt from tax on in(x)me and gains falling wlhin sedton 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 19w2 to the extent that these are applied to tts charitable objects. 13 Tangible flxed assets FfftlKd land Fixturns and and buildings ffttin95 Computers Motor veh1¢5 Total Cost At 1 August 2023 Additions Disposals 738.251 46.288 21.908 34,765 27,790 110.995) 841,212 27.790 122,914) 13.&30) (8.5891 At 31 July 2024 738.251 42.958 13.319 51,560 846,088 Depreciation and irnpaimient At 1 August 2023 Depreciation charged in the year Eliminated in respect of disposals 254.396 16.031 44,398 253 (2,452) 21.617 87 (8,516) 20,814 7,660 {6,840) 341,225 24,031 {17.8081 At 31 July 2024 270.427 42,199 13.188 21,634 347,448 Carrylng amount At 31 July 2024 467.824 759 131 29.926 498,640 At 31 July 2023 483.855 1.888 291 13,952 499.986 14 Stocks 2024 2023 Finished goods and g(K)ds for resale 54.184 42,294 15 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Olher debtors Prepayments and accrued income 56,353 19,272 1,135 33,877 633 76.760 34.510 21
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 16 Creditors: amounts falling due within one year 2024 2023 Other laxalion and social Security Trade creditors Other creditors Accruals and defeed income 9.954 10.611 35 13.960 14.550 118 916 6,546 34.560 22,130 17 Restricted funds The income funds of the chanty include restricted funds mprising the following unexpended balan$ of donations aTrJ grants held on tnjst for specific purposes". Movement in funds Balance at Incomlng t August 2022 resource5 Movement in funds Resources Balancè at Incoming Resources 8alance at e%pended 1 August 2023 resour5 •xpèndèd 31 July 2024 Building and recycling inittative Durham County Council - CREE project County Durham Comrnunity Foundation Poverty Hurts Sir James Knott Trust Hadrian Trust Wam Spaces Charities Trust CREE Plus 2 National Lottery Community Fund 467.522 (13.821) 453.701 {13,087) 440,614 13.000) 3.(XJD (4.5DOJ 15,000 13,250 (12.500) (13.250) 274.159 1241.297) 35,362 3.750 15,000 1,000 2,000 {11,250) (1.000) (2,000) 3.750 15,000 118,750) 500 (500) {1,000) 67,962 (67,962) 470,022 49,750 {58.321) 461.451 360,121 1345.598) 475,976 Unrestricted nds 280,846 705,305 {734.9)8) 251.243 680.998 1544.493) 387,748 Total funds 750,868 755.055 (793.229) 712.694 1.041,119 (890.039} 863.724
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 JULY 2024 17 Restricted funds Icontinued) Building and Reuse Inlllatlve Pfovision of staff and resources with which to oper*e all new and used fijmiture and applian projects either diredty. or in support of other funders {under cotrtract). CREE Project Grant for contribution to activities SUPFQrting mental IaIth. County Durham Communlty Foundation {CDCF) Grant towards specified running $1$ of cafe and used hjmrture projed& Poverty Hurts Grant contribution towards speafied ovetheads vthich enable ath"vities which address local povety inc. food povety. Sir James Knott Grant towards operational costs of projeds for elderly and isolated (inc, WEd events for the lonely) and the used fumiture project. Wami Spaces ContribLrtion to specific stsff and heating costs in the cafe to offer a warm Spa for local residents who cannot afford to use heating in their home due to low Income. Charities Trust Grant EDP was nominated by our insurers (Park) for £500 ant towards speard overheads. Cree Plus 1+2 Top ups for the mental heath projects mentioned in Cree above. Natlonal Lottery Community Fund Grant to allow the charty to continue lo provide irs existing services by assiting wilh the increased njnning costs due to the ongoing cost of living crisi& -23-
EAST DURHAM PARTNERSHIP LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 18 Analysis of net assets between funds Unrestricted Restrlcted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Fund balances at 31 July 2024 are represented by.. Tangible assets Current assetsllliabilib'esl 440.614 35.362 498.640 365.084 46.285 204.958 453,701 7,750 499,986 212,708 329.722 387.748 475,976 863.724 251.243 461,451 712,694 19 Related party transactions Remuneration of key management pernonnel The remuneration of key management personnel is as folk)ws. 2024 2023 Aggregate 1mpenSatIon 22,668 23.922 During the finanical year a totsl of £5.600 was r1Ved from EDDT with regards to hire of a room on site. EDDT is related by way of a Trustee carying out the training courses provided. These transath.ons are carried out on a arms length basis. 20 Cash generaled from operatlons 2024 2023 Surpluslldefiatl for the year 151,030 138,1741 Adjustments for". Investment income recognised in statement of finanaal activities Lossllgainl on disposal of tangible fixed assets Depreciation and impaineI oftangible fixed assets {2,2641 3,706 24,030 17301 ri,8551 22.804 Movements in working cAprtal'. Ilncreasel in stocks Ilncreaselldecrease in debtors Increase in creditors {11,8901 142,2501 12,430 15551 12,582 3,272 Cash generated fromllabsorbed by) operations 134,792 18,6561 -24-