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2024-03-31-accounts

Charity registration number 1095275

Company registration number 04366182 (England and Wales)

NORTHSIDE COMMUNITY CENTRE LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2024

NORTHSIDE COMMUNITY CENTRE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs B Dixon
Mr G Dixon
Mr R Torney
Charity number 1095275
Company number 04366182
Principal address Trinity Drive
Northside
Workington
Cumbria
CA14 1AX
Registered office Trinity Drive
Northside
Workington
Cumbria
CA14 1AX
Independent examiner Armstrong Watson LLP
Carleton House
136 Gray Street
Workington
Cumbria
CA14 2LU

NORTHSIDE COMMUNITY CENTRE LIMITED

CONTENTS

Page
Trustees' report 1
Independent examiner's report 2
Statement of financial activities 3
Balance sheet 4
Notes to the financial statements 5 - 13

NORTHSIDE COMMUNITY CENTRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 MARCH 2024

The trustees present their annual report and financial statements for the year ended 30 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Companies Act 2006 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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charity's objective is to promote the benefit of the inhabitants of the Northside Ward of Workington without distinction of sex, sexual orientation, race or of political, religious or other opinions, by associating together the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interest of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Activities

Activities include bingo, community activities, weekly lunch service, children's activities, printing, copying and ICT access and support for local residents. The charity provides valuable signposting for local residents, venue and room hire as a source of income, as well as coordinating trips and local celebration events for the estate. There is also a community shop and a Credit Union collection point.

Financial review

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Structure, governance and management

The charity is a company limited by guarantee.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mrs B Dixon Mr G Dixon Mr R Torney

The trustees' report was approved by the Board of Trustees.

Gary Dixon (Dec 23, 2024 10:28 GMT) Mr G Dixon Trustee

20 December 2024

NORTHSIDE COMMUNITY CENTRE LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF NORTHSIDE COMMUNITY CENTRE LIMITED

I report to the trustees on my examination of the financial statements of Northside Community Centre Limited (the charity) for the year ended 30 March 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Steven Kirkbride

Steven Kirkbride (Dec 20, 2024 16:21 GMT)

Steven Kirkbride BFP ACA ATT MAAT Armstrong Watson LLP Carleton House 136 Gray Street Workington Cumbria CA14 2LU

Dated: 20 December 2024

NORTHSIDE COMMUNITY CENTRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income and endowments from:
Donations and legacies
2
1,200
6,924
Other trading activities
3
32,882
-
Investments
4
-
-
Other income
5
191
-
Total income
34,273
6,924
Expenditure on:
Charitable activities
6
35,519
4,293
Total expenditure
35,519
4,293
Net income/(expenditure)
(1,246)
2,631
Transfers between
funds
1,331
(1,331)
Net movement in
funds
7
85
1,300
Reconciliation of funds:
Fund balances at 31 March
2023
2,846
1,331
Fund balances at 30 March
2024
2,931
2,631
Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
8,124
4,505
40
32,882
21,022
-
-
7
-
191
202
-
41,197
25,736
40
39,812
30,877
40
39,812
30,877
40
1,385
(5,141)
-
-
-
-
1,385
(5,141)
-
4,177
7,987
1,331
5,562
2,846
1,331
Total
2023
£
4,545
21,022
7
202
25,776
30,917
30,917
(5,141)
-
(5,141)
9,318
4,177

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

NORTHSIDE COMMUNITY CENTRE LIMITED

BALANCE SHEET

AS AT 30 MARCH 2024

2024
Notes
£
Fixed assets
Tangible assets
11
Current assets
Stocks
12
667
Debtors
13
58
Cash at bank and in hand
15,345
16,070
Creditors: amounts falling due within
one year
14
(12,494)
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
15
Unrestricted funds
16
£
1,986
3,576
5,562
2,631
2,931
5,562
2023
£
641
1,681
4,604
6,926
(5,086)
£
2,337
1,840
4,177
1,331
2,846
4,177

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 20 December 2024

Gary Dixon (Dec 23, 2024 10:28 GMT) Mr G Dixon Trustee

Company registration number 04366182 (England and Wales)

NORTHSIDE COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2024

1 Accounting policies

Charity information

Northside Community Centre Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Trinity Drive, Northside, Workington, Cumbria, CA14 1AX.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

NORTHSIDE COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment

15% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

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 applicable, 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 consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

NORTHSIDE COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024

1 Accounting policies

(Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
1,200
-
Grants
-
6,924
1,200
6,924
Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
1,200
4,505
-
6,924
-
40
8,124
4,505
40
Total
2023
£
4,505
40
4,545

NORTHSIDE COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024

2 Income from donations and legacies (Continued)
3 Income from other trading activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Community shop income 10,619 10,251
Room hire 18,805 9,540
Solar panels 3,458 1,231
Other trading activities 32,882 21,022
4 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable - 7
5 Other income
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other income 191 202

NORTHSIDE COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 MARCH 2024

6 Expenditure on charitable activities

Charitable
expenditure
unrestricted
Charitable
expenditure
restricted
Total
Charitable
expenditure
unrestricted
Charitable
expenditure
restricted
2024
2024
2024
2023
2023
£
£
£
£
£
Direct costs
Staff costs
10,018
1,119
11,137
8,209
-
Depreciation and
impairment
351
-
351
412
-
Rates and water
532
-
532
1,227
-
Insurance
1,249
-
1,249
1,632
-
Heat and light
7,781
-
7,781
3,187
-
Telephone
1,096
-
1,096
884
-
Repairs
358
-
358
26
-
General expenses
3,892
-
3,892
2,022
40
Community shop
purchases
7,652
-
7,652
8,813
-
Licenses and
subscriptions
1,371
-
1,371
1,184
-
Activity costs
128
-
128
5
-
Lift service contract
(1,248)
-
(1,248)
648
-
Feed and read purchases
857
-
857
1,354
-
Accountancy fees
1,482
-
1,482
1,274
-
FareShare purchases
-
3,174
3,174
-
-
35,519
4,293
39,812
30,877
40
Analysis by fund
Unrestricted funds
35,519
-
35,519
30,877
-
Restricted funds
-
4,293
4,293
-
40
35,519
4,293
39,812
30,877
40
Net movement in funds
2024
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
351
Total
2023
£
8,209
412
1,227
1,632
3,187
884
26
2,062
8,813
1,184
5
648
1,354
1,274
-
30,917
30,877
40
30,917
2023
£
412

7 Net movement in funds

Depreciation of owned tangible fixed assets

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

NORTHSIDE COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024

9 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
2 1
Employment costs 2024 2023
£ £
Wages and salaries 11,137 8,209

There were no employees whose annual remuneration was more than £60,000.

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Tangible fixed assets

11 Tangible fixed assets
Plant and
equipment
£
Cost
At 31 March 2023 18,742
At 30 March 2024 18,742
Depreciation and impairment
At 31 March 2023 16,405
Depreciation charged in the year 351
At 30 March 2024 16,756
Carrying amount
At 30 March 2024 1,986
At 30 March 2023 2,337
12 Stocks
2024 2023
£ £
Finished goods and goods for resale 667 641

NORTHSIDE COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024

13
Debtors
Amounts falling due within one year:
Trade debtors
14
Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income
2024
£
58
2024
£
2,523
1,322
8,649
12,494
2023
£
1,681
2023
£
826
-
4,260
5,086

NORTHSIDE COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024

15 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Balance at Incoming Resources Transfers Balance at
31 March 2022 resources expended 31 March 2023 resources expended 30 March 2024
£ £ £ £ £ £ £ £
Sellafield Charity Snowball 1,331 - - 1,331 - - (1,331) -
FareShare - - - - 3,174 (3,174) - -
Iggesund - 40 (40) - - - - -
GDP - - - - 3,750 (1,119) - 2,631
1,331 40 (40) 1,331 6,924 (4,293) (1,331) 2,631

NORTHSIDE COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MARCH 2024

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 31 March Incoming Incoming Resources Transfers At 30 March
2023 resources expended 2024
£ £ £ £ £
General funds 2,846 34,273 (35,519) 1,331 2,931
Previous year: At 31 March Incoming Resources Transfers At 30 March
2022 resources expended 2023
£ £ £ £ £
General funds 7,987 25,736 (30,877) - 2,846
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
Fund balances at 30 March 2024 are represented by:
Tangible assets 655 1,331 1,986
Current assets/(liabilities) 2,276 1,300 3,576
2,931 2,631 5,562
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
Fund balances at 30 March 2023 are represented by:
Tangible assets 1,006 1,331 2,337
Current assets/(liabilities) 1,840 - 1,840
2,846 1,331 4,177

17 Analysis of net assets between funds

18 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

Mr G Dixon Northside Community Centre Limited Trinity Drive Northside Workington Cumbria CA14 1AX

Date: 20 December 2024 Please ask for: Laura Rumney Our Ref: 2869/18(77122/L) Your Ref: T: 01900 68311

Dear Mr Dixon

Northside Community Centre Limited Accounts for the year ended 30 March 2024

We have completed the preparation of the accounts of the above company for the period ended 30 March 2024.

We enclose the following documents which require your attention before being returned to us:

  1. AW Approval copy of the Financial Statements

If you have any queries or require any further information please do not hesitate to contact us.

Yours sincerely

Steven Kirkbride

Steven Kirkbride (Dec 20, 2024 16:21 GMT)

Steven Kirkbride

Partner

For and on behalf of Armstrong Watson LLP

Armstrong Watson Carleton House 136 Gray Street Workington CA14 2LU T: 01900 68311

www.armstrongwatson.co.uk www.armstrongwatsonfp.co.uk

Armstrong Watson LLP is a limited liability partnership registered in England and Wales, number OC415608. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU where a list of members is kept. Armstrong Watson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. Unless otherwise indicated, either expressly or by the context, we use the word “partner” to describe a member of Armstrong Watson LLP or an employee of Armstrong Watson LLP in their capacity as such. Armstrong Watson Audit Limited is registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales. Registered as a limited company in England and Wales, number 8800970. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU. Armstrong Watson Audit is a trading style of Armstrong Watson Audit Limited.

Armstrong Watson Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. Firm reference number 542122. Registered as a limited company in England and Wales, number 7208672. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU. Armstrong Watson Financial Planning & Wealth Management is a trading style of Armstrong Watson Financial Planning Limited.

Armstrong Watson Trustees Limited is a limited company registered in England and Wales, number 8449 5656. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU. MyRetirement is a trading style of Armstrong Watson Financial Planning Limited. Armstrong Watson is a trading style of Armstrong Watson LLP, Armstrong Watson Audit Limited and Armstrong Watson Financial Planning Limited.