PEGSWOOD COMMUNITYHUB LIMITED
{A company limited by guaranteè and not having a share capltal)
CHARITY NUMBER
1097910
COMPANY NUMBER
04328999
TRUSTEES REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2024
Richard Alsept Chartered Accountant
16 Burlington Terrace
Cardiff
CF5 1GG

PEGSWOOD COMMUNITYHUB LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Name of Charity
Pegswood Community Hub Limited
(formerly Pegswood Community Project Limited)
Registered Charity No
1097910
Registered Company No 04328999
Directors and Charity
Trustees
Kevin Hope (Chair)- Resigned 23rd April 2024
Anne Arter- Resigned 23rt1 April 2024
Martin Booth
John Dobinson
Thomas Graham (Treasurer)
Peter Kerswell
Margaret Kerswell
Debra Tighe
Claire Hope (resigned 2nd June 2023)
Lee Richardson (resigned 23rd April 2024)
Secretary
Thomas Graham
Registered Offi
Longhirst Road
Pegswood
Northumberland
NE616XF
Independent Examiner
Richard Alsepl Chartered Accountant
16 Burlington Terrace
Cardiff
CF51GG
Bankers
Cooperative Bank
PO Box 250
Delf House
Southway
Skelmersdale
WN8 6wr
Solicitors
Sweeney Miller
Mowbray Villas
Mowbray Road
Sunderland
SR2 7EA

PEGSWOOD COMMUNITY HUB LIMITED
CONTENTS
Page
Trustees Report
Independent Examiners Report
statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
8-14

PEGSWOOD COMMUNITY HUB UMITED
TRUSTEES REPORT FOR THE YEAR TO 31 MARCH 2024
Introduction
The Trustees present their report and the financial ststements for the year ended 31 March
2024. The trustees have prepared the annual report and financial statements in accordance
with the provisions of the Statement of Recommended Practice (SORP) °Ac¢ounting and
Reporting by Charities" effective January 2015.
Governing document
Pegswood Community Hub Limited is a company limited by guarantee and its governing
document is its Memorandum and Articles of Association. It is registered as a charity with
the charty commission. Every member of the charity undertakes lo contribute such an
amounl as may be required (not exceeding £1) to the charity's assets if it should be wound
up while he or she is a member or within one year after he or she ceased to be a member.
Organisation
The charity is managed by the trustees. The number of trustees is restricted with the make-
up of the representatives of the management committee such as are required to fulfil the
criteria set out in the Memorandum and Articles of Association, to ensure adequate
representation of all areas of the Community.
Appointment of Trustees
The Directors of the company are also charity trustees for the purposes of Charity Law.
Under the requirements of the Memorandum and Articles of Association Directors are
elected annually by the company at the general meeting, with one third resigning in rotation.
Between annual meetings, the board may appoint Directors on a temporary basis to be
confimied by the company in the general meeting.
Induction of Trustees
The majority of trustees are already familiar with the practical work of the charity. Additional
new trustees are invited and encouraged to attend a series of short meetings with some of
the existing trustees to familiarise themselves with the charity and the contexts within which
it operates. These cover'.-
The obligations of board members.
The main documents that set oul the operation framework forthe charity, including
the Memorandum and Articles of Association.
Resourcing and current financial position as set out in the latest published
accounts
Future plans and objectives.
There is a strict child and vulnerable people protection policy which is reviewed annually in
consultation with all staff working with children or young people.
Page I

PEGSWOOD COMMUNITY HUB LIMITED
Objectives and activities
To provide an advice and support nefviork for families within Pegswood in the County of
Northumberland, to provide a safe, secure and creative outlet for both Ihe young and adults
of the village and those disaffected, otherwise excluded, or in need, and to advance adult
education and training, promote the presentation and protection of good health and relieve
the effects of poverty amongst the residents of the parishes of Pegswood and Longhirst.
Achievements and public benefit
We managed to overcome our major problem for 2023124, by replacing our main boiler,
which finally succumbed to old age.
Our Friday Family Nights, which included a lot of hard work from all our board members
and volunteers, proved very popular and provided a regular source of income for The Hub
over the year.
We are still suffering with British Gas, who have given us some credit for paying VAT at
200/0 instead of charging 5 % as we are a registered charity, but are refusing some of our
claims. This is an ongoing situation which will come to a satisfactory conclusion.
All our Groups are performing well, some with increased numbers (Kids Club and
Walercolours).
Our ELDERFLOWERS are back up to full strength and are going well.
The same can be said of our Toddler group "PIPLINGS ' who are now run as a NCC
Family Hub.
Our KIDZ CLUB are going from strength to strength, with numbers having to be restricted
on some nights.
Our WATERCOLOURS GROUP are increasing in numbers, with new members coming
along on a regular basis.
All our other CRAFT groups are progressing well, as are our Monday and Wednesday
Lunches and Friday Breakfasts.
A new Art group U3A ART has started on Monday afternoons and are averaging 4- 6
members each week.
OVERALL, The Hub is progressing on a very tight budget, and we will increase our efforts
in the coming year to secure grants for core funding.
Financial Report
Total income increased slightly in the year to £60,534 (2023.. £45,056). Income included
grantsldonations received of £8,252, of which £5,097 relales to restricted projects. The
Trustees are grateful for the support of all other funders, volunteers, supporters and Hub
users during the year.
Page 2

PEGSWOOD COMMUNITY HUB LIMITED
Costs, including depreciation of £5,834, were £73,200 (2023.. £53,484). This meant that
overall, there was an operating deficit of £6,832 for the year, and a deficil of £12,666 after
depreciation costs. The Trustees remain conscious of the need to control costs and run
the Hub on a broadly break-even basis at the very least.
Bank and cash balances at 31 March 2024 were £4,300 (2023.. £11,676). The bank
balance has therefore fallen slightly over the course of the year as a result of the operating
deficit. Of the cashlbank balances held at the year end, £1,362 related to restricted
projects, namely the Co-operative grant and the amounts held for the new boiler. However,
the charity is debt free, and the emphasis continues to be a COn￿ntratIon on break-even
operations, and on building core reserves where possible.
ReseNes as at 31 March 2024 were £38,231 (2023: £50,897), of which £20,490 was
unrestricted. However, unrestricted cash reseNes at approximately £3,000 represent just
one months, basic operating costs, and the Trustees remain committed to urgently building
reserves in the coming months and years.
Trustees Responsibilities
Charity law requires the trustees to prepare financial statements for each financial year,
which give a true and fair view of the state of the affairs of the charity and of its financial
activities for that year, together with its assets and liabilities al the end of the period, and
adequately distinguish any material special Irust or olher reslricted fund of the charity. In
preparing those financial statements the trustees are required to..
select suitable accounting policies and apply them consistently.,
make judgements and estimates that are reasonable and prudent.,
state whether the policies adopted are in accordan￿ with the appropriate SORP
on Accounting by Charities and the Accounting Regulations and with applicable
accounting standards, subject to any material departures disclosed and explained
in the financial statements., and
prepare Ihe financial statements on the going concern basis unless it is
inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with
reasonable accuracy al any time, the financial position of the charily, and enable them to
ensure that the financial statements comply with applicable Accounting Standards and
Statements of Recommended Practice and the regulations made under the Charities Act
2011.
The trustees are also responsible for safeguarding the assets of the charity and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.
So far as the trustees are aware, Ihere is no relevanl information needed by the company's
accountants in connection with preparing their report of which the company's accountanls
are unaware, and each director has taken all the steps that they ought to have taken as
director in order to make themselves aware ofany relevant audit information and to establish
that the company's accountants are aware of that informalion.
Page 3

PEGSWOOD COMMUNITY HUB LIMITED
Risk Review
The trust has reviewed its Risk Assessment and addressed the risks contained. This will be
continually reviewed and updated using a Risk Log.
This report was approved by the Trustees on 20th June 2024
And signed on its behalf by
Tom Graham - Trustee
Page 4

PEGSWOOD COMMUNITYHUB LIMITED
INDEPENDENT EXAMINERS REPORT ON THE UNAUDITED FINANCIAL STATEMENTS TO
THE TRUSTEES OF PEGSWOOD COMMUNITY HUB LIMITED.
I report to the Charity Trustees on my examination of the accounts of The Trust for the year
ended 31 March 2024, which are set out on pages 6 to 14.
Respective and basis of report
The trustees, who are also the directors of Pegswood Community Hub Limited ('the
Company,) for the purposes of company law, are responsible for the preparation of the
accounts in accordance with Ihe requiremenls of the Companies Act 2006 ('the 2006 Acl'}.
Having satisfied myself that the accounts of the charity are not required to be audited under
Part 16 of the 2006 Acl and are eligible for independent examination, I report in respect of
my examination of your charity's accounts as carried out under Section 145 ofthe Charities
Act 2011 ('the 2011 Act,). In carrying oul my examination I have followed the Directions
given by the Charity Commission under section 145(51(b) of the 2011 Act.
Independent examiner's statam8nt
I have completed my examination. I confirm that no matters have come to my attention in
connection with my examination giving me cause to believe-
{11 accounting records were nol kept in respect of the Company as required by section
386 of the 2006 Act., or
(21 the accounts do not accord with those records., or
(3} Ihe accounts do not comply with the accounting requirements of section 396 of the
2006 Act other than the requirement that the accounts give a 'true and fair, view which
is not a matter considered as part of an Independent Examination; and
{4} the accounts have not been prepared in accordance with the methods and principles
of the Statement of Recommended Practice for accounting and reporting by charities
(applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK {FRS102)).
I have no concerns and have come across no matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understanding of
the accounts to be reached.
Richard Alsept ACA
16 Burlington Terrace
Cardiff
CF5 1GG
DATE 20th June 2024
Page 5

PEGSWOOD COMMUNITY HUB LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
Notes
Unrestrl¢ted
Funds
Restricted
Funds
2024
2023
Income
Charitable Activities
Grants received
Rental income
Other charitable activities
Investment inGome
Total in¢ome
3,155
1,970
50,286
26
55,437
1,362
4,517
1,970
54,021
26
60,534
7,664
1,754
35,627
3.735
5,097
45,056
Expenditure
Charitable activities
Total expenditure
56,967
56,967
10,399
10,399
67,366
67,366
46,621
46,621
Operational income
(1,530)
(5,302)
16,832)
(1,5651
Depreciation charge
2,944
2,890
5,834
6,863
Net income l (expenditure)
before transfers
(4,474)
(8,192) 112,666)
(8,428)
Gross transfers be￿een funds
Net movement in funds
(4,474)
(8,192) (12,666)
(8,428)
Total funds brought forward
24,964
25,933
50,897
59,325
Total funds carried forward
38,231
50,897
The statement of financial activities includes all gains and losses in the year.
All incoming resources and resources expended derive from continuing activities.
Page 6

PEGSWOOD COMMUNITY HUB LIMITED
BALANCE SHEET AS AT 31 MARCH 2024
2024
2023
Notes
Fixed assets
Tangible assets
33,058
38,892
Current assets
Stock
Debtors
Cash in hand and at bank
1,323
1,323
1,000
11,676
13,999
5,623
Current Liabilities
Creditors and accruals
Other creditors and
deferred income
450
1,994
450
1,994
Net current assets
5,173
12,005
Net assets
38,231
50,897
Funds
Unrestricted Funds
Restricted Funds
20,490
17,741
24,964
25,933
12
Total funds
38,231
Forthe linancial period ended 31 March 2024. the company was entitled lo exemption from audit under section
47711) of the Companies Act 2006,. and no notice has been deposited under section 476111 requesting an
audit. The Iruslees acknowledge their responsibilities for ensuring that the company keeps accounting records
which comply with section 386 of the Act and preparing accounts which give a true and fair view of the slate
of affairs of the company as atthe end of the period and of ils profit or loss forthe financial period in accordance
with the requirements of section 394 and which otherwise comply with the Companies Act 2006, so far as
applicable to the company.
The financial 5talemenls have been prepared in accordance with the provisions of Financial Reporting
Stsndard 102, Section 1 a Small Entities.
Approved by the Board on 20th June 2024
Signed........
om Graham, Trustee
Page 7

PEGSWOOD COMMUNITY HUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
Accounting Policies
1.1. Accounting basls and standards
The financial statements are prepared under the historical cost convention and in
accordance with the provisions of Financial Reporling Standard 102, Section la Small
Entities, and the Charity Statement of Recommended Practice, (Charities SORP (FRS 102)
2019), as well as the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
Tangible fixed assets and depreciation
Depreciation on fixed assets is provided at rates estimated to write off the cost or revalued
amounts, less estimaled residual value, ofcash asset over its expected useful life as follows..
Land and buildings
150/0 reducing balan
Office Equipment
15 % reducing balance
Fixtures and Fittings
150/0 reducing balance
Cafe Equipment
15 % reducing balance
All assets are reviewed regularly for impairment, and written down to their recoverable,
where necessary.
1.3. Income
All incoming resources are included in the statement of financial activities when the charity
is entitled to the income and the amount can be quantified with reasonable accuracy. The
following specific policies are applied to particular ¢alegories of income..
Voluntary income is received by way of grants, donations and gifts to the charity and is
included in full in Ihe Statement of Financial Activities upon receipt. Grants, where
enlillement is not conditional on the delivery of a specific performance by the charity, are
recognised when the charity becomes unconditionally entitled to the grant.
Bank interest is included when receivable.
Income from charitable activities is accounted for as the charity earns the right to
consideration by its performance.
1.4. Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes
unrecoverable VAT.
Charitable expenditure includes all costs incurred by the charity in the delivery of its activities
and services.
Governance costs include those costs associated with meeting the constitutional and
statutory requirements of the charity and include accountancy fees.
Page 8

PEGSWOOD COMMUNITY HUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
1.5. Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the
general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or
through the lemis of funding.
1.6. Pensions
The Project operates a defined contributions pension s¢hame. Contributions are charged in
the accounts as they become payable in accordance wilh the rules of the scheme.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-temi
highly liquid investments that are readily convertible to a known amount of cash and are
subject to an insignif5canl risk of change in value.
1.8. Trade debtors
Trade debtors are amounts due from funders for merchandise sold or SeNi￿S perfomed in
the ordinary course of business. Trade debtors are recognised initially at the transadian
price. They are subsequently measured at amortised cost using the effective interest method,
less provision for impairment. A provision for the impairment of trade debtors is established
when there is objective evidence that the company will not be able to collect all amounts due
according to the original terms of the receivables.
1.9. Trade creditors
Trade creditors are obligations to pay for goods or seNices that have been acquired in the
ordinary course of business from suppliers. Accounts payable are classified as current
liabililies if the Company does not have an uncondilional right, at the end of the reporting
period, to defer settlement of the creditor for at least ￿e1ve months after the reporting date. If
there is an unconditional righl to defer settlement for at least ￿e1ve months after the
reporting date. they are presented as non-current liabilities. Trade creditors are recognised
initially at the transaction price and subsequenlly measured at amortised cost using the
effective interest method.
Page 9

PEGSWOOD COMMUNITY HUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
Income
2024
2023
Unrestricted
Restricted
Total
Grant Income
Grants received
3,155
1,362
4,517
7,664
Investment and other income
26
26
Charitable Activities
Donations, fundraising and
enterprise
Activity fees & other income
33,943
16,343
3.735
37,678
16,343
17,542
18,085
Rentals and office income
1,970
1,970
1,754
Total income
5,097
Expenditure
2024
2023
Unrestricted
Restricted
Total
Charitable expenditure
Activities & Enterprise
Building
Office and overheads
Salaries and wages
Miscellaneous
Deprecialion
17,193
24,304
7,350
7,670
2,614
7,785
19,807
32,089
7,350
7,670
18,093
15,834
5,516
6,728
2,890
13,289
5,834
72,750
6,863
53,034
59,461
Governance
Accountancy fees
450
450
450
Total resources expended
59,911
73,200
53,484
Page 10

PEGSWOOD COMMUNITYHUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
Tangible fixed assets
Property
& Improv-
ements
Equipment Fixtures
Fittings
Cafa
Total
Cost
At 1 April 2023
83,959
33,777
13,280
14,167
145,183
Additions
As at 31 March 2024
83,959
33,777
13,280
14,167
145,183
Depreclation
At 1 April 2023
60,042
27,755
10,170
8,324
106,291
Charge for the year
3,589
903
466
876
5,834
As at 31 March 2024
63,631
28,658
10,636
112,125
Net Book Value
As at 31 March 2024
20,328
5,119
2,644
4,967
33,058
As at 31 March 2023
23,917
6,022
3,110
5,843
38,892
Included in property and improvements at a cost of £1 is the centre from which the Hub
operates at Longhirst Road, Pegswood, and which was valued by Rickards in January 2015
at a market value of £150,000 for current use and a reinstatement value of £725,000 for
insurance purposes.
The purchase of the building was managed for the Hub by
Northumberland County Council who subsequently transferred ownership on 9 November
2005, for the nominal value of £1.
Page 11

PEGSWOOD COMMUNITY HUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
Debtors
2024
2023
Trade debtors
1,000
Creditors: amounts falling due within one year
2024
2023
Trade creditors
Accruals
Other creditors and Deferred Income
450
450
1,544
450
Staff costs
2024
2023
Salaries, employer Nl
and pension Costs
7,670
7,670
6,728
No employee received emoluments of more than £60,000.
The average number of staff
The charity had one member of staff employed during the year (2023.. 1 FTE).
2024
2023
Charitable Activities
Governance
Page 12

PEGSWOOD COMMUNITYHUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
Transactions with trustees and other related parties
No payments were made to trustees or other related parties {2023= £nil) for serVI￿S as a
Trustee.
10.
Governance costs
2024
2023
Accountancy and examination fees
450
450
11.
Restricted Grants and Donations
Fund names
Project
Fund
Fund
balances transfer
brought
at 1 April
forward
2023
Incoming Outgoing
resources resources
and
transfers
Fund
balances
carried
forward
New Boiler Grants Premises
Catherine
Cookson Trust
Co-operative
Capital Grants blf Premises
NCC Towns Fund Fixtures
4,050
3,735
7,785
Premises
250
250
Aclivities
2,614
18,041
1,228
25,933
1,112
2,614
1,112
2,706 15,335
Total Funds
5,097
13289 17741
Page 13

PEGSWOOD COMMUNITY HUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
12.
Fund balances
Balance
1 April
2023 incl
transfers
Incoming Resources Transfer Balance
Resources Expended
31 March
2024
Unrestricted Funds
Total
24,964
59,911
Restricted funds
New Boiler Grants
Co-operative
Catherine Cookson Trust
Capital
Total
4,050
2,614
3,735
1,112
250
7,785
2,614
1,112
250
16,379
19,269
25,933
2,890
13,289
TOTAL FUNDS
60,534
38,231
13.
Analysis of net assets between funds
Unrestricted
Funds
Restricted
Funds
Total
Tangible Fixed Assets
Current Assets
Creditors
16,679
4,261
(450)
16,379
1,362
33,058
5,623
(450)
Total
20,490
17,741
38,231
Page 14