Charlty registration number 1101223 (England and Wales) Company registratlon number 04858513 PENRITH PARISH CENTRE LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
PENRITH PARISH CENTRE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr5 M M Alli50n Mrs R A Angus Mrs S 8arton Mr P Donald Mr S J Harper MrL Hope Reverend D G Sargent Mrs SThomson Mrs J Peall Mr C Harper Mr J Langcake 5ecret•ry Mr P Donald Charlty number (England and Wales) 1101223 Company number 04858513 Re8lstered offSce Penrith Parish Centre Salnt Andrews Place Penrith Cumbrla CAII 7XX Independent examin(*r laii Th()Inpson FIAIHonsl, FCA
PENRITH PARISH CENTRE LIMITED CONTENTS Page Trustees, report Independent examiner's report Statement of flnancial activities Statement of flnanclal posStlon Notes to the financial statements 7-14
PENRITH PARISH CENTRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustee5 present thelr annual report and financial statements for the year ended 31 December 2024. The financSal statement5 have been prepared in accordance with the accountlng pollcles set out in note I to the financial statements and comply with the charlty's Memorandum & Artlcles, the Companles Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practlce applicable to charities preparing their accounts In accordance wlth the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective l January 20191. Objectlves and actlvltles The oblectives of the Company are to promote any charltable purpose for the benefit of the inhabitsnts withln Penrith and surrounding district, wlth the prov5sion of facilitles in the interests of social welfare for recreatlon, lelsure-tlme occupation and wlth the object of improving the conditlons of15fe for the said Inhabitants. Actlvitles corried out over the year include, Swlng Danclng, Scottish Dancing. Yoga, Karate, Tal Chl, Adult learnlng classes, Art Club classes and annual art exhlbltion. The Centre Is also a deslgnated polling Station. Public benefit The trustees have paid due gard to guldance issued by the Charlty Commission in dec5dlng what activities the charlty should undertake. Achlevement5 and perfomiance Slgnificont octivlties ond L7chievements agalnst objectlves The Charity has contlnued to act accordlng to Its alms and objectives ènd the Centre has contlnued to be used for a wide variety of community activities by both loca I people and vlsitors to Penrith alike, 2024 has been a very quiet year for the Centre5 Trustees. 4Èden Lontiiiues ro operare their café wh ich opens % we.ek days but opons on 3 Saturcjay during the summer manths. The water damagè to the upstairs main hall has been repaired using lime mortar 8 nd repainted. The cost of the repa ir was funded by the Centres Building Insurer. The paint work will be carried out in 2025 giving the plasterwork sufficient time to drv out. John Green retired a5 a Trustee In july 2024. At the end of the year there were 11 Trustees1S women and 6 men) providing a wide spectrum of experience, the Vlcar IRev David Sergentl, one member of St. Andrews PCC, two church goers and seven laypersons.
PENRITH PARISH CENTRE LIMITED TRU5TEES' REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flnanclal review The charity remains grateful for the help and support given by government agencies, charitable trust5 and other sources. Results for the year are shown in the financlal statements. The charity generated a total income of £38,822 in the year, and an overall expenditure of £37,749. Grdnts and Donatlons Recelved On behalf of Penrlth Parish Centre, I gratefully acknowledge the followin8 8rants and donations received this year,, 2024 Glft Ald Donatlons Cash Donatlons 1,405 990 The emphasls Is on a contlnual process of careful financlal management and to Invest the reserves to optlm15e Income wherever p05slble. The current level of unrestricted reserve5, £35,165, compri5e5 Of three components, cash flow, contingency and closure. The cash flow component wlll ensure the centre operate5 for the next twelve month5, allowing time for room hire to recover and the research Snto future means of generating unrestricted reserves wlll also contSnue, The contingency component will manage any large unexpected payments over the next twelve months. The Reserve Fund will be monitored and reported on monthly and reviewed for use next year. Going Concern to. I he Cliarity has taken a proactive stance to I'educe it5 ovorall reliaric.e on niie or two Idrge hirers and lo develop a portfolio of funders to further reduce the impact a ny one funding stream may incur. A major part of the Charity's partnership working is to keep the organisation abreast of any strategic, political or legal changes that could influence the charity. I nternal control risk5 are minimised by the implernentatlon of procedures for authorisation of all tra nsactions and project5. Procedures a re in place to ensure compliance with health and safety of staff, volunteers, client5 and visitors to the centre. These procedures are periodically reviewed to ensure that they contlnue to meet the needs of the charity. Strurture* governance and management Our Company is governed by our Memorandum & Articles which were adopted on l August 2003.
PENRITH PARISH CENTRE LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees, who are also the dSrectors for the purpose of company law, and who served durlng the year and up to the date of slgnature of the financial statements were.. Mrs M M Allison Mrs R A Angus Mrss Barton Mr P Donald Mrl S Green MrSJ Harper MrL Hope Reverend D G Sargent Mrs S Thomson Mrsj Peall Mrc Harper Mr J La ngcake (Retired l July 20241 Recrultment and t7ppointment of tru5tee5 The Management committee will be appointed at the Annual General Meetlng, by proposal, seconded and a vote. All those in the area of beneflt and users of the Community Centre are welcome to attend. OrggnisGtionol structure The organlsation con51Sts of 10 members of a voluntary EKecutive/Mana8ement Committee, 2 paid staff posltlons and a number of volunteers. Induction und tr(7ining of trustees Npw iriislees dl'e %upplipd willi d cok)V L)1 Ihp Ihdrity Tru%leps Haiidbook.. 1¢ ddilinnally, they Ineet with tlie Chair of the kTrublic benel it guidi nce wlien rtiaking a decision to which the guidance is relevant. Small company provislons This report has been prepared in accordance wilh the provislons applicable to companies entitlèd to the small companies exemption. The trustees, report was approved by the Board of Trustees. MrLH Trustet Date..
PENRITH PARISH CENTRE LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PENRITH PARISH CENTRE LIMITED I report to the trustees on my examination of the financial statements of Penrith Parish Centre Limlted Ithe charity) for the year ended 31 December 2024. Responsibllltles and basis of report As the trustees of the charity land a150 Its directors for the purposes of company lawli you are responsible for the preparatlon of the flnancial statements In accordance wlth the requirements of the Companles Act 2006. Having satlsfSed myself that the flnancial statement5 of the charlty are not requId to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examinatlon, I report In respect of my examination of the charlty's flnancial statements carrled out under section 145 of the Charities Act 2011. In carrying out my examinatlon I have followed the Dlrections gSven by the Charlty Commission under section 14515llbl of the Charities Act 2011. Independent eKamlner's statement I have completed my examinatlon. I conflrm that no matter5 have come to my attention In connection with the examlnation glving me cause to belleve that In any material respect.. accounting records were not kept In respect of the charlty as reqUId by section 386 of the Companies Act 2006. the financlal statements do not accord with those records,. or the financial statements do not comply with the accountlng requirement5 Of section 396 of the Companies Act 2006 other than any requirement that the financial statements glve a true and fair vlew, whlch Is not a matter consldered a5 part of an independent examinatlon,. or the flnan¢ial statements have not been prepared In accordan¢e with the methods and princlples of the Statement of Recommended Practice for accounting and reportlng by charities appli¢able to charltles preparing their financial Statements in accordance wlth the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021, I have no concerns a nd have come across no other m3tte.rs in connection with the examination ro which attontion should be 4 Mason Court Gillan Wav Penrith Cumbria CAII 9GR Date..
PENRITH PARISH CENTRE LIMITED STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrlrted fund5 2024 Unrestrlrted funds 2023 Restrlrted funds Z023 Total 2023 Notes Income from: Donatlons and legacies Charitable actlvities Investment5 2,395 35,821 606 1,386 28,635 383 1,386 28,635 383 Total In¢ome 38,822 30,404 30,404 Expendlture on: Charltable actlvlties 37,479 15,019 8,312 23,331 Total expendlture 37,479 15,019 8,312 23,331 Net income and movement in funds 1,343 15,385 18,3121 7,073 Reconcilialion of funds.. F urid balances at I january 2024 33.822 18,437 8,312 26,749 Fund bdlhnces ,)t 31 December 2024 .B3,1122 33,8??
PENRITH PARISH CENTRE LIMITED STATEMENT OF FINANCIAL POSITION AS AT31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible assets Iz 5,019 6,274 Current assets Debtors Cash at bank and in hand 13 3,354 27,642 923 27,425 30,996 18501 28,348 18001 Credltors: amounts falllng due wlthln one year 14 Net ¢urrent assets 30,146 27,548 Total assets less current Ilabllltles 35,165 33,822 The funds of the charlty Unrestricted funds 16 35,165 33,822 35,165 33,822 Tho company is entitled to the exemption from the èudit requirement contaiiied i n section 477 01 the Companies Act 2006, for thv VPÉir ondpd 11 Decpirilipr ?U24 acLord8iir.e witli sel tiuii ,3 16. These financial statements have been prepa red in accordance wlth the provisions a pplicable to companies subject to the small companie5 regime. The financlal statements were approved by the trustees on Ig £ts'LS Ho Trustee Company registration number 04858513 (England and Wales)
PENRITH PARISH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies Charlty Infomatlon Penrith Parish Centre Llmited Is a prlvate company limlted by guarantee Incorporated in England and Wales. The registered office is Penrith Parish Centre, Saint Andrews Place, Penrith, Cumbria, CAII 7XX. The members of the company are the Trustee5 named on page 3. In the event of the company beln8 wound up, the liablllty in respect of the guarantee is Ilmited to £10 per member of the companv. 1.1 AccountSng comientlon The financial statements have been ppared In accordance with the charlty's governlng document, the CompanSe5 Act 2006, FRS 102 "The FSnancial Reporting Standard applicable in the UK and Republlc of Ireland. I'FRS 102,1 and the Charities SORP "Accountlng and Reporting by Charitle5: Statement of Recommended Practlce applicable to charltles preparSng thelr accounts In accordance wlth the Financial Reporting Standard applicable In the UK and Republlc of Ireland IFRS 1021" leffective l January 20191. The charity Is a Public 8eneflt Entlty as defined by FRS 102. The charity has taken advantsge of the provislons In the SORP for charltles not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, whSch 15 the functlonal currency of the charity. Monetary amount5 in these financial statements are rounded to the nearest £. The financlal statements have been prepared under the hSstorical cost conventlon. The prlncipal accounting pollcles adopted are set out below. 1.2 Going concern Al Ilie Iii))*i ul appr()ving tl)p linanoiol 5ratpniei)Is. rh? tiijsiees have a rea5nnable exp()rtation tliat the ch3rity ha5 Re5ti'icted lund5 are siibiect to specific coriditioiis by donors 01 grantor% as to how they may be used. The purposes and uses of the restricted funds are set out i n the notes to the financial 5tatement5. 1.4 Income All incoming resources are included in the Statement of financial actlvltie5 when entitlement has passed to the charity,. It is probable that the economic benefits assoclated with the transactlon will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donatlOll5 or grants is recogni5ed when there Is evidence of entitlement to the glft, ceipt is probable and its amount can be measured reliably. legacy income Is recognised when receiptls probable and entitlement 15 established. income from donated goods is measured at the falr value of the goods unless this is Impractical to measure rellably, in whlch case the value is derived from the cost to the donor or the estimated resale value. Donated faclllties and seNices are recognised in the atcounts when received if the value can be reliably measured. No amounts are included for the contrlbution of general volunteers. Income from contracts for the supply of services is recognlsed with the delivery of the contracted service. This is classified as unrestricted funds unless the is a contractual requirement for it to be spent on a particular purpose and returned if unspent, In which case it may be regarded a5 restrirted.
PENRITH PARISH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policles Icontlnued) 1.5 Expenditure Expendlture 15 recognised on an accrua15 basis as a liability Is Incurred. Expenditure Includes any VAT which cannot be fully recovered, and is classlfled under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundralslng activities, events, non-tharitable trading actlvltles, and the Sale of donated goods. expendlture on charitable actlvltles Includes all costs Incurred by a charlty in undertaking activities that further its charitable aims for the benefit of its beneflciaries, Includlng those support costs and costs relating to the governance of the charity apportioned to charltable activities. other expenditure includes all expenditure that is nelther related to ralsing funds for the charlty nor part of Its expenditure on charltable actlvltle5. All costs are allocated to expenditure categorles reflecting the use of the resource. Direct costs attrSbutable to a single act5vlty are allocated dlrectly to that activity. Shared cost5 are apportioned between the activities they contrlbute to on a reasonable. lustifiable and consistent basis. 1.6 Tan85ble fixed assets Tangible fixed assets are Inltially measured at cost and subsequently measurecl at cost or valuation, net of depreclation and any impalrment losses. Depreciation is recognised so as to write oft the cost or valuation of assets less their residual values over their useful lives on the following bases., 1.7 Impèirment of fixed assets At each reporting end date, the charity review5 the carrying amounts of its tangible assets to determine whether there is any indication that those a55et5 have suffered an irnpairment Ios5. If any such indication exists, the recoverable amount of the a55et is estimated in order to determine the extent of the impairment loss lif any). 1.8 Cash and cash equivalents Cash and cash equlvalents include cash in hand. deposits held at call wlth banks, other short-term liquid Inve5trnent5 with orlglnal maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitie5.
PENRITH PARISH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Ac¢ountlng policles Icontinued) 1.9 Flnanclal Instrurnents The charity has elerted to apply the provislons of Section 11 'Basic Financlal Instruments. and Section 12 '0ther Flnanclal Instruments Issues, of FRS 102 to all of its flnancial in5tnJments. Financial instruments a recognised in the charlty's balance sheet when the charlty becomes party to the contractual provisions of the instrument. Flnancial assets and Ilabllltles are offset, wlth the net amounts presented In the financlal statements, when there Is legally enforceable right to set off the recognlsed amounts and there Is an Intentlon to settle on a net basls or to reallse the asset and settle the liablllty slmultaneously. 8aslcflnanclol osset5 Basic financial assets, which Include debtors and cash and bank balances, are inltlally measured at tran5aCtlon prlce including tran5actlon costs and are subsequently carrled at amortlsed c05t uslng the effectlve interest method unless the arrangement constltutes a financlng transactlon, where the transaction Is measured at the present value of the future receSpts dlscounted at a market rate of Interest. Financial assets classified as receivable withln one year are not amortlsed. Bttsicllnanclal liobllltles Basic financlal liabilitie5, IncludSng credltors and bank loans are inltially recognlsed at transactlon price unless the a rrangement constitute5 a financing transaction, where the debt instrument Is measured at the present value of the future paymènts discounted at a ma rket rate of Interest. Financlal liabilities classified as payable wlthln one year a re not amortised. Dphl I n4triiiiirnt% f)rp %iih%eciiJvntly Cd ri-led ai timor tispd rc)%t, Li%iiig thp pll?rl ive Iiiter?sl rate meihod. Derecognition offint7ntiol liobilities l.-inancial liabilities are derecognised when the charity'5 contractual obligation5 expire or are discharged or cancelled. 1.10 Retlrement beneflts Payments to defined contribution retlrement benefit schemes are charged as an expense as they fall due. Crltlcal accountlng estlrnates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and as5umptlons about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and assoclated assumptions are based on historical experience and other factors that are consldered to be relevant. Actual results may differ from these estimates. The estimates and underlylng assumptions are reviewed on an ongoing basls. Revisions to accounting estlmates are recognised in the period in whlch the estimate Is revised where the revision affects only that period, or in the period of the revision and future perlods where the viSIon affects both current and future periods.
PENRITH PARISH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donatlons and legacies Unrestrlcted funds 2024 Unre5trirted funds 2023 Donatlons and glfts 2,395 1,386 Donatlons and 81fts Glft Aid Cash Donatlon5 Other 1,40S 990 730 315 341 2,395 1,386 Income from Charltable actlvltles Unrestricted funds 2024 Unrestrlcted funds 2023 Unrestricted funds 2024 Unrestricted funds 2023 Interest receivable 606 383 10-
PENRITH PARISH CENTRE LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlture on charitable artlvltles Room lettin8s Room lettlngs 2024 2023 Dlrert $t$ Staff costs Depreclation and Impairment Premlses costs 7,132 1,568 13,718 1,255 35,026 36,281 22,418 Share of support and governance c05ts15ee note 7) Governance 1,198 913 37,479 23,331 Analysls by fund Unrestricted funds Restricted funds 37,479 15,019 8,312 37,479 23,331 Support costs allocated to activities 2024 2023 Analysed between.. Room lettings 1,198 913 2024 2023 Governance costs comprlse: Independent examinatlon fees Bank charges 1,062 136 840 73 1.198 913 11
PENRITH PARISH CENTRE LIMITED NOTE5 TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Net movement in fund5 2024 2023 The net movement in funds is stated after chargingllcreditingl: Fees payable for the independent examlnatlon of the charity's financial statements Depreclation of owned tangible fixed a55ets 1,062 1.255 840 1.568 Trustees None of the trustees lor any persons connected wlth them) recelved any remuneration or benefits from the charity durlngtheyear. io Employees The average monthly number of employees during the year was: 2024 2023 Number Number Employment costs 2024 2023 There were i)0 employees wl)ose a nnuol remuner31101) was more tha n £tiO,000. Remuneratlon of key management personnel The remuneration of key management per50nnel was as follows: 2024 2023 Aggregate compensation 7,132 11 Taxatlon The charity is exempt from taxation on its actlvSties because all its income is applled for charitable purposes. 12-
PENRITH PARISH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Tanglble fixed assets Freehold land and bulldln65 Plant and egulpment Flxtures arrfl Ilttln88 Computer5 Cost At l January 2024 69,798 6,557 994 837 78,186 At 31 De¢ember2024 69,798 6,557 994 837 78,186 Depreclatlon and Impalmient At l January 2024 DeprecSation charged In the year 66,396 680 4,259 460 668 65 589 50 71,912 1,255 At 31 December 2024 67,076 4,719 733 639 73.167 Carrylng amount At 31 December 2024 2,722 1,838 261 198 5,019 At 31 December 2023 3,402 2,298 326 248 6,274 13 Debtors 2024 2023 Amnunts falliiiR diiD within one yÉJar' 14 Creditors.. amounts falling due within orio year 2024 2023 Accruals and deferred income 850 800 15 Retirement benefit schemes 2024 2023 Deflned contribution schemes Charge to profit or loss In respect of defined tontributlon scheme5 113 The charity operates a deflned contributlon pension scheme for all qualifying employees. The assets of the scheme are held separdtely from those of the charity in an independently administered fund. 13-
PENRITH PARISH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 32 DECEMBER 2024 16 Unrestricted furKIs The unrestricted funds of the charity comprise the unexpended balances of donatlons and grants which are not subject to speclfic conditlons by donors and grantors as to how they may be used. These include designated funds which have been set aside out of vnrestricted funds by the trustees for specific purposes. At ljanuary 2024 Incoming resour¢es Resources At 31 December expended 2024 General funds 33,822 38,822 137,4791 35,165 Prevlous year: At ljanuary 2023 Incomlng resources Resources At 31 December expended 2023 General funds 18,437 30,404 115,0191 33,822 17 Oper•tln8 lease ¢ommltments Lessee Al the reporting end date the charity had outstandlng commitrrents for future minimum lease payments under non- cancellable operating leases, which fal I due as follows.. 2024 2023 J,1100 18 Related party transartions The charity has paid £SOO rent in the year to St Andrew's Room Trust of whom Rev. David Sargent is also a trustee. There were no other disclosable related party transactions during the year12023 - none). 14-