REGISTERED IN ENGLAND COMPANY NO 4257830 REGISTERED CHARITY NO 1101814 ICENI PARTNERSHIP LIMITED (LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Clenshaw Minns Limited Chartered Accountants
ICENI PARTNERSHIP LIMITED (LIMITED BY GUARANTEE) tNFORMATION FOR THE YEAII ENDED 31 DECEMBER 2024 Trustees D Tallon A Dickens P Bray S Fowler J Anscombe G Darkins C Peak P Smyth Cbairnian Vice Chainnan Company number 4257830 Charity number 1101814 Reglstered offlce Swaffliam Community Centre The Campingland Swaffliam Norfolk PE37 7RB Accountants Clenshaw Minns Chartered Accountants 24 Market Place Swaffliam PE37 7QH Bankers Lloyds Bank PLC Gonville Place Cambridge Branch 95 Regent Street Cambridge CB2 IBQ Solicitors Ward Gethin Archer Solicitors I l London Street Swaffham Norfolk PE37 7BW
ICENI PARTNERSHIP LIMITED (LIMITED BY GUARANTEE) CONTENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Trustccs, report Statement of TTUStees' responsibilities Independent Accountants, report Statement of financial activities Balance sheet Notes to the financial statements 8-14
ICENI PARTNERSHIP LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT FOR THE YEAK ENDED 31 DECEMBER 2024 The Trustees prcsent their report and accounts for the year ended 31 December 2024. Reference and Administrative Details Charity Number. 1101814 Company Nurnber: 4257830 Office: Swaffllam Community Centre, The carnplnglan Swafflyam, PE37 7RB Objects of the company To promote the economic. social and environmenLql well-being of SWafflrn and the Suound1ng villages. To work with community groups to identify local needs and support projects to improve the quality of life for people living. working aDd visiting the area. Governlng Document The Iceni Partnership is a company limited by guarantee and a re8lStered cbarity. It is governed by its Memorandurn & Articles of Association. The company w&s Incoorated on 24 July 2001. The company changed its name from The Swafflwn & District Partnership to Iceni Partnership Limited on 23 March 2004. Appolntment of Trustees One third of the tntteS are subject to retirement by rotatioll at the Annual General Meeting, where they may be re-¢lcLted if they so wish. Organisatlon The Partnership remit is to operate as a Social Ente4)rise. The Board of DirectorsNSteeS sets the long-temi strategy, oversees ihe efficient functioning of the Partnership, regulates its constitutional aims and approves the accounts. The Partnership employs two full-time and four part-time paid officers and operates out of its office in Swaffliam's Community Centre. Alms of the Partnership Providing the means by which local people can both influence how their community develops and gain confidence thai their individual contribution will count and be effective. Building an enlarged volunteer base across the Partnership area by encouraging people to get involved in improving their local community. Adding value to thc work of statutory bodies and acting as an enabler, working across multi-agency boundari&8.
ICENI PARTNERSHIP LIMITED (LIMITED BY GUARANTEE) TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Working with young people, through support Organisations, on projects that help develop their commitment to community involvement from an early age. Providing inforniation and expertise to support local groups in acbieving their aims. Facditating appropriaie training to develop individual skills. Carrying out a co-ordinating and signposting role in community and business development. Review of actlvities The Partnership Manages both the Assembly Rooms and Community Centre, under 99 year leases from Swaffl)am Town Council. The Centre leaseslrents space to community support groups including Home Start, Family Action, Norfolk Community Learning Services and West Norfolk Community Transport, Change - Grow - Live (CGL}, Citizens Advice Mid Norfolk, Wellbeing Service, Alcoholics Anonymous and many private counselling and support services. The Centre also boasts a full-tirne ¢¢he that accommodates children from babies to school age. The Partnership owns eight business units on the EcoTech Business Park. Their annual rental income, together with the operating income from managing the Community C¢ntre and Assembly Rooms meets all the managerial and office costs of the Parthership. Trustees The Trustees, who are also th¢ DircctOTS for the purpose of company law, who served during the year are: D Tallon A Dickens P Bray S Fowler J Anscombe G Darkins C Peak P Smyth Chairn]an Vice Chaimian None of the Trnstees has any beneficial interest in thc company. All of the Trustces are members of the company and guarantee to contribute £1 in the eTrent of a winding up. Risk management The Trustees actively review the major risks wbich thc charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual rei'iew of the controls over key fu]cial systcms, will provid¢ sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the charity and confimi that they have established systems to mitigate the significant risks.
ICENI PARTNERSHIP LIMtTED (LIMITED BY GUARANTEE) TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Financial Revie The 2024 accounts show Iceni partnerships commitment to the lease held by us and Swaftham Town Council with regard to regular maintenance and improvements to the fabric of both th¢ Swaffliam Assembly Rooms and Swaffl)am Community Centre. Tt is Tceni Partnership's inteniion to continue a programme of building improiemenls to both venues, to enhance visitor experience and continue its social contribution to the benefil of Swafflwn and the surrounth'ng villages. Reserves Policy The Trustees have a policy whereby unrestricted cash fi]nds held by the Charity should be sufficient to continue current activities for a minimum one-year period. Accountants Clenshaw Minns Limited were ie-appointed &s the charitable company's accountants during the year and have expressed their willingness to continue in that capacity. This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities and in accordance with the special provisions of the Companies Act 2006 relating to small entities. Approved by the Management Committee on ........... .... signed on its Ixhalf by: 7t)25 D Tallon
ICENI PARTNERSHIP LIMITED (LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Company law requires the Trnstees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the company and of the financial activilies of the company for that period. In preparing those fll)ancial statements, the Trustees are required to: select suitable accounting policics and then apply them consistently. make judgements and cstimates that are reasonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation. The Trustees are responsible for keeping accounting records whicb disclose with reasonable accuracy at any time the financial position of th¢ company and to enable them to ensui"e the financial statements comply with Cornpanies Act 2006. They are also responsible for safeguarding the assets of the cornpany and hence for taking reasonable steps for the prevention and detection of fraud and other Iegular1t7es. Amounts are presented within items in the statement of financial activiti¢s and balance sheet, the Trustees have had regard io the substance of the reported transa¢tion or arrangement, in accordance with generally accepted accounting principles or practice. In thc case of each of thc persons who arc Trustces at the time when the Trustees, report is approved: so far as the Trustee is aware, there is no relevant audit inforniation (inforniation needed by the company's auth'tors in connection with preparing their report) of which the company's auditors are unaware, and each Trustee has taken all the steps he ougbt to have takcn as a Trustee in order to make himself aware of any relevant audit infonnation and to establish ihai the company's auditors are aware of that infonnation.
ICENI PARTNERSHIP LIMITED (LIMITED BY GUARANTEE) ACCOUNTANfs' REPORT TO THE TRUSTEES ON THE UNAUDITED ACCOUNTS OF ICENI PARTNERSHtP LIMITED Company registration number 4257830 In accordance with the engagement lelter dated 17 July 2008. and in order to assist you to fulfil your duti¢s under the Companies Act 2006, we have compiled the financial statement of the company, which comprise the statement of fllwlcial activities, the balance sheet and the r¢lated notes from the accounting records and inforn]ation and explanations you have given to us. This rcport is made to the company's board of trustees. as a b)dy, in accordance with the ternis of our engagement. Our work has been undertaken so that we might compile the fjnancial statements that we have been engaged to compile, report to the company's board of trustees that we have done so, and state those matters thal wc havc agreed to state to them in this report and for no other pUoSe. To the fullest extent pern]itted by law, we do not accept or assume responsibility to anyone other than the company and the company's board of trustees, as a body, for our work or for this report. We have carried out this engagement in accordance with technical guidance issued by the InStite of Chartered Accountant5 in England and Wales and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements. You have acknowledged on the balance sheet for the year ended 31 December 2024 your duty to ensure that the company has kept proper accounting records and to prcparc financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year. We have not been instructed to cary out an audit of the fmancial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or infomialion and explanations you have given to us and we do not, therefore, express any opinion on the financial statements. Clenshaw Minns Chartered Accountants 24 Market Place Swafflwn Norfolk PE37 7QH Datd..IEIo.8/4oi¥......
ICENI PARTNERSHIP LIMITED (LIMITED B Y GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (INCLUDtNG INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 Total funds 2024 Total funds 2023 Unrestricted Restrlcted funds funds Notes Incoming resources from generated funds Voluntary Income Donations and gifts Grants receivable Trading activities Newsletter Bank interest 7.664 500 207,960 12,054 50 7,664 500 207,960 12,054 50 7.188 94,838 167,493 8,570 62 Investment fincome Transfer to Unrestricted Total Incoming resources 228,228 228,228 278,151 Resources expended Charitable activities Other expenditure: Newsletter expenses 227,158 227.158 272,612 8.356 8,356 9,978 Governance costs 30,986 30,986 35,038 Total resources expended 266.500 266.500 317,628 Net movernent in funds (38,272) (38,272) (39,477) Reconciliation of funds Total funds brought forward Transfer from Rcstrictcd funds 339.878 339,878 379,555 Total funds carried forward 11 301.606 301,606 339,878 Statement of Total Recognised Gains or Losses The company had no recognised gains or losses other than the above income for the financial period ended 31 December 2024.
ICENI PARTNERSHIP LIMtTED (LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 DECEMBER 2024 Registration number 4257830 2024 2023 Notes Fixed 2ssets Intangible assets Tangible assets 197,512 226,986 197.512 226,986 Current assets Debtors Cash at bank and in hand 8,708 107,290 9,799 127,565 115,998 137,364 Creditors: amounts falling due Trvithin one year 11.904 24,472 Net current assets 104,094 112,892 Total assets less eurrent Ilabllltles 301.606 339,878 Provisions for Ilabllitles and charges Net assets 301,606 339,878 Unrestrlcted funds Restricted funds 301.606 339,878 Total Funds 301,606 339,878 For the year ended 31 Dcccmber 2024, the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The members acknowledge their responsibiliti&s for: (i) ensuring that the company keeps accounting records which comply with the Companies Act. and (li) preparing the financial statements in accordance with the provisions applicable to small companies subject to the small companies regim¢ and in accordance with the FRS102 SORP. Trustee Trustee D Tallon G Darkins The notes on pages 8 to 14 forn] part of these fmancial statements.
ICENI PARTNERSHIP LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS Accounting policies The significant accounting policies used in the preparation of these financial statements are: 1.1 Basis of preparation Thc accounts are prepared wider the historical cost convention. The accounts have been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities preparing their accounts in accordance with thL Financial Reporting Standard applicable in the UK and Rcpublic of treland (FRS 102) issued on 16 July 2014 and with the Cbarities Act 201 I. 1.2 Incomlng resources 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 categories of income: Voluntary inLome is received by way of grants, donations and gifts and is included in full in the Statement of Fl[LcIal activiiies when receivable. Grants, where entitlement is not conditional on the delivery of a specific perforniance by the charity, are recognised when the charity becomes unconditionally entitled to the ant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not be included in ihcse accounts. Tnvestment incorne is included when receivable. Incoming resources from ¢barilable trading activity are accounted for when earned. Incoming resources from grants, where related to perfonnance and specific deliverable5, are accounted for as ihc charity earns the right to consideration by its perfomiance. 1.3 Resources expended Expenditure is recognised on an accrual b&sis as a liability is incurred. Expenditure includes any V AT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposGS. Charitsble expenditurc comprises those costs incurred by the charity in thc delivery of its activities and services for its beneficiari&s. It includes both costs that can be allocated directly to such activitics and those costs of an indirect nature necessary to support them,
ICENI PARTNERSHIP LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS Accounting Policies (continued) Governance costs include those costs associated with meeting the constitutional and statutory requirements of the ckwity and include the accounting fees and costs linked to the strategic management of the charity. 1.4 Tangible fixed assets and depreclatlon Tangible fixed assets are stated at cosl less depreciation. Depreciation is proNided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected usefvl life, as follow5: Freehold buildings Office Equipment over 25 years over 3 years 1.5 Accumulated funds Restricted funds are subject to specific conditions by donors as to how they may be used. 1.6 Going concern The financial statements have been prepared on the going concern basis. Total resources expended Staff Costs Depreciation Other costs Total 2024 Total 2023 Direct expenditure: Project expenditure Newsletter expenditure HAZ project Other expenditure: Management and administration 115,599 30,986 111,559 8,356 258,144 8,356 186,966 9,978 120,684 Total resources expended 115,599 30,986 119,915 266.500 317,628
ICENI PARTNERSHIP LIMtTED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS Staff costs None of the Trustees (nor any persons connected with thern) received any remuneration during the period. Expenses bave been reimbursed &s and when inCued on company business. The staff costs of the Temaining staff were: 2024 2023 Wages and salarics Social security costs Pension costs (defined contribution pension plan) 108,534 4,014 3,051 101,457 3,209 2,725 115,599 107.391 The average monthly number of staff employe calcula*d as full-time equivalents, during the year was as follows: 2024 2023 Direct charitable work and administration No cmployee received rernuneration of more than £60,000. There are no cmploytts who received pension contributions to money purchase schemes and no employees have retirement benefits accruing under money purchase nor defmed benefit schemes. 10
ICENI PARTNERSHIP LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS Grants receivable 2024 2023 Unrestrieted Grants HAZ Project 500 500 94,338 500 94,838 Restricted Comic Relief Trading activities - Income 2024 2023 Unrestrlcted Community Centre rental Community Centr¢ Hall hire 41,208 66,527 37,248 62.312 Subtotal 107,735 99,560 Brocks Road rental Assembly Room Hall hire Wedding fair Your local Swaffliam Lunch club Big Norfolk Holiday Fun Other 39.732 37,786 37,248 25,683 (75) 6,600 4,007 16,107 1,070 207.960 167,493
ICENI PARTNERSHIP LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS Intangible fixed assets Goodwill Newsletter Total Cost At l January 2024 Additions 15,000 15,000 At 31 December 2024 15.000 15,000 Depreciydtion At l January 2024 Charge for the year 15,000 15,000 At 31 December 2024 15.000 15,000 Iyet book value At 31 December 2024 At l January 2024 TaDgible fixed assets Flxtures Freehold Land 2nd Fittings and Buildillgs Total Cost At l January 2024 Additions 75.456 1.512 354,138 429,594 1,512 At 31 December 2024 76,968 354,138 431,106 Depreciation At l January 2024 Charge for the year 46,778 16,821 155,830 14.165 202,608 30.986 At 31 December 2024 63,599 169,995 233,594 Net book value At 31 December 2024 13.369 184,143 197,512 At l January 2024 28,678 198,308 226.986 The investmenl market values of the units at the Eco Tech Business Park, Swaftham, are not materially different to the carrying value. 12
ICENI PARTNERSHIP LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS Debtors 2024 2023 Other debtors 8.708 9,799 8.708 9,799 Creditors: amounts falling due within one year 2024 2023 Other creditors Accruals and deferred incorne 10,739 I,165 18.608 5,864 11,904 24,472 10. Analysls of Net Assets behveen funds Restricted Unrestricted Tangible Fixed Assets Debtors C&8h Creditors 197,512 8,708 107,290 (11,904) 301,606 1 l. Reconclllation of movements In funds Restricted Unrestricted Opening funds l January 20?4 Net movemcnt in fvnds for the period Transfer from Rcstrlcted fimd 339,878 (38,272) Closing funds 31 Decembcr 2024 301.606 Closing funds shown above are held on trust and in accordance with the restrictions contained in the company's Memorandum of Association. 13
ICENI PARTNERSHIP LIMtTED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS 12. Transactions with Trnstees and connected persons None of the directors (all of whom also act as TTUStees for the activities of the company) entered into any material transactions. contract or other arrangement with the compaiiy. 14
ICENI PARTNERSHIP LIMITED (LIMITED BY GUARANTEE) The following pagcs arc for managcment puq)oses only.
ICENI PARTNERSHIP LIMITED (LIMITED BY GUARANTEE) RESTRICTED FUNDS YEAR ENDED 31 DECEMBER 2024 Restricted Funds Transfer Balance to Balance BIFwd Income Expenditure Unrestricted CIFivd