RECISTERED COMPANY NUMBER: 05317292 (Ellglalld and W#les) REGISTERED CHARITY NUMBER: 1107811 Report of the Trustees Unaudited Financial Slatements for the Year Ended 31 January 2024 for JUBILEE FIELDS COMMUNITY ASSOCIATION Mitchells Grievson Chartered Accountants Kensington House 3 Kensington Bishop Auckland Co. Durham DL14 6HX
JUBILEE FIELDS COMMUNITY ASSOCIATION (REGISTERED NUMBER: 05317292) Report of tbe Trustees for the year ¢nd¢d 31 January 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ¢nded 31 January 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparitig their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Vision and Mission Our vision and mission ate the heart of all that we do along with the Continual succession planning to retain existing staff, nintain th¢ centre to a higb standard and provide a safe and friendly environment for adultsl¢hildreDfyoung people and their families to engage in the services and activities the centre has to offer. 2023 has been an excellent year for the community centre. following the pandemic we are now flnally back on our feet. We have canied out a review of our slaffmg and tsvstee structures and made changes to ensure the future sustainability of the centre. We welcomed new Trustees to the Centre with a mlxtLe of skills and experience. We have also appointed a designated Centre Development Co-ordinator who is responsible for funding and other back office functions to free up our Community Support Workers to deliver our activities. We were success] in securing funding from ihe National PowerGrid so we could install solar pane]s to the roof of the community centre with an inverter and battery storage to enable us to be self-sufficient should there be a power outage. The community c¢ntre is now able to open its doors to our local residents and provide them with a safe place to stay with electricity, heating and lighting irA times of need. We were thrilled to welcome n¢w groups and users to the c¢ntre in addition to supporting and working with our long-standing groups. We have continued to grndually see users regain confidence to access the many serviceslactivities the centre has to offtr such as social groups for men, women, children, employability and training courses along with activities to improve individuals, confidence, menlal healtb and overall wellbeing. We continue to build up our valuable existing patherships, whilst also welcoming new funders as part of our mission to provide vital services and support to our conununity. A huge thank you goes to the following for their mu¢h aPplated support and guidance througb 2023 into 2024 and beyond: Barbour Foundation Bishop Auckland & Shildon Area Action Partnership County Durham Conununity Foundation County Durham Sports Councillor Hannah Hanratty Councillor Shirley Quinn Durham Community A¢tion Durham County Council Livin (our local social housing provider) Mears Group National Lottery Community Fund Northern PowerGrid Foundation PPG Colourful Communities Pioneering Care Partnership (PCP) The Scotto Charitable Trust Shildon Town Council and the Mayors Fund Wood Group UK FINANCIAL REVIEW Reserves policy The Management Committee consider it prudent to maintain unrestricted fids, which are the free reserves of the charity, at th¢ level of three months of core cost expenditure and redundancy entitlemenls. The reserves are mainly represented by the actual community centre buildin& to include all fixtures, fittings and equipment totalling £379,216 . Working w>ital reserves of £13,468 are considered satisfactory. Page 2
JUBILEE FIELDS COMMUNITY ASSOCIATION {REGISTERED NUMBER: 05317292) Report of the Trustees for the year ended 31 January 2024 FINANCIAL REVIEW Risk Mana ement An ongoing review process has revealed major funding opportunities available to the company and also any risks to which it is exposed. The Management CoDunittee reviews fmancial activities regularly, with remedial action taken to compensate for ally projected fifftding shortfall or overspend. Internal risks are minimised by the authorisation procedures iti place for all transactions. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution and Objects Jubilee Fields Community Association is considered under memorandum and articles of association dated 20th December 2004 and is a registered charity (Charity Number 1107811). It is limited by guarantee. The company was registered with the same name and objectives as the original charitable trnst (Company Number 05317292). On 26th January 2005, the coinpany was recolSed as charitable by the Charity ComLnissioners for England and Wales (Charity Number 1107811). The trustee directors at the year end are set out on page l. No director had a beneficial interest in the company. Since 31st January 2005, the charitable company has continued the work of the original charitable trust, followAng the transfer of the tsst's assets and liabillties. The original charitable trust was wound up aJ)d removed from the Charities Commission register on 14th June 2005. The company's objectives are to promote the benefit of the inhabilants of Jubilee Fields Estate and neighl)ourhood defmed by Shildon Town {the area of benefit) without distinction of sex, sexual orientation, race of political. religious or other opinions by associating together the said inhabitants and the local authorities, voluntary and other organisations in common effort to advance education and to provide facilities in the intsrest of social welfare for the reffeation and leisure time occupation with the object of improving conditions of life for the said inhabitants. To maintain and manage the Community Centre in fifftherance of these objects. Organisatiollal struelure The tnlstee directors who have served during the period since the year end are set out on page l. The directors ofthe company are also charity trustees for the purposes of company law. Under the r¢quirements of the Memorandum and Articl¢s of Association the trustee dIrlorS are elected to serve for a period of three years after which they must be rerelected at the next Annual General Meeting. Th¢ charitable company is managed by the board of trustees which comprises not less than three trust¢es. The opportunity for appointment as a tstee is promoted widely and infonnal meetings for those who are potentially interested in becoming trustees are undertaken to inforn] them of the charity and the role and responsibilities of the trustees Approved by order of the board of trustees on 22 November 2024 and signed on its b¢half by: H Hanratty . Trustee Page 3
Independent Examiner's Report to the Trustees of Jubilee Fields Community AssociatRon Independent examiner's report to the trustees of Jubilee Fields Community Assoeialion {'the Company,) I report to th¢ chaTity trustees on my ¢xaminatson of the accounts of the Company for the year ended 31 January 2024. Responsibilities and basis of report As the charity's ljiistses of the Company (and also its directors for the PUTposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 Cthe 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charitys accounts as carried out uDd¢r Section 145 of the Charities Act 2011 ('the 2011 Art,). In wing out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act, Independent examiner's statement I have completed Jny examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act" or the accounts do not accord with those records; or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Acl other than any requirement that the account5 give a trne and fair view which Rs not a matter considered as part of an independent examination; or 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 and Republic of Ireland (FRS 102)). I have no concerns and have come acrnss no other matters ill 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. Mr Nigel Rea FCA Mitchells Grievson Chartered Accountants Kensington House 3 Kensington Bishop Auckland Co. Durham DL14 6HX 22 November 2024 Page 4
JUBILEE FIELDS COMMUNITY ASSOCIATION Statement of Financial Activities for the year eDd¢d 31 January 2024 2024 Totsl funds 2023 Total fimds Unrestricted funds Restricted fund Notes INCOME AND ENDOWMENTS FROM Charitabl¢ activities Funding for salaries and centre costs 37alO 88,106 125,416 77,830 Other trading activities Investment income 1,811 1,812 112 1,000 Total 37,423 89,917 127J40 78,841 EXPEIYDrruRE ON Charitable activities Funding for salaries and centre costs 60,747 65,762 126,509 97,845 NET JNCOMEI{EXPENDITURE) Transfers between funds {23J24} 19,775 24,155 (19,775) 831 (19,004) 13 Net movement in funds {3,549) 4J80 831 (19,004) RECONCILIATION OF FUNDS Total funds brought forward 396233 26,1)97 422J30 441.334 TOTAL FUNDS CARIUED FORWARD 392,684 30,477 423,161 422,330 The notes forni part of these financial statements Page 5
JUBILEE FIELDS COMMUNITY ASSOCIATION (REGISTERED NUMBER: 05317292) Balance Sheet 31 January 2024 2024 Total fullds 2023 Total funds Unrestricted funds Restricted fund Notes FIXED ASSETS Tangible &ssets io 379,217 379,217 371,114 CiJRRENT ASSETS Debtors Cash at bank at)d in hand 3,732 11,325 3,732 41.802 1,801 50,552 30,477 15,057 30,477 45,534 52,353 CREDITORS Amounts falling due within one year 12 (1,590) (1,590) (1,137) IYET CURRENT ASSETS 13,467 30,477 43,944 51.216 TOTAL ASSETS LESS CURRENT LIABILITIES 392,684 30,477 423,161 422,330 NET ASSETS 392,684 30,477 423.161 422.330 FUM)S Unrestricted funds Restricted funds 13 392,684 30,477 396,233 26,097 TOTAL FUNDS 423,161 422,330 The charitable cotnpany is entitled io exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024. The members have not required the company to obtain an audit of its fmancial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing fmancial statements which give a ttue and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial y¢ar in accordance with the requirements of Sections 394 and 395 and which otherwise comply with th¢ requirements of the Companies Act 2006 relating to fmancial statements, so far as applicable to the charitsble Company. (b) The notes form part of these fmancial statements Page 6 continued...
JUBILEE FIELDS COMMUNITY ASSOCIATION (REGISTERED NUMBER: 05317292) Balance Sheet- continued 31 January 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regitne. The financial statements were approved by the Board of Trustees and authoiised for issue on 22 November 2024 and were signed on its behalf by: H Hanratty- Trustee The Dotes forn) part of these f]nancial statements Page 7
JUBILEE FIELDS COMMUNITY ASSOCIATION Notes to the Finaneial Statements for the year ended 31 January 2024 ACCOUNTING POLICIES Basis of preparing tbe financial statements The financial statements of the charitable company, which is a public b¢nefit entity under FRS 102. have been prepared in accordance with thc Charities SOIiP (FRS 102) 'AccountAng and Reporting by Charlties: Statement of Recolluneted Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 '1'he Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The fmancial statements have been prepared undei the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the incoroe will be received and the amount can be measured reliably. Expenditure Liabilities are recogni5ed as expenditure as soon as there is a legal or constrnctive obligation comrnitting the charity to that expenditure, it is probable that a transfer of econornic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attribuled to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible red assets Depreciation is provided at the following annual ratss in order to write off each asset over ils eslimated usethl life. Freehold property Plant and machinery rixtures and fittings 20/0 on cost 5 /0 on cost 200/0 on cost Taxation The charity is exempt from corporation tax on its charitabl¢ activiti¢s. Fund accounting Unrestricted funds can be used in awordance with the charitable objectives at the discretion of the trustees. Restricted fidS can only be used for particular restricted puOSeS within the objects of the charity. Restrictions arise when sp¢cified by th¢ donor or when funds are raised for particular restricted purpos¢s. Further explanation of the nature and purpose of each fimd is included in the notes to the fjnancial statements. OTHER TRADING ACTIVITIES 2024 2023 FundTaising events 1,812 1,000 Page 8 ntinued...
JUBILEE FIELDS COMMUNITY ASSOCIATION Notes to the Financial Statements - Continued ror tb¢ year ended 31 January 2024 INVESTMENT INCOME 2024 2023 Deposit account interest 112 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Funding for salaries and centre costs Funding for salaries and centre costs Incom¢ from activities Grants 37,310 88,106 44,734 33,096 125,416 77,830 Grants received, included in the above, are as follows: 2024 2023 Durham County Council Wood PLC Pioneering Care Partnership Mears Foundation Durham County Action County Durham Sport Bishop Auckland & Shildon AAP The Frank & Phillis S¢otto Trust Fund Livin - Conllnunity Regeneration Fund Rothley Trust Shildon TowTr Council County Durham Community Foundation PPG Colourful Communities Barclays Barbour Foundation Sir James Knott National Lottery Community Fund Northern Powergrid Foundation 3,805 240 250 7,005 2,146 2,700 3,406 1,599 10,000 3,700 800 1,250 500 loo 3,320 2,000 I,ioo 6,976 36,030 1,000 2,0(N) 5,0(M) 6,500 19,775 88,106 33,096 CHARITABLE ACTIVITIES COSTS Direct Costs Support costs Totals Funding for salaries and centre costs 65,762 60,747 126,509 Page 9 continued...
JUBILEE FIELDS COMlItUNITY ASSOCIATION Notes to the Financlal Statements - Continued for the year ended 31 Jydnuary 2024 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargIn(crediting). 2024 2023 Depreciation- owned assets 11,672 11,423 TRUSTEES, REMUNERATIOIY AIW BENEFITS There were no tLUStees' remunerdtion or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023. Trustees, expenses There were no 31 January 2023. trnstees, expenses paid for the year ended 31 January 2024 nor for the year ended STAFF COSTS 2024 2023 Wages and salaries 32?02 26,585 32J02 26,585 The average monthly nurnber of employees during the year was as follows: 2024 2023 Management and administrdlion No employees received emoluments in excess of £60,000. COMPARA TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund5 Restricted fund Total fidS INCOME AND ENDOWMENTS FROM Charitable aetivities Funding for salaries and centre costs 44,734 33,096 77.830 Otber trading activities Investment income 1,000 1,000 Total 44,745 34,096 78,841 EXPENDITURE ON Charitable activities Funding for salaries and centre costs 60,485 37,360 97.845 NET INCOMEI(EXPENDITURE) Transfers between funds (15,740) (3,155) (3.264) 3,155 (19,004) Net movement in funds (18,895) (109) (19,004) Page 10 ntinue(L..
JUBILEE FIELDS COMMUNITY ASSOCIATION Notes to the Financial Statements- continued ror the year ended 31 January 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds fimd To] funds RECONCILIATION OF FUNDS Total fimds brought fonvard 415,128 26.206 441,334 TOTAL FUNDS CARIUED FORWARD 396,233 26,097 422.330 io. TANGIBLE FIXED ASSETS FiXtteS Freehold property Plant and machinery fittings Totals COST At l FebrLWy 2023 Additions 571,141 8,847 579.988 19,775 19,775 At 31 January 2024 571,141 19,775 8,847 599,763 DEPRECIATION At l February 2023 Charge for year 200,028 11,423 8846 20&874 11,672 249 At 31 January 2024 211,451 249 8,846 220J46 NET BOOK VALUE At 31 January 2024 359,690 19,526 379217 At 31 January 2023 371.113 371.114 ii. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors Prepayments and accrued income 3,732 1,801 3,732 1,801 Pagell ontinued...
JUBILEE FIELDS COIIffiIUNITY ASSOCIATION Notes to the Financial Statements - conlinued for the year ellded 31 January 2024 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Ac¢rned expenses 1,590 1,137 13. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.1.24 At 1.2.23 Unrestricled funds General fijnd Designated 25,120 371,113 (23J24) 11,672 8,103 13,468 379216 396,233 (23J24) 19,775 392,684 Restricted funds Restricted 26,1197 24,155 (19,775) 30,477 TOTAL FUNDS 422,330 831 423,161 Net movement in fund4 included in the above are as follows: Incoffting resources Resources expended Movement in fimds Unrestrieled funds General fund 37,423 (60,747) {23,324) Restricted funds Restricted 89,917 (65,762) 24,155 TOTAL FUNDS 127?40 (126,509) 831 Comparatives for movement in funds Net movement in funds Transfers At 31.1.23 At 1.2.22 fimds Unrestricted funds General fund DeSiated 32,591 382,537 (15,740) 8,269 (11,424) 25,120 37l,113 415.128 (15,740) (3,155) 396.233 Restricted funds Restricted 26,206 (3.264) 3,155 26,097 TOTAL FUIYDS 441,334 (19,004} 422,330 Page 12 continued...
JUBILEE FIELDS COMMUNITY ASSOCIATION Notes to the Financial Stalements - eontinued for the year ended 31 January 2024 13. MOVEMENT IIY FUNDS - eontinued Comparative net movement in funds, included in the above are &s follows: Incoming resources Resources expended Mov¢ment in funds Unrestrieted funds General fund 44,745 (60,485} (15,740) Restricted fund5 Restricted 34,096 (37,360) (3264) TOTAL FUNDS 78,841 (97,845) (19,004) A ¢llent year 12 month5 and prior year 12 rnonths combined position is as follows.. Net movement in funds TTansfers between funds At 31.1.24 At 1.2.22 UDttstricted funds General fimd Designated 32,591 382,537 (39,064) 19,941 (3,321) 13,468 379,216 415,128 {39,064) 16,620 392,684 Restricted funds Restricted 26,206 20,891 (16,620) 30,477 TOTAL FUNDS 441,334 (18,173) 423,161 A current year 12 months and prior year 12 months combined net movement in fimds, included in the above aTe as follows: Incoming resources ResouTces expended Movement in funds Unrestricted funds General fid 82,168 (121,232) (39.064) Restricted funds Restricted 124,013 (103,122) 20.891 TOTAL FUNDS 206,181 (224,354) (18.173) Transfers between funds Ca ital Grant for urchase of Solar Panels During the year the Charity received a Capital Grant from Northern Powergrid Foundation in the sum of £19.775 for the purchase and installation of Solar Panels. The Solar Panels were purchased during the year and therefore the restricted fund has been transferred to iinrestricted (designated) funds. Page 13 continued...
JUBILEE FIELDS COMMUNITY ASSOCIATION Notes to the Financial Statements - continued for the year ended 31 Januv4ry 2024 14. RELATED PARTY DISCLOSURES During the year, the directors and trustees of the charity hired out the community centr¢ to other organisatlODS with which they were also associated. The facilty was made available on the satne tern)s as are availabl¢ to third party organisations. Page 14