Chartty reglstratlon number 1110317 Company reglstratlon number 05193577 {England and Wales) FRIAR PARK MILLENNIUM CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FRIAR PARK MILLENNIUM CENTRE LEGALAND ADMINISTRATIVE INFORMATION Trustees Llnda Matthews {Chalr and Treasurer) SSmon Hackett A Ledbury V Walton Secretary Julle Jones Charlty number 1110317 Company number 05193577 Reglstered office Frlar Park Road Wednesbury West Mldlands WS10 OJS Independent oxamlner Neal and Co Business Servlces Llmlted Shakespeare Buildings 26 Cradley Road Cradley Heath West Mldlands B64 6AG Bankers Lloyds Bank plc P.0. Box 46 The Bridge Walsall West Mldlands WS11LU
FRIAR PARK MILLENNIUM CENTRE CONTENTS Page Trustees, report Statement of trustees, re8ponslbllStles Independent examinerfs report Statement of financlal acilvltles Balance Bheet Notes to the financial statoments 10-15
FRIAR PARK MILLENNIUM CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Th8 twstees present their annual Teport and financlaj statements for the year endad 31 March 2024. Th8 accounts have been prepared In accordance wilh the accountlng pollcies set out in not8 1 to the accounts and comply with the charity's Memorandum and Artic18s of Association, the Companles Act 2006 and 'Accounllng and R6POrtlng by Charlties: Stalement of Recommended Practice appllcable to charitie8 preparing their accounts In accord8nce wilh the Financld R8portlng Standard appllcable In the UK and Republlc of Ireland (FRS 102). (a8 amended for accountlng perfod5 commencing from 1 January 2016) Objectlves and actlvltles The mlsslon statement of Friar Park Mlllennlum Centre is 'To work wlth partners to Smprove the quality of Ilfe for all who live and work In Frlar Park" Our Vlslon for the Friar Park Ward Is to create a place that Is safe. sustalnable and cohesive, where people are happy to live and exp8rlence positive outcomes with regards to education, health, employment and prosperity. The prfncipal acuvlty of the charity Is to act as a local community hub organlsation, co- ordinating nelghbourhood communlty action through the delivery of an annual programme of communlty activities. Friar Paik Mlllennlum Centre alms to be responslve to th8 changlng needs of the community through ongolng consultalions, informed research and by Sdoptlng a communlty development approach to all of Its work. Innovative solutlons are sought through dlscusslon with local people, partn&rs and funding agendes to create a portfolio of pioJ8Cts deslgned at provldlng activities and services to address the onoIng soclal dlsadvantages faced by the community. The Board has set the followlng objectives: . To provlda an annual programme of actlvltSes for the elderly and dls8bled to h8lp overcoma Isolatlon and to avold becoming housebound and lonely. To provide an annual programme of Communlty actlvllles to help meet the social and emotlonal needs of at-rlsk chlldren and young peopla Ilvlng in familles with low incomes, on or below the poverty Ilne. To work towards improvlng the Health and Fitness levels of th08e mosl at rfsk of111-health from preventable dl8ease8 a.g. obesity; dlabetes and heart related dlsease. Iv Ib8ln To improve opportunlties for local people to gain vocatlonal skllls, experlence and training through volunteerlng andl or employment. To access help and infomiatton regarding welfare and beneffts. To offer people the opportunlty to access educatlonal activitles and become local community champlons and leaders. To expand the involvement of local people in Ihe development of an Interaclive, mUltmedIa. ward-bas Communication strategy whlch better informs the wider communlty about local soNlces and empowers them by providing them wlth a v¢lce to express thelr concems and vlews. Ente To d8velop and implement an income generatlng strategy that wlll provide 8uffiGlent Incoma to support a full communlty development programme as outlined In the vlslon statement. To develop a programme of large annual community events whlch provides the opportunily to brlng the whole community together and as81sts in the davolopment of community coheslon and neighbourhood Identity.
FRIAR PARK MILLENNIUM CENTRE TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Who has benefitsd from our Annual Plan of Communlty Actfvitles In 2023 - 20247 Our beneficiaries are the wider communfty of the 5000 homes and businesses of the Friar Park ward who live andlor work In the three nelghbourhoodslestates of Frlar Park, Mesty Croft, Woods (approxlmately 11000 people). We belleve the whole communlty of the ward have benefiled both dSrectly and indirecuy from the Communlty Actlvltles programme, enhanced communlty cohesion and improved levels of social matutity and responslblllty, whlch have led to a reductlon in antisocial behavlour. However, our primary beneficlaries have been those vulnerable members of the communlty who are willlng and able to take part In c8ntre-based activitl8s and projects. These continue to Include at-rfsk chlldrenlyoung people from famllles living below the poverty Ilne; potentially isolated elderly and disabled Indlvlduals who would b8 housebound; and other adults 8t rlsk of ill health whlch Include Alzheimer'slstroke victims and those who are physically Inactlvelob8SQ. The communSty centre it set to be expanded in 2024 due to 613 houses belng bullt on the back of the ntr8. tles ob ObjectSve 1: Elderly & Disabilty We provlde a portfolio of communlty projectslactlvities which engage wlth local eldarly (aged 65+ years) and dlsabled people on a weekly basis to meet their soclal and emotional needs. Currently includlng 5 day and 1 evenlng opportunttles to meet wlth both new and old friends, Includlng Communlty transport door to door servlce. Activities include Frlendship Group, Over 608 club and Evening bingo sessSons..There also a knit and natter group runnlng once a week and 8 pl8ce of welcome on Friday momlng there a total of over 100 local people altend Chrlstmas lunch and hampers for 100 famille5. Objectlve 2.. Children & Young people We host and provlde a range of weekly activities for chlldren (aged 5-12 years) and young people (aged 13-18 years). Thls currently indudes 3 sesslons after school and weekends supported 2 Youth Club leam through play Sessions for Young People, 6 sport and dance sessSons for youth. There have been 300 partlclpants and actlvltles Include Junior Youth club, Street dance, Gymnastics, Group and Freestyle dance,all and half t&rm actIvIe$ includlng hollday actlvitles and food. over 100+ young people attend the hcllday actlvlty clubs We are also provldlng a weekly youih club for 13-18yrs. Sandwell alr scoul5 817 contlnue to provlde sessions for young people and have proved to be extremely popular wlth 8 member8hlp of 80-100 young people. Obleclive 3: Healthy Ilvlng & Sport8 development The centre h8s develop8d a health and fitness programme wlth local parthers to address the chronlc lack of actlve partlclpation In sports and exerclse In the ward. Sesslons Include Fit Lab Gym, Zumba, Chair Yoga,.The freestyle football who runs once a week and also Invltes people from around th8 world to take part The centra also holds weekly table tennls se55ions.Local blke ride8 and the dally mlla during half term. TheBe sesslons often sttract over 200 partlcipants per week. Obleclive 4.. Economic well belng Volunteering and part-tlme employm8nt of local people within the centre Include, Project management, Site management, Administratlveloffice work, Play work. Youth work, Communlty outreach, Befriendlng, Mentionlng. Sports 18adershlp, Event management, Catering, Advice and guldance, and Fund-ralslng. This year, we have facilltated work placernenls for 4 dlfferent local high Schools in Sandwell. The learnlng objectives for the work placement Includes improving skllls. knowledge, and deep und8rstandlng of financlal development of a company. Th8 cèntre works with 12 local volunteers to help them galn vocatSonal skills and experfence.
FRIAR PARK MILLENNIUM CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ObJ8Ctlve 5: Educatlon & learning Llttle legends have been based at the centre slnc8 2014 and is a welkrun preschool with 5 staff and currently 40 chlldren offerlng early years educatlon.The centre also supports one to one teachlng and fern education use the centre 3 days a week to support chlldren and young people who struggle at school, Tha cantre hosts local councilor Surgeries providing local commun5ty champlons With a Vol to expr8ss thelr concerns and views for the ward. Objective 6: Social Enterprise As well as the Servlce Level Agreement funding provlded by Sandwell Metropolitan Borough Councll and rental Income from anchor tenants and servlce users, the centre is ccnstantly looklng at ways to generate Income and fund new projects. We currently generate Income by rentlng out car park space to a local company to house storage containers and have a monthly income for housing the C.C.T.V. equlpment for the estate. Objective 7,. Social Coheslon In shaplng our oblectiveB for the year and plannlng our activities. the trustees have consldered the Charlty Commlsslon's guldanca on publlc benefit, including the guldanc& 'publlc benefit: running a charlly IPB2}'. Th8 centre relie8 on grants and the Incom8 from rental to cover its operating costs. Our anchor tenant provldeg free nursery provlslon for local parents (Little Legends). Affordablllty and acce8S to our programmes 18 important to US and is reflected In our prlclng policy where aclivilie8 for young peopl& ara free of charge and room hlre for the weekly clubs and 8POrts aGtivitles are easlly affordable. We endeavor to encourage 811 withln our communty to take part In our actlvities and to attend our community events and fun days. W& have provlded Sports Sessions for girls from dlfferent ethnlc backgrounds whlch has enabled them to try new sessions and meet new frlends. Centre staff and trustees have worked hard to decorala th& centre and we are now openlng Ihe centre for partles and communlty booklngs. Most of our trustees, actlvlly leaders, volunteer8 and members ar8 from the loca] communlty and are people who have a passlon to see the Friar Park Ward and Its people grow and flourlsh. Achlevements and perfomlance The tnJstee5 are dellghted to report that the FPMC has continued to grow both fin8nclally and in impact on the Ilve6 of local people. We are grateful to our regular 6eNlce users who have conunued to use the Gentre. There have also been several posIVe achievements for the organ15ation in 2023124. We have contlnued to work together In parthershlp wlth over 30 local groups and external agencles to provlde a wlde range of communlty actlvlt18s. Of note, remains our work with children which continues to Ilourish (Objective 2). Tha centre continues to employed two Community D8velopm8nt Offlcers who have been looklng for funding opportunltl8s to extend the range of actlvitles and provisions that are available for resldeni3 and partners. We have continued to receive grants to help fund the actlvjtles Frlar Park Mlllennlum Centre runs. There 8r8 630 houses being built at the back of the Frlar Park Communlty centre the Community came to us to say they were worried and upset that when the houses are built there will be no room for the excltlng community actlvltles. We became their voice and after a number of meetings at the town hall we have been granted £2 million pound of the level up grant to have 8 community cafe at the front of the tre and a new events space on the back with a blg communlty kltchen where the communlty can learn to cook.
FRIAR PARK MILLENNIUM CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARGH 2024 Flnanclal revlew Income of £78,930 was recelved In the year through the sublettlng of rooms within the centre. Grants totalllng £327,082 were recelved from varlous funder5 during the year for work cn speclflc projects within the cgntre and local communlty, An additlonal £689 was ralsed from events belng held, whld) Is to be reinvested In local groupB. Funding includes the S8rvic8 Level Agreement from Sandwell MBC to aid Btaffjng and Tunnlng costs. Restrlcted grants are coverad In more delall In note l O of these accounts. The organlsatlon has malrrtalned an acceptable level of reserves. At the end of 2023124, £121,234 has been carried forward in unrestrict8d reserves and a balanc& ram8lns on restricted funds of £30,950 to be spent in the comlng fin8nclal year. Reserve8 Pollcy It Is the pollcy of the charity that unrestricted funds whlch have not been deslgnated for a 8peclfic use should be maintained at a level equivalent to b81w8en thr88 and six rnonth's expenditure. Th8 truste8s conslder that reserve8 at thls level wlll ensura that, In the event of a slgnificant drop in funding, they will be able to continue the charsty's Current activities while consideration is given to ways In whlch addltlonal funds may be raised. Rlgk Factor8 To ensure that the organisalion Is mcre protecied from fraud the trustees contlnue to Implement the followlng recommendatlons and changes; 1. All financlal Issu&s, problems or concerns must be reported to the treasurer and board the same day and as quickly as possible. Any su8plcious telephone calls must be dlscussed with Ihe treasurer before any action Is taken. All staff and volunteers are aware of fraud and the methods used to steal money. 2. The bank account balance must ba checked dally Mon- Frt vla bank text alerts. 3. Two people to authorls6 Internat banklng, same as 81gning cheques. 4. Increage monthly renlal Incoma by offerlng more space to current tenanl8. structure• governance and management The charity is a company limited by guarantee and a registered charity. The govemlng document of the organSsatlon 18 th8 M8morandum and Artlcles of Assoclatlon. The body responslble for the management of the Charlty Is the Board of Trustees. The trusteas ar8 also dlrectors for the purpose of company law. Recrultment and appointment of members of the board of truslaes Is In accordance with the provlslons contained in Memorandum and Artlclas of Assoclatlon. Nong of the twstees has ary beneficlal Interest In the company. All of the trustees are members of the company and guarantee to contrlbLrte £10 In the event of a winding up. The trustees, who are also the dlreclors for the purpose of company law, and who served during th8year and up to the date of signature of the financial statements were: Llnda Matthews (Chalr and Treasurer) Slmon Hackelt E Wnstanlay A Ledbury V Vvalton (Reslgned 28 July 2023) Appolntment of trustees The charity Is organlsed so that the trustee directors meet regularly to manage Its affalrs (at least quarterly). The composition of the Board consists of not less than three dlrectors bLrt with no maximum. Membershlp Is open to Indlviduals who apply to the Charity in the form required by the dlrectors and are approved by the directors. A quorum of members for general meetings Is 10 or one tenth of the total membershlp If greater. Every member has one vote.
FRIAR PARK MILLENNIUM CENTRE TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trustee inductlon and trainlng Each new trustee has access to the Brd membeTS induction pack. TtU5 (x)ntaTns comprehansive reference matorial about the organlsation and its hlstory. It Includes copies of tha Memorandum and Articles ofAssoclaUon. all previous annual reports and business plans. poliw dotxfflents and procedures, copies of fflinutès of meetlngs, O)Pi8s of the newsletteKs and a guid8fines report on Yhe role of Dlreclorffruslee of Friar Park Millennlum Cenlre.. In additson to the Indudion. the Intslees undergo project specific frdining. Relallon5hlp wlth relatsd partles The chatity Is not cornected lo any other ch8rity or business Statemgnt as to dlsclosure to our Independent ¢xamlner In 50 far as the trustees are aware at th8 lime of ApprovJng ourtrustees. annu81 rew)rt: there Is no relevant Inf0mtiOn, being Infom)atton neede(I by the Independent revtewer In connectlon with preparing their report, of which the reviewer is unaware. and the truslees, having made enquiries of fellow dtrectors and the group's r8vlewer that they ought to have individually taken. have each tsken all steps that hElshe is obllged to take as a dtractor in Lyrd8r to make Ihemsefves awa of any rBl8%wit audit infonnation and to eslablish that lh8 reviewar is ayrare of that infomiation. Th? Intea8, report was approvad by the Board of Truste8S. Unda Matthews (Chalr and Treasurer) Trustea S Dacember 2024
FRIAR PARK MILLENNIUM CENTRE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees. who are also the dlrectors of Friar Park Millennlum Centre for the purpose of company law. ar8 responslble for preparlng the Tru5lees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Unlted Klngdom Generally Accepted Accounung Practice). Company Law requlres the trustees to prepare financlal statements for each financlal year which give a tw8 and fair view of the stat8 of affalrs of the charity and of the incomlng resources and application of resources, Including tha Income and expenditure, of the charilable comp8ny for that year. In preparing these financial statements. the trustees are required to: - select sultable accounting policie8 and th&n apply them consistently; - observe the methods and prlnclples In the Charities SORP; - make Judgements and estimates that ara reasonable and prudent; state whether appllcable UK Accounting Standards have been followed, subject to any matarlal departure8 dlsclosed and explalned in the financlal statements; and prepare th8 financial statements on the going concem basls unless It is inapproprlate to presume that the charity will continue In operatlon. The truslees are responslble for keeplng adequate accountlng records that dSsclose wlth reasonable accuracy at any time the finandal posltlon of the charlty and enable them to ensure that the financial statèments comply with the Companles Act 2006. They are also responsible for safeguardlng the asBets of the charity and henc8 for taking reasonable steps for the preventlon and d8tectlon of fraud and other irr8gularltles.
FRIAR PARK MILLENNIUM CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FRIAR PARK MILLENNIUM CENTRE I report on the Ilnancfal statements of the tharity forthe yvar ended 31 March 2024, whlch alp 3et out on pages 8 to 15. Respectlve responslbllltles ol trusto•s and examlner The charivs Irustees. who aro also the ditOrS of FTiar Park Millennium Cer0 for Ihe PUTposes OF company law. aro respons1 Ie lor the preparation of Ihe fillanclal statements. Th8 Irustees consider that an audit is nol required for thls year under secllon 144(2) of th8 Ctwllles Act 2011 (the 2011 Act) and that an Independent examln8tlon Is ne8ded. The charlws gross Income exceeded £250,000 and l am quallfied to undertake Ihe examlnabon belng a quabfied member of Chartered Certlfted Accountants. Having satisfied myseir that Ihe charity Is not subjecl to audll under ryjmpany law and Is 9Ible for Independent examhiatlon. it is my responslblllty io." (l) examine the firiancld statsm8nls under section 145 of th8 2011 ACL. (d) to folk)w the procedures lald down In the general Directlons glven by the Chartiy Commlsslon under sactlon 145(5){b) of the 2011 ACL. and (111) lo stste whether parUcaJlarmattep3 have come lo my attentlon. Basls of Indep•nd&nt oxamlneffs report My examination wa8 lad out in accordanc8 ryth the general Diredlon3 given by the Charity Commission. An 8x8mination Includes a raview of the accounting records kept by tha charity and a comparison of the financlal statements presented *ith those records. It also indudes rx>nsid8ration ofany unusual Items or dlsdosures in the Ilnancial statemenis, and seeklng explanations fmm you as truslees concemlng any such matlers. The prOdureS und8rlaken do not pro¥lde 811 the that would b8 requiTBd In an audit and (¥)nsequently no oplnion is given as to whether tho financlaj stsiements present a Irue and falr vithrf and thg report Is limlted to Ihose matters sel out in the next sialemenL Independent examln¢rf5 Statement In InneLlIon wllh my examlnation, no matter has come to my attenuon: (a) whlch glves me reasonable cause to believe thal In any malerl81 respect Ihe requirements". (i) lo keep acCoUntw records In accordan wlth section 386 of tho Ct)mpanlesAct 2006: and <11) lo p¥Epare accounts which accord with the accounling re(>Jrd8, mplY with the ac£ounting requlrements of seclion 396 of the Companle8 Ad 2006 and wlth th8 tnelhods and PTincrple8 of the Statement of Recommended Practi. Accounting and Report5ng by Charitie8: have nDI been met or (b) to whlch, in my apinlon. ettentton should be dralw) in order to enable 8 proper undars18nding of flnandal ststenwts lo be reached. I.C MARSH FCCA Charlered CertlfiedAccountanl Neal and Co Buslness SerVis Limlted Shakespeare Build5 26 Cradley Road CradIey Heath West Mldlands B64 6AG Dated: 5 December 2024
FRIAR PARK MILLENNIUM CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FRIAR PARK MILLENNIUM CENTRE I report on the financlal statements of the charfty for the year ended 31 March 2024, which are set out on pages 8 to 15. Respectlve responslbllltles of trustees and examlner The charitys trustees, who are also the dlreclors of Friar Park Mlllennlum Centre for the purposes of company law, are responslble for the preparatlon of the financial statements. The trustees cons]der that an audlt Is not requlred for thls year under sectlon 144(2) of the Charitles Act 2011 (the 2011 Act) and that an Ind8pendent examination Is needed. The charity's gross Income exceeded £250,000 and l am qualified to undertake the axamlnatlon belng a qualffied member of Chartered Certifi8d Accountant5. Having satlsfied myself that the charlty Is not subject to audit under company law and Is ellglble for independent &xamlnatlon, it is my responslblllty to: examlne the financial statements under Sectlon 145 of the 2011 Act; (11) to follow the procedur8s lald down In the ganeral Olrection8 glven by tha Charity Commlsslon under sectlon 145(5)(b) of the 2011 Act., and {111) to slate whether partlcular matter8 hava come to my attention. Basts of Independent examlnorfs report My examlnatlon was carried out In accordance with the general Dlrections given by th? Charity Commlsslon. An examinatlon Includes a review of the accountlng records kept by the charity and a comparlson of the fEnanclal statements presented with those records. It also Includes consideration of any unusual items or dlsdosures in the finandal statement8, and seeklng explanallons from you a8 trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required In an audit and consequently no oplnlon Is glven as to whether the financial statements present a 'tsue and falr vlew, and the report is litnll8d to those matters set out In the next ststement, Independent examlner's statement In connectlon with my examlnation, no matter has come to my attenllon: (a) whlth glves me reasonable caus& to belleve that in any materfal respect the requirements: (l) to keep accounting r8cords In accordance with sectton 386 of the Companles Act 2008; and (li) to prepare accounts whlch accord with the accountlng records, comply with the accountlng requirements of sectlon 396 of the Companles Act 2006 and wtth the methods and prfnciples of the Statement of Recommended Practice: Accountlng and Reporting by Charltles; hav6 not been met or (b) to which. In my oplnlon, attention should be drawn in order to enable a proper understandlng of tk financl81 statgments to be reached. I.C MARSH FCCA Chartered Certified Accountant Neal and Co Busln8ss Servlces Llmited Shakespeare Buildlngs 26 Cradley Road Cradley Healh West Midlands B64 6AG Dated: 5 December 2024
FRIAR PARK MILLENNIUM CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrfcted Restrlctad funds funds 2024 2024 Total Unrestrfcted Restrl¢ted funds funds 2023 2023 Total 2024 2023 Notss Grants recelv8bla Other tradlng activities Income from charitable trading activities 689 327,082 327,771 5,000 249,948 1,679 254,948 1,879 79,096 99 79,195 42,372 1,016 43,388 Total Income 79,785 327,181 408,966 47,372 252,641 300,013 Charitsble actlvltles 44,802 322,618 367,420 56,718 279,235 335,953 Net Incomlngl{outgolng) r•gourco8 before transfer8 34.983 4,563 39,546 (9.346) (28,594) {35,940) Gro88 transfers betsveen funds 26,830 (26,830) 3,402 (3,402) Net Incomel(expendlture) for th8 yearl Net movement In funds 61,813 {22,267) 39,546 (5,944) (29,996) (35,940) Fund balances at 1 Aprll 2023 59,421 53,217 112,638 65,365 83,213 148.578 Fund balances at 31 March 2024 121,234 30,950 152.184 59,421 53,217 112,638 The statement of flnanclal aciivltles Includes all galns and losses recognised In the year. All Income and expenditure derive from contlnulng activities. The statement of financial actlvitles also complies with lh8 requlrements for an Income and expenditure account under tha Companies Act 2006.
FRIAR PARK MILLENNIUM CENTRE BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Current assets Debt Cash at bank and in hand 17.832 148,565 2,579 125,337 166.397 127,916 Crnditorn: amounts fallkng duo withln one year (14.213) (15.278) Nel cuwent assels 152,184 112.638 Incomé funds Restricted funds Unrestiicied funds io 30,950 121.234 53,217 59,421 152,184 112,638 The company is entlued to the exemption from tho aLKlil requiremenl CAlaIned In saction 4T1 of Iho Compaftles Act 2006. for Ihe yaar end8d 31 Marth 2024. The dlrectors acknow18dge their responsibillttes for complylng wilh the requiremenls of the Companies Act 2006 Mrilh r8speci to aLxy)unting reconjs and the prEpaTrtlon of financlal statements. The members have not requlred the company to oblth an audlt ol Ils finandal statemenls for the year In questlon In ac(X)nIan wlth sectlon 476. Thesa faral slatemenis have been prepared th accordanr* the provisions 8pplcabl8 to companl8s subject to the small mpanIeS reginw. Th8 fin8nclal statements were approved by the Trustees on 5 December 2024 Lirxla Mauhews {Chalr and Treasurer) Trustee ConTpany reglslratlon number 05193577
FRIAR PARK MILLENNIUM CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Char]ty Informatlon Friar Park Mlllennlum Centre Is a prlvate MpanY Ilmlted by guarantee Incorporated In England and Wales. The registered office is Friar Park Road, Wednesbury, West Midlands, WS10 OJS. 1.1 Accountlng conventlon The financlal ststements have been prepared In 8ccordance with the charitys [goveming document], the Comp8nie8 Act 2006, FRS 102 Yhe Financial Reporting Standard applicabl& in the UK and Republlc ol Ireland. (°FRS 102.) and the Charitles SORP "Accounting and Reporting by Charitles,. Statement ol Recommended Practice applicable to charlt188 pr8parlng thelr accounts In accordance with the Financlal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102)" (effective 1 January 2019). The charily is a Publlc Benefit Entlty as defined by FRS 102. The charliy has taken advantag& of the provlslons In the SORP for charftles not to prepare a Statemant ot Cash Flows. The flnanclal statements ar8 pr8pared In ster15ng. whlch Is the funcilonal currency of the charity. Monatary amounts in these financlal statements are rounded to the neare8t £. The financlal statements have been prepared under the hlstorlcal cost conventlon, [modlfled to Includa tha revaluatlon of freehold propertles and to Include Investment properties and certain financial Instruments at falr V81ue]. The prfncipal accounting policies adopted are set out below. 1.2 Golng concem At tha tlme of approvlng the financlal statements, the trustee8 have a reasonable expeciatlon that th& charlty has adequate resources to ccntlnue In operational exlstence for the foreseeable future. Thus the trustees contlnue to adopt the going concem basis of accounting in preparing the financial stataments. 1.3 Charltable fund8 Unrestrlcted funds are available for u8e at the discretion of the trustees in furtherance of thelr charltabla objectives. Restrlcted funds are subject to Specific condltlons by donors as to how they may be used. Tha purp)seg and uses of the restricted funds are set out In the notes to the financial statements. Endomnent funds are subject to speclfic condStlons by donors that Ihe capital must be maintained by the charity. 1.4 Incomlng resources Income is recognised when thg charity is legally entilled to it after any performance condlllons have been met, the amounts can be measured reliably, 8nd It Is probable that income will be recelved. Cash donations are recognlsed on recelpt. Other donatlons are recognlsed once tha charity has been notified of the donatlon, unless performanc& condltlons require deferral of the amount. Income tax recoverable in relatlon to donations recelved under GIftAid or deeds of covenant Is recognised at the time of the donation. Legacies are recognlsed on recelpt or otherwlse rf the charlty has been nollfied of an impending di5trtbution, the amount is known, and recelpt Is expected. 11 the amount Is not known, the legacy 15 treated as a contlngent asset. 10-
FRIAR PARK MILLENNIUM CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢countlng pollcles (Contlnued) 1.6 Resources expanded Expendlture Is recognlsed as and when incurred. Resources expanded on charltable activities Indud8 all costs Incurred in the pursult of the charitable objects of the charity. 1.6 Tanglble flxed a&8ets Tanglble fixed a&sets are initially measured at cost and subsequently measured at cost or valuatlon, net of depr8clatlon and any Impalnnent losses. Depreciation is recognlsed so as to write off the cost or valuatlon of assets less their resldual values over their useful lives on th8 followlng bases.. Plant and machinery 25% stralght Ilne basis The galn or loss arlsing on the dlspos81 ol an asset is detemilned as the dlfference bebNeen the le proceeds and the carrylng value of the asset, and Is recognlsed In the statement of financ181 activiti88. 1.7 Cash and cash equlvalents Cash and cash equlvalents Include cash In hand, deposits held at call wlth banks, other short-temi liquid Investments wilh original rnaturitles of three months or less, and bank overdrafts. Bank overdrafts ara shown wlthln borrowings in current Ilabllltles. 1.8 Flnanclal Instrumonts The following assets and Ilabllltles are classlfi&d as financlal Instruments- trada debtor8 and trade credltor6. Trade debtors and trade creditor8 are measured at the undlscounted amount of cash or other conslderatlon expecled to be paid or recelved. 1.9 Employe8 benefits Temiination benefits are recognlsed immediately as an expense when the charity Is demonstrably commftled to termlnate the employment of an employea or to provide temiination beneffts, 1.10 Retlrement beneflts Payments to defined contribution retlrement benefit schemes are charged as an expense as they fall due. Grants recelvable Unrestrlcted Restrlcted funds funds Total Unrestricted Restrjcted funds funds Total 2024 2024 2024 2023 2023 2023 Donations and gifts Grants recelvable for cor8 activities 689 3,563 4,252 323.519 323.519 5,000 249,946 254,946 68g 327.082 327,771 5,000 249.946 254,946 11
FRIAR PARK MILLENNIUM CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other tradlng actlvltlos Total R8Strlcted funds 2024 2023 Fundralslng events 1.679 In¢ome from charftable tradlng actlvltles Unre5tr1cted Restrlcted funds funds Total Unr8Strfct8d Restricted funds funds Total 2024 2024 2024 2023 2023 2023 Rental Income Interest recelvable 78,930 99 79,029 166 42,372 1,018 43,388 79,096 99 79.195 42,372 1,016 43,388 Charltable actlvltles 2024 2023 Staff costs Provlslon of recreatlonal and lelsure faGilitie5 247,953 119,467 202,281 133.692 367,420 335,953 367,420 335,953 Trnste88 None of the trustees (or any persons connected wlth them) reIVed any remuneratlon during the year for thelr dutles on the Board. Employees The average monthly number of employees during the year was.. 2024 Numb8r 2023 Numb8r 10 12 12-
FRIAR PARK MILLENNIUM CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees {Contlnued) Employmont costs 2024 2023 Wages and salaries Social security costs Olher penslon costs 228,387 13.98Q 5,577 189,504 8.381 4,376 247,953 202,261 There were no employees whose annual remuneratlon was more than £60,000. Debtors 2024 2023 Amounts falllng due wlthln one year: Trade debtor5 Prepayments and accrued income 16,751 1,081 1,355 1,224 17,832 2,579 Credltors: amounts falllng due wlthln one year 2024 2023 Other taxallon and 80cial securty other creditors Accruals and deferred inGome 8,690 1,240 6,283 8,807 741 5,730 14,213 15,278 13-
FRIAR PARK MILLENNIUM CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Re8trlcted funds The income funds of the charity Include restricted fvnds comprising the following unexpended balances of donations and grants held on trust for specific purposes: Movement In funds Balance at Incomlng Resources Aprll 2023 resources expended Transfors Balance at 31 March 2024 Sanoknll MBC- Centre Managemenvstaffing Costs Big Lottery SMBC -HAF's Know Your Nelghbourhood Cost of Living Dwgs and Alcohol Saturday Sports Perslan Homes Park Development Blkeablllty Leaming through Play Olhgr restricted funds 41,507 74.952 58,752 23,920 54,845 9,460 (41,507) (75,941) (54,588) (23,114) (55,229) (8.919) {6,282) 4,934 10,222 1,811 (3,500) (737) (.1,500) 384 445 13,649 1,117 541 8,530 (248) 5,000 5,000 1,561 3,577 (2,018) (5,059) (26,085) (23,878) 5,921 28,613 24,211 (882) (1,500) (18,867) 1,028 7,609 26,143 53,217 327,181 (322,818) 126,830) 30,950 Sandwell M8C - Centre managem8nVStafflng costs - Tha alm of this fund Is to assist In the d@Ilvery of communlty cenlre activi08. It Is used to contribute towards the salarles of site managament and It relates to Sep4lce Level Agreement (SLA) between Sandwell MBC and FrSar Park Millennlum Centre. Blg Lottery Communlty Connector- Thls grant which will run for over 3 y88rs, by provldlng events, such as Easter, Halloween and Chrlstmas, and providing year-round workshops, to help elevate sodal lsolatlon, Improve physical h8alth, and aid In mental health support. This grant Is targeted towards those wilh lower Income and those in poverty. The hop& wlth thls funding Is to help those most disadvantaged withln the community. HAF- This funding ran across multiple occ88ions throughout the year, almed at children 6-14 and in chlldren with special educatlonal needs up to 16 years old age. It was a chlld led event, where the Chlldren could set the programme and tallor It to their Interests, Such as arts and crafts, board games, group activit]8s. Breakfast was Included where chlldren could get Involved in cooklng. such as pancake making, and a hot lunch was given. We had an onslte sport coach. to encourage physlcal activity, and a daily mlle walk would ocr. The thildren where also taken off site to trlps and excurslons. whlch was fully fvnded by the grant, as well ss more local based trlps to the canals and parks. Know your Nelghbourhood - W8 SUPPOrt peopla with mental health Isolation lonellness taklng th8m on blke rides canal walks organizing famlly activity such as Family bakes. and Mothers day avent. Helplng Ihem with b8n8fit foms and C.V writing. We are also working in partnershlp with the doctors next door who are referring people to us which has helped us $8t up a chat and catch up and a nit and natter. We ara also In partnership with Cranston we support people with drug and 81cohol abuse. 14-
FRIAR PARK MILLENNIUM CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Restrlcted funds (Contlnued) Cost lfvlng- Support&d the communlty to come a long in th8 week for hot food a drinks through the wlnter. Weekend we would put on a Caery where 50 resldents and family members would come along and have a hot meal and drlnk Drug and Alcohol: Worklng alongslde Cranstoun who rents rooms from us 3 days a week. l+Ve offer support and chats do ref8rrals to Cranstoun offer local bike rides and communlty walks. Pultlng on a tea afternoon do tralnlng and supporting the communlty glvlng them a safe place to attend Saturday Sports This club runs every Saturday from 11am untll 12:45pm for children aged 6-12yeaTS, 'Sporty saturda as the chlldren call it. We do all a¢tSvltles from football, baskelball dodge ball, assault courses and mor&. Wa provida water and Julce for all- the project is to have a posttlve impact on th8 chlldren'slyoung peoples mental health and ensure that they are havlng access to stay physlcal prornotlng a healthy1Sfe style. 11 Anaty8ls of net assets between funds Unr6strl¢tsd Restrlctod funds funds 2024 2024 Total Unrestricted Restrtcted funds funds 2023 2023 Tot81 2024 2023 Fund balances at 31 March 2024 are represented by: Current as8etsl(IlabllitieB) 121,234 30,950 152,184 59,421 53,217 112,638 121,234 30,950 152,184 59,421 53,217 112,638 15-