PRUDHOE COMMUNITY PARTNERSHIP REPORT OF THE TRUSTEES ST FOR THE YEAR ENDING 31 MARCH 2024 Cliarity Name: Prudhoe Community Partnership Charlty Reglstratlon Numbor: 1113927 Coiiipaiiy Reglstratloii Number: 5757621 Reglstered Offlce and operatlonal address: Spetchells Centre 58 Front Street, Prudhoe, Northumberland NE42 SAA Website '. www. rudhoe.or Facebook.. www.facebook.comls Twitter IX). @prudhoecp etchellscentre Triistees: Caroline Warburton Paul Murray (re-elected July 2022) Chair of Trustees IApril 20211 (re-elected July 2022) Deputy Chair (July 20211 Brenda Grey Paul Hillary Dr Steven Quilliam Jlidilh Savage Dr Carol Stephenson lain Watt (re-elected July 20221 (elected April 2023) {re-elected July 2023) (elected April 2023) (elected April 2023) (re-elected July 2023) Angle Scott Dorothy Dickinson Northumberland County Council County Councillor Prudhoe Town Council representative Rotlred TriTSteos: Vesta Moore - retired autumn 2023 Conii)any Secretaiy: Gail Jewitt In(lei)eii(leiil Examlner: Dig ital Accountancy Spetchells Cei)Ire, 58 Front Street, Prudhoe Norlhumberland, NE42 SAA Bankers: Unity Trust Bank Nine Brindleyplace Birmingham, B12HB Sollcltors: Caris Robson LLP 7 Front Street Prudhoe, NE42 5HJ Page I
PRUDHOE COMMUNITY PARTNERSHIP REPORT OF THE TRUSTEES ST FOR THE YEAR ENDING 31 MARCH 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 ended 31 sl March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities, Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the U K and Republic of Ireland IFRS102) {effective 1 $1 January 20191 OBJECTIVES AND ACTIVITIES Objectives ancl Alms The Partnership's purpose as set out in the objects contained in the company's Memorandum of Association are lo promote, for public benefit, urban and rural regeneration in areas of social and economic deprivation - in particular the community of Prudhoe and district in the county of Norlhumberland. The Partnership currently interprets this 8s "m8king Priidhoe 8 betterplaco to live and work" and engages in several activities to fulfil Ihis aim. Publlc Beiieflt Trustees are aware of their duty to have a due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. In meeting their purpose 'to make Prudhoe a better place to live and work, they record activities that provide public benefit in the current year below. As examples of meeting the public benefit requirement, trustees especially note the provision of facilities for the public in Spelchells Centre and the proposed redevelopment of East Centre for young people as well as a number of small and large projects, many of which are listed below. Slgnlflcaiit A¢tlvltlos During the year, the Partnership has been involved in the following projects.. Spetchells Centro The Partnership manages a piirpose-built community hub opened in 2012, which provides offices and facilities for a range of public, private and voluntary groups, and organisations. It houses Prudhoe Library, which is the core tenant. The Spetchells Centre provides wide ranging public benefit lo the people of Prudhoe by ensuring that advice and information services from Northumberland County Council, Prudhoe Town Council are readily available in the centre of town. The office5 were fully let throughout the year and tenants included Norlhiimbria Police, Norlhumberland County Council, Prudhoe Town Council, Barclays Bank plc, Digital Accountancy, Talking Matters, Prudhoe Youth Project, Mortal Fools and Ridgetek Web Solutions. The Spetchells Centre has been increasing ils occupancy and, al the end of March 2024, there was one office vacant. I n September 2021, the Partnership took on a 5-year lease of 61 Front Street, PrLidhoe, which is a small retail premises, lo turn il into Prudhoe Community Flub, providing a public face for PC P and to allow for wider community work. As with all commLinily-based projects, its development is organic as the space can be used al short notice for the needs of the local community. Page 2
PRUDHOE COMMUNITY PARTNERSHIP REPORT OF THE TRUSTEES ST FOR THE YEAR ENDING 31 MARCH 2024 East Contre The Partnership's work on developing a viable 'fit for purpose, Youth and Community Hub continue. A working party has made considerable progress ancl have engaged Mosedale Gillatt Architects architects.infol to work on the plans to bring the designs to RiBa3 level. Pre-planning application was successful and addition work on the plans continues. Application to Borderlands Government funding is being prepared ready for submission in June 2024. Priidhoe Pocket Park - Comniunity Orchard - Co-op Flower bod (Bee Bad) The Partnership continues to care for this community asset which is widely used by the community to meet and chat with family and friends. The Partnership is also working with Prudhoe Space for Nature to develop a Community Orchard and Garden as well as developing Bee Bed in the area outside the Coop Supermarket. The Community OrchardlGarden continues to thrive with plans to open to the PLtblic in autumn 2024. (Iv) Arts aijd Culture The Prudhoe Arts Festiv81 continues to grow and develop through 2023 and into 2024. The Arts Trail 2023 saw a significant rise in visitors to the town and Music By the Riverside was a great success despite the wet weather. Plans to develop both aspects of our ails and culture offering for 2024 are going well. The Arts Festival runs in July of each year. Iv) Volunteerliig The Partnership continued to support volunteering in Prudhoe with support from Northumberland CVA. Iv1} Cllinato Chaiige and Blodlverslty The Partnership has taken the lead on forming a working party lo look al issues around climate change and biodiversity running a number of Prudhoe Goes Green days which has been very popular with the general public. The Partnership is working with the Prudhoe Town Council to develop Climate Change Action Plan with the aim to declare a 'Climate Emergency, in autumn 2024. A small project to extend public activities has seen the beginnings of the Green Butterfly project with small planters being distributed to community groups. (vii) Coininiinity Lecl Hoiislng - Ebeiiezer Chapel Whilst initially it looked as if this project was unsuccessful, the Partnership have been approached once again to look at taking on this development, The Partnership is working with Karbon Homes go develop community housing. Karbon Homes is taking the lead on this project. (vlll) Prlidhoe Walled Gar(lon The Partnership has continued il work with the community to develop the walled garden as a community asset. This work is on-going and involves Prudhoe Town Council and a number of community groups. (ixl The Gla(le Develoi)moiit The Partnership has been working with Prudhoe Town Council and NorthLimberland County Council to develop a more user-friendly public space and a permanent performance area. Application to Borderlands Government funding is being prepared ready for submission in June 2024. Ixl Front Stl'ogt Rotailer Siippori The Partnership has been working with the High Street Task Force consultants to look al ways of supporting our Front Street retailers. As a result of this work an application to Borderlands Government funding is being prepared ready for submission in June 2024. This is to work on a number of small projects with an aim to get this project into the Prudhoe Place Plan to seek additional revenue funding. Page 3
PRUDHOE COMMUNITY PARTNERSHIP RIPORT OF THE TRUSTEES ST FOR THE YEAR ENDING 31 MARCH 2024 FINANCIAL REVIEW Flnanclal Posltlon The Partnership received income of £143,16912023.214,750} and incurred expenses of £102,513 {2023. £92,602) In addition, the Partnership made mortgage repayments on Spetchells Centre of £30,155 which are treated as capital. The net assets at the year-end rose to £1,044,674 (2023. £1,004,018) In relation to the main consliluent funds.. Geiieral Fund (un restrlctad) This fund is used to support new inilialives in the town and for general development work which trustees are unable lo undertake themselves. The General Fund received income of £24,144 (2023: £22,500) mainly comprising rent from shops and expenditure was £18,364 (2023.. £14,680) for core running costs of the charity and for development activities in relation to East Centre. Spetchells Cenlre Flind (unrestrlctecl) This fund is for running Spetchells Centre. It received income of £119,025 (2023.. £192,250) mainly from rents and service charges. Expenditure incurred was £84,149 (2023.. £77,922), mainly for mortgage interest payments, building management, services, and repairs. The Trustees aim to break even in running the Centre after accounting for Capital repayments on the mortgage of £30,155, there was a surplus of £4,721 for the year. Other Fiiiids (restrlcte(l) These are specific funds for a significant number of short and long-term projects where the Partnership has been successful in ils bids for external funding. These cover a wide range of community projects including the Arts Festival, Radio Prudhoe, Prudhoe Space for Nature, Prudhoe Local History Society and Warm Space, and general projecl support. In addition, Prudhoe Pocket Park funds remain. Assets The Partnership holds long term leases from Northumberland County Council on the following properties.. -Spetchells Centre -68 & 69 Front Street (tenants.. Red Hot Properly and Slevie Cuts) -23A Front Street {lenanl.' Shoefixl -51 Front Street (tenant.. Dhillions Fish Inn} The Partnership is three years into a five-year lease at a peppercorn rent with the Co-op for the Pocket Park which started in January 2021. Roserves pollcy The free reserves at the year end, excluding the value of the properties were £82,304. The Trustees, policy is to hold reserves to meet redundancy costs and six months running costs and lo hold sufficient funds to meet any emergency repairs that might be needed to the property, and they consider this to be an adequate sum for that piirpose. Eveiits after the year eii(I: Covid I g lock(lowii Page 4
PRUDHOE COMMUNITY PARTNERSHIP REPORT OF THE TRUSTEES ST FOR THE YEAR ENDING 31 MARCH 2024 Whilst the main threat of the pandemic in infection spread has now receded, the long-term impact is still being felt across the town and the region. Occupancy of the Spetchells is steady back to pre- pandemic levels but we are aware that individual and corporate concerns remain in some cases. FUTURE PLANS Trustees continue to develop their long-term plans through the PCP Strategic Plans. The Borderlands consultations Continue at a very slow and frustrating pace. In the meantime, the work of the Partnership is growing fast with the help of external funding and expertise. The key projects being.. Working on developments with East Centre project by engaging 50 hours of time from CAN (Alan Gerono} which has resulted in work with Rural Design Centre and Mosedale Gilliati Architects. Working on the asset transfer from NCC continues. Initial plans have now been submitted for pre-planning agreement and have been successful. Developing the Prudhoe Community Hub as a central place for information and support. The aim to cover the running costs within years is proving a challenging and covering the costs to maintain the service is a concern to Trustees The Prudhoe Arts Festival 2024 will run in Ju ly with both an Arts Trail and Music Festival as well as Bookworm in partnership with the Library. Working with Prudhoe Space for Nature and with Karbon Homes work is now progressing on the community orchard. In addition, the Bee Bed is now in full bloom and 8 much-loved asset to the town. Ebenezer Chapel development with Karbon Homes, involving both the Methodist Church and the Coal Board is moving on with plans for eight-flat affordable homes using some of the existing stonework in a new-build. Karbon Homes are leading on this project Working with an established group on securing the Prudhoe Walled Garden for community use. The Partnership is leading on three significant projects for Borderlands funding. These include working with the Prudhoe Town Council, Northumberland County Council and a number of community groups. Working with interested parties on Prudhoe Goes Green cenlrin9 on renewable energies, saving money on heating and fuel and several similar related projects. Supporting the Prudhoe Youth Project in Its works with young people. Building on plans to support Volunteering in Prudhoe. Developlng plans for The Glade to update the facilities for performances, social interaction and market spaces. STRUCTURE, GOVERNANCE AND MANAGEMENT Governiiig dociimeiit The partnership is a charitable company limited by guarantee, incorporated on 26th February 2006. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under ils Articles of Association. The Memorandum and Articles were revised and the Annual General Meeting on 151h July 2009 and again in August 2021. STRUCTURE, GOVENANCE AND MANAGEMENT Cliarity coiistitiition The Partnership is governed by the trustees who are also directors of the company. The composition of the trustees, body is.. Ten trustees elected from individLials and organisations in membership of the Partnership One trustee appointed by Northumberland County Council One trusteed appointed by Prudhoe Town Council Trustees meet bi-monthly and volunteer to help in running Spetchells Centre and as members of working parties and in other ways. All the projects are undertaken by trustees and supporters on a Page 5
PRUDHOE COMMUNITY PARTNERSHIP REPORT OF THE TRUS'fEES ST FOR THE YEAR ENDING 31 MARCH 2024 voluntary basis except when particular skills or resources are needed. Projects requiring additional expertise have this work covered by external grants. Trustees consider that the increased level of activity required additional and skilled help and agreed to contract with Community Action Northumberland to provide a development worker for 50 days 8 year to support trustees. This arrangement has worked well, and the contract has been renewed for a further year. Trustees are elected by members of the Partnership at the Annual General Meeting. Al the end of the year, there were 62 members. Caroline Warburlon was appointed Chair on 181 April 2021 and continues in this role until April 2026. Paul Murray continues as the Deputy Chair role and Judith Savage is the Treasurer. The Annual General Meeting remains in September with the next AGM to be held on Tuesday 1 g September 2024 Staff The Partnership employs a part time Manager for Spetchells Centre, Gail Jewitt, and a part time Assistant Manager, Julie Smith. Related Partle8 Angle Scott is the elected member of Northumberland County Council and Dorothy Dickinson is the elected member of Prudhoe Town Council with both of these providing financial support to the Partnership. Both authorities are also tenants of Spetchells Centre. Accoiints and exteriial examlnatlon Following a review of accountancy servlces, Digital Accountancy, based in Spetchells Centre, have been appointed as Independent Examiner for 2023124. This report has been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities {issued in March 2005) and in accordance with the special provisions of Parl Vll of the Companies Act 1985 relating to small enliti&s. STRUCTURE, GOVERNANCE AND MANAGEMENT Rlsk Management The Partnership will review ils risk assessment in November 2024. An initial assessment identifies potential loss of tenants because of the long-term impact of the pandemic and the general rise in the costs of living. Approved by order of the board of trustees on and signed in its behalf by.. eaio6ihe Wai614110 Caroline WarbLirlon - Chair of Trustees Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PRUDHOE COMMUNITY PARTNERSHIP Independent examiner's report to the truste&8 of Prudhoe Community Partnershlp I'the Company'l I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also ils directors for the purposes of company law) you are responsible for the preparation of th8 accounts in accordancè with the requirements of the Companies Act 20061'th6 2006 Act,.) Having satisfied myself that the accounts of the Company are not required to be audited under Part 18 of Ihe 2006 Act, and are eligible foT indèpend8nl examination, I report in respect of my examination of your charily's accounts as carried out under section 145 of the Charities Act 2011 I'lhe 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. Independeiit èxamlnerfs 8tatement Since your charity's gross incorne exc88ded £250,000, your ex8miner must be a m8mb8r of a lisl8d body. I can confirm that l am qltalified lo undertake the examination because l am a registered member of the Institute of Chartered Accountants In England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have Come lo my attention in connection with the examinatlon giving me cause lo beli6V6'. 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 a¢¢ounling r&quirements of section 396 of the 2006 Act other than any requirement that the accounts glvè a true and fair view, which is nol a maller ¢onsld8red as part of an independent examination., or th6 accounts have not been prepared in accordance with the methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities (applicable lo charili&s preparing th&ir accoiin18 in accord8n¢e with the Financial Reporting S18ndard applicable in the UK and Republic of Ifeland (FRS 102)). I have no concerns and have comé across no other mallers in connection with the èxamination lo whi¢h attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Karen Saddin9lon ACA Institute of Chartered Accounlanls in England and Wales Digital Accounlancy The Spelchells Centre 58 Front Street Prudhoe Norlhumberland NE42 SAA Date.. Page 7
PRUDHOE COMMUNITY PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 53 15,315 15,368 59,602 Investment Income Other incom& 139,752 3,364 139,752 3,364 121,363 85,314 Total 143,189 15,315 158,484 266,279 EXPENDITURE ON Charitable actlvitlos General charltable actlvltlès 102,513 16,642 119,155 137,944 Net galns on Investment8 NET INCOME 40,656 1 ,327 39,329 128,335 Transfers between funds 16 Net movement In funds 40,656 11,3271 39,329 128,335 RECONCILIATION OF FUNDS Total funds brought forward 1,004,018 21,631 1,025,649 897,314 TOTAL FUNDS CARRIED FORWARD 1,044,674 20,304 1,064,978 1,025,649 The notes form part of these financial slalemenls Page 8
PRUDHOE COMMUNITY PARTNERSHIP IREGISTEREO NUMBER: 057576211 BALANCE SHEET 31 MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible assets Investment property 1,117,500 227,500 1,117,500 227,500 10 1,345,000 1,345,000 CURRENT ASSETS Debtors Cash at bank and In hand 6,352 118,149 6,389 111,925 124,601 118,314 CREDITORS Amounts falllng due wlthln on8 year 12 37,087 40,073) NET CURRENT ASSETS 87,414 78,241 TOTAL ASSETS LESS CURRENT LIABILITIES 1,432,415 1,423,241 CREDITORS Amounts falling due after mor& than one year 13 387,437 397,592 NET ASSETS 1,064,978 1,025,649 FUNDS Unrestrlcted funds: General fund Capltal fund 16 95,805 948,869 1,044,874 20,304 85,304 918,714 1,004,018 21,831 Restrlcted funds TOTAL FUNDS 1,064,978 1,025,649 The chari18ble company is entitled ID exemption from audit Linder Section 477 of the Companies Act 2006 for the year ended 31 March 2024 in accordance wilh Section 476 of Ihe Companies Act 2006. The members have not reqLiired the company lo obtain an auolit of its financial slalemenls for the year ended 31 March 2024 In accordance with Section 476 of the Companies Acl 2006 The trustees acknowledge their responsibilities for,. lal ensuring that the charitable company keeps accounting records that comply with Sections 388 and 387 of the Companies Act 2006 and Ib) preparing financial slalemenls which give a true and fair vievi of the stale ol affairs of the charitable company as al the end of each financial year and of its siirplus or deficit for each financial year in accordance bvilh the reqLiiremenls of Sections 394 and 395 and which olhenNlse comply with the reqiiiremenls of the Companies Act 2008 relating to financial slalemenls so far as applicable to the charitable company. The notes form part of these financial slalemenls Page 9 conv...
PRUDHOE COMMUNITY PARTNERSHIP (REGISTERED NUMBER.. 057576211 BALANCE SHEET - continued 31 MARCH 2024 These financial slalements have been prepared in accordance with the provisions applicable lo charitable compani6s subject to the small companies regime. The financial slalernents ere approved by the Board of Trustees and aulhorised for issue on.................. and were signed on ils behalf by.. Ms C L Warburton . Trusteè P Murray - Trust The notes form parl of these financial slalèmenls Page10
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 ACCOUNTING POLICIES Basis of preparing the financial statements The financial slalemenls of the charilable company, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounling and Reporting by Charities.. Statement of ReGommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effeclive l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard 8pplicable in the UK and Republic of Ireland and the Companies Act 2006. The financial slalemenls hav6 been pr6pafed under the historical cost convention, as modified by the revaluation of certain assets. Financial reportlng standard 102 - reduced dlsclosur8 exemptlons The charitable company has18ken 8dvanlage of the following disclosLire exemplions in preparing th8S8 financial slalem8nls, as permilled by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. the reqiiiremenls of Beclion 7 Staleménl of Cash Flows. Income All income is r8¢ognised in the Stalemenl ol Financial Activities once the charity has enlillem8nl lo the funds, il is probable that the income will be received and the amoLinl c8n be measured reliably. Voliinlary income including donations and grants are rÈcognised where there is &nlillemenl, certainly of receipt and the amount can be measured with sufficient reliability. Income from Gharilable activities is re¢ogr)ised as earned under conlract or where enlillemenl lo grant funding is subject lo specific performance Gondilions. Expenditure Liabilities are recognised as exp8ndiliire as soon as there is a leg81 or conslrliclive obligation commllling the charity lo that expendilLlfe, il is probable that a Iransler of econoniic benefits will be reqiiired in selllemenl and the amount of the obligation can be measured reliably. Expendiliire is accoLinled for on Sn accruals basis and has been classili8d under headings that aggregate all costs rela16d to the category. Where costs cannol be directly allributed lo particular headings they have been alloca18d to 8olivilies on a basls consislenl with the use of resources. Grants offered subject lo conditions which have not been mel al the ye8r end dale are noted as a commitment bul not accru6d as expenditure. Tanglble flxèd assets Depreciation is provided al the follokving annLial rates in order to wrile off 8a¢h asset over Its eslimaled useful lif6. Long Leasehold - not provided Fixtures and fillings - 25 % slraighl line Investment property Investment property is shown al most recent valuation. Any aggregate SLirplLlS or deficit arising from changes in fair value is recognised in the SlalÈmenl of Financial Aclivilie$. Taxation The charity is exempt from corporation lax on ils charitable aclivilies. FLind accounting Unreslriclecl fliiids can be Lised in accordance wilh the charitable objeclivilies al the discretion of the IfLislees. Reslricled funds can only be Lisecl for particular reslriclecl purposes viilhin the object ol the charity. Reslriclions arise vihen specified by the clonor or when the funds are raised for particular reslricled purposes. Page11 contl...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continuod FOR THE YEAR ENDED 31 MARCH 2024 1 ACCOUNTING POLICIES - continued Fund accounting Further explanation of the nature and purpose of eaGh fund Is included in the notes lo the financial slalemenls. Penslon costs and other post-retlrement benefits The charitable company operates a defined contribution pension scheme. Conlribulions payable lo the charitable company's pension scheme are charged to th8 Slalemenl of Financial Activities In Ihe period to which they relate. 2 INVESTMENT INCOME 2024 2023 Rents & service charges 139,752 121,363 Breakdown of investment income Rents and servlce Charges 2024 2023 General fund Spelchells fund 24,144 115,608 22,500 08,863 Total 139,752 121,363 3 CHARITABLE ACTIVITIES COSTS Direct Cosls15ee nola 41 Grant funding of activities Totals General charitablè activities 102,513 102,513 Page 12 cor)V.
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continuod FOR THE YEAR ENDED 31 MARCH 2024 4 DIRECT COSTS OF CHARITABLE ACTIVITIES Breakdown of expenditure between funds General Spetchells Other 2024 2023 Staff costs 1,151 20,648 20,090 5,356 3,633 (35) 24,676 2,884 539 21,799 20,090 5,356 3,633 135) 24.676 2,864 539 19,833 18,794 3,969 3,668 104 19,996 2,810 5,317 Insurance Telephone Printing, slalionery & advertising Cleaning & maintenance Accountancy Prof8ssional fe8S Depreciation Qflice costs Interest Olher costs Development aGlivilies Granl81o institutions 712 221 6,157 933 6,157 1,001 15,500 6,543 2,068 9,500 1,001 15,500 18,364 84,149 102,513 92,602 Other expenditure 5 NET INCOME I IEXPENDITUREI Nel income l (expendillire) is staled 8fler charging l (crediting)., 2024 2023 Depreciation - ovined assets Independent examlner's fees 1,500 1,500 6 TRUSTEES, REMUNERATION AND BENEFITS There w8re no Iruslee's remLineralion or other benelils for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no trustees, expÈnses paicl for the year ended 31 March 2024, nor Iof the year ended 31 March 2023. Page 13 conll...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 7 STAFF COSTS 2024 2023 Wages and salaries Other pension costs 21,331 468 21,799 19,386 447 19,833 Th8 avera9e monthly number of employees during thè yèar was as follows.. 2024 2023 Managemenl and administration No 8mploy8es received emoluments in Èxcèss of £60.000. 8 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricled funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 53 15,315 15,368 Investment income Other income 139,752 3,364 139,752 3,384 Total 143,169 15,315 158,484 EXPENDITURE ON Charitable aclivilies General charitable activities 102,513 16,642 119,155 Net galns on investments NET INCOME (EXPENDITURE) 40,656 {1,3271 39,329 Transfer betwèen funds Nèt movomenl In funds 40,656 11,327} 39,329 RECONCILIATION OF FUNDS Tot81 funds brought forward 1,004,018 21,831 1,025,649 TOTAL FUNDS CARRIED FORWARD 1,044,874 20,304 1,064,978 Page 14 contl...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 31 MARCH 2024 9 TANGIBLE FIXED ASSETS Fixtures and fillings Long leasehold COST As 811 April 2023 and 31 March 2024 Totals 1,117,500 62,534 1,180,034 DEPRECIATION As al l April 2023 62,534 62,534 Charge for year Al 31 March 2024 62,534 62,534 NET BOOK VALUE Al 31 March 2023 1,117,500 1,117,500 Al March 2024 1,117,500 1,117,500 The Spelchells Centre was valiied in F6brLl8ry 2017 al a commercial market value assuming vacant possession al £750,000. The Iriislees consider that because of the length of the lease, the secLirily of most tenancies and the social value of th8 biiil(ling lo the community, the fair value of th6 bLiilding is £1,117,500. 10 INVESTMENT PROPERTY FAIR VALUE As 1 April 2023 and March 2024 227,500 NET BOOK VALUE Al 31 March 2024 227,500 227,500 11 DEBTORS., AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors Prepayments and accrued income 4,625 25 1,702 6,352 4,661 25 1,703 6,389 Page 15 conll...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 12 CREDITORS - AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdrafts (see note 14) Trade creditors Social security and other taxes VAT Other Creditors Accruals and deferred Income 28,694 3,055 47 4,266 457 568 37,087 28,694 9,585 38 742 466 568 40,073 13 CREDITORS - AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Bank loans (see note 14) 367,437 426,286 14 LOANS An ana5ysis of th8 malurily of loans is given below: 2024 2023 Amounts falling due within one y&ar on demand.. 8ank loans 28,694 28,694 AmoLinls falling between Iwo and fiv6 years Bankloons 1 2 years 28,694 28,694 Amounts falling between two and live years Bank loans 2 - 5 years 86,082 86,082 Amounts falling dLl8 in more than five years Repayable by inslalments Bank loans more than 5 yrs by inslalmenl Repayable other than by inslalmenls.. Bank loans niore than 5 yrs non-lnstolimenls 252,661 282,816 15 ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Total funds 2023 Total funds Unreslricled funds Reslrioled fiincls Fixecl assets Investments Clirrenl assets Current liabilities Long term liabilities 1,117,500 227,500 104,197 (37,0871 (367,437 1,044,673 1,117,500 227,500 124,501 (37,0871 (367,4371 1,064,977 1,117,500 227,500 118,314 {40,073) 397,592) 1,025,649 20.304 20,304 Page 16 onu...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 16 MOVEMENT IN FUNDS Nel Movement in funds Transfers between funds At 0.04.23 Al 31.3.24 Unrestrlct6d funds General fund Spelchells fund Capital fund 85,304 6,002 34,654 4,499 {34.654) 30,155 95,805 918,714 1,004,018 948,869 1,044,674 40,656 Restrlcted funds Climate Change Community Chest Community Events Coronation Community Fund Credit Union Digital Prudhoe Employment Skills & Advice Centre Estelle library fund Energy Study Flowerbed Project Front Street Regeneration Project Green Bullerfly Project Karbon Homes - Event Support Karbon Homes- Space for Nature Karbon Homes- Warm Spaces Local History Society Music by the rivér NCC CommLinily Hub Initiative NCC Local Improvement Scheme Pocket Park QLieens Jubilee Fund Upcycling project VIP incomè PrLidho8 & District Local History Society Radio PrLidhoe Space for NalLire Spelchells Welcome Desk Kickslart Lel'8 Gel Digital The East Centre Thriving Tog61her VCSE 490 {903) 5,847 4,918 11,479} 5,408 (2,3821 5,847 355 203 500 2,915 57 355 203 500 2,915 469 (412) 150 1,400 3,850 (97) 150 1,400 3,850 383 825 1,000 2,785 15301 112,1051 765 3,510 308 118 480 825 1,000 3.009 2.836 14,6211 12241 (3,366) 17,484) 765 (1,1121 4,622 306 1,575 (1,4571 632 1,194 632 1,194 611 611 245 (194) 1,916 245 348 1,916 540 21.631 11,327 20,304 TOTAL FUNDS 1,025,649 39,329 1,084,978 Page 17 conll...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 MOVEMENT IN FUNDS - contlnued Nel movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcted fund8 Gen8ral fund Sp8tchells fund 24,144 119,025 18,142 84,371 6,002 34,654 143,169 102,513 40,656 Restricted funds Climatè Change Community Chèst Community Events Coronation Community Fund Credit Union Digital Prudhoe Employnienl Skills & Advice C8nlr8 Estelle library fund Energy Study Flowerbed Project Front Street Regeneration Project Green Bulléffly Project Karbon Homes- Event Support Karbon Homes- Space for Nature Karbon Homes- Warm Spaces Kickslart Let's Gel Digital Local History Society Music by the river NCC Communily Hub Initiative NCC Local Improvement Scheme Pocket Park Qiieens Jiibilee Fund Upcycling project VIP income PrLidhoe & District Local History Society Radio Prudhoe Space for Nature Spelchells Welcome Desk The East Centre Thriving Together VCSE 4,918 4,918 (1,479) 1,479 355 355 500 500 412 1412) 150 1,400 3,850 150 1,400 3,850 1971 97 224 3,366 7,484 1,011 1224> {3,366) 17,484) 765 (1,1121 1,776 1,457 11,4571 632 1,194 632 1,194 540 540 15,315 16,642 (1,3271 TOTAL FUNDS 158,484 119,155 39,329 Page 18 conll...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 16 MOVEMENT IN FUNDS continued Comparatives for movement in funds Nel Movement in funds Transfers between funds Al 0.04.22 Al 31.3.23 Unrestrlcted funds General fund Spelch611s fund Capital fund 101,892 7,993 114,155 {24,5811 {114,155) 138,736 85,304 779,978 881,870 918,714 1,004,018 122,148 Restricted funds Climate Change Community Chest Community Events Credit Union Employftienl Skills & Advice Centre Es1611e library fund Karbon Homes- Event SLlPPOrt Karbon Hom8s- Space for Nature Karbon Hom6s - Warm Spaces Kickslart Lets Gel Dlgilal Music by the liver NCC Community Hub Initiative Pocket Park PrLidh08 & District Loc81 History Society Queens JLibilee Fund Radio Prudhoe Spelchells Welcome Desk The East Centre Thriving Together VCSE Upcycling project VIP income 490 {903) 710 203 2,915 13401 480 825 1,000 332 490 (903} 5,847 203 2,915 469 480 825 1,000 5,137 809 731 245 11,063) 245 2,838 {4,621) 4,622 3,009 306 2,836 13,583) {4111 3,009 <2,6941 322 {801 (1941 1,916 {404) 12421 16,2531 5,033 5,215 3,000 322 691 (644) 611 11941 1,916 1,575 1,979 3.750 {3,5081 15,444 8,187 21,631 TOTAL FUNDS 897,314 128,335 1,025,649 Comparative nel movement in fLinds, included in the above are as follovls.. Incoming resources Resources expended Movement in funds Unrestricted funcls General fLind Spelchells fund 22,500 192,250 214,750 14,507 78,095 92,602 7.993 114.155 122,148 Page 19 conli..
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 16 MOVEMENT IN FUNDS Continued Comparatives for movement in funds Restrlcted funds Climate Change Community Chest Communily events Credit Union Employment Skills & Advice Centre Estelle library fund K81bon Hom8s- Event Support Karbon Homes- Space for Nalure Karbon Homès - Warm Spaces Kickslart Music by the river NCC Community Hub Initiative Pocket Park Prudhoe & District Local History Society Queens Jiibile8 Fund Radio Prudhoe Spelchells Welcome Desk The East Centre Thriving Together VCSE Upcycling project VIP income 490 490 (903} 710 203 2,915 1340} 480 825 1,000 (731 } 2,836 1,632 (411) 3,009 (2,694) (322) {80) (194) 1,916 {404) 3,750 6.187 128,335 903 785 700 1,595 340 520 1,955 1,495 903 4,510 1,000 2,780 1,000 5,912 2,857 6,027 6,843 21 4,395 411 493 2,694 5,987 80 13,390 84 596 3,750 45,342 137,944 3,502 5,665 13,196 2,000 192 61,52 266,279 TOTAL FUNDS Unrestrlcted fund8 General fund any incomè gifted or gran16d lo PCP for its gener81 activities, including tha rental income from two rental properties transferred und8r the 'Assel transfer, proc8dures from Northumberland County Council to PCP. Capltal fLJnd the valiie of thè fixed assets and investment properties less any associated borrowings. Restrlcted funds Community events - fLinds for community events in Prudhoe. Estelle Library fLind - donation lo support th8 work of Prudhoe Library. Pocket Park funding received from Norlhumberland County Council, PrLidhoe Town Council and local Iraders lo develop a pocket park. 17 RELATED PARTY DISCLOSURES Thero were no related parly transactions for th8 year ended 31 March 2024. 18 MEhlBER LIABILITY The charity is a private company limited by gLiaraiilee and conseciuenlly does not havo share capital. Each of the members is liable lo contribute an amoLinl not exceeding £1 loviards the assets of the chafily in the evenl ol liqiiidalion. Page 20 conll...
PRUDHOE COMMUNITY PARTNERSHIP DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacie$ Donations Grants 53 73 8,000 53 8,073 Investment Incom8 Rents & Service charg6s 139,752 121,363 other Incom6 Spelchells other income Loan write-off CJRS grant income 3,384 4,039 81,275 3,384 85,314 Total In¢omlng resources 143,189 214,750 EXPENDITURE Charltable actlvltles Wages Pensions 21,331 468 20,090 5,356 3,633 135) 779 24,676 933 1,364 1,500 539 222 15,500 19,386 447 18,794 3,989 3,668 104 1,895 19,996 Inslirance Telephone Postag6 and slalionery Siindries Clèaning & maintenance Office expenses Accountancy Independent examiners fees Legal and professional fees Bank charges Development aclivilies Fixture5 and fittings Mortgage interest Grants to inslilulions 1,310 1,500 5,317 173 9,500 6,157 6,543 Total resources expended 102.513 92,6Q2 Net Income 40,656 122,148 This page does not form parl of the stalLilory financial slalemenls Page 21