REGISTERED COMPANY NUMBER.. 05757621 (England and Wales) REGISTERED CHARITY NUMBER.. 1113927 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR PRUDHOE COMMUNITY PARTNERSHIP Karen Saddinglon ACA Digital Accountancy Spetchells Centre 58 Front Street Prudhoe Northumberland NE42 SAA
PRUDHOE COMMUNITY PARTNERSHIP CONTENTS OF THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 2025 Page Report of the Trustees Independent Examiner's Report Slatemenl of Financial Aclivities Balance Sheet Notes to the Financial Statements 12 10 21 Detailed Slalemenl of Financial Activities 22
PRUDHOE COMMUNITY PARTNERSHIP REPORT OF THE TRUSTEES ST FOR THE YEAR ENDING 31 MARCH 2025 Charlty Name: Prudhoe Community Partnership Charity Reglstration Number: 1113927 Company Reglstration Number: 5757621 Reglstered Office and operatlonal address: Spetchells Centre 58 Front Street, Prudhoe, Northumberland NE42 SAA Website '. ww. rudhoe.or Facebook.. www.facebook.com/s Twitter (Xl.. @prudhoecp etchellscentre Trustees: Caroline Warburton Paul Murray Judith Savage (re-elected July 20221 Chair of Trustees (April 2021 } (re-elected July 20221 Deputy Chair (July 2021) Treasurer Alan Sawyers Dr Steven Quilliam Judith Savage Sue Henderson Lorraine Lathan (elected January 20251 (re-elected July 20231 (elected April 2023) (elected January 2025) (elected January 20251 vacant Dorothy Dickinson Norlhumberland County Council County Councillor Prudhoe Town Council representative Retired Trustees: Brenda Grey Paul Hillary Dr Carol Stephenson Company Secretary: Gail Jewitt Independent Examlner: Digital Accountancy Spelchells Centre, 58 Front Street, Prudhoe Norlhumberland, NE42 SAA Bankers: Unity Trust Bank Nine Brind leyplace Birmingham, B12HB Solicitors: 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 2025 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, March 2025. 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 UK and Republic of Ireland <FRS102) (effective 1st January 2019) OBJECTIVES AND ACTIVITIES Objectives and Aims The Partnership's purpose as set out in the objects contained in the company's Memorandum of Association are to 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 Northumberland. The Partnership currently interprets this as "making Prudhoe a betterplace to live work and visif, and engages in several activities to fulfil this aim. Public Benefit 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, work and visit,, 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 Spetchells 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. Significant Activities During the year, the Partnership has been involved in the following projects.. (i) Spetchells Centre The Partnership manages a purpose-built community hub opened in 2012, which provides off ices and facilities for a range of public, private and voluntary groups, and organisations. It houses Prudhoe Library, which is the core tenant, and Northumberia Police. The Spetchells Centre provides wide ranging public benefit to the people of Prudhoe by ensuring that advice and information services from Northumberland County Council, Prudhoe Town Council, Barclays Bank and Lloyds Bank are readily available in the centre of town. The offices were fully let throughout the year and tenants included Northumbria Police, Northumberland County Council, Prudhoe Town Council, Barclays Bank plc, Digital AccountanGy, Prudhoe Youth Project, Mortal Fools and AS-Design. The Spetchells Centre has been increasing its occupancy, and, at the end of March 2025, the building is fully occupied. Page 2
PRUDHOE COMMUNITY PARTNERSHIP REPORT OF THE TRUSTEES ST FOR THE YEAR ENDING 31 MARCH 2025 In September 2021, the Partnership took on a 5-year lease of 61 Front Street, Prudhoe, which is a small retail premises, to turn it into Prudhoe Community Hub, providing a public face for PCP and to allow for wider community work. As with all community-based projects, its development is organic as the space can be used at short notice for the needs of the local community. East Centre The Partnership's work on developing a viable 'fit for purpose, Youth and Community Hub continue. A working party has made considerable progress and have engaged Mosedale Gillatt Architects (www.m architects.info) 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 December 2025. Prudhoe Pocket Park - Community Orchard - Co-op Flower bed (Bee Bed) 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 public in autumn 2025. (Iv) Arts and Culture The Prudhoe Arts Festival continues to grow and develop through 2024 and into 2025. The Arts Trail 2024 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 arts and culture offering for 202516 are going well. The Arts, Festival runs in July of each year. (v) Volunteering The Partnership continued to support volunteering in Prudhoe with support from Northumberland CVA. Ivi) Climate Change and Biodiversity The Partnership has taken the lead on forming a working party to look at issues around climate change and biodiversity running a number of Prudhoe Goes Green days which has been very popular with the general public. Working in partnership with Prudhoe Town Council, a 'climate emergency, statement has been published. 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) Community Led Housing- Ebenezer 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 Page 3
PRUDHOE COMMUNITY PARTNERSHIP REPORT OF THE TRUSTEES ST FOR THE YEAR ENDING 31 MARCH 2025 with Karbon Homes go develop community housing. Karbon Homes is taking the lead on this project. (viii) Prudhoe Walled Garden The Partnership has continued it work with the community to develop the walled garden as a community asset. This work is on-going and involves Prudhoe Town Council and several community groups. lix) The Glade Development The Partnership has been working with Prudhoe Town Council and Northumberland 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 December 2025. (x) Front Street Retailer Support The Partnership has been working with the High Street Task Force consultants to look at 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 December 2025. This is to work on several small projects with an aim to get this project into the Prudhoe Place Plan to seek additional revenue funding. FINANCIAL REVIEW Flnancial Position The Partnership received income of £163,977 (2024.. £143,169) and incurred expenses of £95,920 (2024.. £102,513). In addition, the Partnership made mortgage repayments on Spetchells Centre of £30,636 which are treated as capital. General Fund (unrestricted) This fund is used to support new initiatives in the town and for general development work which trustees are unable to undertake themselves. The General Fund received income of £26,398 (2024.. £24,144) mainly comprising rent from shops and expenditure was £15,715 (2024.. £18,364) for core running costs of the charity and for development activities in relation to East Centre. Spetchells Centre Fund (unrestricted This fund is for running Spetchells Centre. It received income of £137,579 (2024.. £119,025) mainly from rents and service charges. Expenditure incurred was £80,205 (2024.. £84,149), 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 £30,636, there was a surplus of £26,738 for the year. Other Funds (restricted) These are specific funds for a significant number of short and long-term projects where the Partnership has been successful in its 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, Pocket Park and general project support. Page 4
PRUDHOE COMMUNITY PARTNERSHIP REPORT OF THE TRUSTEES ST FOR THE YEAR ENDING 31 MARCH 2025 Any surplus income at the end of the year goes into reserves to help pay costs going forward. Income and expenditure change each year, so we need to keep money in reserves, to cover any deficits arising over a 12-month period. Reserves are also held to meet redundancy costs and six months running costs and to ensure sufficient funds to meet any emergency repairs that might be needed to the property. We also raise funds each year from grants. donations and contributions that help us to deliver projects across the community. Assets The Partnership holds long term leases from Northumberland County Council on the following properties.. -Spetchells Centre -68 & 69 Front Street (tenants.. Red Hot Property and Stevie Cuts) -23A Front Street (tenant.. Shoefix) -51 Front Street (tenant.. Dhillions Fish Inn) The Partnership is four years into a five-year lease at a peppercorn rent with the Co-op for the Pocket Park which started in January 2021. Reserves policy The Trustees, policy is to hold reserves to meet redundancy costs and six months running costs and to 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 purpose. 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). 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 two years is proving challenging and covering the costs to maintain the service is a concern to Trustees The Prudhoe Arts Festival 2025 will run in July 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 a much-loved asset to the town. Ebenezer Chapel development with Karbon Homes, involving both the Methodist Church and the Mining Remediation Authority (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. Poge 5
PRUDHOE COMMUNITY PARTNERSHIP REPORT OF THE TRUSTEES ST FOR THE YEAR ENDING 31 MARCH 2025 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 centring 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. Developing plans for The Glade to update the facilities for performances, social interaction and market spaces. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document 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 its Articles of Association. The Memorandum and Articles were revised and the Annual General Meeting th on 15 July 2009 and again at the Annual General Meeting on 20 July 2017. th STRUCTURE, GOVENANCE AND MANAGEMENT Charity constitution 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 individuals 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 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 a 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. At the end of the year, there were 62 members. Caroline Warburton was appointed Chair on 1 sl 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 16 September 2025. Staff The Partnership employs a part time Manager for Spetchells Centre, Gail Jewitt, and a part lime Assistant Manager, Julie Smith. Page 6
PRUDHOE COMMUNITY PARTNERSHIP REPORT OF THE TRUSTEES ST FOR THE YEAR ENDING 31 MARCH 2025 Related Parties 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. Accounts and external examination Following a review of accountancy services, Digital Accountancy, based in Spetchells Centre, have been appointed as Independent Examiner for 2024125 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 Part Vll of the Companies Act 1985 relating to small entities. STRUCTURE, GOVERNANCE AND MANAGEMENT Risk Management The Partnership will review its risk assessment in November 2025. 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.. Caroline Warburton - Chair of Trustees Page 7
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PRUDHOE COMMUNITY PARTNERSHIP Independent examiner's report to the trustees of Prudhoe Community Partnership I'the Company,) I report lo the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responsibilities and basls of report As the charity's trustees of the Company {and also ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'Ihe 2006 Act,.) Having salisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2008 Act, and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 {'the 2011 Act.). In carrying 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 Since your charity's gross income exceeded £250,000, your examiner musl be a member of a listed body. I can confirm that l am qualified to Ltndertake the examination because l am a registered member of the Institute of Chartered Accounlanls in England and Wales. which is one of the listed bodies. I have completed my examination. l confirm that no mallers have come lo my attention in connection with the examination giving me Gause to believe.. accounting records were not kept in respèct 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 cornply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view, which is not a maller considered as part of an independent examination., or the accounts have not been prepared in accordancè with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irèland IFRS 102)). I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Karen Saddington ACA Inslitvle of Chartered Accounlanls in England and Wales Digital Accountancy The Spetchells Centre 58 Front Street Prudhoe Northumberland NE42 SAA Dale.. Z6 01 201 Page 8
PRUDHOE COMMUNITY PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacia8 (281) 8,293 8,012 15,368 Investment income 160,520 160,520 139,752 Other Income 3,738 3,738 3,364 Total 163,977 8,293 172,270 158,484 EXPENDITURE ON Charitable activities General charitable actlvltles 95.920 95,920 119,155 Net galns on Snvestment8 NET INCOME 68,057 8,293 76.350 39,329 Transfers between fund8 16 Net movement In fund8 68,057 8,293 76,350 39,329 RECONCILIATION OF FUNDS Total funds brought forward 1,044.674 20,304 1,064.978 1,025,649 TOTAL FUNDS CARRIED FORWARD 1,112,731 28,597 1,141,328 1,064,978 The notes form part of these financial statements Page 9
PRUDHOE COMMUNITY PARTNERSHIP (REGISTERED NUMBER: 057576211 BALANCE SHEET 31 MARCH 2025 2025 2024 Notes FIXED ASSETS Tangible assots 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 6.288 160,594 6,352 118,149 166,882 124,501 CREDITORS Amounts falling due within onè yèar 12 33,754 37,087 NET CURRENT ASSETS 133.128 87,414 TOTAL ASSETS LESS CURRENT LIABILITIES 1,478,129 1,432,415 CREDITORS Amounts falllng due after more than one year 13 336,801 367,437 NET ASSETS 1,141,328 1.064,978 FUNDS Unrestrlcted funds: General fund Capltal fund 18 123,354 979,505 1,102,859 38,469 95,805 948.869 1,044,674 20,304 Re8trlcted funds TOTAL FUNDS 1,141.328 1,064,978 The charitable company is enlilled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025 in accordance wilh Section 476 of the Companies Act 2006. The members have not required the company lo obtain an audit of its financial slalements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their re8pon8lbllltleg for: la) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and Ibl preparing financial slatemenls which give a Ifue and fair view of the slate of affairs of the charitable company as al the end of each financial year and of its surplus or deficit for each financial year in accordance wilh the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating lo financial statements so far as applicable lo the charitable company. The notes form part of these financial slatemenls Page 10 conv...
PRUDHOE COMMUNITY PARTNERSHIP {REGISTERED NUMBER: 05757621) BALANCE SHEET- continued 31 MARCH 2025 These financial statements have been prepared in accordance with the provisions applicable lo charitable companies subject lo the small companies regime. JO Sexi The financial statemenls ere approved by the Board of Trustees and aulhorised for issue on......... and were signed on ils behalf by.. Ms C L Warburton - Trustee P Murray . T stee The notes form part of these financial statements Page11
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company. which is a public benefit enlily under FRS102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) {effeclive 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. Financial reporting standard 102 - reduced disclosure exemptions The charitable company has taken advantage of the following disclosure exemptions in preparing these financial stalemenls, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. the requirements of section 7 Statement of Cash Flows. Income All income is recognised in the Statement of Fin8ncial AGliviliès once the charity has enlitlemenl to the funds, il is probable that the income will be received and the amount can be measured reliably. Voluntary income including donations and grants are recognised where there is entitlement, certainly of receipt and the amount can be measured with sufficient reliability. Income from charitable aclivilies is recognised as earned under contracl or where enlillemenl to grant funding is subject lo specific performance conditions. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity lo that expenditure, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can bè measured reliably. Expenditure is a¢Gounlèd for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. Where costs cannot be directly allribuled lo particular headings they have been allocated to activities on a basis consislenl with the use of resources. Grants offered subject to conditions which have not been mel al the year end dale are noted as a commitment but not accrued as expenditure. Tanglble flxed a88et8 Depreciation is provided at the following annual rates in order lo writé off each asset over ils 6slimated useful life. Long Leasehold - not provided Fixtures and fittings - 250/0 slraighl line Investment property Inveslmenl property 15 shown al most fecenl valuation. Any aggregalg surplus or deficit arising from changes in fair value is recognised in the Slalement of Financial Aclivilies. Taxation The charily is exempl from corporation tax on ils charitable aclivilies. Fund accountlng Unreslricled funds can be used in accordance with the charitable objectivities at the discretion of the Iruslees. Reslricled funds can only be used for particular reslricled purposes within the object of the charity. Restrictions arise when specified by the donor or when the funds are raised for particular reslricled purposes. Page 12 conv.,.
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 1 ACCOUNTING POLICIES - contlnued Fund accounting Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Penslon costs and other post-retlrement benefits The chari18ble company operates a defined contribution pension schemè. Contributions payable lo Ihe charitablè company's pension scheme are charged lo the Slalement of Financial Activities in the period to which they relate. 2 INVESTMENT INCOME 2025 2024 Rents & service charges 160,520 139.752 Breakdown of investment inGome Rent8 and Service charges 2025 2,024 General fund Spetchells fund 26.398 134,122 24,144 115,608 Total 160,520 139,752 3 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 4) Totals General charitable activities 95,920 95,920 Page 13 conv...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 4 DIRECT COSTS OF CHARITABLE ACTIVITIES Breakdown of expendlture beteen funds General Spetchells Other 2025 2024 Staff costs 2.000 18,465 21,837 6,435 1,770 16 20,230 2,864 1,080 20,465 21,837 6,435 1,770 16 20,230 2,864 1,080 21,799 20,090 5,356 3,633 {35} 24,676 2.864 539 Insurance Telephone Printing, stationery & advertising Cleaning & maintenance Accountancy Professional fees Depreciation Office costs Interest Other costs Dèvelopment activities Grants to institutions 135 1.419 5,676 413 1,554 5.676 1,293 12,700 933 6,157 1,001 15,500 880 12,700 15,715 80,205 95,920 102,513 5 NET INCOME I IEXPENDITUREI Net incom8 1 lexpendilure) is stated after charging I Icredilingl.. 2025 2024 Depreciation - owned assets Independent examiner's fees 1,500 1.500 6 TRUSTEES, REMUNERATION AND BENEFITS There were no trustee's remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Tru8tees' expense8 There were no Iruslees, expenses paid for the year ended 31 March 2025, nor for the year ended 31 March 2024. Page 14 conll...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 7 STAFF COSTS 2025 2024 Wages and salaries Other pension costs 19,998 467 20,465 21,331 468 21,799 The average monthly number of employees during the year was as follows.. 2025 2,024 Management and adminislralion No employees received emoluments in excess of £60.000. 8 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Reslricled funds Total funds INCOME AND ENDOWMENTS FROM Oonalions and legacies (2811 8,293 8,012 Investment income Other income 160,520 3,738 160,520 3,738 Totsl 163,977 8,293 172,270 EXPENDITURE ON Charitable activities General charitable activities 95,920 95,920 Nel gains on investments NET INCOME (EXPENDITURE) 68.057 8.293 76,350 Transfer between funds Net movemènt in funds 68,057 8,293 76,350 RECONCILIATION OF FUNDS Total funds brought forward 1,044,674 20,304 1,064.978 TOTAL FUNDS CARRIED FORWARD 1,112,731 28.597 1.141,328 Page 15 conu...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 9 TANGIBLE FIXED ASSETS Fixlur&s and fittings Long leasehold Totals COST As al 1 April 2024 and 31 March 2025 1.117,500 62.534 1,180,034 DEPRECIATION As at1 April 2024 62,534 62,534 Charge for year At 31 March 2025 62,534 62,534 NET BOOK VALUE At 31 March 2024 1,117,500 1,117.500 Al March 2025 1,117,500 1,117.500 The Spelchells Centre was valued in February 2017 al a commercial market value assuming vacant possession al £750.000. The Iruslees consider Ihal because of the length of the lease, the security of mosl tenancies 8nd the social value of the building lo the community, the fair value of the building is £1.117,500. 10 INVESTMENT PROPERTY FAIR VALUE As 1 April 2024 and March 2025 227,500 NET BOOK VALUE At 31 March 20245 227,500 227,500 11 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade deblors Other debtors Prepaymenls and accrued income 4,561 25 1,702 6,288 4,625 25 1,702 6,352 Page 16 conv...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2025 12 CREDITORS - AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Bank loans and overdrafls (see note 141 Trade creditors Social security and other taxes VAT Other Creditors A¢cruals and deferred income 28,694 2.878 62 1.085 467 568 33,754 28,694 3,055 47 4.266 457 568 37,087 13 CREDITORS- AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2025 2024 Bank loans (see note 14) 336,801 367.437 14 LOANS An analysis of the maturity of loans is given below: 2025 2024 Amounts falling due within one year on demand.. Bank loans 28,694 28,694 Amounts falling between two and five years 8ank loans 1 2 years 28,694 28.694 Amounts falling belween two and five year5 Bank loans 2 - 5 years 86,082 86,082 Amounts falling due in more than five yeais Repayable by inslalmenls Bank loans more than 5 yrs by inslalmenl Repayable other than by inslalments.. Bank loans more than 5 yrs non-inslalmenls 222,025 252.661 15 ANALYSIS OF NET ASSETS BETWEEN FUNDS 2025 Total funds 2024 Total funds Unreslricled funds Restricted funds Fixed assets Investments Current assets Current liabilitie5 Long term liabilities 1,117,500 227,500 128,414 (33,754) 336,801) 1,102.859 1,117,500 227,500 166,883 (33,7541 336,801 1,141.328 1,117,500 227.500 124,501 {37.0871 (367,437 1,064,978 38,469 38.469 Page 17 conv...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 16 MOVEMENT IN FUNDS Net Movement in funds Transfers between funds At 0.04.24 Al 31.3.25 Unrestrictèd funds General fund SpelGhells fund Capital fund 95,805 10,402 57,655 17,147 (57,655) 30.636 (9,8721 123,354 948,869 1,044.674 979,505 1,102,859 68,057 Restricted funds Anglè Scott Christmas Appeal Arts Workshops Borderlands . Front Street Borderlands The East Climate Change Community Chest Community Events- Arts and Culture Coronation Community Fund Credit Union Ebenezer Chapel Employment Skills & Advice Centre Estelle Library Fund Event Support Flowerbed Project Green Bullerfly Project Let's Gel Digital Library Workshops MLIS Gordon Stewart Grant for Sculpture Music by the river NCC Local Improvement Scheme Pocket Park Prudhoe & Oislricl Local History Society Prudhoe Community Hub Queens Jubilee Fund Radio Prudhoe Space for Nature Spelchells Welcome Dèsk Upcycling project VE80 VIP Income Warm spaces 615 550 1,555 18,750 11,162) (195} 1,400 43 658 550 2.955 19,096 7,601 2,101 4,494 1,400 346 5,408 12.3821 5,847 355 203 3.355 4,678 (2.7531 (3551 (203} {1,019) 12,915) 1571 {3831 14341 {2,921} (245) 556 {463) 2,915 57 383 150 3,850 245 284 (929} 500 2,000 483 (1,1081 1657} (1,609) {11,748) 500 2,000 16151 {2,1191 3,410 1,176 {10,791} {530) 765 3,510 2.785 111,6051 306 632 2,019 611 118 1,916 1568) (1,7761 557 12,562 (3061 (136) 745 (1,619) 1,241 400 611 11181 17601 4,508 {1,000) 1,156 4,508 1.000 20.304 8,293 9,872 38,469 TOTAL FUNDS 1.064,978 76,350 1.141,328 Page 18 conll...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 MOVEMENT IN FUNDS - continued Nel movement in funds, included in the above are a5 follows.. Incoming re50ur¢es Resources expended Movement in funds Unrestricted funds General fund Spelchells fund 26,117 137,860 15.715 80,205 10,402 57,655 183,977 95,920 68,057 R6Strlcted funds Angle Scott - Christmas Appeal Arts Workshops Borderlands - Front Street Borderlands- The East Climate Change Community Chest Community Events - Arts and Culture Coronation Community Fund Credit Union Ebenezer Chapel Employment Skills & Advicè Cèntre Estelle Library Fund Event Svpport Flowefbed Project Green Bullerfly Project Let's Gel Digital Library Workshops MLIS Gordon Stewart Grant for Sculpture Music by the river NCC Local Improvement Scheme Pocket Park Prudhoe & District Local History Society Prudhoe Community Hub Queens Jubilee Fund Radio Prudhoe Space for Nature Spelchells Welcome Desk Upcycling project VE80 VIP Income Warm spaces 815 550 1,555 18,750 615 550 1,555 18,750 {1,162} 1195) 1,400 1,162 195 1,400 556 556 284 284 {929) 929 500 2.000 483 500 2,000 483 11,108} (6571 11 ,6091 (11,7481 1,108 657 1,809 11,748 745 745 {1,8191 1,619 118 11181 27,438 19,145 8,293 TOTAL FUNDS 191.415 115,065 76,350 Page 19 conll...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS _ continued FOR THE YEAR ENDED 31 MARCH 2025 16 MOVEMENT IN FUNDS continued Comparatlvo8 for movement in funds Net Movement in funds Transfers between funds Al 0.04.23 At 31.3.24 Unrestricted funds General fund Spet¢hells fund Capital fund 85,304 6,002 34,654 4,499 134,654} 30,155 95,805 918,714 1,004.018 948,889 1,044.674 40.656 Restricted fund8 Angle Scott - Christmas Appeal Arts Workshops Bordèrlands - Front Street Borderlands - Thè East Climate Change Community Chest Community Events - Arts and Culture Coronation Communily Fund Credit Union Ebenezer Chapel Employment Skills & Advice Centre Estelle Library Fund Event Support Flowerbed Project Green Bullerfy Project Let's Gel Digital Library Workshops MLIS Goidon Stewart Grant for Sculpture Mu51¢ by the river NCC Local Improvement Scheme Pocket Park Prudhoe & District Local History So¢iely Prudhoe Community Hub Queens Jubilee Fund Radio Prudhoe Space for Nalure Spetchells Vvelcome Desk Upcycling project VE80 VIP Income Warm Spaces 1,400 540 4,918 11,479) 1,400 346 5,408 {2,382) 5,847 355 203 11941 490 (903) 5,847 355 203 2.915 469 480 2,915 57 383 150 3,850 745 {412) 1971 150 3,850 500 245 2,836 13,366) 765 11,1121 1224) {7,484) {530) 765 3,510 2,785 112,1051 306 632 2,019 611 118 1,916 4,622 3,009 (4.6211 306 632 1,194 825 611 1,575 1.916 11,4571 1,000 1.000 21,631 1,327 20.304 TOTAL FUNDS 1,025,649 39,329 1.064,978 Page 20 conu...
PRUDHOE COMMUNITY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 16 MOVEMENT IN FUNDS continued Unrestrlcted funds General fund - any income gifted or granted lo PCP for ils general aclivilies, including the rental income from two rental properties transferred under the 'Assel transfe¢ procedures from Northumberland County Council lo PCP. Capital fund - the value of the fixed assets and investment properties less any associated borrowings. Restricted funds Specific funds for community projects, where the Partnership has been successful in il's bid for external funding. 17 RELATED PARTY DISCLOSURES Thére were no related party transactions for the year ended 31 March 2025. 18 MEMBER LIABILITY Th& charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contributè an amount not exceeding £1 towards the assets of the charity in the event of liquidation. Page 21
PRUDHOE COMMUNITY PARTNERSHIP DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 INCOME AND ENDOWMENTS Donations and legacies Donations Grants (281} 53 (281) 53 Investment Income Rents & Service charges 160.520 139,752 Other incorne Spelchells other income 3,738 3,364 3,738 3,364 Total In¢omlng resour¢e8 163,977 143,169 EXPENDITURE Charitable activitles Wages Pensions Utilities Insurance Telephon8 Postage and stationery Sundries Cleaning & m8inlenan¢e Officè expenses Accountancy Independent examiners fees Legal and professional fee5 Bank charges Developrnenl activities Fixtures and filtings Mortgage interest Grants to inslilulions 19,998 467 21,837 6.435 1,770 16 1,293 20.230 1,554 1.364 1,500 1,080 21,331 468 20,090 5,356 3,633 135) 779 24,676 933 1,364 1.500 539 222 15,500 12,700 5,676 6,157 Total resources expended 95,920 102,513 Net income 68,057 40,656 This page does not form part of the stalulory financial statements Page 22