Company registration number: 05256570 Charity registration number.. 1118049 St. Peter's Pavilion Limited {A company limiied by guarantee) Annual Rerrtjrt and Financijl Statements for the Yeor Ended 31 December 2023
St. Peter's Pavilion Limited Contents Reference and Adminislrative Deiails Strate8ie R¢p)rt Twstees, Report 3104 Staiemefti of Trustees, ResJx)nsibililies Independent Examinerfs Ren Stotem¢nt of Financial A¢tivitie5 Balance Sheet Note5 to the Finart¢ial Statements 9t017
St. Pet¢r's Pavilion Limited Rcf¢rence and Administrntive Details Truste¢5 Miss M Farrimond Mr B Taylor Mrs A Williams Mr P Hursi Mr F Allen Mr A Bostock Mr M Hardman Mr K Hayes Secretary Mrs A Williams Prlncipal Offlee Hursi Sireet Hindley Wiuan WN2 3DN Regl$t£red Offiee Hursi Sireer Hindley Wigan WN2 3DN The charity 15 in¢orra1¢d in En8land. Company Registratlon Nymbtr 05256570 Charlty Reglstrafion Number 1118049 Sollcitors Heaih Son5 & Broome 74 Old Church Street Manchester M40 2JD Independent Examiner PAHull&Co Beech H04Jse 23 Ladies Lane Hindley Wigan WN2 2QA Page I
SL Pet¢r's Pavilion Limited Strategi¢ Report for the Year Ended 31 December 2023 The trusiees, who are directors for ihe prse5 of company law. pre5enr iheir Mrategic report for th¢ year ended 31 December 2023, in compliance with s414C of the CompHni¢5 Aci 2006. The Stragi¢ report was approved by the twstees of the charity on 23rd Sewember 2024 and signed on its behalf by., Mr Bl&ylor Trustee Page 2
St. Peter's Pavilion Limited Trustees, Report The irust¢e& who a directors for the purposes of company law. present the annual rewrt together with the rinancial siaiements of the chwitttble company for the year ended 31 Dec¢mlxr 2023. STRUCTURE, GOVERNANCE & MANAGEMENT Governing Document The charity is controlled by tts goveming dmenE a deed of trusl and ¢onsiiiute5 a limited company. limited by guardntee. as defined by the Companies Aci 2006. Organisatlonal StrucIre The Executive Cojnmitiee are responsible for the day io day running of the Pavilion ond the Members have responsibility el¢ciing the Exe¢uiiwe committee and the financial operation of ihe Pavilion. Rlsk M8n8&em¢n¢ The trustees have a duty 10 review the risks io which ihe charity is exwd and to ensure appropriate conlrols are in place io provide reasonable assurdnc¢ againsi frJud and eOr. Th¢ ITUStee5 confimi that they have revk¢wed ihe major risks to which the charity is exposed and have established Systems to mitigaie these risks. These include.. A duly on the trustees to consider both the nature and ihe l¢v¢l of the risk associated with new or continuing activiiies. Planninbj to understand and mitigate fin4n¢ial risk wtthin the organisation including r¢gular ¢on5ultation with the accountanis 10 Ihe company on any mailer5 identified as poi¢ntially &>iing rise io financial risk. Maintaining adequaie insurance ¢over for all orgonksaiional adkvities and pr¢mise$. OWECTIVES AND ACTIVITIVIES Objeetlve$ and Aims Th¢ prime obj¢¢tive of St Petels Pavilion is to foster and promole communiry development by providing opportunities for recreation. leisure. Social interaction and sport for Ihe local and wider ¢omrnuniiy chat can be undertaken in a safe and nort-threening environment irrespec(ive of age. ability. sex. race or r¢ligion. In order to achieve this. we have an agreed consiilulion and have fom)ulaEed policies on Child Protection. Equal Opportunities. Bullying and Race Dixrimination and Valuing Culturdl Diversity. There is a formal Complaints Procedure and a Code of Conduct for th¢ Mana8emeni Comrnittee. The aim of (he projcct is to provide a brand new pavilion with changing roorns and a wmmunity hall, a children's play area, multi-use game5 prea, community garden, pemianeni prdctice nds. c8r park and the complete f¢ncing of the recreation grouThd. Page 3
St. Peter's Pavilion Limited Signific8nt Activltles In 202J. the pavilion continued to flourish with tK)okings Ix)th dayrime and evening5 1 weekends rdurning a high occupancy. W¢ now have many regular Clieftts wilh th¢ NHS using us for Blood donation days several days a year, during the yeai the day-io-day busines5 aetivities urned Strong posr covid. The Pavilion user wups continue io lake full use of iheir time at the Pavilion with the Rugby club continues lis massive growth having its membcrship increase &8ain this year. the club now field 6 8ir15' team. oiher user groups Continued to Use the facility for their activities. During ?023 we coniirtued our refreth of (he Pavilion adding to and ¢nhon¢ing our facilities. In November we also rdn our annual Firework eveni ihis is wamily welcomed by the Imany attendees. we ke¢p the pricing ai a v¢ry reasonable level 10 allow maximum affordabiliry io our local Community. This year we upgmded our Rugby Pitch floodlighis to LED ihis will offer a subsiantial saving when running th¢s¢ lights in the winter monihs. Volunteers The ChAriiy continu¢5 to rely on the effort5 of members of the committee and oth¢T volunieers assistin the Centre manager to ensure the smooth Tunnin8 of the Pavilion. ACHIEVEMEIYT AP*D PERFORMANCE Our Groups Following the pandemi¢ our groups have be&) welcomed back to the Pavilion and each enjoy their activities on site. FUTURE DEVELOPMENTS In 2024 we will coniinue our site r¢Trovations and improvemenis aiming to make ihe Pavilion more 5usiainable adding more Solar Panels& bai(ery storage to ourexisiing SySl¢rn. We will look to add EV parking wliicli should also provide a new income Str¢grn. Page 4
St. Peter's PavilioD Limited S¢atem¢nt of Trusttes. Responsibilities The irustee5 (who are also the directOTS of St. Petels Pavilion Limited for ihe purrA)ses of company lawl ar¢ Tesponsible for preparing the trustees, rewjrt and the finan¢i81 sthiements in accordance with ihe United Kingdom Accounting Standards (United Kingdom G¢nerdlly Acwted Accouniing Praciice) ond applicabl¢ law and regulations. Company law requires the tnJ5tees to prepare financial ststernents foreach financial year. Under company law the tru5tee5 musi not approve ihe financial $iaiemenlS unless they are saiisfi¢d that they give 8 true and fair view of (he slate of affairs of th¢ Charlble ¢ompany and of its incoming resources and application of r¢sourees. includin& its in¢ome and exp¢ndiiure. for thai period. In preparin8 th¢s¢ financial 5wements. Ihe trustees are requir¢d to.. seleet suitable hccounting wjlieies and opply them consislerttly; observ¢ the meth¢xls and principles in the Chariii¢5 SORP: make jiidbiemenis and estimates ihat are reasonabl¢ and prndent: siaie whether applicable UK Accouniin8 Standards have t¢en followed, 5ubjeci io any material departures disclosed and explained in ihe fhnancial siaiements: and prepare Ihe financial siatement5 on the going concern b451$ unless it is inappropriate to presume that the chariiable company will Continue in business. The Iru5tees ar¢ responSLble for keepin¥ adequ¢ aecouniing CordS th ore sufficient to Show and explain the charitabl¢ company's Iransaeiions aThd disclose wilh reasonable ¢UntY ai any time the financial position of Ili¢ charitable company and enable them io ensure thai Ihe financial siaiemenis Comply wilh the Companies Act 2006. They ore also responsible for safeguarding the asseis of the chariiable ¢ompany and hence for ¢aking reasonable steps for ihe preven¢ion and detection of fraud and oth¢r irregulariii¢s. Approved by the trustees of the charity on 23rd Sep¢ember 2024 signed on 11$ behalf by.. Mr B Taylor Trust¢¢ Page 5
St. Peter's Pavilion Limited Independent Examiner's Report to the trustees of SL P¢ter's Pavilion Limited I report on the accounts of the charity for the year ended 31 December 2023 which are sei out on page5 7 to 17. Respective responsibiliiies oftrustees 8nd ex#mintr The trustees (who ar¢ also the direciors ofihe company for ihe purposes of cornpany lawl are responsible for the prepardiioti of ihe accounts. The Irusiees ¢on5ider thal an 8udil is not required for Ihis year under Section 144121 of the Charities Aci ?0 I l {Ih¢ 2011 Aci) and thai an independent examinaiion is needed. Having sat15fied myself Ihat the charity i5 not subject to audii under company law and is eligible for independent examination. it 15 my responsibility to.. examine the accounts under section 145 of th¢ 2011 Aci. to follow the procedure5 laid down in the general Direciions given by ihe Charity Commission under Section 14515Xbl of the 201 l Act.. and to stt whether particular matter5 hive Come io my attention. Bas15 of independeni ex#mintr'5 report My exaniination wa5 carried oui in accordance with ihe general Direction5 given by the Charity Commission. An exalnination includes a review of ihe accounting records kepi by ihe charity and a MpariSOn of the accounts PT¢senled wilh those records. li also includes consideration of any unusual iteins or dtsclosures in the accounrs, and seeking explanaiitsns from you as irnsiees conc¢rning any such mailers. The procedures undertak¢ii do not provide all the evidence thai would be required in an audii and consequently no opinion is given as to whether th¢ ccounis present a 'lrue and fair view. and the rewjrt is limited to th03¢ mattet3 set out in th¢ stal¢ment below. Indcpendeni examiner'5 s¢atemeni In ¢onne¢tion with my examinaiion. no matter h&q ¢om¢ io rny attention.. { l ) whi¢h gives me reasonable ¢ause lo believe ihat in any material Tespeci the requirements.. to keep aecounting records in accordance wilh section 386 of the Companies Aci 2006. and to prepare accounts which accord with the aecouniing records. comply with the accouniing r¢quir¢menis ol Section 396 of the Companies Aei 2006 and with ihe method5 and principles ofthe Stat¢m¢nt ofRecoinn)end¢d Praciice.. Accountin8 and Reporting by Charilie5 have not b¢eo met.. or (2) io whi¢h, in my opinion, attention Should be drawn in order to enable a proper understanding of ih¢ accounts to be reaehed. M T Hotlier5all FCA Beech House 23 Ladies Lane Hindley Wigan WN2 2QA 23rd September 2024 Page 6
St. Peter's Pavilion Limited Statemenl of FinAncig1 Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Accounl 2nd Statement of Total Recognised Gains and Losses) Unrestrieied funds Total 2023 R¢stricftd funds Note Income and Endowments from: Donations ond legacies Other Iradinby acliviiies Investment iD¢ome Other Incoming SOUrCeS 2.804 278.811 548 42.363 2,804 278.811 548 42,363 Total In¢ome 324.526 324,526 Expenditure on: O¢h¢r tradink? activhlies 337.641 (337.641) Total ExpenditUT¢ 337.641 Net10$5 Net movemeni in funds ReconciliAtlon of fund$ Tol&l fund$ brou8hi forward Toral funds carried forward -£252,613J 265.7?8 Unrestrleied funds 866.040 613.427 14 866.040 600,312 Restrlctcd funds Tot412022 Not¢ Income Endowmenis from: Donations and l¢bTacies Other tradin8 ae¢iviiies Investment incom¢ Other Income resources 3.954 201.879 108 3,954 201.879 108 53,910 Total Income 259,851 259,851 Expenditurt on: Othvr Ifiidinb7 activities 281.247) 281,247) Total Expendirure 281247 281.247). Net loss 21.396 21,396). Net movement in funds (21.3961 (21,3961 Reconciliation of funds Total funds brought forward Toial funds carried forward 231.517 866.040 634.823 14 225.613 866.040 613.427 All of the charity'5 activities d¢rive from continuing operaiiorLS during ihe above two peri¢)ds. The fund5 breakdown for 20ll? is shown in Dote IS. Page 7
St. Peter's Pavilion Limited (Registration number: 0.$256570) Balan¢e Sheet as at 31 December 2023 2023 2022 Note Fixed assets T&n¥ible as5¢ts 563.146 544,463 Current assets Stocks Debtor5 and Prepayments Cash at bank and in hand 12 8.500 18.564 41,087 68,151 7,000 17,782 97.9?6 117,708 Creditors: Amounis falllNK due within one year 14 (30.985) _48.745) 37,166 P4et current I1$ 68.963 Net assets 600312 613.427 Funds of the eharbty: Restricted funds 866,040 866.040 Unre$¢ricted Income fundi Unre5tricied funds .(265,728 (225,613J Total funds 15 600,312 613 427 For ihe financial year ¢nding 31 December 2023 the charity was entitled ro exempiion froin audit under section 477 01 the Companies Aci 2006 relating small companies. Directors, responsibilitie5'. The members have AQt requiTed the charity io obtsin an audit of its accounts for the year in question in a¢¢oTdance wilh section 476: and Th¢ dir¢ctOTS acknowled8e their respon5ibiliiies for complying Wlth ih¢ Tequirements of the Act with re5Ct to accounting records gnd the pparatiOn of accounts. These accounts have been prepared in OrdanCe with the provisions applicable lo companies sybj¢¢t to the small companies regime. The financial stat¢m¢nt5 on pages 7 to 17 wer¢ approved by the trust¢e5, and authorised for issue on 23rd September 2024 and signed on their behalf by.. Mr Trustee aylor Pa8¢ 8
St. Peter's P4vilion Limittd Notes to the Financial Statements for the Year Ended 31 December 2023 I Charily Status The charity is a charity limited by guardntce and coTrs¢quently does Dot have share ¢apital. Each of the truste¢5 IS liabl¢ to coniribute an amount not exceeding £Nil iowards the assets of the Charity in the event of liquidation. 2 Accountlng polities Summary of Slgnificant a¢countlng policits and key aceounting estimates The principal accounting policies applied in ihe preparation of ihe5¢ financial s(ai¢nienis are set out below. These polici¢s have been consisienily applied to all ih¢ years pres¢nied. unless orherwise stor¢d. St8tement of compllmnce The financial statem¢nls have been prepared in accordance with Accouniing and Reporting by Charities: Siatemeni of Rccomm¢nded Praciice 8pplicable io ¢hartlies preparinb iheir ac¢oun15 in accordance wilh lh¢ Financial RepoNin¥ Siandard applicable ITh Ihe UK and Republic of Ireland IFRS 102) {¢ffe¢iive l January 20151 (Charities SORP IFRS 1021), the FinaThcial Reporting Standard applicable in lh¢ UK and Republic of Ireland IFRS 102) and the Companies Aci 2006. Basis of prtpar*tlo St. Peier's Pavilion Limited meets ihe definiiion of a publi¢ benefii entity under fRS 102. Asscrs and li&biliii¢s are iniiially recognised ai historical cost or iran5ac¢ion value unless othenvi5e stated in (he rel¢vani accounting policy notes. GolDg coneern The trustees consider that there are no material uncertainties about Ihe charity's ability to Continue as a goin concern nor any significant areas ofun¢ertointy ihw affe¢t the carying value of as3¢ts held by the ¢harity. Exemption from preparlng a c8sh flow statement The ¢harity opted lo early adopt Bulleiin I publi$hed on 2 Febrnary 2016 and have therefore included a Cash flow staternent in these financial slatemenis. Income endowments All in¢ome is rO¢onISed on¢¢ the charity has entiilement io the incom< li is probabl¢ thai ihe income will be received and the amount of the income receivable can be measured reliably. DonoiloNs andlégueles Donations are recogni5¢d when the ¢h2rity has been notifled in writin8 of boih the amoun( and settlement datc. In the evellt that a donation is subject to condition5 thai require a level of performance by th¢ charity before the charity is entitled to the funds, the income is deferred and not recognised un¢il either those ¢onditions are fully mei. or th¢ fulfilment of those condition5 is wholly within the control of th¢ charity and it is probablc that these condiiion5 will be fulfilled in th¢ reporting peri¢)d. Invesiment income Dtvidends are reco8nised once the dividend h&5 been declared and notification has been received of the dividend due. Page 9
St. Pet¢r's Pavilion Limited Notes to the Financial Statements for the Year Ended 31 Decemb¢r 2023 Expenditure All expenditure is reco¥nised once ihere 1$ a legal or consiwciive obligation to that expendilure, it 15 probable selllemeni is required and the amount can b¢ m¢o$ud reliably. All cosrs are allocated to the applicable expenditure heading rhai aggregate similar costs io Ihai category. Where cosis cannot be directly auribuied to particular h¢adings they have been alli)Ted on a basis consi5r¢ni wilh ihe use of resourc¢5, Wlth ceniral staff costs allocated on the ba515 of time speni. and depreciaiion cliarges allocated on the rs)nion of ihe ass¢t's use. Oiher support costs are allocated b&sed on the spread of staff t0515. Rdl&lhgfunds These are ¢ost5 Incurd in artracting volunwy income. the m4na8ement of irtvestrn¢nts and ihose incurred in trading activities Ihal rdise funds. Support eoqts Support costs include central fun¢iions pnd have been allocated to activity cosi cate8ori¢5 on a basis consistent with ihe Iise of resources. for example, allocating property costs by floor oreas. or per capill Staff costs by the time spent and oiher cosis by their y5age. TaxatSon The charity is considered io pass the te5t5 set out in PAfdgrnph I Schedule 6 of the Finan¢c Act 2010 and therefore it meets rhe definition of a chariiable company for UK corporaiion 18K PUTw>ses. A¢¢ordingly, the eliarily is poieniially exeTnpt from (axarion in respeei of income or capital bains re¢eived wiihin caietsTories covered by Chapter 3 Part I l of the Corporation Tax Aci 2010 or Section 256 of the Taxaiion of Charseable Gain5 Act 1992, to the exi¢nt that such income or 8ain$ gre applied exclusively io charitable purpose5. Tanglble flxed Asseti Individual fixed assets ¢osting £?50.00 or more are ini¢ially yeded at ¢O$L les5 any subsequent a¢¢umulated depreciation and subsequent aecurnulaied impaimient losses. Depreeiation and arnortisation Depreciation is provided on ian¥ible fixed sets soas to write off the cost or valuation. less any e$tirnated residual value, over their expeei¢d useful economic lif¢ 15 follows.. Stotk Siock is valued at th¢ lower of cost and ¢stimated selling price 1¢$$ ¢ost$ lo complete and sell, after due re¥ard for obsolete and slow moving stocks. Cost is detennined using ihe firsi-in. firsi-i)ut {FIFOI. Trade debton Trade d¢btors are amounts due from cusiomers formerthandise 501d or services perf(vmed in the ordinary ¢OUTS¢ of busine$5. Trydd¢ debtors are recognised irtitially ai the transaction price. They are subsequ¢nily measured at #tnoi1i5¢d c05t usin the effective int¢r¢si method, less provÉsion for impaimient. A provision for Ihe impaimieni of trade debtors is established when there is objectiv¢ ¢viden¢ethat the charity will not be able tocol1t all amounts dueaccording to the ori8inal i¢rms of the receivables. Pdge 10
St. Pet¢r's Pavilion Limlted Notes to the FiD¥neial Statements for the Year End¢d 31 December 2023 Cash and cash equivalents Cash and cash equivalenis cornprise cash on hand and call deposits. and other 5hort-iemi highly liquid investments thai are Teadily convertibl¢ to a known of cash and are subiecr io an insignificani risk of chang¢ in value. Trsde ereditors Trade crediiors are obligation5 to pay for goods or services that have been acquired in the ordinary course of bu5ine5s from suppliers. A¢count5 payable are classified as current liabilities if the charity do¢s not have an unconditional right. at the end of the reporting period, io defer seulemenr of the crediior for at least Iwelv¢ months aftcr the repor(ing date. If there i5 an unconditional righi defer 5ettlemeni for at least twelve months after th¢ reporting date. they are presenied as non<urreni liabilitles. Trdde creditors are recognised initially ai the transaction price and subsequently Inasured at amortised cost using the effective interest mdhod. Borrowings Interesi-bearing borrowings are iniiially recorded ai fair value. nel of iransaction eosts. Inierest-beaTing borrowings are subseqLienily carried ai amort15ed cost. wilh the difference bdween th¢ proceeds, D¢t of iransaclion cosis. and the amount dut on redemption being r¢co8nised as a char8e to (he Sthiement of Financial Activitie5 over the period of the relevant borYowin& Inieresi ¢xpense is recognised on the basis of Ihe effedive interesl method and 1$ included in interest payable and similar charge5. Borrowings are classified as eurrenl liabilities unless the charity has an unconditional right io defer s¢ttlunent of Ihe liability for at least twelve month5 after Ihe reporting dale. Fund struciure Unresiricied income funds are general ndS thai are available for use ai the trustees. dIretIOn in furtherance of the objeciives of the Chlty. Restricted income tunds are those donated for use in a panicular grea or for specific PUT5¢5. the use of whieh is resiri¢¢ed to that ar¢a or purpose. Financial instruments CIu551J7eullon Financial assets and financial liabiliiies are r¢eognised when the charity becomes a party to the contractual prov15ions of ¢he in5trumeni. Financial liabilities and equiiy instruments are classified according to the sub5tan¢e of the coniraciual arranb?emenis ¢niered into. An equsty insirumeni is any ¢oniract that evid¢n¢es a residual iniere5t irt the a5set5 of the charity after deducting all of its liabilities. Pag¢ll
St. Peter's Pavilion Limited Notes to the Finaneial Statements for the Year Ended 31 December 2023 Recognltlon me4suremeni All financial assets and liabiltries are initially measured ar transaciion price {in¢luding rransaction cost5). except for those financial assets classified a5 al fair value through profEt or10s& which are initially mea5ur¢d at fair value {whi¢h is normall). the trdnsa¢lton price excludin8 trdll5aciion cosis). unle55 the arrdngemeni constitutes a financtng transaction. If an arrdngemeni con51itutes a finan¢ing iransaciion, rhe financial asset or financial liability is measured ai the preseni Value of th¢ future payments discount¢d at a market ratr of inter¢st for a similar debt instrument. Financial assets and liabiliti are only offsei in th¢ staiemeni of financial p05ition when, and only when there exists a legklly cnforceable righi to Set off the Tecognised amounts and rhe charity intends either 10 Settle on a net basis. or ¢0 realise ihe asset and settle the liabiliiy simultaneously. Financial assets are d¢re¢ognised when and only when a}the contradual rights to the cash flows frtsin the financial asset expire or are settl¢d. bl Ihe chaTlty transfer5 ts) anoiher party substantially all of the risk5 and rewards of ownership of the financial asset, or cl Ihe chariiy. despit¢ having rnained som¢. not all, significant risks and reward5 Of ownership. has transferred control of ihe asset to another party. Financial liabiliti¢$ are derecognised only when th¢ obliwion s¢Ified in the ¢ontTrct is discharged. c8n¢elled or ¢xpires. Pdge 12
St. Peter's Pavilion Limited Notes to the Financial St8temenls for the Year Ended 31 December 2023 Debl inslruments Debt instruments which meei the following condition5 are subsequently Mured at amortised c051 usin8 the eff¢ctive inteTest method.. la) The contrnctual retum io the hold¢r 15 li) a fixed am(MLni' (ill a positive fixed rdre or a posiiive variable rate; or (iiil a Combination of a )SItiVe or a negative fjxed raie and a posiiive variable rdte. (b) The contract may provide for repayments of Ihe principal or lh¢ relum io ihe holder (but not both) to be linked to a single relevant observable index of ¥eneral price inflation of ihe currency in which th¢ debt instrument is d¢nominated, provided such link5 are noi leveraged. {¢) Th¢ contraci may provide for a d¢t¢nninable variation of the rewm io the holder during the life of the instrlimeni, provided ihat lil the new rate satisfies condition {a) and ihe variation is not coniingent on future evenr5 other ihan I I l a chang¢ of a coTrtrdciuo1 variable rdie: l?) to proieci the holder against credit deierioration ofihe iS5uer.' (31 ch8n8¢s in levies applied by a central bank or arising from changes in relevant thxalion or law.. or {iil Ihe Thew raie is a market rate of inlerest and satisfies condition {al. Id) There is no coniraciual provision ihai could. by its iems, resuli in the hold¢r losin8 the principal amount or any inteT¢S1 aiiributsbl¢ lo ihe curreni periiMI or prior peri¢xls. (¢1 Coniractual provisions ihal pemil the issuer to prepay a debi instrument or pemit the holder io put it back 10 the i53u¢r before m8turity are not contingeni on future evenis. oiher thon to proieci the holder agaiilst th¢ crL'dii deierioraiion of the issuer or a Change in control of the issuer. or to protect the holder or issuer against changes in levies applied by a ¢¢nlral bank or ari5in8 from changes in relevani XatIon or law. If) Contraciual provisions may Ftmiil the exien5ion of ihe ierni ofthe debt instrument. provided that the reDJm io The holder and any other contractual provisions applicable during the exiend¢d iem) saiisfy the conditions of paragraphs (a) to Ic). Debt instrnmenls that are classified 45 payable or re¢tivable within one ye8ron initial reeognition and whieh meet the above Conditions are measured al the undi$¢ounied amouni of the cash or other consideration expected io be paid or received, nel of impaimient. Wirh ihe exeepiion of 50rne hedging instwm¢ni& oiher debt instrument5 me¢ting these conditions are measured at fair value ¢hrou8h profit or lo5$. Commitments to make and re¢eive loart5 which meet the conditions mentioned above are measured at cost (which may b¢ nil) less impaimieni. Invesimeiits Investments in non-convertible preference share5 and non-puttable ordinary or preference shares {where shares are publicly traded or their fair value is reliably measurdblel ar¢ measured ai fair value through profit or loss. Where fair value cannot be measured Teliably. invesmients are measured at ¢()st less impairni¢nt. Investments in subsidiarie5 and a5sociai¢s ar¢ measured ai ¢(Trst less impaimient. For investtn¢nt5 in subsidiaries acquircd for conssdcration includin8 the Kssue of 5h8res qualifying for merger relief, ¢ost Is measured by reference io the notninal value of the shares issued plus fair value of other consideration. Any premium is ignored. Page 13
SL Peter's Pavilion Limited Notes to Ihe Financial Stat¢ment5 for the Year Ended 31 December 2023 DerlvdilveJ7ll&nelalinslr¥ments The charity u5e5 derivative financial insmlments io reduce exposure io foreign exchange risk and interest rate movements. The charity does not hold or issue iierivative financial in5trumen¥s for speculative purpose5. Derivaiives are initially recogntsed at fair value the date a derivaiive coniract is entered into and are subsequently reme&sured io their fair valuc at each reponing date. The resulting gain or loss is recognised in statement Of financial aciiviiies immediately unless rhe derivative is de5ignat¢d and effeciive as a hedging instrumeni, in which everti the Irming of the recognition in sthternenr of financial aciivities depends on th¢ narure of the hedge relationship. Fulr meosuremenl The $1 evidence of fair value 15 a quored price foran identico10s5et in an aciive market. When quoted price5 are unavailable. the price of a recent Iransa¢tion for an ideThiical assei provides ¢vidence of fair value as long as the has noi been a siunifjcanl change in economic circumstanc¢5 or y significani lapse of lime since the iransaciion look place. If th¢ market is noi aciive and rcc¢nl trnns8¢irons of an identical asset on their own are noi a good estima1¢ of fair value, Ihe fair valu¢ is C51imakd by using a valuaiion t¢rhnique. 3 Income from donatlon$ and I¢cleS Totsl 2023 Tot¥1 2022 Gener41 Donations and lega¢i¢s; Donattons from individu&ls- Unrestricted Fund5 Donations from iThdividua15- Restricted Fund$ 2.804 2,804 3,954 2804 2804 4 Income from other tradlng 4ttivliles Unrestrl¢i¢d Tot41 2023 Tot81 G¢n¢r¥LI 2022 Trnding income: Income from 5Ale of donated goods and services Sales of good5 and services 123.630 123,630 97,255 104,624 201879 278.81 278.811 Pag¢ 14
St. P¢l¢r's Pavilion Limited Iyotes to ihe Financial Statements for the Year Ended 31 Deeember 2023 Unr¢5trieted funds 5 Investment income Totsl 2023 Total 2022 Getteral Interest receivable and similar income; Interest receivabl¢ on bank d¢posits 548 548 108 Unr¢stritted fund$ 6 Other Incoming Resources Total 2023 Total 2022 G¢nernl Grants received: 42.363 42.363 53,910 7 Iyet Ineomlng/ou¢%oln8 rnsources Net ouigoin8 TesouKes for the year include.. 2023 2022 Depreciation of fixed asse 51.369 8 Trustees remuneration and ¢xpense5 No Irusiees. nor any peTson5 connecied wilh them, have re¢¢ived any remuneration from lh¢ charity during the year. 9 St4ff eosts The aggregate payroll costs were as follows.. 2023 2022 Staff cost5 durlng th¢ ye8r were: Wages ond salaries 98.161 85,508 No employee received emoluments of more than £60.(W during the ye#r. Page 15
St. Peter's Pavilion Limited Noles to the Financial Statements for the Year Ended 31 D¢c¢mber 2023 10 TAX&tion The charity is a re8isteTed chariry and 1$ th¢r¢foTe exemw fN>m tsxati(ffi. I l Tangible flxed *55e¢s LAnd and buildin%s Furniture and equipment Total C051 At l January 2023 980.822 350,803 1,331,625 At 31 December 2023 I.6.060 395.616 1,045.621 Depr¢ciation Al l Januory 2023 Charge for the year 484.726 32.752 302.435 18.617 787,161 51.369 At 31 December 2023 517.478 321.052 838,530 Nel IM>ok valut A¢ 31 December 2023 488,58) 74.564 563,146 At 31 December 2022 496.096 48.368 544.464 12 Stock 2023 2022 Stocks 13 Debtorj 2023 2022 Trade debtors Prepayments 17,388 1,176 18.564 15,887 1.895 14 Credltors: amounts fAllin8 due within on¢ ye•r 2023 2022 Trade ¢reditor$ Other taxation and social securiiy VAT 11,588 4.197 7.425 1,500 6,275 30,955 10,062 3,730 7.093 25,636 2.225 48.745 Incotne in advance Accrnals P¢ 16
St. Peter's Pavilion Limited Notes to the Financial Statemenls for the Year Ended 31 December 2023 14 Funds Balxnee at I JanuJry 2023 Incoming resources Resources exptnded Balanee at 31 December 2023 Unrtstricted funds G¢n¢rdl 252.613 (324.5?61 337.641 265.728 Regtrlcted funds 866.040) Total fund5 613.4?7 B•lanc¢ 8t I J4rhU#ry 2022 3?4,526 Incoming resour£e5 337.641 600.3121 Balonce #t 31 December 2022 Resources expended Unrestrleted fund5 General 231.217 1259.851) 281,247 252,613 Re51ricted funds .(866.040.._... 259851 (866,040) Total funds 634,823 281247 613.427 16 An4lysls of net a5$ets btiw¢¢n funds Unre5trlcted fund$ GentrAI Total funds TanlIb]e fixed assets Current assets Current liabiliiies 563.146 563,146 68.151 68.151 (30,985 (30,985 600.312 To¢al net asset5 17 Analysis ofnet fund$ Al l January 2023 At 31 December 2023 Cash llow Cash at bank and in hand 92,926 92.926 (51,839) (51.8391 41.087 41,087 N¢t debt Page 17