Nev•bl$8ln bythe S•a Herftaze Partnershlp Challty 1121602 Company No. 0625sn9 Trt$, Rewt and Un•udlted Accwnts 31 Marth 2023
Newbi88in by the Sea HÈrfta8e Partnersl¥p Contents Trustees, Annual Report Independent Examiner's Report Statement of Flnanual Athvrties Summary Income and ExpenditureAccount Balance Sheet Notes to the Accounts Oetalled Statement of Flnancial Activitie5 Page 15 Page I
Newbiggln bytr* Sea Herlta8e Partrnrship Trustees Annual Report The trustees, who are also directOf5 of the tharity forthe purposes of the Companies Art 2006, present their report with the unaudited financial statements of the charityfor the year ended 31 March 2023. REFERENCE AND ADMJf41STRATJVE DETAIL5 Company No. 06255729 Charlty No. 1121602 Re8lstered Offlc• NewbiBgin Maritime Centre Church Point Newbiggin by the Sea Northumberland NE64 6DB Dlrectors and Trustees The Dirertors of the charitable ¢ompany are Its Trustees forthe purposes of charlty law. The following Oirectors and Trustees served durlng the year.. E.G. Air 8. Chilton S. Harrlson 8. Mead P. Seddon J.P. Shlpley Accountsnts Accounting for Good CIC 2 Geordie Ridley Pla Upper Precinrt Wesley Court 81aydon on Tyne Tyne and Wear NE215BT Page 2
Newblggln by the Sea Herltage Partnershlp Trustees Annual Report ACHIEVEMENTS & PERFORMANCE The day to day mana8ement of the actNities of Newbiggin by the Sea Herrts8e Partnership has been successfully athieved thi5 year. The company continues with ¢)peration of Newbiggin Marrtime Centre and Newbiggin Rocket House. 2022-23 has been a successful year forthe ParnrShIp. The Rocket House, Kite and Maritime Festivals. Heritage Open Day5. livè theatre produrtlons and Art Exhlbrtion5 were vlsited and apwedated by an increased number of visitors. Thmughout the wlnter months, NHP funded a Warni Space, to help supportthe ILYal communrty through the cost of1Sving Incre. The trustee5 would Ilke to record their thanks to the many volunteers who have helped and supported the work of the company. $0 to local Funders and the many members of the publlc who have contributed donations throughout the year. The Trustees are sponSIble for keeplng proper accountln8 reccfds that dlsclose wlth reasonable accuracy at any time the financlal posltlon of the charity and to enable them to ensure that the finandal statements comply wlth the Companies Act 26. The Trustses are a150 responsible for safe8uardlnB the assets of the charlty and hence taking reasonable Steps for the prevertlon and detertlon of fraud and other Irregularlties. The above report has been prepared In accordan wlth the provlslons applicable to companies subject to the small companle5 reglme as set out in Part 15 of the Companies Att 2rx)6 and In accordance with the Charitles SORP IFRS 1021. Sl8ned on behalf of the board S. Harr150n Trustee 20 December 2023 Page 3
t4ewbi88in by the Sea Herfts8e Partnejthip kndependent Examlners Rewt Independent Examine5 Report to the trte$ of P4ev•bi88ln by the Sea HeritagÈ Partnershlp I report to the charity trustees on my examination of the financial statsments of Newbiggin bythe Sea eritage pare[ShIp for the year ended 31 March 2023. Responslbllltles and basis of report As the charitys trustees of the company land a150 rts directors for the purposes of company lawl you are responsible for the preparation of the flnancial statements in accordance wlth the reqUIrnents of the Companies Act 2006 Ilhe ACL Having satisfied my5eM that the finandal statements of the Charity are not requlod to be aLtdited under Part 16 of the 2006 Art and are eli8ible for independent examinatioft, I report in respect of my examination of your charlty's financial statements as carried out under section 145 of the Chartties Att 20111'the 2011 Act'l. In Carrying Out my examination I have followed the Directions given by the tharity Commission under sectlon 145151 Ibl of the 2011 Act. Ind•pendent ex•mlnÈrfs gtstem•nt I have completed my examination. I can confirni that no material matters have come to my attentlon In connection wbth the examination gtrvlnB me Cause to belleve: accountlng records were not kept in accordance with section 386 of the Act.. or • the financlal statements do not accord wlth those records,. or the ftnanclal statements do not comply wlth the acCoUnn8 requirements under section 396 of the 2006 Act other than any requlrement that the finanaal statements 8Ne a Irue and falrf vlew whlch Is not a matter ¢onsldered as part of an independent examlnation,. or • the financial statements have not been prepared in accordance with the methods and prlnc+ples of the ststement of Recommended Practlce for accounting and reporting by charltres applicable to charities prep3Ting their accounts in accordance with the Flnandal Reporting Standard appllcable In the UK and Republic of Ireland IFRS 1021. I have no Concerns and have come across no other matters In connectlon wlth the examlnation to whlch attention should be drawn in this report in order to enable a proper un(Jerstsnding of the financlal statements to be reached. Kay Wi8htman FFA FfA Accounting for Good ac 2 Georilie Ridley Place Upper Precinct Wesley Court Blaydon on Tyne Tyneand Wear NE215BT 20 December 2023 Page 4
Newbi88in by the Sea Herltage Partnership Statement of Anancial Actiths for the ar ended 31 Marth 2023 funds 2023 nds Total funds Total funds 2023 2023 2022 Notes In(ome and endtswments from: Donations and legacie5 Charitsble activities 143.356 2,761 143,356 2,761 74,412 16.270 Total 146.117 146,117 90,682 Exp•rKllture on: Raising funds Other 205 21,789 22,994 Total 22.994 22.994 Net gains on Investments Net Income Transfers between funds Net Income b•fore oth•r 8aln511105sesl 22,994 21.994 123.123 123,123 68,688 123.123 123.123 68,688 Oth•r 8aSns and $5•$ N•t mo¥ement In funds Re¢on¢lllatlon of fvnds: Totol funds brought forward Tot¥1 fvnds caryl•d forward 123,123 123.123 68,688 2.922.042 2C(J 2,922,242 2,853,554 3,045,165 200 3,045,365 2,922,242 Page 5
Newbiggln by the Sea HerftaEe Partnerthlp Summary Income and ExPekurtA£(QUnt for the arended 31 Marth 2023 2023 2022 Income 146,117 9),682 Gross In¢ome for the year Expenditu 146.117 90,682 21,993 21,275 Depreciation and char8es for impairment of flxed assets Total expendlture for thg year Net income before tsx forthe year 14et Incom• for th8 year 1,719 22.994 21,993 123,123 68,689 123.123 68,689 Page 6
Newblggln by the Sea H*llage Partntrship Balan¢e Sheet at 31 Marth 2023 Company No. t2559 2023 2022 Flxed assets Tan8ible assets 10 2.578,471 2,578,471 2.492.730 2,492,730 Curr•nt assets Debtors Cash at bank and in hand li 12981 467,193 466,895 iii 466,894 3.045,365 3,045,365 13,709 416,303 430,012 150DI 429,512 2.922.242 2,922,242 Credltors: Amount falling due wlthln one year curr•nt assets 12 Total assets tss5 current Ilabllltle5 Net assets eXcIlIng penskn wet or1Sablllty Total net •sMts 3,045,365 2,922,242 The funds of the charlty Restrlrted funds Restricted income funds 13 200 200 200 Unr•strlrted funds General funds Desi8nated funds 13 550,367 2,494,798 3,045,165 427,244 2,494.798 R•serv•s 2,922,042 13 Total lunds 3.045,365 2,922,242 These accounts have been prepared In accordan¢e wlth the special provislons of Part 15 of the Companies Act 2006 relatSng to small companies. For the year ended 31 March 2023 the company was entie to exemption under sectlon 477 of the Companies Act 2006 relating to small c¢)mpanies. The members have not requ1 the company to obtsin an audit in accordan with section 476 of the Companles Art 2006. The dlrettors acknowled8e their responsibilities for compIng wrth the requ1ments of the Companies Act 20C6 wlth respect to acc(NJnting records and the preparation of accounts. Approved by the board on 20 Deomber 2023 And slgned on Its behalf by: S. Harrlso Trustee 20 December 2023 Page 7
Newbiggrn by the Sea Hw5tage Partnership Note5 to the Aicounts for the year ended 31 Marth 2023 l Ac¢ountS pdkles Basis of preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Chèritie5.- StatemÈnt of Recommended Practice applicable to charities pparin8 their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of [land IFRS 1021 leffettive I January 20151- (Charities SORP IFRS 10211. the Financial Reportin8 Standard applicable in the UK and Republlc of Ireland IFRS 1021 and the Companies Act 2Crf)6. Chan8• In basls of acco£ orto pre¥lous accounts Thère has been no change to the accounting policies Ivaluatlon rules and method of accounting) since last year and no changes have been made to accounts for prwiou5 years. Fufid a¢countlftg Unrestrl¢ted fund5 These are avallable for use at the dixretion of the trustees in fvrtherance of the Desl8nated funds 8eneral objects of the charity. Revaluation funds These are unrestritted funds eamarked by the trustee5 for pèrtl¢ular purposes. These are unrestricted funds whlch indude a revaluatlon reserve reprèsenting the restatement of investment assets atthelr market values. These are available for use subject to reStriOn$ imposed by the donor or throu8h temis of an appeal. Restrirted funds In¢om• Recognltion of Income Income Is Included In the Ststement of Finanaal Actlvltles ISOFAI when the charlty becomes entled to. and vlrtualty certaln to recèive. the Income and the amount of the Irtcome can be measured with sufficlent reliabillty. Income wlth related Where income has related expenditu the Income and related expenditure 15 expenditure reported gross In the SOF Donations and le8acles Voluntsry Income recefved by way of grants, donatlons and Bifts is included Sn the the SOFA when receivable and only when the Charity has unconditional entltlement to the income. Tax reclaims on Income from tax redaSms is included in the SOFA at the same tlme as the donatlons and 8rfts 8fft/donat5on to whlch it relates. Donated services and faclllties These are only rnduded In income Iwith an equlvalent amount in expenditure) where the benefit to the Charlty is reasonably quantrfiable, measurable and rnateal. Volurrteer help The value of any volunteer help reIVed is not included in the a¢counts. Invèstment income This is included in the accounts when recervable. Gainslllossesl on This includes any gain or loss resuttlng from revalulng inve5ts7)ents to market value revaluation of flxed at the end of the year. asset5 Gain5lllossesl on Investment assets This includes any gain or loss on the sale of Investments. Page 8
Newbiggin by the Sea Herlta8e Partnershlp Notes to the Accounts Expendlture Recognition of expenditure Expendlture is recognised on an accruals basis. Expenditure Includes any VAT which cannot be fulty recovered, and is reported as part of the èxpenditure to which It relates. Expenditure on raising funds Expenditure on These comprise the costs associated with attra¢tlng voluntary Income, fundraisinB trading costs and investment management costs. These comprise the costs Incurred by the Charity in the delivery of its attivities and charitable activltles services In the furtherance of Its objetts, including the making of grants and governance costs. Grants payable All grant expendlture is accounted for on an actual pald basls plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These Include those costs associated wlth meeting the constltutlonal and Statutory requlrements of the Charity, including any auditlindependent examinatlon fees, costs linked to the strategic management of the Charlty, together with a share of other adminlstration costs. Other expendlture These are sUPPOrt costs not allocated to a partlcular activlty. Governance costs Tamatlon The charSty Is exempt from corporatlon tax on Its charltable actlvitles. Tanglble fimed a5wts and depreclatlon Depreciation 55 provided at the followin8 annual rate5 In order to wrlte off each asset over Its estirnated useful life.. Plant & Machlnery 25% Stral8ht Line Freehold Investment prop•rtv Investment propertSes are measured Inltially at cost and subsequently at falr value at each balance sheet date and are not depreclated. All galns or losses are taken to the Statement of Flnanclal Activltles as they arlse. Stocks Stock is Included at the lower of cost or net reallsable value. Donated Items of stock are recognlsed at fair valuè which Is the amount the charlty would have been wlllin8 to pay for the items on the open markèt. Trade and othèr debtors Trade and other debtors are reco8nised at the settlement amount due after any trade dlscount offered. Prepayments are valued at the amount prepald net of any trade dlscounts due. Cash and cash equlvalents Cash and cash equivalent5 comprlse cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturitles of three months or less and bank overdraft5. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilitles. In the Statement of Cash Flow5, cash and cash equivalents ale shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management. Page 9
Newblg8in by the Sea Herltage Partnershlp Notes to the A¢counts Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provlsions are reco8nised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measLtred or estimated reliably. Credltors and provisions are normally recoBnised at thelr settlement amount after allowing for any trade discounts due. Research and development Expendlture on research and development is written off in the year In which it15 incurred. For8 currencles Monetary assets and liabilities denominated in currencles other than the functlonal currency of the charity are translated at the rates of exchange prevaS1in8 at the end of the reporting perlod. TransattSons in currencies other than the functional currency of the charlty are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken Into account in arrlvlng at net Incomelexpendlture. Leased assets Where the charlty enters into a lease whlch entalls tsklnB substantially all the rlsks and rewards of ownership of an asset, the lease Is treated as a finance lease. Leases which do not transfer substantially all the rlsks and rewards of ownership to charlty are classlfied as operating leases. Assets held under flnance leases are inftlally reco8nised as assets of the charity at thelT falr volue at the Inceptlon of the lease or, If lower, at the present value of the minlmum lease payrnents. The correspondin8 liablllty to the lessor Is included In the balance sheet date as a finance lease obllgation. Lease payrnents are apportloned between flnance expense5 and reductlon of the lease obllgation so as to achleve a constant rate of interest on the remaining balance Qf the Ilabllity. FInan expenses are reco8nlsed Immediately, unless they are dlrectly attrlbutable to quallfying a55ets, In which case they are capltalised In accordance with the charity's polley on borrowln8 Costs. Assets held under finance leases are depreciated in the same way as owned assets. Operatln8 lease payments are recognised as an expense on a stralght-llne basls over the lease term. In the event that lease Incentlves are received to enter into operating leases, such incentives are recognlsed as a Ilabillty. The aggregate benefit of incentlve5 Is recognised as a reductlon of rental expense on a strai8ht.line basls. Penslon costs The charlty operates a deflned contrlbutlon plan for Its employees. A deflned contrlbution plan Is pension plan under which the company pays flxed contributions Into a separate entity. Once the contribtstions have been pald the company has nts further payments obllgations. The Contrlbutlons ale recognlsed ag expenses when they fall due. Amounts not paid are Shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. Rec•lpt of donatsd 8oods, facllltles and servl¢e5 All donated goods, facilitles and services received are recognised within Incomlng resource5 and expendltyre at an estimate of the value to the charity. Page 10
NewblgKin by the Sea Hèrftage Partnèrship Notes to the Accwnts 2 Compary ststus The company Is a private company Ilmited byguarantee and corLsequently does not have share capital. 3 Statement of Flnandal Actl¥itJes- prknyear Unrestrfcted funds Restrirted funds Totsl funds 2022 2022 2022 Income and endowments from: Donatlons and legacles Charltable activities Totrl 74.412 16.071 74,412 16,271 200 200 Expendl¢ur¢ on". Raisln8 funds charable actlvfties T¢X•l ,683 205 21.789 205 21,789 21,994 21,994 Net Income 68,489 N•t In¢ome before other galnslllossesl Other 8alns and10sses: Net movement In lunds R¢¢ondllatlon of funds.. Totsl funds carrl•d fow4rd 200 68,689 68.489 200 68.689 68,489 200 68,689 68,489 200 68,689 4 In¢omè from donatlons and1•8acles UnrestAct•d Totsl 2023 Totsl 2022 Donations 143,356 143.356 143.356 143.356 74.412 74,412 5 Income from charltablt acllvltles Vnrestrlcted Totsl 2023 Totsl 2022 2,761 2.761 2,761 2,761 16,270 16.270 Page 11
Newbiggin by the Sèa Herltage Partnership Notes to the Attounts 6 ExpendItU on ralsin8 funds Totsl Totsl 2022 2023 Costs ofgenemting voluntary income Donation5 205 205 7 Other expenditur• Unr•strlcted Total 2023 Total 2022 Premlses costs Amortlsatlon, depreciatlon, impalrmenti profltlloss on disposal of flxed assets General admlnlstratlve costs Legal and professional costs 14,998 14,998 10,956 1,719 1.719 3,708 4,964 1,313 22,994 4,964 1.313 22,994 6,335 790 8 Net Incom• before transfers 21,789 Thls Is stated after thar8ing'. Depreciatlon of owned flxed assets 9 Staff costs No employee recelved emoluments In excess of £60,OChJ. 10 Tanglble fixed asmts 2023 2022 1,719 3,708 L•nd and bulldlngs Plant & Ma¢hlnery Totsl Cost or r•valuatlon At l Aprll 2022 Additlons At 31 March 2023 Dèpreclatlon and Impalrment At l April 2022 Depreciatlon charBe for the year At 31 March 2023 Net book volu•s At 31 March 2023 At 31 March 2022 2,298,147 14,832 192,864 87,460 280,324 2,505.843 87.460 2,593,303 2.298.147 14,832 13,113 13,113 1,719 1,719 14,832 14,832 2,298.147 2,298,147 280,324 192.864 2,578,471 2.492,730 1,719 Page 12
Newblggln by the Sea Heritage Partnership Notes to the A¢counts 11 Delrtors 2023 2022 VAT recoverable Other debtors Prepayments and accrued Income 17 1,709 12.000 13151 12981 12 Credltors: amounts fallln8 due wrthin one year 13.709 2023 2022 Other creditors ActrLrals 500 13 m0Ment In funds 51)0 Incomln8 r•source5 Ilncludlni other At l Awll 8alnslloM¢s 22 Resources expnded At31 Mah 2023 Restrlrt•d fund5: Restrlct•d Income fvnd5: Beach Wheelchalrs 200 Totol 2Crf) Urest(led funds: G•neral lund5 D•sl8nated funds: General Day to Day Management & Operatlons rotol 200 427,244 146,117 122.9941 550,367 2.494.798 2,494.798 2,494.798 2,494,798 Total fund5 2,922,242 146,117 122,9941 3,045,365 Purpose5 and restrirtions In relatron tothe fijnds.. Re5tri¢ted funds.. Beach Wheelchairs Designated funds.. General Day to Day Management & Operations Page 13
Newbl88ln by the Sea Her5ta¥e Partnershlp Notes to the Ac¢ounts 14 Analysis of net assets between funds Unrestrlrted tunds Re5trIrt•d fvnds Total Flyed assets Net cUrnt assets 2,578,471 12991 2,578,172 2,578,471 466,894 3.045,365 467.193 467,193 15 ReconcillatSon of net debt At31 March 2023 At l Aprll 2022 Cash flows Cash and cash equivalents 416,303 416,303 50,890 50,890 467,193 467,193 Net debt 416,303 50,890 467,193 16 Related party dls¢losures Controlllnq party The company is Ilmited by 8uarantee and has no share capital,. thus no slngle party controls the companv. Pa8e 14
Newblggln by the Sea Herltage Partnershlp Detsiled Statement of Financlal Artlvltles for the year ended 31 March 2023 Unrestrfcte d funds 2023 Total funds 2023 Total funds 2022 2023 Income and endowments from: Donatlons and le8ades Donations 143,356 143,356 143.356 143,356 74,412 74,412 Charitable attivltles 2,761 2,761 2,761 2,761 16.270 16.270 Totsi Income and endowm•nts Expendlture on: Costs of 8eneratlng donations and legacies Donatlons 146,117 146,117 90,682 205 Total of •xpendltur• on ralsln8 funds 205 205 Premlses costs Premises repalrs and malntenance 14,998 14.998 10.956 General admlnlstratlve cost5, including depreclatlon and amortlsation Depreciation of Plant & Machinery Bank char6es General insuran$ Postage and couriers Statlonery and printing Sundry expense5 14,998 14,998 10,956 1,719 1,719 3,708 179 4,580 102 179 4,580 102 176 5,610 549 103 6,683 103 6.683 Legal and professional Costs Audltlindependent examination fees Accountancy and bookkeeping 10,043 950 950 790 363 1,313 363 1,313 22,994 Total of expendlture of other costs Totsl expendlture Net Balns on Investments 790 22,994 21,789 22,994 22,994 21,994 Page 15
Newblggln by the Sea Heritage Partnershlp Detslled Ststement of Flnancial Acknvlt1•5 Net Income 123.123 123,123 68,688 Net Income before other 8ainslllosse5) Other Gains 123.123 123,123 68,688 Net movemert in lunds 123.123 123.123 68.688 Reconcillatlon of funds: Total funds brought fonvard Totsi funds ¢èrrled forward 2.922.042 2 2,922.242 2.853,554 3,045,165 200 3.045.365 2,922,242 Pa8e 16