Company registratton Jnunb¢r. 06330264 Cliarity iegi&traÉioll number.. 1122436 The Whitworth Centre Ltd (A company limited by 8uaraotee) Arn]U Report aJ)d Financial Statements l(yr the ye Ended 31 MaTcI) 2024
The Whltworth Centre Ltd Contents Stratsgic lieport Tntees, Report 2to7 1ndend¢llt Examitt&s R¢tM)rt Stat¢n]elll ofFInala1 A¢tivitie$ Balattce Sheet iotoii Notes to the Financial Sthtements 12to24
Te Whitworth CeRtre Ltd Strvdtegic Report for the Year Ended 31 March 2024 tte2&, who aFe dir¢ctors foi. th¢ purp08es of CDnwally law. prE8ent th¢ir stratcgifj r¢pt for th¢ &r 31 MarGh 2024, ill ¢ompliaLce with 8414C of the Companies Art 2006. Ilin4n¢lAI rewlew PO¢Y on reserves The Tiwte¢s to matlltain ftec r¢s¢rves in ullre8ts'id¢d fimds at a tevel Nvhich equates Éo app1oxiiatety three months o.Ivnre8trid¢d charitsble expondiMre. Tlie Tnistees consider tliat thiB l¢v¢l will provide suffi¢i£Trt thnds to respond to applii*ts"oLs for grants and ensure that support and govemance cogts are covered. The Trustees consider that a level ot three mollthB is SELfficieth gtven th¢ t]ibility afforded by the Ti'ading arrn of the Centre. The strategic report wus approved by the trn8tecs of the olwity on 20 December 2024 aud Sied on ity belialf by.. MI'J athatt Wood Mr Cliristopher Ragg Ch8irE]wn alld tust¢¢ Page I
The Whitsvortli Centre Ltd Tnkstees, Report The trustees, who are dittctorn for th¢ pwoses of company law, present the annual report togttther with the fiJ]aJcial ststernents and auditorM' report of thc charAtable company for the year ajded 31 March 2024. Obje¢tive% and actSvi1Ses Objects uim$ - The Whitworth Park remained open every day of tb¢ year, pioviding hnge Support to local people. - Th¢ Whitworth has increased Its, environm¢ntal activity given the global cffiilnate challenge. - The ]eed0*al feedback we have itceived on service levels from customgrs has concluded on a positiY¢ note. - We Iiave pller¢d with ConllnUnity. to pmvid¢ events andactivities for all age groups. - We hav¢ lieSted in a nwnber of ojsgoing buildillg and pk iTDprov¢m¢nt p]Dj. - We are pleltsed to have incrvdsed staff wages in th¢ ye4r, helping staff themselves M]ge ri8ing living costs bett¢r. We have clearty defined airns to supFK)rtth¢ residents of Darley Dale to: - Help enhwice physical, Soci and mentsl well-being. - Help reduce social i%olati(vn and loneline&g in our Conrlty. - Help create stronger, rewarding rslatio3bips in famili¢$ alld loral groups. - I.I¢lp people mak¢ choice8 and illjprove the environnwL These activities weir 8upporkd by a numbet of gr8ryt &rtiviti¢s, dotMtions from the public al our trading Ltd. Compwy. Publi¢ bénef - M4inteJ)ance and management of a Iieritage building gmdpark. - ProYi5ioll of a ¢afi. a 8poj.ting V¢Due, event& conf¢rellce fimction Yoom& to the Ydents of Darley Dale ad adjoining parishc - Developmellt &lld support of org?1¥att0t18 that pruvide a tallge of well-bgiwrieLJted servicesto people. The tru8tee5 llroMI th81 they i)av¢ compJ1 with th¢ requiremcnts of section 17 of the ChtieS Act2011 10 Jkntvc due rega to the public bcllLfit Ud2ce published. by the Chariti18 COmmi10n foT England dnd Wales. Pag¢ 2
Tke Whltworth Centre Ltd Tntees, Report SocialinvestsMeHlpoli¢ie We have particularly o.u ¢nv.ironmental aclivity, through events like "Making Space foc N1( tttre" a Repoir Café aud supporting ev¢llts by org8nisatious such as th¢ Derbyshi Wildlifdfrnst and Rewildillg Britain. We have teyJaot8 t.or both the lodge aThl for one of our meeting rooms. which prnvides some lollger t¢r£n fin1claI Security of income. This, tog¢ther with our wide range ot"cornmial activiti&s, h&$ en&bled us to keep costs low for chorities conllY]lty groups using ttie buildtng and park thereby enablijjg more w£ll4)eing-based servir¢3 to b¢ providedfor loral p¢opJo. - The mainteDfince andllgeMent of a Ilge building and prt. - Th¢ d¢vclopm¢nt Supp{ of orgallisations thatprovide a rdng¢ ofw¢ll-b¢ing-ori¢ntsd serviG¢s to people. - The pmvision of events consistent with ow piijpose objectives. This would in¢lllde craft faiTr, celebtztion musical activlties, dance, and grnvimrnnental events whA¢h have been free to altend. Tro8tees 2nd offieers The trnStees and offjcors serving during the year and &irtce the Ye end ivere as lollows: Tnt8es." Mr Simon Gill {sIgned 14 March 2024) Mr Duncan John T&ylor (reBiEned 12 January 2024) Mr David HaLry 08k]ey {re&igned 17 Ocknb£i 2023) Mr ALdrEW Sullivan (IE8igtied 14 Marcll 2024) MI Alan LoS (r¢8ign£d 14 March 2024) Mrs Carolyn Mary Davis (resigned l Febni&ry 2024) Mt Jonathan Riley (Tesi8ned 12 J3Thwy 2024) Mr Jason Farm (&PPQiLltd 14 March 2024 alld T¢8ign¢d 10 OGtob¢r 2024) Mr Barry Mellor (appointed 14 Mw'ch 2024 alld resigned 25 October 2024) Mrs Ei8ther Walker (appoiniEd 14 Marcli 2024 and rexA8lled 25 July 2024) Mièis Donlla Shimwell (Iippointed. 14 March 2024) Mr lan W&lkcr {EIppOint 14 March 2024 and resigned 6 October 2024) Mr l&n Adkin (Appointed 14 March 2024 and resigned 6 October 2024) Mr Jonathan Wood, Finan¥¢ L£ad (appointed 10 OGtober 2024) Mr Christopha" Ra (apponed20 May 2024) MY Damd Wheeler (appointed 24 0¢ber 2024) Mr James Wil&on (uppvinted 25 Jllly 2024) Mrs Julie Bisliop (appointed 17 May 2023 and resigned 2 JwiuÉvy 2024) Mrs Satah Halliwell {8ppointrd 14 Stend)er 2023 and re81gEd I February 2024) Mrs Cr#wenlla Dymond (appointed 14 Augusl 2024) Pag¢ 3
The Wh%tworth Centre Ltd Trnytee81 Report Mr Long (Tesigned 14 March 2024) Mr Clristopher Ragg (appointed20May2024) Secretary: Mr Andrew Sullivan (Te5igned 14 M£rL'h 2024) Darley Dale Town Coullcil Mr Taylor, G¢nernl Manager {te8igued 31 D¢ceJnbet 2023) Mr8 Kat¢ H¥rfoid, Fillance Officer (appointed l May 2023) Mrs Claire Robert%, Fmance Officer (resi8tted 30 April 2023) Otber Officers: Senior Manage1DJ( l Lladership Teani: RefereDce Adwiuistratht Det Charty ReElStrtiott Nmknber: Coillpally Registratioll Numbcr." 1122436 06330264 The thIwAty is iDCOryQTat¢d in England & Wal¢s. R¢gistd'¢d Office: Station R(Md Dailey Dale Matlock Derbyshii'e DE4 2EQ Flnanclal Instruments Objective5 ¢THd.poliae Tli¢ a¢tivitses it to 8 nuiDber of fianciaL risk8 including credit iisk, cash flow risk and liquidity ri8JL The us¢ of fjnaucial deriv&tAves is 8ovemcd by th¢ ¢haTAty's polici aprrnycd by Lh¢ iN)ard of trustees, whicli piovid¢ wJ"itt¢ii principlcs on the use of financial deriv&tives-to-ma]LYge-the8ff risks".YheTbLrity does not us¢ dthivative finilL 8p¢Gulalive purpos¢s. Cashflow pysk Tlje Chty.8 activitics expose it prin)arily to d)e rigks of chaiigcg iii forci] cun'ency exchange Tatss and intert rat&s. Th¢ clwity V8e8 foreign- exchung¢ forward conlracts }d interest rate swap Gonlrnrts to hodge these exposiire8. Inleregt beillg assets li&bilittes held llt fixed. T8tetO fflL%ure cerlaiiily of Lash klows. Creditrfsk Tlie Lhatily'8 princip41 'trinanLial ar¢ bat& ba1C¢S casl4 knde at]d otheryece1vab1. and inVtments. The Lharity's (Jedil risk is wimmrify attributable to its trade Teceivables. Th¢ amoimts pres¢nted in Ili¢ balance sheet are net of allowances for th)ubth7J i'eceivables. Ali alloWe for impdi11ncnt is nwle whore there 1$ idwilified Ios5 ¢V¢lIt whith, based on preyious expericnc4 is evidcllce of a reduction in the recoverability of th¢ cash flows. The credit risk on liqla fim(Lg und dcrivative fini01a1 in$tnlln¢nts is liinit¢(I because ttit counterparties barjks with higii credit-trings ssigned by inteni[Ltion ¢rdit-Thting ag¥wi¢s. Tlie ¢hwity h&$ Th) sigDificai7t Go7Jcentration ot crdit risk, witb eKposurc spread over a large ill)nther of Lounterpdrtie& customers. Pagc 4
The Ivhitrorth Centre Ltd Tniyteey, Report "qmidity r In order to nl1}taIn liqui<Lity to ensure that suffi. ¢iotrt fivjds are available for ongoing opwations and fitture developments, the charity uses a n]ixtLre of long-tenij and short-terni debt tte. Furtb& details regarding liquidity risk ¢gn be foulld ill the Statfflllent of acc(suntins policies in the financiat statements. Page 5
The Svhitworth Centre Ltd Trustees, Report Flind5 held as cii8tAMUaD trustee on behalf of ffjtbers R¢strieted assets: Ltmd conwising l 1.06 hect8res (or thereabonts) Builditig'sir Joseph WhitwDrth Institllttt, UnrestriGted &ets. Rei>identi81 dwelling known as The Lodse AgricuLtural land comprising 3.44 he¢tar¢b (or tliereabouts) Football pitch ¢ompiising 1.45 heotsres (or thereabouts) StAtemtnt of trn5tees' re8ponsfbllllle8 The tru81ees (wlio are also the dir¢¢tors of The Whiiworth Centre Ltd for the purpo8¢8 of con)pany 14w) are re&ponsible foL pr¢pariJLg the trnst¢es' report alld the financial statements in accoitlancc wtth applLCAblc law alld Unitcd Killgdojn Accollt)ting StsndaLds (Ujited Kingdom Gellth?lty Acwted ActOUllÈing Pi'aetice), inclllditig FRS 102 "The Financial Reporting Standatd applicable in the UK and Republic of Ireland" ComplY law reqlltreg the trustses to prep&r fl3uC1ll1 staternents for each financial y. Under company law the trustees tnust not approve the fuClaI Sttelln unles¥ they are satisfied that they give a true Rlld fail. view of the state of affairs of th¢ ¢barit3ble aon)yany And of t]Le incoming appli¢AtAon of resour, inrkuding its ittix)me and wdiiur¢. of the thar.itablc rwany lor tknat peTiod. In PWafinLV these fi01a1 8lat¥meM8, thr trSlee8 3r¢ Tequir¢d to: selzGt SiiAÉabl¢ ¢1)Uting poliGi¢8 aud applytlKm c()nsisteAAdy, observ¢ the i¥}10d$ and piinciples itttht (kntties SORP; jiidgcmentg 2nd estiuth that arc reasonabl¢ and prudent. state whether applicablc accounting Stdndards.. comprA&'ing Fks. 102 hdve bvcn followed, gllbjtct to ally mat1&1 d¢partllr dlsclosed and expjaillcd ill thtt finallcial 8tatomcnts" )d prepare the fitMicAaJ statements on the going CEmcem basts iudess it is itiappropriate to Prelle that the chlble Compry will Continue in bllsin. The tsiistKs ar¢ spOnS]1 Ile for k¥illg pi(y¢r A¢countÈng records that CAU disclose with [OAbl# 4wiwacy al auy time the financtal position of tlie charitable con4)ry and enable them to ensllre that the financial staiEments comply with thc Companie8 Act 20. Th aTe also JE5PQJLsiblg for safegii&Tding the asKls of the charitable company and hence for taking irasonable step8 for the prentll0n atMI deteL%i()n ol. frdud other irreguldtllties. The trustees are responsible for Éhc maiMtcnJnce alld illÉeEiity of thc cthptnte and fr1}ll infornmtion included on the charitable compan& websit¢. Lcgi81atioll govffliing tho piepatation and di85emination of financial statcnients may diffei" from le¥islation xu other jurisdictions. Snllll conwanles provlslon Statennt This iM)ort has been prepared in accordarcc with the SJMII conJpaiu¥8 rt8iFMQ uttderthe CompanA¢S 2(K)6. Page 6
The Whitworth Centre Ltd Trustees, Report TJJC anDual report was approvedby thp ts'ustce8 of the 2,0 D¢c¢mbw 2024 aud 8iw¢d ooits b¢ha]f by: Mr Jonathan Wood Mr Christoph¢i Ragg Chainllan trustee Structllreg govcrtsance ind mallagemtnt Orgtxnxyalionalslnic'lure Tlie Whitworth Centre Lld. wliich is a r¢gistered charAty. Ivholty owns Whitwortb Centre (frnditig) Ltd, througb which it operates it's Caterin& Hire and Comtnercial option& The conwany is VAT gIStered ld is a charity regigtered with the chttrlti Commission. The diarity is controlled by its governing docimwit, it constitutes a limited conw 2nd it is limited by gllarnntee. Both compatiies are n)allBged by a Board of Tnt$. all of whmn are Tegistered with Comptmie5 House as Dir¢ctors. The sol¢ Jnernber ot ThcV/hitworth C£1c Lld is D.1¢Y Dale Town Couttcil. as Sh. ithas controllirtg shRre of Thc Whitworth. It's obligati(m is to provide 7 ConnLillors to 8lt on the Boanl of12 Tnu3t¢. Thg Trustees meet once a mojitli io dis53 busTrness pthrnwcc and to agpre,e business irnPtI)v¢maits. They arc further divided ijito fouT sub-conmittees which have sp¢rAfic Tp(sIbilItIes as prescribedin the scopc of thL coin(nittee. Uiider the trst deed of 1898, The IVhiÉwortlL (fnrnully The Wbitwortli lttstilute) wa% established on 1st Noventher, 2008. The activitiEs and und'tl1 of th¢ rhorkty wcrc thii ov¢r. by th¢ Jimit¢d compauy in tho naille of The Whitworth Ctre. All the assets liabilities ol the oiiginal ch<1rity ts7nsferied Lo the conu)any. Board nf Trust5 Geiieral Manag Deity manager & Fiaance oifi¢u, Centr¢ Admiiii8traloi'. LKad Centre Operaliv¢, Ev¢ots Sales & 'k£llg Manager, C'atcriti8 Tctull. Page 7
The Whitworth Centre Ltd Independent Examiner's Repor to the trusjtees of The Whihvorth Centre I,td (Ithe Company,) I r¢port to the Gharity Itvslees <m my ¢xaminatiDn OL th¢ account8 ot iho L.ompany for the year ond¢d 31 March 2024, RespoD5ibilitie$ aftd bLS of report As tho charity's ttL4tee& of the Company (and also ils directors for lh¢ purpDS¢S of company law) you are r¢sponsiblo for th¢ pr¢paratioA of th¢ aGcount8 in (Orden¢¢ widi thg r¢quir¢m¢n15 Of Ilie Cornp8Thies Act 2006 ('the 2006 AGt'), Having satlsfied rnyself Ihat th¢ accowits ttt, the Company ar¢ not r¢quired to b¢ audited ullder l)art l6 of thg 2006 Act and are eligibl¢ for independcnt examinalion, I report irt respe¢t of my cxaralnatlon of your Lhariiy'5 ac¢ounts' as carried out under section 145 0l.- the Charities Act 2011 ('th¢ 2011 Ail,). In carryin¥ vul t exaLllittlOtI I have followvd the l)irectLOllS uivcn by th¢ Charity CDmtnission uttder .section 145(5Xb) of th¢ 2011 Act. Independent exMmin¢r'$ itotrn¢nt I have Lompleted my examin¥Ltion. I Qonfirni uo m&tteYs have Qome lo my attentiort in conncctioii with the examination giwing me cause to bclieve: acwunting rcFords w¢r¢ nut kwpl in 5P¢rt uf Thi Whittvorlh Centr¢ Lid as required by gection 386 of th 2006 Act, or 2. the accounts do not accord widi th05¢ records. or 3. the &L¢OUllts do not comply with the COuntIng requ1mnIS ijf ¥e¢tion 396 of the 2006 Acl. Dther Ih¢in any requiremeni that tho accounts L¥iV¢ a end fair view, which is not a mattcr considered as Prlrt an And¢p¢nd¢Jtt e%ununallQA", or 4. the arGount& hdV¢ be¢n prepar¢d in accordanLe with Ihc methods and priTJcipl¢& of Ilje Stat¢mert 9f Re¢ott]mended Practict for ¢0ti1]g repnrting by charities [.applicable to charitics pr¢paring their ¥¢vunts in Cordnee with the F'inaiicial Reporting Ststtdurd applicable in th4 i.Ir( and Repiiblic of Ireland (fRS 102)]. I have no concerns have come across llo otlKr matter.8 in conncGtion with th¢ ¢xamination to which allention should be drawn in this r¥port in order to eniible a prop¢r undersldnding of th¢ acrounts to be reachd. Stephen Allen ACA FCL'A Allen, West and F-oster LimitLMI Omega Court, 364-366 Lemctcry Rvttd Shefficld S118FT 16 TJe¢¢mber 21)24 p$¢ 8
The Whltworth Centre Ltd ststement of Financial Activities for the Year Ended 31 March 2024 (Including Income and ExpeDditure Account and Statement of Total ReL'ognlsed Gains and Losse8) Unre8trScted funds Restiicted funds Ttal 2024 Note Jncome and Endowment$ from: Donations and l¢gaci¢s Other incom¢ 86.332 17,617 103,949 23,923 Total in¢(ll 110,255 17,617 127,872 xpendltllre on: Raising fijuds Charitablc aCtitt¢S (94.795) (13,112) {15,022) (109,817) 13,112 Total exp¢nditute (107.907) (15.022 J.22,929) Net Atw(Im 2J48 2,595 4.943 Net nM)vement in futKI$ 2,348 2,595 4943 Reeonellaation Df tknnds Total fi7J]ds brought fonvkrd 394,399 1,690237 2,084,636 Total fimd8 CQtYAe(LfonvaYd 15 396,747 UnrestrlL*od wids 1,692.832 Restyleted funds 2,089,579 Total 21n3 Nrjte Jjjcome and EDdowDAents fronj: Donatio1 and legariG Other income 41.825 45,258 49.499 91,324 45,258 Total illcoFn¢ 87,083 136,582 Expeditre Dn: Raisillg fid C]witible activiti&8 (I 16.987) (13,085) (10,452) (127,439) 33,068 Tottd cxpendiÉuTe (130.072 (30,435) 19,064 (160,507) Net {¢xp¢nditure)lincomc 42989) 23,925) Nct movement Att fiaS (42.9891 (23,925) Re¢fflioliY&tlon of hnds Total fiTrds brought forward 437.388 1.671,173 2.108.561 Total Jkni(18 carried tonvard 15 394,399 1,690 237 2,084,636 All of tbe Chty,8 £tivI1]eS derive tsollT colltinuillg opeyations ditritigthe ybDVttwtr periods. The note8 on pages 12 to 24 forni an integrnl part of these financial Statements. Page 9
The Wbitworth Centre Ltd (Registratiou number: 06330264) Balance Sheet as at 31 March 2024 2024 1023 Note Flyed AKets Tangible 888¢t8 H¢rits8e assets Investments 459,937 1,560,213 465,250 1.560,213 io 2,020,152 2,025,465 Current 2sset8 Debto Cash at bank and in IWMI 129.864 14,199 138.lJ47 5,241 144,063 23,703 144,188 Credltors: Amounts falllllg due wlthln one year 13 27,808 Net current asset4 120360 116,3SO Total asiets le&8 Current li%blli¢Aes 2,140,512 2,141,845 (57,209) Creditors: AThovDts fAlling thie after more one yeRT 14 50,933) 2.089,579 Net assets 2,084.636 Funds of the charity: RestrRrted knLome knnds Restricted fiittd 1,692.832 I,C)90,237 UMre$trtcteAI llltoffte funds Unxestricted fiJnd8 Revaluation 351,802 349,454 44,945 T(Trtsl unrestrictcd 396,747 394,399 Total 15 2,089,579 2,084,636 For the fmallcial yeat endillg 31 MaY¢h 2024 the clwity was entitled to excutIon from awjtt wjder s¢Glion 477 of the Coiry)anies Art 2006 r¢lating to sm#ll compani. Dir¢Lt0, respollsibiliti¢¥: ThR members bavc not required the ¢harity to i)btaiti ail audit of its aurounts thr the ye&r in questiott in a¢wr.dance with seGtioJi 476. The dtrectors knOwledge their r¢sponsli )ilities for c(rylying wxth the requirements of the Aot witb re8pect to dcLouirti1 records aad the w'Lyaratioll of *¢¢ounts. The notes th) pages 12 to 24 fonn 8n integrgl part of these finanLi&I stdtements. Page 10
Tli¢ Whihvorth Centre Ltd (Registration number: 06330264) Balance Sheet as at 31 March 2024 Tbe finaucial ststements pages 9 to 24 were approved by the tnLsiees. and authorised for issue on 20 December 2024 and signed on tl)eir behalt by. Mr Jonathan Wood TnL8tee Mr C1tOpher Ragg Chairman aad Intste¢ The noteg on pages 12 to 24 forni integral pErrt of these financial statemertts. Pag¢ll
The Whitworth Celltre Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 I Chartty ststU5 The cbarity is limited by gu8r2ntee. incoxpornted in England & Wales, and consequently does Dot have se capital. Each of the trusiees is liabl¢ to wlltribute an an]ount not ex¢¢¢(knng £10 towards tli¢ assels of the charty in the event ot"liquidation. The adthss of its registed office is: Station Road Darley DC Matlock Derbythtiy DE4 2EQ These fiDdnGial statettrnts w¢ie authorised for issue by the trustees on 20 December 2024. 2 A¢¢ounting policies Summary of sienlfitant at¢ounting polid¢s and key ac¢outttittg estimsÉe$ The principal accounting policies applied In the pi'eparntion of these fmoncial ststements out below. These policies hav¢ been Gon5iSt¢otty applied to all the ye8rs preseutd, unless otlwwis¢ ststed. Statement olcoJnplioDcc The finajwial staf¢ments ha be( prepai'cd in accord8llce with Accounling and Reportuig by Ckmrities.. StateMt of RrKomeude41 PKartA¢e (applicable to ¢hariti¢s preparin8 their in &cOrdae witkn th Fil)]1a1 Rworting Stalldard wlicable in the UK 8nd Rq)ublic of ]jalld (FRS 102)) (1S in October 2019) - (Cl)aritie8 SORP (FRS 102)), the financial Reporting stand applicabl¢ in the UK and Republic of (FRS 102) and the Companivs ALI 2006. Baifti of preparlllfrn The Wbltworth Lentre Ltd Lneets the definition of & public b¢neFrt ¢titity Und FRS 102. A&sets atth liabilities arc initially rgGOgni¥ at historical cost OT tra&tIon vaime uDless otherwiso ststed in the relevsmt 8rcowItiDg poliLy notes. Going eoneern The trust consi(kY that there ar¢ no rnateria] unc£Ytainties about Ihe charitys ability to contijme as a goittg Concern nor sftgnifi¢ant arw of uncertainty tIt afft the ¢arryiog volu¢ of as8ets h¢ld by the charity. Illlome and etHlownwnts All rnwmc is rccognised ollce the oharity ha8 ¢tititlement to die in¢ome, it is probable that the inc4)m¢ will be received and the atnIll( of the inLome receivable canbe &sUred ieliably. Donathoiix and legrtLYeS Donatioits are recognised the charity lias betn noiificd iti writing of both thc amowrt and scttlcm¢nt dat¢. In the event that a donation 18 subject to conditions that require a level of perfoi'mlltsce by the ¢harity before the harity is ¢ntitled to the fi)nd& th¢ inco0 is deferred al not recognised unlil either thos¢ conditions are fully L or th¢ fulfilllllt of thosv CoEItio0S is wholly wiLbill th# control of the ¢harity it is prob&ble tliat these couditiolls WAII be fitilled io the reporting period. Page 12
The WhlwDrth Celltre Ltd Notes to the Financial Statenients for the Year Ended 31 March 2024 Gronts retelpable Grants are tecogni8ed wlien the charity has ao ¢nlitleillent kn tbe fimds and aw conditions lioked to the grants have been met. Wh¢r¢ pertiKnwice conditions are aflached to the grant and are yet to be inel tlie inwme is recogiised as a liability and included on the balance sheet Hs dfeed income to be r¢lea8e(L Expendithre All expenditure ig recogn'ised once there is a legal or CoD81nliVe obligation to that. expejthiturc, it is probabl¢ Settlnel is required and the anUnt can be measured rejiably. All costs are allocated to tbe applicable exp¢nditnre heading that agwg3te similor costs to that category. Where cosLs 0t be direcÉly attributed to p'tiCular headings they hav¢ been allo¢ated a basis c0ts8iSt¢nt with th¢ ['e of resowL'es, wilb central Staff costs allocatsd oil the b&8i8 of time spen¢ aj dq5rcclatii d)aTges allo¢at¢d on the wtion of the assd's use. Othcr support costs &re allocated based on the spread of staff costs. Raisingfvnrfs tsadÉtig actiwilhx thrns¢ fth. Suppfjrt cosls ceotrnl lllav¢ beal Iv adivity cost cat¢gw¢$ a basis c(thSi8t with the of fisr ex all*18 costs ty Jjotsr pu c11 stsff ca8ts by the spelit aThl olh¢r&iJsts ty tlxii. ugy. Th¢ inrlude tht cix¥ls aittnThulabk kn the chrity'S c0llllpliCc wilh c4thl1110 arml • re(pilne4 Taxatknn Ibe is considercd to pas8 the tests set out in Paragraph I Schcdulc 6 of the Finance Acl 201.0 and theiefore it inv¢Ls the (kfmition of a charitsbl¢ LOAWY foi UK corporaiion tax pufpDses. AccordiLgly. the cliority is potLmtialty exellw froxn taxation in Tcspect of income or capital gains r¢ceived withill cutegorie covcred by Chapter 3 Part I l of the C£N30L7tioD Tdx Act 201U or StIl 256 of the Taxation of chareable Gal8 Aci 1991 to the exl'ent Iliat such Incoll or gaitis are ai)plied exclusively Eo Lh1(abLe poSe5. Tangible filed thssets llldividual fixed ussets co&titi8 £0.01 or m(vte are iNiti41ty recorded ut cost. les8 subsequent £tLcuniulate41 depttoiation subsequent ac¢ThnvlatEd irnpllirn]cnt105se& Heritage asyets II¢ritagc a&q¢ts ¢olluYise of the 'Sir Josepb Whitwoilh IstIt@ building and attached land at 11.06 hectar¢s carried at cost £1,560213. Page 13
The Wbitworth Centre Ltd Notes to the Flnancial Statements for the Year Ended 31 March 2024 Depr¢dailofj. and 2JwrtlsAth) Dcpre¢iation is provided on tsllgibie [ed assets so as to write off the co&t or Valuatio le55 any e8tim&ted residual value, Ov. tIKiT expected uKful economic Axf¢ 8s lollows: Asset cE%8s Land and buiLdiug Fun]ittwe and equipmeDt DeprectstloD method and rAte Carried at cost 250/1 Rethlcing balance BllSIns combinations Bwine&8 combinasions are account¢d fur under the ythr¢hase method. Where neceSSaryJ adjuStents are rnade to th¢ filn¢11 statanents of sthsidiari&8 to brillg the accow)ting polici¢s us¢d illto line with those used by the charil'y. All intra-ww) traThsactions, balances, income and expejjses are climinated on Gonsolidati(m. h] accordance with Section 35 ot FRS 102, SeGtAOn 19 of FRS 102 has not been applied in these financial statements in respect of business con1tIO1Ls effected or to the date of ttausitio Flxtd asset lllve%tnttnts Fixed a&8et inveskneuts other tb80 progratnll Yelated investnTht6 &Ye illcluded at ipaTkpt valuc at the balanr heet date. Rcalisvd g8ius l058e8 on investmcnts ate c&lculut¢d &$ the dtfterellce between Sales proceeds and theii moiket va]lle at the start of Ihe year, or'th2ir subse4ucnt cos¢ alld chaiged oi credited the Statement of Fittancial Activities in Éhe peri uf disposAL Utyreali8ed gfAins and 1088r% rept¥8¢Dt the ill market iolues duting the YO ajd are credited or cbtwga to the Statemant of FilT Adiv£ti¢s bas on the nrket vlllue atthe year end. Trade debtoY¥ Trzde debtots are &mouiits due fro]n sts)¢ foT mhnd18¢ 801d or srfvic¢s pthrmcd in the ordinary c(nLtBe of. business. Trad¢ d¢btors are recognised iltiallY atthe trausaction priee. They are 8ubsequently nJeR8ursd at amortised cost using the effective ittrrest method, provi8ion for impairment. A provision for th¢ impaiiment of trade debtors is &stablis1d when there is objective evidence that the charrty will noL be able to collect &unou]ts due accotdillg lo the i)rigiiTral terms olthe receivubley. Cosh 2nd cssh oquÉvalent Cash %2nd cash equivdlcnts comprtse ca%h on and. call dcpDsits, and otbeT short-terni Iiighty liquid Anvestm¢uts that arc readily convortt-ble to a known of cash and are subject to an i1]si]ricaLl1 risli ot change in Vdkne. Trade creditors Trnde creditors aiL l)bligatinns ta pay flir 8ooag or ServiL th&t ljave been ucquire(l itt Ihts ordinary course of busilless from suppli¢rs. Account8 payabl¢ aro cla¥sified as curr¢nt liabilities if thc charity doe8 not have an unconditional rigltt, at the end of th¢ i'eporting perlod. to ddei. seitlemeut of the ci'editor for Rt leAst twelv¢ months after tIE¥ itporting date. If there is all unconditiollal iigltt to defer setiletDent for &t Iiast twelve rooDths ther th¢ r¢poiting date, they pK%ented a8 noii-GIUTent lidbilrficb. Trnde credAton recognised initially at th¢ trI8ctiOn p-rAce and subsequthtly mcIred at norL1Sed cost sing th£ ¢ffectivK intyftulJuctlMMI. Page 14
The Whttworth Centr¢ Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 orrDTrVillg$ Int.eSt-bearing botrowings are ittitAally recoAded at faiL valu¢, net of transaction costs. Iatercst-be8fillg borrowings are &LibseAwently cari'ied at amortised cosl with tlie difference between the prooeeds, net of transaction costy and th¥ f¥mOUUt du¢ (m r¢dt10T[ beillg rerosuis¢d as ll charge to the Stateffjent of Financial Activities over the pwlod of the relevant bi>mhwing. Intest expense is recognised on th¢ b&sis of thc effective interest method &id is included in ii)ter¢st payable and similar cliarge& Borrowtugs are classificd as current liabiliti48 1¢8$ th¢ ¢b•ity ho8 an iwconditional rigbt to def¢r settlement of the liability for at least twelve irlonth after ttLe repoiting dat¢. Fund struetllre Unrestricted in¢ixll¢ fimds are gen¢rdl funds IIM¢ are available for use at the ttlte¢ discrdxon tn fithher&nce of the objectiv¢s ofthe ¢lMrity. Restricted incoine fiJlldB al'e t1e donated for in a partIlIar area or f. specific purposes. the us¢ of whtch is restricted kn tiiat area or pvryyose. Closgificatloll FAnancitd assets w]d t-MJaurial liabiliti rewgnised when the obarity b0J¢S a pthy to the contt'actual pi"ovisions of the 1tisfrnm. Financial liabililies euuily instrumenls are Glassified according to the substance of the ContraCbl rrangcnLCllts ¢ntsred into. An wuty ixtstrometst is ally contract that cYid¢nces a resi(luAI tllterest in the assets of the clwity after dethicfing all of its liabilities. Recogn¢lion andmeasurenieftt All fi¢1&1 as5¢ts and I.(abditi are inttially I)Ssur at traDS&rtion price (incl.uding trausaction costs), except for those fllwlal a&scts classified as at fair value througb profit or 1055, which are initially al fail. value (wliich is llomw]ly the transtion prAce ¢x¢luding transaction co&ts), unless the mngemejrt collstikntes fmcittcing transackion. If #rrangellwrt constitirtes 'i fiittllcing tExll88cÈitm. the fi]Cial asset or finallci&l b'8bility is llusured at th¢ piesent value of th¢ fuluTe paywllts discounted &t a Awket rate of interGSt foL a SAmil&r debt ienL FinClaI assets and liabililics ore onty offsct the statement of financial position whcti. atMI only when Ibere exists a Icgally enforceable riglit to set off the recognised amounts and the ¢lw'ity int¢nds eAt'hffl' to settle on L net basis, or io iralisr th¢ ass'¢t and s¢llle Ihe liability 6iu1ultsne($Iy. Fiuancial 8tss¢ts are d¢recognis¢d when a))d onty vAKn a) the Lontrdctual rights to the cath flows from the financial asset cxpir¢ or ar¢ s¢ttl¢d. b) the ¢harity tran6fers to another Pdty subsknitialty all of lh¢ risks and r¢wards of ovmerthip ol the r)n#1 asseL or c) the charily, despite having r¢t&ined some. but not all. Si5fiCant risks aud rewanb of ovrn¢ip, ttallskrred control of the asset to anotherpaty. Financial liabilities dre dVrecogl8ed oijly when the obligation spccified in the COLitt7¢t is disclwge(L cancellLd <ye expiits. Page 15
The Whitworth Centre Ltd Notes to the Thnancial Statements for the Year Ended 31 March 2024 InveshMIts InYe8im£nts in subsidtaries rneed at cosl less tmpaiTment. For invnts in subsidiaries rqLTed for cthisideration llicludills the i&sue ot. shamg qualifying llKrger reliel., cost is fnea&w'ed by reference to thc nominal value of the sl)ares isw¢d plDS fair value of othèr con8ideratioL Any PEmium is igoored. Fftir valM¥ mÉasHreM¢nt The best evideiice of fair value is a quoted pnce for identicat a&set in active n]LrkeL Wbell quoted prices are ullLvail&ble, the price of a tecetrt trausaction for att la[¢1 ELs¥et provid¢s evidEn¢e of fair vthlu¢ is IoD8 there Ita8 not been a silfi¢8]rt chang¢ in economi¢ ¢iwumstallc¢s or a signtfic&nt lapse of titne 81llce the traDs&ctiDn took place. Ir the tt[rket is not aciive and recent trattsa¢tions of att idettticul ass¢1 on their own are LQt a good ¢8tinthte of fair valu4 tbe fair volue is estinmted by using a valuation tsclll]Aque. Page 16
The Wbliworth Centre Ltd Notes to the FlnYéllcIAI Statsments for the Yerdr Ended 31 Mydrch 2024 3 Income from dDDation8 and IcBacies Unrestri¢t¢d fuuds Gelleral R&stricted rullds Totsl lulld$ Donations and leg1. DOllatiO ftom individuals Grants, including capital grnnt Gralllb from other ¢hariLies 1,332 (5,505) (4,173) 85,000 23.122 108.122 Total for 2024 86.332 17.617 103,949 Tot¥d for 2023 49,499 91,324 4 Exp¢llqlitsr¢ r4isiDg fwids a) C051& ot geu¢raliDg donations leg&c Restwicted nds Totsl funds Note Allocaled support costs 15,022 1.5.022 A'otal for 2024 15.022 15,022 b) Costs of tradiug activities Unrestrlcted Restri¢t¢d funds General fiinds Note Allocatsd xupporl costs 94,795 4.795 Total for 2024 94,795 otal for 2023 116.987 127,439 Page 17
The Whitwortb Centre Ltd Notes to the Flnanclal Statemellts for the Year Ended 31 March 2024 5 Expenditnre tharitame ctivikne Unrestricted funds GellerRI Restricted tunds Totsl fid8 Note Governance costs 13,112 13,112 Total for 2023 13,085 19,983 33,068 6 Trustees r¢mun¢ratlon and expenses No trustees, nor any ponS connected witb thenj, have received any remwieration froin the ¢harity dw'illg the ye&r. No In]sLeeÉ bave received any rei1nbLJrn any other boller fmm Ibe charty thllg tbe year. 7 Stsff tosts Employees reteiyed mtIatiO0 of £25.898 (2023. £30,829) 4dxI Xml (2023: £wl) of expemes were reAYA1tA)r1 dufing the yw. The nwnthly averngc nuinbcr of persons (Aluding senior management I leadcrb'bip team) en]ploycd by Ihc charily during the yr eX[md as fidl time equivalents &8 follows: 21124 2023 Airerag¢ nUrnb of ¢mploy¢c& 1 (2023 - 1) ol.thc above wloyees p8rli(ipad in the Defined C.oirtYibution P¢nsion Schemes. CoiiiTibuiiorn$ to the empfioyee p#nsithi wllemeg fth the yeart()tralled £563 (2023 - £1,263). During the aT, the chw'ity made redu[thY andlor tumitiOn paYts wbith totailed £Nil (2023 - £Kd). No enyloyee r¢c¢ived emoluments ol'more than £60.000 dillg th¢ yC¢W. Page 18
The Whitiyorth Centre Ltd N(rtes to the Financlal Statements for the Year Ended 31 March 2024 8 Taltgible fixed assets- Land al buildings Funylthre and equipmènt Total C08t At l April 2023 AL 31 March 2024 444J)00 115,966 559.966 444.000 115,966 559.966 DepYe¢lxtliill At l April 2023 c.harge for the ye8r A(31 March 2024 94,716 5,313 94,716 5,313 100,029 100,029 Net book y¢ At 31 March 2024 444,OIXI 15,937 459,937 At 31 Mawh 2023 444,0(X) 21,250 465250 Page J9
The Whitworth Centre Ltd Notes to the Finallcial Statemellts for the Year Ended 31 March 2024 Reva]uatlon The fair vali1¢ of the ¢omp8tys Agri¢ultuLal Land was revalued on 16 Marcb 2021 by Millr Conmwcial harteTed Surveyo, &ll independonl valuer. The basis of the valuation adopted in t]Jis instance was an assumed absolut¢ fr¢¢hold whi¢h is the subject of a protected alCUltoI tejall. Analysis of grass1 auction se reIts during 2019 & 2020 (8OUTce - BagsbHws) show averagc sAl¢ yicld of £12.919 per acre. Origin¥41 cost £61,055 Revaluation £44945 (3.479 acres Jt £11919) ReTrEIMrd carrying amount £106,000 Had this class of asse£ been measured on a histthital cosi basis, th¢ir carryillg would bave been £F4il (2023 - £Nil). 9 Hltage ass¢ts Other berlts2e Other h¥ritttg# asset X fdwet tlass 2 Tot Cust At l April 2023 1.20D.0011 360.213 1.560,213 At 31 March 2024 1.200,000 360,213 1,560,213 J)eprecixtloll At 31 March 2024 Net book vthlue At J l Muri"h 2024 1,200,(M)O 360,213 1,560,213 II¢ritage d8set cjass l £1,21X).000 Whitworth Institute Horitagtt usset Glasy 2 £360213 HLF Grdnt Gapitaii8vd in 21x17 used fot Ivhitworth Illstitute rEfuTbi8hi]Icnt Page 20
Tke WhitTrYorth Centre Ltd Notes to the Finanelal Ststem¢nts for the Year Ended 31 March 2024 10 FIX} w5set Iwe5ts Sh8TeJ in group undeTtakivg8 participating interests Sllbslldiary undertaklng Total Cost At l April 2023 At 31 March 2024 Ntt book v¥lue At 31 htsrch 2024 At 31 Marcli 2021 Det•Jls tsf vndert2klD Detsils of the investt)Mt& in which the thity holds 20Y• or rn0 of the pomiNI vahle of any Gldss of sh&re c&pital are as follows: Country ol iu¢orporatioTA Pi'oportlDn of votlng rfElrt% Prlntlpgl and Shfir held activity UTddertgking Holding 2024 2023 Sub81dthry undei'taklngs Trddin8 arw. lor the Whitworth Chality Tli¢ Whitworth c¢[.¢ (Trading) LAd ordInY shzTes of £1 (W/ England l (KW/. .11 Debtors 2024 2023 Tradg d¢btors Ikn from grow? undertakings Prepaymlts Otliei. debtors 2,661 115,837 .1,603 133 697 3,212 435 129.864 138,947 Th¢ Whihvortb Cflltr¢ffr&diN£) Lt Th¢ tr4ding subsidiary of Thc Whitworth Qntre owed £115,837 as at 31st Marcty 2024 IDrior ye8T £1.33,697). Page21
The Whltworth Centre Ltd P4otes to the Financial Statements for the Yellr Ended 31 March 2024 12 Cash and c8sh equiva]en15 2024 2023 Cash at baul£ 14.199 5.241 13 Crtditors: anwunts.falllng Jvlthln one ye*r 2024 2023 Bank loans Tr¥Lde creditors Olher l&xation and soci&l secwity VAT grnt repayable Other credito Accruals 9,518 11.507 9,292 13,027 1.512 178 407 3,570 27.8()8 2,5(H) 23,703 14 Creditors: afftounÉs falling due #fter one ye 2024 2023 Bunk lo¥u]s Other creditors 43,716 13,493 A3,493 50,933 57,209 GTant3 thal havc becu rccrAved and Ivhwc thc conditio$ for At8 Use have not yct becn meL the tncome is iecognised a liabi.tity on the balate Sheet 4s Ikt"erred Anconr £13,4J¢ 3 as at 31 gt March. 2024 (£13.493 prior year) . Page 22
The Whitworth Centre Ltd Notss to the Flnxnctxl Statements for the Year Ended 31 Mllreh 2024 15 Thnd5 Balxntè #t i April 2D23 ICOMIng resources Resourees pended Balance ¥4t 31 March 2024 UnreBtrleted General 394399 110,255 {107,907) l5,022 396,747 Re%tActed ndS I,690237 17,617 1,692,832 Tot&1 funds 2,084,636 127,872 (122,929 2 089,579 Balanee at I Apiil 21122 Resources expended Balance at 31 Iorcb 2023 resources UnrestrActed Innds Genernl 437,388 87.083 (130,072) 30,435) 394,399 Restrict¢d 1,&7J.173 49,499 1,690237 Total fund 2,108 561 136,5%2 (160.507) 2,084,636 16 AnL41ysis of net *ss¢ts Ixtween fund% Toknl fullds at 31 MarLh 2024 Restrleted fullds GenerMI Tangible fixed assets HeritaEe £isbef8 459,937 459 g37 1.560213 1.560,213 cent ass¢ts CwTcnt IAabAlili& CroditoiT OV l y 144,063 (23.7U3} 50933 144,063 (21,703) (50,933) 2,089,579 Tot ussets 529.366 1560,213 Page 23
The Whitworth Centre Ltd Notes to the Financial Statemellts for the Year Ended 31 March 2024 UnTestri¢éed fllndi Gen¢r#l Total funds at 31 March 2023 Restiicted funds Tangible ftxcd H¢rits8e asset8 Fixed ass¢t investments Clltr¢nt as8ets Cwreni liabilities CreditOlE over l year 465250 465250 1,560,213 1,560,2I3 144,188 {27.808} 57,209) 144,188 (27,808) (57,209) Tothl net Assets 524,423 1,560,213 2,084,636 Page 24
The Whitworth Centre Ltd Statemellt of FKnancial Activities by fund for the Year Ellded 31 March 2024 lJnrestricÉed Funds Total Ullrestrlctod Unrestrlcted Fuuds Fuuds 2024 2023 Income and Eudo)Tnwits from: DoJiatiO and lega¢ie& Other income 86,332 23,923 41,825 45,258 Totsl iftcome 110255 87.083 E3peJ]diknre on: RLLising fi]uds Chant&ble aciEvities (94,794) (116,98T) 13,112 13.08 Total expendilure N¢1 ift¢oJJie/(expenditure) Net nKWeMrt iij fvjds 107.90 130.072 2.348 {42.989 2.348 (42,989) Re¢on¢lliatlon of fund Tot&l fimds brought forward 349,454 392,443 Total fimd8 carried foThvard 351.802 349.454 Tbis page does not pftrt of the stathlory fillancial sthtements. Page 25
The Whitsyorth Centre Ltd ststement of Finallcial Actlvttles by fund for the Year Ended 31 March 2024 Restrieted Funds Total Restrlcted Funds 2024 Total Restrlcted Vvnd5 21123 Income amd EllthilvEllts from: Di)nations Icgxci¢s 17.617 49,499 Total incojne 17,617 Kxpendithre on: Raising fuuds Chatitable activitie8 (15,022) (10,452) Total upGnditure (15,022) (30,435) Nd uicon 2,595 19,064 Net monllt in fimds 2595 ReeoMrlli&tlon of fund Totsl lknds bmugbt forrd Total fld8 carriedfoJTrYard 1690237 1,692,832 1.671,173 1,690,237 This page does not forn] part of the.8tatstory fin8nciaE statemcnts. Puge 26