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 Tn￿tees, Report 2to7 1nd￿end¢llt Examitt&s R¢tM)rt Stat¢n]elll ofFIna￿la1 A¢tivitie$ Balattce Sheet iotoii Notes to the Financial Sthtements 12to24 T￿e Whitworth CeRtre Ltd Strvdtegic Report for the Year Ended 31 March 2024 t￿￿te2&, who aFe dir¢ctors foi. th¢ purp08es of CDnwally law. prE8ent th¢ir stratcgifj r¢p￿t 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 app1oxii￿atety 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 Si￿ed 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 p￿￿ller¢d with ConllnUnity.￿ to pmvid¢ events andactivities for all age groups. - We hav¢ li￿eSted in a nwnber of ojsgoing buildillg and p￿k 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 Conr￿lty. - Help create stronger, rewarding rslatio￿3bips 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 Y￿￿dents of Darley Dale a￿d 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 Ch￿tieS Act2011 10 Jkntvc due rega￿ to the public bcllLfit ￿Ud2￿ce published. by the Chariti18 COmmi￿10n foT England dnd Wales. Pag¢ 2 Tke Whltworth Centre Ltd Tn￿tees, 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 fin￿1claI 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 and￿￿ll￿geMent of a I￿l￿ge 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: Tn￿t8es." 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 Lo￿S (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￿ (appon￿ed20 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 S￿tend)er 2023 and re81gE￿d 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 Manage1D￿J( l Lladership Teani: RefereDce Adwiuistrath*t Det￿ Charty ReElStr*tiott 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 fi￿anciaL 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 fin￿ilL 8p¢Gulalive purpos¢s. Cashflow pysk Tlje Ch￿￿ty.8 activitics expose it prin)arily to d)e rigks of chaiigcg iii forci￿] cun'ency exchange Tatss and inter￿t rat&s. Th¢ clwity V8e8 foreign- exchung¢ forward conlracts ￿}d interest rate swap Gonlrnrts to hodge these exposiire8. Inleregt be￿illg assets li&bilittes held llt fixed. T8tetO fflL%ure cerlaiiily of Lash klows. Creditrfsk Tlie Lhatily'8 princip41 'trinanLial ar¢ bat& ba1￿C¢S casl4 knde at]d otheryece1vab1￿. and inV￿tments. 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 alloW￿￿e 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 liq￿la fim(Lg und dcrivative fini￿01a1 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 n￿l1}taIn liquiidenti81 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" Compl￿Y law reqlltreg the trustses to prep&r fl3u￿C1ll1 staternents for each financial y￿. Under company law the trustees tnust not approve the fu￿ClaI St￿tell￿n￿ 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 fi0￿1a1 8lat¥meM8, thr tr￿Slee8 3r¢ Tequir¢d to: selzGt SiiAÉabl¢ ￿¢1)U￿ting 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 mat￿1&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 Pre￿￿lle that the ch￿l￿ble Comp￿ry will Continue in bllsin￿. The tsiistKs ar¢ ￿spOnS]1 Ile for k¥￿illg pi(y¢r A¢countÈng records that CAU disclose with [￿O￿Abl# 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 pr￿entll0n atMI deteL%i()n ol. frdud other irreguldtllties. The trustees are responsible for Éhc maiMtcnJnce alld illÉeEiity of thc cthptnte and f￿r1}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 Staten￿nt 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 op￿￿tion& 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 Tn￿t￿$. all of whmn are Tegistered with Comptmie5 House as Dir¢ctors. The sol¢ Jnernber ot ThcV/hitworth C£1￿c Lld is D￿.1¢Y Dale Town Couttcil. as S￿h. ithas controllirtg shRre of Thc Whitworth. It's obligati(m is to provide 7 ConnLillors to 8lt on the Boanl of12 Tnu3t¢￿. Thg Trustees meet once a mojitli io dis￿53 busTrness pthrnwcc and to agpre,e business irnPtI)v¢maits. They arc further divided ijito fouT sub-conmittees which have sp¢rAfic T￿p(￿sIbilItIes as prescribedin the scopc of thL coin(nittee. Uiider the tr￿st deed of 1898, The IVhiÉwortlL (fnrnully The Wbitwortli lttstilute) wa% established on 1st Noventher, 2008. The activitiEs and und￿'t￿l￿1￿ of th¢ rhorkty wcrc thii ov¢r. by th¢ Jimit¢d compauy in tho naille of The Whitworth C￿tre. All the assets liabilities ol the oiiginal ch<1rity ts7nsferied Lo the conu)any. Board nf Trust￿5 Geiieral Manag De￿ity manager & Fiaance oifi¢u, Centr¢ Admiiii8traloi'. LKad Centre Operaliv¢, Ev¢ots Sales & ￿￿'k£ll￿g Manager, C'atcriti8 Tctull. Page 7 The Whitworth Centre Ltd Independent Examiner's Repor* to the trusjtees of The Whihvorth Centre I,td (Ithe Company,) I r¢port to the Gharity Itvslees mhwing. Inte￿st expense is recognised on th¢ b&sis of thc effective interest method &id is included in ii)ter¢st payable and similar cliarge& Borrowtugs are classificd as current liabiliti48 ￿1¢8$ 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 ttl￿te¢ discrdxon tn fithher&nce of the objectiv¢s ofthe ¢lMrity. Restricted incoine fiJlldB al'e t1￿￿e donated for in a partI￿lIar 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 b￿0J￿¢S a pthy to the contt'actual pi"ovisions of the 1tisfrnm￿. Financial liabililies euuily instrumenls are Glassified according to the substance of the ContraCb￿l 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 fllw￿lal a&scts classified as at fair value througb profit or 1055, which are initially al fail. value (wliich is llomw]ly the trans￿tion 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 i￿￿￿enL Fi￿nClaI 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. Si￿5fiCant risks aud rewanb of ovrn¢￿ip, ttallskrred control of the asset to anotherpaty. Financial liabilities dre dVrecog￿l8ed oijly when the obligation spccified in the COLitt7¢t is disclwge(L cancellLd