Charity Registration Number: 1126401 TUBESTATION POLZEATH EST.06 Trustees, Report, Independent Examiner's Report and Financial Statements for the year 1st January 2024 to 31st December 2024
TUBESTATION POLZEATH EST.06 TU8ESTATION Report of Ihe Trustees for the year ended 31 St Dember 2024 The trustees present their annual report and independenY examined financial slalements for the year ended 31 St December 2024 and confimi they comply wilh the Charities Act 2011. the constitution and the provisions of the comply with Chaiity commission reporting guHYance SORP IFRS1021. Reference and Administrative Information Charity Name Tubestation Charity Registration Number 1126401 Address Trebelherick Hill Polzeath Comwall PL27 6TB Board of Trustees Names of the trustees who manage the charity during the financial year and lo the dale of this report.. Daniel Jones (Chairl Martin Taylor Gabriella Askwtth Independent Examine Trudgeon Halling Wadebridge Coinwall Bank HSBC Molesworth Street Wadebridge Cornwall
Organizational structure Tube5taiion is a chlty registered with the Charity Commission under charity number 1126401, set up and run by members of Polzeaili Methodist Church. The Charity tru.4tees give their lime freely and receive no remuneration or other finan¢ial b¢n¢fi15 for b¢ing trust¢es. To ensure the smooth running of the charity the lrnslees delegote operotional responsibility to a leadership team to oversee day lo day aspects of the ¢hArity's work. Thi5 leadership team also functions a% thc Polzcaih Mcthodist c.hurch council with the authority to act on behalf of Polzeaih Methodist Church. Objectives and activities Our aims Tubeslatton .seeks creative ways io use ils resources and links to bcncfit people and build community, particularly within the surf and coastal Culture of Cornwall. Chxritable object5 To assist and maintain a Christian wiiness within thc surfing community. To provide for the b¢n¢fil of ihc inhabitants of Polzeath and ihe suThounding area and the public at larg¢ facilities and resources in the interests of social welfare for recreation or other leisure time occupaiton with the objects of improving their ¢ondiiions of life and PTOtnoting greaicr Sense ot community cohesion. To aci as a re%ourL¢ fi)r yi)ung pcoplc by providing a warm safe place to meet iogeiher and organizing activiiies as a means ol-advancing in lite and hclping young people b), developing their skn.lls ¢apaciiies and c8pabili(ieb io enable them to participate in sociely as independent mature and responsible individuals by way of improving their access io culrnre. sport and play and positive out of school. Strategies Tubesiation was started as a small not for profit organizalion in O¢tober 2006, wilh an ovcrsight ¢ommitt¢c, 2 grani funded employees and an undesed chapel (Polzeaih Methodisi Chur¢hJ ab Ils premises. Tubeslaiion has sought io improvc and build upon the capacity of these resources to serve and be of benefit 10 the surrounding community, and in October 2008 Tubestation registered as charity. The Tubeslation building is open lo the public most days, right through the year, 8nd is staffed by a small team of paid staff and volunlc¢rs. A stnall number of commercial elements have b¢en in¢lud¢d To make the project as self-sufficieni as possible, and also to help meet ihc purposcs. Jt is also home to a worshipping Christian community which meet.s on Sundays and at other timcs durinE the week in various fornis.
By keeping) our eyes open to the Changinby needs of the surrounding community, Tubestotion's trustees, staff and volunteers actively s¢¢k ways in which resources can be used lo better benefii and build community - both in Polzeaih and oiher local communilies on the coast which have an active surf culturc. as pcr the charity's obJective5. Sirategies employed may include joining the local Residents or Parish A550cialion, clubs where appropriate. and getting involved with Councils to build relationship. or providing space and opportunities for such local groups to flourish within Tubestation space. Th¢ Charity and its activities are promoi¢d and advcrtised in a number of ways including Facebook, Instagram. email. by word of mouth io church and other community ¢onta¢ls. leaflets. posters, newspapers, as well as newsletters. Tubestalion Polzeath has found that il serves a broad conimunity which includes local residents.. local clubs and assoLiations- people on holiday in the area: travelling surfers and churchgocrs,. and as relations with each group continues lo grow, so too does publicity by word of mouth. Tub¢s(ation's vi)luni¢¢rs alsu s¢¢k tv bc uf rncourag¢ment and hclp to any oihcr church or community organizalion that wishes to serve ils community better. Communlty a¢¢li'l¢ies During the year under review OUT community building in Polzcath, closcd its regular cafc, due lo financial pressures and our lay pasior stepped down. However: we continued to provide a valuable spac¢ - we opened on Thursdays prayer m¢etings. Fridays for 2 toddler group and Sundays for our church service. We a150 opened for two days a week during the summer holidays. This provided a warm welcome, tca, coffee and cake5 for visilors who were passing through. Furtherniore. this primarily offerq a Sale place for people to come and includes an indoor skaleboard ramp. board games. music. food and drink. indoor and outdoor scating on two largc wooden decked arcas and wi-fi intcrnct. The comniunily surf club has continued to usc the building. crcating great rclationships with lo¢al surfers. The beachside localion makes for a creative working environment and when open the facility has prov¢d itsclf as being of Yalu¢ to thosc 5¢cking a place to work. to mcct, or just relax. It is rcgulaTIy sed for communiiy meetings, busines5 functions, or as a neutral space for individuals to work or study away Irom home. Zeaih Gallery is a Venre which operates from the room below the skate ramp and serves to encourage local creativity and build community based around ihe arts as well as being a source of income for the Charity. A5 well a5 the gallery the vcnue in Po17.eaih CUentlY allocates much of its wall spacc to hang paintings and photographs by local artists and photographers, and also provides ihe publi¢ with organized exhibitions by local artisls on site. The primary purpos¢ of the gallery ts to ¢r¢at¢ and encourage cornmunity for local artisls. Polzeath Methodist Church offers a public service every Sunday at l Oam. The service welcome% hundreds of holiday makers each year who enjoy th¢ location and hospilality provided by the small local congregation. Over the past year the Sunday school have benefited from surf lessons And a range of creative activilies which has helped us engage more with local faniilies. We had 2 child dedications and one funeral held at the church over the year which were great opportunities to celebrate with our communTty. Many thanks to the staff. volunieers and supporters who mak¢ it possible for Tubesiation io open its doors and operate thioughoul the year.
Par¢ner$hlps Tubestation benefils from adapting and using the policies and iraining of the Meihodiqi Church, and is well known across the wider Methodist Church as a vibrant ¢hurch and outreach io ihe local community. Tubestation work.q in partnership with Christian Surfers UK to host the Jesus Longboard Classic surf ¢omp¢tition. Polzeath Methodist Church r¢nts some spac¢ io George's Surf School for board slorage. The surf school operates from the site and provid¢ surf le%son% for both individuals and comtnunity groups. Georg¢'s surf school also facilitates lh¢ local community surf days for all agcs. Publie benefit The ¢harity values a running dialogue with all its Users and other members of the public about what it offers lo ensure it is m¢eiing its obj¢¢tives dnd consianily improving its public benefils. Fln2)Jeial Review A meeling was held with the wider communtty io discuss the future of the cafe early in 2024 and the decision was taken lo temporarily close the café in March 2024 in order to achieve a break-even budget (or 2024. This allowed outreach activities to run independenily from the café. The closure of the café reduc¢d rnnning cosis and ther¢fore reserve requirements by around 51Y/. In 2024 Tubestation achieved a surplus of £10,762 which in¢re¢ised our unrestrictcd reseTves ¢0 £50,863. This alongside our restricted building fund of £34,672 allow's for future building works which will enabl£ our building to better serve the community and mission. Reserves Policy The reserves policy is to keep a minimum of three months basic running cosis. This policy is reviewed periodically by the tTUStce5.
Plan5 for future periods The site at Po17eath has been a Methodist chapel since 1933 gnd Tubestation has been in operation as a not-foi-profii organization since 2006. During ihe year we got local authority planning perniission and support from our lo¢al Methodist Circuit for new plans to r¢fr¢5h the sit¢ and make it better suited to the curr¢ni n¢¢ds of ihe users and community. The new plans aim to addr¢ss issues wilh the decking, the marqvec and ihe kitchen outlined below. We have madc repairs to the decking and it is becoming increastng apparent ihai this needs to be rcplaccd as a rnatter of urgency as strnctural Iinibers are rotting. Our temporary marquee which has been crected each year provides much needed extra space, but we would like lo develop ihis into a more pennan¢nt space with a betier flow into thc building to allow more capacity during the holiday season. Our kitchen is large and diqjoinled and the currcnl setup does not allow for a single employee to operate the café over th¢ qui¢ler seasons. We are looking to strcamline the kitchen to make it easier to operate. Risk maDa2emen¢ The trustees hav¢ ass¢ss¢d the risks th¢ charity facc5 and havc made a series of assessments which identify the major risks by ar¢a of aciiviiy, iypes of risk, their potential scvcrity and likclihood. and the mcusures taken to manage them. This risk register is reviewed at least annually, or mor¢ fr¢quenily depending on the risk. Th¢ finances of the charity are kepi under revieiy and there are policies in place to ensure the charity's financial systems represeni bc5t PQS5iblc practicc. Appropriate checks, supported by a regularly r¢vieived Safeguarding policy, are made for those who work '[th childrcn or other Trwlnerable groups on behalf of Tubestation.
Stalement of Trustees. re5POnsibilitie$ Truslees are responsible for preparing an annual report and financial statements in accordance with applicable law and United Kinb)dom Atcouniing Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo ¢haritics in England and Wales requires the charity Irustees to prcpare financial stat¢m¢nis for ¢a¢h year which give a truc and fair vicw of th¢ slatc of affairs of ihe charity and of the incoming resources and application of resources of the chariry for that p¢riod. In preparing the financial slatements. the trustees are required to.. select suitable accuuntin¥ policic5 and tl)en apply ihem consislently,. observe the methods and prtn¢iples in The Charilics SORP., • make judgments and estimates ihai are reasonable and pNdeni: state w,h¢thcr applicable accounting standards have b¢en followed, subj¢¢t lo Jny ma¢¢rial d¢partures disclosed and explained in the financial ststements; prepare the financial 51atcmcnts on thc going concern basis unless il is inappropriate io presume ihat th¢ Charity will Continue in bvsiness. The trustees are responsible for k¢¢ping proper accounling records that disclose with Teasonable accuracy at any time the financial position of the charity and to enable them to ensure ihat the financial statcmcnts comply wilh Charity commission reporting guidance SORP {FRSI 02). and th¢ provisions of ¢hc constitution. They are also responsible for safeguarding ihe assets of ihe charity and hen¢¢ idking reysonable steps for thc prevcntion and dctection of fraud and other irregulariiies. Tbe trustees for the purposes of ¢harity law who served during the year and up to ihe date of ibis report are set out on the froni page of this report. Approved by the trnstee5 and signed un their behalf by.. )?- Name.. Daniel Jones Position Chair of trustees Dale: 1611.Q12025
TUBESTATION Independent Examiners Report For the year ended 31 st December 2024 Independent examiner's report to the Trustees of Tubestation I report to the Irustees on my examination of the accounts of Tubestation for the year ended 31 December 2024, which are set out on pages 8 to 24. Responsibilities and basls of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Acl'}. I report in respect of my examination of the Trustee's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charily Commissioner Ltnder section 145{5)(b) of the 2011 Act. Independent èxaminer's ststement I have completed my examination. I confirm that no material matters have come to my 8ttenlion in connection with the examination giving me cause to believe Ihat in any material respect.. {1) accounting records were not kept in respect of the Trust as required by section 130 of the 121 Ihe accounts do not accord with those records,. or {3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other Ihan any requirement Ihat the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. )p4 Joseph Tamblyn FCA Trudgeon Halling Chartered Accountants The Plalt Wadebridge Cornwall PL27 7AE Date:
Tubestation Statement of Financial Activities for the period ended 31st December 2024 Total funds Total Funds Endowment 0110112024 . 0110112023 - funds 3111212024 3111212023 Unre$tri¢t8d lunds Restricted funds Note Incoming resources Incoming resources from generating funds Donations and legacies 70,674 Charitable activities 7,508 Other trading activities 2,384 Investment income 875 Total incoming resources 5,060 1,364 75,735 8,872 2,384 875 63,388 79,357 17.955 1,325 81,441 6,425 87,866 162,024 Resources expended Costs of Generating Funds Other trading activities Grant making Charitable activities 4,461 21,492 36,081 4,461 21,492 47,930 7,005 23,480 161,021 8&10 11,849 Governance costs 12 3.221 3,221 3,963 Total resources expended 65,254 11.849 77,104 195,469 Net incoming/(outgoing) resources before transfers 16,187 (5,425) 10,762 (33,445) Transfers funds Net movement in funds 16,187 (5,425) 10,762 (33,445) Reconciliation of funds Total funds brought forward Total funds carried forward 34,676 40.097 74,772 108,217 50,863 34,672 85,533 74,772
Tubestation Balance Sheet as at 31 December 2024 2024 2023 Note Fixed Assets Tangible assets 16 3,651 6.865 Current Assets Stocks and work in progress Debtors Cash at bank and in hand 126 17 85,446 85,446 71.779 71.905 Credltors: Amounts falling due within one year 18 3,566) 4.000 Net Current Assets 81,880 67.905 Net Assets 85.534 74,772 The funds of the charity Restricted funds in surplus Restricted funds in deficit Total restricted funds 20 20 34,672 40.097 34.672 40.097 Unrestricted funds Unrestricted income funds 20 50,863 34.676 Total charity funds 85,534 74.772 The financial statements have been prepared in accordance with the Financial Reporting Standard FRS102 and in compliance with the Statement of Recommended Practice 'Accounting and Reporting by Charities. (SORP FRS102). Approved by the Board on . 1611012025 . And signed on its behalf by: JPk- Name: Daniel Jones Position: Chair of trustees The notes on pages 10 to 24 form an integral part of these financial statements.
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 Statement of compliance The finan¢ial statemenls have been prepared in accordance with the Charili&s Act 2011.The have also been prepared in compliance with the Statement of Recommended Practice "Accounting and Reporting by Charities" ISORP FRS102) and FRS102, the Financial Reporting Standard applicable in the UK and republic of Ireland. Tubestation is a public benefit entity. The Truslees consider that there are no material uncertainties about the charItS ability to continue as a going concern. The charity's trading activities continue to perform well and the charity expecls to continue to received sufficient grant funding to allow it to meet it's objectives. 1 Accounting policies Basis of preparation The financial slatements have been prepared on a going ¢on¢ern basis under the historical cost convention. The financial statements are prepared in sterling, which is th8 functional currency of the entity. Fund Accounting Policy Unreslricted income funds are general funds that are available for the use at the Trustees, discretion in furtherance of the objectives of the charity. Restricted funds are those donated for the use in a particular area or for spe¢ifi¢ purposes, the use of which is restricted to thal area or purpose. Designated funds are unrestricted funds set aside at the discretion of the Trustees for specific purposes. 10
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 Incoming resources Voluntary income including donations and grants that provide core funding or are of a general nature is re¢ognised under the accruals model where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Government grants are recognised under the performance model as required by the Charities SORP (FRS102). Gifts in kind are recognised where goods or services are provided free of charge and the cost can be determined with a reasonable level of accuracy. Incoming resources from lax reclaims are included in the statement of financial activities at the same time as the gift to which they relate. Investment income is recognised on a receivable basis. Income from charitable activities includes income recognised as earned (as the related 900ds or services are provided) under contract. Resources expended Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Costs of generating funds are the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activilies and services for ils beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indire¢t nature necessary to support them. Grants payable are payments made to third parties in the furtherance of the charitable objectives. Where Ihe charity gives a grant with conditions for its payment being a specrfic level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided Ihe specific service or output. Grants payable without performance conditions are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. 11
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 Governance costs Governance costs include costs of Ihe preparalion and examinalion of the statutory accounts, the costs of Trustee meetings and the ¢osl of any legal advice to trustees on governance or Constitutional matters. Support Costs Support cosls include central functions and have been allocated to activity cosl categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Fixed assets Individual fixed assets costing £100 or more are initially recorded al cost. Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all langible fixed assets. other than freehold land. at rates calculated to wrile off the cosl, less estimated residual value, of each asset evenly over its expected useful life, as follows: Planl and machinery Fixtures and fittinqs Motor Vehicles Property Office Equipment over 5 years over 5 vears over 4 years over 5 years over 3 years Stock Stock is valued at the lower of cost and net realisable value. Debtors Short term debtors are measured al transaction price. Creditors Short term ¢dItorS are measured at transaction price. Financial instruments A financial assel or liability is recognised only when the charity becomes party to the contractual provisions of the instruments. Basic financial instruments are initially re¢ognised al the transaction price, unless the arrangement Gonstitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interesl for a similar debt instrument. 12
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 2 Donation and Legacies Unrestrlcted Funds Restricted Funds Endowment Funds 2024 2023 Donations and legacles Committed giving Appeals and donations Gift Aid tsx reclaimed 26,921 26,921 29,045 39,533 3.060 42,593 27,782 4,220 70,674 4,220 73,735 4,561 61,388 3.060 Grants Grants - other agencies 2,000 2.000 2,000 Gifts in kind Appeals and donations 70,674 5,060 75,735 63,388 3 Grants Receivable Unrestricted Funds Restricted Funds Endowment Funds 2024 2023 Donations and legacies Edgar E Lawley Foundation 2.000 2,000 2,000 2,000 2,000 2,000 13
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 4 Charitable Activities Unrestricted Funds Restrlcted Funds Endowment Funds 2024 2023 Charltable actlvlty Misslon and Café Tubestation 7,508 7,508 1,364 1.364 8,872 8,872 79,357 79,357 5 Other Charitable Activities Unreslricted Funds Restricted Funds Endowment Funds 2024 2023 Operaling A¢tivily Zeath and Merchandise Sales of goods on commission Youth Work Other income arising from the café 2,384 2,384 17.955 2,384 2,384 17,955 6 Investment income Unrestricted Funds Restricted Funds Endowment Funds 2024 2023 Solar Panel Income Interest on cash deposits 668 875 875 657 875 875 1,325 14
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 7 Fundraising trading: other trading activities Unrestricted Reslri¢ted Endowmenl Funds Funds Funds 2024 2023 Operating Activity Zeath and Merchandise Cost of goods sold Support costs allocated 4,461 4,461 4.461 4,461 7.005 7,005 8 Details of charitable activities Activities undertaken directly Grant funding Support Costs of activities Allocated 2024 2023 Charitable Activity Café and Mission 3,702 21,492 44,228 69,422 184,501 ECLAS - life on edge 3,702 21,492 44,228 69.422 184,501 15
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 9 Support costs Zeath and Merchandise Mission Govornance Total Employment costs Pension costs Staff training and welfare Eslablishment Costs Repairs and maintenance Office expenses Printing, posting and stationery 18,940 297 1,950 5,599 11,616 1,558 18,940 297 2,350 6,746 13,996 1,877 399 1,147 2,379 319 32 105 157 514 189 619 Subscriptions and donations Travel and subsistence Advertising and promotion Accountsncy and payroll fees Independent examination fees Bank charges VAT flat rate adiustmenls Depreciation of tangible fixed assets 212 256 2,081 1,140 2,081 1,140 207 35 172 3,212 44,228 3,212 51,910 4,461 3,221 10 Grant making Grants to institutions Grants to individuals Charilable Activities 21,481 10 16
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 11 Grants to institutions Name of institution Polzeath Methodist Church Creation Fest Christians Against Povety Christian Surfers Jesus Longboard Activity Mission Mission Mission Mission Mission 18,818 457 1,200 456 550 21,481 12 Governance costs Unrestricted Funds Restricted Funds Endowment Funds 2024 2023 Support costs allocated 3,221 3,221 3,221 3,221 3,963 3,963 13 Trustees. remuneration and expenses During ihe year the following remuneration was paid to trustees. The trustees were paid in relation to additional work undertaken by themselves on behalf of the charity not paid in relation to their position as a trustee of the charity as allowed by the charity's governing constitution. 2024 2023 Mrs S Doyle 12,305 22,450 No expenses were paid to trustees during the current or previous year. During the year pension contributions totalling £332(2023.. £486.30) were made by the Gharity for the benefit of Mrs S Doyle. 17
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 14 Net outgoing resources 2024 2023 A¢¢ounlants fees for Independent examination Accountants fees for accounts preparation and payroll services Depreciation of tangible fixed assets 1.140 2,081 3,212 1,094 2,869 3,824 15 Employees. remuneration The average number of persons employed by the charity (including trustees) during the period was as follows: 2024 No. 2023 Charitable a¢livilies The aggregate payroll costs of these persons were as follows: 2024 2023 Waqes and salaries Pension Costs Social security 18,940 297 79.508 653 19,237 80,161 No employee ceiVed remuneration amounting to more than £60,000 in either year. 18
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 16 Tangible fixed assets Freehold inlerest in land and buildings Plant and machinery Fixtures. including fittings and motor vehicles equipment Total Cost Asat1 Januarv 2023 Additions Disposals As at 31st December 2023 1,063 43,955 21,123 66,141 1,063 43.955 21,123 66.141 Depreciation Asat1 Januarv 2023 Charoe On disposals As al 31st December 2023 1,063 41,654 575 16,559 2,638 59,276 3,214 1,063 42,229 19,198 62,490 Net book value Asat1 January 2023 Asal 31st December 2023 2,301 4,564 6,865 1,726 1,925 3,651 17 Debtors 2024 2023 Trade debtors Other debtors 19
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 18 Creditors: Amounts falling due within one year 2024 2023 Bank loans and overdrafts Trade creditors Taxation and social security Accruals and deferred income 607 132 3.434 3,566 3,393 4,000 19 Related parties Controlllng entity The charity is controlled by the trustees. Operational management of the charity is delegated by the trustees to the Church Council of Polzeath Methodist Church. Related party transactions Polzeath Methodist Church Polzeath Methodist Church is a separate charity which is excepted from registration with the Charity Commission. The Polzeath Methodist Church Council acts as its managing trustees with responsibility for the site and building. Tubestation makes payments to Polzeath Methodist Church to cover the "assessment" or contribution paid by Polzeath Methodist Church lo Bodmin. Padstow and Wadebridge Methodist Circuit (registered charity number 1153871). During Ihe year the charity paid Polzealh Methodist Church £18,818 (2023: £18,061). Other users of the Tubestation site George's Surf School rent space underneath the decking for board storage from Polzeath Methodist Church. George's Surf School offer surf therapy and communily surf programmes through its associated Community Interest Company {CIC) Another Wave. There are no payments belween Tubeslation and George's Surf School or Another Wave. Grants & support for events: A lotsl of £1,006 (2023.. £2,459) was paid to Chrislian Surfers, a UK registered charity, for whom Tnjstee Philip Williams also act as trustee. £456 was paid as a charilable grant and £550 was paid in sponsorship of the Jesus Longboard Classic12023- £1,914 was paid as a charitable grant and £545 was paid in sponsorship of the Jesus Longboard Classic). 20
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 20 Analysis of funds At 31st December 2024 At 1st January 2024 Incoming Resources Resources Expended Transfers Designated Fund Hardship fund 10 10 General Fund Unrestricted income funds 34,676 81,441 (65,244 10 50,863 Restrlcted Funds Esta ECLAS- Life on Edoe Specific Equipment Building fund 40,097 40,097 6,425 6,425 11,849 11,849 34.672 34,672 74,772 87,866 (77,1041 85,534 21 Transfers During the year £1012023.. £1,422) was transferred to the Hardship Fund from unrestricted funds lo assist with the Hardship Grant paid during the year. 21
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 22 Net asset by fund Unrestricted Funds Restricted Funds Endowment Funds 2024 2023 Tangible assets Current assets 3,651 3,651 6,866 50,774 34,672 85,446 71,905 Creditors.. Amounts falling due within one year 3,5661 50,859 3,566 85,534 4,000 74,772 34,672 Hardship Fund 2024 Hardship Fund 2023 Resources expended Charitable aclivilies 10 10 1,422 1,422 Net outgoing resources before transfers (10) (1,422) Transfer Gross transfers beeen funds 10 1,422 Net movements in funds Reconciliation of funds Total funds brought forward Total funds Garried forward 22
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 Unrestricted Unrestricted In¢ome Fund Income Fund 2024 2023 Incoming resources Donations and legacies Charitable activities Other tradinfj activities Investment income Total incoming resources 70,674 7,508 2,384 875 81.441 61,388 79,357 17,955 1,325 160,024 Resources expended Other trading activities Grant making Charitable activities Governance costs Total resources expended 4,461 21,492 36,081 3.221 65.254 7,005 23,480 155,007 3,963 189,455 Net outooinq resources before Iransfers 16,187 {29.430) Transfers Gross transfers between funds Net movements in funds 16,187 (29,430) Reconciliation of funds Total Funds brought forward Total Funds carried forward 34,676 50,863 64,106 34,676 23
Tubestation Notes to the Financial Statements for the year ended 31 December 2024 Building Fund Building Fund 2024 2023 6,425 2,000 Voluntary income Activities for generating funds Investment income Incominq resources from charitable activities Total incoming resources 6,425 2,000 Resources Èxpended Fundraising trading.. advertising, repairs and maintenance & fixed assets Charitable activities Governance cosls Total resources expended 11,849 6,014 11,849 6.014 Net outqoing resources befor8 transfers (5,425) {4,014} Transfers Gross transfers beeen funds Net movements in funds (5.425) {4,014) Reconciliation of funds Total funds brought forward Total funds carried forward 40,097 34,672 44,111 40,097 24