CULLERCOATS WATCH HOUSE (Company Limited by Guarantee) TRUSTEE'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 Charity RegRStered No: 1126835 Co. Registered No: 5984013 CULLERCOATS WATCH HOUSE CONTENTS Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts CULLERCOATS WATCH HOUSE TRUSTEES, REPORT For The Year Ended 31 October 2024 The Trustees present their report and accounts for the year ended 31 October 2024. REFERE]YCE & ADMINISTRATION DETAILS Name th The name of the Charity was changed on 30 July 2021 from "The Watch House Club" to "Ciillercoats Watch House" Registration ￿'Umber The organisation is a Charitable Conipaiiy limited by Guarantee and not having a share capital. Thc Compaiiy registration nviiiber is 5984013.Tlie Charity Commission regislralion number is 1126835.The Charity Regislralion was effecled on 21 November 2008. Address The postal address of ihe principal office of the charity is The Watch House, Front Street, Cullercoats, Tyne and Wear, NE30 4QB Trustees Tnislees who served in orrice during the period I, November 2023 to the date of this report were as follows'.- Mr. F. G. Taylor (Chair lo 28 Noveniber 2024) Ms. N. E. Scorer (C'hair from 28 November 2024) Mr. D. Hodgson (Treasurer) Mr. G. E. Harrison Mr. M. English Ms. H. M. Whitehead Mr. P. A Brown (to 14 April 2025) Mr. D. Humphreys (10 28 NoveTnber 2024) Mr. T. D. Parrish (from 4 January 2024 to 12 September 2024) Ms. J. E. Flint (from 29 Marcli 2024 to 27 June 2024) Mrs. S. Cliffe {to 4 January 2024) Secretary Secretarial Asbistance has been provided by Ms. Lynn West Bankers HSBC Bank plc, Newcastle upon Tyne. STRUCTURE, GOVERNANCE & MANAGEMENT Governing Document The organisation is governed by iiiemorandum and articles of association of a charitable company. Recruitment & Appointment of Trustees The preseiil trustees were appointed because of their connection with the Watch House and the community of Cullercoais. Tnistees, other than Slibscriber tnislees, are appointed at AGM or may be co-opted during the year by the existing Trustees. Induction and Training of Trustees The process of induction and traiiiing of new Trustees is under the personal guidance and supervision of the exisiing Trustees. Organisational Structure and How Decisions are Made The day io day nianagement of ihe Charity is in the hands of a Trustees assisled by volunteers under the supervision of ihe Chairman. Relationships with Related Parties The adminisiration of the Charity is undenaken auionomoiisly. However, there have been past arrangemeiitg wilh Dove Marine Laboralory. Cullercoais Primary School and the Cullercoats RNLI and Cullercoats Comiiiuniiy Centre to facilitate comniiinity education aiid environniental projecis. Risk Assessment The Trustees recognise their responsibilities and are committed io minimise all the risks ihat the Chariiy may face. The major risks to which the Charity are exposed are identified by the Tnislees in iern1s of both probability and polential risk and are reviewed regiilaTly together with systems and procedures to manage ihose risks. The major risk to the Charity is that of niaintaiijing a suilable level of income to maintain the Watch HoLise property aiid continue io build coniinunity wiihin the Cullercoats area. OBJECTIVES & ACTIVITIES The Objects of the Charity The objects of ihe Charity are as follows:_ l) To preserve for the benefit of the people of North Tyneside and the nation at large, Cullercoats Watch Hoiise and its associated cultural history. 2) To advance education and provide facilities in ihe interests of social welfare for recreation and leisure time occupation wilh the object of improving the conditions of life for the said inhabitants. The Aims of the Trust The aims of the Charity are io protect the Cullercoats Watch Hoiise and retain the property and associated cultural history for the beiiefil of the people of North Tyneside and build community. The Main Objectives for the Year The main objective of the Cliarity in terms of the property, having obtained professional siirveys of various aspects to esiablish the coiidition of tlie biiilding, has been a concerted effort to raise funds to start an extensive projecl of maintenance and refurbishment. During the course of the year external refiirbishment of the buildiiig has been carried out and plans for internal work are now being developed in conjunction wilh professional advisers. In temis of building community, the trustees, with the help of additional volunteers, have this year extended greaily the comniunily use of ihe building. This is now in regular weekly iise for a dolphin watch group, a rockpool scliool, a meeting place for Bay swimining groups, exhibition space, yoga sessions, councillor surgeries and special events and a weekly "wann space" for ihe local community. Strategies of the Charity The strategy of the Charity has been and continues to be one of engagemcnl of the local residents and community organisations io streiigtheii and eiihiince the community spirit and identity. Significance of Achievements The main achievement this year has been the exlernal refurbishnient of the building and the conliniiing effort to raise fuiids for internal improvemeiils to ensiire the proleciion and refiirbishment of the building whilsl also endeavouring to make progress in building community in ihe area. ACHIEVEMENTS AND PERFORMANCE Review of Charity Activities The Truslees consider that the perforniance of the Charity in the assistance it has provided to the local community to have been satisfactory. FINANCIAL REVIEW Reserves Policy The Trustees recognise the need to establish and mainlain a level of reserves that enables financial stability, that meets the requirements of Working capital and cushions against fluctuations of income levels and in the financial perfonnance of the Charity. Principal Funding Sources The Charity relies for the major part of its, income from fund raising activities and in view of the large anticipated refurbishment costs, a lot time has been spent on and continues to be spent on applications to funders to provide additional external financial support. We are indebted to all who have assisted in these efforts and have given their support both financially and in application of their time. Ini'estment Policy The trusi has no investment plans as monies held on short-lenn deposils are only held wilh a view lo building up monies lo finance specific refurbishmenl projecls. There is no formal ethical policy adopted at this stage. PLANS FOR FUTURE PEIUODS The objeclives for future periods continue to be ihose as sel oul earlier in this report and to ihis end, the Trustees welcome approaches for financial assistance or for personnel to assist wilh "Open and Fund-Raising Days" in line with its, objeciives and current activities. STATEMENTS OF TRUSTEES, RESPONSIBILITIES The Truslees are required, under the Charities Act, to Prepare financial statemenis for each financial year which give a true and fair view of ihe Charily's financial activities during ihe year and of ils financial posiiion al the end of ihe year. In preparing those financial siaiemenls the Irusiees should follow besi praclice and:. l ) select suitable accounting policies and apply then) consislenily; 2) make judgements and estimaies ihat are reasonable and prudenl. 3) state wheiher applicable accounting slandards and slalements of reconimended practice have been followed, subjccl to any departures disclosed and explained in the financial statemenls. 4} prepare ihe financial siatemenls on a going concern basis unless il is inappropriate lo assume Ihat ihe charity will continue in operation. The Tn]slees are responsible for keeping proper accounling records ihai disclose with reasonable accuracy al any time the financial position of ihe Charity and which enable them lo ensure ihal the financial slalements comply with applicable law and regulalions. They are also responsible for safeguarding ihe assels of ihe Charity and hence for lakiiig reasonable steps for ihe prevention and deteclion of fraud and oiher irregularities. Approval The Financial Accounis were approved by the Trusiees on their behalf. 11" 3L)roE ?ot£ and signed on for Cullercoats Watch House NICOLA SCORER Chair INDEPENDFNT EXAMINERS REPORT Report to the Trustees of Cullercoats Watch House on the Accounts for the year ended 3151 October 2024 Charity No- 1126835 Respective responsibilities of trustees and examiner The Charity's trustees consider that an audit is not required for this year (under Section 43(2) of the Charities Act 1993 (the Act) and thal an independent examination is needed. It is my responsibility to i). 2). Exaniine the accounts (under section 43 of tlie Act), Follow ihe procediires laid dowii in ihe General Direclions given by the Charity Commission (linder section 43(7)(b)of ihe Aci). and State wheilier particular niatters have come to niy allention. 3). Basis of independent examiner's statement My examinaiion was carried out in accordance wilh General Directions given by the Charity Conimissioners. An examination includes a review of ihe accounting records kept by the Chariiy and a coniparison of the accounls presented with those records. li also iiicludes consideration of any unusual items or disclosures in ihe accounts and seekiiig explaiiations froni ilie trustees coiicerning any such matters. The procediires undertaken do noi provide all the evideiice that would be reqiiired in an aiidil and consequently I do iiol express ali audit opinion on ihe accounts. Independent examiner's statement In the course of my examination, no matter has come to my atlenlion'.- i). Which gives me reasonable cause io believe that in any malerial respeci, the Irusiees have not inel the requirements to ensiire thai proper accounting records are kept (in accordance with section 41 of the Act), and Accounts are prepared which agree with the accounting records and coniply with the accounling requirements of the Act. or 2). To which in my opinion attenlion should be drawn in order to enable a proper understanding of ihe accounts to be reached Signed Dated.. LU2 Name Mark Thompson MAAT Address VODA Spirit of north Tyneside Wing 2. Floor, Wallsend Customer First centre 16 The Forum Wallseiid NE28 8JR CULLERCOATS WATCH HOUSE Statement of Financial Activities Year to 31 October 2024 Permanent Unrestricted Restricted Endowment Funds Funds 2024 2024 2024 Total Funds 2024 Total Funds 2023 INCOMING RESOURCES Membership F¢es and Fundraising Donations Gifi Aid Receivable Grants Received Room Renlal Bank Interest 36,087 36,087 7,350 250 141.500 11,140 2,234 38,688 15.575 3,250 56. 000 5,820 1,014 7,350 250 140,500 1,000 1,140 2,234 Total Incoming Resources 50,461 £ 148,JOO £ 198,561 120.147 RESOURCES EXPENDED Charitable Activities Fundratsing Expenditure Heal & Light Waler Rates Insurances Repairs & Renewals Property Renovalions Telephone & Inlernei Poslage & Stationery Licences & Subscriptions Professional Fees Bank Charges Sundry Expenses Equipment Depreciation Building Depreciation Governance Costs Indepependant Examiner's Fee Company House Fees 4,795 2,880 494 724 4,795 2,880 494 724 177,245 5,690 3,429 283 690 1,535 177,245 431 431 390 137 260 7,806 149 50 194 194 1,800 166 271 153 2,500 1,800 166 271 153 2,500 2,500 200 34 200 34 20 Total Resources Expended 2,500 £ 10,341 £ J 79,045 £ 191,886 22,945 NET INCOMING RESOURCES -£(2,500) £ 40,120 -£(30,945) £ 6,675 97,202 TOTAL FUNDS BROUGHT FORWARD 207,500 57,197 66,819 264,697 234.314 TOTAL FUIYDS CARIUED FORWARD 205,000 £ 97,317 £ 35,874 £ 271,372 £ 331,516 CULLERCOATS WATCH HOUSE Balance Sheet as at 31st October 2024 2024 2024 2023 2023 Notes Fixed Assets The Watch House Property ai Valuation Less depreciation Equipment, at cost Less depreciation le-f 250,000 45,000 1,020 153 250,000 42.500 205.000 867 205,867 207,500 Current Assets Debiors Cash and Bank 3,650 134,566 4,030 120,249 138,216 124.279 Current Liabilities Creditors & Accruals 5,892 263 132,324 J24,016 338,191 331,516 Represented By.. Pern)aneni Endowmenl Reslricted Funds Unrestricted Funds 205,000 35,874 97,317 207,500 66,819 57,197 338,191 331,516 These accounls have been prepared wilh ihe special provisions relating to small companies wiihin Part 15 of ihe Companies Aci 2006 For the financial perod ended 31 st Oclober 2024, the company was entitled io exemption frorn audit under section 477 CompaDies Act 2006 and no nolice has been deposiled under section 476 The diTeclors acknowledge their responsibilities for complying with the requirements of ihe Companies Act 2006 with respect to accounting Tecords and tbe preparation of accounts. These accounts were approved by ihe board on 11 202 /JcJ NICOLA SCORER (Trustee) DAVID HODGSON (Truslce) CULLERCOATS WATCH HOUSE NOTES TO THE ACCOUNTS Note l.- ACCOUNTING POLICIES (a) Basis of preparation The financial slaleinenl have been prepared in accordai)ce with Accounting and Reporting by Charities.. Slalemei)l of Recoinmended Practice applicable lo charities preparing their accounts in accordance villi the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102) {effeclive l January 2015) - Charities SORP {FRS 102), Ihe Financial Reporting Siandard applicable in ilie UK and Republic of Ireland (FRS 102) and the Coinpanies Act 2006 (b) Funds Structure The Charity's fund structure is comprised of Pem]anenl Endowment fund arisingv froni the ownersliip and the Walch House which is l)eld as a fTeeliold pr()perty. 2). Restricted Funds wl)ere donations have been given specifically towards tl)e refurbishinent of Ihe building. 3). Unrestricted Funds where no specific coiiditions have been altached io Inonies provided lo the charity. The aiins and objecls of the ChaTiiy are sel oul in Trustees Report. (c) Incoming resources All incomingF resources are recognised once the Charity has entitlement to th¢ resources, it is cerlain Ihal the resoiirces will be recetved and the monetary value of incoming resources can be measured wilh sufficient reliability. (d) Resources expended Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation cominitling Ilie Charily to the expenditure. Al l expendilure is accouiiled for on a accruals basis and has been classified under headings that aggFregale all costs related to the category. (e) Fixed assets The freehold property is Staled al the estimated market value on incorporation of ihe Charity. (fj Depreciation Deprecialion is provided on the freehold property at the rate of 10/0 per annum on a strdight line basis. Note 2- DEBTORS 2024 150 3,500 2023 780 3,250 Trade debioTS Gift Aid Tax refundable Note 3- CREDITORS & ACCRUALS The creditors are accruals in respecl of utility costs and annual return filing fees and a final charge for external refurbishment work. Note 4- REMUNERATION No remuneration has been paid to any of ihe Trustees in their roles as Trustees. io Note S- FUNDS ANALYSIS Grants and Donations ivith associated Gifi Aid refunds that have specifically been given towards the restoration of tlje building are held as 'Restricted funds" All other funds other ihan the pennanent endowment are unrestricted. Note 6- RELATED PARTY TRANSACTIONS There are no related party transactions.