Company registratlon number 07098916 (England and Wales) Charity re8lstratlon number 1133633 (England and Wales) THE WHITEHAVEN FOYER ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
THE WHITEHAVEN FOYER LEGAL AND ADMINISTRATIVE INFORMATION Trnstees Mr W Slavin Mr R Norman Ms A J Thorn Ms C Rush Mr D Robinson MrT Drake IAppointed 19 July 20251 Senior management Mrs 5 Gambles Manager Charity number 1133633 Company number 07098916 Registered and principal offl¢e 44 Irish Street Whitehaven Cumbria CA28 7BY Independent examlner lan Scott BAIHonsl, FCA, DChA Saint & Co Charterèd Accountants 12113 Church Street Whitehaven Cumbria CA28 7AY Bankers National Westminster Bank PIC 71 Lowther Street Whitehaven Cumbria CA28 7AH
THE WHITEHAVEN FOYER CONTENTS Page Chair's Report Trustees, report Independent examiner's report Statement of financial activities Balance sheet io-ii Notes to the financial 5tatement5 12-25
THE WHITEHAVEN FOYER CHAIR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 When I gazed out of my office in the Howgill Centre many years ago (maybe 2011 at the old YMCA building. wondering about its potential, I never imagined that in 2026, 1 would find myself writing a report about the succes5 of a vibrant enterprise supporting the community, and particularly young people, as Chair of the Whitehaven Foyer. It Is my privilege to take over, with the support of a skilled and highly functional and effective Trustee Board, from Willie Slavin who has provided such energy, leadership, commitment and drNe to the work. l am deli8hted that he has chosen to continue as a Board member in his Howgill Family Centre representative role and hope he continues for many more years. On a sadder note, this year has seen the resignation for personal reasons of Catherine Eve, a Trustee of many years, who always went above and beyond in her support for the work. We offer our thanks and best Wishes to Catherine and her family. The services of the Foyer continue to be vital for a cohort of young people who respond 50 well to the chan5 on offer. The support provided has developed over recent years and become more targeted and focussed on individual need, with clear evidence of progress and positive outcomes. The stories which the Board are able to hear of lives changing and new jOLJrneys beginning, are humbling and a great tribute to the skills of the professional colleagues who have input and impact, ably coordinated and facilitated by Shelly Gambles, our Foyer Manager. The partnership with Howglll and Riverside continues to be strong and it has been possible to align strategies to support contract renewal, ensuring consistency of provision in turbulent financial times. Through this and other effective management approaches, such a5 the expanding work of the shop, the Foyer continues on a sound firlancial footin& enabling planning for the future to continue with some confidence. The work of ihe Foyer has never been more necessary and l am honoured to continue to work wlth good people who are committed to its ambitions and future, to ensure young people in West Cumbria have access to a vital service should they be in need. Mr R Norman Chair 13 May 2026
THE WHITEHAVEN FOYER TRUSTEES, REPORT (INCLUDING DIRECtORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees present their annual report and financial statements for the year ended 31 December 2025. The financlal statements have been prepared in accordance with the accounting policies set out In note I to the financial statements and comply with the charity's governing document, the Companies Act 2006 and 'Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective l January 20191. Objectives and activities Our charity's purpose as set out in the objects contained in the company's memorandum of association is.. The relief of poverty, sickness and distre55 and the advancement of education and training for the benefrt of the public, amongst young people in the West Cumbria area by the provision of accommodation, training and 5UPPOrt services. Formed by Howgill Family Centre la company limited by guarantee and gIStered charity) and Impact Housing A550ciation (now integrated into The Riverside Group Limitedl to purchase, develop and refurbish the former Young Men's Christian Association building in Irish Street, Whitehaven Cumbria, our principal aim is the provision of an inte8rated facility for young people in West Cumbria by providing safe and secure housing together with support and training. To achieve this, we plan to support young people to -conneCt with learning, increase employability skills and improve their health & wellbeing, ensuring young people have the tools they need io take responsibility for their future ensuiing lasting personal and social change. The buildinE of the residential accommodation was completed in 2016 and the newly re*urbi5hed Resource Centre was finally completed and handed over to us on l March 2017. These two unique buildings provlde us with a wonderful facility to meet our primary aim. We review our aims and objective5 regularly, at least on an annual basis. to ensure that we remain focused on our key purpose and that we plan our activities in order to meet our expectations. Our revlew will cover what we have achieved and the related outCDmes, and the success of each key artivity and the benefits they have brought to those groups of people we are set up to help. The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning future activitie5. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set. Delfvering publlc benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what attivities the charity should undertake. All our charitable activities focus Dn the provision of facilities and Services for the benefit of young people based within our locality and are undertaken to further our charitable purposes for the public benefit. We are committed to providing equal oppoitunities for those who use our services, re8ardless of ethnicity, religion, gender, disability and sexual orientation.
THE WHITEHAVEN FOYER TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Achievements and perforrnance During 2025 the charity's main 5trategie5 were.. Managing the use of our available spaces to maximise and secure our future income to ensure continued stability of our finances, particulady in attracting outside organisations in the use of our meeting spaces. Seeking continuation fvndin8 for the much needed counselling programme for residents. Expanding our contact and partner bases and developing our commitment to service community groups and organisations, allied in particular to offering training and enhanced experiences for our residents. Continuing to run The Foyer Shop as a seNice to our WTder community, with the help of volunteers. Continual review and assessment of our governance structure and practices and recruiting new Trustees to fill skill gaps. Every effort is being made to promote the Business Centre, howeverour meetings rooms are still not achieving the level of income seen in previous years largely due to changes in working practises and the shift towards online meetings. We have however secured a long-term booking with the Halifax and will continue to promole and engage with local businesse5 and community group5 through networking and Social media channels. Shop takings have increased again on the previous year and income has now reached a level that will cover the salary of the shop assistant. The Trustees see the vital Service it provides to a community with increasingly little disposable income and have therefore agreed to subsidise the operational costs for at least another 12 months. The accommodation block, comprising 19 self-contained flats continues to be fvlly occupied. The Riverside Group, under a lease granted in 2016, 15 responsible for administering and running the accommodation block as a facility for the young people of West Cumbria in accordance with the objertive5 of The Whitehaven Foyer. All residents benefit from planned training and support and we have been able to develop links with local partners to provide employability and trainir¢g activitles, including offering young people a range of opportunities to overcome barriers and to support them in achievinE their goa15 and aspirations. We continue to let two sections of our business centre to organisations who fully Support our aims and objettives and are key to our contlnued success. The Riverside Group continues to operate Its offices in our Resource Centre for their sUPPOrt team. Arup occupy part of our Resource Centre on a 10 year lease which is due to expire In December 2027. Our relatiQf15hip with our tenants continues to grow and they continue to support us wlth funding and resources. Flnanclal revlew, reserve5 and Investments The charity recorded an unrestricted fund5 surplus for the year of £27,756. There was no restricted income in the year. though there was E26,552 expenditure from restricted funds brought foNard mostly being the depreciation of the property- At 31st December 2025, the charity had total reserves of £1,516,227, of which £1,289,517 was in restiicted funds.
THE WHITEHAVEN FOYER TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 The Board of Trustees has developed a reserves policy which aims is to ensure that sufficient reserves are held to meet the operational needs of the charity and appropriate funds are set aside in designated funds to meet the anticipated future costs of maintaining the premises to heritage standards and replacing major plant and equipment. M05t of the charity's funds are to be spent in the short term so there are few funds for investment. The limited funds not immediately requlred are held on a deposit account and the next stage of the financlal revlew is to explore other account options that may offer a greater return. Plans for future periods Our future plans are based on the continued need to maintain financial stability to ensure the aims and objettNes of the charity continue to be achieved. We have seen the consolidation of our services and facilities as a valuable resource for the centre of Whitehaven, not only for the residents but also for the businesses and community groups who hire our meeting rooms. and individuals who use our shop. We continue to implement the strategies of the organisation and a busines5 plan has been developed around these.. Harnessing charitable status to deliver our mission Financial longevity,. Contlnuous development of strong govemance & representation.. Review meaning of assets & define value added- Identify key stakeholders & develop relationships. We are aware of the commitment we have to the grant funders of this major projecr ro provide a facility for the young people in West Cumbria and our efforts to maximise our income are geared to providing the fund5 for ensuring our accommodation is appropriatety maintained to achieve this objective. We will continue to review ancl assess the Bovernance of the organisation, including monitoring the skills and experience of our Trustees, policies and procedures, and integration of the Charity Code of Governance for Smaller Charities. Stiucturei governance and management The Whitehaven Foyer is a company limited by guarantee and the roles and responsibilities are laid down in the Memorandum and Articles of Association dated 8th December 2009. The company was registered as a charity on 21st January 2010. The organi5ation was established following a joint venture partnership between Impact Housing Association (now integrated into The Riverside Group Limited) and Howglll Family Centre. Together they acquired the original premises in Irish Street, Whitehaven for development as a Foyer. The Riverside Group and Howgill Family Centre are the two Members of the company.
THE WHITEHAVEN FOYER TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial staterDents were: Mrw Slavin MrsCHEve Mr R Norman Ms AJ Thorn Ms C Rush Mr D Robinson MrTDrake (Resigned 13 November 20251 (Appointed 19 July 20251 The Board of Trustees is responsible for the or8ani5ation in all respects and is elected by the Members at the Annual General Meeting. Under the Articles of Association there is no maximum number of Trustees and the minimum number is three. Durlng the year, The Riverside Group and Howgill Family Centre have each been represented on the Board of The Whitehaven Foyer by two Trustees nominated by them. The Tru5tee5 carry out their duties on a voluntary basis and receive no financial reward for theirtime or efforts. Trustee recruitment, Indurtlon and training Trustees are recruited for their service to The Whitehaven Foyer as volunteers for their skills in the areas identified by the Board as key to the success of the organisation. Trustees are sought in a variety of ways involving exploration of the fièld of potential candidates, incluijing by recommendation from Members, service users, officers, and from existing Trustees. Potential Trustees are assessed by the current Board. We aim to ensure that all new Trustees understand their responsibilities to the charity and carry out their duties to the organisation based upon the principals'Good Governance, and the guidance issued by the Charity Commission for England and Wales. Organisatlonal structure The Board of Trustees administers the charity. The Board meets at least six times a year, more often if required. Other task group5 of Trustees, co-opted members and officers, may be convened when appropriate and report to the Board. The Foyer Manager carries out the day-to-day operational duties and develops the activities of the charity, and reports to the Board. Partnershlp It is anticipated the charity will operate in partnership with other local organisations to achieve it's objectives.
THE WHITEHAVEN FOYER TRUSTEES, REPORT IINCLUDING DIREcfoRS' REPORT) ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Risk Assessment The Trustees have a risk management strategy which includes: an annual review of the risks facing the charity more regular review5 of major risks the establishment of systems and procedures to rnitigate those risks that have been identified. using National Best Practice Guidance the irnplementation of procedures designed to minimi5e any potential impact on the charity if any of the risks materiallse. As with any new organisation, financial sustainability has been identified as the most significant financial risk and attention will be focused on monitoring and mitigating any impact at the earliest opportunity, through budgetary control and regular review. The establishment of an appropriate reserve5 policy that identifies the level of sustainable operational reserves is key to minimising the financial risks and setting aside appropriate funds for future expenditure on our heritage building will assist in ensuring our future. Key management personnel remuneration ThÈ Trustees consider the Board of Trustees and the Foyer Manager as comprising the key management personnel of the charlty in charge of directing and controlling the charity and running and operating the charity on a day-to-day basi5. All Trustees give their time freely and no Trustee remuneration was pald in the year. Details of Trustee expenses and related party transactions are disclosed in notes 12 and 24 to the accounts. The pay of all employees of the charity, including the manager. will be reviewed annually and assessed in accordance with average earnings. The remuneration will also be benchmarked with charities of a similar size and activity to ensure that the Temuneration set is fair and nol out of line with that generally paid for similar roles. Trustees, responsibilities statement The trustees, who are also the directors of The Whitehaven Foyer for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kin8dom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial Statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for thal year. In preparing these financial statements, the trustees are required to: selert suitable accounting policies and then apply them consistently.. observe the methods and principles in the Charities SORP,. make judgements and accounting estimates that are reasonable and prudent,. and prepare the financial statements on the going concern basis unless it 15 inappropriate to presume that the company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial p051tion of the charity and enable them to ensure that the financial statements comply with the Companie5 Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities.
THE WHITEHAVEN FOYER TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Small company provision5 This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, port was approved by the Board of Trustees. Mr R Norman Trustee 13 May 2026
THE WHITEHAVEN FOYER INDEPENDENT EXAMINER'S REPOKt TO THE TRUSTEES OF THE WHITEHAVEN FOYER I report to the trustees on my examination of the financial statements of The Whitehaven Foyer (the charity) for the year ended 31 December 2025. Re5ponslbllltles and basis of POrt As the trustees of the charity land also its directors for the purposes of company lawl, you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2C()6 and are eligible for independent examination, I report in respect of my examination of the charitvs financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the Charities Act 2011. Independent examiner'5 statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006. the financial statements do not accord with those records,. or the financial statements do not comply with the accounting requirement5 of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Rewrting Standard applicable in the UK and Republic of Ireland IFRS 1021. 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 financial statements to be reached. lan Scott BAIHons1. FCA. DChA Saint & Co Chartered Accountants 12113 Church Street Whitehaven Cumbria CA28 7AY 13 May 2026
THE WHITEHAVEN FOYER STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) (INCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestricted Restricted funds fund5 2025 2025 Totsl Unrestrlrted Restrlcted tund5 funds 2024 2024 Total 2025 2024 Income and endowments from: Donations and legacies Charitable activities Oiher tradinE activities Investments other income 25.429 83,667 15,243 62,869 3,815 25,429 83,667 15,243 62,869 3,815 16,185 74,642 10,030 63,527 8,444 1,000 17,185 74,642 10,030 63,527 Total incorne 191,023 191.023 172,828 I,cMJo 173,828 Expenditure on: Raising funds Charitable activities 36,230 127,037 36,230 153.589 36,022 114,412 36,022 168,704 26,552 54,292 Total expendlture 163,267 26,552 189,819 150,434 54,292 204.726 Net incomellexpenditurel 27.756 126,5521 1,204 22,394 153,2921 130,8981 Transfers between funds 1241 24 Other recognlsed and losses: Revaltjation of tangible fixed assets Igoo,ocKII 19CXJ,0001 Net movement in funds 11 27,732 126.5281 1.204 22,394 1953,2921 1930,8981 Reconclllatlon of funds: Fund balances at l January 2025 198,978 1,316.045 1,515,023 176,584 2,269,337 2,445,921 Fund balances at 31 December 2025 226,710 1,289,517 1,516.227 198,978 1,316,045 1,515,023 The statement of financial acttvities includes all 8ains and losses recognised in the year. All income and expenditure derive from contlnuing activities. The notes on pages 12 to 25 form part of these financial statements.
THE WHITEHAVEN FOYER BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Notes Fixed ?55et$ Tangible asset5 Investment property 15 16 1,049,850 230,L1 1,072,077 230,000 1,279,850 1.302,077 Current assets Debtors Cash at bank and in hand 17 10,737 270,677 36,547 292,755 281,414 329,302 Creditors: amounts falllng due wlthln ofie year 19 145,0371 1116,3561 Net current a55ets 236,377 212,946 Total assets less curnt liabilities 1,516,227 1,515,023 The funds of the charity Restricted income funds Unrestricted funds 21 22 1,289,517 226,710 1,316,045 198,978 1,516,227 1,515,023 The notes on pages 12 to 25 form part of these flnancial statements. 10-
THE WHITEHAVEN FOYER BALANCE SHE (CONTINUED) AS AT31 DECEMBER 2025 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2025. The director5 acknowledge their responsibilitie5 for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of it5 financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 13 May 2026. Mr R Norman Trustee
THE WHITEHAVEN FOYER NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies Charlty Inforniation The Whitehaven Foyer is a private company limited by guarantee incorporated in England and Wales. The registered office is 44 Irish Street, Whitehaven, Cumbria, CA28 7BY. 1.1 Basis of preparation The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, fRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charitie5 SORP "Accounting and Reportin8 by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iland IFRS 1021" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. modified to include the revaluation of freehold properties and to include investment properties at fair value. The principal accounting policies adopted are Set out below. 1.2 Golng concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue t¢ adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objertives. Designated funds comprise unrestricted funds that have been Set aside by the trustees for particular purposes. The aim and use of each designated fund 15 set out in the notes to the financial statements. Restricted funds are subject to specific condition5 by donors or grantors as to how they may be used. The purpose5 and uses of the restricted funds are set out In the notes to the financial statements. 1.4 Income Intome is recognised when the charity is legally entitled to it after any performan conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 12-
THE WHITEHAVEN FOYER NOTES TOTHE FINANCIAL 5fATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting pollcles Icontinuedl Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions iequire deferral of the amount. Income tax recoverable in relation to donations received under Glft Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otheiSe if the charity has been notified of an impending dlstribution, the amount 15 known, and receipt Is expected. If the amount 15 not known, the legacy is treated as a contingent asset. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grant5 will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in incorlle only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liabilitv. Income from contracts forthe supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unle55 there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 1.5 Expenditure Expenditure Is recognised once there is a legal or constructtve obligation to transfer economic benefit to a third party, r( is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure 15 classified by actlvlty. The costs of each activity are made up of the total of dlrect costs and shared costs, including support Costs involved in undertaking each activity. Direct tosts attributable to a Single activity ore allocated directly to that actlvity. Shared costs which contribute to more than one activity and support COSt5 which are not attfibutable to a single activity are apportioned between those activities on a basis consistènt with the use of resources. Central staff c05ts are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tanglble fixed assets Tangible fixed a55et5 are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 13-
THE WHITEHAVEN FOYER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies (Continued) Depreciation is recognised $0 as to write off the c05t or valuation of asset5 le55 their residual values over their useful live5 on the following bases.. Freehold land and buildings Fixtures and fittings Office equipment Straight line over SO years Straight line over 10 years Straight line over 4 or 5 years The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying vèlue of the asset, and is recognised in the statement of financial attivrties. All items less than £51J) will be expensed in the year of purchase. 1.7 Investment Property Investment property, which is property held to earn rentals andlor for capital appreciation, is initially recognised at cost. which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or Ioss. IA Impairment of fixed assets At each reporting end date, the charity reviews the Carrying amounts of its tangible assets to detemiine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detem)ine the extent of the impairment10s5 lif any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term Ilquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Financial Snstruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Basic financial assets Basic financial assets, which include debtor5 and cash and bank balances, are initially measured at transaction prite including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transartion, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 14-
THE WHITEHAVEN FOYER NOTES TO THE FINANCIAL STATEMENfs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng policies (Continued) Baslc flnancial Ilabllltles Basic financial liabilities, includin8 creditors and bank loans are initially recognised at transaction prl unless the arrangement constitutes a financin8 transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortlsed. Debt instruments are subsequently cafried at amort15ed cost. using the effective interest rate method. Trade creditors are obligation5 to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilitie5 if payment is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of financial liabilities Financial liabilities are derecognised when the charitWs contractual obli8ètions expire or are discharged or cancelled. 1.11 Retirement benellts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accountin8 estirnates and Judgements In the applicatirJn of the charity's accounting pollcles, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other source5. The estimates and associated assumptions are based on historital experience and other factor5 that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assurnption5 are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future period5. 15-
THE WHITEHAVEN FOYER NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Income from donation5 and le8acies Unrestricted Restrfrted funds funds 2025 2025 Total Unrestrirted Restricted funds funds 2024 2024 Total 2025 2024 Donations and gffts Other grants 1,429 24,OC(I 1,429 24,000 185 16,OCt) 185 17,0(X) i.(x)o 25,4Z9 25,429 16,185 1,000 17,185 Income from charitable activities Unrestrirted Unrestricted funds funds 2025 Z024 Integrated service provision Costs recovered from tenants Charitable rental income Room hire 22.136 53,450 8,081 15,343 51,529 7,770 83.667 74,642 Income from other tradlng actlvities Unrestricted Unrestricted funds funds 2025 2024 Shop income 15,243 10,030 16-
THE WHITEHAVEN FOYER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Income from Investments Unrestrirted Unrestrirted funds fund5 2025 2024 Rental income Cost5 recovered from tenant5 Interest receivable 24.OCKJ 37,150 1,719 24,0(X) 36,414 3.113 62,869 63,527 Other income Unrestricted Unrestricted funds funds 2025 2024 Admin fees 3,815 Investment costs Unrestrirted Unrestricted funds funds 2025 2024 Premises costs recharged to tenants 36,230 36,022
THE WHITEHAVEN FOYER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Expenditure on charitable activities Integrated Integr3ted seNlce servlce provision provision 2025 2024 Share of support and governance costs (see note 10) Support Govemance 144,696 8,893 161,479 7,225 153,589 168,704 Anoty5i5 by fund Unrestricted funds Restricted funds 127,037 26,552 114,412 54,292 153.589 168,704 IQ Support costs allocated to artivitles 2025 2024 Staff costs Depreciation Rates and water Light and heat Repairs and maintenance Insurance Telephone and internet Bank charges and interest Sundry expenses IT equipment and support Cleaning and refuse Project costs Governance costs 58,716 22,227 7,174 14.952 4,185 4,295 782 1,639 5,861 1,084 3,331 20,450 8,893 61,632 50,827 2,598 8.926 4,714 5,333 943 8,468 4.797 738 2,993 9,510 7,225 153,589 168,704 Analysed between: Integrated sèrvice provision 153,589 168,704 18-
THE WHITEHAVEN FOYER NOTES TO THE FINANCIAL STATEMENT51CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 11 Net movement In funds 2025 2024 The net movement in fLsnds is stated after chargin{creditIngj'. Fees payable to the charfty's independent examiner: for the independent examination of the charity's financial statements for other financial services Depreciation of owned tanBible fixed assets 3,750 2.591 22,227 3,400 2,139 50,827 IZ Trustees None of the trustees lor any persons connected with them) received any MneratIOn or reimbursement of expenses from the charity during the year. 13 Employees The average monthly number of employees during the year was: 2025 Number 2024 Number Employment costs 2025 2024 Wages and salaries Social serurity costs Other pension costs 56,218 54,475 4,746 2,411 2,498 58,716 61,632 There were no employees whose annual remuneration was more than £60,0. Remuneration of key management personnel 2025 2024 Aggregate compensation 42,967 42,051 19-
THE WHITEHAVEN FOYER NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 13 Employee5 (Continued} Key management personnel include all persons that have authority and responsibility for planning, direrting and controlling the aclivities of the charity. 14 Taxation The charity is exempt from taxation on it5 activities because all its income is applied for charitable purposes. 15 Tangible fixed assets Fr¢ehold14nd b¥lldlr45 Fixtwqs¥nd fittin Totsi e4uipmeTrt Cost or valuation At l January 2025 1,070.C 4,602 2,443 1,077,045 At 31 December 2025 1,070,IX)O 4,602 2,443 1,077,045 Depreciation and Impairment At l January 2025 Depreciation charged in the year 3,229 460 1,739 367 4,968 22,227 21,400 At 31 December 2025 21,400 3.689 2,106 27,195 Carrying amount At 31 December 2025 1.048,600 913 337 1,049,850 At 31 December 2024 1,070,000 1,373 704 1,072,077 The trustees revalued the freehold property to £1,070,OC() at 31 December 2024. This was based on valuation carried out on 16 August 2024 by Mere Commercial. an independent valuer, based on market value in accordance with RICS Valuation Global Standards. In respect of tangible fixed assets and investment property held at valuation, if the assets were carried under the historic cost model the aggregate cost would be £3,372,195, accumulated depreciation would be £595,835 and the carrying amount at 31 December 2025 would be £2,776,360. Both Howgill Family Centre and The Riverside Group Limited have a second charge on the premises 44- 45 Irish Street, Whitehaven. ranking equally, which is to be held for a minimum period of 30 years from 15th May 2012 to secure their investment. Cumberland Building Society also have a charge over this property dated 24 March 2016 to secLtre all monies due to them. -20-
THE WHITEHAVEN FOYER NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 16 Investment property 2025 Fair Value At l January 2025 and 31 December 2025 230,(X)O Investment property compri5e5 the office block let out to Arup. The fairvalue of the investment property has been arrived at on the basis of a valuation carried out at 16 August 2024 by Mere Commercial, an independent valuer, based on market valve in accordance with RICS Valuation Global Standards. Before this valuation, no reliable estimate of the fair value of the investment property was available so it was included within tangible fixed assets as part of a mixed use property. 17 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Prepayments and accrued income 9,155 1,582 34,105 2,442 10,737 36,547 18 Loan5 and overdrafts 2025 2024 Bank loans 79,050 Payable within one year 79,050 The mortgage was condurted on a monthly repayment basis with interest being charged at a variable rate of 4.58% over the Bank of England base rate, discounted by 0.74% for years I to 3 of the new repayment basis agreed from l March 2021. The mortgage was secured by way of a char8e dated 24 March 2016 over 44-45 Irish Street, Whitehaven, and a floating debenture over the Whitehaven Foyer. The mortgage wa5 repaid in full in March 2025. 21
THE WHITEHAVEN FOYER NOTES TOTHE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 19 Creditors: amounts falling due within one year 2025 2024 Notes Bank loans Other taxation and social securitv Trade creditors Other creditors Accruals and deferred income 18 79.050 1,754 2,480 650 32,422 2,090 5,638 37,309 45,037 116,356 Accruals and deferred income above includes £28,99012024'. £25,466) deferred income for rent, service charEes and costs recharged to tenants invoiced in advance at the year end. The amount of deferred income brought forward released during the year was £25,466. 20 Retirement benefit schemes 2025 2024 Defined contrfbutlon schemes Charge to profit or loss in respect of defined contribution schemes 2,498 2,411 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. -22-
THE WHITEHAVEN FOYER NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 21 Restrlrted fund5 The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specifit conditions by donor5 as to how they may be used. The property development fund is for the construction of the Foyer Building, and includes capital grants received from Howgill Family Centre and Impact Housing Association Limited (now part of The Riverside Groupl- The service provision fund is for 8eneral activities. At l January 20Z5 Incoming resources Resources expended Transfers Gains and losses At31 December 2025 Property development fund Service provision 1,3(X),OCK) 121,4(K)I 1.278,600 16,045 15,152} 24 10,917 1,316,045 126,5521 24 1,289,517 Previous year: At l January 2024 Incoming resources Resources expended Transfers Galns an losses At31 December 2024 Property development fund Service provision 2,250,CAJJ 150,CWI 19(XJ.CQOI 1,300,0 19,337 1,000 14.2921 16.045 2,269,337 1.000 154,2921 1900,0(XJI 1,316,045 -23-
THE WHITEHAVEN FOYER NOTES TO THE FINANCIAL STATEMEpif5 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 22 Unrestrirted funds The unrestricted funds of the charity comprise the unexpended balances of donations and 8rants which are not subject to specific conditions by donors and grantors as to how they may be used. The capital equipment replacement fund is funds earmarked by the trustees for the future replacement of major plant and equipment. At l January 2025 Incoming resources Resources expended Transfers At31 December 2025 Capital equipment replacement fund General funds 75,000 123,978 75,000 151,710 191,023 1163,2671 1241 198,978 191,023 1163,2671 1241 226,710 Prevlous year: At l January 2024 Inwmlng resources Resources expended Transfers At31 December 2024 Capital equipment replatement fund General funds 75,0(X) 101,584 75.000 123,978 172,828 1150,4341 176,584 172,828 1150,4341 198,978 23 Analysis of net a5set5 betwef n funds Unrestritted funds 2025 Restrirted funds 2025 Total 2025 At 31 December 2025: Tangible assets Investment properties Current assetsllliabilitiesl 338 1,049,512 230,OCN) 10.005 1.049,850 230,0(X] 236,377 226,372 226,710 1,289.517 1,516,227 -24.
THE WHITEHAVEN FOYER NOTES TO THE FINANCIAL STATEMENTS (CorINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 23 Analysis of net assets between funds {Continuedl Unrestricted funds 2024 Restrfrted funds 2024 Total 2024 At 31 December 2024: Tangible assets Investment properties Current assetsllliabilitiesl 1,072,077 230.0 212,946 872 1,071,205 230,DCXJ 14.840 198,106 198,978 1,316,045 1,515,023 24 Relatrd party transortions Transactions with related partles Trustees Ms A Thorn and Mr D Robinson are employed by The Riverside Group. Riverside are engaged in a lease with the charity to operate the residential accommodation building as a facility for young people in accordance with the charity's objectives, for which they pay a market rent. Total income for the year, including rent, seNice charges and cost recharges amounted to £75,71312024'. £67,125). Riverside owed the charity £4,508 at 31 December 2025 in relation to this income {2024-. £13,433). -25-