Minerva Northumberland Ltd Annual Report and Financial Statements for the 2024 financial year. (1st December 2023 to 30th November 2024)
Contents Page Reference and administrative details Trustee's Report Profit and Loss Account Balance Sheet Detailed Receipts and Payments Account Notes to the Financial Statements 9-10
Minerva Northumberland Ltd Reference and Administrative Details Charity Name Minerva Northumberland Ltd Charity Registration Number 1134010 Company Registration Number 4601819 Principle office Minerva Centre 17 Hallstile Bank Hexham Northumberland NE46 3PG Registered office Minerva Centre 17 Hallstile Bank Hexham Northumberland NE46 3PG Trustees Frank Celino James Maughan-milligan Stine Steward Jane Wrighton {resigned 17109/241 Ralph Wrighton (resigned 17/09/241 Agneska Rudnick Martin Brunskill (appointed 1612/241 Margaret Maughan (Centre Manager) Bankers Lloyds Bank PIC 11 Cattle Market Hexham NE46 IPA Independent Examiner NRV Tax Ltd Chartered Certified Accountants Ashis Roy Bsc, FCCA
Minerva Northumberland Ltd Trustees Report 01112123 to 30111124 The trustees present the directors report and financial statements for the year ended 30 November 2024 which are also prepared to meet the requirements for a directors, report and accounts for Companies Acts purposes. th Structure, Governance and Management Governlng Document The organisation Is a charitable company limited by guarantee, incorporated on and registered as a charity on the 3rd of February 2010. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. Recruitment and appointment of Dlrectors The Directors of the Company are also charity trustees for the purposes of charity law under the company's articles. Under the requirements of the Memorandum and Articles of Association, the members of the Management committee are elected to serve. Inductlon and Tralnln8 of Trustees Trustees are inducted and trained to be fully familiar with the Charities aims and operations. Public Beneflt The Trustees have complied with their duty to have due regard to the guidance on Public Benefit, as published by the Charities Commission, whilst exercising their powers or duties. ObJectlves and Actlvltles The Charity's objectives are to advance the education and skills of people with different learning abilities by provision of training, consultancy and other relevant support services. We aspire to develop individual strengths and build on self-esteem and self-confidence through the courses and practical work experience offered. The courses provided are in the areas of creative studies; ranging from photography to silk-screen printing to painting on various substrates with different media. Each student is encouraged to produce bespoke work which springs from their own imagination, inspiration and enthusiasm. The students all have the opportunity to display these artworks at various exhibitions and shows, and also to be showcased in the Minerva shop when put on display and can be purchased, if the student so wishes to sell their items. This also encourages the student to learn, in a small way, about the process of making and selling goods
for the public in a retail environment, as well as increasing the students social skills and interaction with customers Achievement5 and Financial Performance The achievements are continuously reported in the Charity's Newsletters, social media and our Website minerva-centre.co.uk. Overall, our income £36,817 reduced by 36% over last yearfs income. This was entirely due to a reduction in grants and donations received, in particular grant funding from the National Lottery to staff the Minerva shop which ended in 2023. Sales revenue, both through the shop and direct sales, continue to grow strongly with a 28% year on year increase. The reduction in grant funding resulted in a challenging financial situation for the Charity and several steps were taken tb mitigate this, in particula r al ending the 2 shop staff positions (the shop is now staffed by volunteers) and b) increasing the student fee charges for the first time in several years. As a result our payments reduced by 31¥0 compared to last year while our Student Fee income increased by 5%. Overall the Charity made a1055 of £10,158.89 in the year, there were net cash outgoings of £3,072.01 and reserves fell to £2,892.43. However the first 8 months of the 2024/5 financial year have been extremely encouraging, with £14,200 received in grant and donations in those 8 months. Total reserves have also increased to over £8,000 by the end of July 25, Reserves Pollcy We aim to build and retain unrestricted reserves equivalent to two months running costs in order to be able to cover unplanned emergency repairs and other expenditures. Volunteer Involvement Minerva relies heavily on a significant contribution from volunteers. We record and thank them for their contribution which is essential for the centre's very existence. Their contributions, which range from tutoring, housekeeping, operating the shop, assisting with various classes and transport are essential to keep Minerva running and cannot be underestimated. Responsibilities of the Management Committee The Management Committee shall manage the business of the Charity and may exercise all the powers of the Charity unless they are subject to any restrictions imposed by the Act, the Memorandum, the Articles or any special re501ution. No alteratlon of the Memorandum or the Articles shall retrospectively invalidate any prior act of the Committee, Any meetin8 of the Committee at which a quorum is present at the time the relevant decision is made may exercise all the powers exercisable by the Committee. Company Law requires the Management Committee to prepare financial statement5 for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparation of the financial statements, the management committee should follow best practice and; 11 Select suitable accounting policies and then apply them. 2} Make judgements that are reasonable and prudent.
3) Prepare the financial statements on a going concern basis unless it 15 inappropriate to assume that the company will continue on that basis. The Management Committee is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act of 2006. The Management Committee is also responsible for safeguarding its assets of the charitable company and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities. This report has been prepared in accordance with the small companies regime under the Companies Act of 2006. Centre staff @ August 2025 Mana8er: Margaret Mau8han Tutors: Margaret Maughan Mandy Ledger Cara Fraser Sue Gallagher Pat Brew Fiona Bernhoeft Administrator: Jenny Brew {From 13/5/241 Fundraiser Clare Byrne {From 514/24) This report was approved by the trustees and signed by Martin Brunskill on their behalf on the Trustees. Print Name: MARTIN BRUNSKILL Signature Date 28th August 2025 Martin Brunskill Trustee
Minerva Northumberland Ltd - Profit and Loss Account From 01 12 2023 to 30 11 2024 202312024 202212023 Income Student Fees Sales (shop and directl Grants/Donation receipts Total Income Expenditure £22,877.44 £7,211.41 £6,728.50 £36 817.35 £21,700.00 £5,633.95 £30,578.82 £57 912.77 Payments (Increase) in stocks Accounts payable/accruals Depreciation Total Ex enditure Net loss for the year £39,756.92 £0.00 £6,137.50 £1,321.82 .24 -£10,398.89 £57,455.05 -£1,300.00 £1,521.81 £1,607,28 9 284.14 -£1,371.37 Mlnerva Northumberland Ltd - Balance Sheet as at 30th of November 2023 2023 Tanglble Flxed Assets (Note 2) £5,287.29 £6,429.11 Current Assets Stocks and Work in Progress Bank Current Accounts Debtors (Note 31 Total Assets £2,500.00 £870.20 £132,44 £8,789.93 £2,500.00 £5,644.02 £o,00 £14,573.13 Creditors: Amount falling due within one year (Note 4) Net Total Assets £6,137.50 £1,521.81 £2,652.43 £13,051.32 Member5 Funds Profit and Loss account Total Members Funds £2,652.43 £2.652.43 £13,051.32 £13,051.32 Signature Martin Brunskill Trustee Independently examined and verified by: NRVTax Ltd Signature Ashis Roy Bsd1*Éc (Aug 28, 2025, 3..28pml Signed on the 28th August 2025
For the accounting period ended on 30 November 2024, Minerva Northumberland Ltd was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small Companies. The trustees and staff-members have not required an audit under section 476 of the same Act. The trustees, staff and manager acknowledge their responsibility to for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions pf the small companies, regime and the Financial Reporting Standard for Smaller Entities (FRSSEI 2015. Minerva Northumberland Ltd - Detalled Recel ts and Pa ments Account From 01 12 2023 to 30 11 2024 Amount (£s) Recelpts Student Fees Shop Sales Other inc Printing Unrestricted donations Restricted donations Total £22,745.00 £3,994.61 £3,216.80 £6,228.50 £500.00 £36,684.91 Payments Wages inc. shop wages Employers Pension Staff Training Petty Cash/other expenses Repairs and Maintenance Activity Resources Postage/Stationary Telephone Mobile and Broadband Student Refreshments Manager, administrator and tutors fees and expenses IT Software and consumables Rent and Rates Heat Light and Power Bills Card Machine fees Student commission Audit and accountancy fees Total £8,705.49 £337,66 £331.20 £2,016.19 £3,052.45 £1973.03 £145,20 £1,015.19 £1,156.47 £12,879.49 £909,71 £5,297.10 £1,181.24 £485.50 £ioo.00 £171.00 £39,756.92 Yearfs receipts and payments deficit -£3,072.01
Minerva Northumberland Ltd Notes to the Flnancial Statements Note l Employees 2024 2023 Average number of employees in the period Note 2 Tangible Flxed Assets Plant & machinery including motor vehlcles Flxtures, Flttings and equipment Total Cost As at l December 2023 Additions As at 30 November 2024 10,673.00 0.00 10,673.00 12,543.92 180.00 23,216,92 180.00 23,396.92 12,723.92 Depreciatlon As at l December 2023 Charge for the year As at 30 November 2024 10,673.00 0.00 10,673.00 6,114.81 1,321.82 7,436.63 16,787.81 1,321.82 18,109.63 Net book value At 30 November 2023 0.00 6429,11 6,429.11 At 30 November 2024 0.00 5,287.29 5,287.29 Depreclation is provided on tangible fixed assets so as to write off their cost, less any residual value, over their expected useful economic life on a 200A reducing balance basis. Note 3 Debtors: Due within one year 2024 2023 Student Fees 132.44
Note 4 Creditors: Due wlthln one year 2024 2023 Taxation and social security Trade creditors Accruals and deferred income Total 0.00 5,897.50 240.00 700.40 0.00 821,41 6,137.50 1,521.81 10