Minerva Northumberland Ltd
Annual Report and Unaudited Financial Statements for the 2025 financial year. (1[st] December 2024 to 30[th] November 2025)
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Contents
| Page | |
|---|---|
| Reference and administrative details | 3 |
| Trustee’s Report | 4-6 |
| Profit and Loss Account | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 12 |
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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 Agneska Rudnick Martin Brunskill (Chairman) Margaret Maughan (Centre Manager) Bankers Lloyds Bank Plc 11 Cattle Market Hexham NE46 1PA Independent Examiner NRV Tax Ltd Chartered Certified Accountants Ashis Roy BSc, FCCA
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Minerva Northumberland Ltd
Trustees Report
01/12/24 to 30/11/25
The trustees present the directors report and financial statements for the year ended 30[th] November 2025 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Acts purposes.
Structure, Governance and Management
Governing Document
The organisation is a charitable company limited by guarantee, incorporated on and registered as a charity on the 3[rd] 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 Directors
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.
Induction and Training of Trustees
Trustees are inducted and trained to be fully familiar with the Charities aims and operations.
Public Benefit
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.
Objectives and Activities
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, woodworking, jewellery making, silk-screen printing and 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 or online, 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
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Trustees Report (continued)
Achievements and Financial Performance
The achievements are continuously reported on social media and our website minerva-centre.co.uk. The number of students and volunteers benefitting from Minerva has remained steady throughout the financial year.
Overall our income of £57,771 increased by 57% over last year’s income. This was due to an increase in grants and donations received and we are extremely grateful to all the donors, as detailed in Note 2 to the accounts, who have supported Minerva throughout the year. Sales revenue, both through the shop and direct sales, fell during the year by 43% reversing an upward trend in previous years. This was due to the partial closure of Hallstile Bank in July 2025 as a result of a nearby building collapse, which has has significantly reduced the number of customers visiting the Minerva shop due to access restrictions. Frustratingly Hallstile Bank remains partially closed with no confirmed date for reopening. Minerva has taken action to mitigate the effect of reduced shop sales through greater emphasis on online retailing and in December 2025 employed a member of staff to take responsibility for this. This new role has been kindly funded in 2025/26 by Hexham Freemasons and is shown as restricted funds in the Financial Statements.
Overall the Charity made a surplus of £12,113 in the year and there were net cash incomings of £9,044. Reserves increased to £14,765 following a significant decline in the previous year. The Trustees are hopeful that this positive trend will continue in 2026.
Reserves Policy
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 resolution.
No alteration of the Memorandum or the Articles shall retrospectively invalidate any prior act of the Committee.
Any meeting 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 statements 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.
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Trustees Report (continued)
Responsibilities of the Management Committee (continued)
In preparation of the financial statements, the management committee should follow best practice and;
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1) Select suitable accounting policies and then apply them.
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2) Make judgements that are reasonable and prudent.
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3) Prepare the financial statements on a going concern basis unless it is 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 @ February 2026
Manager: Margaret Maughan Tutors: Margaret Maughan Mandy Ledger Cara Fraser Sue Gallagher Administrator: Jenny Brew
This report was approved by the trustees and signed by Martin Brunskill on their behalf on the Trustees.
Print Name: MARTIN BRUNSKILL
Signature … ~~…………………………………..~~ Martin Brunskill (Mar 16, 2026, 3:12pm) Martin Brunskill Trustee
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Minerva Northumberland Ltd – Income and Expenditure Account From 01/12/2024 to 30/11/2025
----- Start of picture text -----
2024/2025 2023/2024
Unrestricted Restricted Total Total
Funds Funds (Unrestricted
Funds)
Income
Student Fees £22,704.00 £0.00 £22,704.00 £22,877.44
Sales (shop and direct) £4,079.12 £0.00 £4,079.12 £7,211.41
Grants/Donation £21,487.08 £9,500.00 £30,987.08 £6,728.50
receipts (Note 2)
Interest income £0.62 £0.00 0.62 £0.00
Total Income £48,270.82 9,500.00 £57,770.82 £36,817.35
Expenditure
Expenditure on £44,226.00 £98.35 £44,324.35 £45,894.42
charitable activities
(Note 3)
Movement in stocks £0.00 £0.00 £0.00 £0.00
Depreciation £1,333.45 £0.00 £1,333.45 £1,321.82
Total Expenditure £45,559.45 £98.35 £45,657.80 £47,216.24
Net £2,711.37 £9,401.65 £12,113.02 -£10,398.89
income/(expenditure)
for the year
----- End of picture text -----
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| Minerva Northumberland Ltd- Balance Sheet as at 30th of November | Minerva Northumberland Ltd- Balance Sheet as at 30th of November | Minerva Northumberland Ltd- Balance Sheet as at 30th of November |
|---|---|---|
| 2025 2024 ~~oon~~ |
||
| Tangible Fixed Assets(Note 4) £5,333.80 £5,287.29 ~~es~~ ~~oon~~ |
||
| ~~ed~~ ~~ne~~ ~~oon~~ |
||
| Current Assets ~~ed~~ ~~es~~ ~~ne~~ ~~oon~~ |
||
| Stocks and Work in Progress £2,500.00 £2,500.00 ~~ne~~ ~~oon~~ |
||
| Cash at bank and in hand £9,914.21 £870.20 ~~oon~~ ~~es~~ |
||
| Debtors – Student fees receivable £262.44 £132.44 ~~oon~~ |
||
| Total Assets £12,676.65 £8,789.93 ~~oon~~ ~~es~~ |
||
| ~~oon~~ ~~es~~ |
||
| Creditors: Amount falling due within oneyear(Note 5) £3,245.00 £6,137.50 ~~oon~~ ~~ee~~ |
||
| Net Total Assets £14,765.45 £2,652.43 ~~oon~~ ~~es~~ ~~ee~~ |
||
| ~~oon~~ ~~ee~~ ~~es~~ |
||
| Members Funds ~~oon~~ ~~es~~ |
||
| Restricted income funds £9,402.27 £0.00 ~~oon~~ ~~es~~ |
||
| Unrestricted income funds £5,363.18 £2,652.43 ~~oon~~ ~~es~~ |
||
| Total Members Funds ~~oon~~ ~~es~~ ~~es~~ |
£14,765.45 ~~oon~~ ~~es~~ ~~es~~ |
£2,652.43 ~~oon~~ ~~es~~ ~~es~~ |
Independently examined and verified by: NRV Tax Ltd
Signature ……………………………………………. fiat Ashis Roy BSc, FCCAAshis Roy (Mar 16, 2026, 3:14pm) Signed on the 16th of March , 2026
For the accounting period ended on 30 November 2025, 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.
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Minerva Northumberland Ltd
Notes to the Financial Statements
Note 1 Accounting Policies
Statement of compliance
These accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland Charities SORP FRS 102 (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) and the Companies Act 2006.
Minerva Northumberland Limited meets the definition of a public entity under FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity.
Basis of preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated.
Going Concern
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Grants/Donation receipts
Grants and donations are recognised upon receipt.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably.
No persons were employed by the Charity during the year.
Depreciation
Depreciation 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 20% reducing balance basis.
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Minerva Northumberland Ltd
Notes to the Financial Statements
Note 1 Accounting Policies (continued)
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and in call deposits.
Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade creditors are recognised initially at the transaction price.
Fund Structure
Unrestricted funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, use of which is restricted to that area or purpose.
Note 2 Income from Grants and donations
| Egger (UK) Ltd Hexham Freemasons Hexham Rotary Club Hexham Trinity Methodist church Ovingham Drama Group Sir James Knott Trust Stocksfield Garden Society The Archer Trust The Barbour Foundation The Greatham Foundation The Henry Bell Trust The Joicey Trust The Joseph Strong Frazer Trust The Reuel Lewis Fund for Mi- nerva The William Leech Charity Donations and public collec- tions |
Unre- stricted Restricted Total 2025 Total 2024 (Un- restricted) £ £ £ £ 80.00 80.00 1,799.10 9,500.00 11,299.10 200.00 200.00 400.00 400.00 425.00 0.00 0.00 540.79 5,000.00 5,000.00 0.00 0.00 252.95 3,000.00 3,000.00 2,000.00 2,000.00 1,000.00 1,000.00 0.00 0.00 300.00 1,500.00 1,500.00 2,000.00 2,000.00 2,000.00 0.00 0.00 840.00 2,000.00 2,000.00 2,507.98 2,507.98 1,869.76 |
|---|---|
| 21,487.08 9,500.00 30,987.08 6,228.50 |
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Minerva Northumberland Ltd
Notes to the Financial Statements
Note 3 Expenditure on charitable activities
| 2025 | 2024 | |||
|---|---|---|---|---|
| Total | ||||
| **Unrestricted ** | Restricted | Total | (Unrestricted) | |
| £ | £ | £ | £ | |
| Cost of Sales | ||||
| Activity resources | 1,338.53 | 1,338.53 | 2,053.03 | |
| Card machine fees | 355.78 | 15.99 | 371.77 | 485.50 |
| Manager and administrator fees | 15,235.00 | 15,235.00 | 10,532.50 | |
| Stock purchases for shop | 1,143.16 | 1,143.16 | 0.00 | |
| Student commission | 307.45 | 307.45 | 100.00 | |
| Tutor fees | 1,660.00 | 1,660.00 | 1,984.00 | |
| Wages | 0.00 | 0.00 | 8,702.93 | |
| Total Cost of Sales | 20,039.92 | 15.99 | 20,055.91 | 23,857.96 |
| Administrative Costs | ||||
| Audit & Accountancy fees | 250.00 | 250.00 | 411.00 | |
| Cleaning | 216.30 | 216.30 | 0.00 | |
| Employers National Insurance | 0.00 | 0.00 | 2.56 | |
| Insurance | 383.28 | 383.28 | 378.96 | |
| IT Software and Consumables | 1,338.72 | 1,338.72 | 909.71 | |
| Legal Expenses | 34.00 | 34.00 | 13.00 | |
| Light, Power, Heating | 5,600.00 | 5,600.00 | 1,181.24 | |
| Motor Vehicle Expenses | 408.53 | 408.53 | 1,530.49 | |
| Pensions Costs | 0.00 | 0.00 | 337.66 | |
| Petty cash and other expenses | 1,631.92 | 82.36 | 1,714.28 | 1,605.23 |
| Postage and stationary | 41.46 | 41.46 | 0.00 | |
| Printing charges | 301.80 | 301.80 | 145.20 | |
| Rates | 681.02 | 681.02 | 447.10 | |
| Rent | 9,500.00 | 9,500.00 | 9,500.00 | |
| Repairs & Maintenance | 1,410.66 | 1,410.66 | 3,052.45 | |
| Staff Training | 43.20 | 43.20 | 331.20 | |
| Student refreshments | 1,604.81 | 1,604.81 | 1,156.47 | |
| Subscriptions | 39.00 | 39.00 | 19.00 | |
| Telephone, Mobile and Broadband | 701.38 | 701.38 | 1,015.19 | |
| Total Administrative Costs | 24,186.08 | 82.36 | 24,268.44 | 22,036.46 |
| Expenditure on charitable activities | 44,324.35 | 98.35 | 44,324.35 | 45,894.42 |
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Minerva Northumberland Ltd
Notes to the Financial Statements
Note 4 Tangible Fixed Assets
| Cost As at 1 December 2024 Additions As at 30 November 2025 Depreciation As at 1 December 2024 Charge for the year As at 30 November 2025 Net book value At 30 November 2024 At 30 November 2025 Note 5 Creditors: Due within one year Taxation and social security Trade creditors Accruals and deferred income Total |
Plant & machinery including motor vehicles Fixtures, Fittings and equipment Total £ £ £ 10,673.00 12,723.92 23,396.92 857.98 521.98 1,379.96 |
|---|---|
| 11,530.98 13,245.90 24,776.88 |
|
| 10,673.00 7,436.63 18,109.63 171.60 1,161.85 1,333.45 |
|
| 10,844.60 8,598.49 19,443.08 |
|
| 0.00 5,287.29 5,289.29 |
|
| 686.38 4,647.41 5,333.80 |
|
| 2025 2024 £ £ 0.00 0.00 2,995.00 5,897.50 250.00 240.00 3,245.00 6,137.50 |
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NRV Tax Ltd
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